President of the Confederation of Nepalese Industries (CNI) Birendra Raj Pandey has said that the destruction caused by vandalism and arson during the Gen Z protests amounts to nearly five percent of Nepal’s Gross Domestic Product (GDP).
Speaking at a program organized to welcome the new working committee of the Society of Economic Journalists Nepal on Thursday, Pandey said attacks on the private sector during political movements are “unfortunate” and deeply damaging to the economy.
“There has been huge destruction in the private sector in the recent agitation. Despite its remarkable contribution to the economy, the sector continues to face repeated attacks. As per preliminary estimates, the damage from the Gen Z protests equals around five percent of GDP,” Pandey said.
He stressed that Nepal has failed to properly acknowledge the role of the private sector in society, politics, and daily life. “Problems will persist until public perception of the private sector changes,” he added, urging policymakers to prioritize entrepreneurship and encourage youth participation in business.
Pandey also warned that the protests had created doubts among investors, and called on the government to take urgent measures to create an investment-friendly environment.
Other Voices
Outgoing CNI President Rajesh Kumar Agrawal suggested that the country should adopt a multi-rate VAT system to strengthen revenue mobilization.
Similarly, Pawan Kumar Sharada, CNI President for Koshi Province, said government policies should be inclusive of all sectors and responsive to real business needs. He underlined that while the Gen Z protests brought significant destruction, they also created an opportunity to steer the country toward good governance.
