Web desk: Federal Minister for Planning Ahsan Iqbal has announced the formal launch of the second phase of the China–Pakistan Economic Corridor (CPEC), which will establish a special corridor to link Balochistan’s mineral resources with Gwadar Port.
Speaking to the media in Beijing after co-chairing the meeting of the Joint Cooperation Committee (JCC) out of 14, Iqbal said the formal commencement of CPEC Phase 2 marks an important milestone.
He explained that, unlike the first phase, which focused on government-to-government cooperation, the new stage will emphasise business-to-business partnerships to attract Chinese investment into Pakistan.
According to the minister, an investment conference held in Beijing represents the beginning of a new era.
He linked the initiative to Pakistan’s “Uraan Pakistan” vision, which aims to transform the country into a one-trillion-dollar economy by 2035.
He underlined Pakistan’s small share in global exports, proposing the application of ASEAN tariffs on Pakistani products to enhance competitiveness.
Iqbal said CPEC Phase 2 should prioritise youth skills and human development, noting that Pakistan’s large youth population is a key strength.
He revealed that under the plan, 10,000 Pakistani students will be sent to 50 top Chinese universities for PhD programmes in advanced technologies over the next decade.
This, he argued, would help establish a technology-driven economy.
He added that in the coming two decades, equipping youth with digital skills could spark an economic transformation in Pakistan, while cooperation with China in technical and vocational training has also been agreed.
The minister further said that Pakistan will look to adopt China’s poverty alleviation model to ensure sustainable development and improve public welfare.
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