Johar Qandhari, President of the Korangi Association of Trade and Industry (KATI), has congratulated the business community, industrial zones, the Chamber of Commerce and Federation for successfully executing a historic and peaceful nationwide strike from Karachi to Khyber. Qandhari noted this was an unprecedented event, as a strike of such magnitude had never been conducted peacefully and effectively across the country.
Qandhari emphasized that the strike sent a clear and unified message to the government: the business community is committed to its demands. The strike resulted in the complete closure of commercial centres nationwide, a significant reduction in industrial production by 30 to 35%, and a bearish trend in the stock market, with share prices dropping by 57%. According to Qandhari, these outcomes underscored the seriousness of the business community’s demands.
The KATI President urged the government to immediately address the grievances of the business community by abolishing oppressive taxes, curbing inflation, and reducing the skyrocketing electricity tariffs and additional surcharges, including the Power Holding Limited (PHL) charges imposed on Karachi’s consumers. He also called for eliminating the Tajir Dost scheme and super tax and restoring business-friendly initiatives.
Qandhari highlighted the paradox of rising inflation and escalating production costs, hampering businesses and making it increasingly difficult for the business community to bear the additional tax burdens. He reminded the government that the business community played a pivotal role in stabilizing the country despite facing numerous challenges in previous economic crises. However, he expressed disappointment that the government is exacerbating the situation by imposing further burdens instead of alleviating their struggles.
President Qandhari called on the government to swiftly accept the demands of the business community. He stressed the importance of creating an environment conducive to business growth, leading to increased trade, industrial production, and job creation. He assured that if such an environment is fostered, the business community would willingly contribute to the economy by paying their fair share of taxes.
