KARACHI (HRNW) Trade leaders at a post-budget seminar, hosted by Jamaat-e-Islami (JI) Karachi, developed a consensus that the prevailing situation of the economy was a result of the flawed policies on part of the government and that a movement against the government over inflation was the need of the hour.
The seminar was held here on Tuesday at Idara Noor-e-Haq, the JI Karachi headquarters. A large number of representatives from various trade organizations spoke at the seminar.
The distinguished speakers shed light in detail on the impacts of indiscriminate and excessive taxation on various sectors. They requested the JI to take the lead in agitation against the government over inflation as the prevailing situation was a complete recipe for not only the trade and industry sector but for a comprehensive economic downfall.
Speaking on the occasion, JI Karachi Ameer Munem Zafar in his presidential address, said that there is an acute unrest in the country. The affected people are about to burst, he said, adding traders, industrialists, exporters, salaried class — everyone was protesting.
Highlighting the imparity in the tax regime, he said that the government received Rs360 billion in taxes from the salaried class, whereas the feudal lords paid just Rs4 in taxes.
At one hand, the people were suffering from acute crises of petroleum prices, water and electricity, while on the other, the government has paid Rs 174 billion to the Murderer Electric in the name of subsidies, he referred to the K-Electric.
He said that ironically, in this backdrop the government has withdrawn the subsidiary of worth Rs3000 billion on the prices of flour, pulses, milk and medicines. In addition, he said, Rs3600 billion would be extorted in the name of taxes, out of which 50 would be utilized to pay interest to the International Monetary Fund. Instead of providing any relief to the masses, the government increased the expenditure of the president house and the prime minister house by 30 percent, he said and highlighted that the government has allocated Rs17500 billion for luxuries of the privileged class.
He recalled that the perks of legislators have been increased by 30 percent, whereas electricity worth Rs225 billion and petrol worth Rs550 billion is given free of cost to the privileged class.
The JI leader said that the Pakistan People Party government has allocated on 2.5 percent of its budget for Karachi. On the occasion, he announced that the JI is going to hold protest in Karachi against inflation, unjust budget and load shedding on July 4 and 6 in Saddar and Liaquatabad areas respectively, whereas a big protest sit-in will be launched in Islamabad on July 12.
Karachi Tajir Ittehad head Attique Mir strongly condemned the government’s economic policy dictated by the IMF. He said that the monetary institution has ruined at least 70 economies across the world and now Pakistan has become its target.
He also condemned the interest based economy model in the country and urged the JI to take leader in the protest against inflation and assured the leadership that Karachi’s traders will be playing an active role in the movement.
Karachi Electronics Dealers Association chief Rizwan Irfan also rejected the budget and lambasted the government for excessive taxes. He highlighted that the government has imposed 30 percent taxes on the prices of mobile phones.
Younus Barai also shed light in detail on what Karachi pays to the state and what it receives in the response. He urged the nation to come forward for their own interests.
Mahmood Hamid, representing small scale business and industry sector, presented a resolution in the seminar, demanding the government to withdraw excessive taxation and other unjust measures. The resolution was passed unanimously.
Over a dozen other trade leaders also expressed their views at the seminar.