In call with MBS, PM Shehbaz says Pakistan, Saudi Arabia ready to ink economic package

• PM Shehbaz holds phone call with Saudi crown prince: PMO.
• MBS praises untiring efforts of CDF Munir over Islamabad deal.
• PM reiterates invitation to MBS to undertake visit to Pakistan.

Prime Minister Shehbaz Sharif said on Friday that Pakistan and Saudi Arabia were ready to finalise and sign a comprehensive economic package under the patronage of Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.

The prime minister stated this during a telephonic conversation with Saudi Crown Prince Mohammed bin Salman, according to a statement issued by the PMO.

Pakistan and Saudi Arabia signed the landmark Strategic Mutual Defence Agreement (SMDA) in September last year, which treats an attack on either nation as an act of aggression against both.

In April this year, Pakistan also received $3 billion from the Saudi Ministry of Finance, while Riyadh extended its existing $5 billion financial facility for another three years.

During the warm and cordial telephonic conversation, the prime minister congratulated the Saudi crown prince on the signing of the historic Islamabad Peace Deal, the Prime Minister's Office said in a statement.

The prime minister expressed deep appreciation to the Saudi crown prince, who is popularly referred to as MBS, for his steadfast and consistent support for Pakistan’s peace efforts and paid tribute to him for leading the Kingdom of Saudi Arabia with great wisdom and sagacity throughout this crisis.

PM Shehbaz said the peace deal between Iran and the United States was made possible within a few months due to Saudi Arabia’s strong support, along with backing from other Gulf states.

“It was only with the Kingdom of Saudi Arabia’s strong support, as well as the support of other Gulf states, that the peace deal between Iran and the US was signed within a few months,” the PM's office quoted him as saying.

MBS congratulated PM Shebbaz and praised the untiring efforts of Chief of Defence Forces and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir, that led to the successful signing of the peace deal.

Both leaders agreed that the next phase of negotiations between Iran and the United States should proceed smoothly, with outstanding issues resolved through dialogue and diplomacy. They also stressed the need for vigilance against any attempts to derail the negotiation process.

While expressing satisfaction on the excellent state of bilateral relations between Pakistan and the Kingdom of Saudi Arabia, the prime minister also reiterated his invitation to His Royal Highness to undertake an official visit to Pakistan at his kind convenience.

Availing himself of this opportunity, PM Shebbaz also conveyed his respectful regards and good wishes to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.

The two leaders agreed to continue their close coordination in the days ahead.

Islamabad MoU

US President Donald Trump and his Iranian counterpart Masoud Pezeshkian signed an interim peace deal this week to end a war that began on February 28 with US-Israeli strikes that assassinated supreme leader Ayatollah Ali Khamenei.

The conflict quickly spiralled into a regional conflict that has killed more than 7,000 people, mostly in Iran and Lebanon; driven up energy prices; renewed inflationary pressures and sparked concerns about a major food supply crisis in developing countries.

Pakistan emerged as a key intermediary between Iran and the United States to secure an interim and host negotiations to end the war in the Middle East.

A day earlier, Prime Minister Shehbaz Sharif signed the Islamabad Memorandum of Understanding (MoU) as mediator, after US President Donald Trump and Iranian President Masoud Pezeshkian, bringing the peace deal into effect.

According to a statement issued by the Prime Minister's Office, the premier signed the Islamabad MoU as mediator, while US President Donald Trump and Iranian President Masoud Pezeshkian signed the document on behalf of their respective countries.