CorporatePositive · Buy biasBusiness Recorder

PM Shehbaz condemns Houthi attacks on Saudi Arabia in call with Crown Prince

Pakistan’s prime minister denounced recent Houthi strikes on Saudi civilian and energy infrastructure, reaffirmed solidarity with Riyadh and warned of broader regional economic repercussions.

Full article on Business Recorder

Share

PM Shehbaz condemns Houthi attacks on Saudi Arabia in call with Crown Prince — Oil & Gas | Shariah PSX

Desk Analysis

How This Affects the Exchange

Sector Effect

Positive · Buy bias

Oil & Gas sector likely to benefit from higher oil prices, Buy bias on related tickers.

Sectors & Direction

Desk read

Desk call: Buy bias · Positively affected

  • Oil & GasPositively affected

Companies

OGDC · Buy biasHBL · Buy bias

Companies Mentioned

  • · Positively affected · Buy bias
  • · Positively affected · Buy bias

Mentions in This Briefing

Sectors: Oil & Gas Positive · Buy bias. PSX tickers: OGDC, HBL. Oil & Gas sector likely to benefit from higher oil prices, Buy bias on related tickers.

Full Story

Open on Business Recorder

## Telephone conversation between leaders

Prime Minister Muhammad Shehbaz Sharif spoke with Saudi Crown Prince and Prime Minister Mohammed bin Salman on Sunday. During the call the Pakistani leader strongly condemned the latest Houthi attacks on Saudi Arabia’s civilian and economic assets.

## Solidarity and regional peace

Shehbaz expressed Pakistan’s full solidarity with the Saudi leadership and people, stating that the Houthi actions threaten regional peace, security and could further disrupt global economic stability and energy supplies. He highlighted that he, Chief of Defence Forces Field Marshal Syed Asim Munir and Deputy Prime Minister Mohammad Ishaq Dar will continue efforts to defuse tensions and promote peace.

## Mutual appreciation

The prime minister praised the Crown Prince’s “wise and sagacious leadership” throughout the crisis and conveyed warm wishes to King Salman. In response, Crown Prince Mohammed bin Salman thanked Pakistan for its steadfast support and its role in regional stability.

## Ongoing diplomatic engagement

Both leaders agreed to stay in close contact and expressed a desire to meet in the near future to discuss further cooperation.

## Geopolitical backdrop

The Houthi attacks, which injured more than 70 people and sparked fires at Saudi energy facilities, come amid heightened Iran‑Saudi tensions and have pushed oil prices to six‑week highs. The incidents underscore the risk of a broader regional conflict that could affect oil transit routes through the Strait of Hormuz and the Red Sea, routes vital to Pakistan’s energy imports.

## Strategic implications for Pakistan

The latest flare‑up tests the recently signed defence pact between Pakistan, Saudi Arabia and Turkey, which obliges the three nations to treat an armed attack on any one as an attack on all. While Pakistan seeks to deepen defence and investment ties with Gulf states, it also remains cautious of antagonising Tehran, given its reliance on oil shipments through the same maritime corridors.