Pakistan's former ruling Peoples Party and the opposition Muslim League (PML-N) Tuesday failed to reach an agreement on a consensus name for the caretaker prime minister and now the issue will be referred to a parliamentary committee, local media reported.

Both parties had three days to make a decision by Tuesday but were unable to remove differences over the nomination of caretaker prime minister.

An eight-member parliamentary committee, four members each from the two sides, was formed to evolve a consensus for appointing caretaker prime minister, officials said.

The Pakistan Peoples Party (PPP) named three former cabinet ministers and a senior leader of its ally while the PML-N nominated four of its senior leaders for the committee.

Under the constitution, the parliamentary committee has to evolve a consensus on one name for the caretaker prime minister within three days and if it fails, then the matter will go to the Election Commission to finalize one name out of four, who have been proposed by the PPP and the PML-N.

Leader of the opposition, Chaudhry Nisar Ali Khan, said on Tuesday that the government wants a "comprise" on the appointment of the caretaker prime minister. He alleged that the government had offered the PML-N to appoint a caretaker Chief Minister of its own choice and that the PML-N should not object at the PPP's choice for the caretaker prime minister.

The PPP had initially proposed the names of former Finance Minister Dr. Abdul Hafeez Sheikh, former State Bank Governor, Dr. Ishrat Husain, and a retired judge of the Supreme Court Mir Hazar Khan Khoso for the position.

The PML-N had proposed the names of former top court judges Nasir Aslam Zahid, Shakirullah Jan and a senior nationalist political leader Rasul Bakhsh Palijo.

Both parties later withdrew one name each from their lists and the parliamentary committee will review the names.

Section of the media also reported that both sides are likely to propose new names. But it would be clear on Wednesday when the names are referred to the committee.