Monday, August 3, 2020

Pakistan to buy eight submarines from China in secret deal

Recommended

Serbia buys Chinese air defense missile system

Serbia is buying newest Chinese-made FK-3 air defense missile system, according to local media. Balkanska bezbednosna mreza (Balkan Security Network), quoting state-owned arms import company...

China ‘strongly dissatisfied’ with US military personnel deployment to Taiwan

On Thursday, the Ministry of National Defense of the People's Republic of China has reported that the Chinese military is strongly dissatisfied with and...

Chinese new bombers conducted high-intensity training in South China Sea

Chinese newest H-6J bombers successfully conducted high-intensity training in the South China Sea, Chinese Ministry of Defense spokesperson Ren Guoqiang told a press conference...

Chinese People’s Liberation Army receives battalion set of new Type 99A2 tanks

The 81st Group Army of the People's Liberation Army has recently taken delivery of what appears to be a battalion set of Type 99A2...

Smart weapons and their role in the technological transformation of modern defense infrastructure

Accelerating technological advancement, especially in the digital spectrum, has asserted its impact on nearly all realms of life. Having its roots in the commercial...

Pakistan and China on Thursday agreed to a multi-billion dollar deal that would see Beijing provide eight submarines to the Pakistan Navy, in an agreement that analysts are calling the largest-ever defence deal China has agreed to with any country.

Despite the magnitude of the deal, government officials did not provide any details, even declining to confirm the size of the transaction. However, the composition of the Chinese delegation with which the agreement was reached suggests that the arrangements have been struck for purchase of eight submarines.

“Pakistan and China have reached an understanding on matters of defence cooperation relating to Pakistan Navy,” announced the finance ministry after a meeting with Chinese authorities. “Financial arrangements to this effect were also concluded.”According to a briefing that the defence ministry gave to parliament in April this year, Pakistan was negotiating a deal for acquisition of submarines from China. In the same month, the UK-based Financial Times, citing a retired senior official, claimed in a report that the contract could be worth $4 billion to $5 billion, the largest defence deal ever by China.


- ADVERTISEMENT - CONTINUE READING BELOW -

Sources in the finance ministry said that Pakistan would make down payments to China in four installments and the delivery of the submarines will be made in the coming years.

The financial arrangements were agreed during a meeting between Finance Minister Ishaq Dar and Xu Ziqin, President of the Chinese state-owned China Shipbuilding & Offshore International Company Limited (CSOC).

Finance Secretary Waqar Masood and Economic Affairs Secretary Saleem Sethi assisted Dar. Chinese Ambassador Sun Weidong also participated in the negotiations.

CSOC is the trade arm of China Shipbuilding Industry Corporation (CSIC) and its main business is the manufacture, repair, lease, and sales of military ships and submarines.

Sources in the finance ministry said that the agreement is still subject to final review form higher authorities in Beijing, following which a formal agreement will be signed. The press release issued by the ministry after the event was vague. According to the release, Dar said that the visit by the CSOC delegation to Pakistan would enhance and further strengthen their bilateral economic and defence cooperation.

The release quoted Xu thanking Dar for his contribution in concluding the arrangements, saying it was reflective of the deep rooted China-Pakistan friendship.

Last month, both the countries had also signed an agreement for construction of six patrol vessels for the Pakistan Maritime Security Agency (PMSA). The agreement had been signed by China Ship Trading Company (CSTC) and the Pakistani defence production ministry. According to the agreement, four ships will be constructed in China while the remaining two will be built at Karachi’s Shipyard under a transfer of technology agreement.

tribune.com.pk

If you wish to report grammatical or factual errors within our news articles, you can let us know by using the online feedback form.

Executive Editor

Recommended

Serbia buys Chinese air defense missile system

Serbia is buying newest Chinese-made FK-3 air defense missile system, according to local media. Balkanska bezbednosna mreza (Balkan Security Network), quoting state-owned arms import company...

China ‘strongly dissatisfied’ with US military personnel deployment to Taiwan

On Thursday, the Ministry of National Defense of the People's Republic of China has reported that the Chinese military is strongly dissatisfied with and...

Chinese new bombers conducted high-intensity training in South China Sea

Chinese newest H-6J bombers successfully conducted high-intensity training in the South China Sea, Chinese Ministry of Defense spokesperson Ren Guoqiang told a press conference...

Chinese People’s Liberation Army receives battalion set of new Type 99A2 tanks

The 81st Group Army of the People's Liberation Army has recently taken delivery of what appears to be a battalion set of Type 99A2...

Smart weapons and their role in the technological transformation of modern defense infrastructure

Accelerating technological advancement, especially in the digital spectrum, has asserted its impact on nearly all realms of life. Having its roots in the commercial...

TRENDING NOW

Related News

Blue Angels receives first F/A-18E Super Hornet

The U.S. Navy Flight Demonstration Squadron, the Blue Angels, has received first Blue Angels F/A-18 Super Hornet fighter aircraft. On Tuesday, the Navy Flight Demonstration...

Turkey deploys T129 attack helicopters to Azerbaijan

The Turkish Armed Forces have deployed T129 attack helicopters to Azerbaijan, according to the Ministry Of Defence Of Azerbaijan. According to a recent service news...

Royal Air Force fighter jets intercept Russian military aircraft

Royal Air Force Typhoon fighter jets, from 6 Squadron, RAF Lossiemouth, intercepted Russian military aircraft while they were flying over the Baltic Sea. The Typhoons...

China ‘strongly dissatisfied’ with US military personnel deployment to Taiwan

On Thursday, the Ministry of National Defense of the People's Republic of China has reported that the Chinese military is strongly dissatisfied with and...