Pakistan: Expansion in nuclear power generation hits snags
Islamabad: The development of C-5, which is the fifth unit of the Chashma Nuclear Power Generating Station, has been hit by a snag due to the reported refusal by the Ministry of Finance to furnish a sovereign guarantee, media reports said.
The Chinese partner has agreed to provide financing for up to 85 percent of the $3.7 billion nuclear power plant having a nameplate capacity of 1,200 megawatts, subject to the sovereign guarantee, reports Dawn News.
Such guarantees are meant to assure the creditor that the government will satisfy the obligation if the primary obligor — the Pakistan Atomic Energy Commission (PAEC), in this case — defaults on the loan repayment, the newspaper reported.
The loan programme of the International Monetary Fund (IMF) seems to have tied the government’s hands with regard to the sovereign guarantee.
As part of the 2022-23 budget, the government has laid before the National Assembly a Statement of Contingent Liabilities.
The list contains all guarantees expected to be issued during the fiscal year. The government is treating it as a ceiling to contain fiscal risks and safeguard the public debt trajectory, the newspaper reported.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
UK may get first Muslim PM: Pakistani-origin Shabana Mahmood in focus as Starmer faces Mandelson-Epstein row
British Prime Minister Keir Starmer is navigating one of the most challenging periods of his political career amid renewed attention on the Jeffrey Epstein scandal.
Hajj 2026 visas now open – Saudi Arabia prepares for record pilgrimage
The Saudi Arabian government has begun issuing visas for the 2026 Hajj season (1447 AH) starting February 8. This step is part of the Ministry of Hajj and Umrah's ongoing efforts to enhance service readiness and streamline preparations months ahead of the arrival of pilgrims in the Kingdom.
Khamenei breaks 37-year-old ritual for first time amid escalating Iran-US tensions
Iran’s Supreme Leader Ayatollah Ali Khamenei has, for the first time in nearly four decades, skipped a major annual meeting with air force commanders — a departure from a ritual he faithfully observed since assuming leadership in 1989.
Who is Hindu politician Ramesh Chandra Sen? Ex-Minister during Hasina's regime dies in Bangladesh jail before polls
Ramesh Chandra Sen, a senior Awami League leader and former minister in Bangladesh, died on Saturday after falling ill at Dinajpur District Jail, just days before the politically volatile nation is set to vote in national elections.
Latest News
Rejected during Valentine’s week, student shoots classmate in Punjab college; turns gun on himself
‘Beginning of another chapter’: Virgin River trailer tracks Mel and Jack’s new journey; series arrives on March 12
India AI Impact Summit pushes five-star hotel rates in Delhi into lakhs
UK may get first Muslim PM: Pakistani-origin Shabana Mahmood in focus as Starmer faces Mandelson-Epstein row
