Pakistan Stock Exchange proposes tax recommendations for economic growth

The Pakistan Stock Exchange (PSX) has submitted a set of crucial tax recommendations to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for potential inclusion in the upcoming federal budget for the fiscal year 2024-25. These suggestions are aimed at boosting revenue generation and promoting investment in key sectors of the economy that are productive and officially documented. This move is essential for fostering economic growth and creating job opportunities across Pakistan.

The PSX has witnessed notable improvements in its performance, largely attributed to recent stability measures introduced in the broader macroeconomic landscape. Over the past year, the market capitalisation has surged by nearly Rs4 trillion, signaling a significant enhancement in the country's economic prosperity.

The tax proposals put forth by the Pakistan Stock Exchange hold promise for bolstering the country's economic outlook and attracting investments in vital sectors. With a focus on revenue enhancement and encouraging documented investments, these measures have the potential to drive economic growth and pave the way for increased job opportunities in Pakistan. The positive trajectory of the PSX's performance underscores the importance of implementing strategic measures to sustain and further enhance the country's economic well-being.