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June 08, 2009

Statistics
KSE 100 Index
Previous Index
6,878.14
Current Index
6,894.62
Change %
0.24%
YTD (CY09)
17.60%
YTD (FY09)
(43.90)%

International Indicates
 
Close
Percentage
BSE-30
15,103.55
0.63%
HANGSENG
18,679.53
0.96%
NIKKEI 255
9,768.01
1.02%
FTSE
4,438.56
1.18%
DJI
8,763.13
0.15%
SSEC
2,753.89
(0.48)%
NASDAQ
1,849.42
(0.03)%

S.C.R.A
05-06-2009
1.92
June-09
2.79
YTD
(582.68)

Money Market Updates
Tbill Cut-off
 
1 year
13.24%
6 month
13.14%
KIBOR (3 months)
13.64%
KIBOR (6 months)
13.71%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.70
Rs/UK
128.95
Rs/EURO
112.73
Rs/OMAN RIYAL
210.51

commodities
Oil
$67.98/barrel
Oil Change in %
(0.67)%
Gold
$960.60/ounce
Gold Change in %
(0.21)%

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)
11.52
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 30, 08)
Rs.4,040bn

Daily Returns and NAVs
as of June 06, 2009
 
Offer
Redemption
POBOP
50.8060/-
50.2979/-
Daily Return
893.43%
POASF
-/-
-/-
Daily Return
-%
POAIF
-/-
-/-
Daily Return
-%
POAIIF
55.6614/-
55.1048/-
Daily Return
5.79%
POAF
10.8942/-
Daily Return
135.85%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Sales tax through provincial ordinances: 16 percent levy likely on wide range of services
The government may levy 16 percent sales tax in coming 2009-10 budget on services provided by port/terminal operators on import cargo handling; banking companies and non-banking financial companies; insurance companies and professional service providers like legal/medial practitioners and a wide range of consultants through Provincial Sales Tax Ordinances more... (BR)

New listing companies: SECP seeks reduced corporate tax rate
The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to apply reduced corporate tax rate on new listing of companies on stock exchanges in the 2009-10 budget. It is learnt that the SECP has proposed tax slabs for new listing of companies through amendment in the Schedule-I, Part I, Division II of Income Tax Ordinance, 2001 more... (BR)

Government warned against non-payment of IPPs' dues
The Private Power Infrastructure Board (PPIB) has warned the government to clear the outstanding receivables of independent power producers (IPPs) or face humiliation at every forum as the companies are threatening to call GoP guarantees, sources in PPIB told Business Recorder more...

Drone issue was raised in meetings: PM Gilani
The prime minister took exception on Monday to assertions by the US Special Representative that Pakistan leaders did not bring up the subject of drone attacks during meetings with him earlier this week more... (D)

Zardari to leave for Russia on June 14
President Asif Ali Zardari will be leaving on a two-day visit to Russia on June 14 for participation in the Shanghai Cooperation Organisation (SCO) summit in Yakaterinburg. On the sidelines of the summit, the President is expected to meet Presidents of Russia, China, Afghanistan and Turkmenistan more... (BR)

Villagers rise up against Taliban, kill 13
Villagers in Upper Dir have attacked Taliban militants killing thirteen of them in revenge for a bomb attack on a mosque that killed at least 40 people, a top government official and residents said on Sunday more... (BR)

sector Briefing

Qadirpur gas wellhead price: consensus reached at $3/MMBTU
The Petroleum Ministry and the Oil and Gas Development Company Limited (OGDC) have developed a consensus on $ 3 per million British Thermal Unit (MMBTU) maximum wellhead gas price of Qadirpur gas field. The $ 3 per MMBTU wellhead gas price is calculated at $ 400 per ton high sulphur furnace oil (HSFO), a maximum limit for wellhead gas price discount of Qadirpur gas field more... (BR)

POL products pricing by OMCs under study
The government is considering a proposal to circumvent any role of the government in fixing oil prices and, instead, to authorise the oil marketing companies (OMCs) to make automatic adjustment in oil prices in line with the global oil prices from the next fiscal year 2009-10. However, OMCs will follow the formula of oil pricing set by federal government more... (BR)

Gas price accord with Iran signed
The agreement has been signed in a third country because it is governed by French law, denying any advantage to Iran or Pakistan in case of any dispute,’ said the Adviser to Prime Minister on Petroleum, Dr Asim Hussain more... (D)

 
(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