KSE – 100 Index is up by 83 points during the first thirty minutes of trading. The index, according to experts, is expected to remain above the 46500 points whereas possibly gain to report 47000 points at day end.
The index is currently trading at 46720 points, up by 0.17 percent. Total volume traded currently at 18.930 million with a value of 769.054 million.
Furthermore, State Bank of Pakistan (SBP) today warned that the country would possible not be able to make achieve the target growth rate during the current fiscal year. SBP warned that the “agricultural growth is likely to remain lower than the last year.
In news, PSO resumed fuel oil imports after 4-month gap during the last week after claiming that it has receivables worth Rs. 28 billion from Sui Northern Gas Pipelines Limited. Rs. 15.53 billion of the said amount is already overdue.
Sector wise, Pakistan Automotive Manufacturers Association (PAMA) has proposed tax measures to reduce import costs for the auto sector in order to reduce the cost of locally produced vehicles. Furthermore, Secretary General Punjab Businessmen Panel has asked Government to announce special slap on auto sector to reduce prices of locally produced cars which have gone through the roof.
