374 small industries closed in 10 months in Makawanpur district

Bagmati, May 24: A total of 374 small-scale industries have been closed in 10 months of the current fiscal year 2023/24 in Makawanpur district due to economic crisis.

According to the Office of the Cottage and Small Industries, Makawanpur, 167 enterprises towards industry and 207 towards commerce were closed during the period.

Similarly, 283 industries were closed in the district in fiscal year 2022/23. Office Chief Ram Prasad Bhusal said the number of industries closing their services has increased in lack of loan from banks and financial institutions, and also shortage of capital.

A total of 614 new industries—323 towards industry and 291 towards commerce have been registered at the office in 10 months of the current fiscal year.

The office had collected Rs 26.32 million revenue from different headings including registration and renewal of the industries during the period, added Bhusal.