The two leaders, according to Pakistan Muslim League (PML-N) secretary-general Zafar Iqbal Jhagra, had a detailed exchange of views on the current political situation with particular focus on how to press for the establishment of a consensus national government to hold free, fair and transparent elections.
They shared complete unanimity that there was no question of free, fair and transparent elections with General Musharraf calling the shots.
Ms Bhutto, he added, apprised the PML leader of the back channel contacts with the President's aides in recent weeks and reiterated no deal would be made on the return of unfettered democracy and revival of the 1973 Constitution.
He quoted her telling Nawaz Sharif any decision on future course of action would be taken from the Alliance for the Restoration of Democracy platform.
Meanwhile, sources told Business Recorder during the third round of talks the two leaders exchanged views on how to respond to rulers' offer of olive branch.
They also said the two leaders also discussed ways and means to accelerate the pace of agitation. Ms Bhutto apparently convinced the PML leader that the time was still not ripe for resignations or formation of a grand alliance.
She convinced Nawaz Sharif that unless the Muttahida Majlis-i-Amal (MMA) did not quit the Balochistan government, it would not be a prudent move to form any alliance plus the alliance of religious parties.
Back home, reacting to the meeting, information minister Mohammad Ali Durrani maintained their talks had nothing to do with the politics in Pakistan.
The meeting took place on the heels of Benazir Bhutto's admission of having back channel talks with the President's aides, but insisted their differences still persist and that her party would not compromise on its principles, ie, return of unfettered democracy through elections under an independent election commission.
Among others, Makhdoom Amin Fahim, Sherry Rehman, Wajid Shamsul Hasan and Abdul Rehman were present from the PPPP side while Shahbaz Sharif, Zafar Iqbal Jhagra, Tehmina Daultana and Syed Ghous Ali Shah represented PML-N at the meeting.