Singapore's Prime Minister Goh Chok Tong has decided on an exact date for handover of premiership to Deputy Prime Minister Lee Hsien Loong and will announce it in mid-July after finishing his next overseas visits, according to local press reports on Sunday night.

Speaking at a ruling People's Action Party (PAP) event on Sunday, Goh said that he has decided on an exact date for his stepping down and will announce it when he returns from his next official trip to India and Iran in mid-July.

While promising that he will not reshuffle the current cabinet before he gives up his position of premier, Goh said that he wants to leave it to the new Prime Minister to give new direction to the Cabinet.

Goh added that he will also resign as the secretary-general of the ruling PAP in December when the party holds its mass rally.

The premier said that the recent visits by him to Pakistan, Bangladesh and Sri Lanka made him more convinced that Singapore's system of stable self-renewal and handing over of power was best for it.

"So I come back even more determined that we should keep our systems of political self-renewal going, not just me following the precedent set by comrade Lee Kuan Yew, but hopefully my example will be set by future prime ministers that the PM will govern for as long as he's making a good contribution but at the right time he would of course pass on to somebody or a group of people whom he has nurtured," Goh said.

In 1990, Goh succeeded Lee Kuan Yew as Singapore's second prime minister since independence in 1965.

Lee Hsien Loong, the oldest son of Lee Kuan Yew, is also Singapore's Finance Minister. He said recently that he will act in his own way when he becomes the island state's third prime minister.

Source: Xinhua