Earlier on Monday, opposition party Samagi Jana Balawegaya (SJB) unanimously decided to nominate Sajith Premadasa for the interim president's post.

SJB said that the party secretary Ranjith Madduma Bandara submitted the proposal and it was seconded by party chairman Field Marshal Sarath Fonseka at the parliamentary group held this afternoon, reported Newswire.

SJB has nearly 50 MPs in Parliament and to win a Parliament vote they need the support of 113 MPs.

Meanwhile, opposition leader Sajith Premadasa said that he is ready to protect the motherland and build the country's economy, reported News 1st.

In a statement to the media, Sajith Premadasa said that the opposition is ready to lead the program of stabilizing the country and building the country's economy.

The opposition leader said that there is no alternative solution other than the appointment of the government led by a new president and the prime Minister.

Sri Lankan party leaders have decided to elect a new president on 20 July through a vote in Parliament in accordance with the provisions of the Constitution, Speaker Mahinda Yapa Abeywardhane said today.

He said it was decided to convene parliament this Friday, 15 July and inform the House that there is a vacancy for the Presidency according to the provisions of the Constitution, reported Daily Mirror.

"Nominations for the presidency will be called for on 19 July and a vote will be taken on July 20 to elect a new President," he said.

President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe both announced to step down from their positions after intensified protests by Sri Lankan commoners.