CPEC Phase 2.0 and Economics of Nuclear Energy
It seems that policy makers of Pakistan are now considering further diversifying the energy generation mix under the flagship project of the CPEC and start construction of its largest Nuclear Power Plant 1200MW at the cost of US$3.7 billion at Chashma Mianwali would be a value addition. It is a good omen that these facilities are monitored and regulated by the Pakistan Nuclear Regulatory Authority (PNRA), ensuring compliance with International Atomic Energy Agency (IAEA) safety standards.
The rapidly emerging geopolitical and geostrategic scenarios are compelling the policy makers to further broaden energy production mitigating unilateral sanctions on its peaceful nuclear program. The new project will address the country’s growing electricity demands, ensuring a continuous base-load supply of electricity, reducing reliance on imported fuels.
Strategically, the coordination between Pakistan and China on Unit-5 vividly reflects ongoing sincere efforts under the CPEC Phase 2.0 including several infrastructure and energy-related projects. C-5 expects to contribute to economic growth and development by strengthening energy infrastructure in the country.
The Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal, rightly termed the Chashma Nuclear Power Project Unit-5 (C-5) a ‘milestone,’ reflecting the strength of Pakistan-China cooperation and reaffirming the commitment of both nations to sustainable development and energy security. Thus start and construction of this mega project will further strengthen the country’s national capacity in terms of diversification of energy production, efficiency and security essential for achieving the stability and sustainability of the macro-economy.
Interestingly, the first concrete pouring ceremony of Unit-5 (C-5) was attended by Federal Minister for Planning, Director General of the Strategic Plans Division, Lt........
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