The minister had earlier given an ultimatum on Wednesday that he would come up with a decision after three days about resigning from the cabinet but sources yesterday said he might not stick to this.

Saifur demands punitive action against Ilyas Ali MP, who headed the now dissolved Sylhet district committee of the BNP and leads the party faction opposing him.

Sources said the party high command has expressed dissatisfaction on the finance minister's ultimatum. "Saifur Rahman, the senior most leader of the party, by now has learned about the prime minister's views in this regard," a top leader of the party said seeking anonymity.

Meanwhile, Education Minister Dr Osman Farruk yesterday once again ruled out the possibility of his assuming the office of finance minister while speculations about this persist in the wake of Saifur's resignation threat.

Talking to some journalists at his office, Farruk dismissed press reports on this issue as 'mere rumours'.

"None from the government had any talks with me in this regard," the education minister said. He however admitted he met BNP Senior Joint Secretary General Tarique Rahman. " I met him to discuss political events in Kishoreganj (Farruk's home district)."