Is there any wonder the bourses are not exactly keen on the PM’s new tax measures?
By Staff Reporter
KARACHI: Pakistan Stock Exchange (PSX) crashed on Friday after Prime Minister Shehbaz Sharif announced to impose a 10 percent super tax on large-scale industries in the new budget.
The PSX nosedived as soon as the news arrived, its benchmark KSE-100 index recording a sharp 2053-point plummet before trading was stopped.
At midday, KSE-100 was negative by 2063.45 points or down 4.83 percent. The index stood at 40,653.52 and the volume at 93.1 million shares at 12:00 midday.
Prime Minister Shehbaz Sharif announced a super tax in a bid to shore up revenues for supporting the country’s poor amid rising inflation.
Copyright © 2021 Independent Pakistan | All rights reserved
