Nepal to choose new president on 5 March

A Standing Committee (SC) of the party held in Lalitpur named Mr., Oli as the prime ministerial candidate as he is also the UML's Parliamentary Party leader, senior party leader Surendra Pandey said. 70-year-old Deuba replaced Prachanda, a former rebel commander, as prime minister after a parliamentary vote.

Deuba submitted his resignation in the morning after the country's election commission submitted the final results of the federal and provincial Assembly elections, which were held in December 2017, to the president. Oli's Leftwing alliance is considered to be closer to China while outgoing leader Deuba is widely seen as being closer to India.

A country of 28 million people, Nepal is an attractive market for Indian and Chinese goods. Nepal offers a source of clean and affordable energy, a pressing concern for both India and China.

Nepal has been embroiled in political instability since a decade-long Maoist conflict ended in 2006 and the monarchy was abolished two years later. He served his first stint as Prime Minister of Nepal from October 2015 to August 2016. As per reports by PTI, the move came almost 3 months after Deuba stripped of their portfolios after the party forged an electoral alliance with the CPN-UML in the recently held federal and provincial assembly elections.

The blockade caused a crippling shortage of goods in the landlocked Himalayan nation as it was still reeling from a devastating natural disaster that hit earlier that year killing almost 9,000 people.

"He has already received the appointment letter from the president", Bhandari's spokesman, Kul Prasad Chudal, told Reuters.

K.P. Sharma Oli took the oath of office on Thursday.

Oli has previously said he will promote peace, stability and development.

As the head of the largest party in the House of Representative, Mr. Oli is the natural claimant for the top post.

  • Joey Payne