Tajir Ittehad warns to stop transaction through banks

September 8, 2015 Off By Web Desk

KARACHI: Chairman All Karachi Tajir Ittehad (AKTI) Muhammad Atiq Mir on Wednesday said transaction through banks would be ceased, if the government did not comply with the demand of withdrawal of 0.3 percent withholding tax on transaction through banks.

Traders on Wednesday shuttered their businesses to observe country-wide strike against imposition of government’s 0.3 percent withholding tax. Chairman All Karachi Tajir Ittehad (AKTI) Muhammad Atiq Mir said 80 percent of the markets in the city were closed and the other strike would be observed on 7th October if the demand to withdraw tax was not met.

“The withholding tax will not be accepted in any case. We want this conflict to resolve soon because it is badly affecting the economy. The dispute with the government will end with withdrawal of the tax,” said Mir who is also senior vice president of All Pakistan Anjuman-e-Tajran (APAT) of Kh Muhammad Shafiq.

He told that over 800 small and big markets existed in the city and more than 600 out of them were closed.

He said the traders would not continue the strike even if the demands were not met, however other means would be adopted to generate pressure on the government like from time to time strikes, transaction through banks would be ceased and businesses would have a parallel system against bank and that would be cash payments. Apart from this, the traders would no longer be a favouring-party for the government and would not remain in any taxation system of the government. The government should not put burden on traders to make International Monetary Fund (IMF) happy, he added.

The chairman AKTI said the introduction of reform tax system by the government would not be effective without approval of traders.

Abdul Lateef, who is in clothing business for 40 years in Jamia Cloth Market, while sitting on wheel cart outside closed market said he had no hope from the government.

He confessed not paying government taxes, however expressed willingness to get registered his National Tax Number from now to pay taxes given that the government withdraws withholding tax.

“We as citizens also do corruptions through different modes and means,” he said.