ISLAMABAD( The COW News Digital)– In a significant development following the recent historic defense agreement between Pakistan and Saudi Arabia, the federal government has announced the establishment of an 18-member high-level committee to expand economic cooperation.
According to the official notification, Prime Minister Shehbaz Sharif constituted the committee to oversee talks under the Pakistan-Saudi Arabia Economic Framework. The move reflects both countries’ desire to strengthen ties beyond defense and energy, extending into trade, environment, climate resilience, and agriculture.
The notification states that Senator Musadik Masood Malik, Federal Minister for Climate Change, and Lt. Gen. Sarfraz Ahmed, National Coordinator of the Special Investment Facilitation Council (SIFC), have been appointed as co-chairpersons of the committee. Other members include key ministers such as Ahsan Iqbal (Planning), Jam Kamal Khan (Commerce), Owais Leghari (Energy), Rana Tanveer Hussain (Food Security), Shaza Fatima Khawaja (IT), and Abdul Aleem Khan (Communications). Senior officials from the State Bank of Pakistan, Securities and Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR), and Pakistan’s embassy in Riyadh will also participate.
The committee is tasked with ensuring swift progress in bilateral negotiations. Members have been directed to be available starting October 6, while all travel approvals related to Saudi Arabia are to be cleared within one hour. The SIFC secretariat will facilitate coordination, and the committee is required to submit performance reports to the Prime Minister every 15 days.
Sources suggest Islamabad will push for renewed Saudi investment in Pakistan’s oil and agriculture sectors, while also seeking to enhance exports to the Kingdom. Pakistan currently faces a $3 billion trade deficit in favor of Saudi Arabia. Discussions are also expected on the long-delayed refinery project.
The committee’s creation marks a strategic shift in Pakistan-Saudi relations, aiming to bolster economic diplomacy through close civil-military cooperation. Analysts note that this development signals Islamabad’s determination to balance its defense ties with Riyadh by institutionalizing long-term economic frameworks.
Prime Minister Sharif is expected to visit Saudi Arabia later this month to finalize key economic agreements under this framework. The visit is being seen as a critical step in advancing bilateral trade, investment, and development cooperation.
