Islamabad, Aug 15: Pakistan Presidency has reportedly refuted the recent reports suggesting that President Pervez Musharraf had decided to resign, especially after a deal brokered with the coalition government about providing him indemnity and security at his new residence on the outer-skirts of Islamabad.

Denying the reports, Presidential spokesman Rashid Qureshi described the reports published by the foreign media about Musharraf''s stepping down as “baseless”, reported the Dawn.

Earlier, a British daily the Financial Times had quoted an unidentified senior Pakistani government member as saying that a deal had been brokered between Musharraf and the coalition government paving the way for a safe exit for him.

It said that Musharraf was set to resign as President once the coalition government provided immunity to him.

The ruling coalition announced had on Aug. 7 that it would initiate impeachment proceedings against Musharraf on the ground that he had violated the Constitution and his policies had led to economic crisis in the country.

Over the past one week, the coalition has been preparing a "charge sheet" against Musharraf, and in case the President doesn’t resign, impeachment proceedings against the President would begin Monday. (ANI)