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July 21, 2009

Statistics
KSE 100 Index
Previous Index
7,764.01
Current Index
7,710.64
Change %
(0.68)%
YTD (CY09)
34.03%
YTD (FY10)
6.05%

International Indicates
 
Close
Percentage
BSE-30
15,191.01
3.02%
HANGSENG
19,502.37
3.70%
NIKKEI 255
9,395.32
0.00%
FTSE
4,443.60
1.87%
DJI
8,848.15
1.19%
SSEC
3,189.74
0.00%
NASDAQ-100
1,544.00
1.09%

S.C.R.A
17-07-2009
4.918
July-09
24.47
YTD
24.47

Money Market Updates
Tbill Cut-off
 
1 year
11.47%
6 month
11.38%
KIBOR (3 months)
11.74%
KIBOR (6 months)
11.92%
PIB (10 years)
11.56%

Exchange Rates
Rs/US
82.00
Rs/UK
134.56
Rs/EURO
116.18
Rs/OMAN RIYAL
213.31

commodities
Oil
$63.83/barrel
Oil Change in %
(0.34)%
Gold
$949.20/ounce
Gold Change in %
0.89%

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)
17.60%

Economic Indicators
US$ Reserves (Billion)
12.24
GDP Growth FY09E
2.0%
Per Capita Income
$1,046
Population
166.92mn
Trade Deficit (Jul-Jun 09)
$(17.04)bn
Curr. A/C (Jul-Jun 09)
$(8.86)bn
Remittances (Jul-May 09)
$7.81bn
Foreign Investment (Jul-May 09)
$2.67bn
All Scheduled Banks Deposit Base (July 04, 09)
Rs.4,127bn

Daily Returns and NAVs
as of July 18, 2009
 
Offer
Redemption
POBOP
51.4710/-
50.9563/-
Daily Return
4.28%
POASF
54.11/-
52.76/-
Daily Return
0.00%
POAIF
53.28/-
51.95/-
Daily Return
(38.56)%
POAIIF
51.9408/-
51.4214/-
Daily Return
7.43%
POAF
10.9925/-
Daily Return
14.18%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Condition to finance Bhasha dam: ADB asks government to tax water used for irrigation
The Asian Development Bank (ADB) has sought government commitment to tax water used for irrigation, prior to release of funds for the construction of Diamer Bhasha dam. Sources in Finance Ministry told Business Recorder that ADB is of the view that water to be stored in the dam, if used for irrigation of agriculture land, should be taxed more... (BR)

FBR to turn GST into VAT next yrVAT to help collect additional revenue worth Rs400bn
Government is striving to include new sectors into tax net and has decided to turn General Sales Tax into Value Added Tax (VAT) by July 1, 2010. This was stated by Chairman Federal Board of Revenue (FBR), Sohail Ahmed while talking to media persons during his visit to Directorate of Income Tax in Lahore Monday more... (FD)

World Bank for profound changes in all tax laws
The World Bank (WB) has urged the Federal Board of Revenue (FBR) to amend the laws of sales tax, federal excise and income tax for reduction in additional tax and penalties where taxpayers are ready to pay due tax assessed by the department without going into litigation more... (BR)

Judiciary responsible for army takeovers: Chief Justice
Chief Justice Iftikhar Muhammad Chaudhry on Monday held judiciary responsible for military takeovers, saying that validating their decisions through 'law of necessity' was erroneous as well as regretful. If judiciary had stood up against more... (BR)

FoDP meeting: Gilani urges EU to deliver on pledges
Prime Minister Syed Yousuf Raza Gilani has urged the European Union countries to deliver on their pledges made during the Friends of Democratic Pakistan (FoDP) ministerial meeting in Tokyo. The Prime Minister was talking to European Union's high representative and foreign policy chief Javier Solana, who called on him at the Prime Minister's House here on Monday more... (BR)

India gets confession out of Kasab - No credibility of confession: Mukhtar
The lone surviving gunman from last year's Mumbai attacks, Ajmal Kasab made a surprise guilty plea on Monday, admitting his role in the three-day rampage that killed 166 and raised tensions between India and Pakistan more... (FD)

sector Briefing

OMCs to set up 200 E-10 pumps by ‘10
Oil Marketing Companies (OMCs) will set up 200 ethanol petrol pumps across the country by 2010 at a cost of Rs4 billion. Private television news channel reported quoting OMCs' sources Monday that Pakistan State Oil (PSO) has practically initiated work in this connection. PSO will set up 30 E-10 filling stations in various cities of the country more... (FD)

NIT LOC holders get Rs3.05 per unit
The National Investment Trust Limited (NITL) has declared dividend of Rs3.05 per unit to the unit holders of National Investment (Unit) Trust - LOC Holders Fund for the financial year ended 30th June 2009 more... (FD)

Joint venture, production-sharing: Pakistan wants Tajikistan to enter into E&P accord
Pakistan has proposed exploration and production company of Tajikistan to enter into joint venture/production sharing agreement in exploration. The proposal came in the opening session of the third session of Pak-Tajik joint economic commission held here on Monday 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