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.
Money Laundering Case: Film actress Jacqueline Fernandez appeared in the Enforcement Directorate
WWE's dangerous wrestler will enter Bigg Boss 19. People would get scared just by looking at him
There are only a few days left for the controversial TV show Bigg Boss 19 to start. Since the rel
The ongoing political and economic unrest in India's neighborhoods has attracted the attention of
Delhi Deputy CM Manish Sisodia, who is in trouble in the matter of excise policy, has moved the S
Rocky Aur Rani Kii Prem Kahaani Day 1 Collection: Karan Johar's directorial comeback film 'Rocky
The Delhi High Court received a bomb threat via email on Friday. As soon as the email was receive
Due to the scorching heat, the electricity demand is increasing across the country. In such a sit
From 'Victoria No. 203' to 'Taxi No. 9211', Hindi cinema has a long and interesting tradition of
Union Minister Prad Joshi has sharply criticized Congress President Mallikarjun Kharge. Prahlad J
A fierce fire broke out in the Satpura Bhavan, which houses dozens of departments of the state go
