Traders’ announce strike on Aug 5

KARACHI: The trader’s association has announced a strike tomorrow to protest the 0.3 percent withholding tax that the government has imposed on all banking transaction of over Rs50,000, Aaj News reported.

Businessmen will not go to work, and shopkeepers will keep their shops closed. The protest will cause a loss of a hundred billion rupees.

Leaders of traders’ association said that if the government takes back orders of the with holding tax they were ready to peacefully resolve the issue. Otherwise they were not interested in talking.

Meanwhile the government maintains that the traders’ association is over acting. In a statement released earlier, Finance Minister Ishaq Dar said that there was no need for strikes.