Kathmandu: The violent Gen-Z movement of Bhadra 23 and 24 has inflicted severe damage on the private sector, with losses estimated at nearly Rs 80 billion, according to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Heavy Impact on Businesses

FNCCI President Chandra Prasad Dhakal said industries, hotels, retail chains and service providers suffered unprecedented destruction. One of the hardest-hit companies was Bhatbhateni Supermarket, where 12 outlets were completely destroyed and nine partially damaged, resulting in an estimated loss of Rs 10.85 billion, according to its president Min Bahadur Gurung.

The Hotel Association of Nepal (HAN) reported that the hotel sector alone suffered damages worth Rs 25 billion. Similarly, Ncell’s head office in Kathmandu and branches in Pokhara, Dhangadhi, and Mahendranagar were vandalized and set on fire, forcing around 400 employees to work from home. The Chaudhary Group, owned by industrialist Binod Chaudhary, reported losses of nearly Rs 5 billion.

Government Relief and Reconstruction

In response, the government has unveiled a relief and reconstruction plan. A commission led by Gauri Bahadur Karki has been formed to assess damages. Finance Minister Dr. Rameshwor Khanal announced that affected businesses will receive up to 50% customs duty exemption on imported reconstruction materials, while insurance companies will provide up to 50% advance compensation. The government has also decided to extend loan terms and offer concessional financing to affected entrepreneurs.

Insurance Claims Cross Rs 22 Billion

According to the Nepal Insurance Authority, insurance claims filed for damages during the movement have reached Rs 22.25 billion. Among provinces, Bagmati Province recorded the highest claims at Rs 17.97 billion, reflecting the severe concentration of damage in the capital region.

Government structures, however, are not insured, meaning their damages cannot be compensated under the existing insurance system.