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LOGO
August 06, 2009
Statistics
KSE-100 Index
Previous Index
7,796.22
Current Index
7,834.69
Change %
0.49%
YTD (CY09)
36.18%
YTD (FY10)
7.76%

International Indicators
 
Close
Percentage
BSE-30
15,903.83
0.46%
HANGSENG
20,494.77
(1.45)%
NIKKEI 255
10,252.53
(1.18)%
FTSE
4,647.10
(0.52)%
DJIA
9,280.97
(0.42)%
SSEC
3,471.44
0.26%
NASDAQ
1,993.05
(0.91)%

S.C.R.A
Aug 04, 2009
(0.819)
Aug 2009
(0.819)
YTD
(2.718)

Money Market Updates
Tbill (6 months)
11.38%
Tbill (12 months)
11.75%
KIBOR (3 months)
12.99%
KIBOR (6 months)
12.03%
PIB (10 years)
11.88%

Exchange Rates
Rs/EURO
120.38
Rs/UK
141.47
Rs/US
83.39
Rs/OMAN RIYAL
214.80

Commodities
Oil
$71.37/barrel
Oil Change in %
(0.54)%
Gold
$966.40/ounce
Gold Change in %
(0.14)%

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
167.08mn
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 (Aug 01, 09)
Rs.4,153mn

Daily Returns and NAVs
as of Aug 05, 2009
 
Offer
Redemption
POBOP
51.6656/-
51.1489/-
Daily Return
12.42%
POAIIF
52.3129/-
51.7898/-
Daily Return
8.29%
POAIF
53.95/-
52.60/-
Daily Return
27.78%
POASF
54.30/-
52.94/-
Daily Return
34.51%
POAF
11.05/-
Daily Return
12.96%
* Daily Returns are calculated as per MUFAP guidelines

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

Nepra allows six discos to raise power tariffs
The National Electric Power Regulatory Authority (Nepra) has authorised six discos to increase their power tariffs, ranging from 26 paisa to 49 paisa per unit, but refused to annex mark-up with the tariff on delayed payment to IPPs. Quetta Electric Supply Company (Qesco) and Gujranwala Electric Power Company (Gepco), however, have been asked to reduce their tariff by Rs 1.54 per unit and 0.02 paisa per unit respectively. more... (BR)

Power producers: IFIs for allocation of 350MMCFD additional gas
Major international financial institutions (IFIs) like International Monetary Fund (IMF), Asian Development Bank (ADB) and World Bank have proposed to the government of Pakistan to allocate 350 MMCFD additional gas for power producers to enable the government completely abolish subsidy in power sector. more... (BR)

Aptma to supply 40 megawatts power to KESC
The All Pakistan Textile Mills Association (Aptma) will start supplying at least 40 megawatts of its surplus electricity to Karachi Electric Supply Company (KESC) in the next few days. According to sources, talks between the two parties-Aptma and KESC-regarding tariff and other related issues are likely to be finalised within two or three days. more... (BR)

Government to act on unanimous resolution against Musharraf: Prime Minister
Prime Minister Syed Yousaf Raza Gilani has said that the government would support a unanimous resolution of the Parliament for taking action against former President Pervez Musharraf under Article 6 of the Constitution. Prime Minister responding to points raised by leader of the opposition in the National Assembly on Wednesday said that he is against 17th Amendment and article 58/2(B) of the constitution before the House adjourned to meet today (Thursday). more... (BR)

Graduation condition removed by Cabinet: candidates taking part in elections
The Cabinet on Wednesday accorded approval for doing away with the graduation condition for candidates taking part in general elections. Prime Minister Yousuf Raza Gilani presided over the meeting. more... (BR)

Loans written off by banks: data received from SBP being compiled, National Assembly told
Minister of State for Finance Hina Rabbani Khar informed the National Assembly Wednesday that the data received from the State Bank of Pakistan (SBP) on loans written off by public and private banks is being compiled. Minister of State for Finance told the House during question hour that the exercise is being carried out in response to a question raised earlier in the House. more... (BR)

PCO-judges are still judges: SHC Chief Justice
The judges who took oath under Provisional Constitutional Order (PCO-1 of 2009), are still judges of respective courts, and their fate would be decided by the Supreme Judicial Council (SJC), said the Chief Justice of High Court of Sindh (SHC), Justice Sarmad Jalal Osmany on Wednesday. He was talking with print and electronic media in the committee room of Sindh High Court Bar Association (SHCBA). more... (BR)

Sector Briefing

SBP likely to change policy rate structure
In a major move, the State Bank of Pakistan on Wednesday decided to end the single policy rate regime by introducing new mechanism for liquidity management in order to fulfil the International Monetary Fund condition, sources said. They said under the new mechanism, the SBP would announce one policy or repo rate and one reverse repo rate. more... (BR)

Banks reluctant to increase textile lending
The entire textile and export sector is under pressure as banks have not enhanced corporate lending, fearing further increase in non-performing loans. more... (D)

Lucky Cement posts better-than-expected results
Lucky Cement announced a staggering 72 per cent growth in earnings and a cash dividend of Rs4 (40 per cent) per share, which gave market a pleasant surprise. more... (D)

Securities and Exchange Commission of Pakistan (SECP) fines UBL Rs2mn
The Securities and Exchange Commission of Pakistan (SECP) has imposed Rs2 million penalty on United Bank Limited (UBL) after the bank failed to comply with the provisions of Listing Regulations of Karachi Stock Exchange (KSE). more... (FD)

Brokers urge govt to issue WHT removal notice
Tareen’s pledge remains unhonoured to this day
Brokers at Karachi Stock Exchange (KSE) have demanded the government to issue notification regarding the withdrawal of Withholding Tax (WHT) from the sale of shares as was promised by the Advisor to Prime Minister Shaukat Tareen. more... (FD)

Turkmenistan offers to export electricity
Pakistan and Turkmenistan have signed a protocol wherein the two countries agreed to speed up the project for supply of gas to Pakistan. more... (D)

(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