Prime Minister Keizo Obuchi said Monday he has no intention of dissolving the House of Representatives for snap general elections at this moment.

"Now is the time when we must carry out drastic measures to address serious economic and financial problems confronting our nation. I have no intention of dissolving the house now," Obuchi said during the day's Lower House plenary session.

The prime minister made the remarks in response to demands from opposition parties that the chamber be dissolved on the grounds that Obuchi's Cabinet does not reflect the will of the people.