<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01229c7e80680e0a3614jpeg.jpg" alt="" width="1050" height="637"/><figcaption></figcaption></figure>Nepal Rashtra Bank’s (NRB) tightness on share collateral, signs of a lack of liquidity and the opening up of other investment avenues post-lockdown are some of the factors behind the share market’s sharp decline of late.On Sunday, <a href="http://www.nepalstock.com/" target="_blank" rel="noopener noreferrer">Nepal Stock Exchange (Nepse)</a> recorded the highest-ever fall in its history after the market dropped by 5.03% in just the first two hours of trading. A 40-minute long circuit break was imposed, as 60 companies saw their share values decline by 10%, and the Nepse index to 2782.52 points.A slight recovery was soon posted, but Nepse still fell by 3.7% from the previous day, losing 108.26 points from 2928.8 points to an end-of-day total of 2811.16 points. By day’s end, 31 companies lost up to 10% value on their shares.Despite the fall in the index, there were as many if not more people trading shares and the volume of transactions were unaffected, with 23 million 79 thousand shares of 223 companies clocking in Rs11.24 billion in turnover.The current dip in the share market is in sharp contrast to the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">boom during the lockdowns and prohibitory orders</a> when other investment sectors remained shut, allowing big and small investors to trade from home with the online trading system flourishing unabated.Bank interest rates also fell as the investment sector shrunk during the closures. As demand for credit in other sectors began to decline, banks also increased their investments in equity securities. As a result, the stock market traded at a record high with a turnover of Rs19.55 billion and Rs21.64 billion on 14 May and 15 July respectively.However, since then with the reopening of other sectors, the demand for bank loans has increased. There are indications that the lack of investment capital will be repeated. As such, banks are preparing to raise interest rates.The share market’s decline has been particularly concerning over the last week, falling from 3044 points to 2817 in five days. This has resulted in a loss of Rs1.5 trillion, down to Rs39.44 trillion on Sunday from last week’s Rs40.89 trillion.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01249c7e80680e0a3615jpeg.jpg" alt="" width="623" height="351"><figcaption></figcaption></figure>Sunday’s fallout also prompted the Capital Market Reform Struggle Committee, led by investor Ram Krishna Dhakal, to demand the resignation of NRB governor Maha Prasad Adhikari for activities that have negatively influenced the share market.The committee has put forward 15-point demands including the limit of Rs120 million on margin loans brought by the central bank through monitory policy to be scrapped, the cap on dividends distributed by microfinance companies to be removed and the provisioning be modified.As per the NRB’s new stricter monetary policy, banks and financial institutions are allowed to give a maximum loan of Rs40 million to an individual or institution on the security of shares. Similarly, an investor can take a loan of only Rs120 million by pledging shares.Read also: <a href="https://www.nepalitimes.com/latest/instability-to-cost-nepal-dear-in-2021/" target="_blank" rel="noopener noreferrer">Instability to cost Nepal dear in 2021</a>, Ramesh KumarThe NRB didn’t only tighten its monetary policy, but all subordinate banks were also placed under strict restrictions, effectively banning them from share trading.To be clear, the NRB’s austere policies have caused the market correction by dislodging the confidence of large and institutionalised share traders, says share market analyst Mukti Aryal.The <a href="https://www.nepalitimes.com/here-now/insider-trading-taints-nepal-capital-market/" target="_blank" rel="noopener noreferrer">Sarbottam Cement share scandal</a>, in which Nepal Securities Board Chairperson Bhishma Raj Dhungana and Nepse CEO Chandra Singh Saud engaged in insider trading on IPOs, had recently dented confidence in the fledgling stock market.But the only way forward is for the NRB to examine its restrictive policies, adds Aryal: “The tightening of stock pledges is the chief reason for the market’s decline. Pledging one’s own assets as securities for trading should not be restricted.”However, instead of agitating against the regulatory bodies, investors themselves must adopt careful share-trading practices, says a share broker, adding that it is natural for the market to fall after being propped up by companies that very recently had bad portfolios.“If investors had invested in companies with solid portfolios, none of this would be happening,” he says. “Instead of investing smartly in profitable companies, investors hedged their bets on hydropower projects, development banks and finance, following the market rumours rather than prudent investment.”Translated by Kaustubh Dhital from the <a href="https://www.himalkhabar.com/news/125732?fbclid=IwAR1n22ltLRWRA6Yi8Lg23aGzl8ZLzgKvIlBx_UTy1R_3m9GZlgogZ9Y4F80" target="_blank" rel="noopener noreferrer">Nepali language original</a> in Himal Khabar.

original

674x448

610x380

500x500

400x266

400x240

400x203

301x200

Inside Nepal’s biggest stock market tumble

<img width="1508" height="900" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb39c7e80680e0a0b49jpeg.jpg" alt=""/>The heads of the Nepal Stock Exchange (Nepse) and Securities Board of Nepal (SEBON) as well brokers and industrialists have been found to have profited from insider training and conflict of interest, eroding the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">public’s trust in the country’s stock market</a>.   Documents show that they were engaged in ‘front running’ in contravention of existing rules governing the role of regulators and brokers in stock valuation and transactions. An investigation by <a href="https://www.himalkhabar.com/news/125318">Himal Khabar</a> this week found Nepse CEO Chandra Singh Saud and SEBON Chair Bhishma Raj Dhungana bought shares for family members in Sarbottam Cement at far lower prices just before its Initial Public offering (IPO). The board of directors of Sarbottam Cement decided to sell 6 million shares in the company through a book building process. The shares were valued at Rs750 per unit to raise Rs4.65 billion, of which only 12.9% were included in the initial public offering.  However, many of the shares were sold pre-IPO for less than Rs250 per unit even before the public offering, and others are believed to have been given for free as ‘presents’ to important people. Benefiting were close family members of SEBON’s Chair Dhungana, Nepse CEO Saud, as well as Global IME Capital which was handling Sarbottam’s IPO. <img width="2284" height="1512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb69c7e80680e0a0b4ajpeg.jpg" alt="">Says share market expert Rabindra Bhattarai: “This is a clear case of an attempt by insiders to unethically influence the market price of a company offering premium shares.”Global IME Capital’s parent company Global IME Bank is headed by Chandra Dhakal, who is vice-chair of FNCCI and is also a member of SEBON. Dhakal’s brother has 30% share in an investment company that bought some of the shares. Chandra Dhakal therefore had a conflict of interest in being in a position to be the regulator in the sale of investment vehicles in a company that his family had invested in. Documents show that Saud and Dhungana also used their positions to leverage cheap purchases of the shares in the cement company, while Sarbottam benefited by getting permission to enter the share market, illegally influencing the regulators’ decision-making. In the eyes of the law, this is equivalent to corruption and considered a crime.  <img width="1028" height="718" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbba9c7e80680e0a0b4bjpeg.jpg" alt="">“For a CEO of the Stock Exchange or its employees to use information about an IPO to personally buy shares is a direct and serious conflict of interest,” explains capital market expert Mukti Aryal. “Buying shares in a company that is going to be traded on its own platform opens up the possibility of share price manipulation. In a case like this the SEBON official has to declare a conflict of interest and step down.”Front running is a form of insider trading where those with knowledge of a company’s share value use it to make a personal profit at the expense of the public. For example, it is ‘front running’ when a stockbroker receives customer orders to purchase a large stock in a company, but instead speculates the value of the shares and buys or sells off shares for themselves accordingly. Such actions are not just unethical, but can even be considered a financial crime. Nepal’s Securities Act 2007 Clause 91 codifies into law measures against front running, prohibiting SEBON staff from divulging and profiting off any inside information received by their position. Regulatory authorities are also not allowed to be in contact with company executives, founders and managers or exchange any benefits with them.  <img width="2288" height="482" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbd9c7e80680e0a0b4cjpeg.jpg" alt=""><a href="https://www.himalkhabar.com/news/125244">Nepse CEO Saud told Himal Khabar</a> he did nothing wrong, and admitted that he bought shares in Sarbottam at Rs250 per unit in the name of his wife, Sushila Kumari Bohara, but only after the cement company’s book building process had started. “It is only prohibited to buy and sell in the secondary market, there are no restrictions on buying shares in a company’s initial public offering,” Aryal told the magazine.However, Saud has been accused of purchasing the shares at a price lower than the company’s book-building, or share price evaluation.  <figure><img width="2000" height="1026" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbf9c7e80680e0a0b4djpeg.jpg" alt=""><figcaption>Nepse CEO Chandra Singh Saud.</figcaption></figure>Companies that are going public must disclose all operations to regulators to ensure market transparency, but in no way are regulator officials, investment executives, brokers, company employees and others with an inside track allowed to enrich themselves using the company’s open books. Similarly, the investigation showed that SEBON chair Bhisma Raj Dhungana had also bought 11,992 shares in the name of his US-based daughter, Rebika Dhungana, in Sarbottam Cement before its book building process had started. SEBON’s Code of Ethics bars the board’s members and chair and their families from engaging in any transaction from which they can financially benefit.“Yes, my daughter sent me money from the United States to buy the shares, and yes, they are her shares,” Dhungana admitted. “Just because I am the chair of SEBON does not mean the law bars my married daughter from buying shares from any company she wants.”Dhungana was formerly with Nepal Rastra Bank, and is believed to have been nominated for the four-year term in SEBON at the recommendation of President Bidya Devi Bhandari. <figure><img width="1604" height="860" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbc39c7e80680e0a0b4ejpeg.jpg" alt=""><figcaption>SEBON Chair Bhishma Raj Dhungana.</figcaption></figure><a href="https://www.himalkhabar.com/news/125258">An expert in share market regulations told Himal Khabar</a>: “This is a straightforward case of insider trading. There is no question about it.”Sarbottam Cement had signed an agreement with Global IME Capital to handle the IPO in March in the presence of SEBON officials, but the process has been delayed till later this month. Nepal’s manufacturing companies, especially in the construction and hydropower sector are currently riding a wave of market confidence. Another compnay, Shivam Cement, recently went public clocking a similarly strong stock market performance. The revelation of insider trading has been greeted by outrage on Nepal’s social media, and is likely to erode people’s growing trust in the stock exchange, with many commentators and financial analysts equating the secondary market with skulduggery, insider trading and outright theft.‘Are board members allowing suspicious companies to release shares under the temptation of illicit rewards?’ asked one social media post. Another went: ‘Is the share distribution process transparent?’ Yet another said: ‘Have finance bosses, chiefs and sales executives rigged the process to earn favourable shares for themselves?’ The share market had been anticipating a surge, riding a wave of investment interest of the Nepali public in the manufacturing and construction sectors. But the reports of insider trading confirm the public’s suspicions of hanky-panky, and are expected to dampen the stock market.  Moreover, moving forward, companies wishing to list their IPOs via book building will be cautious of possible behind-the-scenes dealings.The irregularity in Sarbottam Cement share offering is not the first of its kind, with the Securities Act 2007 violated previously.  In 2014, investors at Citizens Investment and Employees Provident Funds were caught exchanging investment with the Upper Tama Kosi Hydropower with shares for themselves in return. The regulations were subsequently overhauled and loopholes plugged.The Upper Tama Kosi and Sarbottam Cement cases are similar in the sense that they were both examples of graft, wherein two parties are believed to have exchanged confidential information for personal profit. Given the impunity that is rife in Nepal’s political and business spheres, the Sarbottam issue will further damage the reputation, trust and transparency of the share market, hurting an already moribund economy.Stock exchange legal expert Amrit Kharel is clear about the rules: “Three generations of the family members of a person with inside information about an initial public offering are barred from benefiting from any transaction, It is not just unethical, it is considered insider trading. And if any member of staff of SEBON is found to be violating this, they are liable to prosecution.”Links to Himal Khabar series on this subject:<a href="https://www.himalkhabar.com/news/125318">https://www.himalkhabar.com/news/125318</a><a href="https://www.himalkhabar.com/news/125244">https://www.himalkhabar.com/news/125244</a><a href="https://www.himalkhabar.com/news/125258">https://www.himalkhabar.com/news/125258</a>Translated by Kaustubh Dhital

1250x600

1084x550

Insider trading taints Nepal capital market

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

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;

Proud to wear DOLPO

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

insider-trading

Inside Nepal’s biggest stock market tumble

Insider trading taints Nepal capital market

Grand split in Nepal’s grand old party

Nepali artists at India Art Fair

Proud to wear DOLPO

Shaken, but not stirred