Pakistan's business community on strike over inflated power bills
Pakistan's business community observed a shutter-down strike across the country to protest against the inflated electricity bills and rising inflation.
Pakistan's business community on Saturday observed a shutter-down strike across the country to protest against the inflated electricity bills and rising inflation. Rightwing Jamaat-e-Islami (JI) and traders' groups gave the call for protest and they got support from lawyers.
Commercial activities were halted in Karachi, Lahore and Peshawar, as well as in other cities, while public transport was largely off the main roads.In Karachi, the Tajir Action Committee (TAC) on Friday gave the government 72 hours to reduce high electricity bills and withdraw the recent hike in petrol prices.
It warned that if the government failed to fulfil its demands, there would be a prolonged strike of 10 days.
TAC Convener Muhammad Rizwan said there was no compulsion on anyone to join the strike.The Karachi Chamber of Commerce and Industry (KCCI) supported the strike call. However, its President Mohammad Tariq Yousuf said large-scale industries were not part of the strike.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh said that the government was failing to read the writing on the wall.
"Out-of-box thinking is required to emerge from the economic crisis," he said.The strike comes a day after Prime Minister Anwaarul Haq Kakar said that inflated bills were not a big issue and the government would address the problem
.“It is not a very serious issue, but political parties are in election mode and using it as a social cause,” he told journalists on Friday.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
01:55 PM IST