Industries crawling back to normalcy

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KATHMANDU, JANUARY 12

Less than 54 per cent of industries have resumed full operation compared to the pre-pandemic situation.

According to a survey report issued by Nepal Rastra Bank (NRB) today, industries are slowly returning to normalcy as the effects of the coronavirus pandemic are gradually easing. As per the report, nearly 54 per cent of the industries and factories have fully resumed their operations.

Meanwhile, 46 per cent of industries and factories are still struggling to get back into operation.

The results of the survey conducted in November-December, is nonetheless, a marked improvement compared to the situation in June-July, when only four per cent of industries had been operating in a full-fledged manner.

Thus, NRB has stated that 50 per cent of industries have bounced back. The report has further stated that the improvement in operations of big, medium and small businesses is satisfactory compared to the situation five months ago.

Similarly, the report has stated that nearly 30 per cent of hotels and restaurants have fully resumed operations.

The report has further mentioned that employment has also increased in the five month period. While only 77 per cent of the workers were employed in different sectors compared to the situation before the pandemic struck, the number has now reached 87 per cent, stated the NRB.

Nevertheless, domestic industries are struggling to cover their operational expenses due to the decline in market demand, the report has added.

 

The post Industries crawling back to normalcy appeared first on The Himalayan Times.

Written by Sureis
This news first appeared on https://thehimalayantimes.com/business/industries-crawling-back-to-normalcy/ under the title “Industries crawling back to normalcy”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.