BECOMING CIVILIAN PRESIDENT
The Election Commission announced on Tuesday that parliamentary polls would be held on January 8, the date chosen by Musharraf, but the unpopular military leader has been warned the election will lack credibility if the emergency remains in place.
Opposition parties are considering whether to boycott the election as none of them expect it to be free or fair.
Political uncertainties were reflected on the Karachi stock market index, which closed up 0.6 percent on Tuesday, still around 4.5 percent below its pre-emergency levels and 11 percent off a life high struck on October 22.
Najam Sethi, editor of the Daily Times, believed Musharraf went to Riyadh to ask the Saudi authorities to guarantee Sharif's exile until at least after the election.
"The last thing he wants is Nawaz Sharif coming back in this highly charged environment," said Sethi, who believes Musharraf's best bet for support lay with Bhutto.
Musharraf let her return to Pakistan last month without fear of prosecution in graft cases she says were false.
On Monday, the Supreme Court, packed with government-friendly judges, struck down five challenges to Musharraf's re-election last month. The last one will be heard on Thursday.
Once the court clears the way, Musharraf has promised to step down as army chief and take the oath as a civilian president.
Musharraf has used the emergency to purge the court of judges who might have annulled his re-election. One of Sharif's key demands is restoration of the judiciary.
The Election Commission announced on Tuesday that parliamentary polls would be held on January 8, the date chosen by Musharraf, but the unpopular military leader has been warned the election will lack credibility if the emergency remains in place.
Opposition parties are considering whether to boycott the election as none of them expect it to be free or fair.
Political uncertainties were reflected on the Karachi stock market index, which closed up 0.6 percent on Tuesday, still around 4.5 percent below its pre-emergency levels and 11 percent off a life high struck on October 22.
Najam Sethi, editor of the Daily Times, believed Musharraf went to Riyadh to ask the Saudi authorities to guarantee Sharif's exile until at least after the election.
"The last thing he wants is Nawaz Sharif coming back in this highly charged environment," said Sethi, who believes Musharraf's best bet for support lay with Bhutto.
Musharraf let her return to Pakistan last month without fear of prosecution in graft cases she says were false.
On Monday, the Supreme Court, packed with government-friendly judges, struck down five challenges to Musharraf's re-election last month. The last one will be heard on Thursday.
Once the court clears the way, Musharraf has promised to step down as army chief and take the oath as a civilian president.
Musharraf has used the emergency to purge the court of judges who might have annulled his re-election. One of Sharif's key demands is restoration of the judiciary.
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