Pakistan and Saudi Arabia are moving closer to establishing a Pakistan-Saudi Economic Corridor, a transformative initiative that could reshape regional trade, investment, and connectivity between South Asia and the Middle East.
The proposed corridor, modeled after the China-Pakistan Economic Corridor (CPEC), is being planned in line with Saudi Arabia’s Vision 2030 and Pakistan’s development priorities, and is expected to unlock new opportunities for investment, job creation, and technology transfer.
To drive this ambitious agenda, the federal government has constituted an 18-member high-level committee tasked with leading economic negotiations under the Pakistan-Saudi Arabia Economic Framework.
According to a government notification, the committee, formed by Prime Minister Shehbaz Sharif, will supervise talks aimed at expanding cooperation beyond traditional defense and energy sectors to include environmental protection and climate stability.
The committee will be co-chaired by Federal Minister for Climate Change Senator Musadik Masood Malik and Special Investment Facilitation Council (SIFC) National Coordinator Lt. Gen. Sarfraz Ahmed. Other key members include Federal Ministers for Economic Affairs, Commerce, Energy, Food Security, IT, and Communications, as well as senior officials from the State Bank of Pakistan, Federal Board of Revenue, Securities and Exchange Commission of Pakistan, and the Pakistani Embassy in Riyadh.
The notification states that the co-chairs will form dedicated teams for rapid negotiations with their Saudi counterparts, with all members required to be available starting October 6, 2025. The SIFC will facilitate the committee’s operations, and travel approvals for related meetings are to be processed within one hour to ensure swift progress.
The committee is also empowered to induct additional members as needed and must submit performance reports to the prime minister every fifteen days.
Pakistan will seek renewed Saudi investment in oil and agriculture under a ‘buy-back’ model, and will push to boost exports to help reduce the $3 billion trade deficit currently in Saudi Arabia’s favor. The long-delayed oil refinery project, pending for nearly a decade, is also expected to be on the agenda. Prime Minister Shehbaz Sharif is likely to visit Saudi Arabia in late October to finalize economic agreements under the new framework.
This economic push comes on the heels of last month’s landmark “Strategic Mutual Defense Agreement” between the two countries. Signed during Prime Minister Shehbaz Sharif’s visit to Riyadh at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman, the pact declares that “any aggression against either country shall be considered an aggression against both.”
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Just tell Saudis to join CPEC . Why create new ones when existing ones exist
this is wrong on SOOOO many levels
Bcz they know KSA doesn’t have tech or capability. Or the economical solutions. They run on oil
Another economic corridor ,what happened to Gwadar and China economic corridor.
wiseness is to erect two production units one in each country.
It will enhance productivity
will reduce unemployment
will open doors for research and development
surplus will be available for exports
self sufficiency and economic independence can be achieved
Only condition is commission agents, khargis, and corrupt should not come close to any such deals.
It can being unprecedented economic uplifts by make youth employeed in nations development.
Alhamdolilah
it is about all kinds of processing, exploration and production units.
Better to keep all these white elephants (as quoted below) out as they all are incompetent and irrelevant to the task / Agenda. They don’t even meet and poses the basic education and knowledge of these projects. Better to hire someone from European countries who is well educated with the relevant field and well experienced and having clean record. He will form his own team for the project. This will save a lot of time and money and will not be corrupt and not come under pressure to the establishment and corrupt politicians ministers of Pakistan.
“”The committee will be co-chaired by Federal Minister for Climate Change Senator Musadik Masood Malik and Special Investment Facilitation Council (SIFC) National Coordinator Lt. Gen. Sarfraz Ahmed. Other key members include Federal Ministers for Economic Affairs, Commerce, Energy, Food Security, IT, and Communications, as well as senior officials from the State Bank of Pakistan, Federal Board of Revenue, Securities and Exchange Commission of Pakistan, and the Pakistani Embassy in Riyadh.””
Very said mr Jamil sir, indeed the corrupt white elephants are the major cause of the destruction of Pakistan’s economy and there inclusion will create more corruption.
Very good. Agreement should ensure that all production units established in Pakistan are supervised and run solely by KSA with all manpower resources from Pakistan benefitting people of Pakistan and to eliminate corrupt practices.
AlhumdolilAllah it is a very welcome Step.
It is a very positive move between these two brotherly muslim countries. Proper trade balancing and investment with an eye towards economic and security growth will ensure future viability of achieving a world power status for both.
A good initiative, if implemented with true true letter and spirit. It must reduce travel & dwelling cost for Umrah/Hajj pilgrims. Establishment of Pak-Aramco Refinery shall stabilize the oil prices in Pakistan. SPEC shall help develop the tourism besides many other benefits e.g. it shall bring confidence among the people to people relationships among the two brothern nations. This corridor must facilitate the free move along air, road and sea routes b/w the two nations.