Sher Bahadur Deuba resigned as Nepal Prime Minister on Thursday after a brief stint, Khadga Prasad Oli to succeed him.
As per reports, a standing committee meeting of the UML on Wednesday made a decision to field the party's Chairman K P Sharma Oli as the new prime minister on behalf of the left alliance comprising the UML and the Maoist Center.
His government is credited with holding successful elections following the announcement of the new constitution in 2015.
The CPN (UML)'s standing committee met in Lalitpur on Wednesday to elect Oli as its prime ministerial candidate, senior party leader Surendra Pandey told PTI. "The process of government formation and merger of the parties will go hand in hand".
K P Sharma Oli was today sworn in as Nepals Prime Minister for the second time, weeks after his Left alliance with former Maoist rebels swept the historic parliamentary polls, kindling hopes for much-needed political stability in the Himalayan nation.
He had also served as Minister of Home Affairs in 1994ï¿½??1995. The Nepali Congress has 63 seats while the CPN-Maoist Centre has 53 seats.
In the parliamentary elections, the Deuba-led Nepali Congress (NC) stood third - behind the CPN-UML and the CPN (Maoist Centre) - in the historic parliamentary and provincial assembly polls by winning just 23 seats out of a total 165 seats under the first-past-the-post (FPTP) system.
The UML leaders also discussed the party unification with the CPN (Maoist Centre) during the meeting, the report said.