By REUTERS
Published: August 7, 2008
Filed at 8:09 a.m. ET
ISLAMABAD (Reuters) - Pakistan's ruling coalition agreed on Thursday to begin impeachment proceedings against President Pervez Musharraf, a move likely to deepen political instability in the country.
The uncertainty has taken a toll on Pakistani markets, with the main share index at its weakest in almost two years and the rupee headed back towards all-time lows posted in early July.
"Yes, we have agreed in principle to impeach him," a senior official of the coalition, led by the party of slain former prime minister Benazir Bhutto, told Reuters.
He added that the National Assembly, parliament's lower house, is expected to be called next week to begin proceedings against the president.
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