PM Shehbaz says signing of MoU for 1200 MW Chashma-V Nuclear Power Plant is a great step forward of economic cooperation b/w Pak& & China

ISLAMABAD, June 20 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif on Tuesday hailed the “outstanding” financial support provided by China amid the “inordinate” delay of the International Monetary Fund’s (IMF) loan programme.

PM Shehbaz Sharif expressed the views while addressing a ceremony in Islamabad for signing a memorandum of understanding (MoU) between Pakistan and China for the 1,200 MW Chashma-5 (C-5) nuclear power project.

“It is a great occasion and a great moment between two great friends, China and Pakistan,” he said, adding that the power project was a “great step forward” for economic cooperation between the two countries.

The premier said that he had inaugurated the K-3 nuclear power project in Karachi a few months ago and today an agreement had been signed for the C-5 project.

“Hopefully, we will kickstart it without further delay,” he said. He noted that investment from China, to the tune of $4.8 billion, had sent a message “loud and clear” that Pakistan was a place where Chinese companies and investors continued to show their trust.

“Our friendship is higher than the Himalayas, deeper than the deepest ocean, sweeter than sugar and honey, and stronger than iron and steel,” he said, adding that the Chinese president had described the relationship between the two sides as one of “iron brothers”.

He said that Pakistan had met all the terms and conditions of the IMF’s ninth review, yet the process faced “inordinate delay”.

“We thought this would be done two months ago, three months ago but there has been inordinate delay … China, once again, came to our help and rescue. This is friendship. A friend in need is a friend indeed.”

He said that apart from China, Saudi Arabia, United Arab Emirates, Qatar and Kuwait had also been helping Pakistan.

“But at this point and time, at this juncture, Chinese financial support has been outstanding,” he said, adding that was at a loss of words to express his gratitude.

“We are deeply obliged to President Xi Jinping, to the Chinese leadership and to the Chinese finance minister,” he said, as he also recognised the efforts of Finance Minister Ishaq Dar and his team.

PM Shehbaz Sharif said during last few months, China had also renewed commercial and sovereign loans which reflected the unparalleled friendship between the two countries.

PM Shehbaz Sharif said the signing of Memorandum of Understanding for 1200 Megawatt Chashma-V Nuclear Power Plant is a great step forward of economic cooperation between Pakistan and China.

He said the Chinese companies gave concession of 30 billion dollars to Pakistan in two phases in implementation of this project.

Finance Minister Mohammad Ishaq Dar, Minister for Energy Engineer Khurram Dastgir Khan, Minister for Planning and Development Ahsan Iqbal Chaudhry, the Chinese Charge d’affaires Ms Pang Chunxue representative of Chinese companies and other higher authorities of Pakistan and China were also present on this occasion.