ISLAMABAD: Pakistan-hosted AMAN-25 multinational naval exercise, kicked off in Karachi on Friday, is ongoing in full swing, with participating naval forces performing counterterrorism drills at sea to ensure maritime security.
Pakistan Navy has conducted the AMAN maritime exercise every two years since 2007 under the theme “Together For Peace,” involving ships, aircraft and special operations forces.
Naval troops and special forces from more than 60 countries have been taking part in the exercise that involves several counterterrorism drills at sea, according to Pakistan Navy officials.
“Today, [Feb. 9], it was the demonstration of maritime counter-terrorism [drills] which means that we conduct multiple operations out at sea which include the VBSS [visit, board, search, and seizure] operations, and the combat search and rescue operations and exfiltration and infiltration, including the amphibious operations,” Pakistan Navy’s Lt. Commander Nauman Majeeb told Reuters on Sunday.
“So, actually, today was the day where we demonstrated all these activities collectively in one, complete show.”
This year’s exercise, being held on Feb. 7-11, features the inaugural AMAN Dialogue, themed “Secure Seas, Prosperous Future,” with a focus on security challenges in the Indian Ocean, including strategic competition, piracy, narco-trafficking, non-state actors, emerging technologies such as AI and unmanned systems, and the need for global collaboration in maritime domain.
“The global economic system is almost wholly dependent upon unhindered activity in the maritime domain,” Pakistan’s Defense Minister Khawaja Asif said at an event to mark the opening of the dialogue. “The uninterrupted use of seas and oceans remain the strategic interests of all nations.”
Asif urged participating nations to synergize their efforts to extract greater economic gains, saying that the maritime domain is at a “critical crossroads.”
“Our oceans carrying over 80 percent of global trade represent not only shipping lanes but the arteries of global prosperity,” the minister said, noting that the Indian Ocean alone holds over 50 percent of global oil and gas reserves.
Pakistan’s AMAN-25 naval exercise ongoing in Karachi with counter-terrorism drills
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Pakistan’s AMAN-25 naval exercise ongoing in Karachi with counter-terrorism drills
- Pakistan Navy has conducted the AMAN maritime exercise every two years since 2007 under the theme ‘Together For Peace’
- Naval and special forces from over 100 nations have been taking part in the exercise, involving several operations at sea
79 foreign firms, including Middle Eastern investors, enter Pakistan in three years — SECP
- Foreign firms invested about $145 million across energy, logistics, IT and agriculture
- Pakistani regulator says 19 companies exited market over the same three-year period
KARACHI: Middle Eastern energy and logistics companies including Saudi Aramco, Wafi Energy and DP World expanded their footprint in Pakistan, as 79 new foreign firms commenced operations in the country over the past three years, according to an official statement released on Tuesday.
The figures come as Pakistan seeks to rebuild investor confidence and attract foreign capital to shore up its economy after years of financial turbulence that saw foreign currency reserves shrink, the rupee weaken sharply and inflation surge. Islamabad has been pursuing structural reforms and courting overseas partners to stabilize growth and ease external financing pressures.
“79 new foreign companies commenced operations in Pakistan over the past three years, while foreign firms invested Rs 40.7 billion [$145 million] in key sectors during the same period,” the Securities and Exchange of Pakistan (SECP) said in a statement.
“A total of 61 foreign companies also carried out shareholding transactions involving local entities,” it added. “Of the 61 shareholding transactions, 29 involved transfers to other foreign companies, four to foreign individual investors, 20 to local individual investors, and eight to local corporate entities.”
According to the regulator, several transactions were linked to global corporate restructuring among multinational companies. Saudi Arabia’s Wafi Energy acquired Shell Pakistan’s operations, while Dubai-based PTA Global Holdings secured a majority stake in Lotte Chemical Pakistan.
Saudi Aramco purchased a 40 percent equity stake in Gas & Oil Pakistan Limited, and Switzerland’s Gunvor Group alongside Total Parco Limited acquired equal stakes in TotalEnergies Pakistan.
In logistics, UAE-based DP World entered into a joint venture with Pakistan’s National Logistics Corporation, while investments in the technology and telecommunications sectors included acquisitions and stake purchases involving regional and international firms.
The statement said 1,157 foreign companies are currently registered and operational in Pakistan, with 19 exits recorded over the past three years.
