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June 14, 2010
Statistics
KSE-100 Index
Previous Index 9,379.78
Current Index 9,471.12
Change % 0.97%
YTD (CY10) 0.90%
YTD (FY10) 32.24%

International Indicators
  Close %age
BSE-30 17,064.95 0.80%
HANGSENG 19,872.38 1.20%
NIKKEI 255 9,705.255 1.70%
FTSE 5,163.68 0.60%
DJIA 10,211.07 0.38%
SSEC 2,569.94 0.29%
NASDAQ 2,243.60 1.12%

SCRA
June 10 , 2010 1.59
June, 2010 3.03
YTD 503.50

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 12.34%
10 yrs PIB 12.66%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 103.39
Rs/UK 125.70
Rs/US 85.29
Rs/OR 220.02

Commodities
Oil $74.74/barrel
Oil Change in % (0.63)%
Gold $1,218.50/ounce
Gold Change in % 1.12%

Inflation
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 $ 1,051
Population 169.73mn
US$ Reserves (May 28, 2010) $15.87bn
Trade Balance (Jul-May 10) $(13.88)bn
Curr. A/C (Jul-Apr-10) $(3.06)bn
Remittances (Jul -May 10) $8.06bn
Foreign Investment (Jul -Apr-10) $1.73bn
All Sch. Banks Deposit Base (Apr 24, 2010) Rs4,430bn

NAVs and Returns
as of June 14, 2010
Funds Offer Redemption
POBOP 45.9964/- 45.5364/-
Daily Return 5.35%
POAIIF 51.4289/-   50.9146/-
Daily Return 7.43%
POAIF 51.55/- 50.26/-
Daily Return 96.73%
POASF 54.18/- 52.83/-
Daily Return 145.83%
POAF 11.07/-
Daily Return 10.88%
*Daily Returns are calculated as per MUFAP guidelines

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

Private sector credit offtake up at Rs102bn
The growth in private sector credit offtake of the schedule banks has significantly surged during 1st July 2009 to 28th May 2010 (11MFY10). The private sector credit disbursement from the scheduled banks has increased to Rs102.5 billion in the above mentioned period against only Rs12.16 billion witnessed in 11MFY09 mainly due to improvement in economy - resulted into higher working capital requirements and fixed investments by the private sector more... (TFD)

Punjab budget today
Punjab Finance Minister Tanvir Ashraf Kaira will present budget 2010-2011 in the Provincial Assembly here on Monday. The proposed budget is expected to increase its allocations in health and education sectors. Both these portfolios have become totally provincial subjects recently more... (BR)

Materialisation of Rs 422 billion budget projections: Sindh counting on NFC Award commitments
Sindh government is counting on the assurances made by President Asif Zardari and Prime Minister Yousuf Raza Gilani about the fulfilment of federal government's commitments under the NFC Award to meet its budget projections for FY11 more... (BR)

Politics

ISI, Zardari join forces to back Taliban!
London School of Economics report claims Pakistan playing a double-game of astonishing magnitude; Zardari told Taliban prisoners they were arrested because he was under US pressure; Army, presidential spokeswoman more... (N)

Another major BoP scam surfaces in SC
Hamesh Khan, the detained ex-president of the Bank of Punjab (BoP), and Musharraf's main political allies face more trouble as yet another multi-billion corruption scandal involving the purchase of land for a BoP housing society in Lahore has reached the Supreme Court of Pakistan, writes Ahmad Noorani more... (N)

Sector Briefing

Pakistan, Iran sign $7.5 bn gas pipeline project
Pakistan and Iran on Sunday finalised the $7.5 billion gas project dubbed as a “peace pipeline” to start the supply of natural gas to Islamabad from 2014. The landmark agreement was signed by the managing director of the National Iranian Gas Export Company Reza Kasaeizadeh, and his Pakistani counterpart from Inter State Gas Limited, Mohammad Naeem Sharafat more... (BR)

New refinery, oil storage facility planned in 2010-11
The Trans-Asia Refinery has planned to set up an oil refinery at Port Qasim, Karachi, at an estimated cost of $450 million, to meet the domestic requirements of petroleum products. The Hascombe Pvt Limited has also expressed intention to establish an oil storage facility, of 6500 tons, at Shikarpur at an estimated cost of Rs 350 million 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.