ANL 10.28 Decreased By ▼ -0.05 (-0.48%)
ASC 9.09 Increased By ▲ 0.02 (0.22%)
ASL 10.99 Decreased By ▼ -0.21 (-1.88%)
AVN 77.60 Decreased By ▼ -0.78 (-1%)
BOP 5.40 Decreased By ▼ -0.03 (-0.55%)
CNERGY 5.33 Decreased By ▼ -0.04 (-0.74%)
FFL 6.60 Decreased By ▼ -0.03 (-0.45%)
FNEL 5.85 Decreased By ▼ -0.10 (-1.68%)
GGGL 11.09 Increased By ▲ 0.03 (0.27%)
GGL 16.53 No Change ▼ 0.00 (0%)
GTECH 8.41 No Change ▼ 0.00 (0%)
HUMNL 7.14 Decreased By ▼ -0.02 (-0.28%)
KEL 3.00 Decreased By ▼ -0.09 (-2.91%)
KOSM 3.21 Increased By ▲ 0.17 (5.59%)
MLCF 27.00 No Change ▼ 0.00 (0%)
PACE 3.00 No Change ▼ 0.00 (0%)
PIBTL 5.94 Decreased By ▼ -0.13 (-2.14%)
PRL 17.90 Decreased By ▼ -0.30 (-1.65%)
PTC 6.97 Decreased By ▼ -0.05 (-0.71%)
SILK 1.17 Increased By ▲ 0.01 (0.86%)
SNGP 34.28 Decreased By ▼ -0.13 (-0.38%)
TELE 10.81 Decreased By ▼ -0.22 (-1.99%)
TPL 9.08 Increased By ▲ 0.03 (0.33%)
TPLP 20.15 Increased By ▲ 0.11 (0.55%)
TREET 29.15 Decreased By ▼ -0.35 (-1.19%)
TRG 77.11 Increased By ▲ 0.06 (0.08%)
UNITY 20.05 Decreased By ▼ -0.19 (-0.94%)
WAVES 12.80 Increased By ▲ 0.10 (0.79%)
WTL 1.33 Decreased By ▼ -0.04 (-2.92%)
YOUW 4.99 Increased By ▲ 0.19 (3.96%)
BR100 4,101 Increased By 22 (0.54%)
BR30 15,026 Decreased By -95.4 (-0.63%)
KSE100 41,541 Increased By 243.1 (0.59%)
KSE30 15,805 Increased By 108.4 (0.69%)
Business & Finance

Karot Hydropower Project to be made operational soon: PM Shehbaz

  • Says govt working towards reviving economy, but PTI sit-ins derailing process
Updated 25 May, 2022

Prime Minister Shehbaz Sharif said on Wednesday that the incumbent government is working to revive the country's economy, while the Pakistan Tehreeek-e-Insaf (PTI) is derailing the process through its sit-ins and protests.

Talking to media persons during his visit to the site of Karot Hydropower Project, PM Shehbaz said that the 720MW hydel power project, situated between the boundaries of Punjab and Azad Jammu and Kashmir, will be made operational soon.

“There have been some delays in the past due to Covid-19 and other issues," he said. "But the management of this project has taken us into confidence that the project would be soon operational, and play a positive role in the economic development of the country.

“Hydroelectricity is much more cost-effective than power generated from thermal sources, ultimately dropping to Rs2-3 per unit. It is also a clean source of power generation."

The prime minister criticised his predecessor Imran Khan for not making visits to such projects during his tenure.

“It is very unfortunate that despite having ample time, he (Imran Khan) did not pay heed to curbing inflation, poverty rate, unemployment or visiting such projects,” said the PM.

Karot Power Company (Pvt) Limited (KPCL), a subsidiary of China Three Gorges Corporation, is developing the 720 MW Karot Hydropower Project.

PM seeks plan aimed at boosting IT&T exports

“I have requested Chinese authorities to provide electricity generated through the project free of cost to the national grid, until the commercial operation date (COD) is not achieved, which was accepted. This would save the national exchequer Rs4 billion annually,” he said while lauding Pak-China relations.

Meanwhile, the prime minister said that back in 2014, the visit of Chinese President Xi Jinping was cancelled due to PTI sit-ins.

The PM concluded that many such power projects will be built through Pakistan and China's joint collaboration.

Comments

Comments are closed.