HomeAsiaNepal says economy suffered $586 million hit from 'Gen Z' protests

Nepal says economy suffered $586 million hit from ‘Gen Z’ protests

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By Gopal Sharma

KATHMANDU, Dec ​12 (Reuters) - The anti-graft protests in September that forced Prime Minister K.P. Sharma Oli to resign caused more than $586 million in losses to ⁠Nepal's $42 billion economy, a government statement said on Friday.

The youth-led protests and the unrest that followed killed 77 people and injured more than ‍2,000 others three months ago.

Public and private infrastructure - including the sprawling Singha Durbar office ​complex, the Prime Minister's office, the Supreme Court, Parliament House, the private residences of politicians, and business complexes owned by individuals close to some politicians - ​was set ablaze and destroyed.

A statement from the office of interim Prime Minister Sushila Karki, a former chief justice, who succeeded Oli, said an official committee set up to assess the losses estimated that the cost of rebuilding would top $252 million.

The interim government has ‌set up an official fund to mobilise resources for the reconstruction ‌and has so far collected less than $1 million from the public and different institutions, authorities ​said.

The government has not said how it plans to bridge the resource gap for the reconstruction.

Chakrabarti Kantha, a senior engineer at the Ministry ‌of Urban Development in charge of rebuilding public infrastructure, said the reconstruction of ⁠the Singha Durbar, the president's house, the Supreme Court ‌and key ministries had already started.

Repairs ​of some partially damaged buildings have already been completed and they are now back in use.

"The work for other buildings that were completely destroyed ⁠would begin once the ⁠required detailed reports and designs are ready," Kantha told Reuters, without specifying ​timelines.

The interim government has scheduled new parliamentary elections for March 5, 2026.

(Reporting by Gopal Sharma; Editing by ‌Pooja Desai and Saad Sayeed)

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