Pakistan is biggest beneficiary of China’s economic model’

A meeting to assess the state of decision-making related the China-Pakistan Economic Corridor (CPEC) projects, particularly those decided upon during Prime Minister (PM) Shehbaz Sharif’s recent visit to China, was chaired by Professor Ahsan Iqbal, Minister for Planning, Development, and Special Initiatives, on Thursday.

He presided over the meeting and declared, “There is complete agreement between the leaderships of China and Pakistan on the second phase of the China-Pakistan Economic Corridor, also known as CPEC 2.0.”

According to the minister, the PM’s talks with the Chinese President and Prime Minister, which centred on the tactical execution of these choices to guarantee the success of CPEC 2.0, continued with his travel to China last week.

He mentioned how world leaders were eager to take advantage of China’s creative approach and mentioned the interest in China’s economic development model worldwide. “As of 2018, Pakistan was the biggest beneficiary of China’s economic model and open market due to CPEC,” he said.

But after 2018, he claimed, things slowed down and Pakistan was left behind as other regional routes finished their projects.

Ahsan Iqbal emphasised the CPEC’s ongoing significance despite these obstacles because of Pakistan’s advantageous geographic location. He asked the Ministry of Railways to speed the ML1 project’s documentation and preparations.