The two largest parties in the Federal Parliament- NC and the CPN (UML) on Monday (1st July 2024) agreed to share the power equation, aiming to form a new government under the leadership of UML Chair KP Sharma Oli.

Prime Minister of Nepal Pushpa Kamal Dahal ‘Prachanda’  on Tuesday (2nd July 2024) called on President Ramchandra Paudel. The Prime Minister and the CPN (Maoist Centre) Chair visited the Head-of-the-State at the Office of the President, Shital Niwas. On the occasion, matters relating to the country’s latest political developments were discussed.    

Prime Minister Pushpa Kamal Dahal has decided not to resign from his post.

The pact, finalized between NC President Sher Bahadur Deuba and UML Chairman KP Oli, outlines the ministerial division, provincial leadership roles and a rotation for the prime ministerial position.

Under the agreement that is expected to be finalized today, UML Chairman Oli will lead the government initially for the first half of the remaining term of the current parliament.

The Rastriya Swatantra Party (RSP) is not participating in the new ruling alliance led by the Nepali Congress and the CPN (UML). The RSP party secretariat meeting held today decided to exit from the present government, but not participate in the new coalition.

The Nepali Congress has said it forged power equation agreement with the CPN (UML) for constitution amendment, political stability and improving the economic situation.

A meeting of the NC office-bearers held at Budhanilkantha, the residence of NC President Sher Bahadur Deuba, on Tuesday (2nd July 2024) drew the conclusion that the party had to forge consensus with the CPN (UML) to resolve national consensus problems seen in the course of constitution implementation.

NC Chief Whip Ramesh Lekhak briefed the meeting about the consensus on power equation reached between the NC and UML on Monday (1st July 2024) night. Both the parties agreed to move ahead collaborating on the various issues including constitution amendment.