Pakistan will continue to beg, no matter who rules it

Pakistan has been ravaged by a wave of problems that includes the economy, floods and terrorism. Many experts say that Pakistan has always been too dependant on funding from other nations

New Delhi, Jan 18: The economic mess in Pakistan is getting worse and the country is finding it hard to get out of this. It would take a massive effort for Pakistan, which is South Asia's weakest economy to pull itself out of this mess.

Pakistan has been reporting a food and economic crisis, allegations of land grabbing by its army and a steady rise in incidents of terror. Last July the country reported unprecedented floods which ravaged large swathes of farmland. In addition to this the forex reserves in the country hit a new low of $4.6 billion. This means the country will have enough to pay for foreign import bills for three weeks. A report by Islam Khabar said that analysts put Pakistan's need for relief at $33 billion.

The report said that friends of the country have renewed its pledge to help the ravaged nation. Better off nations have come forward with commitments of $10 billion. Countries including Saudi Arabia and the UAE have chipped in with four billion dollars this months, Islam Khabar also reported.

The report further said, imagine the country with one of the world's most irrigated fertile wheat growing land has a shortage of flour and no money to import it.

The PKR remains at a three month low due to the dragging talks with the International Monetary Fund. The Express Tribune on January 12 this year while citing a currency exchange expert said that Pakistani Rupee's fair value is the one prevailing in the black market at Rs 260-270 to a dollar. The government has kept the currency artificially overvalued, It should let market forces determine the exchange rate meet an IMF's condition.

Islamic Khabar also said that the begging continues no matter who rules Pakistan. The country fails to acknowledge the damage caused by the China-Pakistan Economic Corridor to the fragile Himalayas in Gilt-Baltistan.

Maleeha Lodhi, a former ambassador to the US, UK and UN pointed out recently that living of other people's money is hardly a national achievement. Initially it was dependancy on the West and now it is China. His habit of depending on others has become deeply entrenched into the political culture. There is little questioning among those in power for that mattering the establishment whose leaders join in and often spearhead the effort to seek lifeline funds from friendly nations, she also said.