Guardian columnist, and our blog-pal, Ali Eteraz has some good analysis on the Pakistan elections.
it looks like Musharraf’s Party (PML-Q) is losing. Will PPP and PML-N strike a deal? If they get 2/3rd of Parliament they are going to impeach Musharraf. Apparently, Asif Zardari and Nawaz Sharif had lunch and Zardari asked Sharif: “Do you want power?” and Sharif said: “Do you?” Typical. Anyway, Zardari alleges that he said that he wants Musharraf out and an independent judiciary.Back in December, Ali was saying that the Islamist electoral threat just wasn't as big as the playstation-paranoids of the Right here in the US wanted it to be.
...I think the real story of these elections is the Islamist loss (which by the way I said would occur if you look at a couple of posts a few weeks back). There’s definitely been a lot of rigging and a lot of women stayed at home, especially in the NWFP for fear of violence. However, it seems as if the terrorists succeeded in subduing the hardline voters more than any one else. The other interesting thing is that in the NWFP, traditionally the hot-bed of Islamism — this is the place where they previously tried to pass a public morality (hisba) law — the secular ANP Party dominated.
Ali also has some background information here.
All worth a read.
Update The Times Of London says that Musharraf's supporters, the PML-Q, have conceded defeat and said they are happy to sit on the opposition benches.