Thousands thronged to Garhi Khuda Baksh, Sindh, where the Pakistan Peoples Party founded by Bhutto in the 60s had organised an event to observe his death anniversary by recalling the leader's services to democracy in Pakistan.
Ghinwa Bhutto, the widow of Murtaza Bhutto, the slain son of Z A Bhutto, held a separate event nearby to mark the occasion, even as she accused Asif Ali Zardari and his clan of being unfaithful to the vision of the former Prime Minister.
Speaking about his grandfather, Bilawal said that Z A Bhutto gave the world the vision of a "modern Islamic nation" and he would try to fulfill this dream.
"He was not only a political leader but also a philosopher and thinker who was murdered for his support for democracy," he said.
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"He was the hope for the common man, he gathered leaders of the Muslim world and gave this nation the atomic bomb," Bilawal said.
"This country needs Bhutto once more. If Bhutto was not martyred the country would not have been in this situation," he said.
"In the name of privatisation the government is planning on selling of the nations assets," he said.
"The people of Pakistan will never sell of their assets...We won't push our nation into unemployment," Bilawal added.
Z A Bhutto was hanged to death in the Kot Lakhpat jail on April 4 in 1979 after a murder trial held in the martial law tenure of Genral Zia ul Haq.
People kept chanting slogans of "Martyrs never die" and "Long live Bhutto!" throughout the event.