WHT on banking transactions: traders observe countrywide strike

Traders on Wednesday observed complete shutter down strike across the country against the 0.6 percent withholding tax on all banking transactions to be implemented from September 30, while the current rate is 0.3 percent. All Pakistan Tajir Ettehad (APTE) had announced to hold a series of protest demonstrations including shutter-down strikes against the withholding tax, which was also backed by others organizations including All Pakistan Anjuman-e-Tajran, Markazi Anjuman-e-Tajran, and All Karachi Tajir Ittehad (AKTI). This was third shutter-down strike against the imposition of the tax on banking transaction by the traders.
In twin cities, traders of major markets observed complete shutter-down strike. Banners inscribed with slogans against the WHT were seen in different markets of the twin cities. However, food outlets, restaurants, medical stores and general stores remained open.
Talking to Business Recorder, President All Pakistan Tajar Ettehad Chaudhry Kashif said that traders across the country observed shutter down strike against the WHT on banking transactions. "Traders from Karachi to Khyber are united against the tax, which is evident from today's successful shutter-down strike," he commented. He warned that if the government failed to review its decision on WHT, traders would go on shutter down strike from October 7 for indefinite period. He said that the traders associations had decided not to pay any tax after October 7 as a protest against the WHT.
Most markets in Rawalpindi including Raja Bazaar, Ghalamandi, Saraf Bazaar, Iqbal Road market, Mochi Bazaar, and other commercial markets remained close. In the federal capital, major markets like Blue Area, Karachi Company, Aabpara, Supper Market, Jinnah Market and others markets remained closed except Kohsar Market. Only medical stores and food outlets remained open in different parts of the city.
President Anjuman-e-Tajran Ajmal Baloch while talking to Business Recorder said that complete shutter down strike was observed even at district and tehsil level across the country. He said that the government had no option other than to withdraw the WHT. In the finiancial capital of the country, Karachi, trade and business activities remained suspended across the city due to the traders' strike.
The third strike widely brought retail and wholesale trading to a standstill, as main business centers wore deserted look during the day. Traders showed a rare unity to padlock their businesses across the metropolis. All businesses centers on M.A. Jinnah Road including Jaama Cloth, Urdu Bazaar, Denso Hall Market, Tyres Market, Lighthouse Market, Cycle Market, Bolton and Mothan Das, Methadar and other old city areas remained shut. Besides, markets in Regal, Saddar, Arambagh, Haideri, Tariq Road, Clifton, Liaquatabad, Korangi, Landhi, Quaidabad, Khokhrapar, Shah Faisal Colony, Gulbahar, Golimar, Paposh Nagar, Defense and other parts also remained closed.
The strike also suspended the supplies of grain from Jodia Bazaar to other parts of the city, besides halting transportation of medicines and other key commodities. "Today's strike is a major success against the WHT on banking transaction," Chairman All Karachi Tajir Ittehad Atiq Mir said and congratulated the traders for their support to make the strike successful. "The strike proves traders are united on the WHT issue," he added.
He claimed that the city's all major markets remained closed to protest the tax. Traders, he said, suffered at least Rs 50 billion losses across the country during the three strikes in two months. He held the government responsible for the financial loss, which the traders suffered during the three strikes.
In Lahore, traders observed complete shutter-down strike to press the government to withdraw the 0.6 percent withholding tax on bank transactions. A visit to different city areas revealed that all major markets including Akbari Mandi, Circular Market, Shah Alam Market, Rang Mahal, Urdu Bazaar, Hall Road, Mall Road, Jail Road, Liberty, Hafeez Centre , Currency Market, Defence, Icchra Bazaar, Karim Block, Loha Market, Shahdra, Township and Mcleod Road were closed.
All Pakistan Anjuman-i-Tajiran President Khalid Pervez said that some so-called pro-government leaders were trying to create differences among the traders, saying that traders will never start dialogue with the government unless it drops the tax and stops anti-business steps. Progressive Group Deputy Secretary Muhammad Ejaz Tanveer congratulating the traders on showing exemplary unity on Wednesday claimed that the business community had succeeded in sending a strong message to the government.