Pakistan's ruling coalition is preparing a draft of possible impeachment charges against President Pervez Musharraf to be filed Tuesday. They involve violation of the constitution and misconduct.
Speculation has been mounting that former army chief and firm
The president's spokesman has insisted Musharraf would not resign but would face the accusations. He dismissed as malicious reports of the president's imminent resignation and said they were damaging the economy.
But negotiations on an exit for the president have been going on, officials have said, while media have reported important ally
A coalition team has finished drafting impeachment charges and handed them to the minister of law for scrutiny, Ahsan Iqbal, a member of the drafting team, told Reuters.
"There is a long list of charges against him ... we will file them, by the latest, by Tuesday," said Iqbal, a senior official of the second biggest coalition party, led by former prime minister Nawaz Sharif.
The long-running crisis surrounding Musharraf's future has heightened concern in the
Political uncertainty has also sapped investor confidence, with the rupee weakening on Saturday to another record low against the dollar, at about 76.60/65, the fifth straight session of record lows.
Pakistani stocks, which surged under Musharraf's rule until this year, have been hovering near two-year lows but rose 3.6 percent on Friday as investors cheered rumours of his departure, a move they viewed as a milestone that would ease political tension.
Musharraf seized power in a 1999 coup. His popularity began to evaporate last year when he clashed with the judiciary and imposed a six-week stint of emergency rule to thwart opposition to his efforts to secure another term.
Iqbal said Musharraf's Nov. 3 imposition of emergency rule was a main charge on the list.
Coalition officials have hoped Musharraf would resign rather than face impeachment and they said on Friday that talks included immunity from prosecution if he stepped down, and the question of a safe place for him to live.
Tariq Azeem Khan, a politician close to Musharraf and a former deputy government minister, said on Friday "well-wishers" were trying to ensure the matter was settled through talks rather than by impeachment.
Government officials and Musharraf's spokesman both denied media reports Saudi Arabian intelligence chief, Prince Muqrin bin Abdul-Aziz, who mediated in
Muqrin met Musharraf and his main adversary Sharif, the prime minister Musharraf ousted in 1999, media reported.
Sharif has adamantly opposed indemnity for Musharraf if he does resign. Bhutto's party says the question of whether Musharraf should be put on trial should be left to parliament.
As pressure has mounted on Musharraf, questions have been raised about the reaction of the army, which has ruled for more than half the country's history since its founding in 1947.
But coalition leaders said this week the army would not intervene to back its old boss. Analysts say the army is loath to step into the fray.
Date created : 2008-08-18