Nepali Times
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No bidders


No one wants to buy the Hetauda Textiles Industry. The company was shut down last year because the government decided there was no point propping-up the perennial loss-maker, and pumped in a final Rs 250 million to pay off liabilities, mainly the wages and salaries of about 1,100 employees. The company was set up 25 years ago, and managed to do well so long as Nepali textiles were protected, but all that changed with the liberalisation of the economy and today even private Nepali textile firms are unable to compete with the cheaper Chinese and Indian goods in the market.



LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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