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March 19 , 2010
Statistics
KSE-100 Index
Previous Index 9,989.81
Current Index 10,007.87
Change % 0.18%
YTD (CY10) 6.62%
YTD (FY10) 39.73%

International Indicators
  Close %age
BSE-30 17,519.26 0.17%
HANGSENG 21,330.67 (0.25)%
NIKKEI 255 10,744.03 (1.00)%
FTSE 5,642.62 (0.04)%
DJIA 10,779.17 0.42%
SSEC 3,046.09 (0.14)%
NASDAQ 2,391.28 0.09%

SCRA
Mar 17 , 2010 5.49
March, 2010 71.20
YTD 365.27

Money Market Updates
6m T-bill 10-Mar-10 12.30%
12m T-bill 10-Mar-10 12.36%
3m KIBOR 12.37%
6m KIBOR 12.44%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.68
Rs/UK 129.06
Rs/US 84.43
Rs/OR 216.46

Commodities
Oil $82.05/barrel
Oil Change in % (0.18)%
Gold $1,123.70/ounce
Gold Change in % (0.34)%

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-Feb-10) $(2.56)bn
Remittances (Jul -Feb 10) $5.79bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Mar 13, 2010) Rs4,419bn

NAVs and Returns
as of Mar 18, 2010
Funds Offer Redemption
POBOP 47.4136/- 46.9395/-
Daily Return 7.67%
POAIIF 50.5716/- 50.0659/-
Daily Return 7.25%
POAIF 52.62/- 51.30/-
Daily Return (14.22)%
POASF 57.15/- 55.72/-
Daily Return 72.20%
POAF 10.8288/-
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

July-February current account deficit narrows to $2.563 billion
Current account deficit in the first eight months of the 2009/10 fiscal year was a provisional $2.563 billion, the central bank said on Thursday. That compared with a deficit of $7.962 billion in the same period last fiscal year, the State Bank of Pakistan said more... (BR)

CDWP approves 74 projects worth Rs 510.2 billion
The Central Development Working Party (CDWP) on Thursday approved 74 projects costing Rs 510.2 billion, with a foreign aid component of Rs 125.1 billion. The CDWP meeting, chaired by Deputy Chairman of the Planning Commission Sardar Aseff Ahmad Ali, approved 36 projects costing Rs 326.0 billion of infrastructure sector, 26 projects costing Rs 158.0 billion of social sector and 12 projects costing Rs 26.3 billion related to agriculture and industry sector more... (BR)

Six power plants: US to extend $125 million for rehabilitation
United State (US) has agreed to extend $125 million to energy-starved Pakistan for rehabilitation of six hydro and thermal power plants, official sources told Business Recorder. The sources said US is expected to provide fund for repair and maintenance of units 1, 3 and 4 of Terbela Dam at an estimated cost of $16.5 million that would increase generation by 80 MW more... (BR)

Politics

NAB team to bring back Swiss case record from UK
The team will bring back 12 boxes containing records of President Zardari’s Swiss cases from London. The team will bring back 12 boxes containing records of President Zardari’s cases from the Pakistan High Commission more... (D)

India rules out composite dialogue with Pakistan
Indian National Security Adviser Shivshankar Menon, while responding to a question about the status of engagement with Pakistan after the recent foreign secretary-level talks, said "to our mind, going back to the composite dialogue process does not make sense; We are talking to explore what we can do but it needs two hands to clap." more... (BR)

US should also do more: FM Qureshi
Pakistan has done its bit; it is the time for the US to start delivering, Foreign Minister Qureshi said more... (D)

Sector Briefing

$500 million convertible bonds: five percent OGDCL shares to be offered before June
Federal Minister for Privatisation Senator Waqar Ahmed on Thursday said the government would offer 5 percent shares of Oil and Gas Development Company Limited (OGDCL) for convertible bonds worth $500 million. Briefing media on the agenda items being discussed in the PC board meeting, Waqar said the Privatisation Commission is planning to offer these shares before June 2010 more... (BR)

NBP agrees to give Rs one billion to KESC: row with PSO ends as Ibad intervenes
The loadshedding-hit Karachiites heaved a sigh of relief on Thursday as the National Bank of Pakistan, on the directives of Sindh Governor Dr Ishratul Ebad Khan, agreed to give a short-term loan of Rs 1 billion to the Karachi Electric Supply Company more... (BR)

Over 25 E&P companies agree to pay Rs 14 billion taxes: FBR to sign MoU after receiving amount
The Federal Board of Revenue and Exploration and Production Companies (E&P) companies have agreed to resolve tax related disputes amounting to approximately Rs 14 billion. Official sources told Business Recorder on Thursday that the settlement has been partially based on the decisions of the courts in such issues and some of the issues have been resolved through mutual consultations 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

Separator

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.