• Sunday, December 15, 2019

Pakistan Russia Signed Agreement on Past Dispute . Dec , 2019 .

Discussion in 'Pakistan Economy' started by Pakistan Ka Beta, Dec 4, 2019.

  1. Pakistan Ka Beta

    Pakistan Ka Beta FULL MEMBER

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    [​IMG]
    Pakistan to Repay $93.5Mln Debt to Russia on Former Soviet Union's Operations
    © AP Photo / Pavel Golovkin
    ASIA & PACIFIC
    21:28 02.12.2019(updated 15:01 04.12.2019)Get short URL
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    MOSCOW (Sputnik) - Russia and Pakistan signed an agreement to settle mutual financial claims and obligations on operations of the former Soviet Union, according to which Pakistan will repay the debt to Russia in the amount of $93.5 million, a Sputnik correspondent reported from the signing ceremony.

    On the part of Russia, the agreement was signed by Deputy Finance Minister Sergey Storchak, on the part of Pakistan, Ambassador Qazi Khalilullah.

    The debt repayment will reportedly enable Russia to invest about $8 billion in different sectors in Pakistan, including, first of all, the energy and steel industry.



    [​IMG]
    © REUTERS / P. RAVIKUMAR
    Russia, Pakistan Call for Int'l Efforts to Avoid Military Confrontation in Space
    In the 1980s, the Soviet Union imported from Pakistan textile and other products, and opened two bank accounts in the National Bank of Pakistan (NBP) for these purposes. Due to the collapse of the Soviet Union, some Pakistani exporters remained unpaid for their goods. In 1996, the Sindh High Court limited fund transfers from the NPB's Russian bank accounts.


    Earlier in June, Russia and Pakistan signed a memorandum of understanding on constructing the North-South gas pipeline by 2020. The pipeline, with investments worth of $3 billion, is planned to connect Iran, Pakistan and India. Last year, Moscow and Islamabad also voiced negotiating on possible participation of Russian corporations in the projects for construction of Turkmenistan-Afghanistan-Pakistan-India Pipeline.

    https://sputniknews.com/asia/201912...to-russia-on-former-soviet-unions-operations/
     
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  2. Pakistan Ka Beta

    Pakistan Ka Beta FULL MEMBER

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  3. Oracle

    Oracle FULL MEMBER

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    its good
    lets burry the past and move on
     
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  4. Sheikh Rauf

    Sheikh Rauf SENIOR MEMBER

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    93 million mein past burry hota hai to lets do it.
     
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  5. TOPGUN

    TOPGUN PDF THINK TANK: ANALYST

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    I still don't understand what is this past debt about ?
     
  6. Starlord

    Starlord ELITE MEMBER

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    Interesting part is that once its paid, it will enable Russia to invest around 8-9Billion $ in various sectors, Plus maybe and its big maybe it will eventually help forward some of the defense deals we are trying to make with Russians . We have no Conflict with Russia, and honestly speaking with US influence getting low by every passing day we can not afford to have giant Regional and military power .
     
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  7. T|/|T

    T|/|T FULL MEMBER

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    USSR used to buy textiles from Pakistan. They had an account in NBP. On collapse of USSR the exporters were not paid and they went to court, which in turn blocked those accounts with funds in them. Some exporters were compensates from that fund. It was their money left i guess. Its good that such small issues are resolved.
     
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  8. mourning sage

    mourning sage FULL MEMBER

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    More importantly, have the US objections from Iran Pakistan gas pipeline been lifted? We've been neglecting our own energy requirements because of US pressure for more than a decade now. What changed?
     
  9. AZADPAKISTAN2009

    AZADPAKISTAN2009 ELITE MEMBER

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    Good that Pakistan is moving forward as a neutral country like Norway or Sweeden in Europe on many international matters