Karachi, August 27, 2024 – The SITE Association of Industry, a prominent representative body of industrialists in Karachi, has declared its support for the traders’ strike set for August 28, 2024.
The strike is a response to recent tax notices and escalating electricity bills that have sparked widespread discontent among the business community.
The announcement came on Tuesday, as SITE Association President Muhammad Kamran Arbi, along with Chief Coordinator Saleem Parekh, Senior Vice President Hanif Tawakkal, Vice President Farhan Ashrafi, and the entire Executive Committee, voiced their backing of the traders’ stance. The association emphasized solidarity with the trade community, recognizing their grievances as “legitimate and pressing.”
In a statement issued by the SITE Association, Arbi highlighted the collective frustration of the business community over the government’s recent fiscal policies. “As members of the business community ourselves, we are acutely aware of the difficulties faced by traders and industrialists. The tax notices and inflated electricity bills have become a significant burden, and it is imperative that the government takes immediate action to address these concerns,” he said.
The SITE Association’s support for the strike is rooted in several key demands:
• Elimination of Newly Imposed Taxes: Traders, shopkeepers, industrialists, and the general public are demanding the repeal of recently implemented taxes that have exacerbated financial pressures during a time of economic uncertainty.
• Reduction of Electricity Tariffs: High electricity costs are a major concern for businesses, affecting profitability and sustainability. The association is calling for an immediate reduction in tariffs to provide relief to both traders and industrialists.
• Renegotiation of IPP Contracts: To ensure the national interest is prioritized, there is a demand for renegotiating contracts with Independent Power Producers (IPPs) to achieve more favorable terms for the country.
• Relief for Karachi: Emphasizing the city’s vital contribution to the national economy, the SITE Association is urging the government to deliver prompt relief to Karachi, particularly in terms of energy security, infrastructure development, and improved law and order.
The SITE Association’s leadership stressed the importance of these demands, describing them as “completely rational and justified.” They further called on the government to recognize the urgency of the situation and engage in constructive dialogue with the business community to alleviate the mounting challenges they face.
The traders’ strike, which is expected to see widespread participation across the country, highlights the growing frustration among Pakistan’s business sectors. With Karachi being a key economic hub, the strike’s impact could be substantial, potentially leading to disruptions in trade and commerce.
As the government grapples with economic challenges and rising public dissatisfaction, the SITE Association’s backing of the strike adds significant weight to the traders’ cause. The coming days will be crucial in determining whether the government will heed these demands and take steps to address the concerns of its business community.
