According to Dawn Online, the two also discussed matters of internal security and the war against terrorism.
The Dawn report claimed that alleged Indian funding for terrorism in Pakistan came up in the discussion.
The BBC in a recent report had also alleged that India had been giving funds to Karachi-based Muttahida Qaumi Movement (MQM) party to carry out subversive activities.
Pakistan has launched a formal probe into the BBC report and the top leadership is mulling whether to raise the matter in the UN over alleged Indian interference in internal matters of the country.
MQM leader Tariq Mir had reportedly confessed to the London police in an earlier interview that Hussain knew about alleged Indian funding of MQM's activities.
General Sharif also apprised the premier about progress in Operation Zarb-e-Azb against militants across Pakistan and the security situation at the eastern and western borders.