In 2025, the project entered a new phase known as "CPEC 2.0". The focus has now shifted from large megaprojects to areas such as industrial zones, agriculture, and extractive industries. This reorientation is related not only to financial constraints and the realities of infrastructure construction but also to management and coordination issues, which negatively affect the pace of implementation.
For example, the significant railway project Main Line-1, costing $6.7 billion, which was initially considered the cornerstone of CPEC, has been partially revised, and its funding is being provided through the Asian Development Bank. This demonstrates that even large-scale strategic initiatives face serious financial and organizational obstacles.
Out of 90 planned projects, 38 have been completed to date, 23 are under construction, and about a third are still in the initial stages. Operations at the Gwadar port and the local airport are limited, highlighting the mismatch between high ambitions and actual results.
CPEC has also significantly increased Pakistan's external debts to China, amounting to about $30 billion, which constitutes approximately 30% of the country's external debt. High interest rates and funding in foreign currency have created serious debt pressure, making the successful implementation of projects vulnerable to economic and political risks.
Moreover, the project faces challenges related to security and public perception. In Balochistan, local communities are demanding a more balanced approach that considers the interests of citizens alongside major investment goals.
Of the nine special economic zones (SEZ), only three are showing active development; the others are still in the planning or discussion stages. This indicates institutional complexities and the need for more coordinated actions to achieve previously stated goals.
Additionally, CPEC has a negative impact on the environment: the increase in resource consumption and emissions requires stricter control and the implementation of sustainable solutions; otherwise, the risks to ecosystems could become significant.
The project is also evolving against the backdrop of changes in international relations. New partnerships create opportunities for diversifying investments but simultaneously reveal the vulnerability of a model dependent on a single key partner.
CPEC 2.0 demonstrates that even ambitious initiatives require flexibility, careful management, and consideration of real economic, institutional, and social conditions. While the project retains strategic significance, its implementation faces serious challenges, necessitating the adaptation of plans and highlighting the importance of a strategic approach and balanced risk distribution.
