"Pakistan is awaiting further details to reach a decision in this regard (join Saudi initiative)," Aziz told Parliament.
He said in a policy statement that Pakistan wants a political solution to the Yemen crisis.
Aziz said Pakistan would continue to follow the policy of non-interference in other countries.
The statement came after last week Foreign Ministry Spokesman Qazi Khalilullah said Pakistan welcomes the 34-state alliance and will join it.
Iran, Iraq and Syria were not part of it, giving the impression that only Sunni countries were invited.
Analysts believe Pakistan with its sectarian fault-lines can ill afford any venture which is based on religious considerations.
Earlier, Aziz was asked by Chairman Senate about whether Pakistan was part of the 34-nation coalition and would it be involved in the crisis in Yemen.
Aziz said the details of the initiative were not known and no decision will be taken without it.
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