Lahore, July 2 : The US is reportedly considering Benazir Bhutto as a viable replacement to President General Pervez Musharraf, a US-based newspaper has said.

According to the San Francisco Chronicle, Musharraf's power base has been greatly weakened by the suspension of Supreme Court Chief Justice Iftikhar Muhammad Chaudhry and the government's stand-off with the radical Lal Masjid over what construes an Islamic way of life.

Pakistan is now the third-highest recipient of US economic aid after Egypt and Israel and Musharraf has so far represented stability. If he is removed from power, asks the Chronicle, where does that leave the US?

Analysts say that by year's end, Musharraf could be forced to resign as military leader and share power with Bhutto or another ex-prime minister, Nawaz Sharif.

"I can see Musharraf agreeing to step down. It depends on who else could emerge," the Daily Times quoted Anita Weiss, a professor of international studies at the University of Oregon, as saying.

The US-based newspaper claims Bhutto would be an improbable replacement, but one whom Washington (and perhaps Musharraf) could live with.

Although Bhutto, 54, now lives in the United Arab Emirates, she is still admired in the West for being the first female prime minister of a Muslim country.

Bhutto would like to quash the outstanding charges of corruption against her, and she wants Musharraf to eliminate the law - aimed at her and Sharif - that makes it illegal for anyone to serve more than two terms as prime minister.

According to the newspaper, Bhutto is still a divisive figure, heralded by many as a liberal advocate of women's rights and free-market policies, but derided by others as a corrupt opportunist who selfishly wants to salvage her political reputation.