Prime Minister Shehbaz Sharif said Pakistan-Saudi cooperation offers the best path to recovery instead of relying on more loans. Speaking at the Future Investment Initiative Conference 2025 in Riyadh, he stressed that countries hit by climate disasters need mutual support, not debt. The premier said repeated loans weaken developing nations and slow down their growth.
PM Shehbaz explained that progress requires unity and shared technology. He urged developed countries to help others grow in fields like agriculture, industry, and employment. He added that Pakistan has learned from its past mistakes and is now focusing on reforms, including digitizing tax systems to reduce corruption.
READ MORE:PM Shehbaz meets MBS to boost Pakistan-Saudi ties
During the visit, Pakistan and Saudi Arabia signed an Economic Cooperation Framework to boost trade and investment. The agreement will support major projects in energy, mining, IT, tourism, agriculture, and food security. It aims to create sustainable growth and strengthen business ties between both nations.
Information Minister Attaullah Tarar called the deal a “historic milestone” in Pakistan-Saudi relations. He said it reflects both governments’ shared vision for development and their commitment to long-term partnership. Tarar added that the cooperation will bring new opportunities for investment and innovation across sectors.
READ MORE:Pakistan, KSA launch economic cooperation framework to boost ties
PM Shehbaz also said Pakistan faces the harsh effects of climate change despite contributing less than one percent to global emissions. He called for global unity and fair resource sharing between the north and south. The prime minister concluded that Pakistan-Saudi cooperation and technology adoption are essential for building a stronger, more resilient economy.