Rs 18.5 billion for post-disaster reconstruction

Kathmandu: The government has allocated Rs 18.5 billion for the post-disaster reconstruction works for the fiscal year 2082/83 BS.

Unveiling the annual budget at the joint session of the Federal Parliament today, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel said that the amount has been allocated for the reconstruction of private houses, schools, public infrastructures, and archaeological and cultural heritages damaged in earthquakes and monsoon-induced disasters in the upcoming FY.

The budget has stated that risk reduction would be ensured by developing the early-warning system and in the capacity building of human resources to be deployed in disaster management and response.

Likewise, Minister Paudel stated that the scope of property insurance will be expanded to protect property from being damaged by natural disasters and accidents.

As announced by the Finance Minister, the insurance companies would be directed to expand their services up to the rural level.

Similarly, the cybersecurity insurance service will be run in the upcoming FY.

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