Oct 22, 2010
KSE-100 Index
Previous Index 10,486.02
Current Index 10,558.74
Change % 0.69%
YTD (CY10) 12.48%
YTD (FY11) 8.61%

International Indicators
  Close %age
BSE-30 20,260.58 1.95
HANGSENG 23,649.50 0.40
NIKKEI 255 9,376.48 (0.10)
FTSE 5,757.86 0.50
DJIA 11,146.57 0.35
SSEC 2977.45 0.42
NASDAQ 2,459.67 0.09

Oct 20, 2010 11.11
Oct, 2010 17.03
YTD (FY10) 84.24

Money Market Updates
6m T-bill 20-Oct-10 13.1193%
12m T-bil 20-Oct-10 13.2353%
3m KIBOR 12.99%
6m KIBOR 13.22%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 118.45
PKR/GBP 135.21
PKR/OMR 221.92

Oil $80.99/barrel
Change in % -1.32
Gold $1327.1/ounce
Change in % -1.17

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-Sep-10) $(545)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 21, 2010
Funds Offer Redemption
POAIIF 51.2334/- 50.7211/-
Daily Return 6.31%
POAIF 54.40/- 53.04/-
Daily Return 89.68%
POASF 54.23/- 52.87/-
Daily Return 138.60%
POAF 10.17/-
Daily Return 12.98%
*Daily Returns are calculated as per MUFAP guidelines

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

Wrong interpretation of tax laws: ADRCs cause huge loss to exchequer
The Alternative Dispute Resolution Committees (ADRCs) of the Federal Board of Revenue (FBR) have caused huge revenue loss to the national exchequer by wrongly interpreting tax laws for giving inadmissible benefits to the taxpayers. more... (BR)

Donors seek 200% hike in power tariffs
The Friends of Democratic Pakistan (FoDP) has proposed three options, including a 200 per cent tariff increase, that could help steer Islamabad out of its energy crisis within three years. A report prepared by the energy sector task force of the FoDP ruled out the possibility of energy sector revival without “reflective tariffs and elimination of subsidies” from one to three years, depending upon which option the government adopts. more... (T)

US urged to open its markets to Pakistani goods
Foreign Minister Shah Mahmood Qureshi on Wednesday urged the United States to open its markets to Pakistani goods for supporting Pakistan''s economic recovery and sustained development. "We need trade, not just aid," he told a distinguished gathering at Brookings Institute, a Washington-based think-tank, as the US-Pakistan strategic dialogue enters its second day. more... (BR)







Zardari may visit Washington next month
President Asif Ali Zardari may visit the United States next month in a bid to firm up US support for the democratic set-up in Pakistan, diplomatic sources told Dawn. The White House confirmed on Thursday that President Barack Obama invited Mr Zardari to Washington during a meeting with a Pakistani delegation at his official residence on Wednesday.
more... (D)

Five judges suspended for corruption
Two district and sessions judges and three additional district and sessions judges were suspended on Thursday on charges of corruption. According to separate orders issued by the registrar of Peshawar High Court, Justice Miftauddin Khan, the authorised officer under law, suspended the judicial officers with the approval of the competent authority — Chief Justice Ejaz Afzal Khan. They have been suspended for three months under the NWFP Government Servants (Efficiency & Discipline) Rules, 1973. more... (D)

SC enhanced parliament's respect: Gilani
Prime Minister Syed Yousuf Raza Gilani on Thursday described the Supreme Court interim order on the 18th Amendment as “positive one”, saying that it has further enhanced the respect of parliament. “The judiciary has always stated that it holds parliament in high respect and through the Thursday's verdict it has proved that they in fact see parliament with respect,” the prime minister said while talking to newsmen at the headquarters of the National Database Registration Authority (Nadra) here on Thursday. more... (D)










Sector Briefing

PSO asks Hubco, Kapco to clear dues by October 25
The cash-strapped Pakistan State Oil (PSO) has threatened power generation companies Hubco and Kapco that their fuel supplies on credit would be suspended until they clear their dues by October 25, 2010. As on October 20, PSO''s receivables against power sector and other clients have again swelled to Rs 147.23 billion. more... (BR)

Environment Ministry finalises energy conservation law

The Ministry of Environment has finalised energy conservation law, which is likely to be placed in the cabinet for approval. This was stated by Minister for Environment Hameed Ullah Jan Afridi while addressing the inaugural session of two-day international conference on "climate change and development" organised by Ministry of Environment in collaboration with United Nations here on Thursday. more... (BR)

63.6 percent raise in power tariff in 30 months: gas allocation dispute stays unresolved

The government raised power tariff by 63.6 percent during the last 30 months, and has indicated the likelihood of a further hike if gas is not made available for power generation. This was disclosed by top officials of the Ministry of Water and Power, at a recent meeting of the Economic Co-ordination Committee (ECC) of the Cabinet, during discussion over a proposal titled "making power more affordable, reduction in cost of power generation and allocation of gas from Kunar Pasakhi gas field for power sector."
. more... (BR)


KSE Notices

Ferozsons Laboratories Limited
The Board of Directors in the meeting held on Oct 21, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR82.69mn EPS 3.31. more... (KSE)

Sitara Peroxide Limited
The Board of Directors in the meeting held on Oct 21, 2010, has approved the financial statments of the company for the first quarter ended Sep 30, 2010. The company reported PAT:PKR12.83mn EPS 0.23. more... (KSE)

Bawanyair Products Limited
The Board of Directors in the meeting held on Oct 21, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR0.23mn EPS 0.03. more... (KSE)





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