KSE – 100 Index is trading in the bullish region at open bolstered by Power Gen and Tech stocks.
KEL is up 4.158 percent at open after Government allowed the company to use RLNG fuel to decrease power shortage across the metropolis. However, the government did not grant any change in the fuel price. Regarding the development between the SSGC vs. KEL case, K Electric moved into the Sindh High Court against the Sui Southern Gas Company Limited after it petitioned against the SSGC’s threats of reduction in gas pressure.
Furthermore, caretaker Finance Minister Dr. Shamshad Akhtar yesterday ruled out the possibility to extend the dates of Amnesty Bill which is set to expire on June 30th, 2018. While meeting with the Federal Board of Revenue officials, she directed the members to take necessary bold steps to make the amnesty scheme a success.
On the global front in latest oil news, Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer group including Iran.
