Traders observes shutter-down against withholding tax

KARACHI: Traders are observing countrywide shutter-down strike against withholding tax on bank transactions today (Saturday).


Despite differences among different trader organizations over date of strike, the traders in major cities across the country have closed their shops and markets to protest against the withholding tax.

A faction of Anjuman-e-Tajiran based in Karachi supported today’s strike and announced to keep all commercial activities and business centers closed today in the megacity.

Traders Association said all markets of the entire city including Saddar mobile market, electronics market, Jama Cloth and Old City area will remain locked today, as all the traders are united against the tax on withdrawal of cash worth Rs.50,000 and above from the banks.

It should be mentioned here that the government whittled down the withholding tax from 0.6 percent to 0.3 rate. But, the traders demanded the termination of this tax altogether.

All Karachi Tajir Ittehad (AKTI) blackballed today’s protest. Voicing reservations against Anjuman-e-Tajiran that gave call for today’s shutter-down.