Govt Estimates Rs 100 Billion in Public Property Damage During Gen Z Protests

Public property suffered damage worth an estimated Rs 100 billion in arson and vandalism during the Gen Z-led protests on September 8 and 9, according to Minister for Physical Infrastructure and Transport Kulman Ghising.

Ghising made the remark Thursday, September 25, while formally announcing the creation of a reconstruction fund for public infrastructure. He noted that the ongoing assessment could push the figure even higher.

The government has formed a Reconstruction Committee chaired by Finance Minister Rameshore Khanal, with Ghising, Home Minister Om Prakash Aryal, and Chief Secretary Ek Narayan Aryal as members.

The destruction of public and private properties has severely shaken investor confidence. On September 23, Confederation of Nepalese Industries (CNI) President Birendra Raj Pandey said industries had incurred losses equivalent to 5 percent of GDP. Earlier, on September 21, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal told Interim Prime Minister Sushila Karki and senior ministers that preliminary estimates put private sector losses from arson, vandalism, and looting at around Rs 80 billion.

Nepal’s GDP was projected by the National Statistics Office to reach Rs 6,107 billion by the end of fiscal year 2024/25, which closed in mid-July.

The protests erupted on September 8, when youths across major cities marched against corruption and the ban on more than two dozen social media platforms imposed by the KP Sharma Oli government. Tensions spiked after demonstrators broke barricades and clashed with security forces. In Kathmandu, police used water cannons, tear gas, and rubber bullets to push back crowds at New Baneshwar as protesters advanced towards the Federal Parliament. A violent crackdown followed, with police opening fire. By the end of the day, about two dozen protesters were reported dead.

Although then Home Minister Ramesh Lekhak resigned that evening and the government lifted the social media ban, public anger only deepened. On September 9, defying curfew orders, mobs—reportedly infiltrated by various groups—torched and vandalised government offices, courts, police stations, residences of politicians, media houses, Bhatbhateni supermarkets, hotels, and vehicle showrooms.

The death toll has since surpassed six dozen, with many more under hospital care.

On September 12, former Chief Justice Sushila Karki was sworn in as interim Prime Minister with a mandate to hold elections within six months. Acting on her recommendation, President Ram Chandra Paudel dissolved Parliament.