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Prime Minister KP Sharma Oli has said the three pillars of the BIMSTEC Summit - Prosperity, Resilience and Openness - not only align with the Sustainable Development Goals, but also resonate deeply with Nepal's national aspiration of 'Prosperous Nepal, Happy Nepali'.

Addressing the BIMSTEC Summit in Bangkok of Thailand today, Prime Minister Oli stressed that BIMSTEC must not only navigate the changing tides but also seize the opportunity to reinvigorate our regional cooperation.

"I believe that the theme of the Summit –Prosperous, Resilient and Open BIMSTEC, provides us with that compass –a compass that is pro people, pro prosperity and pro welfare," he argued.

The Prime Minister mentioned, "Building an integrated Bay of Bengal region is a must to unlock our potential and capitalize on the complementarities we possess.  Additionally, recognizing that not all economies in our region are equal, we must extend preferential support to Member States with special needs to enable them to share common prosperity."

Saying that climate change has posed an existential threat to entire humanity, he opined that for Nepal, the stakes are even higher. Our high Himalayas are perennial water towers and cooling stations of Asia.

Nepal’s economy is projected to grow 4.5 percent in FY25, up from 3.9 percent in FY24, despite significant natural disasters in late 2024. Growth is expected to be driven by increased domestic trade, hydropower generation and paddy production, according to the World Bank’s latest Nepal Development Update: Leveraging Resilience and Implementing Reforms for Boosting Economic Growth, released on Thursday.

The report also forecasts that Nepal’s economy will grow at an average annual rate of 5.4 percent in FY26 and FY27, driven largely by the services sector.

“Boosting private sector-led economic growth is critical to creating the jobs that Nepal needs. To achieve this, Nepal can build on its impressive track record of resilient growth backed by implementing key structural reforms,” said David Sislen, World Bank Country Division Director for Maldives, Nepal, and Sri Lanka.

The report highlights downside risks to the economic outlook, including geopolitical and trade-related uncertainty. It also points to the potential further deterioration of asset quality in Nepal’s financial sector, the risk of policy inconsistency arising from frequent bureaucratic changes in the government, and delays in the execution of the capital expenditure budget.

“The Nepal Development Update provides valuable insights on recent economic developments and highlights Nepal’s resilient growth. Boosting growth further to meet the country’s 16th Plan targets requires effective execution of the capital budget and timely completion of ongoing projects,” said the Vice-chairperson of the National Planning Commission, Shiva Raj Adhikari. The Nepal Development Update, produced biannually, offers a comprehensive analysis of key economic developments over the past year, placing them within a long-term global context.

The events of March 28, 2025 at Tinkune remain shrouded in uncertainty. What started as a pro-monarchy demonstration quickly spiraled into a violent confrontation between protestors and police. Protestors claim the situation escalated when police fired teargas shells while they were assembling for a peaceful demonstration. On their part, police officials argue they had no choice but to intervene after some commanders allegedly urged crowds to advance toward the airport and the parliamentary building.

In the aftermath, police arrested Rastriya Prajatantra Party (RPP) leaders Rabindra Mishra and Dawlshamsher Rana for their alleged involvement in inciting a mob that vandalized multiple office buildings and private properties in the Tinkune area.  Authorities are now collecting evidence to file cases against them, while Durga Prasai—reportedly named as a protest commander—remains on the run. 

The Ministry of Home Affairs and Nepal Police are under fire for their handling of the protests. Reports indicate that officers used live rounds on demonstrators, with at least 20 people injured in the shootings. Tragically, two individuals—including a journalist—lost their lives, while dozens more sustained injuries. The police have admitted to the shootings, claiming they aimed to defuse tensions.

Adding to the chaos, misinformation and disinformation have flooded social media. Fake videos falsely linked to the Tinkune incident have been widely circulated, making it even harder to determine the truth. Protestors also launched a targeted attack on media houses, vandalizing the offices of Annapurna Media Network and Kantipur Television and even attempting to set them on fire.

Surprisingly, international media rights organizations and democratic nations—including the United States and the European Union—have remained silent. This marks a stark departure from their usual strong stance on press freedom violations in Nepal. The silence raises questions about whether human rights and freedom of speech are still priorities for the global democratic community. Some analysts even speculate that the shift could be linked to Donald Trump’s return to the US presidency.

Amid the growing controversy, there is mounting pressure on the government to establish an independent commission to investigate the Tinkune incident. Such a body could uncover the truth, ensure justice for victims, and hold those responsible accountable. However, Nepal’s major political parties have shown little interest in forming such a commission.

The incident has also exposed serious flaws within Nepal’s security apparatus. First, there was a lack of coordination among agencies. Second, security forces failed to gather intelligence on Prasai’s plans in advance. Lastly, Nepal’s law enforcement faces severe shortages of essential equipment, with no significant procurement in the last decade.

The government has pointed fingers at former King Gyanendra Shah, alleging that he played a role in orchestrating the protests by appointing Prasai as a commander. On March 27—just a day before the demonstrations—Shah met with Prasai, further fueling suspicions. Prime Minister Pushpa Kamal Dahal has publicly stated in Parliament that the former king was involved and "will not be spared." However, it remains unclear what legal actions, if any, will be taken against him.

Meanwhile, political leaders are busy countering the pro-monarchy narrative that the republican system has failed Nepal. Nepali Congress General Secretary Bishwa Prakash Sharma has sought to shift the debate by presenting comparative data on development under monarchy versus republican governance. Kathmandu Mayor Balendra Shah’s move to fine the former king for the environmental damage caused by protestors has also drawn mixed reactions. Major political parties who criticized Mayor Balen’s activities in the past are now praising him, while pro-monarchy forces have decried the mayor’s action.

Despite their shared goal of restoring the monarchy, pro-monarchy factions remain divided. Rastriya Prajatantra Party (RPP) leaders Rajendra Lingden and Kamal Thapa, while supporting the broader movement, chose not to participate in the March 28 protests. In contrast, Mishra and Rana did, despite warnings that Prasai’s involvement could lead to violence.

Leadership changes have also added to the instability. With Nava Raj Subedi placed under house arrest following the protests, Jagman Gurung has taken over the movement’s leadership. However, internal conflicts continue to plague the royalist forces, threatening their momentum.

India’s influence has also been a topic of debate. Last week, the CPN-UML had to issue a formal statement clarifying that it never accused India of backing the pro-monarchy movement. Despite this, some communist leaders continue to push the narrative that India is supporting the royalist cause. Meanwhile, Nepal’s Ambassador to India, Shankar Sharma, recently met with Uttar Pradesh Chief Minister Yogi Adityanath, sparking speculation about whether India—or at least some of its political figures—has a stake in the unrest.

The pro-monarchy movement shows no signs of slowing down, with protestors vowing to continue demonstrations despite the setback on March 28. However, the movement faces internal fractures, wavering political support, and government crackdowns. Whether the former king himself will break his silence remains an open question, but his close aides insist that he does not take sides in political matters.

The tourism industry is struggling to reach the pre-covid numbers, with tourist arrivals via air dropping by 2.01 percent in the first quarter of 2025. 

According to the Nepal Tourism Board (NTB), a total of 298,558 international visitors arrived between January and March 2025, down from 304,693 in the same period of 2024. The decline, particularly pronounced in March, has been attributed to multiple factors, including a nighttime shutdown of Tribhuvan International Airport, Nepal’s primary gateway, from November to March. The airport’s reduced operations to facilitate runway upgrades limited flight schedules during peak travel months, resulting in shortage of flights, lengthy transits and exorbitant ticket prices. Industry people say this forced tourists to divert to other destinations. 

While January 2025 showed a slight improvement in arrivals compared to January 2024, the momentum faltered in February and March. The most significant decline occurred in March when international arrivals fell to 121,687—a 5.05 percent drop from the 128,167 recorded in March 2024. This figure also fell short of the pre-pandemic benchmark of 127,351 visitors in March 2019.

March marks the beginning of the spring tourism season which is considered the best for trekking and mountaineering. The spring season sees a lion’s share of mountaineering expeditions coming to Nepal. Most of the expeditions on Mt Everest, the tallest peak on earth, are organized in this season.

According to tourism entrepreneurs, tourist numbers will continue to increase till May which marks the end of the climbing season and the beginning of monsoon rains. While tourist numbers dip during the three months of June, July, and August, it starts picking up once the autumn season begins in September. The autumn season continues through December. 

Tourist arrival figures released by NTB show March witnessed declines across most regions compared to the previous year. While arrivals from China fell by 5.4 percent, the number of visitors from South Asian (SAARC) countries fell by 13.4 percent and those from Europe decreased by 10.5 percent. India remained the top source country in the review month with 21,412 visitors, followed by China (11,443) and the United States (11,092). Other notable contributors included Sri Lanka (8,886), the United Kingdom (5,995), Thailand (4,986), Germany (4,709), Australia (4,228), Myanmar (3,754) and Bangladesh (3,576).

In terms of region, SAARC countries accounted for 35,287 tourists (29 percent), followed by Asian nations (except SAARC nations) 31,353 (25.8 percent), Europe 25,742 visitors (21.2 percent), the Americas 13,907 (11.4 percent), Oceania 4,643 (3.8 percent) and the Middle East 2,732 (2.2 percent).