Pakistan’s Prime Minister unveiled a $3.5 billion
Prime Minister Shehbaz Sharif inaugurated a new 1200-megawatt nuclear power facility in Punjab province, promoting Pakistan-China economic cooperation. The Chashma-V power plant is being built under a USD 3.5 billion agreement struck with China.
The Chashma-5 nuclear power facility, according to Prime Minister Sharif, is a “huge milestone” and a “testament to the friendship” between Pakistan and China.
The Chashma-5 nuclear energy project, he said, was a “wonderful symbol of cooperation” between two “great friends.”
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“This mutual cooperation to promote clean, efficient, and comparatively cheaper energy is a gift of friendship between the two countries and a model for other countries to emulate,” Pakistani Prime Minister Nawaz Sharif remarked.
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Pakistan’s Prime Minister went on to explain that the country’s industrial and agricultural sectors have long needed cheaper and more efficient energy sources. Notably, the all-weather friends’ new power plant partnership aims to solve such problems while also contributing to the growth of Pakistan’s energy infrastructure.
China’s assistance
Prime Minister Sharif commended China for its continuous support, emphasising the critical role that the two nations’ long-standing partnership plays.
“Unless we mention the role of our great and most trusted friend China, the story will remain incomplete,” he remarked. The Chashma power stations, particularly the recently launched Chashma-5, are critical to Pakistan’s ability to generate economical nuclear energy. According to media estimates, the existing four power plants have a total installed capacity of 1,330 megawatts, according to the Pakistan Atomic Energy Commission.
In addition to these, two other nuclear power plants, Karachi Nuclear Power Plants (KANUPP 2 & 3), are already operational with a capacity of 2,290 megawatts.
During the event, Prime Minister Sharif also acknowledged the assistance provided by China in addressing Pakistan’s economic difficulties. He mentioned the successful deal with the International Monetary Fund (IMF), which helped Pakistan avoid the risk of default.
China’s support played a crucial role in stabilizing the economy, he said over the roll over of more than USD 5 billion to Pakistan in the past four months.
