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.
Ajay Devgan appeared in the role of 'Rahim Lala', made 'Gangubai Kathiawadi' a 'mafia queen'
Fans are quite excited about Bollywood actress Alia Bhatt's upcoming film 'Gangubai Kathiawadi'.
Violence has flared up in the West Bank following the death of two Israelis at the hands of a Pal
People in the age group of 18 to 59 years can get a booster dose of corona for free. The country
Prime Minister Narendra Modi gave an interview to a UAE newspaper on Friday. In this, he talked a
Tirath Singh Rawat: What did the girls say on the statement 'Women have ripped jeans'?
The new CM of Uttarakhand Tirath Singh Rawat is in the discussion due to the statement on the jea
After receiving a record 10,000 patients in 24 hours in Rajasthan, the government has imposed a 1
So far 51 bodies have been found inside the truck that came from Mexico to Texas, USA. These peop
The first match of the second doubleheader of the IPL 2021 season is being played between Punjab
Russian President Vladimir Putin thanked the nation for its unity after the uprising was over. Th
These 5 amazing features make iPhone completely different from the Android phone
The market has been dominated by two types of phones for since long. The fight between an iPhone
