ISLAMABAD, Dec 28: President Gen Pervez Musharraf has ruled out the possibility of war with India but said there could be some skirmishes on the Line of Control.

“I can safely say that 95 per cent chances of war do not exist... but there are just 5 per cent such chances and that too in the shape of some skirmishes on the Line of Control,” the president was quoted as having said during his luncheon meeting with members of the Economic Advisory Board on Friday.

However, official sources said, the president had told the meeting that Pakistan was alert to take on the enemy should it tried to do any misadventure whether on the LoC or on the international borders.

Gen Musharraf pointed out that the country was much better off today than in 70s when India had provided all military support for the creation of Bangladesh. “Our stock position in every respect is very satisfactory and our reserves are also gradually improving and have reached to an all time high in 53 years of the country’s history,” he was quoted as having said.

If the enemy underestimated or miscalculated, it would be a big loser, he warned.

The president said that India had raised a war temperature and was now experiencing difficulties to bring it down. He regretted that Indian leaders were sounding too arrogant and had refused to settle issues through peaceful means.

Sources said the president had also told the meeting that all necessary measures had been taken to protect every inch of land and that the country’s armed forces had been mobilized to face any eventuality.

Briefing the EBA members about the Afghan situation, the president said that Pakistan and the United States enjoyed unanimity of views on all vital issues relating to terrorism. He said the US authorities were consulting him and his government on all important issues in the region. In fact, he added, Pakistan now had a better say on various issues.

The president said that the interim chairman of Afghan government, Hamid Karzai, had expressed willingness to increase political and economic cooperation between the two countries. The deputy prime minister of Afghanistan, he said, had resented some of the anti-Pakistan statements made by some members of the Afghan cabinet.

However, sources said, the president had been assured by the Afghan government that there would be no more anti-Pakistan statements by any of his cabinet colleagues. The president was quoted as having said that not only Mr Karzai but deputy defence minister Rashid Dostum had also expressed desire to meet him (president) to remove some misunderstandings.

The president advised the EAB members, who included prominent investors, to invest in the country so that foreign investors could be encouraged to follow suit.

The president inquired the investors about any complaint they had or assistance they needed, and said his government would provide all possible support to have more and more business activities in the country.

The president told the participants that China was keen to increase its investment in Pakistan. He referred to his recent visit to China which, he said, was very successful to have increased political, economic and defence cooperation between the two countries.

Ministers for finance, commerce, communication, food and agriculture attended the meting.