Fuel Price Drop

KARACHI: Sindh transporters announced a 10 percent reduction in fares on Thursday following the significant decrease in the prices of petrol and diesel. The Sindh transport department conducted a meeting with a transport association delegation to facilitate this decision.

During the meeting, the transport department declared a 10 percent cut in intercity fares and issued a stern warning of legal action against those who failed to comply. Additionally, it instructed regional and district transport officials to ensure the enforcement of these orders.

In a separate development, the Islamabad Transport Authority (ITA) aimed to provide relief to commuters by announcing a 10 percent reduction in transport fares for both inter-city and intra-city routes.

This decision resulted from a meeting held in accordance with the instructions of Deputy Commissioner Islamabad, Irfan Nawaz Memon, in response to the government’s reduction in petroleum product prices.

The reduced fares will be applied to 23 different routes within the Islamabad district and for intra-city transport outside of Islamabad, as stated in the announcement.

It’s worth noting that the price of petrol dropped to Rs 283.38 per liter, with a significant reduction of Rs 40 per liter, while the price of high-speed diesel (HSD) was also reduced by Rs 15 per liter to Rs 303.18.

Overall, Sindh transporters cut fares by 10% after a significant fuel price drop on Thursday.

Pakistan Stock Exchange KSE-100 Index Surpasses 50,000 Mark, Closing At A Six-Year High

Moreover,

The Pakistan Stock Exchange KSE-100 Index recorded a positive trading today, recording gains of 933.68 points, equivalent to a 1.89 percent increase, ultimately closing at 50,365.15 points. This milestone was last achieved six years ago.

According to financial consultancy firm Tresmark, the last time the index had surpassed the 50,000-point mark was in May 2017 when it closed at 50,592 points.