According to sources in the farmers' umbrella body, once unions get a formal communication from the government on the consented draft proposal, the agitation will end.
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The farmers' protest had started at the three Delhi border points - Ghazipur, Singhu, and Tikri - on November 26.
Their pending issues comprise withdrawal of the draft Electricity Amendments Bill, 2020/2021, surety on Minimum Support Price, compensation for the families of farmers who died during the protest, and withdrawal of criminal cases against farmers.
"Consensus has reached on government's fresh proposal. Now, a formal communication signed on the government's letterhead is awaited. SKM will meet again on Thursday at 12 noon, at Singhu Border, to take a formal decision thereafter to lift the morchas," the SKM said in a statement post its core committee meeting on Wednesday.
Bharatiya Kisan Union (BKU) leader and SKM core committee member Gurnam Singh Chaduni said at a press conference that no decision has been taken yet on withdrawing the agitation and they will decide on suspending the protest after the meeting on Thursday.
"We are in agreement with the government regarding our demands," Chaduni said.
He stated that the earlier draft from the government on pending demands was not acceptable to them after which a new proposal was received from the Centre on Wednesday.
Also Read: Farm laws: Here's a timeline on farmers' year-long agitation
Meanwhile, the government has said that "all the demands of the agitating farmers have been agreed upon. Hence, there is no point in continuing the protest."
The five-member panel of the SKM has farmer leaders Balbir Singh Rajewal, Ashok Dhawle, Shiv Kumar Kakka, Gurnam Singh Chaduni and Yudhvir Singh.
On December 4, SKM picked five people to be part of a committee empowered to hold discussions with the government on behalf of all the protesting farmers.
On November 29, a bill was passed in Parliament to repeal the three contentious farm laws, one of the main demands of the protesting farmers.
But the stalemate continues with the protesters demanding that the government fulfil their other demands too.