A wrong step

The devaluation of Pakistani currency has left the entire country worried, and rightly so. It is the most disastrous thing to happen to a country whose imports exceed its exports. The devaluation will make the imported items much more costly and will put an added pressure on an already weak economy. Besides an increase in prices of all kinds of goods and services, this downward adjustment to the value of Pakistani currency will also cause a catastrophic inflation.

It is high time we stopped asking for money from international agencies such as the IMF and became economically self-sufficient.

Syed Ali Musa Zaidi

Rawalpindi