Saudi special ops forces to participate in five-day Pakistan naval exercise from Friday

Commander Pakistan Fleet Vice Admiral Ovais Ahmed Bilgrami, addresses a news briefing to host Pakistan Navy's 8th Multinational Exercise AMAN-23 under the slogan of "Together for Peace", in Karachi, Pakistan, February 8, 2023. (Photo courtesy: REUTERS)
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Updated 08 February 2023
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Saudi special ops forces to participate in five-day Pakistan naval exercise from Friday

  • Around fifty countries are patriating in the multinational maritime exercise
  • Exercise is held every two years to provide platform to exchange maritime expertise

KARACHI: A Saudi special forces team will be participating in a five-day multinational military exercise led by Pakistan in the Arabia Sea this week, a Pakistan navy official said on Wednesday.

The Pakistan Navy conducts the AMAN (peace) multinational maritime exercise every two years since 2007.

The eighth edition of the exercise, called AMAN-23, will start on Friday with ships, aircrafts, Special Operation Forces, Explosive Ordnance Disposal (EOD) Marines teams and observers from over 50 countries. 

“From Saudi Arabia, a team of special operation forces is participating in the Multinational Maritime Exercise this year,” Commander Pakistan Fleet Vice Admiral Ovais Ahmed Bilgrami told reporters at a press briefing. 

“Teams from Kuwait and Oman are also participating.”

The Navy said the exercise was divided into the harbor and sea phases. The harbor phase involves activities such as seminars, operational discussions, professional demonstrations, international get togethers and pre-sail planning of evolutions at sea.

The sea phase would include tactical maneuvers, exercises related to maritime security such as anti-piracy and counterterrorism, search and rescue, gunnery firings and air defense exercises.

The highlight of the sea phase would be an International Fleet Review, to be witnessed by national and foreign dignitaries.

Commander Pakistan Fleet said that the principal purpose of the exercise was to provide a forum to understand other nations’ maritime concepts and operational cultures, enhance interoperability as well as identify ways to combat common threats at sea.

“The occasion also helps foster friendships, bridging gaps and making it possible for countries from far and wide to operate together in pursuance of shared objectives,” Bilagram said, adding that as a maritime nation, Pakistan had “substantial stakes” in keeping the seas safe and secure:

“Our interests are based on three major factors. Firstly, our extraordinary dependence on the seas for trade, secondly, operationalization of the CPEC [China Pakistan Economic Corridor] project and thirdly, our strategic location astride the global energy highway.”

Cumulatively, Bilgrami said, these realities made maritime stability a “vital national security interest.”

“We realize the importance of maritime security not only for Pakistan but for all other countries whose prosperity and progress are tied to the seas,” the naval officer said. “While we talk of security and stability at sea, let us be mindful of the threats and challenges that we face in the maritime domain, ranging from piracy, terrorism, narco-arms trafficking to climate change.”

Bilgrami said the vastness of the seas made it “extremely difficult” for any one nation to deal with the diverse challenges alone.

“This calls for collective effort to make sure the seas remain safe and secure for all of us to use and benefit from Pakistan Navy is therefore a firm believer in the concept of Collaborative Maritime Security and has been actively participating in Maritime Security and Counter Piracy Operations along with other partner navies since 2004,” he said.

Since 2018, Pakistan Navy has been undertaking Regional Maritime Security Patrols through which its ships maintain a presence in vital sea areas in the Indian Ocean Region, he said.
 


Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

Updated 49 min 22 sec ago
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Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

  • Pakistani financial analyst attributes surge to falling inflation, investors expecting further policy rate cuts
  • Pakistan’s finance ministry said Thursday that inflation had slowed to 5.6 percent year-on-year in December 

KARACHI: Pakistani stocks continued their bullish run on Thursday, breaching the 176,000 points barrier for the first time after trading ended, with analysts attributing the surge to investors expecting further cuts in the policy rate. 

The KSE-100 benchmark gained 2,301.17 points at close of business on Thursday, marking an increase of 1.32 percent to settle at 176,355.49 points. 

Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last ‌month, breaking a four-meeting ‌hold in a move ‌that ⁠surprised ​markets. Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis as per data from the finance ministry. 

“Upbeat data for consumer price index (CPI) inflation at 5.6pc in December 2025 [with] investors expecting a further State Bank of Pakistan rate cuts on falling inflation data,” Ahsan Mehanti, CEO of Arif Habib Commodities Ltd., told Arab News. 

The stock market witnessed a trading volume of 1,402.650 million shares, with a traded value of Rs48.424 billion ($173 million), compared with 957.239 million shares valued at Rs44.231 billion ($158 million) during the previous session.

Topline Securities, a leading brokerage firm in Pakistan, credited the surge to strong buying at the first session.

“This positivity can be accredited to buying by local institutions on the start of the new calendar year,” it said. 

Pakistan’s Finance Adviser Khurram Schehzad highlighted that the bullish trend at the stock market reflected “strong investor confidence.”

“With lower inflation, affordable fuel, stronger reserves, rising digitization and a buoyant capital market, Pakistan’s economic outlook is clearly improving--supporting greater confidence, better investment sentiment and more positive momentum for 2026,” he said on social media platform X.