Several private channels are saying Musharraf is going to declare a state of emergency. The government is denying.

Private Pakistani television channels reported on Wednesday that President Pervez Musharraf was preparing to declare a state of emergency imminently, but government spokesmen denied there were any such plans.

State-run Pakistan Television quoted official sources as saying the reports were baseless and Information Minister Mohammad Ali Durrani denied to Reuters that a meeting had been held to discuss the imposition of an emergency, as rumors swept the country.

A member of the inner circle of the Pakistani leadership told Reuters, however, that U.S. ally Musharraf was considering the option, which could allow him to extend the tenure of the national and provincial assemblies by 12 months and delay elections due by the turn of the year.

The government could explain such a step by citing growing insecurity because of the threat posed by Islamist militants allied to the Taliban and al Qaeda after a series of attacks, many of them by suicide bombers, in the past month.

And, yet, Obama thinks it’d be a good idea to further destabilize Musharraf’s government.