"We will inform the political parties about the situation in Sindh where our 13 offices were burnt. We will inform them about the ground realities and then we will fix a date in consultation with them," Dilshad said.
Analysts expect the vote to be postponed to late February but also say a delay could lead to violence.
The pro-Musharraf Pakistan Muslim League has said it favours a delay because of the security situation. Opponents say a delay would work to the advantage of the pro-Musharraf party.
Hundreds of Bhutto supporters protested peacefully chanting "Bhutto is great" and shouting slogans against Musharraf on Tuesday in the town of Larkana near Bhutto's family home, where mourning storekeepers kept their shops shut.
Police arrested 50 people in Sindh in connection with arson and vandalism in the wake of Bhutto's assassination, but the streets were calm. There was no repeat of the scenes of violence and vehicle and shop burning and no more of the killings that followed her death.
Pakistan is gripped by fears of capital flight if security worsens. Pakistan share prices were down three percent on Tuesday.
DATE CERTAIN
The U.S. State Department said there should not be an indefinite delay.
"The key here is that there be a date certain for elections in Pakistan. We would certainly have concerns about some sort of indefinite postponement," spokesman Tom Casey said on Monday.
Bhutto, relatively liberal by Pakistan's standards and an opponent of Islamic militancy, ended her self-imposed exile in October. Hours after arriving home she narrowly escaped a suicide blast that struck her motorcade, killing about 140 people.
Her death wrecked U.S. hopes of a power-sharing deal between her and Musharraf, who took power in a military coup in 1999 but left the army in November to become a civilian president.
The PPP has suggested Musharraf's government is trying to cover up the truth about Bhutto's killing and bears at least some of the responsibility.
The government has blamed an al Qaeda-linked militant based on the Afghan border, Baitullah Mehsud, for the attack but many Pakistanis believe Bhutto's old enemies, perhaps from within the powerful security agencies, were involved.
Musharraf is due to address the nation on Wednesday evening.
