ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Ehsan Iqbal, has announced plans to upgrade the China-Pakistan Economic Corridor to its second phase, with a focus on growth, innovation, sustainability, livelihoods and regional connectivity.
A symposium is scheduled to be held in Beijing from December 17 to 30 to clarify the scope and implementation strategy of the upgraded China-Pakistan Economic Corridor (CPEC) initiative.
The minister, along with Chinese Ambassador Jiang Zedong, praised the contributions of employees working in the China-Pakistan Economic Corridor at a ceremony held at the Chinese Embassy on Friday. Awards were distributed in honor of their efforts and commitment to making the initiative a success.
Speaking at the event, Ahsan Iqbal highlighted the importance of recognizing the exceptional work of employees involved in CPEC projects. He noted that the China-Pakistan Economic Corridor reflects the strong bilateral cooperation between Pakistan and China, which has enhanced economic cooperation, strengthened relations, and strengthened strategic partnerships over the past decade.
The Minister praised the workers, engineers, technicians and project managers from the two countries for their dedication and professionalism. He stressed that their efforts were crucial to the success of the first phase of the China-Pakistan Economic Corridor, as they contributed to the development of infrastructure, energy projects, logistics and technology.
He said these efforts have boosted the economy, created job opportunities and improved the quality of life for millions in Pakistan.
Highlighting the achievements of the China-Pakistan Economic Corridor, Iqbal said that the first phase concluded with the completion of 43 projects worth approximately $25 billion. These included 17 power projects that added 8,800 megawatts to the national grid, two coal mines, and a high-voltage direct current (HVDC) transmission line of more than 660 kV.
In the transportation sector, eight projects costing US$6.7 billion were completed, resulting in the construction of 888 kilometers of highways and expressways, with another 853 kilometers under construction. He also referred to the Karakoram Expressway (Havilyan-Thakut) project which received international recognition by winning the ENR Award.
The first phase of the China-Pakistan Economic Corridor has generated nearly 200,000 direct jobs, with more indirect jobs expected.
Iqbal announced that the second phase of the China-Pakistan Economic Corridor will prioritize cooperation between companies in areas such as manufacturing, agriculture, mines and metals, Gwadar port and free zone. This phase is expected to be more labor intensive and bring enhanced economic benefits to both countries.