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November 20, 2009
Statistics
KSE-100 Index
Previous Index 9,144.76
Current Index 9,251.19
Change % 1.16%
YTD (CY09) 57.70%
YTD (FY10) 29.20%

International Indicators
  Close %age
BSE-30 16,785.65 (1.25)%
HANGSENG 22,643.16 (0.86)%
NIKKEI 255 9,549.47 (1.30)%
FTSE 5,267.70 (1.39)%
DJIA 10,332.44 (0.90)%
SSEC 3,320.61 0.53%
NASDAQ 2,156.82 (1.66)%

SCRA
Nov 18 , 2009 4.31
November, 2009 23.40
YTD 318.34

Money Market Updates
6m T-bill (Nov 04, 2009) 12.33%
12m T-bill (Nov-04, 2009) 12.22%
3m KIBOR 12.71%
6m KIBOR 12.72%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.57
Rs/UK 139.44
Rs/US 83.60
Rs/OR 217.60

Commodities
Oil $77.87/barrel
Oil Change in % 0.53%
Gold $1,144.20/ounce
Gold Change in % 0.20%

Inflation
CPI Gen. - YoY (Oct 09) 8.90%
CPI Gen. - FY10 (Jul -Oct 09) 10.20%
NFNE Core INFL - YoY (Oct 09) 11.00%
NFNE Core INFL - FY10 (Jul-Oct 09) 12.40%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Nov 14, 2009) 14.12bn
Trade Balance (Jul-Oct 09) $(4.47)bn
Curr. A/C (Jul-Oct- 09) $(1.07)bn
Remittances (Jul -Oct 09) $3.10bn
Foreign Investment (Jul -Oct-09) $910.2mn
All Sch. Banks Deposit Base (Nov 14, 2009) Rs4,206bn

NAVs and Returns
as of Nov 19, 2009
Funds Offer Redemption
POBOP 51.8638/- 51.3452/-
Daily Return 9.68%
POAIIF 53.1956/- 52.6636/-
Daily Return 9.66%
POAIF 55.76/- 54.37/-
Daily Return 87.48%
POASF 56.32/- 54.91/-
Daily Return 86.62%
POAF 10.4185/-
Daily Return 13.05%
*Daily Returns are calculated as per MUFAP guidelines

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

Current account deficit shrinks by 84 percent
The country's current account deficit has shrunk by 84 percent to some one billion dollars in the first four months of current fiscal year mainly due to rising home remittances and sharp decline in trade deficit. The central bank on Thursday said the country has posted a current account deficit of 1.071 billion dollars in July-October of FY10 as compared to 6.657 billion dollars in the corresponding period of FY09, depicting a decline of 5.586 billion dollars more... (BR)

NFC to fund terror war from 'undivided' divisible pool: revenue generation to go up by 13.9 percent, says Tarin
The National Finance Commission (NFC), which concluded its two-day meeting here Thursday, agreed to create a special fund from, what Finance Minister Shaukat Tarin said, the undivided divisible pool to finance the long and capital-intensive war on terror, in the northern parts of the country. Also, the federal government would underwrite all expenses in Federally Administered Tribal Areas (Fata) and other war-torn areas of the country more... (BR)

CDWP approves 90 projects worth Rs 305 billion
The Central Development Working Party (CDWP) on Thursday approved/recommended 90 projects costing Rs 305 billion with foreign exchange component of Rs 76.5 billion. Out of total approved/recommended projects, 58 projects are of infrastructure sector worth Rs 275 billion and 32 of social sector costing Rs 29.7 billion. The CDWP recommended 27 projects to Ecnec for consideration/approval, each costing over Rs 1 billion more... (BR)

Politics

CCP decisions likely to be invalid after 28th
Ordinances promulgated before Dec 15, 2007, including the competition ordinance, require approval within 120 days more... (D)

Top MQM leaders among NRO beneficiaries
Altaf Hussain, Farooq Sattar, Babar Ghauri and Shoaib Bokhari are among the beneficiaries of the NRO more... (D)

Pakistan, India relationship: Singh's visit may help US find way to open three-way talks
When US President Barack Obama welcomes India's prime minister on a visit to Washington next week, there will be one nervous onlooker: Pakistan. With Obama and Indian Prime Minister Manmohan Singh ready to flesh out a new partnership between the two giant democracies, Pakistan may find its status as the oldest US ally in South Asia threatened by India's new-found political and economic heft in Washington more... (BR)

Sector Briefing

Import pricing parity: ministry wants ECC to continue existing mechanism
The Petroleum Ministry has proposed to the Economic Co-ordination Committee (ECC) of the Cabinet to continue the existing import parity pricing mechanism for local refineries, Business Recorder has learnt. In the guidelines, submitted to the ECC for monitoring furnace oil price by Oil and Gas Regulatory Authority (Ogra), the Petroleum Ministry proposed that more... (BR)

No action taken to cut POL prices despite lapse of three months: Supreme Court observes
The Supreme Court on Thursday observed that despite a lapse of three months no action has been taken by the government on the recommendations of judicial commission to reduce POL prices. A three- member bench of the apex court comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Chaudhry Ijaz Ahmed and Justice Khilji Arif Hussain heard petitions challenging the increase in petroleum products prices more... (BR)

Oil import bill up 29.4pc MoM4MFY10: Imports of oil, food machines, down 33.6pc
Country's oil, machinery and food import bill cumulatively declined by 33.6 per cent to $5.89 billion during the first four months of the current fiscal year (4MFY10) as compared to $8.86 billion in the same period last year, mainly due to plunge in commodity prices in international market and lower textile machinery imports 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
Abdul Majid Butt
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.