Withholding Tax left Pakistan Economy in a great shock

KARACHI: Government of Pakistan has faced huge shock in its economy. The economy of Pakistan started shaking very badly. Traders started withdrawing their funds from the banks.

According to the State Bank sources, Banking Sector of Pakistan has been seen with the reduction of 121 Billion in their reserves during the month of July and August. Banks reduced their reserves by 33 Billion rupees in July and 88 Billion rupees in August.

Government of Pakistan implemented a Withholding Tax (WHT) of 0.6% on all those, who are non-tax payers. Traders of Pakistan protested over the law of WHT and decided to end all kind of business transactions through banking sector of Pakistan.