Saudi crown prince reaffirms strong support for financially struggling Pakistan

Saudi Crown Prince and de facto ruler Mohammad bin Salman reiterated his unwavering commitment to extending comprehensive support to Pakistan amidst its challenging economic circumstances. In a telephone conversation with newly-elected Prime Minister Shehbaz Sharif, the Crown Prince assured Pakistan of Saudi Arabia’s steadfast backing, acknowledging the nation’s current economic struggles.

In recent years, Riyadh has demonstrated its solidarity with cash-strapped Pakistan by depositing substantial amounts of funds, thereby bolstering the country’s dwindling foreign reserves. Notably, Saudi Arabia reaffirmed its support by extending the rollover of a USD 3 billion deposit at the State Bank of Pakistan until the end of December 2024.

Prime Minister Shehbaz Sharif, reciprocating the Crown Prince’s sentiments, expressed profound gratitude for Saudi Arabia’s enduring support. Emphasizing the deep-rooted and fraternal relations between the two nations, he underscored Pakistan’s pride in its historic ties with Saudi Arabia and highlighted their consistent solidarity through various challenges.

The Prime Minister also conveyed heartfelt wishes for the health and well-being of the Custodian of the Two Holy Mosques, King Salman bin Abdul Aziz, expressing the profound respect and admiration of the Pakistani people for His Majesty and the Crown Prince.

Moreover, Shehbaz Sharif articulated his eagerness to collaborate closely with HRH Crown Prince Mohammed bin Salman to elevate the longstanding Pakistan-Saudi relationship into a comprehensive strategic partnership, aimed at fostering mutual prosperity and development.

This reaffirmation of support comes in the wake of a recent meeting between Saudi Ambassador Nawaf bin Saeed Ahmad Al-Malkiy and Prime Minister Shehbaz Sharif, where the Ambassador extended an invitation for the Prime Minister to visit Saudi Arabia. During the meeting, the Ambassador reiterated Saudi Arabia’s commitment to standing by Pakistan as a reliable partner in its journey towards building a stronger and more prosperous future.

The enduring relationship between Pakistan and Saudi Arabia, marked by mutual respect and shared aspirations for regional stability, is exemplified through ongoing support and dialogue. Rooted in historical ties and cultural affinity, both nations have consistently stood by each other, extending assistance during times of economic strain and advocating for each other’s security interests on the global stage. This partnership extends beyond bilateral exchanges to encompass cooperation in addressing regional challenges, contributing to peace and prosperity in the Middle East and South Asia.