June 8 , 2010
KSE-100 Index
Previous Index 9,521.15
Current Index 9,791.64
Change % 2.84%
YTD (CY10) 4.31%
YTD (FY10) 36.71%

International Indicators
  Close %age
BSE-30 16,847.79 0.40%
HANGSENG 19,378.15 (2.03)%
NIKKEI 255 9,520.80 (3.84)%
FTSE 5,069.06 (1.11)%
DJIA 9,816.49 (1.16)%
SSEC 2,518.27 0.26%
NASDAQ 2,173.90 (2.04)%

June 4 , 2010 0.35
MayJune, 2010 2.62
YTD 503.08

Money Market Updates
6m T-bill 02-June-10 12.10%
12m T-bil 02-June-10 12.19%
3m KIBOR 12.25%
6m KIBOR 12.35%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 101.86
Rs/UK 123.46
Rs/US 85.49
Rs/OR 221.25

Oil $71.80/barrel
Oil Change in % 0.50%
Gold $1,239.00/ounce
Gold Change in % (0.15)%

CPI Gen. - YoY (Apr-10) 13.3%
CPI Gen. - FY10 (Jul -09-Apr 10) 11.5%
NFNE Core INFL - YoY (Apr-10) 10.6%
NFNE Core INFL - FY10 (Jul-09-Apr-10) 11.2%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,046
Population 169.69mn
US$ Reserves (May 28, 2010) $16.01bn
Trade Balance (Jul-Apr 10) $(12.24)bn
Curr. A/C (Jul-Apr-10) $(3.06)bn
Remittances (Jul -Apr 10) $7.31bn
Foreign Investment (Jul -Apr-10) $1.73bn
All Sch. Banks Deposit Base (Apr 24, 2010) Rs4,430bn

NAVs and Returns
as of June 7, 2010
Funds Offer Redemption
POBOP 45.9702/- 45.5105/-
Daily Return 5.3%
POAIIF 51.3885/-   50.8746/-
Daily Return 7.78%
POAIF 52.23/- 50.92/-
Daily Return 76.94%
POASF 54.92/- 53.55/-
Daily Return 47.90%
POAF 11.06/-
Daily Return 33.04%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan opens export centre in China
A Pakistan business and export centre was opened in China on Monday during the third South Asian Countries Commodities Fair in Kunming, capital of Yunnan province of China, said a press release more... (The News)

Non-filers of income tax returns: FBR empowered to block imports

The Federal Board of Revenue (FBR) has obtained legal backing from the federal government through Finance Bill 2010 to block imports of non-filers of income tax returns by declaring non-compliant taxpayers as 'inactive'. Sources told Business Recorder here on Monday that the FBR has introduced section 181A in the Income Tax Ordinance, 2001 through Finance Bill 2010 to improve compliance of persons registered with the income tax department more... (BR)

Credit risk, infected loans major challenges: SBP's quarterly performance review of banking system
The State Bank of Pakistan on Monday said that challenging economic environment, power shortages and security situation have increased the risk, and heightened credit risk and rising portfolio of infected loans remain major challenges for the banking system more... (BR)

Rs 1,188.2 billion collected in July-May period: shortfall of Rs 52.2 billion

The provisional collection by Federal Board of Revenue (FBR) during July-May (2009-10) has amounted to Rs 1136 billion, against the target of Rs 1188.2 billion, reflecting a shortfall of Rs 52.2 billion. Sources told Business Recorder here on Monday that the provisional collection in May stood at Rs 111 billion, against the target of Rs 128 billion. more... (BR)


Writing to reopen Swiss cases futile, SC told
The government on Monday termed communication with the Swiss authorities for reopening of cases against President Asif Ali Zardar as a ‘futile exercise' as no case was pending that could be legally revived more... (The News)

Good ties with Pakistan in India's interests: Singh
Indian Prime Minister Manmohan Singh on Monday said ìwe wish to carry forward the dialogue process in the regionî. more... (The News)

Sector Briefing

OMCs, refineries: turnover tax relief to continue
The exemption of turnover tax would continue for oil marketing companies (OMCs)and refineries during the next fiscal year 2010-11. However, turnover tax for cigarette distributors would be enhanced from 0.1 to 0.2 percent. Sources told Business Recorder here on Monday that the turnover tax at the rate of 0.5 percent was applicable for the last many years on companies suffering losses or not paying taxes due to exemptions or 'brought forward losses' more... (BR)

Federal Budget: government drops Textile Ministry's demand for Rs 46 billion allocation
The fate of the textile industry is in limbo as the government has dropped Textile Ministry's demand to allocate Rs 46 billion for different initiatives that were integral components of the textile policy (2009-14) in budget 2010-11, Business Recorder has learnt reliably. more... (BR)

11-day loadshedding plan for June: SNGPL withdraws notification
Sui Northern Gas Pipelines Ltd (SNGPL) on Monday withdrew its notification of 11 days loadshedding plan for current month issued to All Pakistan CNG Association. Chairman All Pakistan CNG Association, Ghyas Paracha said "SNGPL notices to CNG stations have been cancelled due the strong protest of the association." 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


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.