ISLAMABAD: Pakistan Navy’s PNS Zulfiqar conducted a joint exercise with South Korea’s Wang Geon ship in the Arabian Sea on Wednesday, the navy said, with the drill aimed at intensifying efforts to deter illicit maritime activities such as piracy and drug trafficking. 

Both ships took part in the exercise under the task forces of the Combined Maritime Forces (CMF), CTF-150 and CTF-151, respectively. The CMF is a 46-nation naval partnership, which exists to promote security, stability and prosperity worldwide. 

Pakistan Navy said the Passage Exercise included tactical maneuvers and communication drills, adding that these were aimed at enhancing operational interoperability and fostering professional ties between the two navies. 

“CTF-150 and CTF-151 focus on deterring illicit maritime activities such as drug trafficking and piracy, which threaten security in international waters,” the navy said in a statement. 

Pakistan said the exercise demonstrated both navies’ commitment to uphold maritime security, support lawful activities at sea and promote stability and cooperation in the region.

“Pakistan and the Republic of Korea consistently contribute ships and aircraft to maritime security efforts under the CMF banner,” the navy said.

“This collaboration is particularly valuable for building mutual understanding and operational synergy.”

Pakistan Navy regularly collaborates and holds joint military exercises with allies and countries that are part of the CMF to deter piracy, drug trafficking and other illicit maritime activities. 
 

KARACHI: Inflation in Pakistan is expected to slow to 5.8 percent-6.8 percent in November, and then further to 5.6 percent-6.5 percent in December, the finance ministry said in its monthly economic report on Wednesday.

The South Asian country slashed interest rates by 250 basis points earlier in November in a bid to revive a sluggish economy amid a big drop in the rate of inflation.

Inflation clocked in at 7.2 percent in October, a sharp drop from a multi-decade high of nearly 40 percent in May 2023.