Pakistan, China to launch second phase of CPEC during Sharif's visit to Beijing

Pakistan's Planning Minister Ahsan Iqbal has confirmed that Prime Minister Shehbaz Sharif's upcoming visit to China will mark the formal launch of the second phase of the China-Pakistan Economic Corridor (CPEC-II).

"Prime minister's upcoming visit will mark the formal launch of CPEC-II, with both sides expected to set clear priorities and agree on tangible, measurable outcomes," Iqbal said, as quoted by Dawn on Wednesday.

Sharif is expected to travel to Beijing later this month to attend the Shanghai Cooperation Organisation (SCO) summit from August 31 to September 1. On the sidelines of the summit, he is also likely to hold meetings with Chinese President Xi Jinping and Russian President Vladimir Putin.

Iqbal underlined that the future of CPEC "must be anchored in quality rather than quantity," and that only “carefully selected, high-impact projects” should be pursued. He emphasized the need for sustainability and institutional strengthening in the corridor’s next phase.

The China-Pakistan Economic Corridor, a key component of Beijing’s Belt and Road Initiative (BRI), links Gwadar Port in Pakistan’s Balochistan province to China’s Xinjiang region. With a planned investment of around USD 60 billion, the CPEC has seen China funding road networks and energy projects across Pakistan. However, progress on several ventures slowed in recent years following targeted attacks on Chinese nationals working on CPEC sites.

India has repeatedly opposed the CPEC project as it passes through Pakistan-occupied Gilgit-Baltistan, which is an integral part of India. New Delhi views the corridor's construction in this region as a violation of its sovereignty and territorial integrity.

In May this year, China, Pakistan, and Afghanistan announced plans to extend the CPEC into Afghanistan. The decision was taken during a trilateral meeting in Beijing involving Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar, Chinese Foreign Minister Wang Yi, and Afghanistan’s Acting Foreign Minister Amir Khan Muttaqi.