The immediate reaction in Pakistan’s corridors of power and streets to the resignation of President Pervez Musharraf was one of optimism and opportunity.

“His resignation will bring stability hopefully,” said Foreign Minister Shah Mahmood Qureshi. He noted that the stock market, which had suffered in recent sessions, had reacted positively.

Aitzaz Ahsan, the leader of a lawyers’ movement that has been pushing for Musharraf’s ouster and the reinstatement of 57 dismissed judges, said the resignation was a cause “to rejoice”.

The governing coalition that engineered the ouster of Musharraf must now face a range of potential problems, minus the main factor that unified it — opposing him.

Zardari and Sharif will have to reach an agreement on the choice for the next President. So far, there are few clues about the contenders.

A more immediate challenge is the judiciary, which Musharraf tried to weaken over its opposition to his rule as both Pakistan’s military and civilian leader. Sharif has insisted on the reinstatement of the 57 Supreme and high court judges, including Chief Justice Iftikhar Muhammad Chaudhry, after their dismissal under emergency rule last November. But Zardari holds that judges appointed during the emergency should also be retained.

Beyond that, the coalition will now hold sole responsibility to cope with a deteriorating economy and the continued threat from a resurgent Taliban. Musharraf lost popular support in Pakistan over efforts to contain the Taliban that were seen as appeasement toward the US.

“I think the political leaders have no excuse now,” said Rasul Baksh Rais, a political analyst who teaches political studies at Lahore University of Management Sciences. “They have to address the immediate issues like inflation and the long-term structural problems of Pakistani polity. They can’t use Musharraf as an excuse any more.”

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