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 says repaid over $13.06 billion domestic debt early in last 14 months
- Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
- Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025
KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline.
Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday.
“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X.
Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026.
He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.
He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt.
The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025.
“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote.
Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.
