ANALYSTS' VIEW-Pakistan delays election after Bhutto murder

KARACHI, Jan 2 (Reuters) - Pakistan's Election Commission on Wednesday postponed a general election by six weeks to Feb. 18 in the wake of violent turmoil triggered by the assassination of opposition leader Benazir Bhutto.

Following are reactions from political and market analysts:

FARZANA RAJA, SPOKESWOMAN FOR BHUTTO'S PAKISTAN PEOPLE'S PARTY.

"Whatever reasons they give are such lame-duck excuses because the electoral papers and lists were burnt in the districts, but they have those lists in the central office.

"We reject their baseless excuses. We're ready to fight the election. It was all done on the request of Musharraf's party because they can see defeat in the elections."

SHARIF'S SPOKESMAN NADIR CHAUDHRI

"We've already said that we want to contest straight away on the 8th, and so does the People's Party, so it is a disappointment. We feel that the elections should have been held on the 8th. We're going to decide our future course of action now at a meeting."

TARIQ AZIM KHAN, SENIOR OFFICIAL OF PRO-MUSHARRAF PAKISTAN MUSLIM LEAGUE

"It's realistic and understandable, a short delay, keeping in mind the ground realities. There may be some (sympathy vote), but it's wrong to prejudge what the voters will do. Sympathies don't die down in a few days. It can't be much of a leader if the sympathy is forgotten in just a few days."

NAJAM SETHI, EDITOR, DAILY TIMES

Sethi said Bhutto's Pakistan People's Party (PPP) was likely to complain about the election delay but ultimately will take part in the polls on Feb. 18.

"The stakes are too high. The PPP is not going to pitch itself into a confrontation with the state at this stage."

He questioned whether Asif Ali Zardari, Bhutto's widower and new de facto leader of the party, could control events if party supporters took to the streets again. Zardari and other PPP leaders would risk being arrested, leaving the party in disarray.

"From what we have seen in Sindh, it certainly seems to suggest that the troops would be called out (next time), and that could lead to the arrest of Mr Zardari and the entire PPP leadership and a crackdown, and that could mean there are no elections at all ... She (Bhutto) had the power to bring people out and then take them back. Mr Zardari may not have that power."

ASIF QURESHI, HEAD OF RESEARCH, INVISOR SECURITIES

"The market reaction will be linked to the response of the PPP and the PML (N). If they accept the decision after some initial opposition, then it should be fine, but if they don't, then that could mean trouble."

AHSAN MEHANTI, CHIEF EXECUTIVE, SHEHZAD CHAMDIA SECURITIES

"The market was expecting a delay and has already discounted the news, the issue now is what reaction the political parties will have and how that might affect the market."

MOHAMMED SOHAIL, DIRECTOR OF EQUITY BROKING AND RESEARCH, JS GLOBAL CAPITAL LTD.

"One element of the political uncertainty is over as we have a set date now for the election. However, we have to wait and see the other parties' reaction, especially the PPP and what President Musharraf will say in his address." (Reporting by Sahar Ahmed, Mark Bendeich, Faisal Aziz and Simon Gardner; Editing by Bill Tarrant)