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April 02 , 2010
Statistics
KSE-100 Index
Previous Index 10,178.43
Current Index 10,246.77
Change % 0.67%
YTD (CY10) 9.16%
YTD (FY10) 43.07%

International Indicators
  Close %age
BSE-30 17,692.62 0.94%
HANGSENG 21,537.00 1.40%
NIKKEI 255 11,244.40 1.40%
FTSE 5,744.89 1.20%
DJIA 10,927.07 0.65%
SSEC 3,147.42 1.23%
NASDAQ 2,402.58 0.19%

SCRA
Mar 31 , 2010 1.18
March, 2010 98.46
YTD 392.53

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 12.40%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 113.61
Rs/UK 127.82
Rs/US 84.25
Rs/OR 216.71

Commodities
Oil $84.87/barrel
Oil Change in % 1.33%
Gold $1,126.10/ounce
Gold Change in % 1.04%

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 27, 2010) 14.94bn
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 April 01, 2010
Funds Offer Redemption
POBOP 47.1059/- 46.6348/-
Daily Return 9.33%
POAIIF 50.7512/- 50.2437/-
Daily Return 7.46%
POAIF 53.34/- 52.01/-
Daily Return 218.86%
POASF 57.62/- 56.18/-
Daily Return 255.15%
POAF 10.8225/-
Daily Return 11.40%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF board set to meet in coming weeks
The International Monetary Fund's executive board will meet before mid-April to review Pakistan's loan after a meeting this month was postponed to enable a value-added tax law to be submitted to provincial assemblies, the IMF said on Wednesday more... (BR)

Power tariff raise decision delayed
The government has delayed the decision regarding the six percent increase on power tariffs. According to a private news channel quoting sources of the Finance Ministry, the condition of six percent increase was a part to a standby programme of International Monetary Fund (IMF). Country has to arrange Rs 24 billion in case the power tariff are not upped more... (BR)

State Bank relaxes MCGF
With a view to facilitating banks and DFIs lending to Microfinance Banks/NGO Microfinance Institutions (MFBs/MFIs) for broadening outreach of microfinance, the State Bank has simplified the procedure for issuance and payment of claims under the Microfinance Credit Guarantee Facility (MCGF) in consultations with banks/DFIs more... (BR)

Politics

Swiss cases: law minister stumbling block: AG
The Supreme Court was informed on Thursday that the Federal Minister for Law and Justice Babar Awan is the stumbling block in reopening of the Swiss money laundering cases against President Asif Ali Zardari. "My hands are tied, I have no access to the record of Swiss cases," said Attorney General (AG), Anwer Mansoor Khan while explaining his failure to accomplish the task of drafting the letter, which requires the Prime Minister's sanction for revival of Swiss cases more... (BR)

US seeks action against Punjab-based militants
The United States on Thursday called on Pakistan to curb anti-Indian militants, praising Islamabad's recent efforts against extremism but saying it could do more to improve ties with New Delhi. Robert Blake, the assistant secretary of state for South Asia, in late March held talks in India and Pakistan where he said he voiced support for the recent resumption of dialogue between the long-time adversaries more... (BR)

Draft 18th Amendment all set to be tabled today
Senator Mian Raza Rabbani, Chairman of Parliamentary Committee on Constitutional Reforms (PCCR) Thursday handed over the report to Speaker National Assembly and Chairman Senate, local media reported. Draft 18th Amendment would be tabled in both the Houses tomorrow more... (FD)

Sector Briefing

NIB sells 27 percent stake of NAFA to NBP
NIB Bank has sold its 27 percent stake or 6.750 million ordinary shares of National Fullerton Asset Management Company (NAFA) to National Bank of Pakistan (NBP) at a price of Rs 39.83 per share. According to a communiqué sent to KSE here on Thursday, the bank said that the transaction was done on March 31, 2010. NIB Bank's board of directors had already accorded the approval for this sale, in its meeting on January 5, 2010 more... (BR)

New projects push cement sales up
Total local sales in July-Feb 2009-10 surged to 14.6mn tons from 12.8mn tons in the same period of last fiscal more... (D)

PTCL privatisation: Etisalat applies highest standards of transparency
Commenting on media reports attributed to the Government of Pakistan's Federal Minister of Privatisation, Waqar Ahmed Khan, Chairman and Managing Director of ETC - Etisalat, Mohammad Omran recalled that Etisalat's investment in PTCL came in the wake of a welcome invitation and encouragement by the Government of Pakistan to participate in the privatisation process, which the Corporation was pleased to accept given the special and brotherly relations between the UAE and Pakistan 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.