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May 20, 2009

Statistics
KSE 100 Index
Previous Index
7,172.85
Current Index
7,067.85
Change %
(1.46)%
YTD (CY09)
20.50%
YTD (FY09)
(42.50)%

International Indicates
 
Close
Percentage
BSE-30
14,302.03
0.12%
HANGSENG
17,544.03.
3.10%
NIKKEI 255
9,290.29
2.80%
FTSE
4,482.25.
0.80%
DJI
8,474.85
(0.34)%
SSEC
2,652.78
0.28%
NASDAQ
1,734.54
0.13%

S.C.R.A
18-05-2009
(1.35)
May-09
(12.63)
YTD
(589.43)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.69%
KIBOR (6 months)
13.69%
PIB (10 years)
12.56%

Exchange Rates
Rs/US
81.00
Rs/UK
124.15
Rs/EURO
109.82
Rs/OMAN RIYAL
211.24

commodities
Oil
$60.44/barrel
Oil Change in %
0.57%
Gold
$926.40/ounce
Gold Change in %
(0.03)%

Inflation
CPI Gen. Apr 09(YOY)
17.19%
CPI Gen. (Jul-Apr 09)
22.35%
NFNE Core INFL Apr 09 (YOY)
17.70%
NFNE Core INFL (Jul-Apr 09)
17.80%

Economic Indicators
US$ Reserves (Billion)
11.11
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Apr 09)
$(14.16)bn
Curr. A/C (Jul-Apr 09)
$(8.55)bn
Remittances (Jul-Apr 09)
$5.36bn
Foreign Investment (Jul-Apr 09)
$2.21bn
All Scheduled Banks Deposit Base (May 09, 08)
Rs.3,938bn

Daily Returns and NAVs
as of May 19, 2009
 
Offer
Redemption
POBOP
50.7914/-
50.2835/-
Daily Return
8.94%
POASF
61.51/-
59.97/-
Daily Return
(259.85)%
POAIF
55.76/-
54.37/-
Daily Return
(193.65)%
POAIIF
55.3737/-
54.8200/-
Daily Return
12.88%
POAF
10.9174/-
Daily Return
12.60%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

IMF taken into confidence over cut in POL prices
The Finance Ministry has taken the International Monetary Fund (IMF) into confidence over the proposed reduction in oil prices that would reduce collection of petroleum development levy (PDL). According to sources, the government is also considering to replace PDL on petroleum products, with carbon tax, in the upcoming 2009-10 budget, sources told Business Recorder more...

Budget on June 6 or 13: outreach of microfinance services to three million borrowers by 2010 envisaged, says Tarin
Advisor to the Prime Minister on Finance Shaukat Tarin has said that Federal budget for the next financial year will be announced on June 6 or 13. He said this here on Tuesday while talking to reporters after attending the dissemination ceremony of World Bank report, "Bringing Finance to Pakistan Poor," a study on access to finance for the underserved and small enterprises." more... (BR)

World Bank will shortly approve around $1.9 billion for Pakistan:
$300 million to be disbursed immediately
The World Bank Country Director Yusupha Crookes on Tuesday said that the bank would shortly approve around $1.9 billion for Pakistan of which $300 million will be disbursed immediately. He said that $200 million was earmarked for the safety net to protect poor while $100 million for Higher Education Commission (HEC). This amount will be disbursed before June 30, he added more... (BR)

Clinton says mood has turned in Pakistan against Taliban:
$100 million aid announced for IDPs
US Secretary of State Hillary Clinton Tuesday said she sensed a "national mood change" against the Taliban in Pakistan, and heaped praise on a military offensive against extremists. "I am very encouraged by the comments the Prime Minister (Yousuf Raza Gilani) has made, that opposition leaders like former prime minister (Nawaz) Sharif have made," Clinton said as she announced a 100 million dollars in aid for Pakistanis displaced by the fighting more... (BR)

Location of all Pakistani nukes not known: CIA
CIA chief Leon Panetta also defended US drone strikes, saying that they minimised civilian casualties more... (D)

sector Briefing

IPI gas pipeline project: Pakistan and Iran may sign GSPA soon
Pakistan and Iran are expected to sign gas sales purchase agreement (GSPA) on Iran-Pakistan-India (IPI) gas pipeline project after conclusion of talks to be held in Tehran on May 23-25. According to the sources, a delegation, led by Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain, will leave for Iran on May 22 to hold talks on IPI gas pipeline project more... (BR)

Uch gas field lease: MoP seeking 10-year extension
The Ministry of Petroleum and Natural Resources is pushing the government for extension in Uch gas field development and production lease for a further 10 years, to 2036 from 2026, to ensure 160 MW gas supply to Uch-II 400 MW power project, official sources told Business Recorder more...

Placing price 'floor': CCP hearing in KSE, LSE appeals shortly
The Competition Commission of Pakistan (CCP) will soon hold another hearing on the appeal of KSE against its order over placing/fixing "price floor" on the securities traded on the stock exchange. Sources said that the CCP had raised a number of questions during the first hearing on Monday, and the KSE asked for time to submit response to the queries raised by the Appellate Bench, comprising CCP Chairman Khalid A Mirza and Ms Rahat Konain more... (BR)

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