PM Shehbaz breaks ground on Chashma-5 nuclear power plant

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Friday broke ground on the 1200 MW Chashma Nuclear Power Plant Unit 5 (C-5) in Mianwali.

Addressing a ceremony here at Chashma, the prime minister said the project would help the country promote clean, efficient and comparatively cheaper energy.

“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 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 4 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 need of hour.

He informed that as a result of serious efforts by the coalition government and himself, the Chinese company kept the cost of the project at the level agreed upon in 2017-18 by the PML-N government and did not include the average inflation of around 10% in the project cost. Further, he said on his request, a discount of Rs 30 billion was also given to Pakistan which reflected a sense of sincerity between the two countries.

Speaking on the occasion, Charge D’affaires of the Chinese embassy in Pakistan, Pang Chunxue said Chashma-5 nuclear power plant would help Pakistan building low-carbon, clean and cheap energy which would also produce local jobs and would engage the local industries to contribute in 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 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.

With additional input from APP.