PM Sharif and Crown Prince MBS discuss Houthi attacks and regional security
Pakistan’s prime minister reaffirmed condemnation of Houthi attacks on Saudi Arabia and pledged continued diplomatic support, while both leaders warned that the unrest could disrupt global energy supplies.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Negative · Do not buy
Houthi attacks raise regional risk, likely pressuring Oil & Gas stocks and overall market sentiment – Don't buy.
Sectors & Direction
Desk read
Desk call: Do not buy · Negatively affected
- Oil & GasNegatively affected
Companies
Companies Mentioned
- ISL· Negatively affected · Do not buy
Mentions in This Briefing
Sectors: Oil & Gas — Negative · Do not buy. PSX tickers: ISL. Houthi attacks raise regional risk, likely pressuring Oil & Gas stocks and overall market sentiment – Don't buy.
Full Story
Open on Business Recorder## Diplomatic dialogue
On Sunday afternoon, Prime Minister Shehbaz Sharif spoke with Saudi Crown Prince and Prime Minister Mohammed bin Salman. The official statement described the call as "warm and most cordial" and highlighted Pakistan’s strong condemnation of recent Houthi attacks on Saudi civilian and economic infrastructure.
## Solidarity and concerns
During the conversation, PM Sharif expressed full solidarity with the Saudi leadership and the "brotherly people of Saudi Arabia." He warned that the Houthi actions threaten regional peace and could further destabilise the global economy and energy supplies. The prime minister said Pakistan would keep working to defuse tensions and promote peace in the region.
## Mutual appreciation
The statement noted that Sharif praised the Crown Prince’s "wise and sagacious leadership" throughout the crisis. In turn, Prince Salman thanked Pakistan for its steadfast support and its efforts toward regional stability.
## Ongoing engagement
Both leaders agreed to stay in close contact and aim to meet in person at the earliest opportunity to discuss further cooperation and peace initiatives.
## Market relevance
The heightened geopolitical risk centred on the Red Sea and Gulf could affect oil transport routes, potentially influencing global oil prices and, by extension, Pakistan’s energy import bill and related stock sectors.