This paper provides a brief background to the political and socioeconomic context of the Hindu Kush Himalayas, an area that includes the mountain regions of South Asia. An overview of the common property resources of the mountain regions of South Asia is provided to illustrate the importance of these resources to the quality of life of the people in this region. The overview includes rangelands, water, and forest resources. These three common property resources also have the potential to growth and poverty alleviation in the mountain areas of South Asia. The second part of the paper focuses mostly on the re-emergence of participatory forest management in the Hindu Kush-Himalayas and argues that community-based natural resource management remains the key to growth and poverty alleviation in the region. The policy framework is analysed to emphasise the importance of enabling policies and accompanying rules to support participatory forest management in the region. Potential barriers to the implementation of participatory forest management are discussed and appropriate solutions are recommended.