Sources familiar with the matter say the decision was finalized after extensive review, with implementation set to begin within weeks.
A monitoring committee comprising officials and independent members will publish quarterly progress reports, the announcement said.
Officials familiar with the matter said the initiative had been under preparation for several months, with technical committees reviewing detailed proposals before the final announcement was made public.
The announcement drew swift reactions across the political and business spectrum, with supporters calling it overdue and critics questioning the allocation of resources.
Speaking to reporters, a spokesperson said further details would be shared shortly, adding that stakeholder consultations were ongoing and feedback would be incorporated where feasible.
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