All posts filed under: Economy

Annual Budgets Estimates Will Not Save the Public from Economic Crises of Capitalism

On Thursday, June 13, 2019, the Cabinet Secretary for Treasury Henry Rotich, released the estimates of 2019/2020 Budget. The estimates amounted to 3.02 trillion Shillings with fiscal deficit standing at 607.8 billion shillings. With deeply steeped in debt that already has hit Sh5.6 trillion, the Government is expected to borrow more in the next financial […]

The Trade War

Today’s far eastern region is experiencing an extreme economic dynamism. Simple statistics dramatically highlight that reality. Ever since post 1991 the East Asian region became roughly equal in GNP compared to North America. Due to the factors of globalization many developing countries became part of multilateral organisations IMF and the world bank, due to capitalism’s […]

Pakistan’s Rulers Submit to the IMF, so Colonialist Plans, Companies and Creditors Advance at Our Expense

بسم الله الرحمن الرحيم On 11 June 2019, the Minister of State for Revenue, Hammad Azhar, proposed a national budget that came as a hammer blow to the people. At a time the economy is already suffering immensely due to the choking effects of huge taxation on buying, selling and production, the Federal Board of […]

Reject the Colonialist National Budget that Squeezes Us and Our Armed Forces to Protect Foreign and Local Creditors and their Capital

The mounting fear over budget revelations over taxation and cuts were proved valid much to the dismay of the long suffering Muslims of Pakistan. After the staff-level agreement with the International Monetary Fund (IMF), the Minister for Revenue, Hammad Azhar, announced a budget on 11 June 2019 that both crushes Pakistan’s economy with oppressive taxation […]

Q&A: Dissolving a Company and the Refutation of Commercial Company of Joint Liability

Assalam Alaikum Wa Rahmatullah Wa Barakatuh, Dear Brother, Amir of Hizb ut Tahrir, May Allah protect you and look after you, and may He give you tawfeeq (success) to all that is good. The first question: Is there a difference or contradiction between the following statements; or is there a deletion in the second statement […]

The Treacherous Awami Government is Crushing the Backbone of our Agriculture in Favor of India and the Local Capitalist Syndicate

The Khilafah (Caliphate) will free the Farmers from the Clutches of these Criminals and ensure Food Security The government is trying to appease the escalating angry protests of farmers regarding the drastic fall of the selling price of rice by declaring rice procurement programs at the local supply depots. The suffering farmers claim that the […]

The Khilafah will Ensure Sizeable Revenues for the State, without Burdening the Poor through Cruel Regressive Taxation

In accordance with the agreement with the IMF, on 26 May 2019 the regime’s economic team firmed up budget proposals for taxation measures, for 2019-20. On 25 May 2019, the regime announced it would increase next tax collection target to Rs5.550 trillion, almost 35.4 percent more than the current year’s revised estimate. The 35% increase […]

The Khilafah will Build a Strong Economy for the Ummah through the Unification of the Current States as one Resourceful State

As the Muslims of Pakistan are reeling under the IMF assault on the economy, the Prime Minister, Imran Khan, said on 19 May 2019, “I assure you that the country which will emerge as the leading economy in the region will be Pakistan.” However, Imran Khan’s repeated grand sweeping reassurances are built on hot air. […]

The Khilafah’s Gold and Silver Based Currency is the Solution to Back Breaking Inflation Caused by the Collapsing Pakistani Rupee

Just after Pakistan’s rulers reached an agreement with the IMF, the Pakistani Rupee collapsed in value in front of the dollar, which will unleash a flood of severe inflation and hardship on the masses. On 16 May 2019, the value of the dollar against the rupee reached almost Rs148 in the interbank market, another all-time […]

The Justice of Islam and the Failure of Capitalism, from Justice and Prosperity to Injustice and Deprivation

When the Prophet ﷺ was calling for the good (i.e. Islam), he ﷺ was simultaneously refuting the prevailing system of ignorance (Jahiliyah) and exposing its corruption. So with his call to worship Allah alone (Tawheed) and to leave the worship of idols, he also attacked the corrupt system they lived in, condemned their cheap lives, […]

Pakistan’s Rulers Ensure the Continued Destruction of the Economy through a New Deal with the Colonialist IMF

In its press release no. 19/157, dated 12 May 2019, the International Monetary Fund confirmed an agreement with Pakistan’s rulers, subject to approval by the IMF’s board of directors in Washington. Pakistan’s new budget will increase the tax burdens on its people, with the IMF stating that the budget will, “eliminate exemptions, curtail special treatments, […]

Imran Khan Strengthens America’s Economic Colonialism of Pakistan by Surrendering to the IMF and World Bank

Regarding the ongoing furious debate over the appointments of a former IMF official as the Governor of the State Bank of Pakistan and a former World Bank official as the Advisor to the Prime Minister for Finance, it is certainly not enough to merely reject Western economic hit men. In order for Pakistan to escape […]

Pakistan’s Regime Worsens the People’s Hardship in Ramadhan by Raising Prices of Petrol to Over Rs 100 per Litre!

Whilst the people frantically bought food supplies ahead of expected price surges in Ramadhan, the cruel regime announced increases in fuel prices, including petrol. This will further increase food prices as it will increase the cost of transporting food from agricultural areas to shops. Headed by the newly appointed IMF favorite and economic hit man, […]

Loan Rescheduling Scheme to Bailout Large Loan Defaulters: Hasina Regime’s Approval of Wholesale Looting by Crony Capitalists

The ruling class and their crony capitalists in Bangladesh are proving to be monsters with their systematic exploitation of the banking system to plunder people’s wealth. The Finance Minister A.H.M. Mustafa Kamal, owner of the business conglomerate Lotus Kamal Group and a faithful representative of the business elites in Bangladesh, has declared a ridiculous bailout […]

Pakistan’s Leadership is Running the Economy into the Ground, Whilst Giving False Hope of Recovery

In his article “A Stabilizing Economy; Reversing the Damage” of 31 March 2019, Pakistan’s Minister of State for Revenue, Hammad Azhar, confirmed that the current leadership is implementing the very IMF guidelines that have damaged our economy over the last three decades. It is not corruption alone that caused the current, massive economic crisis. The […]

The Establishment of the Islamic Economic System is Mandatory for Economic Progress and Revival, Not Incentives for Foreign Investors

The Malaysian Prime Minister, Dr. Mahathir Mohamad, during his visit to Pakistan said that he had offered tax holidays to foreign investors for two decades, whilst sharing the “secret” of Malaysia’s economic success, during a business conference in Islamabad, held on Friday 22 March 2019. Economic activity may be boosted for a short while by […]