Pakistan KSE 100 index falls 4.8% after gov't announces new industry tax
KARACHI, Pakistan, June 24 (Reuters) - Pakistan's KSE 100 index fell 4.8% on Friday, market data showed, after the government announced a new super tax on industries in a bid to raise revenues and clinch an IMF deal.
The market fell 2,053.35 points to 40,663.62 before being suspended for lunch and Friday prayer break.
Saad Hashemy, Executive Director of BMA Capital, linked the market slump to the announcement of the new one-time 10% super tax on large-scale industries. (Reporting by Syed Raza Hassan Editing by Mark Heinrich)
