ISLAMABAD: The Pakistan-China Joint International Air Exercise ‘Shaheen-VII,’ aimed at maximizing the combat readiness of both countries' air forces, concluded at an operational air base of the Pakistan Air Force on Friday.
“The main objective of the exercise was to maximize the combat readiness of the air forces by providing a realistic training environment in different air combat scenarios,” the Pakistan Air Force said in statement available with Arab News.
“PAF has been participating in foreign exercises with leading and friendly Air Forces of the world. These exercises have helped in giving invaluable experience to the PAF combat crew and enhancing their professional competence,” the statement added.
The 'Shaheen-VII' joint air exercise began on December 3 this year and culminated on Friday with a special ceremony at an operational airbase of the Pakistan Air Force. Air Marshal Muhammad Haseeb Paracha, Deputy Chief of the Air Staff (Operations), was the chief guest at the closing ceremony while Major General Chen Wenrong, Defence Attaché from the Embassy of the Peoples Republic of China, was also present.
High ranking officials of both countries were given a comprehensive de-brief on the exercise. PAF war veterans, diplomats from the Chinese embassy, and retired and senior serving officers also attended the ceremony, PAF said.
Pakistan-China joint air exercise concludes in Karachi
Pakistan-China joint air exercise concludes in Karachi
- Pakistan airforce says exercise will maximize combat readiness
- 'Shaheen-VII' joint air exercise began on Dec 3 this year
Pakistan highlights economic reforms at Davos, eyes cooperation in AI, IT and minerals
- Prime Minister Shehbaz Sharif speaks at breakfast event in Davos at sidelines of World Economic Forum summit
- Pakistan, rich in gold, copper reserves, has sought cooperation with China, US, Gulf countries in its mineral sector
ISLAMABAD: Prime Minister Shehbaz Sharif highlighted Pakistan’s recent economic reforms during the sidelines of the ongoing World Economic Forum (WEF) summit in Davos on Wednesday, saying that his country was eyeing greater cooperation in mines and minerals, information technology, cryptocurrency and artificial intelligence with other states.
The Pakistani prime minister was speaking at the Pakistan Pavilion in Davos on the sidelines of the WEF summit at a breakfast event. Sharif arrived in Switzerland on Tuesday to attend the 56th annual meeting of the WEF, which brings together global business leaders, policymakers and politicians to speak on social, economic and political challenges.
Pakistan has recently undertaken several economic reforms, which include removing subsidies on energy and food, privatization of loss-making state-owned enterprises and expanding its tax base. Islamabad took the measures as part of reforms it agreed with the International Monetary Fund (IMF) in exchange for a financial bailout package.
“We are now into mines and minerals business in a big way,” Sharif said at the event. “We have signed agreements with American companies and Chinese companies.”
Islamabad has sought to attract foreign investment in its critical minerals sector in recent months. In April 2025, Pakistan hosted an international minerals summit where top companies and government officials from the US, Saudi Arabia, China, Türkiye, the UK, Azerbaijan, and other nations attended.
Pakistan is rich in gold, copper and lithium reserves as well as other minerals, yet its mineral sector contributes only 3.2 percent to the countrys GDP and 0.1 percent to global exports, according to official figures.
Sharif said Pakistan has been blessed with infinite natural resources which are buried in its mountains in the northern Gilgit-Baltistan, Khyber Pakhtunkhwa, Azad Kashmir and southwestern Balochistan regions.
“But we have now decided to go forward at lightning speed,” he said. “And we are also moving speedily in the field of crypto, AI, IT.”
He said the government’s fiscal and economic measures have reduced inflation from nearly 30 percent a few years ago to single-digit figures, adding that its tax-to-GDP ratio had also increased from 9 to 10.5 percent.
The prime minister admitted Pakistan’s exports face different kinds of challenges collectively, saying the country’s social indicators needed to improve.
“But the way forward is very clear: that Pakistan has to have an export-led growth,” he said.
SHARIF MEETS IMF MANAGING DIRECTOR
Separately, Sharif met IMF Managing Director Kristalina Georgieva on improvements in Pakistan’s macroeconomic indicators, efforts toward stability and progress on institutional reforms, a statement from Sharif’s office said.
He emphasized Pakistan’s commitment to fiscal discipline, revenue mobilization and sustainable development, it added.
The IMF managing director acknowledged and appreciated Pakistan’s reform efforts, the Prime Minister’s Office (PMO) said.
“Both sides exchanged views on the global economic outlook, challenges facing emerging economies, and the importance of multilateral cooperation in safeguarding economic stability,” the PMO said.
