July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.

During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.

"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.

Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations.

While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.

He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.

Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.

Bhim Ghimire, president of Province  chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.

Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.

Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.

"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”