WASHINGTON: Finance Minister Muhammad Aurangzeb has said that the China-Pakistan Economic Corridor (CPEC) has transitioned from a government-to-government investment model in its first phase to a business-to-business engagement in its second phase.

He made these remarks in an interview with the US edition of China’s CGTN network. He previously indicated that Pakistan could repay its Chinese debt only after successfully completing CPEC’s second phase.

During his interview with CGTN, the minister described CPEC as the “champion project” of China’s Belt and Road Initiative, noting that significant infrastructure — particularly road networks and ports — was developed during the first phase.

He underscored the importance of CPEC’s second phase and highlighted Pakistan’s anticipation of increased Chinese investment to support this stage. He thanked the Chinese government and banks for their assistance in debt rollovers, while acknowledging the need for eventual repayment, affirming Pakistan’s commitment to fulfilling its financial........

© Dawn Business