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Sir for 60 years its one side we got free oil for more than a decade some traitor told it to IMF that is why we couldn't get it more and lot of other things we have gotNothing comes free in this world! There are no free binges. When its pay-back time, the Saudis will be having the last laugh. As it is Pakistan's balance of payments situation is precarious, bordering on a debt trap which has reached a critical stage. It will need another package from the International Monetary Fund, one of the country's biggest lenders, before the end of the year to avert a crisis.
Pakistan will need up to $9 billion from the IMF to cushion the economy which currently has just enough hard currency to cover about two months of imports.
Now Pakistan expects about 100,000 barrels of crude oil and about 15,000 tons of furnace oil per day from Saudi Arabia on deferred payment basis for three years. The amount involved is about $12-15bn. Unless the Saudis convert most of it as 'grant', Pakistan will have a tough time repaying the amount.
This ain't no free gift from SA. It's just a straightforward business proposition. So what's all this song and dance about?
Nothing comes free in this world! There are no free binges. When its pay-back time, the Saudis will be having the last laugh. As it is Pakistan's balance of payments situation is precarious, bordering on a debt trap which has reached a critical stage. It will need another package from the International Monetary Fund, one of the country's biggest lenders, before the end of the year to avert a crisis.
Pakistan will need up to $9 billion from the IMF to cushion the economy which currently has just enough hard currency to cover about two months of imports.
Now Pakistan expects about 100,000 barrels of crude oil and about 15,000 tons of furnace oil per day from Saudi Arabia on deferred payment basis for three years. The amount involved is about $12-15bn. Unless the Saudis convert most of it as 'grant', Pakistan will have a tough time repaying the amount.
This ain't no free gift from SA. It's just a straightforward business proposition. So what's all this song and dance about?
Between 1998 and 2002, Pakistan received $3.5 billion (Rs190 billion at the exchange rate at that time) worth of oil from Saudi Arabia on deferred payment, a major part of which was converted into grant.
Source: http://www.defence.pk/forums/econom...llion-saudi-bailout-likely.html#ixzz2U5hG3Qpm
Thanks for another madrassa Saudi Arabia...thank you very much.
Shukran Ya Sheikh...
Actually its Amreeka
they say we won't let you build pipeline and when they say they do it.
funny if SA is paying money for paying circular debt by NS for doing away with pipeline then its a sordid boon
Thanks for the compliment! Much appreciated. We Indians do need to keep our a$$es out of it. Your wish is my command, sir. Please forgive me for hurting your sentiments. Stupid Indians, interfering in what is purely a bi-lateral affair between the Great Kingdom of Saudi Arabia and Pakistan.mr buhurt. Indians has no beef in this keep your Ars out of it.
@Leader @nuclearpak @Spring Onion
Let's keep emotions out of this discussion and have a realistic discussion here.
If you are so against these 15 billion oil, could you suggest any other short term solution? From where in short term Pakistan can arrange such a huge amount to borrow such large amount of oil? Another bailout package from World bank? America? spend our complete 8-9 billion dollar foreign exchange reserves on this problem?
From inside you and me are yearning to get rid of such god damn loadshedding of 15-16 hours and @Leader how was your night spend when light was out from 1 am to 5 am ? and we all agree, short term solution is to reduce circular debt and increase thermal power generation so if Saudia is providing such amount, then why are you criticizing for the sake of criticizing?
If you have any other solution for short term, we are eager to hear from you
Like it is said in report, Iran Pakistan gas pipeline can not be cancelled because it is advanced to such level that if we back out we have to pay a penalty of 500-600 million dollar plus the bad name it brings to Pakistan that no one would be willing to do a business dealing with Pakistan in future. My guess,, Pipeline might get delayed but not cancelled
@Leader @nuclearpak @Spring Onion
Let's keep emotions out of this discussion and have a realistic discussion here.
If you are so against these 15 billion oil, could you suggest any other short term solution? From where in short term Pakistan can arrange such a huge amount to borrow such large amount of oil? Another bailout package from World bank? America? spend our complete 8-9 billion dollar foreign exchange reserves on this problem?
From inside you and me are yearning to get rid of such god damn loadshedding of 15-16 hours and @Leader how was your night spend when light was out from 1 am to 5 am ? and we all agree, short term solution is to reduce circular debt and increase thermal power generation so if Saudia is providing such amount, then why are you criticizing for the sake of criticizing?
If you have any other solution for short term, we are eager to hear from you
Like it is said in report, Iran Pakistan gas pipeline can not be cancelled because it is advanced to such level that if we back out we have to pay a penalty of 500-600 million dollar plus the bad name it brings to Pakistan that no one would be willing to do a business dealing with Pakistan in future. My guess,, Pipeline might get delayed but not cancelled
@Leader @nuclearpak @Spring Onion
Let's keep emotions out of this discussion and have a realistic discussion here.
If you are so against these 15 billion oil, could you suggest any other short term solution? From where in short term Pakistan can arrange such a huge amount to borrow such large amount of oil? Another bailout package from World bank? America? spend our complete 8-9 billion dollar foreign exchange reserves on this problem?
From inside you and me are yearning to get rid of such god damn loadshedding of 15-16 hours and @Leader how was your night spend when light was out from 1 am to 5 am ? and we all agree, short term solution is to reduce circular debt and increase thermal power generation so if Saudia is providing such amount, then why are you criticizing for the sake of criticizing?
If you have any other solution for short term, we are eager to hear from you
Like it is said in report, Iran Pakistan gas pipeline can not be cancelled because it is advanced to such level that if we back out we have to pay a penalty of 500-600 million dollar plus the bad name it brings to Pakistan that no one would be willing to do a business dealing with Pakistan in future. My guess,, Pipeline might get delayed but not cancelled