Strategic Plans Division (SPD) Director General Lieutenant General Zubair Mahmood Hayat called on Federal Minister for Finance Ishaq Dar on Saturday and briefed him about the financing mechanism of K2 and K3 nuclear energy projects.
Secretary Economic Affairs Division (EAD) Nargis Sethi and DG SPD gave a joint briefing to the minister about the status of the project and what is the future plan to take this project ahead.
The aforementioned energy projects will be a part of Pak-China Energy Corridor and will be jointly financed by China (EXIM Bank) and Pakistan in a ratio 82 and 18 percent respectively.
Gen Hayat told the minister that the project when completed would be the cheapest source of energy. This project will help a long way in overcoming the energy crunch which is experienced now by the country, he added. It was also briefed to the minister that the project would use very secure and highly efficient third generation equipment to make cheapest electricity.
The minister appreciating the efforts of EAD and Pakistan Atomic Energy Commission (PAEC) in making a plan for this project said that the PML-N government would take the country where the rest of the developed world stands now. “When we planned to build the Motorway, it was considered ahead of time but now it has increased its value many-fold and if these energy projects are pursued as per planned we shall be able to meet the future energy requirements of Pakistan,” he added.
The minister directed that another meeting should be held on the same projects next week in which all the relevant stakeholders from EAD, Finance, SPD and PAEC should be invited to make presentations of the project details and what steps are to be taken by the government to help make this project a reality.