The government has doubled the tax on mobile recharges, adding a 15% withholding tax to each recharge. Every card recharge costing Rs 100 is subject to an extra withholding tax of Rs 9.3, according to Ministry of Finance sources.
Telecom firms have declared that they will pay an extra tax on balance recharges, resulting in a balance of Rs 86.9 for a Rs 100 recharge. Various telecom firms are sending text messages to customers warning them of the tax increase in this regard.
The KSE 100-index of the Pakistan Stock Exchange (PSX) went bullish in October, adding 212.82 points, or 0.48 percent, to close at 44,586.05 points, up from 44,373.23 points on the previous working day.
