PM Shehbaz meets Saudi Deputy Interior Minister, highlights historic ties

PM Shehbaz expressed satisfaction with the implementation of Saudi investment MoUs worth $2.8bn in Pakistan.

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Prime Minister Shehbaz Sharif held a meeting with Saudi Arabia's Deputy Interior Minister, Nasser bin Abdul Aziz Al Dawood, in Islamabad, during which the premier acknowledged the historic fraternal relationship between the two countries.

PM Shehbaz thanked the Saudi leadership for their unwavering support and emphasised the significance of the bilateral investment in fostering mutually beneficial cooperation.

Prime Minister Shehbaz Sharif also expressed satisfaction over the progress made in implementing the $2.8 billion investment deal with Saudi Arabia, which was formalised through bilateral Memoranda of Understanding (MoUs).

The investment is set to strengthen Pakistan-Saudi ties in multiple sectors, particularly economic and defence cooperation.

"The $2.8 billion investment reflects the growing economic cooperation between our two nations," Shehbaz said. "We are committed to deepening our ties, particularly in the defence and security sectors, which are of critical importance to both countries."

The Prime Minister also discussed the current situation in Gaza and broader Middle Eastern issues with the Saudi delegation. He praised Saudi Arabia's leadership in convening the recent Arab-Islamic Summit in Riyadh, which addressed the ongoing violence in Gaza.

Shehbaz Sharif commended Crown Prince Mohammed bin Salman for his efforts to unite the Muslim world and seek an end to the violence, which he described as "genocidal actions" by Israel.

Shehbaz Sharif reiterated his invitation to Crown Prince Mohammed bin Salman to visit Pakistan at the earliest opportunity, stating that the people of Pakistan were eager to welcome him warmly. He also expressed his hope that the Saudi leadership would continue to work alongside Pakistan to advance mutual interests and strengthen regional stability.

In addition to discussing economic and security cooperation, the two sides also explored new avenues for collaboration. The meeting underscored the importance of strengthening ties in various sectors, particularly in the context of shared geopolitical and economic interests.

Prime Minister Shehbaz Sharif concluded the meeting by reaffirming Pakistan’s commitment to its longstanding partnership with Saudi Arabia, emphasising that both nations would continue to work closely together in the coming years to enhance bilateral relations.

Shehbaz pushes for Saudi loan closure

Prime Minister Shehbaz Sharif on Monday sought an early closure of a $1.2 billion Saudi loan deal and directed the tax machinery to present a plan this week to bridge a yawning gap in the revenue collection, in order to keep the International Monetary Fund (IMF) programme on track.

During a meeting on the outcomes of an unscheduled visit by the IMF mission to Pakistan, the prime minister was informed by the officials concerned that there were no major concerns but a few issues required early resolution.

The issues included the shortfall in the tax collection by the Federal Board of Revenue (FBR), external financing gap and the full implementation of the National Fiscal Pact, according to the participants of the meeting.

A press release issued by the Prime Minister's Office said that Shehbaz received a briefing from the finance ministry regarding the country's economy and the meeting with the IMF delegation, which visited Pakistan last week.