FNCCI president announces '6 Pillars, 60 Initatives' scheme

Kathmandu, May 7

Newly elected president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Anjan Shrestha has announced a '6 Pillars, 60 Initiatives' programme for his three-year tenure.

Speaking at an introductory and interaction programme with newly elected office-bearers after assuming office, in Lalitpur on Thurday, he said the programme would prioritise the long-term interests of the private sector, the creation of an investment-friendly environment, and the institutional strengthening of the federation.

“I have prepared the ‘6 Pillars, 60 Initiatives’ programme with priority given to the long-term interests of the private sector, the creation of an investment-friendly environment, and the institutional strengthening of the FNCCI. The implementation of strategic programmes and action plans in line with this framework will remain my priority during my three-year term,” Shrestha said.

Outlining the priorities of his tenure, he expressed commitment to implementing detailed action plans related to it in phases. The programme aims to strengthen the institutional capacity of the federation and make the collective voice of the private sector more effective, credible and result-oriented.

It also includes priorities such as protecting the rights and interests of the private sector, promoting industries and businesses, ensuring and expanding investment security, enhancing the effectiveness of policy advocacy, and strengthening coordination with member organisations in line with the federal structure.

Likesie, modernising service delivery, developing digital systems, promoting youth entrepreneurship and innovation, and expanding international trade and economic diplomacy and also the priority.

Outgoing FNCCI president Chandra Prasad Dhakal stressed that the federation’s agenda should focus on promoting the private sector.

He said that during his tenure, the Federation had made efforts towards the country’s economic development and prosperity, adding that the government had endorsed the Private Sector Protection and Promotion Programme (PSPPP) through the Cabinet as proposed by the FNCCI, which he said would support the protection and promotion of the private sector.

Siilalry, former president Mahesh Lal Pradhan stressed that the federation should play a stronger role in creating an industrial and business-friendly environment in the country. He said the federation should be able to advise the government on creating an environment for economic development and prosperity and also develop the capacity to question the government if necessary.

Similarly, former president Bhawani Rana urged the government to work with the private sector for economic development and prosperity and advised the new executive committee to work together on economic agendas.

District and Municipal vice-president Krishna Prasad Sharma stressed the need to strengthen district and municipal chambers of commerce and industry across the country to create an industrial environment and to work towards changing perceptions towards entrepreneurs and businesses.

Another District and Municipal vice-president, Dil Sundar Shrestha, said economic development was not possible without the development of industry and business, and said that the government should ensure investment and physical security to create a business-friendly environment.

Likewise, Commodity vice-president Naresh Lal Shrestha said that the problems faced by businesses across the country were shared issues and stressed the need to work collectively on economic agendas rather than taking sides.

Associate vice-president Prabal Jung Pandey pointed to the need for policy stability to create an industrial environment and said priority should be given to issues ranging from tax system reforms to concerns faced by businesses.

Published in The Rising Nepal daily on 8 May 2026.           

FM Khanal meets UNICEF officials, SAARC secretary general

Kathmandu, May 7

UNICEF Regional Director for South Asia Sanjay Wijesekera and UNICEF Country Representative for Nepal Alice Akunga called Foreign Minister Shisir Khanal at the Ministry of Foreign Affairs (MoFA) on Thursday.

During the courtesy call, matters related to ongoing cooperation between Nepal and UNICEF across various key sectors, including child welfare, health, education, and water and sanitation were discussed, the MoFA informed in a post on X.

Earlier on the same day, FM Khanal had received SAARC Secretary General Md. Golam Sarwar, at the Ministry. During the courtesy call, matters relating to further strengthening regional cooperation were discussed.

Published in The Rising Nepal daily on 8 May 2026.           

South Asis Trade Fair kicks off in Kathmandu

Kathmandu, May 7

The South Asia Trade Fair 2026 kicked off at the Bhrikutimandap Exhibition Centre in Kathmandu on Thursday. Organisers said that the fair that will run till 11 May, is organised with the objective of bringing together industrial, trade and service-related opportunities from the South Asian region under one platform.

The fair was jointly inaugurated by ambassador of Sri Lanka to Nepal Ruwanthi Delpitiya, ambassador of Bangladesh to Nepal Safiqur Rahman, acting President of Nepal Chamber of Commerce Dipak Malhotra and fair coordinator Suman Maharjan.

"The event is expected to provide a platform for private sector engagement at a time when the country’s business environment and investment climate have remained slow for a prolonged period," read a statement from the organiers. Businesspeople affected by recent economic and commercial challenges are participating in the fair.

The event has been organised and managed by Introduction Trade Shows Nepal in collaboration with the Ministry of Industries and the Export Promotion Bureau (EPB) of Bangladesh. The Ministry of Industry, Commerce and Employment of Bhutan has supported has also endorsed the fair.

Participants from India, Bangladesh, Nepal, Bhutan, Pakistan, Afghanistan, Sri Lanka and the Maldives are expected to take part in the fair. The fair is are to promote products and services, study market potential and expand cooperation between buyers and sellers. The event also aims to strengthen trade relations among participating countries.

Maharjan said more than 150 exhibitors are expected to participate, with an estimated attendance of around 100,000 local visitors and 5,000 international and business representatives.

The exhibition includes products and services related to garments and ready-made goods, cosmetics, handicrafts, vehicles and spare parts, furniture, agricultural products, information technology and household appliances.

Published in The Rising Nepal daily on 8 May 2026.           

Anjan Shrestha assumes presidentship of FNCCI

Kathmandu, May 7

Anjan Shrestha has assumed the presidentship of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the largest business body in the country.

The incumbent senior vice-president succeeded Chandra Prasad Dhakal as the 21^st President of the FNCCI. As per the FNCCI statute, senior VP assumes presidency upon completion of the term.

As Shrestha was elevated to the coveted post during the 60^th General Assembly of the FNCCI held in Kathmandu on 4-5 May, he said that the private sector is the partner of the government in economic affairs and development. He has challenges in the form of international conflict, impact on supply chain, and rising cost of raw materials and finished goods and opportunities like the stable government and abundant liquidity in the financial system.

Shrestha leads business houses Laxmi Group that runs businesses and industries in food, steel, motors and dairy. He joined the FNCCI in 2002 and served as chair of various committees and VP.

The 60^th General Assembly elected Naresh Lal Shrestha as the VP (Commodity); he defeated Shiva Prasad Ghimire. Likewise, Krishna Prasad Sharma and Dil Sundar Shrestha were elected as VPs of the District and Municipal Chambers defeating Umesh Dalmia and Kalpana Gaire while Prabal Jung Pandey was elected VP (Associate) against Jyotsna Shrestha Subba.

Earlier, the FNCCI would elect three VPs and one senior VP but the recent amendment of the statute has provisioned for additional VP for district and municipal chambers group. 

Arjun Kumar Shrestha, Ujjwal Prasad Kasaju, Keshav Prasad Bhandari, Krishna Katuwal, Gokul Shrestha, Tara Bahadur Karki, Dipak Nepal, Prayas Karki, Mohan Prasad Shrestha, Laxman Raj Paudel, Shankar Giri, Santosh Khadka, Surdarshan Karki and Hari Prasad Aryal were elected district and municipal members.

Gita Amatya and Hira Bhattarai were elected as women members for this group.

The General Assembly also elected 14 provincial members – two from each province. They include Jiban Parajuli and Ramesh Bishwakarma from Koshi, Amar Nath Shah and Bikash Kumar Sarada from Madhes, Prakash Manandhar and Sabin Shrestha from Bagmati, Pavindra Kumar Shrestha and Subin Shrestha from Gandaki, Yagya Prasad Bhattarai and Bal Krishna Subedi from Lumbini, Padam Bahadur Shahi and Purichandra Devkota from Karnali, and Pitambar Joshi from Sudurpaschim.

Likewise, elected members in the commodity group include Araniko Rajbhandari, Nani Raj Ghimire, Pashupati Dev Pandey, Bidur Dhamala, Bhakta Bahadur Hamal, Rabin Puri, Raj Kumar Karki (Raju), Lilendra Prasad Pradhan, Sangharsh Bista, Sagar Dhakal and Hom Prasad Ghimire.

Sunita Nhemaphuki was elected as woman member in this group while Bishwanath Khanal and Sunaina Ghimire were elected for the two positions under the commodity federation members.

Similarly, in the associate category, 17 members were elected, including Ambika Prasad Paudel, Ishwar Bahadur GC, Ujjwal Kumar Shrestha, Rishi Agrawal, Krishna Lal Maharjan, Dibas Neupane, Priya Raj Regmi, Batu Lamichhane, Babu Kaji Karki, Rajesh Kumar Agrawal, Ramsharan Bhandari, Shakti Kumar Begani, Sachin Dhakal, Suyash Pyakurel, Suraj Upreti, Sushil Thapa and Hemanta Golchha.

Abhigya Malla and Juna Mathema were elected as the commodity federation members.

Manoj Paudel was elected in the bilateral chambers category, while Gopal Shrestha and Suman Kumar Shrestha were elected under the founder members’ group. 

Published in The Rising Nepal daily on 8 May 2026.           

Norwegian Envoy calls on VP Yadav

Kathmandu, May 6

Vice President Ramsahay Prasad Yadav held a courtesy meeting with Norwegian Ambassador to Nepal Dagny Mjos at the Vice President's Office on Wednesday.

They discussed various dimensions of Nepal–Norway bilateral relations. Since the establishment of diplomatic relations in 1973, the two countries have maintained cordial and friendly ties, said VP Yadav.

He also said that the work carried out by the Government of Norway, particularly in the areas of renewable energy, education and good governance, has been highly beneficial for Nepal.

“Vice President Yadav expressed his expectation that Nepal–Norway relations will continue to expand into new areas and grow stronger in the days ahead,” the Vice President’s office informed in a statement. He also conveyed his best wishes for the happiness, peace and prosperity of the Norwegian people on the Constitution Day and National Day of Norway on 17 May.

Ambassador Mjøs said that both countries could cooperate in areas including education, energy, good governance, human rights and social justice.

She further said that Nepal and Norway could expand their cooperation in international forums in the future, and conveyed her best wishes for Nepal’s peace, stability and prosperity. Mjøs also affirmed that Norway is ready to cooperate on the issues outlined in the Government of Nepal’s 100-point commitment document.

Published in The Rising Nepal daily on 7 May 2026.           

Asia Pacific's integration to global value chain doubles from 2000

Nepal remains on periphery

 

Kathmandu, May 6

The Asia Pacific region accounted for a third of global value chain trade, with its developing economies doubling their share from 9 per cent to 18 per cent from 2000 to 2023, the Asian Development Bank’s (ADB)'s latest report said.

The Asian Development Policy Report 2026 launched at ADB’s 59th Annual Meeting in Samarkand in Uzbekistan on Wednesday is titled 'Global Value Chains and Inclusive Development'.

It noted that greater specialisation in the stages of global production has helped Asia and the Pacific achieve economic growth, create jobs, and reduce poverty over the past quarter century.

Some economies—particularly in East and Southeast Asia—have become deeply embedded in regional and global production networks, occupying central positions that allow them to capture significant value addition. Others, including many smaller, lower-income, or geographically remote economies, have participated less and remain largely excluded from these networks.

“Greater geoeconomic fragmentation reduces the opportunities for firms to benefit from global value chains (GVC), which risks stifling industrialisation and growth in economies stuck in low-value roles,” said ADB Chief Economist Albert Park. “To bridge the gap, support for less-developed economies is crucial to help them take advantage of emerging technologies, and to strengthen infrastructure, logistics, and the business environment to enhance productivity and competitiveness.”

The report said that the benefits of global value chains remain uneven, mainly benefiting large productive firms, while small and medium enterprises face barriers due to high compliance costs and limited capabilities.

Nepal on the periphery

According to the report, a few economies, including Cambodia, China, South Korea, and Nepal increased both forward and backward participation, with forward participation rising more sharply than backward participation in China.

However, many smaller economies remain marginal participants, highlighting the uneven nature of global value chain integration in the region. Landlocked economies such as Bhutan and Nepal, resource-dependent economies, including the Kyrgyz Republic and Laos, Maldives, and several Pacific Island economies, face constraints from small domestic markets, geographic isolation, and limited industrial capabilities. In 2023, the bottom 10 Asian economies in backward GVC trade together accounted for just 0.86 per cent of total regional backward GVC trade, with a similar share for forward participation.

Nepal also has greater intra-regional share compared to its peers despite being on the periphery of the GVC.

Likewise, the report said that geopolitical tensions, supply chain disruptions, and rapid technological changes are reshaping how economies participate in global value chains.

 

'Resilience should be developed'

The report identifies three policy priorities to support global value chain integration – resilience, environmental sustainability and inclusion. "Strengthening resilience requires coordinated improvements in robust connective infrastructure, the capability of firms to respond flexibly to changing circumstances, and policy frameworks that enable diversification of markets, inputs, and partnerships," read the report.

Likewise, compliance with evolving environmental and sustainability standards is becoming a general requirement across global value chains. Strengthening policies in areas such as standards, certification, and traceability can help firms to adopt cleaner technologies and production processes.

Similarly, achieving inclusive outcomes requires coordinated actions that reduce trade costs through infrastructure investment, open trade policies, and trade facilitation; develop worker skills and firm capabilities; and support access for small and medium-sized enterprises to finance, digital platforms, and export opportunities.

Published in The Rising Nepal daily on 7 May 2026.           

Government to begin refunding depositors of troubled cooperatives

Kathmandu, May 5

The government has announced that it will begin returning the savings of depositors of troubled cooperatives from mid-May (the first week of Jestha in the Nepali calendar).

The Problematic Cooperative Management Committee, which started work on April 22, has collected the necessary details of cooperatives and depositors and is preparing to refund the savings, the Ministry of Land Management, Cooperatives and Poverty Alleviation informed.

According to the committee, around Rs. 46 billion must be returned to approximately 76,000 depositors of these troubled cooperatives.

Most of them are small depositors. Those with savings of less than Rs. 500,000 are classified as small depositors, while those with more than Rs. 500,000 are considered large depositors. Out of the total 76,000, only about 18,000 depositors have savings exceeding Rs. 500,000.

Minister for Land Management, Cooperatives and Poverty Alleviation, Pratibha Rawal, said that much of the preparatory work for the refunds has already been completed and the process will now begin.

“We have already completed a great deal of work. We will prioritise returning funds to small depositors first,” she said. The committee has also stated that it will adopt a policy of initiating the refund process while giving priority to loan recovery.

As per the Procedures for the Establishment and Operation of the Revolving Fund for Refund of Savings to Members of Problematic Cooperatives 2083, the committee, by its own decision, may give priority to small depositors. Among depositors, priority will be given to single women, senior citizens over the age of sixty, Dalit and indigenous nationality communities, and persons with disabilities.

The committee further announced that the refund process for claim-submitting depositors will begin from the first week of Jestha, while a second window for claims by those who missed the initial process will open in the third week of May.

It also stated that funds allocated by the government to the revolving fund will be used only as loans if the committee’s own fund proves insufficient.

According to the Procedures, the revolving fund will be created with the fund received from the government, reimbursement sums returned by the relevant cooperative society, and sums received from other sources.

Money recovered from the auction of assets belonging to directors, audit committees, managers, loan sub-committees, and individuals with authority or responsibility who were involved in the embezzlement or misappropriation of the institution’s assets, savings, loans, or shares, as well as any other sums recovered from such persons will also be deposited into the fund.

"If the sale of assets proves insufficient to refund the depositors, the Committee may also freeze and auction assets that have been transferred or invested in companies by family members of the individuals involved, whether such transfers occurred through property partition, divorce, or any other means," according to the Procedures.

Committee Member-Secretary Rabin Dhakal said that strict legal measures will be adopted for loan recovery.

Managers, directors are last to be refunded

The refunding of savings will be made on the basis of the records, details received from the cooperative, or the balance amounts shown in the computer system up to the day preceding the date on which the cooperative institution was declared problematic.

However, depositors who have taken loans from the cooperatives will get a refund after they have fully repaid the loans, reads the Procedures.

Similarly, the savings of directors and managers of the relevant institution, savings of members of their immediate family, and individuals involved in embezzlement or misappropriation shall not be refunded until the liabilities of depositors who have submitted claims have been settled.

If the claim for refund of savings is sub-judice in court, the process to refund the savings will not be started until the case is settled.

However, if a depositor has savings in multiple federal-level problematic cooperative organisations, he/she will get a refund only from one such institution. If funds are insufficient, the Committee is likely to distribute the remaining funds in the account on a pro-rata basis.

In the event of a depositor's death or if they cannot be located, the savings will be refunded to their legal heir based on evidence provided.

Sick pillar of economy

Although cooperative is mentioned in the constitution as one of the pillars of the national economy, it remained unregulated and unsupervised sector for the last seven decades. Mismanagement and fund embezzlement in large and high-profile cooperatives were exposed in the last one decade.

The government began to declare cooperatives as 'problematic' since 2018. In 2024, a parliamentary probe found that about Rs. 87.89 billion was misappropriated in at least 40 cooperatives. They also had faked their audit reports and fabricated property divisions.

In January this year, the Supreme Court ordered the government to return funds to small depositors – those with less than Rs. 500,000.

On April 22, the government issued the Procedures to operate the revolving fund. With President Ramchandra Paudel ratifying the Cooperative (First Amendment Ordinance) last week, the government can now use public funds for immediate repayment to victims. 

Published in The Rising Nepal daily on 6 May 2026.