Egyptian President Hosni Mubarak. (AP)
Egyptian President Hosni Mubarak will transfer power to Vice President Omar Suleiman, according to a senior member of Egypt's governing party.
The British Broadcasting Corporation (BBC) quoted Hossan Badrawi, the secretary-general of the National Democratic Party (NDP), as saying Mubarak would "most probably" speak to the nation tonight.
The BBC's website earlier said the scenario of Mubarak stepping down was being discussed.
Thursday is the 17th day of protests against Mubarak's 30-year rule.
The BBC's senior correspondent in Cairo Lyse Doucet, said the fact that Mubarak's departure is even being discussed is a huge development.
Military and ruling party officials said Mubarak would speak to the nation soon and meet the demands of protesters. Protesters are insisting he step down immediately.
Military officials say the armed forces' supreme council has been meeting all day long and will issue a communique shortly that they say will meet the protesters' demands.
In Washington, the chief of the Central Intelligence Agency (CIA) also said his information indicates Mubarak could be out by Thursday night.
There is a “high likelihood” of that, Leon Panetta told Congress, without saying exactly how the CIA reached that conclusion. He said Mubarak’s exit would be “significant” in moving Egypt to an “orderly transition” of power.
Egypt’s military announced on national television that it has stepped in to “safeguard the country” and assured protesters that Mubarak will meet their demands.
That’s the strongest indication yet that the longtime leader has lost power.
At the White House, spokesman Robert Gibbs said the situation was “fluid.”
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