KATHMANDU: Pashupati Murarka has been elected the 17th President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) by the special general assembly of umbrella body of the private sectors.

Murarka, who was serving as the officiating President of FNCCI, will work as boss of the umbrella organisation of Nepali private businesses for next 21 months.

The 50-year-old industrialist made it to the high post after two contenders Bhashkar Raj Rajkarnikar and Bhawani Rana withdrew their candidacy, showing solidarity with the organisationand the Presidential candidate Murarka.

Murarka had taken over the FNCCI leadership after the then President Pradip Jung Pandey was taken to jail on a three-decade old corruption case on March 18.

Murarka, after being elected as the FNCCI President unanimously, affirmed that he will discharge his duty in favour of the larger interests of the institution and entrepreneurs.