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December 3, 2019

Safe stocks

Newspost

 
December 3, 2019

The Pakistan Stock Exchange has become the best performing stock exchange due to the recent improvement in rules and regulations that have attracted more investors to the PSX. Stocks of companies that pay regular dividends are a great way for private investors to earn profits from stocks for long-term investments and the best thing is that investments can start with as little as ten rupees.

Unfortunately, the dividend payment still needs improvements. For example, I recently received a notification for dividend payment for GWLC stocks. My total dividend was 50 rupees, but I was charged 25 rupees as Zakat, while I had to pay additional 17 percent tax on the 50 rupees dividend. I think charging 50 percent Zakat is wrong plus charging tax on 50 rupees while in reality I was receiving 25 rupees was also wrong. I therefore request the government and the PSX to improve this issue so more private investors can find stocks a safer and efficient investment.

Engr Shahryar Khan Baseer

Peshawar

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