KATHMANDU, May 11: Real estate investor Ichchhya Raj Tamang said that Nepal's banking sector has financed Rs 120 billion in the housing sector and that around 40,000 people who live in the apartments are on the verge of being displaced.
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Lawmaker Tamang while speaking at parliament meeting on Monday said that the preliminary assessment showed that the sector has incurred a loss of at least Rs 7.5 billion due to the devastating earthquake that rocked Kathmandu Valley and several other districts on April 25.
"Thousands of people living in such buildings are compelled to stay under open sky. Therefore, I demand that the government declare this sector as crisis-hit and announce a special package for its recovery," he said.
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