ISLAMABAD (Agencies) - Pakistan Muslim League-N (PML-N) Friday decided not to rejoin the Pakistan People's Party-led coalition, a party leader said. The meeting, chaired by the party's Quaid Nawaz Sharif, discussed the overall political situation in the country with special reference to the presidential elections. The meeting also decided that the PML-N would not withdraw its presidential candidate, PML-N chairman Raja Zafarul Haq said. He said it was decided that PML-N would continue consultations with other political parties with a view to mustering more support for its presidential candidate, Saeed-uz-Zaman Siddiqui, a former Chief Justice. Raja Zafar-ul-Haq, who was talking to mediamen outside the Punjab House after the meeting, hoped that an "important political development is expected within next 24 hours." He said that there is no chance now that the PML-N would rejoin the coalition government. "The meeting has decided not to rejoin the coalition," he added. Zafarul Haq said talks were underway with the PML (Q) and this process would continue up to the presidential election. To a question, Zafar-ul-Haq ruled out any change in the Punjab Government and said PML-N would continue to run the affairs in the province. He said on moral grounds the PPP should pull out from the Punjab Government after the exit of PML-N from the federal ruling coalition. Answering a question, PML-N chairman said Asif Ali Zardari had phoned Nawaz Sharif on Thursday but he denied report that he had talked to the PPP leader twice. A senior PML-N leader Khawaja Asif said there was no question of the party re-entering the coalition. After five months in the ruling coalition "we have realised that alliance with the PPP is not possible," Asif said. Meanwhile, Acting Chairman Senate, Jan Muhammad Jamali visited the Punjab House and met Nawaz Sharif. During the meeting, both sides discussed the current situation in the country, PML-N sources said. Jan Jamali has intensified his efforts for reconciliation between PML-Q and PML-N. He met with PML-N Quaid Mian Muhammad Nawaz Sharif and Punjab Chief Minister Mian Shahbaz Sharif in Punjab House on Friday and discussed matters relating to reconciliation between the two groups. It was the third meeting of Jan Muhammad Jamali with Nawaz Sharif who is trying to strike a deal with PML-N chief. Sources said Jan Muhammad Jamali suggested that PML-Q will support Mian Shahbaz Sharif in the Punjab if PML-N forgoes the slot of Opposition Leader in the National Assembly. However no final answer was given to Jan Jamali by PML-N leadership. Sources further disclosed that PML-N leadership discussed with Acting Chairman Senate regarding PML-Q support from Balochistan Assembly in favour of Justice (r) Saeed-uz-Zaman Saddiqui. Jan Jamali also met with Chaudhry Shujaat Hussain and Mushahid Hussain Syed and took them into confidence.