In a move highlighting the strengthening economic cooperation between Pakistan and China, Prime Minister Shehbaz Sharif launched a new 1200-megawatt nuclear power plant in Punjab province. The power plant, known as Chashma-V, is being constructed under a USD 3.5 billion agreement signed with China.
Prime Minister Sharif stressed that the Chashma-5 nuclear power plant represents a “huge milestone” and a “testament to the friendship” between Pakistan and China.
He termed the Chashma-5 nuclear energy project a “wonderful symbol of cooperation” between two “great friends”.
“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,” the Pakistani PM added.
Improved energy infrastructure for Pakistan
The completion of the Chashma-5 nuclear power plant, expected within the next seven to eight years, is set to greatly benefit the people of Pakistan, Sharif said.
Pakistan’s PM continued by saying that the country’s industrial and agricultural sectors have long been in need of cheaper and more efficient energy sources. Notably, the new power plant collaboration between the all-weather friends aim to address those concerns and contribute to the development of Pakistan’s energy infrastructure.
China’s support
Prime Minister Sharif thanked China for its unwavering support, underscoring the indispensable role played by the long-standing friendship between the two countries.
“Unless we mention the role of our great and most trusted friend China, the story will remain incomplete,” he said.
The Chashma power plants, including the newly launched Chashma-5, are crucial for generating affordable nuclear power in Pakistan. The existing four power plants have a combined installed capacity of 1,330 megawatts, according to the Pakistan Atomic Energy Commission, media reports said.
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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.
“This is not a small contribution by a great friend at a time which was one of the most difficult times Pakistan was facing,” he said.
