The 14th Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor (CPEC) concluded in Beijing on Friday, formally launching CPEC Phase-II. While no breakthrough was achieved on the long-standing issue of capacity payments to Chinese independent power producers (IPPs), the session was hailed as a milestone for future cooperation.
Federal Minister for Planning and Development Ahsan Iqbal said the next stage of CPEC would transform the initiative into a corridor of industrialisation, technology, sustainability, and shared prosperity. He highlighted that Phase-II will focus on five key growth areas: innovation, green development, livelihood, industrialisation, and regional connectivity. These priorities will be integrated with Pakistan’s URAAN 5Es framework of Exports, E-Pakistan, Energy & Environment, and Equity & Empowerment.
The September 2025 action plan sets an ambitious roadmap covering Special Economic Zones, agricultural modernisation, mining, maritime development, ML-1 railway modernisation, Karakoram Highway realignment, and continued progress in Gwadar. However, negotiations over Chinese IPPs remain unresolved, as Islamabad seeks an extension in repayment terms while China asks for stronger commitments under the IMF programme before finalising financing for ML-1.
Addressing Vice Chairman of the National Development and Reform Commission (NDRC) Zhou Haibing and Chinese delegates, Ahsan Iqbal emphasised that the JCC was not just about reviewing progress, but about reaffirming resolve for deeper cooperation. He proposed that JCC meetings be held every six months and Joint Working Groups convene quarterly during the first three years of Phase-II to ensure stronger institutional coordination.
Reiterating Pakistan’s full commitment to project security, he assured Chinese partners of protection for all CPEC projects and nationals. He noted that Pakistan and China had agreed to publish an updated CPEC long-term plan within 90 days, aligning Pakistan’s 5Es with the five corridors of CPEC 2.0.
Calling CPEC a symbol of “iron-clad friendship” built on trust and mutual respect, the minister said the initiative represents not only infrastructure development but also high-quality innovation and regional stability. He proposed that the 15th JCC be held in Islamabad in May 2026, coinciding with the 75th anniversary of Pakistan-China diplomatic relations.