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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 Donald Trump administration is yet to decide the fate of the ongoing projects under MCC. 

Issuing a press statement, the US Embassy in Kathmandu said:  “In February 2025, the Secretary of State approved a specific exception to the 90-day pause on US foreign assistance for the MCC Nepal Compact, while the US government review on US foreign assistance continues.” 

Under this exception, the MCC Nepal Compact is authorized to continue with full implementation. MCC and the US mission in Nepal continue to engage stakeholders in support of a constructive outcome of the review, the statement said.

The US. Embassy added MCC is working closely with the Ministry of Finance and MCA-Nepal to ensure that the activities undertaken or initiated under the compact, including potential new obligations, are aligned with US and Nepal’s priorities and ensure transparency, sound governance, effective delivery, and prudent risk management.

The US Embassy also reaffirmed America’s commitment to its bilateral relationship with Nepal and supporting the Nepali people through efforts that promote prosperity and long-term economic resilience. 

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.

There’s a popular Calvin and Hobbes quote that goes: Never in the history of calm down has anyone calmed down by being told to calm down. For me, no other quote has resonated as much as this one, especially in the past few months when everyone around me has been telling me to calm down or take it easy the minute they see I’m a little worked up. But is there anything such as a stress-free life? Life demands so much from you and it’s not actually all that bad. 

I don’t understand why people see every little stress as something negative and even scary. While chronic stress is definitely not a good thing, I feel daily stresses actually keep you on your toes and stop you from becoming complacent. They make you think, ideate, and come up with effective solutions. It can put your brain in problem solving mode and push you out of your comfort zone. There is something called positive stress (eustress) and studies have shown that it can actually be beneficial for your overall well being. 

And to be honest, there is no avoiding stress. There are different chores or things that go wrong in the house that need your attention. We all know how frustrating it is to get anything done in Nepal. One simple task needs a dozen phone calls. At work, you have deadlines to meet, difficult colleagues to deal with, issues that need ironing out, and bureaucratic hurdles that give you splitting headaches. Anticipation, excitement, and even anger sometimes can cause stress that motivates you to take action and change what you don’t like about your life. 

I’m not talking about chronic stress. I understand that has a lot of negative health impacts but acute stress, those that come and go quickly, isn’t something that needs to be feared and shunned. Most people around me don’t seem to realize that stress is a part of life and you can’t escape it simply by ignoring your problems or ‘letting go’. Talking about your problems or dwelling on them is often seen as marinating in negativity. But for me, discussing issues with my parents or partner or contemplating about them on my own makes me more likely to be able to fix what’s wrong. On the other hand, if I were to simply try to push problems out of my mind (as I’m often told to) I’d inevitably be consumed by them.

I must confess that I’m actually on the verge of losing it if one more person tells me to calm down. When people tell me to let things slide, they are asking me to put up with rude behavior, be okay with not getting things done, or give time for things to settle on their own (which I think is such a cowardly and lazy thing to do). All this, I believe, will make me vulnerable and unable to cope with my problems in the long run as it will hamper my decision-making skills and take me from being an action-oriented to an avoidant person. 

As a society, we have adopted a negative mindset towards stress. The moment you tell someone you are stressed or worried, they tell you to take a deep breath, calm down, or just let it go, sometimes even without asking what’s bothering you. ‘Don’t stress’ is the lamest advice I have ever heard. It’s like telling an anxious person not to be anxious or someone who has the flu or a stomach ache to just pretend they aren’t ill. It’s the most useless advice because it doesn’t work and it also shows you that the other person doesn’t care about you or your problems. Have you watched the same people bending backwards trying to fix things when it’s their or their loved ones’ lives in question?

According to Dr Richard Shelton, Department of Psychiatry at the University of Alabama, Birmingham, stress is the body’s fight or flight response being activated and it’s meant to be protective, not harmful. The key, he says in an article I read recently, is viewing stressful situations as a challenge rather than a roadblock.