KARACHI: Wholesale grocers have staged a strike against the withholding taxes introduced in the budget, resulting in the closure of various markets across the country. The protest, which began on July 31, is also impacting markets across Punjab, particularly in Faisalabad, as well as in Karachi, Hyderabad, and Sukkur in Sindh. In Khyber-Pakhtunkhwa, grocers have shut down markets in Peshawar, Mardan, and Kohat. Rauf Ibrahim, Chairman of the Wholesale Grocers Association, has announced that the strike will continue until August 2.
If the demands are not addressed, a new course of action will be revealed on August 6. Ibrahim warned that the protest will intensify until the withholding taxes are repealed. Previously, traders in Karachi announced plans to take to the streets in protest against rising electricity costs and unfavorable tax schemes. They stated that traders and the public are now at a critical juncture. Atiq Mir, chairman of the All Karachi Traders Union, expressed solidarity with the traders’ protests on July 30, describing the current economic conditions in the country as “dire and alarming.” He warned that the nation has reached its worst economic crisis in history.
Mir criticized the soaring inflation and economic ruin, stating that these issues have plunged the economy into deep trouble. He noted that investors are moving abroad, and the wealthy are taking control of the country. The chairman accused the government of mocking traders with the so-called “trader-friendly tax scheme,” whose unrealistic tax rates have led to its failure. He reported that 90% of businesses have collapsed, over 40% of employees have been laid off, and new job opportunities are non-existent. In just three years, industry and commerce have been decimated by 70%, he added.
Mir also noted that billions of rupees have been lost, and traders, industrialists, and investors are facing a historically severe situation. He maintained that the current rulers have failed and are powerless to address the nation’s problems. He called for an immediate review of the unrealistic budget, a reduction in government perks and extravagance, and the implementation of an economic emergency to prevent further devastation to Karachi’s trade and the country. Mir further criticized the government’s insensitivity, accusing them of being mere tools of the IMF, and warned that inflation has reached catastrophic levels.
