China inks deal with cash-strapped Pakistan to set up nuclear power plant in Punjab province

 

China inks deal with cash-strapped Pakistan to set up nuclear power plant in Punjab province

Prime Minister Sharif termed the nuclear power plant agreement signing as a token of increasing economic cooperation between Pakistan and China



As a sign of increasing strategic cooperation between the two all-weather allies, China signed a deal with Pakistan to build a 1,200-megawatt nuclear power plant for a whopping $4.8 billion on June 20. Pakistan is financially strapped.

The agreement that Beijing would construct a 1,200-megawatt Chashma-V nuclear plant at Chashma in the Punjabi district of Mianwali was signed by Prime Minister Shehbaz Sharif.

Prime Minister Sharif promised to finish the nuclear power plant immediately and described the signing of the agreement as a sign of Pakistan and China's growing economic cooperation.

He said, "We will kick start it without any further delay," slamming the previous Imran Khan government for delaying the crucial power project.

He stated that China's $4.8 billion investment in this project, despite Pakistan's difficult economic situation, "sends the message that Pakistan is a place where Chinese companies and investors continue to show their trust and faith,"

Mr. Sharif stated that the Chinese companies granted special concessions that would enable this project to save billions of rupees.

He expressed optimism that Pakistan's current economic difficulties would be overcome with the assistance of China and other friendly nations.

According to Mr. Sharif, Pakistan had also been working with the International Monetary Fund to finish the 9th Review and had met all of its requirements.

He said, "We are deeply obliged to President Xi Jinping and the Chinese leadership for their generous help to Pakistan," and he also praised Saudi Arabia, the United Arab Emirates, and Qatar for providing assistance to his government, which was strapped for cash.

The Chashma power plants in Pakistan are thought to be crucial to the production of low-cost nuclear energy. According to the Pakistan Atomic Energy Commission, the four power plants that are currently in operation have an installed capacity of 1,330 megawatts.

Pakistan also has two other nuclear power plants in operation. Karachi Nuclear Power Plants (KANUPP 2 and 3) (with 2,290 megawatts of capacity)

Without the IMF's help, Pakistan, which has a lot of debt, cannot get loans from other countries or even bilateral assistance.

Pakistan has only received prompt assistance from China, while Saudi Arabia and the United Arab Emirates have also provided selective support.

In 2019, the IMF agreed to provide Pakistan with $6 billion subject to certain conditions. Due to the donor's insistence that Pakistan complete all formalities, the plan was repeatedly derailed, and the full reimbursement is still pending.

For a number of years, Pakistan's economy has been in free fall, putting a lot of pressure on the poor through unchecked inflation and making it almost impossible for many people to make ends meet.

Comments

Post a Comment

Popular posts from this blog

Latest Universities News In 2023

Image
 Latest  Universities News In 2023 The medieval schools known as studia generalia served as the foundation for the modern Western university; They were well-known educational institutions that welcomed students from all over Europe. Attempts to educate clerks and monks beyond the cathedral and monastic schools spawned the earliest studia. The primary distinction between the studia and the schools from which they emerged was their inclusion of foreign scholars. Giovanni d'Andrea giving a lecture at the University of Bologna Giovanni d'Andrea giving a lecture at the University of Bologna The first university in the West was a well-known medical school in Salerno, Italy, in the ninth century. It attracted students from all over Europe. However, it remained merely a medical school. Late in the 11th century, Bologna saw the establishment of the first genuine university in the West. It grew into a respected civil and canon law school. The University of Paris was established between ...
Read more

A Discussion with Mrs. Equity Ayesha A. Malik of the High Court of Pakistan, led by Prof. Mindy Chen-Wishart, Dignitary of the Staff of Regulation, College of Oxford

Image
  A Discussion with Mrs. Equity Ayesha A. Malik of the High Court of Pakistan, led by Prof. Mindy Chen-Wishart, Dignitary of the Staff of Regulation, College of Oxford Mrs. Equity Ayesha A. Malik of the High Court of Pakistan Photograph representation of Equity Ayesha Malik of the High Court of Pakistan Mrs. Equity Ayesha A. Malik, before her rise to the High Court, was filling in as an Equity of the Lahore High Court since Walk 2012. Brought into the world in June 1966, her essential training was finished from schools in Paris, New York and London. She obtained her B. Com from the Public authority School of Business and Financial aspects, Karachi and her LLB from the Pakistan School of Regulation, Lahore. She proceeded to do a LLM from Harvard Graduate school where she was named a Landon H. Gammon Individual for scholarly greatness. Equity Malik began her legitimate vocation working at Fakhruddin G. Ebrahim and Co and eventually proceeded to turn into an Accomplice at Rizvi, Isa,...
Read more

Top 5 Viral Videos Of All Time #viralvideo

Image
 Top 5 Viral Videos Of All Time Discover the top viral videos from 2005 to today, I review the videos to so you can take away lessons and find inspiration for your own content. Introduction This is the third iteration of my  YouTube  Top Viral Videos of All Time list. The first one included the top 25 YouTube videos that had “gone viral” up to that point in time, and my third list has improbably arrived at 42. Some YouTube gurus say a video “goes viral” when it gets more than 1 million views. Other  video marketing   experts say this threshold should be bumped up to 5 million views for any video uploaded after 2011. As I pointed out in “ How to make a video go viral, ” there is no industry standard definition of “viral video.” I generated the list from 2.6 million videos created by 624,000 accounts that all have more than 5 million views and 100,000 engagements using all available data. From the data I used, I estimate the odds of a video going viral are 3,192 ...
Read more