ISLAMABAD: 10 April 2026 – Saudi Finance Minister visited Pakistan only a day before the historic Iran US Dialogue and called on Prime Minister Muhammad Shehbaz Sharif at the Prime Minister House. Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Chief of Defence Forces Field Marshal Syed Asim Munir also attended the meeting.
Saudi Arabia is major stakeholder in the Gulf region as well as in the dialogue. This makes the visit of Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan, meaningful who otherwise too rarely visit Pakistan.
It was one day better say few hours visit that was not announced in advance. It means some urgent arrangement had been made to convey something important in person and a Finance Minister’s in person visit can surely be of some financial or investment assurance.
Saudi Arabia pledged a major investment of 10 billion dollars to set up an oil refinery at Gwadar in July 2023 but later it was put on back burner. The project, involving Saudi Aramco, was meant to process 300,000–400,000 barrels per day.
Pm’s media office shared a routine worded press statement as , the Prime Minister reiterated that the people and Government of Pakistan had always stood shoulder to shoulder with their Saudi brothers and sisters at all times, and this was an abiding bond between both countries, that had grown stronger under the patronage of His Royal Highness the Crown Prince.
The Prime Minister emphasized Pakistan’s strong commitment to expanding its cooperation with the Kingdom in all spheres, particularly in trade, investment, and economic development.
The Saudi Finance Minister thanked the Prime Minister and reaffirmed the resolve of the Kingdom of Saudi Arabia to further strengthen the longstanding deep-rooted fraternal bonds between Pakistan and Saudi Arabia, as envisioned by His Royal Highness Crown Prince Mohammed bin Salman, Official statement ends here.
Timing of the visit and presence of Foreign Minister, Field Marshal and DG ISI in the meeting leads to observation that it was about Islamabad Dialogue today, security matters of Saudi Arabia and in return some financial incentives.
Pakistani Finance and Energy Ministers were also present in the meeting.
The video of the meeting shows it was very pleasant meeting while Saudi Minister was stressing upon something in a good mood and the participants were listening attentively.
- Refinery Project: The centerpiece is a $10 billion integrated refinery and petrochemical complex in Gwadar.
- Key Partners: The project is a collaboration between Saudi Aramco and Pakistani state-owned entities: PSO, OGDCL, PPL, and GHPL.
- Strategic Goal: The refinery is designed to cut Pakistan’s oil import bill and provide Saudi Arabia with a strategic export hub along the China-Pakistan Economic Corridor (CPEC).
- Status: While first announced in 2019, the project has seen progress with MoUs signed in 2023, though, as of late 2024, some investors were reportedly monitoring local policy stability before final implementation.
- Incentives: The project is expected to receive generous tax holidays and exemptions (up to 20 years) as part of the deal.
