In this regard, Pakistan Peoples Party (PPP) Co-Chairman Asif Ali Zardari held consultative meetings with senior Pakistan Muslim League-Nawaz (PML-N) leaders.
With former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan threatening to dissolve the provincial assembly, the PML-N and PPP have started consultations on options to thwart the plan.
Deeming the next couple of days critical, they have been mulling whether to intiate a confidence motion or a no-confidence motion against Punjab Chief Minister Chaudhry Pervaiz Elahi.
Further, they have been mulling on a plan to impose governor rule and mitigating the complications which arrive out of it.
On Wednesday, the PML-N and PPP continued their consultations both, at the provincial level and in the center.
PPP Co-Chairman Zardari met with PML-N leaders including Federal Interior Minister Rana Sanaullah, Federal Minister for Economic Affairs and Political Affairs Ayaz Sadiq, Federal Aviation and Railway Minister Khawaja Saad Rafique.
They held a long meeting to discuss various aspects of the evolving situation and how to counter it.
After the meeting, Zardari sought a meeting with National Assembly Speaker Raja Pervez Ashraf and discussed the emerging situation in Punjab and the resignations pending in the National Assembly.
Fawad gives date for Punjab elections
Meanwhile, PTI Leader Fawad Chaudhry has claimed that fresh elections in Punjab are likely to be held before March 20, suggesting that the assemblies could be dissolved early next year.
He added that the PTI and the Punjab government is prepared to tackle any move undertaken by the opposition parties.