Financial crisis and debt-ridden Pakistan, another mountain of trouble is about to break. Earlier Saudi Arabia increased the tension of Pakistan by asking for its debt money, but now UAE can also give a similar blow. Saudi Arabia has asked Pakistan to repay the debt of $ 3 billion soon, now there is a possibility that Pakistan, which is facing economic difficulties, may also ask the United Arab Emirates to pay the debt.
Saudi Arabia gave a loan of $ 6.2 billion to Pakistan in the year 2018, shortly after Imran Khan became Prime Minister. The $ 6.2 billion debt package announced by Saudi Arabia included a total debt of $ 3 billion and an oil credit facility of $ 3.2 billion.
Bilateral relations have sharply deteriorated after Pakistan sought to form an alternative Muslim alliance with Turkey and Malaysia, threatening Saudi with an IOC meeting on the Kashmir issue. This is the reason that when Foreign Minister Qureshi publicly criticized Saudi and threatened to form a separate Muslim group, it affected that Saudi had started torturing Pakistan. Because of this, Saudi Arabia first refused to pay for the purchase of oil, and then Saudi asked Pakistan to repay the loan last year.
Now that Pakistan is preparing to pay the third and last installment debt of 1 billion to Saudi Arabia, there is another crisis before Pakistan that the UAE will also announce a $ 3 billion financial support package announced in December 2018 Under this, one can demand fast repayment of debt.
The Express Tribune newspaper quoted Pakistan's finance minister as saying that the UAE has not indicated whether Pakistan could be extended a $ 1 billion loan, which is part of the $ 3 billion package, and The payment date for which is 24 January. The loan payment deadline can be extended up to one year.
A senior unnamed official of Pakistan's finance ministry said, "If the UAE does not withdraw the facility, it will be assumed that the debt will be extended for another year. However, the ministry did not comment on the matter saying It did not comment that it was a "bilateral confidential matter". However, the Tribune reported that the Government of Pakistan feared that the UAE, like Saudi Arabia, could seek payment of its debts.
China now remains the only support for Pakistan in crisis. Pakistan has so far taken three loans from its evergreen friend China to repay the loan taken from Saudi. Beijing lent $ 1 million to repay 1 billion baller soft loans and two separate financing lines of $ 1.5 billion and Saudi loans.
Franchise cinema means making several films one after the other with the same name. Which franchi
Corona Virus (Corona Cases in India) seems to be gaining momentum again in the country. In the la
In the meeting held on the worsening of pollution, Delhi suggested the option of imposing a lockdown
The strict stand of the Supreme Court is in front of everyone on the level of increasing pollutio
Bollywood superstar Salman Khan is constantly in the headlines these days. The police are continu
Corona infection has once again gained momentum across the country. For the last few days, there
Cricketer Yuzvendra Chahal and Dhanashree Verma's divorce was once one of the most talked-about t
Oyo Layoffs: Layoffs of 600 employees in Oyo as well, the company issued a statement
Oyo plans to lay off 600 personnel across its technology and product teams. According to the comp
YouTuber Elvish Yadav is in the news after winning Bigg Boss OTT-2 and has been embroiled in cont
Amazon Great Indian Festival Sale: If you want to buy a 5G support smartphone with the best camer
The Supreme Court on Thursday banned the registration of any new FIR against Tamil Nadu Deputy Ch
