Headlines: • Déjà vu Sudan • Pakistan Turns to IMF Again • New Bill to Remove British Citizenship Déjà vu Sudan After being removed in a coup a month ago Abdalla Hamdok has reinstated by General Abdel Fattah al-Burhan after signing a political agreement. Twelve cabinet ministers submitted their resignation in protest against the political […]
We are suffering immensely, as the economy obviously collapses, despite the reassurances of Pakistan’s rulers. The rupee is collapsing in value, whilst inflation is spiralling out of control. Fuel, electricity and gas prices are all increasing, as are taxation and unemployment. As if our economic misery were not enough, the rulers use the weak economy […]
By November 2021, the Rupee fell to 175 Rupees to a dollar, unleashing crushing inflation upon the citizens of Pakistan. Inflation is a permanent feature of the capitalist economy, irrespective of the re-opening of the economy after lockdown. Unlike Islamic gold and silver currency, fiat paper money loses its purchasing power, as governments print more […]
Nothing Less than the Sound Economic Policies of the Khilafah Will End Inflation The Muslims of Pakistan are crushed by waves of back-breaking inflation as the Rupee crumbles before the dollar. Household budgets for many are stretched to provide just two meals a day. Despite the hue and cry against inflation by the opposition, it […]
Turkey: The rate of rise that government employees and retirees were eagerly waiting for has become clear. The salary of government and retired employees was increased by 5 percent in the first six months of 2022, 7 percent in the second six months, 8 percent in the first six months of 2023, 6 percent in […]
The Pakistani rupee has been depreciating rapidly over the past month. On 10 July, 2021, one dollar was selling at Rs. 155.92, whilst on 5 August 2021, one dollar was selling at Rs. 163.41. Thus, in less than a month, the rupee has lost Rs 7.49, or 4.8 per cent, of its value against the […]
The government has set higher targets for rates of economic growth, inflation and fiscal deficits for the next fiscal year. This is partly based upon irrational exuberance about this year’s growth indicators and partly on tacit approval by IMF for an expansionary policy stance. The façade of current growth claims is evident from the on […]
