Saudi Arabia gives a major blow to Pakistan, no waiver for loan and oil
Saudi Arabia’s move has ended decade old relationship between the two countries.
Riyadh: Saudi Arabia has given a major blow to Pakistan facing severe financial condition. It has cut oil supplies and prohibited loans.
The move comes after Saudi Arabia’s Foreign Minister Shah Mahmood Qureshi issued a stern warning against Pakistan on Kashmir at Organisation of Islamic Cooperation (OIC) for not taking stern action against India.
Middle East Monitor has given this information. Saudi Arabia’s move has ended decades of relationship between the two countries. Pakistan will also have to pay $1 billion to Saudi Arabia. The amount was part of Saudi Arabia’s $ 6.2 billion package in November 2018, given to Pakistan during a severe economic crisis.
The package included a total dollar loan and an oil loan facility of $ 3.2 billion. According to the report, the deal was signed when Prince Muhammad bin Salman visited Pakistan in February last year.