Ms Benazir's conditions for a return to full democracy are about the same as everyone else's, except that the others do not want to have anything to do with Musharraf. Ever the politician, Ms Benazir has chosen pragmatism over further confrontation. Left in the lurch, the opposition has quite vehemently condemned the Musharraf-Ms Benazir meeting, how soon before some of them jump onto the bandwagon?

The prime objective of any negotiations must be the holding of free and fair elections, i.e. if such an exercise is credibly possible, given viz the awful law and order situation, the degradation of the civil administration, and the lack of credibility of the election machinery.

While the selection of a genuinely neutral and effective caretaker PM will seemingly be made by Musharraf and Ms Benazir, the opposition must be kept in the loop. Given the electoral stakes, there is no way that the PPP is going to accept anyone with pro-government leanings, and political elements allied with Musharraf will never accept a pro-PPP choice. The same goes for having a genuinely neutral chief election commissioner (CEC).

According to credible legal opinion, the president cannot keep his uniform beyond Nov 15. Qazi Hussain Ahmed is making a pre-emptive strike in the form of a legal challenge in the Supreme Court (SC) to the president's uniform, a monkey wrench in the unfolding political process.

The president's camp has been holding out for presidential elections by the present assemblies while Musharraf is still in uniform. Astute enough to realize that this is politically a non-starter, one would be really surprised if Ms Benazir accepts it.

With the Chairman of the JCSC, and the VCOAS retiring in the early part of October, the president could well appoint a full time COAS and shed his uniform to fulfill the PPP conditions. After mid-December it is difficult logistically to hold general elections in many of the northern areas of Pakistan.

It is more likely that a full-time COAS will be appointed by mid-September so that a Musharraf in civvies can stand for elections by the present assemblies. Thereafter, the assemblies will be dissolved for elections between mid-November and mid- December.

The expected turmoil within PML (Q) and PPP ranks in negotiating with Ms Benazir and Musharraf respectively was to be expected. Many within the PML (Q) have a genuine grievance with free and fair elections, they can never get elected. To retain their seats, they need manipulation before elections, as well as rigging during the election process itself.

They should quietly fade out into the night, hoping against hope that they would not be held accountable for their many misdeeds. On the other hand, many within the PML(Q) can (and will) get elected on their individual strengths, whichever political party they choose to be associated with.

Speculation is also rife that the PPP faithful are not happy with their leader negotiating with Musharraf. For nearly eight years, most genuine representatives of the people had been left out in the cold, while the fake ones enjoyed themselves on the gravy train that comes with incumbency.

Except for a few die-hard idealists that the PPP has always had (and historically always sidelined), the majority of PPP workers are ecstatic about getting back into power. Free and fair elections may not give them outright majority, but PPP will have seats in all the provinces, crucial for the Federation, particularly now.

As things stand today, PPP will have an outright majority in Sindh, with MQM coming in second. In Punjab, PPP will have the maximum seats, with both PML (Q) and PML (N) close behind, and in that order. In the NWFP, MMA will lose ground in the plains but will still hold the mountains, having the most seats but nowhere near an outright majority.

ANP, PML(Q) and PPP will almost equally share the seats. PPP could lead/support a coalition govt. in NWFP. The present mixed-bag composition will hardly change In Balochistan. PPP will choose PML(Q) as a partner for coalition in the centre because of their pact with Musharraf.

Without an outright majority in the Punjab, the quid-pro-quo could be (maybe) a PML(Q)-led coalition government. PPP will form the government in Sindh, with or without the MQM. Maulana Fazlur Rahman's JUI(F) may well bolt from the MMA to become part of the government in both Balochistan and the NWFP.

Nawaz Sharif remains popular enough in the Punjab to win a significant number of seats, but not enough to be a major factor in government making. Except for candidates winning seats on their own, the PML(N) has no significance politically in Sindh, but could provide a handful of seats in NWFP and Balochistan for a coalition.

Despite the temptation in both the Musharraf and Benazir camps to sideline Mian Nawaz Sharif (and others) as irrelevant in the present political process, as the mistress of the game she should reach out and bring Nawaz Sharif in from the cold.

The electoral process will have credibility only if all the major political parties take part with confidence in its neutrality and transparency. Musharraf and Ms Benazir have a historic opportunity to ensure the advent of genuine democracy in Pakistan, a graceful exit for the military regime, and a pragmatic power-sharing arrangement.

To quote my article "Idealism versus Pragmatism" of Oct 5, 2002: "In matters of state, objective idealism always gives way to rank pragmatism. Gen Pervez Musharraf articulated his seven-point agenda within days of taking power, the vision was that of an idealist. In preparing the nation for real democracy, his solution is that of a pragmatist. Between the idealism the president embodies and the pragmatism he has adopted, the fault line is blurred by the doctrine of necessity. In the hard world of realities, and given the adverse circumstances, pragmatism is perhaps the only course that any leader of a beleaguered nation such as ours could have adopted, not only for the sake of the nation but, being inexorably linked with the reforms he has enacted, for his own continuity." What has changed 5 years later, except the state of the federation?

In the cold light of day, the individual agendas of both Musharraf and Benazir surpass the national interest. Musharraf wants to retain the presidency at all cost to do that he compromised his potent legacy, the accountability process, five years ago. Now he has to drop all corruption charges against Ms Benazir (and her spouse?). That is Ms Benazir's supreme interest, fortunately it coincides with the national interest.

In a twilight zone as a nation, a dynamic political process is required to combat the menace of militancy proliferating nationwide into homegrown terrorism. To break out of this limbo in the twilight zone, pragmatism dictates that compromises be made. For the sake of a beleaguered nation and its shell-shocked people, let's do it sooner rather than later.

Ikram Sehgal is an eminent Pakistani political analyst and columnist.