A cabinet committee has been established to oversee the implementation of the Special Investment Facilitation Council (SIFC) recommendations, Radio Pakistan reported on Thursday.

An order has been issued to this effect.

The committee will submit decisions to the federal cabinet for approval.

Prime Minister Shehbaz Sharif will serve as chairman, while Army Chief, Provincial Chief Ministers, and the National Coordinator will attend meetings on a special invitation.

Russians discussing with SIFC wide range of trade ties

It was reported earlier that Russians are engaged with SIFC to discuss avenues of economic cooperation between Islamabad and Moscow.

The issues which are under consideration are cooperation in the banking sector, which is considered important to organize mutual settlements between Russia and Pakistan, the creation of correspondent accounts and branches of banks of the two countries on the territory of the two countries, and the connection of Pakistani banks to the Financial Messaging System of the Bank of Russia (SPFS).

PM Shehbaz has also formed another Cabinet Committee on Immigration, Overseas Employment, and Technical Vocational Education and Training.

Upcoming budget: SIFC should advocate 26pc rise in tobacco taxes: SPARC

The committee will act as a central forum for all government agencies related to overseas employment and technical training and will review policies in this regard.

It will also approve curriculum, monitoring, and evaluation frameworks for vocational training institutions and will devise plans to combat illegal immigration, human trafficking, and exploitation of skilled workers.

The committee will also develop an action plan to engage with international partners.