Source:
CNNKathmandu, Nepal (CNN) -- Facing political pressure, Madhav Kumar Nepal said Wednesday that he would resign as Nepal's prime minister.
In a televised address, Nepal said wanted to avert crisis and find "political resolution to the peace process and the drafting of the new constitution."
The opposition Maoists, who form the largest party in parliament, have demanded Nepal's resignation as the troubled Himalayan nation prepares a new constitution. Otherwise, the Maoists had threatened to disrupt the parliamentary session and block approval of the annual budget.
The failure to adopt a new constitution by the late May deadline would have automatically dissolved the government. But the Maoists agreed to let the government amend the constitution and extend the deadline by a year.
Read more:
http://edition.cnn.com/2010/WORLD/asiapcf/06/30/nepal.pm.resignation/