<figure><img width="1200" height="800" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410110/637204749c7e80680e0b2862jpeg.jpg" alt=""/><figcaption>Picture of Astaman Maharjan in Ananda Niketan</figcaption></figure>Ten years ago, Patan’s Astaman Maharjan donated a plot of land in a prime location and Rs5 million to build an old age home. Even though the devout Astaman did not live long enough to see his project completed, the facility now cares for the elderly who have been foresaken by the state and have no family. As a devotee of Shiva, Astaman used to visit Pashupatinath every Monday. There, he would see the condition of older people in the premises of the temple and would be disheartened by their <a href="http://archive.nepalitimes.com/news.php?id=19664#.YeQRvi2B3-Y">miserable living conditions</a>. Astaman made it his life’s goal to build a proper home for the elderly, where they would have friends, proper meals and comfortable rooms. But he did not know where to start. <img width="1920" height="1046" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410110/637204779c7e80680e0b2863jpeg.jpg" alt="">It was at a community picnic in 2012, that Astaman Maharjan suddenly and without consulting anyone, announced that he would donate land and money to the Jyapu Samaj Yala to build a home for the elderly. In February 2013, the foundation stone was laid and construction began for the ‘Jyapu Samaj Senior Citizen Ananda Niketan’.  Read also: <a href="http://archive.nepalitimes.com/news.php?id=19664#.YeQg9VIzbjA">Giving up on grannies</a>, Dambar Krishna Shrestha“It was his one big wish, and he would visit the construction site very day to supervise,” says Maharjan’s son Kiran. “Wherever he is, he will be happy that his project is finished.”Such was Astaman’s dedication that he was closely involved with every aspect of the structure and facilities, trying to make sure that the elderly who would one day live there would be comfortable.  <img width="1913" height="1065" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410110/6372047a9c7e80680e0b2864jpeg.jpg" alt="">The construction faced many delays, with <a href="https://www.nepalitimes.com/editorial/lessons-still-not-learnt/">the earthquake</a>, Blockade in 2015 and then the <a href="https://www.nepalitimes.com/here-now/3rd-wave-in-2-years/">Covid-19 pandemic</a>, during which Astaman himself succumbed to double kidney failure at the age of 77. However, with the money he left behind, the Jyapu Samaj of Patan completed the project.The Ananda Niketan building will start operating from next month and provide shelter for at least 110 senior citizens. “It is sad that Astaman couldn’t see the completion of the building, but he has set an example and we hope his generosity will motivate others to bring real change in the society,” says Bal Krishna Maharjan of the Jyapu Samaj. <img width="1920" height="1080" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410110/6372047d9c7e80680e0b2865jpeg.jpg" alt="">Despite the donation from the Maharjan family including the land in Bagdol which would be worth Rs80 million today, the project needed more financial support for completion. Several organisations and individuals stepped up after learning about Astaman’s generosity. The Indian Embassy donated Rs100 million, Bagmati provincial government provided another Rs30 million and Lalitpur Metropolitan Office chipped in Rs10 million. Members of Jyapu Samaj Yala, which has membership in 40 neighbourhoods in Lalitpur also made significant contributions.  <img width="1920" height="1080" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410114/637204819c7e80680e0b2866jpeg.jpg" alt="">The building itself is seismic resistant and can accommodate at least 110 elderly people. It has a hall for morning hymns, yoga and meditation, there is a library, guest rooms and a specialised canteen. The five-storey building made with traditional dachi appa bricks is surrounded by the garden, has elevators and is disabled friendly. Senior citizens can live here free of cost and there are different arrangements also for those willing to pay. It also has a clinic with an around-the-clock medical team as well as its own ambulance.Ananda Niketan also has a daycare facility such that throughout the day when their children are working, the elderly can enjoy the amenities at the facility and participate in interactive activities. The home also provides transportation services.“He is an inspiration for all of us,” says Kiran of his late father. “We don’t get to take anything with us when we die, so we should leave our possessions for the betterment of society.”  <img width="1920" height="1080" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410114/637204849c7e80680e0b2867jpeg.jpg" alt="">The average lifespan of Nepalis has increased from just 40 in 1970 to 72 today, and this demographic shift is leading to <a href="http://archive.nepalitimes.com/article/Nepali-Times-Buzz/need-to-prepare-for-ageing-society,3624">greater population of elderly</a>. About 12 working-age Nepalis support one senior citizen, and this ratio is set to drop to 5.6 by 2050. As early as 2028, Nepal will be an ‘aging society’ where 7% of its population will be above 65.Read also: <a href="http://archive.nepalitimes.com/article/Nepali-Times-Buzz/need-to-prepare-for-ageing-society,3624">A much older tomorrow</a>, Sonia AwaleThe Nepali state and society therefore needs to be better prepared to support and engage senior citizens. This means younger people and children today should be more productive, and the government must be prepared to outlay more for <a href="https://archive.nepalitimes.com/regular-columns/guest-editorial/guest-editorial-old-is-gold,876">geriatric care</a>.This has led to a proliferation in the number of old age homes across Nepal. This has become more widespread also because of younger people living abroad either for work or study, leaving parents without the support in their old age. <img width="1919" height="1065" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022111410114/637204879c7e80680e0b2868jpeg.jpg" alt="">This is where initiatives like Ananda Niketan make a big difference, and the management of the home is getting queries from older Nepalis living abroad who want to be provided with better care in their advanced age instead of living alone. Says Bal Krishna Maharjan of Jyapu Samaj: “The elderly can live here in peace with minimal discomfort in the latter part of their lives. This is the legacy Astaman Maharjan left behind and what he will be remembered for.” Read also: <a href="https://archive.nepalitimes.com/news.php?id=19055#.YeQg9lIzbjA">Orphaned at old age</a>, Paavan Mathema

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Home sweet home for older Nepalis

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1d209c7e80680e0af396jpeg.jpg" alt="" width="1080" height="810"/>Jyoti Bikash Bank this week distributed warm clothing for the elderly at the Matatirtha Old-Age Home. Assistant General Manager of the Bank Ram Hari Acharya, Kathmandu Valley Regional Office Chief Dilip Raj Baral and Branch Manager of Balambu Prakash Shrestha were present.

Jyoti for the elderly

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109151116/636bb6929c7e80680e07bc6djpeg.jpg" alt="" width="1179" height="530"/><figcaption>In the next four decades, half of Japan’s population will be above 65. Last year, Japan signed an agreement with multiple countries, including Nepal, to supply 60,000 caregivers. Photo: Yoshi Shimizu WHO</figcaption></figure>The world’s 65+ population is growing faster than all other age groups, and by 2050, one in six people globally are going to be older than 65, compared to 1 in 11 in 2019. <a href="http://archive.nepalitimes.com/article/Nepali-Times-Buzz/need-to-prepare-for-ageing-society,3624" data-saferedirecturl="https://www.google.com/url?q=http://archive.nepalitimes.com/article/Nepali-Times-Buzz/need-to-prepare-for-ageing-society,3624&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNEabSnnkGb5IbR5p3GtvU3cVlQuZQ">Nepal itself is ageing fast</a> even as overseas demand continues to grow for Nepali migrant geriatric caregivers.Even before the current health crisis, the care sector was already facing critical shortages worldwide. The OECD estimates that maintaining the current ratio of 5 workers for every 100 individuals above 65 will itself require 13.5 million more caregivers.As the deaths from Covid-19 worldwide exceeds 1 million, the pandemic has drawn attention to the lackluster situation of elderly care, inadequate staff, PPEs, high turnovers, and with a big share of Covid-19 deaths taking place in old age homes.There are signs that the demand for geriatric caregivers globally is on the rise. <a href="https://www.nepalitimes.com/here-now/demand-grows-for-nepali-caregivers-in-israel/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/here-now/demand-grows-for-nepali-caregivers-in-israel/&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNF6WWp9wdRH7BRrD_IJhBMYEI3UGA">A bilateral labour agreement between Israel and Nepal</a> to hire 500 more caregivers in the midst of the pandemic is expected to be signed soon. But even as Nepal mobilises frontline workers to help countries fight Covid-19, tens of thousands of current migrants languish overseas.Even traditionally closed countries which are concerned about social cohesion are now being forced to relax their admission policies for caregivers. Japan stands out as a striking example: 28% of its population is already 65, and this will increase to 50% in the next 40 years. The country hosts over 80,000 centenarians.The worker shortage, including in the care sector, led to a bilateral agreement between Japan and Nepal in March 2019 to mobilise workers under the Specified Skilled Workers (SSW) visa category. Japan is expected to hire over 300,000 workers over the next five years from <a href="http://archive.nepalitimes.com/article/nation/nepalis-from-chitwan-to-chidoya,4110" data-saferedirecturl="https://www.google.com/url?q=http://archive.nepalitimes.com/article/nation/nepalis-from-chitwan-to-chidoya,4110&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNEQH1vGMZQFVLvY3-ti7Y4ZdClTOQ">several countries including Nepal</a>, which includes a quota for 60,000 care workers.But so far Nepal has not mobilised a single workers, and the SSW program itself has got off to a shaky start, meeting less than 10% of its target of recruiting over 47,000 foreign workers in fiscal year 2019.Even in the midst of the pandemic, Nepali migrants are re-migrating. Such is the desperation to provide for families, despite knowing the risks. But for many, remittance is the difference between being poor versus non-poor.<a href="http://archive.nepalitimes.com/article/Nepali-Times-Buzz/need-to-prepare-for-ageing-society,3624">A much older tomorrow</a>, Sonia AwaleEmigration of caregivers as the health crisis rages on seems counterintuitive. But we know from experience that restrictive policies fail.  When Israel banned Nepali caregivers in 2012, they chose to travel irregularly through India, paying exorbitant fees.<a href="https://thediplomat.com/2020/09/filipino-health-workers-protest-overseas-work-restrictions/">When the Philippines banned emigration of health workers during Covid-1</a>9 to ensure that its own health care requirements were fully met, very few took up the domestic job opportunity and pressured the government to release the ban. The response from Filipino Nurses United was: ‘It is a nurse’s right to seek better work opportunities and better pay outside of the country especially if the government cannot give this to us.”Nepal therefore needs a clearer stance on dealing with the increasing global demand for workers in the care economy. Of Nepali migrant workers emigrating overseas annually, only around 10% are women. But demand is rapidly growing in the female dominated care sector across more countries, including OECD members and East Asia.Without a vision on how to better manage migration in the care sector Nepali will continue to resort to irregular travels, allow exorbitant recruitment costs, provide skills training that are not recognised abroad, and let workers invest time and money in admission exams without success.<a href="https://www.nepalitimes.com/here-now/nepali-workers-stuck-in-no-mans-land/">Nepali workers stuck in no man's land</a>, Nepali TimesExperience shows that willingness to pay recruitment costs is higher for attractive destination countries. Nepal needs clear sector-specific policies and bilateral agreements that address the peculiarities of the care economy.All this while the share of <a href="https://archive.nepalitimes.com/regular-columns/guest-editorial/guest-editorial-old-is-gold,876" data-saferedirecturl="https://www.google.com/url?q=https://archive.nepalitimes.com/regular-columns/guest-editorial/guest-editorial-old-is-gold,876&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNFoNW8Q9hgpAUFatmII18Ddjn5vHA">Nepal’s own elderly population is rising</a>. By 2028, Nepal will be an ‘ageing society’ with 7% of the population above 65, and the figure will double by 2054, making Nepal an ‘aged society’. In addition to <a href="https://archive.nepalitimes.com/article/editorial/editorial-reaping-demographic-dividend,3621" data-saferedirecturl="https://www.google.com/url?q=https://archive.nepalitimes.com/article/editorial/editorial-reaping-demographic-dividend,3621&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNFIpeszyDgyJIjF817criKlQyDSUQ">reaping the demographic dividend</a> in the remaining decades, it is also a priority to make the society more <a href="http://archive.nepalitimes.com/news.php?id=19599#.X3K_fsIzaUk" data-saferedirecturl="https://www.google.com/url?q=http://archive.nepalitimes.com/news.php?id%3D19599%23.X3K_fsIzaUk&amp;source=gmail&amp;ust=1601450810052000&amp;usg=AFQjCNEy8Kf5STNLkzUcKg79iQnl_m3JCQ">geriatric friendly</a> for seniors who have additional care needs.With thousands of returnees with experience in the care sector, there is scope to mobilise them. Returnees from Israel report that a platform that would help them engage in collective initiatives in the professional care economy would allow them to use the skills and experiences to make a living in Nepal itself.It is cheaper for employers to invest in training in the origin country especially in healthcare, one of the rationales for <a href="https://www.nepalitimes.com/opinion/changing-the-headlines-on-migration/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/opinion/changing-the-headlines-on-migration/&amp;source=gmail&amp;ust=1601450810053000&amp;usg=AFQjCNHL4dlzSM-qBVPZrdWmmnoGbsmvHA">skills partnerships</a>. Since destination countries like Israel and Japan are also Nepal’s development partners, there is scope to mobilise funds to design mutually beneficial skills training for geriatric care. This would help equip Nepal’s training centers as we transition rapidly into an ageing society.<a href="https://www.nepalitimes.com/business/caring-for-those-who-cared/">Caring for those who care</a>, Sikuma RaiCaregivers in countries like Israel and Japan enjoy equality of treatment with locals in employment, and earn between $1,000-1,500. But there is also illicit migration of other types of care workers such as household help, which is currently banned by the Nepal government.The Israel admission requires at least a high school education as well as completion of language and skills tests. In Japan, foreign caregivers require rigorous computer based language and skills tests. These are not options for most Nepali migrants taking surreptitious travels through India because of the ban, which makes them vulnerable to exploitation.The blanket ban on domestic care workers without addressing the rising international demand or credible alternatives for the women opting this path therefore remains ineffective.There is also support needed for ageing returnees. Yubraj is a second generation Gulf migrant following his father who spent his youth in the Gulf. There is no formal support system, and the father-and-son duo simply <a href="https://www.nepalitimes.com/here-now/from-letters-to-landlines-phones-to-facebook/" data-saferedirecturl="https://www.google.com/url?q=https://www.nepalitimes.com/here-now/from-letters-to-landlines-phones-to-facebook/&amp;source=gmail&amp;ust=1601450810053000&amp;usg=AFQjCNE19sxq1QIX2ieVGaCMpfFYlesBnQ">switched their remittance transfer role</a>.The Nepal government’s policies such as promoting savings or investment of remittances through the Foreign Employment Savings Bond and Remit Hydro have failed to yield results. Countries like the Philippines allow migrants to contribute to their national social security system, and secure a safe future while they are still earning overseas. Nepal needs to explore these options and help current migrants plan for their future.Overseas work outside India, unless they travel irregularly, are formal and contract-based, so the employers can be held responsible to contribute to the social security funds.For example, Malaysia’s Social Security Organization (SOCSO) and Nepal’s Foreign Employment Board are set to sign an agreement providing workers and their dependents a range of benefits, especially related to work related injuries, illness or death. Employers are required to pay 1.25% of monthly wages while workers are not required to contribute.Nepal can easily enter into a similar Social Security Agreement with South Korea under the Employment Permit Scheme (EPS), similar to other EPS member countries like the Philippines that entered into an SSA last year that allow Filipino migrants to refund their social security contributions.<a href="https://nepalitimes.atavist.com/a-much-older-tomorrow" data-saferedirecturl="https://www.google.com/url?q=https://nepalitimes.atavist.com/a-much-older-tomorrow&amp;source=gmail&amp;ust=1601450810053000&amp;usg=AFQjCNGYSiKy9WyRnmNgU3tFMbwNgFOssQ">The future is older</a>, and it is also mobile. In this new demographic era, caring for the elderly is a policy priority in Nepal and globally which has implications on the future of labour mobility management, both for migrants as carers and as elderly returnees.Upasana Khadka writes this column Labour Mobility every month in Nepali Times analysing trends affecting Nepal’s workers abroad.

Upasana Khadka

The future is older

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