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June 21, 2010
Statistics
KSE-100 Index
Previous Index 9,676.71
Current Index 9,645.71
Change % (0.32)%
YTD (CY10) 2.76%
YTD (FY10) 34.68%

International Indicators
  Close %age
BSE-30 17,570.82 (0.26)%
HANGSENG 20,286.71 0.74%
NIKKEI 255 9,995.02 (0.04)%
FTSE 5,250.80 (0.06)%
DJIA 10,450.64 0.16%
SSEC 2,513.22 (1.84)%
NASDAQ 2,309.80 0.11%

SCRA
June 17 , 2010 (2.32)
June, 2010 16.81
YTD 517.28

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.32%
6m KIBOR 12.38%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 106.24
Rs/UK 126.97
Rs/US 85.54
Rs/OR 217.86

Commodities
Oil $78.61/barrel
Oil Change in % 1.85%
Gold $1,260.60/ounce
Gold Change in % 0.18%

Inflation
CPI Gen. - YoY (May-10) 13.1%
CPI Gen. - FY10 (Jul -09-May 10) 11.6%
NFNE Core INFL - YoY (May-10) 10.3%
NFNE Core INFL - FY10 (Jul-09-May-10) 11.1%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 169.73mn
US$ Reserves (Jun 11, 2010) $15.71bn
Trade Balance (Jul-May 10) $(13.88)bn
Curr. A/C (Jul-May-10) $(2.98)bn
Remittances (Jul -May 10) $8.06bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (Jun 11, 2010) Rs4,583bn

NAVs and Returns
as of June 18, 2010
Funds Offer Redemption
POBOP 45.3484/- 44.8949/-
Daily Return 5.34%
POAIIF 51.5060/-   50.9909/-
Daily Return 8.35%
POAIF 51.19/- 49.91/-
Daily Return (109.37)%
POASF 54.02/- 52.67/-
Daily Return (82.97)%
POAF 11.1029/-
Daily Return 11.09%
*Daily Returns are calculated as per MUFAP guidelines

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

Monetary growth exceeds State Bank target
SBP had announced on many occasions it would keep growth within nine per cent as it was maintained during the last fiscal more... (D)

SOEs' restructuring: opposition backs Senate recommendations
Opposition in the National Assembly supported Senate's recommendations for restructuring of PIA, WAPDA, PEPCO, Pakistan Steel and Pakistan Railways for running them under public-private partnership. Opening the debate in the lower House on the general recommendation made by Senate for incorporation in the budget more... (BR)

Due to Afghan turmoil: Pakistan's economy suffers over $3 trillion loss
The business community across the country on Sunday urged United States (US) President Obama's special representative Richard Holbrooke, currently visiting Pakistan, to help provide direct access to Pakistani products in the US markets as Pakistan's economy has suffered a huge loss of $3 trillion, directly or indirectly, due to turmoil in Afghanistan and the war against terror in the region more... (BR)


Politics

Holbrooke changes his stance on IP deal
Pakistan should be wary of committing to an Iran-Pakistan gas pipeline because anticipated US sanctions on Iran could hit Pakistani companies, the US special representative to the region said on Sunday. (On Saturday, Holbrooke said that his country has no concern over the gas deal between Iran and Pakistan) more... (BR)

American forces will never cross Pakistan border
Corruption is not limited to a single country but has become international problem which should be controlled, the US special envoy for Pakistan and Afghanistan Richard Holbrooke said Sunday more... (FD)

Indian blocking of water to hurt Pakistani rice crop
Pakistan's 2010-2011 season rice crop is expected to drop by 14 percent versus the year earlier as India limits water supplies to Pakistan, a board member on Pakistan's Rice Exports Association told Reuters on Sunday more... (BR)


Sector Briefing

Wellhead gas could be priced up by 5pc
PPL to benefit the most from this big hike
The semiannual wellhead gas prices for FY11 are expected to balloon by 2-to-5 per cent HoH. According to "The Financial Daily" analysis this revision would be based on Arab Light and HSFO prices in the period Dec 09-May10, during which fuel prices ascended, while exchange rate descended by 2 per cent more... (FD)

Deregulation of POL prices proposed
The government has decided to deregulate the prices of all petroleum products with an improved monitoring role for the Oil and Gas Regulatory Authority, abolish guaranteed inland freight equalisation margins (IFEM) to refineries and marketing companies and disallow a 7.5 per cent deemed duty on diesel to the refining industry more... (D)

BPP plans to launch Byco brand lubricants
Byco Petroleum Pakistan (BPP), formerly known as Bosicor Pakistan Limited, has planned to launch Byco brand lubricants (BBL) for both the automotive and industrial sectors. This was announced by Kalim A. Siddiqui, President, Petroleum Marketing while addressing the participants of the launching ceremony of Byco brand at a local hotel here on late Saturday night 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.