Pakistan’s Prime Minister, Shehbaz Sharif, inaugurated a new 1200-megawatt nuclear power plant in Punjab province, showcasing the deepening economic cooperation between Pakistan and China. Known as Chashma-V, the power plant is being constructed under a USD 3.5 billion agreement signed with China.
Prime Minister Sharif emphasized that the Chashma-5 nuclear power plant is a significant milestone and a testament to the strong friendship between Pakistan and China. He described it as a wonderful symbol of cooperation between the two nations.
The Pakistani PM regarded the mutual cooperation in promoting clean, efficient, and cost-effective energy as a gift of friendship and a model for other countries. The completion of the Chashma-5 nuclear power plant within the next seven to eight years is expected to greatly benefit the people of Pakistan, particularly the industrial and agricultural sectors that require affordable and efficient energy sources.
Sharif expressed gratitude to China for its unwavering support and highlighted the indispensable role played by the enduring friendship between the two countries. He acknowledged China’s contribution to stabilizing Pakistan’s economy, mentioning the successful deal with the International Monetary Fund (IMF) that helped Pakistan avoid the risk of default.
The Chashma power plants, including the newly launched Chashma-5, play a crucial role in generating affordable nuclear power in Pakistan. The existing four power plants have a combined installed capacity of 1,330 megawatts, and two other nuclear power plants, the Karachi Nuclear Power Plants (KANUPP 2 & 3), are already operational with a capacity of 2,290 megawatts.
Prime Minister Sharif recognized China’s support in addressing Pakistan’s economic difficulties, including the roll-over of over USD 5 billion in the past four months. He acknowledged that this contribution came at a critical time when Pakistan was facing significant challenges.
Pakistan has been grappling with an ailing economy for years, leading to high inflation and severe financial burdens on its impoverished population.
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