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Economy

Rolpa begins hair oil production

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ROLPA— A factory established in Sulichaur, the eastern belt in Rolpa district, has started the production of hair oil through processing of medicinal herbs available in the locality.

Established with the investment of Rs 15 million, a total of 35 people have been employed, proprietor of the industry Tek Bahadur Ghartimagar said.

According to Ghartimagar, the productions of the company are exported to the bigger cities such as Kathmandu, Pokhara, Chitwan and other market areas, as they are not sold in the local market due to higher prices.

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He said that cinnamon, bay leaf (Cinnamomum tamala), Calamus (Acorus Calamus), muskroot and many other locally available herbs are processed to produce the hair oil.

He also said that the local farmers are also encouraged to produce grass and herbs to avert the crisis of the raw materials as the materials produced in community forests and private forests could not meet the demand for raw materials.

Ghartimagar is of the view that the income of the community forests could be increased by doing farming of the medicinal herbs. “It would increase the income of community forests and also ensures sustainability of the industries,” he adds.

Rolpa is considered as a good source of many medicinal herbs where the local residents are making good income from the sale of the products. However, some herbs are yet to be identified despite their high values.

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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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