Pakistan reminded Iran of Saudi defense pact while seeking to limit Gulf escalation — Dar

This handout photograph, taken and released on June 9, 2023, by the Pakistan National Assembly, shows Pakistan's Finance Minister Ishaq Dar addressing the National Assembly in Islamabad. (AFP/File)
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Updated 04 March 2026
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Pakistan reminded Iran of Saudi defense pact while seeking to limit Gulf escalation — Dar

  • Deputy PM says Pakistan conveyed Saudi assurances to Tehran that its territory would not be used against Iran
  • Saudi Arabia confirmed Iran launched attacks in Kingdom’s Riyadh, Eastern Province regions on Saturday

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar said on Tuesday that Islamabad reminded Iran of its strategic mutual defense pact with Saudi Arabia while engaging both countries to reduce tensions following escalating conflict in the Middle East.

Tensions in the Gulf skyrocketed on Saturday following coordinated strikes by the US and Israel against Iran, diminishing prospects of a peaceful settlement to Tehran’s long-running dispute with Western countries and Tel Aviv around its nuclear program.

Iran subsequently targeted American military bases in Gulf states, including the United Arab Emirates, Bahrain, Qatar, Kuwait and Jordan, prompting their governments to issue condemnations. Saudi Arabia also confirmed Iran launched attacks in Riyadh and the Eastern Province, saying they were successfully intercepted.

Dar, who also serves as foreign minister, told members of the Senate during a televised session that he reminded Iran about Pakistan’s joint defense pact with Saudi Arabia when it carried out strikes against Gulf nations. The pact, signed last year in September between Islamabad and Riyadh, states that aggression on one would be considered an attack against both.

“We have signed a Strategic Mutual Defense Agreement with Saudi Arabia,” he told the Pakistani lawmakers. “The whole world knows about it. It is a sovereign agreement. We are bound by that.”

“Keeping that in view, I immediately sensitized our brothers in the leadership in Iran and requested them to please keep that in mind,” he added.

Dar said the Iranian leadership sought assurances from Saudi Arabia that its soil would not be used against Iran. The Pakistani minister said he conveyed those assurances from Riyadh to Tehran.

“So, by the grace of god, you saw that what appears to be a minimum reaction at this point, has not been directed against Saudi Arabia and Oman,” he said.

The deputy prime minister said Iran carried out strikes against other Middle Eastern countries such as Jordan, Kuwait, UAE, Qatar and Bahrain. Dar added that these were sovereign countries and not bound to heed Pakistan’s advice.

“I am grateful that they [Iran] understood my point and the assurance they sought was obtained and delivered by us accordingly,” he said.

Speaking about Islamabad’s efforts to defuse tensions between Iran and the US, Dar said he took up Iran’s nuclear program with US Secretary of State Marco Rubio during their meeting in July last year.

The Pakistani minister said Iran’s response was also “positive” on Washington’s demands to not pursue nuclear weapons, adding that Pakistan held talks with Iranian officials during President Masoud Pezeshkian’s visit to Islamabad in August 2025.

Dar said Pakistan had immediately condemned US-Israel attacks against Iran when they took place on Saturday, adding that he was directly in contact with Iran’s Foreign Minister Abbas Araghchi via WhatsApp.

“We don’t need the longer routes of the foreign office,” he said. “We just message each other, we just talk to each other as soon as we see the messages.”

He said Islamabad would continue its efforts to de-escalate tensions between Washington and Tehran as regional tensions escalate.


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

  • Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
  • Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity

ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said. 

Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday. 

The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.

Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday. 

“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.

An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.

However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days. 

Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.

The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.

Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.

Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.