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July 28, 2009

Statistics
KSE 100 Index
Previous Index
7,783.40
Current Index
7,711.06
Change %
(0.93)%
YTD (CY09)
31.50%
YTD (FY10)
7.70%

International Indicates
 
Close
Percentage
BSE-30
15,375.04
(0.03)%
HANGSENG
20,251.62
1.35%
NIKKEI 255
10,088.66
1.45%
FTSE
4,586.130
0.20%
DJIA
9,108.51
0.17%
SSEC
3,435.21
1.86%
NASDAQ-100
1,967.89
0.10%

S.C.R.A
24-07-2009
2.433
July-09
0.862
YTD
0.862

Money Market Updates
Tbill Cut-off
 
1 year
11.47%
6 month
11.38%
KIBOR (3 months)
11.75%
KIBOR (6 months)
11.87%
PIB (10 years)
11.60%

Exchange Rates
Rs/US
82.72
Rs/UK
135.52
Rs/EURO
117.24
Rs/OMAN RIYAL
215.38

commodities
Oil
$68.80/barrel
Oil Change in %
0.61%
Gold
$958.30/ounce
Gold Change in %
0.21%

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)
11.85
GDP Growth FY09E
2.0%
Per Capita Income
$1,046
Population
166.97mn
Trade Deficit (Jul-Jun 09)
$(17.04)bn
Curr. A/C (Jul-Jun 09)
$(8.86)bn
Remittances (Jul-Jun 09)
$7.81bn
Foreign Investment (Jul-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (July 18, 09)
Rs.4,130bn

Daily Returns and NAVs
as of July 27, 2009
 
Offer
Redemption
POBOP
51.5074/-
50.9923/-
Daily Return
5.25%
POASF
54.34/-
52.98/-
Daily Return
(3.44)%
POAIF
53.78/-
52.44/-
Daily Return
10.45%
POAIIF
52.0141/-
51.4940/-
Daily Return
7.39%
POAF
11.0228/-
Daily Return
45.92%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Trade policy seeks to effect 'strategic change' in export sector, sets $18.86 billion target for fiscal year 2010
The government on Monday announced a number of incentives for the struggling local industry, exporters and importers under the medium-term roadmap 'Strategic Trade Policy Framework' (STPF) envisaging 29 percent growth in exports-6 percent in 2009-10, 10 percent in 2010-11, and 13 percent in 2011-12 more... (BR)

Shipment period eased under EFS
The State Bank of Pakistan (SBP) facilitated Monday exporters by allowing them extension up to 180 days in the shipment period under EFS Part-1, provided that the required shipment was falling due in FY 2008-09 more... (FD)

Zero-rate regime extended to more sectors
The new trade policy proposes to zero-rate a number of key export-related industries and extends freight subsidies more... (D)

SC cautioned against questioning Dogar's status
‘If every action of (former chief) Justice Dogar goes the oath of President Zardari will also go:’ former AG Malik Qayyum more... (D)

India's nuclear submarine to trigger arms race: Pak Navy
Pakistan has expressed concern over the induction of a nuclear submarine in the Indian Navy and said it will jeopardise the security paradigm of the entire region more... (D)

PML-N ‘agrees' to PPP proposals on local govt
PPP’s suggestions will be integrated into the LG system before tabling the final draft in the Punjab Assembly more... (D)

sector Briefing

Government to roll over Rs three billion NBP-led group loan for KESC
The government has decided to roll over a loan of Rs 3 billion, taken from the National Bank-led consortium by the government for Financial Improvement Plan (FIP) of Karachi Electric Supply Company (KESC) whose sell-off process is currently under question, sources in Finance Ministry told more... (BR)

Rs 11 billion more to be paid on account of PDC: Rs 66.456 billion paid to OMCs in 2008-09
The government had released Rs 66.456 billion on account of price differential claims (PDC) on petroleum products to oil marketing companies (OMCs) during last financial year (2008-09). This amount was paid to OMCs on the provision of subsidy to consumers of petroleum products in line with global high oil prices. The government released over Rs 40 billion PDC to Pakistan State Oil (PSO) during the year more... (BR)

First-ever Textile Policy shortly
The government would shortly announce incentives including tariff rationalisation for the textile sector through a separate Textile Policy. Trade Policy (2009-10) announced on Monday revealed that the government of Pakistan recognises the importance of the textile and clothing sectors 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