Pakistan allocates Rs 150 million for CPEC Center of excellence
by Shafqat Ali
ISLAMABAD, June 12 (Gwadar Pro)– Pakistan allocated Rs 150 million for Center of excellence for the China-Pakistan Economic Corridor (CPEC).
The Centre of Excellence for CPEC is a joint initiative of Pakistan Institute of Development Economics (PIDE) and Ministry of Planning Development and Reform. It is the first social think tank for carrying out policy research on different aspects of CPEC.
According to the national budget presented on Friday in the parliament, the government allocated Rs 100 million for CPEC supporting projects, revising it for a third time.
The government has also allocated Rs 80 million in Public Sector Development Programme (PSDP) 2021-22 for one on- going scheme of the Board of Investment (BoI) on CPEC to enhance the industrial cooperation between both sides.
The Rs 80 million allocation will be used for establishment of Project Management Unit (PMU) on CPEC Industrial Cooperation Development Project (CPEC-ICDP) in PSDP 2021-22 to promote the local industrial sector.
The total estimated cost of the Project Management Unit (PMU) of CPEC Industrial Cooperation Development Project (CPEC-ICDP) is Rs 339.281 million which will be afforded in phases.