In a strong display of unity, the Karachi Chamber of Commerce and Industry (KCCI) has thrown its weight behind the nationwide shutterdown strike planned by traders on August 28. The strike, which has garnered widespread support across various business communities, is being organized in response to growing economic grievances and recent actions by the Federal Board of Revenue (FBR).
A United Front
The decision to support the strike was solidified after a significant meeting between Rizwan Irfan, Chairman of the Karachi Electronics Dealers Association, and Zubair Motiwala, head of the influential Businessmen Group (BMG). During the discussion, Irfan highlighted the challenges faced by small traders, which include the introduction of the Trader Friendly Scheme and recent FBR notices. These issues, he argued, have placed undue pressure on traders, making it difficult for them to operate in the current economic climate.
Motiwala, echoing these concerns, assured Irfan that the Karachi Chamber stands in solidarity with the traders. He emphasized that the KCCI recognizes the validity of the traders’ grievances and is committed to supporting their cause. "The concerns of small traders are our concerns as well,” Motiwala stated. "We believe that the current economic policies need to be revisited to provide relief to the business community.”
The Core Issues
At the heart of the traders’ discontent is the Trader Friendly Scheme, which has been criticized for being anything but trader-friendly. The scheme, coupled with recent FBR notices, has been viewed as overly burdensome, particularly for small and medium-sized enterprises (SMEs). Traders argue that the scheme, in its current form, could lead to further financial strain on businesses already struggling in a challenging economic environment
