Pakistani central bank subordinated to the IMF: the head of Jamaat-e-Islami
New Delhi: Sirajul Haq, head of Jamaat-e-Islami (JI), announced an anti-government movement, claiming that the State Bank of Pakistan (SBP) is no longer under his control, but has been subordinate to the International Monetary Fund (IMF), The Express Tribune reported.
Speaking at a public rally in Islamabad, the JI chief called for the resignation of SBP governor Reza Baqir, saying that if the latter is not removed, “we can besiege the SBP.”
He also called for the resignation of Prime Minister Imran Khan, saying that there are mafias all over the country and that 2022 will be the last year of government. He announced an anti-government movement that would culminate in Islamabad, according to the report.
Siraj rejected the interest-based economic system, arguing that Pakistan was not created for usury and corruption.
He said other countries including the US, UK and Japan have “cut interest rates to zero” but the Pakistani system has been shackled under a “conspiracy” as 35 45% of its income is spent on interest-bearing loans.
He also said the government is making false claims about an Islamic welfare state, while the experience of 75 years suggests the country has not been able to develop due to the interest, according to the report.
He added that the interest-free trade bill was passed unanimously by the Senate, but the government does not want to present it to the National Assembly.
JI chief pointed to government “failures”, ranging from keeping Pakistan on the Financial Action Task Force’s (FATF) “gray list” to introducing “mini-budget,” the Express reported. Tribune.
He suggested a link between the government and the opposition, saying the latter facilitated the movements of the former instead of talking about public issues.
He attributed the country’s endemic poverty to the interest-based system, which weighs on the masses. He also said people don’t pay taxes in the country because of its corrupt rulers. He further underlined how inflation hurts the masses.
He asked Prime Minister Imran Khan to tell the nation how many houses his government had built out of the five million houses promised by Pakistan Tehreek-e-Insaf.