Traders across Pakistan estimated a trade loss of Rs500 billion due to a nationwide strike against high power bills and increasing tax burden. The strike overshadowed any claims of victory and affected industrial activities in various cities, including Karachi.
The disruption of transactions between businesses factions, in combination with incessant rains and transportation disruptions, forced many workers to stay at home. Despite industrial bodies supporting the strike, they did not have to close their units.
Industrialists urged the government to revise contracts with independent power producers to alleviate the burden on businesses. Although the strike had minimal impact on some industries, it caused inconvenience for lower-income shoppers and risks spoilage of perishable goods for traders.
The closure of industries in Karachi affected local supply chains and forced daily wage workers to bear the brunt. Industrialists warned about challenges such as discriminatory taxes, high electricity prices, and water scarcity, which may lead to closures or relocation to other provinces.
In conclusion, the strike served as a test of the government’s resolve to broaden the tax base, with industrialists emphasizing the need for fair policies to ensure sustainability and growth.
Published in Dawn, August 29th, 2024
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