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Economy suffers as Qadri takes sit-in into Red Zone

Economy suffers as Qadri takes sit-in into Red Zone

ISLAMABAD: Imran Khan’s call for civil disobedience has sparked anger amongst the business community as economy has already suffered billions of rupees losses in a few days of political standoff. The Karachi Stock Exchange lost 222 points on Tuesday as panic and fear gripped the shareholders.

On another note, Tahirul Qadri’s call to his die-hard supporters to march towards Red Zone and hold sit-in before the Parliament House would also shaken the confidence of the foreign as well as local investors. The PTI and the PAT leaders’ locking of horns with ruling PML-N will not augur well for economy of the country as business activities have come to a standstill in the capital city. Other cities of Punjab, especially Lahore, Faisalabad, Multan and Sialkot have also been facing a similar situation for the last few days because of the road blockades by the Punjab government to stop followers of PTI and PAT from taking part into the Azadi and Inqilab marches.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked the business community to distance itself from Imran Khan’s “don’t pay taxes” call.

FPCCI president Zakaria Usman said that the current political situation and recent call for civil disobedience are not feasible moves as they amount to provoking people not to pay taxes and utility bills. He said the country is passing through critical economic and political conditions and political activities have hampered the process of economic and commercial development.

He further said business community is the real taxpayer and the government is bound to use this money in the right direction for development of the country.

Quetta Chamber of Commerce and Industry (QCCI) President Mohammad Asim Siddiqi said that the PTI has not unveiled any future plans as to how the country will run if nobody will pay taxes, duties and utility bills.

“Everybody has to pay taxes and duties to foster economic activities,” he said.

Rawalpindi Chamber of Commerce and Industry (RCCI) President Dr Shimail Daud Arain said he had contacted all chambers, including Karachi Chamber, who have unanimously rejected the PTI chief’s call.