Prime Minister Shehbaz Sharif on Thursday formally announced the launch of the second phase of the China–Pakistan Economic Corridor (CPEC) at an investment conference in Beijing, pledging to accelerate stalled projects and ensure the safety of Chinese nationals working in Pakistan. The announcement came during his six-day visit to China, which included meetings with President Xi Jinping, Premier Li Qiang, and Russian President Vladimir Putin, alongside sessions with Chinese investors.
CPEC, signed in 2015 as part of China’s Belt and Road Initiative, has so far attracted about $33 billion in investments, mainly in roads, energy, and infrastructure. Branded as “CPEC 2.0,” the new phase will focus on agriculture, industry, special economic zones, information technology, and artificial intelligence. Sharif highlighted agriculture as Pakistan’s “backbone,” urging Chinese firms to bring expertise and capital to boost productivity and growth.
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Sharif assured investors that security for Chinese workers was “paramount” and promised swift decisions to overcome bureaucratic hurdles. With economic reforms under the IMF program stabilizing finances and improving credit ratings, Islamabad hopes CPEC 2.0 will unlock new investment opportunities and revive long-term growth.
