Saudi Arabia has announced a $1.2 billion oil facility for Pakistan, with monthly supplies worth $100 million set to continue until February 2026. This initiative, starting this month, aims to bolster Pakistan’s economy and energy sector.
PM Shehbaz Sharif’s Visit to Saudi Arabia
Prime Minister Shehbaz Sharif’s visit to Saudi Arabia will bring further key economic announcements.
During a high-level meeting at the Royal Palace in Riyadh, PM Shehbaz met with Saudi Crown Prince and Prime Minister Mohammed bin Salman. The meeting was also attended by Pakistan’s Army Chief General Syed Asim Munir, Foreign Minister Ishaq Dar, and Punjab Chief Minister Maryam Nawaz.
The discussions focused on strengthening trade, investment, energy, and defence cooperation. Both sides expressed satisfaction over growing economic ties, with Shehbaz Sharif highlighting how strong bilateral relations are evolving into economic partnerships.
Focus on Regional Security and Cooperation
Both leaders reaffirmed their commitment to tackling regional security challenges through enhanced defence and security collaboration. They also reviewed emerging geopolitical issues, agreeing to work together to promote peace, stability, and prosperity in the region.
Crown Prince Mohammed bin Salman acknowledged the valuable contributions of the Pakistani community in Saudi Arabia and pledged to enhance welfare initiatives for them.
Additionally, both nations emphasized the importance of cultural exchanges, educational collaboration, and stronger people-to-people connections to further solidify their ties.
