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LatestPakistan

Pak planned to repay $2 billion loan at Saudi request

By Staff Writer

This month Pakistan will repay 1 out of 2 billion US Dollar debt to Saudi Arabia according to schedule, while it will return the other 1 billion Dollar next year,  as the Kingdom turned their eyes blind and demanded to repay the money.

According to sources, Pakistan is preparing to receive loans from alternative sources. Pakistan will borrow 1.5 billion Dollar from China, while it will be benefitted worth of 7 million Dollar from Eurobonds, which will also be issued in the next few weeks.

On the other hand, according to the Ministry of Finance, the present government inherited the loan. The government needed Rs 1,000 billion to repay for the interest on loans from July to October.

Further the Government have paid 4700 billion Dollar till June 2020 for the interest on loans, however, 5700 billion Dollar have paid for interest collectively.  The current government has kept its spending under control and increased cortex and non-tax revenues, while preventing an increase in debt this year.

Staff Writer
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