The Peoples Democratic Party and the Bharatiya Janata Party government is likely to assume office in a week. According to the PDP, the announcement in this regard will be made soon.
Speaking to Hindustan Times, PDP spokesman Nayeem Akhtar said, "The formal announcement is likely to be anytime now.''
The government is likely to be in place by February 27 as both the parties have reached an agreement on the common minimum programme, which includes a "middle approach" on contentious issues, like Article 370 and Armed Forces Special Powers Act (AFSPA).
According to sources, Mehbooba Mufti will call on BJP president Amit Shah in Delhi. This is likely to be followed by a meeting between Prime Minister Narendra Modi and PDP patron Mufti Mohammad Sayeed.
"Announcement is likely to be made after the meetings between the leaders of the two parties. The sooner the meetings take place, the sooner the announcement will be made,'' said a senior PDP leader.
The state is under the governor's rule for more than a month now.
The PDP and BJP entered into dialogue process on government formation soon after the assembly election results were declared on December 23.
The PDP which won 28 seats had sought an assurance from the BJP which had bagged 25 seats, on re-starting dialogue process on Kashmir with external and internal stake holders, initiating process for removal of AFSPA, and protecting special status of J&K enshrined under Article 370 of the Indian Constitution.
While the BJP-PDP government is likely to maintain that "the special status of the state would be protected." The PDP was insisting on including Article 370 in the CMP to be respected, something the BJP seems to have not agreed to.
The agenda for alliance also discussed the process of partial withdrawal of AFSPA from the state in cooperation with the Centre. The BJP, sources said, has not given in to the demand of revocation from peaceful areas, but has instead insisted on setting up a committee which will look into the matter and then suggest withdrawal taking army into confidence.
The PDP, however, insisted that the CMP needs to be read holistically and not in bits and pieces.
"The delay was worth the wait for people of Kashmir. We have settled almost all contentious issues," Akhtar said.
Akhtar hit out at the National Conference for its statements, saying the BJP-PDP deal was a sell-out. "Everybody knows who has sold state's autonomy. We are trying to safeguard whatever is left," he added.
The PDP claimed that the party would renegotiate the National Hydroelectric Power Corporation (NHPC) projects and their handing over to the state. "Giving power projects to Centre was started by Sheikh Abdullah, while Farooq Abdullah and Omar Abdullah continued to do so,'' Akhtar said.