Pakistan forms high-level committee for economic talks with Saudi Arabia

Pakistan has formed a high-level committee to lead economic talks with Saudi Arabia, days after the two countries signed a landmark defense pact.

The committee, officially notified on Sunday, will oversee negotiations under the Pakistan-Saudi Arabia Economic Framework. The decision followed a high-level review meeting held on October 3.

Minister for Climate Change Musadik Masood Malik will co-chair the panel, in a move that signals an expansion of cooperation beyond defense and energy to include climate resilience and environmental projects.

The body includes ministers from the power, commerce, industries, communication and agriculture portfolios. Senior officials from the Securities and Exchange Commission of Pakistan, State Bank of Pakistan, Federal Board of Revenue, and the Pakistani Embassy in Riyadh are also part of the group. Lt. Gen. Sarfraz Ahmad, coordinator of the Special Investment Facilitation Council, has been added to strengthen civil-military coordination in economic diplomacy.

The Prime Minister’s Office has directed the committee to fast-track talks, with all members required to be available from October 6. It also ordered that all travel approvals for Saudi-related meetings be cleared within one hour on the same working day.

Sources told Nukta that Pakistan will renew its request for Saudi buyback investments in the petroleum and agriculture sectors. Islamabad is also expected to push for more exports to the kingdom, as current trade reflects a $3 billion deficit in Saudi Arabia’s favor.

Negotiations are likely to include Saudi investment in a long-delayed oil refinery project, first proposed more than a decade ago.

Prime Minister Shehbaz Sharif is expected to visit Saudi Arabia in the last week of October to finalize key economic agreements.

Saudi Arabia has previously pledged over $25 billion in investments in Pakistan, but inflows have remained limited. Analysts say political instability, regulatory hurdles and concerns over policy continuity have discouraged Riyadh from moving beyond pledges.