Shehbaz Sharif’s government has decided to abolish the China-Pakistan Economic Corridor Authority (CPECA) in order to prevent Pakistan from falling into the same trap.

The Pakistan Army-controlled authority will now be reorganized and absorbed into the Ministry of Planning and Development. The new government has reclaimed economic policymaking from the army with this step.

During the Imran Khan era, the army dominated economic policies, and authority was a part of the domineering game.

However, the Chinese have shut down almost 37% of the installed capacity of the CPEC power projects, or 1,980 megawatts, due to non-payment of dues to Chinese investors, which appears to be the immediate provocation for the decision.

The PTI government could only start development on four of the nine Special Economic Zones (SEZs). These SEZs were intended to attract USD 40 billion in international investment.

Meanwhile, Shaukat Kashmiri London-based rights campaigner claims that Pakistan’s new government, led by Prime Minister Shehbaz Sharif, is burdened by his predecessor Imran Khan’s economic and political disaster.