Pakistan and China have reached an agreement to revive the second phase of the China-Pakistan Economic Corridor (CPEC). The accord was made during the visit of Chinese Vice Premier He Lifeng to Pakistan, which commemorated the 10-year milestone of CPEC.
During his three-day visit, the Chinese Vice Premier engaged in formal discussions with Prime Minister Shehbaz Sharif. Additionally, he participated in a special event celebrating the decade of CPEC and also met with President Arif Alvi and Army Chief General Asim Munir.
One of the key decisions taken during the meeting was to expedite the multi-billion-dollar Main Line (ML)-1 railway project, which has been facing delays for a considerable period.
Furthermore, both parties finalized the minutes of the last Joint Cooperation Committee (JCC) meeting, the highest decision-making body on CPEC. The delay in signing the meeting’s minutes had raised concerns, but the matter was now resolved.
In commemoration of the 10-year anniversary, special Postal Stamps, Commemorative Coins, and First Day Covers were issued to mark the occasion.
The China-Pakistan Economic Corridor, launched in 2013, has led to the initiation and successful completion of various projects in energy, transport infrastructure, port/airport development, and digital connectivity over the past decade.
As the second phase of CPEC unfolds, the collaboration between Pakistan and China is expanding into new areas, including rural revitalization, agricultural development, industrialization, green development, and science and technology.
