Colombo, May 28- United National Party (UNP) headed by President Ranil Wickremesinghe today suggested holding a referendum to extend the term of the President and Parliament for two more years.

The proposal was made by UNP General Secretary Palitha Range Bandara today. 

"Extending the terms of the President and Parliament by two more years through a referendum is the best option at this moment to save the nation. The Government has reached agreements with the IMF, World Bank and other donors on economic reforms and it is essential to extend the terms of the President and Parliament to make this exercise a success,. Stabilizing the economy is more important than anything," Range Bandara told the media. 

"We propose a referendum to extend the terms of the President and Parliament as it is the most democratic way to do it," he added.