Traders ob­serve strike in ma­jor cities

The Pak Banker - - NATIONAL -

Traders in ma­jor cities of the coun­try in­clud­ing Karachi, La­hore, Quetta and Mul­tan ob­served strike in protest against im­po­si­tion of 0.3% with­hold­ing tax on bank­ing trans­ac­tions.

Goods trans­port and stock­ist unions also joined traders in their protest. In Karachi, ma­jor mar­kets in­clud­ing Jo­ria Bazaar, Boul­ton Mar­ket, Tim­ber Mar­ket and other trade cen­ters re­mained closed.

At­tiq Mir, the Pres­i­dent of All Karachi Traders Union, stated that the gov­ern­ment should with­draw with­hold­ing tax and hold talks with traders to ad­dress their con­cerns. He said some clauses in the tax sys­tem are con­flict­ing. In La­hore, mostly mar­kets re­mained closed. In Mul­tan, all ma­jor mar­kets in­clud­ing Cloth Mar­ket Board, Sarafa Bazaar, Daal Bazar, Rail Bazaar, Machli Mandi Bazaar, Khand Bazaar, Urdu Bazaar, Scrape Me­tal Bazaar, Gond­lan­wala Road, Thakur Singh Gate, Elec­tron­ics Mar­ket and other trade cen­ters re­mained closed.

Pres­i­dent of Gu­jran­wala Cham­ber of Com­merce Khawaja Khalid Has­san re­marked that he stands with traders in protest.

Pres­i­dent of Goods Trans­port As­so­ci­a­tion Wasi­fur Rehman Butt has an­nounced that all goods trans­port sta­tions will re­main closed in protest against with­hold­ing tax.

Re­cently, the fed­eral gov­ern­ment im­posed 0.6% with­hold­ing tax on all bank­ing trans­ac­tions worth Rs50,000 and above, in the fed­eral bud­get. Af­ter ne­go­ti­a­tions the gov­ern­ment re­duced the rate to 0.3% but traders are de­mand­ing com­plete with­drawal of the de­ci­sion.

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