273 business firms close in Dang in last eight months

Ghorahi: Two hundred and seventy-three industries and firms have closed down in Dang in the last eight months of the current fiscal year, 2022/23. The industries were registered with the Cottage and Small Industries Office and the business firms with the District Commerce Office.

Office Chief Lal Bahadur Gurung said among the industries and firms that have shut down, 130 are towards the industry sector while 143 are towards the trade and commerce sector. According to Gurung, most of the proprietors of these industries and firms cited financial loss, difficulty in running business as family members have migrated abroad and some were preparing to leave the country as the reasons for the closure.
Gurung said that his Office has started exploring the reasons for the closure of industries and business firms. “Before this we used to orally ask the proprietors the reason for closing down business. Now we have started seeking the reason in writing,” said Gurung.

Tanka Singh Budhathoki, president of the Dang District Chamber of Commerce and Industry, said the trend of entrepreneurs and businessmen closing their enterprises has increased due to several problems and difficulties. “The trend of industrialists and businessmen leaving their profession is increasing day by day,” he shared, adding that this is due to impact of COVID-19, economic slump and increase in house rent and bank interest rate, among other factors.

Budhathoki fears that more and more industries and businesses might close down in the coming days if the government did not intervene in time to address the problems in the sector. “Trade and commerce is decreasing day by day. The bank interest has increased. This situation has brought multiple problems for the sustainability of the industries and businesses,” he explained.

More than 200 shutters are vacant in Ghorahi alone and this is increasing. Same is the case in Tulasipur. General Secretary of Tulasipur Chamber of Commerce and Industry, Binil KC, said the trend of entrepreneurs abandoning their businesses has also increased in Tulasipur, another trading town in Dang.

According to him, more than 100 entrepreneurs in the town have abandoned their businesses. The same trend is seen in Deukhuri as well, according to Khageshwar Khanal, president of Deukhuri Chamber of Commerce and Industry.

Related News

Posta Bahadur Bogati tunnel project in limbo

Earthquake jolts Annapurna Region

PM’s China visit agenda to be based on Congress-UML consensus: Home Minister

Nepal-India military collaboration talks concluded at NA headquarters