BasedLine
LOGO
Sep 21, 2010
 
Statistics
KSE-100 Index
Previous Index 10,052.97
Current Index 10,063.58
Change % 0.10%
YTD (CY10) 7.21%
YTD (FY11) 3.5%

International Indicators
  Close %age
BSE-30 19,906.10 1.59
HANGSENG 21,977.30 0.10
NIKKEI 255 9,626.09 1.20
FTSE 5,602.54 1.70
DJIA 10,753.62 1.37
SSEC 2583.15 (0.21)
NASDAQ 2,355.83 1.74

SCRA
Sep 17, 2010 0.48
Sep, 2010 -44.04
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 12.75%
6m KIBOR 12.89%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 112.21
PKR/GBP 134.53
PKR/USD 85.85
PKR/OMR 220.3

Commodities
Oil $74.24/barrel
Change in % 0.48
Gold $1280.6/ounce
Change in % 0.16

Inflation
CPI Gen. - YoY (Aug-10) 13.2%
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) $(1.27)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Aug 10) $933.06mn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs653.42bn

NAVs and Returns
as of Sep 21, 2010
Funds Offer Redemption
POAIIF 51.4977/-  50.9827/-
Daily Return 7.89%
POAIF 54.14/- 52.79/-
Daily Return 34.67%
POASF 52.66/- 51.34/-
Daily Return 33.27%
POAF B/C /-
Daily Return  
*Daily Returns are calculated as per MUFAP guidelines

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

ADB expands Pakistan trade finance after floods
The Asian Development Bank (ADB) is widening its trade finance programme in Pakistan by $500 million to help the country with recovery and reconstruction after floods which caused billions of dollars in damage. That means the bank could provide up to $2 billion in trade finance, ADB said in a statement. more... (BR)

WHT on electricity: 10 percent flood surcharge likely
The federal government is likely to impose 10 percent income tax surcharge on withholding tax collected from electricity consumed by commercial and industrial consumers. This means that the withholding tax on electricity consumed by commercial consumers would increase from 10 percent to 11 percent and industrial consumers from 5 percent to 5.5 percent after imposition of flood surcharge. more... (BR)


Chinese firm in talks to build nuclear power plant

China's main nuclear energy corporation is in talks to build a 1-gigawatt atomic power plant in Pakistan, an executive said on Monday. China has already helped Pakistan build its main nuclear power facility at Chashma in Punjab, where one reactor is running and another near finished, and it has contracts to build two more there. more... (BR)

 

 

 

 

 

 

 

Politics

Dar’s visit to MQM HQ seen part of political shift
Political prophesiers Monday suddenly jumped to front and let loose speculations of a sea-change at political front after PML-N leader, Ishaq Dar’s visit to MQM headquarter “Nine Zero”. Rumors were being disseminating around for quite some time about the possible political change in the House, while Prime Minister Gilani had recently said he would not welcome any move, but democratic. more... (TFD)

Qamar to talk oil crisis with OMCs today
Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar has formally summoned a meeting of Oil Marketing Companies today in view of petrol shortage in Punjab and Balochistan. Well placed sources of Petroleum Ministry said that host of issues will take place during the course of the meeting. It is expected that marketing companies who are violating rules will be imposed heavy fines while their licenses will be cancelled. Issues like shortage of petrol and others will be discussed in depth as due to floods the oil refineries had been closed thus affected the process of distribution of petrol. more... (TFD)

TAPI framework pact agreed upon
Turkmenistan, Afghanistan, Pakistan and India Monday finally agreed upon a framework of agreement to construct a gigantic pipeline pumping natural gas to South Asia, a Pakistani official said. The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, valued at more than $3 billion, has long been discussed by governments and energy companies but instability in Afghanistan has so far made its construction impossible. more... (TFD)

 

 

 

 

 

 

 

Sector Briefing

PPIB asks MoP&S to facilitate imported coal power project sponsors
The Private Power Infrastructure Board (PPIB) has requested the Ministry of Ports and Shipping to facilitate the sponsors of 1200 MW imported coal power project sponsor AES, Pakistan. more... (BR)

Mari Gas seeks $20 million raise in exploration expenses limit

Mari Gas Company Limited (MGCL) has urged the Ministry of Petroleum to enhance exploration expenditure limit from current $20 million per annum to $40 million per annum, by deducting it from Gas Development Surcharge (GDS). Sources told Business Recorder that the Ministry of Petroleum had circulated a summary to Ministry of Finance and Planning Commission for comments on the proposal, necessary under Rules of Business. more... (BR)



Lack of POL storage infrastructure: Ogra to issue show cause to OMCs

Oil and Gas Regulatory Authority (Ogra) on Monday decided to issue show cause notices to those Oil Marketing Companies (OMCs) which do not have the required storage infrastructure for petroleum products. An Ogra official said the Ministry of Petroleum had advised the authority to take action against those OMCs, which failed to develop infrastructure. more... (BR)

 

KSE Notices
 
 

Ghani Glass Limited
The Board of Directors in the meeting held on Sep 17, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR947.196mn EPS of 9.77 Cash dividend 25% Bonus Shares 10% 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.