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It has been more than two months since the inauguration of the World Expo in Osaka, Japan, but Nepal’s pavilion remains unopened. The expo, which began on April 13, will continue until October 13.

Construction was delayed due to negligence on the part of key line ministries, namely the Ministry of Industry, Commerce and Supplies, and the Ministry of Foreign Affairs. The delay stems from a protracted dispute between government agencies and the contractor. Despite selecting a private company for the project two years ago, poor coordination and unresolved issues have prevented its timely completion.

A government official described the situation as an embarrassment for Nepal, noting that 157 of the 158 participating countries have already opened their pavilions and are actively engaging with visitors and investors. “This has exposed Nepal’s governance failure on the global stage,” the official said, adding that preparations for the pavilion had started two years ago. Government officials put blame on the Ministry of Foreign Affairs for the entire delay. 

The government is blaming the contractor for the delays. Japanese and international media have begun reporting on Nepal’s lagging progress. Although the contractor, who had halted work, resumed construction just a week ago, it is still unclear when the pavilion will be completed.

This week, the Japanese Association for International Expositions confirmed that construction of Nepal’s pavilion has resumed. Japanese media report that work was suspended in January due to non-payment. Nepal has now assured the Japanese side that construction will be completed within a month.

Two months into the expo, ticket sales are rising steadily. Organizers say daily visitor numbers are increasing, with the reservation website often crashing around midnight due to high demand for slots at popular pavilions and events. Unfortunately, Nepal is missing out on this vital window for exposure and engagement. Since opening on April 13, the expo has sold approximately 3.75m tickets, which is nearly 30 percent of the 13.44m total sold since ticket sales began in November 2023 through June 6. 

The Nepal Stock Exchange (NEPSE) plunged by 1. 28 points to close at 2,653.47 points on Wednesday.  

The sensitive index, however, surged by 0. 49 points to close at 452. 97 points.

A total of 23,446,949-unit shares of 314 companies were traded for Rs 9. 08 billion.

Meanwhile, Pure Energy Limited (PURE) was the top gainer today with its price surging by 10. 00 percent. Likewise, Corporate Development Bank Limited (CORBL) was the top loser as its price fell by 10. 00 percent.

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

Recently appointed Governor of Nepal Rastra Bank, Biswo Poudel, has raised concerns over the concentration of bank and financial institution loans among a limited group of individuals and business households. Speaking during a discussion on the Bank and Financial Institutions (First Amendment) Bill in the Finance Committee, Governor Poudel emphasized the growing debate around the unequal distribution of banking loans and the need to clearly separate the roles of bankers and businesspersons.

A key concern is that a significant share of financial sector loans is directed toward high-income individuals and households, while low-income groups and rural communities remain largely underserved. This disparity has reignited calls to reform the banking structure, including proposals to limit the overlap between those who run banks and those who borrow from them.

Although the number of banks and financial institutions in Nepal has decreased—largely due to the central bank’s push for mergers and acquisitions since 2010—branch expansion has continued nationwide, increasing visibility at the local level. This expansion has intensified competition in the banking sector, often with a strong focus on profit.

On the surface, banks appear to be serving various segments of society. However, credit access remains skewed, with banks primarily extending loans to urban elites, established industrialists, and salaried employees—while collecting deposits from rural areas. Governor Poudel publicly stated this disparity, noting that banks are not providing adequate financial support to farmers, low-income earners, and those lacking formal documentation.

The consolidation of banks through mergers has enabled them to set interest rates at their discretion, which in some cases has led to unhealthy competition or even informal agreements that exclude weaker borrowers. While banks continue to report ample liquidity, reluctance to lend—especially to small and medium enterprises (SMEs)—is contributing to economic stagnation and job loss. Many such businesses, key drivers of employment and production, are struggling to access credit.

This lending imbalance has also contributed to a rise in non-performing loans. Currently, bad loans account for around five percent of total bank lending. The inability of the lower economic class to access institutional credit has pushed many into the hands of informal lenders charging high interest rates, commonly referred to as ‘meter interest’. This, observers argue, is a result of institutional failure to provide inclusive financial services.

Nepal has long been recognized as one of South Asia’s most unequal economies. Over the past four decades—alongside the growth of financial institutions—economic inequality has widened. While banks have helped the wealthy manage and grow their assets, they have done little to address the financial needs of the poor. Critics argue that those with control over banks are often selected from elite business circles, giving preferential treatment to their close associates when it comes to loan disbursement.

In this context, the proposed amendment to the Bill—to separate the roles of bankers and businesspersons—has gained renewed attention. Although discussions have stalled in the past, Governor Poudel’s recent remarks have brought the issue back into focus.

According to data from Nepal Rastra Bank, the total number of deposit accounts in banks and financial institutions has reached over 511,000—exceeding the population. However, this figure does not indicate universal financial access, as many individuals hold multiple accounts. Significantly, only about four percent of account holders have access to credit, while the remaining 96 percent do not, often due to a lack of collateral or financial literacy.

Governor Poudel’s comments underscore the need for more equitable access to financial resources, particularly for those who contribute through remittances or small rural deposits but remain excluded from formal credit. While some bankers have generated substantial profits, returns for shareholders remain modest, prompting questions about wealth distribution within the sector.

Ultimately, the broader concern is that economic development and poverty reduction will remain out of reach unless financial access is expanded equitably. Past assumptions—such as increased bank branches equating to increased financial inclusion—are misleading. What matters more is who controls capital and who benefits from credit distribution. Most banks are overseen by businesspersons, and those within their networks often enjoy easier access to loans.

The price of gold has increased by Rs 900 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 195, 500 per tola today.

Similarly, the price of silver has increased by Rs 65 and is being traded at Rs 2, 225 per tola today.