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April 21 , 2010
Statistics
KSE-100 Index
Previous Index 10,669.88
Current Index 10,641.52
Change % (0.27)%
YTD (CY10) 13.37%
YTD (FY10) 48.58%

International Indicators
  Close %age
BSE-30 17,460.58 0.34%
HANGSENG 21,623.38 1.02%
NIKKEI 255 10,900.68 (0.10)%
FTSE 5,783.69 1.00%
DJIA 11,117.06 0.23%
SSEC 2,979.53 (0.03)%
NASDAQ 2,500.31 0.17%

SCRA
April 19 , 2010 0.90
April, 2010 63.85
YTD 456.38

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.28%
6m KIBOR 12.35%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 113.27
Rs/UK 128.78
Rs/US 84.14
Rs/OR 216.01

Commodities
Oil $84.40/barrel
Oil Change in % 0.66%
Gold $1,144.20/ounce
Gold Change in % 0.44%

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 10, 2010) 15.05bn
Trade Balance (Jul-Mar 10) $(10.92)bn
Curr. A/C (Jul-Mar-10) $(2.70)bn
Remittances (Jul -Mar 10) $6.55bn
Foreign Investment (Jul -Mar-10) $1.37bn
All Sch. Banks Deposit Base (Apr 10, 2010) Rs4,451bn

NAVs and Returns
as of April 20, 2010
Funds Offer Redemption
POBOP 47.6326/- 47.1563/-
Daily Return 7.88%
POAIIF 50.8466/- 50.3381/-
Daily Return 8.00%
POAIF 54.31/- 52.95/-
Daily Return (61.63)%
POASF 58.44/- 56.98/-
Daily Return (19.21)%
POAF 10.9671/-
Daily Return 7.24%
*Daily Returns are calculated as per MUFAP guidelines

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

Budget in June
The Finance Ministry, succumbing to the political and other pressures, is now set to present the 2010-11 Budget in the month of June instead of earlier planned by end of May, sources said. A Budget Strategy Paper-II (BSP-II), though, will come in the Parliament to soothe the parliamentarians, giving broader outline and framework of the budget for next three years, encompassing the outcome based budgeting for social sector and other sectors more... (BR)

Monthly provisional revenue: Rs 75 billion collection in 20 days of April a remarkable feat: FBR
The Federal Board of Revenue has shown a massive jump in revenue collection in April 2010, as provisional revenue collection stood at approximately Rs 985 billion during July-April (up to April 19) 2009-10 against Rs 865 billion in the same period last fiscal year, reflecting an increase of Rs 120 billion more... (BR)

Report fears severe food deficits
Pakistan may face serious food deficits and high food inflation with a 2.8 per cent population growth and a decline of 5 per cent in per more... (D)

Politics

Pak may join talks to ban N-matter production: US
The US believes it will be possible to convince Pakistan to join negotiations on a treaty to ban production of fissile materials for nuclear weapons, a senior US diplomat said Tuesday.The UN-backed Conference on Disarmament in Geneva has been considering such a ban. But Pakistan has blocked the start of negotiations on a fissile material cut-off treaty, arguing this would put it at a permanent disadvantage to India more... (FD)

US seeks Pakistan-Afghan reconciliation
“You can’t succeed in one unless you succeed in both,” said US special envoy Richard Holbrooke more... (D)

MFN status for India recommended: panel recommends Wahgah border opening
The Panel of Economists has recommended to the government to consider granting India the status of 'Most Favourite Nation' (MFN) to exploit huge trade potential, as free trade relations with India would enable Pakistan to achieve a higher and more equitable GDP growth. The panel, constituted by the Planning Commission, in its final report has also urged the government to allow import of raw material from India (which is not available locally) by expanding the negative list more... (BR)

Sector Briefing

Nepra's hearing today: KESC seeks Rs0.43/kWh raise in tariff
Bitterly criticised for alarming transmission and distribution losses, de-rated generation and continuing loadshedding, the Abraaj-led more... (D)

Wapda considers discontinuing supply to KESC
Water and Power Development Authority has started considering discontinuing electricity to Karachi Electric Supply Company (KESC). It currently provides 620 MW of electricity to KESC, a private news channel reported. If Wapda ceases supply, loadshedding in Karachi will be extended by five hours everyday, bringing the duration to eight hours. KESC spokesperson said that Wapda will have to provide electricity for five years as per the contract signed between the two companies more... (BR)

HBL secures cash management business from Parazelsus
Habib Bank Limited. (HBL) has secured the cash management business from Parazelsus Pakistan (Private) Limited to manage the collections of their sales proceeds throughout Pakistan. The cash management agreement signing ceremony took place at HBL Cash Management Division Office in Karachi. Ms Saman Sajid - Finance Manager (Parazelsus) and Ms Syeda Tabinda Kazmi - Head of Cash Management (HBL) signed the agreement 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.