Nepali Times
From The Nepali Press
What about the economy?



ABIN SHRESTHA/KANTIPUR
KATHMANDU – Because of threats from the Maoists, banks have decided to close from Wednesday until the strike is over. As soon as we open our doors, they come and threaten us to close," says the manager of Kist Bank, Kamal Prasad Gyawali. Another manager says his bank gets it both ways. "If we open they threaten us, if we close we are accused of helping the andolan," he said

POKHARA – The banks have been forced to close their ATMs because of Maoist threats, and consumers are starting to feel the pinch. Most people only have cash to last two or three days, and then when ATMs and banks close they face a big problem, says Min Bahadur Shrestha of the Rastra Bank branch in Pokhara.

POKHARA – This is the peak season for Indian tourists and pilgrims fleeing the heat and visiting Muktinath, and some 600 of them were stranded in Pokhara. Police escorted them back to the Indian border after they had to cut short their stay. "My hotel had 75 per cent occupancy, now it is zero," says one hotel owner in Pokhara.

NEPALGANJ – This is the time of year for Indian pilgrims to visit Mansarovar in Tibet via Humla. Most used to stay in hotels in Nepalganj and fly to Simkot. Last year 5,000 pilgrims went through Nepalganj. Prem Bhandari of Sneh Hotel says if the strike isn't withdrawn in a few days this season will be a write-off. Hotels which are empty have had to provide food and lodging for some of the 23,000 Maoists who have come to Nepalganj for the agitation.

KATHMANDU – Most domestic flights have been cancelled because of the Maoist strike. Buddha has cut 70 per cent of its flights and the airline is flying only three of its seven planes. Kathmandu-Pokhara flights have come down from five to two daily. Yeti has reduced its eight daily Pokhara flights to six. The airline is also facing problems because of its inability to take pilots to the airport. Passengers have stopped booking tickets. Yeti, Agni, Guna have also cut flights. State-owned Nepal Airlines, however, is operating all international and domestic flights normally.

BIRATNAGAR – The Morang-Sunsari industrial corridor is suffering a Rs 150 million loss every day because of the Maoist closure. There are 550 factories and manufacturing units in the area, including multinational companies. This has left thousands of workers out of income. Morang Business Association chairman, Mahesh Jaju, says products have not reached market, raw materials aren't coming from Kolkata port, and companies are having to demmurage for stuck cargo.

DHULIKHEL – The main big hotels in Dhulikhel have shut their gates. Most workers have gone home and say they'll only come back when the guests return. This is the season Dhulikhel should be packed with both foreign tourists and visitors from Kathmandu. Dhulikhel is also a major area for seminars and conferences, and all have been cancelled.

KATHMANDU – The Nepal Stock Exchange, which has 1.5 million shareholders, has ground to a halt for the past three days. The NSE, which was beginning to show signs of life in the past year, is on the verge of ruin. "The political instability has destroyed investor confidence," says one stock analyst, "In earlier strikes people could come in motorcycles at least, this time they're not even allowing bicycles."

KATHMANDU -- The air cargo terminal at Kathmandu airport has been closed for six days, causing huge losse for exporters and importers. Even cargo that has been cleared can't be taken to the planes or unloaded. Pashmina, garments, handicraft products are all stuck.

BARDIYA - Tourists who had come on package tours to Bardiya National Park are stuck, running out of money and shifting to cheaper lodges. More than a dozen visitors from France, Britain and Finland are at various hotels.

GHANDRUK-- Lodge owners and restaurant workers in the trekking town of Ghandruk are now planting corn and weeding fields, since there are no guests. "There isn't a single tourist today in Ghandruk, all those returning from ABC have returned and there is no one going up," Kisam Gurung said on Wednesday. There are 24 lodges in Ghandruk that employ 50 people.



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


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