A final agreement was reached Tuesday on the electoral law in Lebanon after years of political wrangling, local media reported.
The ministerial committee will convene later in the day to approve the final draft ahead of Wednesday's cabinet session, the LBCI TV station added.
"An agreement has been reached on the electoral law and all obstacles have been resolved," it said.
According to the report, the parties agreed that any electoral list has to reach a certain threshold to become eligible to win seats. The threshold is determined by the so-called electoral quotient: the total number of voters in a certain district divided by the number of seats.
The so-called preferred vote will meanwhile be counted in the administrative district and not in the electoral district, a demand that the Free Patriotic Movement had long called for.
The parties also agreed that expat voting will be introduced in the next elections and that the diaspora will be granted six seats.
However, no agreement was reached on the issues of "allowing the armed forces to vote, lowering the voting age and introducing a women's quota."
Lebanese President Michel Aoun and Prime Minister Saad Hariri are meanwhile supposed to agree on the elections date, as per the agreement.
The political parties had intensified their meetings Tuesday to devise a final format, reports said.
PM Hariri had reassured Monday that Lebanon "will have an electoral law on Wednesday."
In remarks published Sunday, MP Georges Adwan, representing the Lebanese Forces, had stressed that the parliament will pass the new electoral law in its Friday session, which requires the approval of the draft electoral law during Wednesday's cabinet session.
Adwan has played a key role in promoting a draft electoral law fully based on the proportional representation system and 15 electoral districts.
The parties have agreed on the law's general format but they are still discussing the mechanism of counting votes going for so-called preferred candidates on the electoral ballots and whether the voting should depend on the electoral districts or the administrative districts.
The Free Patriotic Movement argues that counting preferred votes in the smaller administrative districts would grant Christians a higher ability to choose their representatives with their own votes.