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.
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.
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.
