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October 24, 2008 

Statistics
KSE 100 Index
Previous. Index
9,183.74
Current Index
9,182.88
Change %
(0.03)%
YTD ( CY' 08)
(34.76)%
YTD ( FY' 09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
9,771.70
(3.92)%
HANGSENG
13,760.49
(3.60)%
NIKKEI 255
8,460.98
(2.50)%
FTSE
4,087.83
1.16%
DJI
8,691.25
2.02%
SSEC
1,895.82
(3.20)%
NASDAQ
1,239.16
0.16%

S.C.R.A
22-10-2008
(2.79)
October
(18.96)
YTD
(246.25)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR ( 3 months)
14.30%
KIBOR ( 6 months)
14.61%
PIB (10 years)
14.55%

Exchange Rates
Rs/US
81.80
RS/UK
130.45
RS/EURO
103.88
RS/OMAN RIYAL
217.68

commodities
Oil
$66.96/barrel
Oil Change in %
0.86%
Gold
$708.50/ounce
Gold Change in %
(2.30)%

Inflation
CPI (YOY)
25.3%
CPI (Jul-Aug)
24.8%
CORE INFTN (YOY)
16.4%
CORE INFTN (Jul-Aug)
15.5%

Economic Indicators
$US Reserves (Billion)
7.32
GDP Growth FY 09E
5.8%
Per Capita Income
$1085
Population
164.66mn
Trade Deficit
$(5.55)bn
Curr. A/C (Jul'08-Aug'08)
$(3.95)bn
Remittances
$1.88bn
Foreign Investment
$0.94 bn
Bank Deposits
(Sept 20, 08)
Rs.3,767. bn

International Indicates
 
Offer
Redemption
POBOP
52.61/-
52.09/-
Return YTD
11.64%
 
NAV
POAF
10.57
Retun YTD
11.30%

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

Economy

Assistance from IMF: formal request to be made only after November 15: Tarin
Advisor to Prime Minister on Finance, Shaukat Tarin on Thursday categorically stated that Pakistan has not yet formally asked the International Monetary Fund (IMF) for a loan facility; however the ongoing meeting between the Fund and senior Pakistani officials in Dubai would pave the way for assistance in case Pakistan is unable to access assistance from multilateral donors and Friends of Pakistan more... (BR)

Broker members set condition
The removal of the floor on Karachi Stock Exchange looks unlikely as the broker members are opposed to its removal unless National Investment Trust confirms having received Rs 15 billion from other three government entities and has arranged Rs 5 billion cash for themselves more... (BR)

Cut in oil products prices: government mulling it over, Zardari tells traders
President Asif Ali Zardari has informed business community that the government is considering to substantially reducing oil prices in the country. Presiding over a meeting with a delegation of Karachi-based businessmen held in Islamabad on Thursday, the president said that the committee working under federal minister for Water and Power Raja Previaz Ashraf was prepping recommendations regarding reduction in power and gas tariffs more... (BR)

Pakistan's foreign exchange reserves fall by $426 million to $7.323 billion
The country's foreign exchange reserves further declined by 426 million dollars during last week due to rising trade deficit, huge foreign payments and slow inflows. The State Bank of Pakistan on Thursday said that the country's foreign exchange reserves declined to 7.3233 billion dollars during the week ended October 18, from 7.7497 billion dollars a week earlier, depicting a decline of 426.4 million dollars more... (BR)

 

Gilani, Manmohan due to meet in Beijing today
Prime Minister Yousuf Raza Gilani and his Indian counterpart Manmohan Singh are scheduled to meet here on Friday on the sidelines of Asia-Europe Meeting (ASEM7) summit. This will be an important informal interaction between the two south more... (BR)

Last govt misused remittances, says Zardari
President Asif Ali Zardari criticised on Thursday economic policies of the previous government and said that foreign remittances worth billions of rupees had been misused over the past several years more... (D)

 
sector Briefing

PSO clarification
Apropos a news item 'Government in the Dock Over Power Crisis', carried by "Business Recorder" on October 22,Pakistan State Oil has clarified that the government has released Rs 8.342 billion to PSO instead of Rs 15 billion as reported in the news item. After the release of 8.342 billion by the government, the total PDC outstanding is now at Rs 11.8 billion more... (BR)

Abraaj Capital to invest $1.2bn in KESC within 2-3yrs $361mn injection next week: CEO KESC
Abraaj Capital has announced to spend $1.2 billion on the uplift of Karachi Electric Supply Corporation (KESC) within next two to three years, out of which $361 million would be injected next week while another $800 million in two to three years more... (FD)

Abraaj Group control of KESC illegal
A senior office-bearer of Shareholder' Association of KESC has alleged that the new management of KESC, Abraaj Group, which has indirect transaction of share in the public utility, has no legal right to take control of the Company more... (BR)

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

Shayan Hasan
Analyst
Zhoaib Kabani
Technical Analyst
Salman Kazmi
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