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Pakistan decides to shelve major CPEC power project

IANS  |  Islamabad 

The government has decided to shelve a major power project under the China-Economic Corridor (CPEC) that was pushed by former Nawaz Sharif's regime, the media reported on Monday.

Background discussions with government officials suggest that has officially conveyed to that it was no more interested in the 1,320MW power project in view of sufficient generation capacity already lined up for the next few years, Dawn news reported.

It has requested to formally delete the project from the CPEC list.

During the 8th (JCC) meeting held last month, a Pakistani delegation led by "proposed to remove the imported fuel power plant (1,320MW) from the CPEC list, in order to provide structure optimisation space for the subsequent power market of Pakistan", a government said.

The project was originally pushed as an imported coal-based plant by Quaid-i-of the government led by former

A leading business tycoon had proposed the project and was expected to be one of its key sponsors.

The said Imran Khan's government has also decided to remove almost 400 "politically motivated" Public Sector Development Programme (PSDP) projects as part of a comprehensive mid-year review later this month.

"We are reviewing all such schemes in detail; we do not want to waste public funds where lien has been created or sufficient progress achieved, but we definitely don't like to throw good money after bad," a cabinet member told Dawn.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 09:22 IST
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