Published On: Mon, Jan 6th, 2014
Published in Category: Islamabad

FPCCI praises Chinese energy cooperation

Share This

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday lauded the historic decision of China to construct twin nuclear power stations to bridge gap between demand and supply of electricity.

The largest ever financing deal by a best friend for a single project in Pakistan with a $6.5bn loan will not only reduce the energy crisis but also bring two countries closer and enhance Chinese influence in the region, said Zubair Ahmed Malik.

In a statement issued here on Sunday, he said that move would reduce load shedding by 15 per cent and cut unemployment while improving energy mix as well as rate of economic growth.

He said that great projects like Iran gas pipeline and Kalabagh dam have become highly controversial and almost unworkable therefore government should aggressively peruse nuclear energy option.

Zubair Ahmed Malik said that Pakistan is not allowed to use civil nuclear technology but India and some other countries have been allowed which is discrimination.

The countries raising hue and cry over Islamabad-Beijing deal have ulterior motives as both countries have a right to sign such deals and Pakistan is not in a position to compromise its energy security, the FPCCI chief said.

He said that Pakistan was left with no option but to broker deal with a true friend as west wasn’t ready to provide the much-needed technology to Pakistan so that its economy could be salvaged.

Malik categorically said, “Those helping us tame energy crisis are friends and those who are blocking our access are enemies.”

The FPCCI chief lauded the efforts of the government to tame the crisis and termed deal to get $6.5bn loan from China repayable in 20 years a great success of economic managers.

Pakistan will become the first country to use Chinese civil nuclear technology which will open massive business opportunities for companies of the friendly countries, remarked Malik.