Pakistani traders strike over IMF austerity measures

Markets and wholesale merchants across Pakistan closed on Saturday in a strike by businesses against measures demanded by the International Monetary Fund to crack down on tax evasion and bolster the country’s depleted public finances. In Karachi, the country’s main commercial city, around 80% of markets dealing in bulk goods were closed, said Atiq Mir, president of the All Karachi Traders Alliance, which represents hundreds of markets in the city. “Government policies have created mistrust in trade and industry,” said Mir, who added that traders were already struggling with corrupt tax officials demanding bribes.

Source: Yahoo.com