Negotiators have yet to come up with a long-term solution to end the Gaza conflict, with Hamas militants saying it would not extend the temporary truce nearing its end unless its conditions were met.

Israeli and Palestinians delegates convened in Egypt as the 72-hour cease-fire entered its final hours on Friday, aiming to extend the truce which will officially end at 8 am local time.

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Israeli minister Yaakov Peri expressed Israel's willingness for an extension of the truce under the present conditions and said the Egypt-brokered truce would be good for both sides, Reuters relayed.

However, militant group Hamas controlling the border said an extension would only be possible if Israel would agree with its conditions, including the lifting of border restrictions in the Gaza strip.

In a televised statement, Hamas armed wing's spokesman Abu Ubaida urged its delegates to stop negotiating for a long-term cease-fire if its conditions will continue to be ignored by the parties. Hamas also called on Egypt to ease its border restrictions.

"We urge the Palestinian delegation negotiating not to renew the truce except after the acceptance in principle, particularly to establish the seaport, and if there is no acceptance then we ask the delegation to withdraw from talks," he said.

Abu Ubaida added that Hamas and other militants in the Gaza strip are ready to resume its offensive against the Israel and warned that they would bring the Jewish state "into a long war of attrition or we will draw them into a broad territorial war."

The failure to extend the cease-fire would result in the resumption of offensives between the militants and highly-armed Israeli Defense Forces that killed so far over 1, 800 Palestinians and most of those victims were civilians. More than half a million people in the enclave were also displaced.

The month-long conflict also left the Gaza strip devastated, with most of the houses destroyed by the Israeli shelling, and even markets reduced to rubble. Hamas threatened to retaliate in an offensive which it said would paralyze the Israeli economy.

The United Nations also called on the concerned parties to come up with a long-term solution that would put an end to the Gaza bloodshed

During a special U.N. General Assembly meeting, Secretary General Ban Ki-moon said they should immediately put a stop to the "senseless cycle of suffering" in Gaza which killed civilians, children and U.N. staff working in evacuation shelters.

TagsGaza Strip, Israel, Egypt, Palestinians