Daily News Summary According to RSL Securities Limited , The Iran-Pakistan (IP) Gas Pipeline Project must be completed before 2015 while coal reserves must be utilised to overcome the energy crisis, says expert. Talking to media people, energy sector expert Dr Gul Faraz said that the government can overcome the energy crisis by developing people-friendly policies. Karachi Stock Exchange (KSE) lost 0.63 percent on Monday as institutions booked profits by offloading holdings in the banking and oil and gas sectors. The KSE-100 Index fell by 161.70 points, to close at 25,417.63-level. The apex bourse remained under pressure owing to profit-taking and somewhat diminished interest of the traders. The prices of petroleum product are expected to be raised from January 01, 2014 , Geo News reported. Sources said diesel prices are expected to be increased by Rs04 per litre, petrol by Rs2.50 per litre, kerosene oil by Rs04 per litre. They added that Oil and Gas Regulatory Authority (OGRA) would send the summery, seeking increase in POL prices to the ministry of petroleum soon. The rupee ended higher at 105.75 against the dollar on Friday, Geo News reported. The dollar, after a fall of 65 paisa ended at four-month low against rupee at 105.75 in the open market. Following the statement of Finance Minister Ishaq Dar about decrease in the value of the dollar, people have started to cash it as a result its value has come down. The government announced on Monday revival of electricity loadshedding for `about two hours’ per day throughout the country because of an increased gap between power generation and demand arising out of annual canal closure and diversion of gas to textile industry.
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