Another mountain of trouble will break over debt-ridden Pakistan, UAE will give blow to Imran's government after Saudi


Posted on 18th Jan 2021 02:51 pm by rohit kumar

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.

2 Like 0 Dislike
Previous news Next news
Other news

Lok Sabha Elections 2024: Home Minister Amit Shah will hold a public meeting in PM Modi's parliamentary constituency today, will interact with workers

Union Home Minister Amit Shah will be in the city on Wednesday. He will reach Lal Bahadur Shastri

IND vs AUS: 'I hope to score runs against Bumrah in Gabba', this Australian is scared of India's star bowler

Top pacer Jasprit Bumrah has dismissed Nathan McSweeney thrice in the last four innings but the A

Corona threat in the world: 438 deaths a day in Japan; Test necessary for those returning from China in America-Taiwan

The situation is getting worse in China due to Corona. Because of this, Taiwan has made the RT-PC

Big prediction of former England cricketer, these 3 Indian players can take retirement from T20 cricket soon

After the disappointing performance of the Indian team in the semi-finals of the T20 World Cup 20

Twitter in action due to constant criticism of CEO, suspends accounts of several journalists covering Elon Musk

Twitter today suspended the accounts of journalists who cover and frequently write about Elon Mus

Three major railway stations including Delhi will be rejuvenated, the government told the plan to invest 10 thousand crores

The Union Cabinet took three major decisions on Wednesday. It also includes the rejuvenation of r

Ghost of Kyiv legend: The truth of 'Ghost of Kyiv' became the 'period' of Russian planes, Ukrainian Air Force revealed the secret

Ghost of Kyiv is a myth: On social media, the 'Ghost of Kyiv' was a military hero, a fighter pilo

CSK vs PBKS Predicted Playing XI: Chennai and Punjab will have a great match, see 'Kings' playing XI

CSK vs PBKS Predicted Playing XI: The 38th match of the Indian Premier League (IPL) 2022 will be

Chirag Paswan said - If Hanuman has to ask for help from Ram, then why should Hanuman and why should Ram?

Lok Janshakti Party (LJP) leader Chirag Paswan blamed JDU for the split in his party. He rejected

Road Accident in Bahraich: Tragic road accident in Bahraich, six died on the spot: 15 people injured

Road accidents are not taking the name of stopping in UP. Winter begins, and incidents of road ac

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash