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Sep 15, 2010
 
Statistics
KSE-100 Index
Previous Index 9,879.33
Current Index 10,091.25
Change % 0.12%
YTD (CY10) 7.5%
YTD (FY11) 3.80%

International Indicators
  Close %age
BSE-30 19,346.96 0.72
HANGSENG 21,696.00 0.20
NIKKEI 255 9,299.31 (0.70)
FTSE 5,567.41 0.10
DJIA 10,526.49 (0.17)
SSEC 2,673.08 (0.56)
NASDAQ 2,289.77 0.18

SCRA
Sep 9, 2010 0.54
Sep, 2010 -51.32
YTD (FY10) 84.24

Money Market Updates
6m T-bill 08-Sep-10 12.52%
12m T-bil 08-Sep-10 12.66%
3m KIBOR 12.74%
6m KIBOR 12.89%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.38
PKR/GBP 132.13
PKR/USD 85.75
PKR/OMR 219.83

Commodities
Oil $76.21/barrel
Change in % -1.24
Gold $1251.70/ounce
Change in % 1.40

Inflation
CPI Gen. - YoY (Jul-10) 12.34%
CPI Gen. - FY11 (Jul 10) 13.34%
NFNE Core INFL - YoY (Jul-10) 10.3%
NFNE Core INFL - FY11 (Jul-10) 10.3%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.45mn
US$ Reserves (Aug 27, 2010) $16.12bn
Trade Balance (Jul-Jun 10) $(1.45)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Jul 10) $791.18bn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs4,582bn

NAVs and Returns
as of Sep 09, 2010
Funds Offer Redemption
POAIIF 51.4317/-  50.9174/-
Daily Return 7.91%
POAIF 54.00/- 52.65/-
Daily Return 67.17%
POASF 52.66/- 51.34/-
Daily Return 68.90%
POAF 11.13 /-
Daily Return 10.71%
*Daily Returns are calculated as per MUFAP guidelines

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

'Reformed GST' from October 1: ordinance to be promulgated
The government has decided to implement the 'reformed general sales tax' (RGST) from October 1, 2010, for which the Federal Board of Revenue (FBR) would soon start drafting a new law, to be promulgated through an ordinance and placed before the Parliament for passage of the Bill. more... (BR)

FBR broadens tax base by 29 percent
The Federal Board of Revenue (FBR) has succeeded in broadening the tax base by 29 percent, just in one year, by mopping up new companies, associations of persons (AOPs), individuals, salaried persons and employers. Sources told Business Recorder here on Tuesday that there has been an increase of 29 percent in the existing tax base during the period under review, reflecting extraordinary performance of the FBR in discovering new taxpayers. more... (BR)


Proposed Margin Trading System: SECP Policy Board to review final concept paper today

The Securities and Exchange Commission of Pakistan (SECP) Policy Board will review the final concept paper of proposed leverage product 'Margin Trading System' (MTS) in its meeting at Islamabad today (Wednesday). Secretary Finance and Chairman SECP Policy Board Salman Siddique will chair the meeting. The SECP Chairman Salman Shaikh, Commissioner (Company Law Division) Tahir Mahmood and Commissioner Legal Tariq Asif will attend the meeting. more... (BR)

 

 

 

 

 

 

 

Politics

SC disqualifies Balochistan minister
The Supreme Court (SC) Tuesday disqualified Balochistan Labour and Manpower Minister Maulvi Sarwar Mosakhel on the basis of his educational certificate being inadequate.
The Higher Education challenged his success in the SC. So far two members of the Balochistan assembly have been disqualified on the bases of their educational certificates including Mir Zahoor Khosa. more... (TFD)

Judiciary has powers to keep state organs within limits: CJ
Chief Justice Iftikhar Mohammad Chaudhry has said the court he heads has always acted in the best interest of the country as warranted by the Constitution, although the superior judiciary has powers to intervene in order to stop state organs from going astray. more... (D)

Musharraf to launch political party on October 1
Former president Pervez Musharraf said Wednesday he would launch a new party on October 1, as the retired general plots a return to the frontlines of the restive country's turbulent politics. Musharraf also accused Afghan President Hamid Karzai of lacking “legitimacy” but urged the West to stay the course against the Taliban and not to abandon the restive region.. more... (D)

 

 

 

 

 

 

 

Sector Briefing

105,000 tons of sugar: TCP unable to open LC
Despite finalisation of sugar import contracts a month ago, the Trading Corporation of Pakistan (TCP) has been unable to open Letter of Credit (LC) for import of 105,000 tons of sugar because of shortage of funds. Sources told Business Recorder on Tuesday that at present the corporation is facing acute shortage of some Rs 4 to 5 billion to open LC of the last tender. more... (BR)

Gas supply to textile industry disrupted for five days

Gas supply to the textile industry has been disrupted for five days due to annual maintenance at leading gas fields. Gas supply is likely to remain suspended from September 13 to September 17 as the Qadirpur gas field has been closed for 'annual turnaround' (ATA). more... (BR)

Retiring LCs for oil imports: PSO running from pillar to post for arranging Rs 30 billion
The Pakistan State Oil (PSO), with accumulated receivables of over Rs 148 billion, is running from pillar to post to arrange at least Rs 30 billion to retire its Letters of Credit (L/Cs) by September 16, so as to enable it to import petroleum products, Business Recorder has learnt. In addition, Pakistan Refinery (PRL) is likely to shut down due to the government's inability to eliminate the circular debt. more... (BR)

 

KSE Notices
 
 

Pakistan Oilfeilds Limited
The Board of Directors will be held in Syria to consider and approve the annual accounts for June 30, 2010. more... (KSE)

 

 

 

(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
Separator
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.