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June 26, 2009

Statistics
KSE 100 Index
Previous Index
7,025.89
Current Index
7,128.83
Change %
1.47%
YTD (CY09)
21.50%
YTD (FY09)
(42.00)%

International Indicates
 
Close
Percentage
BSE-30
14,345.62.
(0.53)%
HANGSENG
18,275.03
2.10%
NIKKEI 255
9,796.08
2.20%
FTSE
4,252.57
(0.64)%
DJI
8,472.40
2.08%
SSEC
2,925.05
0.09%
NASDAQ
1,829.54
2.08%

S.C.R.A
24-06-2009
15.84
June-09
43.76
YTD
(541.71)

Money Market Updates
Tbill Cut-off
 
1 year
12.24%
6 month
12.43%
KIBOR (3 months)
12.76%
KIBOR (6 months)
12.77%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
81.56
Rs/UK
133.78
Rs/EURO
113.52
Rs/OMAN RIYAL
212.01

commodities
Oil
$70.62/barrel
Oil Change in %
0.56%
Gold
$942.50/ounce
Gold Change in %
0.32%

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 20, 08)
Rs.4,052bn

Daily Returns and NAVs
as of June 25, 2009
 
Offer
Redemption
POBOP
51.2126/-
50.7005/-
Daily Return
41.00%
POASF
62.36/-
60.80/-
Daily Return
187.06%
POAIF
56.87/-
55.45/-
Daily Return
79.16%
POAIIF
55.8198/-
55.2616/-
Daily Return
6.76%
POAF
10.9461/-
Daily Return
60.45%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

$7.5 billion aid package approved by US Senate
The US Senate on Wednesday approved a bill to triple civilian US aid to Pakistan, a bid to cement a long-term partnership and defeat Islamist fighters threatening the nuclear-armed ally's stability. Lawmakers unanimously approved the plan. The package provides 7.5 billion dollars in humanitarian and economic aid over five years, recommends that level for another five years, while tying US military aid to progress against extremists more... (BR)

'Government has not decided to increase power tariff'
Managing Director Pepco Tahir Basharat Cheema has said the government has not decided to increase electricity tariff. Talking to a private TV channel, he said, "So far the government has not decided to bring any change in the existing power tariff" more... (BR)

Government to miss revenue target yet again
The govt is likely to miss its revenue target by Rs10bln; the third such downward target revision this year more... (D)

Prime Minister asks US to play role in resolving issues with India
Prime Minister, Syed Yousaf Raza Gilani, on Thursday called upon the world at large and the United States in particular, to play their role towards resolution of core issue of Kashmir as well as the water issue between Pakistan and India. Talking to General James Jones, US National Security Advisor, the prime minister said resolution of Pakistan's core issues would help it focus on war against extremism and terrorism on its western border to ensure peace and stability in South Asia more... (BR)

Operation created goodwill for Pakistan in US: Jones
The US National Security Adviser praised the military operation as a ‘tremendous confidence-builder for the future’ more... (D)

Annulment of 17th Amendment: Parliament's special committee to meet on June 29
The Special Committee of the Parliament on Constitutional Reforms, which informally met here on Thursday with the National Assembly Speaker Fahmida Mirza in the chair, convened its first meeting on June 29 to make terms of reference in the light of the resolution passed by the Parliament for doing away with 17th Constitutional Amendment. The meeting decided that Senator Raza Rabbani would be the convenor of the committee till the election of its chairman more... (BR)

sector Briefing

Open-end mutual funds: SECP issues merger procedure
The Securities and Exchange Commission of Pakistan (SECP) has issued a detailed procedure for mutual funds industry on mergers of open-end-mutual funds to ensure fair and transparent procedure of mergers. The SECP has facilitated the mutual funds industry by prescribing a comprehensive process for mergers of open-end mutual funds vide a circular issued here on Thursday more... (BR)

PRL and NRL cut jet fuel supply to Shell
Pakistan Refinery Limited (PRL) and National Refinery Limited (NRL) have curtailed jet fuel supply to Shell Oil Marketing Company that may result in disturbance of flights at Karachi airport due to fuel shortage. Sources revealed to Business Recorder on Thursday that Shell had written a letter to the Petroleum Ministry, saying that the PRL and NRL were not supplying enough JP-1 fuel to maintain critical stocks necessary to sustain the air traffic more... (BR)

Classified advances: seventh schedule amended to allow provisions
Finance Act 2009 would incorporate new amendments in the Seventh Schedule (Banking Schedule) of the Income Tax Ordinance 2001 for allowing provisions for advances and off-balance sheet items upto a maximum of 1 percent of total advances made by banks 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