Kathmandu, July 2 (PTI): Colgate Palmolive Nepal Ltd., a subsidiary of Colgate India, is planning to stop operations in the Himalayan Kingdom citing security reasons and scarcity of raw materials, according to a media report here.
CPNL, which started operations in 1997, had closed down for a week in October last year owing to Maoist economic blockade and scarcity of raw materials.
The company now wants to stop operations in the country permanently, local daily Hetauda Sandesh said.
Achyut Raj Pandey, general secretary of the Nepal Trade Union Congress, said over 120 workers of the factory located at Hetauda in central Nepal will directly loose jobs if the company closes down.
About 600 dependents of the workers and thousands of others involved in packaging and other related works will also suffer, he added.
However, the Colgate Palmolive has not yet officially announced its closure. The manager of the company was not immediately available for comment.
Maoist insurgency has affected a number of business enterprises in Nepal including hotels, manufacturing industries and transport companies.
"Colgate Palmolive is not an exception," Pandey said.
A number of Indian joint ventures have allegedly received Maoist threats in the past.
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Saturday, July 02, 2005
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