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February 18, 2009

Statistics
KSE 100 Index
Previous Index
5,776.73
Current Index
5,839.63
Change %
1.09%
YTD (CY09)
(0.40)%
YTD (FY09)
(52.50)%

International Indicates
 
Close
Percentage
BSE-30
9,035.00
(2.91)%
HANGSENG
12,945.40
(3.79)%
NIKKEI 255
7,645.51
(1.35)%
FTSE
4,034.13
(2.43)%
DJI
7,552.60
(3.79)%
SSEC
2,319.44
(2.93)%
NASDAQ
1,470.66
(4.15)%

S.C.R.A
16-02-2009
1.10
February 09
(45.30)
YTD
(495.40)

Money Market Updates
Tbill Cut-off
 
1 year
14.21%
6 month
14.01%
KIBOR (3 months)
13.95%
KIBOR (6 months)
14.26%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.80
Rs/UK
113.36
Rs/EURO
100.90
Rs/OMAN RIYAL
208.52

commodities
Oil
$34.80/barrel
Oil Change in %
(0.37)%
Gold
$969.60/ounce
Gold Change in %
0.22%

Inflation
CPI Gen. Jan 09(YOY)
20.50%
CPI Gen. (Jul-Jan 09)
23.85%
NFNE Core INFL Jan 09 (YOY)
18.90%
NFNE Core INFL (Jul-Jan 09)
17.60%

Economic Indicators
US$ Reserves (Billion)
10.16
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Dec 08)
$(9.56)bn
Curr. A/C (Jul-Dec 08)
$(7.27)bn
Remittances (Jul-Dec 08)
$3.64bn
Foreign Investment (Jul-Dec 08)
$2.14bn
All Scheduled Banks Deposit Base (Feb 07, 08)
Rs.3,847bn

Daily Returns and NAVs
as of Feb 17, 2009
 
Offer
Redemption
POBOP
48.0425/-
47.5621/-
Daily Return
123.19%
POASF
54.54 /-
53.18 /-
Daily Return
20.60%
POAIF
53.21 /-
51.88 /-
Daily Return
35.21%
POAIIF
53.5177/-
52.9825/-
Daily Return
91.99%
POAF
9.8738/-
Daily Return
19.86%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

21 SOEs to be offered for sale: new privatisation policy approved by CcoP
The Cabinet Committee on Privatisation (CCoP) here on Tuesday approved the new privatisation policy besides approving privatisation of 21 State Owned Enterprises (SOEs). Addressing a press conference after the CCoP meeting, Federal Minister for Privatisation, Syed Naveed Qamar said that the new privatisation policy has been modelled around the concept of Public-Private Partnership and divestment of 26 percent shares of the SOEs more... (BR)

Current account deficit narrows in January
The country's current account deficit reduced by 25 percent during January 2009 due to the rise in services exports and decline in global commodity prices. State Bank of Pakistan statistics on Tuesday showed that current account deficit reduced to $411 million in January 2009 against $551 million in December 2008, depicting a decline of $140 million in a single month more... (BR)

July-December repayment stands at $1.8 billion
Pakistan has made $1.8 billion loan repayment to international financiers and countries during the first six months (July-December) of current fiscal year, Sources told Business Recorder that Pakistan makes repayment to international financiers and countries twice in a year and the government made repayment of $1.8 billion loan during the first six months of 2008-09 more... (BR)

Pakistan deal with militants a concern: Nato
Nato expressed concern on Tuesday after Pakistan signed a pact with Islamists to introduce Islamic law in Swat valley to try to take the steam out of a Taliban uprising there. "We would all be concerned by a situation in which extremists would have safe haven," Nato spokesman James Appathurai told a news briefing more... (BR)

US should address Pakistan's security concerns through South Asian diplomacy
The United States should dedicate robust economic assistance for uplift of Pakistan's people along the Afghan border and also help resolve Pakistan's security concerns by engaging Islamabad and New Delhi as part of a regional solution to the Afghanistan conflict, a new study by a Washington think-tank said on Tuesday more... (BR)

PPP gives show cause notice to Aitzaz
The Pakistan People’s Party on Tuesday suspended the central executive committee membership of Barrister Aitzaz Ahsan and Senator Safdar Abbasi for issuing ‘harsh’ statements against its leadership more... (D)

sector Briefing

Circular debt clearance: Rs 98 billion TFCs to be floated by month-end
The government has decided to float term finance certificates (TFCs) of Rs 98 billion to resolve the outstanding circular debt issue. The TFCs will be available on kibor plus margin of 1.75 percent. Under the Securities and Exchange Commission of Pakistan (SECP) regulations, the 'Term Finance Certificate' is a debt instrument issued for the purpose of raising funds as redeemable capital more... (BR)

Automobiles' price spike lacks logic, say officials
Officials at the Ministry of Industry and Production have said that there is no logical reason for raising automobiles prices, reported local media. The government will take a serious notice in this regard, they added more... (FD)

Clarification "Deemed duty may be replaced with oil processing fee"
Apropos a news item "Deemed duty may be replaced with oil processing fee", carried by Business Recorder on February 14, 2009, Bosicor Pakistan Limited (BPL) said the news reported has incorrect references. BPL will like to clarify that it has not disagreed on the US $4-6/barrel of crude oil as refining margins. Nor is there a working that this type of refining Margins will allow any substantial earning for the Company more... (BR)

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

Shayan Hasan
Sernior Analyst
Imran Altaf
Analyst
Faiz Malik
Database Manager
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