CPEC Authority

[vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_column_text]On 18th October, 2019 President Arif Alvi promulgated ‘The CPEC Authority Ordinance 2019’, to establish an authority with ultimate power to accommodate the timely completion of China Pakistan Economic Corridor (CPEC) Projects. Despite being a long awaited decision, the incumbent Government formed China Pakistan Economic Corridor Authority (CPECA) or CPEC Authority to accelerate the pace of CPEC related activities.nnOn 26th November, 2019 Prime Minister Imran Khan appointed Lieutenant General Asim Saleem Bajwa as Chairman of CPECA for a period of four years in Management Position Scale-1. He was the former Director General of Inter-Services Public Relations (ISPR) and served from 2012-2016. Before his retirement he had also served in the capacity of Commander of Pakistan Army’s Southern Command.nnTo get expected results, autonomous powers are given to CPECA to take major decisions regarding CPEC Projects. The authority will be responsible for global connectivity, to find new drives of growth and will open the potential of the interlinked production network. It will ensure the coordination among the concerned departments to avoid unnecessary delays. The head office of the authority is established in Islamabad. The second obvious responsibility of CPEC Authority is to formulate new rules and regulations with the approval of the Prime Minister and work closely with the Ministry of Planning, Development and Reforms to speed up the delayed and ongoing projects.nnnnThe assignment of CPECA is to achieve the objectives and goals of CPEC Phase-II; where agriculture, special economic zones and the social sector will be the top most priority. Upon completion, these projects will increase foreign direct investment in Corridor’s Projects that would help to stabilize the economy of Pakistan.[/vc_column_text][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row]