Islamabad: The Federal Minister for Planning Development & Special Initiatives, Ahsan Iqbal, has emphasized the pivotal role of the private sector in harnessing the economic potential of the China-Pakistan Economic Corridor (CPEC) Phase-II. Iqbal chaired a comprehensive review meeting to evaluate the implementation of the CPEC Action Plan for 2025-2029, established during Prime Minister Muhammad Shehbaz Sharif’s visit to China in 2025. The meeting focused on the progress made in the first year and deliberated on strategies to expedite work on the agreed priorities.
According to the Press Information Department, Ahsan Iqbal remarked on the strengthening Pakistan-China relations, highlighting China’s significant investment during Pakistan’s energy crisis. CPEC Phase-I brought approximately $25 billion in Chinese investment, boosting Pakistan’s electricity generation capacity by nearly 8,000 megawatts. Iqbal noted the development of Thar coal and the fiber-optic network as major achievements and stated that Phase-II would leverage this foundation through business-to-business cooperation and advancements in industrial development, agricultural modernization, minerals, human capital, and technology.
Iqbal outlined the alignment of CPEC Phase-II priorities with the five pillars of URAAN Pakistan, specifically through its corridors focused on Growth, Livelihood, Innovation, Green Economy, and Openness. The Growth Corridor aims to enhance industrial and agricultural capacity to increase exports, while the Livelihood Corridor seeks to promote social development in less-developed regions. The Innovation Corridor, in line with E-Pakistan, will bolster IT capabilities and equip the youth with modern technological skills.
The Green Economy Corridor will concentrate on climate resilience, water and food security, and agricultural modernization. Iqbal announced the government’s plan to send 1,000 agricultural experts to China for training in modern agricultural technologies, aiming to establish a foundation for a “Green Revolution 2.0.”
Iqbal stressed the necessity for the private sector to lead in realizing CPEC Phase-II’s economic potential, with the government facilitating an investment-friendly environment. He highlighted the urgency of expanding exports, targeting $100 billion by 2035, and called for enhanced government-private sector collaboration to boost competitiveness and establish “Made in Pakistan” as a recognized global brand.
Emphasizing the importance of political stability, Iqbal urged all political forces to concentrate on economic strengthening and building a self-reliant, export-driven Pakistan. “For Pakistan’s future and a better tomorrow for our youth, we cannot compromise on the country’s economic development,” he stated, underscoring the need for national unity, reforms, and good governance.