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Kathmandu, March 21: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed serious concern over the repeated declared and undeclared load shedding in the industrial sector of the country. Of late, 12 hours of erratic and unannounced power cuts in various industrial areas across the country are severely impacting industrial production and the business environment, FNCCI has stated in a statement issued on Thursday.

“Industries are in big trouble due to load-shedding. Frequent and sudden power outages are disrupting the continuous operation of industries and causing an unexpected impact on the production process, which has led to a sharp decline in production. Similarly, industries are incurring huge financial burden in repair, storage and replacement of machinery and other equipment damaged due to frequent power supply fluctuations. Such disruptions have the potential to increase the risk of a long-term economic crisis by affecting the slow recovery seen in the country’s economy”. FNCCI has said.

The FNCCI has thus urged the government to take immediate necessary steps to ensure uninterrupted, reliable and regular power supply for the industry sector. At the same time, to accelerate the industrialization of the country in the long term, it has urged to invest more in energy infrastructure, facilitate energy supply and strengthen continuous dialogue and cooperation with the private sector.

People’s News Monitoring Service.