Nepal Government Pegs Economic Loss of GenZ Protests at Almost $587 Million
Kamal Dev Bhattarai
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Kathmandu: The Nepal government’s first assessment of the September 8-9 GenZ protests places the total economic loss at 84.5 billion Nepali rupees (almost $587 million), a figure that includes significant damage to private businesses.
Rabi Lal Pantha, secretary at the National Planning Commission and coordinator of the assessment committee, presented the findings to Prime Minister Sushila Karki.
According to the study, the private sector alone sustained losses of 33.54 billion Nepali rupees (over $232 million), accounting for nearly 40% of the total damage of 84.5 billion Nepali rupees.
The violent demonstrations had targeted government infrastructure and major commercial establishments, shaking confidence across Nepal's business community.
The human toll of the two-day protests was severe – 77 people were killed and over 2,000 injured. More than 1,300 of the injured were between the ages of 13 and 18.
The report documents damage to 2,168 organisations and institutions, including 2,671 buildings with losses valued at 39.3175 billion Nepali rupees ($272 million). All seven provinces were affected by the unrest.
Also read: Two Months After the Gen Z Upheaval, Nepal Struggles to Find Its Diplomatic Footing
The committee has also submitted an initial reconstruction plan estimating costs at 36.30 billion Nepali rupees ($251 million).
While Karki's cabinet has established a reconstruction committee, progress in securing funding has been limited. The international community has expressed willingness to support reconstruction efforts, viewing the GenZ protests as a youth-driven movement against corruption and poor governance.
However, critics say the Karki administration has been slow to actively pursue this assistance, with its focus fixed on upcoming elections. Communication channels between the government and international partners remain minimal.
The Karki government assumed power following the upheaval with a six-month mandate to conduct elections, now scheduled for March 5. Private sector representatives continue pressing officials to establish secure conditions for resuming business operations, expressing frustration over what they perceive as inadequate efforts to restore confidence in the business environment.
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