<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171148/636937739c7e80680e03fe38jpeg.jpg" alt="" width="1050" height="642"/><figcaption>BHANU BHATTARAI</figcaption></figure>Slippery slope is what banks have been treading on last few weeks by engaging in a price war on deposits. One can understand the soup they are in. Higher interest rates do not bring in significant new deposits, yet they are compelled to raise the rates to retain what they have.They will also be nervous about upcoming outflow from the banking system towards mid January when first tranche of annual corporate income tax is due for payment. Depositors are happy for now but imagine the plight of businesses dependent on bank debt.How long will this credit crunch last? Is there light at the end of the tunnel? Obviously, there will be some relief once government starts releasing payments to vendors and suppliers of various goods, services and developmental works – these are normally bundled toward latter half of a financial year. But judging by how banks behaved last three years, there is no guarantee that the crunch will not resurface next October.Read also:<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/opinion/banks-biting-off-more-than-they-can-chew/" target="_blank" rel="noopener">Banks biting off more than they can chew?</a>, Suman Joshi<a href="https://www.nepalitimes.com/here-now/why-does-the-credit-crisis-keep-repeating-itself/" target="_blank" rel="noopener">Why does the credit crisis keep repeating itself?</a>Band aid solutions will not work anymore. A strong medication must now be administered. It will be painful but, in many ways, <a href="https://www.nepalitimes.com/opinion/banks-biting-off-more-than-they-can-chew/">banks brought it upon themselves</a>. There are fundamental issues with our economy and banking sector that have direct relationships with monetary equilibrium.Here are examples of initiatives banks may consider without any support or concessions from the government or the central bank:Ration credit. Banks resorted to aggressive credit expansion following mandatory increase in paid up capital and in anticipation of rapid economic growth post installation of a stable government. But their reading of monetary environment proved wrong time and again. Deposit mobilisation has not kept pace nor aligned with growth in loan books. The only way forward is to direct credit flow only into areas that will help productivity, until such times that deposit-loan growth mismatch is corrected. In any case, our financial system is banking-heavy and alternative investment options like private equity and venture capital are emerging.Read also:<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://archive.nepalitimes.com/regular-columns/guest-editorial/banking-crisis-explained,1096" target="_blank" rel="noopener">Banking crisis explained</a>, Suman Joshi<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/here-now/crunching-the-numbers-on-credit/" target="_blank" rel="noopener">Crunching the number on credits</a>, Ramesh Kumar and Sikuma RaiExpansion of formal economy. There is no denying that the Nepali economy is growing, albeit driven mostly by private sector. Private wealth has multiplied in value and people are generally better off than they were. Whilst income disparity may have widened, there are reasons to believe that anticipated government spending on infrastructure and creation of enabling environment will help us continue to grow in the medium term. However, a significant part of the economy is in the shadows of formal transactions. Size of our informal economy is estimated at anything between 50 to 100% of the formal one. And we remain a predominantly cash economy. Regulations aimed at channeling financial transactions through banking institutions must be put to use effectively. Banks, on occasions, have resisted implementing regulatory guidelines on cash transactions for fear of losing deposits. We must expand the formal economy to have more money staying within the banking system. Banks can play a catalytic role in encouraging businesses to avoid cash payments.E-payments. <a href="https://www.nepalitimes.com/banner/nepals-budding-e-commerce-ecosystem/" target="_blank" rel="noopener">Digital banking</a> is also an important tool to help expand formal economy. Banks need to take their ongoing initiatives on digital channels to the next level through deeper collaboration with small businesses. For example, it should be possible for a bank (or a number of banks together) to pilot a No Cash Zone in say Durbar Marg area, or the restaurant district of Jhamel, by getting all shops or restaurants to sign up to a campaign to accept digital or card payments only. These are locations frequented by more affluent customers. It can gradually be replicated elsewhere. Obviously, if people can pay for basic purchases like milk and vegetables conveniently through a credit card or a digital wallet, they will carry less cash. That money will stay as bank deposits until spent.Cooling period. A casualty of rapid business expansion has been quality human resource within the banking industry. Growth in banks’ business and branch network create new positions which are often filled by people with lesser skills and experience. Many young bankers hop-scotch their way up through a number of banks and assume positions of responsibility without necessary skills and experience. Add to that generally aggressive lending behavior with excessive reliance on real estate collateral. Frankly, potential for sub-standard loan assets and operational risk in many Nepali banks is cringe-worthy. The IMF has already expressed their concern over quality and sustainability of unnatural growth achieved by the sector in recent years. Just like a cooling period has been made mandatory for CEOs, a mechanism must be put in place to arrest the tendency among employees at supervisory and managerial levels to move to another bank at short intervals for quick gains. Why would a bank invest on training and grooming an employee if only for another bank to offer him a higher position? Many organizations in the western world have stringent non-compete clauses in employment contracts.Writer’s note: I have been a career banker and spent 24 years in the industry. Some may think I’m critical of banks because I’ve retired from banking profession. But I’ve had a fulfilling banking career and I feel deeply indebted to Nepali banking sector for making me who I am. I strongly believe that this sector needs to be understood in correct perspective. Raising contemporary banking issues is my way of giving back to the industry. Also, it sometimes is not feasible for practicing bankers to voice their concerns. All said and done, banking remains the most transparent sector of the economy; its contributions to economic growth have been unmatched. I will continue to share my dui paisa to help regain its stature as a well-respected sector.Suman Joshi is an ex-banker and Chair of True North Associates, a private equity firm.

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Banking on a course correction

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171144/636936869c7e80680e03fde6jpeg.jpg" alt="" width="1500" height="976"/><figcaption>Photo: YUVARAJ SHRESTHA</figcaption></figure>At a ministerial review meeting last month, Prime Minister K P Oli warned bureaucrats he would not take “If’s and but’s” anymore in expediting infrastructure projects. This was his latest strict instruction to ministries to deliver results.Various Parliament committees have also issued similar instructions. Cabinet ministers and secretaries have repeatedly instructed government officials to be result-oriented. Yet, a report this week by the Office of the Auditor General shows that four months into the fiscal year, only 11% of the budgeted capital expenditure has been spent. More frightening: the government spent three times that amount on salaries, administrative costs an overheads.“It is clear that issuing instructions alone will not work,” says economist Keshav Acharya, “instead of more instructions we need to pinpoint obstacles to implementation of projects and remove them.”Read also: <a href="https://www.nepalitimes.com/editorial/communist-capital/" target="_blank" rel="noopener">Communist capital</a>, EditorialHowever, the government already has monitoring and evaluation mechanisms in place: at the Prime Minister’s Office, the National Planning Commission, and the finance and other ministries have their own project assessment committees. Most experts blame the lack of accountability in the political leadership and a lethargic bureaucracy.There was hope that with a strong government commanding a <a href="https://www.nepalitimes.com/editorial/two-thirds-empty/" target="_blank" rel="noopener">two-thirds majority in Parliament</a>, and devolution of power to local governments, things would change. But not only has the development budget remained unspent, but there has been shocking over-spending in current expenditure (administrative cost, salaries, vehicle purchases, or allowances on foreign trips). In the first quarter, the national government spent three times more on current expenditure than on capital disbursement.The government is spending on cars, but not on maintaining roads. Whatever little is disbursed is mis-spent on unnecessary projects like this road that cuts through an ecologically sensitive wetland in Pokhara Valley (above).Most provincial governments have managed to spend even less – only about 1% of their capital expenditure in the first quarter.The inability to spend the development budget has been a chronic malaise in Nepal, but this year, it is worse because of Kathmandu’s reluctance to devolve financial decision-making to local governments. This has triggered a <a href="https://www.nepalitimes.com/here-now/crunching-the-numbers-on-credit/" target="_blank" rel="noopener">credit crunch in the banking sector</a> creation and encouraged migration. At this rate the government will not meet its <a href="http://archive.nepalitimes.com/regular-columns/guest-editorial/guest-editorial-Nepal-economic-growth,923" target="_blank" rel="noopener">8% growth target</a> this year.Says economist Dilliraj Khanal: “The entire system of development administration has become so ineffective that unless it is overhauled, we will not see growth and progress.”Read also:<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/banner/calendar-of-economic-change/" target="_blank" rel="noopener">Calendar of economic change</a>, Om Astha Rai<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://archive.nepalitimes.com/article/editorial/editorial-Nepal-economy,3746" target="_blank" rel="noopener">White swans</a>, Editorial<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://archive.nepalitimes.com/regular-columns/guest-editorial/banking-crisis-explained,1096" target="_blank" rel="noopener">Banking crisis explained</a> , Suman Joshi

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Roadblocks

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171136/636934779c7e80680e03dff9jpeg.jpg" alt="" width="1400" height="1069"/><figcaption>Bhanu Bhattarai</figcaption></figure>Nepal’s banks have once more entered the dark tunnel of scarcity of loanable funds. Commercial banks have misinterpreted the monetary environment for three years in a row -- they lend aggressively during the first quarter, and run out of steam thereafter until the final quarter of the fiscal year.The seeds of the trouble were sown five years ago. As the IMF puts it in its most recent South Asia Regional Update, ‘Loose monetary conditions, along with a fourfold increase in banks’ paid-up capital in the two years to mid-2018 required by the Nepal Rastra Bank (NRB), have fueled a strong credit expansion. Private sector credit growth has averaged 22% (y/y) in the past two years, even as the NRB maintains ceilings on banks’ loan-to-deposit ratio and the loan-to-value ratio on car loans.’Nepal’s financial landscape is heavily skewed towards banking. According to a recent World Bank report, banks account for 87% of financial sector assets in Nepal. Private equity and venture capital space are still in nascent stages. The <a href="https://www.nepalitimes.com/banner/why-the-private-sector-is-spooked/" target="_blank" rel="noopener">private sector</a> thus largely depends on bank debts, and in their absence, businesses have had to postpone plans or slow down operations. This has resulted in increased cost or lost opportunities.Recurring <a href="https://www.nepalitimes.com/here-now/crunching-the-numbers-on-credit/" target="_blank" rel="noopener">credit crunches</a>, which last several months every year, have impacted the economy as a whole. Key responsible parties here are:<ul><li>Government of Nepal for its inability to spend on capital expenditures</li> 	<li>NRB for instigating the crisis and then offering regulatory forbearance that encourages banks to push prudential boundaries</li> 	<li>Banks which appear to be driven with the sole objective of servicing increased capital</li></ul>Nepal’s economic growth over past two decades has been largely led by the private sector, in spite of ineffective governments and inefficient bureaucracy. Banks should refrain from pointing fingers at NRB or the government. The NRB has not always been pro-active, its regulatory approach has often been ‘one step forward two steps back’. The government’s norm has always been to bulk up capital expenditure towards the end of the year. We want NRB and the government to be more responsive, but it will be a gradual process at best. And frankly, the banking business has thrived even in this environment, so let’s be reasonable.Read also: <a href="https://archive.nepalitimes.com/regular-columns/guest-editorial/banking-crisis-explained,1096" target="_blank" rel="noopener">Banking Crisis Explained</a>, Suman JoshiAs the most transparent sector of the economy, the onus is on the banks collectively to manage public perception and repair the community’s battered image. Here’s a list of items they need to consider:1. Anticipate better, and get your basics right. Will the market offer sufficient new deposits to fund growth in loan books? Nepal may be more stable politically, but with compromises from bureaucrats and politicians, it will be a while before their Key Performance Indicators align with Nepal’s aspirations for rapid economic growth. It is unrealistic, this early, to expect government spending to veer from tradition to follow a desired timeline that match banks’ need for new deposits.2. Who is winning that debate in the boardroom? Most banks appear to have adopted a strategy to grow lending books aggressively to meet shareholder expectations of return on equity. The impact of this on their lending behavior is worrisome. What is the quality of loan assets banks are booking when they are expanding at 22% while the economy grew at 3-4% annually over last few years? Also the continued contribution of banks to real estate buoyancy may someday come back to haunt them. Excessive reliance on real estate as collateral has affected a loan officer’s approach to lending. Under the current loan loss provisioning norms and multiple banking context, it is possible to keep masking bad loans, which raises doubts about quality of profits. The IMF has singled out this challenge and suggests: ‘Rapid credit growth underscores the need to accelerate banking sector reforms. Building on the recent amendments to the regulatory framework, loan classification, provisioning, and banks’ risk management practices should be upgraded.’3. Is it possible that many banks have bitten off more than they can chew by expanding their operations and branch network rapidly? Frequency of operational risk events suggests that quality of human resource and internal control mechanisms need significant improvement.Banks have finally acknowledged the need to adopt digital channels of delivery. Better late than never. Even so, there is little chance of sufficient investment happening here. It is not enough to link bank systems to a digital payment platform. A key driver for consumer uptake is a cultural shift within individual banks to champion digital banking services.Read also: <a href="https://www.nepalitimes.com/banner/nepals-budding-e-commerce-ecosystem/" target="_blank" rel="noopener">Nepal's budding e-commerce ecosystem</a>, Sikuma RaiClearly, Nepal is an over-banked economy with smaller banks struggling to stay relevant. Industry experts agree that there is a case for reduction in number of banks. Market prices are currently at interesting levels for more capable banks to consider acquiring other institutions. It may be easier said than done, but if there is an industry-wide resolve, the ducks will line up.Suman Joshi is a former banker and Founder and Chairman of True North Associates, a private equity firm.

Banks biting off more than they can chew?

At the stroke of the midnight hour, it finally came to something everyone in Nepal’s oldest and biggest party had been dreading — a split.
Not that this was anything new. The Nepali Congress (NC) had splintered twice before and the main protagonist both times was five-time prime minister Sher Bahadur Deuba. After the GenZ uprising and being physically mauled and his house looted and set on fire on 9 September Deuba had said he was stepping aside, but it seems old ambitions die hard.
The showdown between the Gagan Thapa-Bishow Prakash Sharma camp and Deuba came to a head on Wednesday as the establishment leadership decided to suspend Thapa, Sharma, and Farmullah Mansoor for five years to punish them for daring to challenge the leadership and hold a special general convention.&nbsp;
Bhrikuti Mandap in the centre of Kathmandu is the venue for trade exhibitions, but this week it was where an exhibition of everything that is wrong with Nepali politics was on full display — lack of internal party democracy and an unaccountable gerontocracy clinging on to power.&nbsp;
Thapa and Sharma had gathered the support of 62% of the NC membership at their convention and chose Gagan Thapa as the new party leader and proposed him as a prime ministerial candidate after the 5 March election.
Deuba’s allies had refused to attend or endorse the special general convention, and were adamant about holding a general convention to choose a new party head after the election. Thapa, Sharma and their supporters argued that the party faced ignominious defeat in the polls if Deuba insisted on being prime minister again.
The events of September 2025 have cast a long shadow over Nepali politics, with many new parties and alliances pledging to represent the aspirations of the GenZ movement. However, that realisation does not seem to have dawned on the tried, tested and failed leadership of the NC, UML and the NCP where the party leaders have held on to power by sidelining all rivals. &nbsp;
Thapa and Sharma were NC general secretaries held multiple rounds of discussions to convince Deuba to accept their eight-point demand that for the party’s and the country’s sake his time was up, and he should cut and cut cleanly. Despite having already handed over the party leadership to Purna Bahadur Khadka in September, Deuba refused to step down.&nbsp;
‘What demands has the Nepali Congress been unable to reconcile that it is headed for a split? There is no ideological dispute, just a proposal to make it easier to go for the election,’ noted journalist and author Narayan Wagle. ‘If those who have been in politics for so many years cannot reach an agreement, what have they learned in life and what hope is there for the country?’
Gagan Thapa was elected unopposed as the new party president on Thursday midnight, with Sharma and Pushpa Bhusal appointed vice-presidents. Thapa has said backroom talks are still ongoing though mediators, but for all intents and purposes the split seems irreconcilable.&nbsp;
The million dollar question now is: who gets to be the real Nepali Congress? Who gets the NC’s tree election symbol at the polls?
Both the Thapa and Deuba factions have written to the Election Commission (EC) laying claim to the party and its symbol. Whatever the EC decides, with less than two months to go for the polls, the dispute over its legitimacy will almost certainly have to be decided in the courts.
Deuba and his counterpart K P Oli in the UML have been unwilling or unable to fathom the level of outrage that young Nepalis feel about their parties. They have shown an inability to heed the call for institutional overhaul within parties and in Nepal’s political culture post-September. Second generation leaders within those parties who have grown old waiting for reform, seem to have better internalised the need for internal restructuring.&nbsp;
Oli has managed to hold on to power after displaying increasing authoritarianism within his UML, while Deuba has shown an unwillingness to bow out of leadership with grace. Both have squandered away their legacy.
For Gagan Thapa, the events of Thursday was a culmination of his long-standing claim for leadership change within the NC coupled with a compulsion to address the demands of the youth movement to maximise gains for his party this election. Just like Deuba, Thapa’s house was also looted and torched during the September protests.
Thapa told Onlinekhabar on Thursday: “Our belief was that we cannot go into elections under the present circumstances under [Sher Bahadur Deuba’s] leadership and with him as the party’s prime ministerial candidate. We would lose.”
The special general convention has taken further steps for reform, endorsing amendments to the party statue, which has set term limits for key leadership positions, including a one-term limit for party president, two-term limit for prime minister, three for a ministerial position, and four terms for a directly elected member of Parliament. Meanwhile, party members are only allowed to become lawmakers through the Proportional Representation system for one term.&nbsp;
If Thapa’s leadership holds legitimacy, this new chapter for the NC might come as a welcome change to young Nepalis who have been calling for leadership overhaul and internal party reforms within the establishment parties. But it may also come at the cost of the NC’s core base. It remains to be seen which side tips the scale at the polls.&nbsp;
The NC’s infighting and institutional shake-up has also posed fresh concerns about how it will affect the election schedule just as it looked as though all the mainstream political parties were finally on board and preparing for the polls. With voting barely weeks away, Nepal’s political parties are still too busy cleaning up their own house to give too much time to work on their platforms, agendas and serious campaigning
Historically, political break-ups and make-ups in Nepal are not set in stone. Even the newest alliance between Rabi Lamichhane’s RSP and Kulman Ghising’s UNP did not even last 12 days. &nbsp;Balen Shah is set to resign from his mayor position in the next and has gotten into the thick of election preparation with the RSP. His next step will be to choose which constituency he is going to contest from.
Meanwhile, in the light of a new day, the two NC factions may still decide that breaking up is hard to do when they are so close to elections, and the political stakes are so high.&nbsp;

Grand split in Nepal’s grand old party

The India Art Fair (IAF) advertises itself as ‘the biggest event in India’s cultural calendar … a leading platform’ for art collectors who can discover modern and contemporary art from South Asia.&nbsp; For this year’s ticketed event on 5-8 February in New Delhi, more than 133 exhibitors from 14 countries will be representing top artists from their networks. Danfe Arts, a touring art space from Kathmandu, will participate in the Galleries Section of IAF’s 17th edition featuring a booth with works by six Nepali artists.&nbsp; One of them is Sanjeep Maharjan, Assistant Professor for Sculpture at Kathmandu University, who will showcase his claywork as part of Danfe Arts’ entourage. In 2024, Maharjan curated a show for Danfe Arts at Takpa Gallery titled, ‘Unfolding the City’. The IAF prefers to showcase skilled artists who have honed their practice over many years. Much like various biennales and residencies that have been popping up increasingly in Asia, the Fair delves into sociopolitical issues of the region such as many comissioned works including <a href="https://indiaartfair.in/exhibitor/yogesh-barve-supported-by-art-charlie" target="_blank">Yogesh Barve</a>’s installation entitled ‘I am not your Dalit’ featured at the feastival last year.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260115110136_13f262546fca46c0fe4d76f758a694afe7c0c1cfee5bf74eb4f257f78734f8f2.jpg" data-media-id="editor_1" data-image-id="20260115110136_13f262546fca46c0fe4d76f758a694afe7c0c1cfee5bf74eb4f257f78734f8f2" data-rendition-name="original" width="989" height="1500" loading="lazy" alt="Nepali artists at India Art Fair"> <figcaption>Anil Shahi's Hand of Hope, Oil on Canvas, 36 x 60 inches. Exhibiting work at IAF.</figcaption> </figure>  As the name implies, it is a grand bazaar where artists and their agents show up, to be seen — a powerful regional platform where creativity merges with commercial interests. This is not necessarily a bad thing. Artists have a reputation for being weak at business.&nbsp; And in Kathmandu, where the contemporary art scene has been steadily expanding since the early aughts, more and more creatives are seeking platforms like IAF and collaborators like Danfe Arts in order to boost their portfolios. A NEW COURSE In 2022, I was invited to participate in a formal group discussion by founder of and curator at Danfe Arts Shivangi Bansal who was preparing to chart a new course with her Danfe Journal. The journal included photos of artworks as well as writings about art and helped bridge the gap between art and the Nepali public’s understanding of associated processes. Contemporary art and literature is considered a niche activity. Proper marketing and outreach is required to make the product accessible to the average consumer. Besides, consistency can also be an issue. Too often, energetic graduates might register organisations and launch initiatives only to burn out within a year or so. Nepali society would benefit more from a sustained effort with a long-term vision rather than trendy initiatives that look bright and shiny. Danfe Arts discontinued the journal but continued to engage with Nepal’s art community, like facilitating a commission for Mini Tamang by the India Art Fair (IAF) in 2025, as part of IAF’s Young Collector’s Program. Tamang’s artwork, ‘Evocative Waves’, was installed at New Delhi’s Stir Art gallery last year. In 2024, Danfe Arts had organised a group exhibition called ‘A Lake That Once Was’ in New Delhi’s Bikaner House to coincide with the India Art Fair, which listed the exhibition as part of its parallel programs. This meant the Nepali artists received more visibility and value among IAF’s much larger audience.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2026011804014_2a15d57a63c375503965a41396b22c006152368a018450d2617f4c8c076ccc74.jpg" data-media-id="editor_2" data-image-id="2026011804014_2a15d57a63c375503965a41396b22c006152368a018450d2617f4c8c076ccc74" data-rendition-name="original" width="1500" height="998" loading="lazy" alt="arts"> <figcaption>A Lake That Once Was, 2024 at Bikaner House, Delhi.</figcaption> </figure>  Since its inception, Danfe Arts has put out an eclectic mix of programs, demonstrating innovative thinking and effort. With its multi-platform approach, Danfe Arts has collaborated with restaurants like Mezze, putting up an exhibition in November 2025, ‘Bhoye - The Feast’. Danfe Arts is also cultivating relationships with specific artists based on synergies and sensibilities.&nbsp; The history of art practice in Nepal is long and illustrious, but due to political and geographical constraints, esteemed artists have been sheltered and confined within our national borders.&nbsp; By featuring these six artists for the 2026 edition of IAF, Danfe Arts is helping them make regional connections. And as our artists and gallerists show up on global platforms, they might in turn compel Nepalis to view more critically the value of art and how creative practices can contribute positively to society. As technology takes over and AI bots spam the Internet, the issue of originality might become tantamount to survival. We should take risks in our professional pursuits in order to design new communal models of exchange. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India Art Fair New Delhi 5-8 February&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2026011804014_f226a31af8a33f8da5e7359886289de3fd1b2db17697b96b909404e582d75124.png" data-media-id="editor_3" data-image-id="2026011804014_f226a31af8a33f8da5e7359886289de3fd1b2db17697b96b909404e582d75124" data-rendition-name="original" width="1500" height="1875" loading="lazy" alt="arts"> </figure>

Nepali artists at India Art Fair

Only a handful of people who witnessed the 1934 megaquake as children are still alive. And the memories of 2015 are fading fast.&nbsp;
We were shaken, but have not stirred into action. We have not even started preparing to be prepared for the inevitable, for it is not a question of ‘if’ but ‘when’.&nbsp;
Thursday 15 January was National Earthquake Safety Day commemorating the 1934 disaster that killed 10,000 people in Kathmandu Valley at a time when its population was barely 100,000.
Nepal is in an active seismic zone, and a really big one is overdue in the seismic gap in western Nepal where there has not been a megaquake for 500 years. The 7.8M quake in 2015 did not completely release the tectonic stress below Central Nepal.
An 8M+ earthquake epicentred in western Nepal will be even more violent than the 2015 one in Kathmandu and will be powerful enough to cause destruction across northern India as well.&nbsp;
We Nepalis are resilient, but we are also complacent and fatalistic. How else does one explain the unsafe and unplanned building construction in Kathmandu, Pokhara and other towns despite frequent reminders of what quakes can do?&nbsp;
Most designs are ad hoc and follow no engineering logic. Reinforced Cement Concrete (RCC) is now widespread across the country since such structures mostly withstood the 2015 event. But structural engineers say most concrete buildings are substandard, and can be death traps. Also, the country lacks equipment and training for search and rescue in cement houses.&nbsp;
FIRE HAZARD
If an earthquake struck Kathmandu on a windy winter evening, there is the added risk of fires from gas cylinders in collapsed buildings spreading across the densely packed city core. Fire trucks will not be able to reach those areas because the streets will be blocked.
Seismic risk is now amplified by climate breakdown. Nepal now needs to factor in the co-hazard of massive avalanches and Glacial Lake Outburst Floods (GLOFs) triggered by future earthquakes. There are 41 potentially dangerous glacial lakes in the region, and 27 of them are in Tibet feeding rivers that flow into Nepal. A megaquake there could cause multiple simultaneous GLOFs.&nbsp;
If the 2015 earthquake had not happened on a Saturday, tens of thousands of children could have been killed in the 7,000 schools that were flattened. More than 2,500 government buildings came down, and would have killed and trapped many if it had not been a weekend.
Schools and health facilities retrofitted before the disaster were unscathed, and served as shelters for survivors. Chhatrapati Free Clinic (CFC) was reinforced three years before the earthquake for Rs5.2 million, and with support from National Society of Earthquake Technology (NSET), 800 community members were trained in search and rescue.
Bhuwaneswori Secondary School in Bhaktapur and Bal Bikas Secondary School in Kathmandu both survived 2015 because they had been retrofitted. Singha Darbar, the Supreme Court and the Department of Roads buildings were also made seismic resistant after 2015 quake, but the arson attacks on 9 September gutted them.
While many private residential homes built after 2015 continue to flout building codes, municipalities are now stricter. New schools and colleges, hospitals and high rises now have to meet stringent requirements for seismic resistance.
Nepal is a hotspot for many types of disasters — earthquakes, floods, droughts, glacial outbursts, wildfires. These are not ‘natural’ disasters, they are human induced. Earthquakes do not kill people, poorly-built buildings do. Climate breakdown is anthropogenic.&nbsp;
Waiting for a disaster to strike means we have waited too long. Search and rescue readiness are well and good, but much more important is preparedness — seismic resistance structures especially of public buildings, strict zoning to establish open spaces, pre-positioning supplies and simulated drills.
We do not know how much time we have before the next one. But it is not too late to start preparing. &nbsp;
Sonia Awale

Shaken, but not stirred

The series <a href="https://nepalitimes.com/multimedia/looking-good-by-doing-good">Nepal Made</a> profiles world-class Nepali products and the people behind them. Deepak Acharya was born and raised in Simara, before his uncle took him to Pokhara when he was only in sixth grade. After class, he helped sell jackets and outdoor gear at his uncle's Lakeside store. &nbsp; Twenty-two years later, &nbsp;Acharya is still selling jackets. Not international brands like he used to, but products of his own outdoor gear company, DOLPO.&nbsp; Acharya and his brother-in-law, Krishna Ammai, started making and selling jackets and gear for international companies out of Thamel. After losing his business partner in the 2015 earthquake, he was done selling imported items. He launched his own line of outerwear, named after Nepal’s rugged and remote district, known for its stunning arid landscape. The careful selection of the name DOLPO paid off. It took off, providing a high-quality, affordable Nepal-made alternative to foreign companies.&nbsp; “A lot of work went into choosing the name Dolpo,” says Acharya, who considered what came into people’s minds when they heard the name of a place with double-O sound. “I wanted a brand that local customers would instantly relate to toughness and mountains.” The elegant logo reflects this as well, made up of two overlapping rounded triangles denoting mountains with a third peak in the middle. Underneath is ‘DOLPO’ in upper case sans serif.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260116120148_968d9354094049265372d851d0e44e16ae4fc86b5631481e365e6e977f13d37d.jpg" data-media-id="editor_1" data-image-id="20260116120148_968d9354094049265372d851d0e44e16ae4fc86b5631481e365e6e977f13d37d" data-rendition-name="original" width="854" height="1280" loading="lazy" alt="Dolpo NT"> <figcaption>Photo: DOLPO</figcaption> </figure>  RIGHT QUALITY, RIGHT PRICE “Our philosophy is Right quality, Right price,” says co-founder Deepak Acharya, adding with a smile that the pricing strategy of a particular competitor has made business easy: “The employees at North Face may sell North Face, but they wear Dolpo.” The rebranding was so successful that Acharya regrets not launching it sooner. The reason for the success is that the outdoor gear market in Nepal has taken off with more and more domestic tourists trekking in the high mountains to share their adventures on social media.&nbsp; Nepalis seem to be consciously choosing sustainable, Nepal made products of international quality. Acharya says: “Of course, there will always be a demographic that only wears North Face, or Sonam. But we have the right design, right price philosophy.”&nbsp; DOLPO uses fabric and material mainly from Japan, and adheres to strict quality control. The reversible down jackets, windcheaters, shorts, fleece-lined pants, trekking trousers, backpacks, and polo shirts can be bought through its website, or two exclusive flagship stores in Sorakhutte and Thamel Chok. “After the rebrand, we slowly made a digital platform, marketed online, and worked with a delivery company to get items directly to buyers,” says Acharya. “We have no brokers or middlemen to keep prices low for the consumer.” DOLPO is a family business with Acharya’s mother and sister also involved, and nephew Nishant Ammai driving digital sales. Acharya points out that there is a lot of business opportunity in Nepal, as there are too many low-quality products being sold at too high a price. &nbsp;“The market is begging for an auto-correction,” he says. For Nepal’s pessimistic youth who are fleeing the country, Acharya urges patience: “The younger generation wants shortcuts. The mindset is to set up a venture and in three years they will be set for life. But this is not how success works.” “Choose a field, put in ten years of effort, really learn about it, and then you will see the vast possibility present in Nepal,” he continues.&nbsp; Last month, the DOLPO logo was seen on the jerseys of the Biratnagar Kings in NPL 2. The company made hats, jackets, and jerseys for star-studded cricket players including Lokesh Bam, Sandeep Lamichhane, Faf Du Plessis, and Martin Guptill. The Kings finished second in the group, and although Acharya is a football fan, he is happy to contribute to the rise of cricket in Nepal. &nbsp;&nbsp;