Plans are afoot to form a new party under the leadership of Field Marshal Sarath Fonseka, the current Deputy Leader of the Samagi Jana Balawegaya, multiple sources familiar with the matter said.

The move is backed by a number of former Army officers who held senior positions in the country's defence establishment.

It is learnt that Fonseka and his close allies are disappointed with the current direction of Samagi Jana Balawegaya led by Sajith Premadasa.

Our sources added that several rounds of discussions have been held with a group of SJB MPs in this regard.

They also added that discussions are underway to launch the party with a plan to contest the upcoming Parliamentary election.