Committee formed to discuss PSX issues with federal govt
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KARACHI: The senior Stock Brokers, Fund Managers and Chief Executive Officers (CEO) of Assets Management Companies (AMCs) has decided to make a committee to apprise the federal government about the issues of Pakistan Stock Exchange (PSX) including the current PSX crisis.
Following the decision of the senior brokers, a five-member committee has been constituted consisting on Chairman PSX Sulaiman Mehdi, Adnan Afridi of NIT, Amjad Waheed of NBP-Fund, M. Shoaib of Meezan Investment, and Adil Ghaffar of FEM.
According to the sources, this committee will negotiate with the federal government on different issues including ‘Securities’ definition be updated after Sindh High Court (SHC) Judgement. The Committee will also discuss the matter of abolishment of Capital Gain Tax, Capital Value Tax (CVT) on share purchase and all major Pension Funds be requested to invest in Stock market.
The matter regarding Monetary Policy, pass on the oil price reduction, relaxation of rules for Treasury Stocks, Tax Amnesty like 2012, reduction in interest rates on bank borrowings for investment in Stock markets and others issues would also be discussed with the federal government, chief of SECP and federal finance minister Abdul Hafeez Shaikh.
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