The September protests and worry about what is in store for Nepal in 2026 have added more uncertainty to a <a href="https://nepalitimes.com/here-now/nepal-needs-to-use-its-money-better">struggling economy</a>. Real estate transactions are stagnant, industries are operating below capacity because of declining domestic demand, the construction sector is slack, and investors are in wait-and-watch mode. In contrast, total bank deposits increased by Rs124 billion in the month before mid-October to Rs7.4 trillion. Official remittance inflows hit a record $13 billion in the past year. Nepal’s banks are flush with cash, with nowhere to put it. &nbsp; “The economy has flatlined. Non-performing assets are up, and real estate is at a standstill,” said Ashoke SJB Rana, CEO of Himalayan Bank.“There is excess liquidity in the market, with not many places to invest.” The main reason seems to be that both <a href="https://nepalitimes.com/here-now/relocate-reallocate-recover">domestic and foreign investors were spooked</a> by the targeted violence of 9 September, and are so worried about the runup to elections in March that they are holding on to their wallets. Not just businesses, the political uncertainty is keeping individuals &nbsp;from making big financial decisions.&nbsp; Sujeev Shakya, author of the <a href="https://nepalitimes.com/review/retrofitting-nepal-for-future-shocks">newly-released book Nepal 2043</a>, notes that the current doldrum is due to Nepalis playing it safe with their money. &nbsp; “People are holding on to their assets, and keeping their cash,” he says. “They are not investing in real estate, and avoiding buying gold because it is so volatile.”&nbsp; One sector in which banks have a lot of exposure is hydroelectricity, but even here recent floods have shown that this investment is <a href="https://nepalitimes.com/here-now/global-warning-bell-in-belem">increasingly at risk from climate breakdown</a>.&nbsp; Nabil Bank, with its focus on sustainable banking, for instance, has financed 56 hydropower projects with an installed capacity of 3,000MW.&nbsp; Says Nabil CEO Manoj Kumar Gyawali: “We cannot ignore unpredictable rainfall, increased glacier melt, more frequent glacier lake outburst floods, and landslides. These risks mean that while hydropower is essential, Nepal must diversify its energy mix." &nbsp;&nbsp; An open secret in the banking sector is that much of the liquidity is supected laundered money. Banks also have close ownership links with big businesses, and this means that even with a slow economy, banks lend to themselves or to each other to keep transaction volumes up.&nbsp; This is one reason for a high default rate. In the first three months of this fiscal year, 4.86% of bank loans were non-performing, meaning one out of about every 20 borrowers had defaulted. A year ago, this figure was 4.04%. Banks are therefore reluctant to lend, dampening the overall investment climate. &nbsp; Ironically, the high default rate is keeping mainstream newspapers in Nepal afloat at a time when the media business is also in crisis. Even as they suffer from a massive drop in advertising revenue, most daily newspapers often add pages to fit notices to borrowers about repayment, or announcements of bank auctions of collateral property. “While banks may be making a much smaller percentage of income compared to a few decades ago, they are still making a profit,” notes Shakya. “And so they are actually quite happy to be in this low-risk situation. Banks are conservative organisations after all.”&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251128041136_b33dd18d7ce221e273bd18d8a5c4ba4c9196f762b95b87fd24c60df6c2426065.jpg" data-media-id="editor_4" data-image-id="20251128041136_b33dd18d7ce221e273bd18d8a5c4ba4c9196f762b95b87fd24c60df6c2426065" data-rendition-name="original" width="1500" height="1022" loading="lazy" alt="Banks"> <figcaption>Illustration: BHANU BHATTARAI / NEPALI TIMES ARCHIVE</figcaption> </figure>  Among the most striking videos of the September protests that was shared globally by tens of millions of people was the Hilton and Hyatt hotels and the Ncell building burning. That recognisable international brands were targeted did not just cause huge losses to owners, but also damaged Nepal’s overall investment climate. Looting Bhat-Bhateni and homes of businessmen also sent a negative message, spurring capital flight.&nbsp; “That was very bad optics for potential investors, you simply worry about the security of your investment when you see things like that,” says Himalayan Bank CEO Ashoke SJB Rana.&nbsp; Nepal will graduate to Middle Income Country status next year, and donors are set to move from aid to private investment. While this could reduce misuse of money, it could dry up grants and soft loans to the health and education sectors.&nbsp; But the harm may go deeper than just the aftermath of the September events. The recent<a href="https://nepalitimes.com/news/double-trouble-with-taxes"> double taxation issue</a> involving the Dolma Impact Fund, and an earlier controversy over Ncell’s capital gains tax have also put Nepal’s business climate in negative spotlight internationally.&nbsp; The banking sector is firmly on the side of investors. Says Ashoke Rana at Himalayan Bank: “This is a tax regime, it is absurd to order the payment of these taxes retrospectively. When investors see that the rules of the game can change arbitrarily, they won’t really want to put their money here. ” &nbsp; One of the positive changes in the ways Nepalis are using money is digital transactions through QR codes and mobile banking. With smartphones making up 70% of all mobile phones, QR transactions are easy and have become a part of daily life. ONLINE BANKING&nbsp; Most businesses and ride shares have this feature on board, and people do not need to carry a lot of cash or multiple bank cards. But as digital payments become the norm, the days of free transactions may be coming to an end.&nbsp; “Right now these transactions are free for the most part. This is a subsidy by the banks, because of course, it does cost something to make sure the payments go through,” says Rana at Himalayan Bank. “However, as income decreases, banks may have to look for ways to make money, so they may charge small percentages on each QR transaction.”&nbsp; Rapid digitisation has changed not only how customers use money, but also how banks think about their offices. Himalayan Bank’s new Thamel branch, for example, has cancelled plans to redesign the office for 20 tellers.&nbsp; “We realised that people were able to do so much of what they wanted digitally that we plan to have only four tellers,” says Rana.&nbsp; But cutting down on facilities and staff has not always made for a better customer experience at some bank branches.&nbsp; Economist Sujeev Shakya conducts ghost customer experience checks for banks which involves decoys entering banks to evaluate what it is like for somebody to set up a bank account.&nbsp; The stealth missions found that standards of service have regressed, with banks having a working environment reminiscent of government offices.&nbsp; Shakya points out that the general experience of going to the bank should be much better. “Sometimes it’s a knowledge issue -- banks may try to ask for non-disclosure contracts even when they don’t know why they want them,” he says.&nbsp; Despite digitisation, many banks still require paper-based forms and documents. Bankers and customers alike note that it feels archaic, almost absurd, to have to carry multiple copies of documents, sometimes only in Nepali lokta paper, across several family members and fill out what seems to be the same form over and over even though digital files exist. That could soon be changing as well. As more and more Nepalis adopt the National ID, banks have adopted pilot programs that use it to create bank accounts, replacing the myriad documents that customers had to previously present to officials, making all banking transactions more efficient and less of a hassle for the customer.&nbsp; DIGITAL SECURITY As Nepalis move their cash online, digital infrastructure needs to become more secure as well.&nbsp; Bankers spend quite a lot to make sure necessary digital security infrastructure is in place, but some banks could be using pirated software which are not trustworthy.&nbsp; There has to be better regulatory oversight to prevent phishing and fraud as online payments and digital banking spread across Nepal.&nbsp; Banks must also be innovative and ambitious. Says Shakya: “Nowhere else in South Asia are bank loans such a high ratio of the nation’s GDP. &nbsp;This actually points to a well-developed financial system and we have to take advantage of it."&nbsp; Shakya also notes that many bank executives in foreign countries, like Myanmar are actually Nepali, and that banks from Nepal could use their staff and know-how to partner with or acquire banks overseas.&nbsp; While these innovations are all welcome, it is unclear how Nepal's banking sector can jumpstart economic activity in the country. Nepal’s political future looks uncertain and stability is not a guarantee.&nbsp; In the face of continuing progress in hydro electricity and the IT sector seems to be the way forward to stimulate the economy.&nbsp; The GenZ movement was a wakeup call also to financial institutions and the need for greater transparency. Nabil Bank CEO Manoj Kumar Gyawali says the September protests sent a clear message that young Nepalis want an end to corruption, good governance, and real opportunities at home: "The banking sector has a &nbsp;responsibility to direct more lending toward the real economy, sectors that create jobs, build productivity, and strengthen long-term growth," he says.&nbsp; Despite a subdued investment climate, Gyawali is optimistic. "I do see early signs of improvement. Lower interest rates are beginning to restore public and business confidence. Rising remittances provide a safety net and fresh investment capacity for households," he says. "If government capital expenditure continues to improve, it will boost private sector activity."&nbsp;

Vishad Raj Onta

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Cash rich, but poor

<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.

Inside Nepal’s biggest stock market tumble

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109141112/636ba76b9c7e80680e073781jpeg.jpg" alt="" width="1500" height="1000"/><figcaption>Photo: AJAYA UPADHAYAYA</figcaption></figure>As serious as the rapid spread in Nepal of the novel coronavirus looks, even more frightening is what the lockdown meant to prevent it will do to the <a href="https://www.nepalitimes.com/here-now/nepals-economy-already-weak-takes-direct-hit/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/here-now/nepals-economy-already-weak-takes-direct-hit/&amp;source=gmail&amp;ust=1598352647267000&amp;usg=AFQjCNHMB3uRxLtXPB1J9V0PQdJF-f6E6w">country’s economy</a>. The health impact of the virus may pale in comparison to <a href="https://www.nepalitimes.com/latest/nepal-plans-to-revive-economy-hit-by-covid-19/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/nepal-plans-to-revive-economy-hit-by-covid-19/&amp;source=gmail&amp;ust=1598352647267000&amp;usg=AFQjCNHZ73Q3ug57-h3IKB7NUBfuqD8LyQ">long-term damage</a> to the country from a prolonged lockdown that enters its sixth month today.It is difficult to make predictions on how Nepal’s economy will fare till the end of the year because that will depend on how the virus behaves. But all indications are of that SARS-CoV-2 is here to stay, and that it will resurface with added virulence in winter.On 21 July when Finance Minister Yubaraj Khatiwada triumphantly announced that the pandemic in Nepal had peaked, and the <a href="https://www.nepalitimes.com/latest/nepal-ends-covid-19-lockdown/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/nepal-ends-covid-19-lockdown/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNEfmOWpPyfs0PHIzdD4yHmecUC6hg">lockdown had been lifted</a>, traders, businesses and industries were cautiously optimistic. But since then there has been a surge, with cases and fatalities more than doubling in the past three weeks.Aside from essential food and other items, business transactions are down by more than half since 24 March when the restrictions were first announced. Even when the lockdown was eased last month, the people’s purchasing capacity had gone down and businesses did not really pick up.The Rastra Bank estimates that it will take at least nine months after the lockdown is fully lifted for the economy to come back to previous levels. This means Nepal is not going to see a recovery this fiscal year. The central bank says 22.5% of those employed in the country have lost their jobs in the past five months of lockdown.The central bank expects Nepal’s economic growth rate to plunge from 6.9% last year to less than 1% this year. But the World Bank is even more pessimistic, it says the growth rate may even go into negative 2.8% if the crisis continues.“Everything is at a complete standstill, there are no transactions taking place except people buying food from day to day,” says Shekhar Golchha of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI). “The question is how long before businesses run out of cash to pay salaries, and families run out of savings.”Factories along the Itahari-Biratnagar and Simara-Birganj corridors have been hardest hit not just by the plunge in demand but because workers who had returned from India after 21 July started falling sick.One of those hit was Jagadamba Steels, whose Sahil Agrawal says: “The sale of steel rods had picked up somewhat after the lockdown was lifted, but after workers tested positive, the local administration closed the factories. Now, with the lockdown everything is closed.”Even worse hit is the tourism and <a href="https://www.nepalitimes.com/latest/domestic-flights-need-to-resume-so-the-economy-can-take-off/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/domestic-flights-need-to-resume-so-the-economy-can-take-off/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNHQz5xiYmnvrrNu2XXeOqvI6eqyXQ">aviation sector</a> where revenue is zero for the past five months. Banks had given loans worth Rs1.1 trillion for hotels and restaurants, and had lent Rs40 billion to the transport sector. They are not in a position to replay even the interest, let alone the capital.Imports are down 20%, from Rs1.7 trillion in the first half of last year compared to only Rs85 billion in the same period this year. That should be good news, but it means the <a href="https://www.nepalitimes.com/latest/nepal-unveils-covid-19-budget/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/nepal-unveils-covid-19-budget/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNEHmYyroAVpq5ZVmt1E9zdYH6duUQ">government’s tax revenue</a> has gone down by more than half.The middle class has been hit hardest with incomes falling. Of the 923,000 registered businesses in Nepal, nearly all are small and medium enterprises employing less than ten people. As a result, house and property transactions have gone down by half last month compared to the same period in 2019.“Except for mobile phones, motorcycles, fast moving consumer goods, nothing else is moving,” says Golchha. “Even when they do shop consumers are buying cheaper items, which is an indicator of a drastic fall in income.”Even the sale of alcohol products are down by up to 80%. Bhat Bhateni Supermarket’s Panu Poudel says turnover in the nationwide chain had picked up after 21 July, but was still down by a third, but now it is back to zero again.But the real barometer of just how bad the crisis is can be felt in the banking sector where on the one hand liquidity is overflowing because of reduction in loan disbursement, but collection has also shrunk because of defaults. The print editions of the Nepali language press in the past month are full of bank notices for auctions of collateral property. However, even if the property is up for auction, they may be no buyers.In the whole of July-August the banks collected Rs34 trillion in loan repayments, but they lent only Rs28 billion. “The reason is that it is difficult enough just to survive for businesses, and they are in no position to take a loan to invest,” says businessman Pashupati Murarka.The government had told borrowers they had a grace period till December to repay bank loans without being put on the defaulters’ black list, but it is looking like even that is being optimistic.One ray of hope for businesses was that public spending would increase in the run up to Dasain, which this year falls at the end of October. But most businessmen have given up on a Dasain-Tihar revival this year. Car sales used to go up at this time, but the Nepal Automobile Dealers’ Association has cancelled its annual auto show, and its chair Krishna Dulal says: “This year we are just trying to get by, there is no hope for sales.”With revenue down, the government will be forced to borrow. But the state borrowing already makes up 37% equivalent of the GDP, and it could go up to 51% by the end of this fiscal year. Economist Govinda Bahadur Thapa says the government may run out of money if the current trend continues. He says: “We have brought the economy to a standstill to save lives, but we need to save the economy as well. It is a very difficult balance.”Former finance secretary Rameshore Khanal is not as pessimistic. Although he does not discount the seriousness of the crisis, he thinks what could save Nepal is that it is still largely a subsistence economy and families have coping mechanisms to get by in times of extreme hardships. For example, <a href="https://www.nepalitimes.com/latest/cash-flow-crisis-for-migrants-and-families/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/cash-flow-crisis-for-migrants-and-families/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNEYYoLn_p_-ES3VLLcSEZMh_J0QPQ">remittances from Nepalis working overseas</a> have not gone down despite predictions it would drop drastically.He says the <a href="https://www.nepalitimes.com/latest/ways-nepal-can-rebound-from-covid-19/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/ways-nepal-can-rebound-from-covid-19/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNH425REk3c_X8wnX5A6WbreQBdGKw">crisis also presents opportunities</a> for the government. “We can have a pro-active policy to channel unemployed Nepalis to the jobs 1.5 million Indian workers used to do before they went home, and this would be the time to flood the market with liquidity in order to inject cash and raise purchasing power.”Read also: <a href="https://www.nepalitimes.com/latest/ways-nepal-can-rebound-from-covid-19/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/latest/ways-nepal-can-rebound-from-covid-19/&amp;source=gmail&amp;ust=1598352647268000&amp;usg=AFQjCNH425REk3c_X8wnX5A6WbreQBdGKw">Ways Nepal can rebound from Covid-19</a>, Bikash Pandey

Economic cost of 5 months of Nepal lockdown

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171152/636937c29c7e80680e03fe5ajpeg.jpg" alt="" width="700" height="793"/>After ten years of blood and 12 years of trying to come to terms with why it was shed, Nepalis had great hopes for 2018.Last year this time, there was a sense of achievement and optimism. The first <a href="https://archive.nepalitimes.com/article/editorial/the-election-fever-federal-and-parliamentary-election,3982" target="_blank" rel="noopener">elections for three levels of government</a> under the new Federal Constitution had been held. The UML <a href="https://archive.nepalitimes.com/article/nation/show-stopper-headline,4101" target="_blank" rel="noopener">Maoist alliance swept the elections</a>, and the expected unification of the two <a href="http://archive.nepalitimes.com/article/nation/a-two-party-state,3968" target="_blank" rel="noopener">parties</a> was supposed to mark the end of unstable coalition politics, and finally deliver development. We had a straight-shooting <a href="https://www.nepalitimes.com/opinion/oli-here-for-good/" target="_blank" rel="noopener">can-do prime minister</a>, who despite failing health, had shown gumption and promise during campaigning.One year later, much of the <a href="https://www.nepalitimes.com/banner/let-a-thousand-flowers-bloom/" target="_blank" rel="noopener">euphoria has evaporated</a>. The past year has been one of missed opportunities, miscues, inaction and blatant blunders. Two months after the election results became clear, the lameduck Nepali Congress prime minister finally stepped down and the two communist alpha males K P Oli and Pushpa Kamal Dahal decided to <a href="https://www.nepalitimes.com/here-now/one-body-two-heads/" target="_blank" rel="noopener">co-chair their united party</a>, and rotate the prime ministership.Formal party unification took another month. Still, there was hope that Oli would hit the ground running, even if it was through showcase development, cleaning up the roads of the capital and launching major projects.Alas. It may have been unrealistic of us to expect the same septuagenarians from the same parties to suddenly govern with accountability and efficiency. The Nepali people did not expect much, so they were not surprised to see no improvement in their lives. The roads were still dug up, the <a href="http://archive.nepalitimes.com/article/nation/public-transport-syndicate,3531" target="_blank" rel="noopener">bus syndicates</a> that Home Minister Ram Bahadur Thapa promised to eradicate were still around, tanker operators were still striking for the right to steal oil, the culprits who absconded with 33 kg of smuggled gold were never caught, nor those responsible for the <a href="https://www.nepalitimes.com/banner/justice-for-sale/" target="_blank" rel="noopener">rape-murder of Nirmala Panta in Kanchanpur</a>.There were some bright spots, and these were mostly in sectors led by efficient and relatively young former UML ministers in the Cabinet like <a href="https://www.nepalitimes.com/banner/does-nepal-need-a-4th-international-airport/" target="_blank" rel="noopener">Rabindra Adhikari</a> (Tourism), <a href="https://www.nepalitimes.com/here-now/win-win-migration/" target="_blank" rel="noopener">Gokarna Bista</a> (Labour) or <a href="https://www.nepalitimes.com/banner/calendar-of-economic-change/" target="_blank" rel="noopener">Yubaraj Khatiwada</a> (Finance). But even they are finding it difficult within their ministries to get the wheels of government to turn.The rent-seeking state is so habituated to extortion and extraction that Bista has run into a wall in implementing his ground-breaking accord with the new regime in Malaysia to remove <a href="https://www.nepalitimes.com/banner/kleptocrats-of-kathmandu-and-kualalampur/" target="_blank" rel="noopener">exploitation and costs for Nepali migrant workers</a>. Adhikari, despite all his efforts, cannot go beyond cosmetic improvements at Kathmandu airport. Khatiwada’s valiant efforts at fiscal discipline and capital spending are not yielding results, and this has resulted in a <a href="https://www.nepalitimes.com/opinion/banking-on-a-course-correction/" target="_blank" rel="noopener">liquidity crisis that threatens the banking sector</a>.If that is how honest politicians are prevented from delivering, one can imagine what is happening in the ones led by corrupt and ruthless ministers lining their pockets as if there was no tomorrow. The sordid list of impunity and abuse of authority is long and makes for thoroughly depressing reading every morning: ambassadors on the take from traffickers, justices who hurriedly clear criminals ahead of their imminent retirement, absconding multiple-murderers appearing on stage with the CDO and police, and a ministerial secretary demanding a Rs250 million bribe to release funds for the much-delayed Melamchi water project.What is worse is that the public is now so cynical about officials plundering the state that these investigative reports do not even raise eyebrows anymore. Media exposes cause a brief flutter before society shrugs, and moves on.We hoped to be able to wish our readers a happy new year 2019. But Nepal and Nepalis will probably just muddle through another 52 weeks.

A year wasted

The Himalayan mountains are also known as the Third Pole because it is the largest repository of water stored as ice outside the two polar regions. However, it is divided by political boundaries that nature does not recognise – be it the air pollutants that flow or migratory birds that fly over the peaks. The Himalaya is also a geopolitical and climate change hot spot. In these geopolitically and environmentally challenging times, it becomes even more important to create oases of conversations, where candid and future-oriented discussions can take place at a people-to-people level. Platforms dominated by inter-governmental agencies have been able to do little. The Himalayan Future Forum (HFF) aims to be a platform that stands at the crossroads of climate, community, and connectivity, fostering dialogue and promoting citizen-led action. Growing up in the Indian Himalayan town of Kalimpong and spending the nascent stages of my career helping in setting up offices of the award-winning Annapurna Conservation Area Project (ACAP) that fostered community involvement in conservation, I have witnessed transformations both good and bad.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205070244_6e2087b11fff0cc6704eebaee6f169848a9cfd57c4a02d7d1fd45db2526d2f67.jpg" data-media-id="editor_0" data-image-id="20260205070244_6e2087b11fff0cc6704eebaee6f169848a9cfd57c4a02d7d1fd45db2526d2f67" data-rendition-name="original" width="5559" height="3711" loading="lazy" alt="HFF 2026"></figure>  There are initiatives like Nepal’s forest cover doubling in 30 years, or Bhutan’s drive for high-end sustainable tourism. At the same time, I have seen landscapes destroyed by bulldozers and tall buildings competing for air and sunlight in expanding cities. From crony capitalists patronised by political leaders engaged in plundering natural resources to citizen-led initiatives on cleanliness drives and waste management, the Himalayan region is full of stories from both ends of the spectrum of disappointment and hope. Life is about observing and, in one’s little sphere of influence, taking baby steps towards catalysing positive transformation. This is why, Nepal Economic Forum (NEF) had been hosting the Himalayan Consensus Summit in Nepal from 2014 to 2020 following which the Himalayan Future Forum (HFF) was incubated since 2023. HFF is an initiative to encourage multi-faceted dialogues on the topics of climate, community, and connectivity in the Himalayan region by bringing together leaders, experts, institutions, and practitioners from different countries and sectors.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205070244_a7e673507dcdb6e265cb6f76f2890f17af36f17006a7f6d0f2f0e1a288c89a09.jpg" data-media-id="editor_1" data-image-id="20260205070244_a7e673507dcdb6e265cb6f76f2890f17af36f17006a7f6d0f2f0e1a288c89a09" data-rendition-name="original" width="5364" height="3581" loading="lazy" alt="HFF 2026"></figure>  In this year’s edition, there are a series of sessions on 6 February with 34 speakers including ten international panelists. On day two the Himalayan Haat aims to showcase a variety of local, indigenous, and sustainable products. As in 2024, it is believed that the conversations and interactions at the HFF will lead to more partnerships and collaborations from climate financing to managing disasters to taking Himalayan brands global. YOUNG FELLOWS Beyond this, there are sessions on topics such as geopolitics and the Himalaya, as well as on migration which are especially relevant considering the past few years that have seen many events which impacted the global world order. One of the key features of HFF, guided by our ethos of bringing together experts, experiences, and enthusiasm, is also to ensure stronger youth representation through the HFF Youth Fellowship. This year, following a rigorous screening process, youth fellows were selected out of an overwhelming response. Those chosen will be able to attend the events as well as collaborate in future research and publications. Selected fellows will also be provided with full scholarships to the public policy program at Takshashila Institution, an independent centre for research and education in public policy in Bangalore. In a region where half of the population is under 25 years, it is important to get the future generations also in the room.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205070244_3416bd14d5249afeb357b11f760f49b0cd1d77feeac71d820406b2d9e86696bc.jpg" data-media-id="editor_2" data-image-id="20260205070244_3416bd14d5249afeb357b11f760f49b0cd1d77feeac71d820406b2d9e86696bc" data-rendition-name="original" width="5273" height="3520" loading="lazy" alt="HFF 2026"></figure>  Nepal presents an ideal location to hold meetings such as this, where no-holds-barred conversations can take place face-to-face. The country has good air connectivity and one of the most liberal visa policies in Asia. And while Davos is a good example to follow for convening global voices, we need not have so many private planes burning fossil fuel, as we can have participants take scheduled commercial flights or have regional participants simply take a road trip. Ultimately, the Himalayan region is also about festivities. No exchange of ideas is complete without immersing in art, culture, culinary experiences, and music. This is why HFF envisages graduating to a Himalayan Jatra, rooted in a region where people smile from the heart, and teach the world to smile with them. Join us at HFF 2026 as we move closer to this vision. See the schedule <a href="file:///Z:/%231297%20February%206/pix/page%209/HFF%202026%20Program%20Schedule%20(1)_compressed.pdf">here</a>. Sujeev Shakya is Chair of Nepal Economic Forum and Convenor of the Himalayan Future Forum.

Himalayan Futures Forum 2026

Kathmandu Valley alone now has over 700 cafes serving mugs made from freshly ground beans. ‘Americano double shot’, ‘Cappuccino’ and ‘Mocha’ have entered the Nepali language. It has also become a cash crop for thousands of farmers with near-perfect growing conditions along the Himalayan foothills.&nbsp; Yet, annual coffee production has declined by 15% to only 550 tons in the past years, and this meets only a fraction of the domestic demand of 6,000 tons.&nbsp; Nepali coffee fetches $22 per kg in the international market, but Nepal only exports 3% of its crop. If cleverly promoted, the international demand for Nepali coffee can be 8,000 tons. “Coffee is all about story-telling,” explains <a href="https://archive.nepalitimes.com/article/business/Gagan-Pradhan-and-Himalayan-Java,1076">Gagan Pradhan, founder of Himalayan Java Coffee</a>. “Nepali coffee has brand value because it is grown in the highest elevations on earth and is a cash crop for cooperatives and small farmers. There is tremendous potential for growth.”  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100216_1f366d8a85cc133fedee0ee72d7768d3a23bf51f8d43edbdadf98443bc0c01ba.jpg" data-media-id="editor_1" data-image-id="20260205100216_1f366d8a85cc133fedee0ee72d7768d3a23bf51f8d43edbdadf98443bc0c01ba" data-rendition-name="original" width="2000" height="1518" loading="lazy" alt="coffee culture in Nepal"> </figure>  The reason for the decline in coffee production lately is attributed to erratic weather caused by climate change, but mostly it is because it is manual-intensive, needing initial capital and patience for a return on investment. The strategy that makes most sense for <a href="https://nepalitimes.com/here-now/make-way-for-makalu-coffee">Nepal’s coffee industry</a> is to sell it as a rare, specialty product.&nbsp; Says Raj Kumar Banjara, master trainer at Nepal Coffee Academy and originator of the Himalayan Arabica brand: “There is no better crop for Nepal because we have the ideal soil and weather to grow specialty coffee, which can be exported to third countries directly instead of sending it through India like with ginger, cardamom, or tea.” These favorable conditions are at altitudes between 800m to 1,600m along the mid-mountains and temperature not exceeding 22°C, which allows cherries to &nbsp;develop slower, giving it a denser taste with complex flavours of fruits and nuts.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100216_35e470381d258d9598d30165d0dbb6b4294c389c61695bf8c47d72d2273b4629.jpg" data-media-id="editor_3" data-image-id="20260205100216_35e470381d258d9598d30165d0dbb6b4294c389c61695bf8c47d72d2273b4629" data-rendition-name="original" width="3872" height="2592" loading="lazy" alt="coffee culture in Nepal"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100216_f7ccb42d7a7fb656dadc7ba5132a6243b8f99a28f7877875172411b7a4c96bc0.jpg" data-media-id="editor_4" data-image-id="20260205100216_f7ccb42d7a7fb656dadc7ba5132a6243b8f99a28f7877875172411b7a4c96bc0" data-rendition-name="original" width="1024" height="768" loading="lazy" alt="coffee culture in Nepal"> </figure>  This is ‘Arabica’ coffee, and it is also considered ‘organic by default’ because farmers have limited access to chemical pesticides and fertilisers, adding to its premium. All of Nepal’s coffee is grown in only 4,300 hectares total, and this is just 0.36% of the area suitable for coffee farming. Still 31,000 households across 44 districts depend on this cash crop.&nbsp; Challenges include out-migration, limits on land ownership, and climate breakdown leading to colder, drier winters, droughts and heat stress. Shreeyanch Shrestha is the founder of Samparka Cloud Loyalty, a startup that helps businesses retain customers by giving them insights about customer behaviour. Among the services offered is a digital loyalty card for coffee shops, one of his biggest clientele.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100216_c80e17ac78016ae5a90f4b27105e16af6c39d1422665f9f9c9b1d8404e5e7d54.jpg" data-media-id="editor_5" data-image-id="20260205100216_c80e17ac78016ae5a90f4b27105e16af6c39d1422665f9f9c9b1d8404e5e7d54" data-rendition-name="original" width="1280" height="960" loading="lazy" alt="coffee culture in Nepal"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100212_968c5b264ec2fb65014dc3ebc2777f0bf19f596a4152c59f9cad9d99dee79df7.jpg" data-media-id="editor_6" data-image-id="20260205100212_968c5b264ec2fb65014dc3ebc2777f0bf19f596a4152c59f9cad9d99dee79df7" data-rendition-name="original" width="1200" height="900" loading="lazy" alt="coffee beans"> </figure>  Shrestha is also a coffee enthusiast, and recently collaborated with Baato Maps on the playfully designed ‘Kathmandu Coffee Map’.&nbsp; “This was a marketing campaign but also a way to pay tribute to cafe owners we worked with,” he says. “A new generation of coffee farmers, processors, roasters and consumers seem to want to invest in upgrading their coffee experience.” COFFEE CULTURE Operators such as Raj Kumar Banjara have been in that game for over 30 years, even earning a PhD in Coffee Agriculture, running farms and teaching roasting and barista courses. Now, he makes short how-to videos on social media. Banjara’s Academy is run by Specialty Coffee Association certified Q Graders and Authorised Trainers.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100216_22433d3a8b71224cd8cb38105b9eb5502a104e03ccec2e3864c8b23efc9f3fc6.png" data-media-id="editor_7" data-image-id="20260205100216_22433d3a8b71224cd8cb38105b9eb5502a104e03ccec2e3864c8b23efc9f3fc6" data-rendition-name="original" width="3612" height="2028" loading="lazy" alt="coffee culture in Nepal"> </figure>  Also promoting a coffee culture through social media is Santosh Shah of Bariko Coffee. He documents his process on Instagram, from hand picking and processing coffee cherries to brewing.&nbsp; Nepal appears to be riding the Third Wave of Coffee (see box) as the beverage moves away from the café chain culture to one that values knowledge of the cherries, beans, the roasting process and brewing -- right from the plant to the cup.&nbsp; Along the way, there are tales to be told about where the coffee is grown, who grows it, and how farmers get a fair price for the product. Coffee then becomes a shared social experience that directly connects the consumer to the producer. Nima Tenzing Sherpa returned to Nepal from the United States to start Lekali Coffee Estate in 2018, and produces fine single origin coffee beans so that the quality of the product improves the quality of life of the growers.&nbsp; He told Nepali Times: “Specialty-grade beans are the only future for Nepal’s coffee industry. I am continuously hunting for the best coffee origins in Nepal.” &nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260205100212_e08ba44d6396eb75da868404dd8cf2a26b71cd6d90ab3afaf7175790c111d21e.jpg" data-media-id="editor_8" data-image-id="20260205100212_e08ba44d6396eb75da868404dd8cf2a26b71cd6d90ab3afaf7175790c111d21e" data-rendition-name="original" width="3000" height="4000" loading="lazy" alt="coffee beans"> <figcaption>Photo: LEKALI COFFEE ESTATE </figcaption> </figure>  HISTORY OF COFFEE Human consumption of coffee began in Ethiopia when herders found their goats became perky after eating beans from a wild Arabica bush. The first commercial cultivation of the brew began in Yemen 600 years ago. &nbsp;&nbsp; Nepal’s coffee history is much younger. A holy man is said to have brought coffee seeds from Burma in 1938, and planted them in Gulmi, the district in the mid-mountains where the first coffee nursery was set up in 1981. The Nepal Coffee Company was founded in 1983 by Krishna Ghimire in Manigram near Butwal which educated farmers about the crop and recruited them to cultivate it. He then roasted the beans, and convinced the BhatBhateni stores, which had just opened, to sell it. The company still supplies coffee to cafes and has its own brands and farm. It supplies green beans to those who want to self-roast, or build a brand. In the 1990s, the National Tea and Coffee Development Board was established, and Himalayan Java Coffee (Nepal Made, right) opened its first shop in Kamaladi before moving to Thamel. Itr now has nearly 100 franchises across Nepal and overseas.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260207030236_1908f4a4246d373f51affa8ac48be90129e888f1222b8f10e5cd25421e931dd8.jpg" data-media-id="editor_9" data-image-id="20260207030236_1908f4a4246d373f51affa8ac48be90129e888f1222b8f10e5cd25421e931dd8" data-rendition-name="original" width="2052" height="1455" loading="lazy" alt="coffee map"> </figure>  What is the Third Wave? First Wave: Profit-driven, mass marketing, air tight containers and instant coffee. Consumption of coffee worldwide starts growing.&nbsp; Second Wave: Artisan-driven, origin and roasting style become important, epitomised by Starbucks and espresso. &nbsp; <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/Nepali-specialty-coffee,4106">Third Wave</a>: Characteristics of the beverage take centre stage: origin of the beans, consistent processing techniques, and roasting style. Independent coffee shops demonstrate craftsmanship and knowledge of coffee beans from plant to the cup, promoting ethics and transparency.&nbsp; Coffee Districts Coffee is grown in over 44 districts of Nepal (see map, above). In the last fiscal year, Nepal produced 550 tonnes of Bourbon, Typica and Yellow Caturra varieties of Arabica coffee. The total plantation area in Nepal is 4,300 hectares, a fraction of the total suitable land. &nbsp;

Caffeine buzz

When I landed in Kathmandu last November, I arrived with a Diwali hangover. Not the festive kind, but the coughing, dust-coated, throat-scratching kind gifted by North India’s winter air. After a decade of breathing in Delhi’s seasonal gas chamber, my lungs were in an open revolt. But within days of landing in Kathmandu, my cough vanished. It felt almost miraculous. The air was crisper. The Air Quality Index was kinder, and the Himalayan peaks rose on the horizon.&nbsp;
But by the third week, the familiar grey veil returned. First as a faint blur, then peak by peak the Himalaya began to disappear. Locals said it had been getting worse every year.&nbsp;
Much of this haze is not Kathmandu’s doing. What drifts into Nepal each winter is a toxic spillover from the plains of North India and Pakistan: black carbon, brown clouds, and fine particulate matter carried across borders by seasonal winds. Kathmandu’s bowl-shaped valley simply traps what the region exhales.
Abid Omar, founder of the <a href="https://pakairquality.com/" target="_blank">Pakistan Air Quality Initiative</a>, put it bluntly: “We often view air pollution and climate change as separate silos, but in the Himalaya, they are one and the same.”
Black carbon is essentially soot from diesel emissions, brick kilns, and crop burning. It may be short-lived in the atmosphere, but when ash settles on snow and ice, it reduces reflectivity and accelerates melting.&nbsp;
Omar adds, “Black carbon is a threat to the water security of the entire Indus and Ganges basins.”
What burns on both sides of Punjab do not stay in Punjab. It ends up on glaciers that feed rivers, sustaining hundreds of millions of people downstream.
In November 2024, AQI levels in New Delhi hovered near 500 and about the same time Lahore briefly became the world’s most polluted city, with the AQI count crossing 1,100. These numbers are not abstract.
According to the <a href="https://www.stateofglobalair.org/resources/archived/state-global-air-report-2024" target="_blank">State of Global Air 2024 report</a>, India recorded more than 2 million deaths attributable to air pollution in 2023. Bangladesh and Pakistan each saw over 200,000 deaths. Air pollution is now one of the leading causes of premature death across South Asia.
Nepal, often imagined as cleaner by default, tells a sobering story of its own. Air pollution in Nepal led to an estimated <a href="https://www.worldbank.org/en/news/press-release/2025/06/17/air-pollution-is-the-number-one-health-risk-factor-in-nepal#:~:text=Vehicle%20Emissions:%20Continuing%20to%20electrify,airflows%20carry%20pollutants%20across%20borders." target="_blank">48,500 premature deaths</a>, with the loss of more than 1.4 million disability-adjusted life years. The University of Chicago’s <a href="https://aqli.epic.uchicago.edu/post/nepal-capital-chokes-as-wildfires-rage-en" target="_blank">Air Quality Life Index</a> estimates that particulate pollution cuts 3.4 years off the life of the average Nepali. In the Tarai region, life expectancy drops by nearly five years. In Kathmandu, residents lose 2.6 years.
Says infectious disease specialist Anup Subedee: “Air pollution is killing at a far higher rate than Covid-19 did during its worst years in Nepal. People are dying in their twenties of cancer, or having heart attacks and strokes in their thirties and forties.”
Nearly <a href="https://www.icimod.org/press-release/kathmandu-choked-on-polluted-air-for-75-of-the-last-90-days/?utm_source=chatgpt.com" target="_blank">40 per cent of winter particulate pollution in the Kathmandu</a> valley originates outside Nepal. Black carbon carried from Punjab, Haryana, and Uttar Pradesh in India, besides parts of Pakistan, rides the winds north, settles on Himalayan snow, and accelerates glacier melt by absorbing heat.
“The pollutants travel across borders within shared airsheds, creating one gigantic plume of polluted air over India, Nepal, Bangladesh, and Pakistan several times a year,” says Subedee.
In some Himalayan regions, <a href="https://www.icimod.org/success-stories/chapter-2/black-carbon-and-glacier-melt/" target="_blank">scientists estimate</a> that black carbon can increase localised melt rates by up to 30%. Yet global climate negotiations continue to treat glacial loss primarily as a carbon dioxide problem.&nbsp;
CHINA’S APPROACH
The South Asian story is transboundary, and more immediate as well as more preventable. This is not only about emissions. It is about coordination, and China offers an instructive contrast.
Since 2013, China has dramatically improved its air quality by declaring a '<a href="https://www.aljazeera.com/opinions/2025/12/12/what-new-delhi-can-learn-from-chinas-war-on-air-pollution#:~:text=In%20the%20following%20years%2C%20Beijing,29.3%CE%BCg%2Fm%C2%B3%20in%202024." target="_blank">war on pollution</a>'. A major air pollutant, suspended PM2.5 levels fell sharply through strict controls on coal, vehicles, and industry, massive investment in renewables, and legally binding national action plans.
Crucially, China shifted from city-by-city firefighting to a regional airshed approach. Provinces shared data, coordinated emergency responses, enforced unified standards, and tied environmental performance to political accountability. South Asian countries have done none of this.
Isolated national actions are insufficient when pollution itself ignores borders. India, Nepal, Bangladesh, and Pakistan share the same airshed. Without cooperation, each country keeps breathing its neighbour’s mistakes.
“As the government representing the largest population affected by air pollution, India should lead this effort. Instead, the region has drifted away from cooperation, and the cost is becoming catastrophic,” Subedee says.
The haze over Kathmandu is not only Nepal’s burden. It is a <a href="https://sapannews.com/2024/12/27/could-climate-diplomacy-be-the-googly-a-gamechanger-for-regional-cooperation/" target="_blank">regional failure</a>. The melting of South Asia’s glaciers is not just a global warming story. It is also a local one, written in the smoke rising from our own fields, factories, and highways.
If we keep ignoring black carbon, the Himalayas will keep losing time, snow, and stability. The disappearing peaks of Kathmandu are not a metaphor. They are a warning.
And like the air itself, that warning is already crossing borders. ©Sapan News
Pragyan Srivastava is an Indian journalist and associate editor at <a href="http://www.sapannews.com/" target="_blank">Sapan News</a>. <a href="mailto:pragyan@sapannews.com" target="_blank">pragyan@sapannews.com</a>

Cleaning up the Himalayan airshed

This is the 82nd episode of Diaspora Diaries, a Nepali Times series in collaboration with Migration Lab providing a platform to share experiences of living, working and studying abroad. In September, under pressure from GenZ activists, Home Minister Om Prakash Aryal pledged to ensure that overseas Nepalis would be able to vote in the March election. The analysis from experts, election officials, and much of the public was that the Election Commission was not prepared to ensure out-of-country voting in such a short time.&nbsp; But just because the diaspora cannot exercise its franchise does not mean Nepalis abroad cannot influence the election outcome. The 2021 census said 2.1 million Nepalis lived abroad, but realistically three times more live, work and study overseas.&nbsp; Being breadwinners also makes them decision makers for families back home. Most have left because they could not get meaningful jobs and sought opportunities abroad, which means they are not happy with the way Nepal has been governed by the established parties and leaders.&nbsp; The diaspora is therefore mostly an anti-incumbent vote bank, which was one reason the political leadership blocked out-of-country voting for so long – despite a Supreme Court ruling that all citizens had a constitutional right to vote, wherever they lived. &nbsp; In the 2022 polls, overseas Nepalis had already shown considerable influence by backing newer and alternative candidates like Balendra Shah for Kathmandu mayor, and parties like the RSP. In the four years since, and especially since the GenZ movement, support for a political shakeup has grown even stronger. So has technological reach that enables the diaspora to politically organise from overseas. &nbsp;‘Technology has reduced the distance in communication, but has also lowered the barrier in a way that allows overseas Nepalis to pressure family members,’ author Narayan Wagle wrote in an op-ed on Setopati this week. Indeed, all it takes for family members to be convinced whom to vote for is an ultimatum that relatives will stop sending money. With less than a month to go for the 5 March election, many Nepalis overseas are campaigning remotely for preferred candidates, even if they cannot themselves cast ballots.&nbsp; The overwhelming feeling seems to be that younger candidates should be given a chance. &nbsp;&nbsp; Read what some Nepalis abroad have to say. NEPAL'S NON-VOTING MIGRANTS <h2>My Respected Parents</h2> Anil Gole, Romania [This letter is a letter to my parents ahead of the election. They are UML supporters, my uncle is for the Nepali Congress (NC), and my grandfather supports the Nepali Communist Party (NCP).] My Respected Parents, I hear that election fever has picked up in the village. New faces with new ways of thinking have emerged this time. I don’t really understand politics, so what I say may feel bitter. But Father, when I see the flag with the sun in your hands, I remember the heat of Qatar from 12 years ago, your sunburnt skin and mother’s cheeks wrinkled with worry. Perhaps Uncle, too, found the Saudi heat so intolerable that he returned home. That may be why while seeking shade, he found the NC tree symbol endearing. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great uncle spent his whole life back home in the village, which is perhaps why he identifies with symbols like the plough, the sickle, and the hoe.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040236_669402ff85bdbd58360c12e10d23900ad99596b7a8dc196b8db1bcfe7e81e80e.jpg" data-media-id="editor_0" data-image-id="20260206040236_669402ff85bdbd58360c12e10d23900ad99596b7a8dc196b8db1bcfe7e81e80e" data-rendition-name="original" width="1200" height="1600" loading="lazy" alt="Overseas vote bank NT"> <figcaption>Anil Gole</figcaption> </figure>  Even then, at any cost, vote for the same politicians. Vote for the same politicians who have not developed the country, who have not fed the poor, whose sons have not been shot.&nbsp; What if the country does not change? I have changed my country. When homesick, I have learnt what it feels like to suffocate in tears under a blanket. Now my younger brother is old enough. Send him here as well. We brothers will earn together. We will marry off our sister in a grand way. So what if the country does not develop? We will build a small, cute house with a big yard. You can play with the grandchildren there. And when they grow up, they too can migrate. But if you vote for the right people and the country gets good leaders, future generations will not have to sweat in foreign lands. They will not have to leave the comfort of a mother’s lap to spend nights abroad in unknown cities. No matter how hard things get, they will not have to lie in letters to their mothers,saying, “I’m doing fine, Mother.” I have not lost courage because of your blessings. My body is here, but my mind is always back home in Nepal. Your children are here, but my children’s future is in your hands. That is why vote for the same politicians whose hearts did not bleed even when the young were killed, the same politicians whose children have not come home in a box. Mother and Father, please take care of each other. Yours truly, Your fortunate migrant son <h2>Algorithm versus vision</h2> Ambika Paudel, Qatar I have been in Qatar for 18 years, and work in the facilities management, engineering, shipping and logistics &nbsp;industry. I get to interact with people from across the world, and they are closely connected with their embassies through online systems and communities. I lead the Nepal Expatriate Community that has multidisciplinary professionals and have observed the need to revise the narrative around migrants. We are here for our families. The sacrifices we make are for them. We are working for our own career growth and families because there were no opportunities back home. Many of us have achieved a good standard of living through our hard work and merit. When I send money to Nepal, it is for my family and the benefit to the government is a byproduct. It would have been good if we got to vote, too. That possibility and promise got lost somewhere in the policy confusion and lack of technical capacity. Overseas Nepalis are also deeply invested in the election, but it is largely algorithm based. We are not questioning the vision of the candidates.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040236_dc05b31d3abcf126360d923615a785a36de5b62a8695af9cbff000b586d0336d.jpg" data-media-id="editor_1" data-image-id="20260206040236_dc05b31d3abcf126360d923615a785a36de5b62a8695af9cbff000b586d0336d" data-rendition-name="original" width="1200" height="1600" loading="lazy" alt="Overseas vote bank NT"> <figcaption>Ambika Paudel</figcaption> </figure>  Our parents back home are the actual voters, and those overseas &nbsp;are talking to them. I don’t think they will be swayed just based on calls, and they shouldn’t be either. We are prioritising algorithms and words and social media boosts over vision, experience, and concrete plans. I am for the NC but I am not a blind supporter. Despite being at the forefront of every significant democratic change in Nepal’s history, the party has had lapses but it is currently on a new trajectory. Not all candidates of all parties are good so we have to elect competent leaders and question them. Whatever promises they make need to be examined for delivery and vision.&nbsp; There are also Congress loyalists who are swayed and influenced by the new, but I let it be — it is their right, their choice. Change requires vision and experience, it should not be based on hype, I remind them. Over online conversations, I tell them to vote wisely so they don’t regret it later. I returned from my break just recently so I cannot come home to vote as it will be too expensive. There are good human resources back in Nepal and in the diaspora which can be used. There are people in decision-making positions in their companies who are very capable and intelligent who could contribute to Nepal. These are missed opportunities in our policymaking and governance: Nepal needs to create opportunities for capable Nepalis.&nbsp; The new government can make the investment climate better through a one-door system so that services are accessible, quick and there is no need to go to multiple offices to start a company or pay taxes. This would also stop unnecessary bribes and other hassles. I don’t have plans to return in the near future. I have a good job and am earning well. I came to Nepal between 2016 and 2019 and remigrated again after things did not work out. <h2>The young need convincing</h2> Jeevan Kumar Dewan, Malaysia I have been living in Malaysia since 2001, and am an active member of the UML wing here. There is excitement about the upcoming election, but we are bound by contracts so cannot go home to vote.&nbsp; There was hope that we would be able to vote from overseas, but there were questions of security. Even though we won’t be able to vote, people are actively participating online and using social media to show their support to their candidates and parties of choice.&nbsp; Political parties prioritise organisational expansion overseas but there is no direct campaigning during elections. It is through conversations and social media engagement that people are participating, debating and expressing their support and loyalty.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040240_2ed54377199b995f0a19b7be98fff79004c13787c7a07185a47427467237277a.jpg" data-media-id="editor_2" data-image-id="20260206040240_2ed54377199b995f0a19b7be98fff79004c13787c7a07185a47427467237277a" data-rendition-name="original" width="2048" height="1536" loading="lazy" alt="Overseas vote bank NT"> <figcaption>Jeevan Kumar Dewan</figcaption> </figure>  &nbsp;As a UML supporter, it is my duty to remind people to cut through the noise and to separate facts and truth. While elderly voters don’t need much convincing as they are loyal to the party, I do engage a fair amount with the young voters. I have to remind them not to get distracted by the videos shared in social media platforms. All new is not good just because it is new if there is no real political agenda. There is no doubt that we need change but being new is not enough nor can we overlook the contributions and experience of the old parties. All we can do is talk to the voters and try to get our message across. It is important to prioritise better managed migration and also to ensure migrants have proper guidance on how to invest their hard-earned money in productive sectors, even when it is not much, so they have something to fall back on after returning. I don’t have plans to return immediately, I go back and forth quite frequently. I have a stable job and I have seen how my friends who left secure jobs to return home ended up remigrating after their investment failed. I will stay here and continue with my job which I am happy with. <h2>The old need convincing</h2> Prajwal Poudel, Saudi Arabia I work as a data entry analyst in Saudi Arabia. People overseas have seen development, but have also experienced challenges of being away from home. Politicians are aware of this and didn’t want us to vote.&nbsp; When I was in Nepal, I did not care much about politics. It was not for me. But overseas we care about Nepal even more. Perhaps you don’t know the value of something unless you lose it. Perhaps distance makes hearts grow fonder. I am definitely more invested in Nepali politics after leaving.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040240_43ea30dfb58b873760e40177d84dca4bb34f1c9cdffdbc9a7c5a0c26b15e78b9.jpg" data-media-id="editor_3" data-image-id="20260206040240_43ea30dfb58b873760e40177d84dca4bb34f1c9cdffdbc9a7c5a0c26b15e78b9" data-rendition-name="original" width="738" height="1600" loading="lazy" alt="Overseas vote bank NT"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040240_dfbc2302411e1ae32a4ab048fa34d940147942c00845d82d9cf59574f5c2e0fe.jpg" data-media-id="editor_4" data-image-id="20260206040240_dfbc2302411e1ae32a4ab048fa34d940147942c00845d82d9cf59574f5c2e0fe" data-rendition-name="original" width="1080" height="1200" loading="lazy" alt="Overseas Nepali vote bank NT"> </figure>  So I have to make sure that family members back home make the right decision this election. My cousin is also with me in Saudi Arabia and I was talking to his parents and telling them to vote correctly. They have voted for the same faces for two decades. I said that if there had been changes we would not have had to migrate. That this time they should accept the masu-bhat and alcohol, say UML-Congress jindaawaad, take the money offered but finally stamp on Ghanti.&nbsp; My cousin posted a recording of that call spontaneously on Tiktok. It went viral perhaps because it resonated with the youth. We cannot vote but we have to make sure at least our close family members vote correctly. My mother also seems ready for a change despite her loyalty to the UML, but I tell her she does not need to change her party just change her vote this year.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260206040240_0234dfec6f97a726f67120124833bb3fdc84cbf794eee910736649c5624e7576.jpg" data-media-id="editor_5" data-image-id="20260206040240_0234dfec6f97a726f67120124833bb3fdc84cbf794eee910736649c5624e7576" data-rendition-name="original" width="1168" height="1556" loading="lazy" alt="Overseas vote bank NT"> <figcaption>Prajwal Poudel</figcaption> </figure>  We need to give the new ones a chance. But it’s also true that the new will not bring dramatic changes overnight. Conversations here are all about the election back home. We talk about who is getting elected from their areas. Who they think will win. But the hottest topic of conversation is of course Jhapa. For those of us abroad, the government should make our embassies stronger. Back home, I hope corruption will be curbed and that good roads will reach all corners of the country. This will allow people to develop the country themselves.&nbsp; I am the son of a Malaysia returnee. I even worked as a teacher in Nepal. I could not even afford decent clothes so I left everything and came here. I don’t know when I will return.