Ahead of donors meet, Nepal pegs quake loss at $7 billion

Seven weeks after a 7.9-magnitude earthquake ravaged large parts of the country, Nepal has pegged the total loss from the disaster at $7 billion.

Updated on: Jun 13, 2015, 14:03:28 IST

Hindustan Times | By Utpal Parashar, KATHMANDU

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Seven weeks after a 7.9-magnitude earthquake ravaged large parts of the country, Nepal has pegged the total loss from the disaster at $7 billion.

A-crane-removes-debris-from-the-site-of-a-building-that-collapsed-in-an-earthquake-in-Kathmandu-Nepal-AP-Photo

A report on post-disaster needs assessment by the Nepal Planning Commission (NPC) released on Friday estimated property and assets worth $5.13 billion were damaged by the April 25 tremor and aftershocks.

There was an income loss of nearly $1.87 billion. The report said Nepal needs $6.66 billion —nearly a third of the country's GDP - for reconstruction and recovery.

The report prepared by more than 200 experts from Nepal and abroad covered over 20 sectors that were hit hard by the quake.

The housing sector, with losses of more than $3 billion, suffered the most. The quake, which was followed by a major aftershock on May 12, destroyed more than 500,000 houses and damaged nearly 279,000 others.

Environment, education, tourism, electricity, industry, agriculture, transport and cultural heritage are other sectors that suffered huge losses totalling more than $1.6 billion.

A man cries as he walks on the street while passing through a damaged statue of Lord Buddha in Bhaktapur, Nepal. (Reuters Photo)

The draft report was handed over to Prime Minister Sushil Koirala on Friday. A final copy will be prepared by next week and tabled during an international donors conference in Kathmandu on June 25.

"The report will be the only credible document to seek international support for reconstruction of the damage," NPC member Swarnim Wagle told the Republica daily.

On Friday, Nepal's finance minister Ram Saran Mahat handed over an invitation to Prime Minister Narendra Modi in New Delhi, requesting him to participate in the donors conference.

Following the April 25 quake, the United Nations issued a flash appeal seeking $422 million from the world community for humanitarian assistance in Nepal. Till date, only 31% of that figure has been received.

The Prime Minister's relief fund received nearly $26 million from within the country and abroad.

More than 8,700 people were killed and nearly 22,000 injured in the earthquakes that had a devastating effect on 14 of Nepal's 75 districts.

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ABOUT THE AUTHOR
Utpal Parashar
A seasoned senior journalist, I have nearly three decades of experience across print, digital, and online platforms, covering political transitions, insurgencies, environmental issues, and development stories in India and Nepal. I am skilled in breaking news, leading editorial teams and launch of newspaper editions. I am adept at leveraging digital trends and social media to expand global reach, with a strong ethical foundation and a reputation for impactful journalism. An alumnus of Asian College of Journalism, I joined Hindustan Times in New Delhi as a trainee reporter in May 1997. Over the years, I have been posted in Dehradun, Kathmandu (Nepal) and Guwahati. Currently, as Senior Assistant Editor at Hindustan Times, I lead a team reporting on India’s northeastern states. My work involves in-depth analysis, and engaging multimedia storytelling across formats, including text, photo, video, and interactive content. I am skilled in producing timely, shareable content, leveraging digital platforms and social media to engage global audiences. Throughout my career with the Hindustan Times, I have led diverse editorial teams, designed capacity-building activities, and supported reporters in developing strong story ideas, ethical reporting practices, digital skills, and fact-checking techniques. As Senior Assistant Editor for Northeast India, I have been responsible for guiding correspondents through complex political, humanitarian, and community-level stories using multimedia formats. Earlier, as Foreign Correspondent in Nepal, I produced extensive reporting during Nepal’s democratic transition and the 2015 earthquake and its aftermath.Read More

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