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Strategies & Market Trends : India Coffee House

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To: JPR who wrote (8404)10/14/1999 11:36:00 AM
From: JPR  Read Replies (2) of 12475
 
Pakistan Coup Leader Under Pressure


Filed at 8:55 a.m. EDT 10/14/99

By The Associated Press

ISLAMABAD, Pakistan (AP) -- With the country firmly in his control,
Pakistan's military chief was reportedly seeking a way to restore
constitutional democracy, a presidential spokesman said today.

In a possibly ominous sign, however, troops sealed off the parliament
building, throwing out staffers and a few lawmakers, a day before the
legislature was scheduled to meet.

Since Tuesday's army coup ousted Prime Minister Nawaz Sharif, Gen.
Pervaiz Musharraf has been sequestered in meetings with politicians, past
and present, including conservative President Rafiq Tarar.

Tarar's spokesman, Irfan Siddiqi, said Musharraf is looking to restore
civilian rule -- an effort the president supports. In Pakistan, the
presidency is a largely symbolic post.

``The rehabilitation of the democratic process as soon as possible is a
goal shared by both men,' he told The Associated Press.

Before the coup, parliament had been slated to meet on Friday.

Soldiers today asked staffers and the few legislators who had returned to
their offices to leave the building. The troops then closed the building.

``They just told us to leave,' and provided no explanation, said one
worker who refused to give his name. Soldiers had closed down
parliament the night of the coup but had later allowed workers back in.

Pakistan's stock market, reopening for the first time since the coup,
plunged today, and authorities ordered tight restrictions on foreign
currency transactions.

Musharraf has not made any public statements since his televised address
to the nation early Wednesday morning.

According to political analysts in Pakistan, Musharraf could call early
elections; change the prime minister, but keep Parliament intact; induct a
national coalition government of politicians from Pakistan's many political
parties; create a civil administration of technocrats and retired politicians;
or run the country himself.

The army has ruled Pakistan for 25 of its 52 years, although the country
has had a fragile democracy for 11 years.

International demand has been building for a quick return to democracy.

In Washington, Secretary of State Madeleine Albright said the coup
created a ``level of uncertainty' in South Asia. She said U.S. officials
were trying to persuade Pakistan's military leaders to restore democratic
government.

``A military takeover of this kind ... does make it difficult to continue
business as usual,' she said.

U.N. Secretary-General Kofi Annan urged the army to restore civilian
rule quickly.

The International Monetary Fund, which last year negotiated a $1.6
billion loan to Pakistan, announced an immediate cutoff until democracy
is restored.

Economists say Pakistan's battered economy can ill-afford further delays
in international funding. Its foreign reserves are roughly $1.5 billion,
enough to cover only two months of imports, in a nation heavily
dependent on foreign shipments of even its staples, such as cooking oil.

Tuesday's swift coup -- sparked by Sharif's attempt to fire Musharraf --
capped months of growing army resentment against the premier for
backing away from the fight over Kashmir, a territory claimed by both
India and Pakistan. President Clinton pressured Sharif into convincing
Islamic fighters to pull back, reportedly outraging and humiliating army
leaders.

India and Pakistan have fought three wars in 52 years, and both
conducted nuclear tests last year.

Washington played down concerns about the coup's affect on Pakistan's
nuclear program, since it has always been under the military's control.

India put its soldiers on alert following the coup, a move the army
spokesman in Pakistan called ``ridiculous' and a ploy to raise
international concerns.

``India's action was totally absurd ... putting its forces on alert ... as if
Pakistan is going to precipitate a war,' Brig. Rashid Quereshi told The
Associated Press.

Many in both countries believe Musharraf orchestrated the incursion this
spring of Islamic militants into the Indian section of Kashmir. That
incursion led to months of bloody fighting with Indian troops.

The fighting -- which India says also involved Pakistani troops --
wrecked fledgling negotiations between the two countries and many
feared it would spiral into full-fledged war.

The location of Pakistan's ousted prime minister was unclear today.
Newspapers reported Sharif had been sent ``to an unknown destination.'
Official sources however told the independent news agency News
Network International that Sharif had been taken to his hometown,
Lahore.

In the days prior to Sharif's firing of Musharraf there were daily
newspaper reports that he had asked the army chief to resign so the
prime minister could put his own ally, Gen. Zia Uddin, in the job.

English language newspapers today reported that several pro-Sharif
military officials had been arrested and would be tried in a military court.

Throughout Pakistan, people took the coup in stride and few longed for
quick elections.

``There should be no elections before accountability,' said Abdul Rashid,
a lawyer in Lahore.

The Karachi 100-Share Index plunged 8 percent in early trading today
because of panic selling by investors. It recovered some lost ground by
midday.

Meanwhile, Pakistan's growing isolation continued.

The Commonwealth -- a grouping of former British colonies -- said it
might suspend Pakistan's membership, a move last taken in 1995 against
Nigeria. The European Union also said it would postpone a new trade
deal with Pakistan for the time being.
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