Cabinet body likely to recommend establishment of CPEC Authority

ISLAMABAD: The Cabinet Committee on China-Pakistan Economic Corridor (CPEC) in its meeting on Monday (today) likely to recommend setting up the CPEC Authority, ARY News reported.

The Cabinet body while deliberating on its four-point agenda is likely to recommend establishment of the CPEC Authority to the federal cabinet for its approval, sources said.

The Cabinet Committee on CPEC will review the progress on CPEC projects, establishment of CPEC authority, briefing on development agreement of Rashakai Special Economic Zone (SEZ) and preparation for the upcoming Joint Cooperation Committee of CPEC meeting.

The JCC meeting is scheduled to be held in October this year in Pakistan.

The Cabinet Committee on CPEC is chaired by Minister of Planning, Development and Reforms and comprises of federal ministers for foreign Affairs, Communication, Interior, Law and Justice, Maritime Affairs, Petroleum and Railways as its members.

According to earlier media reports, the government was all set to establish an autonomous authority for the China-Pakistan Economic Corridor (CPEC) prior to the next Joint Coordination Committee (JCC) meeting in October.

CPEC is a collection of projects that are currently under construction intended to rapidly modernize infrastructure in Pakistan and strengthen its economy with modern transportation networks, numerous energy projects, and special economic zones.