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Nov 25, 2010
 
Statistics
KSE-100 Index
Previous Index 11,171.09
Current Index 11,154.83
Change % -0.14%
YTD (CY10) 18.83%
YTD (FY11) 14.74%

International Indicators
  Close %age
BSE-30 19,459.85 -1.18
HANGSENG 23,023.86 0.60
NIKKEI 255 10,030.11 -0.80
FTSE 5,657.10 1.40
DJIA 11,187.28 1.37
SSEC 2,886.68 1.80
NASDAQ 2,543.12 1.93

SCRA
Nov 23, 2010 -3.78
Nov, 2010 45.84
YTD (FY11) mn 150.56

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 13.03%
6m KIBOR 13.31%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.59
PKR/GBP 135.31
PKR/USD 85.55
PKR/OMR 219.00

Commodities
Oil $83.81/barrel
Change in % 2.7
Gold $1372.6/ounce
Change in % 1.10

Inflation
CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Oct 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 22, 2010) $16.91bn
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 12, 2010) Rs672.14bn

NAVs and Returns
as of Nov 24, 2010
Funds Offer Redemption
POAIIF 51.6366/- 51.1202/-
Daily Return 15.02%
POIAAF 57.86/- 56.41/-
Daily Return 71.31%
POAAF 56.77/- 55.35/-
Daily Return -32.94%
POAF 10.24/-
Daily Return 12.09%
*Daily Returns are calculated as per MUFAP guidelines

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

Lack of storage facilities, quality seeds, pesticides affect vegetable yield
Lack of storage facilities, quality seeds, pesticides and above all water have affected production of vegetables, which have great potential to contribute substantially to national economy by earning foreign exchange and creating new jobs. more... (D)

Five leading export sectors: FBR to slap 15 percent ST on power, gas consumption
The Federal Board of Revenue would impose 15 percent sales tax on the electricity and natural gas consumption by thousands of manufacturing units in five leading export sectors including textile, leather, surgical, carpets and sports goods after introduction of the General Sales Tax Bill 2010. The Board will rescind notifications and Sales Tax General Orders (STGOs) to withdraw sales tax zero-rating facility on the electricity and natural gas consumption by five major export sectors following approval of the General Sales Tax Bill by the Parliament. more... (BR)

Country heading fast towards worst gas crisis
Pakistan is heading fast towards its worst gas crisis in a situation of widening of the gap in demand and supply as its 7 major reservoirs, currently contributing 65 percent of gas production, are going to completely dry up by 2014-15. "Pakistan's gas crisis is going to get worse in the next 4 to 5 years as its major gas reservoirs are going to deplete, completely, by December 2015, and there is no visible sign of make-up of the gas reduction during this period", says a latest study conducted on Pakistan's hydro carbon potential. more... (BR)


 

 

 

 

 

Politics

Two ministers hold talks with MQM
Talks on the reformed general sales tax between a government team, led by federal Finance Minister Abdul Hafeez Shaikh, and MQM leaders ended inconclusively late on Wednesday night. The meeting at the Sindh Governor's House lasted about seven and a half hours. more... (D)

PAC inquiry into NLC scam to go ahead
The chairman of the Public Accounts Committee (PAC) of the National Assembly, Chaudhry Nisar Ali Khan, says he will go ahead with his committee's probe into affairs of the National Logistics Cell (NLC) despite army chief Gen Ashfaq Parvez Kayani's decision to conduct a separate inquiry into the matter. more... (D)

Interior Minister denies corruption in flood-aid
Interior Minister Rehman Malik denying any corruption in the foreign aid has defended the way his country is distributing millions of dollars of flood relief. His comments follow allegations of corruption from flood affected people. The government has launched a huge compensation scheme under which people can withdraw cash aid from local banks using special electronic cards. In an interview with the BBC, Malik described the electronic card system being administered by the government as “foolproof”. more... (TFD)

 

 

 

 

 

 

 

 

Sector Briefing

Subsidy on agricultural tube-wells being withdrawn
The government has decided in principle to withdraw subsidy on agricultural tube-wells with retrospective effect from July 1, 2010, and make at-source deduction of about Rs17 billion from provincial accounts to recover last year's arrears in a move to partially offset power sector losses. more... (D)

DGI&I seizes around 267,000 liters of diesel

Directorate of Intelligence and Investigation (DGI&I)-FBR, Karachi has seized around 267,000 liters of diesel worth over Rs 19.38 million during July 2010 to October 2010 period. According to provisional statistics made available to Business Recorder on Tuesday revealed that the Karachi Directorate has initiated strict vigilance to restrain contraband goods to reach local markets. more (BR)

OPI Gas acquires majority stake in Shell LPG: agreement signed

OPI Gas (Pvt) Limited has formally acquired Shell Petroleum Company's majority stake of 67.91 percent in Shell Gas LPG Pakistan Limited. According to a press release issued here on Tuesday, the share transfer was made officially in the board meeting of Shell Gas LPG Pakistan, which was held at Hashoo Group, Karachi office. more... (BR)

 

KSE Notices
 
 

Atlas Honda Limited
The Board of Directors announced financial results for quartar ended Sep 30, 2010 with PAT: PKR206.68mn with EPS of PKR3.30. 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.