PSX Bleeds Over 2,000 Points After Govt Imposes ‘Super Tax’ on Large-Scale Industries

KSE-100 lost over 1,000 points after opening trade at 42,716.97. Prime Minister Shehbaz Sharif announced a 10 percent “super tax” on large-scale industries. Fertilizer, oil & gas, and cement were the top negative contributors to the bourse.

The KSE-100 index fell 4.83 percent after Prime Minister Shahbaz Sharif’s speech. PM imposed a super tax on top industrial arms, including cement, steel, sugar, oil and gas, fertilizers, textile, banking, automobile, cigarettes, beverages, and chemicals.