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 economic crisis.

According to Netra Prasad Bhusal, chief of Cottage and Small Industries Office, Rupandehi, two hundred and seven industries are closed till April this year. Similarly, 217 industries were closed in 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 sectors.

He said that along with the decrease in production, commercial transactions are also decreasing. Economic recession has also affected in operation of new business 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 last fiscal year, while 26 businesses have been closed so far in the current fiscal year, Chief Bhusal informed. According to Thakur Kumar Shrestha, chairman of the Federation of Nepalese Chamber of Commerce and Industry, Rupandehi chapter, manufacturing industries are also badly affected by economic crisis.

He said that the situation of business and other construction industries is also critical. He is of the views 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.