Separately, the Supreme Court of Pakistan adjourned a treason case against Musharraf in Islamabad, Dawn News reported.
The anti-terrorism court in Rawalpindi set Musharraf's bail after earlier having delayed making a decision following arguments by prosecutors with the Federal Investigation Agency that Musharraf might flee the country if freed.
In the Bhutto case, Musharraf is accused of failing to provide adequate protection to the former two-term prime minister who had returned to Pakistan after nine years in exile.
The New York Times reported despite bail being set at $20,000, the former military leader remained under house arrest at his luxury villa outside Islamabad because of the other charges against him.
The Supreme Court adjoined the treason case until Wednesday to allow comments from members of Parliament. The court added that because it is a treason case, the federal interior secretary must be a complainant.