Private sector bears bulk of Bhotekoshi flood losses
Summary
The August 26 Bhotekoshi flash floods caused an estimated Rs408 billion in damage and losses, with more than two-thirds falling on private businesses, households and privately owned infrastructure. Hotels, hydropower projects, homes, schools and telecom facilities were among the hardest hit across five districts.
Key Points
- A government preliminary assessment puts total flood damage and economic losses at Rs408 billion across five districts, with nearly Rs300 billion borne by the private sector.
- Nearly 4,800 businesses, 13 hydropower projects, 7,570 houses and several banks, farms and telecom towers were damaged.
- The floods have severely disrupted tourism, energy, housing, agriculture and education in the Bhotekoshi corridor and nearby districts.
- The Cabinet has approved an initial recovery package for affected businesses, including customs duty exemptions and tax relief.
