The Financial Daily-Epaper-02-03-2011

International

Sucide bomber killed in premature blast

174 Pakistanis return home from Libya See on 2

PIA Passenger arrested in UK See on Page 12

*Crude Oil (brent)$/bbl 113.62

*Crude Oil (WTI)$/bbl 98.48

*Cotton $/lb 198.23

*Gold $/ozs 1,423.40

*Silver $/ozs 34.32

Malaysian Palm $ 1,168

GOLD (NCEL) PKR 38,934

KHI Cotton 40Kg PKR 12,860

*Last Updated 20:00 PST

Yearly(Jul, 2010 up to 28-Feb-2011)

Monthly(Feb, 2010 up to-28-Feb-2011)

Daily (28-Feb -2011)

Total Portfolio Invest (19-Feb-2011)

195.95

-4.81

-0.46

2987

-3.83

-0.68

-0.52

2.42

-0.40

2.56

0.45

SCRA(U.S $ in million)

Portfolio Investment

FIPI (1-Mar-2011)

Local Companies (1-Mar-2011)

Banks / DFI (1-Mar-2011)

Mutual Funds (1-Mar-2011)

NBFC (1-Mar-2011)

Local Investors (1-Mar-2011)

Other Organization (1-Mar-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (19-Feb-11)

Inflation CPI% (Jul 10-Jan 11)

Exports (Jul 10-Jan 11)

Imports (Jul 10-Jan 11)

Trade Balance (Jul 10-Jan 11)

Current A/C (Jul 10- Jan 11)

Remittances (Jul 10 - Jan 11)

Foreign Invest (Jul 10-Jan 11)

Revenue (Jul 10 Jan 11)

Foreign Debt (Dec 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Dec 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.59bn

14.55%

$13.23bn

$22.55bn

$(9.32)bn

$(81)mn

$6.12bn

$1.18bn

Rs 765bn

$58.39bn

Rs 5497.4bn

$338.2mn

-1.57%

4.10%

$1,051

175.32mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

17.75

2.00

1.70

11.30

PKR/Shares

111.18

151.80

42.76

36.35

38.64

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

23-Feb-2011

23-Feb-2011

23-Feb-2011

29-Nov-2010

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

01-Mar-2011

13.49%

13.69%

13.86%

14.00%

13.28%

13.59%

13.76%

14.14%

14.26%

14.18%

14.21%

14.20%

14.56%

14.77%

14.97%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 86.70 87.70

Canadian $ 87.60 88.60

Danish Krone 15.70 15.90

Euro 117.80 119.50

Hong Kong $ 10.50 11.00

Japanese Yen 1.028 1.054

Saudi Riyal 22.20 22.90

Singapore $ 66.90 67.90

Swedish Korona 13.20 13.40

Swiss Franc 91.00 92.20

U.A.E Dirham 23.20 23.40

UK Pound 138.90 140.20

US $ 85.45 85.75

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.94 87.14

Canadian $ 88.03 88.23

Danish Krone 15.84 15.87

Euro 117.56 117.83

Hong Kong $ 10.98 11.00

Japanese Yen 1.042 1.044

Saudi Riyal 22.80 22.85

Singapore $ 67.29 67.45

Swedish Korona 13.53 13.56

Swiss Franc 91.83 92.05

U.A.E Dirham 23.28 23.33

UK Pound 137.80 138.12

US $ 85.52 85.71

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

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Weather Forecast

Index Close Change

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Nikkei 225 10,754.03 129.94

Hang Seng 23,396.42 58.40

Sensex 30 18,446.50 623.10

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FTSE 100 5,941.74 52.27

*Dow Jones 12,216.24 10.10

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Global Indices

India seeks Pakistanreply on 26/11 probe

See on Page 12

KARACHI: President Asif Ali Zardari presiding over a meeting on gas situation in thecountry held here at Bilawal House. Meeting was attended by representatives of APTMA,

Pakistan Business Council, fertiliser producers and the manufacturers of value addedgoods in the country. CM Sindh Syed Qaim Ali Shah was also present in the meeting.-APP

Karachi, Wednesday, March 2, 2011, Rabi-ul-Awwal 26, Price Rs12 Pages 12

Special Correspondent/Agencies

ISLAMABAD: The EconomicCoordination Committee of theCabinet (ECC) on Tuesdayapproved the Strategic TradePolicy Amendments.

The ECC met here with theFederal Minister for Financeand Economic Affairs, Dr AbdulHafeez Shaikh in the chair alsoapproved summaries by theMinistry of Commerce, FinanceDivision and Ministry of Textileand Industries and directedMinistry of Commerce to give adetailed presentation on the mat-ter of rationalising the prices oflocally manufactured cars.

The Ministry of Commerce inits summary to the ECC hadrequested for approval of certainamendments as per the laiddown procedure, as the PrimeMinister had already grantedapproval of the same.

In another summary theFinance Division's ExternalFinance Wing had soughtapproval of Equity Investment

in Netherlands Remittances of$15 million.

The External Finance Wing inits summary has stated that theintended investment will help todiversify the export base ofPakistan by exporting the valueadded products such as HalalFoods in international marketfor which Engro CorporationLimited has been allowed toremit an amount of $15 millionfor setting up a company inNetherlands named EngroFoods Limited.

The Netherlands Governmentwill purchase an establishedBranch of Halal Products.

The accumulative export rev-enue is expected to be $109 mil-lion between 2011-2020 anddividend to the tune of $40 mil-lion.

The approval was given aftertaking a commendation of thecriteria for permission to allowinvestment abroad by residentPakistan or firms.

The ECC has sought a detailedpresentation on determination ofthe data on Completely

Knocked Down (CKD) kits fornew entrants:Components, partsand CKD kits not manufacturedlocally at 50 per cent of theexisting rate of 32.5 per cent ad-val customs duty, Components,Parts and CKD kits manufac-tured locally at 50 per cent ofthe prevailing rate of 50 per centad-val customs duty.

Furthermore, ECC has alsoapproved issuance of govern-ment's guarantee of Rs1.5 bil-lion for Textile City in Karachinear Port Qasim on the area of1250 acres.

It is a joint venture ofGovernment of Pakistan andPrime Financial Institute. Landfor Pakistan Textile City hasbeen acquired from Port QasimAuthority.

Once completed the PakistanTextile City will offer variousfacilities for value added textilesector including capital powerplant, dedicated water pipeline,provision of natural gas, basewater plant, workers residentialcomplex and training institute etc.

See # 1 Page 11

ECC OKs TradePolicy Amends

Finance Minister Shaikh chairs meeting

MoC urged to rationlaise local auto pricesRs1.5bn guarantee for Textile City also nodded

ISLAMABAD: The Federal Board ofRevenue (FBR) has collected tax rev-enues of Rs864.999 billion up toFebruary 26, according to provisionalfigures provided by the Board.

The net revenue collections duringthe month till February 26 areRs94.932 billion.

However, the collections willincrease when the board compiles thefigures of the whole month up toFebruary 28.

Of the total revenue collections ofthe eight months of the current finan-cial year, the FBR had collectedRs758.606 billion as domestic taxesand Rs106.393 billion as customsduty.

Among the domestic taxes,Rs304.926 billion were collected asdirect taxes and Rs376.291 billion assales tax, including Rs186.769 billionas sales tax on imports and Rs189.522billion domestic sales tax.

The Board collected Rs77.389 bil-lion as Federal Excise Duty (FED),including Rs10.489 as FED importsand Rs66.900 billion as domestic FED.

On the other hand, revenue ofRs11.956 billion was collected underthe head of customs during the monthof February (till 26) whereas thedomestic taxes stood at Rs82.976 bil-lion including direct taxes of Rs27.189billion.

See # 4 Page 11

FBR tax kitty upat Rs865bn in 8M

Staff Reporter / Agencies

KARACHI: President Asif AliZardari on Tuesday asked gassupply companies to resumenatural gas supply to value-added textile and fertiliser sec-tors from Wednesday for fivedays a week.

He was chairing an urgentmeeting convened on therequest of APTMA and value-added textile sectors about gasload-shedding in the country atBilawal House here.

Sindh Chief Minister SyedQaim Ali Shah, representativesof All Pakistan Textile MillsAssociation (APTMA), fertilis-er producers, value-added sec-tor and senior officials ofPepco, SNGPL and SSGC werealso present on the occasion.

Briefing newsmen, MediaCoordinator Taj Haider andSharmila Farooqui said thatPresident Zardari has directedgas utilities to ensure gas is

supplied for five-day a week tovalue-added sector.

The President said the coun-try cannot afford to hinder pro-duction of value-added sectorwhich is the backbone of theeconomy.

He constituted a committeecomprising of representative ofvalue added and fertiliser sec-tors and senior officials to sug-gest long term solution for gasavailability to industry and alsofor LNG terminal.

It was decided that normalgas supply will be resumed toindustry in the country oncechilly weather ends in the nexttwo to three weeks.

Committee to be headed by theMinister for Petroleum or in hisabsence by the SecretaryPetroleum will comprise of repre-sentatives of All Pakistan TextilesMills Association (APTMA)Federations of Chamber ofCommerce and Industry,

See # 3 Page 11

Value-added sectors

to get gas 5day/wk

Staff Reporter/ Agencies

ISLAMABAD/ KARACHI:Muttahida Qaumi Movement (MQM)on Tuesday staged walk out from theNational Assembly session in protestagainst hike in POL prices, describingit economic burden on poor masses.

Talking to media persons outside theParliament House, the MQM leaderHaider Abbas Rizvi said despite assur-ance by Prime Minister Syed YousufRaza Gilani that the fuel price issuewould be presented before a parlia-mentary committee, the POL prices

were hiked unilaterally."The fresh raise has heavily bur-

dened the poor masses already suffer-ing from economic worries, this willnot be accepted," he said.

He said the MQM could announceits future plan of action if governmentdid not take back the decision of POLprice hike.

Meanwhile, the increase in petrole-um product prices has been challengedin the Lahore high court.

Advocate Mateen-ul Haq Chaudhryhas filed an application in the

See # 5 Page 11

MQM digs heelsin over price rise

Raise challenged in LHC; transporters announce strike

New cabinetchosen with

care: PMISLAMABAD: PrimeMinister Syed Yousuf RazaGilani Tuesday said that newCabinet members have beenchosen very carefully and theprinciple of public support hasbeen followed.

He said that government hastaken each and every step dur-ing last three years for the pro-motion of democratic valuesand would continue its princi-pled and issue-based politics inthe future as well.

Prime Minister was talking toParliamentarians who called onhim separately at ParliamentHouse Chamber here.

They included Syed Riaz HussainPirzada and Jamshed Dasti.

See # 7 Page 11

PSO debit tops Rs154bn markISLAMABAD: The different power generation companies as well as Independent Power Producers(IPPs) have to pay the debt of Rs154.220 billion to Pakistan State Oil (PSO) on account of purchaseof furnace oil. A well placed source in PSO told this news agency on the condition of anonymity bythe end of February various power generation companies including Faisalabad, Jamshoro Piranghaiband Guddu power plants owe Rs50,231 million to PSO as they purchased 9203 metric ton furnace oilfrom it on credit basis.

According to the source IPPs including HUBCO and KEPCO have bought 15,405 metric ton fur-nace oil and both the power companies would have to repay the amount of Rs 98, 125 million to PSO.

As per break-up Hubco owed Rs 69,702 million to Pakistan State Oil as it purchased 3000 metric tonoil for the production of electricity. While KEPCO would also pay back of Rs28,423 million againstthe 12,405 metric ton furnace oil which was acquired by the company from PSO. See # 2 Page 11

Rs47.54bnraised viaSukuks

Staff Reporter

KARACHI: Governmentraised Rs47.54 billion ($555million) by selling Islamicbonds in the domestic market,the central bank said Tuesday.

The cut-off margin will be thesix-month treasury bill weight-ed average yield, which in thelast auction on February 23,was 13.6750 per cent.

The issue, known as theGovernment of Pakistan IjaraSukuk, is a three-year bond.

Settlement for the auctionheld on Tuesday will be onMarch 7.

Top courtgives axe

to DG FIA ISLAMABAD: Chief Justiceof Pakistan IftikharMuhammad Chaudhry onTuesday ordered sacking ofDirector General FederalInvestigation Agency (FIA)Wasim Ahmed within threedays.

The court also canceled thebails of all accused in Hajj cor-ruption case.

A six-member bench of apexcourt headed by Chief JusticeIftikhar Muhammad Chaudhryresumed hearing of the Hajjcorruption case.

During the hearing the ChiefJustice said Wasim Ahmed hadbotched up Hajj scam probe.He said the government shouldappoint him somewhere else, ifit considers the DG a compe-tent officer.

Justice Raja Fayyaz statedthat the Hajj scam could notbe justly investigated underthe supervision of the currentDG FIA.

See # 6 Page 11

POL price hike forces ‘Q’, MQM to walk out

President forms body to look into issue

2 Wednesday, March 2, 2011

KARACHI: On the

directive of Governor

Sindh Dr. Ishrat-ul-Ebad

Khan, City District

Government has allocated

space beneath 14 flyovers

in Karachi for setting up

of emergency centers.

These centers will pro-

vide immediate help to

citizens in case of any

emergency or casualty.

Work has already been

started in the first phase

to establish emergency

centers beneath 5 fly-

overs while 9 more cen-

ters will be setup in dif-

ferent areas of city during

2 more phases.

These emergency cen-

ters will be equipped with

ambulances, fire tenders,

municipal services

machinery and vehicles.

Rangers and Police

kiosks will also be estab-

lished there while the city

government office to be

established in this center

will run round the clock.

This was decided in a

meeting held in the Civic

Center on Tuesday. The

meeting was chaired by

DCO Karachi Muhammad

Hussain Syed and attend-

ed by EDO Works &

Services Rasheed

Mughal, EDO Municipal

Services Masood Alam,

EDO Transport Atiq Baig

and other city government

officers.

Earlier, DCO Karachi

had constituted a com-

mittee which was com-

prised of 8 senior engi-

neers to conduct a sur-

vey of city and submit

report on the establish-

ment of emergency help

centers beneath 38 fly-

overs.- NNI

Emergency centers under

flyovers planned

CDGK allocates space

ISLAMABAD: Speakersat a seminar on Tuesdaystressed the need forenhancing trade relationswith neighbouring coun-tries, removing hurdles toincrease foreign inflowsand restructuring the fiscalpolicies for rapid industri-alization to obtain a highereconomic growth inPakistan.

The seminar "EconomicGrowth: BeyondWashington Consensus"was organized by thePlanning Commission ofPakistan with an aim tolook into experiences andhow the country can moveforward with a growth andreforms agenda".

Addressing the seminar,Senior Fellow at PetersonInstitute for InternationalEconomics USA, Dr. JohnWilliamson said that due toindustrial growth Chinahas reduced its povertylevel from 84 per cent in1981 to 16 per cent in2002.

He said that democraticcountries witnessed rapideconomic growth due to

continuation of economicpolicies during the courseof time as compared to thecountries where the dicta-tors had ruled.

Speaking on the occasionDr. Samar Mubarakmandsaid that competitivenessof domestic products werevital for industrializationand economic growth inthe country.

He said that the cheapand skilled labour, avail-ability of raw material oneconomical rates were themain causes of rapid indus-trialization and economicgrowth.

He said that efforts werebeing made to minimizethe cost of domestic pro-duction with the provisionof raw material and powerat economical rates. In thisregard, the exploitation ofhuge natural resourcesincluding coal, copper andother sources has beenstarted, he added.

He said that strict controland peaceful atmosphere inthe industrial sector ofChina was making its econ-omy more conducive. -APP

Call to enhancetrade with

neighbouringcountries

Planning Commission seminar

ISLAMABAD: TheSenate StandingCommittee on Defence andDefence Production onTuesday underlined theneed of transparency in thepromotion process and rec-ommended that merit andseniority principle beobserved while giving pro-motion and new appoint-ments in PakistanInternational Airline (PIA).

The committee, whichmet under the chairman-ship of Senator Lt. Gen.ss(Rtd) Javed Ashraf here,was briefed on the share ofKhyber Pakhtunkhwa inemployments in PIA andsystem of appointmentsbesides details of appoint-ments made in 2010 onshare of Kyber

Pakhtunkhwa with localdomicile.

The committee discussedflights schedule fromKyber Pakhtunkhwa tovarious cities and ratio andcomparison of the fares ofPIA for destinations inKyber Pakhtunkhwa withother cities of country.

The committee recom-mended that advertise-ments must be published inlocal and national lan-guages in the leadingnewspapers of the countryand province.

The committee suggestedthat flights be started on dailybasis from Peshawar toLahore via Islamabad.Managing Director PIANadeem Khan Yousafzairesponded that the PIAwould

consider the suggestion.Members of the commit-

tee sought complete detailsof employees of PIA (grad-wise) working in KkyberPakhtunkhwa and those onthe Board of Directors.

The committee also sug-gested that flights be re-operated fromSwat/Mangora as securitysituation was satisfactorythere.

Among others whoattended the meeting wereSyed Faisal Raza Abidi,Sardar Ali Khan, SyedTahir Hussain Mashhadi,Haji Muhammad Adeel,Raja Muhammad Zafar-u-Haq, Senator JanMuhammad Khan, ProfKhurshed Ahmed and TariqAzim Khan.-APP

Senate body urgestransparency in

PIA affairs

ISLAMABAD: PrimeMinister Syed Yusuf RazaGilani said that the govern-ment has prepared a num-ber of programmes at var-ious levels for developingthe skills and abilities ofour youth who are thefuture of the country.

It is incumbent upon theyounger generation, headded, to equip themselveswith Education and skillsneeded to face the futurechallenges.

The Prime Minister wastalking to a group of youngstudents belonging to

Headstart School whowould be representing thecountry at the model unitednations moot for childrenbeing organized by theGovernment of Turkeyfrom March 7-14 inIstanbul. The meeting withthe children took place inthe Prime Minister'sChamber at the ParliamentHouse here on Tuesday..

While explaining to thechildren about the func-tioning of the Senate andthe National Assembly, thePrime Minister mentionedthat the "question hour"

during sessions as well asParliamentary Committeesof the Parliament are theforums of accountability ofthe government. Besides,the civil society and themedia, he said, Parliamentalso keeps a watch over theworking of theGovernment. All theseinstitutions, he mentioned,help to strengthen democ-racy and functioning ofdemocratic institutions.

The Prime Ministeradvised the children to dis-play exemplary behaviourwhile participating in the

model united nations mootand represent the countryas true Pakistanis.

The children assured thatthey will participate in theMUN moot whole hearted-ly and win the honour forthe country. They alsoexpressed hope that thechildren of the country willbe encouraged to partici-pate in such like eventsheld in various parts of theworld. They also asked thatPakistan should also try toarrange events to invitechildren from other coun-tries.- NNI

Govt to developyouth skills:PM

TFD Report

KARACHI: Agility, a for-eign firm operating PakistanCustoms ComputerisedClearance System (PcCCS)has decided to closed downits system in Pakistanbecause of Federal BoardRevenue's attitude in notclearing its dues; not evennegotiating an arbitration.

The Agility had given rea-sonable time to FBR torecommence negotiationsfor continuation of PaCCSbefore February 28 but noheed was paid to its request,say Agility sources.

Since May 2010, the FBRwas given multiple exten-sions on the desire of tradebodies, ministry of financeand PaCCS Users but FBRtook all those extensions asgranted and assumed thatthe system will continuewithout negotiations andreaching a settlement with

Agility.The trade suffered huge

losses when the PaCCS sys-tem was shut down byAgility for only one day ear-lier on May 28 last year.

The reason for ISAF con-tainers scam was manualsystem. There is no auto-mated system in place tocontrol such scams. Someof the officials inside FBR,having vested interest areallegedly active in non-implementation of PaCCS.The PaCCS's one of thesalient features is its corrup-tion free module whichhurts the interests of someofficials.

The government ofPakistan did not make anyinvestment during thelaunch of this automatedcustoms computerised sys-tem, so the officials in-charge do not realize thesignificance of this system.

PaCCS beingclosed down

TFD Report

KARACHI: DuPontPakistan Operations (Pvt.)Ltd. under the DuPontCommunity Fund Program[DCF] collaborated withNaya Jeevan to providehealth insurance plan cover-age to almost 250 SOSVillage children and 100resident mothers anddomestic staff. Naya Jeevanis a not-for-profit socialenterprise that is dedicatedto rejuvenating the lives ofurban, low-income familiesthroughout Pakistan by pro-viding them with affordableaccess to quality healthcare.

Under this program, thechildren will have access toa 24 hour medical hotline totrained medical doctors atNaya Jeevan and to a nation-

wide network of over 140quality, private hospitals.The coverage will includeall in-patient associated hos-pitalization for emergen-cies/trauma, scheduled sur-gery, diagnostics, imaging,blood supplies, labs, ambu-lance services and outpatientconsultation/treatment andmedicines. The program willalso conduct annual healthcheckups by trained medicaldoctors.

"Our core values, safetyand health, are at the heart ofeverything we do at DuPont.This programme is special tous as it touches the lives ofour younger generation.These children are our futureand it is our responsibility tohelp them stay safe. We hopethis contribution will helpsupport this important task.

DuPont healthcover for SOS

Village children

KeepGlowin’,

Keep Playin’KARACHI: As the cricketseason begins, GLOWexposes a wave of greatpassion amongst the youth.GLOW has introduced anew SMS bundle, 100SMS @ 50 paisas/day toany number, any networkin Pakistan. This offer hasbeen designed keeping inmind the pocket size andneeds of the youth seg-ment.

Also, an interesting IVRbased service called'Fantasy Cricket' will beavailable that can beaccessed by calling 1200.This service allows cus-tomers to set up their teamand receive regularupdates/reminders on theperformance of their select-ed players. The top 3 win-ners will be given excitingcash prizes.

Glow Raat-Din packagein which customers cantalk to their 10 Glow Gangfriends at Rs.2.99/hourduring the night andRs.1.99/30 minutes duringdaytime.-PR

Strong performance

of HSBCMENA

KARACHI: SimonCooper, CEO HSBCMENA has said that"HSBC in the Middle Eastand North Africa delivereda strong financial perform-ance in 2010, delivering aprofit-before-tax ofUS$892 million. This isalmost double the profitthat the region achieved in2009, and is a testament tothe bank's success andinvestment in the region.

"Throughout a challengingyear, we remained open forbusiness, and the resultsspeak for themselves. MiddleEast and North Africa is a keyelement in HSBC Group'semerging markets strategy,and our outlook for the regionremains optimistic. We willcontinue to invest in thisregion for growth, and willcontinue to be a strong part-ner to our customers."-PR

SAI concernsover SBP figures

KARACHI: The SITEAssociation of industry(SAI) has raised its con-cerns on the recent figuresreleased by the State Bankof Pakistan (BP) about a fallin Large-ScaleManufacturing (LSM).

Apparently the picture wasbetter in terms of export rev-enues which are primarily dueto the increase in commodityprices like cotton but thisdoesn't depict the true imageof the industrial economy asthis increase is not in volumeterms. In real terms productionhave curtailed and resulted inde-industrialization of thecountry in the last 2-3 years.

This was stated in a jointstatement by SAI's ChairmanAbdul Wahab Lakhani,Senior Vice Chairman, AsadNisar and Vice ChairmanSanaullah Abdullah. De-industrialization is also adirect result of deterioratinglaw and order situation in thecountry especially here whichis the hub of industrial activi-ty and drives largest portionof government revenue andemployment generation.-NNI

PICIC-CFinterim

distributionKARACHI: The ChiefExecutive of PICIC AssetManagement Company, themanagement company ofPICIC Cash Fund (PICIC-CF), on behalf of Board ofDirectors, approved abonus of Rs1.0000 per unit(0.9993% of the Ex-NAVof 26th January, 2011) asinterim payout.

An investor holding 100units as on 25th February,2011 will get 0.9995 unitson the ex-bonus price ofRs.100.0513 per unit, theproportionate will apply toactual holdings. Unit hold-ers who have opted forcash payout will get thecash dividend accordingly.

The above entitlementwill be paid to the unitholders, whose namesappear in the register ofunit holders of PICIC-CFat the close of Business dayon February 25, 2011.-PR

TAAP dinner forMinwalla

TFD Report

KARACHI: Due to thelaw and order situation inthe country, the sightsee-ing and tourist attractionplaces for the internation-al tourists, are almostidle, this is the high timethat Government shouldtake some drastic actionsto save the tourist placesand the heritage ofPakistan both for domes-tic and internationaltourists, as well.Government should alsoformulate a balanced pol-icy to enhance theirexchequer throughTourism; this was statedby the Chairman, TravelAgents Association ofPakistan, M. YahyaPolani at a farewell din-ner in honour of DarayusHappy Minwalla, the out-going Country Managerof Cathay Pacific.

KARACHi: Robert Gibson CMG,U.K, Director Trade &

Investment, Pakistan and Deputy High Commissioner, Karachi

hosted a reception in honour of the delegation of the

Birmingham Chamber of Commerce & Industry at his

residence. Photo shows Siraj Kasim Teli. Majyd Aziz, and

Barrister Abdul R. Sattar, along with host and members of the

delegation.-Staff Photo

KARACHI: (L-R) Tauqir Ahmed, CEO DuPont Pakistan,

Zahida Hashmi, SOS Village Director, Dr Asher Hasan,

Founder & CEO, NAYA JEEVAN distributing health

insurance plans to SOS village children.-Staff Photo

KARACHI: Telenor Pakistan has opened a new Sales &

Service Center in Korangi Industrial Area. Picture shows

Aamir Ibrahim, Chief Marketing Officer Telenor Pakistan cut-

ting the ribbon at the inauguration. (L to R): Abdul Qadir

Kharadi (Regional Manager, Sales & Service Center - South),

Malik Faisal Qayyum (Director S&D), Aamir Ibrahim, Ali

Nawaz (Asst. Manager, Korangi S&SC), Ahmed Nadeem Pasha

(Regional Director - South-1) and Adnan Hassan (Director

Sales & Service Center).-Staff Photo

ISLAMABAD: Federal Minister for Interior, Senator A. Rehman Malik chairing a high level meeting to review law and order sit-

uation in Balochistan at Ministry of Interior.-Online

TV PROGRAMMES

WEDNESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:00 News

11:30 Aap Ki Baat (Rpt)

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Aap Ki Baat

19:00 News

19:05 Hal Kya Hai

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With Jasmeen

23:00 News

23:30 24

'Mera Pak Conf' on March 11KARACHI: The Karachi Chamber of Commerce andIndustry (KCCI) in collaboration with COMMECS isorganising 'Mera Pakistan Conference 2011'at a localhotel on March 11.

"It is not a conference but a big issue to address the per-ception of Pakistan positively," said Mohammed Asif,President of COMMECS, the old students' associationGovernment College of Commerce and Economics,Karachi, while addressing press conference in this regardalong with KCCI President Saeed Shafiq here onTuesday.He said the conference was aimed to explore theunexplored sectors of Pakistan in a positive manner. "Wewant to tell the world that are today after 1947," he added.

Asif was of the view that propagation of negative image ofthe country in local and international media has damaged thebusiness environment in the country and added that medianeeds to highlight also the positive image of Pakistan.

"We are rich in natural resources and manpower and weneed to give hope to youngsters," he maintained.-APP

MBL awarded 'BestIslamic Bank in Pakistan'

Staff ReporterKARACHI: Meezan Bank Ltd (MBL), Pakistan's firstand largest Islamic bank, has been awarded 'Best IslamicBank in Pakistan' for 2010 by Islamic Finance News ofREDmoney Group in a ceremony held in Kuala Lumpur,Malaysia. The Islamic Finance News (IFN) Awards honorthe best in the Islamic financial industry. It is one of themost prestigious and recognized awards in the globalIslamic capital markets.

The award brings to light a highly successful andrecord-breaking year for Meezan Bank, the only AA-rated Islamic Bank in Pakistan.

Deadline Over

MUMBAI: The Indian rupeestrengthened to a near two-month high on Friday, trackinga rally in the domestic equitymarket, while dollar inflowsand the greenback's weaknessoverseas also aided.

The partially convertiblerupee closed at 44.945/955 perdollar against Monday's closeof 45.27/28, after touching44.91, its highest since Jan 4.

"I see the rupee weakeningfrom here. It should settle in arange between 45-45.25 laterthis week," said AshutoshKhajuria, head of treasury atIDBI Bank in Mumbai.

He said the trigger for therise in the rupee was the April-January export data as well asforeign fund inflows into thedomestic stock market.

Exports in April-January rosean annual 29.3 per cent to$184.6 billion.

Traders said a weak dollaroverseas and some dollarinflows also aided the rupee.

A chief trader with a state-run bank said there were some

inflows related to the Reliance-BP deal adding to rupee's rise.

The one-month onshore for-ward premiums were at 25.50points against 27.25 points onMonday, while the one-monthoffshore non-deliverable for-ward contracts were quoted at45.18, weaker than the onshorespot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, the MCX-SX andon the United Stock Exchangewere at 45.1825, 45.1775 and45.1800, respectively, with thetotal traded volume at about$7.4 billion. -Reuters

Indian rupee surgeson robust local stocks

3Wednesday, March 2, 2011

Currencies Rate

Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 01/03/2011

A USD GBP CAD EUR JPY

O/N 0.22550 0.55625 0.97167 0.58625 SN 0.11313

1WK 0.24950 0.57563 1.00583 0.67000 0.11750

2WK 0.25500 0.58313 1.04083 0.75000 0.11938

1MO 0.26100 0.61250 1.08100 0.82188 0.13250

2MO 0.28550 0.68250 1.14917 0.91688 0.15563

3MO 0.30950 0.80250 1.21267 1.04938 0.19125

4MO 0.35100 0.88375 1.28117 1.13375 0.24313

5MO 0.40950 0.99125 1.35083 1.22375 0.30000

6MO 0.46250 1.11000 1.42133 1.32813 0.34625

7MO 0.51600 1.19013 1.50700 1.39063 0.39625

8MO 0.56975 1.27513 1.59200 1.45063 0.44563

9MO 0.62225 1.35763 1.67250 1.51938 0.49000

10MO 0.67550 1.43938 1.76167 1.57750 0.51688

11MO 0.72750 1.50750 1.85250 1.63625 0.54250

12MO 0.78875 1.57625 1.94500 1.69875 0.57000

Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ

U.S.A. 85.70 85.50 85.25U.K. 138.12 137.80 137.37EURO 117.83 117.56 117.18CANADA 88.23 88.03 87.79SWITZERLAND 92.05 91.83 91.59AUSTRALIA 87.14 86.94 86.71SWEDEN 13.56 13.53 13.49JAPAN 1.04 1.04 1.04NORWAY 15.31 15.28 15.24SINGAPORE 67.45 67.29 67.11DENMARK 15.87 15.84 15.79SAUDI ARABIA 22.85 22.80 22.74HONG KONG 11.00 10.98 10.95CHINA 13.04 13.01 12.98KUWAIT 307.72 307.00 306.19MALAYSIA 28.16 28.09 28.02NEW ZEALAND 64.45 64.30 64.13QATAR 23.53 23.48 23.42U.A.E. 23.33 23.28 23.22KR WON 0.08 0.08 0.08THAILAND 2.80 2.80 2.79

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3838 1.3839 1.3855 1.3788

USD-CHF 0.9290 0.9295 0.9320 0.9285

GBP-USD 1.6286 1.6292 1.6327 1.6255

USD-CAD 0.9720 0.9724 0.9732 0.9685

AUD-USD 1.0179 1.0183 1.0201 1.0155

EUR-JPY 113.6000 113.6400 113.7200 112.9100

EUR-GBP 0.8493 0.8496 0.8503 0.8471

EUR-CHF 1.2855 1.2860 1.2892 1.2821

GBP-JPY 133.7300 133.7900 134.1200 132.9800

CHF-JPY 88.3300 88.3800 88.3900 88.0500

Gold 1421.6500 1422.4300 1422.9500 1409.6500

As per 22.00 PST

Time Source Events Forecast Previous

5:30 AUD GDP q/q 0.6% 0.2%

2nd-4th GBP Halifax HPI m/m -0.6% 0.8%

14:30 GBP Construction PMI 53.0 53.7

15:00 EUR PPI m/m 1.1% 0.8%

17:30 USD Challenger Job Cuts y/y -46.0%

18:15 USD ADP Non-Farm Employment Change 178K 187K

18:30 CAD RMPI m/m 3.1% 4.2%

18:30 CAD IPPI m/m 0.5% 0.7%

Source Events Actual Forecast Previous

JPY Unemployment Rate 4.9% 4.9% 4.9%

AUD Retail Sales m/m 0.4% 0.3% 0.2%

AUD Current Account -7.3B -6.9B -6.5B

CNY Manufacturing PMI 52.2 52.2 52.9

AUD Cash Rate 4.75% 4.75% 4.75%

GBP Nationwide HPI m/m 0.3% -0.2% -0.1%

CHF SVME PMI 63.5 60.8 60.5

GBP Manufacturing PMI 61.5 61.5 61.5

EUR CPI Flash Estimate y/y 2.4% 2.4% 2.3%

EUR Unemployment Rate 9.9% 10.0% 10.0%

CAD Overnight Rate 1.00% 1.00% 1.00%

USD ISM Manufacturing PMI 61.4 60.9 60.8

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada April 12, 2011 September 8, 2010 1%

Bank of England March 10, 2011 March 5, 2009 0.50%

Bank of Japan March 15, 2011 December 19, 2008 0.10%

European Central Bank March 3, 2011 May 7, 2009 1%

Federal Reserve March 15, 2011 December 16, 2008 0.25%

Swiss National Bank March 17, 2011 March 12, 2009 0.25%

The Reserve Bank of Australia April 5, 2011 November 2, 2010 4.75%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, March 01,2011 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

1WEEK 2 WEEK 1 MONTH 3 MONTH 6 MONTH 9 MONTH 1YEAR 2YEARS

BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK

ABLN 12.50 13.00 12.60 13.10 12.70 13.20 13.35 13.60 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 12.70 13.20 12.85 13.35 12.95 13.45 13.40 13.65 13.60 13.85 13.70 14.20 13.80 14.30 13.90 14.40

ASPK 12.80 13.30 12.80 13.30 12.80 13.30 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

CIPK 12.70 13.20 12.75 13.25 12.75 13.25 13.40 13.65 13.60 13.85 13.70 14.20 13.90 14.40 14.10 14.60

DBPK 12.50 13.00 12.70 13.20 12.75 13.25 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.80 14.30

FBPK 12.65 13.15 12.70 13.20 12.75 13.25 13.40 13.65 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.70 13.20 12.75 13.25 12.80 13.30 13.35 13.60 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 12.65 13.15 12.75 13.25 12.85 13.35 13.35 13.60 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

HKBP 12.70 13.20 12.70 13.20 12.80 13.30 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

HMBP 12.70 13.20 12.85 13.35 12.85 13.35 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

SAMB 12.50 13.00 12.70 13.20 12.85 13.35 13.30 13.55 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

MCBK 12.60 13.10 12.65 13.15 12.75 13.25 13.35 13.60 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.60 13.10 12.70 13.20 12.75 13.25 13.30 13.55 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.40 12.90 12.50 13.00 12.65 13.15 13.25 13.50 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

UBPL 12.70 13.20 12.70 13.20 12.75 13.25 13.40 13.65 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.64 13.14 12.72 13.22 12.78 13.28 13.34 13.59 13.51 13.76 13.64 14.14 13.76 14.26 13.86 14.36

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/03/2011

Period AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD USD/CAD USD/CHF

1 week -0.67 0.89 -0.81 -0.59 0.88 0.42 0.82 0.811 month -0.04 0.17 -0.38 0.11 0.53 -0.54 -0.32 0.073 months 0.11 0.73 0.18 0.86 0.86 0.04 -0.40 -0.226 months 0.29 0.69 0.65 0.86 0.76 0.30 -0.13 -0.251 year -0.10 0.79 0.77 0.37 -0.19 -0.24 -0.21 0.302 years -0.52 0.94 0.67 0.70 0.36 -0.46 0.52 0.36

Currencies CorrelationEUR/JPY

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.80 12.75 12.80 12.90 12.85 12.85 12.83

8-15dys 12.85 12.85 12.88 12.90 12.90 12.90 12.88

16-30dys 12.95 12.95 12.90 13.00 12.98 12.95 12.96

31-60dys 13.12 13.10 13.12 13.25 13.15 13.15 13.15

61-90dys 13.35 13.32 13.36 13.38 13.35 13.36 13.35

91-120dys 13.48 13.45 13.48 13.50 13.48 13.45 13.47

121-180dys 13.60 13.62 13.60 13.64 13.60 13.61 13.61

181-270dys 13.68 13.67 13.68 13.68 13.68 13.65 13.67

271-365dys 13.78 13.78 13.79 13.80 13.78 13.75 13.78

2-- years 14.10 14.10 14.05 14.05 14.05 14.05 14.07

3-- years 14.17 14.17 14.18 14.17 14.18 14.17 14.17

4-- years 14.19 14.22 14.20 14.19 14.22 14.19 14.20

5-- years 14.22 14.22 14.21 14.22 14.20 14.19 14.21

6-- years 14.23 14.26 14.25 14.23 14.30 14.25 14.25

7-- years 14.26 14.30 14.29 14.25 14.35 14.30 14.29

8-- years 14.25 14.25 14.22 14.23 14.23 14.22 14.23

9-- years 14.22 14.17 14.15 14.22 14.20 14.18 14.19

10--years 14.23 14.21 14.20 14.18 14.22 14.18 14.20

15--years 14.50 14.60 14.60 14.55 14.60 14.50 14.56

20--years 14.77 14.70 14.75 14.90 14.75 14.75 14.77

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for March 01, 2011

NEW YORK: The US dollar fell to a3-1/2-month low against major curren-cies on Tuesday and could fall furtherafter Federal Reserve chief BenBernanke offered no hint that the UScentral bank was considering windingdown its loose monetary policy.

After briefly dipping below $1.38, theeuro rebounded and remained on trackto test key resistance around $1.3862,the yearly high. Analysts expect theeuro to stay supported ahead ofThursday's European Central Bank pol-icy meeting, at which the ECB may sig-nal a willingness to hike rates.

In testimony before Congress,Bernanke said downside risks to growthhad diminished and said for the firsttime that the risk of deflation was now"negligible." But he said that jobgrowth remains far too anemic and pro-

vided no clue whether the Fed was con-sidering cutting short its $600 billionbond-buying program designed to stim-ulate the econo-my.

"There isnothing thatBernanke hassaid that isgoing to changethe market'sview that theFed is going to be a laggard in the tight-ening cycle relative to most G10 centralbanks," said Alan Ruskin, global headof Group of 10 foreign exchange strate-gy at Deutsche Bank in New York.

The dollar index, which tracks thegreenback's performance against a bas-ket of major currencies, fell to 76.735,its weakest level since early November.

The euro last rose 0.1 per cent to$1.3817, near a one-month high of$1.3857 hit on trading platform EBS on

Monday. The euro fell as low as$1.3795 after Bernanke's comments,before recovering.

The dollar rose 0.1 per cent to 81.86yen, with traders citing earlier heavybuying of dollar/yen by Japaneseexporters. The euro rose 0.2 per cent to113.10 yen. Against the Swiss franc, thedollar was flat at 0.9280 and the euro

rose 0.1 per cent to 1.2827.Traders said uncertainties in the

Middle East and North Africa remainedhigh, and if tensions escalate, investorscould again buy the Swiss franc andyen, the two currencies that have tend-ed to benefit the most when risk aver-sion rises.

Sterling rallied to a 13-month highagainst the dollar of $1.6330, afterstronger-than-expected UK housing datastoked expectations the Bank of Englandwill raise interest rates before the Fed.The Canadian dollar fell against the UScurrency after the Bank of Canada keptits main interest rate at 1 per cent andgave no signal it plans to push the rateup soon. The greenback last traded up0.3 per cent against the loonie atC$0.9737, after earlier falling to a three-year low of C$0.9684. -Reuters

US dollar falls on rate viewafter Bernanke comments

SHANGHAI: The yuan closedup and approached a recordhigh versus the dollar onTuesday after a pair of surveysshowed a rise in factories' inputcosts, highlighting the risks ofhigher inflation down the line.

Higher input prices in boththe official purchasing man-agers' index (PMI) and HSBC'sChina PMI could apparentlyadd weight to the government'sdetermination to use its curren-cy to help fight surging prices,traders said.

In the latest signal of suchdetermination, the People'sBank of China fixed its dailymid-point stronger on Tuesdayand just one pip shy of the fix-ing's record high.

The central bank has alreadybeen using its reference rate toguide the yuan to a slew ofrecord highs this year andtraders believe it is poised to letthe currency hit more recordsat least in the near term to helpfight imported inflation.

"Evidence is mounting forfaster yuan appreciation thisyear, although past experiencesare preventing some investorsfrom betting a steeper-than-expected yuan rise in offshoreforwards markets," said a trad-er at a European bank inShanghai.

Benchmark one-yeardollar/yuan non-deliverableforwards (NDF) were bid at6.4010 late on Tuesday, downfrom 6.4110 at Monday's close.Their implied yuan apprecia-tion in a year's time rose to2.64 per cent from 2.49 percent. They have now nearedtheir record low of 6.3840 hiton Oct. 18 when they implied12-month yuan appreciation of4.23 per cent.

For the past couple ofmonths, NDF-implied yuanappreciation has persistentlylagged market expectations ofa 5 to 6 per cent rise in 2011partly because hedge funds, themain players in forwards, cutback exposure to Asian mar-kets in favour of dollar assetsas the US economy recovers,traders said.

Spot yuan closed at 6.5703 tothe dollar from Monday's closeof 6.5716 and has risen 3.89per cent since its depeggingfrom the dollar in June 2010. Itis now within arm's reach of itsrecord trading high of 6.5654hit on Feb. 21.

Before trading began, thePBOC fixed the yuan's mid-point at 6.5706 versus the dol-lar, only one pip from the fix-ing's record high of 6.5705 alsohit on Feb. 21. -Reuters

Yuan up on freshsigns of inflation

LONDON: Sterling rallied to a13-month high against the dollaron Tuesday after stronger-than-expected UK economic data sup-ported speculation that UK inter-est rates will rise well before USrates.

Comments from Bank ofEngland policymakers that infla-tion will remain high this yearhad only a slight impact on thecurrency although it did keep

speculation of a UK rate hike bymid-year intact.

A surprise jump in UK houseprices helped to push the poundto $1.6330 in early London trade,its strongest since January 2010,while a slightly stronger-than-expected reading of UK manu-facturing helped keep the poundnear the key $1.63 level.

The UK purchasing managers'index slipped to 61.5 in Februaryfrom 62.0 in January, but thereading was higher than forecastsof 61.0. Other data showed UKmortgage approvals picked up atthe start of the year.

Markets are largely pricing in a25 basis point rate rise by June,

and analysts said such expecta-tions would continue to push thepound higher.

By 1508 GMT, the pound wasup 0.1 per cent on the day at$1.6275. Earlier in the day,traders said the pound waspushed higher by dollar sellingby model accounts, which usecomputer-generated trading rec-ommendations, before paringgains. The euro was flat at 84.85

pence, recovering from an earlierslide as traders said demand forthe single currency fromEuropean reserve managershelped to bolster it.

That pulled sterling away fromits peak versus the dollar, theysaid. In testimony to a government committee, BoE GovernorMervyn King reiterated his viewthat inflation would remain abovethe central bank's 2.0 per cent tar-get this year while the economyekes out a modest recovery.

He added that he saw few signsthat price pressures are becomingentrenched, suggesting that thecentral bank is not in a hurry toraise rates yet. -Reuters

Sterling gains ondata, BoE comments

SINGAPORE: TheIndonesian rupiah gave upmost of its early gains againstthe dollar on Tuesday afterlower-than-expected inflationtriggered some profit takingthat could extend until the cen-tral bank's policy meeting onFriday.

Food prices in Indonesia fellfor the first time in four yearsin February, easing pressure onthe central bank to raise its keyovernight benchmark interestrate on Friday and giving coverfor traders who were eager to

cash in. The rupiah enjoyed the

biggest monthly gains lastmonth since Sept. 2009 after asurprise rate hike.

"I do think there's a goodchance for some profit takingin IDR, especially if they dostay put on Friday," saidDariusz Kowalczyk, senioreconomist and strategist atCredit Agricole CIB in HongKong.

Dollar/rupiah might rise to arange of 8,850-8,875 if BankIndonesia stays on hold, a

Jakarta-based US bank dealersaid.

Some analysts said investorsbecame cautious over possibledollar-buying intervention bythe central bank after it wasspotted buying $50 million onMonday.

Dollar/peso fell as local play-ers built up short positions on asofter dollar.

"It looks like people arebuilding fresh shorts, lookingat 43.40-43.45 target today,"said a European bank dealer inManila. -Reuters

Asian currencies

Rupiah cuts gains after CPI;may see more profit-taking

SYDNEY/WELLINGTON: The Australiandollar lost some steam on Tuesday after theReserve Bank of Australia (RBA) disappointedsome bulls by sounding content with currentrates, while the kiwi paused to end three days ofmodest gains.

The Australian dollar edged back to around$1.0156, after touching a two-month high of$1.0203, when the RBA left rates at 4.75 percent as expected and said inflation was likely tostay contained for the rest of the year.

The Aussie had firmed earlier after datashowed retail sales rose 0.4 per cent in January,defying fears that flooding in the state ofQueensland earlier in the year would have a big-ger dent on spending.

Overall, retail sales remained sluggish butsuch an outcome is welcomed by the RBA asrestrained consumer spending makes room forthe ongoing commodities boom without addingpressure to inflation.

Markets see no chance of a hike in April andimply a total tightening of 32 basis points for thenext 12 months. The RBA also noted terms oftrade are at their highest level since the early

1950s and fuelling large mining investment. Other data released on Tuesday included a slight-

ly higher than expected current account deficit ofA$7.3 bln for last quarter. Net exports failed tomake any contribution to GDP growth. On theother hand, government spending was firmer thanmany had expected and should add to growth.

In contrast, a New Zealand economic researchgroup predicted last week's powerful quake inChristchurch could slash the country's economicgrowth to almost nothing in 2011.

Markets are now fully priced for a 25 basis-point cut at the next Reserve Bank of NewZealand rate review on March 10, and no rise atall over the next 12 months.

All this helped the Aussie climbed to a 9-weekhigh of around NZ$1.3565, not far from theNZ$1.3640 peak struck in September 2000. Ithas risen by more than three per cent against thekiwi so far this year on diverging outlooks forinterest rates. It last traded at aroundNZ$1.3500. The New Zealand dollar was stuckin a familiar range just above $0.75, after losing1.5 per cent last week in the wake of the earth-quake. -Reuters

Aussie dollar dips as RBAsounds relaxed; NZ$ pauses

Swiss francweakens

ZURICH: The Swiss francweakened on Tuesday as glob-al risk appetite returned amidrallying markets and despitestronger-than-expected Swissgrowth data.

Unrest in the Middle Eastand North Africa had pushedthe safe-haven franc to all-timepeak against the dollar of0.9230 on Feb. 24 and it hadbeen moving back towards ahistoric high against the euroof 1.2400 hit in late December.

Credit Agricole strategistssaid the franc's recent strengthwas beginning to tire and rec-ommended selling the Swissieinto strength prompted by theSwiss growth data.

The franc was 0.2 per centdown against the euro com-pared to the New York close,trading at 1.2836 per euro at0752 GMT. The franc was 0.2per cent lower against the dol-lar at 0.9303 per dollar, offThursday's all-time high of0.9230.

The franc ticked up after datashowed the Swiss economyunexpectedly gained freshmomentum in the final quarterof 2010 as goods exportsdefied the record-high franc.

The economy grew by 0.9per cent in the fourth quarterfrom the previous quarter,beating average economistforecasts for an increase of 0.5per cent. -Reuters

Investors build short dollar/peso positions

Bernanke offers no hint about monetary policy outlook

Disclaimer:All reports and recommendations have been prepared for your information

only. Summary and Analysis are not recommendation to buy or sell. This

information should only be used by investors who are aware of the risk inher-

ent in securities trading. The facts, information, data, indicators and charts

presented have been obtained from sources believed to be reliable, but their

accuracy and completeness cannot be guaranteed. The Financial Daily

International and its employees are not responsible for any loss arising from

use of these reports and recommendations.

The EbbingAffordabilityPurchasing power of masses is eroding fast

as price of every thing is going up, partly

because of cost pushed inflation but mostly

due to the failure of government in checking

prices of every day consumption item. While

the government has failed in correlating

wages with the inflation, employers often

find them incapable of raising remuneration

to commensurate with the rising inflation in

the country.

To begin with, the experts object on the

ways of determining rate of inflation in the

country and the crudest measure they insist

to use is what a rupee could purchase now in

comparison with what it could purchase a

year ago. The common parameters used by

public are prices of gold, POL products,

electricity and gas tariffs, but most common

denominator is price of 'roti' (bread).

However, it is no longer relevant because

with rise in flour price the weight of bread is

constantly on the decline.

Another common indicator used by the

households is prices of meat, beef and chick-

en. To begin the quality is on the decline but

prices are on the rise. The retailers provide

all sorts of rationalizations for the hike in

price but the worst element has been 'bhat-

takhori' at almost every level. Slaughter

houses, previously operating under govern-

ment control now run under 'thekadari' sys-

tem. Poultry farms have to pay 'bhatta' to

police as well as the political parties. Added

to this is the 'parchi' system in force in every

market where the shop keepers have to pay

contribution to political party funds.

Weekly bazaars were introduced to ensure

cheap availability of daily consumption

items but gone are the days. Different types

of mafias control these bazaars and protec-

tion is provided for selling stale products. It

is also on record that some of the bazaars are

operating without any government permis-

sion. On books price committees also exist

and also take the fees but never bother to see

at what prices products, particularly vegeta-

bles and fruits are being sold. Though, there

are complaint centers where one could lodge

complaint against overcharging or selling

inferior quality products at the price of pre-

mium quality products but no action is ever

taken against the culprits.

There are regular increases in the price of

loose milk and yoghurt but the worst has

been adulteration. Various chemicals are

added to make the milk thicker but authori-

ties responsible for checking quality visit the

shops only to collect the 'bhatta'. It may be

true to say that adulterators are killing more

people than the terrorists. There are laws as

well as Consumer Associations in the coun-

try but they are just the platforms for person-

al projections.


Publisher & Editor-in-Chief: Amir A. Ashary

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat SabirHead office

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The Financial Daily InternationalVol 4, Issue 196

Egypt's military rulerswant elections in sixmonths' time but politi-

cal activists who ousted HosniMubarak fear remnants of hisadministration and the tightdeadline for polls pose threatsto an incomplete revolution.

While Mubarak's fall frompower shows how much haschanged since protesters firsttook to the streets a month ago,the apparatus of the statewhich served him for threedecades remains largely intact.

Egypt is still ruled by peoplehe appointed in a system ofgovernment that the opposi-tion says needs a completeoverhaul.

The military council towhich Mubarak handed poweron Feb. 11 is committed tooverseeing democratic elec-tions and appears eager to giveup its role in government to acivil authority.

But it also seems hesitant todo much more than that on thereform front, wanting to leavefurther changes to the govern-ment that emerges in the com-ing months. The tighttimetable for elections is asource of concern for manyplanning to run.

"There is legitimate fear forthe revolution stemming fromthose seeking to ambush it andthose who have an interest inits failure," wrote AmrHamzawy, research director atthe Beirut-based CarnegieMiddle East Center.

Publishing in Shorouk news-paper, Hamzawy described athreat from "those gatheredaround the previous presidentin Sharm el-Sheikh or thoseembroiled in the authoritarian,corrupt system which he estab-lished for the past decades".

The military's steps towardselections have been welcomedby the opposition. But therapid course it has charted onthat path is causing concernfor Egyptians who say moretime is needed for political lifeto recover from decades ofoppression.

Quick elections suit politi-cians associated withMubarak's NationalDemocratic Party who sur-vived a corruption crackdownthat is targeting high-profilefigures from his era.

They are already mobilisingfor the legislative electionswhich the military has said ithopes to hold within six

months.The deeply-rooted Muslim

Brotherhood is the only othergroup whose interests are suit-ed by a quick vote. An experi-enced Islamist group, it couldbe ready for elections inweeks, though it will not seeka majority or run for the presi-dency."THIS CANNOT HAPPEN

IN SIX MONTHS""I have a lot of reservations

about Egypt's interim period:moving from a dictatorial to afree, independent nation," saidMohamed ElBaradei, a leadingfigure in the Egyptian opposi-tion movement that coalescedto topple Mubarak.

Egyptians need time to formpolitical parties and to com-municate with the people, hetold Al Arabiya television."This cannot happen in sixmonths."

"Others say the six-monthtime frame is fair because it isequally short for everyone."

His remarks echoed theviews of others, including thenewly-established WasatParty, which have called for ayear or more of interim gov-ernment before elections.

Unlike 1952, when Egypt

went through a revolution ledby the army, the militaryappears to have no appetite tostay in power, diplomats inCairo say. It would like toreturn to its old role in defencewhile guarding economic priv-ileges built up over the yearsand seems uneasy in govern-ment.

That is why it is movingquickly with the reforms need-ed for elections. Reaching outto the public through mediaincluding a page on Facebook,the military still enjoys broadrespect for its public commit-ment to meeting the aspira-tions of the Egyptians whorose up against Mubarak.

Constitutional reformsdesigned to open up politicshave been unveiled and will beput to a referendum withinweeks.

But the council, headed byMubarak's long-time defenceminister, seems reluctant to domore than the bare minimumon reform, a Western diplomatsaid.

"We think they are lookingto do as little as possible on thedecision front. They knowthey have to deliver constitu-tional amendments and free

and fair elections. That's reallyall they have committed to,"the diplomat said.

That mindset could explainwhy Ahmed Shafiq, appointedprime minister by Mubarak inthe last weeks of his rule, isstill in office. It might alsoexplain why the military hasyet to signal any intention toenact a major reform of thepolice force whose reputationfor brutality helped fuel theuprising.

Shafiq, a former militaryofficer, was the target of aprotest in Tahrir Square lastFriday calling for his removal.

Thousands of protestersurged his resignation during ademonstration that was lesswell attended than those thatbrought down Mubarak butwhich indicated that streetprotest is here to stay as a fea-ture of Egyptian politics.

Hamzawy warned that sinceMubarak stepped down onFeb. 11 the opposition waspassing through "a foggymoment which had stripped itof the strategic initiative".

"I fear it will lead to a stateof confusion in action withvery serious consequences",he wrote.-Reuters

Die Hard Old Guard

Lubna Umar

Much has been said and writ-ten about the utter lawless-ness that prevails in

Pakistan but very little has been seenin terms of addressing the phenome-non in a concrete manner by either thepoliticians or any other organizationfor that matter.

The current media campaign thathas been launched against the corruptpractices of the politicians and lead-ers, despite severe lashing, hasproved futile as the only objective itachieves is to heighten the angst thatis already shrouding the souls of allPakistanis who feel bereft of all hopeand optimism.

Talks about a revolution, theEgyptian style are being circulated anddenounced simultaneously as a nonplausible option due to the various dis-similarities stated between both nationssocio-political landscape, despite themassive appeal and temptation of theproposition. All those that may benefitout of a chaotic situation in case of arevolution are busy counting the bene-fits of it while those threatened are call-ing it a no no situation. Does anyonethink about the collective communalgood? Apparently, not!

Governance, or any other field, forthat matter has become a political gamein Pakistan that allows so much libertyto those at the higher echelons thatmanipulation and maneuvering of thepolitical structure according to person-al needs and gains throws rationalityout of the window to indulge in thisaddictive power play. This leaves verylittle room for the trickle down ofpower to lower ranks or any sort ofpower sharing. It has to be completeunchallenged power for the leaders.

Although, sharing of power may bematerialising, albeit at a slow paceamong the various political parties, butstability through it is a dismal hope thatneeds yet another decade to consolidate

given the immature manner in whichcoalitions are broken every now andthen due to slight difference of opin-ions. This threatens the very institutionit comprises, thus dispelling the notionthat stability, law and order and peacein the country is what the parties cravefor at the socio-political level.

Therefore, we can safely assert thatground realities, despite continuousstruggle on the part of the populationthat had stood in unison forMusharraf's ouster in the vain hope thatdemocracy would be the ultimate solu-tion to all their predicaments, providesno hope for a prosperous time ahead.The absolute subservience of the US bythe ex-military dictator was expected tobe reversed by the formation of a dem-ocratic government that was aimed topropel the nation towards an economicuplift which need not be dependent soheavily upon the US aid money.

The impossible task of reinstating thejudiciary was another colossal achieve-ment of the Pakistani people that alsosignifies a deep rooted need for justice,law and order. Similarly, the Pakistaniarmed forces have been successful indismantling the established terror net-works in the tribal areas, thus bringinga great measure of peace into the livesof the people. Then what is it that isfueling this mayhem where, despite allaccomplishments Pakistan seems to besinking deeper into disorder?

Apparently, the democratic govern-ment had no designs to reverse theMusharraf trends, instead the aiddependent economic structure suitedthe Zardari government as it allowedthem to live in leisure and comfortwithout having to be bothered aboutgovernance issues as those were beingtaken care of by the US.

The matter needs to be delved in a lit-tle deeply where all those need to beexposed that may benefit from a stateof anarchy. Lawlessness in the State isbeing established consciously by vari-ous factions for vested interests. This

includes some segments of civil admin-istration, military, judiciary, religiousand political parties and the media. It isbeing perpetuated extensively throughthe popular media, thus being instru-mental in creating hopelessness anddespair among the masses

Claims to alleviate corruption andother social vices by leaders, politi-cians and individuals are nothing butlip service to blindfold the people. Itwould not be entirely wrong to say thatthe Pakistani State, therefore, hasadopted the "Law of the Jungle" whereit serves only to benefit those on thepower spectrum.

The industrial and agricultural basesof our economy are being given spas-modic blows that has proved detrimen-tal and led to its downward slide.Industry that is primarily our backbonehas been crushed by the severe energycrisis that includes both electricity andgas shortages. Connected inextricablywith it is the livelihood of millions ofpeople that are being deprived of theirlegitimate share as a consequence.

A multitude of industry owners havealready exited the system to try theirluck elsewhere as they are beingoffered citizenship under relaxed ruledto facilitate foreign cash inflow.Agricultural produce on the other handface a similar dilemma as suppliesdwindle to an extent where local needsare not being addressed.

The most reliable and stable source ofrevenue generation for any nation is itstax collection mechanism that encom-passes a huge percentage of the earningmembers of society. According to latestestimates, a total of seventy nine per-cent of those under the category of 'taxpayers' exercise influence to evade suchan application thus causing seriousdamage to the national exchequer.

This can very well be understood inrelation to the fact that a big majorityamong those in the cabinet, classingthemselves as custodians of the people,are defaulters of billions of rupees by

devising various methodologies tobecome hardcore tax evaders.

Outstretched State expenditures haveadded to the miserable condition of thenational reserves as a colossal chunk isbeing subtracted from significant proj-ects and sectors to support the illegiti-mate whims and fancies of the leadersand politicians.

The irony is that this systemic failurehas been so deeply embedded thatmost analysts have claimed that such atrend where corrupt practices are insti-tutionalized and aided by the Statemachinery may never be overcome orreversed by any democratic govern-ment where laws are formulated onlyfor the influential.

This can be exemplified by the pleabargain deal offered by the NationalAccountability Bureau to all the loandefaulters which provides a windowthrough which they can be greatlyfacilitated despite committing such ahorrendous crime. All those that file aplea may be granted relief of payingback only a portion of the money bor-rowed, with the rest to be waived off onthe basis of inability to pay. This servesas an incentive for prospective cheatersto jump in to join the list for grabbingquick bucks.

Shameless and remorseless, thesedefaulters after milking the countryare looked upon as champions.Where, is the prospect of punishmentand ignominy in this entire model ofrecollection of the national wealththat would bring this malpractice to adead halt?

As the political will sees degenera-tion, the society descends into chaoswhere a lack of faith in the leaders hasled people to take everything includingthe dispensation of justice into theirshaky hands. The grotesque episodes ofmob violence and increased criminalactivities complete this chain of law-less disorder that has the potential togrow in a similar manner and pace ifprevalent practices continue.

The Politichaos

With World cup Matches going on, coming events arecasting their shadows well before time. Cricket fansand analysts are adjudging strengths and weaknesses ofteams. Thrilled crowds and their hustle bustle, enthusi-asm of players adding more colour to the big show.While enjoying all this, we have to keep an eye on whatis happening in big matches. In the opening matchesbatsmen dominated but gradually blowers are gainingrhythms. Pakistan has to focus on its bowling. Lessthan 6 bowlers will not suffice as we have comparative-ly less strong bowling attack. Concentrated, wicket towicket bowling without wide and no balls will work forus simultaneously, igniting passion in batsmen to playboldly but sensibly. I feel, its time for selectors torethink for inclusion of Muhammad Yousaf in the team,the master batsman has vast experience and can standup during various odds. His batting can strengthen therather murky top batting and will give some backboneto our batting. Saeed Ajmal may also be brought backas he has unique bowling that may perturb any opposi-tion. It is hoped that someone in PCB will also think inthese terms and make some adjustments in cricket teamwhich is quite agile to win the World Cup. Good luckPakistan.

Iftikhar Shaheen Mirza, Karachi

Playing withsix bowlers &solid batsmen

The wave of democraticrights in population of NorthAfrican autocratic countriesrichly blessed with naturalresources making huge cache ofnational income by importingcrude oil and natural resourcesthroughout the world withstrategic location of for theexport of oil through Suez havecaused concern for the world.The economies are respondingpromptly and adjusting freshpositions in the light of antici-pations and speculations.Economist and inventors withnot much forgotten two to threeyears back recession effects areextremely careful this time andresponding accordingly inassessing markets. Althoughmuch of oil stakes are stilllocated in countries other thanthose affected now a days,investors concern for peacefulenvironment and stabilityaround the globe remains primefactor.

With the anticipation of oiltransportation charges for morethan 4000 kilometers if Suezcanal is closed, crude sparked

up in last few days shaking theeconomy of countries withdeveloping and frontier mar-kets. Much of those are findingplace in gold as safe heaven incrisis and gold future is tradingabove 1410 $ in internationalmarket and considered stillbullish expected to see all timehigh. Commodity prices ininternational market are alsowitnessing up trend making itdifficult for consumers andsellers to engage in trade trans-action comfortably. This isexpected to hurt the economicalfigures of many countries.

Forex markets with no excep-tion are also unpredictable withinvestors feeling confidence inmajor currencies particularlydollar and euro with sellingseen in currencies of unstablecountries in parity in last somesessions.

Stock markets of NorthAfrican countries are adverselyaffected as expected and find-ing no support. Regional stockmarkets such as India,Bangladesh and Sri Lanka arealso passing though correction

phase with investor loosingmuch hopes in very short terms.US and European stock marketshave also underperformed inlast one month despite goodearnings and ongoing resultsessions.

Our market 100 index hasalso lost more than 1200 pointsin no time although some of theeffects are the result of internalpolitical situation, poor eco-nomical outlook and loosing ofsustainable relationship withUSA owing to Raymond Davisissue.

Looking all in critical mannerreveals situation somewhatsimilar we passed through inyear 2008 when graduallyeconomies were crashing andlater a recession was seen alover the globe. Right nowthings have not turned to worsebut indicators are there that itmay yield another recessionwhich will be far quicker repe-tition of sinking economy andbringing worst in employmentand production sectors and inexploration of opportunities.

Fahim Akhtar, Karachi

Another recession on way?

FERTILISER000 tonnesUrea Offtake (Jan to Dec 10) 6,123Urea Offtake (Dec 10) 626Urea Price (Rs/50 kg) 1,020DAP Offtake (Jan to Dec 09) 1,317DAP Offtake (Dec 10) 90DAP Price (Rs/50 kg) 3,143

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Jan 11) 47,153

Sales (July 10 to Jan 11) 45,113

Production (Jan 11) 6,698

Sales (Jan 11) 6,793

INDUS MOTOR COProduction (July 10 to Jan 11) 29,078




HONDA ATLAS CARProduction (July 10 to Jan 11) 9,279




DEWAN FAROOQ MOTORSProduction (July 10 to Jan 11) 186

Sales (July 10 to Jan 11) 113

Production (Jan 11) 0

Sales (Jan 11) 23

BANKING SECTORScheduled bank (Rs in mn)Deposit (Feburay 4,11) 5,046,861

Advances (Feburay 4,11) 3,140,675

Investments (Feburay 4,11) 2,100,015

Spread (Feburay 4,11) 7.61%

OIL MARKETING CO(000 tons)MS (Jul 10 to Dec 10) 1,122

MS (Dec 10) 188

Kerosene (Jul 10 to Dec 10) 81

Kerosene (Dec 10) 15

JP (Jul 10 to Dec 10) 727

JP (Dec 10) 138

HSD (Jul 10 to Dec 10) 3,426

HSD (Dec 10) 634

LDO (Jul 10 to Dec 10)) 32

LDO (Dec 10) 6

Fuel Oil (Jul 10 to Dec 10) 4,331

Fuel Oil (Dec 10) 690

Others (Jul 10 to Dec 10) 6

Others (Dec 10) 2

PRICES (Ex-Refinery) RsMS (1 Feb 11) 51.74

MS (1 Jan 11) 49.41

MS % Chg 4.72%

Kerosene (1 Feb 11) 58.28

Kerosene (1 Jan 11) 55.01

Kerosene % Chg 5.94%

JP-1 (1 Feb 11) 58.51

JP-1 (1 Jan 11) 55.24

JP-1 % Chg 5.92%

HSD (1 Feb 11) 61.80

HSD (1 Jan 11) 58.55

HSD % Chg 5.55%

LDO (1 Feb 11) 55.32

LDO (1 Jan 11) 53.46

LDO % Chg 3.48%

Fuel Oil (1 Feb 11) 47,931

Fuel Oil (1 Jan 11) 45,947

Sector Updates

Symbol Close Vol (mn)LOTPTA 15.53 27.00 NBP 71.59 14.06 BOP 7.44 9.26 NCL 24.47 7.49 HUBC 38.60 6.80

Symbol Close ChangeULEVER 4,682.12 23.92

BATA 551.65 23.23

SIEM 983.16 20.08

APL 355.22 15.20

POL 306.29 13.91

Symbol Close ChangeUPFL 1,257.48 -66.18NESTLE 3,400.24 -55.26RMPL 2,507.35 -37.86SITC 95.55 -5.02ISIL 83.22 -4.16

Plus 220Minus 68Unchanged 93

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Wednesday, March 2, 2011 5

Dhiyan

The bullish activities in the market are anticipated to pushahead during the remaining days of the week and index cangain 200 points more from the recent development regardingMargin Trading System (MTS) and good corporate resultannouncements by banks. However we might see some correc-tion at 11,800 levels. Investors should be cautious and invest inthose stocks which have announced good payouts like in fer-tiliser and banking sectors. Market would be positive today.

Muzzammil Khan, AVP BMA Capital

Faisal Shaji, Head of Research Standard CapitalLast session's bull-run has more or less revived the sentiments. Positive

activities may go on in days to come where index can touch 12,500 points ascorporate earnings are expected to grow by 15 per cent. Contrary to others, Ithink Davis issue and current political situation would not hurt the market.Following the Libya crisis, the international oil prices would stay higherwhich may spur a small rally in oils. Investors better lay hands on oil & gasexploration, chemical, and strong power stocks. Key interest rate which islikely to stay unchanged would be the trigger. It would be positive today.

OPTIMISM

Opening 11,289.23

Closing 11,608.43

Change 319.20

% Change 2.83

Turnover (mn) 153.04

Opening 3,364.16

Closing 3,498.49

Change 134.33

% Change 3.99

Turnover (mn) 8.09

Opening 2,687.14

Closing 2,772.55

Change 85.41

% Change 3.18

Turnover (mn) 0.05

Nawaz Ali

KARACHI: With the finalMargin Trading System (MTS)launch date made known andmouthwatering NBP payoutsKarachi Stock Exchange onTuesday reclaimed a good dealof weight it lost recently.

The benchmark KSE 100-Index jumped by 319 points -2.83 per cent-- to close at11,608 points while KSE 30-Index increased by 370 points --3.38 per cent to close at11,310 points, and KSE All-Share rose by 214 points --2.72per cent--- to close at 8,069points.

Ahsan Mehanti, Director atArif Habib Investments saidthat buying across the boardstarted after Finance Minister

consented to visit KSE tolaunch Margin TradingSystem.

Session started with bulls atthe trading floor and index with33 plus points. Positive activi-ties sustained throughout theday as investors took positionsalmost across the board overrecovery in regional stock mar-kets and on widespread word ofmouth that much awaited lever-age product would come online by March 7.

Thenceforward it was offi-cially announced that theFederal Minister for Financeand Economic Affairs DrAbdul Hafeez Sheikh wouldvisit the exchange on Mar 5 toattend the launching ceremonyof Margin Trading System(MTS). Further, better than

expected corporate resultannouncement by NationalBank with good payouts andrise in local petroleum pricesintensified the bullish activitiesand the index before closingtouched an intraday high t11,625 points (+ve 336) andfinally called it a day there.

"Higher than expected pay-out of National Bank triggeredbuying across the board", saidSamar Iqbal, equity dealer atTopline Securities.

National Bank of Pakistanannounced a profit after tax ofRs17.56 billion for the yearended Dec 31, 2010 (EPS:Rs13.05). The company alsoannounced a cash dividend ofRs7.5 per share and 25 per centbonus issue.

Though market saw a sump-

tuous bull-run but offshoreinvestors on Tuesday werewearing their get-rid-of-it hatas according to NCCPL theynet-sold stocks worth $3.83million.

Volumes also remained sig-nificantly higher as 153 millionshares traded in the day being66.8 million more than aturnover of 86.2 million shareson Monday.

Lotte Pakistan stood as thevolume leader with 27 millionshares followed by NationalBank with 14.06 million andBank of Punjab with 9.26 mil-lion shares.

As far as actives are con-cerned they were about 381 ofwhich 220 gained someweight, 68 lost, and 93 main-tained it.

KSE Observes Gain Day Finance Minister to launch MTS on Saturday at KSE

HONG KONG: Shanghaishares rose on Tuesday inactive trade, lifting the HongKong market, and lookedpoised for further gains thanksto subsiding inflation fears,attractive valuations and benignchart patterns.

The Shanghai Composite,Asia's best performing bench-mark in February, extended itsrun and rose 0.5 per cent, help-ing lift Hong Kong-listedChinese shares. The index oftop Chinese firms trading there

rose 0.9 per cent, outperform-ing the broader Hang Sengwhich was hobbled by a slumpin HSBC.

While a pair of purchasingmanagers' surveys showedChinese manufacturing grew atits slowest in at least half a yearlast month, investors saw thatas an encouraging sign thatBeijing's campaign to preventthe economy from overheatingwas bringing results, reducingthe risk of aggressive tighten-ing ahead.

And with earnings seasonunder way, investors are focus-ing on valuations, which lookattractive especially given thatanalysts are yet to make signif-icant revisions to annual fore-casts.

According to ThomsonReuters data, the H-share indexin Hong Kong was trading at amultiple of about 9.4 times itsforecast 12-month forwardearnings - its lowest in twoyears.

See # 17 Page 11

China, HK mkts rise,poised for more gains

TOKYO: Japan's Nikkei aver-age clawed back towards 10-month highs to add 1.2 per centon Tuesday as foreign investorspiled into Japanese stocks on alower inflation risk, with morehard-won gains seen in themedium term.

Despite uncertainty abouthigher oil prices and develop-ments in the Middle East, for-eign investors may chase theNikkei higher, although gainswill likely be limited by win-dow-dressing by domesticinstitutional investors for thefinancial year-end on March31, market players said.

While the Nikkei's fall ofalmost 3 per cent last weekstirred speculation that it mightenter a short-term downtrend,bulls bought on dips as the fac-tors that had fuelled a rally ofabout 17 per cent sinceNovember -- excess liquidity,stronger corporate earnings andhopes for further recovery inthe US economy -- remainlargely intact.

"US and European investorshave been the main players inthe Japanese market. But Asianinvestors have joined in asJapan is one of the few coun-tries with a low risk of rate

hikes," said Shun Maruyama,chief strategist at Credit Suisse.

"They are buying Japanesestocks on a process of elimina-tion as Japan has more toler-ance for higher oil prices thanother Asian countries."

The benchmark Nikkei endedthe day up 129.94 points at10,754.03. The broader Topixadvanced 1.3 per cent to 963.7.The Nikkei's support nowlooms at its 25-day movingaverage of 10,580.81 and thetarget is seen around this year'sclosing high of 10,857.53 hit onFeb. 21, investors said.

Data released on Tuesdayshowed Chinese manufacturinggrowth slowed in February to asix-month low as the govern-ment's sustained campaign totame inflation weighed onindustrial activity.

But soaring global commodi-ty costs complicated the task ofmonetary tightening, pushing agauge of industrial input pricesto a three-month high inChina's official purchasingmanagers' index.

Although such commodity-fuelled inflation is normallyseen as bad, since it reflects ris-ing input costs, it can be seen as

See # 15 Page 11

Japan low inflationrisk helps Nikkei

MUMBAI: The BSE Sensexclimbed 3.5 per cent onTuesday, its biggest single-dayrise in 21 months, as investorsbet a strong growth outlook forAsia's third-largest economyand measures proposed in thebudget would attract foreigninflows.

Financial stocks led gains asworries of higher interest rateseased after a lower-than-expected government borrow-ing plan, while automobilestocks rose as sales at topautomakers continued to gainground.

"There were several positivesignals in the budget in terms ofeconomic growth, tacklinginflation and opening up to for-eign investors," said said K.K.Mital, head of portfolio man-agement services at GlobeCapital.

"The mood of investorsseems to have changed and weare seeing a pullback in sectorsthat were beaten down in thepast few weeks."

The manufacturing sector

expanded at its fastest clip inthree months in February asmore new orders poured in, butinput prices rose at a recordpace, a survey released onTuesday showed.

Finance Minister PranabMukherjee said on Monday heexpected inflation would easeand India's economy wouldgrow around 9 per cent in fiscal2011/12 beginning April, upfrom an 8.6 per cent growthexpected in the current fiscalyear.

On Tuesday, the 30-shareBSE index closed up 623.10points at 18,446.50 points, withall of its components advanc-ing.

The benchmark is down 10per cent so far this year, withforeign funds pulling out $2.2billion following a spate ofpolitical corruption scandals,and high inflation and risingborrowing costs denting thepace of growth.

The economy grew a slower-than-expected 8.2 per cent

See # 12 Page 11

India shares up3.5pc on budget

Staff Reporter

KARACHI: Sui Southern GasCompany (SSGC) hasannounced a profit after tax ofRs2,113 million (EPS: Rs2.52)for the half year ended 31stDecember 2010, compared toPAT of Rs219 million (EPS:Rs0.33) in the correspondingperiod last year, an increase ofRs1,894 million.

Despite increase in the num-ber of gas producing fields, thesupply of gas availabledecreased by 6.4 per cent to202.7 BCF. However, the com-pany was successful in main-taining steady supplies to itscustomer base and gas had beenallocated to power sector,industries and CNG stations inthe best national interest.

Due to supply side con-straints gas sales decreased by8 per cent. The average salesprice per MMBTU increasedby 15 per cent to Rs329.10 ver-sus Rs286.70 during same peri-

od last year, due to increase intariff by Ogra.

Management treated the out-standing amount from KESC aspart of the inter-corporate circu-lar debt. The Board had advisedthe management to more active-ly take up the matter with feder-al and provincial governmentsfor resolution of KESC duesand inter-corporate circulardebt. As a result of proactivenegotiations with KESC, sinceNovember 2010, the latter hasbeen paying an amount equiva-lent to its monthly bill on thedue dates. An agreement is alsobeing finalised between KESCand SSGC.

Meter manufacturing plantproduced 348,650 units versus326,250 produced in the sameperiod last year, i.e. an increaseof 22,400 meters or nearly 7 percent. The plant's profitincreased to Rs113 million ascompared to Rs103 millionsame period last year.

See # 13 Page 11

SSGC postsRs2.1bn PAT

US stocks mid-day

Wall St fallsas oil fuels

recoveryworries

NEW YORK: US stocksdropped on Tuesday asinvestors worried that rising oilprices could choke off the eco-nomic recovery, with equitieslooking to keep taking theirlead from oil prices in the nearterm.

US Federal ReserveChairman Ben Bernanke saidthe recent surge in oil priceswas unlikely to derail the econ-omy, but his comments did lit-tle to reassure investors wor-ried that turmoil in the MiddleEast could hit Saudi Arabia,the world's largest oil exporter."All eyes continue to be on tur-moil in the Middle East," saidMichael Sheldon, chief marketstrategist at RDM Financial inWestport, Connecticut. "Themillion-dollar questionremains what happens to SaudiArabia."

The Dow Jones industrialaverage dropped 76.25 points,or 0.62 per cent, to 12,150.09.The Standard & Poor's 500Index fell 10.56 points, or 0.80per cent, to 1,316.66. TheNasdaq Composite Index lost26.54 points, or 0.95 per cent,to 2,755.73.

The US manufacturing sectorgrew in February at its fastestrate since May 2004 in anothersign the world's largest econo-my continued to recover, help-ing put a floor under stockprices.

There were signs of a defen-sive stance in the market ascyclical sectors experienced thebiggest losses, while defensivesectors such as utilities, health-care and consumer staples --which do better in times ofuncertainty -- gained.

The S&P's consumer staplesindex rose 0.12 per cent,while materials was off 1.3per cent and financials fell 1.2per cent.

See # 18 Page 11

FTSE fallson new

ME concernsLONDON: Britain's leadingshare index fell 1 per cent onTuesday on concerns that polit-ical unrest could spread to topoil exporter Saudi Arabia,pushing crude prices higherand sending oil-sensitive travelfirms lower.

Brent crude rose 1.8 per centto above $113 a barrel on areport, promptly denied, ofSaudi involvement to try andquell protests in Bahrain.Nevertheless, the report in anEgyptian newspaper rattledinvestors.

Travel-related stocks bore thebrunt. Cruise operator Carnivalshed 6 per cent in heavy trade,InterContinental Hotels lost 4per cent, and InternationalAirlines Group slipped 0.8 percent after trading as much as 3per cent higher earlier.

"Libya is a sideshow; it's notas big a show as a week ago.Saudi Arabia is a big concern,"said Jawaid Afsar, trader atSecurequity. "The slightest ofrumours will make this marketroll over very quickly."

Revolt in Libya has cut asmuch as half of the Opec mem-ber's output, though SaudiArabia has stepped in andplugged the supply gap. Theworst-case scenario for oil mar-kets would be an interruption to

See # 14 Page 11

Singapore leads regional gains

South East Asian stocks

European stocks end loweron Middle-East jitters

ANNOUNCEMENTS

Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)

NIB Bank Yearly 154.79%(R) -10,112.11 -2.50

National Bank Yearly 75%(D),25%(B) 17,563.21 13.05

National Bank (Consolidated) Yearly - 17,738.41 13.24

Azgard Nine Yearly - -1,395.27 -3.13

Azgard Nine (Consolidated) Yearly - -757.73 -2.17

NIB Bank Yearly - -9,706.76 -2.40

Samba Bank Yearly - -119.59 -0.10

Summit Bank Ltd Yearly - -3,018.37 -4.16

Summit Bank Ltd Yearly - -322.70 -0.65

Summit Bank Ltd Yearly - -3,032.14 -4.18

Agritech Limited Half Yearly - 196.72 0.50

Agritech Limited (Consolidated)Half Yearly - 265.93 0.68

Apollo TextileXD Half Yearly - -38.80 -4.68

Azam Textile Half Yearly - 41.14 3.10

Bal.Glass Half Yearly - -204.02 -

Bannu WoollenXD Half Yearly - 134.37 17.67

Bestway Cem Half Yearly - -477.05 -1.46

Climax Eng. Half Yearly - -12.59 -3.80

Flying Cement Half Yearly - -65.12 -0.37

Gammon Pak Half Yearly - -2.63 -0.09

Gulistan Sp. Half Yearly - 176.48 12.05

Gulistan Textile Half Yearly - 331.10 17.44

Hala Enterpries Half Yearly - -16.01 -4.24

I.C.C.Textile Half Yearly - -72.87 -7.29

Ishtiaq Textile Half Yearly - 15.18 3.57

Janana D Mal Half Yearly - 99.68 23.15

See # 16 Page 11

Wednesday, March 2, 20116

Volume 153,038,125

Value 7,067,998,869

Trades 81,419

Advanced 220

Decline 68

Unchanged 93

Total 381

Current 8,069.24

High 8,082.36

Low 7,855.24

Change h214.00

Current 11,608.43

High 11,625.96

Low 11,289.23

Change h319.20

Current 11,310.68

High 11,327.56

Low 10,940.68

Change h370.00

Market KSE 100 Index All Share Index KSE 30 Index

Current 19,227.57

High 19,255.08

Low 18,671.73

Change h555.84

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Gulshan Spinning Mills Limited

GSPM closed up 1.00 at 9.14. Volume was 2,648 per cent above aver-

age (trending) and Bollinger Bands were 7 per cent narrower than nor-

mal. The company's profit after taxation stood at Rs38.223 million

which translates into an Earning Per Share of Rs2.06 for the 1st quar-

ter of current fiscal year (1QFY11).

GSPM is currently 22.7 per cent above its 200-day moving average and

is displaying an upward trend. Volatility is extremely high when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect very strong flows of volume into GSPM (bullish). Trend

forecasting oscillators are currently bullish on GSPM.

RSI (14-day) 63.20 Total Assets (Rs in mn) 4,530.16

MA (10-day) 8.02 Total Equity (Rs in mn) 844.38

MA (100-day) 7.59 Revenue (Rs in mn) 3,757.22

MA (200-day) 7.23 Interest Expense 459.22

1st Support 9.16 Profit after Taxation 101.80

2nd Support 9.15 EPS 10 (Rs) 5.496

1st Resistance 9.16 Book value / share (Rs) 45.59

2nd Resistance 9.15 PE 11 E (x) 1.11

Pivot 9.15 PBV (x) 0.20


As on Jun 30, 2010

SAIF closed up 1.00 at 7.01. Volume was 488 per cent above average

(trending) and Bollinger Bands were 18 per cent narrower than normal.

The company's profit after taxation stood at Rs82.072 million which

translates into an Earning Per Share of Rs3.11 for the 1st quarter of cur-

rent fiscal year (1QFY11).

SAIF is currently 67.0 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

the average volatility over the last 10 trading sessions. Volume indicators

reflect volume flowing into and out of SAIF at a relatively equal pace. Trend

forecasting oscillators are currently bullish on SAIF. Momentum oscillator is

currently indicating that SAIF is currently in an overbought condition.


MA (10-day) 5.94 Total Equity (Rs in mn) 406.03







Pivot 6.65 PBV (x) 0.46

Saif Textile Mills Limited


As on Dec 31, 2009

SNBL closed up 0.71 at 6.11. Volume was 150 per cent above average

(trending) and Bollinger Bands were 42 per cent wider than normal. The

company's loss after taxation stood at Rs17.60 million which translates

into a Loss Per Share of Rs0.03 for the nine months of current calen-

dar year (9MCY10).

SNBL is currently 11.8 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared to


reflect volume flowing into and out of SNBL at a relatively equal pace. Trend

forecasting oscillators are currently bearish on SNBL.


MA (10-day) 6.10 Total Equity (Rs in mn) 7,803.20


MA (200-day) 6.93 Interest Expense 6,602.78




2nd Resistance 6.75 PE 10 E (x) -

Pivot 6.00 PBV (x) 0.39

Soneri Bank Limited


As on Jun 30, 2010

HIRAT closed down -0.03 at 3.82. Volume was 137 per cent aboveaverage and Bollinger Bands were 25 per cent narrower than normal.The company's profit after taxation stood at Rs94.915 million whichtranslates into an Earning Per Share of Rs1.33 for the 1st quarter ofcurrent fiscal year (1QFY11).HIRAT is currently 1.0 per cent below its 200-day moving average and isdisplaying a downward trend. Volatility is relatively normal as compared tothe average volatility over the last 10 trading sessions. Volume indicatorsreflect volume flowing into and out of HIRAT at a relatively equal pace.Trend forecasting oscillators are currently bearish on HIRAT.


MA (10-day) 3.74 Total Equity (Rs in mn) 1,312.24







Pivot 3.85 PBV (x) 0.21

Hira Textile Mills Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,406.37 1,464.72 1,410.36 1,458.33 51.96 3.69

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

8,607,889 - - 65,194.15 mn 1,101,351.69 mn 1,458.33

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

10.07 3.28 32.54 55.94 5.56 1,406.37

Attock Petroleum XD 691 6.42 340.02 357.02 342.65 355.22 15.20 482504 401.00 321.00 300 20B115.00 -

Attock Refinery 853 4.42 103.46 108.63 105.01 108.63 5.17 938176 146.90 98.25 - - - -

BYCO Petroleum 3921 - 8.76 9.19 8.85 9.12 0.36 879652 12.24 8.20 - - - -

Mari Gas Company 735 7.45 104.07 108.23 104.85 107.31 3.24 42293 141.65 99.46 31 - 23.43 -

National Refinery 800 5.88 270.04 283.54 271.05 283.54 13.50 265042 335.00 254.00 200 - - -

Oil & Gas Development 43009 10.11 145.39 150.60 145.01 149.43 4.04 1266800 185.00 144.97 55 - 15.00 -

Pak PetroleumSPOT 11950 7.70 200.47 210.49 201.99 210.47 10.00 1971882 229.80 190.10 90 20B 50.00 -

Pak Oilfields XD 2365 7.06 292.38 306.99 294.25 306.29 13.91 2969686 341.50 272.20 255 -100.00 -

Pak Refinery Limited 350 - 87.61 91.99 88.45 91.99 4.38 124879 122.22 83.00 - - - -

P.S.OSPOT 1715 4.85 280.18 288.00 281.55 286.77 6.59 519045 317.79 265.00 80 - 50.00 -

Shell Gas LPG 226 - 26.06 27.00 26.00 26.00 -0.06 2215 38.30 26.00 - - - -

Shell Pakistan 685 10.30 195.29 202.00 197.99 200.84 5.55 25367 222.00 186.83 40 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

PERSONAL GOODS

Performance of SR Personal Goods Index


972.14 990.27 964.41 981.80 9.66 0.99


19,505,918 - - 47,070.70 mn 131,190.57 mn 985.85


6.25 0.54 8.64 16.68 2.67 962.69

(Colony) Thal 56 - 1.15 1.00 1.00 1.15 0.00 113 1.50 0.61 - - - -AL-Qadir Textile 76 - 8.87 7.87 7.87 8.87 0.00 400 9.00 4.05 10 - - -Amtex Limited 2594 - 2.51 2.67 2.41 2.61 0.10 407280 4.80 2.35 30 - - -Azam Textile 133 0.32 2.00 2.40 2.00 2.00 0.00 4052 3.00 1.32 7.5 - - -Azgard Nine 4493 - 8.83 8.90 8.44 8.59 -0.24 6458088 12.84 8.05 - - - -Babri Cotton 33 0.16 11.80 12.80 12.50 12.80 1.00 25208 14.00 8.10 - 15B - -Bannu Woolen XD 76 0.41 13.45 14.45 14.40 14.45 1.00 14002 15.10 12.60 20 - - -Bata (Pak) 76 4.79 528.42 554.84 502.00 551.65 23.23 9200 705.00 493.50 280 - - -Chenab Limited 1150 - 2.26 2.44 2.20 2.26 0.00 14434 3.76 2.05 - - - -Colony Mills Ltd 2442 2.01 2.11 2.35 2.20 2.29 0.18 1812 2.97 2.00 - - - -Colony Sarhad 40 0.06 0.35 0.30 0.30 0.30 -0.05 5000 0.60 0.30 - - - -Crescent Jute 238 - 0.90 1.12 0.80 1.12 0.22 3063 1.43 0.32 - - - -D S Ind Ltd 600 - 1.39 1.70 1.33 1.65 0.26 257286 2.10 1.20 - - - -Data Textile 99 - 0.35 0.30 0.30 0.30 -0.05 2500 1.10 0.08 - - - -Dawood Lawrencepur 514 51.79 43.08 44.98 43.00 44.02 0.94 15387 48.29 35.00 5 - - -Dewan Khalid Textile 57 0.22 2.10 2.00 2.00 2.00 -0.10 500 3.75 1.50 - - - -Dewan Mushtaq Textile 34 0.15 4.00 4.50 4.00 4.40 0.40 30025 8.90 2.90 - - - -Ellcot Spinning 110 0.57 24.01 25.20 24.40 25.20 1.19 8702 25.95 18.90 35 - - -Gadoon Textile XD 234 0.74 72.00 75.60 73.00 75.24 3.24 38002 77.40 47.99 70 - - -Gul Ahmed Textile 635 2.49 34.03 35.69 34.05 35.49 1.46 12738 35.69 24.25 12.5 - - -Gulistan Spinning 146 0.32 6.84 7.84 6.90 7.82 0.98 117299 7.84 5.02 10 - - -Gulshan Spinning 222 0.33 8.14 9.14 9.14 9.14 1.00 271394 9.14 6.30 10 20B - -Hira Textile Mills Ltd. 716 0.77 3.85 4.00 3.70 3.82 -0.03 297600 4.47 3.31 10 - - -Ibrahim Fibres 3105 3.30 46.34 46.00 44.25 45.62 -0.72 7686 55.00 37.50 20 - - -Ideal Spinning 99 0.93 8.99 9.98 7.99 8.99 0.00 333 10.90 3.63 - - - -Idrees Textile 180 1.99 3.40 3.64 3.62 3.63 0.23 13471 3.90 2.70 10 - - -Ishaq Textile 97 1.52 7.80 8.25 7.00 7.01 -0.79 5251 8.70 6.00 8 - - -Kohat Textile 208 0.32 1.00 1.01 1.00 1.00 0.00 4000 2.50 0.85 - - - -Kohinoor Ind 303 - 1.45 1.70 1.45 1.55 0.10 60840 2.00 0.75 - - - -Kohinoor Spinning 1300 0.43 1.20 1.09 1.07 1.07 -0.13 1005 1.74 0.30 5 - - -Leather Up 60 5.25 2.80 2.10 2.00 2.10 -0.70 1011 2.90 1.00 - - - -Masood Textile 600 1.90 17.79 17.79 17.79 17.79 0.00 1000 20.74 17.10 15 100R - -Mian Textile 221 - 0.59 0.36 0.36 0.36 -0.23 893 0.75 0.25 - - - -Mukhtar Textile 145 - 0.42 0.49 0.47 0.42 0.00 200 0.88 0.13 - - - -Nagina Cotton 187 1.71 14.54 15.50 15.50 15.50 0.96 3500 17.10 14.50 20SD - - -Nishat (Chunian) 1614 3.76 24.58 25.10 23.38 24.47 -0.11 7490782 28.04 21.15 15 - - -Nishat Mills 3516 5.57 61.04 63.10 60.50 62.73 1.69 2245859 71.89 57.20 25 45R - -Pak Synthetic 560 2.26 13.21 14.21 13.25 14.16 0.95 1191610 14.45 6.85 - - - -Paramount Spinning 174 0.57 10.47 11.47 11.47 11.47 1.00 45905 12.75 8.50 10 10B - -Premium Textile 62 0.55 28.80 29.94 28.50 28.83 0.03 1506 34.40 25.00 50 - - -Prosperity 185 1.12 13.80 14.49 14.25 14.25 0.45 5351 15.50 13.10 30 - - -Quality Textile 160 2.20 13.25 13.65 13.65 13.65 0.40 500 14.25 12.25 15 - - -Quetta Textile 130 0.75 43.88 46.07 41.69 41.69 -2.19 1600 48.48 34.35 20 - - -Ravi Textile 250 - 1.19 1.16 1.02 1.06 -0.13 67671 1.98 0.65 - - - -Redco Textile 213 4.71 0.40 0.80 0.79 0.80 0.40 20000 1.45 0.40 - - - -Reliance Cotton 103 0.81 39.64 38.05 38.05 39.64 0.00 425 43.30 33.99 20 - - -Reliance Weaving 308 0.61 10.88 11.88 11.50 11.88 1.00 23912 11.88 8.50 25SD - - -Rupali Poly 341 3.64 38.79 39.90 39.00 39.18 0.39 7160 42.70 35.25 40 - - -Saif Textile 264 0.35 6.01 7.01 6.00 7.01 1.00 125975 7.01 3.90 - - - -Sajjad Textile 213 - 0.42 0.52 0.50 0.50 0.08 2009 3.74 0.15 - - - -Salfi Textile 33 0.39 71.99 71.99 68.50 68.50 -3.49 1351 76.43 52.00 25 - - -Sally Textile 88 0.19 5.25 5.83 4.80 5.00 -0.25 49624 5.83 3.63 10 - - -Samin Textile 267 4.28 6.00 6.70 5.00 5.99 -0.01 6104 7.00 4.55 - 100R - -Sana Ind 55 3.10 39.05 41.00 41.00 41.00 1.95 501 49.66 38.00 60 - - -Sargoda Spinning 312 1.04 3.50 3.70 3.10 3.45 -0.05 15859 4.45 1.55 5 - - -Saritow Spinning 133 0.38 1.70 2.33 1.62 1.88 0.18 2503 2.89 1.00 - - - -Service Ind 120 6.66 193.27 197.00 193.00 194.62 1.35 2999 276.50 186.00 - - - -Suraj Cotton 180 0.77 37.56 39.43 38.50 39.42 1.86 9107 41.95 33.00 50 - - -Tata Textile 173 0.50 41.21 43.15 39.15 39.15 -2.06 2811 44.10 31.52 25 - - -Thal Limited 307 5.52 106.00 111.30 106.00 111.25 5.25 15110 132.00 100.51 80 20B - -Treet Corp 418 5.79 46.32 48.01 46.15 47.10 0.78 69950 63.30 44.10 - - - -Yousuf Weaving 400 0.56 1.35 1.20 1.19 1.19 -0.16 1007 1.99 1.05 - - - -ZahidJee Textile 341 0.72 3.70 4.00 4.00 4.00 0.30 1400 4.88 2.27 - - - -Zahoor Cotton 99 - 0.75 0.45 0.45 0.45 -0.30 1000 0.87 0.45 - - - -Zephyr Textile Ltd 594 5.83 2.57 3.50 3.50 3.50 0.93 2500 4.50 2.56 - - - -Zil Limited 53 4.98 68.07 71.46 67.50 68.07 0.00 309 87.90 50.00 35 - - -



(%) (%) (%) (%)

HOUSEHOLD GOODS

Performance of SR Household Goods Index


995.47 1,015.84 981.72 1,010.54 15.08 1.51


178,304 - - 3,763.71 mn 4,950.34 mn 1,028.45


2.30 0.25 10.64 6.27 2.72 985.26

Gauhar Engineering Ltd 22 - 1.40 2.35 0.75 1.00 -0.40 17500 2.35 0.45 - - - -

Pak Elektron 1219 3.22 12.38 12.95 12.40 12.79 0.41 101668 15.88 12.07 - 10B - -

Tariq Glass IndSPOT 231 2.24 17.32 17.88 16.82 17.01 -0.31 59023 24.00 16.00 17.5 - - 200R



(%) (%) (%) (%)

FOOD PRODUCERS

Performance of SR Food Producers Index


1,933.35 2,000.67 1,910.08 1,929.19 -4.16 -0.22


291,927 - - 11,335.33 mn 278,386.83 mn 1,933.35


47.31 14.34 30.30 30.57 0.65 1,902.97

Ansari Sugar 244 - 5.00 5.50 5.50 5.50 0.50 500 6.99 4.05 - - - -

Bawany Sugar 87 - 5.50 5.25 5.25 5.25 -0.25 2290 6.73 2.51 - - - -

Chashma Sugar XD 287 3.14 9.00 8.87 8.05 8.05 -0.95 2005 13.90 8.05 10 - - -

Faran Sugar 217 1.55 19.00 19.15 18.70 19.15 0.15 6974 21.73 17.25 25 - - -

Habib Sugar 750 8.27 21.28 21.50 20.50 20.85 -0.43 190822 36.50 20.25 25 25B - -

Habib-ADM Ltd 200 7.31 11.56 11.99 11.67 11.99 0.43 1625 12.95 11.50 40 - - -

Haseeb Waqas 324 - 16.00 16.50 16.50 16.00 0.00 455 23.62 14.71 10 - - -

Ismail Ind 505 20.40 87.38 87.00 83.05 83.22 -4.16 540 90.00 68.60 17.5 110R - -

J D W Sugar 539 1.26 70.00 72.00 69.01 70.93 0.93 17660 92.50 68.00 7010B 12.5R - -

Mehran Sugar XD 157 1.73 55.75 54.99 52.97 52.99 -2.76 3698 68.49 52.60 35 20B 7.50 -

Mirza Sugar 141 - 3.17 3.47 3.25 3.25 0.08 7804 7.18 2.65 10 - - -

Nestle Pakistan 453 37.49 3455.50 3559.00 3350.01 3400.24 -55.26 1106 3695.00 2100.00 750 - - -

Noon Pakistan 48 5.79 22.10 21.15 21.00 21.07 -1.03 1400 27.24 21.00 12 - - -

Noon Sugar 165 1.18 10.40 11.00 10.45 11.00 0.60 1780 14.45 9.00 - - - -

Pangrio Sugar 109 - 3.23 4.00 3.25 4.00 0.77 6481 6.99 3.00 10 - - -

Quice Food 107 7.16 2.70 3.15 2.99 3.15 0.45 25500 4.00 2.06 - - - -

Rafhan Maize 92 12.60 2545.21 2665.78 2451.11 2507.35 -37.86 349 3016.00 1860.00 1150 - - -

S S Oil 57 0.29 4.56 4.75 4.02 4.75 0.19 20000 4.75 2.50 - - - -

Wazir Ali 80 - 6.16 7.16 6.12 6.12 -0.04 591 8.95 5.90 - - - -



(%) (%) (%) (%)

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index


1,102.93 1,151.47 1,090.53 1,130.70 27.77 2.52


348,205 - - 6,768.53 mn 41,909.56 mn 1,151.34


3.87 0.98 25.35 20.42 5.28 1,102.93

Agriautos Ind 144 4.75 69.97 73.25 70.00 72.45 2.48 9800 82.63 66.45 90 - - -

Atlas Battery 101 4.97 183.49 188.40 183.05 187.24 3.75 5420 205.00 159.00 100 20B - -

Atlas Engineering Ltd 247 23.09 36.90 37.40 37.40 37.40 0.50 500 43.26 15.00 - - - -

Atlas Honda 626 9.12 125.33 131.59 127.00 131.39 6.06 42481 143.80 106.05 - - - -

Dewan Motors 890 - 1.66 1.88 1.60 1.85 0.19 200036 2.89 1.46 - - - -

Exide (PAK) 56 4.35 177.80 186.00 180.25 177.80 0.00 108 217.44 172.12 60 - - -

General Tyre 598 4.58 22.00 23.10 22.39 23.10 1.10 9657 26.74 21.00 20 - - -

Ghandhara Nissan 450 - 3.49 3.35 3.05 3.27 -0.22 25956 5.36 3.05 - - - -

Ghani Automobile Ind 200 5.96 3.87 4.29 4.29 4.29 0.42 6000 5.49 3.75 - - - -

Honda Atlas Cars 1428 - 9.87 10.75 10.01 10.10 0.23 4186 12.87 9.52 - - - -

Indus Motors 786 10.13 230.45 240.00 224.00 233.95 3.50 5076 309.73 224.00 150 - 50.00 -

Pak Suzuki 823 10.36 62.50 65.62 62.50 65.05 2.55 36735 74.80 60.00 - - - -

Sazgar Engineering 150 3.97 21.67 22.00 21.98 22.00 0.33 2250 24.00 18.80 10 20B 10.00 -



(%) (%) (%) (%)

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index


1,518.97 1,557.70 1,519.08 1,551.18 32.20 2.12


105,201 - - 1,336.62 mn 31,989.60 mn 1,551.18


7.42 2.82 38.02 131.49 17.72 1,488.38

Ados Pak 66 10.16 14.18 13.41 13.18 13.41 -0.77 210 18.20 13.18 - - - -

AL-Khair Gadoon 100 - 5.75 5.00 5.00 5.75 0.00 400 6.50 5.00 - - - -

AL-Ghazi Tractor 215 5.01 222.01 225.80 221.00 222.75 0.74 1824 244.95 214.90 400 - - -

Bolan Casting 104 4.52 43.00 45.15 45.00 45.01 2.01 4004 48.63 42.90 25 10B - -

Dewan Auto Engineering 214 - 0.91 1.00 0.82 0.90 -0.01 4535 2.40 0.21 - - - -

Ghandhara Ind 213 7.54 8.66 8.85 8.25 8.60 -0.06 66328 13.50 8.25 - - - -

KSB Pumps 132 6.84 55.02 57.77 54.55 57.10 2.08 2080 70.80 54.27 - - - -

Millat Tractors XD 366 7.78 493.74 506.00 495.00 505.05 11.31 25814 568.40 466.27 650 25B325.00 -



(%) (%) (%) (%)

GENERAL INDUSTRIALS

Performance of SR General Industrials Index


893.43 929.68 894.09 920.07 26.64 2.98


66,688 - - 3,043.31 mn 35,194.52 mn 920.07


2.56 1.13 43.91 15.55 6.06 888.57

Cherat Papersack XR 115 2.28 48.73 50.10 49.40 49.61 0.88 9185 83.23 47.80 20 25B - 50R

ECOPACK Ltd 230 - 2.43 2.60 2.26 2.49 0.06 12170 3.30 2.05 - - - -

Ghani Glass 1067 5.32 50.52 51.75 51.00 51.19 0.67 2951 56.45 45.30 25 10B - -

MACPAC Films 389 - 4.00 4.01 3.55 4.00 0.00 7400 4.19 2.50 - - - -

Merit Pack 47 17.27 29.61 31.09 30.40 31.09 1.48 367709 33.80 17.95 - - - -

Packages Ltd 844 - 109.58 115.05 110.99 115.05 5.47 12936 143.00 103.52 32.5 - - -

Siemens Engineering 82 9.97 963.08 1011.23 950.00 983.16 20.08 452 1353.73 915.00 900 - - -

Tri-Pack Films 300 8.31 133.70 137.00 132.25 136.99 3.29 21594 144.50 111.25 100 - - -



(%) (%) (%) (%)

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index


804.81 835.60 802.69 828.63 23.82 2.96


5,104,283 - - 54,792.74 mn 60,630.98 mn 835.95


5.30 0.38 7.10 19.04 3.59 788.89

Al-Abbas Cement 1828 - 2.44 2.68 2.38 2.56 0.12 4605 3.98 2.25 - 100R - -

Attock Cement 866 6.45 50.62 50.99 48.50 50.95 0.33 4277 64.40 48.50 50 - - -

Balochistan Glass Ltd 858 - 2.13 2.54 2.15 2.43 0.30 5232 4.24 1.46 - - - -

Berger Paints 182 - 15.20 16.00 14.90 15.80 0.60 4606 24.16 14.72 - 122R - -

Cherat Cement 956 37.50 8.75 9.00 8.94 9.00 0.25 5000 12.00 8.00 - - - -

Dadabhoy Cement 982 12.46 1.57 1.78 1.60 1.62 0.05 100703 2.49 1.50 - - - -

Dewan Cement 3891 - 1.60 1.92 1.60 1.81 0.21 469605 3.10 1.50 - - - -

DG Khan Cement Ltd 3651 10.23 22.55 23.67 22.65 23.63 1.08 2066377 32.30 21.20 - 20R - 20R

Fauji Cement 6933 5.75 4.14 4.30 4.06 4.14 0.00 320592 5.55 3.97 - - - 92R

Fecto Cement 502 2.12 6.71 7.45 7.00 7.00 0.29 6993 8.00 6.30 - - - -

Flying Cement Ltd 1760 - 1.40 1.58 1.36 1.57 0.17 53261 2.25 1.30 - - - -

Frontier Ceramics 77 - 2.00 2.00 1.51 2.00 0.00 10425 3.40 0.71 - - - -

Gammon Pak 283 - 1.22 1.21 1.21 1.21 -0.01 990 3.65 1.01 - - - -

Haydery Const 32 - 0.52 0.53 0.47 0.47 -0.05 45501 0.99 0.25 - - - -

Kohat Cement 1288 - 5.53 5.70 5.50 5.64 0.11 27467 7.44 5.11 - - - -

Lafarge Pakistan Cmt. 13126 - 2.78 2.92 2.80 2.86 0.08 582801 3.88 2.65 - - - -

Lucky Cement 3234 5.69 61.47 63.50 61.10 63.36 1.89 1044664 78.44 59.55 40 - - -

Maple Leaf Cement 5261 - 2.11 2.25 2.10 2.23 0.12 337654 3.30 1.92 - - - -

Pioneer Cement 2228 - 5.45 5.68 5.50 5.54 0.09 6724 7.65 5.17 - - - -

Shabbir Tiles 361 - 6.02 6.70 6.70 6.02 0.00 200 9.60 5.70 - - - -

Thatta Cement 798 861.50 16.27 17.27 17.00 17.23 0.96 6567 20.20 16.20 - 50R - -



(%) (%) (%) (%)

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index


969.61 1,008.77 965.03 1,005.44 35.83 3.70


163,520 - - 3,596.11 mn 9,524.61 mn 1,005.44


3.02 1.00 33.10 30.91 10.23 962.54

Crescent Steel 565 2.91 27.22 27.85 27.05 27.83 0.61 10830 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.00 2.14 1.85 2.03 0.03 44606 3.29 1.80 - - - -

Huffaz Pipe 555 446.67 13.32 13.70 13.30 13.40 0.08 30259 16.51 13.00 - - 15.00 -

International Ind XD 1199 18.04 47.25 49.61 46.85 49.61 2.36 74425 62.20 45.81 55 20B - -

Siddiqsons Tin 785 40.95 8.70 9.15 8.97 9.01 0.31 3400 10.70 8.51 7.5 - - -



(%) (%) (%) (%)

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index


963.20 997.03 973.81 973.95 10.75 1.12


19,968 - - 1,186.83 mn 2,686.83 mn 1,016.51


5.02 0.37 7.47 25.28 5.03 963.20

Century Paper 707 - 14.69 15.01 14.90 14.90 0.21 2013 19.69 14.50 - - - -

Pak Paper Product 50 8.56 39.00 40.75 37.05 37.13 -1.87 8087 48.90 37.05 2533.33B - -

Security Paper 411 6.25 34.43 35.94 35.00 35.00 0.57 9868 47.70 34.00 50 - - -



(%) (%) (%) (%)

CHEMICALS

Performance of SR Chemicals Index


1,568.62 1,627.34 1,567.07 1,619.07 50.44 3.22


44,576,141 - - 52,251.88 mn 353,233.88 mn 1,619.07


9.04 3.16 35.00 48.81 5.40 1,517.51

Agritech Limited 3924 24.33 24.33 23.12 23.12 24.33 0.00 150 26.73 21.51 - - - -

BOC (Pak) 250 9.08 85.10 89.35 84.85 88.45 3.35 9025 103.94 82.00 60 - - -

Clariant Pak 273 7.04 197.48 198.99 195.75 196.71 -0.77 49914 213.30 155.00 135 25B - -

Dawood Hercules 1203 14.34 246.65 257.39 246.41 256.12 9.47 777843 259.48 165.73 50 300B - -

Descon Chemical 1996 - 2.52 2.80 2.41 2.65 0.13 145198 3.74 2.34 - - - -

Descon Oxychem Ltd. 1020 8.71 6.39 6.74 6.40 6.62 0.23 366435 9.25 6.00 - - - -

Dewan Salman 3663 - 2.54 2.77 2.48 2.66 0.12 1321130 4.24 1.96 - - - -

Dynea Pak 94 5.91 11.00 11.00 11.00 11.00 0.00 2000 11.98 10.06 15 - - -

Engro Corporation Ltd 3277 11.78 208.51 216.00 207.62 214.38 5.87 3915283 222.80 184.71 60 20B - -

Engro Polymer 6635 - 12.17 12.40 12.10 12.40 0.23 129112 15.87 11.75 - - - -

Fatima Fertilizer 22000 - 11.64 12.00 11.53 11.97 0.33 869444 12.64 9.16 - - - -

Fauji FertilizerXDXB 8482 7.29 114.74 119.00 115.01 118.51 3.77 3748952 157.90 108.00 130 25B - -

Fauji Fert.Bin Qasim 9341 7.80 40.33 41.49 40.31 41.33 1.00 5735281 43.99 34.60 65.5 - - -

Ghani Gases Ltd 725 9.87 10.98 11.50 11.00 11.25 0.27 24980 13.07 10.66 - - - -

ICI Pakistan 1388 8.83 147.17 154.52 147.00 154.52 7.35 306648 158.49 136.50 175 - - -

Ittehad Chemical 360 6.07 26.35 27.55 27.55 27.55 1.20 500 36.00 23.07 5 - 5 -

Leiner Gelatine 75 - 10.16 11.16 11.16 11.16 1.00 1301 19.90 9.15 - - - -

Lotte Pakistan 15142 5.71 14.53 15.53 14.61 15.53 1.00 26999783 16.80 12.52 5 - - -

Mandviwala 74 - 0.96 0.98 0.57 0.98 0.02 16023 2.45 0.57 - - - -

Nimir Ind Chemical 1106 25.60 2.41 2.66 2.38 2.56 0.15 1078300 3.17 1.50 - - - -

Pak Gum 42 - 16.68 17.00 17.00 17.00 0.32 1000 28.20 16.68 - - - -

Shaffi Chemical 120 - 2.05 2.24 2.10 2.14 0.09 775 3.10 1.55 - - - -

Sitara Chem Ind 214 8.06 100.57 99.75 95.55 95.55 -5.02 17687 131.90 95.55 25 5B - -

Sitara Peroxide 551 5.61 12.65 13.14 12.56 13.01 0.36 72498 14.54 11.81 - - - -

Wah-Noble 90 5.58 36.00 36.89 36.26 36.27 0.27 1501 41.99 33.20 50 - - -



(%) (%) (%) (%)

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index


829.08 855.29 831.03 850.68 21.61 2.61


20,643 - - 3,904.20 mn 28,097.34 mn 854.86


6.41 1.43 22.31 44.54 6.95 827.02

Abbott (Lab) 979 6.81 80.05 82.50 80.00 81.80 1.75 6957 112.50 78.59 50 - - -

Ferozsons (Lab) 250 6.01 86.90 89.00 87.11 89.00 2.10 3125 98.00 83.50 - 20B 12.50 -

GlaxoSmithKline 1707 12.94 69.03 71.99 70.00 71.92 2.89 4780 89.98 68.00 - - - -

Highnoon (Lab) 165 6.84 25.05 25.00 24.62 24.68 -0.37 600 30.48 24.50 - - - -

IBL HealthCare Ltd 200 4.13 10.00 10.75 10.00 10.50 0.50 2772 10.75 7.16 - - - -

Otsuka Pak 100 7.93 32.35 30.76 30.75 32.35 0.00 106 35.70 30.75 - - 15 -

Sanofi-Aventis 96 6.08 134.42 141.14 134.00 141.14 6.72 1799 174.00 126.00 100 - - -

Searle Pak 306 5.40 61.35 61.80 61.80 61.80 0.45 500 69.00 58.50 30 - - -



(%) (%) (%) (%)

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index


668.51 692.02 676.14 687.68 19.18 2.87


3,068 - - 3,242.17 mn 11,836.34 mn 702.67


5.18 1.32 25.53 11.08 2.14 668.51

Pak Int Cont.Terminal 1092 6.50 65.24 67.80 66.30 67.64 2.40 2627 76.65 63.00 40 - - -

PNSC 1321 8.96 32.25 32.98 32.05 32.25 0.00 441 39.45 31.00 15 - - -



(%) (%) (%) (%)

BOOK CLOSURES

Kohinoor Energy 02-Mar 08-Mar 10(I) 22-02-2011 -Pakistan State Oil 03-Mar 10-Mar 50(I) 23-02-2011 -Pakistan Petroleum 03-Mar 09-Mar 50(I) 23-02-2011 -Pakistan Petroleum (Pref) 03-Mar 09-Mar 30(I) - -Central Insurance # 03-Mar 10-Mar - - 10-MarColgate - Palmolive # 04-Mar 10-Mar - - 10-MarPicic Growth Fund 05-Mar 12-Mar 12.50(I) 25-02-2011 -Picic Invt Fund 05-Mar 12-Mar 7.5(I) 25-02-2011 -Picic Energy Fund 05-Mar 12-Mar 10(I) 25-02-2011 -Shabbir Tiles & Ceramics # 06-Mar 12-Mar - - 12-MarTariq Glass 07-Mar 13-Mar 200(R) 25-02-2011 -Bank Al-Habib 07-Mar 17-Mar 20(F),20(B) 25-02-2011 17-MarHusein Industries # 07-Mar 12-Mar - - 12-MarCrescent Steel 09-Mar 15-Mar 10(I) 01-Mar -Allied Bank Ltd 10-Mar 16-Mar 20(F),10(B) 02-Mar 16-MarTri-Pack Films 10-Mar 18-Mar 100(F) 02-Mar 18-MarKot Addu Power 11-Mar 18-Mar 30(I) 03-Mar -Shahtaj Sugar Mills # 11-Mar - - - 22-MarBiafo Industries 12-Mar 18-Mar 15(II) 04-Mar -Sazgar Engg Works 13-Mar 19-Mar 10(I) 04-Mar -Sazgar Engg Works # 13-Mar 19-Mar - - 19-MarAtlas Honda # 14-Mar 21-Mar - - 21-MarFauji Fertiliser Bin Qasim 15-Mar 21-Mar 35(F) 07-Mar 21-Mar

INDICATIONS

# Extraordinary General Meeting

Company From To D/B/R Spot AGM/Date

OTHER SECTORS

TRG Pakistan Ltd. 2.44 2.67 2.48 2.65 0.21 1210674

Murree Brewery Co. 92.01 94.98 90.1 93.32 1.31 7515

Shezan International 158.81 166 156.5 158 -0.81 2639

Pak Tobacco 95.06 99.8 93.3 99.45 4.39 8003

Shifa Int.Hospitals 31.28 31.8 31.01 31.01 -0.27 1033

P.I.A.C.(A) 2.43 2.69 2.43 2.5 0.07 87446

AKD Capital Limited 36.29 38.1 36.5 37.63 1.34 2706

Pace (Pak) Ltd. 2.59 2.75 2.59 2.7 0.11 364149

Netsol Technologies 21.21 22.27 21.25 22.27 1.06 511336

Pak Telephone 1.58 1.45 1.4 1.4 -0.18 5597

Symbols Open High Low Close Change Vol

Wednesday, March 2, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 319.20 points at 11,608.43. Volume was

21 per cent above average and Bollinger Bands were 77 per cent

wider than normal. As far as resistance level is concern, the market

will see major 1st resistance level at 11,729.35 and 2nd resistance

level at 11,850.20, while Index will continue to find its 1st support

level at 11,388.40 and 2nd support level at 11,168.35.

KSE 100 INDEX is currently 8.6 per cent above its 200-day moving

average and is displaying a downward trend. Volatility is extremely

high when compared to the average volatility over the last 10 trading

sessions. Volume indicators reflect moderate flows of volume out of

INDEX (mildly bearish). Trend forecasting oscillators are currently

bearish on INDEX.

RSI (14-day) 39.56 Support 1 11,388.40

MA (5-day) 11,436.77 Support 2 11,168.35

MA (10-day) 11,697.91 Resistance 1 11,729.35

MA (100-day) 11,506.13 Resistance 2 11,850.20

MA (200-day) 10,689.84 Pivot 11,509.30


National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed up 3.40 at 71.59. Volume was 205 per cent above average

(trending) and Bollinger Bands were 97 per cent wider than normal.

NBP is currently 4.9 per cent above its 200-day moving average and is dis-

playing a downward trend. Volatility is extremely high when compared to


reflect volume flowing into and out of NBP at a relatively equal pace. Trend

forecasting oscillators are currently bearish on NBP.

*Invest Cap 52.4 Sell

AKD Securities Ltd 75.5 Accumulate

TFD Research 92.3 Positive

RSI (14-day) 44.25 Free Float Shares (mn) 318.50

MA (10-day) 71.23 Free Float Rs (mn) 22,801.26

MA (100-day) 70.87 ** NOI Rs (mn) 92.35

MA (200-day) 68.26 Mean 69.92

* Target price for Jun-11 & **Net Open Interest in future market


Hub Power Co Ltd


Technical Outlook

HUBC closed down -0.14 at 38.60. Volume was 272 per cent above aver-

age (trending) and Bollinger Bands were 1 per cent wider than normal.

HUBC is currently 9.6 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

to the average volatility over the last 10 trading sessions. Volume indica-

tors reflect volume flowing into and out of HUBC at a relatively equal pace.

Trend forecasting oscillators are currently bearish on HUBC.

*Invest Cap 47 Buy





MA (100-day) 36.47 ** NOI Rs (mn) 2.96

MA (200-day) 35.23 Mean 38.57



Fauji Fertiliser Bin Qasim Ltd


Technical Outlook

FFBL closed up 1.00 at 41.33. Volume was 2 per cent below average and

Bollinger Bands were 38 per cent narrower than normal.

FFBL is currently 29.8 per cent above its 200-day moving average and is



tors reflect volume flowing into and out of FFBL at a relatively equal pace.

Trend forecasting oscillators are currently bearish on FFBL.

*Invest Cap 39 Hold


TFD Research 44.25 Neutral



MA (100-day) 35.94 ** NOI Rs (mn) 18.75

MA (200-day) 31.85 Mean 40.87



Engro Corporation


Technical Outlook

ENGRO closed up 5.87 at 214.38. Volume was 73 per cent above average

and Bollinger Bands were 15 per cent wider than normal.

ENGRO is currently 14.6 per cent above its 200-day moving average and

is displaying a downward trend. Volatility is extremely high when compared


tors reflect moderate flows of volume into ENGRO (mildly bullish). Trend

forecasting oscillators are currently bearish on ENGRO.

*Invest Cap 210 Hold





MA (100-day) 194.48 ** NOI Rs (mn) 86.19

MA (200-day) 187.25 Mean 211.63



Fauji Fertiliser Co


Technical Outlook

FFC closed up 3.77 at 118.51. Volume was 95 per cent above average and

Bollinger Bands were 289 per cent wider than normal.

FFC is currently 2.7 per cent above its 200-day moving average and is dis-

playing a downward trend. Volatility is extremely high when compared to


reflect volume flowing into and out of FFC at a relatively equal pace. Trend

forecasting oscillators are currently bearish on FFC.






MA (100-day) 124.16 ** NOI Rs (mn) 52.18

MA (200-day) 115.39 Mean 116.82



Pakistan Oilfields Ltd


Technical Outlook

POL closed up 13.91 at 306.29. Volume was 44 per cent above average

and Bollinger Bands were 64 per cent wider than normal.

POL is currently 20.1 per cent above its 200-day moving average and is



tors reflect moderate flows of volume out of POL (mildly bearish). Trend

forecasting oscillators are currently bearish on POL.






MA (100-day) 285.70 ** NOI Rs (mn) 180.99

MA (200-day) 255.11 Mean 299.98



Bank Al-Falah Ltd


Technical Outlook

BAFL closed up 0.57 at 9.71. Volume was 7 per cent below average and

Bollinger Bands were 123 per cent wider than normal.

BAFL is currently 0.9 per cent above its 200-day moving average and is



tors reflect moderate flows of volume out of BAFL (mildly bearish). Trend

forecasting oscillators are currently bearish on BAFL.

*Invest Cap 11.55 Hold

AKD Securities Ltd 11.5 Buy




MA (100-day) 10.27 ** NOI Rs (mn) N/A

MA (200-day) 9.62 Mean 9.46


EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index


1,374.30 1,452.37 1,386.44 1,425.58 51.28 3.73


1,743,752 - - 29,771.58 mn 19,020.14 mn 1,425.58


19.22 0.42 2.21 104.74 8.47 1,363.90

AL-Meezan Mutual F. 1375 3.96 9.59 9.99 9.60 9.81 0.22 66431 11.50 6.80 18.5 - 5.00 -

AL-Noor Modaraba 210 1.89 3.30 3.25 3.15 3.25 -0.05 600 3.50 2.76 5 - - -

B F Modaraba 75 1.23 4.32 4.32 4.32 4.32 0.00 1000 4.32 2.89 - 10B - -

B R R Guardian Mod. 780 1.58 1.37 1.47 1.35 1.45 0.08 2416 2.79 1.12 0 - - -

Constellation Modaraba 65 1.65 1.20 1.47 1.14 1.22 0.02 3434 1.99 1.00 - - - -

Crescent St Modaraba 200 1.43 0.52 0.70 0.53 0.63 0.11 4315 0.87 0.16 1.2 - - -

Elite Cap Modaraba 113 3.35 3.03 2.94 2.75 2.75 -0.28 733 3.49 2.12 5 - - -

Equity Modaraba 524 1.02 1.62 1.93 1.56 1.67 0.05 4450 2.98 1.30 - - - -

Golden Arrow 760 1.45 3.04 3.22 3.05 3.17 0.13 14824 3.89 2.90 17 - - -

H B L Modaraba 397 3.54 7.22 7.23 7.23 7.23 0.01 3000 9.00 6.40 11 - - -

Habib Modaraba 1008 6.03 7.00 7.15 6.99 7.00 0.00 8695 7.30 6.50 21 - - -

JS Growth Fund 3180 2.23 5.15 5.80 5.31 5.79 0.64 605501 6.17 4.25 5 - - -

JS Value Fund 1186 1.21 4.50 5.19 4.31 5.02 0.52 118804 6.61 4.15 10 - - -

Meezan Balanced F. 1200 2.49 8.25 8.70 8.49 8.65 0.40 58179 10.24 6.00 15.5 - - -

NAMCO Balanced F. 1000 1.94 3.55 4.20 3.00 4.18 0.63 1200 4.73 2.92 15 - - -

PICIC Energy F.SPOT 1000 3.40 8.12 8.30 8.05 8.23 0.11 74820 8.83 6.05 10 - 10.00 -

PICIC Growth F.SPOT 2835 4.04 13.20 13.57 13.00 13.50 0.30 595708 16.49 10.52 20 - 12.50 -

PICIC Inv FundSPOT 2841 3.39 6.00 6.45 6.11 6.24 0.24 175664 7.95 5.20 10 - 7.50 -

Stand Chart Modaraba 454 4.85 9.50 9.80 9.80 9.50 0.00 125 10.63 8.51 17 - - -

U D L Modaraba 264 2.48 6.47 6.90 6.52 6.90 0.43 3702 6.90 5.51 12.5 - 7.50 -



(%) (%) (%) (%)

FINANCIAL SERVICES

Performance of SR Financial Services Index


336.70 353.71 332.76 345.90 9.20 2.73


5,482,454 - - 30,336.44 mn 16,281.46 mn 355.48


11.51 0.23 0.91 99.56 3.94 317.42

AMZ Ventures 225 1.34 0.56 0.60 0.52 0.59 0.03 7288 0.95 0.33 - - - -

Arif Habib Investments 360 3.74 21.00 22.05 21.25 21.98 0.98 24585 24.85 16.80 - 20B - -

Arif Habib Limited 450 15.70 18.53 19.25 18.31 19.16 0.63 75316 28.00 18.31 - 20B - -

Arif Habib Corp 3750 4.03 19.90 20.75 19.65 20.62 0.72 4238431 30.20 18.75 30 - - -

Dawood Cap Mangt. XB 150 1.07 1.26 1.60 1.10 1.11 -0.15 33503 2.10 1.10 - - - -

Dawood Equities 250 543.33 1.64 1.83 1.63 1.63 -0.01 502 2.75 1.06 - - - -

Escorts Bank 441 - 2.01 2.48 1.81 2.01 0.00 165 3.80 1.55 - - - -

First Credit & Invest Bank Ltd 650 - 2.99 3.00 2.90 3.02 0.03 577076 4.00 2.15 - - - -

IGI Investment Bank 2121 9.23 2.00 2.30 2.00 2.03 0.03 7584 3.90 2.00 - - - -

Invest and Fin Sec 600 4.70 6.22 6.99 5.83 5.83 -0.39 9515 8.98 5.65 11.5 - - -

Invest Bank 2849 - 0.50 0.59 0.54 0.54 0.04 856 1.09 0.31 - - - -

Ist Cap Securities 3166 - 3.20 3.39 3.15 3.29 0.09 55076 3.95 2.95 - 10B - -

Ist Dawood Bank 626 0.86 1.64 1.73 1.60 1.63 -0.01 9042 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 8.97 9.30 8.85 9.23 0.26 3660505 13.39 8.01 10 - - -

JOV and CO 508 795.00 2.98 3.24 2.94 3.18 0.20 130632 4.49 2.58 - - - -

JS Global Cap 500 6.46 21.64 22.67 21.40 22.49 0.85 3245 31.50 20.80 - - - -

JS Investment 1000 - 5.58 5.89 5.60 5.84 0.26 184910 7.40 5.10 - - - -

KASB Securities 1000 - 4.47 4.48 4.28 4.36 -0.11 1001 5.43 3.75 - - - -

Orix Leasing 821 3.89 5.76 6.00 5.30 5.60 -0.16 4517 7.19 5.25 - - - -

Pervez Ahmed Sec 775 4.25 1.61 2.09 1.68 2.04 0.43 1169239 2.50 1.21 - - - -

Saudi Pak Leasing 452 - 0.69 0.62 0.60 0.60 -0.09 4300 0.97 0.41 - - - -

Sec Inv Bank 514 12.60 3.03 3.15 2.31 3.15 0.12 2501 4.99 2.26 - - - -

Sigma Leasing 300 10.05 9.25 9.25 9.25 9.25 0.00 101 11.00 9.25 - - - -

Stand Chart Leasing 978 3.08 2.27 2.65 2.28 2.28 0.01 2058 3.00 1.67 - - - -

Trust Brokerage 100 - 2.90 3.90 3.50 3.90 1.00 10976 4.40 1.42 - - - -

Trust Inv Bank 586 0.56 1.31 2.00 1.99 1.99 0.68 84934 2.00 0.61 - - - -



(%) (%) (%) (%)

LIFE INSURANCE

Performance of SR Life Insurance Index


687.68 701.36 674.01 694.07 6.39 0.93


12,268 - - 2,290.72 mn 8,239.80 mn 712.40


5.26 3.02 3.85 355.53 4.53 673.47

EFU Life Assurance 850 30.39 52.67 54.00 52.50 53.48 0.81 5100 86.40 51.31 - - - -

New Jub Life Insurance 627 19.23 45.00 45.00 43.01 44.99 -0.01 7146 49.31 39.05 15 - - -



(%) (%) (%) (%)

BANKS

Performance of SR Banks Index


1,048.14 1,102.19 1,050.16 1,095.41 47.27 4.51


38,430,548 - - 257,548.02 mn 665,138.45 mn 1,095.41


7.65 1.07 13.94 40.49 5.29 1,025.52

Allied Bank Limited 7821 6.29 64.12 67.00 64.10 66.65 2.53 613880 74.00 61.05 40 10B - -

Askari Bank 6427 6.76 13.20 14.20 13.25 14.20 1.00 919413 19.25 12.55 - 10B - -

Bank Alfalah 13492 12.45 9.14 9.90 9.08 9.71 0.57 2568565 11.99 8.75 - - - -

Bank AL-HabibSPOT 7322 7.38 36.30 36.95 36.00 36.31 0.01 1471665 39.49 34.00 20 20B - -

Bank Of Khyber 5004 5.53 4.14 4.20 4.15 4.15 0.01 28028 4.70 3.75 - - - -

Bank Of Punjab 5288 - 7.11 7.60 7.10 7.44 0.33 9261881 10.38 6.40 - - - -

BankIslami Pak 5280 870.00 3.37 3.55 3.36 3.48 0.11 136558 4.50 3.00 - - - -

Faysal Bank 7327 3.81 10.89 11.89 11.00 11.80 0.91 282476 16.47 10.69 - 20B - -

Habib Bank Ltd 10019 7.63 119.20 124.00 120.00 122.15 2.95 469476 128.97 108.07 65 10B - -

Habib Metropolitan Bank 8732 7.59 23.75 24.93 24.00 24.83 1.08 76089 29.28 22.50 - - - -

JS Bank Ltd 8150 - 2.98 3.05 2.80 3.04 0.06 2331215 3.05 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.45 1.64 1.50 1.60 0.15 537760 2.80 1.40 - - - -

MCB Bank Ltd 7602 9.59 202.95 213.09 203.50 212.80 9.85 1467909 250.48 195.55 85 10B - -

Meezan Bank 6983 7.63 17.59 18.20 17.55 18.00 0.41 161389 20.30 15.10 - 15B - -

Mybank Ltd 5304 - 2.14 2.21 2.11 2.20 0.06 5844 3.40 2.00 - - - -

National Bank 13455 6.25 68.19 71.59 68.30 71.59 3.40 14057204 80.61 66.01 75 25B - -

NIB Bank 40437 - 2.38 2.63 2.42 2.60 0.22 1292630 3.35 2.32 - - - -

Samba Bank 14335 - 1.66 1.93 1.66 1.70 0.04 28862 2.17 1.50 -63.46R - -

Silkbank Ltd 26716 - 2.19 2.35 2.16 2.26 0.07 1139787 3.05 2.06 - - - -

Soneri Bank 6023 29.10 5.40 6.35 5.60 6.11 0.71 468873 8.48 5.00 - - - -

Stand Chart Bank 38716 10.34 6.75 6.90 6.50 6.72 -0.03 75076 9.04 6.28 - - - -

Summit Bank Ltd 7251 - 3.12 3.20 2.95 3.11 -0.01 64283 4.63 2.86 - - - -

United Bank Ltd 12242 7.36 59.62 62.60 59.75 62.60 2.98 1035968 70.65 56.89 50 - - -



(%) (%) (%) (%)

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index


700.09 725.57 698.40 717.97 17.88 2.55


1,013,542 - - 11,111.34 mn 45,742.16 mn 717.97


11.78 0.61 5.20 79.54 6.75 689.92

Adamjee Insurance 1237 22.34 74.47 77.90 74.22 77.06 2.59 384511 96.40 71.55 10 - - -



(%) (%) (%) (%)

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index


1,431.89 1,451.76 1,407.70 1,419.37 -12.52 -0.87


1,185,516 - - 12,202.80 mn 31,868.76 mn 1,451.59


9.24 1.05 11.41 66.79 7.23 1,419.37

Sui North Gas 5491 11.65 20.23 20.40 19.71 19.81 -0.42 558083 29.39 19.71 20 - - -Sui South Gas 8390 3.77 24.99 25.45 24.75 25.02 0.03 627433 27.90 19.95 15 25B - -



(%) (%) (%) (%)

ELECTRICITY

Performance of SR Electricity Index


1,303.93 1,331.35 1,278.82 1,311.68 7.75 0.59


13,571,078 - - 95,369.29 mn 107,371.85 mn 1,311.68


13.82 1.29 9.35 104.13 7.53 1,254.79

Genertech 198 - 0.74 0.84 0.65 0.65 -0.09 22830 1.18 0.56 - - - -

Hub Power 11572 7.07 38.74 39.25 37.70 38.60 -0.14 6797837 41.20 35.90 50 - 25.00 -

Japan Power 1560 - 1.38 1.48 1.36 1.46 0.08 64096 2.10 1.25 - - - -

KESC 7932 - 2.43 2.60 2.47 2.57 0.14 1130268 3.55 2.30 - 7.8R - -

Kohinoor Energy XD 1695 6.99 16.99 17.50 16.00 16.07 -0.92 2941 22.85 16.00 15 - 10.00 -

Kot Addu Power 8803 5.61 42.77 43.75 42.75 43.70 0.93 360572 45.85 39.51 50 - 30.00 -

Nishat Chunian Power Ltd 3673 3.02 14.66 15.30 14.50 15.06 0.40 2443350 18.01 14.05 - - - -

Nishat Power Ltd 3541 2.38 15.34 16.34 15.25 16.27 0.93 2489192 18.70 14.85 - - - -

Sitara Energy Ltd 191 5.30 17.38 17.30 16.80 17.38 0.00 201 19.35 16.40 20 - - -

Southern Electric 1367 - 1.54 1.64 1.48 1.56 0.02 255710 2.80 1.41 - - - -

Tri-star Power XD 150 - 0.60 0.76 0.63 0.75 0.15 4071 1.49 0.55 - - - -



(%) (%) (%) (%)

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index


1,036.48 1,064.59 1,033.97 1,054.52 18.04 1.74


3,171,831 - - 50,077.79 mn 72,897.85 mn 1,084.20


5.69 0.73 12.84 62.56 11.00 1,021.12

Pak Datacom 78 6.52 63.17 60.02 60.02 60.02 -3.15 33124 82.39 60.02 80 - 15.00 -Pakistan Telecomm Co A 37740 11.97 17.75 18.10 17.70 17.95 0.20 1477465 20.65 17.25 17.5 - - -Telecard 3000 1.33 1.84 2.15 1.85 2.02 0.18 1015809 2.67 1.60 1 - - -WorldCall Tele 8606 - 2.30 2.50 2.33 2.50 0.20 645433 3.45 2.15 - - - -Wateen Telecom Ltd 6175 - 2.99 3.20 2.87 3.12 0.13 79525 4.65 2.80 - - - -



(%) (%) (%) (%)

Atlas Insurance 369 6.19 37.63 39.45 38.00 38.92 1.29 6422 40.00 35.47 - - - -

Central Insurance XB 279 8.52 73.99 75.00 73.00 75.00 1.01 1300 83.00 58.11 10 10B - -

Century Insurance 457 5.74 9.25 9.60 9.15 9.19 -0.06 13205 11.99 8.90 - - - -

EFU General Insurance 1250 - 33.62 34.89 33.50 33.87 0.25 26864 46.89 32.72 - - - -

Habib Insurance 400 2.97 12.10 12.95 12.42 12.49 0.39 12231 15.50 11.72 - - - -

IGI Insurance 718 8.49 96.42 99.43 96.01 98.81 2.39 4969 102.44 86.10 30 55B - -

New Jub Insurance 791 10.54 58.57 60.00 59.00 60.00 1.43 5732 61.80 56.00 35 25B - -

Pak Reinsurance 3000 38.77 14.67 15.15 14.62 15.12 0.45 431151 19.40 13.80 - - - -

Pak Gen Insurance 250 2.10 8.50 8.89 8.00 8.88 0.38 1500 9.95 6.10 - - - -

PICIC Ins Ltd 350 71.43 9.00 10.00 8.85 10.00 1.00 83870 10.75 6.01 - - - -

Premier Insurance 303 5.91 10.82 10.98 10.75 10.94 0.12 4589 12.93 10.10 - - - -

Reliance Insurance XB 252 3.85 6.20 6.27 6.27 6.27 0.07 2000 7.15 6.20 - - - -

Shaheen Insurance 200 - 10.55 11.24 9.55 10.32 -0.23 1100 14.20 9.41 - - - 25R

Silver Star Insurance 253 4.16 6.40 7.00 6.27 6.70 0.30 33998 8.20 6.01 - - - -

UPTO 100 VOLUME

CSIL 4.24 4.48 4.25 4.24 0.00 100

FNEL 4.95 5.50 5.40 4.95 0.00 100

SANSM 11.99 11.41 11.41 11.99 0.00 100

TRSM 1.99 2.10 2.10 1.99 0.00 100

DIIL 10.00 9.20 9.00 10.00 0.00 90

ULEVER 4658.20 4881.99 4633.10 4682.12 23.92 72

UPFL 1323.66 1299.99 1257.48 1257.48 -66.18 64

FECS 36.91 35.08 35.08 36.91 0.00 52

STJT 20.01 19.65 19.65 20.01 0.00 50

MOON 15.49 15.80 14.49 15.49 0.00 33

TSMF 0.99 1.59 1.40 0.99 0.00 26

DNCC 1.75 1.50 1.50 1.75 0.00 25

GUTM 19.35 20.35 20.35 19.35 0.00 24

ADMM 20.67 21.20 20.10 20.67 0.00 22

SING 22.23 21.13 21.13 22.23 0.00 21

ALICO 15.50 16.20 14.51 15.50 0.00 20

MIRKS 50.49 47.98 47.97 50.49 0.00 20

HMIM 0.95 0.51 0.50 0.95 0.00 19

KTML 4.80 5.25 4.11 4.80 0.00 19

BIFO 48.00 47.60 45.60 48.00 0.00 11

MUBT 1.05 1.05 0.25 1.05 0.00 11

COLG 859.90 860.01 860.01 859.90 0.00 10

EMCO 2.06 2.10 2.10 2.06 0.00 10

FZTM 409.93 420.00 389.45 409.93 0.00 10

KOHP 3.50 4.25 4.00 3.50 0.00 10

LATM 8.38 7.38 7.38 8.38 0.00 10

MFFL 68.79 72.00 72.00 68.79 0.00 10

NATF 55.50 57.80 57.80 55.50 0.00 10

SHDT 13.81 14.80 14.80 13.81 0.00 10

BROT 0.35 0.30 0.13 0.35 0.00 7

GATI 45.42 47.00 47.00 45.42 0.00 6

PECO 136.38 141.95 129.71 136.38 0.00 6

FFLM 1.22 1.69 1.69 1.22 0.00 5

HUSS 11.43 11.96 11.96 11.43 0.00 5

MODAM 1.27 1.74 1.74 1.27 0.00 5

PAKMI 0.90 1.08 1.08 0.90 0.00 5

BUXL 8.41 9.00 7.52 8.41 0.00 4

CLOV 56.41 58.85 58.85 56.41 0.00 4

CWSM 1.50 1.65 0.77 1.50 0.00 4

WYETH 980.59 1025.00 932.19 980.59 0.00 4

BAPL 7.21 7.74 7.74 7.21 0.00 3

GRYL 3.25 3.50 2.25 3.25 0.00 3

GVGL 23.50 22.33 22.33 23.50 0.00 3

SFL 102.87 108.00 108.00 102.87 0.00 3

ATFF 6.05 6.97 6.96 6.05 0.00 2

CSUML 2.93 3.40 2.60 2.93 0.00 2

EWLA 1.95 2.15 2.00 1.95 0.00 2

FPJM 1.26 1.43 1.42 1.26 0.00 2

HAJT 0.30 0.74 0.32 0.30 0.00 2

HUSI 5.51 6.39 6.39 5.51 0.00 2

KASBM 2.95 2.05 2.05 2.95 0.00 2

PMI 1.00 1.05 1.05 1.00 0.00 2

PMRS 39.79 41.77 39.00 39.79 0.00 2

SHSML 8.10 8.90 8.89 8.10 0.00 2

BAFS 58.00 59.00 59.00 58.00 0.00 1

BILF 0.95 1.47 1.47 0.95 0.00 1

CLCPS 2.95 2.97 2.97 2.95 0.00 1

CRTM 15.25 16.00 16.00 15.25 0.00 1

FDMF 2.09 2.06 2.06 2.09 0.00 1

FTSM 1.20 2.20 2.20 1.20 0.00 1

GRAYS 47.82 49.45 49.45 47.82 0.00 1

JDMT 13.94 14.94 14.53 14.53 0.59 1

JOPP 11.54 10.75 10.75 11.54 0.00 1

KSTM 0.95 0.88 0.88 0.95 0.00 1

LAKST 242.14 253.00 253.00 242.14 0.00 1

MEHT 57.88 55.05 55.05 57.88 0.00 1

SGML 5.23 5.70 5.70 5.23 0.00 1

SHJS 65.56 68.00 68.00 65.56 0.00 1

TICL 59.20 56.50 56.50 59.20 0.00 1


FUTURE CONTRACTS

DGKC-MAR 22.74 23.64 23.00 23.51 0.77 4624500

LUCK-MAR 61.83 63.20 61.50 63.05 1.22 1892500

NBP-MAR 68.58 72.00 68.80 71.60 3.02 1188000

ENGRO-MAR 173.87 179.90 172.95 178.89 5.02 1031500

POL-MAR 291.35 305.91 294.00 305.45 14.10 997500

ANL-MAR 8.88 8.99 8.50 8.68 -0.20 924500

FFBL-MAR 37.39 38.60 37.30 38.41 1.02 600000

NML-MAR 61.20 63.40 60.51 63.04 1.84 571000

FFC-MAR 114.79 119.37 115.00 118.73 3.94 408500

MCB-MAR 183.07 192.22 183.51 191.99 8.92 226500

PPL-MAR 197.24 206.80 198.50 205.71 8.47 216500

PSO-MAR 275.58 285.00 279.60 284.01 8.43 171500

UBL-MAR 59.36 62.30 60.00 62.00 2.64 167500

BOP-MAR 7.16 7.60 7.15 7.50 0.34 104000

NCL-MAR 24.33 24.50 23.25 24.42 0.09 82500

OGDC-MAR 144.94 150.00 145.35 149.46 4.52 81500

HUBC-MAR 39.24 38.90 37.31 38.67 -0.57 75000

AICL-MAR 74.93 78.00 74.90 77.92 2.99 50500

NETSOL-MAR 21.44 22.50 21.40 22.48 1.04 8000

PTC-MAR 17.60 18.18 18.15 18.15 0.55 5000

ABL-CMAY 66.83 0.00 0.00 69.43 2.60 0.00

AICL-CAPR 76.63 0.00 0.00 79.25 2.62 0.00

AICL-CFEBW574.65 0.00 0.00 77.21 2.56 0.00

AICL-CMAR 75.39 0.00 0.00 77.97 2.58 0.00


ZERO VOLUME

ILTM 140.68 147.71 147.71 147.71 7.03 0.00

SASML 8.45 8.40 8.40 8.40 -0.05 0.00

UDPL 13.74 13.31 13.31 13.31 -0.42 0.00


Al-Abbas Cement 35.24 2.40 2.25 2.70 2.85 2.55

Allied Bank Limited 45.46 64.85 63.00 67.75 68.80 65.90

Attock Cement 31.13 49.30 47.65 51.80 52.65 50.15

Arif Habib Corp 33.08 19.95 19.25 21.05 21.45 20.35

Arif Habib Limited 23.11 18.55 17.95 19.50 19.85 18.90

Adamjee Insurance 34.06 74.90 72.70 78.55 80.05 76.40

Askari Bank 36.41 13.55 12.95 14.50 14.85 13.90

Azgard Nine 33.83 8.40 8.20 8.85 9.10 8.65

Attock Petroleum 46.11 346.25 337.25 360.60 366.00 351.65

Attock Refinery 39.52 106.20 103.80 109.85 111.05 107.40

Bank Al-Falah 37.11 9.20 8.75 10.05 10.40 9.55

BankIslami Pak 43.44 3.35 3.25 3.55 3.65 3.45

Bank.Of.Punjab 40.69 7.15 6.90 7.65 7.90 7.40

Dewan Cement 45.10 1.65 1.45 1.95 2.10 1.80

D.G.K.Cement 33.34 22.95 22.30 24.00 24.35 23.30

Dewan Salman 45.02 2.50 2.35 2.80 2.95 2.65

Dost Steels Ltd 36.11 1.90 1.70 2.15 2.30 2.00

EFU General Insurance 24.43 33.30 32.70 34.70 35.50 34.10

EFU Life Assurance 25.49 52.65 51.85 54.15 54.85 53.35

Engro Chemical 53.34 209.35 204.30 217.70 221.05 212.65

Faysal Bank 32.15 11.25 10.65 12.10 12.45 11.55

Fauji Cement 29.07 4.05 3.95 4.30 4.40 4.15

Fauji Fert Bin 57.96 40.60 39.85 41.75 42.20 41.05

Fauji Fertilizer 33.19 116.00 113.50 120.00 121.50 117.50

Habib Bank Ltd 51.55 120.10 118.05 124.10 126.05 122.05

Hub Power 53.85 37.80 36.95 39.35 40.05 38.50

ICI Pakistan 61.05 149.50 144.50 157.00 159.55 152.00

Indus Motors 19.12 225.30 216.65 241.30 248.65 232.65

J.O.V.and CO 40.61 3.00 2.80 3.30 3.40 3.10

Japan Power 43.86 1.40 1.30 1.50 1.55 1.45

JS Bank Ltd 66.65 2.85 2.70 3.10 3.20 2.95

Jah Siddiq Co 44.21 8.95 8.70 9.40 9.60 9.15

Kot Addu Power 56.26 43.05 42.40 44.05 44.40 43.40

K.E.S.C 43.12 2.50 2.40 2.65 2.70 2.55

Lotte Pakistan 52.19 14.90 14.30 15.85 16.15 15.20

Lucky Cement 34.55 61.80 60.25 64.20 65.05 62.65

MCB Bank Ltd 45.80 206.50 200.20 216.10 219.40 209.80

Maple Leaf Cement 29.35 2.15 2.05 2.30 2.35 2.20

National Bank 44.27 69.40 67.20 72.70 73.80 70.50

Nishat (Chunian) 48.41 23.55 22.60 25.25 26.05 24.30

Netsol Technologies 46.55 21.60 20.90 22.60 22.95 21.95

NIB Bank 45.88 2.45 2.35 2.70 2.75 2.55

Nimir Ind.Chemical 57.64 2.40 2.25 2.70 2.80 2.55

Nishat Mills 48.24 61.10 59.50 63.70 64.70 62.10

Oil & Gas Dev. XD 27.29 146.10 142.75 151.70 153.95 148.35

PACE (Pakistan) Ltd. 42.50 2.60 2.50 2.75 2.85 2.70

Pervez Ahmed Sec 56.11 1.80 1.55 2.20 2.35 1.95

P.I.A.C.(A) 47.88 2.40 2.30 2.65 2.80 2.55

Pioneer Cement 31.00 5.45 5.40 5.65 5.75 5.55

Pak Oilfields 47.62 298.05 289.75 310.75 315.25 302.50

Pak Petroleum 54.16 204.80 199.15 213.30 216.15 207.65

Pak Suzuki 50.64 63.15 61.25 66.30 67.50 64.40

P.S.O. XD 53.57 282.90 279.00 289.35 291.90 285.45

P.T.C.L.A 39.94 17.75 17.50 18.15 18.30 17.90

Shell Pakistan 43.01 198.55 196.25 202.55 204.30 200.30

Sui North Gas 18.09 19.55 19.30 20.25 20.65 19.95

Sitara Peroxide 46.95 12.65 12.30 13.25 13.50 12.90

Sui South Gas 55.71 24.70 24.35 25.40 25.75 25.05

Telecard 49.56 1.85 1.70 2.15 2.30 2.00

TRG Pakistan 34.04 2.55 2.40 2.70 2.80 2.60

United Bank Ltd 47.23 60.70 58.80 63.55 64.50 61.65

WorldCall Tele 46.93 2.40 2.25 2.55 2.60 2.45

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Dandot Cement Co Ltd 02-Mar 3:30

Silkbank Ltd 02-Mar 2:00

Atlas Insurance Ltd 02-Mar 11:00

Bank Alfalah Ltd 02-Mar 5:00

Shell Pakistan Ltd 03-Mar 10:00

Standard Chartered Bank 03-Mar 3:00

The Bank Of Khyber 03-Mar 11:30

Bank Alfalah Ltd 03-Mar 6:00

Pak Suzuki Motor Co Ltd 04-Mar 3:30

Karim Cotton Mills Ltd 04-Mar 10:30

JS Bank Ltd 05-Mar 11:30

Bankislami Pak Ltd 07-Mar 4:00

AMZ Ventures Ltd 07-Mar 4:00

Glaxosmithkline Pak Ltd 07-Mar 11:00

BOARD MEETINGS

Company Date Time

Wednesday, March 2, 2010 8

ISLAMABAD: Dr MianHafeez Ullah has completedhis HEC funded Post-Doctoral Fellowship at theDepartment of Agricultureand Food Western Australia(DAFWA) under the supervi-sion of Dr Ravjit Khangura, awell-known Plant Pathologistfor her research on the dis-eases of oilseed crops inAustralia.

Hafeez, who earned his PhDin Plant Pathology from theUniversity of Agriculture,Faisalabad, has an experienceof over 20 years as an agricul-tural officer in the PunjabDepartment of Agriculture,says a press release.

Oilseed crops are producedon a limited scale in Pakistan,even insufficient to meet thedomestic demands. The coun-try faces an acute shortage ofthe vegetable oils and isreliant on the imports fromother countries. Dr. Hafeezhas specialized in the patholo-gy of oilseed crops so that he

could contribute to develop-ing solutions for this problem.He continued his research onthe same line during his fel-lowship in Australia. Duringhis Post-Doctoral research, heworked as a team member ofthe trans-disciplinary researchgroup and learned severalnew techniques that he wishesto apply in his future career.

"Western Australia (WA)was the right choice to gainhands-on-experience in deal-ing with the disease problemsof canola such as blackleg andSclerotinia stem rot. Thefarmers there are orientedtowards the sustainable cropproduction systems in order tocombat future challenges ofclimate change and recurringdroughts. In broad terms, Ilearned a lot about the farmingpractices followed by canolagrowers in WA. Now I amlooking forward to promotingGM-canola in Pakistan tomeet the increasing demand ofthe fast growing population of

the country. It is my dream toreplicate this model of prob-lem-solving research in col-laboration with the industry inPakistan," said Dr Hafeez.

He added, "All this was notpossible without the generousfunding from HEC. I stronglyurge Higher EducationCommission to continue thisscheme of Post-DoctoralFellowship for the future gen-eration."

Dr Hafeez has joined hisparent organisation inPakistan. He has developed astrong linkage with the acade-mia and researchers ofAustralia during his one yearstay in Perth. He wishes toexploit the peer-networkingfor the future research andextension programmesbetween Pakistan andAustralia. He was also invitedtwice to the CommunityRadio of Perth, WesternAustralia, for his talks on thefuture scenarios of agriculturein Pakistan.-NNI

From Australiawith excellence

HEC scholar returns with a wealth of knowledge

TFD Report

KARACHI: Results from theACCA (Association ofChartered CertifiedAccountants) examinations inDecember reveal that a record205,000 individuals sat papers,with more than 6,000 taking amajor step towards member-ship of the global body forprofessional accountants.

Candidates around theworld took more than397,000 papers, with 6,420students successfully com-pleting their final ACCAexams and a further 2,926students completing theCertified AccountingTechnician (CAT) exams,says a press release.

Arif Masud Mirza, Head ofACCA Pakistan, said: "Weare delighted to see studentssuccessfully completing theirexaminations and demon-strating those skills demand-ed by employers in thesechallenging times. ACCA iscommitted to developing pro-fessional accountants whocan create value within busi-ness - and this is a good time

to be qualifying as an ACCAmember. Recent research byACCA shows that CEOsexpect demand for financespecialists to rise, with morethan 70% seeing a need formore specialised financeroles in the future. The skillsat the top of the CEO's wish-lists - financial analysis forbusiness decision making;risk management/internalcontrol and budgeting andfinancial forecasting - are allfundamental elements of theACCA Qualification."

"We congratulate the stu-dents who have now complet-ed their ACCA exams and welook forward to welcomingthem to ACCA membership oncompletion of their practicalexperience requirements andprofessional ethics module.We would also like to congrat-ulate those who completed theCAT exams," he added.

Meanwhile ACCA hasannounced that SimpsonScholarship winners will beannounced by June 30, 2011,said a press release.

This scholarship rewardstalented ACCA students who

prove sufficient merit anddistinction in the ACCAexams.

This scholarship will fundthe exam and registration feesof five students for a periodof five years or until theybecome members- whicheverhappens first.

Miss Muriel SimpsonFCCA died on 22 December1977 and, in her Will, left herresiduary estate to ACCA tofund a scholarship to becalled the 'SimpsonScholarship'.

As an added bonus, ACCA'sofficial publisher -BPPLearning Media - have agreedto provide the Scholarshipwinners with a set of learningmaterials for each ACCApaper they are studying.

In order to be eligible forthe scholarship, students musthave completed theKnowledge module of theFundamentals Level and meetother eligibility criteria. Theyare also required to submit a1,000 word essay. Studentswill have until 30 April 2011to submit their Scholarshipapplications. -Agencies

ACCA examineesup at all-time high

Simpson Scholarship winners by June 30

A-levelersat DPS doa lot good

to the needyKARACHI: Students ofDawood Public School's A-level section who are registeredon the FESF (Family EducationServices Foundation), MOVEprogramme took their first stepby organising a bake-sale tocollect funds for disabled andunderprivileged children underthe care of Family EducationServices Foundation (FESF).

Students setup different kindof stalls at the school premisesto generate funds for the noblecause. A-level students willmake gift packs for the specialchildren from the collectedamount and handover to FESF.

A DPS official said that ourstudents would continue to sup-port Family Education ServicesFoundation as a part of our pol-icy to help the organisationsworking for the underprivi-leged segments of the society inorder to create social balanceand a vibrant society.

Family Education ServicesFoundation is a non-profit, edu-cational organisation estab-lished in Pakistan in 1984. Itsmission is to enhance the quali-ty of life for all members of thecommunity, especially thosewho are disadvantaged.

KARACHI: According to ahandout issued hereKhushhalibank sponsored theIBA Verve 2011 whichrecently took place at a localhotel in Karachi.

The intent of the IBA Verve2011 was to acknowledge thecontributions being made byyoung entrepreneurs in vari-ous sectors which prove to bevital building blocks for asuccessful economy.Acknowledging the contribu-tions of the entrepreneurs,Khushhalibank the premiermicrofinance institution ofthe country, was the exclusivepartner for IBA Verve 2011.Organised annually by IBAEntrepreneurship Society(IBAES) and Center forE n t r e p r e n e u r i a lDevelopment, this annualsummit was attended byyoung aspiring entrepreneurs,students and renowned busi-nesspersons from across the

country.IBA Verve 2011 provides a

networking platform to youngentrepreneurs to connect andhave a rapport with influen-tial business leaders fromacross the country. The storytelling sessions were highlymotivational and gave theyoung entrepreneurs insightinto the mechanics of settingup successful businesses andthe ups and downs of operat-ing different ventures.Prominent and establishedpersons from the businesssector like Arif Habib(Chairman & ChiefExecutive, Arif HabibCorporation Limited), IqbalEbrahim (CEO, Orient textileMills & formerly associatedwith Al-Karam Textile Mills),Sheikh M Ghayassudin(Chairman, Shahi Group) andmany other prominent andsuccessful business leadersshared their personal success

stories and how they tackleddifferent scenarios in theirrespective businesses.

Speaking on the exclusivepartnership with IBAEntrepreneurship Society(IBAES), Ghalib Nishtar,President of Khushhalibank,stated, "It's important toencourage the entrepreneurialspirit in the next generation ofbusiness leaders of our coun-try and IBA Verve 2011 is anideal platform to promotethem". He further stated, "Weat Khushhalibank are delight-ed to be partners in thisimportant summit as theseyoung business students holdthe key to a stable Pakistan.As is evident, there is onecommon thread that binds theestablished and aspiringentrepreneurs together, andthat is the desire to make adifference and the commit-ment to excel and buildworld-class organisations."

Khushhalibank inon ‘IBAVerve 2011’ RAWALPINDI: Baharia

Foundation Colleges are play-ing an important role for thepromotion of quality educationto the students and these insti-tutions will be transformed intocenters for excellence in thecountry.

This was stated by ManagingDirector (MD) BahariaFoundation, Vice Admiral(Retd) Mahmood Ahmad Khanwhile addressing the partici-pants of Science and Arts exhi-bition, poster competition andannual prize distribution cere-mony of Baharia FoundationCollege Satellite Town here atRawalpindi Art Council.

Principal of the CollegeSyeda Arifa Mohsin, teachers,students and parents attendedthe function.

Vice Admiral (Retd)Mahmood Ahmed Khan saidthat BF was committed to pro-viding state of the art educa-tional facilities to the studentsin order to produce talentedand useful students by impart-ing quality education for the

socio-economic prosperity ofthe country.

He appreciated the innova-tive ideas and themes like con-servation of water, environ-mental protection and art mod-els displayed by the students ofthe institution during the sci-ence and arts exhibition.

He also lauded the efforts ofthe principal and teachers ofthe institution for providingquality and knowledge basededucation to the students.

Managing Director BahariaFoundation, earlier visitedScience and Arts exhibitionand poster competition exhibit-ed by the students of BahariaFoundation College and tookkeen interest in them.

Later, he distributed prizesand shields among the out-standing students.

He also awarded shields tothe teachers for their excellentperformance in promotingquality education and produc-ing excellent results in variousexaminations and competi-tions.-PR

Vow to better allBaharia colleges

ISLAMABAD: Allama IqbalOpen University (AIOU) hasannounced an essay writingcompetition on the topic'Pakistan-China Friendship:Past, Present and Future' andlast date for submission isMarch 5.

The contest is beingarranged as Ministry ofEducation has declared theyear 2011 as friendship year ofPakistan and China.

Director, Students Advisoryand Counseling ServicesAIOU, Zia-ul-Husnain Naqvi

said that all students of theuniversity from all over thecountry can participate.

He said the participantsshould attempt only in onelanguage either in Urdu orEnglish language with a totalof maximum 1500 words andadvised the students to submittwo copies of essay one a hardcopy typed on A4 size paperwith 12 font size, Times NewRoman style spacing of 1.0while the other through emailon [email protected]

AIOU up to testpupil penpower

ISLAMABAD: HigherEducation Commission (HEC)scholar Qaiser Hussain, haswon the Excellent ResearchAward (2010-11) and a cashprize for evaluation of micro-bial mechanism controlling thegreenhouse gases.

He was awarded at annualreport meeting of Low-CarbonAgriculture and ClimateChange Research, held inNanjing, China.

Qaiser is pursuing PhD stud-ies in Soil EnvironmentalMicrobiology at Institute ofResources, Ecosystem andEnvironment, NanjingAgricultural University, China,said a press release issued here.

Hussain is studying underHEC Overseas Scholarship forMS/MPhil leading to PhD inSelected Fields (Phase-II).

His research findings regard-ing screening of high-yieldingrice variety in terms of micro-bial control could be economi-cally feasible, environmentally

sound and promising strategyto mitigate N2O and CH4emissions from the rice fieldsin Asian countries.

It is worth mentioning thatHussain has been offered atravel grant by his Institute topresent this research work atany international scientificforum in the world.

"This award has really boost-ed my confidence and I willutilise my knowledge and skillsin the best interest of mybeloved country. I am thankfulto my supervisor, my familyand friends for their encourage-ment and motivation. It wouldnot be possible to achieve thissuccess without the constantsupport of HEC", said Hussain.

After completion of PhD, heintends to join academia in thefield of EnvironmentalMicrobiology andBiotechnology to train moremanpower in the same fieldand to produce quality educa-tion and research.-APP

Scientist shinesPakistan's name

AKHSSmerit

citationevent held

KARACHI: A Merit CitationCeremony for the graduatingclass of 2010 was organised bythe Aga Khan HigherSecondary School, Karachi(AKHSSK), which is a unit ofthe Aga Khan EducationService, Pakistan (AKESP).

Dr Ishrat Husain, Dean andDirector of the Institute ofBusiness Administration (IBA),was the chief guest at the event.

A large gathering of officialsfrom the Board of IntermediateEducation, Karachi (BIEK), theAga Khan University-Examination Board (AKU-EB)and AKESP along with thegraduating students and theirparents attended the ceremony.

The guests were welcomedby Shahina Ali Raza, Principalof AKHSSK who shared adetailed report on the schoolinitiatives and achievements.Dr Sadrudin Pardhan, Head ofOperations AKESP, highlightedthe importance laid down byAga Khan Schools on instillingethical values in students, inaddition to providing them witha strong academic foundationfor higher education. He said,"In a country like ours wherepeople belong to a multitude ofbackgrounds, respecting plural-ism and making the most of it isvery important. Therefore, edu-cation of ethics and pluralismform a formal part of the AKESsystem's curricula."

Dr Ishrat Husain appreciatedthe achievements of the stu-dents, not only in the boardexaminations, but also theirexcellence in sports and accom-plishments in various scienceand technology exhibitionsnationally and internationally.

Awards were then distributedamongst students who had beenhigh achievers in the field ofAcademics, Co-curricularActivities and Sports. -PR

BSEKto essay

an all newexam systemKARACHI: The Board ofSecondary Education Karachi(BSEK) will conduct a mockexamination in the third weekof March.

A decision to this effect wastaken at a high-level meeting onthe examinations system at theGovernor House here.

Governor Sindh Dr Ishrat-ul-Ebad Khan, who is the control-ling authority of the educationboards in the province, presidedover the meeting.

An official said that thiswould be a one-day exercisefor the 9th class and was aimedat making the examination sys-tem effective, simple andtransparent.

A committee, consisting ofthe principal secretary to thegovernor, Mumtaz ur Rehman,Chairman BIEK Prof AnwarAhmed Zai, Chairman SindhTechnical Board SaeedSiddiqui, and Chairman BSEK,Anzar Hussain Zaidi, presentedits report on the occasion.

The meeting decided toreduce the number of examina-tion centres for the 9th and 10thclass annual examinations ofthe BSEK from 436 to 170. Thenumber of invigilators wouldbe based on the average of thecandidates rather than theexamination centres. The gov-ernor said that in view of thesuccess of the experiment, itshould be replicated andexpanded province-wide.-APP

HYDERABAD: Chairman Karachi Education Board Anwar Ahmed and Abdul Qadir Mangi

give away shield and cash prize to position holder student of Intermediate from

Hyderabad Board during prize distribution ceremony.-Online

Hoti ordersDir schoolsupgradation

DIR Lower: Chief MinisterKhyber Pakhtunkhwa AmeerHaidar Khan Hoti has issueddirectives for provision of staffto Government schools in DirUpper District.

The CM directs for provisionof staff to High School HayagaiDog Dara Upper Dir. He alsoannounced upgradation ofGovernment Primary SchoolKelat and Government PrimarySchool Shatbala Upper Dir tomiddle level and establishmentof community health centers intwo villages of Dog Dara dis-trict Upper Dir.

The chief minister directedconcerned departments forensuring implementation of hisdirectives regarding these peo-ple welfare projects.

The provision of staff to highschool, upgradation of othermentioned schools and estab-lishment of community healthcenters will not only benefitchildren of Dog Dara Upper Dirwith availability of educationfacilities at their doorstep butwill also ensure availability oftreatment facilities to people ofthe area.-APP

SZABISTadds to

floraISLAMABAD: ChancellorShaheed Zulfiqar Ali BhuttoInstitute of Science andTechnology (SZABIST), DrAzra Fazal Pechuho planted asapling to inaugurate the springtree plantation campaign here.

Addressing the students, DrAzra said that this is responsibil-ity of every citizen to contributehis share in plantation to makeenvironment healthy and clean.

Dr Azra said that trees protectus from scorching heat in sum-mer and give us fruits and fuel.She added that trees in forestsdraw the rain from the cloudsfloating in the sky and check thequick flow of rain-water andthereby, reduce chance of highflood in our rivers.

On the other hand, she added,this slow process of water-flowprovide good water throughoutthe year through streams andstreamlets.-APP

NEW YORK: US cottonfutures finished Monday up thedaily limit on speculative andtrade buying as the marketstayed within sight of recordhighs, even though open inter-est slid to its lowest level inseven months.

The key May cotton contracton ICE Futures US rose the7.00-cent limit to finish at$1.9123 per lb, with the day'slow at $1.8721. Last week thecontract hit a record top of$2.1176 per lb.

The cotton market rose near-ly 40 per cent on the month,posting its sixth monthly gainin the last seven months. Butopen interest in the markettumbled to a seven-month lowof 174,935 lots, data from ICE

Futures US showed. Volume traded Monday

though stood about 9,500 lots,some two-thirds below the 30-day norm, Thomson Reuterspreliminary data showed.

Keith Brown, president ofcommodity firm Keith Brownand Co in Moultrie, Georgia,said the open interest newsshould be seen as bullishbecause it meant the markethas washed out investors whohad ridden the bullish wave infiber contracts.

Traders said strongerChinese cotton prices alsoboosted the market.

China's benchmarkZhengzhou cotton futures werelast done at the day's top of32,435 yuan per tonne, up2,125 yuan on the day.

Dong Shuangwei, an analystwith Beijing Capital Futures,said supplies are 'tight' but hebelieves short-term fund buy-ing is responsible for thestrength in cotton prices. -Reuters

US cotton limits up;investor interest sinks


POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1255

January (3rd Wednesday) 1310 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for February 28 2011

LME Official Prices, US$ per tonne for February 28 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2335 2531 9857 2533 28830 32260 2477 2501

Cash seller 2345 2531.5 9857.5 2535 28840 32265 2477.5 2502

3-months buyer 2325 2559 9840 2526 28755 32200 2503.5 2525

3-months seller 2335 2560 9845 2528 28760 32250 2504 2530

15-months buyer 2365 2625 9760 2472 27650 32000 2542 2485

15-months seller 2375 2630 9770 2477 27750 32050 2547 2495

27-months buyer 2365 2665 9415 2425 26385 2543 2430

27-months seller 2375 2670 9425 2430 26485 2548 2440

LONDON METAL EXCHANGE (METALS)

LONDON: Brent crude oilfutures rose above $113 a bar-rel on Tuesday as a jitterymarket jumped higher on areport, soon denied, of Saudiinvolvement in Bahrain. ASaudi Arabian official quicklydismissed a report in anEgyptian newspaper that thekingdom had sent tanks toneighbour Bahrain to try toquell proteststhere.

April Brentfutures wereup $1.99 at$113.79 abarrel by1517 GMT,paring gainsslightly afterrising to intra-day highs of$114.35 a barrel earlier in thesession.

US crude futures were up$1.35 cents at $98.32 a barrel,after touching earlier intra-day highs of $98.77.

Worries about the unrest inthe region drove SaudiArabia's benchmark stockindex to 20-month lows.

"The same political risk isdriving prices -- what is hap-pening in Libya now and,

according to the news on myscreen, there are problems inIran. Those are two very bigsuppliers and we can't takedisruption from both, so thereis the spike in prices," CreditAgricole CIB analystChristophe Barret said.

"The biggest OPEC produc-er is likely to be already pro-ducing more than 9 million

barrels of crude oil a day atpresent," Commerzbank ana-lysts said in a note.

"Saudi Arabia's sparecapacities are thus anothergood 3 million barrels a day.The market is likely to getnervous, at the latest, whenspare capacities drop below 2million barrels a day."

OPEC, and in particularSaudi Arabia's, spare outputcapacity has become a vitalcushion of potential supply

disruption.In Oman, a small oil pro-

ducer, the army fired in theair, wounding one person, asit moved to disperse protest-ers near the northern port ofSohar.

Investors awaited the latestUS weekly crude inventoriesdata from industry groupAmerican Petroleum Institute

at 1630 GMT.E c o n o m i s t s

polled byReuters expectan increase instockpiles for aseventh consecu-tive week onhigher imports.

F e d e r a lReserve Chairman BenBernanke on Tuesday down-played the effect of high oilprices on the US economy butsaid it could lead to weakergrowth and higher inflation ifsustained.

In China, manufacturinggrowth slowed in February toa six-month low, according toan official survey, as the gov-ernment's sustained campaignto tame inflation weighed onindustrial activity. -Reuters

Brent climbs above $113;nerves jangle on supplies

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Tuesday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Mar11986.00+26.00, Apr11/Jun11990.00, Jul11/Sep11 998.00.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul111020.00+5.00, Aug11/Oct11980.00+5.00, Nov11/Jan12988.00+5.00, Feb12/Apr12995.00+5.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1415.00+5.00,Jul11/Sep11 1425.00+10.00,Oct11/Dec11 1380.00-10.00.

LINOIL: Any origin dlrstonne extank RotterdamMar11/Apr11 1555.00+2.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Feb111220.00+15.00, Mar111220.00+15.00, Apr11/Jun111215.00+17.50, Jul11/Sep111190.00+17.50, Oct11/Dec111180.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Mar11 1277.50,Apr11/Jun11 1265.00.

PALMOIL: RBD dlrs tonnefob Malaysia Mar111222.50+12.50, Apr11/Jun111210.00+22.50.

PALM OLEIN: RBD dlrstonne fob Malaysia Mar111230.00+12.50, Apr11/Jun111217.50+22.50, Jul11/Sep111170.00+17.50, Oct11/Dec111157.50+17.50.

PALM STEARIN: Dlrs tonnefob Malaysia Mar111200.00+10.00, Apr111200.00+15.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamFeb11/Mar11 2115.00-45.00,Mar11/Apr11 2090.00-40.00,Apr11/May11 2080.00-40.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

1-Mar-2011 CRUDE100 MA11 US$ Per Barrel 97.55 98.20 96.50 97.82 456 96.93 97.82 113

1-Mar-2011 CRUDE100 AP11 US$ Per Barrel 98.90 99.62 98.40 99.58 33 98.60 99.58 11

1-Mar-2011 CRUDE100 MY11 US$ Per Barrel 100.05 100.44 100.05 100.44 - 99.40 100.44 -

1-Mar-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 33.75 34.43 30.50 34.43 4 33.88 34.43 -

1-Mar-2011 SILVER - SL500 MY11 US$ Per Troy Ounce 33.55 34.45 33.50 34.45 99 33.93 34.45 24

1-Mar-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1415.60 1423.30 1405.20 1422.90 2,780 1412.50 1422.90 1,167

1-Mar-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1416.50 1424.00 1406.00 1423.60 1,877 1413.20 1423.60 1,378

1-Mar-2011 GOLD 01oz JU11 US$ Per Troy Ounce 1417.00 1424.70 1406.80 1424.30 1,202 1414.00 1424.30 476

1-Mar-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1414.00 1423.40 1408.90 1422.90 18 1412.50 1422.90 -

1-Mar-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1414.00 1423.60 - 1423.60 - 1413.20 1423.60 -

1-Mar-2011 GOLD 100oz JU11 US$ Per Troy Ounce 1413.10 1423.60 1409.50 1423.60 14 1414.00 1424.30 4

1-Mar-2011 GOLD MA11 Per 10 grms 38780.00 39251.00 38780.00 39200.00 9 38934.00 39200.00 2

1-Mar-2011 GOLD AP11 Per 10 grms 39010.00 39212.00 39010.00 39212.00 4 38946.00 39212.00 81

1-Mar-2011 GOLD MY11 Per 10 grms 39050.00 39227.00 39050.00 39227.00 - 38961.00 39227.00 -

1-Mar-2011 KILOGOLD MA11 Per 10 grms 39018.00 39173.00 38995.00 39173.00 2 38907.00 39173.00 -

1-Mar-2011 KILOGOLD AP11 Per 10 grms 39007.00 39184.00 39007.00 39184.00 - 38918.00 39184.00 -

1-Mar-2011 TOLAGOLD50 MA11 Per Tola 45483.00 45690.00 45483.00 45690.00 - 45380.00 45690.00 -

1-Mar-2011 TOLAGOLD100 MA11 Per Tola 45483.00 45690.00 45483.00 45690.00 - 45380.00 45690.00 -

1-Mar-2011 MINIGOLD MON Per 10 grms 40123.00 40288.00 40123.00 40288.00 - 40019.00 40288.00 -

1-Mar-2011 MINIGOLD TUE Per 10 grms 40065.00 40332.00 40065.00 40332.00 - 40063.00 40332.00 -

1-Mar-2011 MINIGOLD WED Per 10 grms 40080.00 40245.00 40080.00 40245.00 - 39976.00 40245.00 -

1-Mar-2011 MINIGOLD THU Per 10 grms 40094.00 40259.00 40094.00 40259.00 - 39991.00 40259.00 -

1-Mar-2011 MINIGOLD FRI Per 10 grms 40109.00 40274.00 40109.00 40274.00 - 40005.00 40274.00 -

1-Mar-2011 TOLAGOLD MON Per Tola 46665.00 46665.00 46133.00 46327.00 1 46013.00 46327.00 12

1-Mar-2011 TOLAGOLD TUE Per Tola 46067.00 46377.00 46067.00 46377.00 - 46062.00 46377.00 -

1-Mar-2011 TOLAGOLD WED Per Tola 46554.00 46775.00 46084.00 46277.00 2 45963.00 46277.00 2

1-Mar-2011 TOLAGOLD THU Per Tola 46750.00 46750.00 46100.00 46293.00 1 45980.00 46293.00 1

1-Mar-2011 TOLAGOLD FRI Per Tola 46117.00 46310.00 46117.00 46310.00 - 45996.00 46310.00 1

1-Mar-2011 IRRI6W 03MA11 Per 100 kg 3329.00 3329.00 3327.00 3327.00 - 3329.00 3327.00 -

1-Mar-2011 RICEIRRI - 6 MA11 Per 100 kg 3343.00 3343.00 3342.00 3342.00 - 3343.00 3342.00 -

1-Mar-2011 RBD PALMOLEIN MA11 Per Maund 5228.00 5252.00 5228.00 5252.00 - 5228.00 5252.00 -

1-Mar-2011 KIBOR3M 11-Mar Per Rs. 100 86.25 86.25 86.25 86.25 - 86.25 86.25 -

1-Mar-2011 KIBOR3M 11-Jun Per Rs. 100 85.75 85.78 85.75 85.78 - 85.75 85.78 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Indian sugarflat on subdued

demandMUMBAI: Indian spot sugarprices were stable on Tuesday onsubdued demand and higher-than-expected non-levy sugarquota for the current month.

India has made available 1.684million tonnes of non-levy sugarfor March, including 350,000tonnes of unsold stocks fromFebruary, the government said ina statement on Feb. 25.

"There is not enough demandto push the prices and until thegovernment makes anyannouncement on allowingexports, there will not be muchmovement in sugar prices,"said a dealer based in Vashispot market near Mumbai.

In Kolhapur, a key market intop producing Maharashtrastate, the most traded S-varietywas almost steady at 2,694rupees ($59.8) per 100 kg.

Sugar contract for Marchdelivery on India's NationalCommodity and DerivativesExchange (NCDEX) endeddown 0.28 per cent at 2,801rupees per 100 kg. A decisionby India on whether to allow500,000 tonnes of unrestrictedsugar exports could take anoth-er three weeks as the govern-ment has decided to broadenconsultations to key ministries,government sources said onFeb. 22. -Reuters

GAUHATI - INDIA: An Indian man sprays water at a paddy field in Panikhaitee, about 25 kilo-

meters (15 miles) east of Gauhati, India. -Agencies

LONDON: Copper retreatedfrom two-week highs onTuesday as worries overMiddle East unrest boosted oilprices and ignited inflationconcerns, which encouragedinvestors to sell risky assetssuch as base metals.

Copper closed ring trading at$9,860 a tonne, down from aclose of $9,885 on Monday.The metal used in power andconstruction earlier reached atwo-week high at $9,942 atonne, nearing record peaks of$10,190 a tonne from Feb. 15.

Aluminium fell back from 2-1/2 year highs, while worriesover supplies from the MiddleEast cushioned prices.

Mixed US data may havespurred copper's fall, but thatwas not the dominant factor,said RBS analyst Daniel Major.

"The sell-off is more affiliat-ed with the further tensions thatwe're seeing on Libya and howthat's progressing, which ishaving a negative impact onrisk sensitive commodities likebase metals," he said.

The US manufacturing sectorgrew at its fastest rate sinceMay 2004 in February,although construction spendingfell more than expected inJanuary to its lowest level infive months.

The mixed figures did littleto alleviate overall concernabout growth. Federal ReserveChairmanBen Bernanke saidon Tuesday the recent surge in

oil prices is unlikely to have abig impact on the US economybut could dampen growth andraise inflation if sustained.

Analysts say falling oregrades, lack of investment bymining companies in new

deposits and strong demandmean the copper market couldsee a deficit this year.

The copper market is watch-ing avidly stocks in LME ware-houses for signs of Chinesebuying, which many investorsexpect will propel copper tonew records.

In LME inventory data, cop-per stocks fell by 725 tonnes to420,275 tonnes.

Three-month aluminium fin-ished at $2,610 a tonne, upfrom $2,600 on Monday. It ear-lier hit $2,617.25 a tonne, itshighest since September 2008on fears of supply problems inthe Middle East and NorthAfrica.

Zinc finished at $2,515 atonne from $2,520. Lead endedat $2,555 from $2,562, whiletin fell to $32,200 from$32,320. Nickel closed at$28,775 a tonne from $28,990on Monday. -Reuters

Copper slips from2-wk high as risksentiment sours

EU wheatedges downin thin trade

ROTTERDAM: Europeanwheat prices edge lower in thintrade after high volatility and asharp drop the previous week ledsome cooperatives to panic sell-ing, traders said.

"The market continues to tendits wounds," a futures trader said."Some uncertainty remains,notably on fears of an expansionof the uprising in the Middle Eastand its potential consequences onthe world economy."

By 1658 GMT benchmark Mayon Euronext milling wheat futureswere down 1.00 euro or 0.4 percent at 248.00 euros a tonne.

Last Tuesday the contract hadlost 14.5 euros in one day, and thenext day it dropped as low as226.50 euros -- a fall of more than14 euros again -- before paringlosses. Over the whole week thecontract lost 6.75 euros a tonne.

Traders had linked these wideswings to a pullout of financialoperators of commodities marketsas the Libyan crisis worsened.Traders anticipated more tradeactivity later in the week after aEuropean Central Bank meetingon Thursday, which could affectexchange rates and stock markets.

Activity is also thin on theFrench cash market. Traders notea drop in feed wheat imports dueto a fall in local grain prices.Euronext rapeseed futures arefirm on technical elements withfront-month May up 0.7 per centat 459.50 euros a tonne. Tradersput the resistance at 464-465euros.

Spanish wheat prices post milddeclines to line up with deep loss-es in Paris last week, but traderssay physical volumes wafer-thinas the market awaits direction.

Prompt feed wheat in leadinggrains port Tarragona, a bench-mark in import-dependent Spain,was down 2 euros from a weekago at 248-250 euros/tonne."Trading activity has returned tominimal levels with so much con-fusion. The million-dollar ques-tion is: Are we seeing a change toa downward trend in prices, or isthis just a temporary correction?"said a report from the Mercolleidaagricultural exchange.

"It may be more a case of thelatter than the former, but in anycase, the market may havepeaked." -Reuters

LONDON: Gold hit three-monthhighs on Tuesday as escalatingviolence in Libya and unrestspreading across the Middle Eastboosted the metal's appeal as asafe-haven from risk, while silverhit fresh 31-year peaks.

Gold has rallied strongly sinceuprisings in Tunisia and Egyptunleashed a swathe of popularprotests across the region, send-ing oil prices to 2-1/2-year highsand raising investors' concernabout potential impacts of high

energy prices on growth.Tensions in the region wors-

ened as Libyan leader MuammarGaddafi despatched forces to awestern border area in defiance ofWestern military and economicpressure.

Spot gold rose to a session peakat $1,423.65 an ounce -- its high-est since Dec. 7 when it hit arecord high of $1,430.95.

The metal was up 0.8 per centat $1,421.95 an ounce by 1533GMT from $1,410.85 late in NewYork on Monday.

Bernanke's comments tooksome steam out of gold by sup-porting the dollar, which was flatafter earlier trading lower, as astronger US currency deters non-US investors.

US April gold futures were up

0.9 per cent at $1,422.7. Bullion rose 6 per cent in

February, its largest monthly risesince August, when the USFederal Reserve first indicatedeconomic growth was feebleenough to warrant a resumptionin purchases of governmentbonds.

In a reflection of investor ambi-guity on gold, holdings of themetal dropped in the SPDR GoldTrust, the world's largest gold-back exchange-traded fund.

Holdings fell for a fifth consec-utive month in February, markingtheir worst string of declinessince the creation of the fund in2004. The Australian Bureau ofAgricultural and ResourceEconomics and Sciences(ABARES) said gold pricescould drop 20 per cent later thisyear and in 2012 as the globaleconomy picks up and specula-tors exit the market.

Silver hit fresh 31-year highs at$34.47 an ounce, later trading at$34.31. Silver has risen about 11per cent this year, shrugging offthe prospect of rising supply asindustrial demand improves.

Platinum was up 1.1 per cent at$1,825.5 an ounce, while palladi-um was up 1.4 per cent at$805.58 an ounce. -Reuters

Gold at 3-mth highs asMEast violence worsens

KUALA LUMPUR:Malaysian palm oil futuresjumped as much as 2.6 per centon Tuesday as traders focusedon buoyant crude markets set-ting the stage for growingbiodiesel demand.

Although palm oil is lesslikely to be channelled intobiofuels due to lack of govern-ment subsidies, aggressivemandates in Brazil and theUnited States may see moresoyoil taken up, which leavespalm oil to dominate the foodsector.

"Funds might be coming in.There is a lot of energy relatedbuying going on in palm oiland other vegetable oil mar-kets," said a trader with a for-eign commodities brokerage.

The benchmark May crudepalm oil contract on BursaMalaysia Derivatives rose asmuch as 90 ringgit to 3,562ringgit ($1,167.677) beforesettling at 3,546 ringgit.

Overall volumes shot up to24,896 lots at 25 tonnes eachfrom the usual 15,000 lots trad-ed. Reuters technical analyst

Wang Tao said palm oil isexpected to develop a secondrebound towards 3,702 ringgitper tonne based on its wavepattern.

Other vegetable oil marketswere mixed. US soyoil forMarch delivery extended loss-es during Asian hours as theoutlook for bumper productionin South America continues topressure prices. But the mostactive September soyoil con-tract on China's DalianCommodity Exchange edgedhigher. -Reuters

Palm oil jumps asbiodiesel appeal grows

Tokyo rubber

up 2.3pc on

firmer oilBANGKOK: Tokyo rubberfutures rose 2.3 per cent to neara one-week high on Tuesday onstrong oil prices and a recoverystock markets, but concerns ofunrest in Libya added down-ward pressure, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for August deliveryrose 10.7 yen to settle at 477.1yen ($5.84) per kg. It rose ashigh as 484.1 yen per kg, thehighest since Feb 24.

The most active Shanghairubber contract for May deliv-ery also rose 50 yuan to settle at39,365 yuan ($5,990) pertonne.

TOCOM rubber were expect-ed to rise further to test the nextresistance of 480 yen per kg onWednesday after prices fin-ished above a key psychologi-cal support level of 475 yen perkg, dealers said. -Reuters

World Bank says strong oil prices will not derail recovery

Shanghai copper falls

Three-month copper on the

London Metal Exchange fell

$67 to $9,818 a tonne by

0700 GMT. Shanghai's most

active copper contract lost

0.4 per cent to 74,000 yuan.


Belgium's Davis Cup team Steve Darcis, RubenBemelmans address a news conference in Charleroi

Wozniackiholds topranking

PARIS: Denmark's CarolineWozniacki remained on top ofthe latest WTA rankingreleased on Monday as theleading ten all held their spots.

Russia's Vera Zvonarevaremains third but opened up acomfortable cushion on thepursuing pack thanks to herdefeat of Wozniacki in theDoha final.

Nadia Petrova returns to thetop 20 at the expense of herfellow Russian, AlisaKleybanova. 1. Caroline Wozniacki (DEN)9550 points 2. Kim Clijsters (BEL) 8835 3. Vera Zvonareva (RUS) 7565 4. Samantha Stosur (AUS)5086 5. Francesca Schiavone (ITA)5051 6. Jelena Jankovic (SRB) 4825 7. Li Na (CHN) 4300 8. Venus Williams (USA) 3465 9. Victoria Azarenka (BLR)3440 10. Agnieszka Radwanska(POL) 3170.-Agencies

ISLAMABAD: Pakistan cap-tain Shahid Afridi, who turned31 on Tuesday underlined theneed to maintain the high spir-it and winning consistency inperformance.

According to sports24.co.zaAfridi called upon his teammates to take every match seri-ously especially against a teamwith which we are not familiar.

"We need to keep themomentum going in theCanada match because we stillhave a long way to go in thetournament," Afridi said.

Afridi said the team was inhigh spirits after beating SriLanka.

"We must show consistencybecause we are not known forthat," said Afridi.

"We had a very good winagainst Sri Lanka, so we wantto keep the momentum going.

We should not be negativeabout anything and must makewinning a habit.

"We have to take everymatch seriously, more soagainst a team who we don'tknow," sport24.co.za quotedAfridi as saying.

Left-arm spinner AbdurRehman will sit out theCanada match after suffering amuscle injury against SriLanka, and is likely to bereplaced by off-spinner SaeedAjmal.

In-form batsman Misbah-ul-Haq, who scored 65 and anunbeaten 83 in the first twomatches, is likely to be restedafter suffering a minor ham-string problem. Asad Shafiq isexpected to fill his place.

However Canada captainAshish Bagai said he wasdeeply unhappy with his

team's performances in thefirst two matches.

"Definitely we are very verydisappointed," said Bagai,after a 210-run loss against SriLanka and a 175-run maulingagainst Zimbabwe.

"We had planned very wellfor the game againstZimbabwe, but we were not upto it."

"We need to come back.Somehow it's us as a battingunit that's failing, that's themost disappointing part. It'sour own mistakes which aregoing on again and again, sowe have no choice other thanto figure out what's going on.

"It may be a lack of belief atthe top order, that's somethingfor us to get sorted out veryquickly otherwise we will bein trouble against Pakistan,"said Bagai.-APP

Have to keep theball rolling: Afridi

COLOMBO: Lasith Malingaturned into a one-man hitsquad as he became the firstman to pick up two World Cuphat-tricks to lead Sri Lanka toa crushing nine-wicket victoryover Kenya Tuesday.

Malinga, who missed hisside's opening two matcheswith a sore back, fired backwith the wickets of TanmayMishra (0), Peter Ongondo (0)and Shem Ngoche (0) with

successive, full deliveries, thelatter two clean bowled.

After finishing with a careerbest six for 38 to dismiss theAfricans for 142, a relaxedMalinga sat back in the pavil-ion and watched his teammates chase down the score injust 18.4 overs.

In 2007, Malinga grabbedfour in a row against SouthAfrica.

It is the second hat-trick in

two days at the World Cupafter Kemar Roach took thelast three Dutch wickets inWest Indies' 215-run victory inGroup B Monday.

Kenya crumbled from arespectable 102-2 to 142 allout in 43.4 overs after choos-ing to bat first, with the Obuyabrothers the only batsmen toreach double figures.

A 94-run partnershipbetween Collins Obuya (52 off

100 balls) and his elder siblingDavid (51 off 106 balls) raisedhopes that Kenya might crossthe 200-run mark but Malingaturned into a one-man hit-squad.

He got rid of Collins with atoe crushing yorker in the32nd over before returning forhis final spell to flatten theKenyans with breathtakingpace as he bagged four wick-ets in five legal balls.-Reuters

World Cup Group A Match, Sri Lanka vs Kenya

Malinga swings a second WC hat-trick against loser Kenya

SL fry minnows for lunch

KARACHI: Tainted formertest captain Salman Butt said hewould be attending the hearingof the criminal charges broughtagainst him and his twoPakistani teammates,Mohammad Asif andMohammad Amir in London onMarch 17.

Butt said in a statement that itwas his intention to attend thehearing at the city ofWestminster Magistrates courton March 17th.

"My lawyer, Yasin Patel hasadvised me at this stage to makeno further comments on thecase due to the pending pro-ceedings," Butt said in the state-ment.

The Scotland Yard and Crown

prosecution office of the UnitedKingdom have charged thethree banned Pakistani playersof accepting bribes and trying todefraud after an initial inquirythat has lasted for some fivemonths by the Scotland Yard.

Butt also made it clear that hehad exercised his right to appealto the Court of Arbitration forSport (CAS), with regards to theten year ban (5 years suspend-ed) handed to him by an ICCanti-corruption tribunal com-mittee.

Butt was suspended for 10-years by the ICC tribunal onFebruary 5 after being foundguilty of spot-fixing stemmingfrom the Lord`s Test againstEngland last year.-Reuters

Salman to attendhearing in London

DHAKA: MohammadAshraful thought he hadplayed his last innings in theWorld Cup before his part-timebowling gave him a new leaseof life during Bangladesh'sGroup B must-win gameagainst Ireland.

Former skipper Ashraful,who was not selected forBangladesh's opening matchagainst India, was out for onerun playing a suicidal sweepshot in an important stage ofthe innings, which put hisfuture in doubt.

As he trudged back to thepavilion, the 26-year-oldfeared that pens were alreadybeing sharpened to write his

one-day international obituary.His two wickets for 42 runs

not only gave him the hope ofreviving his one-day career butalso helped Bangladesh winthe game by 27 runs.

"It was a very painfulmoment for me when I gotout," Ashraful said in an inter-view on Monday as he reflect-ed on the dramatic game threedays earlier.

"I thought maybe I playedmy last innings in this WorldCup. I was really very disap-pointed."

"But when I started warmingup for fielding, our fieldingcoach and trainer cheered meup."-Reuters

Part time bowlingrescues Ashraful

Jayawardenetakes legaladvice overTV claims

COLOMBO: Sri Lanka bats-man Mahela Jayawardene hastaken legal advice over doubtsraised on a state-run TV channelabout the way he and anotherbatsman performed in the WorldCup defeat by Pakistan.

Sri Lanka, who are one of thefavourites to win the tourna-ment, lost Saturday's Pakistangame by 11 runs asJayawardene and ThilanSamaraweera were out for justtwo runs and one run respec-tively when the team was tryingto accelerate the run rate againstthe powerful Pakistan bowling.

State-owned IndependentTelevision Network (ITN) in ananalytical documentary aired onSunday criticised several SriLankan players includingJayawardene and Samaraweerafor their poor performance.

Jayawardene when asked aboutthe allegations before the Kenyamatch said he had consulted hislawyers over the matter.

"The lawyers will decide whatproper course of action should betaken," he told Reuters.

ITN also accused a business-man of betting 2 million rupees($18,053) on Pakistan's victorywithout giving any further details.

"We are treating the matter seri-ously," said NishanthaRanatunga, the secretary of SriLanka Cricket.

In a statement, Sri LankaCricket later condemned the pro-gramme for "carrying a story thatis baseless and thereby demoral-ising our players during the ongo-ing World Cup".-Reuters

SA’s Steynsees thesmartest

survivingMOHALI: South Africanspeedster Dale Steyn is con-vinced of the futility of sheerpace on sub-continent'sdocile tracks and predictedonly the "street smart" fastbowlers will thrive at theWorld Cup.

Steyn reckoned pacebowlers would end up beingthe cannon fodder if they justrun hard and send down ballafter ball at whatever pacethey can muster on pitchesthat offer hardly any bounce.

"You got to be street smartI suppose when you bowl inIndia," Steyn told reporterson Tuesday.

"You can't bowl at the samepace at the same place. Guyswill work you out. In my sec-ond over (against the WestIndies), I was cut and then Ichanged from 140 kph to 120kph.

"You got to have betterunderstanding, you have tobe pretty smart," said thebowler who claimed threeWest Indian wickets in theDelhi match.

"In South Africa, you canget away sometimes becauseof the bounce. You may getaway with full wide balls. InIndia, it does not bounce andfinds the middle of the batand goes flying to point orextra cover for four.

"In South Africa it mightfind the edge or may not findthe bat, so you can get awaywith some bad balls."-Reuters

Palestine,Pakistanfootball

bout on 4thLAHORE: PFF announcedTechnical officials of Karachimatch between Pakistan andPalestine. According to PFFMedia Coordinator RasheedKhan, the Karachi Test will beplayed at Mauripur Road'sPeoples Sports Complex onFriday, 4 March (4 PM) withAhmed Ali as MatchCommissioner and AbdulShakoor Baloch as RefereeAssessor.

The four officials who willstep into field to supervise thematch will be Rana NaseerAhmed (Referee), ShahidHussain and Shafaat Habib(ARs) and Rana Jehanzeb Tipu(4th Official).

Naseer Ahmed was also inaction when Lahore staged thelast match of Pak-India Series2005. He was assistant toReferee Asif Bin Younus, withPakistan beating India 3-0 on18 June 2005.

Naseer, born at Sheikhupuraon 1 June 1974, is one ofamong most skilful PakistaniReferees in FIFA list duringlast nine years. He was induct-ed in FIFA list in 2002 asAssistant Referee. He stayeduntil 2005, and was absentfrom list from 2006 to 2009.-Agencies

LiverpoolsufferKellyblow

LONDON: Liverpool defend-er Martin Kelly has been ruledout for a month with a tornhamstring, the Premier Leagueclub said Tuesday.

The 20-year-old, who hasbecome a regular starter sinceKenny Dalglish took over asmanager in January, collapsedclutching his leg after a typicalsurging run in the first half ofSunday's 3-1 defeat to WestHam United.

"Liverpool FC head of sportsmedicine and sports scienceDr Peter Brukner has con-firmed the defender is facingfour weeks on the sidelinesafter assessing the injury atMelwood," the club said in astatement on their website(www.liverpoolfc.tv).

The timing of the injurycomes as a blow to the Redswho face Manchester Unitedin the Premier League Sundaybefore a two-legged EuropaLeague last-16 clash againstBraga.-Reuters

COLOMBO: Sri Lankan batsman Kumar Sangakkaraplays a shot during the ICC Cricket World Cupmatch between Sri Lanka and Kenya.-Reuters

Players Mat Runs HS Ave SR

Strauss-England 2 246 158 123.00 107.8

Sehwag-India 2 210 175 105.00 126.5

Sangakkara-Sri Lanka 3 168 92 84.00 97.67

Players Mat WKts BBI Ave Econ

Shahid Afridi-Pakistan 2 9 5/16 5.55 2.77

Mitchell Johnson-Australia 2 8 4/19 6.50 2.81

Kemar Roach-West Indies 2 7 6/27 9.85 4.18

RecordboardMost Runs

Most Wickets

WIndiansdrop Bravo,Samuels innext match

NEW DELHI: West Indiesapproached Marlon Samuels,who served a two-year ban forlinks with an Indian bookmak-er, to replace injured DwayneBravo in the World Cup squad,its cricket board (WICB) saidon Tuesday.

Bravo has been ruled out ofthe World Cup with a kneeinjury and uncapped Guyaneseleg-spinner Devendra Bishoowill replace him in the squad.

The WICB confirmed it hadapproached Samuels first.

"Following the injury toDwayne Bravo, the chairman ofthe West Indiesselection com-mittee Clyde Butts held a dis-cussion with MarlonSamuelsabout his possiblenomination to replace Bravo,"the WICB said in a statement.-Reuters


International & Continuation

CONTINUATION

WASHINGTON: The recentsurge in oil prices is unlikely tohave a big impact on the U.S.economy, but could dampengrowth and raise inflation ifsustained, Federal ReserveChairman Ben Bernanke saidon Tuesday.

Offering no hint that he wasconsidering cutting short theFed's $600 billion bond-buyingstimulus, Bernanke told theSenate Banking Committee hesaw increasing evidence thatthe U.S. economic recoverywas becoming self-supporting.At the same time, he warned jobgrowth remains far too anemic.

"We do see some grounds foroptimism about the job marketover the next few quarters,"Bernanke said, citing a steeprecent decline in the jobless rateamong other factors.

The economy expanded atjust a 2.8 percent annual pace inthe fourth quarter and the job-

less rate stood at an elevated 9percent in January. While hiringappears to be picking up, thepace is too slow to make muchof a dent in unemployment.

"Until we see a sustainedperiod of job creation, we can-not consider the recovery to betruly established," Bernankesaid in remarks prepared fordelivery to the panel.

U.S. stocks were littlechanged after the release ofBernanke's testimony and areport showing growingstrength in the U.S. factory sec-tor. U.S. government bondspared losses.

"No major changes in tone,"said Andrew Tilton, economistat Goldman Sachs. The Fed willmost likely complete its bond-buying program over the nextfew months and then call it aday, he said.

"The bar is pretty high," foreither curtailing bond buys or

expanding the program, Tiltonsaid.

Bernanke said downside risksto growth had diminished, andstated for the first time that therisk of deflation -- a key justifi-cation for the Fed's bond-buyingspree -- was now "negligible."

At the same time, Bernankedid not appear concerned that arecent spike in the price of crudeoil, driven in part by a wave ofpro-democracy revolutions inthe Middle East and NorthAfrica, would do much harm tothe U.S. economic outlook.

Crude oil prices briefly sur-passed $100 a barrel in lateFebruary but have since comedown to around $98.

Bernanke said the Fedexpects inflation to remain lowand that long-term inflationexpectations appear contained,both according to market indi-cators and surveys of con-sumers.-Reuters

Bernanke seeslittle effect on

US from pricey oil

NEW YORK/LONDON:Factory input costs leapt acrossthe globe in February, the latestsign of rising inflationary pres-sures, while U.S. and euro zonemanufacturing grew at theirfastest pace in years, surveysshowed on Tuesday.

British manufacturing alsogrew strongly, at its fastest innearly two decades, and Indianfactory growth accelerated. Butin China, where authoritieshave raised rates and bankreserve requirements severaltimes since last year, factorygrowth slipped to its slowestpace in six months.

Overall, the February pur-chasing managers' indexes pro-vide the latest evidence ofgrowing inflationary pressurefrom a sharp rise in commodityprices. Crude oil prices hit 2-1/2 year highs last week onsupply concerns after uprisingsin Libya.

"With the latest surge in com-modity prices yet to fully feedthrough into consumer prices,inflation could well climb fur-ther in the next few months,"said Martin van Vliet at ING.

The output price index in the17-nation euro zone hit a recordhigh for the survey, which wasconducted Feb. 11-21 before oilprices spiked again last week.

The head of the InternationalMonetary Fund, DominiqueStrauss-Kahn, warned onMonday that global economicgrowth could suffer if the risein oil prices continued for along period.

US Federal ReserveChairman Ben Bernankeargued the recent surge in oilprices is still unlikely to have abig impact on the U.S. econo-my. A sustained rise in prices,however, could lead to weakergrowth and higher inflation, hesaid.

"The most likely outcome isthat the recent rise in commod-

ity prices will lead to, at most, atemporary and relatively mod-est increase in U.S. consumerprice inflation," Bernanke toldthe U.S. Senate BankingCommittee.

The U.S. manufacturing sec-tor grew at its fastest rate sinceMay 2004 in February, slightlyabove analysts' expectations, anindustry report showed onTuesday. Prices paid by manu-facturers also rose, but less thanexpected .

Official euro zone data alsoshowed consumer prices rose2.4 percent year-on-year lastmonth, considerably above theEuropean Central Bank's targetof just below two percent.

The European Commissionupped its inflation forecasts forthe bloc, now expecting pricesto rise 2.2 percent this yearcompared to their previous 1.8percent forecast.

The ECB is not expected toexit from the ultra-loose mone-tary policy it adopted in thedepths of the financial crisiswhen it meets on Thursday buteconomists expect an interestrate hike by the fourth quarterof this year.

"February's flash euro zoneCPI figures will do little to alterthe ECB's recent rather morehawkish stance ahead ofThursday's Council meetingand press conference," saidJonathan Loynes, chiefEuropean economist at CapitalEconomics.

The latest European PMIsalso showed that manufactur-ing growth across the eurozone, which had previouslybeen mainly driven byGermany's robust economicrecovery, picked up in someeconomies on the periphery. Indebt-stricken Ireland, manufac-turing activity hit an 11-yearhigh.

China PMIs showed thatmanufacturing growth slipped

to its slowest pace in at least sixmonths, a sign that the govern-ment's campaign to tame infla-tion was having an effect.

But gauges of factory inputprices still hit three-monthhighs in both China's officialPMI and a private-sector PMIsponsored by HSBC.

Many of China's businesseswere shut or running at halfspeed in the first part ofFebruary as China celebratedthe Lunar New Year holiday,making it difficult to draw firmconclusions, though the PMIsare on a mild downward trend.

Since October, when inflationbegan to pick up, China hasraised banks' required reservelevels five times to a recordhigh, increased interest ratesthree times, and also orderedbanks to lend less.

Lending by Chinese banksremains excessively fast, top-ping the "extreme upper limit"set by regulators, the country'sbanking chief said at an internalmeeting at the start of this year,a source told Reuters onTuesday.

Raw material costs have risenbroadly with oil. Worriesabound that a sustained rise incommodity prices, from metalsto grains, could reduce demandand slow economic activityaround the world.

India has the highest inflationof any major Asian economyeven after seven rate increasesin a year. Factory input pricesthere rose at the fastest pacesince the records for the PMIbegan in 2005.

"Manufacturers are facingever steeper increases in inputcosts, reflecting the tightness oflabour markets and rising mate-rial costs, which will continueto add upward pressure on out-put prices," said Leif Eskesen,chief economist for India andASEAN at HSBC, which spon-sors the index.-Reuters

World factoryinput costs

rising sharply

Bank ofCanada

gives no hintof next rate

hikeOTTAWA: The Bank ofCanada kept interest ratesunchanged on Tuesday andgave no signal it plans to tight-en soon, spurring traders toscale back rate hike bets andknock the Canadian dollar froma three-year high.

The central bank repeated theexact language on rates from itsJanuary decision, saying thatwhile considerable monetarystimulus remained in place "anyfurther reduction in monetarypolicy stimulus would need tobe carefully considered."

It said the Canadian recoverywas moving a bit faster thanexpected and hailed a buddingrecovery in net exports. But itcautioned that the sector "con-tinues to face considerablechallenges from the cumulativeeffects of the persistent strengthin the Canadian dollar andCanada's poor relative produc-tivity performance."

Investors hoping for a hintthat recent strong economicdata would prompt the bank toresume rate hikes at its nextdecision date on April 12 weredisappointed. The Canadiandollar weakened against theU.S. currency following thestay-the-course statement.

"On balance, it suggests noimminent rate move," said PaulFerley, assistant chief economistat the Royal Bank of Canada.

Canada was the first of themajor industrialized countries tostart lifting rates from emer-gency lows last year, raisingborrowing costs three timesbetween June and September.The bank then moved to thesidelines, saying it needed moreevidence the U.S. and globalrecoveries were gaining traction.

After fourth-quarter econom-ic growth came in stronger thanexpected at 3.3 percent and theU.S. economy showed signs ofstrength, many economistsexpected the Bank of Canada tosignal plans to resume tighten-ing monetary policy in comingmonths. -Reuters

Meanwhile addressing the workers of Karachi division, NawazSharif said that target killers who have been nabbed in Karachitheir accountability should be held. Karachi is Pakistan's hub andmini Pakistan and establishment of peace in the city is vital. Hesaid we are against ethnics and are for national unity.

He demanded a judicial enquiry into the May 12 mayhemLeaders of PML-N Iqbal Zafar Jhagra, Ghaus Ali Shah, AnoushaRehman, Muhammad Sadiqe ul Faroq, Khwaja Imran and otherattended the meeting. Furthermore, Mian Sharif said those arrest-ed on charges of target killings and plotters of May 12 carnageshould be held accountable. Nawaz said despite using Sindh Cardfor its interests, the Pakistan Peoples Party led government paid noheed to development of the province and Sindhi people were keptin dark about their basic rights. He said people of Sindh havealways preferred national interest over personal and party interestsand the PML-N highly esteems their sacrifices. He said the PML-N while keeping in view the sacrifices rendered by Sindhi peoplewould spare no efforts for development of the province and raisingtheir living standard after coming into power. -Agencies

Continued from page 12No #8

Commenting on the petroleum products price hike, MNA Farah


Foreign Office also said that embassy officials had been sent to the Libyan border to receive arriv-ing Pakistanis. -Online


"The situation is nervous," said Salah, a 35-year-old doctor at one bread shop where about 15 peo-ple were queuing outside. "Of course I am worried. My family is afraid. They are waiting at home.We have been hearing gun-fire. "But the people are together. I hope the situation calms down. I am35 and this is the first time I saw something like this in Libya. It is very scary."

A resident in the rebel-held town of Zawiyah, 50 km west of Tripoli, told Reuters by telephone thatthere had been a low-key skirmish with pro-Gaddafi forces on the outskirts of the town overnightbut that the situation was now calm. "Our guys opened fire at a checkpoint. They (pro-Gaddafiforces) ran away. We have their anti-aircraft gun and many Kalashnikovs, which they left. Three sol-diers died on their side," said the resident, who did not want to be identified.

The United States said on Monday it was moving ships and planes closer to the country and BritishPrime Minister David Cameron said his government would work to prepare a "no-fly" zone to pro-tect the Libyan people. Despite his continued hold on Tripoli, his last remaining stronghold andhome to more than 1.5 million people, Gaddafi's power to influence events in his vast desert coun-try has shrunk dramatically in the past two weeks.

"Gaddafi is finished if he does it (military attack) and finished if he doesn't. In both cases he isvery vulnerable," said UK-based Libyan activist and editor Ashour Shamis. In another potentialblow to Gaddafi, Libya's National Oil Corporation said Libya's oil output had halved because of thedeparture of oil workers, although installations were undamaged and NOC was still overseeingLibya's oil production and exports. Regional experts expect rebels eventually to take the capital andkill or capture Gaddafi. He denied using his air force to attack protesters but said planes had bombedmilitary sites and ammunition depots. He also denied there had been demonstrations and said youngpeople were given drugs by al Qaeda and therefore took to the streets. Libyan forces had orders notto fire back at them, he said. Some see Gaddafi's many media appearances as an astute attempt touse Western satellite television channels to remind a global audience he remains in charge and there-by undermine any notion that his authority is ebbing. "There's a battle going on for the narrative,"said Shashank Joshi, an analyst at Britain's Royal United Services Institute. "Gaddafi, his sons, andassociates have been directly ordering killings on Libyan television channels," they said. -Agencies


The Government of Pakistan has contributed Rs500 million andPakistan Textile City had spent the initial paid up capital on theacquisition of land and its development.


Another company Karachi Electric Supply Co (KESC) has torefund the amount of Rs5864 million as they purchased 2500 met-ric ton furnace oil from Pakistan State Oil.

The amount also includes previous deposit claim. The suppliesof oil to KESC have been made according to final settlement ofaccounts. A consortium AES comprising of two companiesLalpeer Power Production Plant and Pakgen Power Companyhave to pay nothing to PSO as they purchased 12717 metric tonoil on cash payment. Similarly some other IPPs includingKohinoor Energy, Southern Electric, Japan Power, Saba Power,Atlas Power Limited, Tapal Energy and Gull Ahmed purchased3759 metric ton furnace oil from PSO on cash basis. -Online


Stock Markets besides the managing directors of state sector gassupply companies in the country and other relevant government offi-cials. The President said the gas supply issues raised by the labourin Punjab must be looked into on priority basis and their com-plaints addressed forthwith. The PPP is a Party of the labour andthe problems and issues of working classes must be addressedurgently, he said. The President said that the textile industry wascritical for the country's economy and that it must not be allowedto suffer on account of gas supply problems. On the othere hand,chairman APTMA Gohar Ejaz, Chairman APTMA Punjab Bashirand Chairman KIA Faisalabad Azhar Majeed jointly told mediaafter a meeting presided by President Asif Ali Zardari at BilawalHouse here that the President was not happy over the gas loadshedding for industry and instructed the utility companies toensure uninterrupted gas supply to textile sector for five days.

They said that the President has said that he would not let theindustry close down and assured that no worker would be unem-ployed due to gas load shedding. Ejaz said that 150 million cubicfeet of gas per day would be supplied to textile sector to make thetotal supply of 300 mmcf per day He said the total demand of tex-tile sector was 400 mmcf per day and the resumption of gas willnormalise production process in the country. Representatives offertiliser sector Arif Habib and Aqeel Karim Dedhi told newsmenthat President Zardari has directed to resume gas supply to valueadded and fertiliser sectors on immediate basis.


The board rebated Rs64.853 billion from July-February andRs5.631 billion during the month of February. Talking to APP,Additional Secretary FBR, Asrar Rauf said that there was over 27per cent growth in the revenue collection on exports as the tax onexports increased from Rs9 billion in July-January (2009-10) toRs12 billion during the first seven months of this fiscal year.

He said that taxes on imports have also witnessed 23 per centgrowth till January 2011 by growing from Rs27 billion last yearto Rs34 billion this year. Similarly the taxes related to the telecomsector also increase by 19 per cent during the period, Rauf said,adding taxes in this sector increased from Rs12.8 billion to overRs15 billion. However, he said that there has been fall of 9 percent in PSDP related taxes which he said have gone down fromRs48 billion last year to Rs44 billion this year. -APP


court challenging the decision to increase the petroleum productprices. His stance was that the increase is an added burden in an


The court ordered the FIA to submit its daily report of the Hajjscam case in the chamber of Justice Raja Fayyaz. The CJ orderedthe FIA to act against Member National Assembly Imran Shah forleveling fake charges at Abdul Qadir Gilani. Chief Justiceexpressed annoyance with ex-minister Azam Swati over failure toprovide evidence to the court in Hajj corruption scam. The CJremarked that the government was creating hurdles in court'swork. The hearing was adjourned for two weeks. -Agencies


"It is preferable to sit in Opposition", he added, "rather thanindulging in politics in contravention to the trust reposed by thepeople and get involved in the game of interests."

He said that all the members of the Cabinet including thewomen are directly elected members of the Parliament. He saidthat size of the Cabinet has been reduced to demonstrate practical-ly the seriousness of the government towards implementation ofthe 18thAmendment in the letter and spirit. He urged the politicalforces of the country to set examples by following the true demo-cratic norms and values. Jamshed Dasti exchanged views on theprevailing political and economic situation in the country.

He also introduced to the Prime Minister, Abdul Basit whohas represented Pakistan in Rugby at various internationalevents. Prime Minister lauded Abdul Basit and urged him towork hard for improving his game. He also directed that prop-er job may be provided to the player at the earliest. Riaz Pirzadadiscussed the problems and issues of his constituency. He alsoinformed the Prime Minister about the progress upon the ongo-ing development projects in his area.-NNI


already difficult time for the people and the court should pass an orderagainst the increase in petroleum product prices. On the other side,Karachi Transporters Ittehad has announced an indefinite strikeagainst the increase in POL prices. Talking to private TV channel,President Karachi Transporters Ittehad Irshad Bukhari said that thepublic and transporters will suffer a lot due to the increase in petrole-um prices. He demanded that the political parties should play their roleto force the government to reverse the decision of POL prices hike.Irshad Bukhari said that the transporters will completely support thepolitical parties if they call for strike against increase in POL prices.

Naz Isfahani urged the political figures not to make irresponsible statement on the issue. She saidthat the government was fully committed to bring inflation under control and it had constituted aparliamentary committee comprising representatives from political parties to review the existingpetroleum prices mechanism. -APP

supply from Saudi Arabia, which holds most of the world's spare crude output capacity. The widerfear is that sustained higher oil prices could dampen global growth. The FTSE 100 closed down 58.25points at 5,935.76 after trading as high as 6,040.43 earlier. Volumes on the benchmark were about 109per cent of its 90-day daily average. Index heavyweight HSBC shed 3 per cent in strong volume afterbrokers Deutsche Bank and UBS downgraded their ratings. Tuesday's fall extended the previous ses-sion's 4.7 per cent drop after HSBC cut profitability targets and its annual profits fell short of expec-tations. "The results are not that bad to warrant such a big drop in the share price ... The shares arecoming back to reasonable valuation levels," a dealer said, adding that he was looking to buy at aprice range of 650 to 665 pence. HSBC shares are approaching oversold territory, with the 14-day rel-ative strength index (RSI) reaching 36.1. Thirty and below is considered oversold.-Reuters


a positive factor for the Nikkei because it underpins the money shift into the Tokyo market andcan lifted the mood of consumers by spurring demand.-Reuters


Kohat Text i le Half Year ly - 32.61 1.57

Metro Steel Hal f Year ly - -21.74 -0.70

Moonl i te (PAK) Half Year ly - -8.55 -3.96

Mustehkam Cement Half Year ly - -171.50 -4.11

N. P. Spinning Half Year ly - 44.72 3.04

Nishat (Chunian) Half Year ly - 518.94 3.25

Pak Modaraba Half Year ly - 3.41 0.27

Pak Synthet ics Half Year ly - 175.36 3.13

Redco Text i le Half Year ly - 4.19 0.09

Saif Text i le Half Year ly - 267.53 10.13

Sari tow Spinning Half Year ly - 32.82 2.47

Service Text i le Half Year ly - 2.30 0.52

Sind Fine Text i le Half Year ly - -1.00 -0.44

Telecard Limited Half Year ly - 226.90 0.76

Tri-Star Mutual Hal f Year ly - 3.76 0.75

Tandl ianwala Sugar 1st Qtr - 52.60 0.45


Technical analysts at Nomura International see the initial resistance for the China Enterprises Indexbetween the 12,616 to 12,705 level, a range covering a trendline resistance in place since the Januarypeak and the 50-day moving average. The index closed at 12,620.3 on Tuesday and a break abovethis region on good volume would pave the way for retest of the January high of 13,300, they said.Disappointing earnings report from banking giant HSBC Holdings hit its shares, which had seenheavy buying interest ahead of the results, sending them as much as 5.1 per cent lower to a one-monthlow. Traders at a large US investment bank said retail investors, who had sizeable exposure in thestock as it significantly outperformed the broader market so far this year, dumped warrants. -Reuters


Consumer staples Wal-Mart Stores Inc and Coca-Cola Co helped shield the Dow. Wal-Mart rose0.8 per cent to $52.41, while Coca-Cola was up 1.9 per cent to $65.12. Stocks have taken their cuefrom oil since the start of turmoil in the Middle East and North Africa in January. The S&P had itsweakest performance since November last week, but still had tallied three months of gains.

"We are continuing to focus heavily on what's happening to oil prices and oil supply," said JoeBattipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania. -Reuters


in the December quarter from a year earlier, government data on Monday showed. Despite absenceof key reforms in the annual budget, there was optimism as the finance minister raised the foreigninvestment limit in corporate infrastructure bonds by $20 billion, and announced new infrastructuredebt funds. On Tuesday, financial stocks rose as investors set aside worries of further interest ratehikes. Largest lender State Bank of India rose 2.9 per cent, while private sector peers ICICI Bankand HDFC Bank gained 5.7 per cent and 4.2 per cent, respectively.-Reuters


Capital expenditure during the half year was Rs4.9 billion compared to Rs2 billion same period lastyear. Addition to operating fixed assets was Rs3.7 billion versus Rs1.9 billion for the correspondingperiod. The capital expenditures were made as planned and higher level of capitalisation of up to Rs7billion is likely to be achieved by the year end which is likely to bode well for the Company. Duringthe half year, SSGC extended 111 new industrial connections, 809 commercial and 49,576 domesticconnections. The gas distribution system was extended by over 1,032 km while another 151 km ofdistribution lines were laid under the rehabilitation projects to curtail leakages and lines losses.


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TRIPOLI: Libyan leaderMuammar Gaddafi despatchedforces to a western border area onTuesday in defiance of Western mil-itary and economic pressure, stir-ring fears that the bloodiest Arabrevolt may grow more violent.

As the West weighed militaryoptions, suspicions grew that the vet-eran leader, in power for 41 years,did not grasp the strength of theforces now gathering against him.

In Moscow, a Kremlin sourcesuggested Gaddafi should stepdown, calling him a "living politicalcorpse who has no place in themodern civilized world," Interfaxnews agency reported.

But Gaddafi appeared oblivious

to outside pressure."All my people love me. They

would die to protect me," he toldthe US ABC network and the BBCon Monday, dismissing the signifi-cance of a rebellion against his 41-year rule that has ended his controlover much of eastern Libya.

Barely 12 hours after the UnitedStates said it was moving warshipsand air forces closer to the northAfrican oil exporting country, Libyanforces re-asserted their presence atthe remote Dehiba southern bordercrossing on Tuesday, decorating theborder post with green Libyan flags.

Reporters on the Tunisian sidesaw Libyan army vehicles, and sol-diers armed with Kalashnikov rifles.

The previous day, there was noLibyan security presence at the bor-der crossing. Dehiba is about 60 km(40 miles) from the town of Nalut.

In another part of the west, resi-dents said pro-Gaddafi forcesdeployed to reassert control ofNalut, about 60 km from theTunisian border in western Libya,to ensure it did not fall into thehands of anti-Gaddafi protesters.

Around the Libyan capital therewere queues outside bread shops onTuesday morning. Some residentssaid many bread shops were limit-ing the number of loaves customerscould buy, forcing people to visitseveral to get needed supplies.

See # 11 Page 11

Gaddafi deploys forces as pressure raised

World turns thescrews on Libya

FWO workers abducted

Rs8mnransom

demandedWANA: Taliban militantsin North Waziristan tribalregion have demanded ran-som for the release of twoarmy contractors.

The militants kidnappedtwo contractors of theFrontier Works Organization(FWO), a construction andmilitary engineering admin-istrative branch of thePakistani Army, in SouthWaziristan tribal region inDecember last year.

The militants shifted themto North Waziristan, theirstronghold near the Afghanborder, officials from secu-rity force said.

Tribal elders had series ofmeetings with the militants butthey had demanded a ransomof 8 million rupees for therelease of FWO workers.-NNI

Jan spreadsup 32bps YoY

Ghulam Raza RajaniKARACHI: State Bank ofPakistan released lending anddeposit rates of the bankingsystem for the month ofJanuary 2011.

Banking spreads rose 32bps to7.57 per cent compared with7.25 per cent in December 2010.

The main reason for increasein spread remained higherlending rate which increasedby 24bps on yearly basis to13.59 per cent from 13.35 percent in same period last year.

On the other hand, depositcost declined 8bps YoY to 6.02per cent in January 2011against 6.10 per cent inJanuary 2010, thus reflectingample liquidity in the market.

On the other hand, spread onmonth on month basis fell by 4bps where they were 7.61 percent in December 2010.

Cost of deposits increased by11bps at 6.02 per cent whilethey were 5.91 per cent in pre-vious month. Likewise, lendingcost gone up 7bps on monthlybasis to 13.59 per cent.

LAHORE: The Pakistani nationals whocame back from Libya have complainedof the Pakistan embassy's non-coopera-tion during the difficult time when theywere stranded in the strife-torn country.

A Turkish Airlines flight landed atthe Lahore Airport on Tuesday with174 Pakistanis evacuated from Libya.

The passengers said they were evac-uated via Turkish Airlines but thePakistani embassy in Libya did notcooperate with them.

They were sitting hungry and thirstyat the airport for the last three days, thepassengers added. Some of them saidthat they were even tortured in Libya.

Provincial Minister ChaudhryAbdul Ghafoor received the passen-gers, and they were seen off to theirhometowns in buses provided by the

Punjab Government.On Monday, Pakistan finally joined

the long list of countries undertakingmass evacuations of their nationalsfrom turmoil-hit Libya by arrangingtwo chartered flights.

"Our Missions in the region haveclear instructions from the ForeignMinistry to facilitate early and saferepatriation of Pakistani expatriates toPakistan," Pakistan's Foreign Officespokesperson said in a statement.

The Pakistan embassy officials areworking with the local authorities inTunisia, Algeria, Egypt and Turkey toensure prompt repatriation, especiallyof those Pakistanis who have arrivedwithout proper documentation andpassports, the statement added.

See # 10 Page 11

Libya-unrest

174 Pakistanis flyback home safely

LAHORE: Quaid Pakistan MuslimLeague-(N) Mian Nawaz Sharif hasrejected the recent hike in petroleumrates and demanded of the governmentto eliminate corruption, poverty,unemployment, tax evasion, controlsoaring rates and give subsidy ondiesel and petrol.

Addressing to consultative meetingregarding reorganisation of PML-Nhere in Model Town Tuesday, chiefPML-N Nawaz Sharif said recent risein petroleum rates is not acceptable.

The meeting was attended by PML-N workers from Karachi, and LarkanaDivision.

He further said that PPP is still follow-ing the dictator's policies while madewrong promises and agreements withPML-N, added no compromise wouldbe made regarding people's problems.

He said that dictator gave gifts ofcorruption, drone attacks and terror-

ism to the nation. He said that restora-tion of judiciary is a miracle.

He promised that after coming intopower, PML-N would compensate alldeprivation of the masses while educa-tion network would be spread in allover the Sindh because Sindh is den ofour culture and civilisation.

On this juncture, he further promisedthat industrial zones would be set up inSindh for economic development ofthe province.

The former prime minister said thatthe Sindh was deliberately kept back-ward but his party would eliminate themiseries of Sindhi people. Sharif saidthat he would bring educational pros-perity in the province again.

The PML-N leader said that if thosewho disrupted Karachi's peace werepunished, the situation would be nor-mal in Karachi today.

See # 8 Page 11

Sharif wants accountability of the corrupt

Fuel price raisedraws ‘N’ flak

NEW DELHI: India is awaitinga reply from Pakistan on itsrequest to send a team there toquestion some suspects in theMumbai terror attack casebefore it decides on allowing aCommission from Islamabad,Home Minister P Chidambaramsaid on Tuesday.

Addressing his monthly pressconference, he said India hasasked Pakistan to allow a teamto question some people theresuspected to be involved in the

26/11 Mumbai carnage."We are awaiting an answer

for the question that we haveput forth," Chidambaram said.

He added that the documentaryevidence which Pakistan wantedfrom India will be provided tothem in the next few days.

Home Minister said in-princi-ple India has agreed to allow acommission from Pakistan tovisit here in connection with the26/11 investigations.

"We just agreed to allow a

commission to come to India torecord the evidence of theInvestigating Officer, theMagistrate, who recorded thestatements, and some doctors,who conducted the postmortem. We are awaiting areply to our questions,"Chidambaram said.

To a question, he said "It doesnot mean one way or the other.We will take a view once we geta final and firm answer." -Agencies

Chidambaram says will allow Pak panel if they allowed ours

India seeks Pakistanreply on 26/11 probe

ISLAMABAD: Subsidy to the con-sumers on petroleum products will costRs5 billion per month to the governmentexchequer despite raise of 9.9 per cent intheir prices for the current month.

"The government will continue tolose Rs5 billion per month for notfully passing the effect of the rise inthe petroleum products prices at inter-national market to the consumers,"said an official of the Oil and GasRegulatory Authority (OGRA).

"The government was making all-out efforts to extend relief to the mass-es but the steep rise in petroleum prod-ucts' prices at international oil marketforced the authority to raise the samehere," the official told APP.

He said that the Federal Governmenthad kept the prices at November 2010level for four months which cost Rs13

billion to the national exchequer."If the prices continue to remain

unchanged even for March 2011, thenational kitty will have to lose revenueof upto Rs30 billion," he said.

The Ogra's official said that theprices of Arab Gulf Petroleum prod-ucts had increased up to 27 per centfrom November 2010 but the domesticprices had been adjusted by 9.9 percent only.

"From November 1, 2010 to March1, 2011 the prices of kerosine oil, highspeed diesel, petrol and furnace oil ininternational market had risen by 25.8per cent, 24.8 per cent, 23.4 per centand 27.3 percent respectively", hesaid, adding it was apparent that howmuch the government was sincere inproviding relief to the people.

See # 9 Page 11

Despite hike,Rs5bn/month

subsidy still on

LAHORE: Pakistanis returned from Libya standing at Lahore Airport. -Online

PIApassenger

held in UKMANCHESTER: A pas-senger was offloaded fromPakistan InternationalAirlines (PIA) flight onbound to Islamabad fromManchester and was arrest-ed for undisclosed reasons.

According to a private TVchannel, airport securitycalled back the plane fromrunway when it was readyto takeoff and arrested aman who was identified asa Kishwar Khan from PIAflight PK 702.

As per sources, airportsecurity called back theplane due to negligence ofPIA crew because PIA staffoffloaded the bag of anoth-er man instead of KishwarKhan. -Agencies

People complain embassy's non-cooperation

POL Prices

The Financial Daily-Epaper-02-03-2011

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Transcript of The Financial Daily-Epaper-02-03-2011