Ahsan Iqbal urges faster execution of CPEC Phase-II action plan

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has called for accelerated implementation of the CPEC Action Plan 2025–2029, stressing that agreed priorities must move forward at a faster pace to unlock the next phase of economic cooperation between Pakistan and China.

 

Iqbal chaired a review meeting to assess progress during the first year of the action plan, which was finalised during Prime Minister Shehbaz Sharif’s visit to China in August 2025. The meeting also examined measures to speed up work on key initiatives under the second phase of the China-Pakistan Economic Corridor (CPEC).

 

The minister said Pakistan-China ties had remained resilient through challenging periods and recalled China's role in supporting Pakistan during its energy crisis.

 

He said CPEC Phase-I attracted around $25 billion in Chinese investment and added nearly 8,000 megawatts to Pakistan’s power generation capacity, helping address energy shortages and improve energy security.

 

Iqbal identified the development of Thar coal and the fibre-optic network among the major achievements of the first phase, saying the second phase would build on this foundation by expanding cooperation in business-to-business investment, industrial development, agriculture, minerals, human capital and technology.

 

Private sector to drive Phase-II

 

The minister stressed that the private sector would have to play a central role in translating CPEC Phase-II into broader economic gains.

 

He said the government’s responsibility was to create an enabling environment for investment, facilitate businesses and encourage stronger partnerships between Pakistani and Chinese companies.

 

Iqbal described the expansion of exports as a “national emergency”, highlighting the government’s ambition to increase Pakistan’s exports to $100 billion by 2035.

 

He said achieving the target would be critical for strengthening Pakistan’s economic position and ensuring sustainable growth.

 

The minister also stressed that economic transformation could not be achieved without political stability. He called for national unity, structural reforms and improved governance to convert Pakistan’s recent strategic and diplomatic developments into tangible economic benefits.

 

He directed relevant authorities to maintain momentum on the CPEC Action Plan and ensure timely implementation of the agreed priorities, with greater emphasis on projects capable of generating investment, employment and export growth.