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Oct 05, 2010
 
Statistics
KSE-100 Index
Previous Index 10,042.44
Current Index 10,045.03
Change % 0.03%
YTD (CY10) 7.01%
YTD (FY11) 3.32%

International Indicators
  Close %age
BSE-30 20,706.74 1.30
HANGSENG 22,618.66 1.17
NIKKEI 255 9,381.06 (0.30)
FTSE 5,555.97 (0.70)
DJIA 10,751.27 (0.72)
SSEC 2,655.66 1.72
NASDAQ 2,344.52 (1.11)

SCRA
Sep 30, 2010 3.72
Sep, 2010 -36.74
YTD (FY10) 84.24

Money Market Updates
6m T-bill 22-Sep-10 12.8464%
12m T-bil 22-Sep-10 12.7873%
3m KIBOR 13.07%
6m KIBOR 13.23%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 118.84
PKR/GBP 136.48
PKR/USD 86.35
PKR/OMR 221.73

Commodities
Oil $81.49/barrel
Change in % 1.14
Gold $1313.3/ounce
Change in % 0.61

Inflation
CPI Gen. - YoY (Aug-10) 13.2%
CPI Gen. - FY11 (Jul 10) 12.34%
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 29, 2010
Funds Offer Redemption
POAIIF    
Daily Return B/C
POAIF 51.91/- 50.61/-
Daily Return -370.59%
POASF 51.28/- 50.00/-
Daily Return -149.02%
POAF 10.01/-
Daily Return -37.75%
*Daily Returns are calculated as per MUFAP guidelines

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

Proposed imposition of flood tax: Zardari asks Sindh chief minister to consult coalition partners
President Asif Ali Zardari on Monday asked Sindh Chief Minister Qaim Ali Shah to consult the coalition partners on the imposition of one-time flood tax in the province to generate resources for rehabilitation of flood victims. The President also directed the Chief Minister to present this proposal in the Sindh Cabinet and later in the provincial assembly for final approval. more... (BR)

Reformed GST bills: legislation process to be completed by October 22
The legislation process of the Reformed GST bills would be completed by the federal and provincial assemblies by October 22, according to Secretary Finance Salman Siddique. The Secretary Finance said the draft law would be introduced in the National Assembly and Provincial Assemblies for its approval to enforce Reformed GST next month. more... (BR)

Fertilisers, pesticides and tractors: withdrawal of ST relief sought
The legislation process of the Reformed GST bills would be completed by the federal and provincial assemblies by October 22, according to Secretary Finance Salman Siddique. The Secretary Finance said the draft law would be introduced in the National Assembly and Provincial Assemblies for its approval to enforce Reformed GST next month. more... (BR)

 

 

 

 

 

 

Politics

Justice Sharif urges judges to keep up work
Chief Justice of Lahore High Court (LHC), Justice Khawja Muhammed Sharif held a meeting with the judges of subordinate judiciary, Geo News reported Tuesday. According to the sources, the meeting mulled over the situation sprung from the controversy between lawyers and judges. However, Justice Sharif directed the judges of subordinate judiciary to keep up their work to console the poor and wronged people. more... (N)

NATO supplies suspended for 6th day
The NATO supply through Torkham in the Khyber district has remained suspended for the sixth day as over 200 tankers and containers have remained queued up at the border point, Geo News reported. Khasadars and security forces are providing security to the stranded containers packed with NATO supplies. The owners of the containers and tankers said that they were satisfied with the security arrangements as no untoward incident had taken place during the last five days. more... (N)


MQM opposes flood tax in Sindh: rift between coalition partners widens
Muttaheda Qaumi Movement (MQM) has opposed imposition of flood tax in Sindh. An MQM spokesman told Business Recorder on Monday that the party legislatures in the provincial assembly would strongly oppose the resolution regarding the imposition of 'one-time flood tax' in the province. more... (BR)

 

 

 

 

 

 

 

Sector Briefing

Telecom sector: cut in ST rate to cost exchequer dearly
The government will suffer massive revenue loss in case the sales tax rate for telecommunication sector would be brought down from 19.5 percent to 16-17 percent under the reformed general sales tax (RGST). It is reliability learnt here on Monday that the telecom sector is subjected to 10 percent withholding tax as well as 19.5 percent sales tax. more... (BR)

Thar coal infrastructure development: government to seek foreign funding

The government is to seek foreign funding for development of infrastructure to support early completion of Thar coal project, official sources told Business Recorder . The Sindh Engro Coal Mining Company (SECMC) has completed the detailed feasibility study of the coal mining project, estimated to produce 6.5 million tons per annum of coal from block II of Thar coal fields. more... (BR)

LPG extraction: Senate panel to discuss JJVL-SSGC pact

Senate Standing Committee on Petroleum and Natural Resources on Monday called a special meeting to discuss agreement between Jamshoro Joint Venture Limited (JJVL) and Sui Southern Gas Company (SSGC) over LPG extraction. National Assembly Standing Committee on Petroleum and Natural Resources has already taken up LPG extraction agreement between JJVL and SSGC and called meeting on October 12-13. more... (BR)

 

KSE Notices
 
 

Gul Ahmed Textile Mills Limited
The Board of Directors in the meeting held on Oct 4, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR477.53mn EPS 7.52 Cash dividend PKR 1.25/share. 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.