Fed govt claims to bring US$4 bn investment! Pakistan signs Azad Pattan Power Project on river Jhelum

Pakistan signed Azad Pattan Power Project which will be built on River Jhelum with an estimated cost of US$ 1.5 Billion. Prime Minister Imran Khan witnessed the signing of the project.
The project is the part of China Pakistan Economic Corridor (CPEC) and it will generate 700.7 MW requiring no fuel import and thus enable the country to move towards cheaper and greener power. The project is expected to be completed in 2026.
The Prime Minister said CPEC would take Pakistan on the path of rapid progress and development since its economic future was related to the completion of various energy and infrastructure projects.
The government claims the project would not burden the people as the premier said the previous governments’ costly projects increased the cost of energy and thus stressed the local currency.
Prime Minister said Pakistan could not compete with its neighboring countries in terms of generating low-cost energy. He said the hydropower generation was considered to be a big source of clean energy which was also in line with his government’s policy of ‘Clean and Green Pakistan’ and regarded as environment friendly. It would also help stem the impacts of global warming, he added.
The government claims despite the COVID-19 pandemic it has bought $4 billion investment and for the generation of 1,800 MW low-cost power in the country