The Solution is to Make this Sector Public Property, Under State Supervision, as per the Shariah Rulings of Islam. With the arrival of the August bills, the public’s patience finally ran out. For the past several years, electricity bills have been increasing rapidly, upon dictation by the IMF. From July last year to July this […]
On 1 August, 2023, Pakistan Minerals Summit 2023 was jointly hosted by the Ministry of Petroleum and Barrack Gold Corporation. In his address, the Minister of State for Energy, Petroleum Division, Dr. Musadik Malik invited foreign investors to invest in various sectors of Pakistan, especially minerals and mining. He said that the aim of the […]
In his inaugural speech on the 29th of May 2023, Nigerian president Bola Ahmed Tinubu ended the fuel subsidy per the provision of former Nigerian president Muhammadu Buhari’s administration. With a deteriorating economy and worsening debt profile, the idea that the subsidy hindered progress, among other myths, was finally sold widely. The masses did not […]
Kenyans are bracing for more hard and tough times over the proposals in the 2023 Finance Act. The tabled financial bill is reinstating 16 per cent value-added tax on petroleum products as well as introducing a housing levy of 3 percent. Prices of nearly all goods and services have gone up in recent months including […]
Through democracy’s implementation of Capitalism, the government is responsible for Pakistan’s electricity crisis. The present capitalist system ensures that through privatization a few private owners, foreign and local, fully benefit from electricity resources whilst the public faces hardship. Privatization raises electricity prices so that the private owners can profit in their business. As an example […]
Electricity is expensive because of the capitalist economic order. Private companies raise costs to ensure profits. In Islam, electricity is public property that cannot be privatized. The Messenger of Allah (saw) said, «المسلِمونَ شُركاءُ في ثلاثٍ في الكَلَإِ والماءِ والنَّارِ» “The Muslims are partners in three things; pastures, water and fire (energy)” (Abu Daud). The […]
The increase in taxes in Ukraine will provoke a slowdown in the economy and will automatically lead to an increase in prices for goods and services. This was stated by investment analyst Eric Nyman.
