Alarmed private sector sends SOS for survival

Kathmandu, March 27:

The private sector today demanded the uninterrupted operation of the industrial sector. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that over the last 11 months, aside from the days of general leave and weekly offs the industrial sector remained closed for 120 of the 330 days during the period.

Speaking during an FNCCI interaction programme, federation president Kush Kumar Joshi said, “Aside from losses due to shutdowns in the eastern region, the industrial sector is losing Rs 100 million per day, which is a total loss of Rs 12 billion so far.”

The business and industrial sectors of Nepal are facing downturns compared to the previous years. According to a study by Forbes, Nepal’s position as a business destination has nose-dived by 25 places compared to last year.

The private sector says the main reason for it is the unending stream of bandhs, strikes and insecurity prevailing in the industrial sector. Minister for Tourism and Civil Aviation Hisila Yami said increasing unemployment was the reason for such activities and that these activities would stop when employment opportunities increase.