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Selling pressure further pulled down prices at Karachi Stock Exchange (KSE) Thursday as 100-Index plunged by 100.18 points to close at 7,142.42, dealers said. The turnover volume was low at 114.060 million shares as prices of 229 sustained losses while 91 recorded gains and 21 remained unchanged. A dealer at a leading brokerage house said that the market was bullish in the morning, but profit taking eroded values. The market started going down on selling pressure with no support from financial institutions and Index closed in the negative zone. The market capitalization was also eroded by about Rs 29 billion to Rs 2.127 trillion. Bosicor Pakistan was the volume leader with a turnover of 15.541 million shares followed by Jahangir Siddiqui Co 9.075 million shares, D G Khan Cement 6.490 million shares, Bank of Punjab 5.009 million shares and POL 4.887 million shares. Pakistan Oilfields closed at 147.52, Lucky Cement 55.16, NBP 72.51, Bank Al-Falah 11.84, Jahangir Siddiqui Co 26.54, Bank o...

KARACHI: A high level delegation of Hong Kong based Independent Power Producers Forum (IPPF) will visit Pakistan on May 17, to explore possibilities for investment in power generation. This was stated by the chairman Pegasus Consultancy, Asim Siddiqui while talking to APP here Thursday. He said that this forum is one of the world’s largest support organizations which promote private power generation across Asia and Pacific. All the large producers of power generation equipment and machinery, including General Electric of USA, Maurobeni of Japan, Siemens of Germany, and National Power of UK are its members. They have identified three countries in Asia and Pacific for new power projects in 2009, and Pakistan is in the list that also includes Indonesia and Vietnam, he added. He said that the delegation will also attend the 7th Pakistan Oil, Gas & Energy Exhibition (POGEE) and conference, scheduled from May 18 to 21 at Karachi Expo Centre. Asim said that the delegation will also presen...