President Ramchandra Paudel has appointed KP Sharma Oli to the post of Prime Minister.

President Ramchandra Paudel appointed Oli, a member of the House of Representatives, as per Article 76 (2) of the Constitution of Nepal, read a press release issued by the Office of the President on Sunday.

Following the expiration of the deadline at 5:00 pm, President Paudel has appointed Oli, Chairperson of the CPN (UML) as the Prime Minister this evening.

The newly-appointed Prime Minister KP Sharma Oli has thanked one and all after his appointment as the PM.

Writing on the wall of his Facebook page immediately after he was appointed the PM this evening, Oli has expressed his gratitude and thankfulness to all. "Respect to all, thanks to all," Oli stated.

Oli was appointed the Prime Minister by President Ram Chandra Paudel in accordance with Article 76 (2) of the Constitution with the backing of the Nepali Congress, the largest political party in parliament.