Pakistan PM Shehbaz Sharif Embarks on Official Visit to Saudi Arabia Amid Economic and Regional Shifts

Kathmandu. Amidst rising regional tensions, Pakistan is intensifying its diplomatic efforts, balancing its role in US-Iran peace initiatives while strengthening economic and strategic ties with key partners. In this context, Pakistani Prime Minister Shehbaz Sharif departed for an official visit to Saudi Arabia on Wednesday.

The Prime Minister's office stated that Sharif, accompanied by a high-level delegation, is scheduled to depart from Islamabad for Jeddah. The visit is expected to strengthen bilateral relations and facilitate high-level discussions on the regional situation.

Pakistan and Saudi Arabia have historically maintained close ties. Since the regional conflict began in February, Saudi Arabia has remained a key US ally facing potential security risks from Iran, making coordination between Islamabad and Riyadh increasingly critical.

Meanwhile, Saudi Arabia has pledged further support to bolster Pakistan's dwindling foreign exchange reserves. According to Pakistan's Ministry of Finance, Saudi Arabia has announced an additional deposit of 3 billion US dollars, which is expected to be disbursed within the coming week.

Finance and Revenue Minister Muhammad Aurangzeb stated that this assistance would significantly contribute to strengthening the country's foreign exchange reserves. He is currently in Washington for the IMF's annual spring meetings. According to him, Saudi Arabia has also decided to extend the term of a previous 5 billion dollar deposit for an indefinite period.

This support comes at a time when Pakistan has reported repaying billions of dollars in loans to Saudi Arabia's regional rival, the United Arab Emirates. This signals Pakistan's efforts to balance its economic management and external dependencies.