Abolishing CPEC Authority
Recently, China gave nod to Pakistan’s decision to scrap the China-Pakistan Economic Corridor (CPEC) Authority over the slow pace of the USD 60 billion project.
- The China-Pakistan Economic Corridor Authority was established in 2019 through an ordinance.
- It was aimed at accelerating the pace of CPEC-related activities, finding new drivers of growth, unlocking the potential of interlinked production networks and global value chains through regional and global connectivity.
Reasons for Abolishing
Financial Crisis
- One of the major concerns is the acute financial crisis faced by Pakistan, prompting it to step in periodically to bail it out with induction of foreign ....
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