Connect with us

Politics

PM breaks ground on $3.48bn Chashma Nuclear Power Plant Unit-5

Published

1 year ago

on

  • Project to be complete within seven to eight years.
  • PM Shehbaz Sharif terms project huge milestone.
  • “Risk of potential default has been completely averted.”

Prime Minister Shehbaz Sharif Friday broke ground on the 1,200 MW Chashma Nuclear Power Plant Unit 5 (C-5) in Mianwali, which is likely to be completed in seven to eight years at a cost of around $3.48 billion.

On June 30, 2023, the prime minister witnessed the signing of the Memorandum of Understanding (MoU) on the C-5 project between China National Nuclear Corporation Overseas Ltd (CNOS) and the Pakistan Atomic Energy Commission (PAEC).

Addressing the ground-breaking ceremony at Chashma, the prime minister said the project should be completed before the given schedule keeping in mind the country’s requirements for clean and cheap energy sources.

Terming it a huge milestone and a symbol of cooperation between the two great friends — China and Pakistan — Shehbaz said the project would help the country promote clean, efficient and comparatively cheaper energy.

He said after a pause of many years, the China-Pakistan Economic Corridor (CPEC) was going again in full swing. He gave the credit of concluding the agreement of C-5 to the coalition government and the SPD for their hard efforts.

“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.

However, he said the risk of potential default had been completely averted through the team effort of the government.

The prime minister said a couple of days ago, there was an approval of the International Monetary Fund (IMF) programme, and within 48 hours, around $4.5 billion were transferred by Pakistan’s brotherly countries Saudi Arabia and UAE, besides another $1.2 billion from the IMF.

About four months ago, he said the Chinese government and commercial banks rolled over amounts back to Pakistan to the tune of $5 billion.

He paid his tributes to Chinese President XI Jinping, Saudi Crown Prince Mohammad bin Salman, and UAE President Mohamed bin Zayed Al Nahyan for their support in the hour of need.

He informed that due to serious efforts by the coalition government and himself, the Chinese company kept the project cost at the level agreed upon in 2017-18 by the then-PML-N government and did not include the average inflation of around 10% in the project cost.

Further, he said on his request that a discount of Rs30 billion was also given to Pakistan, reflecting a sense of sincerity between the two countries.

Charge D’affaires of the Chinese embassy in Pakistan, Pang Chunxue, said C5 would help Pakistan build low-carbon, clean, and cheap energy, which would also produce local jobs and engage the local industries to contribute to the project.

Chairman of China National Nuclear Cooperation Yu Jianfeng said cooperation between Pakistan and China in nuclear energy had become an integral part of the all-weather strategic cooperative partnership.

He said the C5 project was a significant milestone in the HPR 1,000 development global journey. Hualong One (HPR 1000) is the 3rd-generation nuclear power brand to which China has exclusive intellectual property rights.

Planning Minister Ahsan Iqbal, Energy Minister Khurram Dastgir Khan, and Chairman PAEC Dr Raja Ali Raza were also present on the occasion.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

On Friday, PTI calls for nationwide protests.

Published

21 hours ago

on

By

PTI called for a nationwide walkout on Friday (tomorrow) in opposition to the proposed constitutional amendment package, citing its founder Imran Khan’s incarceration as unfair treatment, and demanding access to the jailed leader for attorneys, PTI leaders, and supporters.

Within a meeting, the PTI’s leaders resolved to stage a nationwide protest, the party claimed in a statement released on Wednesday.

In both houses of the parliament, every effort was decided to be made to obstruct the path of modification, according to the statement.

As well as advocate Intizar Hussain Panjotha, Azam Swati, and all other jailed leaders, activists, and members of parliament—including the president of Tehreek-e-Insaf Balochistan—the party’s political committee demanded their release. Aleema and Uzma Khanum are the sisters of PTI founder Imran Khan.

The PTI requested that following Friday prayers, regional organizations stage a nonviolent demonstration at district headquarters.

It argued that the constitutional change is an unacceptable attempt by the administration to distort the Constitution.

In a statement, it was stated that Imran Khan’s release was sought and that both chambers of parliament had decided to do all within their power to obstruct the amendment.

Continue Reading

Latest News

The National Assembly is expected to assemble on October 18 to approve proposed constitutional modifications.

Published

2 days ago

on

By

It is anticipated that the National Assembly will meet on October 18 or 19 to ratify the proposed 26th constitutional amendment.

The National Assembly Secretariat has reportedly been instructed to get ready for the important gathering, according to sources.

The Pakistan Tehreek-e-Insaf (PTI) has expressed strong opposition to the proposal, which seeks to overhaul the judiciary. The government coalition is pushing through its legislative agenda in spite of this opposition.

In the 342-member National Assembly, the constitutional modification bill needs 224 votes, or a two-thirds majority, to be approved. But with only 215 members, the ruling coalition is now not strong enough to form a majority.

111 members of the Pakistan Muslim League-Nawaz (PML-N), 70 members of the Pakistan Peoples Party (PPP), 22 members of the Muttahida Qaumi Movement (MQM), five members of the Pakistan Muslim League-Quaid (PML-Q), and smaller numbers from other affiliated parties like the National Party, the Balochistan Awami Party (BAP), and the Pakistan Muslim League-Zia make up the breakdown.

Political analysts speculate that the recent verdict by the Supreme Court on Article 63-A, which permits the votes of dissident members, may be crucial in obtaining the necessary majority given the size of the ruling coalition.

To get their support for the amendment, the administration might try to influence PTI-aligned lawmakers.

Maulana Fazlur Rehman, the head of Jamiat Ulema-e-Islam-Fazl (JUI-F), has become a crucial player in this political equation. The backing of his party may be essential to guaranteeing the bill’s passing.

Maulana Fazlur Rehman announced yesterday that the constitutional amendment draft has been agreed upon. In an effort to strengthen his party’s position, he is scheduled to meet with PML-N leader Nawaz Sharif tomorrow and PPP Chairman Bilawal Bhutto Zardari today.

Continue Reading

Latest News

C’MAN PPP Addresses Ceremony In Karachi: Following The Impact Of Climate Change, The Agriculture Sector Needs To Be Regulated

Published

3 days ago

on

By

Amid the consequences of climate change, the agriculture industry need regulation, according to Pakistan Peoples Party Chairman Bilawal Bhutto Zardari.

According to Bilawal Bhutto, agriculture is the backbone of the nation, as she stated during a ceremony in Karachi.

He claimed that during his first tenure in office, President Asif Ali Zardari moved historic measures to ensure the prosperity of farmers in the nation and supported small-scale farming.

According to Bilawal, the rights of the nation’s farmers and laborers have always been upheld by Shaheed Benazir Bhutto.

He emphasized that the Pakistan People’s Party has consistently supported the rights of the poor and that Shaheed Benazir Bhutto made courageous choices to defend the rights of farmers.

Continue Reading

Trending