ISLAMABAD, Pakistan: The Minister for Planning and Development Khusro Bakhtiar has said that he federal government has decided to set up a China-Pakistan Economic Corridor (CPEC) Authority to upgrade the existing structure for speedy and focused execution of the projects.
While addressing a joint news conference along with the Special Assistant on Information Firdous Ashiq Awan in Islamabad on Saturday, Khusro Bakhtiar said that a bill to this effect will soon be introduced in the Parliament.
The minister said that the CPEC authority will work under the Ministry of Planning and Development, and specialists in various sectors will work with a focused and scientific approach.
Khusro Bakhtiar said that Pakistan and China have also decided to establish Pakistan-China Business Council with a view to include people from the private sector to implement industrial and agricultural development projects under the second phase of CPEC. He said that Pakistan has shared names of leading industrialists with the Chinese side for the purpose.
The federal minister further said that US$ 8.5 billion ML-1 railway track project has been divided into three phases, and the preliminary design of the project was signed during the last visit of the prime minister to China. He said that the project will contribute to materializing the dream of regional connectivity through Pakistan.
The planning minister said that Gwadar Master Plan is being finalized under which the port city will emerge as an attractive smart port of the world. He said that various projects are being executed in Gwadar under CPEC.
Khusro Bakhtiar said that the Chairman of National Development Reform Commission of China will visit Pakistan in October 2019.