KATHMANDU: The Federation of Grill and Steel Fabricators Nepal (FGFSN) has said soaring prices of iron has adversely affected the grill industries.

Issuing a press statement on Friday, it said although the price of blade, the raw material for grill products, was not increased in the international market, it was hiked in the Nepali market.

The ‘unexpected’ and ‘unusual’ rise in the price of such materials is likely to kick around 16,000 workers out of their jobs, the press statement said, adding that several such workers are associated with over 1,100 grill industries across the country.

As many as 1.5 million people are dependent on these industries.

Such price has posed a severe threat of the closure of business.

“In this situation, we have no option but to shutting down the industries and calling the government to respond,” Federation Chair Thulo Babu Shrestha mentioned in the statement.

He demanded prompt address to the problem.

The Federation has accused the monopoly of big companies in its business.

It has expressed serious concerns over the ‘unexpected’ rise of iron and construction materials hitting severely the grill industries which were in the process of recovery in the aftermath of COVID-19 and the economic slowdown in the country.

The annual business of grill and steel fabricators’ industries amounts over Rs 50 billion each year, it is said.