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  June 09, 2008 

Statistics
KSE 100 Index
Previous. Index
13,053.99
Current Index
13,134.56
Change %
0.61%
YTD ( CY' 08)
(6.69)%
YTD ( FY' 08)
(4.61)%

International Indicates
 
Close
Percentage
BSE-30
15,572.81
(1.25)%
HANGSENG
24,402.18
0.61%
NIKKEI 255
14,489.44
1.03%
FTSE
5,906.80
(1.50)%
DJI
12,209.81
(3.13)%
TSX
14,969.55
(0.09)%
KLSE
1,248.57
(2.04)%

S.C.R.A
06-06-2008
(6.76)
June
(27.37)
YTD
(112.80)

Money Market Updates
Tbill Cut-off
 
1 year
11.39%
6 month
11.19%
KIBOR ( 6 months)
12.98%
PIB (10 years)
12.62%

Exchange Rates
Rs/US
67.67
RS/UK
133.39
RS/EURO
106.81
RS/OMAN RIYAL
176.39

commodities
Oil
$137.74/barrel
Oil Change in %
(0.58)%
Gold
$903.80/ounce
Gold Change in %
0.50%

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)
11.17
GDP Growth FY 08E
5.7%
Per Capita Income
$925
Population
163.49mn
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

5.5 percent GDP growth for 2008-09 not realistic
The National Economic Council (NEC) has fixed exaggerated GDP growth target at 5.5 percent for 2008-09, basically for boosting the nation's moral up in the ongoing political turmoil and imminent economic slowdown more... (BR)

Saudi Arabia to help improve oil reserves: Asif
PPP co-chairman Asif Ali Zardari said on Sunday that Saudi Arabia would help Pakistan improve its strategic oil reserves and consider a request for special oil facility more... (D)

Raise in workers' minimum wage and pension: five labour laws to be amended in budget
The government would issue Labour Laws (Amendment Bill 2008) in Budget 2008-09 to increase the minimum wage of the workers from Rs 4,600 to Rs 6,000 per month; minimum pension raise from Rs 1,500 to Rs 2,000; reduction in contribution payable by employers from 6 to 5 percent of the wages and withdrawal of exemption to the banks and banking companies vis-à-vis employers old-age benefits contributions more... (BR)

 


PML-N prepares chargesheet against Musharraf
The Pakistan Muslim League-N has formulated a 10-point chargesheet for a resolution to impeach President Pervez Musharraf and hopes that its coalition partners will move it if Gen (retd) Musharraf does not resign more... (D)

Shahbaz against talks with Musharraf
No one can work with President Pervez Musharraf because he is an unconstitutional head of state, according to PML-N president Shahbaz Sharif, who became the Chief Minister of Punjab for a second time in eight years more... (D)

Long march schedule announced
Lawyers will start their long march from the mausoleum of Quaid-i-Azam in Karachi on Monday, according to president of the Supreme Court Bar Association Aitzaz Ahsan more... (D)

 
sector Briefing

MoC for changes in PCT to check steel prices hike
The Ministry of Commerce has asked the Federal Board of Revenue (FBR) to incorporate comprehensive changes in the Pakistan Customs Tariff (PCT) in the 2008-09 budget to check rise in steel prices, particularly facilitating the engineering sector of Pakistan more... (BR)

Cotton output may fall by 30-40 percent
The cotton sowing area has decreased at least 30 percent and production would likely to fall in the coming year by 30 to 40 percent, it is learnt here on Sunday. The stakeholders of the sector said the sowing has fallen short around 30 percent because of multiple factors more... (BR)

Duty on PSF import unacceptable: Aptma
All Pakistan Textile Mills Association (Aptma), Punjab zone, President Akbar Sheikh has urged the government to keep its promises of not levying import duty on raw materials for export-oriented textile industries, which employ four million workers and constitutes 65 percent of the country's total export 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