He was taken to the hospital early in the morning after his health deterioriated.

Proponent of free market economy, Chalise was one of the key government officials during the economic liberalisation of the 1990s. During his stint at the Industry Ministry, Chalise played a crucial role in bringing various market friendly reform policies and acts.

Finance Minister Ram Sharan Mahat remembered Chalise as a proficient administrator and recalled his contributions to the first phase of economic reforms. “He played an important role in bringing the private sector-friendly Industrial Enterprise Act 1992 and the Foreign Investment and Technology Transfer Act,” said Mahat.  These Acts provided vision for economic liberalisation in Nepal ending the licence regime that was prevalent in the Panchayat era.

When the economic reform was initiated in the 90s, Chalise was serving as a joint secretary at the Industry Ministry. It was under his leadership as industry secretary that the Company Act 1997 was introduced. He also played a leading role in introducing the Local Self-Governance Act 1999 as a secretary of the Local Development Ministry. “He believed in the strength of market forces in economic development and empower the local bodies,” added Mahat. Chalise also served as managing director of the Nepal Electricity Authority.