President Dr. Arif Alvi has promulgated an Ordinance for establishment of the China Pakistan Economic Corridor Authority.
It aimed at accelerating the pace of CPEC related activities, find new drivers of growth, unlock the potential of interlinked production network and global value chains through regional and global connectivity.
In August, Prime Minister Imran Khan announced that the government was forming CPECA to ensure the timely completion of the corridor's projects. He had said that CPECA would help ensure coordination among the departments concerned.
"The completion of CPEC will not only benefit Pakistan and China, but also the entire region," the premier had said, adding that the timely completion of CPEC projects was the top-most priority of the government and CPEC is a clear example of joint efforts and partnership between Pakistan and China.
The president's promulgation of the ordinance for establishing CPECA coincides with Prime Minister Imran's visit to Beijing which will include talks on the progress of CPEC.