Stock market investors ignore arrest of Imran Khan
ISLAMABAD: The stock market ignored the arrest of PTI chairman Imran Khan and edged up close to the 49K level this morning. The KSE-100 index gained 307 points on Monday morning, till 9:50 am, and surged to 48,879 points.
After the arrest of former prime minister Imran Khan on Saturday, everyone was expecting a blow to the stock market on Monday.
However, investors in the market totally overlooked this factor and took fresh positions amid expectations of further growth in the market.
On Monday, the KSE-100 touched 48,716 low level and 48,928 high level by 9:50 am.
The market traded 38.535 million shares in 50 minutes after its opening. The value of the traded shares amounted to 58.585 billion rupees.
The way the stock market behaved today, it appears that investors are least interested in the arrest of PTI chairman Imran Khan.
FBR chairman rules out tax exemption for real estate sector
Meanwhile, during a meeting with a delegation of realtors, Malik Amjad Zubair Tiwana, the Chairman of the FBR assured them that he would address their concerns. He also promised the best possible facilitation for the real estate dealers.
However, he ruled out any new tax exemption, concession, or preferential tax treatment for the realtors. This is due to the stand-by arrangement with the International Monetary Fund (IMF).
The President of the Realtors Association, Sardar Tahir Mehmood, expressed his concerns about the tax increased on the immovable property. He said that the new taxation measures have created a discouraging environment for investment in the real estate sector.
The delegation proposed the abolition of tax on deemed income from immovable property.
