China-Pakistan sign agreement for joint audit of CPEC projects

In order to ensure the transperancy of the mega CPEC project, Pakistan and China have recently signed an accord for holding joint audit of certain projects under CPEC. Joint audit will help in improving transparency and accountability of this hefty project which is considered to be a game changer for Pakistan as well as the entire region.

“We have signed Memorandum of Understanding (MoU) with Chinese counterpart for undertaking joint audit of selected projects under CPEC,” Auditor General of Pakistan (AGP) Rana Assad Amin stated.

An MoU was signed between the Supreme Audit Institutions (SAIs) of Pakistan and China by Rana Assad Amin and Liu Jiyai, Auditor General of National Audit Office of People’s Republic of China (CNAO). Pakistan and China had made agreements to start with $51.5 billion projects pertaining energy, infrastructure and upgrading rail networks.

Assad Amin is to complete his on April 7. He stated that he had given international face to Pakistan’s audit outfit as they had signed MoU for conducting joint audit with Turkey, Iran, Vietnam and China so far. Such MoU would allow Pakistani auditors to exchange their experiences with counterparts and would also allow the execution of  joint audits.

“We have also agreed with China to undertake joint audit of selected projects under CPEC.”
“We are waiting for approval of this summary which will enable us to sign MoU for establishing more international linkages.”