BasedLine
LOGO
August 04, 2009
Statistics
KSE-100 Index
Previous Index
7,720.93
Current Index
7,716.99
Change %
(0.05)%
YTD (CY09)
34.14%
YTD (FY10)
6.14%

International Indicators
 
Close
Percentage
BSE-30
15,924.23
1.62%
HANGSENG
20,807.26
1.14%
NIKKEI 255
10,352.47
(0.04)%
FTSE
4,682.50
1.61%
DJIA
9,286.56
1.25%
SSEC
3,412.06
0.00%
NASDAQ
2,008.61
1.52%

S.C.R.A
Jul 31, 2009
(0.832)
Jul 2009
4.907
YTD
4.907

Money Market Updates
Tbill (6 months)
11.38%
Tbill (12 months)
11.75%
KIBOR (3 months)
11.95%
KIBOR (6 months)
12.00%
PIB (10 years)
11.73%

Exchange Rates
Rs/EURO
118.96
Rs/UK
139.77
Rs/US
83.47
Rs/OMAN RIYAL
214.06

Commodities
Oil
$71.36/barrel
Oil Change in %
1.75%
Gold
$958.30/ounce
Gold Change in %
0.13%

Inflation
CPI Gen. Jun 09 (YOY)
13.10%
CPI Gen. (Jul 08-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul 08-Jun 09)
17.60%

Economic Indicators
US$ Reserves
11.77bn
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.07mn
Trade Deficit (Jul 08-Jun 09)
$(17.04)bn
Curr. A/C (Jul 08-Jun 09)
$(8.86)bn
Remittances (Jul 08-Jun 09)
$7.81bn
Foreign Investment (Jul 08-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (July 25, 09)
Rs.4,137bn

Daily Returns and NAVs
as of Aug 03, 2009
 
Offer
Redemption
POBOP
51.6351/-
51.1187/-
Daily Return
10.44%
POASF
54.19/-
52.84/-
Daily Return
(55.09)%
POAIF
53.91/-
52.56/-
Daily Return
(24.27)%
POAIIF
52.2907/-
51.7678/-
Daily Return
7.76%
POAF
11.05/-
Daily Return
6.61%
* Daily Returns are calculated as per MUFAP guidelines

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

Rental plants only option, Raja tells National Assembly
Minister for Water and Power Raja Pervaiz Ashraf told the National Assembly on Monday that the government had no other option but to go for power rentals as other options including hydel, coal and IPPs could take from three to eight years but the people cannot afford power outages any more. He told the National Assembly that Mangla Dam is being filled up to 1210 feet height following completion of its raising. more... (BR)

Rs 3.923 billion shortfall so far: FBR collects Rs 74.077 billion taxes in July
The Federal Board of Revenue (FBR) collected Rs 74.077 billion during the first month of new fiscal year 2009-10, against the target of Rs 78 billion for July 2009, reflecting a shortfall of Rs 3.923 billion. The FBR collected Rs 74.077 billion during July 2009 against Rs 72.366 billion of July 2008, reflecting a nominal increase of 2.4 percent. more... (BR)

Implementation of circular debt resolution plan on the cards
The government is ready to implement the circular debt resolution plan prepared in close collaboration with the Asian Development Bank (ADB), World Bank and International Monetary Fund (IMF) to address the issue of circular debt that is resulting in unscheduled outages and load shedding across the country. more... (BR)

17th Amendment: Parliamentary body urged to focus on early repeal
A group of prominent legal and political experts on Monday called upon the parliamentary committee on constitutional reforms to focus on repealing 17th amendment in the first phase. more... (D)

Supreme Court orders FIA to arrest Hamesh Khan 'Rs9bn Bank of Punjab loan scam'
Supreme Court of Pakistan directed FIA Monday to issue arrest warrant of Hamesh Khan, former president Bank of Punjab in Rs9 billion BoP loan scam. A three-member bench of the Supreme Court headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justice Chaudhry Ijaz Ahmed and Justice Jawad S Khawaja adjourned the hearing of the case till August 10. The apex court again directed the three main accused in the case Hamesh Khan, Sheikh Afzal, owner of Haris Steel and his son Haris Afzal to appear before the court and also directed that appearance of the accused was a must as their non-appearance was creating a wrong message. The Chief Justice directed Director General FIA, Tariq Khosa to use diplomatic channels for the arrest of Hamesh Khan. more... (FD)

PCO-oath judges to face SJC: Gilani
Prime Minister Yousuf Raza Gilani told the National Assembly on Monday that the so-called “PCO judges” still in office would face the Supreme Judicial Council (SJC) which could call for their removal, as the government seemed moving fast to implement last week’s Supreme Court ruling that nullified former president Pervez Musharraf’s controversial Nov 3, 2007, emergency. more... (D)

Supreme Court judgement to stop usurpation of people's right to governance: Gilani tells National Assembly
Prime Minister Syed Yousuf Raza Gilani on Monday expressed confidence that the judgement of the Supreme Court in judges confirmation case would strengthen the democratic institutions and block the way of any unconstitutional usurpation of the people's right to governance. more... (BR)

Sector Briefing

KESC given another 10 days for reply: Nepra
National Electric Power Regulatory Authority (Nepra) said on Monday that it had issued showcause notice to Karachi Electric Supply Company Limited (KESC) for seeking its explanation on non-compliance of its obligations under relevant clauses of Nepra's licenses. Karachi Electric Supply Company has now requested that it needs more time for submission of collaborate and comprehensive reply. more... (BR)

Non-life insurers delay 1H results
Non-life insurance companies delayed their results for 1HCY09 pertaining to volatile market and negative economic indicators. Non-life insurance companies having significant market share have moved application with the Securities and Exchange Commission of Pakistan (SECP) to grant them permission to delay announcement of half-yearly results. more... (FD)

Transport sector investment: government responsible for delay in World Bank lending
World Bank has again postponed two key loans regarding National Trade Corridor worth 834 million dollars for a year after the government's lethargic and lacklustre attitude towards transport sector investment. Two loans of 634.5 million-dollar National Expressway and 200 million-dollar National Trade Corridor Improvement Plan were under active review with the World Bank during 2007-08, which are gradually falling out of sight as the government is showing no progress in these areas. more... (BR)

(BR): Business Recorder, (D): Dawn, (N) The News, (DT) Daily Times, (FD): The Financial Daily
Research Team:
Shoaib Ali Khan
Department Head
Shayan Hasan
Research Analyst
Salman Kazmi
Research Analyst
Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
Faiz Malik
Database Manager
Separator
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