Oct 15, 2010
KSE-100 Index
Previous Index 10,389.97
Current Index 10,409.02
Change % 0.18%
YTD (CY10) 10.89%
YTD (FY11) 7.07%

International Indicators
  Close %age
BSE-30 20,497.64 0.92
HANGSENG 23,852.20 1.70
NIKKEI 255 9,583.51 1.90
FTSE 5,727.21 0.40
DJIA 11,094.57 0.01
SSEC 2,927.25 1.85
NASDAQ 2,435.38 0.24

Oct 12, 2010 0.11
Oct, 2010 -0.63
YTD (FY10) 84.24

Money Market Updates
6m T-bill 08-Oct-10 13.0719%
12m T-bil 08-Oct-10 13.2175%
3m KIBOR 12.98%
6m KIBOR 13.19%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 121.03
PKR/GBP 137.41
PKR/OMR 221.73

Oil $82.78/barrel
Change in % 1.23
Gold $1381.2/ounce
Change in % 0.21

CPI Gen. - YoY (Sep-10) 15.7%
CPI Gen. - FY11 (Jul- Sep 10) 13.80%
NFNE Core INFL - YoY (Sep 10) 9.4%
NFNE Core INFL - FY11 (Jul- Sep 10) 9.8%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,1046
Population 170.45mn
US$ Reserves (Oct 07, 2010) $16.992bn
Trade Balance Aug $(1.24)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (July - Sep 10) $2646.30mn
Foreign Investment (Jul - Sep 10) $267.1mn
All Sch. Banks Deposit Base (Oct 1, 2010) Rs651.95bn

NAVs and Returns
as of Oct 14, 2010
Funds Offer Redemption
POAIIF 51.1573/- 50.6457/-
Daily Return 7.71%
POAIF 53.89/- 52.54/-
Daily Return 202.58%
POASF 53.53/- 52.19/-
Daily Return 345.94%
POAF 10.09/-
Daily Return -60.77%
*Daily Returns are calculated as per MUFAP guidelines

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

Computer software, aircraft, ships, defence stores and tractors: MoF urged to abolish ST exemptions
The Federal Board of Revenue (FBR) has proposed the Ministry of Finance to abolish sales tax exemptions on computer software, aircrafts, ships, defence stores, tractors, bulldozers/combined harvesters and components, import and supply of fully dedicated CNG Euro-2 buses and other exemptions under the reformed general sales tax (RGST). more... (BR)

Coal, clinker/cement terminal at Port Qasim: Ministry's proposal ready for ECC's approval
The Ministry of Ports and Shipping's proposal for establishment of coal and clinker/cement terminal at Port Qasim at a cost of $173 million is ready for approval of the Economic Co-ordination Committee (ECC) of the cabinet, official sources told Business Recorder. more... (BR)

Rule of Law Index: Pakistan worst in corruption, access to civil justice
Sweden and the Netherlands scored high, with the United States lagging its high-income peers in a new ranking of government effectiveness Thursday called the "Rule of Law Index." The first report by the World Justice Project ranks governments in a variety of categories such as absence of corruption, clear and stable laws, open government and access to the justice system. more... (BR)











Withdrawal of notification: Gilani denies news report
Prime Minister Syed Yousuf Raza Gilani said that he has taken notice of the issue of withdrawal of notification of judges' restoration and believe that such news could widen gulf between Government and Judiciary, Aaj News reported. Terming the reports of media as baseless, the PM said that the Government respects constitutional institutions and PPP always respected the judiciary and gave sacrifices for its independence. more... (BR)

SHC admits petition against NAB chief’s appointment
The Sindh High Court issued notices to President Asif Ali Zardari, federal Law Minister Babar Awan, Attorney General of Pakistan Maulvi Anwarul Haq and newly-appointed National Accountability Bureau Chairman Justice (retd) Deedar Hussain Shah on a petition challenging the NAB chief’s appointment. more... (D)

Shahbaz offers apology to Gilani
President of PML-N and Chief Minister Punjab Shahbaz Sharif has apologised to Prime Minister Yousuf Raza Gilani over remarks made by his party leaders against the Bhutto family. more... (D)










Sector Briefing

Netherlands offers financing for SMEs in Pakistan
Netherlands has invited applications from innovative business initiators to get financing for their Small and Medium Enterprises (SMEs) projects in Pakistan, a maximum of 900,000 Euro for each project, said an office-bearer of Karachi Chamber of Commerce and Industry (KCCI) on Wednesday. more... (N)

Commerce Ministry proposes ban on live animals export

The Commerce Ministry has proposed to the Economic Coordination Committee (ECC) of the Cabinet to impose a ban on live animals export not only to curb the escalating meat prices, but also to ensure availability of animals for Eid-ul-Azha, The News learnt on Wednesday. In a summary to the ECC, which is scheduled to meet on Friday with Finance Minister Dr Abdul Hafeez Sheikh after his return from Washington following International Monetary Fund and the World Bank meetings, the Commerce Ministry has proposed to ban the export of live animals. more... (N)

Railways ran into Rs26bn deficit in 2009/10

Pakistan Railways generated only Rs24 billion revenue in 2009/10 against expenditure of over Rs50 billion, running a deficit of Rs26 billion. About Rs15 billion was attributed to operational deficit, while Rs11 billion went to other expenses including Rs4 billion in servicing of State Bank of Pakistan loans. more... (N)


KSE Notices

Al-Ghazi Tractors Limited
The Board of Directors in the meeting held on Oct 14, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010.The company reported PAT:PKR346.33mn EPS 8.07. 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.