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May 29, 2009

Statistics
KSE 100 Index
Previous Index
7,188.84
Current Index
7,288.13
Change %
1.38%
YTD (CY09)
24.30%
YTD (FY09)
(40.70)%

International Indicates
 
Close
Percentage
BSE-30
14,296.01
1.30%
HANGSENG
17,885.27
5.28%
NIKKEI 255
9,451.39
0.13%
FTSE
4,387.54
(0.65)%
DJI
8,403.80
1.25%
SSEC
2,632.93
1.71%
NASDAQ
1,751.79
1.20%

S.C.R.A
27-05-2009
(2.15)
May-09
(5.03)
YTD
(581.83)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.73%
KIBOR (6 months)
13.77%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.50
Rs/UK
128.07
Rs/EURO
111.25
Rs/OMAN RIYAL
210.68

commodities
Oil
$64.81/barrel
Oil Change in %
(0.41)%
Gold
$964.50/ounce
Gold Change in %
0.13%

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)
11.19
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 23, 08)
Rs.3,991bn

Daily Returns and NAVs
as of May 28, 2009
 
Offer
Redemption
POBOP
50.9396/-
50.4302/-
Daily Return
20.97%
POASF
62.39/-
60.83/-
Daily Return
108.33%
POAIF
56.40/-
54.99/-
Daily Return
39.87%
POAIIF
55.5436/-
54.9882/-
Daily Return
7.15%
POAF
10.9178/-
Daily Return
13.40%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Third IMF tranche delayed for a month
Pakistan is again going into a phase of trouble with the International Monetary Fund as its third tranche has been delayed for a month due to non-settlement of some key budget issues, says a source. Pakistan has to send its complete budget data by June 6 which has been delayed as some tax measures have not been completely delineated by Pakistan government, a government official confirmed requesting anonymity more... (BR)

Global crisis poses risk to Pakistan's economy: Fund
The global financial crisis and recession pose risk to Pakistan's economy with it growth, exports, remittances and capital inflow could decline further in the next fiscal year, according to the International Monetary Fund "Regional Economic Outlook: Middle East and Central Asia," released here on Thursday more... (BR)

Import duty may be raised by 2-3 percent
The government is planning to increase import duty from 2 percent to 3 percent in forthcoming budget to generate additional revenue to meet next fiscal year's target. Sources in the Regional Tax Office (RTO) told Business Recorder on Thursday that the Federal Board of Revenue has proposed to the ministry of finance one percent import duty increase on all imported items to achieve the revenue collection target for next fiscal year more... (BR)

Pakistan will not be terrorised: CoAS
The Chief of Army Staff (CoAS), General Ashfaq Parvez Kayani on Thursday visited training area at Lahore where he met the troops busy in rigorous military training. He appreciated the operational preparedness and training standards of the troops. CoAS was briefed in detail by the field commanders on training matters more... (BR)

'UK supports Pakistan in war against terror'
British High Commissioner Robert Brinkley, who called on Prime Minister Syed Yousuf Raza Gilani at PM House here Thursday, has stated that UK will wholeheartedly support Pakistan in its war against terrorism, and its efforts for relief and rehabilitation for dislocated people of Swat and other areas of Malakand Division more... (BR)

Obama taps congressman as envoy to India
US President Barack Obama on Wednesday named a veteran congressman as ambassador to India and a low-profile fund raiser as envoy to Japan amid crises over North Korea, Pakistan and Sri Lanka. Obama nominated a slew of ambassadors some four months into his presidency, with concerns growing among some diplomats about vacancies in key US embassies. His nominees still need Senate confirmation more... (BR)

sector Briefing

Four bidders interested in RBS assets in Pakistan: one left to bid for other Asian assets
Around four bidders are said to be interested in RBS assets in Pakistan while only one bidder is said to be left to bid for the planned sale of other Asian assets by the British Bank RBS, it is reliably learnt. HBL and MCB are expected to drop their bid envelopes on Friday, May 29th, while JS Bank has sought a few extra days to submit their bid. Egyptian Telecom Group Orascom has also reportedly shown interest in RBS (Pakistan) more... (BR)

SSGC puts KESC on notice for recovery of Rs 15 billion dues
Sui Southern Gas Company (SSGC) has given a notice to the Karachi Electric Supply Corporation (KESC) for payment of the outstanding Rs 15 billion against it, warning otherwise gas supply to the utility will be disconnected. Addressing members of Korangi Association of Trade and Industry on Thursday, Managing Director SSGC, Umair Khan said that outstanding dues against KESC swelled to Rs 15 billion from Rs 8 billion in last couple of months, yet it was making no payment more... (BR)

Power sector: exemption of duty, tariff concession to continue
The Federal Board of Revenue (FBR) has decided to continue with the exemption of customs duty and tariff concessions available to power sector in the coming budget (2009-2010). Sources told Business Recorder on Thursday that the concessionary rates of duty and tax incentives are available to the power sector under SRO 575(I)/06 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