Sources said that the decision came apparently after government figures in Pakistan announced that the former dictator would be arrested from airport upon his arrival.
They said that the former dictator faced a setback after his old comrade Fawwad Chaudhry resigned from his small political party the All Pakistan Muslim League (APML).
The sources said that Musharraf decided to postpone his decision after consultation with his close friends.
Musharraf in his telephonic speech had said that he would return Pakistan between 27 to 30 January and was ready to face cases registered against him.
Sindh Home Minister had also said that Musharraf would be arrested from the airport if he landed at the Jinnah International Airport Karachi and would be detained in his favourite prison Landhi Jail.