Prime Minister Pakalitha Mosisili of Lesotho addresses the United Nations General Assembly in the Manhattan borough of New York, NY, U.S September 23, 2016. REUTERS/Eduardo Munoz/File Photo

MASERU (Reuters) - Lesotho’s prime minister Pakalitha Mosisili has conceded defeat in a parliamentary election to his opponent Thomas Thabane, the government said, easing concerns of political instability in the mountain kingdom.

“His Majesty King Letsie III has accepted the resignation of The Right Honourable the Prime Minister, Dr. Pakalitha Mosisili,” a government statement received on Friday said.

Mosisili will remain in his position until Thabane is sworn in, the statement said.

Thabane’s All Basotho Convention won 48 parliamentary seats, compared with 30 won by Mosisili’s Democratic Congress, results released on Tuesday showed.