Pakistani President Arif Alvi on Tuesday promulgated an ordinance for the establishment of the China Pakistan Economic Corridor Authority (CPECA) to ensure the timely completion of the corridor's projects.
The ordinance is reportedly aimed at accelerating the pace of CPEC related activities, find new drivers of growth, unlock the potential of the interlinked production network and global value chains through regional and global connectivity, Radio Pakistan reported.
In August, Pakistan Prime Minister (PM) Imran Khan had announced that Islamabad was forming an authority to ensure the timely completion of the projects under CPEC.
The CPEC is a multi-billion dollar development project, with a planned network of roads, railways and energy projects linking China's Xinjiang Uyghur Autonomous Region with Pakistan's strategic Gwadar Port on the Arabian Sea.
The ordinance comes in the wake of Pak PM's three-day visit to China to discuss issues of regional and bilateral significance, including the China-Pakistan Economic Corridor (CPEC) and Kashmir.
The visit also comes ahead of Chinese President Xi Jinping's tour of Nepal and India.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)