As many as 177 industries shut down in Parsa 

NL Today

  • Read Time < 1

Kathmandu: The economic crisis has taken a toll on Parsa’s economy, leading to the closure of 177 industries during the fiscal year 2079-80 BS (2022/23), according to a report from the Cottage and Small Industry Office in Parsa. This represents a notable increase compared to the previous year when 152 industries were shut down.

Dhananjaya Kumar Singh, the chief of the Cottage and Small Industry Office, Parsa, attributed the closures to a lack of loans from banks and financial institutions, coupled with a shortage of capital. Singh expressed concern over the challenging financial environment, which has adversely affected the industrial landscape.

In the fiscal year 2022/23, the office recorded the registration of 1,089 new industries, a decrease from the 1,480 registered in the preceding year (2021/22). Also, 1,275 industries were renewed in the current fiscal year.

Despite the economic challenges, the Cottage and Small Industry Office reported over Rs 10 million in revenue generated from the industries during the fiscal year.