First Business News Portal in English from Nepal
KATHMANDU: After suffering for more than a year from the effects of the coronavirus, Nepal’s manufacturing sector was able to improve its performance in the fourth quarter of the previous fiscal year. This was the first time since the coronavirus was discovered in the country.
According to a study report released by the Confederation of Nepalese Industries (CNI) on Friday, the manufacturing industry was able to utilise 64.8 percent of its production capacity between the middle of April and the middle of July of the previous fiscal year, according to the report. As a result of the time under review, manufacturers were able to improve their income by eight percent, as opposed to the negative growth rate of 4.7 percent experienced during the previous review period.
As reported in the survey, 83 percent of the manufacturers have stated a desire to expand their investment due to the fact that Nepal’s infection rate for the pandemic has been falling in recent months. According to the CNI study report, the cost of production in the manufacturing industries has climbed by 4.9 percent in recent years.
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