Timer 2 Of C167 microntroller!!

Hello to all group members,
I am currently working on my M.Sc thesis, i.e. to design and test of sensors and actuators of a mobile robot. I have interfaced these
sensors to Infinion's C167-LM (16-bit) microcontroller. I want to use Port3.7 as an output, but this port also has an alternate function (Timer 2 Count Input). In my application, T2 is used to count the time between up Interrupt to down Interrupt of encoder pulses, and then calcultaes the velocity of the robot. My question is, if i use P3.7 as an output pin, will it effect the fuctionality of Timer T2 in above mentioned application.
Note: The ecoders are not connected to Port3.7 but to Port2 of C167 and fast external Interrupts are generated for each rising positive edge.
Your prompt reply will be highly appreciated.
Thanks in advance!!
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