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April 14 , 2010
Statistics
KSE-100 Index
Previous Index 10,557.19
Current Index 10,506.20
Change % (0.48)%
YTD (CY10) 11.92%
YTD (FY10) 46.69%

International Indicators
  Close %age
BSE-30 17,821.96 (0.17)%
HANGSENG 22,103.53 (0.16)%
NIKKEI 255 11,161.23 0.80%
FTSE 5,761.66 (0.30)%
DJIA 11,019.42 0.12%
SSEC 3,161.25 1.02%
NASDAQ 2,465.99 0.33%

SCRA
April 12 , 2010 2.50
April, 2010 54.81
YTD 447.33

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.29%
6m KIBOR 12.35%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 113.73
Rs/UK 128.52
Rs/US 83.96
Rs/OR 214.92

Commodities
Oil $84.38/barrel
Oil Change in % 0.39%
Gold $1,156.20/ounce
Gold Change in % 0.24%

Inflation
CPI Gen. - YoY (Mar 10) 12.90%
CPI Gen. - FY10 (Jul -09-Mar 10) 11.29%
NFNE Core INFL - YoY (Mar-10) 9.90%
NFNE Core INFL - FY10 (Jul-09-Mar-10) 11.20%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Apr 03, 2010) 14.96bn
Trade Balance (Jul-Mar 10) $(10.92)bn
Curr. A/C (Jul-Feb-10) $(2.56)bn
Remittances (Jul -Mar 10) $6.55bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Apr 03, 2010) Rs4,426bn

NAVs and Returns
as of April 13, 2010
Funds Offer Redemption
POBOP 47.5497/- 47.0742/-
Daily Return 7.56%
POAIIF 50.8756/- 50.3668/-
Daily Return 7.44%
POAIF 54.22/- 52.86/-
Daily Return (178.65)%
POASF 58.19/- 56.74/-
Daily Return (191.97)%
POAF 10.9505/-
Daily Return 10.89%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan fails to meet IMF condition
Government has failed to achieve one of the primary condition of International Monetary Fund (IMF) to limit its budgetary borrowing at Rs 1,130 billion (stocks), from the central bank by end of March 2010. However central bank has successfully achieved Net Domestic Assets (NDA) and Net Foreign Assets (NFA) targets more... (BR)

Power crisis obstructing growth revival: ADB urges faster economic changes
Pakistan must swiftly end power cuts, boost tax collection and ease violence to secure economic growth and counter fiscal imbalances, According to the Asian Development Outlook 2010 (ADO 2010), issued here on Tuesday Pakistan has struggled to keep its economy afloat with the help of a $11.3 billion loan from the International Monetary Fund (IMF) more... (BR)

Pakistan FY10 GDP likely to be 3pc: ADBAsian Development Bank urges faster economic reforms
Asian Development Bank (ADB) has predicted that Pakistan's economic growth would be a "modest" 3 per cent in FY10, compared with 2 per cent the previous fiscal more... (FD)

Politics

Obama confident of Pakistan nuclear safety
US President Barack Obama said on Tuesday he is confident of the security of Pakistan's nuclear programmes. "I feel confident about Pakistan's security around its nuclear weapons programs but that doesn't mean that there isn't improvement to make in all of our nuclear security programmes," Obama told a news conference at the end of a 47-nation summit designed to prevent nuclear terrorism more... (BR)

MQM proposes '19th Amendment'
Muttahida Qaumi Movement (MQM) Tuesday proposed in the Parliament another amendment (19th amendment) to the constitution to resolve the issue of renaming of the NWFP and remaining problems of the provinces, if any. The PML-N, the PML-Q and Jamaat-i-Islami (JI) staged a token walkout from the Senate against the statement of ANP senior Vice President Haji Muhammad Adeel more... (BR)

NAB criticised for not taking action against BoP scam accused
The name of Law Minister Babar Awan echoed again in the Supreme Court on Tuesday when the Bank of Punjab accused the National more... (D)

Sector Briefing

SBP announces 'Inland Freight Subsidy' payment rule
xThe State Bank of Pakistan on Tuesday announced the procedure for the payment of "Inland Freight Subsidy," which would be 35 percent of inland cost for cement and 50 percent for other sectors. According to SBP's Circular EPD/06/EPP.1 (51)-FS- 2010, government of Pakistan has allowed inland freight subsidy subject to prescribed terms & conditions more... (BR)

Worst gas shortage likely in next three to four years: experts
The country is expected to face worst gas shortage in the next three to four years, considering the fact that the demand is increasing and most of the gas supply projects, expected to commission within next two years, have been delayed or in litigation, experts said. These projects include Uch-II development project, Qadirpur gas compression project, Sinjhoro and Tando Allahyar gas project more... (BR)

Power tariff: minister hints at delaying proposed six percent hike
Government may delay the proposed six percent increase in power tariff to avoid problems caused by the prolonged load shedding across the country. "My first priority is to resolve the issues of load shedding before increasing power tariff," Federal Minister for Water and Power Raja Pervaiz Ashraf said while replying a question regarding the proposed six percent raise in power tariff during a press conference held here on Tuesday 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.