PM Shehbaz welcomes Saudi economic support, highlights strong defense partnership

Prime Minister Shehbaz Sharif on Thursday expressed deep gratitude for Saudi Arabia’s continued support in strengthening the country’s economic stability during a meeting with Saudi Crown Prince Mohammed bin Salman in Jeddah, while reaffirming the close defense and security partnership between the two nations, according to an official statement issued by the Prime Minister’s Office (PMO) on X.

The statement comes a day after Finance Minister Muhammad Aurangzeb announced that the Kingdom of Saudi Arabia had pledged $3 billion in deposits, with disbursement expected next week. The existing $5 billion Saudi deposit will no longer be subject to the previous annual rollover agreement, but will instead be extended for a longer period.

During the meeting, the Prime Minister expressed Pakistan’s “unwavering solidarity with the Kingdom” and expressed “deep gratitude for its patience and restraint, under the sagacious leadership of His Royal Highness, during these difficult times”, the statement added.

He also acknowledged Saudi Arabia’s continued economic support. “I also expressed my sincere appreciation for the Kingdom’s continued support for Pakistan’s economic stability, while highlighting the unique defense and security relationship between our two countries,” the statement said.

In September 2025, Pakistan and Saudi Arabia signed a “Strategic Mutual Defense Agreement”, stating that “any aggression against either country will be considered aggression against both”. The agreement was signed during Prime Minister Shehbaz Sharif’s visit to Riyadh, at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud.

Pakistan has sent fighter jets and other military forces to Saudi Arabia to boost security as part of the two countries’ defense deal, the kingdom’s defense ministry confirmed on April 11.

Learn more: Pakistan in full diplomatic turmoil

Both sides reaffirmed their commitment to further strengthen what has been described as an “enduring partnership” between Islamabad and Riyadh.

The Prime Minister also briefed the Saudi leadership on Pakistan’s recent diplomatic efforts. “I reiterated Pakistan’s strong commitment to continue its efforts to encourage the United States and Iran to reach an agreement aimed at lasting peace and stability in the region,” he said, while expressing gratitude for the crown prince’s support for Pakistan’s peace initiatives.

The Prime Minister is on a three-country tour until Friday, during which he will also visit Qatar and Turkey, as part of the ongoing negotiations for peace in the Middle East.

The prime minister’s meeting with the Saudi prince comes four days after the United States and Iran failed to reach an agreement to end their war despite marathon negotiations that lasted about 21 hours. The protracted talks, aimed at ending hostilities that have left thousands dead and sent global oil prices soaring over the past six weeks, have resulted in both sides blaming each other for the impasse.

On April 11, the American and Iranian delegations arrived in Pakistan for conclusive negotiations after an immediate two-week ceasefire “everywhere, including Lebanon”, announced by Prime Minister Shehbaz, who then invited the two countries’ delegations to Islamabad.

Read also: FM Dar calls on US, Iran to honor ceasefire pledge after talks end without deal

The United States and Israel launched a joint offensive against Iran on February 28, killing thousands of people in Iran, including then-supreme leader Ayatollah Ali Khamenei, and injuring tens of thousands, including civilian areas, including residential buildings and religious sites.

The conflict has also expanded geographically. Iran responded with drone and missile strikes targeting Israel as well as Jordan, Iraq and Gulf countries hosting US military assets. It also restricted the movement of ships through the Strait of Hormuz.

Prime Minister Shehbaz also traveled to Madinah from Jeddah as part of his official visit to Saudi Arabia, according to a statement issued by the Prime Minister’s Office. Upon arrival, the Prime Minister and his delegation were received by the Governor of Medina, Prince Salman bin Sultan bin Abdulaziz Al Saud.

During his stay, the Prime Minister visited Masjid an-Nabawi, where he prayed and implored for the progress and prosperity of Pakistan, as well as peace and harmony in the world.

The statement said special arrangements were made for the Prime Minister and his delegation, including access to the Rawdah of the Prophet Muhammad (peace be upon him), where he offered prayers and sent greetings to the Prophet Muhammad (peace be upon him).

The prime minister is expected to conclude his Saudi visit and leave Medina for Doha, where he will hold a bilateral meeting with the Emir of Qatar, Tamim bin Hamad Al Thani. The visit is part of the Prime Minister’s wider diplomatic engagements in the region, the Prime Minister’s Office statement added.