ISLAMABAD:
The federal government, in pursuance of the historic defence agreement between Pakistan and Saudi Arabia, has constituted an 18-member high-level committee. The task of the committee is to lead economic negotiations between the two nations under the Pakistan–Saudi Arabia Economic Framework, the government notification said.
As per the notification, the committee, formed by Prime Minister Shehbaz Sharif, will supervise discussions aimed at expanding cooperation beyond defence and energy to include environmental protection and climate stability.
The committee will be co-chaired by Federal Minister for Climate Change Senator Musadik Masood Malik and Special Investment Facilitation Council (SIFC) National Coordinator Lt. Gen. Sarfraz Ahmed.
Other members include Federal Minister for Economic Affairs, Ahad Cheema; Minister for Commerce, Jam Kamal Khan; Minister for Energy, Awais Leghari; Minister for Food Security, Rana Tanveer Hussain; Minister for Information Technology, Shaza Fatima Khawaja; and Minister for Communications, Abdul Aleem Khan. Senior officials such as SECP Chairman, Akif Saeed and State Bank Deputy Governor Dr Inayat Hussain are also part of the team.
The committee will also include representatives from the State Bank of Pakistan (SBP), the Federal Board of Revenue (FBR), the Securities and Exchange Commission of Pakistan (SECP), and the Pakistani Embassy in Riyadh to ensure comprehensive coordination.
According to the notification, the co-chairs will form dedicated teams to conduct rapid negotiations with their Saudi counterparts. All members have been instructed to ensure their availability starting October 6, 2025.
The establishment of the committee reflects Pakistan’s intention to broaden bilateral cooperation with Saudi Arabia beyond traditional sectors. The inclusion of both civilian and military officials aims to ensure close coordination between economic diplomacy and defence institutions.
The Prime Minister’s Office has directed the committee to expedite negotiations with Saudi Arabia. It also instructed that travel approvals for any related meetings be processed on the same day, within one hour. The SIFC will facilitate the committee’s operations and send travel recommendations to the Prime Minister’s Office for swift approval.
The committee may induct additional members when necessary and will submit performance reports every fifteen days to the prime minister.
Sources said that during upcoming talks, Pakistan is expected to request renewed Saudi investment in the oil and agriculture sectors under a ‘buy-back’ model.
Islamabad also plans to enhance Pakistan’s exports to reduce $3 billion trade deficit currently in Saudi Arabia’s favour. The long-delayed oil refinery project, pending for nearly a decade, is also likely to be discussed.
They added that Prime Minister Shehbaz Sharif is expected to undertake an official visit to Saudi Arabia in the last week of October to finalize economic agreements under the new bilateral framework.
