Watch VideoPlay Video
Nepali Prime Minister Madhav Kumar Nepal resigned on Wednesday. In his address to the nation, Nepal said his move will further pave the way for national government which will escort the country's peace process to a logical conclusion.
Addressing the nation at a press conference in the capital Kathmandu, Madhav Kumar Nepal announced his resignation.
He said the government has been unable to present its policies and programmes in the parliament, a pre-requisite before announcing the annual budget. The situation left him with no choice but to resign.
Madhav Kumar Nepal, Nepali Prime Minister, said, "It has been late for the government to present the plan and programmes and the budget. Since it is not proper to keep the country in a state of uncertainty, even with the majority in the constituent assembly, with an objective to pave the way for a peace process and new constitution, and with the intention of political consensus I have decided to resign from this very day from the post of prime minister."
Nepal blamed the single and the largest opposition party-- the Unified Communist Party of Nepal-Maoist, for prolonged political stalemate and also creating hurdles on the way to peace process.
Madhav Kumar Nepal, Nepali Prime Minister, said,"Since the very day of power in the government we have been facing regular obstructions and protests in the parliament and streets".
Nepal also expressed his expectations that after his resignation, UCPN-Maoist will be transformed into a democratic party and fulfill its commitments to working on national prosperity.
Nepal was elected Prime Minister in May 2009... after the UCPN-Maoist Chairman Prachanda stepped down in a conflict over the control of the national army.
Since then, UCPN-Maoists have been pressing for Nepal's resignation to pave the way for a national unity government headed by them.
The crisis has hit the aid-and-tourism dependent economy, which has already been facing frequent power outages and double-digit inflation.
The incumbent government will remain the caretaker government before a national unity one is formed.