Islamabad: Clock is ticking for Pakistani President Pervez Musharraf. If everything goes well as per the plans of ruling parties in Pakistan, the President may lose his powers soon. The coalition Pakistan govt is contemplating not to impeach him, but to clip his powers.

The proposed law will change the whole balance of power in Pakistan with Musharraf left with no option but to resign because he will turn out to be just a ceremonial head, The News said on Saturday.

Quoting "highly-placed" sources, The News said Pakistan People's Party (PPP) co-chairman Asif Ali Zardari and Pakistan Muslim League chief Nawaz Sharif have decided on the legislation despite "all internal and external pressures".

The newspaper said the PPP and the PML-N have also agreed on not impeaching Musharraf.

Initially, Sharif was of the view that Musharraf must be tried in a court of law under treason charges, but Zardari disagreed.

The PPP co-chairman has suggested that instead of targeting one individual, they must prune the powers of the president, which were used to weaken democracy in Pakistan, The News said.

"Zardari told Sharif that the army high command would react negatively to any humiliation of their former chief," said the newspaper.

If passed, the legislation will render the position of president as a figurehead, with actual powers lying with the parliament.

Source : IANS