Pak-China Sign $3.48 Billion MoU
Pak-China Sign $3.48 Billion MoU for Nuclear Power Project. Pakistan and China Sign $3.48 Billion MoU for Nuclear Power Project. In a significant development, Pakistan and China have signed a Memorandum of Understanding (MoU) for a 1200 MW Chashma Nuclear Power Plant-5 (C-5) worth $3.48 billion.
The signing ceremony was attended by Prime Minister Shehbaz Sharif and representatives from both countries.
This article provides an overview of the event, highlighting the importance of the project for economic cooperation and expressing gratitude for Chinese support.
Strengthening Economic Cooperation
Prime Minister Shehbaz Sharif expressed his satisfaction with the signing of the MoU, emphasizing its significance for advancing economic cooperation between Pakistan and China. He noted that the decision to initiate the project had been made during the previous government’s tenure, but it had been put on hold by subsequent administrations.
Chinese Support and Economic Benefits
Despite the challenges posed by international inflation, Shehbaz Sharif acknowledged the Chinese government’s support by not only maintaining the project’s cost according to the 2017-18 estimates but also offering a discount of approximately Rs 30 billion. He highlighted that the Chinese investment of $3.48 billion during these challenging economic times sent a strong message about the trust and faith Chinese companies and investors had in Pakistan.
The prime minister praised the enduring friendship between Pakistan and China, quoting the famous phrase that describes their bond as higher than Himalayas, deeper than the deepest ocean, sweeter than sugar and honey, and stronger than iron and steel. He also mentioned President Xi Jinping’s reference to this friendship as that of “iron brothers.”
Pakistan, China sign $3.48bn nuclear power project MoU
Gratitude for Chinese Support
Shehbaz Sharif expressed his deep gratitude to President Xi Jinping, the Chinese leadership, and Finance Minister Ishaq Dar and his team for their efforts in reaching the agreement. He acknowledged the contributions of Planning Minister Ahsan Iqbal and Power Minister Khurram Dastgir, as well as the interest shown by the new military leadership in the project. He emphasized the unity and collaboration among political parties and the military leadership in this endeavor.
Continued Support and Friendship
The prime minister highlighted the ongoing support from other friendly nations such as Saudi Arabia, UAE, and Qatar, but noted that China’s support during this critical juncture was exceptional. He mentioned the renewal of commercial and sovereign loans by China in recent months, which demonstrated the unparalleled friendship between the two countries.
The signing of the MoU for the nuclear power project between Pakistan and China marks a significant milestone in their economic cooperation. The project’s initiation, with Chinese support and investment of $3.48 billion, showcases the trust and faith Chinese companies and investors have in Pakistan.
The enduring friendship between the two nations and the unity displayed among political parties and military leadership further strengthen the bond.