ISLAMABAD: Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, presided over an important meeting on Thursday to review the implementation status of the China-Pakistan Economic Corridor (CPEC) projects, with particular focus on decisions made during Prime Minister Shehbaz Sharif’s recent visit to China.

“There 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,” Iqbal stated during the meeting.

He noted that his recent visit to China was in continuation of PM Sharif’s discussions with the Chinese President and Prime Minister.

These discussions aimed at strategically implementing decisions to ensure the success of CPEC 2.0.

Highlighting the global interest in China’s economic development model, Iqbal pointed out that world leaders are keen to benefit from China’s innovative approach. “As of 2018, Pakistan was the biggest beneficiary of China’s economic model and open market due to CPEC,” he remarked.

According to a statement issued here, Iqbal acknowledged that progress slowed down after 2018, causing Pakistan to lag behind while other regional corridors completed their projects.

Despite these setbacks, Iqbal emphasised the continued importance of CPEC due to Pakistan’s strategic geographical position.

He urged the Ministry of Railways to expedite the documentation and preparatory steps for the ML1 project.

“During 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,” he announced. He stressed the need for full preparation by the Ministry of Railways and other concerned departments for this critical meeting.

“Given CPEC’s 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,” Iqbal added.

He called for coordinated efforts across relevant ministries and institutions to ensure the timely completion of CPEC projects.

“The 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.”

Additionally, he urged the Railway and National Highway Authority (NHA) to prepare a comprehensive master plan for road construction across the region.

“The 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,” he stressed.

Published in Dawn, July 19th, 2024