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.

 

Did you know?Explore Trending and Topic pages for more stories like this.

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

Sudden lockdown in China's Disneyland, thousands of visitors trapped inside; watch video

The situation in China is bad due to Corona. The strict Kovid rules of the Jinping government hav

TRAI's Silver Jubilee Celebrations: PM Modi launches 5G testbed, this will help Indian industry and startups

Prime Minister Narendra Modi has launched a 5G testbed today. It will support the country's telec

Caution: New traffic rule for motorcyclists, scooter riders, warning also issued

The Traffic Police has issued a notification today making helmets mandatory for those who sit on

Who will be the new president of the BJP? Amit Shah and Rajnath Singh had a secret meeting with PM Modi.

Before the election of the BJP President, an important meeting was held at his residence under th

India gets 30-day 'special exemption' to buy oil from Russia, Trump gives good news amid war with Iran

Amid ongoing tensions in the Middle East, India faces the threat of an oil crisis. Meanwhile, the

On India getting the presidency of the G20, Biden said – the two countries will work together to tackle global challenges

US President Joe Biden has described India as a strong partner of America. Has said that he will

Virat Kohli Ranji Trophy: Kohli will return to Ranji after 13 years, joined the Delhi team for training

Star Indian batsman Virat Kohli started training with the Delhi team here on Tuesday ahead of his

Army's havoc on protest against coup in Myanmar: Village of pro-democracy monks set on fire, remnants of destruction left near Golden Stupas

The village of pro-democracy monks was set ablaze by the Myanmar army last year in 2021. This is

This beautiful South actress will play Mandodari in Ranbir Kapoor's Ramayana, she has also started shooting with 'Raavan'!

Preparations for the mythological film Ramayana, being directed by Nitesh Tiwari, are going on in

NEET UG 2022: Daughters ahead in the race to become doctors, 10.64 lakh girls out of 18.72 lakh

NEET UG Exam 2022: National Testing Agency has successfully conducted the NEET UG exam in 543 exa

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