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KSA suspended deal of loan + oil package of $6.2 billion with Pakistan

Saudi Arabia has suspended a loan and oil supply to Pakistan due to the South Asian country’s criticism that the Saudi-led Organization of The Islamic Cooperation (OIC) is not doing enough to pressurize India on the Kashmir issue.

Last week Pakistan was forced to repay a Saudi loan of $1 billion that the Kingdom called in, after Pakistan requested it to lead the OIC’s support for Kashmir.

The loan was part of a $6.2 billion package affirmed by Saudi Arabia in November 2018. It included a total of $3 billion in loans and an oil credit facility amounting to $3.2 billion. The deal was signed when the Saudi Crown Prince Muhammed Bin Salman visited Pakistan in February last year.

Read more: Suddenly Pak has paid back KSA 1 Billion $ out of the total loan of the 3 Billion $


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