The Karachi Sarafa Association, led by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) President Qasim Shikarpuri, has announced a complete suspension of talks with the Federal Board of Revenue (FBR). Accusing the FBR of using coercive, “gang-war-style” extortion tactics to cover its revenue shortfall, the association staged a complete strike on Tuesday, shutting down gold markets across Karachi and Sindh.
The leadership leveled serious corruption allegations, claiming FBR officials demanded a PKR 250 million bribe from two members in Peshawar. Despite doubling their tax contribution estimate from PKR 22 billion last year to PKR 44 billion this year, the jewellers rejected the Point of Sale (POS) law and Section 175-C. A decision regarding a nationwide strike will be finalized after further consultations.
