604 industries shut down in Makawanpur

BAGMATI, SEPTEMBER 12 : As many as 610 industries were shut down in Makawanpur in the last fiscal year, mainly due to the economic slowdown. According to the Makawanpur Chamber of Commerce and Industry, 268 industries and 336 commercial firms were removed from the list in the fiscal year 2023/24.

Notably, 283 firms related to industry and commerce were not renewed and were removed from the list in the fiscal year 2022/23. Office Chief Ram Prasad Bhusal stated that factors such as the non-availability of loans from banks and financial institutions, inadequate capital, and the economic recession contributed to the rise in the number of industries shutting down.

The registration of new industries and commercial enterprises in Makawanpur also decreased in the last fiscal year. However, Office Chief Bhusal noted that 701 new industries, including 366 in the industrial sector and 335 in the commerce sector, have registered so far in current fiscal year.