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June 22, 2010
Statistics
KSE-100 Index
Previous Index 9,645.71
Current Index 9,651.35
Change % 0.06%
YTD (CY10) 2.82%
YTD (FY10) 34.75%

International Indicators
  Close %age
BSE-30 17,876.55 1.74%
HANGSENG 20,912.18 3.10%
NIKKEI 255 10,238.01 2.40%
FTSE 5,299.11 0.90%
DJIA 10,442.41 (0.08)%
SSEC 2,586.21 2.90%
NASDAQ 2,289.09 (0.90)%

SCRA
June 18 , 2010 (0.06)
June, 2010 16.75
YTD 517.22

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 12.37%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 106.29
Rs/UK 127.13
Rs/US 85.54
Rs/OR 217.80

Commodities
Oil $77.10/barrel
Oil Change in % (0.93)%
Gold $1,239.40/ounce
Gold Change in % (0.10)%

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 21, 2010
Funds Offer Redemption
POBOP 45.1992/- 44.7472/-
Daily Return (33.03)%
POAIIF 51.5398/-   51.0244/-
Daily Return 8.32%
POAIF 51.20/- 49.92/-
Daily Return 2.44%
POASF 53.57/- 52.23/-
Daily Return (101.64)%
POAF 11.1158/-
Daily Return 15.17%
*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)

Trade deficit target may not be achieved
Pakistan may not be able to achieve annual trade deficit target of $10.7 billion as trade deficit for July-April 2009-10 stood at $13.884 billion. According to Annual Plan 2010-11, the trade deficit for 2009-10 would be $10.7 billion. Total exports for 2009-10 have been estimated $19.2 billion against the target of $18.3 billion, while imports are expected to be $29.09 billion, compared to the target of $28.9 billion more... (BR)

SECP officials to meet KSE board today
The high officials of Securities and Exchange Commission of Pakistan (SECP) would hold a meeting with the board of directors of Karachi Stock Exchange (KSE) and some senior members of the exchange here, Tuesday. It has been announced that the draft Securities (Margin Financing, Lending, Borrowing and Pledging) Rule 2010 would be discussed in the meeting more... (BR)


Politics

Pakistan will abide by US sanctions on Iran: Prime Minister
Pakistan will abide by any US sanctions on Iran, which Washington has warned could hit Pakistani companies involved in a $7.6 billion Iran-Pakistan gas pipeline deal, the prime minister said on Monday. Prime Minister Yusuf Raza Gilani's remarks came the day after US Special Envoy for Afghanistan and Pakistan Richard Holbrooke warned Islamabad against becoming too committed to the project because of the expected sanctions' effects more... (BR)

US author calls Afghanistan war 'pointless'
The United States should pull its troops out of Afghanistan because the war cannot be won and neighbouring Pakistan is funding the Taliban to undermine US interests, the author of a new book claims. Journalist and veteran Afghanistan expert Jere Van Dyk is intimate with the war-torn country, after spending 45 harrowing days in 2008 jailed there and terrified he would be killed more... (BR)

Benazir's murder: Pakistan raises 'objections' on UN body report
Pakistan has raised objections on some parts of the UN commission probe report into the assassination of former Primer Minister Benazir Bhutto, a private TV channel reported late Monday more... (BR)


Sector Briefing

Deregulation of petrol price: MoP top guns planning to make refineries, OMCs richer
The top guns of the Ministry of Petroleum and Natural Resources have planned to make the oil refineries and oil marketing companies (OMCs) richer by placing an upper cap on import price for locally produced petrol sale price while deregulating its ex-refinery price at the cost of consumers in new oil pricing mechanism, Business Recorder has learnt more... (BR)

KESC resale without approval, says minister
The Sindh government on Saturday admitted that no approval was obtained by the previous owners of the Karachi Electric Supply Company (KESC) from the provincial irrigation and power department at the time of the power utility’s resale to its current owners more... (D)

Failed fast-track power projects: MoF, PC and Nepra avert loss of millions of dollars
The Finance Ministry, the Planning Commission, and Nepra have jointly averted loss of millions of dollars in the fast track power projects under the guise of waiver from penalties, official documents and well placed sources in the Water and Power Ministry told Business Recorder 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.