Traders in Karachi have announced plans to take to the streets in protest against rising electricity costs and unfavorable tax schemes. They stated that traders and the public are now at a critical juncture.
Atiq Mir, chairman of the All Karachi Traders Union, expressed solidarity with the traders’ protests on Tuesday, describing the current economic conditions in the country as “dire and alarming.” He warned that the nation has reached its worst economic crisis in history.
Mir criticised the soaring inflation and economic ruin, stating that these issues have plunged the economy into deep trouble. He noted that investors are moving abroad, and the wealthy are taking control of the country.
The current government, according to Mir, has set records for economic collapse in a very short time, making it necessary for traders to take their grievances to the streets rather than remain in their shops.
He highlighted the daily difficulties faced by both the public and traders, including unbearable electricity rates and the inability to make payments.
Mir pointed out that prolonged power outages of up to 15 hours in extreme heat have exacerbated economic hardships, causing businesses in Karachi to come to a halt. He criticised the oppressive and unfair tax system, which he believes has further trapped the economy.
The chairman accused the government of mocking traders with the so-called “trader-friendly tax scheme,” whose unrealistic tax rates have led to its failure.
He reported that 90% of businesses have collapsed, over 40% of employees have been laid off, and new job opportunities are non-existent. In just three years, industry and commerce have been decimated by 70%, he added.
Mir also noted that billions of rupees have been lost, and traders, industrialists, and investors are facing a historically severe situation. He maintained that the current rulers have failed and are powerless to address the nation’s problems.
He called for an immediate review of the unrealistic budget, a reduction in government perks and extravagance, and the implementation of an economic emergency to prevent further devastation to Karachi’s trade and the country.
Mir further criticised the government’s insensitivity, accusing them of being mere tools of the IMF, and warned that inflation has reached catastrophic levels. He warned that anarchy, chaos, and rebellion are on the horizon.
The chairman urged both the public and traders to unite against the government’s relentless economic attacks, stating that further delays could lead to even more dire consequences.
He emphasised that it is time for the 240 million people of Pakistan to demonstrate that they are not lifeless but a vibrant nation ready to fight for their rights.
Mir concluded by calling for a national movement to save the country, asserting that the nation’s economy is at a point of no return and that patriotic citizens and traders must now lead a campaign to save the nation.
