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Karachi traders threaten to observe shutter-down against withholding tax on transactions

Karachi traders threaten to observe shutter-down against withholding tax on transactions

KARACHI: The traders of the city have warned the federal government of holding a shutter down strike against the imposition of 0.6 percent withholding tax on all banking transactions for non-filers if the levy is not immediately withdrawn.

In this regard, a large number of traders of Karachi Tajir Ittehad, Small Traders Association, Karachi Wholesale Grocers Association, Alliance of Arambagh Market Association, Dandia Bazar, Tariq Road Traders Welfare Association etc staged a protest demonstration against the imposition of tax outside the Karachi Press Club on Tuesday.

The protesters, led by president Karachi Tajir Ittehad, Atiq Mir, carried banners and placards inscribed with slogans against the government and the new levy. The protesters also carried an effigy of Federal Finance Minister Ishaq Dar and chanted slogans against the tax.

While speaking on the occasion, Atiq Mir said that the traders always wait for the holy month of Ramadan for the business, however, the present government had imposed 0.6 withholding tax on bank transaction which is sheer injustice with the traders.

“The government is following the dictation of the foreign donors agencies causing serious difficulties for the local traders affecting business activities”, he added.

Atiq Mir said that the government should abstain from imposing the withholding tax and work towards providing relief to the industry and ultimately to the common man. “It seems there is no economic policy in the country, nor there is any economist who could bring in the justified tax system”, he opined.

The traders have demanded the federal government to immediately withdraw the tax otherwise the traders would announce indefinite shutter down strike against the new levy.