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.”

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Nepal’s bubble economy

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01229c7e80680e0a3614jpeg.jpg" alt="" width="1050" height="637"/><figcaption></figcaption></figure>Nepal Rashtra Bank’s (NRB) tightness on share collateral, signs of a lack of liquidity and the opening up of other investment avenues post-lockdown are some of the factors behind the share market’s sharp decline of late.On Sunday, <a href="http://www.nepalstock.com/" target="_blank" rel="noopener noreferrer">Nepal Stock Exchange (Nepse)</a> recorded the highest-ever fall in its history after the market dropped by 5.03% in just the first two hours of trading. A 40-minute long circuit break was imposed, as 60 companies saw their share values decline by 10%, and the Nepse index to 2782.52 points.A slight recovery was soon posted, but Nepse still fell by 3.7% from the previous day, losing 108.26 points from 2928.8 points to an end-of-day total of 2811.16 points. By day’s end, 31 companies lost up to 10% value on their shares.Despite the fall in the index, there were as many if not more people trading shares and the volume of transactions were unaffected, with 23 million 79 thousand shares of 223 companies clocking in Rs11.24 billion in turnover.The current dip in the share market is in sharp contrast to the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">boom during the lockdowns and prohibitory orders</a> when other investment sectors remained shut, allowing big and small investors to trade from home with the online trading system flourishing unabated.Bank interest rates also fell as the investment sector shrunk during the closures. As demand for credit in other sectors began to decline, banks also increased their investments in equity securities. As a result, the stock market traded at a record high with a turnover of Rs19.55 billion and Rs21.64 billion on 14 May and 15 July respectively.However, since then with the reopening of other sectors, the demand for bank loans has increased. There are indications that the lack of investment capital will be repeated. As such, banks are preparing to raise interest rates.The share market’s decline has been particularly concerning over the last week, falling from 3044 points to 2817 in five days. This has resulted in a loss of Rs1.5 trillion, down to Rs39.44 trillion on Sunday from last week’s Rs40.89 trillion.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01249c7e80680e0a3615jpeg.jpg" alt="" width="623" height="351"><figcaption></figcaption></figure>Sunday’s fallout also prompted the Capital Market Reform Struggle Committee, led by investor Ram Krishna Dhakal, to demand the resignation of NRB governor Maha Prasad Adhikari for activities that have negatively influenced the share market.The committee has put forward 15-point demands including the limit of Rs120 million on margin loans brought by the central bank through monitory policy to be scrapped, the cap on dividends distributed by microfinance companies to be removed and the provisioning be modified.As per the NRB’s new stricter monetary policy, banks and financial institutions are allowed to give a maximum loan of Rs40 million to an individual or institution on the security of shares. Similarly, an investor can take a loan of only Rs120 million by pledging shares.Read also: <a href="https://www.nepalitimes.com/latest/instability-to-cost-nepal-dear-in-2021/" target="_blank" rel="noopener noreferrer">Instability to cost Nepal dear in 2021</a>, Ramesh KumarThe NRB didn’t only tighten its monetary policy, but all subordinate banks were also placed under strict restrictions, effectively banning them from share trading.To be clear, the NRB’s austere policies have caused the market correction by dislodging the confidence of large and institutionalised share traders, says share market analyst Mukti Aryal.The <a href="https://www.nepalitimes.com/here-now/insider-trading-taints-nepal-capital-market/" target="_blank" rel="noopener noreferrer">Sarbottam Cement share scandal</a>, in which Nepal Securities Board Chairperson Bhishma Raj Dhungana and Nepse CEO Chandra Singh Saud engaged in insider trading on IPOs, had recently dented confidence in the fledgling stock market.But the only way forward is for the NRB to examine its restrictive policies, adds Aryal: “The tightening of stock pledges is the chief reason for the market’s decline. Pledging one’s own assets as securities for trading should not be restricted.”However, instead of agitating against the regulatory bodies, investors themselves must adopt careful share-trading practices, says a share broker, adding that it is natural for the market to fall after being propped up by companies that very recently had bad portfolios.“If investors had invested in companies with solid portfolios, none of this would be happening,” he says. “Instead of investing smartly in profitable companies, investors hedged their bets on hydropower projects, development banks and finance, following the market rumours rather than prudent investment.”Translated by Kaustubh Dhital from the <a href="https://www.himalkhabar.com/news/125732?fbclid=IwAR1n22ltLRWRA6Yi8Lg23aGzl8ZLzgKvIlBx_UTy1R_3m9GZlgogZ9Y4F80" target="_blank" rel="noopener noreferrer">Nepali language original</a> in Himal Khabar.

Inside Nepal’s biggest stock market tumble

<img width="1508" height="900" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb39c7e80680e0a0b49jpeg.jpg" alt=""/>The heads of the Nepal Stock Exchange (Nepse) and Securities Board of Nepal (SEBON) as well brokers and industrialists have been found to have profited from insider training and conflict of interest, eroding the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">public’s trust in the country’s stock market</a>.   Documents show that they were engaged in ‘front running’ in contravention of existing rules governing the role of regulators and brokers in stock valuation and transactions. An investigation by <a href="https://www.himalkhabar.com/news/125318">Himal Khabar</a> this week found Nepse CEO Chandra Singh Saud and SEBON Chair Bhishma Raj Dhungana bought shares for family members in Sarbottam Cement at far lower prices just before its Initial Public offering (IPO). The board of directors of Sarbottam Cement decided to sell 6 million shares in the company through a book building process. The shares were valued at Rs750 per unit to raise Rs4.65 billion, of which only 12.9% were included in the initial public offering.  However, many of the shares were sold pre-IPO for less than Rs250 per unit even before the public offering, and others are believed to have been given for free as ‘presents’ to important people. Benefiting were close family members of SEBON’s Chair Dhungana, Nepse CEO Saud, as well as Global IME Capital which was handling Sarbottam’s IPO. <img width="2284" height="1512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb69c7e80680e0a0b4ajpeg.jpg" alt="">Says share market expert Rabindra Bhattarai: “This is a clear case of an attempt by insiders to unethically influence the market price of a company offering premium shares.”Global IME Capital’s parent company Global IME Bank is headed by Chandra Dhakal, who is vice-chair of FNCCI and is also a member of SEBON. Dhakal’s brother has 30% share in an investment company that bought some of the shares. Chandra Dhakal therefore had a conflict of interest in being in a position to be the regulator in the sale of investment vehicles in a company that his family had invested in. Documents show that Saud and Dhungana also used their positions to leverage cheap purchases of the shares in the cement company, while Sarbottam benefited by getting permission to enter the share market, illegally influencing the regulators’ decision-making. In the eyes of the law, this is equivalent to corruption and considered a crime.  <img width="1028" height="718" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbba9c7e80680e0a0b4bjpeg.jpg" alt="">“For a CEO of the Stock Exchange or its employees to use information about an IPO to personally buy shares is a direct and serious conflict of interest,” explains capital market expert Mukti Aryal. “Buying shares in a company that is going to be traded on its own platform opens up the possibility of share price manipulation. In a case like this the SEBON official has to declare a conflict of interest and step down.”Front running is a form of insider trading where those with knowledge of a company’s share value use it to make a personal profit at the expense of the public. For example, it is ‘front running’ when a stockbroker receives customer orders to purchase a large stock in a company, but instead speculates the value of the shares and buys or sells off shares for themselves accordingly. Such actions are not just unethical, but can even be considered a financial crime. Nepal’s Securities Act 2007 Clause 91 codifies into law measures against front running, prohibiting SEBON staff from divulging and profiting off any inside information received by their position. Regulatory authorities are also not allowed to be in contact with company executives, founders and managers or exchange any benefits with them.  <img width="2288" height="482" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbd9c7e80680e0a0b4cjpeg.jpg" alt=""><a href="https://www.himalkhabar.com/news/125244">Nepse CEO Saud told Himal Khabar</a> he did nothing wrong, and admitted that he bought shares in Sarbottam at Rs250 per unit in the name of his wife, Sushila Kumari Bohara, but only after the cement company’s book building process had started. “It is only prohibited to buy and sell in the secondary market, there are no restrictions on buying shares in a company’s initial public offering,” Aryal told the magazine.However, Saud has been accused of purchasing the shares at a price lower than the company’s book-building, or share price evaluation.  <figure><img width="2000" height="1026" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbf9c7e80680e0a0b4djpeg.jpg" alt=""><figcaption>Nepse CEO Chandra Singh Saud.</figcaption></figure>Companies that are going public must disclose all operations to regulators to ensure market transparency, but in no way are regulator officials, investment executives, brokers, company employees and others with an inside track allowed to enrich themselves using the company’s open books. Similarly, the investigation showed that SEBON chair Bhisma Raj Dhungana had also bought 11,992 shares in the name of his US-based daughter, Rebika Dhungana, in Sarbottam Cement before its book building process had started. SEBON’s Code of Ethics bars the board’s members and chair and their families from engaging in any transaction from which they can financially benefit.“Yes, my daughter sent me money from the United States to buy the shares, and yes, they are her shares,” Dhungana admitted. “Just because I am the chair of SEBON does not mean the law bars my married daughter from buying shares from any company she wants.”Dhungana was formerly with Nepal Rastra Bank, and is believed to have been nominated for the four-year term in SEBON at the recommendation of President Bidya Devi Bhandari. <figure><img width="1604" height="860" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbc39c7e80680e0a0b4ejpeg.jpg" alt=""><figcaption>SEBON Chair Bhishma Raj Dhungana.</figcaption></figure><a href="https://www.himalkhabar.com/news/125258">An expert in share market regulations told Himal Khabar</a>: “This is a straightforward case of insider trading. There is no question about it.”Sarbottam Cement had signed an agreement with Global IME Capital to handle the IPO in March in the presence of SEBON officials, but the process has been delayed till later this month. Nepal’s manufacturing companies, especially in the construction and hydropower sector are currently riding a wave of market confidence. Another compnay, Shivam Cement, recently went public clocking a similarly strong stock market performance. The revelation of insider trading has been greeted by outrage on Nepal’s social media, and is likely to erode people’s growing trust in the stock exchange, with many commentators and financial analysts equating the secondary market with skulduggery, insider trading and outright theft.‘Are board members allowing suspicious companies to release shares under the temptation of illicit rewards?’ asked one social media post. Another went: ‘Is the share distribution process transparent?’ Yet another said: ‘Have finance bosses, chiefs and sales executives rigged the process to earn favourable shares for themselves?’ The share market had been anticipating a surge, riding a wave of investment interest of the Nepali public in the manufacturing and construction sectors. But the reports of insider trading confirm the public’s suspicions of hanky-panky, and are expected to dampen the stock market.  Moreover, moving forward, companies wishing to list their IPOs via book building will be cautious of possible behind-the-scenes dealings.The irregularity in Sarbottam Cement share offering is not the first of its kind, with the Securities Act 2007 violated previously.  In 2014, investors at Citizens Investment and Employees Provident Funds were caught exchanging investment with the Upper Tama Kosi Hydropower with shares for themselves in return. The regulations were subsequently overhauled and loopholes plugged.The Upper Tama Kosi and Sarbottam Cement cases are similar in the sense that they were both examples of graft, wherein two parties are believed to have exchanged confidential information for personal profit. Given the impunity that is rife in Nepal’s political and business spheres, the Sarbottam issue will further damage the reputation, trust and transparency of the share market, hurting an already moribund economy.Stock exchange legal expert Amrit Kharel is clear about the rules: “Three generations of the family members of a person with inside information about an initial public offering are barred from benefiting from any transaction, It is not just unethical, it is considered insider trading. And if any member of staff of SEBON is found to be violating this, they are liable to prosecution.”Links to Himal Khabar series on this subject:<a href="https://www.himalkhabar.com/news/125318">https://www.himalkhabar.com/news/125318</a><a href="https://www.himalkhabar.com/news/125244">https://www.himalkhabar.com/news/125244</a><a href="https://www.himalkhabar.com/news/125258">https://www.himalkhabar.com/news/125258</a>Translated by Kaustubh Dhital

Insider trading taints Nepal capital market

<figure><img width="620" height="366" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111148/636cd7bc9c7e80680e092dfdjpeg.jpg" alt=""/><figcaption></figcaption></figure>Aside from second-guessing what will happen in the restored Parliament on Sunday, the major past-time of urban Nepalis these days is to speculate about the country’s violatile stock market.Dring the past six months, the <a href="http://www.nepalstock.com/" target="_blank" rel="noopener noreferrer">Nepali Stock Market (NEPSE)</a> has soared, which immediately begs the question: is a fall imminent?The NEPSE Index is at a record high market capitalisation, which is the total value of shares listed in the stock market. Daily turnovers have started crossing the Rs10 billion mark, invetors seem to be raking it in.All this has happened at a time when the <a href="https://www.nepalitimes.com/latest/instability-to-cost-nepal-dear-in-2021/" target="_blank" rel="noopener noreferrer">economy is being battered by the impact of the pandemic</a>, which has led to heated debates over whether the market is in a bubble and likely to crash, bringing ordinate ionvestors down with it.  Current highs are the combination of several factors:<ul><li>Low interest rate (see figure 1)</li><li>High liquidity in the banking system</li><li>Dematerialisation (conversion of physical certificates to electronic units) of shares</li><li>Restrictionof ‘kitta-kaat’ in real estate</li><li>Fear of missing out (FOMO)</li></ul>Low share prices between 2017-2019 have been attributed to the appointment of <a href="https://www.nepalitimes.com/banner/calendar-of-economic-change/" target="_blank" rel="noopener noreferrer">Yubraj Khatiwada as finance minister</a>. He famously (or infamously for investors) once remarked that investing in stocks was “not productive”. <figure><img width="953" height="560" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111148/636cd7bd9c7e80680e092dfejpeg.jpg" alt=""><figcaption> </figcaption></figure>One factor that has gone relatively unnoticed but has been a game-changer is the advent of ‘online trading’. The possibility to make transactions through the online banking system has ushered in a new breed of investors. Online trading has made the Nepali stock market easily accessible to the public, who can now trade from their living room instead of going to a broker office or bank to make a payment.This trend was starting to be reflected in the data before Covid-19 gripped the country (figure 2). From October 2019 to February 2020, the number of monthly share transactions doubled from an average of 200,000 to 400,000, which pushed the NEPSE Index to the 1,600s, despite relatively higher interest rate hovering above 11%. <figure><img width="961" height="541" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110111148/636cd7bf9c7e80680e092dffjpeg.jpg" alt=""><figcaption> </figcaption></figure>Following Covid-19 restrictions, the number of transactions further increased and reached a whopping 1.1 million per month in recent months. This reflects the unprecedented entry of retail investors who, with a click of a mouse, can invest money that otherwise would be sitting idle, earning savings account interest rates. This increased participation and diversification of the investor base is also reflected by the data on stock market penetration. DEMAT accounts have increased from 800,000 in mid-July 2017 to 1.4 million in mid-July 2019, and is currently estimated at 2.5 million -- about 8% of Nepal’s total population. More than 1.5 million Nepalis applied for the recent IPO of an infrastructure finance company. Compare this number with India, where around 2% of the country’s population invest in the stock market, while in China this number is estimated to be around 7%. But, online trading also brings a host of new challenges. Asymmetric information, poor advisory services and buying shares based on rumours are big concerns. Investors can lose money in the share market if they overpaid for stock or if their investment horizon is not long enough. However, by not investing they can also ‘lose’ potential gains. So, investors need to understand and be aware of cognitive biases that limit investing success. It is as much about human psychology as it is about finance and economics. The importance of diversifying across different companies and sectors, having a long-term investment horizon and personal finance management are even more important these days, but these are severely lacking in Nepal. An investor’s main motto always has to be: buy a diversified set of companies, invest regularly, keep track of the company’s financials and hold for a long period of time. Crucial reforms now await Nepal’s stock market, these can include: <ul><li>Increased participation of companies in manufacturing, agribusiness, etc</li> <li>Strong regulation on insider trading</li> <li>Better trade settlement systems</li> <li>Increasing the limitation of 50 brokers</li> <li>Creation of index funds and exchange traded funds (ETFs)</li> </ul>The NEPSE Index jumped more than 100% in the past year. You could argue that its current level is a bit high, but just because it has gone up by 100% it does not mean that it is overvalued, and vice versa. The cumulative annual growth rate of the NEPSE between 2001 and 2021 is around 12%, which is in line with the 10% return of the S&amp;P 500 (which tracks 500 of the largest US companies) in the same period. During these 20 years, there have also been periods where the NEPSE fell as much as 75% (between August 2008 and June 2011) and soared over 500% (between June 2011 to July 2016). Stock markets are cyclical by nature. Corrections, and subsequent rises, are bound to happen. In this apparently chaotic environment of ups and downs, one thing is here to stay: a fundamental shift and dynamism thanks to a new breed of investors trading online. This will have short-term disruptions, but it is likely to stabilise the Nepali capital market for years to come. Santosh Pokharel, CFA works in development sector. Sudyumna Dahal is Doctoral candidate at CAMA, <a href="https://cama.crawford.anu.edu.au/">Australian National University.</a>

Despite politics, Nepal’s stock market is bullish

We were used to getting stuck in Kathmandu’s notorious traffic with gas fumes and horns blaring. We are still stuck in traffic, but now it is mostly the quiet hum of EVs, and street-level air is noticeably cleaner. Alongside Norway, Nepal has the highest combustion-to-EV conversion rates in the world. And we are not even a middle-income country yet. How did we get here?&nbsp; For the first time in Nepal’s history, 2025 saw an unprecedented turn of events: two back-to-back auto shows a week apart in August, independent of each other. This was timed for the warm up to the Dasain season. &nbsp;&nbsp; The first auto show 6-11 August was the <a href="https://naimanepal.org/mobility-expo" target="_blank">NAIMA Mobility Expo 2025 </a>by the newly established Nepal Automobile Importers and Manufacturers Association which saw 35 new models, many of them EVs with 50 participating brands like Toyota, BYD, Hyundai, Kia, MG, Mahindra, Omoda &amp; Jaecoo, Proton and Leapmotor.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101711108_d8c03f5141f0086814d866543af4d95310f340a7191363e4705aedda8e4b73d0.jpg" data-media-id="editor_1" data-image-id="2025101711108_d8c03f5141f0086814d866543af4d95310f340a7191363e4705aedda8e4b73d0" data-rendition-name="original" width="1770" height="1097" loading="lazy" alt="Electric cars in Nepal NT"> </figure>  The exhibition had a strong focus on two-wheelers aimed at affordable and easy mobility in a town now known for long traffic jams (see report). NAIMA attracted a record 100,000 visitors in six days.&nbsp; The second one was the Nepal Automobile Dealer’s Association Auto Show 2025 (<a href="https://youtu.be/emSd0mUuMjU" target="_blank">NADA</a>) to address the growing demands for cars and two-wheelers. It was a natural expression of new market forces at work, on one hand, and popular taste, on the other — one influencing the other.&nbsp; This year’s NADA Auto Show was its 17th iteration, and carried a hefty legacy: exhibiting a contemporary lineup from manufacturers such as Tata, Suzuki, Xpeng and Nammi, but also classics for vintage car lovers like the 1928 Ford Model A and a rare 1955 Austin Princess Dm4 sedan.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101711108_dda7d264ddb12448cc10d9b1cb699632eee975741fc4c56055e4df904579c34f.jpg" data-media-id="editor_3" data-image-id="2025101711108_dda7d264ddb12448cc10d9b1cb699632eee975741fc4c56055e4df904579c34f" data-rendition-name="original" width="1381" height="848" loading="lazy" alt="Electric cars in Nepal NT"> </figure>  It also showcased the Deepal eVTOL (a 2-seater drone), and a humanoid robot with dog. Curious onlookers at Bhrikuti Mandap thronged the show with footfall crossing 170,000.&nbsp; Earlier this year, I had traveled to attend India's largest auto show, the <a href="https://youtu.be/OgIIvXx6yOM?si=zNmMgklzCJpagTye" target="_blank">Bharat Mobility Global expo</a> in January in New Delhi. It was part of a <a href="https://youtu.be/GT6LBKiJvyg?si=r7YaxahjSAnsIfBY" target="_blank">roadtrip</a> from one capital to another with BYD Nepal on a Dolphin. The journey took three days through Bhairawa and then the Lucknow-Agra Expressway, covering a distance of 1200km one way.&nbsp; The drive through the horrid Narayanghat-Butwal corridor alone was testimony that EVs are no longer fragile and could handle a beating. And while both Nepal's economy pales in comparison to India, it was evident that the private passenger segment is well on its way to electrification. More than 70% of all vehicles sold in Nepal last year were electric. Sales representatives are unanimous: inquiries for EVs are at an all-time high and overshadow demand for ICE (Internal Combustion Engine) vehicles. Besides four-wheelers, a fast-growing proportion of scooters were also electric.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251017111016_e4cd988ca915ddd283a86d48fac332f22f98ff776b3d22391e10156ad56d7a1a.jpg" data-media-id="editor_6" data-image-id="20251017111016_e4cd988ca915ddd283a86d48fac332f22f98ff776b3d22391e10156ad56d7a1a" data-rendition-name="original" width="1389" height="863" loading="lazy" alt="Electric cars in Nepal"> </figure>  I have spent the last two years <a href="https://youtu.be/256YQa37Ol8?si=Sv1wQ8EdvgMCiTM_" target="_blank">reviewing</a> many of these EVs. The days of batter-powered cars being small toy cars, with sub-par build quality and the range of golf carts have long gone.&nbsp; Fit and finishing in both Chinese and Indian EVs are comparable to established brand names even in Japanese and European markets. But most significantly for us in Nepal, battery technology and range have made inter-city travel on our highways imaginable. The media sometimes portrays Nepal as a prime testing/dumping ground for EVs due to lack of regulation and the proximity to the world’s largest EV exporter (China) and our tough geographical conditions. That is just a part of the story. What actually stands out is the incredible appetite for risk among Nepali buyers.&nbsp; Since the Covid pandemic charging infrastructure has spread across the country. My early trips between Kathmandu and Pokhara saw the possibility of topping up with just one charging gun at the <a href="https://rsr.com.np/" target="_blank">Riverside Springs Resort in Kurintar</a> – and I would have to wait in line, or the charger simply would not be working.&nbsp; These days, by the time I cross Kurintar from Koteswor in my Kona, I will have passed at least 10 charging stations with multiple guns. &nbsp; On my <a href="https://www.youtube.com/@casuallyannoyeddriver" target="_blank">YouTube reviews</a>, people from across the globe ask about range and handling EVs on poor road conditions like ours. The occasional skeptics also leave comments like: ‘If this works in the higher altitudes and mountainous roads of Nepal, then it should be a breeze down here in the flats of Australia and/or hills around Auckland!’  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251017111016_8b4fbe59884538849be6428eb2ce9249627a8970ed9ef4cd3c792682bf26dbed.jpg" data-media-id="editor_10" data-image-id="20251017111016_8b4fbe59884538849be6428eb2ce9249627a8970ed9ef4cd3c792682bf26dbed" data-rendition-name="original" width="1139" height="787" loading="lazy" alt="Electric cars in Nepal"> </figure>  SATURATION? However, both the NAIMA and NADA auto show also confirmed that we could be hitting a peak EV. From having just one car in one budget segment, there are now multiple alternatives stretching from the entry of below Rs3 million to the premium and high-end Rs 10 million price point.&nbsp; Furthermore, the price wars on EVs that started in China a year ago have also trickled across to Nepal. Models such as the <a href="https://youtu.be/3wFN2I81Tq0?si=T6L4SAfRpoyNNvYC" target="_blank">MG S5</a>, Nammi Vigo, BYD Atto 2 (and 1) and <a href="https://youtu.be/y214kWbWTc4?si=bIevanDZEPQdkEs4" target="_blank">Deepal S05</a> saw aggressive pricing schemes and discounts that disrupted pre-existing quotas. Consumers can suddenly afford a lot more cars, and travel a lot further for a considerably smaller price tag.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101711108_276afec1bdbd37497572939a4eada4bef74c9d075cd5851892c4dd1985edb9c5.jpg" data-media-id="editor_13" data-image-id="2025101711108_276afec1bdbd37497572939a4eada4bef74c9d075cd5851892c4dd1985edb9c5" data-rendition-name="original" width="1953" height="1107" loading="lazy" alt="Electric cars in Nepal NT"> </figure>  However, booking numbers at both auto shows did not necessarily translate into actual deliveries. The fact remains that almost 80% of registered vehicles in Nepal are still two-wheelers, and GDP per capita stands at just $1500 — among the lowest in the world.&nbsp; This means that early first-adopters are first-time buyers, and the remaining customers in the market are more skeptical and less willing. But there are also those that are unlikely to consider the EV suitable to travel to off-road rural areas. For the average Nepali family, upgrading or purchasing a new car is no small decision. It happens in five years or more with resale values being a big determinant. The EV boom may be reaching saturation.&nbsp; Both NADA and NAIMA shows drove home the message that Nepal’s transport sector is on an electric fast-track, but the road ahead will be bumpy.&nbsp; Soon after the shows, the glacial debris flow on the Bhote Kosi knocked out the Rasuwa-Kerung border with China, and earlier landslides had already blocked the Koradi checkpoint. Manufacturers are now using the less convenient Korala border in Mustang. BYD, Leapmotor and Omoda &amp; Jaecoo have begun rerouting their vehicles to make up for delivery deadlines.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101711108_62fd70a476656062005959c247b38178d8efabf8570c73929295c0a103ff4013.jpg" data-media-id="editor_14" data-image-id="2025101711108_62fd70a476656062005959c247b38178d8efabf8570c73929295c0a103ff4013" data-rendition-name="original" width="1438" height="1031" loading="lazy" alt="Electric cars in Nepal NT"> </figure>  Although the distance from the capital to the Korala border (470km) is four times longer than from Rasuwa (128km) &nbsp;and Tatopani (112km), it is still considered faster and more cost effective than shipping via India using sea routes.&nbsp; And then Nepal was engulfed in turmoil after the youth-led protests of 8-9 September and its aftermath. Many automobile showrooms around Thapathali including Tata, Hyundai and CG were vandalised and torched.&nbsp; Sushila Karki leads a caretaker government till elections are held in March, and the unsettled situation will affect the economy and investment climate as well as the automobile sector. Arnav Upadhyay reviews automobiles and promotes road safety under the handle Casually Annoyed Driver on <a href="https://www.youtube.com/@casuallyannoyeddriver" target="_blank">Youtube</a>, <a href="https://www.tiktok.com/@casuallyannoyeddriver" target="_blank">Tiktok</a> and <a href="https://www.instagram.com/casuallyannoyeddriver/" target="_blank">IG</a>, and this monthly column Drive Line in Nepali Times.

Is Nepal reaching peak EV?

While the streets of Kathmandu were erupting violent GenZ protests that brought down the government, Nepal’s athletes were achieving different kinds of breakthroughs on Spain’s mountain trails and in the cricket qualifiers in the UAE.&nbsp; On 27 September, two weeks after the uprising back home, Nepal's cricket team stunned the sporting world with their first-ever victory against a full member nation — defeating two-time World Cup champions West Indies by 19 runs, then crushing them by 90 runs two days later to seal a historic 2-0 series victory. On that very day, 5,000km away in the Spanish Pyrenees Sunmaya Budha stood on a podium alongside American and European champions, clutching a silver medal from the 3rd World Mountain and Trail Running Championships. No Asian athlete had ever finished this high in the Long Trail competition at the World Championships. While youth back home showed they would not tolerate injustice and could carve their own future, young Nepalis were securing it on the global sports stage even in moments of national crisis.&nbsp; The Long Trail event at the 2025 World Championships was designed to break even the strongest athletes. Stretching 82km through the Spanish Pyrenees, the course features an unrelenting 5,413m of elevation gain and descent.&nbsp; Athletes faced everything from steep scree slopes to narrow ridge lines, from boulder fields requiring scrambling to precipitous descents demanding total concentration. One misstep could mean injury, one lapse in focus could cost precious minutes.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101909108_81152b4754331c4858ed2d0d28204e6a92559faf089fea9ebc84156766ff228a.png" data-media-id="editor_0" data-image-id="2025101909108_81152b4754331c4858ed2d0d28204e6a92559faf089fea9ebc84156766ff228a" data-rendition-name="original" width="977" height="731" loading="lazy" alt="World Mountain and Trail Running Championships"> <figcaption>The Nepal team at the World Championships 2025 with the final four: Sangge Sherpa, Sunmaya Budha, Suman Kulung, Man Kumar Roka Magar. Photo: PREETI KHATTRI</figcaption> </figure>  WOMEN'S COMPETITION Katie Schide (USA) - Winner • Time: 9:57:59 • Average pace: 7:18 per km&nbsp; &nbsp; <a href="https://www.facebook.com/sunmaya.budha.942">Sunmaya Budha </a>(Nepal) - Silver Medal • Time: 10:23:03 • Gap behind winner: 25 minutes and 4 seconds • Average pace: 7:36 per km Most recreational trail runners need 18-24 hours to complete this course, if they can finish it at all. Budha's pace means she was running at a speed that most casual runners could not maintain on a flat course, let alone while constantly climbing and descending mountains. MEN'S COMPETITION Jim Walmsley (USA) - Winner • Time: 8:35:11 • Average pace: 6:17 per kilometer (10:07 per mile) &nbsp; <a href="https://www.facebook.com/runnersumankulung">Suman Kulung (Nepal)</a> - 32nd Place • Time: 10:06:25 • Average pace: 7:24 per km • Finished 1 hour 31 minutes behind the winner • Best performance by an Asian male athlete &nbsp; <a href="https://www.facebook.com/rokamagarmankumar764">Man Kumar Roka Magar (Nepal)</a> - 37th Place • Time: 10:10:53 • Average pace: 7:27 per km • Finished just 4.5 minutes behind Kulung <a href="https://www.facebook.com/Yetimannnnn">Sangge Sherpa (Nepal)</a> - 116th Place • Time: 12:33:09 • Average pace: 9:11 per km  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101909108_2255845b43e68b14d3b111099124f9c98898bbe9016299b9af278aca8b4377f7.png" data-media-id="editor_5" data-image-id="2025101909108_2255845b43e68b14d3b111099124f9c98898bbe9016299b9af278aca8b4377f7" data-rendition-name="original" width="977" height="904" loading="lazy" alt="World Mountain and Trail Running Championships"> <figcaption>Sangge Sherpa organising himself post gear check in Can-Franc.</figcaption> </figure>  The men's winner averaged about 6:17/km on a course where elite mountain runners were struggling. Kulung and Roka Magar maintained a 7:24-7:27/km pace—faster than many recreational runners' easy flat road pace. They were faster than dozens of European athletes who train in the Alps. Even Sherpa's 9:11/km average pace over 12+ hours represents an extraordinary feat of endurance, maintaining forward progress on some of the most challenging mountain terrain in competitive trail running. “What set Budha apart was her exceptional descending ability. She recorded the fastest downhill speed among all women in the competition—a skill honed through years of training on Nepal’s steep mountain trails,” said her team director Ryan S Blair.&nbsp; Sunmaya Budha, ranked world 8th for 100km category events and 17th in the world by the International Trail Running Association (ITRA), entered the race having recently recovered from injuries to both legs.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101909108_38d8bee04beaa6443480ecf4765e6b34f91d2d105128f292f73702072a820d25.jpg" data-media-id="editor_6" data-image-id="2025101909108_38d8bee04beaa6443480ecf4765e6b34f91d2d105128f292f73702072a820d25" data-rendition-name="original" width="1600" height="1070" loading="lazy" alt="World Mountain and Trail Running Championships"> <figcaption>Sunmaya storming in 2nd position. Photo: WMTRC2025 CANFRAC </figcaption> </figure>  While American Katie Schide dominated from the front, Budha found herself in an intense battle for second place with Italy's Fabiola Conti, a specialised skyrace and mountain marathon runner. The two runners remained locked together through much of the course, running side-by-side at key checkpoints and pushing each other through the mountain wilderness. In ultra-trail racing, where climbs are often win by fractions of minutes, the ability to descend fearlessly and efficiently can make the difference between podium positions. Budha's technical prowess on the descents gave her a advantage over her European competitors. The decisive moment came in the final 20km. At the 65km mark, Budha held a 90-second lead over Conti. By 71.5km she had extended her advantage to eight minutes — a commanding gap she maintained to the finish. In a powerful display of national pride, she approached the finish wrapped in the Nepali flag, showing the world what Himalayan athletes can achieve on the global stage. Said Preeti Khattri, team lead for Nepal: "Standing right beside the USA and European peer. Proud. No Asian athletes have ever made it this far.” MEN, TOO While Budha captured headlines with her silver medal, the performances of Suman Kulung and Man Kumar Roka Magar were equally significant. Both athletes topped Asian athletes and numerous European competitors. Suman Kulung delivered a performance that demonstrated extraordinary mental toughness and racing intelligence. What makes his 32nd place finish even more impressive is that 1.5km he encountered a severe bottleneck on narrow technical trails.&nbsp; This critical delay pushed him back to around 92nd position—a devastating setback in a world championship race where every second counts. Many athletes would have been demoralised by such an early disaster.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025101909108_e2f358723ea8abaa262e749a4c6afb0a179cf9f3e0bb4eab1d973e25b9b00f09.png" data-media-id="editor_7" data-image-id="2025101909108_e2f358723ea8abaa262e749a4c6afb0a179cf9f3e0bb4eab1d973e25b9b00f09" data-rendition-name="original" width="668" height="445" loading="lazy" alt="World Mountain and Trail Running Championships"> <figcaption>Suman Kulung coming through 65km Assisted Checkpoint. Photo: DR SIGRID FOUNDATION</figcaption> </figure>  But Kulung showed why he is Nepal's top-ranked trail runner: he launched a spectacular comeback. By the 30km mark, he had charged through the field to reach approximately 20th position — recovering over 70 places in less than 30km.&nbsp; His final time of 10:06:25 placed him ahead of runners from traditional mountain running powers including Switzerland, Austria, and Germany, and was the highest-finishing Asian male athlete in the competition.

Nepali runners score breakthroughs

Edmund Hillary once said that the Sherpa were the most researched, dissected and blood-taken ethnic group in the world. Living below the highest mountains in the world, the trans-Himalayan traders were genetically adapted to high altitude, their culture spanning both sides of the border, and with average per capita income of the Khumbu five times that of the rest of Nepal. But there are other less-known Sherpas in Nepal’s periphery: in the Langtang, Barun and Rolwaling valleys.&nbsp; Norwegian mountaineer Jon Gangdal’s latest book, Guilt &amp; Glory: Climbing with Sherpas is about his deep personal and four-decade long association with his climbing partners from Rolwaling. Guilt &amp; Glory reads more like Gangdal’s memoir and the mountains he has climbed, but it is also a tribute to the selfless friendship with fellow climbers from Nepal. It also exposes the inherently asymmetric relationship between expeditions and their employees in the Himalaya. Earlier mountaineering narratives overlooked the role of Nepal’s climbing guides in putting their clients on summits. But in recent years there has been increasing recognition that most expeditions would just not be possible without them. SUMMIT SUPPORT And that is where Gangdal’s book fits in: between the glory of a successful summit and guilt about not giving due credit to the sacrifice and professionalism of a people whose surname and ethnicity is now a synonym for support staff of G-7 Summits. After failure and tragedy on a 1994 expedition on Everest West Ridge in which his climbing partner Mingma Norbu was killed in an avalanche, Gangdal is tormented by guilt and supports his widow Ang Sona and her family. ‘The Art of Succeeding When You Have Failed’ was the title of his lecture series in which Gangdal became an outspoken critic of military-style assaults on Himalayan peaks, and self-seeking climbers on them. In a comment he wrote for <a href="https://archive.nepalitimes.com/article/nation/everest-dangerous-place-to-work,1316" target="_blank">Nepali Times in #704 in 2014 </a>after an avalanche killed 16 Nepali guides on the Khumbu Icefall, he argued that equality and safety of climbing Sherpas could only happen ‘if we turn the whole Everest pyramid upside down’. He wrote: ‘We can feel nothing but grief and pain with the families of the brave boys who gave their lives for … for what? For the glory of their nation, like at war? For the glory of their attention-seeking sahibs who have had the highest mountains in the world as their playground for more than a century? Or for what we all have to do: our daily duty to feed ourselves and our families.’ Guilt &amp; Glory expands on that theme, weaving in his climbing adventures. He realises that the egalitarian Norwegian approach in decision-making does not work in the East’ where the prevalent notion is that a leader should lead. Gangdal notes that with a few tweaks, the twain of East and West can indeed meet. In 1996 on the north face of Everest while a major tragedy was unfolding on the Nepal side, Gangdal tries to ‘play Sherpa’ hauling twice the load of his Sherpa companions and is knocked out with exhaustion and has to abandon the climb. Climbers have often justified not helping fellow climbers in distress in the Death Zone saying that ethics at sea level do not apply at eight thousand metres high on a mountain. But Gangdal quotes expedition doctor Morten Rostrup: ‘When you pass climbers who are sick or in danger on the way to the summit, you should always do something … continuing to the summit shows a lack of humanity.’ Foreign climbers are on top of Maslow’s hierarchy of needs, and in a monastery below Manaslu, Gangdal once held a long one-sided discussion with the abbott on why people’s basic needs need to be met before higher aspirations can be pursued. The asymmetry in the relation between sahibs and porters is less glaring than it used to be. Many mountaineers have struck life-long friendships with bonds with their employees and their families in Nepal. And, as Gangdal writes, ‘Education … has helped reduce the asymmetry between the Sherpa people and us foreign climbers.’ Unlike other books about Himalayan mountaineering &nbsp;this one focuses on the Rolwaling, the less visited and wilder valley in the shadow of Gauri Shankar, and protected by the goddess Tseringma.&nbsp; Noted Rolwaling Sherpas include Chhiring Dorje who made the heroic rescue on K2 in 2008, Dawa Yangzum, the first Nepali woman to summit all 14 eight-thousanders, Tamting Sherpa who has also climbed all 8,000m peaks, TGemba Tsheri who became the youngest person to climb Everst at age 16 in 2001. <a href="https://www.cambridge.org/core/books/power-of-the-periphery/deep-ecologists/75228182BC490F8AC31C8E4C8335F435" target="_blank">Rolwaling also has a strong Norwegian connection</a>, it is where <a href="https://www.theguardian.com/environment/2009/jan/15/obituary-arne-naess" target="_blank">Arne Næss</a> who coined the term ‘deep ecology’, and mountaineer and eco-philosopher <a href="https://nepalitimes.com/review/norway-nepal-a-love-story" target="_blank">Sigmund Kvaløy</a> did their research and exploration in 1971.&nbsp; There is one interesting tidbit with contemporary non-mountaineering relevance from Guilt &amp; Glory: Næss and Kvaløy’s Rowaling research was bankrolled by Arne’s brother Erling Dekke Næss, a Norwegian shipping magnate. But Rolwaling was a restricted area in those days because of Khampa activity, and the Norwegians approached Prince Gyanendra who granted them permission in return for setting up the Royal Nepal Shipping Corporation. Gyanendra became chair of that controversial company and Erling Næss was adviser. Guilt &amp; Glory is not just about mountaineering, and is sprinkled with anecdotes and encounters with everything from Maoists to yetis. It is written with compassion and a deep respect for Nepal and its people.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251017111028_3fd1da00a1362a6c3f07807ec55b9e5d9163c11fb759aa09530a5ea486751d24.jpg" data-media-id="editor_4" data-image-id="20251017111028_3fd1da00a1362a6c3f07807ec55b9e5d9163c11fb759aa09530a5ea486751d24" data-rendition-name="original" width="1136" height="702" loading="lazy" alt="Guilt &amp; Glory book"> </figure>

West meets East in the Himalaya

In 2004, Poet Durga Lal Shrestha asked me to translate 223 little poems from Newa into English. They were each written as sestet-- terse in their form but heavy in imagery and sentiment. The novice translator in me struggled to find the best way to convey his poetry in English-- but the process became a tour as I discovered my mother tongue anew. The highlight, however, was Shrestha’s handwriting. His calligraphy is immaculate. He had given me photocopies from the notebook he had written the poems in and each page looked as though they were freshly out of the press. The letters bore a consistency, unswayed by the emotions of his poetry. Sometimes, I would just stare at the handwriting in admiration.&nbsp; Someone else had been similarly besotted by his writing: “I met him 25 years ago in the UK when he was the chief guest at a Mha Puja event organised by Pasa Pucha,” recollects Ojesh Singh, writer and engineer. “We were roommates. I noticed he couldn’t stop writing.”&nbsp; Shrestha, an octogenarian now, was a teacher at Kanya Mandir School for many years, where his writing was admired by colleagues and students. Known as Janakavi or People’s Poet, a title bestowed on him by the Nepal Bhasha Parishad, Shrestha is also the recipient of the Jagadamba Shree Puraskar for his contribution to literature.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251021071052_b109f2ee6dbac911fb8002e8e8bb33a50a8f755d26662f333535d32c8573e782.jpg" data-media-id="editor_0" data-image-id="20251021071052_b109f2ee6dbac911fb8002e8e8bb33a50a8f755d26662f333535d32c8573e782" data-rendition-name="original" width="1600" height="900" loading="lazy" alt="Digitising the savant calligrapher NT"> <figcaption>From left to right: Suman Shrestha, Ananda Kumar Maharjan, Durga Lal Shrestha, Ojesh Singh, and Arbindra Man Singh. Photo: SUCHITA SHRESTHA</figcaption> </figure>  “He would write on anything he could lay his hands on. On tissue paper, envelopes, cigarette boxes. It struck me how neat and tidy his writing was,” says Singh. “The structure and size were perfectly in sync-- and as an aspiring graphic designer then, I fell in love with his writing. Later, whenever I read his books, I thought it would be nice to read them in his writing.” After sitting with the notion of turning Shrestha’s writing into a digital font for years, in 2024, he reached out to a small group of people who he thought might be allies.&nbsp; “It was during Ojesh Ji’s book launch that we met and talked about the possibility of turning Durga Lal Shrestha’s writing into font,” recalls Ananda Kumar Maharjan, who has designed the Durga Lal Shrestha font and is affiliated with Callijatra, an organisation promoting Newa calligraphy.&nbsp; For Singh, the desire to immortalise the poet's handwriting wasn’t only coming from personal admiration, it was also about preserving the writing of a language and literature leader and activist. He offered to fund the font project, which meant paying for Maharjan’s time and dedication. He also drew into the conversation Shrestha’s son Suman, who has been an integral part of the process.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251021071056_372dc34ac3ce3b70445128131a11ade8f321756c6cc7615825c4451e85f56374.jpg" data-media-id="editor_1" data-image-id="20251021071056_372dc34ac3ce3b70445128131a11ade8f321756c6cc7615825c4451e85f56374" data-rendition-name="original" width="616" height="728" loading="lazy" alt="Digitising the savant calligrapher NT"> </figure>  The others involved in the process were journalist Arbindra Man Singh, who had been scanning Shrestha’s writing for the book Hastakshar, a collection of poems printed in the author’s handwriting. Also an enthusiast of converting Shrestha’s writing to a font, Singh provided help in bringing together the scans, based on which Maharjan picked the best letter for each alphabet to create a complete set.&nbsp; “Doing this was different from other font developments I have done in the past,” explains Maharjan, who has also digitised his own handwriting into a font, called Anand. “To create Durga Lal Shrestha’s writing as font, I had to analyse his writing archive and pick the best.”&nbsp; He adds: “There was a book published in his writing, so there were scans and digital archiving done by Arbindra Ji, which became the foundation for my work.” He had to find a prototype for each alphabet based on the scans. He traced the letters on Illustrator and copied them to a MAC software called Glyphs where he had to enter each letter, using a traditional Devanagari keyboard instead of Unicode.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025102108100_2f6b8c0f3cf91682707ac356e11ad50b342a4198f56490ab68d041e875b15edb.jpg" data-media-id="editor_2" data-image-id="2025102108100_2f6b8c0f3cf91682707ac356e11ad50b342a4198f56490ab68d041e875b15edb" data-rendition-name="original" width="818" height="766" loading="lazy" alt="Digitising the savant calligrapher NT"> </figure>  “I had to be very careful to keep it accurate. Conjunctions need attention,” Maharjan says. “There are half letters, saint letters, ligatures and open type features to pay attention to, this is more advanced than the fonts I’ve created in the past.” &nbsp; Maharjan has designed this font in three different variations that users can play with. “Writing changes with age. While young, people write better, but with age, it starts to change. Since Durga Lal Shrestha hasn’t been very well lately, his hand shakes when he writes. So, we had to pick the best of his writing from the records,” he adds. “People also tend to write in different styles depending on their mood so we took the best four of every letter and traced and picked one.”&nbsp; Handwriting is deeply intimate and in this day and age of tech, becoming lost.&nbsp; What bothers me about the day of phones is that I no longer know what the writing of those close to me look like. I no longer know how you press the pen between our fingers or how you tilt it against the paper or how you pause to write periods or how the nib makes a perfect tiny orb before you drag it just so, to turn it into a comma. The familiarity of the nuances of someone’s writing is lost on us.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251021071056_2c83ab2c3ed4cfa42e6a6a637d88fd879218fb5b7391e086ab5db1a8ec173654.jpg" data-media-id="editor_3" data-image-id="20251021071056_2c83ab2c3ed4cfa42e6a6a637d88fd879218fb5b7391e086ab5db1a8ec173654" data-rendition-name="original" width="992" height="1280" loading="lazy" alt="Digitising the savant calligrapher NT"> </figure>  Ojesh Singh agrees with me. He says it’s important to keep handwriting alive as people become more and more tech-dependent. People are likely to interact even less with letters on paper, but at least we can have fonts, he says.&nbsp; A set of six books by poet Durga Lal Shrestha is set to be launched on 31October. One of them, entitled, Kawa, is typeset in the Durga Lal Shrestha Font. The font will be made available to the general public after the books have been released. In July, I had visited Shrestha, who I also call Durga Lal Taaba, as many Newa people in my generation do. Seated in the quiet of his home, he conversed about literature and language with my father and my uncle. Coming out of Taaba, Newa, which has a utilitarian function for me to communicate with my parents, sounded more like a lyric.&nbsp; I asked him what he thinks about his handwriting being archived as a font. He replied: “This body is going to be gone eventually, so I thought maybe my handwriting could live on.” Suburban Tales is a monthly column in Nepali Times based on real people in Pratibha’s life.