BasedLine
LOGO
July 16, 2009

Statistics
KSE 100 Index
Previous Index
7,631.66
Current Index
7,686.15
Change %
0.71%
YTD (CY09)
31.10%
YTD (FY09)
(37.50)%

International Indicates
 
Close
Percentage
BSE-30
14,253.24
2.88%
HANGSENG
18,258.66
2.10%
NIKKEI 255
9,269.25
0.08%
FTSE
4,346.46
2.60%
DJI
8,616.21
3.07%
SSEC
3,188.55
1.38%
NASDAQ
1,862.90
3.51%

S.C.R.A
14-07-2009
0.04
July-09
17.09
YTD
17.09

Money Market Updates
Tbill Cut-off
 
1 year
11.53%
6 month
11.53%
KIBOR (3 months)
11.72%
KIBOR (6 months)
11.98%
PIB (10 years)
11.55%

Exchange Rates
Rs/US
82.52
Rs/UK
134.67
Rs/EURO
115.31
Rs/OMAN RIYAL
214.10

commodities
Oil
$61.49/barrel
Oil Change in %
(0.08)%
Gold
$936.60/ounce
Gold Change in %
(0.30)%

Inflation
CPI Gen. Jun 09(YOY)
13.10%
CPI Gen. (Jul-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul-Jun 09)
15.90%

Economic Indicators
US$ Reserves (Billion)
12.27
GDP Growth FY09E
4.2%
Per Capita Income
$1,046
Population
166.86mn
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 (July 04, 09)
Rs.4,157bn

Daily Returns and NAVs
as of July 15, 2009
 
Offer
Redemption
POBOP
51.3914/-
50.8775/-
Daily Return
11.60%
POASF
54.00/-
52.65/-
Daily Return
27.75%
POAIF
53.32/-
51.99/-
Daily Return
(28.06)%
POAIIF
51.8897/-
51.3708/-
Daily Return
7.59%
POAF
10.9480/-
Daily Return
21.74%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Initial agreement with World Bank and ADB: 22-26 percent increase in power tariff in a phased manner
Pakistan on Wednesday reached an initial agreement with the World Bank and Asian Development Bank to raise power tariff by 22-26 percent in a phased manner during the current financial year 2009-10. Sources told Business Recorder that the government would increase power tariff in three phases more... (BR)

Cut in PSDP to have negative effect on WHT collection
Any likely cut in the Public Sector Development Programme (PSDP) would have negative implications on the withholding tax, to be collected from execution of contracts and supplies, under various development schemes in 2009-10. Sources told Business Recorder on Wednesday that the government has allocated an amount of Rs 421 billion in PSDP for 2009-10 for various ongoing and new schemes more... (BR)

T-bills rates continue falling Wednesday
The six-month T-bill rate fell 91 basis points, portending a possible rate cut during the SBP meeting on the 25th more... (D)

Prime Minister says peace with India 'achievable'
Prime Minister Yousuf Raza Gilani said Wednesday that relations with India were on the right track and that peace between the arch-foes was "achievable." Gilani was addressing participants at a summit of the Non-Aligned Movement at the Egyptian resort of Sharm el-Sheikh ahead of a key meeting on Thursday with Indian counterpart Manmohan Singh more... (BR)

Kashmir's accession to Pakistan Day to be marked on July 19
Elaborated arrangements have been started to observe the 'Kashmir's Accession to Pakistan Day' on July 19 with great enthusiasm and devotion. Jammu and Kashmir people living on either side of the Line of Control and rest of the world are prepared to observe 63rd Kashmir's Accession to Pakistan Day on Sunday with the renewed pledge to continue the struggle for the achievement of the right to self determination more... (BR)

Call for Indo-Pak cooperationSHARM-EL-SHEIKH:
Pakistan raising the issue of India's interference in the internal affairs of the country has made it clear that mutual cooperation is the key to stability and peace in the region. These views were expressed by Pakistan's foreign secretary Salman Bashir while briefing media after holding a nearly 90-minute meeting with his Indian counterpart Shivshankar Menon here more... (FD)

sector Briefing

PSO's SOS to Petroleum Ministry: worst-ever fuel, power crisis feared after July 22
The country may face severe fuel and power crisis after July 22 as Pakistan State Oil (PSO) has shown its inability to keep oil supply intact if the government does not immediately release Rs 30 billion to clear the outstanding dues of oil refineries and international suppliers more... (BR)

1998-2008: five refineries earned over Rs 44.5 billion profit
The country's five oil refineries reportedly pocketed Rs 44.536 billion profit during last ten years, starting from 1998-2008, with Pak-Arab Refinery (Parco) being the highest profit maker. According to the documents presented at the ECC meeting on July 14, 2009, in April, 2009, the government had accused oil refineries of involvement in forgery by showing losses and misusing 'deemed duty', collected from consumers more... (BR)

Boosting shares market trading: need for regular market funding product stressed
The re-launch of deliverable future contracts is a step forward to increase the trading volumes, temporarily. However, there is immediate need of availability of a regular market funding product to boost trading activity at the share market, analysts said 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