Karachi: Pakistan's Karachi Stock Exchange 100 index rose 204.88 or 2.2 per cent to 9,499.06, the most in five months.
Karachi Electric Supply Co, which supplies power to Pakistan's biggest city, rose 4.8 per cent to Rs2.39, the most in seven weeks, after a report the government will increase power tariffs by 6 per cent with retrospective effect from April.
Electricity price
Shares rose on the news, said Naureen Moin Khan, a trader at Invest Capital Securities Ltd in Karachi.
Finance Adviser Abdul Hafeez Shaikh said Wednesday the government will raise the price of electricity in the June 5 budget.
Lucky Cement Ltd, the biggest cement maker, rose 4.3 per cent to Rs61.83, the most in four months, on estimates the government won't raise the tax rate.
