Pakistani rupee plunged to an all-time low against US dollar on Monday. The dollar-rupee exchange rate crossed the barrier of Rs 74 amid uncertainty over the fate of President Pervez Musharraf. Pakistan's economy has been under tremendous inflationary pressure. The deficit is a problem and the stock market has also taken a beating. Rupee has been sliding for months and the country's political woes have contributed to its downfall. Exporters are holding their dollars abroad whereas panicky importers are buying more and more dollars because of uncertain political situation. In the battle between Parliament and President, the country is suffering one set back after another. Economic setback is something Pakistan cannot afford. It is shameful that during the 60s we were considered a model economy for Asian countries but are now nowhere to be seen. Pakistan has never witnessed political stability which in turn has told on the economy most of all. If this trend continues the rupee will fall to levels we cannot imagine now. -DAWOOD SHAKIL, Rawalpindi, via e-mail, August 12.