Federal Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal, led a pivotal meeting with thirty-five Chinese enterprises and Pakistani business houses to foster enhanced bilateral cooperation and growth, underscoring the business-centric focus of the second phase of the China-Pakistan Economic Corridor (CPEC). According to Press Information Department, Minister Iqbal highlighted the substantial infrastructure developments made prior to 2018, with investments approximating $25 billion across various sectors. Despite a subsequent slowdown due to political transitions, the minister noted significant advancements since April 2022, including essential projects in Gwadar like the electricity transmission infrastructure and a 1.2 MGD water supply project. Iqbal praised the resilience of the Pakistani economy during economic challenges from 2018 to 2022 and lauded the Karachi Stock Exchange’s record performance as a sign of restored investor confidence. The session aimed to solicit proposa
ls for bolstering business-to-business partnerships, a crucial element of CPEC’s ongoing phase. The minister encouraged Pakistani businesses to leverage opportunities within China’s $2.7 trillion import market, which starkly contrasts with Pakistan’s modest $3 billion share. Regular bi-monthly meetings were proposed to swiftly resolve any pending issues, and the establishment of a specialized quality control mechanism by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) was directed to enhance the credibility of Pakistani businesses among Chinese partners. Minister Iqbal, referring to Chinese investors as “Heroes of Pakistan,” reassured them of the government’s commitment to ensuring a favorable business environment and continuous support throughout their ventures in Pakistan.