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.
Pm Modi Parliament Prime Minister Modi fiercely surrounded the Congress in the speech given on th
Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi is on a US tour these days. He gav
After the Corona period, now America has started opening its border. President Joe Biden has open
Another child has died due to Zero Covid Policy in China, due to which the Chinese authorities ha
Ola Electric Scooter Double Thrill! 1100 crore sales in two days, such are the features
Ever since the sale of Ola Electric Scooter has started, it has been setting records on record. A
5G spectrum: Auction of 5G spectrum on July 26, Adani group will also participate
The auction of the 5G spectrum will be held on July 26. The last date for applications to partici
Politics: Oxygen suppliers said - protest stopped the way, the driver said - farmers helped
Due to farmer agitation on the borders with Delhi, there has been a case of delay in reaching the
The final report of the polygraph test of the Shraddha murder case accused Aftab Amin Poonawalla
The rains in Delhi in the three days of May have fulfilled the quota for the entire month. Normal
The impact of Cyclone Montha is being felt along the coastal areas of Tamil Nadu, Andhra Pradesh,
