NEWS

RMG industries suffers a loss of over Rs.1.25 billion

09-Jul-2020

The COVID -19 pandemic in Nepal  has resulted  at the loss of several people and severe effects in the various sector of the economy.The enforcement of lock down in effect since March 24, 2020 in the country  has resulted at the closure of RMG industries and incurred a  loss of over Rs.1.25 bilion of ready made garments following the cancellation of the export orders  from the different buyers in the overseas countries.Moreover, this has also  impacted a burden of over Rs.40 million for the quarterly interest payable amount to the banks , salaries for direct labour numbering 2000 people.