Earlier, Wickremsinghe that while his government still has the majority in Parliament, it was decided to respect the mandate given to Gotabaya Rajapaksa at the Presidential election and step down.
The decision follows defeat of his party’s candidate Sajith Premadasa at the Presidential elections held on Saturday.
Rajapaksa will function as Prime Minister of the caretaker cabinet until the general election, to be held next year.
The former president was appointed the Prime Minister on October 26, 2018 by the then President Maithripala Sirisena, who sacked Wickremesinghe in a controversial move that plunged the country into an unprecedented constitutional crisis.
He resigned in December as two crucial Supreme Court decisions made the former strongman’s efforts to cling to premiership untenable.
The apex court later unanimously declared that the dissolution of Parliament by Sirisena was “illegal”.
Meanwhile, a tussle has begun between supporters of Wickremsinghe and Sajith Premadasa over control of the United National Party (UNP).