Protest against raise in sales tax rate: steel traders to go on strike from June 22

Over 1500 steel traders across the country have unanimously decided to go on strike from Friday against 5 percent sales tax enhancement on steel products in the recently announced Following the raise in sales tax rate by 5 percent, prices of different steel products have gone up by Rs 5000 per ton in the local market.
So far, two phases of negotiations between the steel dealers and government officials have taken place, as the former want the government to withdraw the sales tax raise. However neither of the meetings could succeeded to reach any specific conclusion.
Last meeting of steel traders and stakeholder was held on Tuesday with Jahanger Tareen, Minister for Industries, in Islamabad. The Minister during the meeting refused to reduce the sales tax, asking the stakeholder to co-ordinate with Engineering Development Board to stabilise the prices of steel products.
On Wednesday, a meeting of steel dealers was held at Karachi on rising steel price issue. The meeting was attended by members of Pakistan Iron and Steel Merchants Association (PISMA) and Karachi Iron and Steel Merchants Association (KISMA) and, after deliberations and exchange of views with steel dealers of other provinces, it was unanimously decided to go on strike from Friday, June 21 across the country to press their demands.
"On Friday, over 100 steel markets across the country will remain completely closed in protest against the increase in sales tax besides rationalisation of customs duty on steel imports," said Saed Shafiq, vice president KISMA.
He said that steel stakeholders were in contact with government officials for reduction in steel prices but despite several meetings there as no positive result, compelling the steel traders to observe strike on the issue.
"We have contacted with steel dealers and representatives of steel sector across the country and the response from them has come out positively to go on strike on Friday," he added.
Anjub Butt from Lahore, Shamshad Butt, president trunk market, Arshad Iqbal, chairman, can manufactures, and other representatives of iron and steel dealers had assured of complete assistance in this regard, he added.
He said that on the strike day across the country over 1500 including Pakistan steel dealers would shut down their shops as a protest. "If the government did not fulfil our demands then protest will continue," he said, adding that in the second phase the steel dealers would go on strike for indefinite period all over the country.
All stakeholders have agreed on one-point agenda, demanding of the government to reduce sales tax to its previous slab of 15 percent and rationalise the import duty, he said. Adding that "strike will be announced in a press conference on Thursday at Karachi Press Club."