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June 15, 2009

Statistics
KSE 100 Index
Previous Index
7,091.96
Current Index
7,056.31
Change %
(0.50)%
YTD (CY09)
20.30%
YTD (FY09)
(42.60)%

International Indicates
 
Close
Percentage
BSE-30
15,237.94
(1.13)%
HANGSENG
18,889.86
0.52%
NIKKEI 255
10,135.82
1.55%
FTSE
4,442.00
(0.45)%
DJI
8,799.26
0.32%
SSEC
2,743.76
(1.91)%
NASDAQ
1,858.80
(0.19)%

S.C.R.A
12-06-2009
2.66
June-09
(2.54)
YTD
(588.02)

Money Market Updates
Tbill Cut-off
 
1 year
13.24%
6 month
13.14%
KIBOR (3 months)
12.98%
KIBOR (6 months)
13.05%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.95
Rs/UK
133.12
Rs/EURO
113.52
Rs/OMAN RIYAL
210.74

commodities
Oil
$72.04/barrel
Oil Change in %
(0.88)%
Gold
$940.70/ounce
Gold Change in %
(2.21)%

Inflation
CPI Gen. May 09(YOY)
14.40%
CPI Gen. (Jul-May 09)
21.60%
NFNE Core INFL May 09 (YOY)
16.60%
NFNE Core INFL (Jul-May 09)
17.70%

Economic Indicators
US$ Reserves (Billion)
11.51
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-May 09)
$(15.22)bn
Curr. A/C (Jul-Apr 09)
$(8.55)bn
Remittances (Jul-May 09)
$7.08bn
Foreign Investment (Jul-May 09)
$2.22bn
All Scheduled Banks Deposit Base (June 06, 08)
Rs.4,030bn

Daily Returns and NAVs
as of June 13, 2009
 
Offer
Redemption
POBOP
50.8551/-
50.3465/-
Daily Return
22.87%
POASF
-/-
-/-
Daily Return
-%
POAIF
-/-
-/-
Daily Return
-%
POAIIF
55.7219/-
55.1647/-
Daily Return
13.17%
POAF
10.9990/-
Daily Return
2,238.77%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

$4 billion IMF aid to be sought if FoDP's pledges delayed
The Advisor to Prime Minister on Finance, Shaukat Tarin, said on Sunday that in case of any delay in receipts of pledges from Friends of Democratic Pakistan (FODP) Pakistan has lined up commitment of $4 billion from the International Monetary Fund (IMF) more... (BR)

Tarin eyes 6pc inflation in 2011-12
He said inflation had hit 25 pc in October 2008 but government efforts brought it down to 14.14 pc in May this year more... (D)

ST rate to be brought down to single digit in five years: Tarin
The Advisor to Prime Minister on Finance, Shaukat Tarin, has said that the rate of 16 percent sales tax is very high, which would be brought down to a single digit--in the next 4-5 years. During the post-budget press conference held at the Planning Commission here on Sunday, he said that the government would try to reduce sales tax rate during next fiscal year more... (BR)

Government orders offensive against Mehsud
NWFP governor Owais Ahmad Ghani Sunday said the government has decided to carry out operation against militants in the tribal areas. Addressing a press conference here at the Frontier House, the governor announced the launching of operation against disbanded Tehreek-e-Taliban Pakistan (TTP) led by Baitullah Mehsud more... (BR)

Pakistan showing considerable resolve: Gen Petraeus
I think, at this point, the Pakistanis see very clearly the existential threat that is posed by the extremists, say US General more... (D)

Russia welcomes new US Afghan policy
Russia welcomes "increasingly transparent" US policy on Afghanistan and Pakistan and sees new areas of co-operation with the West in settling the Afghan conflict, the Kremlin's senior foreign policy adviser said on Sunday. Afghanistan is expected to become a major topic at a summit of the Shanghai Co-operation Organisation (SCO) in the Urals city of Yekaterinburg on Monday more... (BR)

sector Briefing

PSO tells power generation companies it can't import LSFO
Pakistan State Oil (PSO), the state owned fuel supplier, has conveyed to power generation companies that due to the current financial crunch owing to the accumulating circular debts it is unable to continue to tender for importing Low Supphar Furnace Oil (LSFO), official sources told Business Recorder. According to latest reports, PSO is owed Rs 80 billion by financially ill power generation companies more... (BR)

No double tax on shares trading: Finance Division
Finance Division has said that there would be no double taxation on trading of shares on stock exchanges from 2009-10. A statement of the Finance Division said that there is some confusion regarding tax on services of stock exchanges, as announced in the Finance Bill, 2009 more... (BR)

Bailout package for textiles missing in new budget proposals
Academically, the harvesting of new crop (2009-10 season) cotton has commenced in tail-end areas of lower Sindh and truck-load deliveries of seed-cotton from Badin district of Sindh have started reaching ginneries at Shahdadpur-and Sahiwal stations of Sindh and Punjab provinces respectively. Cotton in early sown areas of central Punjab is also reaching maturity stage and its harvesting may start this month 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