Yemeni President Ali Abdullah Saleh said in a televised speech Sunday that he remains committed to implementing the Gulf Cooperation Council's (GCC) initiative on power transfer, and called for dialogue with his opponents.

Saleh was delivering his first speech since he returned to Yemen Friday after receiving medical treatment in Saudi Arabia. He was severely injured in an attack on the presidential palace in Sanaa on June 3.

In the speech marking the 1962 Yemeni revolution that brought him to power, Saleh thanked Saudi Arabia and the United States for their assistance to Yemen in coping with the economic crisis and fighting al-Qaida militants.

He also promised to hold presidential, parliamentary elections in the country once a peace deal is reached between his government and the opposition, under the supervision of the GCC deal.

"We are not with coups, but with legal demands," he said.

"The crisis is severe and the turmoil is upgraded ... it is time for wise people and the politicians of the opposition to act and reconsider the situation for the security, unity and integrity of Yemen," he said.

"If the opposition agrees, we are then ready to compete on early presidential, parliamentary and local council elections ... but if the opposition doesn't, then we reiterate that we are still committed to the GCC deal and the authorization of Vice President Hadi to sign the deal remains valid," Saleh added.

The veteran president, who confronted eight-month-long mass protest to demand an end to his 33-year rule, admitted in his speech that his country is witnessing the most-ever hardship in Yemen's history since the eruption of the protests in late January.

Saleh also blamed the economic and political crises for the opposition coalition Joint Meeting Parties (JMP) and the defected army.

Following his speech, the ruling party members fired fireworks and heavy gunfire to the air to celebrate the address of Saleh, as up to five protesters and civilians were injured by random celebratory gunshots, according to medics.

When Saleh was speaking, tens of thousands of protesters gathered in central Sanaa, demanding Saleh's resignation. At least one protester was killed Sunday when troops loyal to the government fired shells at a camp of protesters in the capital city.

On the other side, spokeswoman of the opposition National Council, Houria Mash'hour described Saleh's speech as "deadly boring", according to the opposition media.

Meanwhile, local analysts concluded the president's speech had nothing new and that Saleh's return might not end the crisis in the country.

Abdul Raqeeb al-Hathyani, a political analyst in Aden, said "Saleh has just thrown the ball into his deputy's field."

Yemeni Vice President Abd-Rabbu Mansour Hadi earlier told EU envoys to Yemen that "the government and the opposition are inching toward an initial compromise to end the months-long turmoil."