The collapse of private and public structures has dampened investor sentiment.
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The initial estimate of the Confederation of Nepal Industry is that the damage caused to physical structures throughout the country during the demonstration on August 24 has reached about 5 percent of Nepal's gross domestic product (GDP).
According to Birendra Raj Pandey, President of Nepal Industry Confederation, the physical structure worth more than one billion in the private sector alone has been damaged. Insurance claims worth around 22 billion rupees have already been made.
Looking at direct damage to government structures and uninsured private structures and indirect damage related to trade, business, employment, etc., Pandey said that the GDP has been affected by about 5 percent.
According to him, the collapse of private and public structures has dampened investor sentiment. In the current situation, it is very important to ensure the safety of investors and for that the government has an additional responsibility.
Pandey said, 'In order to raise the economy again, it is necessary to bring a package of facilities through financial policy and monetary policy. The government should go ahead with a short-term and long-term strategy. A concession package with a fixed time limit should be brought for big industries.'
