This study deals with the axisymmetric stability of the interface between two incompressible Selfgravitating non-conducting fluids in the presence of an electric field. The pressure in the unperturbed state is not constant because the Selfgravitating force is a long-range force. The dispersion relation is derived and discussed. Some previous reported works may be obtained as limiting cases from the presented work with appropriate choices. The study under consideration has strong correlation with instabilities of sun spots and other physical phenomena.