Violent Protests Cause Billions in Economic Losses, Durga Prasai Leads Royalist Rampage

A wave of violent protests rocked Kathmandu Valley on Friday, inflicting severe damage on the nation’s economy. Led by medical entrepreneur and self-proclaimed "commander" of the Joint People’s Movement Committee, Durga Prasai, the demonstrations demanding the restoration of the monarchy spiraled into chaos, with widespread destruction of private property, businesses, vehicles, and media houses. The unrest claimed two lives and left seven people injured, spreading fear across the country.

Escalation of Violence

The protests began in the Tinkune area and quickly escalated into violence. Demonstrators attempted to breach police barricades, leading to clashes. Stones were hurled at security forces, prompting police to respond with tear gas and physical intervention, according to police sources. The situation worsened when Prasai’s vehicle broke through the police cordon, emboldening the crowd. The unrest spread to areas like Koteshwor, Baneshwor, Balkumari, and Narephat, where protesters set fire to hundreds of vehicles and vandalized private buildings indiscriminately.

The violence kicked off with an attack on the Marble House in Tinkune, where arson left the building in ruins. Nearby properties also suffered significant damage from stone-pelting. Local resident Nayan Pandit described the ordeal: “We were inside our home when the protesters started throwing stones. The outer part of my house is completely destroyed. It’s something we never imagined.”

Assault on Private Businesses and Media

The rampaging mob looted the Bhathbateni Super Store and attacked shops and homes in Koteshwor and Balkumari. A government-owned facility, the Herbs Production and Processing Company in Jadibuti, was also torched, causing substantial losses to public property. Media outlets were not spared either, with attempts to vandalize the offices of Annapurna Post and Kantipur Television, raising concerns over press freedom.

Economic Fallout

The economic toll of the unrest has been staggering. According to the National Statistics Office, Nepal’s Gross Domestic Product (GDP) exceeds 5.7 trillion rupees. Experts estimate that a single day of shutdown or protest typically costs the economy between 3 to 4 billion rupees. However, Friday’s widespread arson, vandalism, looting, and disruption of public transportation are believed to have pushed the losses into the tens of billions, based on preliminary government assessments.

Rajesh Kumar Agrawal, President of the Confederation of Nepalese Industries, condemned the violence as unlawful and anarchic. “In a democracy, peaceful protest is a right, but no one has the liberty to destroy private property or engage in looting. This incident has caused immense losses to businesses and posed a serious threat to the nation’s economic stability,” he said.

Durga Prasai’s Controversial Role

Durga Prasai has long been a polarizing figure, accused of spreading rumors against banks and encouraging a campaign to default on loans. His leadership in this violent protest has further intensified scrutiny of his actions. While framed as a movement for monarchy restoration, the demonstration’s descent into violence has cast doubt on its intentions and methods.

Government Response and Next Steps

To quell the unrest, the government deployed additional security forces across the affected areas. The Home Ministry has announced an investigation into the incidents and vowed strict action against those responsible. However, the events have exposed vulnerabilities in protecting private property and maintaining economic stability amid such upheavals.

As the dust settles, the nation grapples with the aftermath of a day that not only claimed lives but also dealt a severe blow to its economic and social fabric.