Saudi military chief of staff visits Pakistan’s naval headquarters, discusses regional security

In this screengrab, taken from a video released by Pakistan Navy's Director General Public Relations, Pakistan's Chief of Staff Vice Admiral Naveed Ashraf (left) shakes hands with Chief of the General Staff Saudi Armed Forces General Fayyadh bhi Hameed as he arrives at the Naval Headquarters, Islamabad on September 20, 2023. (AN Photo/Screengrab)
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Updated 20 September 2023
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Saudi military chief of staff visits Pakistan’s naval headquarters, discusses regional security

  • Pakistan and Saudi navy forces earlier this month participated in joint naval exercise near Al Jubail
  • Saudi military chief of staff’s visit to ehnahce bilateral defense cooperation, says Pakistan Navy

ISLAMABAD: General Fayyadh bin Hamed Al-Ruwaili, chief of general staff of the Saudi Armed Forces, visited Pakistan’s Naval Headquarters in Islamabad on Wednesday to discuss regional security and bilateral cooperation with a senior Pakistan Navy official, the navy said in a statement. 
The armed forces of Pakistan and Saudi Arabia enjoy close collaboration and defense ties which results in joint exercises between the two countries on a regular basis. Earlier this month, Pakistan and Saudi Arabia started a joint naval exercise near the Kingdom’s Al Jubail city to strengthen bilateral ties and foster interoperability among their navies and special operation forces.
During Wednesday’s visit, Pakistan Navy said Al-Ruwaili called on Pakistan Navy’s Chief of Staff Vice Admiral Naveed Ashraf.
“During the meeting, matters of mutual interest including bilateral collaboration and regional security were discussed,” the statement said. “The visiting dignitary appreciated and acknowledged Pakistan Navy’s efforts and commitments in support of collaborative maritime security in the region.”




In this handout photograph, taken on September 20, 2023 and released by Pakistan Navy's Director General Public Relations, Pakistan's Chief of Staff Vice Admiral Naveed Ashraf gestures with Chief of the General Staff Saudi Armed Forces General Fayyadh bhi Hameed during a meeting at the Naval Headquarters, Islamabad. (Photo courtesy: Pakistan Navy)

Pakistan Navy said both representatives appreciated the successful conduct of the mutual naval exercise in Al-Jubail and “reaffirmed the resolve to further enhance bilateral defense ties.”
“The visit of Chief of the General Staff Saudi Arabian Armed Forces will further enhance bilateral defense collaboration between the two countries,” the statement added.
Pakistan and Saudi Arabia have long-standing and historic fraternal relations, rooted deep in common faith, shared history and mutual support. The Kingdom is also home to over 2.5 million Pakistanis, serving as the South Asian nation’s top source of remittances.
Riyadh and Islamabad enjoy close cooperation in defense and other sectors, including trade, economy, culture, information and investment. In June, Pakistan set up a hybrid civil-military investment council to attract foreign investment in various sectors including mines, minerals and agriculture.
Earlier this month, Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar said Riyadh had agreed to invest $25 billion in projects that are part of the investment council for a period of three to five years.
 


Pakistan inflation slows to 5.6% in December

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Pakistan inflation slows to 5.6% in December

  • Falling prices of perishable food items drove a monthly decline
  • Central bank warns inflation may rise again later this fiscal year

KARACHI: Pakistan’s consumer price inflation slowed to 5.6% year-on-year in December, while prices fell on a monthly basis, official data showed on Thursday.

The data comes after Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5% last ‌month, breaking a four-meeting ‌hold, in a move ‌that ⁠surprised ​markets. ‌All analysts polled by Reuters had expected rates to remain unchanged at the December meeting.

Inflation eased from 6.1% in November and marked a sharp slowdown from levels that peaked above 30% in 2023, according to official data.

Lower prices of perishable food ⁠items helped drive the monthly decline, the Pakistan Bureau of ‌Statistics said, with food prices falling ‍1.7% month-on-month in ‍December, led by declines in both urban and ‍rural areas.

The finance ministry had said on Wednesday that inflation was expected to remain moderate at 5.5%–6.5% in December.

The State Bank of Pakistan has said ​inflation stayed within its 5%–7% target range during the July–November period but warned that ⁠core inflation remains sticky and headline inflation could rise temporarily toward the end of this fiscal year, which ends in June, due to base effects.

Non-food inflation remained elevated in both urban and rural areas in December, underscoring the central bank’s concerns over persistent underlying price pressures.

The central bank has said the inflation outlook remains broadly unchanged, while the International Monetary Fund has cautioned against ‌premature monetary easing under Pakistan’s $7 billion loan program.