Mohsin Siddiqui (Chief Reporter)
The Central Organisation of Traders (COT) and All Pakistan Anjuman-e-Tajiran (APAT) have declared a nationwide shutter-down strike for August 28, 2024.
This strike is in direct opposition to the government’s recent introduction of a “trader-friendly scheme” and a slew of tax policies that have left the trading community feeling marginalized and burdened.
During a joint press conference, Kashif Chaudhry and Ajmal Baloch, prominent figures in the trading community, vehemently rejected the so-called “trader-friendly scheme.” They described it as not only impractical but also detrimental to the everyday operations of traders across Pakistan. Their primary contention lies with the imposition of withholding taxes on essential commodities like pulses and flour, which they argue, unfairly targets the common consumer and trader alike.
They call for the immediate withdrawal of the Federal Board of Revenue’s (FBR) SROs G-236 and H-236, which they believe exacerbate the tax burden on traders A significant demand includes ending free utilities and fuel allowances for top government officials, suggesting they should opt for more economical vehicles like the Suzuki Cultus to set an example of frugality. The traders are pushing for the removal of general sales tax on essential items ranging from food to medicine, and a rollback on heavy taxes affecting the export sector. They advocate for an increase in the income tax exemption threshold to match inflation rates, alongside the reversal of recent hikes in income tax slabs for private employees and traders.
Reviewing contracts with Independent Power Producers (IPPs) to reduce electricity costs. Gas and Electricity Pricing: Elimination of oppressive slabs and recent price increases in gas and electricity. Withdrawal of new taxes affecting these industries, aiming to restore the gain period and limit the powers of FBR officers. This strike isn’t just about immediate grievances; it’s a call for a fundamental shift towards an interest-free economic system, which traders believe would foster stability and fairness. The implications of such a strike could ripple through Pakistan’s economy, potentially affecting supply chains, consumer prices, and political stability.
