Pakistan has returned another billion dollars to Saudi Arabia this week, while the remaining one billion will be paid next month, sources said.
In an unusual move, Saudi Arab demanded its money back from Pakistan which was lent in 2018 to support Pakistan’s foreign currency reserves. Pakistan had returned one billion dollars in July this year while another one billion is being paid this month. Ministry officials said Pakistan will clear its payment next month.
Pakistan has arranged money from China to pay this debt, said a source.
Saudi Arabia’s demand for money has been considered a sign of the deteriorating relationship between the two countries. Although Pakistan has tried to mend fences, Saudi Arabia has not budged, analysts say. International media reported that Saudi Arabia has started distancing from Pakistan to facilitate India in the Middle East. Reuters news agency wrote “After Islamabad sought Riyadh’s support over alleged human rights violation by India in the disputed territory of Kashmir, Saudi Arabia has pushed to Pakistan to repay the loan.”
Indian Occupied Kashmir has been under lockdown for 500 days. Many Kashmiris were killed during this lockdown. However, Saudi Arab kept away from this dispute. This week, India’s army chief visited Saudi Arabia to strengthen defence ties.
