Pak- China Form Consortium
ISLAMABAD
Pakistan and China have agreed to establish a consortium of bilateral and multilateral partners to finance a USD 7 billion railway project as part of the second phase of the China-Pakistan Economic Corridor (CPEC). The plan also includes a four-year action roadmap (2025–29) to strengthen cooperation in infrastructure, trade, and security.
Planning and Development Minister Ahsan Iqbal said that during Prime Minister Shehbaz Sharif’s recent visit to Beijing, both sides finalised the decision to involve the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), China, and Pakistan in financing the 1,700-km Karachi–Peshawar railway line. He noted that China has also assured support for upgrading the Karakoram Highway. Negotiations with financiers are expected to conclude within a month.
The minister highlighted that the second phase of CPEC seeks to create a “China-Pakistan community with a shared future,” focusing on stronger political trust, deeper economic links, and enhanced people-to-people exchanges. The action plan aligns the Belt and Road Initiative (BRI) with Pakistan’s 5Es Framework, balancing large-scale infrastructure projects with “small and beautiful” livelihood initiatives to ensure high-quality development and robust security.
India has consistently opposed the CPEC project as it passes through Pakistan-occupied Kashmir (PoK). Despite the criticism, CPEC remains the flagship component of China’s global BRI strategy, which has drawn attention for expanding Beijing’s economic and strategic influence worldwide.
Pakistan and China launched the second phase of the CPEC earlier this year, signaling deeper collaboration on connectivity and development.
