Pakistan Unveils People-Centric Phase II of CPEC, Aiming for $3 Trillion Tech Economy by 2047
Islamabad – Speaking after the 14th Joint Cooperation Committee (JCC) meeting on the China-Pakistan Economic Corridor (CPEC), Minister for Planning Ahsan Iqbal outlined ambitious plans for Phase II of the project, emphasizing its focus on people, education, and innovation.
Iqbal explained that Phase II aligns with Pakistan’s Five Es Framework, a strategic roadmap aimed at transforming the country into a $1 trillion economy by 2035. The framework targets exports, equity, environment, energy, and e-governance.
Highlighting cooperation with China, the minister revealed that both nations had agreed to develop five specialized corridors to shape CPEC’s future: the corridor of growth, livelihoods, innovation, green corridor, and a corridor of open and regional connectivity.
Describing Phase II as people-centric, Iqbal underscored the role of youth and education. Pakistan plans to send 10,000 Ph.D. scholars to top Chinese universities over the next decade to study fields such as artificial intelligence, engineering, and emerging sciences. By 2047, Pakistan aims to become a $3 trillion, technology-driven economy. Vocational and technical training will also expand in partnership with Chinese institutions to equip the country’s young workforce for the demands of a modern economy.
Cooperation will extend to realigning the Karakoram Highway, developing a mineral corridor in Balochistan, and enhancing multi-modal transport links with Central Asia.
The minister stressed that CPEC Phase II will increasingly focus on business-to-business collaboration rather than just government-to-government projects. Following Prime Minister Shehbaz Sharif’s recent visit to Beijing, where agreements worth $8.5 billion were signed at a business forum, Pakistan has set up facilitation desks and eased visa processes to attract Chinese investment.
Iqbal reaffirmed Pakistan’s commitment to the safety of Chinese nationals, describing them as “guests treated like family.” He added that any security incidents were orchestrated by foreign elements attempting to undermine bilateral cooperation, but expressed confidence that Pakistan and China would overcome such challenges together.
He concluded by emphasizing that Pakistan’s strong ties with China do not come at the expense of its other international partners.
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