The business community of Karachi has taken a strong stance against the escalating prices of petroleum products and electricity by announcing their decision not to pay electricity bills in protest.
Representatives from various business organizations in Karachi convened a joint meeting to discuss the pressing issues of rising inflation and increased costs of petroleum products and electricity.
Mohammad Rizwan, the Convener of the Traders Associations Action Committee, voiced the grievances of the business community during the meeting. He emphasized that the anti-people policies and pervasive inflation have left traders with no choice but to voice their dissent through protests. To this end, the second protest organized by Karachi traders is scheduled for Wednesday, August 23, at Regal Chowk.
Rizwan conveyed that the traders find themselves caught in the quagmire of inflation, a predicament that mirrors the struggles faced by the general public. The soaring inflation rates have left traders unable to manage the financial burden of procuring goods, prompting them to utilize their hard-earned savings.
Highlighting the severity of the situation, Rizwan further noted that many traders are teetering on the brink of insolvency, with some even forced to shutter their businesses. To make their point, traders from the Timber Market have decided to withhold payment of their electricity bills on August 23. This protest is intended to amplify the business community’s message, and it’s anticipated that other markets in Karachi will follow suit in refusing to pay their electricity bills.
Rizwan also addressed the need for reform within the caretaker government’s protocol system. He urged an end to the extravagant protocol system, which incurs heavy expenses that are borne by the taxpayers. Given the prevailing economic circumstances, Rizwan stressed that the businessmen’s earnings are increasingly diminished, with only 25% of their income available for sustenance due to the impact of dwindling purchasing power.
The collective action taken by the Karachi business community underscores the severity of the economic challenges faced by traders and the broader public alike. The protest highlights the urgent need for the government’s attention to address the rising inflation and provide relief to the business sector, thereby ensuring stability and economic progress.
