Feb 04, 2011

KSE-100 Index
Previous Index 12,242.39
Current Index 12,359.06
Change % 0.95%
YTD (CY11) 2.80%
YTD (FY11) 27.13%

International Indicators
  Close %age
BSE-30 18,449.31 1.98
HANGSENG 23,908.96 1.81
NIKKEI 255 10,431.36 -0.30
FTSE 5,983.34 -0.30
DJIA 12,062.26 0.17
SSEC 2,798.96 0.29
NASDAQ 2,753.88 0.16
TASI 6,513.28 2.20
KSE(Kuwait) 6,774.50 -0.66
BSE 1,442.35 -0.73
MSM 6,856.64 0.09

Feb 01, 2011 1.85
Feb, 2011 1.85
YTD (FY11) mn 202.60

Money Market Updates
6m T-bill 26-Jan-11 13.71%
12m T-bil 26-Jan-11 13.88%
3m KIBOR 13.63%
6m KIBOR 13.77%
10 yrs PIB 14.27%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 118.10
PKR/GBP 138.62
PKR/USD 85.62
PKR/OMR 222.15

Oil $91.10/barrel
Change in % -0.06
Gold $1,351.5/ounce
Change in % 1.30

CPI Gen. - YoY (Dec-10) 15.5%
CPI Gen. - FY11 (Jul- Dec 10) 14.6%
NFNE Core INFL - YoY (Dec 10) 9.5%
NFNE Core INFL - FY11 (Jul- Dec 10) 9.6%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,1051
Population 174.86mn
US$ Reserves (Jan 8, 2011) $17.09 bn
Trade Balance Jul - Dec $(8.15)bn
Curr. A/C (Jul-Dec 10) $26mn
Remittances (July - Dec 10) $5.29bn
Foreign Investment (Jul - Dec 10) $746mn
All Sch. Banks Deposit Base (Jan 21, 2010) Rs704.34bn

NAVs and Returns
as of Feb 01, 2011
Funds Offer Redemption
POAIIF 52.4246/- 51.9004/-
Daily Return 6.83%
POIAAF 63.59/- 62.00/-
Daily Return 392.73%
POAAAF 60.88/- 59.36/-
Daily Return 580.95%
POAF 10.40/-
Daily Return 12.28%
*Daily Returns are calculated as per MUFAP guidelines

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

CCOP approves privatization of HEC, NPCCL
The Cabinet Committee on Privatization (CCOP), which met here on Thursday with the Federal Minister for Finance, Dr. Abdul Hafeez Shaikh in the chair, has granted approval of privatization of Heavy Electrical Complex (HEC) and National Power Construction Corporation Limited (NPCCL). more... (BR)

Remaining five months: FBR chalks out new plan to increase revenue
The Federal Board of Revenue has chalked out a new plan to increase revenue collection in the remaining five months (February-June) of 2010-11 by taking strict enforcement action against the withholding agents, who deduct taxes, but fail to deposit the same in the national exchequer. more... (BR)

Automatic clearance of ST refund: FBR introduces new provision in ERS
The Federal Board of Revenue (FBR) has introduced a new provision in the Expeditious Refund System (ERS) for automatic clearance of sales tax refund under no objection to avoid blockage of claims under the electronic system. In this regard, the FBR has amended the Sales Tax Rules 2006 through an SRO.82(I)/2011 here on Thursday. . more... (BR)








Cabinet dissolution likely in 48 hours
Prime Minister Yousuf Raza Gilani is expected to dissolve the Federal Cabinet in the next 48 hours, Geo News reported Thursday. more... (TN)

NA employees facing axe for `corruption`

A number of employees of National Assembly secretariat may face termination as the chairman of the NA standing committee on house and library will present before the house its report about a major corruption scandal on Friday (today). more... (D)

Benazir`s BlackBerry phones found
A joint investigation team (JIT) of the Federal Investigation Agency has found two BlackBerry mobile phones of the late Benazir Bhutto in her house in Karachi. more... (D)







Sector Briefing

Managing revenue shortfall: FBR should tax beneficiaries of loan write-offs: analysts

The Federal Board of Revenue (FBR) can easily manage its revenue shortfall for annual budgetary target by collecting income tax from the beneficiaries of loan write-offs. Although the Board has powers to charge income tax from the beneficiaries. more... (BR)

Afghan Transit Trade Rules 2011: Pakistani customs to examine all containers with broken seals
Pakistani customs authorities have been empowered to examine 100 percent containers with broken seals carrying transit goods for Afghanistan to avert missing containers' scams in future under the new Afghan Transit Trade Rules 2011. more... (BR)

Sale of LPG on signature bonus: OGDCL still facing 14 cases in High Courts '
Oil and Gas Development Company Limited (OGDCL) is still facing 14 cases in the High Courts of Sindh, Balochistan and Rawalpindi bench of the Lahore High Court against the sale of LPG on signature bonus from Bobi field. more... (BR)



KSE Notices

Fauji Cement Company Limited
The company has anounced to issue right share at a rate of 92 ordinary shares for every 100 ordinary shares at a discount of 5 per share. 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.