TRADERS STRIKE VS REALITY.

 TRADERS' STRIKE: A REALITY CHECK.

The other day, trade bodies in Pakistan observed a nation-wide business shut out,well supported by Importers, Exporter, Large Scale Manufacturers(LSM), small scale Manufacturers and some political parties spearheaded by Engineer Naeemur Rehman, Ameer e Jamate Islami Pakistan against the spike in inflation, unbearable costs of electricity/gas bills,application of new new taxes especially on Retailers, Real-estate and other untaxed business areas, effective from 01/07/24 post detailed deliberations and consultations with IMF & other International lenders yet, sans of relevant domestic business quarters even the few federal ministries as well.

Peaceful strike calls and protests fall in the domain of human rights in every civilised and democratic model.

Before moving forward in this discussion, there is an urgent need to mention of some irresistible yet irrefutable facts that will help us to reach at and determine just and more acceptable narratives of business communities in Pakistan.

•Tax contribution of our retailers & realestate sectors is almost to NIL or negligible before introduction of Tajir Dost Tax scheme.

•Importers/Exporters of Pakistan contributed Rs=82B during FY23-24 in contrast, the salaried class contributed Rs=362Billions towards national kitty.

•PM Shahbaz Sharif has recently ordered an immediate probe into a scam of RS=1.20Trillion customs duty at Port Qasim Karachi, where the main beneficiaries are allegedly our esteemed small and elite business tycoons.

•Finance Minister of Pakistan, Mr Aurangzaib Awan months ago disclosed of Rs=6000B in the senate of Pakistan being the financial terrorism towards Income tax/sales tax evasion, Customs duties, tax holidays and smuggling etc.

•Pakistanis are the 2nd big buyers of properties worth $12Billions in DUBAI during 2023 as per Dubai Leaks: 70% thereof being our elite businessmen and industrial tycoons. A case of money laundering.

•Details of hoarding and other ethical business crimes require a separate list.

•Merely the Real estate sector in Pakistan encompasses around $100Billion yet paying NO TAX.

Government of Pakistan must take strict and corrective steps to modernise and digitise FBR to improve tax collections and introduce harsh punishments for tax evaders in business and government functionaries alike.

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