Kathmandu. After the Genji movement has caused billions of rupees in the business sector across the country, Nepal’s big corporate companies, banks and business organizations have started decisive CSR (Corporate Social Responsibility) and financial support initiatives for the revival. This cooperation is considered important not only in the business sector but also in improving the economic health of the nation as a whole.
Damage and response to major areas
Retail, financial and hospitality sectors were among the worst affected by the protests. Bhattbhateni Supermarket, the largest retail chain in Nepal, has announced a major financial support for repairs to 21 of its 28 outlets. It has played a leading role in rebuilding the business infrastructure.
Ncell, like in the past, continues its historic pledge of NPR 1 billion in rebuilding education and infrastructure, focusing on rebuilding damaged schools and local services.
Kamana Sewa Bank, Rastriya Banijya Bank, Himalayan Bank, Standard Chartered Bank, and Global IME Bank have set up an emergency fund for the repair and maintenance of damaged branches and for the security of their staff. This shows a commitment to keep the services running even after the serious attack on financial infrastructure.
The Hilton Hotel alone has suffered more than $60 million in physical damage. The hotel management has announced a big fund for renovation and local employment. This highlights the resilience of the tourism industry and the importance of its revival.
long-term partnership and revival plan
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The Gold and Silver Dealers’ Association has redirected the CSR fund to support its members. Similarly, insurance companies have pledged to manage claims of more than Rs 50 billion and provide special resources for the revival of the customer business.
Business leaders, including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), have been in constant dialogue with the government for the establishment of a permanent economic recovery fund and regulatory flexibility. This collaboration demonstrates the responsibility of the private sector and their active role in national reconstruction.
This has given a message that Nepal’s private sector is not only profit-oriented but also ready to join hands in social responsibility and the nation’s crisis. This has laid a strong foundation for dealing with such challenges in the future.
