The U.N.'s envoy in Libya revealed details of the new initiative to hold long-delayed elections.

Last month, Abdoulaye Bathily announced a new initiative to break the deadlock in Libya by creating a steering committee to hold the polls.

Addressing a press conference in Tripoli capital, Bathily said the initiative aims to expand the dialogue between Libyan parties to break the current stalemate.

"Successive interim arrangements, endless transition governments, legislative bodies whose terms of office have expired are a source of instability," Bathily said.

The U.N. envoy said the Libyan representatives will choose a "high-level team." He added that the U.N. mission in Libya would facilitate the negotiations to reach a compromise for holding the polls.

"There is no reason to delay the elections further ... With goodwill and determination, a clear roadmap for elections might be developed by mid-June," he said.

The U.N. envoy noted that the dispute still exists over the conditions for running for the presidential elections, despite the announcement by the Speakers of the East Libya-based House of Representatives and the Tripoli-based High Council of State about reaching an agreement on the constitutional declaration.

Oil-rich Libya has remained in turmoil since 2011 when longtime ruler Moammar Gadhafi was ousted after four decades in power.

The situation has worsened since last year when the Libyan parliament appointed a new government led by former Interior Minister Fathi Bashagha. Still, the head of the Tripoli-based government, Abdul Hamid Dbeibah, said he would cede authority only to a government that comes through an "elected parliament," raising fears that Libya could slip back into a civil war.