KCCI chief warns of social unrest

President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Sheikh, fervently appealed to the government to reassess the unjust taxation measures and reduce gas and electricity tariffs. These high costs are causing declining exports, the closure of small businesses and industries, and employee layoffs, pushing many businesses to the brink of bankruptcy, he said.

Sheikh highlighted the growing hardships faced by small traders, industrialists, exporters, salaried individuals, daily wage earners, and other segments due to harsh taxation measures, unbridled discretionary powers given to the FBR, and unbearably high energy tariffs.

“The alarming situation calls for extensive relief measures on a war footing to ensure that the wheels of industry continue to spin. Otherwise, our country, already fighting hard for economic survival, will be plunged into the darkness of anarchy. The jobless and poor, with empty stomachs, will have no other choice but to take to the streets, triggering a host of other issues and unmanageable challenges for the government,” warned Sheikh in a statement issued on Friday.