Islamabad: 22nd January 2025: The 2025 Chinese Spring Festival in Islamabad was celebrated with a significant presence from key figures of the China-Pakistan Economic Corridor (CPEC) initiative, with Planning Minister Prof. Ahsan Iqbal Chaudhary and Chinese Ambassador Jiang Zaidong. Dignitaries from Pakistan and China gathered to celebrate and discuss ongoing and future collaborations under the China-Pakistan Economic Corridor (CPEC).

In his address, Planning Minister Prof. Ahsan Iqbal spoke of the strong bond between Pakistan and China, which he described as "higher than mountains, deeper than the ocean, and now, with the launch of the MM1 satellite, higher than the skies." The Minister emphasized the cultural and communal significance of the Chinese Spring Festival, noting its symbolism of renewal, reflection, and hope. 

Prof. Iqbal extensively discussed the transformative impacts of the first phase of CPEC, which has significantly enhanced Pakistan's infrastructure and energy sectors. "CPEC has added over 8,000 megawatts of electricity to our national grid, mitigating energy shortages that once crippled our industries and households," he stated. The completion of 17 power projects, two coal mines, and over 800 kilometers of motorways and highways under CPEC has strengthened national connectivity and economic stability.

The Minister further highlighted the inauguration of the Gawadar Port and the newly commissioned Gwadar International Airport, which are key to regional connectivity and strategic importance. He noted that these projects had created over 200,000 direct jobs, with many more anticipated as the initiative progresses.

Turning to the second phase of CPEC, Prof. Iqbal outlined its focus on business-to-business cooperation and the development of special economic zones, which are expected to further drive economic diversification and modernization. This phase aligns with Pakistan’s new five-year economic transformation plan, URAAN Pakistan, which is structured around five strategic pillars: exports, equity and empowerment, environment, energy, and infrastructure.

"CPEC's upgraded vision under Phase Two introduces five growth corridors that encompass industrial development, trade enhancement, technological advancement, sustainable development, and regional connectivity," Prof. Iqbal explained. These corridors aim to transform CPEC from a collection of infrastructure projects into a broad, inclusive platform that promotes long-term regional prosperity and development.

Chinese Ambassador Jiang Zaidong addressing the occasion appreciated Pakistan's economic resilience and growth. He commended the Pakistani government's successful management of the economy, which has led to a GDP growth projection of between 2.5% and 3.5% for the upcoming year. Ambassador Jiang highlighted the achievement of a current account surplus and improvements in both foreign investment and overseas remittances, which he attributed to effective bilateral cooperation.

Ambassador Jiang also celebrated the recent inauguration of the first commercial flight from Karachi to the new Gwadar International Airport, viewing it as a symbol of the dynamic and practical cooperation under CPEC. "This milestone not only sends a clear message of our joint commitment to strategic cooperation but also stands as a testament to the untiring efforts of both Pakistani and Chinese stakeholders," he remarked.

The ceremony also featured a special recognition segment where the best performing Chinese companies involved in CPEC projects in Pakistan were awarded certificates of excellence and souvenirs. This gesture highlighted the high standards of cooperation and performance that have characterized the successful implementation of these significant projects.