Hafiz Naeem calls for elimination of interest-based system in Pakistan
Key takeaways
- “The government claims it wants to abolish interest, but the opposite is happening.
- Criticising the federal budget, Hafiz Naeem said it offered little relief to the public and would further increase the burden on ordinary citizens.
- He noted that government employees had been granted a seven percent salary increase, while lawmakers had received 400% raises.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize KARACHI: Jamaat-e-Islami (JI) chief Hafiz Naeem ur Rehman on Monday urged the government to eliminate the interest-based financial system, saying the government is not serious about implementing the constitutional and judicial directives regarding the abolition of riba (interest).
Addressing a press conference in Karachi, Hafiz Naeem said a significant portion of the federal budget is consumed by debt servicing, adding that despite clear court rulings, the government has failed to take meaningful steps towards ending interest-based banking.
“The government claims it wants to abolish interest, but the opposite is happening. Instead of eliminating this system, it is being expanded,” he said.