Pakistan and China renew commitment to CPEC; planning minister calls for enhanced preparation and cooperation<\/p>\n\n\n\n
Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, chaired a meeting on Thursday to assess the implementation of decisions regarding China-Pakistan Economic Corridor (CPEC) projects.<\/p>\n\n\n\n
These decisions were particularly those made during Prime Minister Shehbaz Sharif\u2019s recent visit to China.<\/p>\n\n\n\n
\u201cThere is complete agreement between the leaderships of China and Pakistan on the second phase of the China-Pakistan Economic Corridor, also known as CPEC 2.0,\u201d said Iqbal.<\/p>\n\n\n\n
The minister said his visit to China last week was a continuation of the PM\u2019s discussions with the Chinese president and prime minister, which focused on the strategic implementation of these decisions to ensure the success of CPEC 2.0.<\/p>\n\n\n\n
Mentioning the global interest in China\u2019s economic development model, he said world leaders were keen to benefit from China\u2019s innovative approach. \u201cAs of 2018, Pakistan was the biggest beneficiary of China\u2019s economic model and open market due to CPEC,\u201d he remarked.<\/p>\n\n\n\n
However, he said, progress slowed down after 2018, leaving Pakistan behind while other regional corridors completed their projects.<\/p>\n\n\n\n
Despite these setbacks, Ahsan Iqbal stressed the continued importance of CPEC due to Pakistan\u2019s strategic geographical position. He urged the Ministry of Railways to expedite the documentation and preparatory steps for the ML1 project.<\/p>\n\n\n\n
\u201cDuring my recent visit to China, we agreed to convene an early meeting of the Joint Financing Committee for the ML1 project, which will take place within a month,\u201d he announced.<\/p>\n\n\n\n
He stressed the need for full preparation by the Ministry of Railways and other concerned departments for this critical meeting. \u201cGiven CPEC\u2019s unique status, there are ample growth opportunities. To capitalise on these opportunities, we must be serious about completing the projects included in Phase 2.0,\u201d he added.<\/p>\n\n\n\n
The minister also called for a collaborative effort from all relevant ministries and institutions to ensure the timely completion of CPEC projects. \u201cThe governments of China and Pakistan have agreed to start work on the ML1 project soon. The duration and stages of completion will be determined in the upcoming meeting of the Joint Financing Committee.\u201d<\/p>\n\n\n\n
Additionally, he urged the Railway and National Highway Authority (NHA) to prepare a comprehensive master plan for road construction across the region. \u201cThe master plan should outline how CPEC and Pakistan can play a pivotal role in connecting the entire region and serve as an engine of global economic growth,\u201d he stressed.<\/p>\n\n\n\n