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Multan traders observe shutter down strike against withholding tax‏

Multan traders observe shutter down strike against withholding tax‏

MULTAN: Multan Traders Association observed strike against imposition of 0.6 percent withholding tax on banking transactions of Rs 50,000 for non-filers in the budget 2015-16.

The All Pakistan Anjuman-e-Tajiran have staged protest against unfriendly business measures of the present government, observing shutter down strike separately in different and major business hubs of Multan.

All Pakistan Anjuman-e-Tajiran chairman Khawaja Shafiq, president Ajmal Baloch, central general secretary Naeem Mir and APAT district and divisional representatives of the provinces took decision of strike with the coordination of other traders association. Traders Association of the Multan City were on the same page against decision of imposition of 0.6% withholding taxes on the banking transactions for non-filers.

Anjuman-e-Tajran President Khalid Pervez and central leader Abdul Razaq called for a complete shutdown of shops throughout the Punjab to protest the implementation of 0.6-percent withholding tax on cash withdrawal by non-filers of income tax returns.

Khalid Pervez warned that the government must drop the decision and in case of failure traders will launch huge campaign against the government after Eidul Fitr by staging protest in the every city and market of Pakistan.

Ghala Mandi Supreme Council has also observed complete strike in Ghala Mandi with the consensus of their executive members and supreme council. More than 1000 small and big traders have observed shutter down in market. Approximately trading volume of Rs 600 million is witnessed every day in Ghala Mandi markets.

Brokers Association, Rice Association, Sugar Association, Daal Association, Bardana Association have observed the complete strike in the various markets to show   solidarity with the business community against the withholding tax of 0.6% from the bank transactions of over Rs.50,000 for non-filers.

It was interesting to mention that Pakistan Muslim League (N) traders wing have rejected the shutter down call of the Traders and they have opened their business in the Ghala Mandi but there was no buyer in the market which continue trade activity. Maqsood Iqbal Traders Association wings Pakistan Muslim League (N) have opened the business to discourage the shutter down call but he failed to attract other traders.

Banking Transaction were halted in the Multan City due to complete shutter down strike of traders and  banks have also done rare transactions due to suspension of commercial activities and only domestic users were dealing with the banks.

One of the well-known traders Usman Malik told Customs Today that we reject this harsh withholding tax and it will simply a message for us to avoid any banking transaction and this withholding tax could not be justified at any condition.

He told that government revenue would decrease and economy would suffer. Various trade bodies of Multan including Brokers Association, Rice Association, Sugar Association, Daal Association, Bardana Association Ghala Mandi Association leaders urged the government to immediately withdraw 0.6 percent withholding tax on banking transactions and help restore normal business activity in the country for growth and progress of economy.