Business Community took out a protest rally against government for bringing mini budget through three Ordinances here on Saturday, while yarn and grey cloth merchants announced to close down their business on March 21 to register their protest against forcibly enforcement of 19.5 percent General Sales Tax(GST).
In a protest meeting of textile sector, which was held at Pakistan Yarn Merchants Association (PYMA) Punjab and Khabir Pakhtun Khaw Zone, it was unanimously agreed that business community is out rightly rejected the three Ordinances of the President and they would strongly oppose the harsh mini budget.
Addressing the protest meeting, Syed Fahim Mehmood Shah, Chairman, PYMA said that textile sector is facing worst ever crisis due to non-availability of gas and electricity, while enforcement of mini budget through three Ordinances not only export-oriented and labour intensive industrial sector baldly affected, but adding fuel to fire through heavy taxation crushing trading class.
He outrightly rejected the imposition of sales tax and announced that the all yarn markets in Punjab and upcountry will be closed down on Monday (March 21). Muhammad Yousaf Moti, President Grey Market Karkhana Bazar also announced to close their business on Monday as a mark of protest.
The protest meeting was also addressed by Syed Omer Nazar Shah, Regional Chairman, All Pakistan Textile Mills Association, Waheed Khaliq Ramey, Chairman, Council of Looms Owners and others. Meanwhile, a big protest rally was taken out from Jamia Masjid Kutchery Bazar after Asr prayers, which was led by Khuwaja Shahid Razaq Sikka, President Anjuman-e-Tajran Faisalabad, and other leaders of the business class.
Addressing the protest rally at Chowk Clock Tower, Khuwaja Shahid Razzaq Sikka demanded that the looted Pakistani wealth should bring in the country by the rulers instead of the imposing harsh mini budget over the regular taxpayers. Financial leakages should be stopped in the state run companies to save the public money rather than raising the taxes over the business community and general public. Looters should be brought in tax net through transparent system.
Addressing a meeting to value-added textile industry meeting Chaudhry Salamat Ali, Chairman, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) North Zone said that Federal Government has imposed several taxes on various segments of textile sector including sales tax on textile business chain, which affect the ginners, spinners, weavers, hosiery manufacturers and those down the value chain which has put domestic cotton and textiles sales in the lurch pending clarifications or withdrawal of these taxes by the government as demanded by trade and industry. He demanded that three ordinances should be withdrawn immediately in the best interest of the country.