ISLAMABAD: Pakistan has set up an 18-member committee to lead economic engagements and negotiations with the Kingdom of Saudi Arabia, according to a notification issued by the Prime Minister’s Office on Sunday.
The committee will be co-chaired by Climate Change Minister Musadik Malik and the National Coordinator for the Special Investment Facilitation Council (SIFC), Lieutenant General Sarfraz Ahmad. The notification stated that the co-chairs would form core and negotiation teams to work with their Saudi counterparts, ensuring swift execution of assigned tasks.
Prime Minister Shehbaz Sharif directed that all travel proposals for committee members between Pakistan and Saudi Arabia be processed and approved within one hour on the same working day.
The committee includes Economic Affairs Minister Ahad Khan Cheema, Special Assistant to the Prime Minister for Industries and Production Haroon Akhtar Khan, Power Minister Awais Ahmed Leghari, Commerce Minister Jam Kamal Khan, Food Security Minister Rana Tanveer Hussain, Communication Minister Abdul Aleem Khan, and IT Minister Shaza Fatima Khawaja, among others.
Pakistan and Saudi Arabia share long-standing relations grounded in economic cooperation, strategic partnership, and shared faith. The kingdom remains a vital economic ally, providing both financial support and energy supplies to Islamabad.
In February, Riyadh extended a $1.2 billion deferred oil facility to Pakistan, releasing $100 million monthly until February 2026. Islamabad is also pursuing a rollover of $5 billion in Saudi loans, maturing between December 2025 and June 2026, at a concessional rate of four percent.
A Saudi business delegation, led by Prince Mansour bin Mohammad al-Saud, is expected to arrive in Pakistan this week to initiate investment talks. Early plans may involve about $1 billion in investments, potentially through a new joint fund aimed at deepening economic collaboration.
The delegation is expected to explore opportunities in technology, sports equipment, and food and agriculture, with meetings planned with Prime Minister Shehbaz Sharif. Pakistani officials also hope to attract Saudi participation in major projects, including state-owned enterprises and the Reko Diq copper mine.
The visit follows a recent mutual defense agreement between the two nations, underscoring their growing strategic and economic alignment.
