The mini-budget released on 18 September 2018 revealed huge increases in taxation through the widespread withdrawal of tax and duty exemptions, before the scheduled visit of the International Monetary Fund (IMF) team, which is to demand even more privatization. As such Pakistan’s new rulers have confirmed that there is no change and it is more of the same. There is no change because the current economy in Pakistan is according to Capitalism and not Islam. Capitalism ensures the private ownership of the huge sources of revenue, depriving the state treasury, and then chases the masses for taxation, irrespective of their poverty and hardship. Such indiscriminate taxation cripples agricultural and industrial production, as well as increasing the costs of basic needs. Even back-breaking taxation is not enough to cover shortfalls and so the rulers then seek loans from colonialist financial institutions that can never be repaid because of interest. Indeed, Pakistan has paid the principles of loans many times over, yet is now borrowing to pay off previous debts. And the colonialist loans come with the…
