As the country is engulfed by the second wave of COVID, an unprecedented crisis has developed in the private sector. Millions of people have lost their jobs as a result of month-long prohibition orders in most sections of the country.
After the prohibitory order was issued, many people returned to the village from Kathmandu. The majority of them are now unemployed. Even in Kathmandu, most industries and factories have come to a halt, and employees have been unable to report for work. When industrialists are unable to conduct business, they must struggle to pay their employees. The COVID wave has a significant impact on several industries, including tourism, transportation, and construction.
How many jobs have been lost?
There are no accurate figures on how many employment were lost as a result of COVID. The General Federation of Nepalese Trade Unions (GEFONT), a workers’ representative organisation, has declared that a prohibitory ban that began on April 29th has resulted in the loss of 3 million employment.
According to FNCCI President Binod Shrestha, the second wave has caused a major job issue. According to Shrestha, prior to the COVID outbreak in Nepal, 13.5 million people were working in the formal and informal sectors throughout the country. The informal sector provided 80 percent of the 13 million jobs.
‘During the previous lockdown, approximately 1.5 million individuals were laid off in both locations. Those who lost their employment as a result of the lockdown were progressively re-hired. However, the second wave of COVID took the jobs of 3 million