The whole nation's eyes and ears will be glued to the media today for a historic announcement on Prime Minister Dr Mahathir Mohamad's position, to be made after the Umno supreme council meeting scheduled for 4pm.

The meeting to be chaired by deputy president Abdullah Ahmad Badawi at the party headquarters will brief council members on what had been agreed upon by Mahathir and the party's management committee.

At 6pm, Abdullah, who is also deputy prime minister, will relay it to the Barisan Nasional supreme council comprising leaders of component parties in the ruling coalition.

Last Saturday at Umno's annual general assembly, Mahathir, the Umno president and BN chairperson, announced that he will relinquish all his posts in the party, BN and government.

It was broadcast live nationwide and sent shockwaves across the country.

However, after a one-hour break, Abdullah told the Umno delegates that Mahathir had agreed to revoke his resignation.

But Mahathir has yet to make any public statement since and left for Italy for a holiday on Sunday immediately after he met the party's management committee at his residence.

The committee members are Abdullah; Umno vice-presidents Najib Abdul Razak, Muhyiddin Yassin, Muhammad Muhd Taib; secretary-general Khalil Yaakob; Wanita chief Rafidah Aziz; and youth chief Hishammuddin Hussein.

Transitional period

Major local newspapers today pointed towards a possible change of national leaders soon.

Malay daily Utusan Malaysia on its front page reported that Mahathir had agreed with an unspecified transitional period to hand over his duties to his successor.

The transitional period was said to be the result of a "compromise" between Mahathir who had wanted to go immediately and the Umno supreme council who wanted him to stay on.

International news agency Reuters quoted government and party sources as saying that Mahathir will stay on for 15 months before handing over his powers.

The agency said that based on a deal struck with party leaders over the weekend, Mahathir will continue in his posts until late 2003 before handing over to Abdullah.

Meanwhile, Muhyiddin was quoted in Utusan Malaysia as saying that Mahathir who has been the Prime Minister for 21 years expressed his wish to spend more time with his family and grandchildren.

Muhyiddin, who is also minister for domestic trade and consumer affairs, in a separate news report said Mahathir's resignation will not create instability in the country as the government has its systems and mechanisms in place.

Strong economic foundations

International Trade and Industry Minister Rafidah Aziz said Mahathir's resignation would not affect the country's economy because Malaysia has strong economic foundations.

"All Malaysians and the whole world were prepared for this day. In fact, Dr Mahathir had repeatedly said he would step down soon," she was quoted as saying.

English daily New Straits Times reported that the Umno management committee will meet at 2.30pm ahead of the party's supreme council meeting.

For more updates, watch this space.