Bissau, Feb 2 : Several automatic weapons shots were reported near the Palace of the Government of Guinea-Bissau where an extraordinary meeting of the Council of Ministers was being held. The incident took place on Tuesday afternoon, when the president, Umaro Sissoco Embalo, and the Prime Minister, Nuno Gomes Nabiam, were inside the building, Xinhua news agency reported. The situation is completely under the control of loyalist forces. President Embalo and Prime Mnister Nabiam are safe, according to a security source. There were reports of unidentified dead inside the government palace. Around 1 p.m. local time, the crackling of automatic weapons triggered panic among the population. So far, there is no news from the government palace, and no one has come out of this place. At the moment, there are constant movements of patrols of armed soldiers in military vehicles in the streets of the capital Bissau. Since the news spread in the capital, in the city centre, all the shops, restaurants and banks have closed. Officials and students have gone home. The Economic Community of West African States (ECOWAS), issued a statement on Tuesday evening, saying the regional bloc is following developments in Guinea-Bissau with great concern characterized by military fire around the Palace of the Government. ECOWAS condemns this coup attempt and holds the military responsible for the physical integrity of Umaro Sissoco Embalo and the members of his government, it said. ECOWAS calls on the military to return to their barracks and maintain a republican posture, it added. /IANS