KARACHI – The business community in Karachi observed a partial strike on Saturday in response to the tax measures and expanded arrest powers granted to the Federal Board of Revenue (FBR) under the Finance Act FY26. The strike, called by the Karachi Chamber of Commerce and Industry (KCCI), was supported by trade bodies, industrial area associations, petroleum dealers, transporters, and chain store operators, who protested against what they described as anti-business measures and proposed provincial labor policies.
All Karachi Tajir Ittehad Chairman Atiq Mir told Dawn.com that the strike was in opposition to the increased powers of the FBR, particularly the authority to conduct raids and arrests of businessmen. While markets at Gul Plaza, Teen Talwar in Clifton, and Nursery remained open, the majority of traders supported the strike. However, some traders expressed concerns over the nature of the demands, especially regarding raids on shops and the closure of shops due to alleged poor conditions.
Sharjeel Goplani, a leader from the Old City areas, mentioned that markets like Lea Market, Urdu Bazaar, and Timber and Furniture markets remained open, with a partial strike observed.
The expanded powers of the FBR under the new Finance Act include the authority to block high-value transactions for non-filers, such as purchases of vehicles and property, investments in securities and mutual funds, and opening certain prestigious bank accounts. Additionally, the FBR now has the power to seal unregistered business premises, confiscate goods, and recover taxes from firms, including those in the public sector. These measures have drawn widespread criticism from the business community.
The Lahore Chamber of Commerce and Industry also joined the protest, condemning the enhanced powers of FBR officials and the lack of consultation with the private sector.
Earlier, the business community appeared divided over the strike, with the Federation of Pakistan Chambers of Commerce and Industry Senior Vice-President Saquib Fayyaz Magoon claiming that chambers and trade associations had agreed to postpone the strike after a meeting with Special Assistant to the Prime Minister on Industries Haroon Akhtar Khan. However, the partial strike indicated ongoing concerns within the business community regarding the proposed changes.
