The PPP also named Benazir Bhutto's widowed husband, Asif Zardari, as the executor of its day-to-day affairs.
This means that the elder Zardari is expected to run the party until his son completes his university studies at Oxford.
Bilawal, a history student at te British university, has two younger sisters.
"The party's long struggle for democracy will continue with renewed vigor," he said, in a light British-accented English.
"My mother always said democracy is the best revenge."
Benazir. a former Prime Minister of Pakistan, was assassinated on Thursday as she was waving to the crowd during a rally in Rawalpindi.
Meanwhile, Pakistani officials say the country's parliamentary elections will most likely be delayed by several weeks.
A senior government official and an official from Pakistan's Election Commission said Monday there will most likely be a delay of at least four weeks following unrest that swept the country following Bhutto's assassination.
A final decision on the matter will be made during a meeting of the Election Commission Tuesday.Frankly, what can Bilawal's ascension to the throne do to make things better for the party and for Pakistan?
Well, I suppose that's the way the cookie crumbles in Pakistan.
Good luck, Pakistan.
And a Happy, Better and Peaceful New Year!