A high-level delegation of Pakistan Stock Exchange, also comprising of renowned business tycoons, called on Prime Minister Imran Khan at Sindh Governor House, here on Sunday. The meeting was very fruitful and the two sides agreed to revive the investors'' confidence at PSX. Federal Minister Asad Umar and other prominent members of the Cabinet and Governor Sindh Imran Ismail also attended the meeting. Led by chairman Sulaiman S Mehdi, PSX Board members, prominent brokers and businessmen, including Aqeel Karim Dhedhi, Arif Habib and Basheer Janmohammad, discussed following points:
1. Advance Tax of 0.02 percent on purchase and sale of shares (both sides) to be reduced to 0.01 percent; however, on the request of the chairman the Finance Minister agreed to consider abolishing it completely. This has no tax revenue impact on the government being an adjustable tax;
2. Allow carry forward of capital losses up to 3 years; 3.Rationalisation of Taxation of Holding Companies on inter-corporate dividend; 4.Rationalisation of Capital Gain Tax on Equities in line with real estate in the next budget; 5. Promote listing of government and CPEC projects Debt at PSX; 6.Help curtail over-regulation over brokers for promoting equity investments. It was also agreed that the proposed changes will be enacted on fast track.-PR
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