The federal government has been granted the authority to negotiate agreements directly with other nations, reported 24NewsHD TV channel Thursday.

This move comes after the formation of the Cabinet Committee on Inter-Government Commercial Transactions, with clearly defined Terms of Reference (TORs). The Federal Cabinet's approval has led to the issuance of an official notification by the Cabinet Division.

The newly established Inter-Governmental Commercial Transactions Committee will be chaired by Defense Minister Kh Asif. Its mandate includes the negotiation of government-to-government (G2G) agreements, a crucial step in enhancing the nation's international commercial engagements.

The committee's TORs empower it to form negotiating teams as needed and to make decisions vital for the swift execution of commercial transactions. This streamlined process is designed to facilitate prompt and effective action in the realm of international trade and agreements.

The committee's composition is inclusive, featuring key ministers such as the Finance Minister, the Privatization Minister, and ministers overseeing Privatization, Petroleum, and Economic Affairs. However, the Cabinet Committee's decisions are subject to the final approval of the Federal Cabinet, ensuring a cohesive and unified approach to international negotiations.