KP Oli Resigns as Nepal PM, 90 Minutes Before No Confidence Vote

Nepal’s prime minister resigned Sunday, plunging the south Asian country into another period of political and economic uncertainty.

Nepal’s Prime Minister Khadga Prasad Sharma Oli, also known as KP Oli, observes a minute of silence for natural disaster victims during an event organised to mark the 18th National quake Safety Day and the official launch of natural disaster reconstruction efforts in Bungamati village, Nepal January 16, 2016.

Oli, Nepal’s seventh prime minister since it abolished its 239-year old monarchy in 2008, survived an attempt by the Maoists to unseat him in May after he reached a power-sharing deal.

He submitted his resignation to President Bidhya Devi Bhandari at the President’s Office here, hours before Parliament was to vote on a no-trust motion against his government, officials here said.

“There is no need to return to the agitation”, Oli said pointing to the Madhesi parties.

Earlier today, two main coalition partners Rastriya Prajatantra Party and Madhesi Peoples Rights Forum-Democratic led by Bijaya Gachhadar also with drew support from the government.

Oli came to power in October when the Maoists offered his party parliamentary backing to build a coalition. The Nepali Congress-Maoist alliance needed support from other 10 lawmakers to make it a majority and form a new government.

More than 50 people died in clashes between police and protesters in December, who rallied against a constitution they said left them politically marginalised.

The resignation immerses that country in to political turmoil on the heels of last year’s Madhesi protests against Nepal’s new constitution, Times of India reported.

Minority Madhesis blocked border trade points with India for four months to demand the redrawing of provincial borders and a fair say in government. Meanwhile, Mr Oli on Friday said the recent bid to change the government was a conspiracy against the country’s political stability.

As per the agreement, Prachanda will hold local elections that have not been held for the last 20 years, while Deuba will hold elections to the provincial assemblies and Parliament during the remaining nine months. The three parties have a combined strength of 292 in Parliament.