Defending his decision to impose emergency rule, Musharraf said: "I did not violate the constitution and the law of this land.
"Whatever the cost, I bear responsibility, and I stand by it."
She was in Lahore, in the province of Punjab, in the run-up to a mass protest she has planned against the emergency rule.'Doors open'
Bhutto said the announcement alone would not defuse Pakistan's political crisis and that it would be difficult to hold elections when the country was in a state of emergency. Your Views "I am very worried and angry - Musharraf should realise that we don't need him" Avas, Islamabad, Pakistan Send us your viewsBut she said she has not shut the doors on talks with Musharraf.
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Speaking to Al Jazeera, Nawaz Sharif, a former Pakistani prime minister who is now living in exile in Saudi Arabia, said Musharraf was deliberately trying to stifle opposition to his rule.
"Any elections under martial law will not serve any purpose ... Pakistan is in the grip of great crisis," he said.
He said Musharraf "favoured questions from foreign reporters. He was clearly trying to convince the international community that the way forward is the way he is proposing".
Watch James Bay's report on the Swat Valley
Musharraf said he had to take the dramatic step of imposing emergency rule to address the "turmoil, shock and confusion" in Pakistan and to better fight Muslim fighters in the interior of the troubled northwest and in the Swat valley.
That battle, he said, would continue until the extremists are defeated.
Before he declared emergency rule, elections had been expected by mid-January, two months after the expected dissolution of the national and provincial assemblies.
Last week, Musharraf said elections would be held by February 15.