Karachi traders are preparing for a nationwide strike on July 19th to protest against devastating economic policies. President of the Karachi Association of Trade and Industry (KATI), Junaid Naqvi, announced full support for the strike initiated by the Karachi Chamber of Commerce and Industry (KCCI).
Junaid Naqvi termed the planned action a necessary response to the detrimental effects of the new fiscal law on businesses. He criticized the government’s unilateral approach to policymaking, stating it has created a hostile environment for trade and industry. The KATI President warned that continued disregard would lead to further economic decline.
Stringent measures like restrictions on cash transactions, extended arrest powers, and mandatory digital billing have caused widespread concern among traders, small and medium-sized enterprises (SMEs), and industrialists. Junaid Naqvi said these policies reflect a lack of understanding by the authorities, which could push the national economy towards informal and undocumented activities.
He demanded the government review these contentious clauses in the fiscal law and engage in meaningful dialogue with the business community. Trade and industrial organizations across Pakistan, including KATI, are united in their support for this protest, emphasizing the importance of acknowledging business concerns. Junaid Naqvi described the upcoming strike not merely as a demonstration but as a crucial battle to safeguard national economic well-being.