‘Private sector facing loss of Rs 2 billion per day’

 

The lockdown imposed by the government has badly affected the economy. Currently, private sector is facing loss of Rs 2 billion every day, said Kamalesh Agarwal, vice-president of Nepal Chamber of Commerce (NCC) during a webinar.

Agarwal was the main speaker in the webinar organized by Women Chamber of Commerce.

Due to Covid-19, the entrepreneurs are compelled to spend extra Rs 900 million to pay interest on loan, Rs 400 million for electricity and Rs 700 million in wages and remunerations, he shared.

Because of coronavirus, 25 percent of the people have already lost their jobs, Agarwal said.

In a startling revelation, he shared that many small entrepreneurs have chosen to commit suicide to escape their financial burden.