PESHAWAR: Like other parts of the country, the traders and business community in Khyber Pakhtunkhwa observed complete shutter-down strike on Saturday against the imposition of withholding tax on bank transactions worth Rs 50,000 and above.
With all backing out from different trade organizations and transporters, traders on the call of Tajir Itihad Pakistan (TIP) kept their businesses shut in provincial metropolis Peshawar and in other districts of the province.
Central Union of the Anjuman-e-Tajiran Rabita Committee supported the strike and announced to keep all commercial activities and business centers closed in the provincial metropolitan city. The trade unions leaders include Central Trade Union Cantt President Mujeebur Rahman, Tajir Tanzim KP president Sharafat Ali Mubarak, general secretary Waris Afridi and Shaukat Ali led protest camps in various bazars of the city.
The protesting community put in place banners and placards inscribed with slogans against the withholding tax, in different markets of the city.
Mujeebur Rahman, president of Markazi Tanzeem Tajiran said all the traders associations are united against the withholding tax and they have decided to keep all business activities shut by keeping close commercial centers.
He said that all markets of the entire city including mobile markets, electronics market, Shafi cloth market (Old Bara market), shopping mall and electronics plazas on main University road and historic Qissa Khwani bazzar, Sarafa bazzar, Rampura gate in old city area and markets on main GT road remained deserted, as all the traders were 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 abolition of this new tax altogether.
While taking to Customs Today, President Anjuman-e-Tajiran KP Sharafat Ali Mubarak rejected the 0.3 percent withholding tax on banking transactions, announcing, “We will keep continue our shut down on the call of Tajir Ittihad Pakistan.” He termed the newly introduced tax as economic killing of the militancy hit traders of Khyber Pakhtunkhwa.
The traders said that their businesses were already destroyed due to terrorists’ acts, whereas the remaining role was played by excessive and unscheduled power load shedding. The protesting traders were of the view that withholding tax instigated by IMF has not imposed only on traders rather it is injustice with the entire nation.
They rejected any kind of tax on withdrawing cash from their banking accounts. They also warned not to compromise to go on hunger strike ‘if the government was failed to revise its decision of imposing unjust tax.
It should be noted here that the withholding tax was announced in the fiscal budget 2015-16 on banking transactions for the non-filers of income tax. After hectic negotiations with some traders, Federal Minister for Finance Ishaq Dar had said that the reduction in tax rate will remain applicable till 30th September this year.
