Earthquake-hit Nepal's reconstruction to cost over Rs 500 billion: Government

Kathmandu: The reconstruction of the quake-ravaged Nepal would cost over Rs 500 billion, the Finance Minister said on Friday, as he sought long-term support for bringing the country back on track.

Chairing a meeting of donor agencies, Finance Minister Ram Sharan Mahat said that the preliminary estimated cost for the reconstruction is over Rs 500 billion and works have been started by setting up a fund of Rs 200 billion for the time being.

The Finance Minister said that bringing the flagging economy back on track is very challenging since the economy was adversely affected by the April 25 earthquake that killed over 8,400 people across Nepal.

He said short term support was needed immediately to fulfil the basic needs while the long term support would be required for the reconstruction.

He said the government is working on a long term plan for the same.

Over one million private and public houses and buildings have been damaged totally or partially by the April 25 earthquake and the subsequent aftershocks that rattled the Himalayan nation.

Several other sectors like services industry, agriculture, tourism, health and education have also been badly hit by the quake.

Expressing the determination to reach the assistance provided by the donor agencies to the quake affected people in a transparent manner, the Finance Minister said, "Transparency would be maintained for every rupee received in the name of relief to the earthquake victims and the amount would be audited."

He said a norm has been maintained that the assistance received as relief would not be used for administrative and other expenses.

The Minister said the quake would continue to take the toll on the country's economy in the next fiscal year too.

He assured that the government would carry out reconstruction of the damaged physical infrastructures in the country as per the world renowned Post-Disaster Needs Assessment (PDNA).

In the meeting, Govindaraj Pokharel, Vice-chairman of the National Planning Commission, said the government would temporarily manage the disasters ensued by the earthquake by formulating transitional plan.

Pokharel also commended all the donor agencies supporting in the reconstruction drive.