Nepal is moving one step closer to ending political deadlock in the country. On Thursday evening, the country's Cabinet all resigned to make way for a national unity government by Sunday in the hopes that political parties can finalize a new constitution by the May 27 deadline. The top leaders of three major political parties and the Joint Democratic Madhesi Front said following a crucial meeting that they had reached a five-point agreement to form a national consensus government to promulgate the Constitution within the May 27 deadline, according to Nepali Congress central member Bimalendra Nidhi. He added that a national unity government was being tapped and they hoped a new government would be in place Saturday evening. Prime Minister Baburam Bhattarai will form the new government to include members of the main opposition parties. The parties have also agreed to sort out all contentious issues of Constitution drafting within the next three days and to promulgate it within May 27 deadline, according to Nidhi. The parties have also agreed to form a government led by Nepali Congress. As per the agreement Nepali Congress-led government will conduct the Parliamentary Election within one year after drafting the Constitution. The agreement was signed by UCPN-Maoist chief Prachanda, Nepali Congress president Sushil Koirala, CPN-UML president Jhala Nath Khanal and chairman of Madhesi Peoples Rights Forum, Bijaya Kumar Gachhadar. The Constituent Assembly was elected in 2008 with a mandate to draft the document within two years, but the deadline has been repeatedly extended amid little progress.