KARACHI (June 08, 2009): Bearish sentiment prevailed at Karachi share market during the week ended on June 6, 2009 due to investors' concerns over the coming budget and absence of any leverage product. The KSE-100 index declined by 381.99 points, or 5 percent, and closed at 6,894.62 points.
New listing companies: SECP seeks reduced corporate tax rate.
ISLAMABAD (June 08, 2009): The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to apply reduced corporate tax rate on new listing of companies on stock exchanges in the 2009-10 budget. It is learnt that the SECP has proposed tax slabs for new listing of companies through amendment in the Schedule-I, Part I, Division II of Income Tax Ordinance, 2001.
25 percent decline in CFS investment.
KARACHI (June 08, 2009): Investment from CFS at Karachi share market declined by Rs 26 million, or 25 percent, to Rs 78 million on Friday. "With phase-out of the CFS Mk-II since April 8, 2009, the investment level has been falling by every day as investments made earlier are being released", Muniba Saeed, an analyst at Invest Capital and Securities said.
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