Pakistani President Pervez Musharraf says he has no plans to resign, despite a sweeping victory by the opposition in the country's parliamentary elections.

Mr Musharraf told the Wall Street Journal there was a need to move forward to help bring about a stable democratic government in Pakistan.

US President George Bush called the vote a victory for Pakistani democracy.

Meanwhile the party of late former PM Benazir Bhutto says it is ready to form a coalition with Nawaz Sharif's PML-N.

A union of Ms Bhutto's Pakistan People's Party (PPP) with the PML-N would have more than half parliament's seats.

The main party backing President Musharraf suffered a heavy defeat.

The president's position has never looked more precarious, the BBC's Chris Morris in Islamabad says.

If a new governing coalition manages to muster a two-thirds majority in parliament, it could call for Mr Musharraf to be impeached.

But Mr Musharraf said that he would try to work with any new government.

"I would like to function with any party and any coalition because that is in the interest of Pakistan," he told the Wall Street Journal.

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