KATHMANDU: Pashupati Murarka, a 50-year-old businessman, was unanimously selected as the new president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) — largest private sector umbrella body of the country — on Friday.

In his 14-year-long contribution to the chamber movement, this is the fifth time that Murarka has been in executive position of FNCCI — from executive member to the helm of the federation.

Murarka was elected as an executive member for two terms and vice president for one term in the past. He was also elected as the senior vice president last year in the Pradeep Jung Pandey-led executive committee. After Pandey’s arrest on a 30-year old corruption charge on March 18 this year, the post of the president remained vacant and a special general meeting was called on Friday to elect the new chief.

Throughout Murarka’s journey in FNCCI, he has always been successful in being elected in every election that he has participated in. The decision to unanimously select a president at FNCCI was possible as two other candidates — Bhaskar Raj Rajkarnikar and Bhawani Rana — withdrew their candidacies.

Since joining FNCCI, Murarka has developed an accommodative quality — which is considered as the foremost quality for leadership. His father late Atmaram Murarka had also served as vice president in FNCCI.

A prominent business person of the country, Murarka has business interests in cement, rod and paint industries. He is also involved in the trading business and the financial sector.

After being elected as the new FNCCI chief, Murarka informed that his first priority would be to lobby for a ‘two-pillar’ economy (public and private) as the fundamental economic principle in the new constitution — the first draft of the constitution has incorporated ‘three-pillar’ economy (public, private and co-operative). He added that he will do his best to expedite the endorsement of the Labour Act by the parliament. Murarka further said that he will always work for the good of the private sector.

Likewise, Bhawani Rana was unanimously elected as the senior vice president of FNCCI by the executive committee on Friday afternoon. The post had remained vacant after Murarka was promoted as the officiating president. Rana is a tourism entrepreneur and has been actively involved in the chamber movement for a decade. She has already served as the vice president. In the last election, she was defeated by Murarka for the post of the senior vice president.

Murarka and Rana will serve for the remaining term of the current executive committee, which expires in April, 2017.