Gone are the days where a television set was a hefty cathode ray tube apparatus in the living room hooked up to an antenna on the roof: a sign of prosperity, a cherished investment to outlast youngsters watching cartoons.&nbsp; TVs today are thinner, sleeker, bigger, and smarter. And although Nepalis are buying more of them, their screen time is also being increasingly shared with mobile phones.&nbsp; “A decade ago our best sellers were 24 or 32-inch TVs, but there was a drastic change around the 2018 Football World Cup,” recalls Alok K Gupta, General Manager at Samsung Electronics in Nepal. “Nepalis are buying more 43 or 55-inch models right now.”&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20240927140944_0f90f94ab5904ab37191a3b1d2880a29b951cccbc3df3b9515b8476941396403.jpg" data-media-id="editor_0" data-image-id="20240927140944_0f90f94ab5904ab37191a3b1d2880a29b951cccbc3df3b9515b8476941396403" data-rendition-name="original" width="3500" height="1969" loading="lazy" alt="TV or not TV"> </figure>  Gupta notes that big sporting events like the World Cup, the recent T20 World Cup and the Euros, cause up to 30% spikes in TV sales in Nepal. There is also a surge in demand during the festive season like the upcoming Dasain, with sales almost doubling because of salary bonuses.&nbsp; New TVs do not just have larger, sharper screens but also have more intelligent software, and can connect to the internet making it possible to watch streaming videos on YouTube or Netflix.&nbsp; With more than 3 million Nepalis working overseas, and sending money home, there is more exposure to bigger television sets, and an increased ability to afford them. Returning Nepalis are also bringing TVs back with them, a trend that might increase after the current budget removed duty on tellys regardless of screen size.&nbsp; “People are now more savvy about the tech they buy,” explains Gupta. “They want new things faster. In the past, people bought a TV to last a generation, but now much of our sales are people looking to replace or upgrade their sets.” &nbsp; But are buyers doing their homework, or are TV companies getting better at advertising? From consumer habits it looks like middle class Nepalis are buying a new set just to shift the TV they already have into the bedroom.&nbsp; Consumer electronics is also about planned obsolescence, with companies intentionally making products with short life cycles that need software upgrades, or that are superseded by sets that have better picture quality and other features.&nbsp; Samsung’s CE-Biz first tapped into the replacement market by building arkostore.com for customers who were curious about how much money they could get back for returning their current set. CE also runs its own financing on all Samsung devices, allowing monthly payment at 0% interest.&nbsp; Samsung has a killswitch that will turn off a customer’s TV or smartphone if they fail to make their instalment payment, although the company has not put a similar feature (out of mercy?) on its washing machines or fridges. The popularity of home theatres with wide flat screens indicates that Nepalis who can afford it are tired of watching videos on tiny mobile screens. &nbsp;­­ <h2>Content is king</h2> With TV sets now capable of streaming, and the spread of broadband internet, Nepalis are watching more international programs on their tellies than domestically-produced fare. &nbsp; “The content of Nepali TV has always been pretty weak,” admits Prashant Aryal, formerly with Kantipur TV. “Nepal started late to begin with in 1984 and did not reach maturity before social media took over. Nepali TV never evolved from he-said, she-said content.”&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20240927140944_024fa251d0973b28a1abd964f00dae7e06c84ba13c37be0e6bcb84a027d163aa.jpg" data-media-id="editor_1" data-image-id="20240927140944_024fa251d0973b28a1abd964f00dae7e06c84ba13c37be0e6bcb84a027d163aa" data-rendition-name="original" width="3000" height="2250" loading="lazy" alt="TV or not TV"> <figcaption>Photo: SURESH PAUDYAL</figcaption> </figure>  NTV and Kantipur TV still have the highest ratings for news and current affairs, but for entertainment most Nepalis used TVs to tune into Indian channels with entertainment serials. And although Nepali films have started being accepted into international festivals and even winning awards, non-news domestic TV content has always been mediocre. One reason for the poor quality of TV programs is that there were relatively few people with TV skills. Television channels have had to bring in journalists from print, and plunk them in front of a camera. Since entertainment content costs money, &nbsp;journalists all ended up doing studio talk shows.&nbsp; No wonder, the content that has thrived and become a Nepali TV trend are fiery talk shows like Rishi Dhamala's Janata Janna Chahanchha or Rabi Lamichhane’s populist Sida Kura Janata Sanga before he established the RSP as an alternative political party in 2022.&nbsp; Other established TV channel talk show hosts like Bhusan Dahal, Dil Bhusan Pathak, Vijay Kumar Pandey, or Tika Ram Yatri have all moved to YouTube. A particularly good TV show may be approached by sponsors just on the quality of the content. Sometimes producers tie up with sponsors to make shows. Sometimes the company might do it out of its own pocket. The main source of revenue is advertising, which has largely moved to the net.&nbsp; “When I was at Kantipur TV, it was three years before we broke even,” recalls Suresh Paudyal at AP1 TV and 28 years in the television sector. Paudyal adds,“Everybody wants to put three chairs in a studio and do a talk show, while Nepal is brimming with stories that could make great documentaries.”&nbsp; Paudyal is currently also director of the singing franchise show Nepal Idol, which is in its fifth edition. The show is a rare instance in which investors did decide to chip in big time, even paying a heavy franchise fee.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20240927140940_a5cdb632efad0a68e2efb3697c572f224d3bb855c0476ed64fe5f9243c6c3e3f.jpg" data-media-id="editor_2" data-image-id="20240927140940_a5cdb632efad0a68e2efb3697c572f224d3bb855c0476ed64fe5f9243c6c3e3f" data-rendition-name="original" width="3500" height="2625" loading="lazy" alt="TV or not TV"> <figcaption>Photo: SURESH PAUDYAL </figcaption> </figure>  “I even went to see an episode of Indian Idol and they had such a big production that it seemed impossible to execute a Nepali version,” he says. “But even the Maldives were doing it, so we went ahead.” Nepal Idol was able to secure a good title sponsorship, and ratings have held, although what Paudyal really wants is the show to grow bigger every year.&nbsp; All in all, the content side of linear Nepali TV channels is bleak. But, Nepali entrepreneurs are starting up streaming services like Paradygm TV, and there are producers with better video skills both home and abroad. Perhaps the lack of quality is the perfect starting place for young, talented, and driven professionals who are passionate about TV. There is nowhere to go but up. &nbsp;

Vishad Raj Onta

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TV or not TV

Television technology has vastly improved image quality in the 4 years after the last world cup. It may be time to upgrade. <img width="640" height="707" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d75d9c7e80680e0314dajpeg.jpg" alt=""/>The world’s biggest sporting event FIFA World Cup was first broadcast on television in 1954, when its viewers exceeded even that of the Olympic Games. As the 2018 World Cup opening nears, the excitement is building up for an exhilarating experience for those who will travel to Russia, as well as those who will spend the summer watching the games on home television. The technology has improved vastly in the last four years, with better image quality, higher definition and better sound systems.Sales of TVs grow exponentially during every international sports event. “Though the championship happens only every four years, the World Cup is the biggest festival for TV companies,” says Nabin Pokhrel at Skyworth in Kathmandu. “We do not want to miss out on this opportunity to present our latest models.”TV was invented only 90 years ago, and the technology is advancing at an accelerated pace. It has gone from large cathode ray tubes to wallpaper-thin QLED TVs now. With the convergence of internet with TV, the demand today is for smart TVs with bigger screens. Global market leaders such as Samsung, LG, Skyworth and Sony all incorporate these latest features like 43-55 inch screens, 4K or full HD resolution, smart features, fine sound system and LED backlights.Many companies are offering discounts up to 27% and gift vouchers this season. Some high-end brands are also offering limited editions: Skyworth’s thinnest Wallpaper OLED, Samsung’s 100% burn-in resistant QLED, Sony’s slanted Bravia OLED. They will surely blow a hole in your wallets, but you won't mind when the games kick off. <img width="534" height="1024" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d75f9c7e80680e0314dbjpeg.jpg" alt="">“Go beyond your initial budget and purchase a higher inch TV with internet and the option to upgrade, so that you won’t regret the decision for at least 5-6 years,” advises Alok Gupta at Samsung in Kathmandu. Or, you may want to forego monitors and invest in a high-end digital projector with a surround sound system to watch the action on your wall's virtual stadium.With TV companies going all out to cash in on the football fever, this might be a good time to go for that flat-screen 4K you have been eyeing. These gadgets will outlast FIFA, adding to your home entertainment system, and will be around for the 2022 games in Qatar.Samsung Model: UA55M5500 ARSHE Screen: 55 inch LED Operating system: Tizen HD Technology: Full HD Smart TV Resolution: 3840 x 2160 pixels Features: PurColor, Smart HUB, USB connection, one remote control, Evolution kit for software update, color and contrast enhancer, TV to mobile mirroring, sports mode, Dolby Digital Plus, Smart View, Bluetooth audio, and more. Offers: 11-27% cash back, 2 years warranty, 0% EMI on purchase, gift vouchers from Turkish Airlines, KGH hotels, Vayodha Hospital and a lucky draw for gift hampers. Offer price: Rs133,300 <img width="640" height="427" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d7629c7e80680e0314dcjpeg.jpg" alt=""><img width="640" height="412" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d7649c7e80680e0314ddjpeg.jpg" alt="">Skyworth Model: 55G6 Big Screen Android Screen: 55 inch LED Operating system: Android 6.0 HD Technology: 4K UHD Resolution: 3840 x 2160 pixels Features: Powerful front soundbar, Dolby Digital and DTS TruSurround, metal frame design, Bluetooth connectivity, voice search, cinema and sports mode, Google Play Store, Google Cast Offers: Up to 25% cash back Offer price: Rs97,356Sony Model: KD-49X7000E Bravia Screen: 49 inch Edge LED Operating system: Linux HD Technology: 4K UHD Internet TV Resolution: 3840 x 2160 Pixel Features: 4K picture processor X1, 4K X-Reality PRO, Bluetooth and Smartphone connectivity, TRILUMINOS display, dynamic contrast enhancer, live football sound mode, Open Baffle Speaker, 3 HDMI inputs, DTS Digital Surround and more. Offer: 20% cash back Offer price: Rs124,000 <img width="640" height="407" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d7679c7e80680e0314dejpeg.jpg" alt=""><img width="640" height="414" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d76a9c7e80680e0314dfjpeg.jpg" alt="">LG Model: 55UJ652T Smart TV Screen: 55 inch LED Operating system: WebOS HD Technology: 4K UHD Resolution: 3840 x 2160 Pixel Features: USB connectivity, 4 HDMI inputs, ultra slim, magic zoom, magic remote and mobile connection, single click access, Tellybean (video calling), unlimited content from LG store, expandable memory, 4 years warranty, and more. Price: Rs217,590Rowa Model: 65D1800A Smart Android Screen: 65 inch LED Operating system: Android 5.1 HD Technology: 4K UHD Resolution: 3840 x 2160 pixels Features: Black crystal panel, dual core A53 1.5HZ, Quad core, memory flash 1.5 GBDDR3/8GB flash, wireless WiFi default, multimedia video, 4000:1 contrast ratio, 178*178 view angle, 3 HDMI inputs, 1 year warranty, and more. Price: Rs162,075 <img width="640" height="479" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d76d9c7e80680e0314e0jpeg.jpg" alt=""><img width="640" height="424" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d7709c7e80680e0314e1jpeg.jpg" alt="">Hisense Model: HX55N3000UWT Smart TV Screen: 55 Inch LED Operating system: VIDAA Lite 2.0 HD Technology: 4K UHD Resolution: 3840 x 2160 pixels Features: 3 HDMI inputs and 2 USB ports, Dolby Digital audio, Internet features, preloaded Opera store, screen mirroring, easy user interface and smart view, 178 degree viewing angle, two built in speakers, and more. Price: Rs145,000Read also:<a href="https://www.nepalitimes.com/business/skyworth-world-cup-offer/">Skyworth world cup offer</a><a href="https://www.nepalitimes.com/business/road-to-russia-win-a-ticket-to-world-cup-2018/">Road to Russia: win a ticket to World Cup 2018</a>

Kicking off

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/2022110711110/6368d7459c7e80680e0314d1jpeg.jpg" alt="" width="1000" height="667"/><figcaption>Sudeep Acharya, CEO of Dish Home</figcaption></figure>There used to be a time when <a href="http://archive.nepalitimes.com/article/nation/nepali-radio-nepali-awaj,3728">listening to the radio was against the law</a> in Nepal. And today, anyone who travels to rural Nepal can see how the media landscape has changed - there are satellite dishes on the roofs of each household, and people easily tune in to Nepali and Indian TV channels.Today 43% of (sampled) population consumes TV content daily, (<a href="https://www.nepalitimes.com/banner/how-nepals-media-landscape-is-being-transformed/">Sharecast Initiatives Survey 2018</a>) but behind the journey of the country’s transformation is a decade-long story of struggle.<a href="https://www.dishhome.com.np/">Dish Media Limited</a>, a broadcast and transmission company with 30% market share in Nepal, otherwise known as Dish Home, was a pioneer in this area.  “Indian direct-to-home (DTH) providers in Nepal created a hype in the early 2000s, attracting many media companies with the promise of a growing market,” says Sudeep Acharya, CEO of Dish Home. “Companies believed they would soon double their investments, but instead everyone realized the need for proper homework.”In <a href="http://archive.nepalitimes.com/news.php?id=17184#.Ww-2be6FPIU">2010 the government granted authority</a> to six companies to operate direct-to-home Dish TV. Within a few months, Marigold Entertainment,  M Vision, and Home TV by Satellite Channel merged to form Dish Home. The reason was simple: growth of the business called for more content purchase and updated satellite—meaning a large investment that would not provide quick return, because growing the number of subscribers took time. Such risks were better shared with a team.In 2011, Dish Home invested 360 million in the business with loans from 14 different banks and financial companies, but it still did not turn a profit. The company approached the market continuously and aggressively, guided by the right to information and a missionto make TV a household necessity. Acharya says, “After years of hard work, by 2018 we can finally say that we have become a profitable media company reaching all corners of Nepal.”Dish Home also operates many subsidiary channels such as Channel DH Showcase, DH Showcase 2, Preview Channel, Plus Movie, Ramailo TV and DH Action Sports. It also broadcasts Indian serials and cartoons dubbed in Nepali, believing it could lead to the possibility of creating such content locally.The main challenge for Dish Home is going fully digital to comply with the regulations of <a href="https://www.itu.int/en/Pages/default.aspx">ITU</a>, an international governing body of communication technologies. Unlike in India or the U.S. where government provides subsidy on set up box, adapters or other technologies to go digital, in Nepal customers get no such facilities. As a result, 65% of the company’s total subscription, mostly outside Kathmandu, is still analogue. Another challenge is the open border with India, which allows for easy entry of illegal dishes in Southern Nepal.Despite the challenges, Acharya is upbeat about the future: Dish Home has planned exciting things for the upcoming the World Cup fever, broadcasting the games on DH Action Sports with live commentary in Nepali language. "At the moment, we are keeping the identity of the commentator in wraps, it you surely don't want to miss it!" says Acharya.

From luxury to necessity

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

Visit Nepal in the monsoon

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

Nepal’s bubble economy

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

Flouting rules caused Saurya tragedy

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