Shehbaz Sharif warns CPEC 2.0 is Pakistan’s ‘last chance’ to secure Chinese investment

Prime Minister Shehbaz Sharif has reportedly warned that Pakistan cannot afford delays in the execution of the China-Pakistan Economic Corridor (CPEC) projects, emphasising that the second phase of the initiative could be the country’s last chance to benefit from Chinese investment and expertise.

The Pakistani prime minister, on Saturday, directed ministries and divisions to ramp up work on more than $8 billion worth of projects under CPEC 2.0. He cautioned that strict action would be taken against officials responsible for unnecessary hold-ups, The Express Tribune has reported.

Sharif emphasised that agreements signed at the Pakistan-China Business-to-Business Investment Conference in Beijing earlier this month, valued at $8.5 billion, must now be translated into binding joint venture contracts to ensure that promised investments materialise.

He noted that Beijing has agreed to expand CPEC through a second phase focusing on agriculture, Special Economic Zones, mining and mineral development, and the upgradation of the Karakoram Highway. He urged ministries to pursue these projects with “total commitment,” stressing that the government was answerable to the people for results.