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PM Shehbaz inaugurates $3.48bn Chashma-5 nuclear power plant
Government's collective efforts had entirely eliminated the possibility of default, says PM Shehbaz.
Islamabad: Prime Minister Shehbaz Sharif inaugurated 1200 MW Chashma Nuclear Power Plant Unit 5 (C-5) in Mianwali on Friday.
The project would help Pakistan in promoting clean, effective, and relatively inexpensive energy, the premier stated while speaking at a ceremony held today at Chashma.
“Our detractors had been fabricating rumours all around that Pakistan was going to default on its sovereign commitments but we crossed all turbulent waters in just 15 months,” he added.
He said that the government's collective efforts had entirely eliminated the possibility of default.
According to the prime minister, the International Monetary Fund (IMF) program was approved a few days ago, and within 48 hours, Pakistan's friendly neighbors Saudi Arabia and the United Arab Emirates sent around $4.5 billion in addition to an additional $1.2 billion from the IMF.
He claimed that about four months ago, the Chinese government and commercial institutions turned over $5 billion to Pakistan.
PM Shehbaz presented tribute to UAE President Mohamed bin Zayed Al Nahyan, Saudi Crown Prince Mohammad bin Salman, and Chinese President XI Jinping for their assistance during a time of need.
He stated that the Chinese business retained the project's cost at the level decided upon in 2017–18 by the PML–N government and did not add the average inflation of roughly 10% in the project cost as a consequence of the coalition government's and his sincere efforts. Additionally, he said that a discount of Rs 30 billion was offered to Pakistan at his request, reflecting a sense of honesty between the two nations.
In a speech at the event, Charge D'affaires of the Chinese embassy in Pakistan, Pang Chunxue, claimed that the Chashma-5 nuclear power station will aid Pakistan in developing low-carbon, clean, and affordable energy that would also create local employment and include local companies in the project.
According to Yu Jianfeng, chairman of China's National Nuclear Cooperation, nuclear energy cooperation between China and Pakistan has become a crucial component of their all-weather strategic cooperative relationship.
He said the Chashma-5 nuclear power plant project was a signigicant milestone in the HPR 1000 development global journey. Hualong One (HPR 1000) is the 3rd-generation nuclear power brand to which China has exclusive intellectual property rights.
The ceremony was attended by Planning Minister Ahsan Iqbal, Energy Minister Khurram Dastgir Khan, and Chairman PAEC Dr Raja Ali Raza.