New Business Age

Nepal’s private sector story of last 25 years is less about who owned businesses and more about who built systems when none existed. What began after the liberalization of the 1990s has evolved into a deeper transformation: entrepreneurs no longer just operate within markets, they create and organize them

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The government has set an ambition of turning electricity into sustainable exports. A new draft of the Energy Consumption Growth and Export Strategy, 2026 lays out a decade-long plan to reshape how the economy uses energy. The logic is straightforward: increase domestic consumption, reduce fossil fuel imports and sell surplus energy across the border at peak prices.

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Banks and financial institutions in Nepal will now be required to provide mandatory overtime pay to employees who work beyond official office hours.
Nepal Rastra Bank (NRB) has issued a directive clarifying working hours, overtime benefits, and labor rights for employees in the banking sector. The directive states that staff cannot be compelled to work beyond scheduled hours, and if they do, they must be compensated according to prevailing laws.

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The ongoing road expansion drive in Birgunj has left several homeowners devastated, with many claiming they are being unfairly labeled as encroachers despite holding genuine land ownership certificates issued by the government.

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As the government is in the final phase of drafting the national budget for fiscal year 2026/27, discussions have begun on whether to increase the salaries of civil servants. The Ministry of Finance has initiated deliberations while drafting the budget, following recommendations from the Salary and Allowance Review Committee led by Chief Secretary Sumanraj Aryal.

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Nepal’s renowned Mount Everest guide who last week scaled the peak a record 32nd time urged authorities to limit climbers on the summit. The number of climbers making the ascent on the 8,849-meter (29,032-foot) peak from the Nepalese side is higher this season because China has closed the route from Tibet. Everest can be scaled from either the southern side in Nepal or the northern side in China.

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The National Disaster Risk Reduction and Management Authority (NDRRMA) on Saturday, May 22, urged people in western Tarai districts to remain cautious as extreme heat and heatwave conditions are likely to persist until Monday.

It came a day after the Department of Hydrology and Meteorology, in a special bulletin, said temperatures in parts of the Tarai had been rising sharply since May 20 and could reach or exceed 40 degrees Celsius in parts of Lumbini and Sudurpaschim provinces over the next three days.

The authority placed Dang, Banke, Bardiya, Doti, Kailali and Kanchanpur districts on alert, while urging people in Kapilvastu, Rupandehi, Arghakhanchi, Palpa, Pyuthan, Rolpa, Salyan, Surkhet, Achham, Dadeldhura and Baitadi to stay updated on the situation.

It also directed all disaster-related agencies to remain prepared for necessary response measures.

Doctors have warned that excessive heat can cause fatigue, weakness, excessive thirst, headaches, leg cramps, dizziness, fainting, muscle pain and vomiting, among other health problems.

To reduce heatwave-related risks, the authority advised people to stay indoors as much as possible during the afternoon. Those who need to go outside have been advised to use umbrellas or cover their heads with light cloth.

Stakeholders warn of disruption to vehicle imports, sales and financing amid lack of policy clarity

Sudden Halt on Public Vehicle Registration Baffles Industry | New Business Age The government has temporarily suspended the registration of new public transport vehicles across the country, includ

Sur Krishna Vaidya has been elected senior vice-president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), while Manish Lal Pradhan has been elected treasurer.

Vaidya defeated Ram Chandra Sanghai by 56 votes to 30 in the election held on Friday, May 22.

Similarly, Pradhan got 61 votes against his rival Ambika Prasad Paudel’s 25.

Members of the federation’s executive committee cast votes for the two posts.

The country’s apex private sector body elected its new leadership under Anjan Shrestha during its 60th annual general meeting and election held earlier this month.

(📸 Newly elected FNCCI Senior Vice-President Sur Krishna Vaidya, first photo, and Treasurer Manish Lal Pradhan following their election on Friday, May 22, 2026.)

Nepal’s stock market closed higher on Friday, May 22, ahead of the national budget announcement next week.
The benchmark Nepal Stock Exchange (NEPSE) index rose 16.38 points, or 0.59 percent, to 2,758.49 points. During intraday trading, the index fluctuated between 2,736.15 points and 2,758.59 points.

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