Harisiddhi has closed

Harisiddhi Brick & Tile Factory Ltd. is closed now. Due to the prolonged losses and inability to compensate those failures, the management committee decided to shut down the company. Narendra Maharjan, CEO of the company informed that, based on the decision of the corporate general meeting, HBT has been formally closed. The inability to produce sufficient bricks as targeted due to the lack of raw materials and constantly stacking losses resulted in company closure. The organization is setting up a medical college and an environmental education centre in the industry area. Maharjan added that the management committee has aimed to develop the place as a health village and the necessary procedures for which has been started. The workers and employees are compensated on the basis of years they have worked there. The person working for a year would be given two months extra salary and the amount increases as the working years increased. The management committee asserted that the labors are given more facilities than mentioned in the labor act.

Even though the labors are informed that the industry would be replace in a suitable place, any procedures for restoration has not been carried out. Maharjan states that the company is focusing on the establishment of the medical college and reinstallation of the factory is a subsidiary matter. The labors are raising their voice against the management decision of closing the company. Meanwhile, the labor strike was prevailing for some time to make them permanent. Jasok Thakur, president of Nepal free labor union commented that the company close down was a full-fledged plan to drown the investment of the general public and bank. According to him, there are 80 temporary labors and 30 permanent labors in contract. Harisiddhi bricks was established with the help of China government. It was operating in the ownership of government and during that time it had gained popularity for its qualitative products. However, in 2049 B.S the company was privatized and majority of its shares were brought by NB group, which brought along lots of problems. The general public had Rs. 3 million investments on the company which is again a fatal loss to them.
Source: THT