He said the three units are part of the Combined Cycle Plant and would generate 747MW of electricity to cut down the demand-supply gap. He said the early completion of the project, seven months ahead of schedule, will lead to a saving of Rs 58.6 billion. He said the saving is almost equal to the amount spent on the project. He said he is pleased to see that the efforts of the government are bearing fruits and hoped that with sustained efforts the problem of load shedding will be finished soon, and industry and agriculture will flourish.
The Prime Minister regretted that in the past the slow pace of work on the projects had hampered progress but hoped that the measures being adopted by the government will bring about a positive change. He said the people of Pakistan are facing long hours of load shedding for the past one decade and it has also seriously undermined country's progress in all areas.
However, he expressed the hope that with the initiative of the government things would change and an era of progress and development will usher in. In this regard he said the government through good governance is trying to enhance efficiency of existing power plants, speeding up work of ongoing projects, and planning for new projects under public-private partnership.
PM Sharif also termed the project as part of the government's efforts to meet the energy shortfall in the country and gave a detailed overview of the new projects that were underway across the country to make the country self sufficient. He said following government efforts additional 21,000MW electricity will be added to the national grid in next eight years.
He was also appreciative of the Chinese assistance and its company Harbin Electric International Company for completing the work on the project, seven months ahead of the deadline. The PM also lauded the strong Pakistan-China ties and said he is proud of Pakistan's friendship with China. He said the two countries are jointly working on several power projects and China has promised investment of billions of dollars in different projects in Pakistan.
He was also appreciative of the Ministry of Water and Power, GENCO Holding Company and Central Power Generation Co Ltd for fast tracking the project. The Prime Minister, who earlier had a round of the Power Plant and unveiled the plaque, was also briefed about the salient features of the project.
He said he and Chief Minister of Sindh Syed Qaim Ali Shah will soon jointly inaugurate the work on the new Lahore-Karachi motorway that will usher in an era of prosperity and development in the country. He mentioned that soon after coming into power, his government paid back the Rs 500 billion circular debt and incentives were given to Independent Power Producers. He said 6600MW electricity will also be generated at Gadani Power Park with assistance of local and foreign investors, while with the support of the Asian Development Bank a 1320MW coal-fired power plant is being set up at Jamshoro, besides feasibility was underway for similar coal plants at Lakhara, Port Qasim and Thar.
He said work on 1410MW extension IV at Tarbela, Extension V at Tarbela for 1320MW and 4500MW at Diamir and Bhasa dams has also been initiated. He said the private sector is investing in power projects at Soki Kinari, Karot and Kohala, and all this will bring about 21,000MW power in next eight years. The event was also attended by Minister for Information Pervaiz Rashid, Minister for Water and Power Khawaja Asif and Minister of State for Water and Power Abid Sher Ali. The Prime Minister also announced three-month basic salary for the workers.