Lieutenant General (r) Asim Bajwa has been appointed as the chairperson of the China-Pakistan Economic Corridor (CPEC) Authority. According to the notification issued by the Establishment Division, Lt Gen (R) Asim Saleem Bajwa has been appointed as Chairman CPEC Authority under the Ministry of Planning, Development and Reforms in MP-1 scale for a period of four years from the date of assuming the charge of the office with immediate effect and until further orders.
The CPEC Authority came into being after issuance of ordinance to this effect by the incumbent regime. The Chinese side was pressing hard the Pakistan government to establish such Authority that could ensure smooth and timely implementation on the second phase of CPEC.
The CPEC Authority would have to ensure timely payment on electricity production given by energy projects financed through CPEC. The CPEC Authority will also ensure sovereign guarantees for upcoming power generation projects as IMF had already agreed to increase the limit of sovereign guarantees under Extended Fund Facility (EFF) programme.