ISLAMABAD: Chief of the Pakistan Naval Staff, Admiral Naveed Ashraf, has said this month eight Hangor-class submarines built for Pakistan by China would be included in the South Asian country’s fleet “very soon.”
The joint construction of eight Hangor-class submarines is a key project in China-Pakistan naval cooperation. This type of submarine is equipped with the latest weapons and sensors and with an air independent propulsion (AIP) system on board, the submarine has significantly enhanced submerged endurance capabilities.
Pakistan signed a contract with China to procure eight Hangor-class conventional submarines in 2015, with the first four to be constructed by China and the other four to be assembled by Pakistan under a technology transfer agreement. The plan was that Pakistan will obtain the eight advanced submarines between 2022 and 2028. In December 2021, the fifth Hangor-class conventional submarine, also the first one built in Pakistan, officially received a steel cutting ceremony.
In an interview to China’s Global Times newspaper this month, Ashraf said the Hangor-class submarines would “significantly enhance” Pakistan’s naval capabilities, improving stealth, maneuverability and firepower.
“The project is proceeding as per the timeline. We expect that these submarines will join the Pakistan Navy fleet very soon,” Ashraf said.
The initial Hangor delivery timetable would have seen the four Chinese-built submarines delivered by 2023. But there have been widespread reports that Germany had refused to approve export licenses for its MTU 396 diesel engine, which the submarine was designed to use. The German government had also declined to grant export licenses for its engines in regard to Thailand’s order of the S-26T, a variant of the Chinese Type 039B submarine. The Thai deal eventually fell through.
Neither Germany nor Pakistan have confirmed whether export clearance was ultimately approved or denied.
When Pakistan’s Ministry of Defense (MoD) ordered the eight submarines from China in 2015 at an approximate cost of $4–5 billion, it was the largest arms export contract in China’s military history.
Eight Chinese Hangor submarines to enter Pakistan fleet ‘very soon’— naval chief
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Eight Chinese Hangor submarines to enter Pakistan fleet ‘very soon’— naval chief
- Joint construction of eight Hangor-class submarines is key project in China-Pakistan naval cooperation
- Pakistan signed agreement with China to procure eight Hangor-class conventional submarines in 2015
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.
