BasedLine
LOGO
March 26 , 2010
Statistics
KSE-100 Index
Previous Index 10,146.27
Current Index 10,127.03
Change % (0.19)%
YTD (CY10) 7.88%
YTD (FY10) 41.40%

International Indicators
  Close %age
BSE-30 17,558.85 0.62%
HANGSENG 20,788.00 (1.00)%
NIKKEI 255 10,828.85 0.10%
FTSE 5,727.65 0.88%
DJIA 10,841.21 0.05%
SSEC 3,019.18 (1.23)%
NASDAQ 2,397.41 (0.86)%

SCRA
Mar 24 , 2010 3.74
March, 2010 88.30
YTD 382.36

Money Market Updates
6m T-bill 24-Mar-10 12.30%
12m T-bill 24-Mar-10 12.36%
3m KIBOR 12.36%
6m KIBOR 12.44%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 112.23
Rs/UK 125.44
Rs/US 84.11
Rs/OR 215.24

Commodities
Oil $80.78/barrel
Oil Change in % 0.31%
Gold $1,095.50/ounce
Gold Change in % 0.13%

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 20, 2010) 14.81bn
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 20, 2010) Rs4,393bn

NAVs and Returns
as of Mar 25, 2010
Funds Offer Redemption
POBOP 47.0311/- 46.5608/-
Daily Return 7.90%
POAIIF 50.6810/- 50.1742/-
Daily Return 7.31%
POAIF 52.92/- 51.60/-
Daily Return (63.55)%
POASF 56.99/- 55.57/-
Daily Return (72.11)%
POAF 10.7983/-
Daily Return 6.63%
*Daily Returns are calculated as per MUFAP guidelines

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

Reserves slip to $14.81bn
Foreign exchange reserves eased to $14.81 billion in the week ending on March 20 from $14.85 billion the previous week, the central bank more... (D)

Low CVT collection: FBR sees revenue shortfall of Rs 10 billion
The Federal Board of Revenue will suffer a massive shortfall of around Rs 10 billion due to low collection of 4 percent capital value tax (CVT) levied on immovable property in budget 2009-10. Sources told Business Recorder on Thursday that a revenue impact of Rs 15 billion was budgeted for 2009-10 through enhancement of rate of CVT from 2 to 4 percent more... (BR)

US to provide $125m for energy, power plans
The United States agreed on Wednesday to provide $125 million for energy development in Pakistan and will also assist in thermal power projects more... (D)

Politics

Cooperation on nuclear technology: Qureshi satisfied with US talks
Foreign minister Shah Mehmood Qureshi said on Thursday his team had "very satisfactory" talks with Washington on civilian nuclear co-operation but a senior US official played down prospects of a deal. Foreign Minister Shah Mehmood Qureshi told Reuters in an interview that meetings with US officials on nuclear co-operation, non-proliferation and export controls had gone well more... (BR)

PML-N still has differences with PPP on major issues: Nawaz
Pakistan Muslim League-Nawaz (PML-N) chief Nawaz Sharif on Thursday announced that his party had differences with PPP as there was a lack of consensus on several major issues in the proposed constitutional package more... (BR)

Army ready to forgo hardware: Kayani
We are willing to forgo military equipment to ensure that Pakistan’s energy and economic needs are met, the general said more... (D)

Sector Briefing

Circular debt: IMF may extend March 31 deadline
The International Monetary Fund (IMF) is likely to extend of March 31, 2010 deadline set for the resolution of the most intransigent of all issues ie of circular debt, well-informed sources told Business Recorder. The sources said circular debt is one of the important issues that would be discussed between the top officials of the United States Government (USG) and the Pakistani delegation more... (BR)

Deregulation of IFEM: Rs 15 billion to be set aside to absorb impact of rising oil prices
The government may allocate Rs 15 billion to absorb the impact of rising oil prices in its new oil pricing formula after deregulation of Inland Freight Equalisation Margin (IFEM), Business Recorder has learnt. The judicial commission had recommended controlling deregulation of IFEM by replacing it with primary transportation charges to be built in ex-depot sale price more... (BR)

Shell Petroleum to sell 67.91 percent shares of Shell Gas
In a major development, Shell Petroleum Company Limited (SPCo) has decided to sell its 67.91 percent shares in Shell Gas LPG (Pakistan) Limited (SGP), ostensibly on grounds that it is no longer interested in expansion, sources in Shell told Business Recorder. 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.