LONDON: Former Prime Minister and Conservative Party leader Boris Johnson have withdrawn from the race for the post of British Prime Minister.
Boris' withdrawal comes after Rishi Sunak announced his official candidacy in the Prime Ministerial race.
Boris Johnson has claimed he has enough public support to go through to the next round, but it is estimated to be less than those of rival candidateRishi Sunak.
In a statement, he said that without a united party in Parliament, effective governance is not possible.
To contest the election to become Prime Minister, the support of at least 100 members of the Conservative Party is required.
The ruling Conservative Party has a total of 357 MPs. Boris claimed to have the support of 100 MPs. But only 50 people declared their support for Boris.
Rishi Sunak has already received the support of 165 members. Penny Mordaunt currently has the support of only 30 MPs.
Ever since Liz Truss resigned, Rishi Sunak has been tipped to become the prime minister.
A large section of the Conservative Party believes that Sunak, who lost the prime ministership by just 21,000 votes in the polls, deserves the position.
They also believe that Sunak, a world-renowned economist, can find a solution to Britain's current financial crisis.
Boris Johnson's return is divided within the Conservative Party.
Liz Truss resigns as Prime Minister on the 45th day after taking office.
Liz Truss is the shortest-serving Prime Minister in UK history.
Truss has faced a lot of criticism for its economic policy that has plunged the country's market into a deep crisis.
He resigned after facing severe opposition from the party itself.
Boris resigned last July following several corruption allegations. He pointed out that Boris is not fit to lead the government.
The pressure created by the resignation of ministers and other senior leaders led Boris to resign.
The appointment of Chris Pincher, who is facing allegations of sexual abuse, as deputy chief whip, and a number of allegations, including the Partygate scandal, and anger and dissatisfaction with Boris have led to the outbreak of rebellion in the Conservative Party.