CPEC-II offers major opportunity to revive economy via green growth: PFC

Chief Executive Officer (CEO) of the Pakistan Furniture Council (PFC), Mian Kashif Ashfaq, said on Sunday that the second phase of the China-Pakistan Economic Corridor (CPEC-II) offered Pakistan an excellent opportunity to revive its economy by prioritizing climate change targets and promoting green development.

Chairing a meeting of the PFC Board of Directors, he highlighted that CPEC-II aligns with the goals of the second phase of the Belt and Road Initiative (BRI), commonly referred to as the “Green BRI.”

He stated that the initiative complements the vision of high-quality development and the construction of an ecological civilization. He added that both China and Pakistan would invest in developing high-quality human capital during the second phase to build an innovation and technology base supporting the nation’s green transition. However, Mian Kashif emphasized that Pakistan must formulate concrete and bankable projects to fast-track this green transition under CPEC-II.

Discussing national strategies, he noted that Pakistan’s Climate Prosperity Plan (CPP) was designed to tackle the twin challenges of stagflation and climate vulnerability. The plan aims to transform climate challenges into opportunities for attracting foreign investment and fostering sustainable prosperity. He detailed that the CPP covers a broad range of investment areas, including energy optimization, green economic zones, electric vehicles, climate-resilient agriculture, circular economy development, nature-based solutions, and climate-resilient infrastructure. The PFC chief stressed that enhanced coordination between CPEC-II and the Climate Prosperity Plan would create substantial opportunities for sustainable economic growth. “The synergy between CPEC-II and the CPP will be a win-win proposition for Pakistan, the business community, and the general public,” he concluded.