Sep 29, 2010
KSE-100 Index
Previous Index 9,936.73
Current Index 9981.07
Change % 0.44%
YTD (CY10) 6.04%
YTD (FY11) 2.66%

International Indicators
  Close %age
BSE-30 20,104.86 (0.06)
HANGSENG 22,109.95 (1.00)
NIKKEI 255 9,495.76 (1.10)
FTSE 5,578.44 0.10
DJIA 10,858.14. 0.43
SSEC 2,624.33 0.50
NASDAQ 2,379.59 0.43

Sep 21, 2010 -0.19
Sep, 2010 -43.01
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 12.82%
6m KIBOR 12.97%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 115.99
PKR/GBP 136.35
PKR/USD 86.15
PKR/OMR 222.87

Oil $76.540/barrel
Change in % 0.42
Gold $1313.20/ounce
Change in % 1.28

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 27, 2010) $16.632bn
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 27, 2010
Funds Offer Redemption
POAIIF 51.5790/-  51.0632/-
Daily Return 7.64%
POAIF 53.76/- 52.42/-
Daily Return 153.83%
POASF 52.21/- 50.90/-
Daily Return 172.92%
Daily Return  
*Daily Returns are calculated as per MUFAP guidelines

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

Flood tax off cards
Minister for Finance Dr Abdul Hafeez Shaikh said Tuesday that the government was not considering levying 10 per cent additional flood tax on income. Addressing a ceremony organised to pay refund cheques of tax payers, the minister said the government would go for other options to generate funds. . more... (T)

FBR distributes ST refund cheques via ERS
The facility of Expeditious Refund System (ERS) would be extended to commercial exporters and accountholders of commercial banks, and refund amount would be directly transferred to the bank account of the taxpayers under the plan to expedite refunds under the 'reformed general sales tax' (R-GST). . . more... (BR)

SBP chief urges government to cut public spending
Perturbed by substantial reduction in foreign direct investment (FDI) and remittances, State Bank of Pakistan (SBP) Governor Shahid Hafiz Kardar has termed the country's economic situation 'dangerous', and urged the federal government to cut public sector spending to the maximum possible limit, official sources told Business Recorder . . more... (BR)







'MQM to oppose RGST tooth and nail'
MQM will oppose Reformed GST tooth and nail, while textile sector has warned of the countrywide strong reaction and protests against the imposition of the tax. The government has already announced implementation of the levy from October 1, 2010 after reshaping it into Reformed GST from VAT, which the coalition partner MQM would oppose at all stages, said Senate Standing Committee on Finance and Revenue Chairman Ahmed Ali during a meeting with textile exporters at PHMA House on Tuesday. .more... (BR)

CJP says system restored in real sense
Chief Justice Iftikhar Chaudhry said the 18th Amendment had restored the parliamentary system in real sense. He was heading a 17-member larger bench seized with hearing of a set of petitions on certain provisions of the 18th Amendment . .more... (T)

Sindh House adopts bill to shelve LB polls
A bill to postpone the local bodies' polls indefinitely was adopted unanimously in the Sindh Assembly on Tuesday. Sindh Law Minister, Ayaz Soomro, moved the bill in Sindh Assembly's session chaired by Speaker Nisar Ahmed Khuhro. He cited the situation arising out of the unprecedented floods that caused widespread damage to infrastructure in the province besides destruction to communication and agriculture .more... (T)







Sector Briefing

Fuel stock storage: OMCs except PSO violated
Oil Marketing Companies (OMCs) except Pakistan State Oil (PSO) violated the licensing agreement by not maintaining required fuel stock of 20 days. Director General Oil Sabir Hussain during a briefing to National Assembly Standing Committee on Petroleum said OMCs had been directed to build up storage to ensure required fuel stocks. . more... (BR)

Power projects below 50 megawatts: Ministry yet to frame policy

The Ministry of Water and Power is yet to firm up policy for establishment of power projects of less than 50 MW capacity as directed by the Executive Committee of the National Economic Council (Ecnec) in March last year, official sources told Business Recorder . "We have held a number of meetings with the stakeholders, but the policy has not been finalised so far," sources said. .more... (BR)

14 perecnt decline in fertiliser sales in eight months

The floods also hurt the sale of fertiliser, and cumulative fertiliser offtake has been down by 14 percent in eight months of current calendar year. According to data released by National Fertiliser Development Centre (NFDC), total fertiliser offtake in January-August 2010 stood at 4.9 million tons, down by 14 percent, compared to 5.7 million tons of last year . more... (BR)


KSE Notices

Maple Leaf Cement Factory Limited
The company has announced its financial statmnets for the year ended June 30, 2010. Reporting a LAT of PKR1,673mn and LPS of PKR 7.08 .more... (KSE)






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