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  July 14, 2008 

Statistics
KSE 100 Index
Previous. Index
11,773.12
Current Index
11,695.82
Change %
(0.65)%
YTD ( CY' 08)
(16.91)%
YTD ( FY' 08)
(15.06)%

International Indicates
 
Close
Percentage
BSE-30
13,469.85
(3.28)%
HANGSENG
22,184.55
1.16%
NIKKEI 255
13,039.69
(0.21)%
FTSE
5,261.60
(2.69)%
DJI
11,100.54
(1.14)%
TSX
13,709.10
(0.25)%
KLSE
1,150.39
1.31%

S.C.R.A
11-07-2008
(10.06)
July
(39.07)
YTD
(39.07)

Money Market Updates
Tbill Cut-off
 
1 year
11.78%
6 month
11.47%
KIBOR ( 3 months)
13.91%
KIBOR ( 6 months)
14.12%
PIB (10 years)
13.89%

Exchange Rates
Rs/US
70.30
RS/UK
138.24
RS/EURO
110.67
RS/OMAN RIYAL
180.67

commodities
Oil
$144.33/barrel
Oil Change in %
1.79%
Gold
$966.10/ounce
Gold Change in %
2.36%

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

Economic Indicators
$US Reserves (Billion)
11.12
GDP Growth FY 08E
5.8%
Per Capita Income
$1085
Population
163.74mn
Trade Deficit
$(20.74)bn
Curr. A/C (Jul'07-Jan'08)
$(12.95)bn
Remittances
$5.90bn
Foreign Investment
$3.94 bn
Bank Deposits
(Jun, 14,08)
Rs.3,699 bn

International Indicates
 
Offer
Redemption
POBOP
50.95/-
50.44/-
Return YTD
N/A
 
NAV
POAF
11.17
Retun YTD
10.83%

Inflation
AMC Ratings
AM3+
POBOPAPF
Fund Stablility Rating
A(f)
POAF Fund Rating
AA-

Economy

Industries on verge of destruction
The textile, spinning, weaving, and sizing industries have reached on the verge of destruction after the announcement of tariffs of gas and electricity by the government. Different industries in southern Punjab have been closed after the increase in the ratio of mark up, 10 percent withholding tax on electricity bills of more than Rs 20,000 and one percent increase in GST more... (BR)

2200 megawatts addition to national grid: government unlikely to meet promise by April 2009
The government is unlikely to meet its promise regarding the addition of 2200 MW to the transmission system by April 2009 in an effort to meet the energy crisis. This promise was repeatedly made by Prime Minister Syed Yousuf Raza Gilani and the water and power minister on the floor of the National Assembly more... (BR)

Rupee value: IMF suggests market-based approach
The International Monetary Fund (IMF) has suggested to the government of Pakistan to let market forces decide the rupee value to avoid further erosion of its forex reserves. Sources said the issue of the rupee value is under debate at different levels more... (BR)

Gilani contacts leaders of main coalition parties: Cabinet expansion
Prime Minister Yousuf Raza Gilani held consultations with coalition partners for expanding his cabinet, election of chairmen of standing committees and appointment of parliamentary secretaries more... (D)

Blaming Baitullah for Benazir murder premature: Qureshi
Foreign Minister Shah Mahmood Qureshi has questioned the guilt of a key Taliban suspect fingered by the CIA and Pakistan’s previous government in Benazir Bhutto’s assassination, suggesting a wider conspiracy was behind her death more... (D)

PML-Q blasts govt decision to seek UN probe
The Pakistan Muslim League-Q on Sunday severely criticised the PPP-led coalition government’s decision to seek UN investigation into Ms Benazir Bhutto’s assassination and said the move showed incompetence more... (D)

 
sector Briefing

Total, Shell almost on the brink of breakdown: Profit margin freezing, diesel shortage weigh
The government has been warned by the Oil Marketing Companies that the country could experience worst diesel shortage because of their inability to come up with the future investments and the looming danger of closing down operations after their profit margin is frozen more... (FD)

Engro may book inventory gains around Rs228mn
The DAP price has been stable in the international market during the last three weeks and has ranged around $1160-$1170 per tonne (equivalent to Rs4,101-Rs4,136 per 50kg bag), The Financial Daily learnt. The current retail price of DAP in Pakistan is aroundRs3,100 per bag. The prices are expected to rise in the current quarter since the prices of sulphur and phosphate rock are increasing. The demand of DAP slowed down in the 5M-CY08 because of high DAP prices, which helped the urea sales more... (FD)

Telecoms hit as higher GSTdamps mobile use
The increase in federal excise duty on telecommunication services from 15 per cent to 21 per cent has adversely affected the usage of mobile phones and has resulted in reduction of service usage by 8 per cent to 9 per cent within few weeks of the current fiscal year more... (FD)

FBR to oppose withdrawal of 20 percent FED on cement
The Federal Board of Revenue (FBR) will oppose any move to withdraw 20 percent increase in Federal Excise Duty (FED) on cement due to estimated revenue loss of Rs 2 billion during 2008-09. Sources told Business Recorder on Saturday that the rate of FED on cement was rationalised from Rs 750 per ton to Rs 900 per ton in Budget 2008-09 on account of indexation for inflation more... (BR)

(D): Dawn (BR): Business Recorder (FD): The Financial Daily
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