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November 30, 2017

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PM opens over 1,300 MW Port Qasim coal-fired power project

PM opens over 1,300 MW Port Qasim coal-fired power project

KARACHI: Prime Minister Shahid Khaqan Abbasi has said that the general elections will be held in August 2018 and added the future lies in democracy and there was no other way. He was speaking at the inauguration of unit-I of 1,320MW Port Qasim coal-fired power project here on Wednesday. “Pakistan has a vibrant democracy and the state institutions are on the same page and working for the betterment of Pakistan and it’s people.”

Abbasi said the 660MW (unit-I) was completed in a record time while the unit-II will be commissioned by February 2018. The Port Qasim coal plant is jointly developed by the Power China Resources Limited and Qatar's Al-Mirqab Capital with a total investment of $2.085 billion. The government completed the energy project on time that it had started. Nepra reduced the electricity tariff by Rs2 per unit.

Abbasi said the power generation has increased beyond the country's demand. He said Pakistan has achieved surplus generation and now other energy sector issues including transmission and distribution and circular debt were being dealt with. “This project reflects the vision of President Xi and Prime Minister Nawaz Sharif,” Abbasi said and added Pakistan is committed to CPEC as this would ensure economic growth of the country as well as the entire region.

Recalling numerous infrastructure projects initiated and completed during the current tenure, Prime Minister Abbasi said no government in Pakistan delivered so much for the people as the PML-N government did and that too at a much cheaper cost. Qatari Prince and Al-Mirqab Capital Chairman Sheikh Jassim bin Hamad al Thani expressed the hope that they would do more projects with China and Pakistan.

He also said that Qatar was willing to make investments in CPEC projects. The prime minister thanked the Qatari prince for gracing the inauguration event with his presence. He said the Port Qasim Coal Power Plant was a proof of Pak-China friendship.

Chinese Ambassador Yao Jing said the Chinese government and Chinese companies would make every effort to make CPEC a success for the betterment and prosperity of Pakistani people. “The most important aspect of the Port Qasim power project is the involvement of Qatar, which reflects the political willingness of China and Pakistan to have peace and development in the region. We hope other countries would also join CPEC soon,” Jing added. Speaking on the occasion, Sheng Yuming, Chairman Power China Resources Limited and Port Qasim Electric Power Company, said the successful operation of two units will add 1,320MWs of reliable energy. “Designed to meet the full operation load for 30 years, the power plant is expected to make a significant contribution to resolve the energy shortage in Pakistan.”

Yan Zhiyong, Chairman Power Construction Corporation of China, said the last three years had witnessed firm determination of Pakistan government in elimination of terrorism, improvement in economic fundamentals and rising living standards, which led to significant inflows of foreign investment.

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