The deliberations took place in a meeting chaired by Law Minister Farogh Naseem, which was attended by Special Assistant to the Prime Minister on Accountability Shahzad Akbar, Sharif's personal physician Adnan Khan, PML-N leader Ataullah Tarar and Health Secretary Momin Agha.
Head of the medical board which was examining Sharif at Services Institute of Medical Sciences (SIMS), Mahmood Ayaz, has also appeared before the committee.
According to reports, Agha submitted three medical reports, one of which clearly stated that the ailing Pakistan Muslim League-Nawaz (PML-N) supremo needed to be shifted abroad for medical treatment.
The National Accountability Bureau (NAB) prosecutor, who had been summoned to present the anti-corruption watchdog's stance on the matter, told the committee that the body had no objection to Sharif being sent abroad for medical treatment on humanitarian grounds.
The sub-committee will forward its recommendations to the cabinet, which will decide whether the former leader's name should be taken off the ECL.
The cabinet meeting will be held later Tuesday.
On November 8, Sharif was allowed in principle to travel abroad for seeking medical treatment, according to a decision taken by Prime Minister Imran Khan.
But the government on November 9 delayed the removal of Sharif's name from the no-fly list, thus forcing a change in his plan to leave for London for treatment the next day, reports Dawn news.
Both the NAB and the Ministry of Interior couldn't arrive at a decision regarding the removal of the PML-N supremo's name from the ECL.
Last week, the former premier was shifted to an intensive care unit (ICU) set up at his Jati Umra residence from the Services Institute of Medical Sciences (SIMS), where he was admitted on October 22 after his personal physician raised an alarm about his deteriorating health.
During the course of treatment at the Services Hospital, the former premier had suffered an angina attack, besides complaints of bleeding from gums and some other parts, because of his fluctuating platelets.
The Islamabad High Court had on October 29 granted bail to Sharif for eight weeks, suspending his seven-year sentence in the Al-Azizia Steel Mills corruption reference on medical grounds.
The previous day, he had also secured bail in the Chaudhry Sugar Mills case from the Lahore High Court on the same ground.
( With inputs from IANS )