Police maintained a strong security presence at her residence in Islamabad, complete with barbed wire and concrete barriers, despite saying she was no longer under house arrest.
Pakistan's slide into political uncertainty has accelerated over the past week when Musharraf declared his country under emergency rule.
Thousands of his opponents have been arrested.
"The government has been paralysed," Bhutto shouted to supporters across a barbed-wire barricade on Friday as police used batons and tear gas to break up small protests in several parts of the country.
"If he [Musharraf] restores the constitution, takes off his uniform, gives up the office of the chief of army staff and announces an election by January 15, then it's OK," she said.
Meanwhile, Pakistan's government on Saturday ordered three journalists from Britain's Daily Telegraph newspaper to leave the country because of its "foul and abusive language" against Musharraf.
Musharraf has cracked down on both domestic and foreign media since the imposition of the state of emergency.
Musharraf has said elections will be held by February 15, about a month later than they were due.
He also said he would quit as army chief and be sworn in as a civilian president once new judges appointed to the supreme court struck down challenges against his re-election.
Bhutto has been holding power-sharing talks with Musharraf for months and political analysts say co-operation between the pair - which the US was earlier said to have been encouraging - is still possible.