Nepal Prime Minister Pushpa Kamal Dahal ‘Prachanda’-led CPN (Maoist Centre) and three other Left parties on Monday jointly announced the formation of a socialist front.The ruling parties - CPN (Maoist Centre), People’s Socialist Party (JSP) and CPN (Unified Socialist) Party - and CPN Communist Party (JSP), which is not in the government, signed a Memorandum of Understanding (MoU) at an event here to form the Socialist Front Nepal. The MoU was signed by CPN Chairman Prachanda, JSP Chairman Upendra Yadav, CPN Chairman Madhav Nepal and CPN General Secretary Netra Bikram Chand. According to party sources, initial preparations are being made to create a two-level structure to operate the front while long-term preparations are being made for the formation of a coordination committee consisting of top leaders .