Co-chairman of the PPP

Benazir Bhutto was assassinated on 27 December 2007, shortly after returning to Pakistan from exile. On 30 December 2007, Asif Ali Zardari became the co-chairman of the PPP, along with his son Bilawal Bhutto Zardari, who is currently studying at Oxford. Bilawal is intended to fully assume the post when he completes his education.

After the assassination of Benazir Bhutto, Zardari reaffirmed his lack of interest in the prime ministership.[16][17] Chairman Zardari and Mian Nawaz Sharif, leader of the PML-N, along with some smaller political parties, joined forces in an electoral coalition that won a heavy majority in the elections and unseated Musharraf's ruling Pakistan Muslim League-Q (PML-Q). After the election, he called for a government of national unity, and divided cabinet portfolios among coalition partners on proportionate basis. Asif Ali Zardari and former Pakistani Prime Minister Nawaz Sharif said on 21 February 2008 that their parties would work together in the national parliament after scoring big wins in the election. On 5 March 2008, Zardari was cleared of five corruption charges as part of a court ruling which "abolished the cases against all public office holders", including corruption and illegal use of property under NRO, the National Reconciliation Ordinance. He had another trial on the remaining charges on 14 April 2008, when he was cleared under the same NRO. On 19 April 2008, Zardari announced in a press conference in London that he and his sister, Faryal Talpur, would participate in the by-elections taking place on 3 June and that, if necessary, he would contest to become the country's next Prime Minister, even though his party voted by a 2/3 majority to announce that Yousaf Raza Gillani would be the PM for a five year term.