SAUDI ARABIA ENDS LOAN AND ASSOCIATED OIL SUPPLY TO PAKISTAN

Saudi Arabia ends a loan and associated oil supply to Pakistan due to Islamabad’s censure that Riyadh dominated organization of Islamic cooperation (OIC) is not doing enough on the issue of Kashmir. Further weakening relations between the two allies. Also, Pakistan’s Foreign Minister threatened to split OIC if the group fails to convene a stand-alone session on Kashmir.

In November 2018 Saudi Arabia had announced a $ 6.2 billion loan in which a total of $3 billion was as loan and the other was oil credit facility of $3.2 billion. In February last year crown prince of Saudi Arabia Muhammad Bin Salman made a visit to Pakistan and those deals were signed then.

Saudi Arabia is focusing on further expanding partnership with India and has not shown any willingness to convene a stand-alone meet on Kashmir.

Pakistan’s Foreign Minister Shah Mehmood Qureshi, last week asked OIC to stop delaying convening a meeting of the group’s Council of Foreign Ministers on Kashmir.Qureshi had told local media: “I am once again respectfully telling OIC that a meeting of the Council of Foreign Ministers is our expectation. If you cannot convene it, then I’ll be compelled to ask Prime Minister Imran Khan to call a meeting of the Islamic countries that are ready to stand with us on the issue of Kashmir and support the oppressed Kashmiris.”

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