Pakistan Returns $1 Billion Loan to Saudi Arabia
Pakistan got a friendly loan from Saudi Arabia a couple of years ago. but had to return recently as they had issues with its leadership.
Saudi Arabia and Pakistan are usually on friendly terms. This is also mostly because of the religious attributions associated with the country. Every country looks forward to Saudi Arabia, in the times of crisis, as they expect them to work and take action upon things. To accumulate all Muslim countries in one place, OIC was formed. Organization of Islamic Corporation (OIC) comprises of 57 Muslim states from all around the globe. Pakistan had high expectations from Saudi Arabia, in regard to dealing with the Kashmir issue.
Kashmir has been an issue for Pakistan. Since independence, the area has been a war zone, which was taken over by the Indian in 2019. Since then, Muslims are facing atrocities. The connection to the outer world has been cut off. Men are being murdered, kids are being kidnapped, and women are being raped. No protests can take place as it results in loss of life only.
Pakistan has been looking forward to OIC for a meeting of the Council of Foreign Ministers in Islamabad. Nevertheless, the invitation was rejected several times. And after that, Pakistan’s Foreign Minister got harsh with his words. And then came the news that Pakistan was returning the loan they took from Saudi Arabia. It is a tough decision to return that much amount of money, unless demanded by the other country. Either way, it was a huge loss for Pakistan to return $1 Billion, out of $3bn, which came monetarily. Along with that, there are possibilities that Saudia cuts out oil coming to Pakistan. Either way, Saudi Arabia has kind of deceived Pakistan in the times when they needed them the most. Comparatively, China has proved to be better at this time. They instead offered money to Pakistan. An amount equal to what Pakistan returned to Saudi Arabia.
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