CPEC’s second phase to drive business investment in Pakistan: Finance Minister Muhammad Aurangzeb

ISLAMABAD (PEN) : In a recent interview with China’s CGTN in Washington, Finance Minister Muhammad Aurangzeb emphasized the shift of the China-Pakistan Economic Corridor (CPEC) from a government-led model to business-to-business engagements in its second phase. Praising CPEC as the “champion project” of China’s Belt and Road Initiative, he highlighted the first phase’s success in infrastructure development and anticipated greater Chinese investment in the next phase. Aurangzeb also expressed gratitude for China’s debt rollover support, pledging Pakistan’s commitment to debt repayment after CPEC’s progression. During meetings with key international officials, including US and EXIM Bank representatives, he discussed energy reforms, renewable transition, and new investment avenues. He further appreciated the US support in energy sector challenges and Moody’s recent credit rating upgrade for Pakistan.