At a crisis summit in Canberra, Mr Howard is expected to urge the states to consider emergency allocations for irrigators and speed up plans to allow cross-border trading of water under a deal the premiers agreed to two years ago.
The meeting with the premiers of NSW, Victoria, South Australia and Queensland was called after data showed flows into the basin hitting record lows.
There are now warnings the three dams underpinning the river system's southern irrigated farmlands could run dry by May.
Mr Howard yesterday would not reveal which measures would be on the table to get farmers and towns that rely on the basin through the next six months, but he made it clear he expected progress on the National Water Initiative the states agreed to in 2004.
That deal included a national system of water trading.
"I think we need to accelerate the implementation plan we already have, we need to understand the detail and the depth of the problem that we face," he said.
The prime minister is also expected to face some pressure -- for a commonwealth purchase of Cubbie Station.
The thirsty Queensland cotton farm sucks huge volumes of water out of the basin but its manager says it's not for sale.
"The property is not for sale, so there won't be any purchase of Cubbie Station," manager John Grabbe told ABC Radio.
"We're committed to our local communities out there.
"We feel proud that we're a part of those communities, we create jobs and we're not going anywhere."
However Mr Howard has ensured the meeting won't clash with the Melbourne Cup, with Victorian set to return to Melbourne in time for the big race.