Nepal government's nod to set up the fund came a day after Sherpa guides warned of an agitation if their demand of Rs 1 million in compensation for the families of their 13 colleagues killed in the deadliest accident on Mount Everest last week was not met.
Tourism Minister Bhim Prasad Acharya assured Sherpas to set up a fund for the victims of mountain disasters by setting aside revenue generated from climbing expeditions.
The minister's remarks came after Sherpas made a number of demands such as Rs 1 million compensation to the kin of the deceased, bearing all the expenses for the treatment of the injured mountain guides, doubling their insurance which is USD 10,000 at present and installing statues of all the climbers killed in the avalanche last week.
In the wake of the demands, the government decided to raise the insurance coverage of mountaineering guides and Everest Base Camp workers to USD 15,000. The medical insurance coverage has also been raised to USD 40,000 from the earlier amount of USD 30,000, Nepali media reported.
"I express my deep grief on the demise of the climbers and extend heartfelt condolence to the grief stricken families," Acharya said.
"We cannot do much when natural disaster like this occurs, except carrying quick rescue works, which we have done as per our capacity," he said.
The 150,000 compensation each to the families of the victims comprised of Rs 50,000 given by the government and the rest by two private organisations - Nepal Mountaineering Association and Himalayan Rescue Association.
Similarly, the Rs 105,000 given to the injured comprises of Rs 35,000 by the government and the rest by the two organisations.
The climbers had yesterday announced to halt mountain activities for seven days to mourn the demise of sixteen climbers.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
