World Bulletin/News Desk

Several prominent Egyptian intellectuals and public figures are proposing a four-point initiative to break the political turmoil that has gripped the country since the army's overthrow of elected President Mohamed Morsi.

The initiative, to be announced at a press conference later Saturday, stipulates that interim President Adly Mansour delegate his authority to a new caretaker government that would call for immediate parliamentary polls.

Based on the results of the elections, a permanent government would be formed and start preparing the ground for early presidential elections in accordance with the 2012 constitution, which has been suspended by the military.

The initiative, which will be unveiled at a press conference at Medical Syndicate headquarters, is sponsored by a number of high-profile figures, including Hasan al-Shafae, adviser to Al-Azhar Grand Imam Ahmed al-Tayeb; Seif Abdel-Fattah, former presidential political advisor; and Nadia Mostafa, a political science professor.

Signatories also include legal authority Tareq al-Beshri and Mohamed Selim al-Awa, a former presidential contender.

On July 3, Egypt's powerful military ousted Morsi, the country's first democratically elected president.

It suspended the constitution and installed Mansour, the head of the constitutional court, as interim president.