In a significant development for economic cooperation between Pakistan and China, Prime Minister Shehbaz Sharif announced the signing of a Memorandum of Understanding (MoU) for the construction of the 1,200 Megawatt Chashma-V Nuclear Power Plant with the Chinese Company. The ceremony, held in Islamabad on Tuesday, marked a major step forward in strengthening the ties between the two nations.
Kick-starting the Project
During the signing ceremony, Prime Minister Shehbaz Sharif expressed his enthusiasm for initiating the Chashma-V Nuclear Power Plant project without any further delay. He highlighted the project’s potential to address Pakistan’s energy needs and contribute to the country’s economic growth.
Chinese Investment in Challenging Times
The Prime Minister emphasized the significance of Chinese investment in the project, especially in light of Pakistan’s challenging economic situation. He stated that despite the economic difficulties, China has once again shown its trust and faith in Pakistan by committing an investment of 4.8 billion dollars. This investment sends a strong message to the international community that Pakistan remains an attractive destination for Chinese companies and investors.
Generous Concession by Chinese Companies
Prime Minister Shehbaz Sharif also revealed that Chinese companies involved in the project have provided a concession of Rs30 billion to Pakistan. This concession will be implemented in two phases, demonstrating China’s commitment to supporting Pakistan during challenging times.
China’s Assistance amidst Economic Challenges
The Prime Minister acknowledged the economic challenges faced by Pakistan, including ongoing discussions with the International Monetary Fund (IMF) for the finalization of the 9th Review. Despite these challenges, China has extended its support to Pakistan, providing much-needed assistance and reinforcing the strong bilateral relationship between the two countries.
Gratitude to Brotherly Nations
Prime Minister Shehbaz Sharif extended his gratitude to brotherly countries such as Saudi Arabia, the United Arab Emirates, and Qatar for their continued support to Pakistan. Their assistance has played a crucial role in enhancing Pakistan’s economic stability and development.
Acknowledgment to Chinese Leadership
The Prime Minister expressed deep gratitude to President Xi Jinping and the Chinese leadership for their generous help to Pakistan. This support further strengthens the bond between Pakistan and China and paves the way for greater collaboration in various sectors, including energy and infrastructure development.
Presence of Dignitaries
The signing ceremony was attended by several high-ranking officials, including Finance Minister Mohammad Ishaq Dar, Minister for Energy Khurram Dastgir, Minister for Planning and Development Ahsan Iqbal, and the Chinese Charge d’affaires Ms. Pang Chunxue, along with representatives from Chinese companies. The presence of these dignitaries highlights the significance and importance of the Chashma-V Nuclear Power Plant project for both Pakistan and China.
Long-standing Partnership between Pakistan and China
Pakistan and China have enjoyed a long-standing partnership in various sectors, including energy, infrastructure, and trade. The Chashma-V Nuclear Power Plant project is another testament to the strong bilateral ties between the two nations. Over the years, China has played a vital role in supporting Pakistan’s economic development through strategic investments and collaborations. The generous concession provided by Chinese companies further solidifies this partnership and showcases China’s commitment to Pakistan’s progress.
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The signing of the MoU for the construction of the Chashma-V Nuclear Power Plant marks a crucial milestone in the economic cooperation between Pakistan and China. With Chinese companies providing a substantial concession of Rs30 billion, this project demonstrates China’s unwavering commitment to supporting Pakistan’s economic growth and development. Prime Minister Shehbaz Sharif expressed gratitude to China, as well as other brotherly nations, for their continued support and emphasized the importance of this project in addressing Pakistan’s energy needs. This collaboration between Pakistan and China sets the stage for further cooperation and mutually beneficial endeavors in the future.
