Stakeholders Optimistic about CPEC's Second Phase

The second phase of the China Pakistan Economic Corridor (CPEC) has garnered optimism and high expectations from key stakeholders. Senator Mushahid Hussain Sayed, former Chairman of the Senate Defence Committee, expressed confidence in the success of this phase during a recent policy dialogue event. He emphasized the significant benefits that are anticipated to unfold in the coming years through the collaborative efforts between Pakistan and China.

Senator Mushahid highlighted the pivotal role of CPEC within the broader Belt and Road Initiative (BRI) led by President Xi Jinping. He stressed the importance of regional connectivity and cooperation, dismissing any comparisons to a new cold war. The senator also identified CPEC as a crucial driver of progress in the 21st century, predicting even greater achievements in the next decade as its full potential is realized.

Dr. Abid Qaiyum Suleri, Executive Director of the Sustainable Development Policy Institute (SDPI), shed light on the potential for Pakistan-China collaboration in exploring 'Green Minerals' as a future energy source. He emphasized the necessity of addressing challenges like climate change and the evolving global trade regime, including mechanisms like the Carbon Border Adjustment Mechanism (CBAM) introduced by the European Union.

Mustafa Hyder Sayed, Executive Director of the Pakistan China Institute (PCI), stressed the significance of policy coordination and reforms to ensure the success of CPEC's second phase. He called for heightened security measures for Chinese personnel and advocated for a shift towards green energy initiatives under CPEC.

Energy expert Dr. Khalid Waleed highlighted the hurdles facing energy projects under CPEC, particularly in light of climate change concerns and financial limitations. He proposed reforms to align CPEC investments with green energy goals and emphasized the importance of a collaborative approach.

Shah Jahan Mirza, Managing Director of the Private Power and Infrastructure Board, emphasized the necessity of strategic planning to prevent setbacks in the power sector during the second phase of CPEC. He pointed out the transition towards business-to-business engagements post the initial government-to-government initiatives.

Wang Shengjie, Head of Political and Press Section at the Chinese Embassy, outlined the upgraded version of CPEC, stressing the importance of policy alignment between China and Pakistan for successful implementation. He introduced the '5C' framework proposed by the Chinese government, focusing on growth, innovation, and green initiatives.

N.A. Zuberi, Senior Advisor at China Three Gorges South Asia Investment Limited, raised concerns regarding Chinese firms operating under CPEC, emphasizing the necessity of effective collaboration and strategic planning.

The discussions surrounding the second phase of CPEC reflect a shared optimism for the future of this vital economic corridor. With a focus on collaboration, policy reforms, and green initiatives, stakeholders are gearing up for a decade of enhanced connectivity and progress. As challenges are acknowledged and solutions are proposed, the path forward for CPEC appears to be paved with opportunities for sustainable development and mutual benefit.