KSE – 100 Index down 110 points at open

Karachi Stock Exchange, 100 Index has lost more than 110 points right at the outset, continuing yesterday’s bearish run that took more than 323 points at close.

KSE Index is currently trading at 45,364 points; down 0.25 percent.

In early news, Government of Pakistan is expected to withdraw 5 percent sales tax currently applicable on tractor purchases in the near term.

Furthermore, International Monetary Fund (IMF) has projected an increase in Pakistan’s gross government debt from 67.2 percent of GDP in 2017 and 2018 to 67.4 percent in 2019.

In an unexpected reversal from Prime Minister’s explicit orders, Economic Coordination Committee (ECC) of the Cabinet has allowed Pakistan State Oil (PSO) to import 0.420 million tons of furnace oil through gallop tendering process on emergency basis for power generation.