Zardari also said the proposed bill, which would require a two-third majority in the parliament for approval, would be presented to the parliament as soon as possible.
Under the proposed bill the president’s powers to appoint the chiefs of the army, navy and air force would be transferred to the prime minister and parliament would appoint the chief election commissioner.
Pakistan‘s deposed chief justice has meanwhile urged lawyers to press on with their campaign to restore judges ousted by Musharraf.
Musharraf declared emergency rule in November and ousted dozens of judges to avoid legal challenges to his rule.
Iftikhar Mohammed Chaudhry, the deposed top judge, told thousands of lawyers in Faisalabad on Sunday that the Supreme Court had passed an order restricting the president’s actions on November 3, the same day the emergency was declared.
Chaudhry said those who violated the order would be “punished”.
Pakistan‘s new government has been bogged down in differences over how to bring back the judges, prompting the lawyers’ movement to plan a new round of protests in June.