Parliamentary Party will also meet in Islamabad today. "It is unacceptable that Nawaz is being termed a traitor", Geo TV quoted Prime Minister Abbasi, as saying.
The PML-N sources said that the meeting between the prime minister, Punjab chief minister and the deposed prime minister was held after the PML-N's parliamentary party and Sharif expressed displeasure that the parliamentary party did not put weight behind him "the way it should have".
According to reports, Shehbaz will discuss with party representatives the ongoing political situation of the country and the issues being faced by the party.
PM Abbasi had chaired a similar meeting of the party lawmakers yesterday.
Petitions submitted in the Lahore High Court (LHC) to register a treason case against ousted prime minister Nawaz Sharif on his controversial remarks about Mumbai attacks were rejected on Thursday.
In Wednesday's meeting, Abbasi had directed PML-N parliamentary party members to ensure their presence in the National Assembly session when the budget will be presented for approval.
Sources said that the former premier was in no mood to mend fences with the powerful state institutions - both the security establishment and the judiciary - and sounded "bitter than before" during the meeting with Abbasi and Shehbaz.
Sources said that the main agenda of the meeting was the merger of Federally Administered Tribal Areas with Khyber Pakhtunkhwa.
Interior Minister, Ahsan Iqbal is also part of the meeting.
He thanked the cabinet members for their well-wishes and prayers. He had sustained a fracture after the bullet scraped his elbow and then hit his lower abdomen.