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The Manaslu region is witnessing a boom in tourism with more foreign tourists visiting the  region this tourism season than in the corresponding period of the last fiscal year. 

According to the Manaslu Conservation Area Project (MCAP), which keeps data on tourists, 1,500 more tourists have visited the Manaslu region during the tourist season of this fiscal year compared to the corresponding period of the last fiscal (2023-24).

MCAP stated that 10,600 foreign tourists visited the region in 2024, compared to 9,177 in 2023. Santosh Sherchan, head of MCAP, said the region draws more tourists from Europe and America than from South Asian countries. In 2024, the highest number of tourists were from France (1,335), he informed, followed by 1,181 German citizens and 796 Americans. As for tourists from SAARC member-states, Indian nationals stood at the top with 159 individuals trekking to the region. The region also draws tourists from other countries, including the Netherlands, the United Kingdom, Australia, Spain and China.

To enter the Manaslu region, tourists from SAARC member-states have to pay Rs 1,000 per person whereas the individual entry fee is Rs 3,000 for tourists from other countries. Tourists have to pay at the counters at Bhrikuti Mandap in Kathmandu and Damsite in Pokhara. According to MCAP chief Sherchan, tourists who have not paid entry fees at either of the two places have to pay double the regular fees at the checkposts in MCAP’s Jagat and Samagaun for entering the region.

Since the Manaslu conservation area is a restricted area, tourists must also obtain permissions from the Immigration Department, which issues one-week permits to visit the area, including Chum and Nubri valleys. Tourists have to pay $50 per person for the Chum valley during the tourist season and only $25 during off-season.

The tourists have to pay $70 per person for the Nubri valley during the season and $35 for off-season. If tourists want to visit the area for more than a week, extra charges apply. The Manaslu region, which is a restricted area, includes seven wards of Chumanubri rural municipality. From this year, the municipality has also started charging domestic tourists as well.

The municipality started collecting revenues from last September. The conservation area covers ward numbers 1 to 7 of Chumanubri rural municipality. Samagaun, Lho, Prok and Bihi VDCs fall under the Nubri valley whereas Chumchet and Chekampar constitute the Chum valley. The Manaslu region has been open to tourists since 2005.

Nepali authorities and the International Monetary Fund (IMF) team have reached a staff-level agreement for the fifth review of Nepal’s economic reform program supported by the IMF’s Extended Credit Facility (ECF) arrangement.

The agreement is subject to approval by the IMF Executive Board which will give Nepal access to about $40.6 million in financing.  The agreement is subject to approval by the IMF’s Executive Board. Upon completion of the Executive Board Review, Nepal would have access to SDR 31.4m (about $40.6m), bringing the total IMF financial support disbursed under the ECF to SDR 219.7m (about $283.9m), from a total of SDR 282.42m, according to the statement.

The economic recovery that began in the fiscal year 2023-24 was disrupted by the severe floods in September 2024, which caused widespread damage across critical sectors and further dampened the still-weak domestic demand. Inflation accelerated to 6.1 percent in Dec 2024 due to a spike in food prices following the floods, the statement says.

Nepal’s external position continued to strengthen, bolstered by robust remittances and subdued imports. Accordingly, revenue growth remained modest. Amid the ongoing correction from the post-pandemic credit boom, vulnerabilities in the financial sector are increasing, with the banking sector's non-performing loans reaching 4.4 percent in October 2024, and the financial health of the savings and credit cooperatives (SACCOs) sector deteriorating.

“Growth is expected to gather pace, exceeding 4 percent in 2024-25, supported by stronger public capital expenditure, including on post-flood recovery and reconstruction efforts.

Relatedly, imports are expected to rebound in the second half of the year. Flood-driven food inflation is expected to ease as transport networks are repaired and agricultural output recovers improving the food supply. However, the outlook is subject to important downside risks, including under-execution of growth-enhancing capital projects, an increase in financial sector vulnerabilities, and potential disruption to policy continuity and reform implementation.

Against this background, policies and reforms envisaged under the ECF-supported program remain well-placed to help preserve macroeconomic stability and strengthen Nepal’s policy framework. Growth-friendly fiscal consolidation—by accelerating capital expenditure coupled with stronger revenue mobilization—is critical to boost sustainable and inclusive economic growth.

Timely execution of spending will further support this effort. Monetary policy should continue to follow a data-driven approach to maintain price and external stability while supporting growth. With amendments to the AML Law enacted, the next steps would be to focus on the effectiveness and application of the new legal framework. Amendments of the NRB Act are key to strengthening the central bank’s independence and governance.

The Nepal Stock Exchange (NEPSE) gained 52. 36 points to close at 2, 665. 45 points on Wednesday.

Similarly, the sensitive index surged by 8. 65 points to close at 448. 80 points.

A total of 17,692,819-unit shares of 322 companies were traded for Rs 9. 20 billion.

Meanwhile, Corporate Development Bank Limited (CORBL) and Dolti Power Company Limited (DOLTI) werethe top gaines today, with theit price surging by 10. 00 percent.

Likewise, Barahi Hydropower Public Limited (BHPL) was the top loser as its price fell by 8. 21 percent.

At the end of the day, total market capitalization stood at Rs 4. 42 trillion.

In the dynamic world of finance and business, bad debts are often perceived as failures—a sign of inefficiency or mismanagement. Similarly, in nature, a tree shedding its leaves is sometimes mistaken as a sign of decline. Yet, if we look closer, nature offers a profound insight: growth, decay and renewal are inevitable stages of a healthy, enduring cycle.

A leaf begins its journey as a vibrant, essential part of a tree, contributing to photosynthesis and nourishing the plant. Over time, it ages, loses its vitality and eventually falls to the ground. This process is not a failure but a necessary step in the tree's life cycle, clearing space for new growth and sustaining the tree’s longevity.  Bad loans in financial systems mirror this natural process. A loan begins with a promise of enabling growth for both borrower and lender. However, economic downturns, policy constraints, mismanagement or unforeseen circumstances can lead loans to become non-performing. Like a decayed leaf, a bad loan may no longer serve its original purpose but offers valuable lessons and opportunities for renewal.

Rather than viewing decayed leaves or bad loans as mere losses, we should see them as integral parts of a natural cycle. Decay represents not the end but the beginning of renewal. A tree sheds old leaves to sustain health and make room for fresh growth. Similarly, financial systems must accept the inevitability of some failures while focusing on recovery, restructuring and learning from past mistakes.

This perspective encourages resilience and optimism. While addressing the causes of bad loans is essential, it is equally important to recognize that not every loan will succeed. The goal is to ensure that the overall system remains robust—like a healthy tree that thrives despite shedding some leaves.

To preserve the health of a loan portfolio, just as trees need proper care, several key actions are essential. Financial institutions must start by performing comprehensive background checks and analysis before issuing any loans. Throughout the loan's lifetime, they should keep close watch on both the borrower's financial situation and broader market trends. When borrowers face difficulties, lenders should offer various forms of assistance, including loan modifications and expert advice. Likewise, lenders must stay nimble and ready to adjust their approach as economic conditions and industry dynamics shift.

Viewing bad loans as part of the renewal cycle will shift the narrative from despair to action. A tree does not stop growing because some leaves decay, nor should financial institutions or economies falter because of setbacks. New opportunities—fresh borrowers, businesses and innovations—will continue to drive progress. We must also recognize the contribution of both the fallen leaf and the bad loan. Each played a vital role in its trajectory, enabling progress along the way. Therefore, it is essential to elevate our mindset, address systemic gaps and move forward with a renewed focus on sustainability and resilience.

Bad loans are not the end of the road; they are reminders of the cyclical nature of growth. Blaming individuals or departments for a non-performing loan without clear evidence of intent overlooks the collective and systemic factors at play. By adopting the lessons of nature, financial systems can foster innovation, recovery and growth. Just as a tree flourishes despite shedding leaves, financial systems should focus on renewal and resilience. With a forward-looking mindset, we can create a robust ecosystem that thrives through challenges and embraces the natural process of growth and renewal.