KATHMANDU: Finance Minister Rameshore Khanal has stated that the government will bear the losses incurred during the Gen Z protests of September 8 and 9 if they are not covered by insurance or the financial system.

He made this assurance while receiving a report titled ‘Gen Z Movement – Roadmap for the Economy After Destruction’ from the Nepal Association of Financial Journalists (NAFIJ) following their interaction program on ‘The Future Path of Economic Recovery.’

Khanal mentioned that the government is currently collecting official data on the damage. He reiterated that for losses not covered by the market process, insurance, banks, or financial systems, the government itself will make some arrangements.

He confirmed that work is underway through a task force to collect details of ‘loss’ and ‘damage’ to property.

Based on the report, the government will support businesses to restore lost assets, possibly through grants or soft loans, during its tenure.

The Minister also noted that due to the upcoming election, it is not politically easy for the current government to pass laws or issue ordinances on non-election-related matters, but procedural work will be done through cabinet decisions.

NAFIJ President Menuka Karki, while handing over the report, highlighted that the damages from the protest’s intrusion further hurt an economy already recovering from the earthquake, blockade, and COVID-19, necessitating significant resources for recovery.