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June 19, 2009

Statistics
KSE 100 Index
Previous Index
7,075.93
Current Index
7,051.77
Change %
(0.34)%
YTD (CY09)
20.20%
YTD (FY09)
(42.60)%

International Indicates
 
Close
Percentage
BSE-30
14,265.53
(1.77)%
HANGSENG
17,776.66
(1.70)%
NIKKEI 255
9,703.72
(1.40)%
FTSE
4,280.86
0.06%
DJI
8,555.60
0.69%
SSEC
2,853.90
1.56%
NASDAQ
1,807.72
0.02%

S.C.R.A
17-06-2009
13.99
June-09
12.49
YTD
(572.98)

Money Market Updates
Tbill Cut-off
 
1 year
12.24%
6 month
12.43%
KIBOR (3 months)
12.93%
KIBOR (6 months)
12.92%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.85
Rs/UK
132.57
Rs/EURO
112.85
Rs/OMAN RIYAL
211.98

commodities
Oil
$71.65/barrel
Oil Change in %
0.39%
Gold
$935.20/ounce
Gold Change in %
0.06%

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)
11.64
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-May 09)
$(8.22)bn
Remittances (Jul-May 09)
$7.08bn
Foreign Investment (Jul-May 09)
$2.22bn
All Scheduled Banks Deposit Base (June 13, 08)
Rs.4,058bn

Daily Returns and NAVs
as of June 18, 2009
 
Offer
Redemption
POBOP
50.8586/-
50.3500/-
Daily Return
11.73%
POASF
62.13/-
60.58/-
Daily Return
(6.02)%
POAIF
56.73/-
55.31/-
Daily Return
39.64%
POAIIF
55.7782/-
55.2204/-
Daily Return
6.83%
POAF
11.0164/-
Daily Return
13.68%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

FX reserves surge to $11.64bn
Country's foreign exchange reserves have increased by $130 million to $11.64 billion in the week ended on June 13, State Bank of Pakistan (SBP) spokesman said Thursday. The SBP's reserves edged up to $8.30 billion from $8.20 billion a week earlier, while reserves held by commercial banks surged to $3.34 billion from the previous week's $3.31 billion, the spokesman added. He did not give any particular reason behind the rise in reserves. Foreign reserves hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6 billion by November last year, largely owing to a soaring import bill, before government agreed in November to an IMF emergency loan package of $7.6 billion to avert a balance of payments crisis and shore up reserves.-Agencies more... (FD)

JPMorgan says Pakistan best bond investment
Despite a continued sense of tension with India and open hostility along the Afghan border, the country's bond market is the best in the world, said JPMorgan Chase & Co. And, the stock market may be the next more... (FD)

No need to review privatisation of KESC: Naveed
Federal Minister for Privatisation and Investment Syed Naveed Qamar Thursday said that there was no need to review the privatisation of Karachi Electric Supply Company (KESC) rather the focus should be make on its improvement. Talking to a private television channel the Minister said that if there was some negative feedback of the privatised entities it doesn't mean that we should go back to nationalisation more... (BR)

Obama-backed nuclear fuel bank plan stalls at IAEA
A uranium fuel supply plan hailed by US President Barack Obama as a way to stem the spread of nuclear arms stalled in talks at the UN atomic watchdog on Thursday after resistance from developing nations. The International Atomic Energy Agency and industrialised nations argue that a multilateral uranium-enrichment centre would best meet growing global nuclear energy demand while dissuading nations from building proliferation-prone enrichment plants themselves more... (BR)

General Kayani spends busy day in Germany
General Ashfaq Parvez Kayani, Chief of Army Staff (CoAS) had an intense committed day in Germany. Busy day schedule started from visiting German Army Headquarters, says a press release issued by the ISPR here on Thursday more... (BR)

Pakistan not begging for dialogue with India: foreign office
Foreign Office Spokesman Abdul Basit said that Pakistan is not begging for dialogue with India but as a responsible country it seriously desires to resume composite dialogue process suspended after the Mumbai attacks to settle the regional issues more... (BR)

sector Briefing

Carbon tax on CNG withdrawn
The government on Thursday withdrew the decision of levying carbon surcharge on Compressed Natural Gas (CNG) by deleting the word "carbon" from the head of the levy. Now "surcharge" will be used for taxing petroleum products from the next financial year ie 2009-10 after severe drubbing from different quarters more... (BR)

Smooth supply of fuel: PSO asks Pepco to finalise FSA with Gencos
The financially-strapped Pakistan Electric Power Company (Pepco) has reportedly been asked by the Pakistan State Oil (PSO) to finalise the much awaited fuel supply agreement (FSA) for smooth supply of fuel to generation companies, sources in Petroleum Ministry told Business Recorder on Thursday more... (BR)

Senate panel asks government not to withdraw subsidy on electricity
Senate Standing Committee on Finance has recommended the government not to withdraw subsidy on electricity, as it would hit both the industry and common man. Sources told Business Recorder that the committee adopted 96 unanimous recommendations out of 360 forwarded by members for incorporation in the budget 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