Islamabad, 20 June, 2023(GNP): A memorandum of understanding (MoU) is signed for the construction of the Chashma-5 nuclear power plant project worth $3.48 billion. The project signifies an important development in economic cooperation between China and Pakistan.
Prime Minister Shehbaz Sharif addressed a ceremony for the signing of an agreement for Unit 5 of Chashma Nuclear Power Plant (C-5) in Islamabad today. pic.twitter.com/KJLYqf2Vni
— Government of Pakistan (@GovtofPakistan) June 20, 2023
China’s investment of $3.48 billion is a positive step for Pakistan’s economic recovery, says Prime Minister Shehbaz Sharif.
In his remarks at the signing ceremony on Tuesday morning in Islamabad, the prime minister hailed the completion of the 1,200-megawatt project as a tremendous economic achievement and a turning point for both China and Pakistan.
Also, he claimed that the agreement would increase trade between Pakistan and China.
The signing of the agreement between China National Nuclear Corporation Overseas Ltd and the Pakistan Atomic Energy Commission for the construction of the Chashma-5 nuclear plant marks a milestone in bilateral relations.
The project, which had been put on hold by the previous government, will soon be initiated with a discounted cost of 30 billion rupees.
Expressing his gratitude to China for their timely help and rescue, PM Shehbaz said that China’s support comes at a crucial time when Pakistan is facing economic challenges and experiencing delays in obtaining loans from the IMF.
Furthermore, China’s continuous support and friendship with Pakistan are evident through its renewal of loans and unwavering commitment. This longstanding partnership reflects China’s reliability and willingness to assist Pakistan in times of need.