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March 22 , 2010
Statistics
KSE-100 Index
Previous Index 10,007.87
Current Index 10,000.93
Change % (0.07)%
YTD (CY10) 6.54%
YTD (FY10) 39.64%

International Indicators
  Close %age
BSE-30 17,578.23 0.34%
HANGSENG 21,370.82 0.19%
NIKKEI 255 10,824.72 0.75%
FTSE 5,650.10 0.13%
DJIA 10,741.98 (0.35)%
SSEC 3,067.75 0.71%
NASDAQ 2,374.41 (0.71)%

SCRA
Mar 19 , 2010 6.60
March, 2010 83.52
YTD 377.58

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 114.09
Rs/UK 126.58
Rs/US 84.38
Rs/OR 215.26

Commodities
Oil $80.25/barrel
Oil Change in % (0.53)%
Gold $1,108.40/ounce
Gold Change in % 0.07%

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 18, 2010) 14.85bn
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 20, 2010
Funds Offer Redemption
POBOP 47.0681/- 46.5974/-
Daily Return (93.58)%
POAIIF 50.5910/- 50.0851/-
Daily Return 7.25%
POAIF 52.65/- 51.33/-
Daily Return 7.11%
POASF 56.71/- 55.29/-
Daily Return (255.66)%
POAF 10.7863/-
Daily Return (78.70)%
*Daily Returns are calculated as per MUFAP guidelines

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

Government likely to raise oil prices by Rs 3-4/ litre
The government is likely to increase oil prices by Rs 3-4 per litre on the back of hike in global oil prices from April 1, 2010. Sources said that at present, the average oil price in gulf market ranged between 77 to 78 dollars per barrel that accounted for Rs3 to Rs 3.15 per litre increase in oil prices in Pakistan more... (BR)

World Bank to provide $250 million for boosting natural gas efficiency project
The World Bank will provide $250 million for 'Natural Gas Production Enhancement and Efficiency Project' to increase availability and affordability of electricity by improving access to natural gas fuel for power generation through gas sector efficiency enhancements more... (BR)

80 (Eighty) amendments proposed: Constitutional Reforms body finalises recommendations
After over 66 marathon sessions, the Parliamentary Committee on Constitutional Reforms has finalised the draft recommendations, proposing 80 amendments to the Constitution. The draft recommendations comprise a 60 page compendium having 14 dissenting notes, reliable sources told Business Recorder more... (BR)

Politics

No talks held with UN envoy: Taliban
“We don’t know what objective Mr Eide wants to achieve by telling such lies,” said a spokesman for the Taliban more... (D)

China to retaliate if targeted by US on yuan
Beijing will retaliate if the United States declares China a currency manipulator and imposes trade sanctions, Commerce Minister Chen Deming said on Sunday, firing the latest salvo in a spat over the value of the yuan more... (BR)

Nothing dramatic expected of Pak-India talks: Krishna
Indian External Affairs Minister S M Krishna said on Sunday that nothing dramatic was expected from Pak-India Secretary - level talks and India wanted to assess Pakistan's position on issues. In an interview with Karan Thapar in Devil's Advocate programme on CNN-IBN news channel, Krishna said he was not disappointed from the outcome of the talks more... (BR)

Sector Briefing

Qadirpur compression project in doldrums
The compression project at Qadirpur gas field is in doldrums due to lack of co-ordination between the Oil and Gas Development Company Limited (OGDC) and the contractors, which has strongly upset the Ministry of Petroleum, Business Recorder has learnt. The gas production from the third largest Qadirpur gas field can reach zero level if the compression project is not completed by June 30, 2010, sources said more... (BR)

SSGC increases gas supply to KESC to 170mmcf per day
The Sui Southern Gas Company (SSGC) has increased gas supply to Karachi Electric Supply Company (KESC) to 170 mmcf per day to meet the rising demand of the power company in the city more... (BR)

22 oil and gas discoveries in two years
A total of fifty nine onshore and offshore exploration wells were drilled in the country from January 2008 onwards out of which twenty two oil/gas discoveries were made. As per break-up, eighteen discoveries are under appraisal, while four have been initially appraised having reserves of 3.27 million barrels of oil and 404 billion cubic feet of gas, it was officially learnt on Saturday 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.