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October 20, 2009
Statistics
KSE-100 Index
Previous Index 9,838.12
Current Index 9,411.29
Change % (4.34)%
YTD (CY09) 60.50%
YTD (FY10) 31.40%

International Indicators
  Close %age
BSE-30 17,322.82 0.74%
HANGSENG 22,200.46 1.23%
NIKKEI 255 10,236.51 (0.21)%
FTSE 5,281.54 1.80%
DJIA 10,092.19 0.96%
SSEC 3,038.27 2.07%
NASDAQ 2,176.32 0.91%

SCRA
Oct 16 , 2009 0.757
Oct, 2009 76.923
YTD 301.723

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 12.65%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 123.83
Rs/UK 135.90
Rs/US 83.39
Rs/OR 217.24

Commodities
Oil $79.80/barrel
Oil Change in % 0.24%
Gold $1,067.00/ounce
Gold Change in % 0.84%

Inflation
CPI Gen. - YoY (Sep 09) 10.10%
CPI Gen. - FY10 (Jul -Sep 09) 10.70%
NFNE Core INFL - YoY (Sep 09) 11.90%
NFNE Core INFL - FY10 (Jul-Sep 09) 12.90%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Oct 10, 2009) 14.46bn
Trade Deficit (Sep 09) $(3.09)bn
Curr. A/C (Aug 09) $(527)mn
Remittances (Jul -Sep 09) $2.33bn
Foreign Investment (Jul -Sep-09) $671.1mn
All Sch. Banks Deposit Base (Oct 10, 2009) Rs4,133bn

NAVs and Returns
as of Oct 19, 2009
Funds Offer Redemption
POBOP 51.3769/- 50.8631/-
Daily Return 9.82%
POAIIF 52.9265/- 52.3972/-
Daily Return 8.04%
POAIF 55.42/- 54.03/-
Daily Return (236.71)%
POASF 56.08/- 54.68/-
Daily Return (233.93)%
POAF 10.3164/-
Daily Return 11.60%
*Daily Returns are calculated as per MUFAP guidelines

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

Talks with IMF to begin at Dubai on November 2
An IMF mission will reach Dubai on November 2 to start 10-day discussions with Pakistan's officials for end-September targets of its $10.1 billion Stand-By Arrangement, an official said. "The talks are scheduled in Dubai from November 2 to November 11, focusing on the targets fixed until September 2009," the official said more... (BR)

SBP launches new scheme to boost remittances
'Pakistan Remittance Initiative' (PRI) has launched a special marketing expenses reimbursement scheme for overseas entities having specific home remittances-related arrangements with banks in Pakistan to make additional efforts to facilitate remittances flow through formal channels more... (BR)

Private sector borrowing down by Rs71bn in Aug
The credit to private sector by the scheduled banks declined by Rs70.93 billion to Rs2.58 trillion year on year (YoY) in August 2009 as compared to Rs2.65 trillion during the same month of last year, according to data released by the State Bank of Pakistan (SBP) more... (FD)

Politics

Kerry says government and army appear to be on the same page
The army and the government appear to be on the same page with respect to the Kerry-Lugar bill, stated Senator John F Kerry after his meetings with country's political and military leadership while talking to a select gathering of editors here on Monday more... (BR)

Ahmadinejad urges Zardari to 'confront' bombers
Iranian President Mahmoud Ahmadinejad on Monday urged his Pakistani counterpart to confront a group which Tehran says is behind the bombing on the Revolutionary Guards that killed dozens more... (BR)

Kayani writes to Mehsuds, seeks tribe's support
‘I am confident they will raise a lashkar (tribal militia) to launch a decisive operation against these tyrannical elements.’ more... (D)

Sector Briefing

Cement prices reduced
Cement prices have been cut down by Rs10 to Rs250 per 50kg bag in Sindh and by Rs17 to Rs223 per 50kg bag in Punjab. The demand of cement has gone down due to the halt in development projects. Government allocated very optimistic amount of Rs646 in budget FY10 for Public Sector Development Programme (PSDP). During 1QFY10, government couldn't release any amount for expenditure on PSDP due to financial constraints as uncertainty prevails on receiving aid from Friends of Democratic Pakistan (FoDP) and Kerry-Lugar Bill more... (FD)

Ministry seeks release of Rs 40 billion for EISF
The Ministry of Textile has approached the Ministry of Finance for the immediate release of Rs 40 billion for Export Investment Support Fund (EISF) which would be spent on textile and clothing industry with a view towards consolidation and value addition of the sector more... (BR)

MCB facing hurdles in running business
The mess between a giant business group and a senior member of a political government has now intensified as the non-CBA staff union led by the general secretary Karachi wing of the ruling party expanded their agitation here Monday 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
  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.