Second Phase of CPEC

Engineering Post Report 

The China-Pakistan Economic Corridor (CPEC), being the flagship project of the Belt & Road Initiative (BRI) has quite successfully completed the   first phase and is  now entering its second phase  after ten years celebrations  were marked by a number of functions in Islamabad. The great game changer CPEC had initially witnessed  planned  investment of US $ 46.6 billion. An economic programe, as the very name suggests is aimed  at enhancing  regional connectivity, trade and multilateral development cooperation  between China, Pakistan and beyond. The project was planned to be executed phase-wise from 2015 through 2030.

The project has made remarkable  progress in  the first phase  especially in the early harvest period (2013-18)  whereby several mega projects  have been completed including Karakoram High (KKH) Phase-1 (Havelian-Thakot Section),around 5320 MW  of  electricity to the  national grid. Projects worth US $ 13.9 billion in the transport and energy infrastructure  sectors have been carried out successfully and many more are under implementation and at varying stages of their completion.

The great game changer  CPEC had initially faced various setbacks, including security concerns, political instability in Pakistan, and the COVID-19 pandemic. However, both China and Pakistan have reaffirmed their commitment  to the project, and efforts  were being made at the appropriate high levels to address the challenges.  

CPEC’s second phase is focused  on industrialization, agriculture modernization, socio-economic  development and cooperation in Science and Information Technologies has already taken off. The purpose was to reap the projected rich dividends of the investment made in the energy and transport sectors.

However, the period of other avenues of cooperation defined in the CPEC -Long-Term-Plan (2015-30) were being opened to deepen the cooperation between the  two countries. Tourism, Mines & minerals and Petroleum sectors  were among the  sectors opened for cooperation in the second phase  over and above the already mentioned  sectors. Projects in the existing and the newly-established areas would surely and certainly enhance the  capacity  of Pakistan that would hopefully result in improving the economic competitiveness of the country.