Ishaq said Musharraf was very emotional on returning home after a long time in exile and was insistent on also going to the mausoleum to offer prayers.
“He was very emotional and happy but a lot of questions remain on his future plans given the high security threats to his life,” another party member said.
He is expected to stay in Karachi for two days before going to Islamabad where he ruled the country as chief executive and then President from 1999 to 2008.
IANS adds: A plane carrying Musharraf, leaders of his party and media persons from Dubai landed soon after noon at the port city of Karachi where supporters accorded him a warm welcome.
Musharraf had been living in exile in Britain and the United Arab Emirates since he resigned from his post in August 2008.
An anti-terrorism court had issued arrest warrant in 2011 for Musharraf in connection with the murder of former prime minister Benazir Bhutto.
In October, a court also issued a warrant for his arrest over the killing of Baloch nationalist leader Akbar Bugti in a military operation in August 2006.