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.
Tata Group, one of the country's most trusted companies, is set to invest Rs 3000 crore in resear
Storage worries are over! Samsung phone with 1TB memory has arrived, know the price
Every day some new phone is being launched. Meanwhile, Samsung has introduced the 1TB storage var
'Will not tolerate racial abuse': CM Pema Khandu lashes out at three women in Delhi
A neighboring couple allegedly used racial slurs and abusive language against three young women f
50 days have passed since the Ukrainian war. Meanwhile, US President Joe Biden has approved milit
Tirupati Laddu Controversy: Pawan Kalyan reacted sharply to Karti's statement, saying this big thing
Actor Karti is in the headlines due to one of his statements. Recently, a video of him started go
Battlegrounds Mobile India launch date revealed, may be launched on this date
The launch of PUBG's new avatar Battlegrounds Mobile India has reached near. New updates are comi
Amruta fadnavis statement: A statement by Amruta Fadnavis, wife of Maharashtra's Deputy CM Devend
Before the monsoon session of Parliament, PM Modi said that this monsoon session is very proud fo
Icy winds blowing from the high peaks of the Himalayas have gripped the entire North India in a s
Barring some states of the country, the rainy season seems to be stopping. The rains in October h
