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June 23, 2009

Statistics
KSE 100 Index
Previous Index
7,039.73
Current Index
7,057.26
Change %
0.25%
YTD (CY09)
20.30%
YTD (FY09)
(42.60)%

International Indicates
 
Close
Percentage
BSE-30
14,326.22
(1.35)%
HANGSENG
18,059.55
0.77%
NIKKEI 255
9,826.27
0.41%
FTSE
4,234.05
(2.57)%
DJI
8,339.01
(2.35)%
SSEC
2,896.30
0.55%
NASDAQ
1,766.19
(3.35)%

S.C.R.A
19-06-2009
(4.04)
June-09
(7.92)
YTD
(593.39))

Money Market Updates
Tbill Cut-off
 
1 year
12.24%
6 month
12.43%
KIBOR (3 months)
12.86%
KIBOR (6 months)
12.87%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
81.10
Rs/UK
133.54
Rs/EURO
112.82
Rs/OMAN RIYAL
211.43

commodities
Oil
$66.71/barrel
Oil Change in %
(1.17)%
Gold
$916.20/ounce
Gold Change in %
(0.52)%

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 22, 2009
 
Offer
Redemption
POBOP
51.0154/-
50.5052/-
Daily Return
43.79%
POASF
61.86/-
60.31/-
Daily Return
(28.18)%
POAIF
56.68/-
55.26/-
Daily Return
6.61%
POAIIF
55.7899/-
55.2320/-
Daily Return
(2.77)%
POAF
10.9078/-
Daily Return
(5.43)%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Government announces relief measures
The government on Monday announced a major relief to exporters by declaring income tax collected on export proceeds as final discharge of liability, reduced withholding tax from four to three percent for industrial importers, abolished 'Carbon Surcharge' on CNG, replaced 16 percent sales tax on import of newsprint with five percent customs duty and abolished 20 paisa Federal Excise Duty (FED) on SMS with increase in FED from 19 to 19.5 percent on services provided by cellular companies more... (BR)

Developing countries' GDP to slow to 1.2 percent: World Bank
The World Bank on Monday estimated economic growth in developing countries of 1.2 percent this year, and said that without China and India, output would shrink 1.6 percent. Amid the worst global financial and economic crisis in seven decades, the multilateral institution eight days ago lowered its outlook on global growth, to a contraction of 3.0 percent this year more... (BR)

July-May oil bill shrinks 15 per cent
The over all import bill dropped 12pc to $31.48bn in July-May as against $35.94bn over the same period last year more... (D)

Top Obama aide to visit Afghanistan, Pakistan and India
President Barack Obama's top security adviser James Jones will visit Afghanistan and Pakistan to monitor the new US war plan, a US official said Monday. He will also visit India. Jones will meet local officials, US diplomats, military personnel and representatives of foreign nations in the Afghan war coalition more... (BR)

Russia wants to enhance strategic relationship with Pakistan
Chief of Army Staff (COAS) General Ashfaq Parvez Kayani, who is on an official visit to Russia on Monday met General Vladimir Boldyrev, Commander-in-Chief Russian ground forces. During meeting the matters of professional interest with particular reference to enhancing ties between armies of the two countries, were discussed more... (BR)

'West owes sustained economic support to Pakistan'
Advocating the critical importance of democracy and economic development to defeating terrorists, President Asif Ali Zardari on Monday asked the international community, particularly the Western powers, to support Pakistan with immediate assistance as well as expanded trade to help it address challenges of global implications more... (BR)

sector Briefing

KSE board members to meet Tarin in Islamabad today
The members of the board of directors of Karachi Stock Exchange (KSE) are scheduled to meet the Advisor to Prime Minister on Finance, Shaukat Tarin, on Tuesday in Islamabad to discuss various issues regarding imposition of federal excise duty (FED) on brokerage and its collection more... (BR)

Parco claims PSO owes Rs 30 billion
The Pak-Arab Refinery (Parco) has sent an SOS letter to Petroleum Ministry stating that Pakistan State Oil (PSO) owes it in excess of Rs 30 billion and that it has no money to place orders for import of crude oil, sources told Business Recorder. It said that if this issue is not resolved then the company will have to shut down operations in 45 days more... (BR)

Resolving Rs 216 billion circular debt problem: government to set up 'Power Holding Company'
The government is establishing a 'Power Holding Company Limited' (PHCL), intended to resolve the Rs 216 billion circular debt of distribution companies (discos) and generation companies (gencos), official sources told Business Recorder more...

 
(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