Severe inflation has struck Pakistan for the last two years, intensifying in recent days. Flour, lentils, fruit, vegetables, eggs, meat, milk, electricity and gas bills and school fees are almost out of reach for much of the population. The Bajwa-Imran regime as usual is undertaking optics without any change on the ground, such as grand announcements about controlling inflation or monitoring prices, as if it had no idea that IMF devaluation policies would unleash the beast of inflation. Inflation is part and parcel of the capitalist system due to its concept of currency, whether it is headed by Musharraf-Aziz, Kayani-Zardari, Raheel-Nawaz or Bajwa-Imran.
Fiat currency system causes generalized inflation due to increase in its monetary supply. In contrast, in Islam, the currency is backed by gold and silver and so the government can neither print money, which causes inflation.
Localized inflation through shortage of specific goods occurs due to the backing of corrupt officials in league with large-scale capitalists, hoarding and making cartels to make huge profits at the expense of the people. Due to IMF demands to conserve dollar reserves, there is delay in the import of essential items like edible oil, LNG, wheat, sugar and other food items. In Islam, the Khaleefah is the guardian, responsible and responsive to the needs, mindful of accounting in the Hereafter (Akhira). The Khaleefah will take stern action against hoarders and punishes them. He will mitigate against the creation of monopolies and cartels, by employing state resources and through the system of punishments. The Khaleefah will abolish all taxes on imports, closing the doors for manipulation by large-scale capitalists with influence upon legislature. The Khaleefah is responsible before Allah (swt) to implement them. The Messenger of Allah ﷺ said, «مَنْ احْتَكَرَ عَلَى الْمُسْلِمِينَ طَعَامًا ضَرَبَهُ اللَّهُ بِالْجُذَامِ وَالْإِفْلَاسِ» “Whoever hoards food (and keeps it from) the Muslims, Allah will afflict him with leprosy and bankruptcy.” (Ibn Majah narrated by Umar).
In addition there is the exorbitant increase in energy prices, increasing the cost of doing business, trade, manufacturing and farming. Privatization of electricity generating units, usury based investments in energy infrastructure and guaranteeing profits to local and international investors all cause unaffordable electricity. Islam declares all energy resources as public property and prohibits usury. The Khaleefah can neither privatize oil and gas resources nor electricity generating units, controlling the price of energy and bringing relief to the people.
Like previous democratic and dictatorship projects, the PTI project has failed because nothing other than the Law of Allah (swt) can succeed in the Muslim World. The dawn of the Khilafah is near, so let the people of power turn their backs on the Law of Man and become supporters, Ansar, of the project for the Law of Allah (swt), so that they may have the mercy and support of Allah (swt).
Media Office of Hizb ut Tahrir in Wilayah Pakistan
Tuesday, 26th Safar 1442 AH
13/10/2020 CE
No: 1442 / 18