Good times are going on for the Pakistan stock market. Investors, or at least those who have plenty of cash in spare, are making tonnes of money as share prices rise to new highs.
In the previous week, the benchmark KSE-100 index roared past the 48,000-point level last seen four years ago on June 15, 2017. In May alone, the index gained as many as 3,929 points.
Under such circumstances, the country’s economic managers and taxmen could be licking their lips, wondering about their share in the pie. But Finance Minister Shaukat Tarin, traders say, has already promised he’ll levy no new taxes.
In its budget proposals presented on May 21, the Pakistan Stock Exchange (PSX) has “asked for more”. The core principle in drafting the budget proposals, the PSX said, was to increase the size and depth of the capital market by incentivising new listings and increasing the investor base without impacting government revenues.