Newly-appointed Pakistani Prime Minister (PM) Shehbaz Sharif landed in Saudi Arabia for his first foreign trip, in a bid to revive bilateral ties that took a dramatic downturn under his predecessor Imran Khan.
Madinah governor Faisal Bin Salman Al Saud welcomed Sharif and his delegation, which included Minister of Foreign Affairs Bilawal Bhutto-Zardari, Minister of Finance Miftah Ismail, Minister of Information & Broadcasting Marriyum Aurangzeb, and Minister of Defence Khwaja Asif.
At the invitation of the Crown Prince of Saudi Arabia, HRH Prince Mohammed Bin Salman Bin Abdulaziz, Prime Minister Shahbaz Sharif arrived in Madinah on a 3-day official visit to Saudi Arabia. pic.twitter.com/rFoIARlsfW
— PMLN Government (@PMLNGovernment) April 28, 2022
In the run-up to the meeting, Sharif said that the visit was intended to “renew and reaffirm” the two sides’ “brotherhood and friendship.” Lauding Saudi Arabia as Pakistan’s “greatest friend,” Sharif celebrated that his first visit as PM was to Riyadh, with which he said Islamabad shares a “solid foundation of mutual trust and support.” “This reflects the high importance that Pakistan attaches to its special relationship with Saudi Arabia, which is historic in nature and strategic in significance,” he added.
Furthermore, the Pakistani PM declared, “We are profoundly grateful to Saudi Arabia for its consistent support to Pakistan in its difficult hours. For its part, Pakistan has always stood by Saudi Arabia and will always stand shoulder-to-shoulder with our Saudi brethren.” He also recognised Pakistani expatriates in the Kingdom as “key partners in further fortifying Pakistan-Saudi brotherly relations.”
Today I am embarking on a visit to Saudi Arabia to renew & reaffirm our bonds of brotherhood & friendship. I will have wide-ranging discussions with Saudi leadership. KSA is one of our greatest friends & as Custodian of the Two Holy Places, has a special place in all our hearts.
— Shehbaz Sharif (@CMShehbaz) April 28, 2022
The Pakistani Foreign Office released a statement saying that the visit would “focus on advancing economic, trade and investment ties and creation of greater opportunities for the Pakistani workforce in Saudi Arabia.” It also praised the two sides’ close ties, specifically in international and regional fora. In this regard, the release highlighted that Saudi Arabia is a part of the Organisation of Islamic Cooperation’s (OIC) Contact Group on Jammu and Kashmir (J&K).
While the Pakistani government expressed its optimism about the visit, social media posts showed that during Sharif’s visit to the Prophet’s Mosque, large crowds of Pakistani nationals gathered and chanted slogans against him, calling him a chor (thief), in support of the ousted Khan. Saudi police have already arrested several individuals in relation with the protests.
— Asad Kharal (@AsadKharal) April 28, 2022
Minister of Information & Broadcasting Marriyum Aurangzeb condemned the protesters for chanting slogans outside a holy place of worship. Indirectly blaming former PM Imran Khan for the incident, she said, “I will not name this person on this holy land because I do not want to use this land for politics. But they have destroyed the [Pakistani] society.”
Sharif’s plan to visit Saudi Arabia was also hit by controversy after he was criticised for including 16 family members as part of his entourage. It was claimed that they joined him on a chartered plane hired on state expenditure. However, Aurangzeb defended Sharif’s decision, clarifying that those travelling with the PM would be using commercial flights and bearing their own expenses.
#PICTURES: #Pakistan' Prime Minister @CMShehbaz has visited and prayed at the Prophet’s Mosque in #Madinah pic.twitter.com/VieAazWxqY
— Saudi Gazette (@Saudi_Gazette) April 28, 2022
Sharif’s visit comes at a time when Pakistan is facing the looming threat of an economic crisis, instigated by future defaults on its balance of payment and the continued deterioration of its foreign reserves. Over the past six weeks, the State Bank of Pakistan’s foreign currency reserves have dropped by $5.5 billion, bringing it to a meagre $10.8 billion. According to an economic expert cited by The News Pakistan, Pakistan would need to secure $12 billion to avert an unmanageable crisis.
To this end, Sharif has sought a $3.2 billion support package from Saudi Arabia. “We are going to request the Kingdom of Saudi Arabia to increase the deposits amount from $3 billion to $5 billion and double the Saudi Oil Facility (SOF) from $1.2 billion to $2.4 billion, so the total package could be increased up to $7.4 billion during the visit of premier Shehbaz Sharif,” an anonymous source told The News Pakistan. Furthermore, according to a Finance Ministry official cited by Tribune, the Sharif addministration will also attempt to secure $2 billion in additional cash deposits.
Pakistan-Saudi Arabia Relations Coverage:
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Another official from the Finance Department revealed, “We are requesting for deferred payment facility and enhancing the credit extended for forex support.” Furthermore, the government is seeking an extension on the repayment of the existing $4.2 billion package until June 2023 in order to align with the International Monetary Fund’s (IMF) Extended Fund Facility, which has already been pushed to next June.
Saudi Arabia has also previously deposited $3 billion in the State Bank of Pakistan and deferred a $1.2 billion payment for oil back in February.
PM Sharif’s Saudi visit came after the Crown Prince Mohammed bin Salman officially invited him to visit the Kingdom on April 16 to revive their long-standing partnership. Under the previous government, bilateral ties took a turn for the worse after the Kingdom denied Pakistan’s appeal to convene an OIC Council of Foreign Ministers meet to discuss the J&K issue. Saudi Arabia is India’s fourth-largest partner in trade, so taking a strong stand against New Delhi is firmly against its economic interests. Consequently, in August 2020, Saudi Arabia briefly halted its oil supply to Pakistan and also ended a loan deal.