KARACHI: The Karachi chapter of the Jamaat-e-Islami (JI) has exhorted the federal government to get rid of the International Monetary Fund’s (IMF) interest-based economic system, saying an independent economy is vital for efforts to strengthen the country.

“The incumbent government is following in the footsteps of the ousted PTI government when it comes to devising economic policies,” said Hafiz Naeem-ur-Rehman at an Iftar-dinner held in Gulshan-e-Hadeed.

He said the coalition government led by the Pakistan Muslim League-Nawaz (PML-N) is expressing joy over the latest understanding it has reached with the IMF, even though this will open another floodgates of inflation, he said.

“As an initial result, the federal government is (soon) going to drop a petrol bomb,” the chief of JI Karachi said.

The Jamaat has been struggling against the interest-based system of economy, but the PML-N supremo, Nawaz Sharif, unfortunately moved the Supreme Court of Pakistan in the 1990s to foil his party’s efforts, he said.

The Pakistan Tehreek-e-Insaf government also did nothing against the interest-based mechanisms although it claimed to be spearheading efforts aimed at establishing “Riyasat-e-Madina”.

The JI leader said the previous PML-N government cut supply of natural gas to the Pakistan Steel Mills, and the Pakistan People’s Party government made the situation worse through political interference.

Copyright Business Recorder, 2022