Every single nation of the world is suffering from the Covid-19 and for now, there is no authentic solution that has come forward to cure this epidemy. Meanwhile, talking about Nepal, the first case of COVID-19 was confirmed in Nepal on 23 January 2020 and the first case of local transmission was confirmed on 4 April in Kailali District. Whereas the first death occurred on 14 May.
A country-wide lockdown implemented on 24 March 2020 and was scheduled to end on 2 June. But it’s been two months and there are no signs when people will be back in normal life. Furthermore, this article has discussed the overall impact of Coronavirus Covid19 in Nepal.
The most unforeseen and rising economic expulsion is happening in a Nepalese economy due to the covid-19 epidemic. Almost every segment of Nepal ‘s economy is suffering from the outbreak of this deadly epidemic. In this challenging situation, not only remittance but also labor-intensive services and manufacturing companies are profoundly affected.
The rise in demand is not making an increase in supply due to different issues, and since the outbreak, 15,880 people are officially jobless. The high revenue generator of Nepalese economic sectors like microfinance, Banks, trade, and agro-based industries every one of them is suffering from significant loss. And many business and start-ups are on the brink to collapse.
The outbreak has severely struck the travel, air transport, and the hospitality sector. By the way, before the Coronavirus outbreak, the Nepal tourism sector predicted to be a boom. And with the effort of private and non-private organizations, millions of dollars were poured in Nepal 2020 visit launch campaign in January 2020. Tourism year once envisioned to welcome the 2 million tourists this year. However, after the COVID-19 outbreak, every single economic plan seems to outrun.
The pursuit of isolation throughout the globe has caused the cancellation of all spring mountaineering expedition, and according to Everest Ascent, the outbreak of the Coronavirus in Nepal has resulted in over 13000 jobs lost for trekking guides, tour guide, and travel agencies staffs. The loss in the tourism sector has also impacted banks’ investments in the tourism sector. Banks are unable to receive their loans and interest payment from their borrowers.
Wholesale and Retail Business
In developing countries like Nepal, wholesale and retail businesses considered the second most significant contributor to governments’ annual revenue. The sector contributes 14.37 percent to the Nepalese economy. Meanwhile, since the outbreak of the Coronavirus in Nepal, the business owner is suffering from a significant loss.
Especially retail and wholesale businesses because they largely depend upon the physical market, and the restriction of government has resulted in almost no sales for these industries. Therefore, these types of businesses are about to collapse if the lockdown goes for more days.
For two months, the Education system in the country has ruined. Every single educational firm and institution has been closed down to stop the spread of COVID-19. New sessions supposed to start in every school, but none of them are succeeding due to the rising number in COVID-19. Moreover, the Nepali Government has already postponed the Secondary Education Examination (SEE) 2076 that was supposed to be held from March 19 – 30, 2020. Additionally, the education ministry has also postponed the Grade 11 and Grade 12 Board Examinations.
Not only the school level, Tribhuvan University, Purbanchal University, Pokhara University as well as Kathmandu University, the every major University of Nepal has also postponed their expected results and examination. However, some faculties are operating online classes. Meanwhile, even many schools in the country has started to give online courses. But online studies are new among the Nepalese students and teachers so, the effectiveness of online classes is a bit deemed.
The health sector of Nepal is severely impacted due to Covid-19. Meanwhile, as per May-31-2020, there are 1401 COVID-19 cases are registered. So far, 219 has been recovered from the diseases. And sadly, there is six death due to this epidemy. Besides all these, the health sector of Nepal is also suffering from a lack of tools and equipment to fight against the Coronavirus.
In the meantime, Nepal Army has brought basic medical kit in Nepal through the G2G process with China. But an expert has predicted that the amount of medical equipment brought by the Army is not just enough for the long run. Therefore, even Doctors and nurses, the frontiers are also in great danger due to a lack of medical equipment. And so far Nepalese government has not taken any futuristic and practical steps to stop global epidemy Covid-19 spread.
We have read all the negative impacts of COVID-19, but in terms of environment, it has brought some positive and miracle changes. Carbon emission and world pollution has been decreased drastically. Similarly, the Nepal climate has also seen several improvisations these days. However, in 2016 Nepal showed poor index in Environmental Performance Index and capital city Kathmandu was the seventh most polluted city in Asia.
According to the WHO report, the 2019 average of 37,399 people died due to the air pollution in Nepal. But, currently, due to restrictions on traval and tours, 25% of global carbon emission has been decreased. Moreover, NASA has confirmed the positive change in the Ozone layer too.
Foreign employment is the main factor to smooth the Nepalese economic activity. The unemployment problem within the nation has brought high revenue for the government in the form of remittance. Out of the total population of 28.34 million, approximately 10.11 million Nepalese people engaged in foreign employment. The money that labor migrants sent back in 2019 contributed 26 percent in GDP.
The rise in Covid-19 patient and its death toll has impacted in the inflow of transfer and funds, which was the massive set of Nepalese government income. In these two months, the remittance source has been contributed less than 1percent in the country’s economy. The downturn in remittance has created a severe impact on overall consumption in the country.