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December 16, 2009
Statistics
KSE-100 Index
Previous Index 9,280.16
Current Index 9,266.04
Change % (0.15)%
YTD (CY09) 58.00%
YTD (FY10) 29.40%

International Indicators
  Close %age
BSE-30 16,877.16 (1.29)%
HANGSENG 21,813.92 1.23%
NIKKEI 255 10,083.48 (0.20)%
FTSE 5,285.77 (0.60)%
DJIA 10,452.00 (0.47)%
SSEC 3,274.46 (0.86)%
NASDAQ 2,201.05 (0.50)%

SCRA
Dec 14 , 2009 (2.11)
December, 2009 (48.07)
YTD 266.89

Money Market Updates
6m T-bill (Dec 02, 2009) 12.25%
12m T-bill (Dec 02, 2009) 12.09%
3m KIBOR 12.38%
6m KIBOR 12.45%
10 yrs PIB 12.48%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 123.51
Rs/UK 137.45
Rs/US 84.43
Rs/OR 218.00

Commodities
Oil $70.64/barrel
Oil Change in % (0.07)%
Gold $1,124.00/ounce
Gold Change in % 0.09%

Inflation
CPI Gen. - YoY (Nov 09) 10.50%
CPI Gen. - FY10 (Jul -Nov 09) 10.30%
NFNE Core INFL - YoY (Nov 09) 10.60%
NFNE Core INFL - FY10 (Jul-Nov 09) 12.00%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Dec 05, 2009) 13.57bn
Trade Balance (Jul-Oct 09) $(4.47)bn
Curr. A/C (Jul-Oct- 09) $(1.07)bn
Remittances (Jul -Nov 09) $3.80bn
Foreign Investment (Jul -Oct-09) $910.2mn
All Sch. Banks Deposit Base (Dec 05, 2009) Rs4,242bn

NAVs and Returns
as of Dec 15, 2009
Funds Offer Redemption
POBOP 52.0579/- 51.5373/-
Daily Return (59.99)%
POAIIF 53.4314/- 52.8971/-
Daily Return 7.96%
POAIF 55.73/- 54.34/-
Daily Return (80.43)%
POASF 56.82/- 55.40/-
Daily Return (52.63)%
POAF 10.5223/-
Daily Return 12.91%
*Daily Returns are calculated as per MUFAP guidelines

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

New investment policy to ensure investors' financial security: National Assembly panel informed
National Assembly's standing committee on investment was on Tuesday informed that new investment policy will ensure financial security to foreign/local investors the way lives of the citizens are secured and Commercial Arbitration Act will cover all these aspects along with new Investment Policy 2010-15 more... (BR)

ADB Outlook reinforces World Bank's macroeconomic forecast
The Asian Development Bank (ADB) in its recent report, titled 'Asian Development Outlook 2009 Update', has merely reinforced the earlier World Bank macroeconomic forecast for Pakistan in its report titled 'Pakistan Economic Update September 2009' more... (BR)

IMF conditions adding to ranks of poor: experts
Recent rise in poverty in the country is reminiscent of the wave seen in the 1990s when besides less-developed rural areas it made inroads into urban areas caused mainly by International Monetary Fund’s adjustment programmes more... (NEWS)

Politics

Decision on NRO likely today
The Supreme Court hinted on Tuesday that it might announce a short order today (Wednesday) on challenges against the controversial National Reconciliation Ordinance (NRO). Heading a 17-member larger bench and before adjourning the proceedings, Chief Justice of Pakistan Iftikhar Muhammad Chaudhry more... (DT)

Pakistan Army not planning coup: Petraeus
The United States believes Pakistan’s military has no intention of trying to seize power, US Central Command chief General David Petraeus said on Tuesday morning more... (D)

Awan, Pirzada refuse to appear before NAB
They submitted written statements but refused to appear before NAB which, they said, is a party to the case more... (D)

Sector Briefing

ECC approves Rs 500/50kg bag subsidy on potash fertilizer
The Economic Coordination Committee of the Cabinet on Tuesday decided to provide subsidy of Rs 500 per 50 kilogrammes bag on the import of 50,000 tonnes sulphate of potash and muriate of potash to keep the price of potash fertilizer at the level of Rs 1,900 per bag in the country more... (DT)

India ready to join talks on IPI
India, Pakistan and Iran are likely to hold trilateral talks on the gas pipeline project in January. Iranian Oil Minister's special representative for the project Hojjatollah Ghanimifard said that the talks might resume in January since India declared it was ready to resume trilateral talks on the venture more... (BR)

KESC slashes its generating capacity by 850 megawatts
Despite unabated loadshedding in the city, Karachi Electric Supply Company (KESC) has reduced its power generating capacity by 850 megawatts. According to sources, the 1150 MW Bin Qasim Power Plant was presently being run at a lower capacity of around 300 MW, while keeping the half out of six units switched off, for what KESC says lack of furnace oil and lower gas pressure 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
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.