KATHMANDU: Voting is underway for new leadership positions at the Federation of Nepalese Chambers of Commerce and Industry, with business leaders competing in a closely watched election.

Balloting began at the Nepal Academy in Kamaladi for four vice presidents and central members representing various thematic groups. The election follows the completion of the Federation’s 60th Annual General Meeting on Monday at Hotel Tulip in Gwarko, Lalitpur.

Two major panels have emerged in the race. One is backed by current President Chandra Prasad Dhakal, while the other is led by Senior Vice President Anjan Kumar Shrestha, who is set to assume the presidency through the general meeting process.

Observers say the contest between the Dhakal and Shrestha panels is expected to be highly competitive.