The government of Pakistan has decided to establish a China-Pakistan Economic Corridor (CPEC) Authority to improve the existing structure and accelerate the execution of the projects. The announcement was made by the Pakistan Minister for Planning and Development Khusro Bakhtiar during a news conference in Islamabad.
Government has decided to set up a China-Pakistan Economic Corridor Authority to upgrade the existing structure for speedy and focused execution of the projects: Minister for Planning and Development Khusro Bakhtiar pic.twitter.com/qjzlPLFoH8— Govt of Pakistan (@pid_gov) July 13, 2019
The minister said China and Pakistan have also taken a decision to establish a Pakistan-China Business Council that will also include people from the private sector. The purpose of the council will be to implement the development projects under CPEC in the industrial and agricultural sector. He also said Pakistan has shared the names of leading industrialists with the Chinese side for the purpose.
The Prime Minister of Pakistan Imran Khan held a meeting with a high-level delegation of over 55 executives and CEOs of the leading Chinese companies where the companies made a commitment of investing $5 billion in Pakistan in next 3-5 years.