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September 11, 2009
Statistics
KSE-100 Index
Previous Index 9,084.98
Current Index 8,996.19
Change % (0.98)%
YTD (CY09) 53.40%
YTD (FY10) 25.60%

International Indicators
  Close %age
BSE-30 16,216.86 0.21%
HANGSENG 21,069.56 1.05%
NIKKEI 255 10,513.67 1.95%
FTSE 4,987.68 (0.33)%
DJIA 9,627.48 0.84%
SSEC 2,960.00 1.20%
NASDAQ Composite 2,084.02 1.15%

SCRA
Sept 09, 2009 8.131
Sept 2009 104.687
YTD 175.738

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.60%
6m KIBOR 12.68%
10 yrs PIB 12.51%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 120.84
Rs/UK 137.26
Rs/US 83.00
Rs/OR 215.93

Commodities
Oil $72.24/barrel
Oil Change in % 0.42%
Gold $1,001.50/ounce
Gold Change in % 0.47%

Inflation
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 FY10E 2.00%
Per Capita Income $1,046
Population 167.34mn
US$ Reserves (Sep 05, 2009) 14.24bn
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 (Sep 05, 2009) Rs.4,099bn

NAVs and Returns
as of Sept 10, 2009
Funds Offer Redemption
POBOP 51.8300/- 51.3117/-
Daily Return 10.24%
POAIIF 52.5706/- 52.0449/-
Daily Return 8.17%
POAIF 55.39/- 54.01/-
Daily Return 67.71%
POASF 55.71/- 54.32/-
Daily Return 47.10%
POAF 11.0754/-
Daily Return 12.97%
*Daily Returns are calculated as per MUFAP guidelines

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

$1.21 billion hard loan, FoDP pledges: Finance bosses fail to convince lawmakers
The economic managers on Thursday failed to convince parliamentarians for taking $1.21 billion hard loan on 5 percent interest and non-materialisation of Tokyo pledges by the Friend of Democratic Pakistan (FoDP) more... (BR)

Remittances rise to record $780.53 million in August
Pakistani workers remitted a record amount of $780.53 million in August, 2009 as against $592.30 million in the same month of the last fiscal year (August 2008), showing a jump of $188.23 million or 31.78 percent. The amount of $780.53 million includes $0.52 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs) more... (BR)

July-August CPI inflation shoots up to 10.93 percent
The inflation measured by CPI shot up to 10.93 percent in July-August 2009-10 over the same period of last year on the back of soaring prices of essential commodities such as food, fuel and lighting, household equipment along with transport and communication, said Federal Bureau of Statistics more... (BR)

Politics

Zardari rejects Barack Obama's Af-Pak strategy
President Asif Ali Zardari has rejected the Obama administration’s strategy of linking policy on Pakistan and Afghanistan in an effort to end a Taliban insurgency and bring more... (DT)

Nawaz arrives in Saudi Arabia
Pakistan Muslim League (Nawaz) Quaid, Mian Muhammad Nawaz Sharif arrived in Saudi Arabia on Thursday to perform Umrah, Aaj News reported. According to the channel, Mian Muhammad Nawaz Sharif is likely to meet King of Saudi Arabia, Shah Abdullah. Quoting the sources the channel claimed that this a non political visit and Sharif family usually spend last ten days of Ramazan in Saudi Arabia more... (BR)

Zardari calls to restart dialogue process with India
President Asif Ali Zardari has underlined the need to restart the dialogue process between India and Pakistan for resolving outstanding issues, saying that the initiation of dialogue process between the two countries is in best interest of both sides more... (BR)

Sector Briefing

World Bank proposes new slabs for corporate tax rate structure
The World Bank has proposed new slabs for corporate income tax rate structure in Pakistan including 20 percent tax for small companies having turnover up to Rs 250 million and 30 percent tax for big companies having turnover of more than Rs 750 million more... (BR)

Rental power plants: PPIB shocked over rejection of proposals
Private Power Infrastructure Board (PPIB) is reportedly in a state of shock over rejection of its four unsolicited proposals for Rental Power Plants (RPPs) by the Economic Co-ordination Committee (ECC) of the Cabinet, after the National Electric Power Regulatory Authority (Nepra) questioned the powers of the ECC in tariff fixation, well-informed sources told Business Recorder on Thursday more... (BR)

US to help cut shortfall by 1,500 megawatts in three years
The United States, under its Energy Efficiency and Capacity Building programme, will significantly reduce the Pakistan's energy shortfall of 1500 MW over the next three years through efficient use and conservation of energy. USAID-Mission Director in Pakistan Robert J.Wilson briefed the media on Thursday about the USAID programme to be launched in Pakistan 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
  Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
  Faiz Malik
Database Manager

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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.