Traders observing countrywide strike against WHT on bank transactions

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LAHORE: The business community is observing a nationwide wheel-jam, shutter-down strike today (Saturday) against the imposition of 0.3 percent withholding tax (WHT) on banking transactions by the Federal Board of Revenue (FBR).

This is for the first time in the history of Pakistan that traders, goods transporters, custom clearing agents and traders bodies across the country have got united to observe the strike against the imposition of the WHT by the government.

In the past, traders had observed a countrywide successful shutter-down during the Pakistan Muslim League-Nawaz (PML-N) government when it had introduced the General Sales Tax (GST) for the first time in the late 1990s. This time again, the PML-N-led government’s announcement has united the business community, traders and all trade bodies on a single-point agenda of withdrawal of imposition of 0.3pc WHT.

A group of Punjab-based traders had observed a strike in Ramazan when it successfully closed down wholesale markets of the province against the imposition of the WHT. Their successful strike compelled the government to revisit its decision.

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