KATHMANDU, Nov 25: Nepal’s manufacturing industries and businesses, which were hit hard by the COVID-19 pandemic, have started gathering pace in recent days.
According to a study report unveiled by Nepal Rastra Bank (NRB), 87.2 percent of the COVID-hit businesses have resumed their full operations as of mid-November. After the impacts of the first lockdown in July 2020, only 4.1 percent of the industries were operating in their full capacity.
Revised interest rate corridor system introduced
Similarly, only 2.3 percent of the businesses remain closed at present. The NRB survey carried out last April shows that 4.2 percent of the industries had failed to come into operation at the time.
As compared to other sectors, the revival of hotel and restaurant businesses has appeared relatively slower. According to NRB, an increased vaccination drive following the second wave of the coronavirus infections has helped the majority of the businesses toward a revival.
