KATHMANDU, Nov 18 (Xinhua): Though Nepal is not closely integrated into the global economy, the ongoing world financial crisis has taken a heavy toll on commodity prices in the country, The Kathmandu Post reported today.
According to the daily, prices of major construction materials in Nepal have dropped significantly over the past 10 weeks.
"A sharp fall in commodity prices has resulted in losses amounting to around seven billion Nepali rupees (some 897.4 million US dollars) over the last 10 months," Rajendra Khetan, an industrialist, told a programme held here on the global financial crisis Monday.
"Construction materials like steel, plastic and copper have plunged and laid a heavy liability on the shoulders of businessmen," added Khetan.
Nepal economy feels chill of global crisis
FE Team | Published: November 19, 2008 00:00:00 | Updated: February 01, 2018 00:00:00
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