President Dr. Arif Alvi has promulgated an ordinance for the establishment of the China Pakistan Economic Corridor (CPEC) Authority.
The CPEC Authority ordinance has come into force on the entire country. It aimed at accelerating the pace of CPEC related activities, finding new drivers of growth, unlocking the potential of the interlinked production network and global value chains through regional and global connectivity.
The government decided to issue an ordinance as both the houses of the Parliament, the National Assembly and the Senate, were not in session.
According to the text of the ordinance, the Prime Minister will appoint the chairperson, executive directors and members of the CPEC authority for a tenure of four years. The authority will comprise 10 members.
The chief executive of the authority will be a Grade-20 government officer.
The CPEC body having the office in the federal capital will determine further cooperation between Pakistan and China in various sectors. It will also coordinate in the Joint Working Group, according to the text of the legislation.
The body will also coordinate between provinces and ministries for the CPEC projects and will take decisions with the majority of the members, the text said.
The CPEC authority will work in accordance with the memorandum of understanding signed between Pakistan and China.
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