May 21: The registration of industries in the first ten months of the current fiscal year has decreased as compared to the corresponding period of last FY. According to the statistics of the Department of Industry (DOI), a total of 399 industries were registered under various categories in the first ten months of last FY 2016/17 while only 357 industries have been registered in the current FY 2017/18 so far.

Durga Bhusal, spokesperson of DOI, said, “The establishment and operation of industry depend on the market demand and objective of investors. So, fluctuation in the registration number is common.”  

Though the registration of industries has decreased, it has seen a rise in the number of industries in the field of energy and information technology. A total of 16 energy-based and 7 information technology industries were registered in the last FY whereas the number has increased to 32 and 17 respectively.

“Energy-based industries have been increasing in number because of the increasing demand and the awareness regarding investment in hydroelectricity from the private sector,” said Shailendra Guragain, chairman of Independent Power Producers’ Association (IPPAN).

The total capital of the industries registered in this FY is Rs 69.55 billion and 21,522 will get employment after their operation, according to the statistics of the DOI.