ISLAMABAD, October 8: President Arif Alvi on Tuesday promulgated an ordinance for the establishment of a 10-member China Pakistan Economic Corridor (CPEC) Authority that has been tasked for expediting the delayed CPEC projects.
The authority will find new drivers of economic growth, and unlock the potential of interlinked production network and global value chains through regional and global connectivity.
Yesterday, the government forwarded a draft to the president for approval as the decision was taken in rush since no sessions of the National Assembly (NA) and the Senate were being held.
Sources familiar with the matter told the media that the ordinance will be applicable across Pakistan and the office of the authority will be established in Islamabad.
Prime Minister Imran Khan will appoint the chairperson, executive directors and members of the authority for a period of four years. The chief executive of the authority will be a government officer of Grade-20.
According to the draft, the authority will determine ways to enhance cooperation between Pakistan and China in diverse sectors
Authority will play an active role for effective communication between the Joint Cooperation Committee and the Joint Working Group, and enhance coordination between provinces and ministries.
Furthermore, any decision regarding the projects will be taken by approval of majority of the members and none of the beneficiaries of the CPEC projects will be a member of the authority.
Importantly, the CPEC Authority will operate in accordance with the Memorandum of Understanding (MoU) between Pakistan and China. – DNA
