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March 31 , 2010
Statistics
KSE-100 Index
Previous Index 10,056.46
Current Index 10,073.77
Change % 0.17%
YTD (CY10) 7.32%
YTD (FY10) 40.65%

International Indicators
  Close %age
BSE-30 17,590.17 (0.68)%
HANGSENG 21,374.79 0.65%
NIKKEI 255 11,097.14 1.00%
FTSE 5,672.32 (0.70)%
DJIA 10,907.42 0.11%
SSEC 3,128.47 0.15%
NASDAQ 2,410.69 0.26%

SCRA
Mar 29 , 2010 1.99
March, 2010 97.12
YTD 391.19

Money Market Updates
6m T-bill 24-Mar-10 12.30%
12m T-bill 24-Mar-10 12.36%
3m KIBOR 12.34%
6m KIBOR 12.41%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 113.27
Rs/UK 125.94
Rs/US 84.00
Rs/OR 215.32

Commodities
Oil $82.40/barrel
Oil Change in % 0.04%
Gold $1,108.90/ounce
Gold Change in % 0.29%

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 30, 2010
Funds Offer Redemption
POBOP 47.0846/- 46.6138/-
Daily Return 7.89%
POAIIF 50.7311/- 50.2238/-
Daily Return 7.46%
POAIF 52.79/- 51.47/-
Daily Return (35.42)%
POASF 56.95/- 55.53/-
Daily Return (45.95)%
POAF 10.8160/-
Daily Return 11.78%
*Daily Returns are calculated as per MUFAP guidelines

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

July-December public sector spending up by 21 percent
Consolidated public sector expenditure posted an increased of 21 percent, to Rs 1313.2 billion, during first half of current fiscal year, mainly due to higher-than-expected security outlays and increase in the power sector subsidies. During the period, current expenditure also increased, to Rs 1058.6 billion, reflecting an increase of 15.2 percent compared to 18.6 percent in the same period of last year more... (BR)

Rs 100 billion Sukuk bond issue in May: third attempt to resolve circular debt
The Ministry of Finance is planning to issue Ijara Sukuk bond to retire mounting circular debts before the end of current fiscal year. Sources in the ministry told BR that Rs 100 billion denominated Sukuk bond will be floated in May 2010 more... (BR)

G8 announces Afghanistan Pakistan economic 'initiative'
G8 foreign ministers agreed Monday on an economic "initiative" for the Afghanistan-Pakistan border regions, Canadian Foreign Minister Lawrence Cannon said. "Stability in the region is critical for global security," Cannon told reporters at the start of two days of G8 talks more... (BR)

Politics

FIA official rearrested: Supreme Court orders NAB to implement verdict on NRO
The Supreme Court on Tuesday questioned Chairman of National Accountability Bureau (NAB) as to why he was making constant references to presidential immunity in re-opening Swiss corruption cases involving 60 million dollars, since the President had not claimed 'protection' under the Constitution more... (BR)

Pak-US strategic dialogue was a good step forward: Wall Street Journal
The United States must deliver what Pakistan needs rapidly, and without too much intrusive monitoring of its strategic nuclear assets, the US newspaper 'the Wall Street Journal' writes while commenting on last week's Pakistan-US strategic dialogue held in Washington more... (BR)

Benazir murder: UN delays release of report at government request
Delivery of a UN report on the assassination of former Prime Minister Benazir Bhutto has been delayed by over two weeks at the urgent request of Pakistan, the United Nations said on Tuesday. The report follows a nine-month inquiry by a three-person UN panel and was due to be presented on Tuesday to Secretary-General Ban Ki-moon more... (BR)

Sector Briefing

Maple Leaf given new lease of life
Maple Leaf Cement Factory Limited has entered into agreements with lender banks for restructuring of its colossal debts more... (D)

217.3 megawatts: EEL power plant at Qadirpur goes functional
Engro Energy Limited (EEL), a 95 percent owned subsidiary of Engro Corporation Limited, has announced the achievement of its targeted Commercial Operations Date (COD) at the company's Qadirpur Power Plant Project. The 217.3 MW (net) power plant became fully operational at midnight on Friday, March 26, 2010 more... (BR)

DAP sales advance by 41.78pc for 2MCY10Staff Reporter
Fertiliser makers and importers were able to sell 984,168 tonnes of urea for the first two months of the current calendar year (2MCY10), which is 8.53 per cent down when compared with 1,075,980 tonne sales for 2MCY09, NFDC data showed Tuesday more... (FD)

(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.