March 09 , 2010
KSE-100 Index
Previous Index 9,626.29
Current Index 9,740.19
Change % 1.18%
YTD (CY10) 3.76%
YTD (FY10) 35.99%

International Indicators
  Close %age
BSE-30 17,102.60 0.64%
HANGSENG 21,196.87 1.97%
NIKKEI 255 10,585.92 2.10%
FTSE 5,606.72 0.12%
DJIA 10,552.52 (0.13)%
SSEC 3,053.23 0.73%
NASDAQ 2,332.21 0.25%

Mar 05 , 2010 15.44
March, 2010 29.10
YTD 323.16

Money Market Updates
6m T-bill 24-Feb-10 11.90%
12m T-bill 24-Feb-10 11.98%
3m KIBOR 12.35%
6m KIBOR 12.40%
10 yrs PIB 12.70%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.94
Rs/UK 128.57
Rs/US 84.86
Rs/OR 217.96

Oil $81.47/barrel
Oil Change in % (0.49)%
Gold $1,121.50/ounce
Gold Change in % (0.22)%

CPI Gen. - YoY (Jan 10) 13.70%
CPI Gen. - FY10 (Jul -09-Jan 10) 10.80%
NFNE Core INFL - YoY (Jan-10) 10.30%
NFNE Core INFL - FY10 (Jul-09-Jan-10) 11.60%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Mar 04, 2010) 14.80bn
Trade Balance (Jul-Jan 10) $(8.44)bn
Curr. A/C (Jul-Jan-10) $(2.49)bn
Remittances (Jul -Jan 10) $5.20bn
Foreign Investment (Jul -Jan-10) $1.47bn
All Sch. Banks Deposit Base (Feb 27, 2010) Rs4,396bn

NAVs and Returns
as of Mar 08, 2010
Funds Offer Redemption
POBOP 47.3160/- 46.8428/-
Daily Return 7.85%
POAIIF 50.4742/- 49.9695/-
Daily Return 7.42%
POAIF 52.43/- 51.12/-
Daily Return 60.89%
POASF 57.07/- 55.64/-
Daily Return 69.14%
POAF 10.7901/-
Daily Return 12.95%
*Daily Returns are calculated as per MUFAP guidelines

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

Fourth IMF tranche in peril: Tarin's successor not chosen yet
President Asif Zardari and Prime Minister Yousuf Raza Gilani could not agree on the appointment of Shaukat Tarin's replacement despite a stern warning from the Ministry of Finance that the absence of the head of Ministry of Finance with right credentials could possibly result in a delay in the release of 4th tranche ($1.2 billion) from the IMF before the end of current month more... (BR)

Pakistan may receive meagre $831 million from FoDP in fiscal year 2010
Pakistan is likely to receive a meagre amount of $831 million against $2.3 billion expected inflows from Friends of Democratic Pakistan (FoDP) during the on-going fiscal year. Sources said so far $571 million have been received from FoDP while another $260 million are expected before the close of the on-going fiscal year more... (BR)

Government retires Rs 20 billion bank loans
The government retired Rs 20 billion during last week of February to comply with one of the primary conditions of the IMF for limited budgetary borrowing. The federal and provincial governments borrowed Rs 257 billion from the banking system for budgetary support from July 1, 2009 to February 20, 2010. However, the State Bank of Pakistan on Monday said that the federal and provincial governments had retired Rs 20 billion during the week ended on February 27, 2010 more... (BR)


CoAS calls on President
Chief of Army Staff General Ashfaq Parvez Kayani on Monday called on President Asif Ali Zardari at the Aiwan-e-Sadr. Current security situation in the country was discussed during the meeting more... (BR)

Obama calls entrepreneurs summit with Muslims
The White House on Friday announced a “summit on entrepreneurship” to build economic ties with the Islamic world, part of President Barack more... (D)

Prime Minister to attend second Pak-EU summit in Brussels on April 21
Prime Minister Syed Yusuf Raza Gilani will represent Pakistan at the second Pakistan-EU Summit at Brussels on April 21. A Foreign Office press release on Monday said that Pakistan attaches considerable importance to further deepening and broadening its close co-operative relations with the European Union and its member states more... (BR)

Sector Briefing

OGDC bonds to be traded for $500mnIt's a done deal, will take 2 weeks: Waqar
Government is all set to fetch $500 million by selling Oil & Gas Development Company Limited's (OGDCL) convertible bonds by 30th June 2010, a foreign news agency reported on its website more... (FD)

Jet fuel export to US forces: Parco declines supply to PSO on credit
The Pak-Arab Refinery (Parco) has declined to provide jet fuel to Pakistan State Oil (PSO), on credit, for export to the US-allied forces operating in Afghanistan, Business Recorder has learnt. According to sources, PSO owes Rs 67.6 billion dues to all local oil refineries on account of fuel supply more... (BR)

Fertiliser strategy for 15 years prepared
The Economic Coordination Committee (ECC) will be briefed on the National Fertiliser Strategy (2010-25) for formal approval. The policy 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
Abdul Majid Butt
Research Analyst
  Faiz Malik
Database Manager


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.