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September 16, 2009
Statistics
KSE-100 Index
Previous Index 9,075.26
Current Index 9,029.45
Change % (0.50)%
YTD (CY09) 54.00%
YTD (FY10) 26.10%

International Indicators
  Close %age
BSE-30 16,454.45 1.48%
HANGSENG 20,866.37 (0.31)%
NIKKEI 255 10,217.62 0.20%
FTSE 5,042.13 0.46%
DJIA 9,683.41 0.59%
SSEC 3,033.73 0.23%
NASDAQ 2,102.64 0.52%

SCRA
Sept 14, 2009 13.250
Sept 2009 124.938
YTD 195.988

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.59%
6m KIBOR 12.65%
10 yrs PIB 12.51%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 121.16
Rs/UK 137.75
Rs/US 82.93
Rs/OR 215.26

Commodities
Oil $70.58/barrel
Oil Change in % (0.49)%
Gold $1,010.50/ounce
Gold Change in % 0.42%

Inflation
CPI Gen. - YoY (Aug 09) 10.70%
CPI Gen. - FY10 (Jul -Aug 09) 10.90%
NFNE Core INFL - YoY (Aug 09) 12.60%
NFNE Core INFL - FY10 (Jul-Aug 09) 13.30%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.34mn
US$ Reserves (Sep 05, 2009) 14.24bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Jul 09) $(606)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul 09) $195.6mn
All Sch. Banks Deposit Base (Sep 05, 2009) Rs.4,099bn

NAVs and Returns
as of Sept 15, 2009
Funds Offer Redemption
POBOP 51.9430/- 51.4236/-
Daily Return 36.38%
POAIIF 52.6256/- 52.0993/-
Daily Return 7.79%
POAIF 55.07/- 53.69/-
Daily Return (222.97)%
POASF 55.70/- 54.31/-
Daily Return (140.59)%
POAF 11.0941/-
Daily Return 13.69%
*Daily Returns are calculated as per MUFAP guidelines

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

$2 billion investment likely through RPPs: Cheema
Managing Director Pakistan Electric Power Company (Pepco) Tahir Basharat Cheema on Tuesday said that an investment of around US $2 billion is expected in power sector through Rental Power Projects (RPPs). In a briefing given to media persons here, he said besides investment in power sector additional electricity of 1675 MW will be added in the system by December 2009 when nine rental power projects will start generation more... (BR)

FDI posts sharp decline of over 57 percent in July-August
Domestic shocks like power shortages, poor law and order situation and future uncertainty have largely hurt the Foreign Direct Investment (FDI), which posted a sharp decline of over 57 percent during the first two months of current fiscal year more... (BR)

World Bank to provide $350mn loan to Pakistan
World Bank (WB) will extend loans amounting to $350 million for expansion in the scope of Benazir Income Support Program (BISP), higher education support program and improvement of the irrigation system in Sindh more... (D)

Politics

Musharraf's exit: PML-N to move resolutions against Zardari
Leader of Opposition in the National Assembly Chaudhry Nisar Ali Khan on Tuesday announced that Pakistan Muslim League-Nawaz would move resolutions in both houses of the parliament against President Asif Ali Zardari's statement confirming deal between the PPP government and the international guarantors to give a safe passage to former President Pervez Musharraf after his resignation more... (BR)

US military aid not misused: Musharraf
Pakistan never miss-utilised US funds for strengthening its defences against India, said the former president more... (D)

America's defeat to destabilise Pakistan: US senators
John McCain, Joe Lieberman and Lindsey Graham warned that the defeat in Afghanistan will further destabilise Pakistan more... (D)

Sector Briefing

Import of 0.4 million tons of urea allowed by ECC: regulatory duty on wheat products export abolished
The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday gave approval for import of 400,000 tons urea through private sector, and abolished 35 percent regulatory duty on export of wheat products. The meeting, chaired by Minister for Petroleum and Privatisation Naveed Qamar, allowed import of urea, with subsidy of Rs 750 per 50 kg bag, to private importers on first-come first-serve basis more... (BR)

OGDC strikes oil and gas reserves in Dakhni Well
Oil and Gas Development Company (OGDC) has struck oil and gas reserves in Dakhni Well No 11, district Attock Punjab. According to information sent to Karachi Stocks Exchange (KSE) here on Tuesday, the well has produced 95 barrels per day of oil and 3.06 mmcf per day of gas on 32/64" choke size at wellhead flowing pressure of 600 PSI more... (BR)

NPLs are a big threat to banking industry: Raza
National Bank of Pakistan President Ali Raza said on Tuesday that rising non-performing loans (NPLs) "are a big threat" for banking industry, which is already facing decline in profit due to slow economic activity. Talking with newsmen at NBP Iftar-dinner at a hotel here, he said that "it's a wrong perception that NBP profit has decline by 40 percent, and actually the bank's profit has posted a decrease of 20 percent on quarterly basis 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.