Analysis, Side Feature, South Asia

The New IMF Deal is Open Enmity against the Muslims which a Change of Finance Minister Cannot Fix

The Capitalist System must be Uprooted

Complying to IMF dictates, the government of change has committed to a host of destructive back breaking measures. It will raise an additional Rs. 1272 billion in taxes for the next financial year, chasing a target of Rs. 5963 billion, when it failed to meet the Rs. 4691 billion target of the current year. General sales tax and income tax alone will increase by Rs. 500 billion.The development levy tax on petrol will be kept at its full, final legal limit of Rs. 30 per litre. It has increased the unit price of electricity by Rs. 5, having already increasing it by Rs. 3.57 recently. It has introduced a SBP sovereignty bill to benefit international creditors. It is to raise the price of gas and no one will be given tax exemptions. It will curtail the development budget and send an audit on Coronavirus expenses. A total of eleven previous and eleven new targets have been added to the agreement.

We ask how can any aware person who is a guardian of the Muslims make such an agreement?! Only a viceroy of the US empire can impose such oppressive measures, assisted by the colonialist appointed Finance Minister and State Bank of Pakistan governor. At a time when the global economy is under severe pressure due to the Coronavirus (COVID-19) disease pandemic, with states announcing support for their economies, the rulers of Pakistan are more concerned about international and local creditors receive interest payments on their loans. Thus, Imran Khan proudly declared that his government had serviced debt to the order of Rs. 35,000 billion in thirty months.

Under both military dictatorship and democracy, in all its forms, the jugular vein of Pakistan’s economy remains under the knife of the IMF, bled at will. No government in the current system will release Pakistan from the grip of the IMF. Now is the time for the Muslims of Pakistan uproot capitalism through the establishment of the Khilafah (Caliphate) on the Method of the Prophethood. Only under Islamic ruling, there will be no payment of thousands of billions of rupees in interest as Allah (swt) has forbidden usury. Prices of electricity, gas and petroleum will not increase every month as Islam declared them as public property, which can never be privately owned, ensuring these public necessities are reasonably priced. Income tax and general sales tax will be abolished as the Shariah does not allow such taxes, increasing the purchasing power of the people which stimulates the economy. We have to rely on Allah Almighty and His commands regarding economy, finance and revenues. Indeed, whosoever relies on Allah (swt), He (swt) never leaves nor abandons him. Allah (swt) said,

[وَّيَرۡزُقۡهُ مِنۡ حَيۡثُ لَا يَحۡتَسِبُؕ وَمَنۡ يَّتَوَكَّلۡ عَلَى اللّٰهِ فَهُوَ حَسۡبُهٗؕ]

“And gives him sustenance from where he did not expect. Whoever puts his trust in Allah, He (Allah) is Sufficient for him.” [Talaq 65:3].

Media Office of Hizb ut Tahrir in Wilayah Pakistan

Press Release
27 Sha’aban 1442 – Friday, 9th April 2021
No: 63 / 1442