In a recent development, Pakistan signed a $4.8 billion deal with China for a 1,200 MW nuclear power project.
Work on the Chashma 5 project would begin immediately following the signing of the memorandum of understanding (MOU) between the Pakistan Atomic Energy Commission and the China National Nuclear Cooperation.
Despite rising inflation, the Chinese government did not raise the cost of the project and instead offered a discount of around Rs30 billion.
IMF Out, China to the Rescue!
Prime Minister Shehbaz Sharif lauded China for their timely support as Pakistan awaits aid from IMF.
The President of China National Nuclear Corporation Overseas Ltd and Member Power and Pakistan Atomic Energy Commission (PAEC), Muhammad Saeed ur Rehman, had signed the MoU.
The event was attended by Federal Minister for Finance Ishaq Dar, Minister for Power Khurram Dastgir, Planning Minister Ahsan Iqbal, Pang Chunxue, Vice President of China National Nuclear Corporation, Chargé D’affaires of China and Shen Yanfeng, along with other key members.
Expressing his joy, PM Shehbaz Sharif stated that the nuclear power project was a great step forward towards economic cooperation between Pakistan and China.
In the last months, China renewed multiple loans for Pakistan, indicating its firm determination to support Pakistan.
Pak-China Friendship, Stronger than Iron
PM Sharif showed his gratefulness to China by stating that the Pak China Friendship is deeper than the deepest ocean, stronger than iron and steel, and sweeter than sugar and honey.
Sharif reiterated, that the President of China Xi Jinping, had called this friendship that of the iron brothers.
Inaugurating the K-3 Project in Karachi
Earlier, PM Shehbaz had inaugurated the K-3 Nuclear Project in Karachi and thanked the new military leadership for their interest.
He was pleased to see the political parties and the military on the same page and hoped to see such unity in the future.
