Climate mitigation targets are being rolled back worldwide, and time is running out for saving <a href="https://nepalitimes.com/news/himalayan-icecap-melting-faster-than-thought">the Himalayan icecap</a>.&nbsp;
That was the unsaid message of the three-day Sagarmatha Sambaad international climate conference hosted by the Nepal government in Kathmandu this week.
The gathering ended with a 25-point Call For Action, but drew criticism for being yet another talk shop, regurgitating jargon and deflecting blame for <a href="https://nepalitimes.com/latest/nepal-doubles-its-carbon-footprint">lack of seriousness in reducing emissions</a>, adapting to weather extremes in the region, and failure in cross border cooperation.
“The event put Nepal and Everest on the global climate map and had geopolitical benefits for Nepal,” says climate policy analyst Arjun Dhakal. “But it was a missed opportunity for Nepal to strongly push<a href="https://nepalitimes.com/here-now/nepal-needs-weather-stations-in-the-himalaya"> climate-smart infrastructure</a>, transboundary <a href="https://nepalitimes.com/here-now/yes-quakes-can-be-forecast?%2F">early warning systems</a> and highland research.”
Nepal unveiled its Nationally Determined Contributions (NDC) 3.0 with mitigation targets for 2030 and 2035, and its first Biennial Transparency Report with emissions data from 1994 to 2022 and projections up to 2050.
Although Nepal has met previous targets for forest cover (46% of area) and made progress in promoting <a href="https://nepalitimes.com/here-now/nepal-s-journey-to-electric-public-transport">electric transport</a>, <a href="https://nepalitimes.com/news/fossil-fools">fossil fuel </a>use is growing. The Third NDC targets a 17.1% reduction in net greenhouse gas emissions and 26.8% by 2035. This could have a price tag of &nbsp;$73.74 billion — most of it from international climate finance at a time when money for it is drying up.
Nepal also hopes to increase electricity generation to 28,500MW by 2035, up the sales of <a href="https://nepalitimes.com/here-now/nepal-s-journey-to-electric-public-transport">electric public vehicles </a>to 90%, and operate at least 100km of integrated electric bus, trolley and light rail transit in Kathmandu Valley, and build 300km of electric train network.
Read also: <a href="https://nepalitimes.com/here-now/the-public-in-public-transport">The public in public transport</a>, Sonia Awale
These are lofty promises at a time when the government's next budget has a huge revenue shortfall, and the Ministry of Finance is expected to increase taxes on <a href="https://nepalitimes.com/here-now/evs-hybrids-and-plug-ins?%2F">battery-operated vehicles</a> which have seen a huge increase due to past rebates.
“<a href="https://nepalitimes.com/opinion/guest-editorial/act-now-on-climate">Climate change </a>has become political, big emitters aren’t even respecting <a href="https://nepalitimes.com/news/combining-ipcc-targets-with-sdgs">global targets</a>. So it is very unlikely they are listening to us,” says water expert Madhukar Upadhyay. “Nepal just does not have the political stature to push global commitments. But we could have narrowed the focus and taken the lead on regional action.”&nbsp;
The World Meteorological Organisation (WMO) has predicted above-normal rainfall and temperatures for South Asia for <a href="https://nepalitimes.com/here-now/before-the-next-monsoon">monsoon</a> 2025. Pre-monsoon rains this year are above normal and could be a sign of things to come.&nbsp;
“Rainfall patterns have changed, they are shorter, have higher intensity and are localised. Mudslides are now a big problem,” says Upadhyay. “We need specific intervention for specific places, taking into account geological and other factors to increase <a href="https://nepalitimes.com/banner/on-high-monsoon-alert-in-nepal">preparedness</a>.”
Too much water is a problem, but so is too little. Nepal has suffered chronic <a href="https://nepalitimes.com/news/nepal-suffers-another-winter-drought">winter drought</a>, causing natural springs to go dry — affecting food security and pushing outmigration.&nbsp;
The Climate Impact Survey 2022 put droughts as the number one <a href="https://nepalitimes.com/multimedia/climate-change-hits-himalayan-rice?%2F">climate concern</a> of most Nepalis, but it barely got a mention in the plush conference hall this week. <a href="https://nepalitimes.com/here-now/how-transboundary-haze-affects-nepal">Transboundary pollution</a> and black carbon deposition accelerating <a href="https://nepalitimes.com/here-now/nepal-s-mountains-are-melting">glacier melting </a>also could have done with more attention.
One key proposal at Sagarmatha Sambaad was to establish a climate fund for <a href="https://nepalitimes.com/news/from-the-north-pole-to-the-third-pole">Himalayan nations</a>. But given the geopolitical tensions after the <a href="https://nepalitimes.com/editorial/nukes-in-the-neighbourhood">India-Pakistan conflict</a> this month, and the suspension of the Indus Water Treaty, this is even less likely.
Says Arjun Dhakal: “The dialogue could have been more impactful if we had taken concrete steps to set up the Himalayan climate fund instead of just proposing it.”&nbsp;
Read also: <a href="https://nepalitimes.com/banner/climate-change-is-a-disaster-in-the-nepal-himalaya">Climate change is a disaster in the Nepal Himalaya</a>, Sonam Choekyi Lama
The next round of Sagarmatha Sambaad is planned for 2027, and if present warming trends continue, global average temperature will have exceeded 1.6°C above pre-industrial levels. And experts say the Himalaya warms 0.7°C above the global average — making <a href="https://nepalitimes.com/banner/global-heating-melts-mountains">glaciers of High Asia melt</a> even more rapidly.&nbsp;
Of the estimated $400 billion annually required for loss and damage, only $768.4 million has been pledged to the Fund for Responding to Loss and Damage (FRLD) since the operationalisation of the Loss and Damage Fund during COP28. Even then, only $321 million has been paid into the FRLD.
The <a href="https://nepalitimes.com/banner/blueprint-for-a-net-zero-nepal">efforts to reduce emissions</a> have declined globally in recent times, regardless of advancement in <a href="https://nepalitimes.com/opinion/nepal-can-lead-in-zero-carbon">clean energy transition</a>, and some say as the developing world forms its climate action entirely around climate financing, they will also lose their moral ground when advocating for reducing emissions.
“We are running out of time, we cannot keep waiting for the loss and damage fund,” says Upadhyay. “Nepal’s own upcoming budget can do much for <a href="https://nepalitimes.com/opinion/how-nepal-can-finance-climate-action?mibextid=Zxz2cZ">climate action</a> if we prioritise emission reduction and preparedness.”

Sonia Awale

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Himalayan meltdown

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52a49c7e80680e052308jpeg.jpg" alt="" width="2592" height="848"/><figcaption>Gabions above Chukung with the summit of Lhotse peeking through the clouds last month. All photos: ALTON C BYERS</figcaption></figure>In an example of local people adapting to the <a href="https://www.nepalitimes.com/banner/a-terrifying-assessment-of-himalayan-melting/">climate crisis</a> with little outside help, the people of <a href="https://www.nepalitimes.com/banner/on-thin-ice-in-the-khumbu/">Nepal’s Khumbu region</a> are building embankments to protect themselves from increasingly frequent floods coming out of melting glaciers upstream.While major glacial lake outburst floods (GLOFs) that destroy infrastructure get a lot of press, these local initiatives in remote and high altitude locations do not get much attention.While on a field survey of the impacts of the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=011870630917993763279:opm7uqsat-4&amp;q=https://www.nepalitimes.com/here-now/on-everest-4-years-after-the-nepal-earthquake/&amp;sa=U&amp;ved=2ahUKEwjYya7W_efjAhUJinAKHZLsAcsQFjABegQIDxAC&amp;usg=AOvVaw0h7aKRfWj4B_kVdyZ1-PZZ">25 April and 12 May 2015 earthquakes</a> on three of Nepal’s potentially dangerous glacial lakes — <a href="https://digitalcommons.macalester.edu/cgi/viewcontent.cgi?article=2306&amp;context=himalaya">Imja, Tso Rolpa and Thulagi</a> – local lodge owners in Chukhung village (4,730m) talked of a mysterious flood from the <a href="http://archive.nepalitimes.com/news.php?id=16562#.XUYpei0Q0Wo">Lhotse Glacier</a>, immediately upstream, on 25 May that year.The USAID-supported study followed our recently completed High Mountain Adaptation Partnership (HiMAP) program, which worked with communities in the Khumbu and Cordillera Blanca of Peru to develop local adaptation plans of action based on concurrent glacial lake and climate change studies, which were routinely shared with local people.Further investigation revealed that the source of the Lhotse flood was the interior of the glacier itself, now similar to a massive piece of Swiss cheese, with hundreds of water-filled caves in the shrinking and <a href="https://archive.nepalitimes.com/article/nation/ice-to-water-glacier-lake-outburts-himalayas-nepal,4197">rapidly ablating glacier</a>. Many of the caves are linked to surface meltwater ponds that can drain rapidly, in some cases triggering the release of water from dozens of conduits that converge to create a major flood.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52a79c7e80680e052309jpeg.jpg" alt="" width="1000" height="989">Photo: GOOGLE EARTHThe 6m high wave generated by the May 2015 flood destroyed the bridge to Island Peak Base Camp and narrowly missed Chukung. It came in the middle of the night and, combined with the memory of the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=011870630917993763279:opm7uqsat-4&amp;q=https://archive.nepalitimes.com/article/nation/melting-mountains-shake,3073&amp;sa=U&amp;ved=2ahUKEwjh7pL9_efjAhUDk3AKHWsyBAEQFjAIegQIBhAC&amp;usg=AOvVaw2mkMt6PodwsV2PgkTJG1uR">devastating earthquakes</a> the month before, caused widespread panic. Cell phone messages were passed rapidly down the valley.  People from Chukung to Lukla gathered their loved ones and carrying the elderly, ran for higher ground. They feared it might be a massive GLOF from Imja Tsho (5,010m), but in fact it was a smaller flood that impacted only the uppermost settlements.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52aa9c7e80680e05230ajpeg.jpg" alt="" width="1500" height="1125"><figcaption> </figcaption></figure><figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52ad9c7e80680e05230bjpeg.jpg" alt="" width="1500" height="1125"><figcaption> </figcaption></figure>After the flood, local volunteers in the Khumbu Alpine Conservation Committee decided to begin building a dozen or more gabions, or rock-filled wire cages, immediately next to Chukung, on its southernmost side.A year later, on 12 June 2016, <a href="http://www.crwr.utexas.edu/video/Lhotse_Flood_Supplement_V3.mp4">a second and larger conduit flood</a> from Lhotse occurred, this time headed directly for Chukung. But the flood waters were successfully diverted by the gabions built the year before, resulting in only minor flooding of several lodge courtyards immediately next to the river.  Armed with the knowledge of their successful action, the community continued to devote its resources to construct more gabion walls along the glacial streams that run on the north and south sides of the settlement.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52b09c7e80680e05230cjpeg.jpg" alt="" width="1826" height="507"><figcaption> </figcaption></figure>Yet another englacial conduit flood from the Lhotse Nup Glacier occurred a few weeks ago. Once again, there was minimal damage to the village thanks to the new gabions.With support from the Nepal Mountaineering Association, the Buffer Zone Council, local municipal government and their own resources, villagers have been able to fund and use effective local technology in response to what appears to be a new era of fairly routine flooding from the glaciers.Such phenomena <a href="http://archive.nepalitimes.com/news.php?id=16563#.XUYqJS0Q0Wo">have occurred for decades</a>, but never with the apparently increasing frequency of the past 10-15 years. Chukung probably should never have been built next to a vulnerable flood plain, but when most of the lodges were constructed 20 years ago, <a href="http://archive.nepalitimes.com/article/nation/melting-mountains-shake,3073">glacier floods</a> happened only every 30-60 years, not every year.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52b39c7e80680e05230djpeg.jpg" alt="" width="980" height="735"><figcaption> </figcaption></figure><figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52b69c7e80680e05230ejpeg.jpg" alt="" width="979" height="733"><figcaption> </figcaption></figure><figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52b89c7e80680e05230fjpeg.jpg" alt="" width="960" height="716"><figcaption> </figcaption></figure>Such floods were so infrequent that in the mid-1950s, glaciologist Fritz Müller was nearly kicked out of the Khumbu by villagers angered over a large flood, most likely from Lhotse Nup Glacier, which destroyed half of Chukung’s grazing land as well as the prayer wheel ghatta at Phunki. They felt Müller had angered the gods by his research activities on the Khumbu glacier.Fortunately, the then 14-year-old abbot of Tengboche Monastery, the Venerable Ngawang Tenzing Zangpo Rinpoche, intervened on Müller’s behalf and all was forgiven. These days glacier floods happen nearly every year, but they rarely make the national news since they are so much smaller than the major GLOFs that destroy downstream infrastructure, they occur in high and remote locations, and sometimes escape the notice of even local people.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52bb9c7e80680e052310jpeg.jpg" alt="" width="594" height="404"><figcaption> </figcaption></figure>The climate change adaptation demonstrated by Chukung has yet to make global news, but it is one more example of how Himalayan people themselves, with little or no help from the outside, are quietly <a href="https://www.nepalitimes.com/banner/weather-warning-for-climate-meeting/">adapting to the impacts of climate change</a> in real and effective ways.Bridges are being built higher to cope with more frequent and higher floods. Lodges and new infrastructure are built well above floodplains that until recently were considered to be safe. Many gabions are being built along river banks that only 10 years ago had none.And life in the high Himalaya goes on.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108131156/636a52bd9c7e80680e052311jpeg.jpg" alt="" width="501" height="376"><figcaption> </figcaption></figure>Alton C Byers, PhD, is Senior Research Associate and Faculty at the Institute of Arctic and Alpine Research (INSTAAR), University of Colorado at Boulder, in the US.

Living below Nepal’s melting mountains

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

Visit Nepal in the monsoon

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

Nepal’s bubble economy

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

Flouting rules caused Saurya tragedy

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

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Walking, working, worshipping in Patan