Due to the arson and vandalism that occurred during the protest two weeks ago, more than 80 billion rupees have been damaged in the private sector alone. A preliminary study shows that more than 15,000 jobs have been affected due to damage to the physical structure of private commercial establishments.

Federation of Nepal Chamber of Commerce and Industry has released the preliminary data of the direct damage. The federation said that the indirect damage caused by this will be very large. The federation is collecting damage information from all over the country. According to the data and information available so far, there is a preliminary assessment of the loss of more than 80 billion in the private sector," said Federation President Chandra Prasad Dhakal. 

According to the federation, a survey is being conducted across the country to provide damage details as soon as possible. The protestors vandalized and set fire to the hotel and tourism sector, Bhatbhateni supermarket, Chaudhary Group, Chandragiri cable car, Maulakalika cable car, etc., which have billions of investments. Thousands of people were getting employment from those companies.

"The attack on the private sector during the movement can be seen as a failure to understand the importance of the private sector," said Dhakal, the president of the federation. According to a study conducted by the Federation and the International Finance Corporation, the contribution of the private sector to the economy is 81 percent and 86 percent of the jobs are provided by the private sector. Dhakal, president of the

federation, asked to build a continuous dialogue mechanism between the private sector and the government to restore the economy and maintain good governance, to ensure an environment where businessmen can do business openly with confidence. "We are also ready to cooperate by helping the government," he said.

According to the initial estimate of the Confederation of Nepal Industries, the damage caused to physical structures throughout the country during the demonstration on August 24 is around 5 percent of Nepal's gross domestic product (GDP). A loss of 5 percent of GDP is around 3 trillion. Currently, Nepal's GDP is equal to 61 trillion 7 billion rupees. 

According to Birendraraj Pandey, president of the confederation, physical structures worth more than one billion in the private sector alone have been damaged. "Looking at the direct damage to government structures and uninsured private structures and the indirect damage related to trade, business, employment, etc., it is estimated that the GDP has been affected by about 5 percent," he said.

Chairman Pandey said that when private and public structures were destroyed, the morale of investors decreased. Mentioning that it is very important to ensure the safety of investors in the current situation, he emphasized that the government should be more responsible for that. 

"In order to raise the economy again, it is necessary to bring a package of facilities through financial policy and monetary policy," he said. A concession package with a fixed time limit should be brought for big industries.

Nepal Chamber of Commerce President Kamlesh Agarwal claims that the private sector has suffered a loss of Rs. 2 trillion. The figure of 80 billion damage published by the Federation of Commerce and Industry is preliminary. It will increase to about 1 trillion 80 billion," he says. 

25 billion loss in the tourism sector 

Two weeks ago, vandalism and arson caused a loss of around 25 billion rupees in the hotel and hospitality sector. The Hotel Association of Nepal (HAN) has informed that the preliminary assessment is that about 25 hotels have suffered damage. 

Nepal is celebrating World Tourism Day on 27 September (11 October). On this occasion, the Association demands that Prime Minister Sushila Karki should send a clear message to the world that Nepal is a safe tourism destination. The association has emphasized that the fact that tourists have not been harmed by the current incident should be presented to the world and that the government and the private sector should work together to make tourism the backbone of the economy in the future. 

15 billion loss in automobiles 

NADA Automobiles Association of Nepal has made a preliminary estimate that the damage caused by the vandalism and arson caused by the protestors is around 15 billion rupees. According to NADA, initially, auto dealers, showrooms, wirehouses, spare parts stores across the country including Kathmandu have been damaged. According to NADA, the most damage was in Thapathali area. Dealers in Kalanki, Hetaunda, Pokhara, Narayangadh and others have also been damaged. 

  More than 15 thousand jobs affected 

More than 15,000 jobs in the private sector have been affected due to arson and vandalism. This is the number of jobs provided by the hotel and tourism sector, Bhatbhateni Supermarket, Chaudhary Group, Chandragiri Cable Car, Moulakalika Cable Car and other organizations that are providing many jobs. 

Stakeholders say that the number of directly affected jobs will increase as many industries and businesses have been damaged. But the commercial house has stated that even if the business is damaged, the employees will not be fired immediately. 

About 10,000 employees are working in 28 branches of Bhatbhateni Supermarket. 21 branches were damaged during the agitation. Among them, 9 branches have been operational despite vandalism. The 12 branches that were completely destroyed by the fire are currently not operational. Bhatbhateni has said that it will not fire any employee and will immediately assign them to other branches.

According to Han's data, around 2,000 jobs have been affected due to damage in the hotel and hospitality sector. CG Holdings, CG Electronics, CG Automobiles, KTM CT etc. have been affected by the damage and around 5000 employees have been affected.

About 600 jobs have been affected due to the vandalism of cable cars in Chandragiri and Nawalparasi in Kathmandu. There are about 350 jobs in Chandragiri cable car and about 200 jobs in Moulakalika cable car. The industry confederation has made a preliminary estimate that about 15,000 more jobs have been affected by the damage to private investment commercial establishments and property. 

Rs. 50 million and 18 kg of gold were stolen from the bank

It has been found that Rs. 51.5 million rupees and 17 thousand 945 grams (about 18 kg) of gold were stolen from the Baneshwar branch of the National Commercial Bank. The branch office of the National Commercial Bank in the Parliament Building premises was vandalized and looted. The bank said that the gold in the loan collateral was stolen.

Rashtra Bank Governor Vishwanath Paudel claimed that although some branches and ATMs of banks and financial institutions were vandalized, there was no major damage in the financial sector. He has been publicly saying that 50 crores and 18 kilos of gold were stolen from the Baneshwar branch of the National Commercial Bank. 

According to the information officer of the bank, Pawan Regmi, the gold in the customer's locker is safe. "The gold in the loan collateral has been stolen, it has been insured," Regmi said. 

In addition, there are data of vandalism and arson in 25 branches and 43 extension counters, 69 ATMs of banks and financial institutions. There are no reports of much damage to those branches and extension counters. In some of them, only the glass of the window is broken and in some of them, arson has been set. 

22 billion 25 million insurance claim 

Insurance claims worth 22 billion 25 crore 65 lakh rupees have been filed till Sunday due to the damage to the physical structure. So far, 2,448 claims have been filed. There are 1778 claims for most motors. Many government vehicles and some private vehicles were not insured at all. There are 538 claims in property insurance, 132 in engineering and contractor risk insurance, 11 in transportation insurance and 19 in others. 

54 percent or 1 thousand 343 claims are from Bagmati province. The second most claims are in Koshi region with 322. According to the insurance authority, there were 246 insurance claims in Madhesh province, 202 in Lumbini, 184 in Gandaki, 159 in Far West and 22 in Karnali province. According to the amount, about 81 percent of the damage is in Bagmati Province. 

The Nepal Insurance Association has said that all small insurance claims can be paid by Tihar. About 1,700 claims are of a minor nature (less than two crores). "They are ready to be paid by next Tihar," said Birendra Baidwar Chhetri, president of the association.

According to him, only about 12/13 percent of the damage caused in the performance two weeks ago has been insured. The Federation of Commerce and Industry has also said that only 20/25 percent of the total damage is insured, but if one-two big claims are removed, only about 12/13 percent of the damage has been insured. The government structure was not insured at all. 

NADA President Karan Choudhary said that to increase the sale of vehicles, the system of 'loan to value ratio' should be changed immediately and a provision can be made to give loans up to 80 percent. He said that it will also help in revenue collection. Chairman Chaudhary also said that the government should be serious about improving the road condition of the northern border crossings. How to rebuild

?

Stakeholders have emphasized that the government should take immediate action to boost the morale of the economy shaken by the Gen-G movement. They suggest that the government and the private sector should move forward together to ensure not only physical reconstruction but also economic revival, establishment of good governance and the future of the youth. 

Udyog Confederation Youth Entrepreneurs Forum President Manish Shrestha mentioned that the Gen-G movement was an outrage against the procedural obstacles and petty corruption faced in daily life and said that if the system is not improved, the rate of youth migration will increase. He suggested that complete digital services with 'one-step solution', establishment of 'incubation center' with government investment and free legal and accounting consultancy should be given to startups. 

Sagar Pandey, president of Tourism Association of Nepal (TAN), said that the situation of having to take 17,000 jobs has created a compulsion for young people who have completed BHM to go abroad. He said that the environment should be created for the youth to work in the country. He said that the economic activity cannot improve until there is accountability and responsibility in the state mechanism.  What is the roadmap for

revival? 

Sushil Gyawali, chief executive officer of the Investment Board, said that since the voice of the youth could not be heard, there could be rebellion. He emphasized on the need to change the structure of the investment board so that there are representatives of the government and the opposition parties and proceed with the model of public-private partnership.

Ministry of Finance Spokesperson and Joint Secretary Tank Prasad Pandey said that the government and the private sector are fellow travelers and informed that the Ministry is focusing on economic revival programs, investment security messages, relief and concession packages and good governance.

Secretary of the Ministry of Industry, Commerce and Supply Ramprasad Ghimire said that the government formed on the foundation of Gen-G movement should address the major demands of opportunity, good governance and transparency. He emphasized that the attitude of the government towards the private sector should be clear and legal reform should be done even if the ordinance is brought on basic issues. 

Rashtra Bank Executive Director Ram Sharan Kharel said that there will be no problem in rebuilding the physical structure as the financial situation is easy. He suggested to focus on boosting the morale of the private sector. "In order to raise the morale of businessmen who are in trouble due to Gen-G performance, loan restructuring/restructuring, loan at concessional rate and loan at low interest can be provided," he said. 

Damage caused by infiltration: Defense bomb

The leader of the Zen-G movement says that the purpose of the defense bomb movement is not to damage government property. "At the beginning of the August 23 movement, I told them what not to do, saying that the movement would be peaceful," she says. On the second day, everyone was angry because the government suppressed it on the first day.''

We have brought the relief package as stated by the private sector: Finance Minister

Rameshwar Khanal, Finance Minister

Have you calculated the physical damage caused during the demonstration two weeks ago? 

Damage is being assessed. Funds required for revival are also identified. A team comprising representatives from Disaster Authority, Planning Commission, Ministry of Finance and Gen-G has started a Post Disaster Needs Assessment (PDN). The team has been given 45 days to submit the report. 

The Federation of Commerce and Industry has made a preliminary estimate of the loss of about 80 billion in the private sector, this does not include the details of government losses. How much damage is estimated by both private and government? 

Another organization of the private sector, the Confederation of Industry, said that the loss was up to 5 percent of the GDP. That is more than 3 billion. The private sector does not seem to be the only one that has suffered that much damage. Instead, the damage to the government is more. 1200 government vehicles were damaged. Therefore, the actual damage will be discovered only after the PDN report comes. 

It was said to bring a relief package for the private sector that suffered damage in the demonstration, when will it come? 

The decision to give relief to the families of the martyrs and the injured has already been made. On Monday, the Council of Ministers approved the 'Economic Revival Business Recovery Plan' to provide relief for the damage to the physical infrastructure of the private sector. There are many facilities such as giving a 50 percent discount on customs and excise duties when importing materials needed for reconstruction, the amount given to the reconstruction fund can be reduced while calculating taxable income, extension of time for loan repayment and interest payment, increasing the current limit on vehicle loans to 80 percent. We have decided to provide facilities according to the demand of the private sector. 

It was said that the National Bank will also provide some relief facilities through monetary policy. Has there been coordination about this? 

The Ministry of Finance and the National Bank have jointly brought these facilities, which are signed by me as the Minister of Finance and Governor Vishwanath Paudel. 

How much have you estimated the cost of rebuilding the damaged structure? 

It is too early to speculate as details of the damage are not yet available. It was observed that the insurance claim for private sector losses would not exceed 25/26 billion. It will be covered by insurance. Resources are needed for the reconstruction of government structures and the purchase of vehicles. There is also a need to purchase vehicles for elections and security.