https://www.youtube.com/watch?v=i_v2WvLvdGE&amp;feature=youtu.beThe discovery that the 12th-century deity stolen from his neighbourhood had turned up in Dallas, Texas, was a bittersweet one for Bhai Raja Shrestha.The statue of Laxmi-Narayan was stolen 30 years ago at a time when Kathmandu Valley was being plundered of gods and goddesses by western art collectors. It was recently tracked to the Dallas Museum of Art by American artist <a href="https://archive.nepalitimes.com/article/nation/Narratives-of-Faith-and-Memory-Remembering-the-Lost-Sculptures-of-Kathmandu-exhibition,987" target="_blank" rel="noopener">Joy Lynn Davis</a>, who has documented Kathmandu’s missing deities through striking works of visual art.The 700-year-old stone figure was once an integral part of the intangible heritage of Patan’s Patkutole neighbourhood. After it was stolen in 1984 Shrestha says the community also started falling apart.Read also: <a href="https://archive.nepalitimes.com/article/nation/Nepal-needs-to-be-prepared-for-the-return-of-stolen-religious-figures,986">Back where they belong</a>, Bhrikuti Rai<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101136/636b75219c7e80680e0623d3jpeg.jpg" alt="" width="1500" height="787"/><figcaption>The original 12th-century Laxmi-Narayan stolen in 1984. Photo : LAIN SINGH BANGDEL In Sotheby's catalogue in 1990. Photo : ERIN L. THOMPSON The deity in the Dallas Art Museum in 2014. Photo : ERIN L. THOMPSON</figcaption></figure>“We are glad our god has been located in Dallas. We will try our best to bring it back, but we must also ask ourselves whether we are up to taking good care of it,” says Shrestha, 77, a social activist in the Patkutole neighbourhood of Patan.Shrestha recalls that the theft was a heart-wrenching moment for the community and especially for those for whom Laxmi-Narayan is a patron deity. “People used to come in large numbers every day to this temple for puja, but after the god was stolen this changed. Now it is a whole generation later and the temple has suffered from the god’s absence.”Even though the figure was replaced by a poor replica in 1993, and the temple itself renovated in 2006, the neighbourhood does not attach the same importance to it. “God is god regardless of it being a replica or not. However, it does pinch you that the original piece is among foreigners who could not care less about its religious significance,” Shrestha adds.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101136/636b75249c7e80680e0623d4jpeg.jpg" alt="" width="1500" height="1125"><figcaption> </figcaption></figure>After it was stolen, the rare androgynous composite deity was sold by the Sotheby's auction house (it was sighted in the Sotheby's catalogue in 1990), and it was later loaned for 30 years to the Dallas Museum of Art by a collector named David T Owsley. After the figure on display at the museum was found to be the stolen Laxmi-Narayan, this was pointed out to the museum by art crime scholar <a href="https://hyperallergic.com/author/erin-l-thompson/" target="_blank" rel="noopener">Erin L. Thompson</a>. In response, the <a href="https://twitter.com/DallasMuseumArt/status/1197212359003197441" target="_blank" rel="noopener">Dallas Museum of Art tweeted on 20 November 2019</a>, “The Dallas Museum of Art takes these matters very seriously and we are currently looking into this.” The deity has since been removed from display.The figure, also called Vasudeva-Kamala, is one of those many Kathmandu Valley deities that find themselves in museums or at <a href="https://archive.nepalitimes.com/article/nation/Narratives-of-Faith-and-Memory-Remembering-the-Lost-Sculptures-of-Kathmandu-exhibition,987" target="_blank" rel="noopener">auction houses</a> in Europe and the United States. Although the government abides by UNESCO’s international laws on import and export of cultural properties, and has its own Ancient Monument Preservation Act, the process of repatriating stolen antiquities is legally cumbersome.“The Dallas Museum has to return our cultural property. It is proven that it’s ours, and we are working to get it back,” acting director of the Department of Archaeology Damodar Gautam, told Nepali Times. He admitted the process is tedious: his department has to write to the Ministry of Culture, which will forward the request to the Ministry of Foreign Affairs, the US Embassy and the Nepal Embassy in Washington, DC, the last of which will take it up with the US government and finally the Dallas Museum of Art.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101136/636b75289c7e80680e0623d5jpeg.jpg" alt="" width="1500" height="1083"><figcaption> </figcaption></figure>The Department of Archaeology has a scanty inventory of stolen deities, and does not keep a record of <a href="http://archive.nepalitimes.com/news.php?id=5021#.Xkz2vhoza70" target="_blank" rel="noopener">artifacts that have been returned</a>. Its records of the latter say merely that 32 stolen <a href="archive.nepalitimes.com/blogs/thebrief/2017/06/18/religious-figures-returned/" target="_blank" rel="noopener">figures have been returned since 1996</a> (mainly from <a href="archive.nepalitimes.com/blogs/thebrief/2017/06/18/religious-figures-returned/" target="_blank" rel="noopener">museums in Europe</a>), from the thousands that have been trafficked by art thieves.The government’s responsibility to protect Nepal’s living heritage is being filled by people like Roshan Mishra, curator of the Taragaon Museum, who has documented many of the stolen artefacts on his website, <a href="https://globalnepalimuseum.com/" target="_blank" rel="noopener">Global Nepali Museums</a>. Mishra’s data shows that most of the smuggling has occurred since the 1970s, and <a href="http://archive.nepalitimes.com/article/nation/Nepal-needs-to-be-prepared-for-the-return-of-stolen-religious-figures,986" target="_blank" rel="noopener">41 museums all over the world</a> exhibit stolen stone, bronze, terracotta and wooden religious artefacts from Kathmandu. These institutions include the <a href="http://collections.vam.ac.uk/item/O139371/relief-panel-relief-panel-unknown/" target="_blank" rel="noopener">Victoria and Albert Museum</a> in London, the <a href="https://denverartmuseum.org/collections/asian-art" target="_blank" rel="noopener">Denver Art Museum</a> and the <a href="http://collection.sdmart.org/Obj11073?sid=349&amp;x=5515&amp;sort=9" target="_blank" rel="noopener">San Diego Museum</a> in the United States, the <a href="https://www.rom.on.ca/en/exhibitions-galleries/galleries/world-cultures/sir-christopher-ondaatje-south-asian-gallery" target="_blank" rel="noopener">Royal Ontario Museum</a> in Canada and many others.“Our idols are auctioned for millions of dollars abroad and we cannot do much about it because of the long and slow bureaucratic process. The government needs to be more resolute in getting them back, otherwise they will remain abroad,” says Mishra.Read also: <a href="http://archive.nepalitimes.com/news.php?id=2710#.Xk59PjIzbIU" target="_blank" rel="noopener">Here today, in Europe tomorrow</a>, Janki Gurung<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101136/636b752b9c7e80680e0623d6jpeg.jpg" alt="" width="1500" height="754"><figcaption> </figcaption></figure>In 2010, a bronze Garuda water spout, <a href="http://archive.nepalitimes.com/blogs/kundadixit/2010/08/17/good-job/" target="_blank" rel="noopener">a centrepiece of the Sundari Chok</a> in Patan Darbar Square, was stolen. It was <a href="http://archive.nepalitimes.com/blogs/thebrief/2011/09/10/stolen-treasure-found-2/" target="_blank" rel="noopener">retrieved by police a year later</a> in Kathmandu. Currently, the exquisitely carved 120-year-old figure is on display at the National Museum at Chhauni. A replica bronze created by artisans at the <a href="http://archive.nepalitimes.com/news.php?id=17399#.Xk55RYjBXIV" target="_blank" rel="noopener">Kathmandu Valley Preservation Trust</a> (KVPT) is now at Sundari Chok.“It was essential that we come up with a solution rather than wait for the statue to return to the original place,” explains <a href="https://www.nepalitimes.com/banner/learning-from-nepals-past-to-rebuild-its-future/" target="_blank" rel="noopener">Rohit Ranjitkar, director of KVPT</a>, who says that putting the original back would have risked another theft.Read also: <a href="http://archive.nepalitimes.com/blogs/kundadixit/2010/08/17/good-job/" target="_blank" rel="noopener">Good job</a>, Kunda Dixit<a href="http://archive.nepalitimes.com/news.php?id=11342#.Xk58uDIzbIU" target="_blank" rel="noopener">Return of the gods</a>, Sujata TuladharLain Singh Bangdel’s <a href="http://archive.nepalitimes.com/news.php?id=5250#.Xk55d4jBXIU" target="_blank" rel="noopener">Stolen Images of Nepal</a> (1989) and Jürgen Schick’s <a href="https://www.amazon.ca/The-Gods-are-Leaving-Country/dp/9748299201" target="_blank" rel="noopener">The Gods are Leaving the Country</a> (2006), both written by art historians, document the stolen artefacts, and they catalogue what Nepal has lost in past decades. Many of the pieces have been traced to western museums and collectors.Whether or not to replace the originals with replicas, and where the originals should be housed if they are returned from museums and art collectors abroad, are hotly debated subjects. Some temples in Kathmandu now have replicas, and original deities are protected by iron grills, or are bolted to walls.Nepal is not the only country that is putting pressure on western museums to return antiquities. Greece and the British museum are haggling over the Parthenon Marbles stolen by Lord Eglin in 1806.The British Museum is also under pressure to return the stolen Benin bronzes from Nigeria, but is saying that the artifacts are too “fragile and delicate” to travel.<h2>A museum of copies</h2><figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101136/636b752e9c7e80680e0623d7jpeg.jpg" alt="" width="1500" height="1382"><figcaption> </figcaption></figure>Bhaktapur architect <a href="https://www.nepalitimes.com/banner/learning-from-nepals-past-to-rebuild-its-future/" target="_blank" rel="noopener">Rabindra Puri</a> has come up with another way of documenting Nepal’s stolen deities. As part of his Mission Panauti Project, he is working on the Museum of Stolen Arts, set to open in 2022 <a href="https://www.nepalitimes.com/banner/ancient-panautis-french-connection/" target="_blank" rel="noopener">in this town that has lost many of its religious objects</a>.The museum will initially have 50 stone replicas of sacred statuary that have been trafficked abroad. So far, artisans have hewn 36 of them.“All the replicas in our display are of stolen idols that are Nepal’s property and we have clear evidence of this. We need to raise awareness of the theft. It is public pressure and not the lengthy government process that will help us retrieve our heritage,”Puri says. Puri hopes that the museum will raise awareness among Nepalis and build pressure on western museums and auction houses to return statuary to Nepal.While appreciative of the effort, KVPT’s Rohit Ranjitkar is not entirely convinced that a museum of replicas will help in the struggle for repatriation. He says: “It is easy to copy them, but there is little chance that international museums will agree to repatriate our deities. Also, even if they are returned, how will we preserve them in their original location?”If the security of returned statuary cannot be guaranteed in their original locations, returned deities will find themselves in Nepali museums. Ranjitkar sees little value in this.

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Replicating Nepal’s stolen gods

https://www.youtube.com/watch?v=cI1CkRG7MxU“Had I not become a woodcarver, I don’t know what I would be doing today,” says <a href="https://www.nepalitimes.com/featured-videos/out-with-the-old-in-with-the-new/" target="_blank" rel="noopener">Indra Prasad Shilpakar</a>. “I have never thought about it.”Indra Prasad, 38, cannot see himself in any profession besides wood carving, despite having a degree in fine arts and a masters in contemporary sculpture from Tribhuvan University.Not only is wood carving a passion for Shilpakar, his family has been into the craft since the 6th century, and their surname literally translates as ‘woodworker’.Indra Prasad, like his father Indra Kaji, started playing with wood when he was just 12. By the age of 17 he had already learned the basics of carving from his father.“I grew up seeing my father’s woodwork and his dedication to keeping our traditional Newa craft alive. It inspired me to follow in the footsteps of my ancestors and continue what the Shilpakars have always been known for,” he adds.Both Indras have built and restored windows, doors and struts of temples and falcha resting places, and crafted replicas of old masterpieces in Bhaktapur and Patan Darbar Squares. All their work is purely handmade and reflects traditional art, mythology and symbolism. <figure><img width="1500" height="1000" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108151124/636a66879c7e80680e05998cjpeg.jpg" alt=""/><figcaption>Photos : SHRILUNA SHRESTHA</figcaption></figure> It takes 15-20 days to complete a skeleton of the work. They draw the figures with pencil, and carve by hand using only a few modern implements: electric saw, plane and drill.“We do not use modern machines for production because it depletes the quality. Doing it manually may consume time, but it is much more satisfying,” says Indra Kaji.Adds Indra Prasad, “Wood carving comes only to those who have patience and passion to create, learn and bring art to life. Those who see it as a business do not go a long way.”Indra Prasad has carved 32 Newa masterpieces in the past 18 years, mostly sculptures and traditional windows. He held his first solo exhibition at the <a style="background-color: #ffffff; letter-spacing: 0.15px;" href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/taragaon-museum-boudha,1609">Taragaon Museum</a> earlier this year, and plans another one in Germany next year. It will include carved deities and spirits, dragons and Tantric struts, based on themes of fertility, wisdom, compassion, meditation and music. <img width="1500" height="1000" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108151124/636a668a9c7e80680e05998djpeg.jpg" alt=""> For both father and son, wood carving means more than using a chisel and designing. It is a detail-oriented process that requires an understanding of traditions, norms and values.“There are some rules for carving the designs onto wood. We cannot just randomly chisel away — every object or creature seen in the toran has its precise significance that cannot be changed. That is why understanding the meaning is highly important,” says Indra Kaji.Both father and son want traditional Newa wood carving taught as a discipline in universities in order to preserve its values and techniques for the future. Otherwise, the father and son may be the last generations of master carvers in <a href="https://www.nepalitimes.com/banner/clash-of-cultures-in-bhaktapur/">Bhaktapur</a>.“The young generation today is more drawn towards technology and machines. They are in a hurry,” says Indra Prasad. “I cannot guarantee my 9-month son or 5-year-old daughter will be woodcarvers, but I am hopeful they will have new avenues to preserve and promote what my family has been doing for so long.”Read also: <a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/?p=37782&amp;preview_nonce=9d7ef77938&amp;preview=true" target="_blank" rel="noopener">Coming out of the woodwork</a>, Kunda Dixit

Crafting a heritage

The monsoon has got bad press because Nepal’s tourism operators actively told visitors to avoid <a href="https://nepalitimes.com/opinion/managing-the-monsoon?%2F">the rainy season</a>. It is time to change that. The reason can be found right here in the vast alpine meadows of Central Nepal where this time of year you can walk on velvet grass of pastures abloom with delicate pink, red and yellow flowers as the mist rolls up the valley. There is no sound except the hum of bumble bees. &nbsp;&nbsp; There are dozens of places across high Nepal called Chaurikharka, which means yak pasture. But this particular Chaurikharka in Rukum East located at an altitude of 4,000m stands out for its serene beauty, rustic charm and bucolic setting. There is just the occasional chime of <a href="https://nepalitimes.com/here-now/when-yaks-go-so-does-culture">yak bells</a> in the distance, and the sharp whistle of herders corralling sheep. &nbsp;&nbsp; The grass shoots are so fragile that one hesitates to step on them, the rounded ridges appear and quickly vanish in waves of mist. With the<a href="https://nepalitimes.com/here-now/before-the-next-monsoon"> arrival of monsoon</a>, these meadows are a soothing shade of green dotted with millions of <a href="https://nepalitimes.com/review/the-anatomy-of-a-flower?%2F=">multi-coloured flowers</a>. Until very recently, it took a week or so to hike up to places like Chaurikharka, but with the expansion of the road network even to these far-flung mountains in the lap of Dhaulagiri, they are much more accessible. It is just a three-hour uphill from the Mid-Hill Highway on the border between Baglung and Rukum East.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250802130828_a0b06b494d751b2144ffbbf10894ea64b29e8aed844bc8c66171783abfaf4e16.jpg" data-media-id="editor_4" data-image-id="20250802130828_a0b06b494d751b2144ffbbf10894ea64b29e8aed844bc8c66171783abfaf4e16" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Visit Nepal in the monsoon"> </figure>  Purists would say that such easy access devalues the sanctity of these remote high meadows, but it also means more people will be moved to treasure the experience, appreciate <a href="https://nepalitimes.com/banner/natures-fragile-gift-to-nepal">the value of nature </a>so they can take steps to protect it.&nbsp; To be sure, the <a href="https://nepalitimes.com/here-now/deadly-monsoon-in-nepal-turns-deadlier">monsoon season can be challenging for road travel</a>. The roads are rough even at the best of times, and in the monsoon they become muddy and treacherous, often blocked by<a href="https://nepalitimes.com/news/monsoon-deluge-in-nepal"> landslides</a>. But that could be precisely the kind of adventure that the more intrepid visitors crave. Improved road connectivity has already made Chaurikharka and places like Badimallika &nbsp;and other sacred lakes in the mountains of western Nepal popular with domestic tourists. What is driving this traffic is the urge to go to exotic new places and share videos and selfies on social media. Several of Nepal’s travel vloggers have visited Chaurikharka and popularised the place, enticing followers on TikTok or YouTube to retrace their footsteps. But even as they become more popular, these fragile and once-remote places should be protected from over-tourism.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250731110736_f97110b7cdc3e7f80d5877690948fc9f4c95a09c583deb23b07355491e6c5446.jpg" data-media-id="editor_8" data-image-id="20250731110736_f97110b7cdc3e7f80d5877690948fc9f4c95a09c583deb23b07355491e6c5446" data-rendition-name="original" width="1083" height="699" loading="lazy" alt="Visit Nepal in the monsoon NT"> </figure>  <h2>INCREASING FOOTFALL</h2> Chaurikharka is located in Bhume Rural Municipality of East Rukum, near the scenic valley of Dhorpatan in Baglung district. Even in the <a href="https://nepalitimes.com/banner/monsoon-culture">middle of the monsoon</a>, there is a steady stream of Nepali hikers trooping to these high pastures – especially during festival days like Saune Sankranti which this year was on 17 July and actually marks the auspicious beginning of the monsoon here. “This year the rains have not been as heavy and there have been some clear mornings when we could see everything from Dhaulagiri to Machapuchre,” says Khageswar Bhandari, who trekked up here from the road. “The flowers, the greenery and the snowy mountain views make this an incredibly unique place.”&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250802130824_1b9e26f2e9853fdfe69154bb42a7c9ea6da4bf4940efc1da99b304dcfbd7d3d9.jpg" data-media-id="editor_10" data-image-id="20250802130824_1b9e26f2e9853fdfe69154bb42a7c9ea6da4bf4940efc1da99b304dcfbd7d3d9" data-rendition-name="original" width="2048" height="1152" loading="lazy" alt="Visit Nepal in the monsoon"> </figure>  Chaurikharka is worthwhile to get to in any season, but it has a different charm during the monsoon. Word has spread and because it is now easy to get to from Baglung or even Pokhara, people have been flocking here.&nbsp; “Holidays and Saturdays see the largest crowds, with up to 500 visitors every day,” says ward chair Mankaji Pun of Bhume.&nbsp; There was a time not too long ago when local herders brought sheep, goats, cows, buffaloes, horses, and mules to graze here during the monsoon. Although there are still livestock around, animals have been replaced by visitors taking selfies. Read also: <a href="https://nepalitimes.com/here-now/the-monsoon-and-nature-s-arithmetic">The monsoon, and nature’s arithmetic</a>, Tom Robertson Ward Chair Pun says infrastructure development is his main priority. A foot trail to Chaurikharka was built last year by the Tourism Division Office in Kohalpur, but access via the Raniwas-Koipa road section still remains challenging.&nbsp; “If we get more budget, we can improve the road and facilities to make Chaurikharka the main tourist attraction of this region,” says Bhume Municipality Chair Hom Prakash Shrestha. “After that, we hope to promote Chaurikharka as a top tourist spot.”&nbsp; Economic activity is also picking up with the arrival of visitors, but there seems to be a need to manage the makeshift sheds made of corrugated sheets that spoil the beauty of the place. Tea shops and lodges are also available but facilities are basic. Kuldeep Neupane took a three-day trip from Ghorahi in Dang to visit Chaurikharka recently, and says: “This is an ideal trip to make a quick getaway and let nature recharge your mind and body. And it is much more fun with a tent, to watch the sunrise over the Himalaya or the mist blowing in.”

Visit Nepal in the monsoon

Two weeks ago, Prime Minister KP Sharma Oli announced jubilantly on social media that Nepal had achieved a historic annual growth of 81.8% in exports. He was right. Nepal’s trade did take a great leap forward compared to last year. But the dramatic rise was mainly due to processed soya bean oil.&nbsp; However, Nepal does not produce the edible oil it exports. In fact, the soya and palm oil that make up 44% of total exports are imported from Southeast Asia and South America, and simply re-exported, mostly to India.&nbsp; Under the SAFTA (South Asian Free Trade Area) Agreement, Nepal can export products to India duty-free if it has at least 30% value-added. Nepal’s traders have taken advantage of SAFTA even though the edible oils they export do not reach that value addition threshold. “The 30% value addition requirement is often only on paper,” says former commerce secretary Purushottam Ojha. “It is clear that simply packaging edible oils in Nepal does not fulfil the terms of the trade agreement.” Prime Minister Oli is aware of this, and even called Nepal’s export figures “fake” at an earlier event. The government is relying on other iffy figures to suggest that Nepal’s economy is strong and getting stronger. For example, the value of imports rose by 13.25% in 2024-25 compared to the previous fiscal year.&nbsp; Some of it was due to a jump in electric vehicle imports worth Rs 31.76 billion, but mostly it was because more wholesale soya oil was imported to be re-packaged and sold in India. The very fact that the government boasts about increased imports is an indication of how much it relies on taxing them for revenue. Touting such trade figures cannot be the basis to claim an economic rebound.&nbsp; “A jump in the value of imports can be interpreted as an increase in purchasing power, but it is not evidence of a stronger economy,” says economist Keshav Acharya. “Even though imports have increased, Nepal's domestic production and productive capacity have not improved.” Nepal Rastra Bank's semi-annual economic activity study report shows that industrial production was down in the first six months of the last fiscal year. This despite an increase in the number of new industries registered and investment commitments. Out of the Rs70.2 billion proposed foreign investment, Nepal received only Rs17.9 billion last year.&nbsp; Meanwhile, the rate of capital formation was limited to 24% last year, which is lower than the year before, suggesting that new investment, job creation and economic expansion all declined. If domestic production does not improve in relation to this year’s inflated trade figures, the outflow will put pressure on foreign exchange reserves like it did three years ago. At that time, Nepal borrowed from the IMF under its Extended Credit Facility Program to kickstart the economy.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025080710084_2cdaaa5795828c4a7de93a0604ba884ef0a8b8f24cccd939f6c24e279ab6058f.jpg" data-media-id="editor_0" data-image-id="2025080710084_2cdaaa5795828c4a7de93a0604ba884ef0a8b8f24cccd939f6c24e279ab6058f" data-rendition-name="original" width="1633" height="723" loading="lazy" alt="Nepal's bubble economy NT"> <figcaption>Source: NEPAL RASTRA BANK</figcaption> </figure>  The macroeconomy is on firm footing with foreign exchange reserves at a comfortable Rs2,520 billion in May, up 23% from last year. This was largely due to remittances, and partly due to a falling NPR exchange rate. Real estate transactions and the stock market index have also been climbing as a result of government policies to revive the sector.&nbsp; However, former executive director of Nepal Rastra Bank Nar Bahadur Thapa cautions: “This is not organic growth, it is the result of deliberate policy decisions to relax rules on real estate and stock markets transactions.” In reality, the sharp rise in land prices have increased the cost of production, and excessive monetisation of the real estate has become the main source of Nepal’s economic woes. The central bank has announced a slew of new policies, shifting the terms of loan repayment for industrialists and entrepreneurs, reducing interest rates, and injecting more working capital — all designed to inject adrenaline into the real estate and stock market sectors.&nbsp; When he was governor, Mahaprasad Adhikari made several financial reforms during the latter half of his tenure to stimulate the economy, including tightening credit flow.&nbsp; By the last fiscal year, additional financial reforms had resulted in a credit expansion rate of around 8%. As the pace of credit expansion slows, real estate prices have started to fall. This is actually beneficial to the economy, because it lays the foundation for improvements in land-related entrepreneurship, production, and the construction sector. Just because real estate and the stock market transactions increase, it does not indicate an economic turnaround — especially when manufacturing and productive sector continues to languish.&nbsp; “It is foolish to believe that real estate and the stock market have magically revived our economy. Agriculture employs more than half of the population, but it is in decline. Investment in the productive sector has not increased, and job creation has not increased.” Two years ago, Nepal’s industrialists, business leaders, and political leadership predicted a recession amidst a sluggish business, declining market demand, large-scale job loss, and a shrinking real estate and share market.&nbsp; Still, the economy grew by 3.36% in fiscal year 2023/24. In fact, Nepal’s economy has grown nominally over the last two decades even when all sectors of the economy are in decline.&nbsp; Says Keshav Acharya: “The growth in trade, real estate, and the stock market are bubbles. The real economy remains stagnant.”

Nepal’s bubble economy

The final investigation report on the crash of a Saurya Airlines jet on 24 July 2024 at Kathmandu airport has revealed flaws in the carrier’s technical operation procedures, poor monitoring by the Civil Aviation Authority of Nepal (CAAN) and gaps in the airport’s emergency response. Eighteen people including a child were killed, and only the captain survived as the plane plunged seconds after takeoff, crashing within the airport perimeter. This was the latest in a series of aircraft accidents in previous years, and further tarnished Nepal’s already poor aviation safety record and contributed to the country being retained in the EU’s air safety list. &nbsp;&nbsp;&nbsp; The circumstances in the Saurya crash were different from the Yeti Airlines crash in Pokhara in January 2022 that killed all 72 on board, and two Tara Air crashes in February 2016 and May 2022 on approach to Jomsom that together claimed 45 lives. However, all four tragedies were a result of negligence of carriers and crew, failure to follow procedures, regulatory slackness, and overconfidence. The Saurya crash, especially, was a glaring example of how an ailing airline broke its own rules to allow passengers, including non-employees, a joy ride to Pokhara on a maintenance ferry flight. CRASH REPORT The Final Investigation Report prepared by the Aircraft Accident Investigation Commission and released on the first anniversary of the crash last week carried a long list of rules that were ignored or broken, and of regulatory failure. The first mistake was to cram spares, tools and inflammable chemicals needed for the aircraft’s C-Check in Pokhara into the cargo hold flouting its own ground handling procedures.&nbsp; There was no check-in of passengers, some of whom were not even employees – even though regulations say only flight and maintenance crew should be on board a maintenance positioning flight. Many brought their own luggage into the plane and stored it unsecured in the cabin. There was no flight attendant to give a safety briefing to passengers. The load and trim charts given to the flight crew were rough estimates, and the total takeoff weight of the plane was 18,300kg plus or minus 200 kg. That would still have been all right, but there was a glaring mistake in the speedchart Saurya pilots were using to calculate the minimum takeoff speed (known as VR), and it had been wrong ever since the 21-year-old aircraft entered service with the airline in 2017. FAULTY DATA&nbsp; The Commission probed Flight Data Recorder inputs from previous takeoffs of the Canadian-built CRJ200-LR in 2023-2024 and found that the undetected error in the speedchart had caused the plane to pitch up at an abnormal rotation rate at least 18 times on previous takeoffs.&nbsp; Any rotation rate more than 3°/sec is regarded as unusual. But on at least two occasions, this aircraft with tail number 9N-AME had rotation rates of 5.8°/sec and 5.5°/sec, the second one was when the pilot who survived was flying in March 2024.&nbsp; On this particular day, the plane’s rotation rate was 6.5°/sec, causing it to go into a deep stall soon after takeoff, the Commission report said. Essentially, the plane was not flying fast enough down the runway to take off safely.&nbsp; It is not yet clear whether excess weight, unsecured luggage, wrong centre of gravity were also factors, but relying on a faulty speedchart for the given takeoff weight, the captain flying pulled back on the yoke before the plane had reached takeoff speed and at a pitch angle that was too steep. The investigation report says the plane then went into a deep stall and started banking right with the stick shaking. At this point, the flight officer on the right hand seat is heard on the cockpit voice recorder saying: “Whoa, whoa, whoa. Sir, Sir, Sir…” It then banked left before the pilot flying turned the plane sharply to the right again in an evasive action to avoid the parking aprons of the international and domestic terminals. Had he not done so, there would have been a disaster of a much greater magnitude at Kathmandu airport that day. The plane scraped the runway with its right wingtip, collided with a container having helicopter spare parts, and plunged into a gully east of the runway, exploding in a fireball. The investigation also noted that the impact forces seemed to be survivable for some occupants. The fire trucks took unnecessarily long to reach the site even though it was inside the airport perimeter. The absence of an ICAO-standard runway strip, inadequate rescue drills, lack of training, and a blocked emergency service gate leading to the crash site were cited as other factors. &nbsp;&nbsp; <h2>Timestamp of a Disaster</h2>  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250731110724_39cdd04693994ce6e55a5b302905c0fa4884fe85bed21ff0779bb1439f3a5725.jpg" data-media-id="editor_0" data-image-id="20250731110724_39cdd04693994ce6e55a5b302905c0fa4884fe85bed21ff0779bb1439f3a5725" data-rendition-name="original" width="778" height="826" loading="lazy" alt="Flouting rules caused Saurya tragedy NT"> </figure>  11:10:34 - The Saurya Airlines CRJ200 on the takeoff roll from runway 02. It had a takeoff weight of about 18,300kg, but the pilot’s speedcard had a previously undetected mistake about the minimum takeoff speed. 11:10:55 -The plane with tail number 9N-AME goes into deep stall soon after takeoff because it does not have enough speed to lift its weight. The plane also has an abnormally steep nose-up attitude.&nbsp; 11:11:03 - Without enough speed to generate lift, the plane banks right, then left and right again in CCTV photos taken from the domestic apron (below). If it had not banked right, it could have hit the aprons and terminal buildings. Seen parked is Saurya’s other CRJ200 with tail number 9N-ANM.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250731110732_608132f7225c649125cca2691dd6a6bf930984c5b359e888d7ad9e5eacce3afd.jpg" data-media-id="editor_1" data-image-id="20250731110732_608132f7225c649125cca2691dd6a6bf930984c5b359e888d7ad9e5eacce3afd" data-rendition-name="original" width="770" height="555" loading="lazy" alt="Flouting rules caused Saurya tragedy NT"> </figure>  11:11:08 - The plane scrapes the runway with its right wingtip, and falls into the gully. The captain is thrown off the left side of the cockpit and survives. 11:11:15: Plane explodes in a fireball inside the airport perimeter. Firefighters take time to reach the site because of lack of access road and a blocked gate. Read the full investigation report <a href="https://www.tourism.gov.np/files/9N-AME%20AIC%20Final%20Report.pdf">here</a>.

Flouting rules caused Saurya tragedy

American artist Peter Makela was in Nepal in 2022 on a Fulbright scholarship when he experienced the Matya festival in Patan in which devotees made the rounds of the city’s shrines.&nbsp;
He joined the procession, walking through 2,600 stupa and 140 bahal of the town. That immersion left a lasting impression.
As part of Gallery Mcube’s international residency program in Patan, he put his inspiration to canvas in the exhibition Yala Yatra: Walking, Working, Worshipping. The exhibition also coincides with this month’s Matya festival.&nbsp;
Makela has visited Nepal often in the past 11 years but he mostly stayed in and spent his time around Boudha. “This time I stayed in Patan, put the sites I wanted to visit on my map, and off I went,” he tells us. “Each of my artwork is inspired by the stupas and shrines in Patan that I visited.”
The stupa and Ganesh are recurring motifs in his watercolours, and the elephant gods are located in chaityas — reflecting the interplay and blending of the Hindu and Buddhist faiths in Kathmandu Valley.&nbsp;
The stupas and Ganesh are painted in vivid red, yellow, blue and green against abstract backgrounds meant to represent the sky.
“I use the sky as a backdrop because the sky has no border,” says Makela. “The four colours represent the four elements, the different Buddha families and also lights bouncing off of a rainbow.”
The use of just four colours for all the artwork stands out, and combined with the absence of heavy canvases, frames or stands render Makela’s art striking in its simplicity.&nbsp;
The Ganesh is always holding something and the art also portrays the elephant god’s sacred vehicle, the mouse.
While his vibrant stupas and Ganesh reflect the tangibility of Patan’s tradition and heritage, it is as if the backdrops with their shades of grey and red and yellow capture the soul of the city’s shrines.
“If you look closely, there is a sense of form and formlessness at the same time,” he says.&nbsp;
Makela walked 108 kora around the shrines during his exploration of the town, and in the process developed a spiritual connection with Patan’s heritage and traditions.&nbsp;
The exhibition connects with visitors on a deeper, more spiritual, level as well. And with it, they feel a sense of pride as well as the need to urgently preserve Patan’s heritage for future generations.
“Peter’s inclination and approach towards Nepali art and culture is fascinating, and it reflects in his work,” says Mcube curator Manish Lal Shrestha, whose international artist residency program promotes Nepal’s cultural heritage. &nbsp;&nbsp;
Yala Yatra: Walking, Working, Worshipping
1-5 August&nbsp;
10AM-7PM
Gallery Mcube, Patan

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Walking, working, worshipping in Patan