Oct 19, 2010
KSE-100 Index
Previous Index 10,431.84
Current Index 10,484.39
Change % 0.50%
YTD (CY10) 11.69%
YTD (FY11) 7.84%

International Indicators
  Close %age
BSE-30 20,168.89 0.22
HANGSENG 23,469.38 1.21
NIKKEI 255 9,498.49 0.05
FTSE 5,742.52 0.69
DJIA 11,143.69 0.73
SSEC 2,946.36 1.29
NASDAQ 2,480.66 0.48

Oct 15, 2010 1.94
Oct, 2010 1.07
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 12.99%
6m KIBOR 13.21%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.54
PKR/GBP 137.14
PKR/USD 86.1
PKR/OMR 221.92

Oil $82.63/barrel
Change in % 2.22
Gold $1367.1/ounce
Change in % 0.50

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 18, 2010) $16.969bn
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 18, 2010
Funds Offer Redemption
POAIIF 51.1999/- 50.6879/-
Daily Return 7.13%
POAIF 53.98/- 52.63/-
Daily Return -23.07%
POASF 53.70/- 52.36/-
Daily Return -23.19%
POAF 10.16/-
Daily Return 116.03%
*Daily Returns are calculated as per MUFAP guidelines

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

Bringing major sectors into tax regime: government working out modalities
The government is working out modalities to bring major sectors of minimum tax regime and final tax regime (FTR) like importers, exporters, transporters, services, contractors, dividends/interest earners into the normal tax regime to encourage documentation of economy. At the same time, the rate of withholding tax has to be brought down for sectors operating under the FTR to reduce their cost of doing business. more... (BR)

Strategic dialogue: $2.5 billion CSF claims delay to be taken up with US
Pakistan is concerned over the delay in reimbursement of $2.5 billion claims on account of Coalition Support Fund by the United States and would take up the matter in the upcoming strategic dialogue between the two sides. Sources said further delay in reimbursement by the US would force the government to borrow from the State Bank of Pakistan that would worsen fiscal and inflation problems. more... (BR)

PSDP federal component: Rs 70 billion cut proposed due to financial snags
The Planning Commission has proposed a reduction of Rs 70 billion in the federal component of Public Sector Development Programme (PSDP) 2010-11 due to financial constraints, following the directions of the Finance Ministry, it is learnt. Sources in the Prime Minister Secretariat told Business Recorder that the Commission has moved a summary to that effect to Prime Minster Yousuf Raza Gilani for a formal approval. more... (BR)







Sharif to honor his agreement
Senators SM Zafar and Tariq Azeem met Punjab Chief Minister Muhammad Shahbaz Sharif, here Sunday. Members National Assembly Chaudhry Nisar, Khawaja Muhammad Asif and Senator Ishaq Dar were also present on the occasion. Serious political and economic problems being faced by the country and the role of political parties in improving the present situation was discussed in the meeting. According to the sources, the meeting also reviewed the Pakistan Muslim League unification prospects with the PML-Q leaders. more... (TFD)

Defeated factions bleeding Khi: MQM
Muttahida Qaumi Movement Chief Altaf Hussain has said that bloodshed in Karachi was planned by miscreants from defeated factions. Muttahida’s victory is a signal of revolution.
Addressing a political gathering at nine-zero, Altaf Hussain said that turnout of PS-94 by-polls showed that they are undeterred by the ongoing violence and bloodshed. more... (TFD)

Altaf gives govt last chance
Muttahida Qaumi Movement (MQM) chief Altaf Hussain has warned the rulers that if they continued with the practice of backing out from promises, the party would go to the public and ask them as to whether or not they should remain in the
coalition government. more... (N)









Sector Briefing

Textile sector at odds over EU package
The value added textile sector and the textiles’ raw material producers were once again set to confront each other over the European Union package of importing 75 items duty free from Pakistan from January 01, 2011, it was learnt on Monday. The package, which has a long-list of textile raw material and some value added textile products, has started the war of words between the value adders and raw material makers. more... (N)

Govt likely to increase wheat support price by Rs50 per 40kg

The federal government is likely to increase the minimum procurement price of wheat by Rs50 per 40 kilogram to fix it at Rs1,000 per maund, which would bring an increase of Rs25 per 20 kilogram flour bag and also brought multiplier effect on other foods items, experts said. The Agriculture Policy Institute (API) has calculated Rs833 per maund wheat production cost in Punjab and Rs850 per maund in Sindh. more... (N)

ADB, Economic Division finalising $2bn project

The Asian Development Bank (ADB) and the Economic Affairs Division are giving final shape to finance $2 billion proposed project under the flood emergency reconstruction project, it is learnt on Monday. The proposed memorandum of understanding between the ADB and the government of Pakistan focuses on three aspects, including mobilisation of resources to finance the project, structure of the project and implementation arrangements, a proposed copy of the MoU available with The News revealed. more... (N)


KSE Notices

Allied bank Limited
The Board of Directors in the meeting held on Oct 18, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010. The company reported PAT:PKR2.23bn EPS 2.85. more... (KSE)

Sanofi Aventis Limited
The Board of Directors in the meeting held on Oct 18, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010. The company reported PAT:PKR50.01mn EPS 5.19. more... (KSE)

Pakistan Tobacco Company Limited
The Board of Directors in the meeting held on Oct 18, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported LAT:PKR54.92mn EPS 0.21. more... (KSE)

IGI Investment Bank Limited
The Board of Directors in the meeting held on Oct 18, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR8.92mn EPS 0.04. 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.