Prime Minister Shahbaz Sharif on Friday hailed the commissioning of the 1,200 MW Chashma Nuclear Power Plant Unit 5 (C-5) at Mianwali as a “huge milestone” and a symbol of cooperation between China and Pakistan.
The Prime Minister’s remarks came during the groundbreaking ceremony of the plant, which is expected to be completed in seven to eight years at a cost of around $3.48 billion.
The Prime Minister witnessed the signing of a Memorandum of Understanding on the C-5 project between Pakistan Atomic Energy Commission (PAEC) and China National Nuclear Corporation Overseas Limited (CNOS) last month.
Addressing the foundation stone ceremony at Chashma, Prime Minister Shehbaz hoped that the project would be completed ahead of schedule keeping in mind the country’s needs for clean and cheap energy sources.
Describing the plant as a major milestone and a symbol of cooperation between the two great friends, the Prime Minister said the project would help the country develop clean, efficient and relatively cheap energy.
He said that after a gap of many years, the China Pakistan Economic Corridor (CPEC) is again gaining momentum. He credited the coalition government and the SPD for brokering the deal.
“Our adversaries were everywhere creating rumors that Pakistan was going to renege on its sovereign commitments but we crossed all the turbulent waters in just 15 months,” he added.
However, he said that the risk of possible default has been completely averted by the efforts of the government’s team.
The Prime Minister said that the International Monetary Fund (IMF) program was approved a few days ago and within 48 hours, about $4.5 billion was transferred from Pakistan’s brother countries Saudi Arabia and the United Arab Emirates. In addition, another $1.2 billion was transferred from the IMF. .
About four months ago, he said, the Chinese government and commercial banks repatriated $5 billion to Pakistan.
He paid tribute to Chinese President Xi Jinping, Saudi Crown Prince Mohammed bin Salman and UAE President Mohammed bin Zayed Al Nahyan for their help in the hour of need.
He said that due to the serious efforts of the coalition government and himself, the Chinese company kept the cost of the project at the level agreed by the then PML-N government in 2017-18 and it averaged Rs. Percentage inflation was not included. project cost.
Further, he said on his request that Rs 30 billion concession has also been given to Pakistan, which reflects the sense of sincerity between the two countries.
Peng Chunxu, Charge d’Affaires of the Chinese Embassy in Pakistan, said that C5 will help Pakistan create low-carbon, clean and affordable energy, which will also create local jobs and attract local industries to contribute to the project. will be done
China National Nuclear Cooperation Chairman Yu Jianfeng said that cooperation between Pakistan and China in the field of nuclear energy has become an integral part of the all-weather strategic cooperative partnership.
He said that the C5 project is an important milestone in the HPR 1,000 development global journey. Hualong One (HPR 1000) is a third-generation nuclear power brand for which China has exclusive intellectual property rights.
Planning Minister Ahsan Iqbal, Energy Minister Khurram Dastgir Khan and PAEC Chairman Dr. Raja Ali Raza were also present on the occasion.
