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DUBAI NEWS LIVE – Bajwa asked Saudi Arabia to recall its old ties. Accused India of persecuting Kashmir. Counted the bad conditions of Pakistan. Told religious contacts one
States’ trade with India is nearly 11 times larger at $ 33 billion. When Pakistan Foreign Minister Shah Mahmood Qureshi used a TV interview earlier this month to defeat Saudi Arabia on the issue, threatening that Islamabad would call a meeting of the Organization of Islamic Conference (OIC). It was seen as challenging the leadership of Saudi Arabia’s OIC, and angered an ally who is the largest source of remittances in Pakistan, and one of its largest creditors.
You are asking to play the role that the Muslim Umma expects of you, ”Qureshi said. “I know the foreign office will be stressed by what I said, but Kashmiris are being killed.” The purpose of Bajwa’s visit has historically been damage control among close countries. Although Saudi Arabia has not officially responded to Qureshi’s comments, local reports say the state is beginning to withdraw financial support for Pakistan.
The Express Tribune reported earlier this month that Pakistan’s fourth-largest trading partner has not yet decided on a request to expand the 2018 facility, which expires on 9 July, with 3.2 billion per year Deferred payments on US dollar oil are allowed. Yawar Uz Zaman, head of research at Pearl Securities, said that the facility is usually introduced before its expiry at the request of the borrower.
Prime Minister Imran Khan’s government also unexpectedly repaid $ 3 billion to US $ 1 billion in loans to Saudi Arabia, which it refinanced about six months ago. Khan’s first overseas visit as Prime Minister was in Saudi Arabia in 2018, and he had negotiated a US $ 5 billion loan on state and UAE visits.
Ali Shihabi, a commentator close to the government in Saudi, said on Twitter on Thursday, “The Pakistani nobles are in a bad state of support given by Saudi to Pakistan for decades.” “Well the party is over and Pakistan needs to value this relationship.
Relations last between the two nations were in 2015, when Pakistan refused to send troops to Yemen to support the Saudi-backed army. But the situation improved after Khan was elected chief. Soon after the 2018 murder of journalist Jamal Khashoggi, Khan visited Riyadh for an investment conference after speakers including JP Dimon Chase & Co. CEO Jamie Dimon and US Treasury Secretary Steven Muchukin.