Crown Prince of Saudi Arabia Mohammad Bin Salman is all set to arrive in Pakistan next week. The prince’s personal effects, including furniture and exercise equipment, have already reached Pakistan, hotels have been booked for his entourage and the army is all set to be posted at various locations to act as MBS’s security detail. Meanwhile, Prime Minister (PM) Imran Khan is planning on receiving MBS in person at the airport. Unfortunately, it will likely be a difficult week for citizens of Rawalpindi and Islamabad as their airspace will be shut down, cellphone services will be partially suspended and main traffic arteries will be closed to heavy traffic. Saudi Arabia is Pakistan’s oldest and closest ally, perhaps the only country in the world with which Islamabad considers its alliance on par with China. This is why our new PM chose the kingdom as the location of his first overseas visit. PM Khan came back with a $6 billion aid package, half of which was deposited directly with Pakistan, while the other half will be given as a one-year deferred payment facility for oil imports. Another $20 billion worth in investments is expected in Pakistan after MBS’s visit. Pakistan is also set to sign MoU’s worth $15 billion during the visit. Pakistan’s interest in Saudi Arabia isn’t that hard to understand. The Kingdom is the biggest exporter of petroleum products in the world, which has made it monstrously rich. We, on the other hand, are a country starved of foreign investment and addicted to loans and financial bailouts. Saudi Arabia is also home to a large number of Pakistani expatriates. In 2017 it was estimated that 2.6 million Pakistanis were living in and working in Saudi Arabia. These Pakistanis are also one of our biggest sources of foreign remittances. However, things are changing. In September last year, the Senate was warned that remittances coming in from the Gulf were declining because of labour reforms being passed in those countries. Remittances coming in from Saudi Arabia had declined by 9.5 percent. Saudi Arabia is well aware that its current socio-economic setup cannot sustain it forever, and this is what has led to changes such as the shrinking immigrant workforce and women being granted permission to drive. Meanwhile, the murder of journalist Jamal Kashoggi in Turkey and the human rights crisis in Yemen have both emerged as potential threats to the Kingdom and MBS’s international standing. This could be one of the reasons for the warm attitude Riyadh has shown Islamabad in recent months. Right now, the Kingdom needs as many friends on the international stage as it can get. Regardless, whatever support MBS can extend will not be enough to fix Pakistan’s ailing economy. A global poll of 3,800 accountants recently assessed Pakistan’s economy to be among the weakest in South Asia and concluded that it continues to struggle with macroeconomic imbalances. In January, the country’s foreign exchange reserves had also fallen to well below $7 billion. In such a state of affairs, the PTI will have to come up with a long-term plan for the economy instead of putting band-aids on bullet wounds. * Published in Daily Times, February 14th 2019.