Nepal’s Prime Minister KP Sharma Oli has stepped down amid escalating unrest following a violent crackdown on September 8, that killed 20 demonstrators engaged in the so-called “Gen-Z protests”.

According to a report by Kantipur, in his resignation letter submitted to Nepal’s President, Oli said he was relinquishing the post under Article 77 (1) (a) of the constitution, citing extraordinary national circumstances. He noted the decision was aimed at enabling a political resolution within constitutional bounds.

Nepal’s Prime Minister’s Secretariat confirmed the resignation. The move came as senior ministers resigned one after another. Nepal’s Home Minister Ramesh Lekhak quit on September 8, followed by Agriculture Minister Ramnath Adhikari and Health Minister Pradeep Poudel on September 9. Later in the day on September 9, Youth and Sports Minister Tejulal Chaudhary also stepped down.

Despite this exodus, Nepal Congress party president Sher Bahadur Deuba signalled no intention of leaving the ruling coalition. As unrest spread across the capital, protesters breached the perimeter of Nepal’s main government complex at Singha Durbar, while others attempted to storm its eastern gate.

Several government residences came under attack. Nepal’s Army evacuated ministers from their homes in Bhaisepati by helicopter as demonstrators torched properties.

The residence of Prime Minister Oli in Balakot was set ablaze, while homes of leaders including Communist Party of Nepal(UML) politician Pradeep Gyawali and Congress figure Pradeep Poudel were vandalised or burned.

Security forces redeployed to protect parliament and sheltered senior officials in army barracks. The protests, driven by anger over corruption, injustice and misrule, show no signs of abating and Oli is expected to flee the country.

Nepal's stock indices and the overall share market also took a double digit plunge in response to the deteriorating security and law and order situation in the country.