Kathmandu, Sept 22: The government has decided to provide relief to businesses, industries, and commercial establishments damaged during the recent Gen Z protests.
Finance Minister Rameshwar Khanal said that small projects below Rs 30 million (three crore rupees) and those pushed through political pressure have been put on hold.
“All physical infrastructure, vehicles, machinery, and tools damaged during the September 8–9 protests will be written off from accounts and auctioned if needed,” Khanal told reporters. “Chief District Officers at the district level and the Ministry of Urban Development at the center will coordinate the process.”
The government, Nepal Rastra Bank, and insurance companies will also begin measures to help resume affected businesses, industries, and economic activities quickly.
“To support reconstruction, a 50 per cent customs duty exemption has been approved for imported materials. The Insurance Board will ensure that 50 per cent of claims are paid in advance. The repayment period for loans owed by affected parties will be extended,” Khanal said. “Those who can continue paying staff salaries through loans will be provided concessional credit, while those unable to do so will receive assistance from the reconstruction fund.”
To reduce state spending, projects below three crore rupees and politically motivated ones have been frozen, saving about 120 billion rupees. Khanal added that funds earmarked for such projects can be redirected to pay construction contractors.
People’s News Monitoring Service
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