PM Shehbaz, President Xi agree to upgrade CPEC, advance development in 2nd phase

Prime Minister Shehbaz Sharif and Chinese President Xi Jinping reaffirmed their consensus on the China-Pakistan Economic Corridor’s (CPEC) high-quality development and the timely completion of major ongoing projects in a productive meeting on Friday.

The two leaders also affirmed their consensus on CPEC’s upgradation and advancing the mega project’s development in its second phase.

The developments came as the premier and his delegation’s five-day China visit nears its end. This is PM Shehbaz’s first visit to China following the February 8 general elections, and will likely see the inauguration of CPEC’s second phase.

The trip has led to a delay in the annual federal budget — usually presented in the first week of June — and is now expected to be presented on June 12, according to the government’s tentative plan.