The home side went to stumps on the opening day in complete control at 3-302, with Ponting unbeaten on 137 and Michael Clarke 111 not out.
Ponting has scored four double Test centuries, for a highest score of 257, and the Tasmanian is hopeful of adding another 200 during his spectacular return to form in his home state.
The captain said his first thought after being dropped on zero on Thursday was to make Pakistan pay for their terrible blunder.
"That's the little break that I've been looking for," Ponting said.
"I hit a few in the air and had a lot of luck go my way early on and when you do have those it's very important you can make the most of it.
"I've made the most of it so far and hopefully I can go on and make a few more." Ponting and Clarke's unbeaten stand of 231 broke Australia's fourth-wicket record against Pakistan, set by Greg Chappell and Graham Yallop in Faisalabad 30 years ago.
