This letter refers to the article ‘The viability of de-dollarization’ (TNS, January 28, 2024) by Muhammad Umar Ayaz and Salman Danish. The article noted that in 2022, Pakistan’s imports stood at a staggering $80 billion whilst our exports were a mere $31 billion. The piece also mentions that although Pakistan is exploring various options to curtail its dependence on the US dollar, complete de-dollarization would be unattainable for Pakistan, at least in the short-to-medium term. I would advise the government to go for partial de-dollarization in the near-term and to beef up all our forex holdings, so that, in the long run, we are able to bid farewell to the IMF and its harsh prescriptions.
Meanwhile, the policies to compress imports must remain for another two years. The imports of costly vehicles as well as fashionable items (foreign foods, branded-wear, pet food, etc) should be strongly regulated as these are a drain on our forex holdings. However, investment must be encouraged, which can propel our output and exports.
Abbas R Siddiqi
Lahore
Consumer Price Index inflation rose by 3.46 per cent year-on-year in May 2025, up from a near decade-low of 0.3 per...
A large portion of our population remains deprived of basic digital skills. To build a stronger Pakistan, we must...
I am writing to express my deep concern about the US intervention in the Israel-Iran conflict, led by its president,...
It would have been ideal for both India and Pakistan to coexist as peaceful neighbours. However, the Hindutva mindset...
I would like to highlight a pressing issue faced by the residents of Mansoor Nagar, Sector 11 ½, Orangi Town,...
Recent floods and rising temperatures have profoundly impacted lives and agriculture, highlighting the urgent need for...