The Budget for the Fiscal year 2009 - 2010
June 14, 2009The new Budget for the Fiscal year 2009-10 announced yesterday has proved to be a non-event for the stock exchanges in Pakistan. While there are some benefits for the textile and cement sector (reduced FED on cement from Rs900 per metric ton to Rs700 per metric ton.), a 16 percent federal excise duty (FED) would be charged on fees charged by banks, stock brokers and insurance companies. More details will follow…
Pakistan will scrap a 0.02 percent capital value tax (CVT) on the purchase of shares while imposing a new tax on brokers’ commissions, a government adviser said on Sunday… Aaj News
The text of the Budget speech of Minister of State for Finance and Economic Affairs, Hina Rabbani Khar in the National Assembly here on Saturday: The Nation
