Pakistan's Business Community Divided Over Nationwide Shutter-Down Strike

In a climate of rising tension, Pakistan's business community is grappling with division over a proposed nationwide shutter-down strike. Key trading hubs in Karachi and Lahore have announced their closure, protesting against the expanded powers of the Federal Board of Revenue and fresh taxation policies. However, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has chosen not to partake, highlighting fractures within the sector.

Karachi Chamber of Commerce and Industry (KCCI) President Javed Balwani declared in a press conference that all business enterprises in Karachi will remain shut on Saturday. Balwani suggested the strike might extend further if their demands remain unfulfilled, potentially even resulting in a week-long shutdown. He emphasized that the strike will be peaceful unless the government fails to offer written guarantees addressing their grievances.

Adding to the chorus of discontent, both the Lahore Chamber of Commerce and Industry and the All Pakistan Restaurants Association have vowed their support for the strike. They cited concerns over Sections 37A, 37B, and 21(S) of the Finance Act, which they criticize for granting excessive powers to the FBR and imposing harsh penalties and regulations. Meanwhile, the FPCCI's decision to abstain underlines the absence of consensus, leaving the future of the strike uncertain as the community anticipates the result of further talks. (ANI)

(With inputs from agencies.)