GEORGE TOWN, July 20 -- The Penang state government has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) as the consultant to prepare the white paper, framework and action plan for the proposed Penang International Financial Centre (PIFC).

Penang Chief Minister Chow Kon Yeow said this decision was made by the PIFC special task force committee.

"The letter of appointment was issued to PwC on June 15 and the company has returned the Letter of Acceptance, confirming its agreement to all the terms and conditions of the appointment," he said in a statement issued today.

He said PwC was given 20 weeks to complete the white paper, strategic framework (blueprint) and action plan as well as set the direction for the establishmen...