Karachi July 27 2023: Oil and Gas Development Limited (OGDC), The Hub Power Company Limited (HUBC) and Pakistan Petroleum Limited (PPL) rallied on Thursday at Pakistan Stock Exchange as government is looking for developement of framework for sustainable energy sector and Chinese Bank rolls over USD 2.4 billion loan.
OGDC gained 7.5 percent with volume of more than 20 million to trade at PKR 93.33 and PPL advance 6.78 percent with nearly traded volume of 14 million to trade at PKR 74.60 at PSX. HUBC gained 4.07 percent to trade at PKR 85.48 at PSX with volume of more than 7 million shares. OGDC, HUBC and PPL when clubs together contributed more than 300 points to the KSE-100 Index.
KSE-100 index gained 711 points to reach 47,393 points, a high of 22 months. Since signing of Stand by Agreement with IMF KSE-100 index has provided return of 18.2 percent.
Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday chaired a meeting to discuss modalities and framework for bringing sustainability in the energy sector particularly the gas sector to achieve economic growth in the country.
According to the finance ministry’s Twitter handle, the meeting was attended by Special Assistant to the Prime Minister on Revenue Tariq Pasha, Chairman of Reforms and Resource Mobilization Commission Ashfaq Tola, Secretary of Finance, Secretary of Petroleum and other government officials.
