Division prepares list of sick firms

KATHMANDU, APR 04:

The Industrial Promotion Division (IPD) has prepared a list of five industries to recommend them to the technical committee for sick industries facility.

“A team of experts has prepared the list of five industries including Everest Floriculture, Basulinga Sugar Mill, Nepal Boards, Birat Leather and Birat Shoe,” said a member of the technical committee.

“The team including representatives from Institute of Chartered Accountants of Nepal (ICAN) has listed five sick industries among the applicants for the facility,” he added. IPD had assigned ICAN to coordinate the team of experts to observe and select sick industries for recommendation.

Likewise, the team of technical experts has also completed its field observation tour of 20 different industries and is preparing to further classify them. The technical committee had earlier recommended a dozen industries.

The reports of the 12 industries were based on their documents and observations by representatives of the committee after field visits, interaction with stakeholders and their bank transaction report.

The recommended industries included wood and wire industries, Everest Floriculture, Nepal Board, Birat Shoes, Birat Leather, Bishesh Textile, Sumi Pharma, Fleur Himalayan, Basulinga Sugar Mill and Sirish Herbal.

Source: THT