According to reports, Mr. Rajapaksa is to take oaths at the presidential secretariat. It is also likely that the new cabinet of ministers will be announced later in the day.
Making a special statement today (20), prime minister - Ranil Wickremesinghe said that he had met president Gotabaya Rajapaksa yesterday and decided to resign from his post, allowing the new president to form a fresh government.
Mr. Wickremesinghe had said that the United National Party (UNP) would face elections after being restructured while the party leadership would be handed over to a youth group who can safeguard the Sinhala-Buddhist base.
Meanwhile, addressing a group of UNP MPs earlier in the morning, the PM had said that results of the recently concluded presidential election showed that the faith on the party among Sinhala Buddhist masses, has dwindled.
Therefore, building up a young leadership that can secure the Sinhala Buddhist is a significant challenge, he had pointed out, adding that young leaders of the party would be told next week to work on a strategy on this regard.
Noting that reasons behind the defeat of the UNP candidate should be analysed while long and short term strategies to win future elections should be formed, Mr. Wickremesinghe said that this required a wide restructuring of the party.