Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal reviews progress on CPEC 2.0 in a meeting on Thursday.
ISLAMABAD – Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, chaired a meeting on Thursday to review the implementation of decisions related to China-Pakistan Economic Corridor (CPEC) projects, particularly those made during Prime Minister Shehbaz Sharif’s recent visit to China.
Iqbal emphasized that there is full agreement between China and Pakistan on advancing to the second phase of CPEC, also known as CPEC 2.0. He noted that his recent visit to China was a continuation of discussions with Chinese leaders, focusing on strategically implementing these decisions to ensure CPEC 2.0’s success.
“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 highlighted the global interest in China’s economic development model and pointed out that, as of 2018, Pakistan was the largest beneficiary of this model through CPEC. Despite this, progress slowed after 2018, putting Pakistan behind compared to other regional corridors that completed their projects.
Iqbal stressed that despite these setbacks, CPEC remains crucial due to Pakistan’s strategic location. He urged the Ministry of Railways to accelerate the documentation and preparatory work for the ML1 project and announced that an early meeting of the Joint Financing Committee for ML1 will be scheduled within a month.
As Ahsan Iqbal reviews progress on CPEC 2.0, he called for thorough preparation by the Ministry of Railways and other relevant departments for this key meeting. He underscored the significant growth opportunities provided by CPEC Phase 2.0 and emphasized the need to complete these projects diligently.
Iqbal also called for coordinated efforts from all relevant ministries and institutions to ensure timely completion of CPEC projects. He announced that work on the ML1 project would commence soon, with its duration and stages to be outlined in the upcoming Joint Financing Committee meeting.
Furthermore, he urged the Railway and National Highway Authority (NHA) to develop a comprehensive master plan for regional road construction , highlighting the importance of CPEC in connecting the region and driving global economic growth. “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.
Ahsan Iqbal reviews progress on CPEC 2.0 as it continues to be a driver for regional economic growth.
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