The Pakistan Stock Exchange (PSX) reflected a stalemate situation on Tuesday, with the day’s trading characterised by fluctuations that ultimately resulted in a marginal net decrease of only 0.14% or 86.84 points, closing at 63,219.09 level.
Although the KSE-100 index saw an increase of over 300 points at noon, it faced a persistent downward trend in the post-afternoon session.
The week started on a positive note with improved political clarity following the election of chief ministers in Punjab and Sindh.
However, the country’s power sector remains an old problem plagued by new challenges. The National Electric Power Regulatory Authority (NEPRA) approved a fuel cost adjustment (FCA) of Rs 7.06 per unit for electricity used in January.
As per a Nepra report, electricity distributors, including K-Electric, significantly underperformed in 2022-23, leading to an annual financial shortfall of Rs 1 trillion and exacerbating the country’s energy sector circular debt by an additional Rs 350 billion.
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