Nov 22, 2010
KSE-100 Index
Previous Index 10,909.65
Current Index 10,966.00
Change % 0.52%
YTD (CY10) 16.82%
YTD (FY11) 12.79%

International Indicators
  Close %age
BSE-30 19,585.44 -1.73
HANGSENG 23,284.41 -1.50
NIKKEI 255 10,022.39 0.09
FTSE 5,732.83 -0.60
DJIA 11,203.55 0.20
SSEC 2902.26 -3.05
NASDAQ 2,518.12 0.15

Nov 15, 2010 3.39
Nov, 2010 40.88
YTD (FY11) mn 321.81

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 12.99%
6m KIBOR 13.26%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 116.43
PKR/GBP 137.35
PKR/USD 85.5
PKR/OMR 217.57

Oil $82.56/barrel
Change in % -2.36
Gold $1359.3/ounce
Change in % -0278

CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Sep 10) 14.2%
NFNE Core INFL - YoY (Oct 10) 9.3%
NFNE Core INFL - FY11 (Jul- Oct 10) 9.7%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,1046
Population 170.45mn
US$ Reserves (Nov 4, 2010) $16.95bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Nov 6, 2010) Rs668.17bn

NAVs and Returns
as of Nov 16, 2010
Funds Offer Redemption
POAIIF 51.5322/- 51.0169/-
Daily Return 7.57%
POIAAF 57.11/- 55.68/-
Daily Return 111.78%
POAAF 56.13/- 54.73/-
Daily Return 147.31%
POAF 10.21/-
Daily Return 12.52%
*Daily Returns are calculated as per MUFAP guidelines

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

Circular debt may swell to Rs 781 billion by June: Pepco disbandment not to change scenario
The decision to disband Pakistan Electric Power Company (Pepco) under power sectors reforms agreed with international financial institutions (IFIs) will not change the scenario if the government retained the management control of distribution companies (discos), according to power sector experts here. more... (BR)

Big hydropower contract rules being relaxed
The government has decided in principle to relax conditions for awarding contracts to international companies for big hydropower projects, by doing away with the international competitive bidding (ICB) required under the existing procurement rules. more... (D)

Govt sets new record of borrowing
The government has geared up its efforts to borrow from both the State Bank and scheduled banks accumulating the domestic debt to record new peaks as it added over Rs800 billion in a year. more... (D)

Govt in a tight spot on RGST

The government is known to be facing great difficulties in manipulating the GST (general sales tax) reforms Bill 2010, according to its whims. The 3-day meeting of the standing committee for finance was scheduled to be convened on 22 Nov 2010. more... (TFD)









Malik asks FIA to take steps against human smuggling, corruption
Interior Minister Rehman Malik directed FIA officials on Sunday to take measures to curb human smuggling and corruption. Chairing a meeting of FIA officials at a camp office of National Crisis Management Cell (NCMC) here, he asked FIA authorities to look into the issue of deportation of 106 Pakistanis from Iran's Taftan checkpoint. more... (D)

PML-N hones strategy
The Pakistan Muslim League-N plans to give a tough time to the ruling People's Party on the issue of reformed General Sales Tax (RGST) and flood surcharge, particularly during deliberations of the Senate standing committee on finance. more... (D)

Pakistan rejects expansion of drone strike campaign
Pakistan said Saturday it would never allow any expansion in the campaign of drone strikes by the United States on its territory. The Washington Post reported Friday that the US was seeking to expand the areas inside Pakistan where Central Intelligence Agency (CIA) unmanned aircraft - used for surveillance and to launch missile strikes - could operate. more... (BR)










Sector Briefing

232MW power ship switched on
The biggest ship power plant of the world with a generation capacity of 232 megawatt electricity was switched on Sunday here at Karachi Port by Sindh Chief Minister Syed Qaim Ali Shah and Minister for Water and Power Raja Pervaiz Ashraf jointly. more... (TFD)

Oil, gas projects: Pakistan and Russia ink MoU
Pakistan and Russian Federation have signed a Memorandum of Under-standing (MoU) to pursue joint projects and co-operation in the oil and gas sector. According to a message received here on Friday, the MoU was signed by Federal Minister for Petroleum Syed Naveed Qamar and Russian Minister for Energy S I Shmatko at Moscow. more (BR)

E&P drilling below target
Exploration and Production sector was able to drill only 5 exploratory wells during 4MFY11 — against the annual target of 29 wells — while 6 exploratory wells were drilled during the same period of last year. On the other hand, 8 developmental and appraisal (D&A) wells have been drilled — against the full year target of 51 wells – while 7 wells were drilled in the same period last year. Province-wise breakup of the activity reveals that exploration activity was skewed towards Sindh, with 3 wells being spudded in the province. more... (TFD)


KSE Notices

Kohinoor Mills Limited
The Board of Directors meeting is going to held on 23rd Nov, 2010 to discuss the debt restructuring of the company 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.