ISLAMABAD: President Dr. Arif Alvi has promulgated an Ordinance to provide for the establishment of the China Pakistan Economic Corridor Authority.

The Ordinance promulgated by the president on October 5 in exercise of his powers under clause (1) of Article 89 of the Constitution and issued here on Monday, maybe called the “China Pakistan Economic Corridor Authority Ordinance 2019”.

The Ordinance extends to the whole of Pakistan. Section 1 of the Ordinance shall come into force at once and other provisions shall come into force on such date or dates as the prime minister may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions.

The establishment of the CPEC Authority was 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.

The government decided to issue an ordinance as both the houses of the Parliament, the National Assembly and the Senate, were not in session.

According to the text of the ordinance, the Prime Minister will appoint the chairperson, executive directors and members of the CPEC authority for a tenure of four years. The authority will comprise 10 members.

The chief executive of the authority will be a Grade-20 government officer.

The CPEC body having the office in the federal capital will determine further cooperation between Pakistan and China in various sectors. It will also coordinate in the Joint Working Group, according to the text of the legislation.

The body will also coordinate between provinces and ministries for the CPEC projects and will take decisions with the majority of the members, the text said.

The CPEC authority will work in accordance with the memorandum of understanding signed between Pakistan and China.