Asif Ali Zardari, the widower of former Pakistani prime minister Benazir Bhutto, has won Pakistan's presidential election, according to unofficial results tally released today.

Zardari, who had been widely expected to win, had secured 458 out of 702 electoral college votes, according to partial Election Commission results.

"It's not only a victory for Mr Zardari and the Pakistan People's Party but it's a victory for ... Benazir Bhutto's dream of a democratic political system," said a Bhutto party spokeswoman Farzana Raja as party workers chanted "long live Bhutto".

Bhutto was killed in a suicide attack on Dec. 27.

Members of the two-chamber parliament and four provincial assemblies voted for a replacement for Pervez Musharraf, who resigned last month.

Investors hope the election will bring some stability after months of political turmoil that has helped drag stocks and the rupee sharply lower.

Zardari, known as a polo-playing playboy in his younger days, will have to contend with a host of problems that have raised fears for the prospects of the nuclear-armed US ally, including militant violence and an economy in tatters.

Despite what is being touted as a landslide victory for Zardari, also brought a brutal reminder of the threats to the nuclear-armed nation's stability when a suicide car bomber killed a dozen people near the northwestern city of Peshawar.

The pickup truck packed with a large amount of explosives blew up a security checkpoint on the outskirts of Peshawar killing at least 16 people and injuring nearly 40.

Police believe the attack may have been intended for a more important target.

Nasirulmulk Bangash, a top police official, said the vehicle carried at least 330 pounds of explosives — an amount he called "unprecedented" — and was apparently en route to Peshawar, the capital of the North West Frontier Province.

The amount of explosives indicated the attack was aimed at a higher-value target than the small checkpoint, but might have been tripped up by high security on election day, Bangash said.

Zardari, 53, is close to the United States and has repeatedly stressed Pakistan's commitment to the campaign against militancy.

But he will take office as anger with the US is boiling after a bloody incursion by US ground troops into a remote village on the Afghan border on Wednesday.

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