Pakistan wants to bolster its arms exports through a new government body meant to attract foreign direct investment and ease the manner of doing business.
Bahria Boat Building Yard launched its first 12T marine assault boat at its Karachi facility as part of a technology transfer deal with a Polish company.
The move helps meet a demand by the International Monetary Fund that the country achieve a primary budget surplus of 153 billion rupees, or 0.2% of the national output for the new financial year in order to revive an IMF bailout package.
Though mainly covering salary increases, some of the extra money is earmarked for infrastructure such as the continued development of Jinnah Naval Base in Ormara, the Navy’s main operational base, and a naval air base in Turbat.
Despite having acquired key defense equipment from Ukraine since the 1990s, Russia’s invasion of the country will not cause support issues for Pakistan, as this weaponry was already being phased out, an industry source has told Defense News.