ISLAMABAD: The business community on Tuesday agreed to defer the nationwide strike, as a committee to be headed by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan would present a workable solution in 30 days to the prime minister and the Cabinet to address their concerns.
This was confirmed by Haroon Akhtar Khan as well as Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) while talking to Business Recorder, after a meeting called by Federal Minister for Finance Muhammad Aurangzeb of all business chambers and associations for negotiations on their strike.
However, Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Javed Balwani told Business Recorder that a final decision regarding holding or deferring the strike would be announced on Wednesday (today).
Govt to meet business community tomorrow, ahead of planned strike, says Aurangzeb
Balwani said that the government side stated that these conditions are from the International Monetary Fund (IMF). “The government linked, all measures we expressed are reservations about, to IMF conditions”, he said, adding this leaves us little room to feel hopeful about fulfillment of our demands.
The business community were divided over a shutter down strike on coming Saturday (July 19, 2025) against the extraordinary powers of the FBR in the Finance Act 2025 in the aftermath of holding extensive parleys with the four cabinet ministers. The government announced the establishment of a committee to resolve issues within 30 days at the Finance Ministry.
“We will only call off the strike call if the government defers implementation of the Finance Act 2025, including arrest powers under 37A, payment of Rs 200,000 through cash, e-bility, and others in writing,” the Presidents of Lahore and Karachi Chambers announced outside the Q Block (Finance Ministry) building at Pak Secretariat here on Tuesday.
However, the FPCCI President Atif Ikram Sheikh along with his team came downstairs of the Q Block after holding three hours parleys with the Finance Minister and his team and announced that the committee was established to resolve all outstanding issues so there would be no strike on July 19.
During his media talk, the President of Lahore Chamber of Commerce and Industries stated that they would observe strike on July 19 and many other chambers would also observe this strike. They were of the view that till deferment of different clauses of Finance Act 2025 they would not withdraw their announced strike call. “We will go for strike” said the President of Lahore Chambers of Commerce and Industry (LCCI) outside the Q Block.
The government has already enacted Finance Act 2025 after seeking assent of the Parliament and then President of Pakistan and under the IMF program the reversal of steps seems difficult, said the FBR sources.
According to Ministry of Finance statement, a high-level meeting was held in Islamabad under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb with representatives of Pakistan’s business community, chambers of commerce, and traders’ associations to discuss concerns related to Section 37A and other provisions introduced under the Finance Act 2025.
During the meeting, Minister for Finance assured the business community of the government’s full cooperation and transparency, emphasizing that the objective is solely to prevent large-scale tax fraud and there was no intention to harass legitimate and honest businesses.
It was decided in the meeting that a committee would be formed under the Chairmanship of Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production. The committee will also include Minister of State for Finance Bilal Azhar Kayani, PM’s Coordinator on Trade Rana Ehsan Afzal Khan, FBR Chairman Rashid Mehmood Langrial, and representatives nominated by the business community and chambers of commerce.
The committee will hold detailed deliberations over the next 30 days and present a consensus-based and workable solution to the Prime Minister and the federal cabinet. The business community openly shared their concerns and suggestions during the meeting, and the government expressed its commitment to take all stakeholders into confidence. It was agreed that every effort would be made to address traders’ concerns related to transactions and to avoid causing any difficulties for the business community.
Copyright Business Recorder, 2025
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