ISLAMABAD: Pakistan’s new navy chief, Admiral Naveed Ashraf, took charge of the country’s naval force on Saturday after a change of command ceremony was held at the PNS Zafar in the capital city.
Pakistan Navy announced Ashraf’s appointment on Tuesday as the country’s 23rd naval chief, saying that he would be promoted to the rank of admiral on Saturday. During the televised change of command ceremony, outgoing Pakistan Navy chief Admiral Muhammad Amjad Khan Niazi handed over the reins of the navy to his successor and wished him luck.
“As I hand over the command of the navy to Admiral Ashraf, I wish him the best of luck and a rewarding tenure in office,” Niazi said during his farewell address.
“The admiral has a distinguished career, studded with notable achievements and I am sure he would prove to be an able and worthy successor who will lead the navy to new heights, God willing.”
Niazi said Pakistan’s navy stands as a “vital arm” of the country’s armed forces, adding that it has also emerged as an effective contributor toward the socio-economic uplift of the country nationally and internationally.
Ashraf was commissioned in the Operations Branch of the Pakistan Navy in 1989. He is a graduate of the National Defense University in Islamabad, the US Naval War College, and the UK’s Royal College of Defense Studies.
According to Radio Pakistan, Ashraf has “vast experience” of working in key command and staff positions and before his appointment as navy chief, was serving as chief of staff at the Naval Headquarters.
Ashraf has been awarded prestigious Pakistani medals Hilal-i-Imtiaz (Military) and Tamgha-i-Basalat for his professional services and courage.
Pakistan’s new naval chief Admiral Naveed Ashraf takes charge
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Pakistan’s new naval chief Admiral Naveed Ashraf takes charge
- Admiral Naveed Ashraf takes charge of country’s naval forces during televised change of guard ceremony
- Prior to his appointment, Admiral Ashraf was serving as chief of staff at Pakistan’s Naval Headquarters
Pakistan business group presses for corporate tax rationalization in IMF talks
- Pakistan Business Council calls for abolition of super tax, phased corporate rate cut to 25%
- PM Sharif has said government is considering reduction in direct taxes in upcoming budget
KARACHI: Pakistan’s business policy advocacy group urged the government to rationalize corporate tax rates during talks with an International Monetary Fund (IMF) delegation on Saturday, arguing such a step would be critical to shifting the economy from stabilization to export-led growth.
The Pakistan Business Council (PBC), which represents many of the country’s largest private-sector companies, said the current tax structure places a disproportionate burden on documented and compliant enterprises.
The engagement follows the arrival of an IMF staff mission in Pakistan earlier this week to begin review talks that will determine the release of the next tranche under the country’s $7 billion Extended Fund Facility (EFF) and the $1.4 billion Resilience and Sustainability Facility (RSF).
The team is expected to start formal negotiations next week, discussions seen as critical to sustaining Pakistan’s fragile economic recovery and maintaining external financing stability.
“Stabilization has provided breathing space,” PBC Chairperson Dr. Zeelaf Munir said according to a statement after the meeting with the IMF delegation headed by mission chief Iva Petrova. “The priority now is institutionalizing growth.”
“A competitive and equitable tax framework, predictable energy pricing and policy consistency are essential to expand exports, attract investment and generate employment at scale,” she continued. “The private sector stands ready to deploy capital where reform signals remain clear and credible.”
In its presentation to the Fund team, the PBC called for the abolition of the super tax, an additional levy imposed in recent years on high-earning companies and individuals to shore up revenues, in all its forms. It also demanded a phased reduction of the corporate tax rate to 25%, and rationalization of advance and withholding tax regimes that businesses say function as de facto minimum taxes.
The PBC urged the broadening of the tax base through stronger enforcement to bring untaxed sectors into the net, rather than increasing the burden on existing taxpayers.
Prime Minister Shehbaz Sharif said earlier this week on Wednesday the government was considering reducing direct taxes in the upcoming federal budget to support businesses, while maintaining that indirect taxes collected from consumers must be properly deposited into the national exchequer.
The IMF review discussions with the Pakistani authorities are expected to focus on fiscal consolidation, monetary policy, structural reforms and climate-related benchmarks tied to the RSF program, as Islamabad seeks to secure continued external financing and strengthen macroeconomic stability.
