BasedLine
LOGO
April 01 , 2010
Statistics
KSE-100 Index
Previous Index 10,073.77
Current Index 10,178.43
Change % 1.04%
YTD (CY10) 8.43%
YTD (FY10) 42.11%

International Indicators
  Close %age
BSE-30 17,527.77 (0.35)%
HANGSENG 21,239.35 (0.63)%
NIKKEI 255 11,089.94 (0.10)%
FTSE 5,679.64 0.10%
DJIA 10,856.63 (0.47)%
SSEC 3,109.11 (0.62)%
NASDAQ 2,397.96 (0.53)%

SCRA
Mar 30 , 2010 0.16
March, 2010 97.28
YTD 391.34

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 112.86
Rs/UK 126.97
Rs/US 84.27
Rs/OR 216.19

Commodities
Oil $83.42/barrel
Oil Change in % (0.41)%
Gold $1,112.60/ounce
Gold Change in % (0.17)%

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 27, 2010) Rs4,424bn

NAVs and Returns
as of Mar 31, 2010
Funds Offer Redemption
POBOP 47.0943/- 46.6234/-
Daily Return 7.81%
POAIIF 50.7412/- 50.2338/-
Daily Return 7.54%
POAIF 53.03/- 51.70/-
Daily Return 163.10%
POASF 57.22/- 55.79/-
Daily Return 170.90%
POAF 10.8193/-
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

March tax collection Rs 42.4 billion short of target
The Federal Board of Revenue (FBR) has provisionally collected Rs 92.6 billion in March, against the target of Rs 135 billion, reflecting a shortfall of Rs 42.4 billion. According to figures compiled here on Wednesday, provisional revenue collection for March stood at Rs 92.6 billion, against Rs 103.82 billion collected in the same period of last fiscal year showing a decrease of Rs 11.22 billion more... (BR)

SBP increases EFS, LTFF refinance rates
The State Bank of Pakistan on Wednesday announced raise in the rates of refinance under the Export Finance Scheme (EFS) and Long-Term Financing Facility (LTFF) by 0.50 percent and 1.10 percent, respectively, following IMF condition to eliminate subsidies on loans. The new revised financing rates, under EFS and LTFF, would be charged from April 1, 2010 more... (BR)

There's no immediate risk to ratings: Moody's
Political wrangling in Pakistan is hampering the government's ability to focus on economic issues but poses no immediate risk to its sovereign ratings, Moody's Investors Service said on Wednesday. Moody's has a B3 sovereign rating for Pakistan with a stable outlook more... (BR)

Politics

Revival of Swiss cases: process initiated: NAB
After a lapse of three and half months, National Accountability Bureau (NAB) on Wednesday informed Supreme Court that it had begun implementing its verdict on National Reconciliation Ordinance (NRO) and had also written to the Swiss authorities to reopen the money-laundering case more... (BR)

History made at night
The Parliamentary Committee on Constitutional Reforms (PCCR) on Wednesday night signed the draft of constitutional package on 18th Amendment Bill with consensus, resolving the thorny issues of renaming of NWFP and appointment of judges of superior courts. Reliable sources told Business Recorder that PCCR Chairman Main Raza Rabbani is likely to present the draft of the 18th Amendment Bill 2010 in the Parliament on Friday more... (BR)

Benazir probe report delay precautionary, govt tells NA
A government minister told the National Assembly on Wednesday that Islamabad got the release of a UN probe report on former prime minister more... (D)

Sector Briefing

POL prices increased
The government Wednesday made maximum increase of Rs 3.50 in oil products prices in line with the global oil prices. The new prices will be effective from Thursday (April 1). The price of petrol has been increased by Rs 2.57 per liter, HOBC by Rs 1.50 per liter, kerosene by Rs 3.31, light diesel oil by Rs 2.73, HSD by Rs 3.50, JP-1 (local) by Rs 3.29, JP-4 by Rs 3.41 and JP-8 by Rs 3.30 per liter more... (BR)

New projects push cement sales up
The start of construction work on new small apartments’ projects and large scale renovation of houses have pushed up the local demand and more... (D)

PTCL sell-off deal made in sheer violation of law: minister tells National Assembly
Privatisation Minister Waqar Ahmed Khan on Wednesday informed the National Assembly that the deal of PTCL privatisation with Etisalat was made in sheer violation of laid down rules and procedures. During question-hour session, he informed the house that the said transaction was in no way transparent, as rules were grossly flouted 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.