Srinagar, Nov 18 (PTI) National Conference, the oldest political party of Jammu and Kashmir, on Friday issued notification for holding elections to the post of president after incumbent Farooq Abdullah announced his decision to step down.NC general secretary Ali Mohammad Sagar issued the notification for election which will be held on December 5, the birth anniversary of party founder Sheikh Mohammad Abdullah.According to the notification, the last date for filing of nominations for the post is December 1.There is widespread speculation that the 85-year-old Abdullah will assume the role of party patron and his son Omar Abdullah, currently the party"s vice-president, is likely to succeed him as the new chief.Earlier in the day, Farooq Abdullah said he will not be contesting the election for the party president "Anyone from the party can contest for the post. It is a democratic exercise," Abdullah, who is a Lok Sabha MP, said.Farooq Abdullah became National Conference president for the first time in 1983. PTI MIJ DV