Goods train service between Russia and Pakistan will start soon. Its trial run will be done by March next year. The goods train started from Russia will reach Pakistan via Azerbaijan and Iran. Pakistan's Energy Minister Awais Ahmed Khan Leghari gave this information in an interview to Russia Today.
Leghari said that talks are also going on to increase air connectivity between the two countries. Direct air service between the two countries may start soon.
Just two days ago, 8 MOUs were signed between Russia and Pakistan. It has been agreed to increase cooperation in many other areas including health, trade and education.
The agreements were signed in a meeting held between the officials of the two countries from December 2 to 4.
The corridor will benefit Pakistan economically and politically The Pakistani minister said that Pakistan will also get economic and political benefits from this corridor. Relations between the two countries have not been special for a long time. In such a situation, relations can be strengthened after opening this corridor.
Earlier this year, the Russian ambassador to Pakistan said that bilateral trade between the two countries is increasing. The trade between the two countries is about $1 billion.
Pakistan's Ambassador to Moscow, Mohammad Khalid Jamali, has expressed his desire to join the International North-South Transport Corridor (INSTC) connecting Russia with India. Jamali said that Pakistan is ready to join INSTC. INSTC is a 7200 km long corridor, connecting Russia, Central Asia to India via Iran.
Saudi Arabia extends loan repayment deadline Saudi Arabia has extended the repayment deadline of $3 billion loan to Pakistan by one year. Suffering from a shortage of funds, Pakistan currently does not have sufficient resources to repay the loan.
Saudi gave this loan to Pakistan for 1 year in 2021. However, the deadline was later extended to 2022 and 2023.
Pakistan has to pay around $13 billion to Saudi Arabia, China and the UAE by June next year. Pakistan owes the highest debt to China. China accounts for 45% of Pakistan's total debt. According to 2023 data, Pakistan has a debt of 43 percent of GDP.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
