Karachi June 21 2021: Frieslandcampina Engro Pakistan Limited, Fauji Food Limited and AT-Tahur Limited (PREMA) gained more than 5 percent in today’s first hour of trading at Pakistan Stock Exchange on the news of resumption of zero rating status for Dairy sector.
The government has agreed to resume “Zero Rating” status for the UHT milk and nutritional milk powder. Moreover, taxation rate on other value added products such as Tea Whitners is also expected to remain at 10 percent instead of earlier proposal to increase it to 17 percent.
Prices of Olpers, Milkpak, Nurpur and Good milk are likely to reduce by PKR5 per liter while prices of Tarang, Dostea, Everyday and Qudrat are expected to stay the same
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On these favorable budgetary measures FCEPL rallied 7.5 percent, FFL up 5.8 percent and PREMA gained 6.3 percent during first hour of trading. While Shakarganj Limited (SML) parent company of Shakarganj Foods is up by 2.3 percent and ICI is down by 1.3 percent.
