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May 27, 2009

Statistics
KSE 100 Index
Previous Index
7,173.57
Current Index
7,176.89
Change %
0.05%
YTD (CY09)
22.40%
YTD (FY09)
(41.60)%

International Indicates
 
Close
Percentage
BSE-30
13,589.23
(2.33)%
HANGSENG
16,991.56.
(0.76)%
NIKKEI 255
9,310.81
(0.39)%
FTSE
4,411.72.
1.10%
DJI
8,473.49
2.37%
SSEC
2,588.58
(0.82)%
NASDAQ
1,750.43
3.45%

S.C.R.A
25-05-2009
(0.02)
May-09
(2.16)
YTD
(578.96)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.70%
KIBOR (6 months)
13.75%
PIB (10 years)
12.56%

Exchange Rates
Rs/US
80.40
Rs/UK
127.78
Rs/EURO
112.43
Rs/OMAN RIYAL
209.98

commodities
Oil
$62.50/barrel
Oil Change in %
0.08%
Gold
$950.30/ounce
Gold Change in %
(0.50)%

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 16, 08)
Rs.3,953bn

Daily Returns and NAVs
as of May 26, 2009
 
Offer
Redemption
POBOP
50.8925/-
50.3836/-
Daily Return
12.37%
POASF
62.33/-
60.77/-
Daily Return
12.02%
POAIF
56.40/-
54.99/-
Daily Return
33.22%
POAIIF
55.5225/-
54.9673/-
Daily Return
19.72%
POAF
10.9101/-
Daily Return
(8.48)%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

FBR proposes Rs 1.405 trillion target for 2009-10
The Federal Board of Revenue (FBR) has proposed Rs 1405 billion revenue collection target for next fiscal year (2009-10) against the projected collection of Rs 1160-1170 billion for current fiscal year (2008-09). Revenue Division Secretary General Salman Saddique told the National Assembly Standing Committee on Finance here on Tuesday that the FBR still needs to collect Rs 280 billion in May-June 2009 to meet the revenue collection target for current fiscal year more... (BR)

Raise in WHT on cash withdrawal under study
The Federal Board of Revenue (FBR) is examining a proposal to raise withholding tax on cash withdrawal from banks in upcoming budget (2009-2010). It has been learnt here on Tuesday that the withholding tax on cash withdrawal at the rate of 0.1 percent was introduced through Finance Act, 2005 which is adjustable against final tax. Subsequently, the rate of deduction was enhanced to 0.2 percent in the year 2006 more... (BR)

Public private partnership: government planning to adopt Alaskan model, says Zardari
President Asif Ali Zardari has said that the key to Pakistan's economic development lay in trade and not in aid. He said this during briefing by the Advisory Panel of Economists of the Planning Commission at the Presidency on Tuesday more... (BR)

Supreme Court lifts election ban on Sharifs
The Supreme Court on Tuesday declared Pakistan Muslim League (N) chief Nawaz Sharif and his brother Shahbaz Sharif eligible to contest elections and lifted the ban on their holding elected office more... (BR)

Concerns over nuclear weapons' safety unfounded, US told
The country and its armed forces are committed to stem violent extremism, said General Tariq Majid, Chairman Joint Chiefs of Staff Committee (CJCSC), here on Tuesday more... (BR)

Nato asked to check Taliban's infiltration into PakistanChairman Senate calls on important Norwegian dignitaries
Chairman Senate, Farooq Naek, has asked the Nato to initiate effective measures for checking Taliban's infiltration into Pakistan through the Pak-Afghan Border. He expressed these views while participating in a discussion of the Spring Session of the Nato Parliamentary Assembly more... (FD)

sector Briefing

January 13 to March 31, 2009: NIT's SEF performed well with unrealised gain of Rs 3.427 million
The State Enterprise Fund (SEF), managed by National Investment Trust (NIT), performed well with unrealised gain of Rs 3.427 million during the period from January 13, 2009 to March 31, 2009. The Fund purchased shares of eight eligible scrips during this period at a total cost of Rs 8.701 million more... (BR)

Pacra downgrades Dewan Cement Limited's ratings
The Pakistan Credit Rating Agency (Pacra) has downgraded the ratings of Dewan Cement Limited (Entity ratings; long-term: CC; short-term: C, Proposed TFC of Rs 5,000 million: CC). These ratings denote that there is an inadequate capacity to ensure timely payment of financial commitments more... (BR)

Fair oil price is $75-80: Saudi king
Saudi Arabia's King Abdullah said in remarks published Tuesday a fair price for oil was between $75 and $80. "We still believe that a fair price is $75 and perhaps $80 a barrel, especially now," the king said in an interview with a Kuwaiti newspaper more... (FD)

 
(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