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June 09, 2009

Statistics
KSE 100 Index
Previous Index
6,894.62
Current Index
6,892.00
Change %
(0.04)%
YTD (CY09)
17.50%
YTD (FY09)
(43.90)%

International Indicates
 
Close
Percentage
BSE-30
14,665.92
(2.90)%
HANGSENG
18,253.39
(2.28)%
NIKKEI 255
9,865.63
1.00%
FTSE
4,405.22
(0.75)%
DJI
8,764.49
0.02%
SSEC
2,768.34
0.52%
NASDAQ
1,842.40
(0.38)%

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)
13.60%
KIBOR (6 months)
13.65%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.70
Rs/UK
128.70
Rs/EURO
112.93
Rs/OMAN RIYAL
210.66

commodities
Oil
$68.46/barrel
Oil Change in %
0.54%
Gold
$949.30/ounce
Gold Change in %
(0.34)%

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 08, 2009
 
Offer
Redemption
POBOP
50.7586/-
50.2510/-
Daily Return
(15.65)%
POASF
61.26/-
59.73/-
Daily Return
119.30%
POAIF
56.30/-
54.89/-
Daily Return
28.88%
POAIIF
55.6782/-
55.1214/-
Daily Return
5.65%
POAF
10.8993/-
Daily Return
9.01%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Finance asked to fast track review of PSDP funds
Prime Minister Yousuf Raza Gilani has called upon the Ministry of Finance to expedite review of PSDP funds so as to ensure their maximum utilisation for timely completion of development projects. He also noted delay in the release of funds earmarked for the ministries for various development projects and directed the Ministry of Finance to ensure timely release of funds so that development programmes may not suffer more... (BR)

Pakistan needs funding to finance C/A, fiscal deficits on sustainable basis
Donors in Pakistan have entered into a policy debate differing with one another on the points of view of achieving stabilisation on the one hand, and addressing exports growth, on the other, to face up to current account deficit problem that arises each time the GDP growth crosses 6-7 percent, say officials. One side of the argument is that the balance of payments crisis can not be addressed just by making exchange rate adjustment more... (BR)

Import of captive power plants: SBP allows financing under LTFF
The State Bank of Pakistan has allowed financing under Long Term Financing Facility (LTFF) Scheme for import of generators/captive power plants (including other allied machinery items used to generate electricity) in order to facilitate export-oriented industries to overcome problems arising out of prevailing electricity crisis more... (BR)

Zardari calls for unconditional talks with India
The president discussed regional issues with a Kashmiri academic and the energy sector with an oil and gas executive more... (D)

Karachi violence continues, PM calls high-level meeting
At least eight more people were killed in assassinations across the metropolis, including four MQM-Haqiqi activists more... (D)

Drone attacks undermining Pakistan's sovereignty: Ispahani
Media Advisor to PPP Co Chairman, President Asif Ali Zardari, Farahnaz Ispahani said government is actively engaged at diplomatic levels to discourage drone attacks that are undermining Pakistan's sovereignty and disturbing peace and tranquillity in the country more... (BR)

sector Briefing

Cement exports surpass 10 million tons mark
The country's cement exports have registered a healthy growth of 50 percent to reach all time high level of 10 million tons during eleven months of the current fiscal year 2008-09 on account of rising international demand, industry sources said more... (BR)

Orix Bank to merge with Orix Leasing
The Board of directors of Orix Leasing Pakistan Ltd (OLP) has resolved to recommend amalgamation of Orix Investment Bank Pakistan (OIB) with OLP. According to a communiqué despatched to Karachi Stock Exchange here Monday, the merger of OIB into OLP was in the best interest of OLP. The board proposed the swap ratio of 43:1, whereby one ordinary share of Rs 10 each of OLP will be allotted against 43 shares of OIB more... (BR)

Petroleum Development Levy to move to divisible pool
The government is planning to shift the revenue raised from petroleum development levy (PDL), which usually ranges around Rs100 billion, in the next budget (2009-10) into revenue budget making it part of the federal divisible pool, Dawn has learnt from highly-knowledgeable sources on Saturday 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