Pakistan To Repay Saudi Load: Pakistan is currently struggling with the double pressure of economic and energy crisis. In the latest development, Pakistan has decided to return the loan of two billion dollars on the demand of United Arab Emirates (UAE). According to media reports, this amount was earlier given to support the Balance of Payments and was kept as a safe deposit in the State Bank of Pakistan.

Pakistan will repay the loan

Now, amidst the increasing tension in West Asia and the war situation related to Iran, UAE has immediately asked for it back, which Pakistan can return by the end of this month.

Meanwhile, the direct impact of rising global oil prices has been seen in Pakistan. Due to the ongoing conflict between the United States, Israel and Iran, the Pakistan government has drastically increased the prices of petrol and high-speed diesel (HSD). The price of petrol has been increased by about 43% to Rs 458.41 per liter, while diesel has increased by 55% to Rs 520.35 per liter. Apart from this, the price of kerosene oil has also been increased.

The government has also made changes in petroleum duty. Tax on petrol has been increased to Rs 160 per liter, while duty on diesel has been reduced to zero to provide some relief. Pakistan’s Petroleum Minister Ali Pervaiz Malik has called it a “difficult but necessary decision”.

Petrol and diesel made expensive

According to experts, this step has been taken to control increasing consumption on the one hand and maintain economic stability amidst limited resources on the other. However, the government is still giving limited subsidies to motorcyclists, farmers and the transport sector.

The pressure of loan repayment and expensive fuel have put additional burden on Pakistan’s economy, due to which the impact of inflation on the general public is likely to increase further.

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