CPEC Phase-II Officially Launched as Pakistan-China Partnership Enters Historic Stage
Islamabad/Beijing: The 14th Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor (CPEC) concluded in Beijing on Friday, marking the official launch of CPEC Phase-II despite unresolved issues over capacity payments to Chinese Independent Power Producers (IPPs).
Federal Minister for Planning Ahsan Iqbal hailed the development as a “historic stage” in Pakistan-China partnership, stressing that Phase-II would transform CPEC into a corridor of industrial growth, technology, sustainability, and shared prosperity.
The new phase emphasizes industrial cooperation, Special Economic Zones (SEZs), agricultural modernization, marine resource development, minerals, and major infrastructure projects, including the ML-1 railway, Karakoram Highway (KKH) rehabilitation, and Gwadar’s expansion.
However, sources revealed that Islamabad sought to extend the payment schedule for Chinese IPPs, leaving the matter unresolved. Beijing also requested specific commitments regarding partial financing of the ML-1 project, particularly in the context of Pakistan’s ongoing IMF program.
Addressing the closing session, Ahsan Iqbal underscored that CPEC Phase-II would be built around five key corridors: development, innovation, green growth, livelihoods, and regional connectivity, aligning with Pakistan’s 5Es framework—exports, e-Pakistan, energy & environment, equity, and empowerment.
He stressed the urgent implementation of ML-1 and KKH rehabilitation, calling them strategically vital for uninterrupted connectivity between Pakistan and China. He also proposed holding JCC meetings every six months and joint working group sessions every quarter during the first three years of Phase-II to maintain momentum.
Chinese Vice Chairman of the National Development and Reform Commission (NDRC), Mr. Xu Haibin, along with senior officials, attended the meeting and reiterated Beijing’s commitment to deepening economic cooperation with Islamabad.
