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Pakistan Paid Back $1bn Loan Pre-Schedule To Save Saudi Arabia’s Economy: FM Qureshi

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Foreign Minister Shah Mahmood Qureshi, who recently lashed out at Saudi Arabia for being reluctant on its support to Pakistan over Kashmir, has claimed that Pakistan returned $1 billion to the Kingdom to support its economy strained by the Covid-19 crisis.

It may be noted here that Pakistan took the amount from China to return the money it owed to Saudi Arabia after Qureshi gave an ultimatum to Saudis over their stance on Kashmir.

Speaking on a TV show, Qureshi said Pakistan and Saudi Arabia were close partners and that Islamabad was always already to support Saudis in a difficult time. He added that the decision to pay back had nothing to do with his diatribe.

When asked whether Saudis got their money back after his statement against the Kingdom, Qureshi said his statement didn’t affect the relations between the two countries, as he knew Saudis would understand Pakistan’s concern on Kashmir due to close proximity of two allies.

According to a report in Express Tribune on Aug 6, Pakistan paid back Saudi Arabia $1 billion ‘after the kingdom decided to reduce its financial support’. The development had come a day after FM Qureshi asked Saudi Arabia to support Pakistan on Kashmir or it would have to look for other options.

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