Pakistan

Traders observing countrywide strike against Withholding Tax

KARACHI: Traders observing shutter down across Pakistan on Wednesday (today) to protest against imposition of 0.3 percent withholding tax on bank transactions, ARY News reported.

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The associations of traders have announced to hold protest demonstration across the country today.

Three mainstream political parties including Pakistan Tehreek-i-Insaf (PTI), Muttahida Qaumi Movement (MQM) and Jamat Islaim (JI) have supported the protest call of the traders association, while the government has refused to accept the demands of traders.

Earlier, the government had imposed a 0.6 percent withholding tax on all kinds of transactions above Rs 50,000, however, after protests against the decision, tax was slashed to 0.3 percent.

Traders have closed their shops and other businesses in Islamabad, Peshawar, Quetta, Gujranwala, Sukkur, Mirpur Khas, Sialkot, Lahore, Rawalpindi and Faisalabad.

In Mirpur Khas all business centres, petrol pumps and CNG stations have been closed. Protesting traders have also installed a protest camp at Market Chowk of the city against the withholding tax.

Almost all markets in Sukkur including Sarafa Bazaar, Shahi Bazaar, Mirch Bazaar, Nishtar Road, cloth market, Shikarpur Road, Racecourse Road, Dhak Road and others are closed down.

The traders in Abbottabad on the call of All Traders Association and Cantt Bazaar Association observing shutterdown in all major markets of the city.

All markets in Nawabshah including Cloth Market, Sarafa Market, Liaquat Market, Mohini Bazaar, Kachehri Road, Market Road and Mano Abad have been closed causing hardships for general public.

The sources at Federal Bureau of Revenue said that no suggestion under consideration about withdrawal of the withholding tax on bank transactions.

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