Tunisian President Kais Saied formally asked on Wednesday Prime Minister Elyes Fakhfkah to resign, in what appears to be a step to contain the country’s political crisis, the independent radio station Mosaique FM reported.

Ennahda Party, the biggest in the Tunisian parliament, decided to withdraw confidence from the government of Fakhfakh, whom it says has lost credibility due to an alleged conflict of interest.

An independent member of parliament published documents last month indicating that the prime minister owns shares in companies that had won deals worth 44 million dinars ($15 million) from the state.

Fakhfakh has denied all the accusations and promised to step down if investigators find wrongdoing.

Earlier this week, President Saied opposed Ennahda’s calls for the PM to resign.

On Monday, the PM announced that he will conduct a cabinet reshuffle in the coming days in what appears to be a step to remove Ennahda's six ministers from the government.