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Sep 22, 2010
 
Statistics
KSE-100 Index
Previous Index 10,063.58
Current Index 9,992.50
Change % 0.71%
YTD (CY10) 6.45%
YTD (FY11) 2.78%

International Indicators
  Close %age
BSE-30 20,001.55 0.48
HANGSENG 22,002.59 0.11
NIKKEI 255 9,602.11 (0.30)
FTSE 5,576.19 (0.50)
DJIA 10,761.03 0.07
SSEC 2591.55 0.33
NASDAQ 2,349.35 (0.28)

SCRA
Sep 20, 2010 1.24
Sep, 2010 -42.8
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 112.42
PKR/GBP 133.81
PKR/USD 85.9
PKR/OMR 220.3

Commodities
Oil $75.09/barrel
Change in % 1.15
Gold $1289.6/ounce
Change in % 0.70

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 (Sep 21, 2010) $16.07bn
Trade Balance Aug $(1.24)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 22, 2010
Funds Offer Redemption
POAIIF 51.5083/-  50.9932/-
Daily Return 7.81%
POAIF 53.90/- 52.55/-
Daily Return 165.94%
POASF 52.40/- 51.09/-
Daily Return -177.74%
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

Country owes Rs 90 trillion debt, PAC informed
Finance Secretary Salman Bashir has told the Public Accounts Committee that the country still faces a burden of national and foreign loans amounting to Rs 90 trillion.
The PAC, chaired by Opposition Leader in the National Assembly Chaudhry Nisar Ali Khan, met at the Parliament House to review the audit objections on the monetary matters of the Ministry of Finance. more... (N)

Planning Commission suggests govt to cancel 500 projects
The Planning Commission has recommended to the government to delete 500 projects of $800 million to $900 million for generating funds to meet the needs that have arisen after the floods, revealed a summary obtained by The News on Tuesday.
The summary has been submitted with the Prime Minister’s Secretariat. more... (N)


Hydropower projects not progressing as per schedule

The hydropower projects, initiated by the Water and Power Development Authority (Wapda) with billions of dollars investment, are not progressing as per schedule despite heavy expenditures on repeated studies, sources in Ministry of Water and Power. more... (BR)

 

 

 

 

 

 

 

Politics

Brig. Imtiaz, Adnan Khawja arrested on court orders
Brig. Imtiaz (rtd) and former MD OGDCL Adnan Khawja were arrested from the courtroom on Tuesday and have been shifted to Adiala Jail, Aaj News reported on Tuesday.
According to the details, both of them were arrested from the court on orders by Supreme Court (SC) during the hearing of a case relating the implementation of National Reconciliation Ordinance (NRO). more... (BR)

China confirms two nuclear reactors for Pakistan
China on Tuesday gave its firmest government confirmation yet of plans to build two new nuclear reactors for Pakistan, but a Foreign Ministry spokeswoman said she did not know about talks over a bigger reactor deal. The spokeswoman Jiang Yu said China plans to help Pakistan expand its Chashma nuclear energy complex in Punjab by building two reactors in addition to one already operating and another nearing completion. more... (BR)

US envoy meets Zardari
President Asif Ali Zardari Tuesday met US ambassador Anne W Patterson at the Presidency to discuss host of issues with special focus on flood affectees.
President thanked US ambassador for helping and supporting Pakistan when it needed the most besides US Government overwhelming support for the people and Government of Pakistan thick and thin. more... (TFD)

 

 

 

 

 

 

Sector Briefing

SNG project: extensions by SSGC irk intending bidders
The Sui Southern Gas Company Limited (SSGC) has irked the prospective bidders of synthetic natural gas (SNG) supply project for extension in submission of bids, which Jamshoro Joint Venture Limited (JJVL) had requested. Sources told Business Recorder that prospective bidders had approached the Prime Minster accusing SSGC of making two times extension in tender of SNG supply project. more... (BR)

PSO unable to build storage in Punjab due to circular debt: managing director

The Managing Director of Pakistan State Oil, Irfan Qureshi, has said that due to the circular debt PSO is unable to construct storages in Punjab. However, the company is now planning to construct storages in Punjab at a cost of Rs 8 to 10 billion to increase its storage capacity, and the construction work is expected to start from March. more... (BR)

SSGC and KESC lock horns over supply of gas

The Karachi Electric Supply Company (KESC) and Sui Southern Gas Company (SSGC) have locked horns over gas supply to the former. The industrial sector in the city has started facing over four hours power loadshedding as Karachi Electric Supply Company (KESC) has reduced electricity generation for what it claims shortage of gas. more... (BR)

 

KSE Notices
 
 

Oil & Gas Development Company Limited
Mr. Muhammad Naeem Malik, director General, ministry of Petroleum and Natural Resources has taken charge of the post of Managing Director of OGDC 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.