KSE-100 rises over 800 points on IMF programme hopes on June 28, 2022Investor confidence was boosted by a slew of positive triggers on Monday, which resulted in the benchmark KSE-100 Index rising 2.01 percent. The KSE-100 has rebounded after a ‘super tax’ was imposed on 13 sectors by the government on Friday, which resulted in a drop of 1,665.18 points or 3.9 percent on the KSE-100 index. […]
KSE-100 recovers a bit after 2,000 points drop on June 25, 2022There was an immediate backlash in the Pakistan Stock Exchange (PSX) after Prime Minister Shehbaz Sharif held a press conference, saying that the government will implement a hefty ‘super tax’ of 10pc on significant enterprises. In less than 20 minutes, the PSX plummeted after dropping 1,598 points to 41,100 at 11:40am., the KSE index took […]
Business community denounces ‘Super Tax’ on June 25, 2022Acting President of the FPCCI, Shabbir Mansha, has strongly opposed putting a 10pc super tax on large industries, which already pay a high corporate tax of 29pc and make millions of jobs in the country. He also said that no country in the world could charge 39pc tax to corporations and still keep the economy […]
FPCCI welcomes IMF deal with cautious optimism on June 24, 2022Shabbir Mansha, Acting President of FPCCI, has welcomed the near-certain resumption of the International Monetary Fund (IMF)’s Extended Fund Facility (EFF) program for Pakistan with cautious optimism as it may unlock the stabilization of the exchange rate and pave the way for major external funding programs for the fiscal year 2022 – 23 from the […]
FPCCI chief expresses concerns over anomalies in budget on June 23, 2022FPCCI acting president Shabbir Mansha has expressed his profound concerns about the glaring anomalies in the federal budget for 2022-23. We have noticed anomalies in custom duties, regularity duties, income tax, and sales tax, he added. Mr. Shabbir Mansha noted that a turnover tax of 1.25pc for traders, distributors, and dealers is unbearable as profit […]
KSE-100 ends tumultuous session 0.16pc lower on June 23, 2022In a tumultuous session, the Pakistan Stock Exchange (PSX) saw the KSE-100 index rise in the morning, then fall back to close the day 0.16pc lower. The index ended the day down 67.81 points at 42,458.14. The IMF’s $6b bailout package was revived early on, according to early morning stock picks by investors. After it […]
Financial system performed well and remained resilient, says Financial Stability Review 2021 on June 23, 2022A new edition of the Financial Stability Review (FSR) for the calendar year 2021 has been published by the State Bank of Pakistan (SBP). Many financial institutions and markets are profiled in this report, including banks as well as non-bank financial organizations such as hedge funds and insurance companies. The study of global dynamics reveals […]
KSE-100 falls 0.86pc on June 21, 2022The Pakistan Stock Exchange (PSX) saw investors take profits in the opening trading session of the week, resulting in a weaker KSE-100 Index. A large drop was also seen in the volume and value of shares traded. The rupee lost Rs1.21 or 0.58pc to close at 209.96 to the dollar as the IMF rescue programme […]
Weekly Stocks Review: Rumours keep market flat on June 20, 2022The International Monetary Fund (IMF) expressed dissatisfaction with the proposed government budget for the 2022-2023 fiscal year, which caused the Pakistan Stock Exchange (PSX) to commence the week on a sour tone and see a bloodbath. Because of this, the market dropped by 1,135pts from the previous day’s close. During the course of the week, […]
CPSP, Gambat Institute sign MoU on June 20, 2022Pir Abdul Qadir Shah Jeelani Institute of Medical Sciences, Gambat has achieved another milestone of accreditation of FCPS / MCPS training programs in various disciplines in collaboration with College of Physicians and Surgeons Pakistan. CPSP team comprising President Prof Mohammad Shoaib Shafi, Senior Vice-President Prof Khalid Masood Gondal (Tamgha-e-Imtiaz & Presidential Pride of Performance) Prof […]