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July 07, 2009

Statistics
KSE 100 Index
Previous Index
7,471.28
Current Index
7,538.49
Change %
0.90%
YTD (CY09)
28.50%
YTD (FY09)
(38.70)%

International Indicates
 
Close
Percentage
BSE-30
14,043.40
(5.83)%
HANGSENG
17,979.41
(1.20)%
NIKKEI 255
9,680.87
(1.40)%
FTSE
4,194.91
(0.98)%
DJI
8,324.87
0.53%
SSEC
3,124.67
1.18%
NASDAQ
1,787.40
(0.51)%

S.C.R.A
03-07-2009
6.93
July-09
10.98
YTD
10.98

Money Market Updates
Tbill Cut-off
 
1 year
12.24%
6 month
12.43%
KIBOR (3 months)
12.15%
KIBOR (6 months)
12.32%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
81.71
Rs/UK
132.50
Rs/EURO
113.73
Rs/OMAN RIYAL
212.46

commodities
Oil
$64.51/barrel
Oil Change in %
0.72%
Gold
$924.60/ounce
Gold Change in %
0.03%

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 27, 08)
Rs.4,120bn

Daily Returns and NAVs
as of July 06, 2009
 
Offer
Redemption
POBOP
Book Closure
-/-
Daily Return
-%
POASF
Book Closure
-/-
Daily Return
-%
POAIF
Book Closure
-/-
Daily Return
-%
POAIIF
Book Closure
-/-
Daily Return
-%
POAF
N/A
Daily Return
-%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Talks with IMF: government may agree to slash development budget
Pakistan's policy-makers, involved in the budget making, are ready to sacrifice development budget for the first time after budget announcement before the International Monetary Fund (IMF) authorities in Istanbul. "When they would ask us how we are going to meet fiscal deficit in the face of inelastic expenditures, we have only answer of cutting development spending," says an official participating in the talks more... (BR)

Net NSS deposits down 9.4pc in May
As government has decided to lower the profit rates on various National Saving Schemes (NSS) by 1.5 per cent effective from 1 April 2009, net investment in NSS fell by 9.4 per cent MoM in May 2009 as against April 2009 investment of Rs43.15 billion more... (FD)

Supreme Court restrains Nepra from increasing power tariff
The Supreme Court on Monday restrained National Electric Power Regulatory Authority (Nepra) from increasing the proposed power tariff (17 percent or Rs 1.96 per unit) till the decision of the case. The court directed Nepra to submit details pertaining to the cost of power generation with a break-up of transmission and distribution tariff by July 23 more... (BR)

Top UN official arrives today
United Nations Under-Secretary-General and Emergency Relief Coordinator, John Holmes will be visiting Pakistan from Tuesday (today). John Holmes, who is also Emergency Relief Coordinator for United Nations, will be on a five-day visit to Pakistan (July 7-11) to gain first hand information on the humanitarian situation and view the response of humanitarian agencies working here. According to United Nations Information Centre (UNIC), during the mission, Holmes is scheduled to meet President Asif Ali Zardari, Prime Minister Syed Yousuf Raza Gilani, Foreign Minister Shah Mehmood Qureshi, General Nadeem and the Special Support Group more... (FD)

PPP favours repeal of 17th Amendment
President Asif Ali Zardari said that the PPP ‘will rid the Constitution of all undemocratic clauses.’ more... (D)

Dissidents to stop PML-Q from becoming family party
‘We are fighting for democracy within the party, an exception in Pakistan, where family parties are a rule.’ more... (D)

sector Briefing

NIT announces handsome dividendJamil Siddiqui
NIT has announced a dividend of Rs3.25 per unit for the year ended June 30, 2009. The payment of dividend of Rs3.25 per unit would involve a total payout of Rs3,321 million among its unit holders. This was stated by Chairman & MD NIT Tariq Iqbal Khan in a press conference after the Board of Directors of National Investment Trust Limited approved the dividend more... (FD)

Withholding tax on shares sale to go: Tarin
The Advisor to Prime Minister on Finance, Shaukat Tarin, has announced to abolish withholding tax applicable on shares sale. Briefing the media after his meeting with members of Karachi Stock Exchange (KSE) here on Monday he also announced that he would advise the Federal Board of Revenue (FBR) to convert the tax being paid under 'Presumptive Tax Regime' (PTR) to be made adjustable (as compared to minimum) with final tax liability of members more... (BR)

No let-up in power outages: KESC reluctant to use furnace oil to save money
With all of its power generating units at Bin Qasim Thermal Power Plant (BQTPP) being "dual-fuel," the Karachi Electric Supply Company (KESC) has made the shortage of gas an excuse for justifying its frequent load-shedding or what it terms "power management" 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