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.
New START Treaty: Putin suspends START nuclear deal with US, apprehensions about war increased
Warning to Western countries, Russian President Vladimir Putin announced the termination of the N
England started the tour of Pakistan on a winning note, thanks to the precise bowling of left-arm
There are two good and one bad news for the country. The bad news is that the number of corona pa
The cryptocurrency market is showing slight gains. Bitcoin, the world's largest digital token, is
Muslims constitute 9.67 percent of the population in Gujarat. The share of Muslim voters is 15 pe
The fight for rights is going to intensify once again in Delhi. There may be a conflict between t
Russian President Vladimir Putin has made a statement for the first time on the aggressive attitu
On Monday, one-way economy class fares on a direct European airline from London to Mumbai rose to
There is a steady decline in the cases of corona in the country. After five months, the lowest nu
The responsibility of the Uttar Pradesh Teacher Eligibility Test (UP-TET) paper leak case has fal
