Facing tough grilling by European lawmakers, Pakistan president Pervez Musharraf [Images] on Monday said Pakistan would welcome European Union monitors to oversee the elections in the country, which he promised will be 'fair and peaceful'.

"We are as concerned with democracy as you are. I assure you that elections will be fair and peaceful," Musharraf said while addressing the European Union Parliament.

Musharraf said he strongly believed in democratic norms and hoped that Pakistan would move towards true democracy following the general elections on February 18.

He said the EU election monitors are free to visit any part of the country to oversee polls.

The Pakistani president, now on the first leg of his four-nation European tour, assured EU lawmakers that the rule of law will prevail and the country will gain stability soon.

He also sought to ease worries about Pakistan's nuclear arsenal and said despite the political instability, the nuclear assets of his country were in safe and responsible hands.

He said the probe into former premier Benazir Bhutto's killing would be transparent. Musharraf blamed the lawyers' agitation and its effects on the writ of law for the terror attack on Benazir Bhutto [Images].

"That mayhem encouraged the terrorists and they thought that the writ of government was weak and therefore they struck," he said.

Rejecting comments about the government's involvement in Bhutto's assassination, Musharraf told the EU lawmakers it would not interfere in the joint investigation into her killing. He said the outcome of the probe would be made public.

Musharraf urged the Europeans to support Pakistan in its struggle against terrorism. "Stop criticising us. We are fighting the war on terror for ourselves, more than for anyone else," he said.

He asked the EU to help Pakistan in trade and investment, saying investing in Pakistan's economy would wean the extremists from their violent paths.

Earlier Musharraf held talks with Javier Solana, the European Union's High Representative on Foreign and Security Policy.

Musharraf said that the EU had a significant role in resolving global political disputes. Musharraf's visit is seen as part of a diplomatic effort to ward off negative impressions about Pakistan and his presidency.

Earlier on Monday, EU foreign and security policy chief Javier Solana said the level of its engagement with Pakistan will depend on whether the country holds free and fair polls.

"Elections have to be free, fair and secure. Our cooperation, our level of engagement will be in view of the result of this process," Solana said after holding talks with Musharraf.

Recently, several European think tanks and human rights groups have urged him to step down from the presidency because, they said, the current situation 'could lead to a nightmare of a nuclear-armed, Muslim country descending into civil war'.

During his eight-day long tour, Musharraf will also meet French president Nicolas Sarkozy, British prime minister Gordon Brown and other European leaders. He will also attend the World Economic Forum in Davos, Switzerland [Images].