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IMF Prepares Pakistan's Budget_ Abolish Democracy, Establish Khilafah to Restore Economic Sovereignty

IMF Prepares Pakistan's Budget_ Abolish Democracy, Establish Khilafah to Restore Economic Sovereignty

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Published by: Rizky M Faisal on Apr 17, 2013
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4/18/13IMF Prepares Pakistan's Budget: Abolish Democracy, Establish Khilafah to Restore Economic Sovereigntywww.khilafah.com/index.php/the-khilafah/economy/15793-imf-prepares-pakistans-budget-abolish-democracy-establish-khilafah-to-restore-economic-sovereignty1/2
StructureIssuesKhilafahJudiciaryEducationNon-MuslimsForeign Policy
Social System
Regardless of the changes of faces on 11 May 2013, democracy will ensure that our budget is madeby the colonialists. During its April 17-22 visit to the United States,a six-member delegation,including the secr etaries for finance and economic affairs, the SBP governor, additional secretary for external financeand chairmanof the Federal Board of Revenue, will take orders from the International Monetary Fund (IMF) and key officials of the UStreasury department about our budget. Then as has happened every year, whether under democracy or dictatorship,a Letter of Intent will be signed and then the AmericanapprovedPakistani budget will be unleashed on analready crippled economy, af ter elections for achange in faces. Under the supervision of the IMF and its partner in economic destruction, the World Bank; Pakistan has beenstrangled by huge taxation on earnings and consumption of goods which is constantlybeing increased as a proportion of the total revenue. In 2011-12, the government extracted Rs. 730,000 million in income taxes alone,which is more than the entire revenue collected in 2002-3.This has meant that the labour force, blue and whitecollar workers are facing ever greater hardships, with increased taxation eating away at their wages. Moreover, inthe 2012-13 budgets, the government is now chasing a target of a staggering Rs. 914,000 million. Consider alsosalestax that has swollen from 9% to 43% of the state's major taxes. It is this sales tax that has made buyingmedicine, food, inputs for agriculture and industry unbearable for people,choking their ability to contribute to theeconomy and secure basic needs. In 2011-12, the government extractedRs. 852,030 million in general salestaxesand in the 2012-13 budget, the target is Rs. 1,076,500 million. As long as the democracy system remains, the situation will worsen, no matter who comes to power. Democracycan only produce such failure as it is designed to neglect the affairs of thepeople and this is why all those whoseekpower in this rotten system are also calling for increased taxation in their manifestos.Hizbut-Tahrir's campaign is far more substantial than just a simple boycott of elections for democratic leaders,as misreported in the press. Hizb ut-Tahrir's campaign is to abolish democracy and establish the K000 under the leadership of its Ameer, the distinguished jurist and politician, Sheikh Ata Ibnu Khalil Abu Arrashtah. Onlyunder the Khilafah will elected rulers and representatives have any real meaning. And only under the Khilafah will economic sovereignty be restored. Islam does not rely on taxation on income andconsumption as virtually the sole means to generate revenue. Its revenue generation is based on accrued wealthbeyond the basic needs or upon actual production. Even when the Khilafah does tax, it is with stringentconditions that are based upon accumulated wealth, so it does not penalize the poor and under-privileged whoare unable to secure their basic needs. And this is aside from the huge revenue that the state will generate fromstateowned and publicly owned enterprises such as energy resources, machinery and infrastructuremanufacture. Industry will thrive in the Khilafah. It will not be strangled bytaxes for all manner of crucial inputs,fromenergy to machinery. Instead, the state will generate revenue from pr ofits of the trade and accrued tradingmerchandise. This allows businesses to focus on production withoutfetters, whilst circulation is ensuredthrough their giving of revenues from their profits or accrued wealth. InIslam, the taxation is not based onconsumption of agricultural inputs, but on production from the land, which enables the farmer to maximize theproduction, without being slowed down by over-expensive inputs.
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