Prime Minister Shahid Khaqan Abbasi is also in attendance.
Shehbaz, who was appointed the party’s president after the disqualification of his brother Nawaz Sharif, is also the chief minister of Punjab.
Sources said Shehbaz will discuss with party representatives the present 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.
At Wednesday’s meeting, the PM had taken PML-N lawmakers into confidence over the developments after former prime minister Nawaz Sharif’s statement on the Mumbai attacks, which was played up the Indian media stirring a controversy in the country.
Moreover, the PM also issued party guidelines during the meeting to ensure the presence of PML-N MNAs when the budget will be tabled in the assembly.
During the assembly session on Friday, the finance minister could not make his budget speech as the session was adjourned due to the low number of lawmakers.
Sources also said the PM took party members into confidence over the government’s plan to table a constitutional amendment to merge the Federally Administered Tribal Areas with Khyber Pakhtunkhwa province.
Cabinet discusses FATA reforms, other issues
Earlier, the PM chaired a meeting of the federal cabinet.
Sources said that an 11-point agenda covering the country’s security and economy was discussed in the meeting.
The cabinet also approved various the country’s memorandums of understanding with other countries.
Sources said that the main agenda of the meeting was the merger of Federally Administered Tribal Areas with Khyber Pakhtunkhwa.
Interior Minister Ahsan Iqbal, who survived an attack against him recently, also attended the meeting and received a warm welcome from cabinet members.
He thanked the cabinet members for their well-wishes and prayers.
Iqbal was discharged Monday afternoon from the Services Hospital, where he was being treated after being shot at.
Iqbal underwent two operations, one aimed at removing the bullet from his lower torso and the other to mend his broken elbow bone. He had sustained a fracture after the bullet scraped his elbow and then hit his lower abdomen.
He was injured during an assassination attempt at a corner meeting in his constituency Narowal on May 6.