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  • Pakistan: Thousands of businesses launch protest against new IMF-backed sales tax

    Published on July 13, 2019

    In Pakistan, thousands of businesses are on a nationwide strike to protest against a new sales tax.

    Opposition political parties alleged that new tax imposition is part of the International Monetary Fund, IMF’s, recent six billion dollar bailout package for Islamabad.

    Today’s strike is happening in shopping malls and wholesale commodity markets, small shops and electronics stores.

    In the country’s commercial hub, Karachi, divisions among retailers made the strikes less effective.The IMF approved the bailout on 3rd July, saying it would help reduce public debt and expand social spending.