Bangladesh's interim leader said Thursday that he hoped new elections in the South Asian nation could take place before the end of 2008. In a televised address to the nation, Fakhruddin Ahmed said he has no intention of staying in power for a day longer than necessary. It was the first clear statement from the government on an election timeframe after President Iajuddin Ahmed declared a state of emergency on Jan. 11 to quell months of violent street protests calling for electoral reforms. President Ahmed also canceled the elections, originally slated for Jan. 22 this year, according to AP. The interim leader Ahmed, who took over a day after the state of emergency was imposed, said his administration was committed to holding a free and fair election. «Not only next elections but we're committed to establish a system so that all future elections could be held in a free and fair manner,» he said, as his government completed three months in power on Thursday. He promised a series of political reforms, including changes to the electoral laws. He said the government would show «zero tolerance» to loan defaults, fraud and other criminal activity. In recent weeks, security forces have arrested more than 160 politicians, including former ministers, in a drive against corruption. Most of the detainees belong to the country's two major political parties _ the Bangladesh Nationalist Party and Awami League. Tarique Rahman, the eldest son of the immediate past Prime Minister Khaleda Zia, now is in jail, awaiting trial in an extortion case. Last week, the Election Commission said it would take a year and a half to prepare a flawless electoral roll. Currently all political activities are banned in Bangladesh, a parliamentary democracy of 144 million people since 1991. -- SPA