By Elmo Fernando BBC Sandeshaya, Colombo

	General Fonseka (l) is expected to challenge President Rajapaksa at the polls

United Peoples Front Alliance (UPFA) Secretary General Susil Premjayanth told BBC Sinhala service that the president has informed the election commissioner on Monday of his decision to hold the presidential election.

Mr. Rajapaksa's six-year term does not end until November 2011.

“Any president, according to Sri Lanka's constitution, can call for a snap election after serving four years in office,” Minister Premjayanth told BBC Sandeshaya.

'Common candidate'

Correspondents say Mr Rajapaksa wants to hold early elections to benefit from the military defeat of Tamil Tiger rebels earlier this year.

Local media reports say the elections are likely to be held in mid-January.

The latest announcement came as the former army General Sarath Fonseka, who led the army to victory over the rebels, is expected to challenge the president.

The opposition Janatha Vimukthi Peramuna (JVP), meanwhile, says that it held discussions with Gen. Sarath Fonseka as soon as the announcement on the presidential elections was made.

JVP parliamentary group leader, Anura Kumara Dissanayake, MP, told BBC Sandeshaya that the discussions were focused on fielding the former military chief as the 'common candidate' against President Rajapaksa.

"The discussions were very optimistic but we ended talks today with a view of holding few more rounds," he said.