Re: Karachi stock market crashes 1300 points
Bahut arsa pehley mein ney aik sawal poocha tha jis ko kisi ney touch karnay ki koshish nahi ki, kyoonkay ‘numbers are fake’ ki haqeeqat sub jantay hain. I will ask it again.
According to Ishaq Dar and certain newspapers, the recent stock market drop of 1000 points or so has resulted in a loss of almost (let me count…300+68+78 = 446 billion rupees. So conversely, when the market went up from 21,000 last year to 30,000 this year, the investors must have made 446 billion for every 1000 points? That comes out to 446 x 9 = 4014 billion rupees…thats $40 billion dollars. Now in cap gains tax alone, the govt should have received more than $10 billion in taxes over the past year. Am not even counting the withholding tax and a bevy of other taxes levied on stock market transactions. So for a start, please tell me why the govt is scraping the barrel for pennies, begging IMF for more, when it has been flush with cash?