COLOMBO - Sri Lanka's Prime Minister Ranil Wickremesinghe on Wednesday stepped down from his post, just days after his presidential candidate, Sajith Premadasa, lost the presidential polls, his office said.

The government information department said Wickremesinghe will inform newly-elected President Gotabaya Rajapaksa in writing of his decision to step down from his position.

The decision was reportedly taken to facilitate Rajapaksa to form his own government after he won last Saturday's presidential elections, the government information department added.

Rajapaksa won the elections by securing over 6 million votes, defeating ruling party candidate Sajith Premadasa who secured over 5 million votes.

Local media reports said that following Wickremesinghe's resignation, Rajapaksa is likely to form a caretaker government within this week.