Canada Global (Web News) The Memorandum of Understanding (MoU) for the 1200 Megawatt Chashma-V Nuclear Power Plant was signed on Tuesday, according to Prime Minister Shehbaz Sharif, and it represents a significant advance in Pakistan and China’s economic cooperation.
Speaking at the MoU signing event in the federal capital, he promised that the project will begin right away.
He said that despite its challenging economic circumstances, Pakistan was ready for a $4.8 billion investment from China in this project, sending a signal that Pakistan is a country in which Chinese businesses and investors continue to deposit their faith and trust.
In order to carry out this project, he said that Chinese businesses made huge concessions totaling Rs. 30 billion to Pakistan in two parts.
He said that the bordering nation came to Pakistan’s rescue when the latter was experiencing severe economic difficulties and negotiations with the IMF to complete the 9th review for the resumption of the loan programme were ongoing.
In addition, Mr. Sharif praised the great brotherly nations of Saudi Arabia, the United Arab Emirates, and Qatar for their assistance to Pakistan.
The PM stated, “We are extremely grateful to President XI Jinping and the Chinese leadership for their kind assistance to Pakistan”.
Along with praising the military leadership, he also recognised the contributions made to this initiative by Finance Minister Ishaq Dar and other ministries.
The endeavour, according to the prime minister, is evidence that civil and military leadership are on the same page. I would want to pay thanks to Nawaz Sharif as he was the one who initially signed the nuclear power plant project in 1990, the man remarked. Additionally, he commended the Chinese corporation for holding off on raising the project’s cost despite the passage of six years.
The event was attended by the Chinese Charge d’Affaires Ms Pang Chunxue, a representative of Chinese businesses, the Minister for Energy Khurram Dastgir, the Minister for Planning and Development Ahsan Iqbal, and other senior officials from Pakistan and China.