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Pakistan is playing a mediating role between Iran and Saudi Arabia in an effort to end the conflict in Yemen, Prime Minister Imran Khan said in a televised address Wednesday evening.
"We are acting as a conciliator between the two countries to end the war," he said.
Pakistan's idea of mediating was first introduced by Khan in a previous trip to the kingdom shortly after his election as prime minister, according to Fawad Chaudhry, Pakistan's information minister.
"Since then, Pakistan has put in place a Phase II monitoring process," said Chaudhry, adding, "We have been in contact with all the actors of the conflict".
The conflict in Yemen began in 2014 when the Houthis, an Iranian-backed Shiite militia, seized parts of the country, including the capital, from the Saudi-backed government. The kingdom formed an alliance with several Arab states and began bombing the Houthis.
Yemen has been at war since then, destroying infrastructure and displacing millions of people. The United Nations recently warned that the country was facing a famine that could cause "considerable loss of life".
US Chief of Humanitarian Aid Mark Lowcock said half of the country would soon be dependent on foreign food aid.
The peace negotiations negotiated under the auspices of the United Nations have recently failed. United Nations envoy for Yemen Martin Griffiths has again tried to revive the process.
In search of Saudi support
Khan, who recently returned home after attending a three-day investment conference in Saudi Arabia, nicknamed Davos in the Desert, was criticized by some for attending the conference at a time when many people in The world remained apart after the controversial disappearance and murder of Jamal Khashoggi, a Saudi journalist and contributor to the Washington Post.
But Pakistan is facing a serious economic crisis. With declining foreign exchange reserves and an imminent balance of payments crisis, the country was counting on Saudi aid. The oil-rich kingdom has often bailed out Pakistan in times of financial crisis.
Khan's visit seemed to have paid off. Saudi Arabia has pledged to deposit $ 3 billion in Pakistani banks for a year to strengthen its reserves and provide $ 3 billion worth of oil to a one – year deferred payment.
"Thank God we have an excellent package from Saudi Arabia. We thank them, "said Khan.
He also said that he was negotiating with two other countries to obtain similar aid to reduce the amount of money that the country should borrow from the IMF.
"When the IMF gives you a lot of loans, it imposes conditions, which hurts the public and increases inflation," Khan said.
Despite this support, Pakistan will still need an IMF bailout of up to $ 8 billion unless the country receives more money from another country. Pakistan has borrowed 21 times from an international lending institution over the past six decades.
Khan is expected to visit China in early November to seek further financial assistance.
