Prime Minister Shehbaz Sharif on Friday broke ground of the 1200-megawatt Chashma-5 nuclear power plant in Mianwali to meet clean, efficient and affordable energy requirement for the country.
The event was attended by Chinese officials, ministers, and dignitaries.
Addressing the inauguration ceremony, Prime Minister Shehbaz Sharif hailed the Chashma-5 nuclear energy project as a remarkable milestone and a “symbol of strong cooperation between two great friends”.
He emphasized that this mutual cooperation aimed at promoting clean, efficient, and affordable energy, setting an exemplary model for other nations to follow.
Responding to the rumors propagated by the opposition, the Prime Minister refuted claims of Pakistan’s impending default on sovereign payments or an economic crisis, stating that the risk of potential default has been completely averted through relentless efforts from all components of the government and institutions.
He highlighted the recent approval of the International Monetary Fund (IMF) program and the inflows of $4.2 billion into the State Bank of Pakistan, including $1.2 billion from the IMF as the first tranche of its $3 billion program, as well as contributions from Saudi Arabia and the United Arab Emirates.
Prime Minister Shehbaz Sharif stressed the significance of the Chashma-5 project in meeting Pakistan’s clean and affordable energy requirements.
He urged for the completion of the project ahead of schedule.
He also mentioned the revival of the China Pakistan Economic Corridor (CPEC), giving credit to the coalition government and the SPD for their dedicated efforts in concluding the agreement.
Reflecting on recent financial support, he expressed gratitude to Chinese President Xi Jinping, Saudi Crown Prince Mohammad bin Salman, and UAE President Mohamed bin Zayed Al Nahyan for their assistance during Pakistan’s time of need.
The Prime Minister disclosed that the Chinese government and commercial banks had rolled over $5 billion in loans to Pakistan approximately four months ago.
Highlighting the cost-effectiveness of the project, Prime Minister Shehbaz Sharif acknowledged the Chinese company for maintaining the project cost as agreed upon in 2017-18 by the previous PML-N government, without incorporating the average inflation rate of around 10%.
He also mentioned that Pakistan received a discount of Rs 30 billion upon his request, which reflected the sincere cooperation between the two countries.
Charge D’affaires of the Chinese embassy in Pakistan, Pang Chunxue, commended the Chashma-5 project for its contribution to Pakistan’s development, emphasizing the creation of local jobs and engagement of local industries in the production of low-carbon, clean, and affordable energy.
