FBR Chairman announced the government's intention to completely abolish the Super Tax.

The FBR chairman's statement regarding the gradual elimination of the Super Tax could impact corporate profitability across high-earning sectors on the Pakistan Stock Exchange.

Possible impact on PSX shares

• MCB MCB Bank Limited▲ Could be positive

  As a highly profitable commercial bank facing heavy taxation, MCB may see improved bottom-line earnings if the Super Tax is eventually abolished as intended.

  Price when this was written: Rs 397.74 · Live price, chart and results

• OGDC Oil & Gas Development Company Limited▲ Could be positive

  Large exploration firms like OGDC could retain a higher share of their profits if the government proceeds with the total removal of the Super Tax.

  Price when this was written: Rs 310.47 · Live price, chart and results

• HUBC The Hub Power Company Limited▲ Could be positive

  Power producers with substantial earnings like HUBC may experience positive impacts on their net margins following the planned reduction and eventual elimination of the tax.

  Price when this was written: Rs 204.17 · Live price, chart and results

• PPL Pakistan Petroleum Limited▲ Could be positive

  PPL's financial results may benefit from lower effective tax rates if the FBR follows through on phasing out the Super Tax for major companies.

  Price when this was written: Rs 217.17 · Live price, chart and results

Read the full report

Business Recorder: Govt intends to abolish super tax: FBR chairman