Fayez Al-Sarraj, head of Libya's internationally-backed government based in Tripoli, yesterday announced plans to step down by the end of October, news agencies reported.
As he was delivering a speech on state TV, Al-Sarraj said that he will hand over power to a new executive authority, noting this is part of efforts being exerted to find a political solution to the country's conflict.
"I declare my sincere desire to hand over my duties to the next executive authority no later than the end of October," he said.
"Hopefully, the dialogue committee will complete its work and choose a new presidential council and prime minister," he added.
Citing the work of UN-sponsored talks in Geneva, Al-Sarraj said they led to a "new preparatory phase" to unify Libyan institutions and prepare for parliamentary and presidential elections.
Al-Sarraj is head of the Tripoli-based Government of National Accord (GNA), which was formed in 2015, while eastern Libya and much of the south is controlled by renegade military commander Khalifa Haftar's Libyan National Army (LNA).
Following the defeat, international pressure to bring the two rival parties together increased leading to ceasefire and dialogue meetings in Geneva and Morocco.