207 small-scale industries closed in Rupandehi

 

BHAIRAWAHA (RUPANDEHI), MAY 27: In the first 10 months of the current fiscal year 2023-24, 207 small-scale industries in Rupandehi district have shut down due to the ongoing economic slowdown.

Netra Prasad Bhusal, the chief of the Cottage and Small Industries Office in Rupandehi, reported that by April this year, 207 industries had ceased operations. This follows the closure of 217 industries in the district during the last fiscal year.

Bhusal noted that the economic recession has had a severe impact on the district, directly affecting the industrial sector.

He explained that both production and commercial transactions have been decreasing. The recession has also hindered the establishment of new businesses. Last year, 1,304 businesses were registered, but only 1,175 have been registered this year.

Additionally, 19 businesses closed in the last fiscal year, while 26 have already closed in the current fiscal year, according to Bhusal.

Thakur Kumar Shrestha, chairman of the Rupandehi Chapter of the Federation of Nepalese Chambers of Commerce and Industry, stated that manufacturing industries are significantly affected by the economic crisis.

He described the situation for business and construction industries as critical. Shrestha believes the government should promptly implement the suggestions provided by businessmen. He emphasized the need for the upcoming budget to address the issues raised by the private sector