President Arif Alvi signed CPEC authority ordinance.Authority will be applicable all over Pakistan.The authority will be comprised of 10 members. The Prime Minister will be the chairman of the authority for four years. The Prime Minister will appoint the executive directors and members of the authority.
A Grade 20 Government Officer will be the Chief Executive Officer of the Authority who will be posted on the Deputation. Now all activities related to CPEC will be performed under the same authority, no legal action can be taken against the authority or its officials.
The Authority will be responsible for coordination, monitoring and scrutiny on CPEC matters, decisions will be on a majority basis, authority meeting will be every quarter, no one benefiting from CPEC projects is part of the Authority.
A CPEC Business Council will be set up to achieve the objectives of the Authority. The Authority shall make its budget for each financial year. The 3-member Budget Committee will approve all types of investments made by the Authority.
The Auditor-General shall be authorized to audit the accounts of the Authority of Pakistan. According to the ordinance draft, the CPEC fund will be set up, all grants, investment loans and federal funds allocated by the authority will be part of the CPEC fund.