Now the Hilly nation will pave the way for the formation of a new government.
KP Oli, as he is popularly known, succeeds the Nepali Congress Party's Sher Bahadur Deuba, who resigned almost two months after an alliance of communist parties swept the parliamentary and provincial elections.
K P Sharma Oli was today sworn in as Nepals Prime Minister for the second time, weeks after his Left alliance with former Maoist rebels swept the historic parliamentary polls, kindling hopes for much-needed political stability in the Himalayan nation. Deuba's resignation comes in the wake of the UML alleging that he was unnecessarily prolonging his stay in the government over ambiguous constitutional provisions.
The Left Alliance of CPN (UML) and CPN (Maoist Center) had registered substantial win in the historic parliament and first ever local assembly elections.
The veteran Nepalese politician became Nepal's prime minister for the fourth time in May previous year after the main opposition party chose to end the obstruction of parliament. He served as the prime minister of Nepal from 1995 to 1997, 2001 to 2002, and from 2004 to 2005.
In January, 16 ministers belonging to Nepal's CPN (MC) resigned from the cabinet following a decision by the ruling party. The left alliance partner CPN (Maoist Center) will prop up his claim.
Prime Minister Sher Bahadur Deuba made the announcement on Thursday, a day after the results of the November and December 2017 elections were finalised.