KATHMANDU, DECEMBER 13

The economic crisis has significantly impacted Parsa's economy, resulting in the closure of 177 industries during the last fiscal year 2079-80 BS (2022/23), as reported by the Cottage and Small Industry Office, Parsa.

This figure represents an increase compared to the 152 industries that were shut down in the previous year, 2021/22.

The lack of loans from banks and financial institutions, along with a shortage of capital, is identified as the primary cause of this situation, according to office chief Dhananjaya Kumar Singh.

In the fiscal year 2022/23, the office registered 1,089 new industries, a slight decrease from the 1,480 registered in the fiscal year 2021/22. Additionally, 1,275 industries were renewed during the fiscal year 2022/23.

Throughout the fiscal year, over Rs 10 million in revenue was collected from the industries. Furthermore, Singh noted that 4,460 people were employed in these industries during the same period.