Traders call off strike as govt agreed to review Finance Act

ISLAMABAD: A planned nationwide strike by the business community has been called off after successful talks with the federal government, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) announced on Friday.

Speaking at a press conference alongside representatives of various trade bodies, FPCCI President Atif Ikram Sheikh said the strike would no longer take place as the government had agreed to review key clauses of the Finance Act that had sparked widespread concern among traders.

“All major trade bodies across Pakistan are with us,” he said. “We do not want confrontation; we want to resolve issues through dialogue.”

The consensus between the government and traders was reached during the special committee meeting chaired by PM’s aide Haroon Akhtar on revising the controversial provisions of the Finance Act that had triggered the traders’ protest.

The FPCCI president said the government had assured them it would revisit Article 37A of the Finance Act, which had been a major point of contention. A four-member committee has also been formed to examine the matter, and a review of Article 40B has also been announced.

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Sheikh added that Prime Minister Shehbaz Sharif would give final approval to the proposed changes. “There will be no nationwide strike,” he said, “though there might be isolated incidents in a few places.”

Senior Vice President of FPCCI Saqib Fayyaz Magoon confirmed that representatives from the Gujranwala and Quetta Chambers, as well as from Karachi, Lahore, and Faisalabad, participated in the meeting and backed the decision to call off the strike.

All Pakistan Traders Association President Ajmal Baloch noted that it was the first time his group and the FPCCI were standing together. “We believe there’s no immediate need for a nationwide strike,” he said. “The trader community shares common issues.”

He said Haroon Akhtar had committed to addressing their concerns on four key points. “We held four hours of negotiations with the government,” he added, noting that the prime minister had empowered Akhtar to resolve the matter.

“We are hopeful the issues will be resolved. If not, we may resort to a strike later,” Baloch warned.