Tag: CPEC

Pakistan Moves to Settle Rs320bn CPEC Plant Dues With Rs565bn Financing

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CPEC-IPPs

ISLAMABAD: Pakistan has secured Rs565 billion under a Rs1.225 trillion financing package with 18 commercial banks, paving the way for long-delayed settlements with seven China-Pakistan Economic Corridor (CPEC) coal-based Independent Power Producers (IPPs). Of the total raised, Rs660 billion has already been allocated to clear Power Holding Company (PHL) debt, while the remaining Rs565 billion is earmarked for payments to CPEC coal plants and 49 wind and solar IPPs. The government is pressing Chinese operators for a Rs170 billion waiver in late payment interest (LPI), reducing the Rs320 billion outstanding…

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CPEC Enters Phase-II: Pakistan, China Unveil Decade-Long Roadmap as JCC Concludes in Beijing

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Payment issue with Chinese IPPs remains unresolved; focus shifts to industrialisation, ML-1, and Gwadar development ISLAMABAD: The 14th Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor (CPEC) concluded in Beijing on Friday, ushering in Phase-II of the landmark initiative with a comprehensive roadmap for the next decade. However, the long-standing issue of capacity payments to Chinese Independent Power Producers (IPPs) remained unresolved, as Islamabad sought an extension in repayment timelines. Federal Minister for Planning Ahsan Iqbal, in his closing remarks, hailed CPEC Phase-II as a “corridor of industrialisation,…

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PM Shehbaz, Chinese Envoy Reaffirm Commitment to CPEC and Regional Cooperation

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ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday reaffirmed Pakistan’s unwavering commitment to the China-Pakistan Economic Corridor (CPEC), calling it the cornerstone of the enduring strategic partnership between Islamabad and Beijing. During a meeting with Chinese Ambassador Jiang Zaidong, the premier emphasized the timely execution of key infrastructure projects, including the Main Line-1 (ML-1) railway upgrade, the Karakoram Highway expansion, and the further development of Gwadar Port. According to a statement from the Prime Minister’s Office, discussions also covered enhanced bilateral cooperation in agriculture, industry, and information technology. Prime Minister Sharif…

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CPEC can make Pakistan gateway for int’l trade, investment: president

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for int’l trade, investment: president Source: Xinhua Editor: huaxia 2025-03-11 09:16:22     ISLAMABAD, March 11 (Xinhua) — Pakistani President Asif Ali Zardari said on Monday that the China-Pakistan Economic Corridor (CPEC) and Gwadar Port have the potential to transform Pakistan into a center of international trade and provide vital connectivity to multiple regions. “CPEC remains central to our vision of connectivity,” the president said, urging the government to prioritize these two projects to position Pakistan as a gateway linking Central Asia, South Asia, and the Middle East. Addressing the joint…

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Pakistan, China commit to top-notch CPEC 2.0

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ISLAMABAD: Pakistan and China have reaffirmed their commitment to high-quality development of the China-Pakistan Economic Corri­dor (CPEC) 2.0, with emphasis on industrialisation, Spe­c­ial Economic Zones (SEZs), clean ene­rgy, agriculture and livelihood projects. This was agreed between the two sides in the 5th meeting of the CPEC Joint Working Group on Inter­nat­ional Coope­ration and Coordination (JWG-ICC) held in Beijing, the Foreign Office spokesperson said in a statement on Saturday. The meeting was co-chaired by For­eign Secretary Amna Baloch and Chi­nese Vice Foreign Minister Sun Weidong. The meeting acknowledged the pivotal role…

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