Pakistan’s business community appeared deeply divided on Friday over a proposed nationwide shutter-down strike, with the Karachi and Lahore Chambers of Commerce confirming their participation while the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) opted out.
In a press conference, Karachi Chamber of Commerce and Industry (KCCI) President Javed Balwani formally announced a nationwide one-day shutter-down strike for Saturday. "This will be the first phase of protest," Balwani said, indicating the strike could escalate if their demands remain unmet.
He revealed that although productive talks were held with Special Assistant to the Prime Minister Haroon Akhtar, a consensus could not be reached due to a lack of formal documentation. “We asked for written assurances and minutes of the meeting, but nothing was provided,” he stated. “We consulted all stakeholders before taking the final decision.”
Lahore Chamber President Abuzar Shah also endorsed the move, confirming Lahore's participation in the strike to protest the Federal Board of Revenue’s (FBR) expanded powers and recent taxation measures.
Also Read: Traders announce nationwide shutter-down strike on July 19
However, the FPCCI — the country’s largest umbrella organization representing traders — announced that the strike has been postponed. Senior Vice President Saqib Fayyaz Magoon confirmed to Samaa TV earlier that the government had accepted key demands, including halting the implementation of certain FBR powers.
“There will be no strike tomorrow,” Magoon had said, adding that a message had been sent to traders nationwide confirming the decision to hold off.
Karahi's Balwani said the strike duration could be extended if the government did not give a written assurance to meeting their demands. "The government committee has accepted our demands to a large extent. We announced the strike after not getting a written assurance," he explained.
Earlier, it had been reported that the nationwide shutter-down strike planned by traders for Saturday was called off after successful negotiations with the federal government.
Speaking to Samaa TV, Magoon had announced, “There will be no strike tomorrow. The Karachi chamber has informed us about the postponement, and other chambers across the country are expected to make a formal announcement shortly.”
Govt accepts traders’ demands
According to sources familiar with the matter, the government had reportedly agreed to key demands put forth by the business community. One of the central points of contention — the expanded powers granted to the Federal Board of Revenue (FBR) — has been put on hold for the time being.
“The FBR will not exercise the newly granted powers for now,” trader sources had revealed, signaling a breakthrough in the tense standoff.
High-level talks defuse tensions
The negotiations were held in Karachi under the chairmanship of Special Assistant to the Prime Minister Haroon Akhtar. The government’s negotiating team included Bilal Azhar Kayani, Rana Afzal, and the FBR chairman. Senior FPCCI officials and representatives from the Karachi, Lahore, Faisalabad, and Khyber Pakhtunkhwa Chambers of Commerce participated in the discussions, with many joining via Zoom.
“The ice has melted between government figures and business leaders,” said a source present in the meeting.
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