China to Give Pakistan 'Grant' as UAE Mulls $6B in Aid

[Kambojaric]

We still need to work on corruption as well.

Or maybe we can just do what America does, legalize corruption and call it "lobbying".



Pakistan needs to stop burning through its reserves trying to keep the value of their currency up. Let it fall to market levels. There will be a lot of short-term pain as the costs of imports go up, but it will be good for the competitiveness of Pakistan's domestic industries in the long-term.

Unfortunately we have too many idiots in our country who believe a strongly valued currency is the sign of a strong economy and thereby nation. Parties which devalue the currency usually face a barrage of criticism from the opposition for weakening the nation. This is simply not sustainable and is one of the many structural reforms the Pakistani economy desperately needs. Many like me are hoping Imran Khan is the man to make these bold but necessary decisions. There will be pain in the short term as you said, and imports will become expensive but if we can get discounted oil and gas from the Gulf countries then that goes some way towards reducing the impact of a rupee devaluation on import levels.