Pakistan China Relations: China’s nuclear power will be heavy on poor Pakistan, you will be shocked to hear the price of one unit – chashma 5 nuclear power plant to produce power at rs20 per unit shehbaz sharif breaks ground

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Islamabad: Pakistan, which is struggling with poverty, is now going to find it difficult to buy nuclear power from China. Pakistan is going to get electricity at Rs 20 per unit from the nuclear plant built with Chinese money. In such a situation, it may be difficult for the Pakistani people to buy such expensive electricity. China is going to set up Chashma-5 (C-5) nuclear power plant in Pakistan at a cost of $5 billion. For this, Pakistani Prime Minister Shahbaz Sharif has also laid the foundation stone of the fifth unit of the plant on Friday. The price of Rs 20 per unit is much higher than the coal-generated power in Pakistan. Last month, China and Pakistan signed a deal with the 1,200-MW Chashma-5 power plant worth $3.48 billion, with availability in 2029 as soon as possible, according to the Business Recorder. C-5) A Memorandum of Understanding (MoU) was signed for the nuclear power project. The estimated capital cost of the project was pegged at $4.777 billion under the Indicative Production Capacity Expansion Plan (IGCEP) 2018-40. A framework agreement for C-5 was signed in April 2015 on the nuclear plant between Pakistan and China.

This was followed by the signing of a commercial agreement between Pakistan’s nuclear power company PAEC and its Chinese counterpart in 2017. After this, both countries decided to prepare the C-5 nuclear power plant for production first in 2019 and later in 2022. In September 2021, the Council of Common Interests (CCI) approved a Joint Action Plan for the preparation of the New Generation Plan for 2021-30. However, plans for the Chashma Nuclear (C-5) power project to have a longer life with lower operational costs were not included in the plan.

For this project, China has loaned 85 per cent of the cost. The remaining 15 percent will be borne by the Government of Pakistan. CEXIM Bank, MOFCOM and China International Development are prominent among the lending institutions to Pakistan. These Chinese entities have fixed the prices of electricity to protect their costs even before the start of production. For this, he has fixed the price of electricity per unit at Rs 20. This amount is very high for common Pakistanis.

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