PM witnesses MoU on $3.48b C-5 nuclear power project

F.P. Report
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday witnessed the signing of a Memorandum of Understanding (MoU) between Pakistan and China for a 1200 MW Chashma Nuclear Power Plant-5 (C-5) worth $3.48 billion here.
President of China National Nuclear Corporation Overseas Ltd (CNOS) and Member Power, Pakistan Atomic Energy Commission (PAEC) Muhammad Saeed Ur Rehman signed the MoU. Speaking on the occasion, Shehbaz Sharif said the nuclear power project was a great step forward towards economic cooperation between the two countries.
The prime minister said decision to start this project had been taken and the main conditions were agreed during previous government of former Prime Minister Nawaz Sharif but the successive government put this project in cold storage. He said keeping view of the higher international inflation, the project cost would have been much higher than that determined in 2017-18 but the Chinese government not only abstained from raising the cost according to the inflation but also gave a discount of around Rs 30 billion.
Vowing to kick start the project without delay, the prime minister said under the difficult economic situation, investment from China in this project to the tune of $3.48 billion sent a clear message that Pakistan was a place where Chinese companies and investors continued to show their trust and faith. “This reflects the famous quote that our friendship is higher than Himalayas, deeper than the deepest ocean, sweeter than sugar and honey, and stronger than iron and steel. He said President Xi Jinping had called this friendship as iron brothers.
He said recently he also inaugurated K-3 nuclear project in Karachi. He said owing to the economic challenges, Pakistan was engaged with the International Monetary Fund (IMF) trying to finalize the 9th review. “Pakistan has met all conditions required by the IMF that has been done three months ago, but there has been inordinate delay”, he said adding that China once again had come to Pakistan’s rescue.
Other than China, he said Pakistan had also great friends such as Saudi Arabia, UAE and Qatar that had been and still supporting the country. However, he said at this critical juncture, Chinese support was outstanding. “We are deeply obliged to President Xi, Chinese leadership, sincere thanks to Finance Minister Ishaq Dar and his team for working hard to strike the agreement with the Chinese counterpart.” He also thanked Planning Minister Ahsan Iqbal and Power Minister Khurram Dastgir who worked diligently in this regard. Especially, he thanked the new military leadership for taking interest in this project. This is a beautiful combination that all political parties and military leadership are on one page,” he added.
He also paid tribute to Nawaz Sharif who, for the first time in 1993 made an agreement with China for a nuclear power project. PM Shehbaz said during the last few months, China also renewed commercial and sovereign loans which reflected unparalleled friendship between the two countries. Federal Minister for Finance Senator Ishaq Dar, Planning Minister Ahsan Iqbal, and Minister for Power Khurram Dastgir, Pang Chunxue chargée d’affaires China, and Shen Yanfeng, Vice President of China National Nuclear Corporation were also present on the occasion.
Meanwhile, the Prime Minister Muhammad Shehbaz Sharif said the incumbent government would utilize all possible resources to upgrade the capacity and performance of the Islamabad Capital Territory Police by extending different facilities.
Addressing a stone laying ceremony of the National Police Hospital at Police Lines, the prime minister appreciated the sacrifices and contributions of the police force. He said the entire nation felt pride over the police force as they were the protectors of the nation and expressed the confidence that the police force would not tolerate any lapse in maintaining law and order.
The prime minister assured to strengthen the skills and capacity of the police force and all the recommendations in that regard would be fulfilled despite economic constraints. On the occasion, the prime minister also unveiled plaques for Dolphin and SPU Headquarters and an educational institute for the families of the police force projects. Minister for Planning Ahsan Iqbal, Minister for Federal Education and Training Rana Tanveer Hussain, Minister for Interior Rana Sanaullah, parliamentarians, ambassadors and a large number of police officers and jawans were present.