ISLAMABAD: The federal government has decided to introduce a new law to replace defunct China Pakistan Economic Corridor (CPEC) Authority Ordinance, local media reported.
According to sources, Cabinet Committee for Legislation Affairs has approved the proposed draft of the law under which CPEC Authority chairman and other officers will have immunity from investigations of the National Accountability Bureau (NAB) and Federal Investigation Agency (FIA).
Under the proposed bill, some powers of the CPEC Authority chairman will be curtailed.
The post of chief executive officer will be eliminated if the new law is enacted by the government.
The bill further says CPEC Authority to report to directly to the prime minister instead of the Ministry of Planning and Development.
It further says CPEC chairman’s authority to form business council should be abolished, adding, the Board of Investment will notify the council.
Last year in October, President Arif Alvi had promulgated “The CPEC Authority Ordinance, 2019” for the establishment of the ‘China-Pakistan Economic Corridor Authority (CPECA)’.
