The UNP will make a final decision on the party leadership at the Working Committee, a senior UNP spokesman told Asian Mirror.
He said former Prime Minister Ranil Wickremesinghe would give up reigns of the party with a proper plan for transition of powers.
The former Prime Minister has reportedly agreed to appoint his second in command Sajith Premadasa as the opposition leader.
The Working Committee is the topmost decision-making body of the party, in which majority members support Wickremesinghe.
However, UNP General Secretary Akila Viraj Karuyawasam recently said Wickremesinghe would relinquish party leadership soon.