August 31, 2009
KSE-100 Index
Previous Index 8,315.16
Current Index 8,541.22
Change % 2.72%
YTD (CY09) 45.63%
YTD (FY10) 19.25%

International Indicators
  Close %age
BSE-30 15,922.34 0.90%
HANGSENG 20,098.62 (0.71)%
NIKKEI 255 10,534.14 0.57%
FTSE 4,908.90 0.81%
DJIA 9,544.20 (0.38)%
SSEC 2,860.69 (2.91)%
NASDAQ Composite 2,028.77 0.05%

Aug 28, 2009 5.999
Aug 2009 59.324
YTD 64.291

Money Market Updates
6m T-bill (Aug 26, 2009) 12.44%
12m T-bill (Aug 26, 2009) 12.42%
3m KIBOR 12.52%
6m KIBOR 12.56%
10 yrs PIB (Aug 29, 2009) 12.36%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 118.69
Rs/UK 135.04
Rs/US 83.15
Rs/OR 209.72

Oil $72.56/barrel
Oil Change in % (0.07)%
Gold $958.10/ounce
Gold Change in % 0.80%

CPI Gen. - YoY (Jul 09) 11.20%
CPI Gen. - FY10 (Jul 09) 11.20%
NFNE Core INFL - YoY (Jul 09) 14.00%
NFNE Core INFL - FY10 (Jul 09) 14.00%

Economic Indicators
GDP Growth FY09E 2.00%
Per Capita Income $1,046
Population 167.29mn
US$ Reserves (Aug 22, 2009) 12.85bn
Trade Deficit (Jul 09) $(1.15)bn
Curr. A/C (Jul 09) $(606)mn
Remittances (Jul 09) $747.22mn
Foreign Investment (Jul 09) $195.6mn
All Sch. Banks Deposit Base (Aug 22, 2009) Rs.3,973bn

NAVs and Returns
as of Aug 29, 2009
Funds Offer Redemption
POBOP 51.5905/- 51.0746/-
Daily Return 9.82%
POAIIF 52.4500/- 51.9255/-
Daily Return 10.81%
POAIF 54.83/- 53.46/-
Daily Return 0.00%
POASF 54.89/- 53.52/-
Daily Return 6.82%
POAF 11.10/-
Daily Return 13.01%
*Daily Returns are calculated as per MUFAP guidelines

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

MONEY WEEK: budgetary borrowings from SBP plummet to Rs 26 billion
Budgetary borrowings from the central bank--State Bank of Pakistan--registered a quantum drop during the week ended on August 15, 2009. By the end of the previous week, the government had borrowed Rs103 billion to bridge its expenditure/revenue gap from the State Bank, which dropped to a mere Rs 26 billion. more... (BR)

Detailed scrutiny of data: Anti Evasion Cell picks five top sectors
The 'Anti-Evasion Cell' of the Federal Board of Revenue (FBR) has picked five top sectors-cement, sugar, beverages, cigarettes and lubricants-for detailed scrutiny of data to check any kind of evasion of duties and taxes. more... (BR)

Pakistan to receive over $900 million from Friends by end December
Pakistan will receive over $900 million from Friends of Democratic Pakistan (FoDP) by the end of December 2009, said Federal Foreign Minster Shah Mahmood Qureshi while briefing media after his return from Turkey where he led the Pakistan side at the ministerial level FoDP meeting. more... (BR)

Net National Savings Schemes (NSS) deposits up 207pc in FY09
Attracts Rs266bn, highest in decade
Net investments in National Savings Schemes (NSS) surged by a whopping 207 per cent or Rs179.3 billion to a record Rs265.95 billion in the fiscal year 2008-09 against Rs86.63 billion during the corresponding period of last fiscal year. more... (FD)


Gilani condemns attack on security forces
Prime Minister Syed Yousuf Raza Gilani has strongly condemned the attack on security forces in Mingora in which several personnel embraced Shahadat. In a statement, the Prime Minister termed the attack a cowardly act. He directed the authorities for immediate relief to the injured. more... (BR)

N’ can longmarch for Musharraf’s trail
Gwadar Port to be handed over to B’stan: Rehman Malik
Federal Interior Minister Rehman Malik has asked Pakistan Muslim League-N (PML-N) to materialise its wish of long march to Islamabad for trial of former president General (Retd) Pervez Musharraf under Article 6 of the Constitution. more... (FD)

Rs 4.80 per litre hike in POL prices likely: Finance backs proposal
The government is likely to increase the price of petroleum products up to Rs 4.80 per litre in line with the rise in global oil prices and the decline in the external rupee value, effective from September 1. According to sources, in a summary moved to Prime Minister Syed Yousuf Raza Gilani. more... (BR)

Sector Briefing

Rescheduling NBP loan for TIP: finance links GoP guarantee to ECC nod
The Finance Ministry is reported to have refused to give GoP guarantee in favour of National Bank of Pakistan (NBP) for rescheduling of the loan of Telephone Industries of Pakistan (TIP) until Economic Co-ordination Committee (ECC) of the Cabinet gives green signal, sources told Business Recorder. more... (BR)

RPP to narrow supply, demand gap: Ashraf
Federal Minister for Water and Power Raja Pervaiz Ashraf on Sunday said the government has approved installation of rental power plant until other setup is arranged, adding it is top priority of the government to end load shedding as soon as possible. more... (FD)

Adamjee Insurance Company Limited (AICL) earnings slip for 1HCY09
Adamjee Insurance Company Limited (AICL) for the period ended June 30, 2009 (1HCY09) logged a decrease in profit after tax by 80.53 per cent.
According to financial results, the company reported profit after tax worth Rs582.52 million (EPS: Rs5.18) in first half of the Calendar Year 2009 as compared to profit after tax of Rs2.99 billion (EPS: Rs26.66) during the same period of last year. The company has also declared a cash dividend of Rs1.5 per share, i.e. 15 per cent. more... (FD)

Banking spreads shrink 17bps MoM
The net interest rate spreads of the banking sector declined by 17 basis points on month-on-month basis to 7.35 per cent in July 2009 from 7.52 per cent in previous month. Data released by State Bank of Pakistan (SBP) show that the spreads measured by the difference between lending rates, charged from borrowers, and deposit rates, paid to depositors, are at their lowest level since January 2009. However, on YoY basis, they are still 30bps higher as compared to 7.05 per cent in the same month of the last year. more... (FD)

(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
Majid Butt
Research Analyst
Faiz Malik
Database Manager


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.