LPG price raised by Rs 14 per KG in Pakistan

KARACHI: The price of LPG has been raised by Rs 14 per kilogram while rates of commercial and domestic cylinders have also been increased.

Chairman LPG Association, Irfan Khokhar confirmed that price of LPG has been increased by Rs 14 per kilogram, rates of domestic cylinder surged by Rs 165 and commercial cylinder raised by Rs 635 per kilogram.

He said that the sudden increase in prices of LPG and cylinders would bring gas crisis in the country and residents of cold areas would have to face difficulties.

He demanded to withdraw the increase in rates of LPG and cylinders as soon as possible.

And at KSE, foreign buying at Karachi Stock Exchange (KSE) pushed the benchmark KSE 100-share Index up by one percent to end near a 29-month high on Thursday.

The Karachi Stock Exchange's benchmark 100-share index ended 1.08 percent, or 121.74 points, higher at 11,343.55, its highest close since July 2008.

Turnover was 134.8 million shares, compared to 157.97million shares traded on Wednesday.
Local investor sentiment has become positive after foreign buying especially in the oil stocks, a dealer said.

Global oil prices inched up on Thursday close to three-week highs of $87 per barrel. The energy sector is the heaviest weighted on the market and Pakistan Oilfields ended 2.25 percent higher at 273.40 rupees.