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Economy

194 industries registered with foreign investment

Gorkha Post

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KATHMANDU — Total 194 industries have been registered with foreign investment at the Department of Industry during first eight months of the current fiscal year,according to the information provided by the Department.

10 large-scale, four medium-scale and 180 small-scale industries have been registered till March 14, the Department dais.

Among the industries registered, 11 are related to agriculture, four related to energy, 17 related to information, broadcasting and communication technology, 39 production-oriented, one related to mineral, 62 services related and 60 related to tourism.

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The investment above Rs 100 million is considered small industry, investment from Rs 100 to Rs 250 million is referred as medium scale and investment above Rs 250 million is taken to be big scale industry.

As of now around 7,500 industries have been registered at the department.

According to Department’s Information Officer Durga Prasad Bhusal, investment has increased in industrial sector with the formation of a stable government following the completion of three-tiers of governance. “Industrial sector has witnessed growth this year in comparison to the previous year”, he added.

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Economy

Business community demands slash in interest rate

Pratigya Waiju

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BIRATNAGAR— The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) from the borrowers.

They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms.

At a programme jointly organised by Industry Association Morang and Trade Association Morang on Thursday, the business leaders drew attention of the government to that end adding that job creation for the labour force of 500,000 was not likely only from the industry and trade sectors.

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Stressing the need for slashing the interest rate, they also argued the central bank should realise the reality that no bank was running out of loss. The industrialists and businesspersons said that industries and business should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.

Industrialists Bhim Ghimire, Pawan Kumar Sharda, Sushen Pyakurel, Moti Dugad and others said that bank’s interest rate should be low to increase the domestic investment and lure the foreign investment.

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