Nepal Chamber of Commerce (NCC) has finally settled leadership dispute today after the disputed president Suresh Basnet agreed no to contest for the next term.

The president of the dissolved executive committee of the chamber Suresh basnet withdrew the court case against the dissolution to settle the year-long dispute that started after the membership distribution before the general assembly last year, said former president of the NCC Surendra Bir Malakar.

“The executive committee will now facilitate calling the NCC general assembly within three months to handover the leadership,” he said, adding that the meeting of executive committee would be called at the earliest to announce the date for the general assembly. ‘He would not contest in the election for the new executive committee,”

Basnet had moved the court after he failed to held general assembly due to objection of some executive members. The court, however, had scrapped the executive committee.

The two factions – led by Basnet and the vice-president Lok Manya Golchha – both agreed to work together, withdrawing four court cases.

In recent years, the private sector has been also divided due to ego problem making the privates sector weaker.

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