Kathmandu. Due to the economic recession, shutters, godowns and houses have started to become empty in the main commercial centers of the urban areas. In commercial centers of Kathmandu, where it is very difficult to get even a small shutter, now notices for rent with phone numbers have been issued.
A large number of people come to Kathmandu from different districts to do business and study. That is why it is difficult to get a house, flat and room in Kathmandu valley for housing and business. It was almost impossible to get shutters for business sponsorship in a more busy place. In a busy city, there were people who would pay lakhs of salami to buy shutters, while even during the construction of a building, businessmen were ready to pay lakhs of money.
However, due to the commercial recession immediately after the corona period, the shutters have started emptying in the main square and market of Kathmandu. In the past, there are shutters written to late even in the New Road area of Kathmandu, where shutters were not found for commercial purposes. In other interior areas, more shutters are found empty. Business is low even in existing shutters. Likewise, some shutters have been locked due to non-business. Some of them have run away after not being able to pay the arrears. The country’s economy slowed down after the corona infection. Industry slowed down. That sequence has not stopped yet. Kumar Karki, President of the National Federation of Businessmen, says that shutters are becoming empty recently.
Although there is no exact statistics on how many shutters were closed, businessmen estimate that 25 to 30 percent of the shutters were closed across the country. Recently, businessmen complain that economic activity has not been running at a slow pace, and the situation has become unsustainable due to the increase in bank interest rates, the escape of cooperatives, the halt in land transactions, and the increasing customs duties. Lately, the house rent has also increased and the prices are also increasing. Traders are in crisis as the business is low in the shops.
It can be assumed that the country’s economy is in crisis as the people who have been doing business for years are leaving their businesses and the houses and rooms that were used for living are becoming empty. In addition to facilitating the economy, it is necessary for the government to take initiatives to create an environment for businessmen to do business.