Many industries closed

           Kathmandu, Nov 8: More than half of the small and cottage industries have shut down in the recent times due to their poor operational standards, the Federation of Small and Cottage Industry said.

            Chairman of federation Shyam Giri said only 140,000 small and cottage industries are in operation out of 300,000 registered.

            Giri said poor access to finance and rising cost led to closure of many small and cottage industries.

            According to a study carried out by the federation, an individual has also run many cottage industries meant for getting loan from the banks and financial institutions at low interest rate.

            Giri added that an individual is learnt to have registered as high as five industries to get loan from the banks and such practice has made the industries' operational capacity weaker.

            The government has been providing loan at low interest rate for the individuals to run small and cottage industries. RSS