Entertainment
CPEC enters Phase-II as Pakistan, China unveil roadmap for next decade
- IPP payment issue still unresolved at JCC.
- ML-1, KKH realignment top Phase-II priorities.
- Updated long-term plan due within 90 days.
ISLAMABAD: The 14th Joint Cooperation Committee (JCC) of the China-Pakistan Economic Corridor (CPEC) wrapped up in Beijing on Friday without a breakthrough on long-pending capacity payments to Chinese independent power producers (IPPs), The News reported.
Even so, the session marked a milestone, formally ushering the partnership into CPEC Phase-II. Federal Minister for Planning and Development Ahsan Iqbal said: “Together, these priorities will transform CPEC into a corridor of industrialisation, technology, sustainability, and shared prosperity.”
These goals are anchored in the September 2025 action plan to build a closer China-Pakistan community with a shared future.
The plan maps a broad agenda spanning industrial cooperation, Special Economic Zones, agricultural modernisation, maritime development and mining, alongside flagship connectivity schemes including ML-1 railway modernisation, Karakoram Highway (KKH) realignment and continued development of Gwadar.
However, the sources said that the Chinese IPPs issue could not be resolved as Islamabad wished to extend the repayment period. On the partial financing of the ML-1, China asks Islamabad for a certain commitment before finalising the financing agreement in the context of the ongoing IMF programme.
The planning minister delivered the closing remarks, highlighting the shared vision, renewed determination, and ambitious roadmap that will shape the next stage of this transformative initiative.
Addressing Vice Chairman of the National Development and Reform Commission (NDRC) Zhou Haibing, Chinese hosts, and delegates, Minister Ahsan expressed heartfelt gratitude for the wisdom and commitment that have defined the deliberations of the JCC.
He underscored that the 14th JCC was not just a review of past progress, but a reaffirmation of the collective resolve to deepen cooperation and build a future of shared prosperity.
Highlighting the forward-looking agenda, the Minister noted that CPEC Phase-II will be driven by the five corridors of growth, innovation, green development, livelihood, and regional connectivity.
These will be aligned with Pakistan’s URAAN 5Es framework of Exports, E-Pakistan, Energy & Environment, and Equity & Empowerment. Minister Ahsan Iqbal stressed the urgency of implementing ML-1 and KKH realignment, noting their strategic importance for uninterrupted connectivity between Pakistan and China.
He stressed that early execution of these projects would yield far-reaching economic dividends for the entire region. To ensure sustained momentum, he proposed holding JCC meetings every six months and convening Joint Working Groups quarterly during the first three years of Phase-II. This institutional strengthening, he said, will guarantee effective coordination, timely decision-making, and results-oriented progress.
Acknowledging the geopolitical challenges and propaganda by anti-CPEC forces, the minister urged swift agreement on the JCC minutes to send a strong signal of unity and decisiveness. He announced that Pakistan and China had agreed to publish an updated CPEC long-term plan within 90 days, reflecting the convergence of Pakistan’s 5Es with the five corridors of CPEC 2.0.
Reassuring Chinese partners, Ahsan Iqbal affirmed Pakistan’s unwavering commitment to the safety and security of all CPEC projects and every Chinese national working in Pakistan. He described CPEC not only as a development initiative but as a symbol of the iron-clad friendship between Pakistan and China, underpinned by trust, stability, and mutual respect.
“CPEC is about making China and Pakistan not only all-weather friends, but also partners in high-quality development and innovation for the 21st century,” he said.
Concluding his remarks, the minister extended deep gratitude to the leadership of both countries, the NDRC, and all delegates for their invaluable contributions. With renewed determination, he expressed confidence that the next decade of CPEC would bring even greater transformation than the last.
He proposed that the 15th JCC meeting be held in May 2026 in Islamabad, coinciding with the 75th anniversary of diplomatic relations between Pakistan and China, further cementing the historic ties between the two nations.
Robert Downey Jr. gave Timothée Chalamet validation that he has reached the level of excellence he’s been striving for.
The Dune star has long spoken openly about his “pursuit of greatness” and now, he’s gotten a major seal of approval from the legend.
During a recent Q&A for Marty Supreme, the Avengers: Doomsday star didn’t hold back, calling the newly minted Golden Globes Best Actor winner “one of the greats.”
“You’ve talked a lot lately about this,” Downey, 60, said about Chalamet’s great ambitions. “I am literally twice your age. When I was 30, I was making a movie with Norman Jewison.”
He recalled, “It was called Only You. Me and Marisa Tomei. We were on the Amalfi coast somewhere and I just go to Norman Jewison, you know Moonstruck and all these great movies, I go, ‘Norman, I think I am one of the greats.'”
“I want you to tell me if you agree with that.” the Iron Man lead continued. “He looked at me like I was nuts. He said, ‘Well, Mr. Downey, that remains to be seen.'”
“And I want to say in front of God and everyone in this audience here with you that as of Marty Supreme, it no longer remains to be seen. Let’s hear it for, Timothée Chalamet,” he added.
For the unversed, the 30-year-old French-American actor openly told the industry about wanting to be a great actor during his acceptance speech at the 2025 SAG Awards.
“I can’t downplay the significance of this award, because it means the most to me,” Chalamet said in his acceptance speech after he won best actor for playing Bob Dylan in A Complete Unknown.
“I know we’re in a subjective business, but the truth is, I’m really in pursuit of greatness. I know people don’t usually talk like that, but I want to be one of the greats. I am inspired by the greats,” he added.
It is pertinent to note that Marty Supreme has shattered one record after another since opening over the holidays.
Its latest box office milestone came Tuesday when passing up Leonardo DiCaprio’s rival Oscar contender One Battle After Another to end the day with an estimated cume of $72.27 million, according to A24.
The newly released film Marty Supreme earned Chalamet his first Critics’ Choice and Golden Globe awards, making him a frontrunner for a Best Actor Oscar at the upcoming 98th Academy Awards.
Information Minister Atta Tarar has announced the return of veteran broadcaster Ishrat Fatima to Pakistan Television, where she will serve as a mentor to aspiring newscasters and broadcasters.
The announcement was made during a media interaction at her residence in Islamabad, where the minister appeared alongside the veteran broadcaster. The development comes after Fatima’s retirement, marking the end of her 45-year-long association with Radio Pakistan.
Tarar expressed his gratitude to Fatima for accepting his request to rejoin Pakistan Television as an expert and mentor. He noted that her expertise would be invaluable in training newcomers in the art of news reading and broadcasting under various circumstances.
“She is a seasoned newscaster with an illustrious career,” the minister remarked and added, “Every Pakistani identified her voice as she brings over four and a half decades of experience and service to the nation.”
“Following her retirement from Radio Pakistan, I personally requested her to join PTV to train the next generation and promote the Urdu language. Her return will encourage us all and strengthen PTV as an institution. Throughout her career, she maintained professional integrity without any political associations.”
The minister said there would be a surprise upon her formal return, noting that Pakistan Television is all set to welcome her back.
Speaking to the media, the veteran broadcaster described news reading as her lifelong passion and thanked the minister for honoring her with this responsibility.
Fatima said that she looks forward to teaching the younger generation and contributing to the betterment of the institution. She also urged the government to continue encouraging competent individuals in every field.
The equity market rose on Friday as investors bought the dip pointing to US–Iran de-escalation and a dovish tilt in rate expectations, lifting risk appetite early in the session.
The Pakistan Stock Exchange’s benchmark KSE-100 Index climbed to an intraday high of 184,645.65, gaining 3,189.32 points, 1.76%, from the previous close of 181,456.33, and reached a low of 182,559.69, up 1,103.36 points, or 0.61%.
“The market witnessed a sharp recovery after the latest news flows suggest the de-escalation between the US and Iran,” said Huzaifa Riaz, Director, Mayari Securities (Pvt) Limited.
“Additionally, sentiment around the next monetary policy remains dovish as the latest auction suggests a 50 bps cut, which could further improve a risk-on sentiment,” he added.
Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities, echoed the sentiments, saying: “Bullish activity witnessed in early session at PSX amid reports of US-Iran de-escalation,” adding: “Speculations over further SBP policy easing amid falling government bond yields played a catalyst role in bullish activity at PSX.”
A Topline Research survey ahead of the State Bank of Pakistan (SBP) Monetary Policy Committee meeting on January 26, 2026, showed 80% of participants expect a rate cut.
Of those, 56.4% see 50 bps, 15.4% expect 100 bps, 5% look for 25 bps, and 3% foresee 75 bps, while 20% expect no change. In the previous decision on December 15, 2025, the SBP cut 50 bps.
SBP reserves rose $16 million to $16.072 billion in the week ended January 9, taking total liquid reserves to $21.248 billion (commercial banks $5.177 billion, up $40 million).
The SBP noted ongoing foreign exchange purchases amid a steadier current account supported by remittances; from June 2024 to September 2025, net market purchases totalled $9.7 billion.
The central bank projects the FY26 current account deficit at 0–1% of GDP and sees reserves at $17.8 billion by June 2026 with planned official inflows.
On Thursday, the KSE-100 Index fell 1,113.48 points (0.61%) to 181,456.34 from 182,569.82, after trading between 183,717.54 and 180,783.63.
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