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March 29 , 2010
Statistics
KSE-100 Index
Previous Index 10,127.03
Current Index 10,137.93
Change % 0.11%
YTD (CY10) 8.00%
YTD (FY10) 41.55%

International Indicators
  Close %age
BSE-30 17,644.76 0.49%
HANGSENG 21,053.11 1.32%
NIKKEI 255 10,996.37 1.55%
FTSE 5,703.00 (0.43)%
DJIA 10,850.36 0.08%
SSEC 3,059.72 1.34%
NASDAQ 2,395.13 (0.10)%

SCRA
Mar 26 , 2010 3.32
March, 2010 95.13
YTD 389.19

Money Market Updates
6m T-bill 24-Mar-10 12.30%
12m T-bill 24-Mar-10 12.36%
3m KIBOR 12.35%
6m KIBOR 12.42%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 112.45
Rs/UK 124.96
Rs/US 83.96
Rs/OR 213.85

Commodities
Oil $80.44/barrel
Oil Change in % 0.55%
Gold $1,107.90/ounce
Gold Change in % 0.23%

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 27, 2010
Funds Offer Redemption
POBOP 47.0508/- 46.5803/-
Daily Return 7.98%
POAIIF 50.7010/- 50.1940/-
Daily Return 7.47%
POAIF 53.02/- 51.69/-
Daily Return (7.06)%
POASF 57.12/- 55.69/-
Daily Return 0.00%
POAF 10.8062/-
Daily Return 17.21%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF defers fifth tranche of $1.2bn
The International Monetary Fund (IMF) has deferred the disbursement of the fifth tranche of $1.2 billion to Pakistan for an indefinite period as the Executive Board meeting scheduled to take place on Wednesday has been postpone more... (D)

Key rate unchanged at 12.5 percent
Private sector credit growth is expected to remain stagnant and banks are expected to charge higher rate on risk-free government guaranteed debt, in order to absorb the cost of ongoing roll-over instead of repayment of outstanding credit, says the State Bank of Pakistan more... (BR)

FBR and E&P companies settle tax-related disputes: MoU signed
The Federal Board of Revenue (FBR) and exploration and production (E&P) companies the other day signed a memorandum of understanding (MoU) to settle tax-related disputes worth nearly Rs 14 billion more... (BR)

Politics

Gilani in bid to break deadlock with PML-N
The PM went to Lahore on Saturday evening to get in touch with CM Shahbaz, his son Hamza or Senator Ishaq Dar more... (D)

Pakistan wants 14 more F-16 jets from US
Pakistan is negotiating with the United States to buy 14 additional F-16 fighter planes, Pakistan defence officials said on Sunday, following talks aimed at reversing tempestuous ties between the allies more... (BR)

IMF waiver may be sought: power tariff raise from April
Pakistan may request for waiver from International Monetary Fund (IMF) in respect of 6 percent increase in electivity tariff from April 1 in the wake of expected backlash from the masses amid growing power outages. Sources in the Ministry of Finance told Business Recorder that the issue of wavier on power tariff would be taken up with the IMF and it would not have any impact on fiscal deficit more... (BR)

Sector Briefing

OGDCL Bonds: World's top 10 investment groups asked to submit proposals
World's top 10 investment groups have been asked to submit proposals along with market assessment for issuance of Oil & Gas Development Company Limited (OGDCL)'s Bonds, to be tabled before Cabinet Committee on Privatisation (CCoP) in the upcoming meeting being scheduled in the following week, in accordance with Privatisation Commission (PC) Ordinance 2000 under Section 25 more... (BR)

Pak-Suzuki raises car prices by Rs15,000
In the absence of any check on car prices by the govt, car assemblers are enjoying a free hand at raising prices more... (D)

Pepco releases Rs four billion to PSO
Pakistan Electric Power Company (Pepco) has released Rs 4 billion to Pakistan State Oil (PSO) on account of fuel supply, Business Recorder has learnt. "Pepco is expected to release Rs 2 billion more on Monday to PSO on account of fuel supply," sources said adding that it is a meager amount being released to PSO. The PSO dues against its clients stood at Rs 110 billion on Friday, putting the organisation in difficult situation to continue smooth fuel supply across the country 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.