(MENAFN- Live Mint) Hamas has agreed to a 60-day ceasefire with Israel that would see the release of half the hostages in Gaza in exchange for some Palestinian prisoners, an Egyptian official said on Monday – in an Egypt-brokered peace proposal that could bring some relief to Palestinians after nearly two years of war in Gaza.

Earlier, all efforts to end nearly two years of fighting in Gaza have repeatedly collapsed. While Israel has maintained that Hamas must disarm and release all remaining hostages before the war can end, Hamas has demanded a full Israeli withdrawal from the devastated territory.

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A diplomat, privy to the development on the negotiations in Israel-Hamas talks, said the peace proposal would see Hamas release half of the hostages it has held since October 7, 2023 – when Hamas militants stormed into the Israeli territory and abducted hundreds. Also Read | Hamas ready for ceasefire talks 'immediately', Donald Trump says 'that's good'

According to the reports, Hamas still holds as many as 50 hostages from Israel.

As per the Egypt-brokered peace plan , Israel would free Palestinian prisoners and partially withdraw Israeli troops if Hamas releases half of the still-held prisoners. The deal could pave the way to a more comprehensive agreement.

If agreed upon by both Palestinian authority and Israel, the peace plan would see suspension of the Gaza war for 60 days. It would also begin the outlining of a framework for a comprehensive deal to end the nearly two-year-old war.

Commenting on the fresh proposal, Israeli Prime Minister Benjamin Netanyahu said,“I, like you, am hearing media reports and one thing is clearly evident: Hamas is under enormous pressure .”

And Hamas said, "Today, the resistance has thrown the door wide open to the possibility of reaching an agreement, but the real test remains whether Netanyahu will refrain from shutting it again, as he has done in the past.” Hamas official Mahmoud Mardawi said in a statement.

(With inputs from agencies)

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