Nepali Times: How did this transition from banking to politics happen so suddenly? Anil Shah: I worked in the banking sector for 31 years, 17 of them as a CEO. The primary reason I left is because I have always been vocal about young people needing a chance at leadership. And it did not seem fair to keep expressing that opinion while I held on to my own position. I then wanted to move on to something new, and set up Lead Nepal Inc, the objective of which was to craft leaders. For a year, I shared my three-decade leadership, management, motivation and team-building experience with political parties, law enforcement and military, private organisations as well as students. Around that time, my daughter graduated in New York and we planned to go to Boston to visit friends. We were crammed in an Uber in New York on the way to the train station and during the ride, the driver looked at the rear view mirror and asked if I was Anil Shah. He turned out to be Nepali who eventually asked why someone like me had not entered politics. I replied that I was not interested. He was emphatic that people like me needed to bein government.&nbsp; I told him that politics was not for me, but he made me a promise — if I were to get into politics, he would donate $1,000 to me and he had 100 other friends who were willing to donate the same amount. The gentleman’s name is Mangal Shrestha, and I thanked him when we got off at the train station. I thought his heart was in the right place, but I did not take him seriously. Read also: <a href="https://www.nepalitimes.com/banner/arnico-panday-the-political-scientist">Arnico Panday, the political scientist</a> The day after I joined the Rastriya Swatantra Party (RSP) I got a message on Facebook (from Mangal Shrestha) asking where he could send the money he had promised me. At that moment, his hope, and the hopes and aspirations of Nepalis like him, touched me deeply. In Boston, I met Nepali students at Harvard, MIT, and Tufts. One of the students said they were tired of me complaining for 15 years about how our politics was a dirty pond that no one was willing to clean up. I needed to either stop talking about it or wade into the dirty pond myself and try to clean it up, he said. Should you decide to get into politics, we are with you. It was a culmination of various conversations like this that touched me and made me question why I could not take this step. Then came the question of where to go. And I think RSP was a good fit for me, because they are new to politics just like I was, and their vision and thought process sort of matched with mine. I thought if I was going to make a jump into this pond, these are the people I want to do it with. I was reminded by Mangal Shrestha him of the Nepali spirit of honesty and integrity. He could have forgotten about his promise, but he reached out to me. This told me two things: the first was the hope that not only I, but the RSP as a whole had given people like him. The interaction also showed me was the state of despondency people feel about what is happening to our country, the hopelessness that a Nepali Uber driver in Manhattan feels about returning. I think it reflected the thoughts of a lot of the youth regarding the visions of the RSP and its aspirations towards the people.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2023080608080_02e108f695e02a5472ba5cf2a3ac19ad9b0a15c504b31021e9d3fdc0d3694e7b.jpg" data-media-id="editor_1" data-image-id="2023080608080_02e108f695e02a5472ba5cf2a3ac19ad9b0a15c504b31021e9d3fdc0d3694e7b" data-rendition-name="original" width="2000" height="1456" loading="lazy" alt="Anil Shah RSP"> <figcaption>Photo: GOPEN RAI</figcaption> </figure>  Did you have to think a lot about whether it would be the RSP or maybe RPP or Bibeksheel? Definitely. Coming back and joining the RSP was not my first thought. My knee-jerk reaction would have been to join the Nepali Congress because my family has historically been closer to NC. <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/the-rana-reign-a-recap-of-history,3751">Subarna Shamsher Rana</a> is my wife’s grandfather. But it was not a question of joining a party for a position, or to use family legacy. I wanted to join politics to try and actually do something. The RSP has made you the head of its training department. Do politicians need training? Politicians do think that they should be the ones giving training, not getting it. That is why our country is where it is right now. However, our party does not have politicians, it has ordinary citizens like myself who want to do something for the nation. And the best thing is that a lot of RSP members— parliamentarians and Central Working Committee members alike— reached out to me to say that they were willing and glad to be trained because they wanted to learn to become better leaders. That kind of positive attitude is a start. A few days ago our party chair Rabi Lamichhane, parliamentarians, CWC members and other leadership sat down and discussed our training visions for leadership. We looked at our strengths and weaknesses and how we can individually contribute to the party. All of this makes me believe that I am in the right place. What kind of training do leaders need? Training is not one-size-fits-all. For the parliamentary party and the Central Committee, it is a training of synergy, team building, teamwork, and confidence building, all so that we can work together as a cohesive unit. At the end of the day, even though we are a political party, we are a startup. So when we go to the provinces, the training focuses on introducing the party and our Constitution, our vision, our culture. When we go to people who want to stand for elections, at any of the three levels, we explain what leadership is, and what one is expected to do when the party is in leadership, what our role will be when we are the opposition. We train people about how to express criticism that actually adds value and moves elected leaders in the right direction. Meanwhile, we have our ‘Mission Chaurasi’, because we are clear that we are going to run the country after the next elections in 2084 (2028). This is because we cannot be trying to figure out what to do and how to lead once we are already elected and waste another two years in the process. That is why we are taking these years to prepare. The question we always ask ourselves is not what to do or how to do it, it is why we are here. We are not like other cadre-based political parties, and we cannot forget why we exist. We are still figuring that out. I tell people that I have not joined politics, I have joined people-tics. Nepali politics has been plagued by leg-pulling, an unwillingness to compromise, and infighting. Can they be trained to change that? You cannot teach old dogs new tricks. But the RSP is still a puppy, so what our entire team learns now is going to be really crucial and we want to learn the right values and skills. This is a country of countless leaders, but the RSP wants to create value-based leadership from the roots at all three levels of government, which entails humble, value-based leadership. I start off by saying that if service is beneath you, leadership is beyond you. In Nepal, I find once you become a leader, service becomes something that is seen as shameful. But leadership is about service. It is not about being in charge, it is about being responsible for the people in our charge.&nbsp; What is the difference between training bankers and politicians? The core of political leadership is about the people you surround yourself with. And what I like about our chair Rabi Lamichhane is that he welcomed people like myself, <a href="https://www.nepalitimes.com/here-now/nepal-needs-to-rebrand-itself">Dr Swarnim Wagle</a>, Shishir Khanal, Manish Jha and Dr Toshima Karki. If he had just wanted to rule, he would never bring people like us into the party, he would always have people who look up to him and surround himself with yes men. I have been in corporate meetings, and meetings of other political parties, and there is always free dialogue and conversation within the RSP. Our weakness is perhaps a lack of structure but there is no lack of open dialogue and discussion. You said you were inspired by the diaspora, but there are more Nepalis leaving, many of them for good. What do you say to them? I used to always think and tell <a href="https://www.nepalitimes.com/here-now/nepali-family-spread-across-kuwait-cyprus-uae">people who went overseas</a> to come back, make a life in Nepal, and do something for the country. When I once said this to a labour migrant, he replied that while I had come from a well-to-do family, he did not have the same privilege of coming back home to stay off work and spend time with family without there being consequences. I realised that to many people, spending time with their mother might mean letting her go hungry. That is when I decided that I was not going to tell the youth to come back because not everybody has what I have. What I am going to tell them is not to forget Nepal. The country has what it has and the economy is sustained because of money sent by the people who pour their sweat in foreign lands. Nepal is not just its land and its rivers, it is also its people, wherever they are.&nbsp; Read also:&nbsp; <a href="https://www.nepalitimes.com/banner/migration-not-a-wish-but-necessity-for-nepalis">Migration not a wish, but necessity for Nepalis</a>, Shristi Karki <a href="https://www.nepalitimes.com/here-now/making-overseas-migration-better">Making overseas migration better</a>, Kunda Dixit Are you going to stand in elections yourself, maybe from Bhirkot where your ancestors are from?&nbsp; Anil Shah: One should never say no when it comes to politics, because you never know. If the party needs me and tells me I must stand, why not? I will not back down and say no. But if I were to say right now I'm going to stand from Kathmandu or Bhirkot or Janakpur, then I would have to devote half of my time to developing my constituency. If I were to focus on that while also building the leadership within the RSP— which has been my dream— I will fail in both of those undertakings. Right now I am clear within the party that my job is not to win elections and be given a post, my job is to ensure results in all three levels of government in the next election.&nbsp; Should I go to Bhirkot, I am confident that I can develop it. But developing Bhirkot will not develop Nepal. I have embarked on a journey where I want to build the kind of leadership to develop all of Nepal. The interactions and energy from Kosi and Lumbini have been phenomenal so far. Additionally, there is sometimes a misconception that the RSP is a party of and for young people. That is not the case at all— we are a party of Nepalis where people of all ages, ethnicities, genders, and religions are welcome. The central leader in the RSP from Bhirkot is from the Muslim community and from my ward. There is already a leader there.&nbsp; A lot of Nepal’s ageing leadership is overly ambitious, egotistic and do not want to let go. Do you address that in your training? Absolutely. I call that god syndrome. This belief that rules do not apply to us because we are in politics. But whether it is traffic rules, or having to be in a queue, we impress upon the RSP leadership during training that we must follow them. &nbsp; Do you think Rabi Lamichhane has god syndrome? Everybody has an ego, including me. The question is if <a href="https://www.nepalitimes.com/here-now/after-balen-the-rabi-phenomenon">Rabi Lamichhane</a> can control it, and from my experience he can. Rabi Lamichhane is a brand now. He is looked at as the face of the RSP, as the tip of the spear of a lot of people’s aspirations. People could argue and comment on all of his speeches and public appearances, but he has to do that as the leader of a national party. There is a difference between being invisible and being humble. And whether it is in parliament or on the streets, he is humble but never invisible. He is a humble man—a god-fearing man—and he is someone I think I can follow as a leader. Read also: <a href="https://www.nepalitimes.com/banner/rabi-lamichhane-is-home-less">Rabi Lamichanne is Home-less</a>, Shristi Karki

original

674x448

610x380

500x500

400x266

400x240

400x203

301x200

1250x600

1084x550

"We are a political startup"

<figure><img width="1400" height="1050" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110811110/636a28a59c7e80680e045883jpeg.jpg" alt=""/><figcaption>Photo: SONIA AWALE</figcaption></figure>For someone who jet sets around the world, hobnobbing with governments and scientists to promote affordable and ecological toilets, Roshan Shrestha found out for himself just how difficult maintaining loos can be during a recent visit to his home in Nepal.The Seattle-based 55-year-old sanitation expert (pictured below) found that the septic tank at his family home below Swayambhu was overflowing. But he had no clue who to turn to, and <a href="https://www.nepalitimes.com/opinion/where-to-take-a-dump/" target="_blank" rel="noopener">how to get it emptied</a>. “I did not know where to go,” recalled Shrestha during a break at a Faecal Sludge Management Conference last week in Cape Town. “If it was so difficult for me, I can only imagine how hard it must be for the general public.”Read also: <a href="https://www.nepalitimes.com/banner/toilet-trained/" target="_blank" rel="noopener">Toilet trained</a>, Sonia Awale<a href="https://www.nepalitimes.com/opinion/where-to-take-a-dump/" target="_blank" rel="noopener">Where to take a dump</a>, Bhushan TuladharShrestha finally got in touch with a private service provider and got the problem fixed after a few days. With over 30 years of experience in improving sanitation, Shrestha was promoted last month as Deputy Director of the Urban Sanitation Markets at the <a href="https://www.gatesfoundation.org/" target="_blank" rel="noopener">Bill and Melinda Gates Foundation</a> (BMGF).Shrestha is a leading authority in the field, and involved in the BMGF’s <a href="https://www.gatesfoundation.org/What-We-Do/Global-Growth-and-Opportunity/Water-Sanitation-and-Hygiene/Reinvent-the-Toilet-Challenge-and-Expo" target="_blank" rel="noopener">Reinvent the Toilet Challenge</a> that has scientists around the world competing for the best design of a new generation of <a href="https://www.nepalitimes.com/banner/toilet-trained/" target="_blank" rel="noopener">toilets</a> that do not use water, are cheap to install and easy to operate.Shrestha has been recognised for promoting water and sanitation projects in Nepal with his new responsibility at the BMGF, a philanthropic arm of the founder of Microsoft.Says environmental expert Bhushan Tuladhar: “Roshan is passionate about sanitation, and does not treat it as just another job. He has great commitment and perseverance. His success is well deserved and it is only fitting that the foundation has recognised it.”Read also: <a href="https://www.nepalitimes.com/banner/getting-our-shit-together/" target="_blank" rel="noopener">Getting our shit together</a>, EditorialThe Gates Foundation’s Brian Abrogast said of Shrestha’s promotion: “Roshan Shrestha has been the best ambassador the foundation could ask for, exuding respect and compassion while generating admiration – and impressive results.”The BMGF’s toilet challenge has prompted top scientists from China, India and other parts of the world to come up with innovative new designs, from solar-powered smart toilets that generate hydrogen and electricity to sanitation systems that convert human waste into biological charcoal, fuel gas, minerals and clean water.Shrestha had humble beginnings in a public school in Kathmandu before getting an MSc from Tribhuvan University in 1988. He worked in a water analysis laboratory to test the water in the Bagmati River. And later founded <a href="http://enpho.org/" target="_blank" rel="noopener">Environment and Public Health Organisation</a> (ENPHO) that specialises in research and monitoring. Later, he got a PhD from a university in Austria in limnology, the study of inland water bodies. On his return, Shrestha successfully marketed the popular water purifier called Piyush.Shrestha went on to introduce Nepal’s first wetland system in Dhulikhel for small-scale wastewater treatment and reuse, and designed Nepal’s first faecal sludge treatment plant in Teku in 1998.“It was at this point that I realised that water quality would never improve without upgrading sanitation. At the root of water pollution is poorly managed sanitation,” said Shrestha, who then became involved in <a href="http://archive.nepalitimes.com/article/nation/dont-wait-for-melamchi-nepal,3765" target="_blank" rel="noopener">rainwater harvesting</a> and turned his residence into a model eco-home complete with urine diversion dry toilet.After a stint at UN HABITAT as a South Asia region technical adviser, he was convinced toilet technology had to be less water-intensive to improve sanitation in the developing countries. “We claim to have over 90% <a href="https://www.nepalitimes.com/banner/getting-our-shit-together/" target="_blank" rel="noopener">latrine coverage in Nepal</a> but most structures do not meet required standards, and that is why we need a new breakthrough in toilets,” said Shrestha.The Gates Foundation has invested heavily in developing new  technologies that can destroy pathogens on site through faecal sludge management.“If a vast country like India can clean up its act, why can’t Nepal? All we need is political will and proactive leadership committed to improving sanitation,” adds Shrestha, whose foundation is currently developing a new course on sanitation at Kathmandu University, and working with Nepal Bureau of Standards on a new <a href="http://archive.nepalitimes.com/news.php?id=15235#.XHfVCMAzaUk" target="_blank" rel="noopener">toilet</a> standard.Here in Cape Town at the global conference he helped put together,  Shrestha says his goal is still to go back to Nepal: “I plan to head home, but after we have developed an adaptable technology for safer sanitation in developing countries so we can promote it in Nepal as well.”

Sonia Awale

Toilet trained expert

<figure><img width="800" height="1101" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101128/636a216d9c7e80680e04173djpeg.jpg" alt=""/><figcaption>Cartoon: DIWAKAR CHETTRI</figcaption></figure>The ruling Nepal Communist Party, formed by the union of the former rebel Maoists and their erstwhile UML enemy, has squandered nine months of its five-year tenure.Prime Minister Oli has publicly blamed his own party for undermining the government. He said recently, “Our party’s leaders and cadre are silent when the government is being criticised.” That barb appeared to be aimed at his co-Chair and prime minister-in-waiting Pushpa Kamal Dahal and his former Maoist comrades, who neither support nor censure the government. It is as if Dahal is letting Oli sink his ship, patiently waiting for his turn at the helm in 2020. Analysts blame the NCP’s debacle largely on Prime Minister Oli for being out of touch with reality, and making wild and hollow promises. But the other reason is that the two constituent parties in the NCP still have not reconciled their widely different political cultures. Says a senior UML leader: “After the unification, we thought we could make the Maoists in our image. But we are now behaving like the Maoists used to.”Indeed, the NCP is now run by the two Chairs who rarely consult each other, or the rank and file. The UML’s tradition of close consultation among the senior leadership is gone, and its strong nationwide cadre network has not been replaced with a new party base.The NCP’s much-delayed Standing Committee meeting this week brought the UML-Maoist fissure into the open, with Oli facing much of the criticism.The meeting acknowledged the delay in truly uniting the two parties, and said it would take steps to correct that. The question is: will it narrow the distance between Capt Oli and his Co-pilot?

The ship of state

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