Is it permissible to increase the price in a manufacturing contract (Istisna'a) if the prices of raw materials suddenly rise?

The istisna’ contract is a sale of a described object in the guarantor’s possession that is required to be manufactured, and the price is paid at the time of the contract. If extraordinary circumstances arise that necessitate an adjustment to the price, such as an exorbitant increase in materials, then the price is changed by agreement of the two parties, or arbitration is resorted to, or the matter is referred to the judiciary. This is what Sheikh Al-Islam Ibn Taymiyyah referred to regarding the reduction of rent when the benefit decreases due to circumstances beyond control, and it has been affirmed by the Sharia standards. Furthermore, a resolution was issued by the Islamic Fiqh Council in Makkah Al-Mukarramah regarding "Extraordinary Circumstances and Their Impact on Contractual Rights and Obligations," which stipulates that in contracts with deferred execution, if circumstances change significantly due to general extraordinary causes, making the fulfillment of the obligation inflict severe, unusual losses, then the judge has the right, in case of dispute, to adjust the contractual rights and obligations, or to annul the contract with fair compensation, based on the opinion of trustworthy experts. The judge also has the right to grant the obligor a grace period if the extraordinary cause is transient. This solution aims to achieve justice and prevent undue harm to one of the contracting parties.