Saudi Arabia and the United Arab Emirates (UAE) have not withdrawn their $2 billion cash deposits that they provided Pakistan as loans. Both these loans matured in the fourth week of January 2021.
This indicates an improvement in lately-frosty relations between Pakistan and the two key Gulf nations, Express Tribune reported.
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The move by the Kingdom of Saudi Arabia (KSA) is also important, considering that the country had already withdrawn $2 billion out of $3 billion loans that it extended to Pakistan in late 2018.
In December 2020, with the withdrawal of $1 billion deposits, Pakistan’s foreign minister had said that KSA had to take this step due to a slump in crude oil prices.
At the moment, it is unclear whether KSA would also revive the $3.2 billion deferred oil financing facility. The kingdom had withdrawn the said financing facility in May last year.
On the other hand, the UAE has also rolled over a $1 billion deposit for another year.
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UAE had disbursed $2 billion in loans to Pakistan, out of which the remaining $1 billion will mature in March. The newspaper report quoted sources familiar with the matter as saying that it could also be rolled over for another year.
In the meantime, Pakistan had made arrangements for repaying the remaining Saudi loan and has secured three different loans from China to return the Saudi debt.
We are thankful to Saudia and UAE as they always supported us when needed. Our enemy tried alot to distance us from them but get unsuccessful.
Long Live Pakistan and KSA & UAE relationship.
Also we are prayful to the leadership of these countries.
Wake Up !!!!
Long live friendship of Pakistan, UAE and KSA. INSHALLAH
May ALLAH bless the leaderships
Where was this friendship when suddenly Saudia took their loan back much earlier than the time they gave us to give it back. Do you know why? To put the pressure on us to accept Israel, leave support of Turkey, leave to make our neighbor dirty on Kashmir issue. Please stop living in a fool’s paradise.
It’s national misfortune that Pakistan is dependent on foreign loans and aids from various countries including middle east in order to run the affairs of the State.All the successive governments have showed their inactive ness to get rid of this dependence on sorry State of affairs in economic policies. The main cause of this dependence is that our tax to GDPratio is DEPLORABLY lowest in the world around us. Corruption is rampant and the rich don’t pay direct TAXES to the national exchequer. The government and tax collecting machinery don’t work HONESTLY.
We must get out of the Saudia and UAE phobia of brotherely countries n return their lones immediatelyor as soon as possible, i am surprised to see ignorant comments of my fellow Pakistanis. They both manipulate Pakistan as per their will, whenever they want, we shouldn’t dependant on them at all. Yes they provided loan but then they pull it off, whenever they want to put pressure on us. There is a zero support from them on Kashmir issue, in fact, both are pursuing relations with Israel which is ok, but then they push Pakistan to act as their slave.. come on guys !!!! Wake up
There is no friendship they are treating us as slaves the way Pakistan govt took step not to bend and pay their debts is remarkable and start trading of oil with Azerbaijan a great step towards freedom from these countries
With the change of regime in USA and fearing any possible turbulence in ME, Saudi Arabia and UAE thought to repair their deteriorated relations with Pakistan. Earlier, having too-close relations with trump administration both banana-states had almost deleted Pak from their friends list.
Moral: Nothing brotherly relation bla bla, but self-centered policy of the KSA and UAE as usual
Like individual, inundated in debt, hardly comes out. Similarly, a country’s economy. Aid as imperialism is subject of great interest for study. What the UAE and Saudi Arabia will charge is out of calculation.
They are not taking back loan because they saw Pakistan slipping out of their slavery and loosing control over Pakistani people and government. Pakistan should not bend towards these arabs and maintain its integrity. Arabs should learn to treat Pakistan as equals and with respect.
saudi kingdom or UAE ke loan un ke moonh per foran mar dene chahie
Hence Proved:- The only all weather friend of Pakistan is “The One only China”…The future will tell us all the Rest of story..
Blackmail for some other day…