While welcoming the government's firmed-up decision to hold off on submitting the amendment bill to the current Diet session, some voices also expressed wariness that Prime Minister Koizumi had not explicitly announced abandoning the submission.

Literal

Government [subject-が] current-Diet [to-への] amendment-bill submission [attributive-の] holding-off policy [object-を] solidified [fact-こと] [object-を] welcome [while-一方], Koizumi prime-minister [subject-が] submission abandonment [object-を] explicitly-state is-not-doing [point-点] [object-を] be-wary-of voices [also-も] rose.

Dense newspaper/political editorial prose with multiple embedded clauses and heavy nominalization. ~一方(で) 'on the one hand X, on the other Y' is a formal contrastive connector. 方針を固める 'to firm up a policy' is a standard collocation. 明言する 'to state explicitly.' 声が上がる ('voices arose') is a news cliché for 'people spoke out publicly.' Notice how the whole sentence is one long clause with two nominalized こと/点 taking を as the objects of matrix verbs 歓迎 and 警戒 — a hallmark of formal Japanese news style.