The Federal Minster for Finance upon invitation of the Securities and Exchange Commission of Pakistan (SECP) had a visit to the Karachi Stock Exchange, today. The Minster highlighted various financial and economic reforms undertaken by the Government of Pakistan over the last few years. While appreciating the SECP’s initiative for improving liquidity in the market, enhancing investor education and awareness and the brokers’ capacity to trade, he announced the approval of SECP’s proposal on revamping of Capital Gains Tax (CGT) submitted to the FBR last week. The SECP had been in dialogue with the Ministry of Finance and the FBR on   the rationalization of CGT. The following solutions have been agreed upon for a more balanced and investment friendly CGT approach: -          In view of the official but undocumented gains accrued prior to the imposition of CGT an investment window will be provided till June 30, 2014 whereby investo...

Pakistan Petroleum Limited (PPL) was selected as the largest corporate giver in the category of total volume of donations for 2008 as well as 2009 at the Pakistan Corporate Philanthropy (PCP) Awards held in Karachi on December 6. The company bagged the award for the fifth and sixth consecutive year in the same category. MD and CEO Khalid Rahman received the awards from Federal Minister for Finance, Revenue, Economic Affairs and Statistics Dr. Abdul Hafeez Sheikh. The event, hosted by PCP, was attended by leading businessmen, representatives of multinational companies, government and civil society representatives, donors and media. In his inaugural address, Chairman PCP Dr. Shamsh Kassim Lakha highlighted the organization’s growing role in “professionalizing the process of grant making” and redefining philanthropy not as charity but social asset creation used towards facilitating sustainable development.