Pakistan decides to close CPEC Authority in consent with China

ISLAMABAD (92 News) - Prime Minister Shehbaz Sharif has approved to close the China Pakistan Economic Corridor (CPEC) Authority in consent with China.

The Chinese authorities will be informed about the decision before making announcement in this regard. According to the Planning Division, the authority could not achieve the objectives of its establishment.

Addressing a ceremony on Thursday, Federal Minister for Planning Ahsan Iqbal said that it was their objective to complete the CPEC projects at a fast pace.

"CPEC is a successful and game-changer project for Pakistan. In 2014, Pakistan surprised the world by making investment of US$29 billion under CPEC. In 2013, terrorism and loadshedding was at its peak," he maintained.

The minister said that China proved himself to be an 'iron brother' by helping Pakistan in the projects of energy and infrastructure. "The Thar coal reservoirs can meet the energy need for 400 years," he added.

Ahsan Iqbal said that the real independence is impossible without a strong economy.