CVT ON PURCHASE OF SHARES

[motasim]

Dear Friends.Would you like to cooment on the issue of CVT on purchase of shares.

[massood akhter]

Dear Motasim

The Government recently has levied @ 0.1 % cvt on the purchase of modarba certificate or any other instrument of redeamable capital.

this cvt will be collected by member of stocfk exchange. Various stakholder very much contested this levy. And finally the government has constitued a committee to settle this issue, but still not finalised as per my knowledge.
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massood ar.

[smraza]

It has been agreed to reduce cvt from 0.1 % to 0.01% subject to approval in the Nat. Assy.

SMR

[motasim]

There has been lots of crying from the members of stock exchanges over CVT. It is a good measure in that it would significantly reduce gambling like speculation on stocks, thus protecting the small investors. Thats the main reason, stock members have been crying like rivers. At original .1% this levy was too small to be taken adversely by genuine investors.