The government of Pakistan has provided a sovereign guarantee for the sale of three JF-17 aircraft to Nigerian Air Force against a sum of $184.3 million.
The Economic Coordination Committee (ECC) of the Cabinet has approved the issuance of a certificate of sovereign guarantee to show commitment for the aircraft sale to the Nigerian Air Force, in line with a contract signed between the two sides recently, Express Tribune newspaper reported today.
The ministry further informed the economic decision-making committee that the aircraft manufacturer, Pakistan Aeronautics Complex, Kamra had signed a contract for the sale of three JF-17 aircraft and associated package to Nigerian Air Force.
According to Article 6.1 of the contract, PAC Kamra shall present the sovereign bank guarantee from the Government of Pakistan prior to the release of payment by Nigeria. No bank loan or credit financing is involved in this case, the ECC was told.
The ministry told the ECC that the Nigerian authorities had been informed that the Government of Pakistan would issue a certificate of sovereign guarantee rather than a certificate of sovereign bank guarantee, and the Nigerians had agreed to it.
The guarantee is the surety from the Government of Pakistan that contracted products and related equipment would be provided to the purchaser by PAC Kamra.
Eyeing a possible sale of fighter jets to Poland, the Pakistan Air Force (PAF) performed an aerial display with its JF-17 Thunder aircraft during the opening day of Radom International Airshow at Radom-Sakdu Airport, Poland on Sunday. Painted in the colour scheme of Pakistans national flag, the JF-17 roared in the skies of Poland
The Nigerian Air Force (NAF) on Sunday took delivery of the second batch of Super Mushshak trainer aircraft that the Federal Government had since ordered from Pakistan. The newly-delivered aircraft, which are capable of being used for acrobatics training, are all brand new and fitted with digital glass cockpit
Pakistani Minister for Defense Production Rana Tanveer Hussain said that Turkey is considering JF-17 fighter jets. “They are considering this aircraft, because they know in detail about this aircraft
Nigerian Federal Budget has confirmed an order for three JF-17 fighter aircraft along with 10 Super Mushak trainers from Pakistan. Although there have been multiple reports of Nigerian officials and state documents listing the purchase, this is first-hand confirmation from the Government of Nigeria, Quwa reported Thursday
China is working on making the Block III version of its JF-17 fighter jet to match the latest version of the United States F-16 V aircraft which has become a huge sales success in a relatively short span of time. The JF-17 is made in Pakistan with technology supplied by Chengdu Aircraft Co
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Pakistan has selected the Slovakian-made Turra 30 combat module for its Viper infantry fighting vehicle (IFV) being developed by local firm, Heavy Industries Taxila (HIT). HIT unveiled a prototype of Viper IFV at the IDEAS 2018 held in Karachi
Iranian and Malaysian defence officials visiting the IDEAS 2018 aerospace exhibition in Karachi have expressed interest in the JF-17 Thunder fighter jet made in Pakistan with Chinese technology. Iranian Islamic Revolutionary Guard Corps (IRGC) General Qasem Soleimani visited the fighter aircraft at the exhibition, according to local media reports Thursday
The Pakistans Defense forces has unveiled an indigenous medium altitude long-range Unmanned Aerial Vehicle (UAV) at the ongoing Defense Exhibition IDEAS 2018 in Karachi. Pakistan showcased ‘Shahpar drone at the defense exhibition
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