The work on the 1,200 megawatt (MW) Chashma Nuclear Power Plant Unit 5 (C-5) kicked off on Friday, with a formal groundbreaking ceremony performed by Prime Minister Shehbaz Sharif.
Addressing the ceremony, Shehbaz said that the risk of Pakistan’s potential default had been averted after the efforts of the government's economic team, adding that the country had crossed the turbulent waters in just 15 months.
Terming C-5 groundbreaking a huge milestone and a symbol of cooperation between China and Pakistan, Shehbaz said the project would help the country promote clean, efficient and comparatively cheaper energy.
On June 30, Shehbaz witnessed the signing of a memorandum of understanding (MoU) for the C-5 project between the China National Nuclear Corporation Overseas Ltd (CNOS) and the Pakistan Atomic Energy Commission (PAEC).
At that ceremony, the prime minister had promised that the work on the C-5 project would begin immediately, saying that it would help Pakistan make the transition away from its reliance on the fossil fuels.
“Our detractors had been fabricating rumours all around that Pakistan was going to default on its sovereign commitments but we crossed all turbulent waters in just 15 months,” Shehbaz told the groundbreaking ceremony.
He reminded the audience that the International Monetary Fund (IMF) had approved a new programme earlier this week and the first tranche of $1.2 billion had been received from the global lender.
Besides, this week, the State Bank of Pakistan (SBP) had received $3 billion from Pakistan’s brotherly countries, Saudi Arabia and the United Arab Emirates (UAE), while China rolled over $5 billion loans a few months ago.
“The risk of potential default has been completely averted through team effort of the government,” the prime minister declared. He also expressed joy that the China-Pakistan Economic Corridor (CPEC) was flourishing again in full swing.
He said that as a result of serious efforts by the government, the Chinese company kept the cost of the C-5 project at the level agreed upon in 2017-18 by then Pakistan Muslim League-Nawaz (PML-N) government.
Furthermore, the prime minister said, on his request, a discount of Rs30 billion was also given to Pakistan, which reflected a sense of sincerity between the two friendly countries.
The Chashma Nuclear Power Plant will generate 1,200MW of electricity. The project is expected to be completed in seven to eight years at a cost of around $3.48 billion.
Shehbaz said that the C-5 project was a continuation of the affordable energy policy. He added that the project would be environment-friendly and it had been declared ‘safe project’ by the International Atomic Energy Agency (IAEA).
On the occasion, China’s Charge d’Affaires Pang Chunxue said that C-5 would help Pakistan build low-carbon, clean and cheap energy which would also produce jobs and engage the local industries to contribute to the project.
Chairman of China National Nuclear Cooperation Yu Jianfeng said that the cooperation between Pakistan and China in nuclear energy had become an integral part of the all-weather strategic cooperative partnership.
Meanwhile, addressing the foundation stone laying ceremony of the central campus of National University of Technology (NUTECH), Shehbaz stressed the need for promoting the skilled-based vocational training.
Pledging to make the vocational education the government’s number-one priority, the prime minister said that skilled human resource earned more than the raw labour, hence increasing the country’s foreign remittances.
He said that the government was promoting the skilled-based vocational training to expand foreign remittances that would ultimately help improve the current account deficit of the country.
“Vocational training is the key to prosperity and development in today’s era. Nations get prosperous only at the back of these skilled-based people,” he said. He hoped the new campus play key role in technical education.
Shehbaz said that only one month had left for this government and he was still making efforts to provide maximum relief to the people. He also distributed certificates among the high achievers in various fields.
Education Minister Rana Tanvir Hussain said that the coalition government brought the country out of deep crisis and set it on the right path. Therefore, he hoped that the people would vote for the PML-N in the next election.
Special Assistant to Prime Minister on Youth Affairs Shaza Fatima said vocational education was as important as it was a form of formal education in the country.
(WITH INPUT FROM APP)
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