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  June 12, 2008 

Statistics
KSE 100 Index
Previous. Index
12,878.04
Current Index
13,016.38
Change %
(1.07)%
YTD ( CY' 08)
(7.53)%
YTD ( FY' 08)
(5.47)%

International Indicates
 
Close
Percentage
BSE-30
15,185.32
1.99%
HANGSENG
23,327.60
(0.21)%
NIKKEI 255
14,183.48
1.16%
FTSE
5,723.30
(1.78)%
DJI
12,083.77
(1.68)%
TSX
14,960.76
(0.05)%
KLSE
1,230.98
(0.13)%

S.C.R.A
08-06-2008
9.86
June
(25.01)
YTD
(110.44)

Money Market Updates
Tbill Cut-off
 
1 year
11.39%
6 month
11.19%
KIBOR ( 6 months)
12.96%
PIB (10 years)
12.53%

Exchange Rates
Rs/US
67.34
RS/UK
131.83
RS/EURO
104.38
RS/OMAN RIYAL
175.39

commodities
Oil
$133.87/barrel
Oil Change in %
(2.53)%
Gold
$893.80/ounce
Gold Change in %
(0.81)%

Inflation
CPI (YOY)
19.3%
CPI (July-May)
11.1%
CORE INFTN (YOY)
12.3%
CORE INFTN (July-May)
7.9%

Economic Indicators
$US Reserves (Billion)
11.17
GDP Growth FY 08E
5.7%
Per Capita Income
$1085
Population
163.52mn
Trade Deficit
$(18.75)bn
Curr. A/C (Jul'07-Jan'08)
$(11.58)bn
Remittances
$5.32bn
Foreign Investment
$3.60 bn
Bank Deposits
(Jan, 19,08)
Rs.3,628. bn

Economy


Rs2tr budget: grappling with a faltering economy •Subsidies cut on wheat, oil and electricity •20pc raise in govt employees salary •Poor to get Rs1,000 per month
Facing daunting political challenges and an economic slowdown, the PPP-led coalition government on Wednesday presented a Rs2.01 trillion national budget that at once offers relief measures to the more... (D)

Taxes to raise additional Rs77bn; GST up to 16 pc
Taxes proposed to be levied in the budget for 2008-09 are expected to raise an additional revenue of about Rs77 billion more... (D)

Duty on 300 non-essential items raised
The Federal Board of Revenue (FBR) has raised customs duty on import of around 300 non-essential and luxury items in 15 percent, 20 percent and 25 percent slabs of import duty to higher slabs of 30 percent and 35 percent respectively more... (BR)

 


PM assails air strike; protest lodged with US
Prime Minister Syed Yousuf Raza Gilani interrupted the presentation of the new budget in the National Assembly on Wednesday to condemn a deadly air strike in Pakistan’s Mohmand more... (BR)

Strength of Supreme Court judges increased to 29
The government took a controversial path on Wednesday to partly deal with the burning issue of deposed judges, using the new budget to increase the Supreme Court’s strength to 29 judges from 16 more... (D)

'Only Pakistani forces to take action against terrorists'
Pakistan has said only its forces will take action against any terrorist elements on its side of the Afghan border with its top diplomat in Washington defending the new anti-terrorism approach in tribal areas as being different from previous attempts more... (BR)


 
sector Briefing

Businessmen term budget as pro-agriculture
The business community has appreciated the federal budget 2008-09 and termed it as pro-agriculture and pro-manufacturers. However, it asked the government that all the raw materials, not being produced locally, should be declared duty free for at least one year to help reduce input cost and enhance the country's export more... (BR)

Rs 549.7 billion set aside for PSDP
The budget for fiscal year 2008-09 envisages an allocation for Public Sector Development Programme (PSDP) which is higher than that proposed in the Annual Development Plan as prepared by the Planning Commission. This dichotomy is unprecedented and is surprising given the severe resource constraints that the country is operating within more... (BR)

Govt to borrow from public
The government’s plan to borrow directly from public by launching security papers and increasing return on National Saving Scheme by 2 per cent will hit hard the entire banking sector more... (D)


(D): Dawn (BR): Business Recorder
seprator
Research Team:
Shoaib Ali Khan
Department Head

  Zhoaib Kabani
Technical Analyst
Shayan Hasan
Analyst
Ayub Khuhro
Analyst
Seprator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon.  Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission