Maduro in a speech to supporters on Saturday said it would be up to the pro-government constitutional assembly to decide whether or not to back his proposal.
Nicolas Maduro speaking to his supporters Elections for the opposition-controlled National Assembly aren't supposed to take place again until 2020.
National Assembly President Juan Guaido is leading a charge to force Maduro from power after he took the oath of office last month for a second, six-year term widely considered illegitimate.
Also Read: Fresh missile race begin for America and Russia?
Maduro has described the latest protests against his rule as part of a US-led coup attempt and called on his supporters to organize their own march in defense of his Bolivarian Revolution.
The socialist leader also had words for the administration of US President Donald Trump which recently imposed sanctions on Venezuelan oil exports in an effort to undermine Maduro's main source of income and weaken his grip on the country.
The standoff comes amid what appears to be growing dissension among the ranks of the country's powerful military.
Also Read: Russia will abandon nuclear arms treaty: Putin
Earlier on Saturday a Venezuelan air force general defected from the Maduro administration and called on his compatriots to participate in protests against the socialist leader's rule.
Gen. Francisco Yanez is the first high ranking officer to leave Maduro's government since January 23, when Guaido declared himself the country's legitimate leader by invoking two articles of the Venezuelan constitution that he argues give him the right to assume presidential powers.
The military controls some of Venezuela's key assets including the state run oil company, and until now, its top brass has helped Maduro to survive rounds of mass protests in 2014 and 2017 by jailing activists and repressing protesters.
