Sir: In a recent report by Bloomberg, it emerged that the Pakistani rupee is the worst performing currency in Asia this year. The State Bank of Pakistan has already devalued the currency three times since the start of the year, and more devaluations are expected in the near future as well. This is an alarming situation for the country, and proves the catastrophic condition our economy is in today.
For all the talk of developing the industry in the country, and bringing in more foreign investment etc., the previous government has completely failed in its mandate. Perhaps if more attention was paid to the economy, and less on building new roads and bridges, perhaps Pakistan would be in a much better position right now.
Soon the country will once again have to turn to international organizations like the IMF, with hat in hand, looking for another handout to help us get out of yet another economic rut. What is also concerning is that while the new election are just around the corner, and political parties are in full campaign mode, none of them are really talking about the steps they might take to improve the current situation. They are too busy pointing fingers at one another to care about the condition of our economy today. Hopefully, whoever wins in the end, has the sense to shift their focus to things that actually matter, and improve our economic situation once and for all.
RAAMEEN SALEEM
Lahore
Published in Daily Times, July 4th 2018.