<p>Islamabad: Pakistan and China have agreed to form a consortium of bilateral and multilateral partners to finance a $7 billion railway project, along with a four-year action plan (2025-29) for the second phase of the CPEC initiative.</p>.<p>Pakistan and China recently launched the second phase of the controversial China-Pakistan Economic Corridor (CPEC) project.</p>.Pakistan court blocks deportation of 51 Afghan refugee families.<p>Speaking at a news conference, Planning and Development Minister Ahsan Iqbal said that during Prime Minister Shehbaz Sharif’s recent visit to China, the two sides had agreed to constitute a consortium of financiers, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), China and Pakistan, for the 1,700-km Karachi-Peshawar railway line, the Dawn newspaper reported on Tuesday.</p>.<p>He said China had assured financing not only for the rail project but also for the Karakoram Highway.</p>.<p>Negotiations with multiple financiers would be concluded within a month, Iqbal said.</p>.<p>The minister said Pakistan and China have agreed to develop and implement a four-year action plan to build, between 2025 and 2029, a “China-Pakistan community with a shared future” with stronger political trust, closer trade ties, deeper security cooperation and stronger people-to-people links.</p>.<p>The plan includes aligning the Belt and Road Initiative (BRI) with Pakistan’s 5Es Framework, implementing both large-scale landmark projects and “small and beautiful” livelihood projects, while ensuring both high-quality development and robust security, the Dawn reported.</p>.<p>India opposes the CPEC, which will link Xinjiang in China and the Gwadar port in Pakistan's Balochistan, as it passes through Pakistan-occupied Kashmir (PoK). The CPEC is the flagship project of China’s ambitious multi-billion-dollar Belt and Road Initiative (BRI).</p>.<p>The BRI is seen as an attempt by Beijing to further its influence abroad with infrastructure projects funded by Chinese investments all over the world. </p>
<p>Islamabad: Pakistan and China have agreed to form a consortium of bilateral and multilateral partners to finance a $7 billion railway project, along with a four-year action plan (2025-29) for the second phase of the CPEC initiative.</p>.<p>Pakistan and China recently launched the second phase of the controversial China-Pakistan Economic Corridor (CPEC) project.</p>.Pakistan court blocks deportation of 51 Afghan refugee families.<p>Speaking at a news conference, Planning and Development Minister Ahsan Iqbal said that during Prime Minister Shehbaz Sharif’s recent visit to China, the two sides had agreed to constitute a consortium of financiers, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), China and Pakistan, for the 1,700-km Karachi-Peshawar railway line, the Dawn newspaper reported on Tuesday.</p>.<p>He said China had assured financing not only for the rail project but also for the Karakoram Highway.</p>.<p>Negotiations with multiple financiers would be concluded within a month, Iqbal said.</p>.<p>The minister said Pakistan and China have agreed to develop and implement a four-year action plan to build, between 2025 and 2029, a “China-Pakistan community with a shared future” with stronger political trust, closer trade ties, deeper security cooperation and stronger people-to-people links.</p>.<p>The plan includes aligning the Belt and Road Initiative (BRI) with Pakistan’s 5Es Framework, implementing both large-scale landmark projects and “small and beautiful” livelihood projects, while ensuring both high-quality development and robust security, the Dawn reported.</p>.<p>India opposes the CPEC, which will link Xinjiang in China and the Gwadar port in Pakistan's Balochistan, as it passes through Pakistan-occupied Kashmir (PoK). The CPEC is the flagship project of China’s ambitious multi-billion-dollar Belt and Road Initiative (BRI).</p>.<p>The BRI is seen as an attempt by Beijing to further its influence abroad with infrastructure projects funded by Chinese investments all over the world. </p>