The UCPN (Maoist) has announced its withdrawal of candidacy from the prime ministerial elections to initiate a new process in electing the prime minister.

Top leaders of the UCPN(M) and UML agreed on a three-point agreement in a meeting on Friday. As per the agreement, UML will have to stick to its previous neutral position.

A joint statement signed by UML chairman Jhalanath Khanal and Maoist chairman Pushpa Kamal Dahal said that the failure of the parliament to elect the new PM for the seventh time has worried the people, and that this process has not given a positive solution for the current deadlock.

During the meeting, the leaders also emphasized the need for a consensus government and agreed to urge NC to withdraw its candidacy in order to initiate a new selection of consensus candidates for the position of PM.

The UML will remain neutral during the election even if NC does not pull out from the fray.

Even if NC candidate Ram Chandra Poudel will be a lone competitor for the post of prime minister, he will have to secure a majority in the parliament, which is impossible without the support of UML and the Madhesi alliance.