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Daily Times Expert says higher dividends from SOEs to multiply govt s revenue
July 25, 2021
The tax collection from dividend income has registered a sharp growth of 33 percent during the fiscal year 2020-21 due to better earnings of the corporate sector.
The collection of income tax grew to Rs18.46 billion during the fiscal year 2020-21, compared with Rs13.83 billion in the preceding fiscal year. The tax collection from the dividend income is based on the earnings of the companies registered with the Large Taxpayers Office (LTO) Karachi.
The LTO Karachi is the major revenue arm of the Federal Board of Revenue (FBR) and contributes around 40 percent of the land taxes in the total collection at the national level.
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Trade activities soar to multi-year high
Surge comes on back of government’s policies to ramp up economy amid pandemic
KARACHI:
Pakistan’s import and export activities geared up to multi-year high in the fiscal year ended June 30 in the wake of government policies to ramp up economic activities to get out of the Covid-19 pandemic stress. However, the growth strategy has weakened the country’s capacity to make international payments for imports and foreign debt repayments.
The trade deficit surged by a massive $30 billion in FY21 and mounted pressure on rupee against the US dollar, as it dropped to a nine-month low at $161.48 to the greenback on Tuesday, the last working day ahead of Eidul Azha holidays.
Stocks tread water ahead of Eid holidays
July 20, 2021
Stocks were little changed in thin trade on Monday as investors prepared for Eid al-Azha holiday break, traders said.
Pakistan Stock Exchange (PSX) benchmark KSE 100-Share Index closed higher by 38.93 points or 0.08 percent to end at 47,873.26 points against 47,834.33 points recorded in the last session. Intraday high was 48,004.54 points, while the lowest level of the day was recorded at 47,751.72 points.
Ahsan Mehanti, analyst at Arif Habib Corp, said, “Stocks closed higher amid thin trade on speculation in the earnings season. Mid-session pressure persisted on falling global crude oil prices and diplomatic row.”
Surge in local petroleum prices, negotiations with independent power producers (IPP) for circular debt resolution and deals, as well as likely hike in local power tariff played a catalytic role.