Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Newly appointed Finance Minister Rameshwor Khanal has pledged strong government support to Nepal’s private sector, assuring business owners that the state stands with them in the aftermath of widespread vandalism and arson during the recent Gen Z movement protests.
On Tuesday afternoon, Minister Khanal, accompanied by Finance Secretary Ghanshyam Upadhyaya, visited heavily damaged automobile showrooms in Thapathali—an emerging auto hub—where Tata Motors, Mahindra, Suzuki, and Hyundai dealerships had been set ablaze and vandalized. Business owners estimated losses of around Rs.5 billion, with at least 30 vehicles destroyed.
Speaking on-site, Khanal urged entrepreneurs to begin the insurance claim process immediately and promised facilitation to ensure quicker disbursements. “The government will work with insurers to provide partial settlements in advance so businesses can begin rebuilding while claims are processed,” he said.
Industry representatives welcomed the assurance. NADA Automobiles Association President Karan Chaudhary said the minister’s commitment offered “a balm in a time of pain.” Executives from Sipradi Trading (Tata), Laxmi Intercontinental (Hyundai), and other auto groups said Khanal’s field presence boosted confidence in government-private sector cooperation.
Khanal also inspected the Koteshwor branch of Bhatbhateni Supermarket, one of 12 stores damaged during the unrest, where Chairman Min Bahadur Gurung described significant losses. Gurung said the minister’s presence provided strength and morale: “Buildings may fall, but Bhatbhateni’s spirit will never break. We will rebuild stronger and continue serving the people of Nepal.”
Minister Khanal’s back-to-back visits come less than 24 hours after assuming office, underlining his stated priority of restoring private sector confidence and safeguarding investment in Nepal’s fragile economy.
Anarchist groups also reduced Chaudhary Group’s factories, various hotels, and other business establishments to ashes. For this reason, the private sector has demanded that the government and the central bank introduce programs to boost morale.
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