Pak Govt has given its nod to abolish the China-Pakistan Economics corridor Authority . The Pakistan planning & development ministry is slated to play a key role in dealing with matters . Move aims to fast -track implementation of the ambitious multi-Billions dollars project .
As per the express tribune Pak PM Shehbaz Sharif’s decision is subjectbto consent by China . The decision was made on the basis of Pak planning and development ministry report . It had moved to wrap up the body that had remained controversial since its inception .
$16 BN CPEC Project ; Launched in 2015 .Connects Gwader Port in Balochistan with Xinjiang . It is flagship project of China Ambitious multi- Billion-Dollar belt and road initiative .
As per PTI Sharif govt was of the view that Authority was redundant organisation with a huge waste of resources which has thwarted speedy implementation of the CPEC.
Pak “Frustrated’’ with CPEC Authority
“ This is in the interest of CPEC that the authority should be dissloved to ensure fast implementation ofits project. CPEC authority had become an obstruction in the fast implementation of the projects because of the breakdown of the decision -making chain.
Pakistan’s planning and development ministry would now play a facilitator role. Pak government would restore the old instituutional arrangement that helped the swift implementation of CPEC projects between 2014 to 2018.
CPEC secretarity would be arrvived in the planning and development ministry .
Meanwhile China put up a brave faace defending its ambitious $147 Billion BRI .It played down reports highlighting that Xi Jinping’s pet project was losing steam with many recipient coountries like Pakistan and Sri Lanka failing to repay loan .
China Defends BRI &CPEC Projects .
Chima has signed BRI Documents with 149 countries and 32 International Organisatin & we have an investment volume of over $147 Billion .
These projects have beenwell implemented . China-Europe railway is operating smoothly . In the first half of this year China trade with countries along the route reached USD9.3 Billion.
I would like to stress that CPEC is an important pilot programme under BRI. It focuses on the development and peple livelihood .It has brought tangible benefits for socio-ecomo,ic development of people lives.(Wang Wenbin Chinese Foreign Ministry Spokesperson)
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