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October 09, 2009
Statistics
KSE-100 Index
Previous Index 9,836.50
Current Index 9,740.87
Change % (0.97)%
YTD (CY09) 66.10%
YTD (FY10) 36.00%

International Indicators
  Close %age
BSE-30 16,843.54 0.22%
HANGSENG 21,492.90 1.18%
NIKKEI 255 9,832.47 0.34%
FTSE 5,154.64 0.90%
DJIA 9,786.87 0.63%
SSEC 2,886.20 3.84%
NASDAQ 2,123.93 0.64%

SCRA
Oct 07 , 2009 0.209
Oct, 2009 25.348
YTD 250.148

Money Market Updates
6m T-bill (Oct 07, 2009) 12.59%
12m T-bill (Oct 07, 2009) 12.61%
3m KIBOR 12.60%
6m KIBOR 12.66%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 122.86
Rs/UK 133.16
Rs/US 83.28
Rs/OR 217.14

Commodities
Oil $71.20/barrel
Oil Change in % (0.68)%
Gold $1,047.70/ounce
Gold Change in % (0.81)%

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 $1,046
Population 167.63mn
US$ Reserves (Oct 03, 2009) 14.75bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Aug 09) $(527)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul -Aug-09) $412.2mn
All Sch. Banks Deposit Base (Oct 03, 2009) Rs4,124bn

NAVs and Returns
as of Oct 08, 2009
Funds Offer Redemption
POBOP 51.4942/- 50.9793/-
Daily Return 7.19%
POAIIF 52.8018/- 52.2738/-
Daily Return 7.98%
POAIF 55.55/- 54.16/-
Daily Return (413.11)%
POASF 56.55/- 55.14/-
Daily Return (158.18)%
POAF 10.2757/-
Daily Return (15.67)%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan's foreign exchange reserves rise to $14.75 billion
The country's foreign exchange reserves rose to $14.75 billion in the week that ended on October 3 compared with $14.49 billion the previous week, the State Bank of Pakistan said on Thursday. Reserves held by the SBP were $11.17 billion compared with $10.94 billion a week earlier, while those held by commercial banks edged up to $3.58 billion from $3.55 billion a week earlier, said bank spokesman Syed Wasimuddin more... (BR)

'Expatriates must send remittances through banking system'
Federal Minister for Interior, Rehman Malik on Thursday called upon the overseas Pakistanis to send their remittances through proper banking system to help strengthen the country's economy. "If expatriates stop sending their money through illegal Hundi system and use proper banking system, Pakistan needs no Kerry-Lugar Bill to run the country's affairs," Malik said while talking to media outside the Parliament House more... (BR)

Six percent increase in power tariff to have devastating effect on exports
Six percent increase in electricity tariff and forced closure of gas would have devastating repercussions on our national export and overall textile industry, contended Mian Aftab Ahmed, Chairman All Pakistan Textile Processing Mills Association (APTPMA) while talking to newsmen here on Thursday more... (BR)

Politics

US sees no threat to civilian government: Army's concern over bill
The United States has said it sees no threat to the elected Pakistani government in the wake of Pakistani military's public expression of concern over parts of the recently passed Kerry-Lugar Bill on $7.5 billion US economic assistance for the key South Asian anti-terror partner. "I don't think it is a threat to - you know, to the civilian government in Pakistan," Assistant Secretary of State Philip J Crowley said at a briefing, when asked to comment on the subject more... (BR)

Hashmi's 'advice' to army
Pakistan Muslim League-N leader Javed Hashmi has said the parliament's supremacy will have to be ensured for country's bright future. While talking to reporters outside the parliament here on Thursday, Hashmi said the Pakistan Army should respect the parliament and be strict in performing its constitutional duties. The PML-N leader said the parliament's supremacy will have to be ensured more... (BR)

PPP not to contest by polls against PML-N: Zardari
President Asif Ali Zardari has said that the PPP will not field candidates against the PML-N in the upcoming by polls more... (D)

Sector Briefing

Oil and gas reserves discovered in Sinjhoro Block
Oil and Gas Development Company Limited (OGDCL) on behalf of Sinjhoro Joint Venture has made an oil and gas discovery from its Baloch Exploratory Well No 1, which is located in Sinjhoro Block in District Sanghar, Sindh. The Joint Venture Companies of OGDCL, OPI and Government Holding Limited having a pre-commercial working interest of 76 percent, 19 19 percent, and 5 percent (carried) respectively, it was officially learnt more... (BR)

Gas pricing agreements: Balochistan seeks modifications
Balochistan province has requested the federal government to modify pricing agreements with oil and gas production companies to increase wellhead price with the objective of increasing its royalty. Under the existing formula, Balochistan gets 12.5 percent royalty on liquid and gaseous hydrocarbons such as LPG, NGL, solvent oil, gasoline as well as all the substances, including sulphur, produced in association with such hydrocarbons more... (BR)

$74.4 million mobilisation advance paid to five RPPs
The government has reportedly paid 74.402 million dollars mobilisation advance to five Rental Power Plants (RPPs) with total capacity of 706 MW after completion of revised procedural requirements. However, the criteria employed to select RPPs for mobilisation advance has been questioned by analysts 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.