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September 30, 2009
Statistics
KSE-100 Index
Previous Index 9,409.58
Current Index 9,475.48
Change % 0.70%
YTD (CY09) 61.60%
YTD (FY10) 32.30%

International Indicators
  Close %age
BSE-30 16,852.91 0.98%
HANGSENG 21,013.17 2.06%
NIKKEI 255 10,100.20 0.90%
FTSE 5,159.72 (0.10)%
DJIA 9,742.20 (0.48)%
SSEC 2,754.54 (0.32)%
NASDAQ 2,124.04 (0.31)%

SCRA
Sept 28, 2009 3.729
Sept 2009 152.463
YTD 223.514

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 12.46%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 121.50
Rs/UK 132.28
Rs/US 83.19
Rs/OR 217.36

Commodities
Oil $67.14/barrel
Oil Change in % 0.64%
Gold $997.20/ounce
Gold Change in % 0.28%

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 19, 2009) Rs.4,145bn

NAVs and Returns
as of Sept 29, 2009
Funds Offer Redemption
POBOP 51.4282/- 50.9139/-
Daily Return 9.30%
POAIIF 52.8365/- 52.3081/-
Daily Return 7.60%
POAIF 56.04/- 54.64/-
Daily Return 6.68%
POASF 56.77/- 55.35/-
Daily Return 112.45%
POAF Book Closure
Daily Return N/A
*Daily Returns are calculated as per MUFAP guidelines

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

SBP policy rate unchanged at 13 percent
As strongly expected, the State Bank of Pakistan on Tuesday announced that its policy rate would remain unchanged at 13 percent amid fear of fiscal slippages and concerned that inflation may not have peaked and uncertainty regarding the outcome of ongoing fiscal consolidation, resolution of electricity problem, and timing of official foreign inflows more... (BR)

Duty collection falls to Rs 148.4 billion
The net collection of customs duty reduced from Rs 150.7 billion in 2007-2008 to Rs 148.4 billion during 2008-2009, showing negative growth of 1.5 percent. The FBR data on customs duty collection for 2008-2009 showed that the reasons for this reduction are exemption of wheat from customs duty, decline in the international petroleum prices, especially high speed diesel, in the second half of 2008-09, and overall slow down in imports more... (BR)

POL prices may be reduced from October 1
The government is likely to reduce the prices of petroleum products, effective from October 1, in the range of Rs 1.50 to 4.50 per litre in line with reduction in global oil prices. Prime Minister Yousuf Raza Gilani is likely to approve the summary in this respect on Wednesday more... (BR)

Politics

Supreme Court moved against promotion of 51 bureaucrats
The Supreme Court on Tuesday was moved against the promotions of 51 bureaucrats to Grade-22, saying that the policy was based on pick and choose, mainly applying favouritism and nepotism. Senior bureaucrat Nazir Ahmed Chaudhry, Member, Income Tax (Appellate Tribunal), filed the petition through counsel Dr M Aslam Khakai under Article 184(3) of the Constitution more... (BR)

Patterson says Quetta Shura high on US list
‘You cannot tolerate vipers in your bosom… Our concern is whether Pakistan really controls its territory.’ more... (D)

‘World should investigate Kashmir rights abuses'
Foreign Minister Shah Mehmood Qureshi says an international inquiry should be conducted to investigate the recent killings of Kashmiris by Indian security forces, DawnNews reported more... (D)

Sector Briefing

ECC decides to import 0.6 million tons of urea: TCP told to float tenders forthwith
The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday approved import of 0.6 million tons of urea through Trading Corporation of Pakistan (TCP), on the insistence of Industries Ministry. Presided over by Federal Minister for Petroleum and Privatisation Naveed Qamar, the ECC meeting also instructed the TCP to float tenders immediately so that the process could be completed within the shortest possible time more... (BR)

PPL planning to increase gas production: Rs 27.7 billion record profit earned in 2008-09
The Pakistan Petroleum Limited (PPL) is planning to increase gas production from Manzalai to 250mcfd (million cubic feet per day). Talking to media after the Annual General Meeting (AGM) here on Tuesday, the company's CEO, Khalid Rehman, said that the PPL management has chalked out a comprehensive strategy with key performance objectives to counter operating challenges and fast track exploration efforts, optimising hydrocarbon reserve replacement and production more... (BR)

Bidding for 53 oil, gas blocks today
The bidding for the largest number of blocks ever is part of a bid to promote self-sufficiency in energy 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
  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.