HCIL, which started production from 1985, had accumulated loss of Rs 640 million at the end of fiscal year 2013/14. "We faced loss of Rs 69.1 million in 2011/12 and Rs 9.5 million in 2012/13. Our annual loss increased to Rs 0 million in 2013/14," Ramesh Shiwakoti, chief accountant of HCIL, said. "HCIL is facing loss as we are focused on providing quality products unlike privately-owned cement producers whose major thrust is on making profit."
HCIL produces, which has installed capacity of 16,000 sacks (50 kg), has been producing 10,000 to 14,000 sacks of cement every day. Its annual transaction is worth around Rs 2 billion, according to Prem Shankar Singh, general manger of the industry.
The industry produces clinker on its own. It imports gypsum, iron ore and coal from India.
Singh also said HCIL is facing huge loss because its expense on workers is very high. "We pay workers around Rs 25,000 per month, while privately-owned cement factories are paying only around Rs 15,000 per month," said Singh.
HCIL has around 500 workers on its payroll.
Workers, however, say the factory is facing loss due to lack of transparency and increasing political interference. "The management of HCIL changes with the change in government. Political parties are also taking undue benefit from the industry. This is affecting performance of the industry," the workers said.
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