'A Double-Edged Sword'; Pakistan's banished prime minister on talks with Musharraf that could pave her way back to power.(Benazir Bhutto)(Interview)

Byline: Ron Moreau

Benazir Bhutto, the exiled, two-time Pakistani prime minister, is now negotiating a political comeback with President Pervez Musharraf. Last week they reportedly met face to face in Abu Dhabi after months of back-channel talks. The two need each other. Bhutto wants to return to Pakistan to run in next year's elections--without having to face the corruption charges that drove her into exile. She also needs a repeal of the two-term limit for elected prime ministers. Musharraf, meanwhile, is grasping at straws: last month the Supreme Court overturned his suspension of the chief justice; his approval rating is an anemic 34 percent, and Islamic militants have launched a spate of attacks against his security forces, including two suicide bombings in Islamabad. He thus needs the support of Bhutto and her Pakistan People's Party--arguably the most popular political force in the country--if he hopes to be re-elected president. From her London home, Bhutto, 54, discussed Pakistan's political melodrama in a telephone interview with NEWSWEEK's Ron Moreau. Excerpts:

MOREAU: Did you meet with President Musharraf last week in Abu Dhabi?

BHUTTO: I know there's been widespread speculation, but both the presidency and the PPP have not officially said any meeting took place. Both sides have confirmed that there are negotiations going on. Why such secrecy in the talks?

There's confidentiality about the level of the contacts and how they are taking place, but there's total transparency on the fact that talks are ongoing. We've been searching for a way to facilitate the transfer to democracy. We feel that fair elections are very important for Pakistan and that any attempt to rig the elections would create chaos in the country.

Did you strike any agreement with Musharraf?

We have covered some points, but there are others still to cover. These include steps that can be taken to ensure that the coming elections are fair and open to all political parties and leaders; lifting the ban on a twice-elected prime minister seeking office a third time; a balance of power between the president and the prime minister, and a level playing field for all political parties.