Might as well be by the guy who already runs it.
Yes, Musharraf doesn't like his Supreme Court any more than the Republicans do theirs, so he has decided to get rid of the problem by tossing them over the side by coalescing his power in another "state of emergency".
And, yes, this will almost certainly be a huge problem. Musharraf can enact laws that "[ban] publication of news about terrorist bombings and material that disrespects the head of state" all he likes, it isn't going to DO anything about them. His own intelligence service is riddled with islamists, and the military he leads isn't that much better. There will still be protests, and there will still be bombings, and some of them might even be by people in his payroll.
It doesn't help that (former PM) Bhutto is going to be tearing this up on a daily basis, and that there's little he can do about it, especially with her practically sainted status following all those suicide bomber attacks.
I can understand the need for security, and I'm really skeptical that Pakistan would remain at all stable without Musharraf. I think he was right in saying in the English part of his address that "Pakistan is on the verge of destabilization, if not arrested in time." There are a LOT of extremists in the country, and they're arguably more integrated into its state than anywhere else.
But coups never last, and things tend to end up even worse than when the whole thing started.