All posts filed under: Economy

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 […]

The Practical Measures to be taken by a Khilafah Rashida to Prevent Unemployment

Unemployment is like other issues and problems created by this global greedy capitalist system, including the implemented capitalist economic system which only produces the calamities and crises and economic calamities, as it created the class system in societies and increased the number of unemployed and depleted people’s savings and shattered the economies of most countries […]

Only the System of Islam Is the Guarantor of a Life Far from Crises

“For the purpose of drawing attention and offering solutions to the financial crises experienced worldwide, the “International Islamic Economics Conference” was organized in Istanbul. The conference, organized by Köklü Değişim, was attended by speakers and guests from many different Islamic countries. The conference discussed the reasons of and solutions to the economic, political and cultural […]

Q&A: The Difference between the Land Title (Raqabah) when it is for the State and when it is for the Individual

Question:                                                                Assalamu Alaikum Wa Ramatullah Wa Barakaatuhu, Pardon me, in the book of the Economic System in Islam by the honorable scholar Taqiuddin an-Nabhani, may Allah have mercy on him, he talked about the Kharaji land and the ‘Ushri land. My question: What is the difference between the land title (raqabah) and its benefit when […]

Imran Khan Collaborates with the IMF, Surrendering Pakistan’s Economy to Colonialist Domination

Imran Khan’s meeting on 10 February 2019 with the IMF chief in Dubai heralds grave new dangers to Pakistan at the hands of the colonialists. The IMF is such a great source of harm that in the US Army’s “Field Manual (FM) 3-05.130, Army Special Operations Forces Unconventional Warfare,” written in September 2008, the US […]

Water Tariffs will be Increased. What is the Difference between the Current and Previous Government?

Water, Land and Natural Resources Minister Dr A Xavier Jayakumar has confirmed that water tariffs will gradually be increased this year in line with the government’s efforts to restructure the water supply services industry in the country. The justification given is to take care of consumers’ interests in getting quality water and to ensure the […]

Just like the First, the Second Mini Budget is Inspired by the IMF Agenda of Exploiting Pakistan’s Economy for Colonialist Interests

The second mini-budget presented on 23 January 2019 is certainly not a cause for rejoicing and praise. The second mini-budget became a practical necessity because the regime strangled the economy so hard with taxation, in its first mini-budget, that the economy choked to the point that its ability to cough up tax revenues was itself […]

Government’s Economic Focus Will Ensure More Economic Misery because it is based on IMF Priorities, not Our Own

Whilst lamenting over three decades of economic failure, on 24 January 2019, the Finance Minister, Asad Umar, revealed the government’s economic focus on addressing, “budget deficit due to an imbalance between government expenditures and revenues, increasing trajectory of imports vis-a-vis exports, and an increase in investments.” Asad Umar further acknowledged on-going negotiations with the IMF […]

The Khilafah Alone Will Rescue Pakistan’s Economy from the Colonialist Trap of the Dollar Peg and Interest Based Loans

As the Muslims of Pakistan brace themselves for the next mini-budget on 23 January 2019, it is clear that the current economic system is the cause of ever worsening economic hardship faced by the masses. Under the current system, Pakistan’s currency is crippled by the dollar peg, which has been imposed by Western colonialists as […]