somersby

Nepal imported 22,500 kg needles worth Rs 7.7 million in past 11 months

Kathmandu, July 3

Whenever they have to criticise the government for its inefficiency, many members of the public often say that Nepal cannot produce even a single needle. The accusation seems true till the date as recent data have shown that the country imported 22,5000 kg needles used in garment manufacturing and repairing in past 11 months.

The country spent Rs 7.7 million for the purchase.

India has become the biggest needle exporter for Nepal in the first 11 months of the current fiscal year. Nepal bought needles worth Rs 4.1 million from India.

China, South Korea, France, Italy, Thailand and Switzerland follow India on the list.

Industrialists say they prefer importing this item to producing on their own because Nepal’s needle market is not big enough to give sufficient returns in comparison to the excessive cost involved in the production. Importing it is way cheaper than producing, according to them.

Yagya Raj Neupane, a garment industrialist who wanted to begin a needle factory some years ago, says he withdrew the plan after an Indian engineer told him that producing a needle following a standard German technology in the Nepali market would cost Rs 150 while China could sell a needle of the same quality at around Rs 20.

Therefore, no one was interested to invest in the sector, according to him.

 

 


Published on July 3rd, Wednesday, 2019 10:03 AM


Download Onlinekhabar App. Android click here & IOS click here . Keep in touch with us on Facebook, Twitter & YouTube.

Related News Finance Minister laments over efforts to create ‘illusions’ about economy Why Nepal needs to introduce a mega bank merger plan World Bank predicts 7.1% GDP growth for Nepal this fiscal year

No Comments

Leave a Reply

Your email address will not be published.

You May Like This