The decision was taken in the cabinet meeting held here, Abdul Rehman Veeri, parliamentary affairs minister, informed the legislative council.
Abdul Haq Khan, state rural development minister, will call an all-party meeting and discuss the issue with the leaders of all political parties, Veeri said.
The state government had decided on December 26 last year to hold the much-awaited panchayat elections from February 15, after Chief Minister Mehbooba Mufti held a meeting with Governor N N Vohra.
The militant-outfit, Hizbul Mujahideen, had last month threatened to pour acid on the eyes of those who took part in the elections.