The Karachi business community to Close markets on 28 august 2024 over tax dispute. This action is in response to recent ‘trader-friendly schemes’ and inflated electricity bills, according to representatives Atiq Mir, Rizwan Irfan, Sharjeel Goplani, and Mehmood Hamid.
During a press conference, the business leaders revealed that a consultative meeting led to the decision to halt tax and electricity bill payments. They emphasized that all business organizations are united in their opposition to the current schemes, high taxes, and rising electricity costs.
The business community plans to strike and protest, urging the government to address the financial damages. If their grievances are ignored, they may initiate a civil disobedience movement similar to recent protests in Bangladesh.
Community Member Rizwan Irfan stated that all Karachi markets, both large and small, will close on August 28, 2024. He criticized the imposition of Rs 60,000 in monthly forced taxes, arguing that taxation should be based on income alone.
Community Member Sharjeel Goplani warned that if the Federal Board of Revenue (FBR) continues to issue notices, businesses may withdraw their deposits from banks, risking insolvency. He highlighted that 467 Pakistani companies have already registered with the Dubai Chamber, with more relocating to Saudi Arabia and other countries.
