<figure><img width="640" height="399" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161144/636d1d229c7e80680e0af397jpeg.jpg" alt=""/><figcaption></figcaption></figure>The latest edition of Nepal’s <a href="https://www.nepalitimes.com/banner/how-many-tigers-in-nepal/" target="_blank" rel="noopener noreferrer">tiger census</a> began on Sunday in which 300 enumerators will span out across Parsa, Bardia, Banke, Chitwan and Shuklaphanta National Parks to record <a href="https://www.nepalitimes.com/here-now/tigers-move-up-the-himalaya/" target="_blank" rel="noopener noreferrer">the big cat population</a> in the country.
The Tiger census begins just after Nepal finished counting its human population. The Department of National Parks and Wildlife Conservation (DNPWC) will release the figure on World Tiger Day on 29 July. In 2018, the total number of <a href="https://www.nepalitimes.com/latest/nepal-tigers-now-number-235/" target="_blank" rel="noopener noreferrer">wild tigers in the country was 235</a>.
For the census, Chitwan-Parsa region has been considered as one area, which is divided into three blocks. Banke-Bardia as the second area has been divided into four blocks. Shuklaphanta and Laljandi have been categorised as the third.
A grid of two kilometres in length and one in width will be constructed in the divided block. The three blocks of Chitwan Parsa have been divided into 1,924 grids. These grids are equipped with automatic cameras to capture tiger activity.
“We’ve made such arrangements that the tigers for certain will cross the path with our camera traps,” says Director General of DNPWC Ram Chandra Kandel. “We will then calculate the figure by analysing all the <a href="https://www.nepalitimes.com/latest/nepals-highest-ever-tiger-sighting/" target="_blank" rel="noopener noreferrer">tigers captured by the camera</a>.”
Some 3,000 camera trap pictures will be taken throughout the survey, which will then be analysed by trained technicians. While there is a possibility of the same tiger being photographed repeatedly, two big cats can be told apart by the length of their fur, which is different for each individual. Before the year 2000, tigers used to be counted as per their steps.
Nepal is an international model for tiger conservation and the first country to double the population of its big cats following the Tiger Conference in Petersburg, Russia in 2009. It is expected to record the highest numbers of tigers in the country yet.
The Nepal government first started the census in 1995, back when there were only 98 of them. In 2018, the country recorded 235 tigers, up from 121 in 2009. Chitwan National Park has the most number of mammals at 93, closely followed by 87 in Bardia. There are 21 more in Banke, 18 in Parsa and 16 in Shuklaphanta, according to the last survey.
Of late, there have been <a href="https://www.nepalitimes.com/latest/tiger-selfie-is-highest-ever-sighting-in-nepal/" target="_blank" rel="noopener noreferrer">more frequent sightings of big cats</a> also at higher elevations. In April 2020, a Royal Bengal Tiger was sighted at 2,500m in Dadeldhura. This was followed up by another sighting, this time at 3,165m, in the forest of Ilam.
But conservation successes have also brought about challenges. Protected areas are now overcrowded with predators compared to their prey density. This is driving tigers and other mammals outside forests in search of food, in turn leading to an increase in human-animal conflicts. 
Increased human-animal conflict threatens social harmony and endangers hard achieved past gains in conservation. 
But wildlife-friendly infrastructure such as overpass and underpass have shown to significantly reduce human-animal conflicts in Nepal, so has better management of protected areas including transplantation of animals taking into consideration predator-prey ratio and plant species of the location. 
Read also:
<a href="http://archive.nepalitimes.com/news.php?id=16820#.Ya16_cFBzOS">Back to jungle</a>, Nirmal Ghosh
<a href="https://www.nepalitimes.com/opinion/sun-striped-shadows/">Sun striped shadows</a>, Lisa Choegyal

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Nepal counting its tigers

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111156/636cd92a9c7e80680e092e85jpeg.jpg" alt="" width="1500" height="835"/><figcaption>The new bridge over the Mahakali River currently under construction will join Far West Nepal with the North Indian status of Uttar Pradesh, Uttarakhand, Punjab, Haryana and New Delhi.</figcaption></figure>The <a href="https://www.nepalitimes.com/here-now/epicentre-of-two-disasters-in-west-nepal/" target="_blank" rel="noopener noreferrer">far-west has been neglected</a> by the rest of Nepal for centuries, but it is brimming with potential for socio-economic transformation.The reason it has always been seen as a periphery by Kathmandu has been its remoteness. It is a five hour drive to New Delhi from Dhangadi, but it takes at least 12 hours to get to Kathmandu.The devolution of political power under Nepal’s federal Constitution, and new connectivity are rapidly changing the face of the <a href="http://archive.nepalitimes.com/article/book-review/review-nepal-wild-west,486" target="_blank" rel="noopener noreferrer">Far-Western Province</a> and opened up possibilities for the province to not just catch up with the rest of the country, but even overtake it.The region is filled with natural and human resources. Federalism has enabled local municipalities and provincial government of these nine district to use their own resources for self-determined development priorities.A new bridge over the Mahakali River is under construction and will soon replace the old single lane Tanakpur Barrage as the economic lifeline for the <a href="https://www.nepalitimes.com/here-now/nepals-superwomen-beat-superstition/" target="_blank" rel="noopener noreferrer">Far-Western Province</a> by joining it with the north Indian states of Uttar Pradesh, Uttarakhand, Punjab, Haryana and New Delhi. There is a new dry port under construction.The bridge will not just help transform far-west Nepal, but the rest of the country as well when it is finished in two years. Perhaps then, this region cannot be referred to as ‘backward’ or ‘under-developed’ anymore.“In terms of connectivity, this bridge will be a game-changer,” journalist Surendra Phuyal tells the Saglo Samajtv magazine. He points to how the inauguration of the Karnali Bridge also similarly joined the far-west to the rest of the Nepal 27 years ago. Before that, people from far-western Nepal had to travel through India to go to other parts of Nepal.https://youtu.be/UC-Al3hwthUWhile the Karnali Bridge immediately brought the far-west closer to the rest of Nepal, the new Mahakali Bridge will bring the increasingly affluent industrial and agricultural regions of north India closer to Nepal, allowing the easier flow of people and trade.This means Nepal will now be much more accessible to the 200 million people in India who live within a 5 hour driving distance from Dhangadi or Mahendranagar. Many of them are young Indians looking for new <a href="https://www.nepalitimes.com/here-now/on-the-road-in-west-nepal/" target="_blank" rel="noopener noreferrer">unspoilt destinations</a> to go on holidays or pilgrimage. Many are tired of the overcrowded hill stations of Nanital, Ranikhet, Mussourie in India.Better connectivity can therefore have an immediate impact on tourism if the facilities and infrastructure on the Nepal side can be improved. This in turn, will bring tourism income to the rural far-west reducing the push-factor driving its people to migrate out.Many of the destinations in the far-west and adjacent Karnali are pristine wilderness areas: <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/The-Holy-Link,3153" target="_blank" rel="noopener noreferrer">Khaptad</a> and <a href="https://www.nepalitimes.com/banner/raras-rare-beauty/" target="_blank" rel="noopener noreferrer">Rara</a> National Parks, Badimalika, Api Saipal Conservation Area. These are all scenic unspoilt wilderness areas with their own religious significance that can be a draw for Indian as well as domestic Nepali tourists.In addition, there are the Sukla Phanta Wildlife Reserve and the Bardia and Banke National Park in Karnali Province. Says nature guide Kum Thakur at Sukla Phanta: “This area is famous the world over for the Barasingheswamp deer, tiger, rhino and rich birdlife. Despite Sukla Phanta’s smaller size compared to other national parks in Nepal, the reserve’s mix of wetland, jungle and vast grasslands give it a higher density of wildlife.”<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111156/636cd92d9c7e80680e092e86jpeg.jpg" alt="" width="1618" height="1000"><figcaption> </figcaption></figure>North India’s most prosperous areas near Delhi is within a few hours driving distance. Can benefit from tourism from these areas. Increasingly affluent. They are looking for new unspoint destinations. “Chalo Sudur Paschim Pradesh”.Bed Upreti, an airline captain with Air India, who has set up the Mahendranagar Museum says:  “I see huge untapped potential for tourism if the far-west is promoted adequately as a destination. For this, we have to reduce the distance by improving connectivity to the destinations like Khaptad. Whenever I fly over Far-Western Nepal I feel like it is a gold mine for tourism.”Meanwhile, federalism has brought new hope that the <a href="http://archive.nepalitimes.com/news.php?id=18055#.YFlzKy2B0b0" target="_blank" rel="noopener noreferrer">Far-Western Province</a> can benefit from devolution, and not have to depend on faraway Kathmandu for everything.“We used to have to go to Kathmandu for the movement, now with the province, we can solve our own problems,” says Yagyaraj Chaudhari, a Tharu social activist.Chaudhari says there is residual tension in Far-Western Province between the <a href="https://www.nepalitimes.com/here-now/5-myths-about-the-tharu/" target="_blank" rel="noopener noreferrer">indigenous Tharu community</a> of the plains and the mountain settlers. It goes back to the history of trans-location of villagers from the mountain districts to the Tarai during the reign of King Mahendra in the 1960s. This has been exacerbated by instance of violence like the massacre of policemen in Tikapur six years ago, and the continued imprisonment of Tharu leader and MP, Resham Chaudhari.“There is simmering anger among the Tharu because of this, and it is also fed by their under-representation in proportion to the population in government jobs,” says Chaudhari. “Inclusion will address the discrimination, but also help uplift living standards of the Tharu people. Road are important, but even more important is affordable health care and education for our people.”<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111156/636cd9309c7e80680e092e87jpeg.jpg" alt="" width="1500" height="1000"><figcaption> </figcaption></figure>With Province 2, the Far-West is possibly the only other province with a distinct identity. For the people of this far-flung region that identity stems from the common sense of neglect by the rest of the country.“What unites the people of Far-Western Province both in the mountains and the plains is that there has been no development here,” says businessman and media entrepreneur Gopal Hamal. “It is our economic weakness that united us, it fostered a sense of solidarity.”He says the priority is to address the i<a href="https://www.nepalitimes.com/opinion/displacement-and-defiance/" target="_blank" rel="noopener noreferrer">njustice that the Tharu have suffered</a> and to address their grievances. He says, “Earlier, it was the settlers from the mountains who mistreated the Tharu, and took their land. Now, despite the Constitution, it is the state that is the oppressor. We have to solve this before it takes a explosive turn.”Although this is not the kind of ethnic identity that the <a href="https://www.google.com/url?client=internal-element-cse&amp;cx=011870630917993763279:opm7uqsat-4&amp;q=https://www.nepalitimes.com/here-now/mr-province-2/&amp;sa=U&amp;ved=2ahUKEwjk-qyvz8XvAhV3umMGHU1gDaMQFjABegQIBxAC&amp;usg=AOvVaw3E_Or9W8x0qHg_9ezNado2" target="_blank" rel="noopener noreferrer">Madhesi community of Province 2</a> feel, the people of the Far-West feel they share the feeling of being abandoned by the central government for so long.Says Hemraj Panta, who was chief of Kailali Campus and a rector at Sudur Paschim University: “Culturally, the Khas identity and the Tharu identity in the plains give us a distinctness, but perhaps the Far-West has more of a cohesiveness compared to other provinces.”Most interviewees in Mahendranagar and Dhangadi agree that domestic tourism and visitors from India can be a catalyst for economic growth for the Far-Western Province. Just as the neighbouring Indian state of Uttarakhand has the Char Dham Yatra pilgrimage tourism, the province can also promote its shrines and pilgrimage spots that are common to Hindus in Nepal and India.One attraction could be sight-seeing flights from Dhangadi airport for Indian tourists to see <a href="https://www.nepalitimes.com/banner/faith-to-reality/" target="_blank" rel="noopener noreferrer">Mansarovar and Mt Kailash</a> from the air, or even Dhaulagiri, Annapurna and Mt Everest.“If one local government promotes one destination, one district identifies one attraction, and the province promotes itself as Sundar Sudur Paschim, we can lift the rural economy,” says Hamal. “The youth will then have jobs and this will reverse outmigration.”

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The sun rises in Nepal’s Far West

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

Nepal is graduating to become a developing country on 24 November 2026 after half-century in the Least Developed Country (LDC) category. By 2030, the country hopes to transition to middle-income status.&nbsp; Everone from Prime Minister K P Oli have boasted that this is a matter of national pride, and will have a multiplier impact on trade and economy.&nbsp; But will it make any difference to the average Nepali? Not unless improved governance <a href="https://nepalitimes.com/news/why-invest-in-nepal">spurs investment and creates jobs</a>.&nbsp; Countries need to meet at least two of the three criteria in two consecutive triennial reviews to be eligible for graduation from LDC. Nepal has consistently met the thresholds for the Human Assets Index (HAI) and the Economic and Environmental Vulnerability Index (EVI) in 2015, 2018, and 2021. But Nepal was recommended for graduation before meeting the per capita <a href="https://nepalitimes.com/banner/nepals-great-income-divide">Gross National Income (GNI)</a> threshold of $1,306. “A major implication of LDC graduation is the loss of preferential market access available through Generalised System of Preferences (GSP) and other arrangements,” explains economist Sameer Khatiwada. “But over two-thirds of <a href="https://nepalitimes.com/news/nepal-doesnt-produce-its-2-biggest-export-items">Nepal’s exports</a> are to India, and the preferential market access to India is through a bilateral trade agreement. This has nothing to do with our LDC status.”  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250815060832_f5eabe7628a8cdf84f33b25d7cef3c4dc8913a26d8e5b253ea52a36e176b8a85.jpg" data-media-id="editor_3" data-image-id="20250815060832_f5eabe7628a8cdf84f33b25d7cef3c4dc8913a26d8e5b253ea52a36e176b8a85" data-rendition-name="original" width="640" height="470" loading="lazy" alt="LDC graduation "> </figure>  Furthermore, a provision under the South Asian Free Trade Area (SAFTA) allows Nepal to export to India duty-free if the items are at least 30% value-added. Nepali traders take advantage of this by re-exporting edible oils without meeting that requirement, falsely boosting Nepal’s exports.“ Following graduation from LDC, the value addition threshold might increase to 40%,” says Kalpana Khanal of the Policy Research Institute. “This is supposed to work to our advantage, because on paper value addition inherently means <a href="https://nepalitimes.com/multimedia/staying-home-to-create-jobs">job creation at home</a>.” But Nepal’s exports to other major destinations will face <a href="https://nepalitimes.com/news/nepal-and-the-us-india-tariff-tiff">tariff increases</a> with the graduation. A South Asia Watch on Trade, Economics and Environment (SWATEE) study shows that while tariff increase in the US market is relatively low (see page 5) it is considerably higher in Europe. The International Trade Centre (ITC) in a 2022 study also estimated that graduation could result in a 4.3% decline in Nepal’s projected exports, but this is excluding the impact of changes in ‘rules of origin’ provisions in preference-granting countries such as the UK and Europe.&nbsp; Nepal’s top export to these preference-granting countries is <a href="https://archive.nepalitimes.com/news.php?id=1482">carpets</a>, and will not be impacted, but other items such as textiles and apparel will be heavily affected due to higher cost of production. The impact will felt mostly by small and medium enterprises which represent the largest share of exports to LDC-specific preference-granting countries. As for the service exports, Nepal never really made use of the World Trade Organization’s LDC services waiver anyway, hence the effect will be minimal, if any. There is also concern about Nepal’s graduation at a time when the global economy is topsy-turvy, amidst <a href="https://nepalitimes.com/opinion/turning-point-in-us-india-relations">tariff wars and conflicts</a>. This affects Nepalis abroad directly and may impact <a href="https://nepalitimes.com/news/more-remittance-more-than-remittance">remittances </a>which hit $11 billion in 2024. In comparison, Nepal only received $350 million in foreign loans and grants last year.&nbsp; Tourism arrivals have finally reached pre-pandemic levels, but bad publicity about pollution, poor infrastructure and bureaucratic hurdles hinder further growth. Manufacturing continues to struggle, while hydropower and the IT sector have taken off.&nbsp; “Look at data -- <a href="https://nepalitimes.com/news/tourism-needs-a-new-push">tourism arrivals</a> are up, spending is up, IT exports are up, <a href="https://nepalitimes.com/news/why-nepal-needs-to-restore-ev-tax-subsidy">EV sales </a>are up, Europe still needs 85-90 million skilled workers. We are sitting on $16 billion in cash reserves, our balance of payment, foreign exchange reserve, tax to GDP ratio, credit flow are all positive, we have to build on these factors,” says Sujeev Shakya of the Nepal Economic Forum. He adds: “Our mindset creates negativity to promote rent-seeking behaviour, but this cynicism will go away after 2026 with LDC graduation. We must deal with data, look at trends, and projects which will bring in <a href="https://nepalitimes.com/from-the-nepali-press/why-there-is-no-foreign-investment-in-nepal">international investments</a>.” Khanal agrees that investment is not dependent on<a href="https://archive.nepalitimes.com/regular-columns/backside/Nepal-not-the-least-developed-country,306"> LDC status</a>. The factors that that affect investment are policy stability, a strong legal framework, market potential and ease of doing business. She adds, “That is where our focus needs to be, and we need to retain <a href="https://nepalitimes.com/diaspora-diaries/migrant-worker-returns-to-create-work-at-home?fbclid=IwAR09xJfsClCwn8uRVAmz28CU658vdKpuyDwB_b1sNlvKtAFFnSldnA0JS2g">Nepalis with jobs at home</a> for our sustained growth.” After 2026, financing support from donors and aid agencies could be affected and Nepal will no longer be able to access Least Developed Countries Fund (LDCF) to adapt to the impacts of climate change. But the Global Environment Fund and Green Climate Fund will still be available.“ LDC status does not determine bilateral development aid, that is usually driven by broader <a href="https://nepalitimes.com/here-now/looking-beyond-two-boulders">geopolitical considerations</a>,” says Sameer Khatiwada. “The World Bank and Asian Development Bank, which provide concessional loans to Nepal, it is determined mainly by per capita income, not LDC status.” &nbsp;However, Nepal may lose some concessional terms for loans. Nepal is currently a lower-middle-income country as per the World Bank in the bracket for GNI between $1,036 and $4,045. The country is already receiving more loans than grants and in July the World Bank increased its interest rate on loans by 100% from 0.75 to 1.5%. “All this means that the impact of LDC graduation for Nepal might not be as earth-shattering as some tend to think. Countries that have recently graduated, such as Botswana and the Maldives, have shows that graduation is just a step in a country’s development path,” says Khatiwada. Sujeev Shakya also sees the glass as half full, explaining that LDC graduation is just a stepping stone if Nepal has the right policies in place. He adds, “Nepal’s biggest advantage is our<a href="https://nepalitimes.com/opinion/investing-in-people"> working age population</a> and we have investments coming in. These aided by how adaptive we are as a society are the very foundations on which Nepal will grow.”

Not poor, but not rich

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

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

shuklaphanta

Nepal counting its tigers

The sun rises in Nepal’s Far West

Visit Nepal in the monsoon

Not poor, but not rich

Nepal’s bubble economy

Walking, working, worshipping in Patan