Pakistan President promulgates ordinance to establish China Pakistan Economic Corridor Authority

China Gezhouba Group Chairman Lyu Zexiang meets Prime Minister Imran Khan in Beijing on Tuesday

By Nasir Aijaz
AsiaN Representative

Islamabad: President Arif Alvi has promulgated an ordinance to provide for the establishment of the China Pakistan Economic Corridor (CPEC) Authority.

The ordinance, signed by the President was promulgated on Monday, when the Prime Minister Imran Khan embarked on a two-day visit to China to hold important talks with Chinese leadership. The Ordinance will come into force at once.

The establishment of the CPEC Authority is aimed at accelerating the pace of CPEC related activities, find new drivers of growth, un-lock the potential of interlinked production network and global value chains through regional and global connectivity.

PM Khan is now in Beijing at the invitation of premier of the State Council of the Peoples’ Republic of China Li Keqiang.

He is scheduled to meet Premier Li Keqiang and President Xi Jinping.  Pakistan Army Chief will accompany PM Imran Khan as announced by the Foreign Office.

Reports from Beijing suggest that China Gezhouba Group Chairman Lyu Zexiang called on PM Khan on Tuesday and discussed cooperation in the energy sector.

The Chinese Group showed a keen interest in exploring new business avenues in Pakistan especially in the energy sector.

Founded in 1970, China Gezhouba Group Corporation (CGGC) is one of the most competitive listed companies with very strong financing capabilities. As a transnational operation enterprise with the fastest growth in China, CGGC has expanded its business in more than 100 countries and regions