The time was fast running out for President Pervez Musharraf on Friday to resign amid a veil of “safe exit” before impeachment proceedings are initiated in Pakistan’s Parliament on Monday. But he asserted on Friday that he would not step down from the post of President.

Immunity from prosecution and a “safe exit” have reportedly been offered by the ruling coalition to the the 65-year-old former commando, provided he steps down before the impeachment proceedings are launched in Parliament.

There was also talk of a purely ceremonial presidency for the former army chief who has, however, maintained that he would face any impeachment and that he saw no reason to resign because he had been constitutionally elected.

A 100-page chargesheet, which will include serious charges of murder, subversion of democracy and embezzlement of funds, is being drawn up the coalition for being presented to Parliament. But Musharraf has given no indication that he will give up the power which he seized nine years ago by toppling then premier Nawaz Sharif, currently heading the PML(N).

As the impeachment proceedings gain momentum, media reports persist that the US, Britain and Saudi Arabia are putting pressure on the coalition leadership to give Musharraf an honourable exit.

Mark Lyall Grant, former British High Commissioner to Pakistan, and currently Director General in the Political Directorate of the UK Foreign Office, has met both Musharraf and Sharif to discuss a safe exit for the President.

Information Minister Sherry Rehman said that the ruling coalition has finished deliberations on the impeachment charges. The chargesheet will now go to coalition leaders Asif Ali Zardari and Sharif within the next three days for final approval before it goes to Parliament.

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