Finance Minister to consider proposals to restore investor confidence: PSX Brokers

PSX Stockbrokers Association on Monday got assurance from the Finance Minister Asad Umar and Minister of State for Revenue Hammad Azhar that recommendations forwarded by the association will be reviewed and due consideration will be given.

The delegation of PSX Stockbrokers Association hold meetings in Islamabad on Monday with the Chairman of SECP Shaukat Hussain,  Minister for Revenue Hammad Azhar and Finance Minister Asad Umar where they deliberated views about the performance of the capital market and explained that due to indecisiveness on some of the issues especially the economic woes, the market has suffered tremendously.

The members of the Association who met the finance minister and revenue minister are : Hammad kehar, Munir Khanani, Adil Ghaffar, Ghulam Mujtaba, Bilal Farooq and Farrukh Khan.

According to one of the members of the Association in reply to message these following issues were discussed and Minister for State of Revenue would likely to consider the issues pertaining to capital market.

These are advance tax under section 233A be reduced to 0.01% adjustable OR final, advance tax under section 233A on Prop book be abolished, rationalization of Capital gain tax with that of property will be discussed later, Carry forward loses should include loss on stock market transactions and incentives will be given to companies to encourage listing in stock exchange.

It was learned that the Finance Minister Asad Umar would address brokers community on Saturday at the Pakistan Stock Exchange.

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