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May 03 , 2010
Statistics
KSE-100 Index
Previous Index 10,454.63
Current Index 10,428.12
Change % (0.25)%
YTD (CY10) 11.09%
YTD (FY10) 45.60%

International Indicators
  Close %age
BSE-30 17,558.71 0.32%
HANGSENG 21,108.59 1.59%
NIKKEI 255 11,057.40 1.21%
FTSE 5,553.30 (1.15)%
DJIA 11,008.61 (1.42)%
SSEC 2,870.61 0.08%
NASDAQ 2,461.19 (2.02)%

SCRA
April 29 , 2010 9.73
April, 2010 124.45
YTD 516.98

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.24%
6m KIBOR 12.33%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 111.46
Rs/UK 129.07
Rs/US 84.10
Rs/OR 214.40

Commodities
Oil $86.11/barrel
Oil Change in % (0.05)%
Gold $1,178.60/ounce
Gold Change in % (0.18)%

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 23, 2010) 14.98bn
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 24, 2010) Rs4,430bn

NAVs and Returns
as of April 30, 2010
Funds Offer Redemption
POBOP 46.7089/- 46.2418/-
Daily Return 1.99%
POAIIF 51.0033/- 50.4933/-
Daily Return 7.26%
POAIF 53.60/- 52.26/-
Daily Return (111.41)%
POASF 57.38/- 55.95/-
Daily Return (155.90)%
POAF 11.0071/-
Daily Return 11.94%
*Daily Returns are calculated as per MUFAP guidelines

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

Six percent power tariff hike put on hold
The government has put on hold the plan of 6 percent power tariff increase committed to the international financial institutions (IFIs), including Asian Development Bank (ADB), till the new rental power plants (RPPs) and independent power producers (IPPs) start generating 500 MW electricity to ease the power load shedding, Business Recorder has learnt more... (BR)

IMF concerned at inflation, energy crisis: board to meet in mid-May
The International Monetary Fund's board will meet in mid-May to approve the next instalment of Pakistan's $11.3 billion loan but Islamabad must do more to tackle rising inflation and overcome power shortages that stifle the economy, the IMF said on Thursday more... (BR)

KESC starts IPPs dues payment
The Karachi Electric Supply Company (KESC) has started releasing the dues of around Rs 7 billion to the independent power producers (IPPs). The IPPs, which supply at least 250 megawatt (MW) to KESC, were being paid only the day to day expenditure for purchasing furnace oil for the last six to seven months more... (BR)

Politics

Indo-Pak decision to resume talks hailed
Senior Vice President of Pakistan Peoples Party (PPP) AJK and former Minister of the State Ch Muhammad Yasin has welcomed the decision by Pakistan and India to resume talks to resolve all outstanding differences, especially the core issue of Kashmir more... (BR)

BB murder probe Telecom record allegedly changed
The Special Investigation Group of FIA investigating Benazir Bhutto’s murder case has detected that the telecommunication record book had been more... (D)

All out efforts to bring about economic stability: Prime Minister
Prime Mini-ster Yousuf Raza Gilani said on Sunday that the government would make all-out efforts to bring about economic stability through optimum utilisation of available resources. The priorities before the government, he added, are to overcome energy crisis, unemployment and price hike more... (BR)

Sector Briefing

Fertiliser firms to raise prices by Rs75
Fertiliser companies have decided to raise prices by Rs60 to 75 per bag. A 50-kg bag of urea - the most commonly used fertiliser, would now cost Rs840 to 855 more... (D)

ECC may review POL pricing formula today
The Economic Co-ordination Committee (ECC) of the Cabinet, which is scheduled to meet on Monday, is likely to review petroleum products' pricing formula in the light of the Judicial Commission's recommendations, sources told Business Recorder more... (BR)

PNSC inducts three Aframax oil tankers in fleet
The induction ceremony of three Aframax oil tankers in the fleet of Pakistan National Shipping Corporation (PNSC), was held on-board M.T. Lahore which was berthed at Oil Pier- 3 near Keamari here on Sunday. Federal Minister for Ports and Shipping, Senator Baber Khan Ghauri was the chief guest of the induction ceremony 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
    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.