ISLAMABAD, Sep 8 (APP): Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Monday said the 14th meeting of the Joint Coordination Committee (JCC) on CPEC projects, would be held on September 26 in Beijing, with a special focus on ensuring the effective implementation of the comprehensive Action Plan (2025–2029) agreed between Pakistan and China during Prime Minister’s recent visit to Beijing.
The first-ever four-year strategy, which the minister described as a ‘solid development,’ aims to deepen strategic cooperation and advance the shared vision of an even closer community in the new era between two time-tested, friendly countries.
“The JCC meeting, scheduled for September 26, 2025, will help advance the agreed Action Plan with more effective decisions and implementation for greater mutual cooperation in the future, taking the friendship to the next level,” he said while launching the Monthly Economic Development Update for September 2025.
During the visit, the minister said, an agreement was also signed with a road-map to move forward in alignment between five corridors of CPEC Phase-II and 5Es of the ‘URAAN Pakistan’ initiative.
Sharing details of the monthly economic development report, the minister said in the first two months of FY2026, the CPI inflation dropped to 3.5% from 10.4% last year, while prices continued to stabilize due to close monitoring of essential items, reflecting effective government policy, administrative action, and relief measures.
He said the FBR tax collection increased by 14.1% to Rs 1,661 billion during two months, up from Rs 1,456 billion last year, with August alone recording a notable rise of 13.5%.
Ahsan Iqbal said the Pakistan Stock Exchange (PSX) stood at 154,277 points on September 5, with market capitalization reaching Rs 18.1 trillion. “This milestone reflects growing investor confidence and improving business sentiment driven by stronger international trade ties,” he added.
He said credit to the agriculture sector grew by 36.9%, reaching Rs 232.2 billion in July 2025, compared to Rs 169.6 billion last year, highlighting stronger support for farmers and rural productivity.
Similarly, credit to the private sector rose by 13% (YoY), from Rs 8.5 trillion in August 2024 to Rs 9.6 trillion in August 2025, indicating increased private sector activity and investment.
On the external front, the minister said, exports during July–August FY2026 increased by 0.7% to $5.11 billion from $5.07 billion last year, while imports rose by 14.2% to $11.1 billion, up from $9.7 billion, primarily driven by increased imports of raw materials and machinery. “This signals an expansion in domestic economic activity,” he added.
During the same period, he said, Rs 150 billion in PSDP funds were authorized, and Rs 46 billion were sanctioned, reflecting steady progress in development project execution within the Rs 1 trillion program. The PSDP expenditure rose by 23.3% to Rs 5.3 billion, compared to Rs 4.3 billion during the same period last year, demonstrating stronger development spending momentum.
In FY2026, he said, the Federal PSDP included 86 foreign-aided projects, supported by an allocation of Rs 229 billion, making up 23% of the overall PSDP.
On the development front, he said the Planning Ministry approved five projects through CDWP in August 2025, while nine major projects were recommended to ECNEC.
“This demonstrates our dedication to accelerating key development initiatives,” he said, adding “The recently approved projects will create around 1,466 direct jobs and 31,530 indirect jobs across various sectors, driven by increased development activity.”
In July 2025, Ahsan Iqbal said the Ministry’s focused on cost rationalization in development projects led to savings of Rs 1.13 billion, highlighting a prudent approach to planning and improved project efficiency.
In August, he said, the Ministry monitored 32 projects, 160% of the target of 20, resulting in notable time and cost savings through proactive oversight.
Among development initiatives, the “URAAN AI Techathon” was launched to harness the potential of start-ups, universities, and youth in creating scalable AI solutions, contributing to the target of building a $1 trillion economy by 2035.
Additionally, he said, the “Pakistan One National Business Plan Competition,” launched under URAAN, aims to engage 10,000 entrepreneurs and support 500 scalable ventures, driving exports and growth in IT, AgriTech, renewable energy, and manufacturing to foster job-creating economic expansion.
Pakistan’s first Economic Census also mapped 7.2 million establishments and 10 million informal enterprises, providing a landmark data-set for evidence-based policy-making, SME formalization, and inclusive growth under the URAAN Pakistan initiative.
Highlighting the country’s climate vulnerability, the minister said the 2025 monsoon floods tragically claimed 907 lives and damaged 671 km of roads, 239 bridges, and significant housing and agricultural infrastructure across Khyber Pakhtunkhwa, Punjab, and Gilgit-Baltistan.
The government, he said, swiftly evacuated 2.35 million people and established 1,744 relief camps to manage the crisis.
Commenting on international engagements, he said iIn August, Pakistan signed the NAVTTC-Hazza Institute of Technology Skills Pact in Beijing to expand training in AI, robotics, and renewable energy, creating over 1,000 jobs under CPEC.
The minister also held a series of high-level meetings with Chinese leadership, including the Vice Foreign Minister, to reaffirm a people-centric CPEC Phase II and align it with the URAAN Pakistan 5Es framework for industrial and labor development.
He also discussed advancing cooperation in economic reforms, nuclear energy, space, and Pakistan’s astronaut and lunar missions, emphasizing the growing strategic and technological partnership between two countries.