Nepal | July 14, 2020

Govt still lacks concrete plan for businesses to resume

Himalayan News Service
Share Now:

Kathmandu, May 24

Though the country has entered into the third month of the nationwide lockdown preventing all sorts of business activities from the beginning, the government still is without any concrete plan to resume economic activities and revive businesses which continue to remain shut and are struggling to sustain.

While the economy has been battered due to restricted mobility and closure of businesses for months and the lockdown is still prolonging, the government’s failure to come up with an effective modality to resume economic activities has worried the business community lately.

A recent report prepared by Nepal Rastra Bank showed that the COVID-19 pandemic has not only disrupted economic activities but already inflected a loss of almost Rs 168 billion in the country’s economy.

Experts say the loss that the Nepali economy will face out of this pandemic is still unpredictable and might even be unbearable for a developing nation like Nepal as the government is continuously extending the lockdown while it has not come up with any plans to resume economic activities.

If economic activities are not resumed cautiously and a favourable environment is not ensured for business to resume, not only will businesses collapse but also the economy will fall to a level from which revival will be impossible for many years, as per industrialist Pashupati Murarka.

Though the government had recently allowed 43 different types of industries, especially those related to essential service production and trading to operate, tightened mobility due to the rise in the number of COVID-19 infected people has halted operation of these industries. Moreover, unavailability of industrial workers, transportation service, raw materials and market has made operation of these industries almost ‘impossible’.

“Merely allowing industries to open is not enough amid a lack of raw materials and workers due to halted mobility of people and transportation services. The government should also facilitate industries in receiving necessary raw materials from domestic sources and abroad and also mobility of people and transportation services for
industries,” said Murarka, who is also the immediate past president of the Federation of Nepalese Chambers of Commerce and Industry.

In a bid to prevent their economy to collapse further, countries across the world have been allowing industries to start operation gradually. The government in India has classified areas of large outbreak of COVID-19, or clusters with a significant spread of the virus, as ‘hotspots’ or red zones and allowed operation of different manufacturing industries and retail outlets under strict guidelines.

Satish Kumar More, president of Confederation of Nepalese Industries, said it is unfortunate that the government is only extending the lockdown and not coming out with any plans to resume economic activities. “Resuming industrial operation and facilitating businesses hit by the pandemic wholeheartedly is inevitable to help businesses to revive and grow,” he said.

A version of this article appears in e-paper on May 25, 2020, of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Relief packge provided for those reeling under virus crisis in Bajura

BAJURA: Relief materials were shared in the district with those reeling under coronavirus crisis. Chairman of Nepal Healthcare Equipment Development Foundation (NHEDF) Samrat Singh Basnet and Andrea Drewer, jointly with Badimalika Khabar, have come forward to provide assistance to hit-hard by the Read More...

One more body recovered from Jajarkot landslide

JAJARKOT: One more body of an individual who went missing in the landslide in Barekot Rural Municipality, Jajarkot, was recovered on Sunday. With this, the landslip death-toll here reached 10. The deceased has been identified as Kamal  Sarki (11), daughter of Kalu Sarki who also died in this Read More...

Amid lockdown, Nepal Tourism Board participates in virtual 'PATA Dream to Travel' festival

KATHMANDU: Nepal Tourism Board (NTB) participated in virtual Dream to Travel Festival, organised by the Pacific Asia Travel Association (PATA) in Kathmandu. NTB, in a statement issued Sunday, said, online events bring together travel-trade businessess worldwide to learn networking, and to celebra Read More...

154 infected with coronavirus in Tanahun district

DAMAULI: As many as 154 persons infected with coronavirus have been staying in isolation, under observation, at various health centres in Tanahun district. According to the District Health Office, 142 males and 15 females staying in quarantine upon arriving from foreign countries tested positive Read More...

Landslides displace families in Bhojpur, Sankhuwasabha districts

BHOJPUR: With the monsoon at it's peak, landslides and floods triggered by heavy rainfall have displaced at least five families in Bhojpur district. According to the Bhojpur District Police Office, five families of Dingla Bazaar in Shadananda Municipality-8 have been relocated on facing threa Read More...

Alderweireld seals Tottenham victory over Arsenal

LONDON: Toby Alderweireld's 81st-minute header sealed a 2-1 Premier League victory for Tottenham Hotspur against Arsenal in the first north London derby in their new stadium on Sunday. The match appeared to be heading for a draw after Son Heung-min cancelled out Alexandre Lacazette's o Read More...

Mexico, coronavirus outbreak;

Mexico surpasses Italy to post world's fourth-highest coronavirus death toll

MEXICO CITY: Deaths in Mexico from the coronavirus pandemic rose above 35,000 on Sunday, with the Latin American country overtaking Italy for the world's fourth-highest death total, according to Reuters data. But leftist President Andres Manuel Lopez Obrador said on Sunday that the pandem Read More...

Govt urged for effective handling of natural disaster

Kathmandu, July 12 The National Human Rights Commission has called on the federal, provincial and local governments for more effective search, rescue and relief operation to benefit people affected by rain-induced disasters. Issuing a press release today, the rights body underscored the urgenc Read More...