Business
June 4, 2021
Stocks on Thursday ended hardly changed after opening on a strong note as investors rolled up capital gains across the board in an otherwise bullish market, dealers said.
At Pakistan Stock Exchange (PSX), the benchmark KSE-100 Shares Index shed 0.07 percent or 33.37 points to close at 48,093.53 points.
The ready market volumes stood at 889.93 million shares compared with the turnover of 1.04 billion shares in the last trading session.
Topline Securities in its daily market review said range-bound activity prevailed at the bourse.
Higher international oil prices and $200 million credit facility for housing sector proposed by World Bank led the market to open on a positive note and resulted in an intraday high of 307 points, the brokerage said.
KSE-100: Stocks close flat in range bound session dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
New SOE Policy Can Help Govt Earn Rs. 64 Billion Without Any New Taxes
The Pakistan Tehreek-e-Insaf (PTI) government could collect twice as much non-tax revenues as the tax amount as dividends from state-owned enterprises (SOEs), including the Oil and Gas Development Company Limited (OGDCL), the Pakistan Petroleum Limited (PPL), and the Pakistan State Oil (PSO).
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This will be good news for the government that is desperately searching for alternative sources of revenue without having to hike or implement new taxes.
Express Tribune reported that the government can earn an additional amount of Rs. 34 billion to Rs. 64 billion in dividends from the SOEs in the next fiscal year starting 1 July 2021, with a policy of these companies paying 50 percent of the net income in dividends to their shareholders.
KARACHI: Oil sales increased 14 percent year-on-year and one percent month-on-month to 1.7 million tons in May, taking cumulative turnover to 17.5 million tons, up 18 percent.Sequential growth was.