Saudi Arabia has announced that it will provide $1.2 billion worth of oil to Pakistan this year.

Under the agreement, $100 million worth of oil will be supplied monthly until February 2026.

Sources indicate that Prime Minister Shehbaz Sharif’s visit to Saudi Arabia is expected to bring more key announcements. This oil facility, which will begin this month, is part of a broader effort to support Pakistan’s economy and energy sector.

PM Shehbaz meets Saudi Crown Prince

During a high-level meeting at the Royal Palace in Riyadh, Prime Minister Shehbaz Sharif met Saudi Crown Prince and Prime Minister Mohammed bin Salman.

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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 leaders reaffirmed their commitment to strengthening trade, military, and economic ties, with Shehbaz Sharif highlighting how strong bilateral relations are transforming into economic partnerships.

Discussions focused on investment, trade, energy and defence collaboration. Both sides expressed satisfaction over the expanding economic cooperation between the two nations.

PM Shehbaz Sharif praised Saudi Arabia’s commitment to increasing investment in key sectors, recognising it as a crucial step towards Pakistan’s economic growth and stability.

Focus on regional security

Both leaders emphasised joint efforts to tackle regional security challenges, reaffirming their dedication to strengthening defence and security cooperation.

They also discussed emerging regional issues and the broader geopolitical landscape, agreeing to work together at all levels to promote peace, stability, and prosperity in the region.

Crown Prince Mohammed bin Salman acknowledged the significant contributions of the Pakistani community in Saudi Arabia and agreed to enhance welfare initiatives for them.

Additionally, both sides stressed the importance of cultural exchanges, educational collaboration, and stronger people-to-people connections to further solidify ties.

Reiterating their shared vision for development and prosperity, both leaders vowed to elevate Pakistan-Saudi relations to new heights.

Umrah pilgrimage

Upon his arrival in Jeddah, Prime Minister Shehbaz Sharif was welcomed by Jeddah Governor Prince Saud bin Abdullah bin Jalawi.

Later in Makkah, he was received by Deputy Governor Saud bin Mishal, where he is also set to perform Umrah.

PM Shehbaz’s statement on social media

Following the meeting, PM Shehbaz Sharif shared a message on social media platform X, highlighting his constructive discussions with the Saudi Crown Prince.

He praised Saudi Arabia’s role in promoting peace in the Middle East and Ukraine and expressed gratitude for the continued support from the Kingdom.

The discussions covered investments, energy collaboration, and defence cooperation, marking another step towards a deeper and more strategic partnership between the two nations.