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Dec 08, 2010
 
Statistics
KSE-100 Index
Previous Index 11,431.01
Current Index 11,629.93
Change % 1.74%
YTD (CY10) 23.89%
YTD (FY11) 19.62%

International Indicators
  Close %age
BSE-30 19,696.48 -1.20
HANGSENG 23,092.50 -1.40
NIKKEI 255 10,232.33 0.90
FTSE 5,794.53 -0.20
DJIA 11,372.48 0.12
SSEC 2,827.39 0.71
NASDAQ 2,609.16 0.41
TASI 6,457.18 0.32
KSE(Kuwait) 6,860.30 0.11
BSE 1,433.04 0.25
MSM 6,717.26 0.30

SCRA
Dec 03, 2010 10.52
Dec, 2010 21.89
YTD (FY11) mn 184.62

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.37%
6m KIBOR 13.61%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 113.37
PKR/GBP 134.89
PKR/USD 85.75
PKR/OMR 220.41

Commodities
Oil $88.83/barrel
Change in % 1.04
Gold $1,388.40/ounce
Change in % -0.53

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 $ 1,1051
Population 171.25mn
US$ Reserves (Dec 3, 2010) $16.74 bn
Trade Balance Oct $(1.23)bn
Curr. A/C (Jul-Oct-10) $(533)mn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Oct 10) $569mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 08, 2010
Funds Offer Redemption
POAIIF 51.8029/- 51.2849/-
Daily Return 10.32%
POIAAF 59.36/- 57.88/-
Daily Return 544.01%
POAAAF 58.45/- 56.99/-
Daily Return 539.4%
POAF 10.21/-
Daily Return 12.13%
*Daily Returns are calculated as per MUFAP guidelines

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

FBR grants facility to taxpayers
The Federal Board of Revenue (FBR) has empowered the taxpayers to obtain reversal order of the Commissioner, Enforcement, for withdrawal of provisional assessment in cases where taxpayers have declared income/wealth in response to departments' notification. more... (BR)

Sixth tranche: no clear deadline from IMF
The Inter-national Monetary Fund (IMF) has refused to give any clear deadline for the much-awaited board meeting in which the sixth tranche of $1.7 billion under Stand By Arrangement (SBA) has to be approved. In reply to a couple of questions of Business Recorder, top of which was: when IMF board is expected to meet for Pakistan's case, a spokesman of the Fund said that the Fund is engaged in constructive and ongoing discussions on the fifth review. more... (BR)

RPPs return advance money
Two rental power plants Naudero-II and Guddu Power Projects have deposited Rs 2.25 billion in the bank and presented the receipts before the Supreme Court of Pakistan, Geo News reported Wednesday. Earlier today, counsel of power companies told the SC that companies will return the advance payment today. more... (TN)

 

 

 

 

 

 


Politics

Commerce Ministry suspends NICL chairman Niazi? Supreme Court hearing today
A day prior to the hearing of the scam in the Supreme Court, the Ministry of Commerce (MoC) on Wednesday suspended the arrested chairman of National Insurance Corporation Limited (NICL), Ayaz Niazi, who is accused of involvement in Rs 6 billion fraud, sources told Business Recorder. more... (BR)

PPIB issues notices to failed RPPs: ministry unwilling to scrap, revise tariffs
The Private Power Infrastructure Board (PPIB) has reportedly issued notices to those rental power plants (RPPs) which failed to achieve Commercial Operation Date (COD) as per contracts, sources told Business Recorder . However, it is learnt that the Ministry of Water and Power is unwilling to scrap the contracts or renegotiate tariff, which, according to power sector analysts, can reduce tariff by 10 percent. more... (BR)

Hundred amendments to RGST agreed
Federal and provincial finance secretaries agreed on Wednesday to make about 100 amendments to the proposed Reformed General Sales Tax, but major issue relating to inter-provincial tax collection and the rate of tax remained unresolved. Informed sources said that finance secretaries would meet again on Dec 17 to complete the synchronisation of provincial RGST laws with the federal law and achieve uniformity in federal and provincial laws before the new legislation was tabled in the National Assembly in its forthcoming session. more... (D)

 

 

 

 

 

 

Sector Briefing

Rs 270 billion agriculture credit target set
The State Bank of Pakistan has set the indicative target of Rs 270 billion for agricultural credit disbursement for the current fiscal year 2010-11). The target is expected to be achieved without difficulty, as a large area of agricultural land has been badly affected by flood in August this year, and at present growers need huge financing for new corps and procure new agricultural equipment like tractor, etc. more... (BR)

Russia eyes Pak oil & gas sectors

Russian Federation Ambassador Budnik Andrey said political relations between his country and Pakistan are improving and Russian companies interested to invest in various sectors of Pakistan. He expressed Russia's interest in oil, gas exploration, Pak Iran gas pipeline, Turkmenistan, Afghanistan, Pakistan, India gas pipeline, electricity transmission. more (TFD)

SMEs to be assisted to enter EU markets

The Dutch Centre for the Promotion of Imports from Developing Countries (CBI) and the Engineering Development Board (EDB) on Wednesday agreed on exchange of information to benefit small and medium-sized enterprises aspiring to enter the EU markets. more... (D)

 

 

KSE Notices
 
 

Al-Qadir Textile Mills Limited
The company declared 10% final dividend for the year ended Sep 30, 2010 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.