Hetauda industry shut without notice
Citing financial crisis, the promoter of Everest Vinyl Pvt Ltd in the Hetauda Industrial Area has closed down the factory on the eve of New Year.
Everest Vinyl’s managing director Raj Kumar Kothari has gone out of contact since April 13. It was only in the morning of April 14 that workers came to know of the closure. Established three years ago, Everest Vinyl used to manufacture PVC flooring and artificial leather. Kothari has cited financial reasons behind the closing of the industry.
According to a notice at the factory’s gate, the industry was closed as it was running at a loss since the last 18 months and that banks did not provide loans. According to the workers, the management did not give them any hint of closing down the industry.
The management also did not inform the Hetauda Industry Association and the Industrial Area Management Limited (IAML) of the closure. President of Hetauda Industry Association Rishi Ram Ghimire said the closure of the industry and the managing director going out of contact is not good. “Had there been any problem, they could have been discussed,” Ghimire said. The industry has a total of 251 workers, of which, 195 are Nepalis. According to the workers, six top officials are also out of contact. The industry hasn’t paid water and electricity bills for the last five months and owes Rs 2.4 million to the IAML. The industry has taken loans amounting to more than Rs 1.5 billion from Himalayan Bank, Nabil Bank and Global Bank.
Posted on: 2011-04-16 09:05
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