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  June 02, 2008 

Statistics
KSE 100 Index
Previous. Index
12,235.05
Current Index
12,130.51
Change %
(0.86)%
YTD ( CY' 08)
(13.83)%
YTD ( FY' 08)
(11.14)%

International Indicates
 
Close
Percentage
BSE-30
16,415.57
0.61%
HANGSENG
24,533.12
0.61%
NIKKEI 255
14,338.54
1.52%
FTSE
6,053.50
(0.24)%
DJI
12,638.32
(0.06)%
TSX
14,714.73
0.93%
KLSE
1,276.10
1.18%

S.C.R.A
30-05-2008
(11.899)
May
(193.33)
YTD (July-Date)
(84.216)

Money Market Updates
Tbill Cut-off
 
1 year
10.32%
6 month
9.89%
KIBOR ( 6 months)
13.07%
PIB (10 years)
12.34%

Exchange Rates
Rs/US
66.37
RS/UK
132.29
RS/EURO
103.21
RS/OMAN RIYAL
171.77

commodities
Oil
$127.35/barrel
Oil Change in %
0.75%
Gold
$891.50/ounce
Gold Change in %
1.13%

Inflation
CPI (YOY)
17.2%
CPI (July-Apr)
10.3%
CORE INFTN (YOY)
10.8%
CORE INFTN (July-Apr)
7.5%

Economic Indicators
$US Reserves (Billion)
11.51
GDP Growth FY 08E
5.7%
Per Capita Income
$925
Population
163.43mn
Trade Deficit
$(16.80)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

NEC may approve 20 percent raise in government employees salaries: revenue collection target to be set at Rs 1.25 trillion
The National Economic Council (NEC) is going to approve 20 percent increase in the government employees' salaries, besides setting an ambitious revenue collection target of Rs 1.25 trillion for 2008-09, against revised figure of Rs 990 billion for the Federal Bureau of Revenue (FBR) in its meeting scheduled here for Monday more... (BR)

National Assembly budget session today
The fifth National Assembly session of PPP-led coalition government will start here from June 2 at the National Assembly. The budget for the next fiscal year would be presented on June 7. Under the rules, no other business can be transacted during the budget session. This will be the first budget of the coalition government, which has inherited economy in a bad shape more... (BR)

GDP is expected to drop below six percent for the first time in five years
All key macroeconomic indicators have presented a poor performance during the current fiscal year, mainly due to a combination of adverse domestic and international developments and low output of commodity producing sectors more... (BR)


Selective indemnity proposed in expanded PPP package
Pakistan people’s Party’s constitution amendment package contains insertion of Article 270AAA to give indemnity to certain actions of President Pervez Musharraf, including ordinances issued between July 12 and more... (D)

EC declares Sharif brothers qualified to contest polls
The Election Commission on Sunday declared PML-N leaders Nawaz Sharif and Shahbaz Sharif qualified to contest the by-elections more... (D)


Sheikh Rashid quits PML-Q, forms Awami Muslim League
Former federal minister Sheikh Rashid Ahmed has finally parted ways with the Pakistan Muslim League-Q and set up his own party after withdrawing his candidature for the by-election for National Assembly’s NA-55 seat more... (D)

 
sector Briefing

CFS investment sees 29.6 percent decline
Investment under Continuous Funding System (CFS) witnessed a massive decline of 29.6 percent to Rs 31.3 billion last week as compared to Rs 48.6 billion a week earlier. more... (BR)

THE RUPEE: sharp recovery versus dollar
Thanks to the expectations of inflows from some friendly countries, the rupee was able to recover handsome gains in relation to dollar in both open and interbank markets during the week ended on May 31, 2008. In the interbank, the rupee rose by 170 paisa against dollar for buying to 66.30 and 160 paisa for selling at 66.50 more... (BR)


Pak-Oman Micro Bank to give loans
Dr Azhar has said that Islamic Development Bank Jeddah, Pak-Oman Micro Finance Bank and Smeda are working jointly for the marketing and to increase the exports of the products of Multan Cottage Industry to 57 Islamic countries more... (BR)


(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