New Delhi, Feb 25 (IANS) Lok Sabha Speaker Meira Kumar Thursday said she was very happy that political parties had reached a consensus on holding a discussion on rising prices.

At a meeting of all political parties convened by the speaker Wednesday, it was agreed that the discussion would be held under rule 193, under which voting is not required and which the government is insisting on. The opposition's demand was that there should be an adjournment motion on price rise.

'I am very happy that all parties reached a consensus on the issue of price rise. It is a very important matter. The people are heavily hit by soaring prices of essential commodities,' she told reporters here.

Meira Kumar had Wednesday rejected the demand of an adjournment motion on price rise.

The Congress had said the government was ready to discuss all issues and requested the opposition to obey the speaker's ruling that the discussion would be held under Rule 193.

Leader of Opposition Sushma Swaraj will initiate the discussion in the Lok Sabha after question house Thursday.

Proceedings in both houses of parliament have been stalled for the last two days over the contentious issue.