June 06, 2008	Friday	Jamadi-us-Sani 01, 1429

KARACHI, June 5: The Overseas Investors Chamber of Commerce and Industry (OICCI) said here on Thursday that the government’s initiative of involving stakeholders, prior to taking any policy decision, would bring stability back to the stock market besides raising investor confidence.

The government’s decision to develop a three-year capital market policy, which would focus on reforms related to taxation, promotion of new listings, integration of capital markets with the national economy, reflects governments sincerity in bringing stability into the country, said a statement.

“There are no sudden shifts in policy and it is good that the government is involving the stakeholders for their input,” said the OICCI statement.

ABC: American Business Council of Pakistan President Tasleemuddin A. Batlay, commenting on extension of exemption of Capital Gains Tax (CGT) on shares listed on the stock exchanges, said the decision would help rehabilitate and enhance confidence of both domestic and international investors.