Pakistan signs contract to sell JF-17 Block-III fighter jets to Azerbaijan 

Pakistan Air Force JF-17 fighter jets perform at a rehearsal ahead of Pakistan's national day parade in Islamabad on March 21, 2024. (AFP/ File)
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Updated 26 September 2024
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Pakistan signs contract to sell JF-17 Block-III fighter jets to Azerbaijan 

  • Pakistan Air Force is mostly reliant on Chinese JF-17 Thunder jets, French Mirages and aging US F-16s 
  • In 2022, Pakistan announced the addition to its fleet of next-generation Chinese J-10 C fighter jets

ISLAMABAD: The Pakistan army said on Thursday it had signed an agreement with Azerbaijan for the sale of JF-17 Block-III fighter aircraft “to bolster the airpower capabilities” of the Western Asian nation. 

The PakistanAir Force (PAF) is mostly reliant on Chinese JF-17 Thunder jets, French Mirages and aging US F-16s but in 2022 announced the addition to its fleet of next-generation Chinese J-10 C fighter jets also. 

“President of Azerbaijan expressed that the support extended by Pakistan would go a long way in consolidating the existing military cooperation between Pakistan and Azerbaijan, fostering closer defense collaboration and strengthening the warm brotherly ties between the two nations,” the Pakistan army’s media wing, ISPR, said in a statement, announcing the sale agreement. 

The army did not disclose how many jets it would sell to Azerbaijan and at what price or any other details of the deal. 

“JF-17 Thunder Block-III is an AESA [active electronically scanned array] Radar and Long Range BVR [beyond-visual-range] equipped 4.5 generation Multi-Role fighter aircraft which is capable of undertaking wide array of combat missions providing contemporary airpower employment options, thus strengthening the National Security Paradigm of Azerbaijan.” the military said. 

Giving background on the deal, ISPR said during his visit to Pakistan in July this year, Azerbaijan President Ilham Aliyev was briefed on the combat capabilities and employment options of the JF-17 Block-III fighter aircraft.

“Pursuant to President Aliyev’s visit and on request of Government of Azerbaijan, Pakistan deployed PAF contingent at Baku to participate in ADEX-2024 showcasing the aerial prowess and static display of Pride of Pakistan JF-17 Thunder Block-III,” ISPR said. 

“During deployment, JF-17 carried out Air to Air Refueling from PAF Multi Role Tanker Transport (MRTT) aircraft deploying in a single hop to Baku, Azerbaijan, demonstrating long haul capability and reach of the PAF’s fighter jet.”

Aliyev visited the static display of JF-17 Block-III and witnessed an aerial demonstration of the planes, ISPR added, “showcasing the agility and maneuverability of the fighter jet alongside the professional competence of PAF pilots.”


Pakistan stock market crosses record 174,000 points during intraday trading

Updated 29 December 2025
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Pakistan stock market crosses record 174,000 points during intraday trading

  • Pakistan Finance Adviser Khurram Schehzad says stock market’s equity investor base has increased by over 120,000 in last 18 months
  • Official says stock market’s record levels reflect growing investor confidence supported by continued macro stability and key reforms

ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed a record 174,000 points on Monday, Finance Adviser Khurram Schehzad said, marking a strong start to the business week. 

According to the data available on the PSX’s official website, the KSE-100 benchmark reported 174,411.72 points during the intraday trading on Monday morning. 

“Another milestone for Pakistan’s equity market,” Schehzad wrote on social media platform X. “The KSE-100 Index has crossed 174,400 points, marking yet another record high.”

Pointing out the stock market’s achievements this year, Schehzad said the PSX has delivered 50 percent plus returns in US dollar terms to investors since January this year, “making it one of the best markets in Asia.”

He noted that investors’ participation in the PSX is rising fast, adding that the equity investor base has increased by over 120,000 to cross the 450,000 figure in the last 18 months, marking a 37 percent increase. 

“These record levels reflect growing investor confidence, supported by continued macro stability, key reforms, and improving prospects for more sustainable, higher future growth,” he said. 

Pakistan’s stocks have surged in recent years, marking a strong performance this year as Islamabad moves to consolidate its financial recovery after years of economic turbulence, which saw it on the verge of a sovereign default in June 2023. 

Pakistan’s foreign exchange reserves have surged past the $21 billion mark, as per the central bank’s latest data. 

In recent years, the South Asian country has also implemented tough structural reforms under the International Monetary Fund (IMF) loan programs, aimed at reducing fiscal deficits and restoring investor confidence.