https://youtu.be/-pr72QL_ScEAfter serving as a toy for the rich, for making an environmental statement, or be a hobby, <a href="http://archive.nepalitimes.com/article/nation/Be-smart-go-electric,3062" target="_blank" rel="noopener">electric cars</a> have suddenly become a necessity. As the global climate warms up and the world weans itself away from fossil fuels, there is suddenly a rush on battery-operated vehicles.In Nepal, the government deliberately refused to provide incentives to battery-operated vehicles for many years because it would reduce revenue, but two years ago, slashed taxes on electric vehicles and increased the taxes for diesel and petrol cars. Since then, electric car sales in Kathmandu have soared.Read also: <a href="https://www.nepalitimes.com/banner/from-a-fossil-past-to-an-electric-future/">From a fossil past to an electric future</a>, Om Astha RaiAt present there are over 500 electric cars, more than 1,500 battery two-wheelers and a few thousand electric three-wheelers on Nepal’s roads. But with Sajha and other bus companies poised to induct electric buses, and private owners showing a keen interest, <a href="http://archive.nepalitimes.com/blogs/kundadixit/2018/01/24/electric-cars-shock-fossil-industry/" target="_blank" rel="noopener">the electric car market is poised for growth</a>.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933499c7e80680e03df8ajpeg.jpg" alt="" width="327" height="327"/><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/6369334a9c7e80680e03df8bjpeg.jpg" alt="" width="2546" height="483">Agni Incorporated, which imports the popular Mahindra e2O, plans to convert its popular petrol KUV crossover to battery and bring it to Nepal early next year. With a 180 km range, the eKUV will cost Rs3,500,000 and be able to comfortably get to Pokhara with a fast charge along the way.Agni has already sold 400 two- and four-door e2O, and slashed prices on them from Rs3,100,000 to Rs 2,200,000 by reducing the range for city driving, and the model is selling well in Kathmandu and other metros.Continental Trading Enterprises introduced the electric version of its <a href="http://archive.nepalitimes.com/article/Nepali-Times-Buzz/The-electric-age,3419" target="_blank" rel="noopener">KIA Soul</a> two years ago and sales have picked up after the tax on similar petrol vehicles was hiked. Despite its boxy look and price, the e-Soul is doing well, and KIA is preparing to introduce the e-Niro crossover with a range of 380km next year.Read also: <a href="https://www.nepalitimes.com/editorial/climate-climax/">Climate Climax</a>, Editorial<a href="https://www.nepalitimes.com/opinion/decarbonise-now/">Decarbonise now</a>, Ajaya DixitChina’s BYD made high-profile launches of its e6s by having President Bidya Devi Bhandari, the National Planning Commission and the Nepal Electricity Authority ride around in them. But its main market is in buses, and earlier this month, <a href="https://www.nepalitimes.com/banner/20-electric-by-2020/" target="_blank" rel="noopener">got the Prime Minister to launch two of its e-buses on trial for Sajha Yatayat</a>.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/6369334c9c7e80680e03df8cjpeg.jpg" alt="" width="640" height="245">“We would like to use our best technology, and share our know-how to serve the Nepali market and the next generation, we see possibilities for e-mobility here,” Liu Xueliang of BYD Asia-Pacific Auto Sales Division told Nepali Times. BYD hopes to establish a training school for electric vehicle engineers, and provide electric buses for airside conveyance at airports like Kathmandu, Bhairawa, Pokhara and elsewhere.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/6369334e9c7e80680e03df8djpeg.jpg" alt="" width="1500" height="1000"><figcaption> </figcaption></figure>The main challenge for the spread of e-vehicles has been the lack of <a href="https://www.nepalitimes.com/business/electric-car-service-centre/" target="_blank" rel="noopener">charging stations</a>. KIA has installed a fast-charger in Kurintar halfway to Pokhara, and hopes to install 12 more around the country. Mahindra is also planning to build charging stations in Naubise, Mugling, Bharatpur and Pokhara for inter-city drivers.“Actually most e2Os are used for city driving, so the lack of charging stations is just a psychological barrier. Still, we will need them when the longer range KUV starts selling here,” says Agni’s Cabinet Shrestha, who is working on universal chargers that will work with any type of car. BYD also plans to establish 50 fast and slow charging stations on main highways, says Prasidha Panday of the BYD distributor in Nepal, Cimex Group.https://www.youtube.com/watch?v=RuOYwGgs43MDriving my REVA is stress-free since the car is easy to drive, clean, I can park anywhere and there are no hassles about refuelling.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933519c7e80680e03df8ejpeg.jpg" alt="" width="540" height="720">Sudha BasnetDoctorhttps://www.youtube.com/watch?v=B7ZSHg8Xu0QSuhrid Ghimire at Continental agrees: “Till now, no one has ever complained about running out of charge, EV owners are smart and think ahead, but it is our responsibility to add charging stations.”Before buying the KIA Soul, I was aware it was a city car and it has low ground clearance. But I was more attracted by its plus points like low operating cost, air conditioning and no gear clutch. Being associated with research on air pollution in Kathmandu, I wanted to take the initiation towards being a part of the solution.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933539c7e80680e03df8fjpeg.jpg" alt="" width="960" height="960">Arnico PandayRegional Programme Manager Atmospher, ICIMODThe National Plan of Action for Electric Mobility that the Prime Minister unveiled this month has three priorities: setting up a new entity to promote EVs, a national program on infrastructure and market, and financial incentives. The Plan hopes to turn 20% of public buses into electric ones by 2020.The Nepal Electricity Authority is already putting up 20 charging stations around the country to encourage<a href="https://www.nepalitimes.com/here-now/cleaner-air-with-greener-buses/" target="_blank" rel="noopener"> electric transportation</a>. For Bhusan Tuladhar of Sajha Yatayat, this is a great leap: “The introduction of the Action Plan means the government has taken ownership of e-mobility promotion.”Read also: <a href="https://www.nepalitimes.com/here-now/the-cost-of-light/">The cost of light</a>, Om Astha Rai<a href="https://www.nepalitimes.com/banner/20-electric-by-2020/" target="_blank" rel="noopener">20% electric by 2020</a>, Om Astha Rai<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933569c7e80680e03df90jpeg.jpg" alt="" width="1500" height="1061"><figcaption> </figcaption></figure>The other obstacle for e-mobility future is still taxes. Although customs duty on e-cars has been slashed to 10%, the tax on electric two-wheelers has been increased, and electric three-wheelers have been banned in some Tarai cities.The 50 paisa per litre that consumers pay as Petroleum Tax has now grown into a kitty of a billion rupees, and could be invested in clean energy public transport. Last year, Nepal imported Rs150 billion worth of petroleum products, nearly double of the value the previous year. The country’s strategy should be to reduce this fuel import bill by switching to EVs.Says Tuladhar: “I do not see electric cars taking over Nepal’s roads any time soon. Petrol and diesel vehicles will be around but we must make a start with electric public transport. It is good for public health because it will reduce pollution, and for the national economy.”https://www.youtube.com/watch?v=HD1TLWD4eLY<h2>E-scoots</h2>Arbinda Tuladhar, 60, has been using electric scooters to commute 16km one way from Swayambhu to Kathmandu airport. Being an electrical engineer, he has struggled with many brands of battery-powered two-wheelers but always found the torque inadequate.Finally, he has found one with enough oomph: the Japanese-made Terra Eco. “With this one, I don’t have to stop half-way up the incline on my daily commute.” Terra is one of several two-wheeler brands in Nepal that offers many advantages over petrol-powered ones. It started selling in Nepal in 2014, and has sold more than 1,000 units.Now, Chinese scooters brands like Bella and NIU have also opened showrooms and are tapping the greater awareness about the environment among Nepal’s price-conscious youth.Says Shyam Sapkota of Terra Motors Nepal: “We did a survey last year and found out that out of 1,800 respondents, most were senior citizens who wanted comfort and ease, and youths who wanted affordability.”Arbinda Tuladhar, for instance, spends Rs250 on average on electricity and maintenance, compared to Rs4,500 a month if his scooter was petrol. The upfront cost of electric scooters also range from Rs100,000 to Rs260,000, which is similar to the prices of petrol scooters. the pricetag could come down further if the government cut the 10% customs duty and 13% VAT, and since battery prices have gone down worldwide, the price of e-scooters will be even lower in future.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933599c7e80680e03df91jpeg.jpg" alt="" width="574" height="1024">The scooters provide up to 80-100km on a full charge, and can pull a pillion rider even on the uphill of White Gumba. They can be charged at home like mobile phones. Terra and Bella both plan to introduce more powerful scooters in 2019, as customers want fast charge and extended driving range. NIU is setting up a scooter charging station in Labim Mall.Electric scooter drivers in the past did not need a driving license nor did they have to register their vehicles, but the government has now made both mandatory. This dampened demand, but now it has picked up again. Competition is also growing, and Terra now offers free lifetime maintenance, while NIU will exchange your petrol scooter and minus it from the price of a brand new one.E-scooters are also spreading outside the Valley. Terra has dealers in Narayanghat, Butwal and Lahan, NIU has reached Pokhara, Itahari and Butwal, and Bella has 18 dealers across the country.

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Electri-City Cars

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107161116/636921c09c7e80680e03a0edjpeg.jpg" alt="" width="3024" height="2569"/><figcaption>Photo: KUNDA DIXIT</figcaption></figure>President Donald Trump may have announced that he intends to withdraw from the Paris Climate Accord, but the United States is still in.US cities, states and big companies like the ones here in Silicon Valley have pledged to do even more to keep to decarbonisation targets agreed to in Paris in 2015, and have come together in an informal coalition calling itself ‘We Are Still In’.As the United States loses its leadership role in international negotiations, the country’s agenda is being carried by this unofficial group in events like the <a href="http://globalclimateactionsummit.org/#t" target="_blank" rel="noopener">Global Climate Action Summit</a> that is bringing 3,000 delegates from around the world to San Francisco this weekend.“The Paris climate accord is alive and well in the US because of this strong alliance of American voices from businesses, cities, states and universities committed to meeting greenhouse gas emission targets,” says <a href="https://medium.com/@adam.stern/bay-area-can-lead-on-food-and-climate-change-d4583b74ad07" target="_blank" rel="noopener">Adam Stern</a>, executive director of <a href="https://www.acterra.org" target="_blank" rel="noopener">Acterra</a> which works on local solutions to global warming in the Bay Area.The Global Climate Action Summit is being co-hosted by California Governor Jerry Brown and New York mayor Michael Bloomberg. Also attending are former US Vice President Al Gore, Hollywood actors Alec Baldwin, <a href="https://www.bleedingcool.com/2017/11/04/harrison-ford-climate-change-speech/" target="_blank" rel="noopener">Harrison Ford</a> and <a href="http://www.courant.com/news/connecticut/hc-yale-climate-change-conference-20170919-story.html" target="_blank" rel="noopener">Leonardo DeCaprio</a> as well as <a href="https://globalclimateactionsummit.org/delegates-attending-gcas/" target="_blank" rel="noopener">corporate leaders, climate scientists and researchers</a>.<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107161116/636921c49c7e80680e03a0eejpeg.jpg" alt="" width="640" height="643">This is ‘track two’ on climate action and involves non-state and sub-national actors from all over the world. In the run-up to the Summit, Governor Brown on Monday signed an executive order to make California carbon neutral by 2045. He also signed bills last week to block new oil drilling off the shores of his state in defiance of the Trump government’s move to open California waters to oil drilling.Brown set up the <a href="https://www.under2coalition.org/about" target="_blank" rel="noopener">Under2 Coalition</a> that has got 200 local and national governments around the world committed to keeping global temperature rise to under 2°C by 2050 as agreed to in Paris.Besides the conference panels, the Summit will have <a href="https://www.mercurynews.com/2018/09/08/thousands-to-march-against-climate-change-in-san-francisco-ahead-of-world-summit/" target="_blank" rel="noopener">demonstrations</a>, side events including workshops on <a href="https://www.acterra.org/climate-friendly-cuisine/" target="_blank" rel="noopener">climate-friendly food industry</a>, exhibits and tours. The  <a href="https://www.greenpeace.org/usa/news/historic-greenpeace-ship-arctic-sunrise-arrives-san-francisco-advance-global-climate-action-summit/" target="_blank" rel="noopener">Greenpeaceship Arctic Sunrise</a> has docked at the port here to draw attention to climate action.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107161116/636921c69c7e80680e03a0efjpeg.jpg" alt="" width="964" height="546"><figcaption>Demonstrators urging action on climate change in San Francisco on Sunday in defiance of the Trump Administration's roll back from the Paris Climate Accord. Photo: EMILY JOVAIS / EAST BAY NEWS</figcaption></figure>It is ironic that the Summit is being held in a country that is led by a climate denier. However California has some of the most progressive legislation on emission controls. Brown has set in motion action that will reduce the state’s greenhouse gas emissions to 40% below 1990 levels in the next 12 years.In fact, Brown, Bloomberg and other Americans are trying to bypass Trump to try to save the planet from the catastrophic effects of climate change during a year when the planet has faced unprecedented extreme weather events.Jerry Brown himself said in an interview this week to the <a href="http://mercurynews.ca.newsmemory.com/publink.php?shareid=06d558057" target="_blank" rel="noopener">San Jose Mercury News</a>: “The Republicans, the deniers in Washington, the president, they are really deviant to the international norm. It’s important that America maintain its climate actions through the states and the cities, private organisations and non-profits. We can’t just let Trump undermine and sabotage America’s part.”<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107161116/636921d09c7e80680e03a0f0jpeg.jpg" alt="" width="1500" height="602"><figcaption>The new Google headquarters that is 100% powered by solar panels on the roof. Google and other Silicon Valley companies are leading the shift to zero carbon policies. Photo: GOOGLE</figcaption></figure>Silicon Valley tech companies are also taking a lead in green business. The Tesla plant is located in Fremont is producing electric cars, including the latest Model 3. <a href="https://www.apple.com/environment/climate-change/" target="_blank" rel="noopener">Apple’s new futuristic headquarter building and its outlets  derive 100% of its power from solar panels</a> on the roof, half the electricity at Facebook’s open office in Palo Alto comes from renewable sources. Google last year said it was sourcing all its energy at its offices here and worldwide from solar and wind energy.Says Adam Stern of Acterra: “Despite President Trump’s efforts to withdraw the US from its climate commitments, the Summit will demonstrate an irrepressible momentum among businesses, cities and other sub-national governments, and civic leaders to fulfill the goals of the Paris climate accord.”<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107161116/636921d39c7e80680e03a0f1jpeg.jpg" alt="" width="675" height="519">

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Bypassing Trump on climate action

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

Visit Nepal in the monsoon

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

Nepal’s bubble economy

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

Flouting rules caused Saurya tragedy

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

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Walking, working, worshipping in Patan