Traders shut down markets across Pakistan in protest against ‘unfair’ taxes on July 13 almost all businesses remained closed in Karachi, Lahore, Islamabad, Peshawar and Quetta due to the shutter-down. The estimated loss to Pakistan’s economy is around 20-25 billion as sources say this nationwide is to press the government to withdraw its anti-business measures through the 2019-2020 budget.
The country’s single most immensely colossal wholesale market, Jodia Bazaar, and other markets including Sher Shah Scrap Market, timber, steel, cloth, sports markets, Light House in the old city area and markets Bahadurabad observed no or partial strike after their representative trade bodies claimed prosperity in second round of verbalizes with the Federal Board of Revenue (FBR) Chairman Shabbar Zaidi and his team.
They demanded that the government withdraw conditions on traders of amassing a replica of Computerised National Identity Card (CNIC) from buyers making purchase worth over Rs50,000 in a day and withdraw 17% sales tax imposed upon them through budget 2019-2020.
However, “If the regime does not concur to our terms, then protest is the only way forward”, he verbalized integrating that the traders would not file their tax returns until demands are met.
The traders also demanded that sales taxes should be collected from trades with annual revenue of over than Rs 20 million instead of Rs 5 million
Trades negotiations with Prime Minister Imran Khan and his economic team including adviser to PM on Finance Hafeez Shaikh and the FBR chairman – failed on Wednesday.
Trades negotiations with Prime Minister Imran Khan and his Economic Team failed on Wednesday. What do you think about the shutter-down striker? let us know in the comment section below