Economic crisis leads to closure of 177 industries in Parsa

PARSA, DECEMBER 13: The economic crisis has led to the abrupt closure of 177 industries in the Parsa district last fiscal 2079-80 BS (2022/23), according to the Cottage and Small Industry Office based in the district.  The figure is an increase as compared to 152 industries shut in the previous year 2021/22.

The industries faced a severe crunch for adequate capital as the banks and financial institutions refused to float loans to them.  This eventually led the industry owners to close down their shutters, said office chief Dhananjaya Kumar Singh.

In FY, 2022/23, the office got the registration of 1,089 new industries, and 1,480 in the FY, 202/22. Similarly, 1,275 industries were renewed in the FY, 2022/23. In the FY, over Rs 10 million in revenue was collected from the industries. Similarly, 4,460 people got employed in the industries, said Singh.