Pakistani President Pervez Musharraf began to deliver a televised speech to the nation on Monday.

"Today is a day of important decisions," said Musharraf in Urdo, Pakistan's national language. "My nine years have seen unprecedented challenges."

"I transformed each crisis into an opportunity," he said.

Musharraf said he would continue to do more for the country, but refuted some allegations against him.

"Unfortunately, some elements make false allegation. It will affect me, but you know how it damages the country," the president said.

Musharraf said it is wrong to blame him for the downfall of the economy, adding that the falling economic situation "is only six- month old".

(Xinhua News Agency August 18, 2008)