The special joint session of parliament has been convened as pressure is mounting on Islamabad to act swiftly in support of Riyadh. At the start of the session, defence minister Khawaja Asif moved a motion to discuss the crisis and whether to join Saudi forces' military operations against the Shia Houthi rebels in Yemen.
The minister in his policy statement said that Pakistan wanted peaceful solution of the Yemen issue through political and diplomatic means.
He said the prime minister is in close liaison with the neighbouring countries and has also visited Turkey in this regard and will also visit other regional countries for more consultations.
"Saudi Arabia has asked for combat planes, warships and soldiers," Asif said.
Asif also reiterated Pakistan's stand that in case of any threat to the territorial integrity and sovereignty of Saudi Arabia, the country would come to the defence of its ally.
"Pakistan attaches great importance to Saudi Arabia's territorial integrity. We will stand with our Saudi brothers," he said.
Pakistan has called for a negotiated settlement to the crisis as it is wary of getting involved in any conflict that would inflame sectarian tensions among its own sizeable Shia population.
Asif also complained that Pakistan was fighting its war against terrorism "alone".
"Pakistan is fighting this war against terrorism on its own resources. Pakistan is the only nation in the world that has taken terrorism head on," he said.
Sharif who last week decided to hold the joint sitting was not present in the morning session due to his meeting with visiting Sri Lankan President Maithripala Sirisena, angering opposition leaders who demanded that the session should be adjourned till the premier attends.