Saudi Arabia terminates loan, oil supply to Pakistan over its stand on 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.
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.
The relationship between the two countries began to break down when Saudi Arabia turned down Pakistan’s call to convene a conference of the OIC’s Council of Foreign Ministers. Islamabad continued to demand the OIC use its position to help Kashmir.
Speaking to Samaa TV, The Foreign Minister, Shah Mahmood Qureshi, stated, “I am once again respectfully informing the OIC that a meeting of the Council of Foreign Ministers is our expectation.”
Kashmir issue into its own hands
The Minister further went on to say that, Pakistan would be forced to take the Kashmir issue into its own hands. He said, “If you cannot convene it, then I will be forced to ask PM Imran Khan to convene a meeting of the Islamic countries that are ready to stand with us on the matter of Kashmir and support the oppressed Kashmiris.”
Qureshi insisted that the OIC, dominated mainly by Saudi Arabia and the Gulf Arab states, must “show leadership on the issue.” He also added, “We have our sensitivities and the Gulf countries need to understand this.”
The Foreign Minister added, “It is right, I am taking a position despite our excellent ties with Saudi Arabia. We can’t stay silent anymore on the agonies of the Kashmiris.”
It is not the first time such tension was witnessed between both countries. In December Last year, Pakistan was compelled by Saudi Arabia to skip the participation of a major summit on the problems facing the Muslim world in Malaysia due to the presence of the Kingdom’s rivals, Iran and Turkey.
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