The China Pakistan Economic Corridor Authority Act, 2021
Under the China Pakistan Economic Corridor Authority Act, 2021 the government shall establish an Authority comprising of nine members including a Chairperson, an Executive Director Operations, and an Executive Director Research etc. responsible for planning facilitating, coordinating, enforcing, monitoring and evaluating the smooth implementation of all the activities related to the China Pakistan Economic Corridor. According to the China Pakistan Economic Corridor Authority Act, 2021, all the members of the authority shall be appointed by the government and the prime minister for the tenure of four years. Under the China Pakistan Economic Corridor Authority Act, 2021, no person shall be appointed as Chairperson, Member, Executive Director or Executive Director Research if he or his dependents have any direct or indirect conflict of interest with any person or body involved in any China Pakistan Economic Corridor project or initiative.
Moreover a business council named as China Pakistan Economic Corridor Business Council be established by the Board of Investment in order to supervise the objectives of this act in the best way possible. Furthermore, the Authority may establish a CPEC Fund in order to meet its financial requirements. The Authority, as highlighted by the act, shall prepare its own budget approved by a Budget Committee of three members which shall be constituted under this act. The Authority shall, within three months of the end of a financial year, submit to the Prime Minister, its annual report, which shall consist of the accounts and audit reports along with a comprehensive statement of work and activities carried out by the authority during the preceding financial year.
