Don Greenlees, Jakarta – Indonesian President B. J. Habibie has conceded for the first time that he may have to speed up presidential elections after mobs angry over the killing of university students by security forces went on a weekend rampage of looting and burning in Jakarta.

Under instructions from the Government, police yesterday began to round up a dozen members of a political group accused of inciting the bloody student demonstrations. Among the members of the Barisan Nasional (National Front) organisation are retired generals and prominent academics.

Government advisers said those detained would be questioned over their role in orchestrating student demonstrations aimed at disrupting last week's special session of the People's Consultative Assembly (MPR), called to clear the way for mid-1999 elections. Charges may be laid over attempts to "topple the Government".

As the toll from wild student demonstrations in Jakarta's central business district on Friday night rose to 12 dead and as many as 200 wounded, Dr Habibie extended an olive branch to his opponents by signalling an earlier leadership transition and promising a dialogue with student leaders.

The concession came after the worst violence and riots in the capital since former president Suharto was ousted in May. Dozens of shops and offices were looted and burned by mobs of poor youths roaming through streets in commercial districts of central and north Jakarta on Saturday.

After emergency meetings of Cabinet ministers and armed forces commanders, Dr Habibie gave a televised address appealing for calm and warning of a harsh security crackdown to restore law and order. The armed forces and the Jakarta administration advised people to stay off the streets after 10pm.

He also backtracked on an earlier electoral timetable of mid-year elections followed by a session of the MPR six months later to choose a new president and vice-president. This scenario would have left Dr Habibie in office at least until January 1, 2000, and drag out the period of uncertainty over the country's leadership.

In an interview with CNN, he conceded: "After the elections in May or June – even one week after that – if they want to make a people's assembly ... and make a choice of the next president, they can have my chair."

Although order appeared to have returned to Jakarta yesterday, there was little traffic on the roads and a heavy military presence was evident around the city. Armoured vehicles continued to be stationed around the National Monument, close to the presidential palace.

Throughout large areas of North Jakarta, shopfronts lay smashed open and newly blackened and gutted buildings could be seen alongside those burned out in the May riots. Despite widespread damage on Saturday, no serious casualties were reported.

In bloody clashes on Friday night, security forces had fired tear gas and rubber bullets on students and bystanders near Atma Jaya Catholic University in a downtown area, only a few hundred metres from the stock exchange.

During the subsequent riots, gangs threw stones at and beat some police and troops. Jakarta residents expressed disgust at the actions of the armed forces and joined a widespread call from popular leaders, including presidential hopeful Amien Rais, for armed forces commander General Wiranto to be sacked or resign.

Hours after rioting started, tens of thousands of students and supporters descended on the MPR building to protest over the deaths and echo demands for General Wiranto's removal.

In an effort to calm the tense situation in Jakarta and other major cities where anti-government demonstrations have broken out, Dr Habibie has sought the support of religious leaders. He also meet Mr Rais, a leading opposition figure regarded as popular with students, into the early hours of yesterday morning.