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.
There has been a decrease in the cases of corona in the country (Covid 19 Cases in India). In the
Flight and train delays, reduced speed limits on expressways... the impact of fog in North India.
Dense fog enveloped several parts of North India, including Delhi and the NCR, on Friday morning,
New Delhi: Amid the growing outbreak of Corona, Union Health Minister Harsh Vardhan held a meetin
Union Home Minister Amit Shah will be on a tour of Arunachal Pradesh on Monday. During this, he w
PM Modi, who was on a tour of African countries, was honored with 'The Officer of the Order of th
UP Election 2022: Understand BJP's Chanakya Amit Shah's UP plan
UP Election 2022: By the end of this month, Amit Shah will come in the role of Chanakya for BJP i
Pakistan: Suicide blast in Peshawar mosque, at least 30 killed; 50 injured
A man blew himself up during Friday prayers at a mosque in Peshawar, Pakistan. At least 30 people
Milk Price Hike: Milk of Amul and Mother Dairy becomes expensive, new rates apply from today
The Gujarat Co-operative Milk Marketing Federation has increased the prices of Amul milk by Rs 2
The country has got a new Chief of Defense Staff (CDS). Lt General Anil Chauhan became the next C
Bihar Exit Polls: 11 exit polls predict NDA forming government in Bihar, 1 predicts a close contest
Voting for the 243 seats of the Bihar Assembly took place in two phases. The first phase of votin
