ISLAMABAD – Iron Friends Pakistan and China announced $7 billion financing plan for Mainline-1 (ML-1) railway project, alongside an ambitious four-year roadmap for the next phase of the China-Pakistan Economic Corridor (CPEC).
Planning and Development Minister Ahsan Iqbal confirmed development that occured during Prime Minister Shehbaz Sharif’s high-profile visit to China, as two nations agreed to form a consortium including China, Pakistan, the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB) to fund the 1,700-kilometer Karachi-Peshawar railway — the backbone of Pakistan’s transport network.
Beijing also committed funding for the strategic Karakoram Highway, further solidifying the countries’ long-standing partnership. Negotiations with additional financiers are expected to conclude within weeks, potentially unleashing one of the largest infrastructure projects in Pakistan’s history.
Iqbal called it more than a project; saying it transformation, as past political turmoil had delayed ML-1 and the Sukkur-Hyderabad Motorway. “Now, Pakistan is back on the fast track to development.”
The four-year action plan (2025–2029) promises to create a “China-Pakistan community with a shared future,” with sweeping initiatives to boost trade, security, and people-to-people ties. Agriculture modernization, industrial development, and special economic zones in Karachi and Islamabad are slated to be major beneficiaries.
The plan also targets the mining sector, industrial parks, and advanced agricultural technologies, including modern irrigation, seed capacity building, and agro-processing — a bold push to turn Pakistan into a hub of industrial and agricultural innovation.
The Belt and Road Initiative (BRI) will be closely aligned with Pakistan’s 5Es Framework, combining mega infrastructure projects with smaller community-centered ventures, ensuring development is both high-impact and inclusive.
