Pak, China agree to revive CPEC phase 2

Pak, China agree to revive CPEC phase 2August 1, 2023

Islamabad, Aug 1 (IANS) Pakistan and China have agreed to revive the second phase of the China-Pakistan Economic Corridor (CPEC), the flagship project of Chinese President Xi Jinping’s Belt and Road Initiative (BRI).

The agreement on Monday came amid Chinese Vice Premier He Lifeng’s three-day visit to Pakistan to mark 10 years of CPEC, reports The Express Tribune.

On Monday, the Chinese politician held formal talks with Prime Minister Shehbaz Sharif, attended a special event to mark the 10-year anniversary and also called on President Arif Alvi and the Army Chief General Asim Munir.

The two sides also decided to expedite the process of multi-billion-dollar Main Line (ML)-1 railway project that has been facing a delay for years.

They also finally signed the minutes of the last Joint Cooperation Committee (JCC) meeting.

The JCC is the highest decision-making body on CPEC. The last JCC was held in October 2022 and delay in the signing of minutes of the meeting raised several questions, The Express Tribune reported.

To mark the occasion, a special Postal Stamp, Commemorative Coin and First Day Cover, were also issued.

Pakistan and China kicked off the CPEC projects in 2013.

As part of the CPEC, the two countries initiated and completed multiple projects in the past 10 years in the energy, transport infrastructure, port/airport development and digital connectivity.

Under the second phase, both countries have expanded cooperation to new areas, including rural revitalisation; agricultural development; industrialisation; green development and science and technology.

–IANS

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