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President Musharraf, 64, who has promised a fair election and warned the opposition not to protest against the result, pledged yesterday to work with the new government.
"Whoever wins the polls, as president of Pakistan, I will function with them in a totally harmonious manner," he said after voting.
This afternoon Asif Ali Zardari, Ms Bhutto's 51-year-old widower and successor as PPP leader, ruled out working with Mr Musharraf, who many Pakistanis blame the President for her death.
"For now, the decision of the party is that we are not interested in any of those people who are part and parcel of the last government," he told a press conference in Islamabad, adding the PPP would try to persuade Mr Sharif's party to join it in power. He was reported to have telephoned Mr Sharif last night to discuss forming a coalition government.
Mr Sharif and senior PPP figures have said they will try to impeach Mr Musharraf if they win a two thirds majority.
"We want to put Pakistan back on the track of democracy, constitution and rule of law, and the restoration of sacked judges is a must to achieve this goal," said Saqiq ul-Farooq, a spokesman for Mr Sharif's party this morning.
The PPP took the southern province of Sindh, its traditional stronghold, and also picked up votes in North West Frontier Province from Islamist parties that lost credibility by allying with Mr Musharraf.
The main battleground, though, was Punjab, which is home to 60 per cent of the population, accounts for 148 of the 342 seats in parliament, and has long been dominated by wealthy land-owning families.
The most symbolically important constituency there was in Gujrat, a city 70 miles north of Lahore which is home to the Chaudhrys – the country's most influential political family and Mr Musharraf's staunchest allies.
The race was between Chaudhry Shujaat, the PML (Q) leader, and Ahmad Mukhtar, a wealthy shoe magnate and PPP loyalist.
Mr Mukhtar told The Times he had spent 40 million rupees (£325,000) of his own money on his campaign and been forced to recruit his own personal militia to guard himself and his supporters.
"It was very important for us to do a lot of aerial firing," he said as he despatched armed men to polling stations to check reports of electoral abuses.
"They're such big crooks. You have to show that you have guns too and can protect people."
Mr Shujaat, meanwhile, was relaxing over a lunch of chicken biryani at his white-washed headquarters, swarming with dozens of heavily armed Punjab paramilitary police.
"I went to vote but otherwise I'm not going out," he said, scoffing at the suggestion that he was threatened by Mr Mukhtar.
Pervez Elahi, his cousin and the PML (Q) Prime Ministerial candidate, denied that the party had suffered because of Mr Musharraf's waning popularity.
"I don't see any negative effect," he said. "Hopefully we'll be able to form the government with our coalition partners."
However, unofficial results last night showed that Mr Mukhtar had prevailed.
A cluster of people in a sweet shop in Gujrat helped to explain why, expressing outrage with Mr Musharraf's dismissal of the chief justice last year.
"We're fed up with Musharraf and his people," said Qaisar Mahmood, the shop's 38-year-old owner, who voted PPP. "We also want to honour the memory of Benazir Bhutto."
The PML (Q) faced further humiliation in the town of Rawalpindi, where Ms Bhutto was assassinated, as Mr Sharif's candidate trounced Sheikh Rashid Ahmed, a former federal minister and close Musharraf ally.
“We have been unable to defend our government’s performance,” said a dejected Mr Rashid.
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