This refers to the report, ‘Zardari urges business community to invest in stock exchange’ (October 9). According to the article, President Asif Zardari has encouraged the business community to invest in the country’s stock exchange while also focusing on industries that support small and medium enterprises and create jobs.
In support of these commendable remarks, I earnestly urge Prime Minister Shehbaz Sharif and Finance Minister Aurangzeb to implement measures that will facilitate more businesses and companies in becoming listed on the Pakistan Stock Exchange (PSX), reduce the withholding tax on dividends and bonus shares to 10 per cent for filers and 20 per cent for non-filers, provide greater tax relief to companies engaged in CSR and green initiatives, whether in cash or in-kind, and encourage all listed companies to offer internships and training programmes to youth and students. A larger valuation for the PSX will benefit all companies traded on it, including their stakeholders, employees, shareholders, and creditors/suppliers. Simultaneously, the country’s mutual funds industry will thrive, as it is directly linked to the fortunes of the PSX. A vibrant PSX signifies a vibrant Pakistan.
Abbas R Siddiqi
Lahore
