BHAIRAHAWA (RUPANDEHI), May 27: A total of 207 small-scale industries have been closed in 10 months of the current fiscal year 2023-24 in Rupandehi district due to the ongoing economic slowdown.
According to Netra Prasad Bhusal, chief of Cottage and Small Industries Office, Rupandehi, 207 industries are closed till April this year. Similarly, 217 industries were closed in the last fiscal year in the district.
Bhusal shared that the effect of the economic recession was also adversely seen in the district which has directly affected the industry sector.
Cement, steel industries in trouble as demand stagnates
He said that along with the decrease in production, commercial transactions are also decreasing. The recession has also affected the operation of new businesses as well, Bhusal said. As 1,304 businesses were registered last year, only 1,175 have been registered in the current year.
Likewise, the number of business closures was 19 in the last fiscal year, while 26 businesses have been closed so far in the current fiscal year, according to Bhusal.
According to Thakur Kumar Shrestha, chairman of the Federation of Nepalese Chambers of Commerce and Industry, Rupandehi chapter, manufacturing industries are also badly affected by the economic crisis.
He said that the situation of business and other construction industries is also critical. He is of the view that the government should implement the suggestions given by the businessmen on time. He emphasized that the issues raised by the private sector should be addressed in the upcoming budget.
(RSS)
