KATHMANDU: Finance Minister Rameshwor Khanal has said that preliminary assessments show the private sector suffered losses amounting to nearly Rs 36 billion due to vandalism and arson during the Gen-Z protests.
Speaking at an event organized by the Nepal Chamber of Commerce in Kathmandu on Sunday, Minister Khanal said damages were recorded in 1,957 units across 55 districts, of which 419 private-sector structures accounted for an estimated loss of Rs 36 billion.
He added that insurance claims totaling around Rs 23 billion have already been filed for damages in the private sector.
Assuring that the government would not adopt a control-oriented approach toward businesses, Khanal emphasized the need to strengthen trust between the government and the private sector. He said the government would move forward in line with the recommendations of the High-Level Economic Reform Commission and would prioritize revitalizing the capital market and the real-estate sector.
He also noted that efforts are underway to address the challenges facing the real-estate industry.
At the event, Nepal Chamber of Commerce President Kamlesh Kumar Agrawal suggested implementing a one-window system for taxation, making tax procedures more technology-friendly and avoiding uniform treatment of different types of transactions. He also called for the withdrawal of the working capital loan directive issued by Nepal Rastra Bank.
The Chamber further urged the government to introduce an investment promotion policy and take necessary measures to revive the sluggish real-estate sector.
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