"President Zardari said categorically that he will give up those powers as per the wishes of his party and the parliament," the presidential spokesman, Farhatullah Babar said.
Zardari reportedly said that he would abide by his promise to appoint provincial governors and impose governor's rule in the provinces.
Recently, an all party committee agreed to amend the constitution to strengthen the democratic set-up of the country, which according to it, has been badly affected by successive military regimes.
However, western diplomats believe that it might not be possible for Zardari to cede much of his powers. They feel it would be 'uncomfortable' for Zardari to forego his authority.
The diplomats argued that the process may be laborious and be waylaid by internal disagreements among committee members, The Telegraph reports.
The Pakistan Muslim League -Nawaz (PML-N), the main opposition party, said that its prime motive is to remove the imbalance between the President and the Prime Minister.
"Our party will focus purely at first on removing the imbalance of the powers between the president and the elected prime minister," said PML-N's 'amendment committee' member, Ishaq Dar.
But, as it transpires, the PML-N is actually pushing for removing a clause introduced by the former President General Pervez Musharraf, which prevents party chief, Nawaz Sharif to return to power for a third term. (ANI)