Dec 24, 2010
KSE-100 Index
Previous Index 11,848.62
Current Index 11,792.83
Change % -0.47%
YTD (CY10) 26.63%
YTD (FY11) 21.30%

International Indicators
  Close %age
BSE-30 19,982.88 -0.20
HANGSENG 22,902.27 -0.62
NIKKEI 255 10,346.48 -0.20
FTSE 5,996.07 0.20
DJIA 11,573.49 0.12
SSEC 2,842.46 -0.45
NASDAQ 2,665..60 0.22
TASI 6,609.53 0.06
KSE(Kuwait) 6,867.00 0.02
BSE 1,410.36 0.16
MSM 6,753.62 0.52

Dec 22, 2010 1.19
Dec, 2010 32.0.1
YTD (FY11) mn 194.738

Money Market Updates
6m T-bill 15-Dec-10 13.39%
12m T-bil 15-Dec-10 13.69%
3m KIBOR 13.42%
6m KIBOR 13.60%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 112.71
PKR/GBP 133.50
PKR/USD 85.79
PKR/OMR 220.89

Oil $90.67/barrel
Change in % 1.18
Gold $1,388.70/ounce
Change in % -0.11

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 - Nov 10) $4.43bn
Foreign Investment (Jul - Oct 10) $569mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 22, 2010
Funds Offer Redemption
POAIIF 51.9857/- 51.4658/-
Daily Return 8.88%
POIAAF 60.09/- 59.59/-
Daily Return -265.93%
POAAAF 558.53/- 57.07/-
Daily Return -298.14%
POAF 10.4047/-
Daily Return 53.99%
*Daily Returns are calculated as per MUFAP guidelines

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

RGST imposition: no plan to issue notification, says Khar
The government is paying heavy political price for getting RGST approved from the House and there is no plan to issue a notification for its imposition, said Hina Rabbani Khar, State Minster for Finance here on Thursday.more... (BR)

Pakistan poised to provide trade corridors : Zardari
President Asif Ali Zardari said on Thursday that Pakistan was well positioned to provide trade and communication corridors through its territory and ports to its friends and partners. more... (BR)

Income Tax Ordinance 2001: PBA proposes amendments to Seventh Schedule
Pakistan Banks' Association (PBA) has proposed amendments in the Seventh Schedule (Banking Schedule) of the Income Tax Ordinance 2001 to remove a major anomaly relating to carryover of charge for bad debts provisions on account of Consumer and Small and Medium Enterprises (SME) sector which resulted in adverse accounting implication for banks. more... (BR)

Record govt borrowing: Interest rate may go up again
The record borrowing by the government and its heavy reliance on printing of notes created fear among the investors. more... (D)




Pakistan will brook no dictation, says PM
Reacting to opposition challenges and a controversy fuelled by media reports, Prime Minister Yousuf Raza Gilani assured the National Assembly on Thursday his government would not succumb to any foreign dictation about when and where to launch a military operation in the so-called war on terrorism. more... (D)

US court summons: if ISI not willing, then no one can force it: Prime Minister
Prime Minster Yousuf Raza Gilani Thursday has stated that no one can compel the Inter-Services Agency (ISI) to appear before a US court. The PM refrained from making a policy statement saying it was a 'sensitive issue' and needed some consultation, but categorically stated, "I assure you (National Assembly) that if ISI is not willing, then no one can force it to appear before a US court." more... (BR)

JI against handing over of ISI officials to US
Reacting aggressively to the rare demand of US court of summoning officials from the premier Intelligence Agency of Pakistan, ISI, the Jamaat-e-Islami chief Syed Munawwar Hassan urged government to part ways with global coalition forged for war on terrorism, Geo News reported. more... (TN)






Sector Briefing

Finance Ministry assures to release Rs 35 billion to PSO
Finance Ministry has assured release of Rs 35 billion to cash-strapped Pakistan State Oil (PSO) which is at the verge of default due to non-payment of dues by power sector. PSO is continuing supply of oil by borrowing loans from banks. Bank sources said that PSO overdraft was about to reach final limit. more... (BR)

OGDCL receives three bids for KPD project
Oil and Gas Development Company Limited (OGDCL) on Thursday received three bids for multi million dollar Kunnar Pasakhi Deep (KPD) project following a controversial formula, which gives discretionary power to OGDCL management to award contract to the costlier bidder. more... (BR)

Oil prices up
Oil prices traded close to recent two-year highs on Thursday, as traders continued to absorb news that US crude reserves fell by more than double market expectations last week. . more... (D)


KSE Notices

Deewan Cement Limited
The board of directors of DCL has fixed the number of the board to be elected pursuant to the provisions of Section 178 of the Companies Ordinance, 1984 be and is hereby fixed as Seven 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.