KSE-100 Index takes tumble on CGT doubts

KARACHI: Local stocks ended lower on Wednesday after reports said any changes in capital gains tax regulations could be delayed until the national budget, which is expected to be announced in May, dealers said.

"According to reports, any SRO (Statutory Regulation Order) or presidential order is unlikely to be issued in regards to amendments in CGT," said a dealer.

Pakistan's Finance Ministry and Federal Board of Revenue were unavailable for comment.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended down 0.62 percent, or 86.16 points, at 13,816.96 points.

Volume rose to 511.29 million shares, compared with 166.98 million shares traded on Tuesday. (Reuters)