Trade leader Malik Sohail on Friday said traders will observe protests as well as indefinite strike if decision to hike petroleum prices and electricity tariff was not taken back immediately. He appealed to the Apex court to save masses from the clutches of IMF and to make traders of Islamabad party in the case seeking reversal of POL price increase notification as government has become insensitive to the problems of masses.
"We reject the gift of the government on the onset of new fiscal that includes an average of 10 percent hike in petroleum prices, plans to hike power tariff and negligible reduction in gas tariff," he said. At one hand, the rulers say that they cannot move an inch without the instruction of IMF while on the other developmental funds of MNAs and the benefits of parliamentarians have been multiplied.
Tax-to-GDP ration in country is 9 percent in which rich are paying only 3 percent while poor have become a victim by paying remaining 6 percent, said Malik Sohail Hussain, VP NTA, President Traders Welfare Association (TWA) Blue Area, and former SVP, Islamabad Chamber of Commerce and Industry.
Government is bleeding poor white by slapping additional indirect taxes while it is supporting influential lobbies of agriculturists, stockbrokers, realty dealers, services, professionals and bankers. Trade activity in markets is down by 70 percent that may end due to incoherent policies. These policies have nothing to do with ground realities. Traders reject cut in interest rate offered by national saving schemes that aims to benefit crooked bankers, he said. Accountholders being looted while banks are protected, promoted and encouraged to milk masses.
He said that majority of ministers appointed to please nobility who are not serving masses but themselves. Many are seen by masses as incompetent. Amin Pirzada, Ehsan Bakhtawari, Liaquat Noon, Chaudhry Muhammad Naeem, Shahid Alam and Yousuf Rajput also attended the meeting.
They said that amending SBP rules to extend term of a former Citibank official for third time is unfortunate. They said that masses being insulted and abused by government, bankers as well as IMF. This will not last forever.
"Many industrialists are relocation to other Saarc countries, remaining units are being closed, exports and declining, businesses are on the verge of collapse," they said adding that in such a situation how will the FBR fulfil IMF's dictated target of revenue collection.
Power shortfall is a conspiracy against government and people of Pakistan to push them to Stone Age. Closure of industrial units by authorities will hurt hundreds of thousands of poor families. Privatised power utilities should be nationalised again to avoid political backlash, they demanded.
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