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April 22 , 2010
Statistics
KSE-100 Index
Previous Index 10,641.52
Current Index 10,590.21
Change % (0.48)%
YTD (CY10) 12.82%
YTD (FY10) 47.86%

International Indicators
  Close %age
BSE-30 17,472.56 0.07%
HANGSENG 21,510.00 (0.50)%
NIKKEI 255 11,090.05 1.70%
FTSE 5,723.43 (1.00)%
DJIA 11,124.92 0.07%
SSEC 3,033.28 1.80%
NASDAQ 2,504.61 0.17%

SCRA
April 20 , 2010 2.28
April, 2010 67.03
YTD 459.56

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 112.88
Rs/UK 129.19
Rs/US 84.19
Rs/OR 215.81

Commodities
Oil $83.46/barrel
Oil Change in % (0.26)%
Gold $1,146.40/ounce
Gold Change in % (0.21)%

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 17, 2010) Rs4,415bn

NAVs and Returns
as of April 21, 2010
Funds Offer Redemption
POBOP 47.6428/- 47.1664/-
Daily Return 8.13%
POAIIF 50.8687/- 50.3600/-
Daily Return 17.21%
POAIF 54.15/- 52.80/-
Daily Return (103.40)%
POASF 58.18/- 56.73/-
Daily Return (160.14)%
POAF 10.9781/-
Daily Return 44.18%
*Daily Returns are calculated as per MUFAP guidelines

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

Overcoming power crisis: it will take three years or more, Cabinet told
The Cabinet was informed that short and medium term measures of two days energy conference would ease the power crisis but total eradication would take at least three years, sources told Business Recorder more... (BR)

IMF nudges up world GDP view; fiscal fears mount
The global economy is recovering from recession more quickly than expected but rescue efforts have worsened public finances, and if not reined in, will lead to a "debt explosion," the IMF said on Wednesday. Laying out its priorities ahead of annual meetings of global financial leaders in Washington, the Fund warned more must be done to fix an unbalanced world economy and said major currencies would need to weaken to put the balance straight more... (BR)

Six percent power tariff hike: IMF may be approached for waiver
Pakistan may again approach the International Monetary Fund (IMF) for waiver of 6 percent increase in power tariff, due from April, after a comprehensive strategy based on long-, medium- and short-term measures being announced by Prime Minister Yousaf Raza Gilani to address the energy crisis and resolve the issues of power sector more... (BR)

Politics

Benazir Bhutto's murder: US rejects Gul's allegations
The American Embassy Wednesday rejecting the claim of General Hamid Gul (Retd) regarding US involvement in the assassination of former Prime Minister Benazir Bhutto said that at the time of Ms Bhutto's murder, the US swiftly and publicly condemned the act and called for an independent investigation more... (BR)

Kerry-Lugar Act: over 55 projects may be submitted to US
Pakistan may submit more than 55 projects, including five energy projects costing $6.8 billion to United States to be financed under Kerry Lugar Act, Business Recorder has learnt. US will extend $7.5 billion aid package of the Kerry-Lugar Act during the period from 2010 to 2014. Sources in EAD revealed to the Business Recorder that US wanted to extend aid under Kerry Lugar Act in project mode more... (BR)

18th Amendment Bill: Rabbani warns government of backlash if it fails to implement
Veteran PPP leader, Senator Raza Rabbani on Wednesday warned the government of an "unpleasant backlash" could hit the political system if it failed to implement the newly adopted 18th Amendment. "If the 18th Amendment was not implemented, its fallback will be dangerous and the hopes tied to it will render an unpleasant backlash," he said while answering to a number of questions during his speech at Karachi Press Club's meet the press function more... (BR)

Sector Briefing

KESC to lose entire supply of power from Wapda
Karachi Electric Supply Company (KESC) will lose entire supply of electricity from Water and Power Development Authority (Wapda), if the later reduces further its supply to the company by 50 percent, sources said. It may be recalled that it has already been decided that Wapda would cut its 50 percent power supply to KESC just after the arrival of 232 MW barge mounted rental power plant in Karachi from Turkey more... (BR)

June oil and gas auction: Pakistan sees $170 million in commitments
Pakistan expects to receive $170 million in exploration commitments when it offers 17 oil and gas sites through bidding in June, a top govt official said on Wednesday, as the country seeks to boost production. "We are keeping a few blocks for a subsequent bidding in September," Mohammad Naeem Malik, director general of the Ministry of Petroleum & Natural Resources, told reporters on the sidelines of the Asia Upstream conference organised by Global Pacific Partners in Singapore more... (BR)

177 percent rise in Pakistan Oilfields profit
The profit after tax of Pakistan Oilfields Limited (POL) has significantly increased by 177 percent to Rs 2,278.178 million in the quarter ended March 31, 2010 as compared to Rs 821.818 million earned in the corresponding period of last year. The board of directors of the company in its meeting held on Tuesday declared that the company's earning per share surged to Rs 9.63 in the period under review against Rs 3.47 in the same period a year back 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.