Pakistan Stock Exchange sinks by nearly 5% after 'super tax'

KARACHI: The Pakistan Stock Exchange plunged by more than 2,000 points or nearly 5 per cent in just 22 minutes of manic trade at noon on Friday, after Prime Minister Shehbaz Sharif announced a new “super tax” on large-scale industries that spooked investors.
Sharif on Friday announced a 10 per cent “super tax” on large-scale industries like cement, steel and automobile, a move he said was aimed at tackling spiralling inflation and saving the cash-strapped country from going…