A Georgian political party on Thursday proposed an amendment to the constitution to allow billionaire Bidzina Ivanishvili's participation in the country's politics.

If approved, Ivanishvili, who was deprived of his Georgian citizenship by a presidential decree in October 2011, could run for this year's parliamentary elections, scheduled for October.

Under the proposed amendment, a Georgian-born individual, who has lived in the country in the last 10 years and who is now a citizen of a European Union state, is eligible for parliamentary elections.

Giorgi Targamadze, leader of the Christian Democratic Movement which floated the proposal, said that amendment was designed specifically for Ivanishvili with a goal of securing pluralistic electoral environment.

The parliament's legal affairs committee, which is in charge of public discussions of constitutional amendments, would start to consider the proposal on Friday, committee chairman Pavle Kublashvili said Thursday.

To secure his right to contest in the elections, Ivanishvili filed an application for Georgian citizenship in January.

In response, the authorities said Wednesday that he should first apply for dual citizenship before he applies for Georgian citizenship.