Nepal President Ram Baran Yadav agreed on Wednesday evening to extend the deadline for formation of a 'national consensus government' by another five days following request by political parties.
Yadav had set Wednesday as the deadline after Prime Minister Madhav Kumar Nepal resigned on July 30. The political parties failed to meet the deadline due to differences.
Earlier in the day, the three major political parties-- UCPN-Maoist, Nepali Congress and CPN-UML urged President Ram Baran Yadav to extend the time limit by five more days.
Failure among them to agree on who would lead the next government and details like fixing a number on former Maoist rebels to be integrated into security forces has resulted in the delay.
On Wednesday morning, leaders of the three parties decided that they needed five more days to bury their differences and end the political deadlock.
Talking to media persons after the meeting, Nepali Congress leader Bimalendra Nidhi informed that the three parties needed to complete some more formalities to form the next government.
If parties fail to form the government through consensus, the PM will be elected by a two-third majority of Constituent Assembly members and the council of ministers appointed on his recommendations.