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March 17 , 2010
Statistics
KSE-100 Index
Previous Index 10,088.45
Current Index 10,017.71
Change % (0.70)%
YTD (CY10) 6.72%
YTD (FY10) 39.87%

International Indicators
  Close %age
BSE-30 17,383.18 1.27%
HANGSENG 21,022.93 (0.27)%
NIKKEI 255 10,721.71 (0.30)%
FTSE 5,620.43 0.48%
DJIA 10,659.23 0.16%
SSEC 2,992.84 0.53%
NASDAQ 2,370.28 0.34%

SCRA
Mar 15 , 2010 7.02
March, 2010 60.12
YTD 354.19

Money Market Updates
6m T-bill 10-Mar-10 12.30%
12m T-bill 10-Mar-10 12.36%
3m KIBOR 12.36%
6m KIBOR 12.43%
10 yrs PIB 12.63%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.85
Rs/UK 127.39
Rs/US 84.53
Rs/OR 217.76

Commodities
Oil $82.15/barrel
Oil Change in % 0.55%
Gold $1,128.00/ounce
Gold Change in % 0.49%

Inflation
CPI Gen. - YoY (Feb 10) 13.00%
CPI Gen. - FY10 (Jul -09-Feb 10) 11.10%
NFNE Core INFL - YoY (Feb-10) 10.10%
NFNE Core INFL - FY10 (Jul-09-Feb-10) 11.40%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Mar 11, 2010) 14.72bn
Trade Balance (Jul-Feb 10) $(9.42)bn
Curr. A/C (Jul-Jan-10) $(2.49)bn
Remittances (Jul -Feb 10) $5.79bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Mar 06, 2010) Rs4,388bn

NAVs and Returns
as of Mar 16, 2010
Funds Offer Redemption
POBOP 47.3943/- 46.9204/-
Daily Return 7.84%
POAIIF 50.5521/- 50.0466/-
Daily Return 7.33%
POAIF 52.76/- 51.44/-
Daily Return (92.01)%
POASF 57.21/- 55.78/-
Daily Return (97.89)%
POAF 10.8228/-
Daily Return 11.77%
*Daily Returns are calculated as per MUFAP guidelines

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

Plan to set revenue target at Rs2.47tr
The govt has planned to increase revenue collection to attain the tax-to-GDP ratio of 12pc within three years more... (D)

LSM grows 7.46pc in Jan; Industrial output up 2.34pc in 7MFY10
Pakistan's large scale manufacturing (LSM) sector showed signs of recovery in January 2010 with a growth of 7.46 per cent, Federal Bureau of Statistics (FBS) data said more... (FD)

AWT shows interest in privatisation programme
The Army Welfare Trust (AWT), the Askari group of business enterprises, has expressed its interest to participate in the privatisation more... (D)

Politics

Hafeez Shaikh tipped to be finance adviser
Dr Abdul Hafeez Shaikh, who was privatisation minister in the Musharraf administration, is likely to become the country’s top economic more... (D)

President signs 7th NFC Award
President Asif Ali Zardari on Tuesday signed seventh National Finance Commission (NFC) Award seen as a step towards financial autonomy of the provinces and also a great achievement of the present democratic setup. The signing ceremony was witnessed by the chief ministers of all the provinces, governors, ministers and a large number of parliamentarians more... (BR)

PM Gilani, Shahbaz condemn Taliban
The joint condemnation came a day after the CM met Gen Kayani amid widespread protests over his controversial statement more... (D)

Sector Briefing

Four power plants left with no fuel
The country is expected to plunge into darkness any moment as four key thermal power plants, which produce 4280 MW electricity, have fuel only for a few hours, except Genco-III, Mazafargarh. Official documents, exclusively obtained by Business Recorder, show that Genco-III, which generates 1100 MW, has furnace oil stock for two days, while it received no furnace oil on Tuesday more... (BR)

PSO to supply fuel on cash from April
The Pakistan State Oil (PSO) has decided to provide fuel to its clients on cash payment, instead of credit, from April 1, in a bid to avoid the issue of circular debt which has added to the financial woes of the company. At present, PSO is supplying fuel to its clients, except Pakistan International Airlines (PIA), on credit more... (BR)

Pakistan and Iran sign gas pipeline deal
Pakistan and Iran signed the Heads of Agreement (HOA) and Operational Agreement (OA) in Istanbul on Tuesday, which was earlier finalised and initialled by ISGS and NIOC. The two documents are part of the conditions precedents to be finalised to make the GSPA effective 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.