International

Mubarak stays put, defies all pressuresShifts some powers to vice president

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*Gold $/ozs 1,355.00

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Malaysian Palm $ 1,307

GOLD (NCEL) PKR 37,483

KHI Cotton 40Kg PKR 12,325

Yearly(Jul, 2010 up to 8-Feb-2011)

Monthly(Feb, 2010 up to-8-Feb-2011)

Daily (8-Feb-2011)

Total Portfolio Invest (28 Jan-2011)

197.29

-3.46

-5.44

3091

0.47

-1.20

-0.84

-0.91

0.22

1.38

0.86

SCRA(U.S $ in million)

Portfolio Investment

FIPI (10-Feb-2011)

Local Companies (10-Feb-2011)

Banks / DFI (10-Feb-2011)

Mutual Funds (10-Feb-2011)

NBFC (10-Feb-2011)

Local Investors (10-Feb-2011)

Other Organization (10-Feb-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (29-Jan-11)

Inflation CPI% (Jul 10-Jan 11)

Exports (Jul 10-Dec 10)

Imports (Jul 10-Dec 10)

Trade Balance (Jul 10-Dec 10)

Current A/C (Jul 10- Dec 10)

Remittances (Jul 10 - Jan 11)

Foreign Invest (Jul 10-Dec 10)

Revenue (Jul 10 Dec 10)

Foreign Debt (Sep 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Nov 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.31bn

14.55%

$13.23bn

$22.55bn

$(9.32)bn

$26mn

$6.12bn

$1.05bn

Rs 765bn

$58.41bn

Rs 5497.4bn

$323.6mn

-4.69%

4.10%

$1,051

175.13mn

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

18.18

2.00

1.70

11.12

PKR/Shares

110.54

154.58

42.51

36.14

37.80

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)

09-Feb-2011

09-Feb-2011

09-Feb-2011

29-Nov-2010

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

13.53%

13.69%

13.86%

14.00%

13.36%

13.63%

13.77%

14.13%

14.25%

14.21%

14.25%

14.26%

14.61%

14.78%

14.97%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.90 85.90

Canadian $ 84.70 85.70

Danish Krone 14.70 15.00

Euro 115.70 117.00

Hong Kong $ 10.70 11.20

Japanese Yen 1.017 1.043

Saudi Riyal 22.65 22.85

Singapore $ 66.00 67.00

Swedish Korona 12.60 13.00

Swiss Franc 86.10 86.70

U.A.E Dirham 23.15 23.40

UK Pound 136.20 137.80

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Open Mkt Currency Rates

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TT Clean TT & OD

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Danish Krone 15.64 15.67

Euro 116.58 116.86

Hong Kong $ 10.92 10.95

Japanese Yen 1.030 1.033

Saudi Riyal 22.68 22.73

Singapore $ 66.68 66.84

Swedish Korona 13.20 13.23

Swiss Franc 88.63 88.84

U.A.E Dirham 23.16 23.21

UK Pound 136.92 137.24

US $ 85.03 85.22

Inter-Bank Currency Rates

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Malik says issues tobe resolve in 2-3 days

See on Page 12

ISLAMABAD: PrimeMinister Syed Yousuf RazaGilani Thursday took into con-fidence President Asif AliZardari on formation of newcabinet along with the pro-posed roundtable of the politi-cal parties.

Sources added that PresidentZardari directed PM Gilani tocomplete the consultationprocess of new cabinet at theearliest so that work can getstarted.

According to sources, PrimeMinister Gilani took into confi-dence President Asif AliZardari on formation of newcabinet besides its formationthat will be completed phase-wise.

President also directed PMGilani to chalk out differencesof MQM and JUI, as govern-ment cannot afford more lapsesin this regard.

Matters regarding current sit-uation in the country and theproposed roundtable of the

political parties were discussedduring the course of meeting.

The two leaders alsoreviewed the state of economyin the country and the measuresbeing taken at various levels forthe revival and strengthening ofthe war and flood ravagedeconomy.

Furthermore, President AsifAli Zardari and Prime MinisterSyed Yousuf Raza Gilani joint-ly chaired a high-level presen-tation to review the economicsituation in the country at theAiwan-e-Sadr.

The presentation was attend-ed by Dr Abdul Hafeez Shaikh,Senator Waqar Ahmad Khan,Dr Nadeem-ul Haq, DeputyChairman PlanningCommission, Shahid HafizKardar, Governor State Bank ofPakistan, Hina Rabbani Khar,M Salman Faruqui, SecretaryGeneral to the President, MalikAsif Hayat, Secretary to thePresident, Khushnood AkhtarLashari, PSPM, federal secre-

taries finance, revenue divi-sion, planning commission andprivatization, Abdul WajidRana, special secretary finance,Hasan Nawaz Tarar, acting sec-retary EAD and spokespersonto the President FarhatullahBabar.

The meeting also reviewedthe performance of the agricul-ture sector, the large scale man-ufacturing sector, the balanceof payment, inflation and theforeign remittances.

Meanwhile, addressing theinauguration ceremony of 6thpopulation and housing censusPrime Minister Gilani said thatnot only 1-point agenda but allhot issues would be discussedin roundtable called byPresident Asif Ali Zardari.

He further said that the gov-ernment of Pakistan has decid-ed in a meeting of the Councilof Common Interest to hold thenext Population and HousingCensus in the country in 2011

See # 7 Page 11

Economy revivalsteps deliberated PM urged for early formation of Cabinet

Staff Reporter

KARACHI: Remittances senthome by overseas Pakistaniscontinued to show a risingtrend as an amount of $6,118million was received in thefirst seven months (July-January) of the current fiscalyear 2010-11, showing anincrease of $919.92 million or17.70 per cent when comparedwith $5,198.08 millionreceived over the same periodof the last fiscal year.

The inflow of remittances inthe July-January, 2011 periodfrom UAE, Saudi Arabia,USA, GCC countries (includ-ing Bahrain, Kuwait, Qatar andOman), UK and EU countriesamounted to $1,437.05 mil-lion, $1,353.40 million,$1,145.71 million, $721.47million, $669.70 million and$195.66 million respectively ascompared to $1,180.24 mil-lion, $999.41 million,

$1,061.89 million, $737.72million, $550.35 million and$157.93 million respectively inthe July-January, 2010 period.

Remittances received fromNorway, Switzerland,Australia, Canada, Japan andother countries during the firstseven months of the currentfiscal year amounted to$594.98 million as against$509.55 million in the sameperiod last year.

The monthly average remit-tances for the July-January2011 period comes out to$874.00 million as comparedto $742.58 million during thesame corresponding period ofthe last fiscal year, registeringan increase of 17.70 percent.

In January 2011, an amountof $826.57 million was senthome by overseas Pakistanis,up 23.76 percent or $158.67million, when compared with$667.90 million received in thesame month last year.

7M remittancesreach over $6bn

ISLAMABAD: SupremeCourt of Pakistan has issuedarrest warrants of sacked min-ister for religious affairsHamid Saeed Kazmi on thereport of FIA and has remarkedthat warrants can be obtainedfrom the subordinate court toarrest Hamid Saeed Kazmi.

8-member special bench ofSC presided over by the ChiefJustice of Pakistan (CJP)Iftikhar Muhammad Chaudhrytook up Hajj corruption casefor hearing on Thursday.

FIA told the SC that evidence

had been found about involve-ment of sacked minister forreligious affairs in Hajj corrup-tion, adding he had got com-mission and kickbacks.

FIA team had started pro-ceedings to arrest him, courtwas informed. "Those whowere involved in Hajj corrup-tion were holding accounts inTurkish banks", justiceRamday remarked. Court saidstatement of Zain Sukhera hadbeen recorded and FIA hadmentioned in its report that he

See # 8 Page 11

Court ordersto cuff Kazmi

MARDAN: At least 35 sol-diers were killed and 54wounded when a teenagebomber blew up himself inparade ground at PunjabRegiment Center (PRC) areahere on Thursday.

According to the mediareports, suicide bomber blewhimself up as a result 20 sol-diers were martyred instantlywhile 40 got injured in which20 got seriously injured. Thedead bodies and injured whereshifted to Combined MilitaryHospital (CMH) Mardan.Later the death toll rose to 35.

DSP Abdul Samad Khan saidthe bomber managed to sneakinto the otherwise heavilyguarded training centre wear-ing a school uniform as a dis-guise.

The army has carried out a

series of offensives against theal Qaeda linked PakistaniTaliban movement, whichclaimed responsibility for theattack.

Operations in lawless tribalareas along the Afghan borderhave failed to break the resolveof Taliban fighters determinedto destabilise the US-backedgovernment.

The brazen bombing in thenorthwestern town of Mardansuggested militants areregrouping after a lull in majorattacks.

In a sign of how nervous thegovernment is about security,soldiers at the gates of the mil-itary compound searched driv-ers before allowing them totransport coffins inside.

"The bomber struck recruitswhen cadets were busy in their

morning training," a militaryofficial said.

The boy apparently walkedinto the compound, officialssaid.

"It seems the Taliban are stilla very potent force becausethey continue to attack instal-lations, even if they have beenquiet for a time," said formerGeneral Talat Masood.

"They reassert themselvesafter a while, and it will be awhile before we consider themto be less of a threat."

Prime Minister Gilani con-demned attack at the PunjabRegiment Center.

"Such cowardly attacks can-not affect the morale of thesecurity agencies and theresolve of the nation to eradi-cate terrorism," he said in astatement. -Agencies

Teen-bomber killsthirty-five recruits

Suicide bomber hits Army compound

Presidentreiteratesto uprootmilitancy

ISLAMABAD: President AsifAli Zardari Thursday called forjoint efforts to fighting themenace of militancy andextremism by strengthening thecountry's democratic institu-tions.

"We will root out militancyand extremism from our land,no matter what the price," thePresident said at a ceremony ofallotment of plots and apart-ments to the families of mar-tyrs, at the Presidency.

The ceremony was speciallyheld to honor those who laiddown their lives during the by-elections in Attock, during themovement for restoration ofjudiciary in July 2007 and thosewho martyred along withShaheed Mohtarma BenazirBhutto on December 27, 2007in Rawalpindi.

According to prepared text ofthe speech the President saidthat the government had takenmeasures to rehabilitate thefamilies of those who laiddown their lives to protectShaheed Mohtarma BenazirBhutto.

"Giving a plot or an apart-ment is no compensation forthe sacrifice rendered by theheroes.

This is our duty and we willdo more to honor the familiesof heroes of democracy," hesaid. He said this was no com-pensation to the sacrifices theyrendered as there is no price forlife. Instead, the President saidit was merely recognition bythe Pakistan Peoples Party gov-ernment of its martyrs.

Spokesperson to thePresident Mr. FarhatullahBabar said that the Presidentsaid the list of Shuhada waslong and mentioned the martyrsof October 18, 2007 and thosewho laid down their lives dur-ing struggle for democracy atdifferent times.

The ceremony was alsoattended by Parliamentarians,provincial ministers, familiesof martyrs and other high offi-cials. -Online

NEW DELHI/ ISLAMABAD:India and Pakistan have agreedto revive peace talks withPakistan, which were brokenoff by New Delhi after the2008 Mumbai attacks, sayingThursday discussions betweenthe nuclear-armed rivals wouldstart before July.

Both nations have beenunder pressure from the UnitedStates to resolve contentiousissues, including concernsabout militant violence and thedisputed Kashmir region. Theirrivalry spills over intoAfghanistan, complicatingpeace efforts there.

A senior Indian governmentofficial said the decision toreturn to talks was made at ameeting between the two coun-tries' top diplomats in Bhutan'scapital, Thimphu, on the mar-gins of a regional conference.

Senior officials of the two

countries would hold a seriesof talks on outstanding issuessuch as counter-terrorism andKashmir ahead of a visit toIndia by Pakistan's foreignminister by July, Pakistan's for-eign ministry said.

"They have agreed to resumedialogue on all issues," theministry statement said.

"I am cautiously optimisticabout the talks. Cautiousbecause there are so many vari-ables and unknowns involved,"said Amitabh Mattoo, profes-sor of International Relationsat Jawaharlal NehruUniversity.

"The new talks are in effectthe formal resumption of thecomposite dialogue," a seniorIndian official involved inrepairing ties with Pakistantold Reuters.

"What happened in Thimphu See # 12 Page 11

Pak, India set toresuscitate talks

ISLAMABAD: Federal minis-ter for privatisation, SenatorWaqar Ahmed Khan has con-vened meeting of the subcom-mittee of the CabinetCommittee on Privatisationtoday (Friday) to discuss thematter of issuing equity linkedinstruments (convertiblebonds).

The subcommittee wasformed under the chairmanshipof Minister for Privatization onFeb 3 to formulate recommen-dations for the issuance of con-

vertible bonds of State OwnedEntities (SOEs) in the capitalmarket.

The other members of thecommittee include, DeputyChairman PlanningCommission, Dr Nadeem-ulHaq, Secretary Ministry ofFinance, Dr Waqar MasoodKhan, Governor State Bank ofPakistan, Shahid Hafiz Kardar,Secretary Ministry ofPetroleum and NaturalResources, Imtiaz Kazi,

See # 13 Page 11

7M sales hike 11.5pc

Auto salesrace up 64pcin January

Ghulam Raza Rajani

KARACHI: Auto salesshowed an improvement ascumulative car, LCVs andpickup sales surged 11.5 percent to 82,767 units during7MFY11 compared with74,219 units in 7MFY10,according to the latest datareleased by PAMA.

On the other hand, sales ofcar, LCVs and pickup signifi-cantly hiked 64 per cent MoMto 14,668 units in the month ofJanuary 2011 against 8,943units in December 2010.

Reasons of surge in sales inmonth of January mainly dueto availing the New Year's reg-istration as December saleswas down by 24 per centMoM. As per details, amongstthe individual categories, car

See # 10 Page 11

Pak testfiresHataf-VII

missileRAWALPINDI: Pakistan onThursday successfully test-fired the indigenously devel-oped Cruise Missile Hataf-VII(Babar) with having a range of600-km.

According to ISPR, the mis-sile tests are part of a processof validating the system.

Babar, which can carrystrategic and conventionalwarheads, has stealth capabili-ties, is a low flying, terrain-hugging missile with highmaneuverability, pinpoint

See # 11 Page 11

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing at 6th Population and Housing Census Pakistan 2001. -APP

Cabinet body tomoot SOE-bonds

FX reserves down at $17.31bnStaff Reporter

KARACHI: Pakistan's foreign exchange reserves fell to $17.31billion in the week ending February 5, down from a record$17.38 billion the previous week, the central bank said onThursday.

Reserves held by the State Bank of Pakistan (SBP) fell to$13.76 billion from $13.85 billion in the week ending Feb 5,while those held by commercial banks rose See # 9 Page 11

Karachi, Friday, February 11, 2011, Rabi-ul-Awwal 7, Price Rs12 Pages 12

FIA finds corruption evidences

PM Gilani calls on President Zardari

Gilani hails progress in Thimpu talks

Waqar chairs meeting today

2 Friday, February 11, 2011

TFD ReportKARACHI: In accordancewith the ordinance of theGovernment of the RussianFederation regarding the par-ticipation of Russia in theinternational efforts onhumanitarian assistance tothe people of the IslamicRepublic Pakistan affectedby floods in August last year,a cargo plane of the Ministryof Emergencies of Russiadelivered to Islamabad onJan 15, first-necessity goods,

tents, tools and foodstuff.Humanitarian aid grossweighed about 108 tons.

On Feb 5, another cargoplane of the Ministry ofEmergencies of Russia deliv-ered to Islamabad about 113tons of humanitarian goods.Four cargo planes with human-itarian aid from Russia havebeen sent to Pakistan so far.

Previously two "IL-76"cargo planes of the Ministryof Emergencies of Russiadelivered humanitarian aid in

Islamabad in August last year.Russia could not remain

insensitive to the hardshipof the Pakistani people.

The Russian side hopesthat the humanitarian assis-tance is a timely and essentialcontribution to a friendlystate in overcoming the graveconsequences of the naturaldisaster, which affected livesof millions of Pakistani peo-ple, said Russian Consul-General Andrey Demodov ata briefing here.

Briefing on Russian aid to Pakistan

Staff Reporter

KARACHI: The admin-istrative control andresponsibility to preserveand maintain the 5000years old city, Moen JoDaro is being given toSindh Government, theSindh Minister for CultureMs. Sassui Palijo dis-closed Thursday. The deci-sion has been taken by theFederal Government inview of the devolutionplan being implementedafter the passage of 18thamendment.

The Minister said thatCulture Department,Government of Sindh hadbeen requesting for transferof all archeological sites ofSindh to ProvincialGovernment as the FederalGovernment in past had

failed to preserve andmaintain these sites. Shesaid that administrativecontrol of 128 sites hasalready been transferred toSindh Government andnow in view of the devolu-tion plan, the ancient site ofMoen Jo Daro is also beingtransferred to SindhGovernment. The Moen JoDaro was one of the great-est civilizations of ancienttimes, flourished on thebanks of Indus.

Ms. Palijo assured thatSindh government willtake all possible measuresfor proper conservationand preservation of allancient sites includingMoen Jo Daro. She saidthat recently, a"Memorandum of under-standing" has been signedbetween Culture

Department, Governmentof Sindh and UNESCO forpreservation of archeologi-cal sites in Sindh.UNESCO has undertakento provide funding, techni-cal assistance, trainingfacilities and also executejoint projects in this regard.

The Minister Culture fur-ther said that AntiquitiesAct 1975, which is FederalLaw is being amended inview of the requirements ofpresent times.

She said that a largenumber of ancient sitesand historical monumentsin Sindh have not beendeclared as "CulturalHeritage" under the rele-vant law. Therefore, sur-vey of such sites has beenstarted to give them legalcover of protected her-itage, she said.

Control of Moen Jo Darogiven to Sindh Govt

Staff Correspondent

LAHORE: An eight-member LCCI delegationis leaving on Saturday for a12-day business visit toSouth Africa to explorenew business avenues andenhance two-way trade.

The delegation headed byLCCI ExecutiveCommittee Member DrShahid Raza would havemeetings at various cham-bers and trade organiza-tions in South Africa.

The LCCI business dele-gation would also haveone-on-one meeting withtheir counterparts inJohannesburg, Pretoria,Durban, Port Elizabeth andCape Town so that the flowof Foreign DirectInvestment could get a

boost in real terms.In the first phase of visit,

the delegation would meetPakistan's HighCommissioner to SouthAfrica Zaigham UddinAzam and the membersMinara Chamber ofCommerce and Industry.The delegation would alsovisit various industrialunits in Johannesburg. Thedelegation would haveanother meeting withSouth African Trade andInvestment officials inPretoria.

In the next phase, the del-egation would net workingmeetings in Port Elizabethand Cape Town. The dele-gation would also signMemoranda of Understangwith their South Africancounterparts.

The delegation, compris-ing LCCI ExecutiveCommittee Member DrShahid Raza, Kashif Zia,Naimatullah Mazhar,Naseer Ahmad, MalikImran Faisal, Abdul HafeezKhan, Khawaja FarooqAkhtar and TahirMahmood on its way backto Pakistan would have ameetings with PakistanBusiness Council in Dubaiand at Pakistan Embassy inDubai.

Meanwhile, the LCCIPresident Shahzad AliMalik, Senior VicePresident Sh MohammadArshad and Vice PresidentSohail Azhar hoped thatthe visit of the LCCI dele-gation would furthercement country's trade tieswith South Africa.

8-member LCCIdelegation to visit

South Africa

KARACHI: ChiefMinister Sindh SyedQaim Ali Shah has under-lined the need to createawareness among massesabout causes and remedialmeasures against mostharmful silent killer dis-ease Hepatitis B and C soas to save the innocentpeople.

This he observed whileholding meeting of Healthdepartment in connectionwith C.M's initiative forHepatitis Free Sindh" atChief Minister House onThursday.

He said that a law willbe discussed to provideadmissions in schools to

only those children whowill present and submit acopy of certificate that thechild has been vaccinatedagainst Polio andHepatitis.

Syed Qaim Ali Shahinformed that the draftlaw for regulating the pri-vate items and hospitals

prepared by Sindh HealthDepartment was alsounder active considera-tion and necessary deci-sion will be taken soon.

Chief Minister Sindhexpressed his satisfactionon progress and achieve-ment for implementingthe Hepatitis programmein a befitting manner.

He appreciated that theHealth department hasachieved more than tar-gets fixed for the pro-gramme.

Chief Minister Sindhkeeping in view theincreasing cases ofHepatitis in the province,and over and above

achievement of the pro-gramme, agreed in princi-ple to extend the "ChiefMinister's initiative forHepatitis Free Sindh" pro-gramme for more 3-yearsso as to cover the remain-ing and remote areas ofprovince with provisionof necessary facilities of

screening, vaccinationand treatment.

Syed Qaim Ali Shahstressed the need toencourage precautionaryand preventive measuresabout Hepatitis on whichSeminars, symposiums,walks and rallies be heldfor awareness of people.

Sindh Health MinisterDr. Sagheer Ahmed andSindh Health SecretaryHashim Zaidi highlightedthe progress aboutHepatitis programme andother schemes and pro-grammes of HealthDepartment.

Programme Manager ofChief Minister's Initiative

for Hepatitis Free Sindhprogramme Dr. AbdulMajeed Chutto in hisdetailed briefing informedthat the Chief MinisterSindh Syed Qaim AliShah had taken step tolaunch the programme inthe year 2008-09 at thecost of Rs.2.9 Billion.

He said that the goalunder vision was to pre-vent the acute infections,addressing the chronicinfections, raising thepublic awareness, chang-ing the policy environ-ment and health systemstrengthening. Accordingto details of vaccinationagainst Hepatitis B1,135,000 individuals,1,39,843 for high riskpopulation, 775,000 for1st dose for newborn,18439 for person inmatesand 15 lac for autodestructible syringes forpublic sector hospitalswas done during the peri-od 2008 to 2011. TheProgramme Manager fur-ther informed that fourmolecular biology labora-tories have been estab-lished at Karachi,Hyderabad, Larkana andMirpurkhas. Besides,80,000 patient have beentreated against Hepatitis -C , 500 patients againstHepatitis - D and 1261patients have been treatedin Jails, he added.

Dr. Chutto furtherinformed that duringflood disaster-2010, 23camps were established in13-affected districts ofSindh province and total94,000 people were vacci-nated in the camps, Healso gave details of publicawareness.

The meeting was attend-ed among others by SindhHealth Minister Dr.Sagheer Ahmed,Secretary Health SyedHashim Raza Zaidi,Secretary to C.M SindhMr. Ahmed Bux Narejoand others.- NNI

Qaim urges measures forscreening, vaccination

against hepatitis

Staff Reporter

KARACHI: RoundtableConference proposed byPresident of the countryand co-chairman PakistanPeoples' Party Asif AliZardari is need of thehour in view of worldpolitical scenario so thatthe political and econom-ic challenges faced by thehomeland could beresolved.

This was stated bySecretary Information PPPLadies Wing Sindh,Ms.Sharmila Faruqui in astatement issued here onThursday.

"Round table conferenceis need of hour keeping inview internal and externalchallenges being faced by

the country," she saidadding the move wouldresult in collectivelyresolving the issues.

As a nation, we are fac-ing several challenges andproblems in the view ofinternational geo-politicalscenario; she said addingthat central leadership ofthe PPP had been takingright and timely steps toinvite politicians to partici-pate in roundtable confer-ence in order to evolve aconsensus on nationalissues.

All leaders and workersof the PPP wholeheartedlyendorse the holding of theroundtable conference forupholding of democracy,democratic institutions andrule of law," she said.

RTC, a must incurrent scenario,

says Sharmila

Qutubuddin

KARACHI: Speakers at aliterary sitting, organisedby the 'Qalam Dost' at theresidence of MQM MNAKhushbakht Shujaatwarned of the worst daysyet to come but were opti-mistic about the future ifmove in the right direction.

The participants andspeakers at the sittingincluded intellectuals,socialites, businessmenand politicians like MNAHaider Abbas Rizvi,,Prof.Pirzada Qasim, VCKarachi University;Nasreen Jalil, ObaidullahBeg, Ghazi Salahuddin,former VC Sindh universi-ty Mazharul Haq Siddiqi,Hakim Abdul Wahab,Prof. Sehar Ansari, ZafarHilali, Ms KhurshidHaider, Dr.Fozia Naim,Maulana Asad Thanvi, DrKhalida Ghaus, AneeqAhmed, Shujaat Ali Baigand others.

The speakers highlightedcauses behind the socialand political unrest andattributed it to economic

conditions and socialinjustices prevailing in thecountry. They said thesociety was victim ofcontradictions and headingtowards cannibalism whena man can kill you for amobile telephone set ofRs.2,000 or he is himselfready to be killed in retali-ation.

In such conditions, thegap between haves andhave-nots was widening,creating an imbalance inthe society which was frus-trating for the people.

Fear, anxiety and uncer-tainty, they said, wasincreasing due to badeconomic conditions , job-lessness and uncheckedinflux of population inKarachi. Loose writ ofthe government, uncer-tainty, worsening lawand order conditions hadall added to the chaos anddespondency. They, how-ever, expressed their opti-mism that if the massesare properly directed andnation moves in the rightdirection, a bright futureawait s us.

Speakers mootsocial-decline

Govturged tofocus oneconomic

issuesLAHORE: Former LCCIPresident Mian Anjum Nisarhas said that the governmentshould focus its attentiontowards real economicissues and come up with acomprehensive solution tothe challenges so that thebusiness community couldbe able to do their business-es with peace of mind.

According to a hand-out, he said this whilespeaking at AnnualGeneral Meeting ofLahore TownshipIndustries Associationhere on Thursday. MNANaseer Bhutta, formerLCCI Presidents MianShafqat Ali, MohammadAli Mian and newlyelected Chairman ofLahore TownshipIndustries AssociationHaroon Shafiq Chaudhryalso spoke on the occa-sion.-Online

Conf oncorrosion

managementTFD Report

KARACHI: Pakistan's 2ndInternational Corrosion andPrevention ManagementConference (ICECM2011)will be held at local hotel inKarachi on Feb 14.

According to a pressrelease issued here onThursday, Chief OrganizerKhalid Iqbal said that thisconference is being organizedby National Forum forEnvironment and Health(NFEH) and PublicityChannel in collaboration withMinistry of Industries andCommerce, Government ofPakistan, and Institution ofEngineers Pakistan.

Keynote Speaker will beAdmiral (R) Abid MujtabaMarine Corrosion Pakistan andother speakers include Dr.Rana Gulzar Pipeline expert,Dr. Khursheed mehmood,NED University, Engr. YousufMemon Reliance Swift Veritas,Dr. Shahid Aslam Exponent,Engr. Ahmed Moin UddinBerry Plastics, Capt. SarfrazInyatuallah Bureau Veritas,Engr. Osama Minhaj Hubco,A. Waheed Suddal Mass HiTech, Mohsin R Naqvi I.C.IPakistan, and other expertswould prsent their papers onbroad coverage of material andtechniques employed in corro-sion prevention.

Telenorannounces

‘KaroMumkin’projects

ISLAMABAD: TelenorPakistan has announced thenext phase of its 'KaroMumkin' initiative which isaimed at helping peoplerealize possibilities.

The two winning ideasthat emerged from therecently concluded cam-paign will now be turnedinto projects and launchedlater this year.

At a press conferenceheld at Telenor Pakistan'shead office on Thursday,the two winners shareddetails of their projects.

Fariha Ambreen spokeabout her project 'RecyclePaper to ProvideNotebooks to Schools forUnder Privileged Children'while Abdul HaqMohiuddin gave detailsabout his project 'DonateRs100 from your MonthlySalary to Make EducationPossible for StreetChildren'. The two willwork with project consult-ants and auditors Earnest &Young.

Talking about the KaroMumkin projects, UsmanJavaid, Director MarketingTelenor Pakistan said,"Telenor Pakistan is pro-viding the funds, the meansand the tools needed for theprojects to reach comple-tion with the confidencethat they will benefit thepeople of Pakistan. It hasbeen a fulfilling journeyand I am sure the spirit willinspire others to launchsimilar initiatives."-NNI

Etihad’s50,000 loyalty

programmembers

ISLAMABAD: EtihadAirways, the national air-line of the United ArabEmirates has signed up the50,000th Pakistan-basedmember in its Etihad Guestloyalty program.

The 50,000th member isMuhammad Naeem ofSialkot, who joined lastmonth during his flightfrom Lahore to Istanbul onEtihad Airways. He hasbeen awarded 50,000Etihad Guest miles as asurprise gift, says a pressrelease issued on Thursday.

Amer Khan, EtihadAirways' Country ManagerPakistan said, "Since itslaunch four years ago,Etihad Guest has attractedone million members glob-ally. Acquiring fifty thou-sand members fromthroughout Pakistan duringthis short time is a remark-able achievement".

"We continue to raise thebar in terms of innovation,benefits and rewards forour guests, as well asincrease flexibility andease in earning and burningmiles, which we believeare key factors in the stronggrowth of our membershipbase," he said.

Last year, Etihad wel-comed Bank Al-Falah, itsfirst key partner inPakistan, to its loyalty pro-gram, as well as signing upDevelopment in Literacy(DIL) as the preferred localcharity, enabling membersto donate their EtihadGuest miles.

Etihad Guest waslaunched in August 2006,and quickly establisheditself as one of the airlineindustry's fastest-growingand most innovative loyal-ty programs. Members havethe opportunity to accumu-late Etihad Guest Mileswhich can be redeemedagainst a wide selection ofup to 2,900 flight and non-flight rewards from the air-line's award-winningReward Shop, which fea-tures products from morethan 200 partners.- NNI

KARACHI: Rangers and fire fighting vehicles parked outside the head office of Sui Southern

Gas after the report of fire on the top floor of the building.-Online

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah presiding over a meeting regarding

Hepatitis Programme at Chief Minister House.-APP

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to members of National Commission on the Status of Women

who called on him.-APP

TV PROGRAMMES

FRIDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:00 News

11:30 Hal Kya Hai (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

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Awam Ki Awaz

23:00 News

23:30 24

Free medicalcamp by

ICMAPKARACHI: KarachiBranch Council (KBC) ofthe Institute of Cost andManagement Accountantsof Pakistan (ICMAP) havearranged a Free MedicalCamp to provide free med-ical services on Feb 13, atICMAP Head Office,Karachi from 10a.m. to 5p.m.-PR

MUMBAI: The Indianrupee weakened for the sec-ond straight day onThursday, weighed by weakdomestic shares and dollardemand from oil refiners onthe back of an increase inglobal oil prices.

A firm dollar overseasalso hurt the Indian unit.

The partially convertiblerupee closed at 45.725/735per dollar, 0.5 per centweaker than Wednesday'sclose of 45.475/485.

"The rupee was partlydown because of the declinein the stock market andpartly due to dollar move-ments. I think the rupeeshould improve with thestock market," saidAshutosh Khajuria, head oftreasury at IDBI Bank inMumbai.

Traders said the rupee islikely to trade in a range of45.65-45.85 on Friday, afteropening around 45.70.

"Earlier in the week, therewere inward remittances

that kept the rupee strong.That supply seems to havedied out for now," a dealerwith another state-run banksaid.

One-month offshore non-deliverable forwards con-tracts were at 46.00, weakerthan the onshore spot rate.

In the currency futuresmarket, the most tradednear-month dollar-rupeecontracts on the NationalStock Exchange, MCX-SXand the United StockExchange closed at45.8325, 45.8375, and45.8375, respectively. Totalvolume was $5.96 billion. -Reuters

Indian rupee endsdown on weak shares

3Friday, February 11, 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 10/02/2011

A USD GBP CAD EUR JPY

O/N 0.23400 0.55688 0.95500 0.97125 SN 0.10688

1WK 0.25250 0.57750 1.00000 0.93500 0.11500

2WK 0.25750 0.58625 1.03417 0.91000 0.11813

1MO 0.26400 0.61688 1.08000 0.87875 0.12750

2MO 0.28800 0.68313 1.14750 0.92938 0.15438

3MO 0.31200 0.80500 1.21000 1.04813 0.18875

4MO 0.35200 0.88688 1.27250 1.11750 0.24188

5MO 0.41000 0.99125 1.33917 1.19938 0.30000

6MO 0.46470 1.10813 1.40333 1.29250 0.34625

7MO 0.51800 1.18850 1.49083 1.35125 0.39375

8MO 0.57025 1.27288 1.56667 1.40063 0.44313

9MO 0.62975 1.35600 1.63833 1.46500 0.48750

10MO 0.68425 1.43500 1.72667 1.52000 0.51438

11MO 0.73400 1.50313 1.81000 1.57375 0.54125

12MO 0.79700 1.57188 1.90000 1.63875 0.56750

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

U.S.A. 85.25 85.05 84.87U.K. 137.24 136.92 136.61EURO 116.86 116.58 116.30CANADA 85.64 85.44 85.21SWITZERLAND 88.84 88.63 88.40AUSTRALIA 86.01 85.81 85.58SWEDEN 13.23 13.20 13.17JAPAN 1.03 1.03 1.03NORWAY 14.78 14.74 14.71SINGAPORE 66.84 66.68 66.51DENMARK 15.67 15.64 15.60SAUDI ARABIA 22.73 22.68 22.62HONG KONG 10.95 10.92 10.89CHINA 12.94 12.91 12.88KUWAIT 304.08 303.37 302.57MALAYSIA 28.03 27.96 27.89NEW ZEALAND 65.75 65.60 65.43QATAR 23.41 23.35 23.29U.A.E. 23.21 23.16 23.09KR WON 0.08 0.08 0.08THAILAND 2.77 2.77 2.76

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3589 1.3591 1.3736 1.3581

USD-CHF 0.9657 0.9661 0.9673 0.9577

GBP-USD 1.6036 1.6041 1.6110 1.6014

USD-CAD 0.9961 0.9966 0.9985 0.9934

AUD-USD 1.0025 1.0029 1.0133 1.0024

EUR-JPY 112.9500 112.9800 113.2200 112.6300

EUR-GBP 0.8476 0.8479 0.8529 0.8471

EUR-CHF 1.3129 1.3132 1.3174 1.3088

GBP-JPY 133.2800 133.3400 133.3200 132.5500

CHF-JPY 86.0100 86.0700 86.1100 85.7000

Gold 1354.3500 1354.9300 1364.6500 1351.8300

As per 22.00 PST

Time Source Events Forecast Previous

All Day JPY Bank Holiday

12:00 EUR German Final CPI m/m -0.5% -0.5%

12:00 EUR German WPI m/m 0.9% 1.8%

12:45 EUR French Prelim Non-Farm Payrolls q/q 0.2% 0.1%

14:30 GBP PPI Input m/m 1.3% 3.4%

14:30 GBP PPI Output m/m 0.4% 0.5%

18:30 CAD Trade Balance -0.4B -0.1B

18:30 USD Trade Balance -40.4B -38.3B

19:55 USD Prelim UoM Consumer Sentiment 74.8 74.2

19:55 USD Prelim UoM Inflation Expectations 3.4%

Source Events Actual Forecast Previous

JPY Core Machinery Orders m/m 1.7% 5.1% -3.0%

JPY CGPI y/y 1.6% 1.4% 1.2%

AUD MI Inflation Expectations 4.3% 4.6%

AUD Employment Change 24.0K 18.4K 1.8K

AUD Unemployment Rate 5.0% 5.0% 5.0%

GBP Manufacturing Production m/m -0.1% 0.5% 0.6%

GBP Industrial Production m/m 0.5% 0.5% 0.6%

GBP Asset Purchase Facility 200B 200B 200B

GBP Official Bank Rate 0.50% 0.50% 0.50%

CAD NHPI m/m 0.1% 0.6% 0.3%

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada March 1, 2011 September 8, 2010 1%

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

Bank of Japan February 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 March 1, 2011 November 2, 2010 4.75%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, February 10,2011 Treasury Management Division of National Bankof Pakistan (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 12.65 13.15 12.70 13.20 12.80 13.30 13.35 13.60 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 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

ASPK 12.80 13.30 12.90 13.40 12.90 13.40 13.40 13.65 13.55 13.80 13.65 14.15 13.75 14.25 13.80 14.30

CIPK 12.80 13.30 12.80 13.30 12.85 13.35 13.35 13.60 13.55 13.80 13.65 14.15 13.80 14.30 14.10 14.60

DBPK 12.70 13.20 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 12.90 13.40 12.85 13.35 12.85 13.35 13.45 13.70 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.80 13.30 12.85 13.35 12.85 13.35 13.40 13.65 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 12.85 13.35 12.85 13.35 12.90 13.40 13.45 13.70 13.55 13.80 13.65 14.15 13.75 14.25 13.85 14.35

HKBP 12.70 13.20 12.85 13.35 12.95 13.45 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 12.65 13.15 12.85 13.35 13.10 13.60 13.35 13.60 13.45 13.70 13.55 14.05 13.65 14.15 13.75 14.25

HMBP 12.80 13.30 12.90 13.40 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 13.00 13.50 12.80 13.30 12.95 13.45 13.35 13.60 13.55 13.80 13.65 14.15 13.75 14.25 13.85 14.35

MCBK 12.80 13.30 12.80 13.30 12.80 13.30 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.75 13.25 12.75 13.25 12.80 13.30 13.40 13.65 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.65 13.15 12.70 13.20 12.70 13.20 13.30 13.55 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

UBPL 12.75 13.25 12.85 13.35 12.90 13.40 13.40 13.65 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.77 13.27 12.82 13.32 12.86 13.36 13.38 13.63 13.52 13.77 13.63 14.13 13.75 14.25 13.84 14.34

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)10/02/2011

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

1 week -0.73 -0.30 0.88 0.99 0.81 0.93 0.39 -0.941 month 0.00 0.53 0.86 0.84 0.34 0.33 0.65 -0.863 months 0.29 0.10 0.38 0.58 0.08 0.34 0.12 -0.406 months 0.65 0.43 0.75 0.92 0.53 0.58 -0.39 -0.651 year 0.18 0.60 0.78 0.68 -0.02 -0.02 -0.22 0.002 years -0.33 0.68 0.66 0.55 -0.05 -0.32 0.42 0.20

Currencies CorrelationEUR/GBP

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.75 13.20 13.00 12.80 13.00 13.00 12.96

8-15dys 12.90 12.95 12.95 12.90 13.00 12.90 12.93

16-30dys 13.00 13.05 12.95 13.00 13.00 12.90 12.98

31-60dys 13.10 13.05 13.10 13.05 13.10 13.10 13.08

61-90dys 13.43 13.42 13.42 13.39 13.25 13.40 13.39

91-120dys 13.50 13.47 13.50 13.50 13.45 13.50 13.49

121-180dys 13.55 13.53 13.58 13.55 13.50 13.55 13.54

181-270dys 13.65 13.63 13.64 13.66 13.60 13.65 13.64

271-365dys 13.75 13.75 13.79 13.75 13.70 13.75 13.75

2-- years 14.05 14.10 14.08 14.00 14.05 14.00 14.05

3-- years 14.15 14.20 14.24 14.22 14.22 14.22 14.21

4-- years 14.18 14.25 14.25 14.25 14.22 14.20 14.23

5-- years 14.22 14.25 14.27 14.26 14.23 14.23 14.24

6-- years 14.23 14.30 14.29 14.28 14.30 14.27 14.28

7-- years 14.24 14.30 14.31 14.30 14.35 14.33 14.31

8-- years 14.25 14.25 14.25 14.30 14.23 14.26 14.26

9-- years 14.26 14.15 14.17 14.20 14.20 14.21 14.20

10--years 14.27 14.26 14.25 14.26 14.25 14.26 14.26

15--years 14.60 14.55 14.60 14.65 14.55 14.70 14.61

20--years 14.80 14.70 14.70 14.90 14.75 14.85 14.78

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for February 10, 2011

NEW YORK: The dollar rose broadly onThursday, boosted by data showing newUS jobless claims hit a 2-1/2-year low,while the euro slumped on worries overEurope's lack of progress in tackling itsdebt crisis.

The dollar rose for a seventh straight dayagainst the yen. while the Swiss franc fellas safe-haven demand faded on reportsthat Egyptian President Hosni Mubaraklooked likely to step down later Thursdayand helped to push the greenback to a one-month high. Traders said a recent spike inUS yields may prompt further dollar gainsin the days ahead.

The euro hit a $1.3578 session low, withsupport seen at $1.3541, the 100-day mov-ing average. It pared gains by midday inNew York and was last down 0.7 per centat $1.3628. One-month implied optionsvolatility fell to a five-month low, howev-

er, suggesting the scope of subsequentmoves may be limited for now.

The dollar was up for a seventh straightsession against the yen, nearing a one-month high at83.29 yen beforeeasing to 83.10yen, up 0.8 percent. Tradersexpect higherUS yields to pullcapital out ofJapan.

"There are indications that the Japanesecapital flow picture is changing in a direc-tion consistent with yen weakening," saidJens Nordvig, global head of G10 FXstrategy at Nomura SecuritiesInternational. "We are looking for opportu-nities to go long dollar-yen."

Sterling fell as low as $1.6011 overnight

after the Bank of England left interest ratesat record lows despite chatter about a pos-sible hike, though it recovered by middayin New York to trade up 0.1 per cent at

$1.6124. US claims for first-time jobless benefits

fell more than expected in the latest weekto a 2-1/2-year low, data showed.

The euro, which hit a 12-week highabove $1.38 earlier this month, struggledas investors drove Portuguese bond yieldsto their highest level since the currency

was introduced in 1999.Portugal is considered at risk of becom-

ing the next euro-zone country to need abailout, and investors are anxious about alack of progress by policymakers inaddressing a euro-zone debt crisis.European leaders will meet next month todiscuss bolstering a 440-billion eurobailout fund. Traders said the EuropeanCentral Bank (ECB) helped stem the risein yields through direct bond purchases.

Barclays Capital strategist RaghavSubbarao said renewed concerns aboutEurope's debt crisis could complicatefuture ECB efforts to lift interest rates.

Bundesbank chief Axel Weber, a knownpolicy hawk, will not succeed Jean-ClaudeTrichet as president of the EuropeanCentral Bank, according to reportsWednesday, boosting doubts about a euro-zone rate hike. -Reuters

US yields, data boost dollar,debt woes hit euro

SHANGHAI: The yuanclosed higher against thedollar on Thursday after thePeople's Bank of China setanother record high dailyfixing amid renewed pres-sure from US lawmakers forBeijing to unshackle its cur-rency.

The central bank appearedto send a strong signal to themarket that the governmentwas more willing to let theyuan appreciate by fixing itsdaily mid-point at a recordhigh of 6.5849 to the dollar,up one pip fromWednesday's 6.5850.

China's recovering econo-my is also giving the author-ities more confidence tocarry out more currencyreform, traders said.

"Although Thursday's fix-ing was only one pip higherthan Wednesday's, it wasnevertheless among a slewof record high fixings thisyear," said a trader at a USbank in Shanghai.

A bipartisan group of USlawmakers planned to begina new drive on Thursday forChina currency legislationthat was approved last year

by the House ofRepresentative but failed inthe Senate.

Spot yuan closed at 6.5865against the dollar, up from6.5938 at Wednesday'sclose. It has now risen 3.64per cent since its depeggingfrom the dollar in June2010.

The currency is expectedto rise steadily in the nearterm and is seen appreciat-ing 5 to 6 per cent in 2011based on China's economicstrength and its increasingwillingness to move to amore flexible exchange rateregime, traders said.

Offshore, benchmark one-year dollar/yuan non-deliv-erable forwards were bid at6.4340, up from 6.4250 atWednesday's close. Theirimplied yuan appreciation ina year's time fell to 2.35 percent from 2.49 per cent.

Dollar/yuan offshore for-wards have generally stageda lacklustre performance sofar this year, partly becausesigns of a US economicrecovery pushed hedgefunds to reallocate theirassets, traders said. -Reuters

Yuan ends higheron cbank guidance

LONDON: Sterling recoveredon Thursday from a session lowagainst the dollar hit after theBank of England kept interestrates on hold, on strong expecta-tions that high inflation will forcea policy tightening by mid-year.

Traders said speculators liqui-dated some long positions theyhad built in the last few weeks butsterling found solid support, withcentral banks and leveraged

accounts cited as buyers at lowerlevels.

Sterling was at $1.6052, havingfallen to a session low of $1.6011soon after the BoE announce-ment. Chartists say there is sup-port at $1.6014, which is the 50per cent retracement of its movefrom a low of $1.5750 on Jan. 25to its recent three-month high of$1.6279 on Feb. 3.

The BoE had been widelyexpected to keep rates at 0.5 percent, but markets had priced in a20 per cent chance of a rate rise.Traders said the hawks who wereexpecting that had cut their posi-

tions, leading to a brief dip insterling.

"The money markets were pric-ing in a 20 per cent chance of ahike, but no one really expectedthe BoE to go," said Chris Turner,head of FX strategy at ING.

"The inflation report from theBoE is due next Wednesday andwe expect them to be prettyhawkish there. So sterling will besupported by expectations of

interest rate hikes. We see it at$1.70 by the end of the summer."

Minutes of the BOE's recentpolicy meetings have recordeda more hawkish tone, with twomembers voting for a rate hikelast month. The minutesshowed Martin Weale hadjoined Andrew Sentance in vot-ing for rates to be raised, givingsterling bulls a huge boost.

The euro fell more than 0.6per cent to 84.72 pence, withnear term support seen near its200-day moving average whichcomes in at 84.529 pence. -Reuters

Sterling reboundson rate outlook

SINGAPORE: The SouthKorean won and Philippine pesofell against the dollar onThursday as foreign investorsdumped domestic equities in thecountries and covered betsagainst the US currency beforecentral bank policy meetings.

Other Asian currencies alsodeclined on profit-taking, afternearly a week of appreciating onrelief that policymakers were tak-ing action to keep price pressuresat bay. The won and peso mayhave room to slide further if theBank of Korea (BoK) and BangkoSentral ng Pilipinas (BSP) do notraise interest rates and acknowl-edge the building inflationary fac-tors in their economies, analystsand dealers said.

The Philippines' central bank

will likely keep its overnight bor-rowing rate steady at a record lowof 4.0 per cent, while the marketview remains spilt over if theSouth Korean central bank willraise rates. The BSP was set toannounce the result of its ratemeeting at 0800 GMT and theBoK will release its decision onFriday. Dollar/won rose as for-eign investors posted theirbiggest daily stock sales in threemonths and offshore investorscovered dollar short positions.

Local players added long dol-lar/won positions, although thepair found some resistance asexporters sold dollars for settle-ments. Still, the dollar/won wasexpected to rise more on expect-ed demand linked to foreigners'stock sales and if the Bank of

Korea keeps interest rates onhold. The one-year cross curren-cy rate fell 15 basis points to 2.00per cent reversing its earlier gainsto its highest in more than twoyears lifted by rate rise views.

Foreign investors dumped a net1.1 trillion won ($988 million)worth of stocks, the largest dailysales since Nov. 11 last year.

Dollar/peso rose as foreignfunds' demand caused local play-ers to cover short positions.Investors also added long dol-lar/peso positions on expecta-tions that the BSP will keep rateson hold.

Foreign investors have been netsellers until Wednesday so farthis month in the country's stockmarket, which was down 2.7 percent on the day. -Reuters

Asian currencies

Won, peso down on outflowsbefore rate meetings

WELLINGTON/SYDNEY: The Australian dollarslipped to a one-week low on Thursday and furtherlosses threatened as jobs data proved firm but notso strong as to add to the chance of a rate hike any-time soon.

The Australian dollar shed half a cent to $1.0068in the wake of the jobs report, and seemed destinedto test support around $1.0055, if not at $1.0002.

"The market is long and today showed signs oflooking sated," said Robert Rennie, chief currencystrategist at Westpac Institutional Bank. The cur-rency jumped back above parity over a week agobut has been unable to extend the rally past$1.0200.

"I question where the next piece of good news isgoing to take us. I would not be surprised to see amove to sub-parity in the next few days."

The Aussie might find support from ReserveBank of Australia (RBA) Governor Glenn Stevenswho testifies to parliament on Friday and is likelyto stay upbeat on the economic outlook.

The domestic data also looked fine with employ-ment rising 24,000 in January to beat forecasts of a

15,000 gain despite massive flooding inQueensland. The jobless rate also stayed at a two-year low of 5.0 per cent, giving proof of the under-lying strength in the economy.

But the data were not so strong as to challengeexpectations the Reserve Bank of Australia (RBA)will likely be on hold for a few months more.

Interbank futures imply around a one-in-threechance of a hike in the 4.75 per cent cash rate byJune and a single move is fully priced by October.

The euro nudged higher against the Aussie toaround A$1.3592, and held firm on the kiwi ataround $1.7780.

Across the Tasman sea, the New Zealand dollarnudged down to around $0.7710/20.

"All up, we continue to look for short-term NZdollar rallies to fade ahead of $0.7800/50. Initialsupport is eyed on dips towards $0.7680," saidBNZ currency strategist Mike Jones.

The kiwi edged higher against the Aussie toNZ$1.3070 after the Australian jobs data. Supportfor the pair is seen at NZ$1.3030 with resistance atNZ$1.3215 range. -Reuters

Aussie down despiteupbeat job data, NZ$ eases

Swiss franc

soft vs euro, $ZURICH: The Swiss francwas soft against the dollar andeuro on Thursday ahead ofSwiss consumer price data asinvestors' grew more confidentabout the global economy andinvested less in safe haven cur-rencies such as the franc.

Markets will watch Swissconsumer prices for signs thatinflation pressures are pickingup, which could lead the SwissNational Bank to move eventu-ally towards higher interestrates.

But the main driver for thefranc was risk appetite at themoment, analysts and traderssaid. "We have seen lessdemand for safe haven curren-cies in recent days," CreditSuisse analyst Sven Schubertsaid. "The focus has been moreon stronger economic datafrom core euro-zone countriesand positive surprises in theUnited States."

The franc was largelyunchanged against the eurocompared to the New Yorkclose, trading at 1.3141 pereuro at 0725 GMT after havinglost some 1.5 per cent over thelast two days. The franc was0.3 per cent weaker against thedollar at 0.9608 per dollar.

"The euro-franc could beheading for 1.3250 near-term,"said Informa Global Marketsanalyst Tony Nyman. -Reuters

Won suffers from foreigners' biggest stock sales in 3-mths

Doubts over policy for euro-zone crisis dent sentiment

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

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Give Zardaristrength to

take USpressure

Raymond Davis issue seems to be thebiggest spoiler of Pakistan-US relationship forthe time being. Not only cracks have starteddeveloping between the friendship bonds butvisit of President Asif Zardari to US alsoseems in doldrums. Some of the opponentsand critics of US influence on Pakistan's inter-nal politics have already started demandingdeferment of President's US trips on thegrounds that he may face some adversities,probability also can't be ruled out. However,some of the quarters believe that the Presidentand as well The Government of Pakistan mustface the situation courageously.

President can face the US pressure effective-ly only if he goes there with a clear agendabacked by all the political parties. Presidenthas already expressed the desire to call AllParties Conference (APC) and also startedrenewing his contacts with the leading politi-cians. Though, there may be pressure on himto call off the visit, it will be 'ostrich like'approach. Pakistan may face many challengesbut can withstand all sorts of aggressions onlyif the nation stands united. Till today many ofthe political leaders have been saying that thesuccessive governments had proved too feeblebefore the US pressure, be it defendingAfghanistan against the USSR assault or join-ing the US war on terror, mainly initiated tohunt Osama.

Almost all the political parties who hold ex-president, Pervez Musharraf responsible forplunging Pakistan into 'the US war on terror'now have the responsibility to form a census-es strategy to face the US pressure, be itrelease of Raymond or stopping of droneattacks in Pakistani areas having commonborder with Afghanistan. The GoP hasrepeatedly told the US government if it hasany information about presence of 'outlaws'in any of the Pakistani area, it must be sharedand taking the action against those isPakistan's prerogative.

Pakistan is not alone in raising the issue ofthe 'excesses' forces, paramilitary personneland even notorious agencies like Blackwater.Similar issues have been raised in Iraq andAfghanistan and some of the accused werefound guilty and punished. There is an oldsaying about the Americans 'you may have allthe arguments but I have the last argument'danda' (might).

Historically, the US administration has beenfollowing 'carrot and stick policy' to get con-trol over the countries. However, most of thetime rulers and selected elites get the carrotand public at large is driven by the stick andPakistan has not been an exception.

Similarly, the US administration has beeninvolved in overthrowing various regimes andsome of the victims have been Raza ShahPelhavi of Iran, Marcos of Philippines andSaddam Hussain of Iraq. Hosni Mubarak isalso become a history shortly. From Pakistan,two of the autocratic rulers, Ziaul Haq andPervez Musharraf have met the same fate.Every political leader of Pakistan mustremember, united we stand to survive anddivided we can face what Sudan is goingthrough. The choice is ours.

4Friday, February 11, 2011

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 Sabir

Head office

111-C, Jami Commercial Street 11, Phase VII, DHA KarachiTelephone: 92-21-35311893-6 Fax: 92-21-35388428

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Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 179

Javaria Tareen

No society is complete withoutwoman whether she is mother,daughter, sister, wife or any

other relative to a man. Islam has givenwomen a special respect but unfortu-nately, in tribal and rural societies,they are being victimized in the nameof customs and traditions. It is realitythat women are being subjugated ofviolence in many parts of the countrylike it was done in the era of ignorance.

Karo-kari, Wanni and Watta Satta aretyranny and inhuman customs. Womenare being subjugated of rape, gangrape, domestic violence, forced laborand other atrocities in such societies.These cruelties on women are not onlyviolation of Islamic teachings andprinciples of justice but have alsobecome a major hurdle in economicgrowth of the country.

It is noted that women are not onlyfacing torture in rural areas but also inurban populated areas. No rule of lawin the society had created a lot of prob-lems for women.

When I studied reports on violenceon women compiled by human rightsorganisations and registration of caseswith police against such violence, Iwondered how women were beingtreated in a merciless way.

I called on Inspector General PoliceBalochistan Malik Iqbal, representa-tives of non-governmental organiza-tions working on women rights andother stakeholders who provided medata on violence on women during2010. I was informed that 144 inci-dents of torture on women were report-ed in Balochistan in 2010, and 22 ofKaro-Kari, 32 of rape, 2 of acid throw-

ing and 87 of domestic violence andharassment.

About 46 incidents of violence onwomen were reported in Quetta, themetropolis of Balochistan, 38 inJaffarabad and 21 in Nasirabad. Seniorpolice officials told me that less num-ber of incidents of violence on womenwas registered with police in 2010 than2009 as 100-year old Levies Force sys-tem was restored by the provincialgovernment in 2010. They indicatedsome flaws in Levies Force system asit lacks of proper arrangement to keepfigures and record on violence onwomen.

They further told that 149 incidentsof torture on women were reported in2009, and 22 of Karo-Kari while 50women were murdered in the name ofKaro-Kari during that year.

During my research, I found out thatmost of incidents of violence onwomen took place in EasternBalochistan's districts of Jaffarabadand Nasirabad. Aurat Foundation'sofficials told me that a total of 79incidents of violence on women werereported in Balochistan in 2010 incomparison with 237 such incidentsin 2009.

They viewed that raging and worstever floods that wreaked havoc inNasirabad and Jaffarabad districts dis-placed hundreds of thousands of fami-lies in 2010 and as a result, less num-ber of incidents of violence on womenwere reported.

During 2010, about eight womenwere murdered in the name of honor inNasirabad and Jaffarabad districts, sixin Bolan and four in Jhal Magsi dis-tricts while total 36 women were killedin violence. The killers of these ill-

fated women included father, brother,husband and close relatives. Sixteenwomen were killed in other incidentsincluding four in Quetta city. Two inci-dents of domestic violence on womenwere reported in Bolan, and one eachin Quetta and Jaffarabad.

Seven desperate women committedsuicide in 2010 including two inQuetta and Nasirabad districts respec-tively, and one each in Jhal Magsi,Zhob and Nushki districts.

Incident of kidnapping a woman wasreported in Sibi district in 2010 and sixincidents of rape and gang rape werereported including three fromJaffarabad district and one each fromQuetta, Zhob and Khuzdar districts.One woman was set on fire in JhalMagsi district and two were murderedin Nasirabad district. It was first timein 2010 that acid was hurled on womenin Balochistan. Two women in Kalatdistrict and two in Chagai districtbecame victims of acid throwing.

Unknown heartless men threw acidon two orphan and real sisters in KilliHashim of Tehsil Dalbandin in Chagaidistrict in April 2010 when they cameout of their home to purchase somedomestic items from nearby shop. Afterthree weeks, another acid throwingincident occurred in Kalat district, inwhich unidentified men riding on bikehurled acid on three girls identified asSaima,8, Shakila,14 and Fatima,20.

All these victim girls received burninjuries in their face and body. It ispertinent to mention here that a bannedorganization claimed for responsibilityof throwing acid on these girls, warn-ing other women that they would haveto face such ruthless attacks if theycome out of their homes without their

any relative. Although, the governmenttook notice of the cruelty but noaccused of the heinous crime wasarrested so far while the incident creat-ed a panic amongst women.

A six-year-old little girl was victim-ized of gang rape in Quetta on June 30,2010.

During my meeting with IGPBalochistan Malik Iqbal to get detailson violence on women, he was of theopinion that due to low literacy rateand lack of awareness, incidents ofviolence on women took place inBalochistan. He further said tribal tra-dition of keeping women indoors wasalso an obstacle in access of women tocourts and resultantly, they wereforced to suffer atrocities on them.

He said Britain rulers in the regionused police for their power that causeda 'distance' between police and masses.

Replying to my query, he said therewas no women police station inBalochistan while the provincial policealso lacked women personnel. He,however, said a women police stationand special cell for women will beestablished in Quetta city. He recalledthat every district of Punjab provincehad lady police personnel adding thatwomen were also being encouraged inBalochistan to join police department.The Balochistan Police chief empha-sized the need that victim womenshould be provided legal aid by bothgovernment and NGOs.

Jurisdiction in limited area of theprovince as other regions had goneunder control of Levies Force fromApril 2010. He observed that LeviesForce usually deal with violence onwomen following the tribal customsand traditions.

Victimisationof Women

US mustact wisely

How to alleviate poverty

Being the sole superpower, US has ahistory to dictate its right or wrong termsto other countries. Actions are taken inshare arrogance and later on its top brassregrets on their wrong doing. Freshexample is the former US defence secre-tary Rumsfeld who expressed regrets onthe inhuman handling/ treatment by theAmericans with the prisoner ofGuantanamo or Abu Ghuraib. Similarly,defence secretary McNamara describe theVietnam was as "terribly wrong".Handling Iraq, Afghanistan, nuclear dealwith non signatory India, and closingeyes on Palestinian and Kashmir prob-lems are a matter of concern for theworld.

Another incident of arrogance is beingseen by the so called democratic champi-on America which is pressurizingPakistan to release a murderer whosecase is in the court. I am not going tocompare this case with anyone but USAhas to respect the law/courts of othercountries if it wants the respect of itscourts. History tells us that the problemsare never solved with force but unfortu-nately, it is true "What we learn from his-tory that we never learn from history."

Shahid Zahur, Rawalpindi

Blast inMardan

The recent wave of bomb blasts and ultimate confes-sion by some outfits are deplorable and pathetic. Thosewho accept responsibility of such attacks are at ultravires with basic teachings of Islam. These lamentableactions are outcome of feeble minds who have no respectfor life and religion. Suicide blast in Mardan on Feb 10took more than 28 innocent lives of security personneland injured many. These bomb blasts have injected moreterror and fear in public as well as security forces. Wedon't know why our brothers are being butchered so ruth-lessly for untold crimes. Our country has become a fireball from east to west and north to south with no place tohide in. We have our enemies within us garbed asfriends. To curb this nuisance, we all have to stand upand defend ourselves and our Homeland, before its toolate. Education at the grass-roots level will only servethe propose. We all are Muslims and our Religion teach-es us lesson of Peace and tranquility within and without.Being true Muslims, the clerics should come forward,and lead the battle against terrorism by diffusing wrongbeliefs and notions. Loss of human life has not only tar-nished the image of our country in world but also causedhavoc to foreign investment in Pakistan. Being subject tosocial and economic turmoil because of terrorist attacks,the security conditions have further impoverished.Meaningful efforts should be made by the government toovercome this menace.

Iftikhar Shaheen Mirza, Islamabad

Referendum in Sudan;why not in Kashmir

As per the results of a referendum held in Jan 9 to 15 more than 98% of southern Sudanese (mostly Christian)opted for independence. In July 2011, it will be a separate nation, ending more than two decades of north/southcivil war. If we recall East Timor again a Christian document area got independence in 2002 from Indonesia.Unfortunately Kashmiris are striving for their right of self-determination which was guaranteed to them by the UNResolution in 1948. USA was the major player in the commission which drew up the resolution. InnocentKashmiris are suffering since last 63 years but due to vested economic interests the world is not putting pressureon India to hold a referendum. These double standards create despondency, deprivation and anger among theyouth. There is a need that the world in general and US in particular which is on driving seat must fulfill their obli-gations and solved this oldest dispute. The peace and stability in this region can only come once and for all suchdisputes are solved on priority. Shahid Zahur, Rawalpindi

A Question to CJof US Supreme Court

Honourable Chief Justice of the Supreme Court of USA, I am sure there in the United States of America you are notused to exercising your suo moto powers because you are satisfied with the rule of law and the institutions of stateresponsible for implementing the law. But can't you just privately object to what the Obama administration is unlaw-fully forcing Pakistan to release and hand over an American who killed two Pakistanis in the broad-day light, not onthe American soil but on the soil of another sovereign state, Pakistan? Your lordship must have remembered that youand your fellow judges, jurists and lawyers across America appreciated the role of Pakistan Chief Justice, JusticeIftikhar Chaudhry, and garlanded with medals of Honor when he was invited to America. The words of felicitationincluded "that Justice Chaudhry withstood all kind of pressure and didn't budge." Your honor, don't you think Pakistan'swithstanding your government's pressure is wise and in accordance with the international law of sovereign rule?

What would have been yours and your government's reaction if the similar kind of crime was committed by aPakistani national on the American soil? Oh, sorry bothering you, we have already seen the sanctity of the rule oflaw, justice and wisdom in case of Dr Aafia Siddiqi. Dr Sher Khan, Peshawar

JUST KIDDINGDo you know Rehaman Malik? Bala the best friend of mine asked me. I looked towards him astonish-

ingly and shoot up but why? I know only that he was an efficient Minster of present government andresigned the other day and that's all. OK, do you know some one who can arrange my meeting withRehman Malik, Bala again asked me.

It was an irritating question for me and I taunted him have you gone mad because your son is leavingyou for good due to some indifference on his marriage issue and you have failed to resolve your differ-ences. The innocent Bala from Gujjar community with filthy rich social background in his native villagetold me discretely in low tone that in Pakistan Rehman Malik can negotiate any one and get his termsaccepted. He can bring my son back on my terms and he can also resolve decade's long disputes betweenpeople. I started watching him with my eyes much wider than normal because he was serious.

I recalled my memory. Bala was all together right as at many occasions this gentleman negotiated withthe leaders of an urban party considered skilled in negotiations, hardliner molvies who do not accept oth-ers point of view and tough Pakhtuns considered rigid in thoughts and remained successful.

Whenever, there was a crisis the man was leading with his fire extinguisher skills settling the crisis. Todayhe negotiated with annoyed PIA employee and remains successful.

Now people says he is shortly going to USA to settle the differences arriving on Raymond Davis issuebecause things can not be handled by anyone else in more efficient manner than him. I am jealous with hisskills and feel that after some time he will be called by whole Pakistani people to settle their day to dayconflicts on domestic end such as marriage separation issues, land dispute between people and you may seepeople asking Rehman Malik on roads side right after traffic accidents to come and settle.

Hats off to Rehman Baba!Fahim Akhtar, Karachi

I firmly believe that only the people living in the country can make it better. We all should contributewhatever we can, big or small.

Last year, my book, "Ghurbat kaise mit sakti hai," was published. Now Classic Publishers is bringing outits second edition. It offers a very practical plan for the permanent eradication of poverty. It is the best pos-sible manifesto for a party that wants to come into power -- or remain in power for a long time.

I may not live long enough to see my plan's implementation but I have the satisfaction of making my bestpossible contribution in return for what the society has been giving me all my life. Wajahat, Lahore

FERTILISER000 tonnesUrea Offtake (Jan to Nov 10) 5,463Urea Offtake (Nov 10) 845Urea Price (Rs/50 kg) 870DAP Offtake (Jan to Nov 09) 121DAP Offtake (Nov 10) 152DAP Price (Rs/50 kg) 3,137

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Nov 10) 33,929

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

INDUS MOTOR COProduction (July 10 to Nov 10) 20,987

Sales (July 10 to Nov 10) 20,375

Production (Nov 10) 3,974

Sales (Nov 10) 3,753

HONDA ATLAS CARProduction (July 10 to Nov 10)6,626

Sales (July 10 to Nov 10) 6,247

Production (Nov 10) 1,145

Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORSProduction (July 10 to Nov 10) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

BANKING SECTORScheduled bank (Rs in mn)Deposit (December 3,10) 4,824,464

Advances (December 3,10) 3,050,639

Investments (December 3,10) 1,916,917

Spread (October 10) 7.49%

OIL MARKETING CO(000 tons)MS (Jul 10 to Nov 10) 932

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

Fuel Oil (Jul 10 to Nov 10) 3,641

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (Nov 10) 1

PRICES (Ex-Refinery) RsMS (1 Dec 10) 45.15

MS (1 Nov 10) 44.53

MS % Chg 1.39%

Kerosene (1 Dec 10) 52.04

Kerosene (1 Nov 10) 51.25

Kerosene % Chg 1.54%

JP-1 (1 Dec 10) 52.27

JP-1 (1 Nov 10) 51.48

JP-1 % Chg 1.53%

HSD (1 Dec 10) 55.20

HSD (1 Nov 10) 54.24

HSD % Chg 1.77%

LDO (1 Dec 10) 50.52

LDO (1 Nov 10) 49.51

LDO % Chg 2.04%

Fuel Oil (1 Dec 10) 43,019

Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)LOTPTA 16.18 7.77 SSGC 26.47 5.97 NCL 25.28 5.85 AMMF 11.10 4.10 PIF 7.69 3.62

Symbol Close ChangeRMPL 2,890.30 99.47

UPFL 1,276.51 60.78

WYETH 1,065.00 35.00

IDYM 292.14 8.14

ILTM 121.54 5.78

Symbol Close ChangeULEVER 4,340.53 -31.47SIEM 1,069.89 -30.11FZTM 400.91 -21.1COLG 900.00 -15LAKST 250.51 -10.5

Plus 142Minus 237Unchanged 17

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Friday, February 11, 2011 5

Dhiyan

Trade would be on a short leash in the coming days. Index wouldmost likely shuttle between 300-400 points as there is no majorpositive news down the line. Even so, we might see a rally at12,000-12,100 level. Investors are recommended to adopt 'buy ondips' strategy and invest in those stocks of oil, banking, and fertilis-er sectors offering good payouts. Launch of Margin TradingSystem (MTS) would be the only factor that can support the mar-ket. Trade would be dull today.

Farhan Mansuri, VP Capital Markets Arif Habib Limited

Muzzammil Aslam, Head of Research JS Global CapitalIn the absence of triggers market is expected to remain in the

range moving forward, most probably trading around 12,000levels. As far as Margin Trading System (MTS) is concerned, ifits modalities are favorable to market participants then it wouldhave a positive impact on the market. Investors are advised towait and stay on the sidelines till the regional stock markets set-tle down. Market would be mixed today.

A DULL DAY OF ALL TRENDS

Opening 12,299.28

Closing 12,187.47

Change 111.81

% Change 0.91

Turnover (mn) 89.82

Opening 3,723.52

Closing 3,654.11

Change 69.41

% Change 1.86

Turnover (mn) 2.28

Opening 3,025.10

Closing 2,992.26

Change 32.84

% Change 1.09

Turnover (mn) 0.02

KARACHI: A group photo of the delegation of Pakistan PharmaceuticalManufacturers Association (PPMA) headed by M Haroon Qasim, Chairman-PPMA

along with other members of the Association, who visited the Karachi Stock Exchangehere on Thursday.-Staff Photo

Nawaz Ali

KARACHI: Bearish activi-ties continued at the KarachiStock Exchange (KSE) forthe third day as it lost morethan 100 points on Thursdaydue to investor concerns overPak-US relations onRaymond Davis issue and onfears of foreign selling.

The benchmark KSE 100-index dropped 111 points -0.91 per cent-- to close at12,187 points while KSE 30-index fell by 148 points -1.24per cent-- to close at 11,781points and KSE All ShareIndex lost 72 points -0.85 per

cent-- to close at 8,459points.

"Investors preferred toremain on the sidelines owingto growing diplomatic ten-sion between US andPakistan's government overthe release of RaymondDavis", said Murtaza Jafar,equity dealer at JS GlobalCapital.

Investors are taking a cau-tious view ahead of resolu-tion of the diplomatic rowwhich has resulted in a sharpdip in trading volumes at thelocal bourse, he added.

Trading activities took apositive start with a gain of

16 points, thereafter somemixed activities were seen tillaround the midday with indexmoving on both sides whereit touched a day-high at12,323 points level (+24points). However continuedselling pressure on Davisissue and below expectationMCB Bank result kept themarket in the bearish zone tillthe closing bells duringwhich it touched a day-low at12,177 points level (-ve 121points).

MCB Bank announced aprofit after tax of Rs16.87billion translating into anearning per share of Rs22.2

for CY10 along with a divi-dend of Rs3 per share and 10per cent bonus shares.

Further, according to theexperts, the delay in thelaunch of Margin TradingSystem (MTS) and fears offoreign selling following adecline in regional marketsweighed on the market too.

It should be noted that for-eign interest has sloweddown since last few days asthey moved to developedmarkets from emerging onesfollowing a crisis in theMiddle East countries.According to NCCPL data,offshore investors did a

net-buying of $0.47 millionon Thursday.

About 89.8 million sharestraded during the day whichis 17.6 million shares more ascompared to a turnover of72.2 million shares a day ear-lier.

Lotte Pakistan stood as thevolume leader with 7.77 mil-lion shares followed by SuiSouthern Gas with 5.97 mil-lion and Nishat Chunian with5.85 million.

Out of total 396 activeissues 237 went down,142 moved up, while 17issues stayed where theystarted from.

Davis Dustup Damaging KSE

HONG KONG/SHANGHAI:A slump in the shares of HongKong's stock exchange operatorled losses in the financial sec-tor, pulling the benchmarkHang Seng down 2 per cent andwiping out its gains for theyear.

The Hang Seng Indexclosed at its lowest level inover six weeks while overallturnover rose to its highestlevel since November lastyear, adding fuel to the bear-ish trend that has gripped thelocal market.

"Short-sellers are gettingquite aggressive in the marketand are targeting the high-betaplays," said Tom Kaan, a direc-tor at Louis Capital Markets inHong Kong, referring to stocksthat are more volatile than thebroader market.

"Nothing has changed funda-mentally, but there were toomany positive pundits when we

came back after the ChineseNew Year holiday."

Hong Kong's market hasremained on the back footthroughout the week, reversingearly gains and closing lowereach day even as turnover hassteadily picked up -- a sign thatinvestors are more willing tosell into any strength ratherthan buy on dips.

Short-selling as a percentageof total turnover at midday hitits highest since November lastyear, according to data from theexchange.

Firmly in the cross-hairs ofthose making bearish bets wereshares of Hong KongExchanges & Clearing whichslumped 4.9 per cent on nearly7 times their average 30-daytrading volume.

Some market players attrib-uted the fall to intensifyingcompetition for new listingsamong the world exchanges

which are in the midst of aflurry of consolidation activi-ty.

Shares of Hong Kong's stockexchange, the hottest destina-tion for initial public offeringsin 2010, have surged nearly 65per cent taking their valuationsto amongst the highest amongexchange operators, suggestinga pullback was likely.

SHANGHAI RECOVERS China's main stock index

ended up 1.6 per cent onThursday, led by a rebound inproperty and bank shares,which fell the previous day fol-lowing an interest rate rise bythe central bank.

SAIC Motor Corp , the coun-try's top automaker, jumped its10 per cent daily limit in thefinal minutes of trade aftersolid sales data from otherChinese carmakers liftedexpectations its sakes wouldalso follow suit.-Reuters

HK's 2011 gains gone;Shanghai shows shine

DECEMBER: MCB BankThursday posted a profit aftertax of Rs16.87 billion in CY10as compared to Rs15.49 billionlast year showing a growth of8.9 per cent YoY.

This translates into EPS ofRs20.20 versus Rs20.38 previously.

Further, the bank alsoannounced 4th interim cashdividend of Rs3 per share inaddition to --already paid--cash dividend of Rs8.50 pershare --totaling Rs11.5per share-- for CY10 alongwith 10 per cent bonus shares.

According to a press releaseissued here, the Board ofDirectors of MCB met hereunder the chairmanship ofMian Mohammad Mansha andreviewed the performance ofthe Bank for the year 2010.

The financial results for theyear ended December 31, 2010were presented before the Boardof Directors of MCB Bank Ltd.

The report said that net inter-est income of the Bankincreased by Rs1.1 billion over2009 whereas non-fund based

See # 14 Page 11

MCB CY10 PAThits Rs16.87bn

Staff Reporter

KARACHI: A delegation ofPakistan PharmaceuticalManufacturers' Association(PPMA) led by M HaroonQasim, Chairman-PPMA alongwith former chairmen DrSheikh Kaiser Waheed, ZahidSaeed , and other members ofthe Association visited theKarachi Stock Exchange(KSE) on Thursday.

The delegation held a meet-ing with Haroon Askari,Acting Managing DirectorKSE and staff of "CompanyAffairs Department "of theExchange.

The representatives of theConsultants & Lead Manager /Advisors to the public issuewere also present on the occa-sion, including AKDSecurities Limited, Arif HabibLimited, Cassim Investments(Private) Limited, Habib BankLimited, JS Global CapitalLimited, NIB Bank Limited,Pak Brunei InvestmentCompany Limited, and UnitedBank Limited.

Welcoming the delegation,Haroon Askari, briefed aboutthe benefits and advantages oflisting . He appreciated the roleof local pharmaceutical

See # 16 Page 11

PPMA delegationvisits Khi bourse

MUMBAI: Indian shares fellfor the third day in a row onThursday to their lowest closein seven months, as weak worldstocks added to the investorgloom over worries about theoutlook for domestic earnings.

Shares in billionaire AnilAmbani Group companiesrecouped some losses, afterthey had tumbled in a late sell-off the previous day for noapparent company specificnews.

Telecom operators BhartiAirtel and Idea Cellular shed2.8 per cent and 2.2 per centrespectively after the country'stelecoms regulator proposedsteep increases in the price ofsecond-generation mobile radiowaves.

The 30-share BSE indexdropped 0.74 per cent or 129.73points to 17,463.04, its lowestclose since early July. Sixteen ofits components closed in the red.

See # 15 Page 11

Sensex slipsfor third day

TOKYO: Japan's Nikkei aver-age edged lower on Thursdayas investors kept taking profitson a recent rise in share pricesand amid wariness about over-heating in the market.

Nikkei 225 February optionscontracts settled at 10,561.41,according to the OsakaSecurities Exchange, andtraders said that level couldprovide immediate support.

Analysts said investorsstayed on the sidelines on

Thursday ahead of a three-dayweekend, while weaker-than-expected machinery ordersdented the mood. Japanesemarkets are closed on Fridayfor a national holiday.

Japan's core machineryorders rose for the first time infour months in December andfirms forecast an increase inorders for the first quarter, bod-ing well for capital spending asthe economy emerges from a

See # 17 Page 11

Profit-taking hurtsNikkei; China eyed

UK’s FTSEdown asearnings

disappointsLONDON: Disappointing cor-porate results crimped confi-dence on the outlook for risk-sensitive banks and miners,pushing Britain's top shareindex lower by the close onThursday.

Diageo shed 4.6 per cent ashalf-year results from theworld's biggest spirits groupmissed forecasts, promptingbroker Espirito Santo to down-grade its rating to "hold".

International ConsolidatedAirline Group was also sharplylower, off 3.3 per cent as peerAir France-KLM slid afterwarning it would miss a keyprofit target after being hit by atriple whammy of snow, strikesand security problems.

The FTSE 100 ended down32.28 points, or 0.5 per cent, at6020.01, extendingWednesday's retreat after hit-ting its best closing level sinceMay 2008 on Tuesday.

The index is still up 2 percent in 2011 after a 9 per centrise last year, and many ana-lysts remain fairly upbeat aboutprospects for equities.

"There's a bit of nervousness See # 19 Page 11

US stocks late-morning

Wall Streetfalls downon results,

but off lowsNEW YORK: Wall Street wasweighed down by disappoint-ing earnings from CiscoSystems, but stocks bouncedoff their lows on Thursday asinvestors saw weakness in themarket as a buying opportunity.

Stocks opened lower as CiscoSystems Inc shares fell 12.7 percent to $19.25 a day after thenetwork equipment makerwarned about dwindling publicspending and reported weakerquarterly margins.

"The pattern that we havebeen seeing recently is that wedon't see selloffs that last verylong. They are being bought.Investors are buying on thedips," said Howard Ward, chiefinvestment officer of GamcoGrowth Fund in New York.

Further supporting the mar-ket, new US claims for unem-ployment benefits dropped totheir lowest in 2-1/2 years,the government said, in a signthe labor market was improv-ing.

The Dow Jones industrialaverage was down 37.92 points,or 0.31 per cent, at 12,201.97.The Standard & Poor's 500Index fell 3.59 points, or

See # 18 Page 11

KSE30-Index

recomposedAhmed Siddique

KARACHI: Karachi StockExchange (KSE) has recom-posed KSE 30-Index by replac-ing two companies with newones, according to a noticeissued by the Exchange.

The notice said that therecomposition exercise is basedon the selection criteria of KSE30-Index. The recomposedindex based on the prices ofDecember 31, 2010 will beimplemented with effect fromFebruary 15, 2011.

According to the list ofincoming companies, NationalRefinery Limited and Nishat(Chunian) Limited has beenselected. While, outgoing com-panies include Indus MotorCompany Limited and ShellPakistan Limited.

Philippines falls as ratemaintained; others drop

South East Asian stocks

European shares fall for 3rd day; C. Suisse down

ANNOUNCEMENTS

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

MCB Bank Limited Yearly 30%(D)10%(B) 16873.18 22.20

Cherat Papersack Half Yearly 50%(R) 125.10 10.90

Netsol Technologies Half Yearly - 417.57 5.01

NRL & NCL included

Friday, February 11, 20116

Volume 89,822,751

Value 2,861,044,188

Trades 49,148

Advanced 142

Declined 237

Unchanged 17

Total 396

Current 8,459.44

High 8,550.12

Low 8,452.92

Change i72.64

Current 12,187.47

High 12,324.44

Low 12,176.89

Change i111.81

Current 11,781.93

High 11,957.34

Low 11,760.98

Change i148.46

Market KSE 100 Index All Share Index KSE 30 Index

Current 19,686.51

High 19,944.64

Low 19,670.18

Change i212.07

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

Meezan Bank Limited

MEBL closed down -0.16 at 18.83. Volume was 21 per cent below

average and Bollinger Bands were 45 per cent narrower than normal.

The company's profit after taxation stood at Rs994.738 million which

translates into an Earning Per Share of Rs1.42 for the nine months of

current calendar year (9MCY10).

MEBL is currently 19.3 per cent above its 200-day moving average and

is displaying a downward trend. Volatility is extremely low when com-

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

indicators reflect moderate flows of volume into MEBL (mildly bullish).

Trend forecasting oscillators are currently bearish on MEBL.

RSI (14-day) 55.06 Total Assets (Rs in mn) 124,181.73

MA (10-day) 18.70 Total Equity (Rs in mn) 9,184.46

MA (100-day) 16.40 Revenue (Rs in mn) 10,102.06

MA (200-day) 15.78 Interest Expense 4,969.92

1st Support 18.75 Profit after Taxation 1,025.35

2nd Support 18.67 EPS 09 (Rs) 1.710

1st Resistance 18.98 Book value / share (Rs) 13.81

2nd Resistance 19.13 PE 10 E (x) 9.95

Pivot 18.90 PBV (x) 1.36

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

SEL closed up 0.50 at 18.00. Volume was 1,066 per cent above aver-

age (trending) and Bollinger Bands were 41 per cent wider than normal.

The company's profit after taxation stood at Rs25.751 million which

translates into an Earning Per Share of Rs1.34 for the 1st quarter of

current fiscal year (1QFY11).

SEL is currently 13.0 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is relatively normal as compared

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

cators reflect very strong flows of volume into SEL (bullish). Trend fore-

casting oscillators are currently bearish on SEL.

RSI (14-day) 49.30 Total Assets (Rs in mn) 3,547.15

MA (10-day) 17.44 Total Equity (Rs in mn) 1,183.42

MA (100-day) 19.36 Revenue (Rs in mn) 3,875.48

MA (200-day) 20.68 Interest Expense 303.74

1st Support 17.50 Profit after Taxation 107.20

2nd Support 17.00 EPS 10 (Rs) 5.615

1st Resistance 18.50 Book value / share (Rs) 61.99

2nd Resistance 19.00 PE 11 E (x) 3.36

Pivot 18.00 PBV (x) 0.29

Sitara Energy Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

LPCL closed down -0.03 at 3.12. Volume was 87 per cent below aver-

age (consolidating) and Bollinger Bands were 3 per cent wider than nor-

mal. The company's loss after taxation stood at Rs1.045 billion which

translates into a Loss Per Share of Rs0.80 for the nine months of cur-

rent calendar year (9MCY10).

LPCL is currently 1.3 per cent above its 200-day moving average and

is displaying a downward trend. Volatility is extremely low when com-

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

indicators reflect volume flowing into and out of LPCL at a relatively

equal pace. Trend forecasting oscillators are currently bearish on LPCL.

RSI (14-day) 37.90 Total Assets (Rs in mn) 19,704.24

MA (10-day) 3.22 Total Equity (Rs in mn) 9,763.73

MA (100-day) 3.14 Revenue (Rs in mn) 8,129.96

MA (200-day) 3.08 Interest Expense 1,230.81

1st Support 3.05 Loss after Taxation (1,278.96)

2nd Support 3.02 EPS 09 (Rs) (0.974)

1st Resistance 3.18 Book value / share (Rs) 7.44

2nd Resistance 3.28 PE 10 E (x) -

Pivot 3.15 PBV (x) 0.42

Lafarge Pakistan Cement Ltd

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

KASBB closed down -0.04 at 1.61. Volume was 17 per cent belowaverage and Bollinger Bands were 110 per cent wider than normal. Thecompany's loss after taxation stood at Rs1.571 billion which translatesinto a Loss Per Share of Rs2.20 for the nine months of current calen-dar year (9MCY10).KASBB is currently 41.9 per cent below its 200-day moving averageand is displaying a downward trend. Volatility is high as compared to theaverage volatility over the last 10 trading sessions. Volume indicatorsreflect very strong flows of volume out of KASBB (bearish). Trend fore-casting oscillators are currently bearish on KASBB.

RSI (14-day) 32.02 Total Assets (Rs in mn) 59,223.06

MA (10-day) 1.68 Total Equity (Rs in mn) 4,958.87

MA (100-day) 2.35 Revenue (Rs in mn) 5,061.63

MA (200-day) 2.77 Interest Expense 5,490.40

1st Support 1.56 Loss after Taxation (4,227.75)

2nd Support 1.51 EPS 09 (Rs) (4.446)

1st Resistance 1.70 Book value / share (Rs) 5.22

2nd Resistance 1.79 PE 10 E (x) -

Pivot 1.65 PBV (x) 0.31

KASB Bank Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,567.81 1,573.86 1,539.91 1,547.38 -20.43 -1.30

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

3,101,237 - - 65,194.15 mn 1,195,479.87 mn 1,583.28

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

11.29 3.68 32.54 55.94 4.95 1,547.38

Attock Petroleum 691 6.87 386.67 387.37 378.00 380.29 -6.38 38147 401.00 301.00 300 20B115.00 -

Attock Refinery 853 4.85 121.11 122.10 118.55 119.12 -1.99 591598 146.90 115.25 - - - -

BYCO Petroleum 3921 - 9.84 9.92 9.80 9.82 -0.02 238780 12.49 9.80 - - - -

Mari Gas Company 735 16.93 125.17 126.25 124.15 124.95 -0.22 16273 141.65 117.00 31 - - -

National Refinery 800 5.65 276.93 277.00 271.95 272.54 -4.39 97876 335.00 251.80 200 - - -

Oil & Gas Development 43009 11.49 171.13 171.85 168.61 169.78 -1.35 316013 185.00 157.56 55 - 15.00 -

Pak Petroleum 11950 7.68 213.25 214.00 209.75 210.04 -3.21 393453 229.80 190.50 90 20B 50.00 -

Pak Oilfields 2365 7.39 325.23 325.99 319.70 320.57 -4.66 837871 341.50 249.25 255 -100.00 -

Pak Refinery Limited 350 - 107.44 110.50 105.00 105.29 -2.15 104181 122.22 80.61 - - - -

P.S.O 1715 4.74 289.44 290.42 278.50 280.26 -9.18 682097 317.79 277.52 80 - 50.00 -

Shell Gas LPG 226 - 31.95 32.79 30.51 31.50 -0.45 1899 39.89 30.51 - - - -

Shell Pakistan 685 11.01 214.58 216.90 213.00 214.68 0.10 21829 222.00 194.00 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

Open High Low Close Change % Change

994.19 1,003.23 983.20 988.94 -5.25 -0.53

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

10,057,800 - - 47,070.70 mn 137,624.02 mn 994.19

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

7.49 0.65 8.64 16.68 2.23 988.94

(Colony) Thal 56 - 1.35 1.40 1.35 1.35 0.00 1147 1.50 0.56 - - - -AL-Qadir Textile 76 - 8.38 9.00 7.80 7.80 -0.58 2501 9.00 4.05 10 - - -Amtex Limited 2594 8.66 3.91 3.94 3.79 3.81 -0.10 138332 5.28 3.65 30 - - -Artistic Denim 840 6.11 22.75 22.05 22.00 22.00 -0.75 301 24.59 19.40 20 - - -Azgard Nine 4493 - 11.00 11.20 10.82 10.92 -0.08 2204387 12.84 9.20 - - - -Babri Cotton 33 0.46 11.49 11.65 11.00 11.41 -0.08 1512 15.25 8.10 - 15B - -Bannu Woolen XD 76 0.49 13.50 14.00 14.00 14.00 0.50 10000 15.10 12.40 20 - - -Blessed Tex Mills 64 0.87 59.12 60.90 58.01 58.01 -1.11 210 63.20 46.00 50 - - -Chakwal Spinning 400 0.59 1.45 1.44 1.35 1.35 -0.10 501 2.00 0.81 5 - - -Chenab Limited 1150 - 2.97 2.99 2.84 2.85 -0.12 9623 3.76 2.80 - - - -Colgate Palm 316 28.63 915.00 934.95 900.00 900.00-15.00 102 1020.00 837.00 - - - -Colony Mills Ltd 2442 3.77 2.42 2.85 2.35 2.41 -0.01 5637 2.97 2.11 - - - -Crescent Jute 238 - 1.01 1.18 0.80 1.03 0.02 127 1.38 0.32 - - - -Crescent Textile 492 3.35 17.83 17.48 16.86 17.40 -0.43 1014 23.99 16.86 15 - - -D S Ind Ltd 600 - 1.71 1.79 1.56 1.65 -0.06 11502 2.10 1.55 - - - -Dawood Lawrencepur 514 43.02 36.20 36.70 35.00 36.57 0.37 67108 47.00 35.00 5 - - -Dewan Mushtaq Textile 34 0.12 4.46 4.50 3.60 4.01 -0.45 1108 8.90 2.90 - - - -Ellcot Spinning 110 0.66 20.91 21.85 21.50 21.85 0.94 471 21.85 18.51 35 - - -Faisal Spinning 100 0.86 34.70 35.10 34.70 35.01 0.31 993 36.75 31.25 50 - - -Fazal Textile 62 3.20 422.01 420.00 400.91 400.91-21.10 363 454.50 371.02 100 - - -Gadoon Textile XD 234 0.84 75.76 77.40 75.53 76.50 0.74 4054 77.40 47.00 70 - - -Ghani Value Glass 75 6.16 22.30 23.40 23.40 23.40 1.10 1022 41.20 22.30 25 - - -Ghazi Fabrics 326 0.90 5.49 5.50 5.50 5.50 0.01 5379 5.50 2.80 10 - - -Gillette Pakistan 192 - 58.19 61.09 55.29 55.51 -2.68 6483 66.48 55.29 - - - -Gulistan Spinning 146 1.15 6.10 6.34 5.51 6.00 -0.10 40114 8.86 5.26 10 - - -Hira Textile Mills Ltd. 716 0.72 3.85 3.96 3.70 3.81 -0.04 28222 4.47 3.31 10 - - -Ibrahim Fibres 3105 4.12 52.90 53.00 51.00 52.38 -0.52 17522 55.00 36.26 20 - - -Idrees Textile 180 3.80 3.50 3.50 3.45 3.50 0.00 2500 3.90 2.70 10 - - -Indus Dyeing 181 2.84 284.00 297.99 270.00 292.14 8.14 306 350.15 188.01 50 - - -Jubilee Spinning 325 - 2.65 2.45 2.31 2.45 -0.20 4300 5.50 2.25 - - - -Kohinoor Ind 303 - 1.54 1.57 1.32 1.50 -0.04 68332 2.00 0.75 - - - -Kohinoor Textile 1455 3.57 5.18 5.22 5.00 5.00 -0.18 2202 5.95 4.81 - - - -Masood Textile 600 1.88 17.10 17.85 17.10 17.82 0.72 1004 20.74 17.10 15 100R - -Nagina Cotton 187 0.84 16.25 16.45 16.10 16.45 0.20 1002 17.10 14.70 20SD - - -Nishat (Chunian) 1614 2.10 25.53 25.84 24.60 25.28 -0.25 5854277 26.58 21.15 15 - - -

Nishat Mills 3516 5.58 65.76 66.25 64.70 65.05 -0.71 1422008 71.89 52.80 25 45R - -

Pak Synthetic 560 4.38 13.18 13.65 12.75 12.96 -0.22 15034 14.45 6.21 - - - -

Paramount Spinning 174 0.88 12.40 12.05 12.00 12.05 -0.35 820 12.40 8.00 10 10B - -

Premium Textile 62 0.47 31.25 29.69 29.69 29.69 -1.56 500 34.40 25.00 50 - - -

Ravi Textile 250 - 1.24 1.37 1.21 1.28 0.04 56077 1.98 0.65 - - - -

Reliance Cotton 103 0.72 43.00 43.00 41.00 41.02 -1.98 1120 43.30 32.75 20 - - -

Reliance Weaving 308 0.67 9.52 9.60 9.60 9.60 0.08 1479 10.34 8.50 25SD - - -

Rupali Poly 341 5.09 42.04 42.29 40.30 40.53 -1.51 4010 42.70 34.12 40 - - -

Saif Textile 264 0.48 6.00 6.00 5.90 5.97 -0.03 4093 6.85 3.90 - - - -

Sally Textile 88 0.21 4.00 4.60 4.25 4.25 0.25 6005 4.83 3.61 10 - - -

Samin Textile 267 5.21 5.76 6.70 6.00 6.25 0.49 1553 7.00 5.11 - 100R - -

Sana Ind 55 3.26 43.01 45.15 41.40 42.89 -0.12 704 49.66 31.56 60 - - -

Sapphire Fibre 197 0.96 108.21 102.87 102.80 102.87 -5.34 500 131.50 102.80 15 - - -

Sargodha Spinning 312 0.71 3.88 3.80 3.65 3.65 -0.23 4002 4.45 1.51 5 - - -

Saritow Spinning 133 0.29 2.35 2.00 1.40 1.75 -0.60 4000 2.89 1.00 - - - -

Service Ind 120 7.57 220.10 224.99 220.00 221.06 0.96 4344 276.50 180.11 - - - -

Shadman Cot 176 2.94 15.15 16.15 16.00 16.15 1.00 2091 16.65 7.00 - - - -

Shahtaj Textile 97 - 20.00 20.05 20.00 20.05 0.05 1120 20.29 16.35 45 - - -

Tata Textile 173 0.39 41.50 42.00 39.99 39.99 -1.51 149 42.00 29.76 25 - - -

Thal Limited 307 5.05 120.25 121.00 118.00 118.09 -2.16 3073 132.00 95.10 80 20B - -

Treet Corp 418 9.03 57.31 57.93 56.70 56.72 -0.59 22794 63.30 50.50 - - - -

Zil Limited 53 4.45 70.00 69.95 66.50 66.50 -3.50 8373 72.49 42.30 35 - - -

Paid up Last 60 days 2010 2011

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,097.73 1,147.01 1,071.61 1,085.96 -11.77 -1.07

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

86,362 - - 3,763.71 mn 5,179.35 mn 1,112.44

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

3.08 0.33 10.64 6.27 2.03 1,085.96

Gauhar Engineering Ltd 22 - 0.60 0.60 0.60 0.60 0.00 10000 1.65 0.45 - - - -

Pak Elektron 1219 3.48 13.84 14.59 13.75 13.80 -0.04 33430 15.88 13.25 - 10B - -

Tariq Glass Ind 231 2.40 21.09 21.70 20.04 20.04 -1.05 42918 24.00 15.90 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,831.84 1,863.10 1,777.74 1,826.38 -5.47 -0.30

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

178,827 - - 11,335.33 mn 277,906.79 mn 1,837.00

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

47.61 14.43 30.30 30.57 0.64 1,819.97

Abdullah Shah Ghazi Sugar 793 0.91 5.51 6.29 5.50 5.50 -0.01 1078 7.20 4.06 - - - -

AL-Noor Sugar XD 186 1.08 40.93 42.97 42.95 42.97 2.04 1060 54.00 40.85 50 - - -

Ansari Sugar 244 - 5.25 5.10 5.10 5.10 -0.15 500 6.99 4.05 - - - -

Bawany Sugar 87 - 5.50 5.50 5.06 5.49 -0.01 2100 6.73 1.21 - - - -

Crescent Sugar 214 0.63 6.03 6.26 6.25 6.25 0.22 4500 7.15 5.00 - - - -

Dewan Sugar 365 - 2.98 3.10 3.00 3.00 0.02 2400 5.59 1.60 - - - -

Habib Sugar 750 8.91 22.99 23.00 22.30 22.46 -0.53 49796 36.50 21.35 25 25B - -

Habib-ADM Ltd 200 7.61 12.15 12.51 12.40 12.48 0.33 500 12.96 11.50 40 - - -

Haseeb Waqas XD 324 - 16.71 15.80 15.71 15.71 -1.00 1066 23.62 15.71 10 - - -

J D W Sugar 539 1.26 71.99 71.50 71.15 71.15 -0.84 800 92.50 68.00 7010B 12.5R - -

Mirpurkhas Sugar 84 3.06 51.49 52.00 48.95 49.00 -2.49 307 68.22 44.13 15 20B - -

Mirza Sugar XD 141 - 4.23 4.42 4.20 4.40 0.17 4834 7.18 4.01 10 - - -

National Foods 414 21.23 56.70 57.00 55.35 56.90 0.20 602 75.50 41.52 12 - - -

Nestle Pakistan 453 37.46 3420.19 3483.00 3402.00 3410.15 -10.04 1107 3570.00 1830.00 450 - - -

Noon Pakistan 48 3.20 23.05 24.00 22.00 22.43 -0.62 1067 27.30 21.00 12 - - -

Noon Sugar 165 1.17 10.96 11.25 10.86 10.86 -0.10 410 14.84 9.00 - - - -

Quice Food 107 7.09 3.30 3.50 3.10 3.12 -0.18 12500 3.70 2.05 - - - -

Rafhan Maize 92 4.58 2790.83 2925.00 2651.29 2890.30 99.47 122 2925.00 1800.00 600 - - -

S S Oil 57 0.27 3.00 3.12 3.10 3.10 0.10 4500 3.85 2.50 - - - -

Shahtaj Sugar 120 3.96 56.28 59.09 55.00 59.09 2.81 14066 100.26 50.93 - - - -

Shakarganj Mills 695 0.35 5.49 6.00 4.90 4.90 -0.59 62120 7.88 4.46 - - - -

Tandlianwala 1177 14.33 42.00 43.00 40.02 40.12 -1.88 8309 43.00 30.50 - - - -

UniLever Pakistan 665 20.26 4372.00 4440.00 4153.40 4340.53 -31.47 4688 4818.00 3901.00 178 - - -

Paid up Last 60 days 2010 2011

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,271.01 1,277.00 1,262.04 1,269.66 -1.35 -0.11

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

135,075 - - 6,768.53 mn 47,014.26 mn 1,280.19

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

4.65 1.18 25.35 20.42 4.39 1,269.66

Agriautos Ind 144 5.45 70.25 71.98 69.25 71.98 1.73 935 82.63 66.01 90 - - -

Atlas Battery 101 5.84 196.52 198.00 195.00 195.41 -1.11 1172 205.00 155.25 100 20B - -

Atlas Engineering Ltd 247 36.16 41.20 43.26 40.00 40.50 -0.70 6040 43.26 15.00 - - - -

Dewan Motors 890 - 2.05 2.23 1.95 1.99 -0.06 44795 2.89 1.20 - - - -

Exide (PAK) 56 4.84 194.60 198.00 197.50 197.60 3.00 1010 217.44 150.00 60 - - -

General Tyre 598 20.26 24.00 23.60 23.10 23.50 -0.50 11360 26.74 21.00 20 - - -

Ghandhara Nissan 450 3.13 4.46 4.96 4.50 4.50 0.04 37559 5.36 4.40 - - - -

Honda Atlas Cars 1428 - 11.00 11.40 10.90 11.19 0.19 2270 13.40 10.60 - - - -

Indus Motors 786 6.62 290.61 290.00 290.00 290.00 -0.61 12000 309.73 248.00 150 - - -

Pak Suzuki 823 10.14 64.40 64.80 63.50 63.69 -0.71 13535 77.90 63.30 - - - -

Sazgar Engineering 150 4.34 23.25 23.50 22.77 23.25 0.00 4298 24.00 18.80 10 20B - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,582.00 1,591.99 1,562.65 1,565.59 -16.41 -1.04

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

65,995 - - 1,336.62 mn 33,851.29 mn 1,597.08

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

8.52 3.24 38.02 131.49 15.44 1,565.59

AL-Ghazi Tractor 215 5.57 237.00 237.99 232.70 232.75 -4.25 1391 244.95 206.00 150 - - -

Bolan Casting 104 - 46.32 48.63 44.15 44.30 -2.02 764 48.63 42.90 25 10B - -

Dewan Auto Engineering 214 - 1.23 1.25 1.10 1.20 -0.03 11000 2.40 0.21 - - - -

Ghandhara Ind 213 10.28 11.08 11.24 11.00 11.10 0.02 20140 13.50 10.51 - - - -

KSB Pumps 132 7.41 61.92 62.70 60.00 61.90 -0.02 594 71.50 58.55 - - - -

Millat Tractors XB 366 8.32 545.01 548.40 540.00 540.60 -4.41 31995 568.40 480.00 650 25B325.00 -

Pak Engineering 57 378.14 143.19 140.00 136.04 136.13 -7.06 106 301.84 135.85 100 - - -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

1,011.19 1,024.88 986.70 999.03 -12.16 -1.20

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

325,465 - - 3,043.31 mn 37,480.83 mn 1,013.42

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

2.77 1.22 43.91 15.55 5.61 999.03

Cherat Papersack 115 2.92 66.92 66.75 63.58 63.58 -3.34 78433 83.23 52.50 20 25B - 50R

ECOPACK Ltd 230 - 2.65 2.69 2.50 2.60 -0.05 2214 3.30 1.82 - - - -

Ghani Glass 1067 4.92 52.75 55.25 52.51 53.58 0.83 28340 56.45 45.30 25 10B - -

MACPAC Films 389 - 4.08 4.02 3.90 3.92 -0.16 8950 4.14 2.40 - - - -

Merit Pack 47 18.28 32.39 33.80 32.10 32.91 0.52 82979 33.80 17.10 - - - -

Packages Ltd 844 64.76 127.71 128.99 124.00 126.28 -1.43 118737 143.00 103.52 - - - -

Tri-Pack Films 300 9.46 130.50 131.44 129.00 129.67 -0.83 5713 144.50 103.00 - - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

931.08 940.31 906.73 917.31 -13.76 -1.48

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

2,408,468 - - 54,792.74 mn 65,652.43 mn 944.70

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

6.42 0.46 7.10 19.04 2.96 917.31

Al-Abbas Cement 1828 - 2.98 3.15 2.92 3.00 0.02 11031 3.98 2.75 - 100R - -

Attock Cement 866 6.52 51.63 51.89 51.50 51.50 -0.13 18222 65.99 51.38 50 - - -

Balochistan Glass Ltd 858 - 2.80 2.46 2.46 2.46 -0.34 3302 4.24 1.10 - - - -

Berger Paints 182 - 19.19 19.40 18.50 19.00 -0.19 95892 24.16 16.55 - 122R - -

Bestway Cement 3257 - 11.75 12.70 11.03 12.67 0.92 310 24.80 11.03 - - - -

Buxly Paints 14 - 11.65 11.00 10.65 11.00 -0.65 373 15.50 7.91 - - - -

Dadabhoy Cement 982 14.23 1.80 1.88 1.70 1.85 0.05 1940 2.49 1.50 - - - -

Dadex Eternit 108 - 20.00 19.50 19.00 19.00 -1.00 425 25.75 18.51 - - - -

Dewan Cement 3891 - 1.99 2.07 1.97 1.99 0.00 57673 3.10 1.48 - - - -

DG Khan Cement Ltd 3651 118.04 28.63 28.89 28.21 28.33 -0.30 625109 32.30 27.67 - 20R - -

Fauji Cement 6933 6.33 4.63 4.68 4.55 4.56 -0.07 594711 5.55 4.55 - - - 92R

Flying Cement Ltd 1760 - 1.69 1.76 1.62 1.71 0.02 37631 2.25 1.60 - - - -

Frontier Ceramics 77 - 2.06 2.00 1.90 2.00 -0.06 6175 3.00 1.29 - - - -

Gammon Pak 283 - 2.70 3.65 1.70 1.70 -1.00 306 3.65 1.05 - - - -

Gharibwal Cement 4003 - 5.47 6.29 4.70 6.29 0.82 501 9.19 3.06 - - - -

Haydery Const 32 - 0.53 0.67 0.50 0.67 0.14 5005 0.99 0.25 - - - -

Kohat Cement 1288 - 6.16 6.20 6.03 6.06 -0.10 40667 8.70 6.00 - - - -

Lafarge Pakistan Cmt. 13126 - 3.15 3.25 3.12 3.12 -0.03 339334 3.88 2.95 - - - -

Lucky Cement 3234 6.16 70.67 70.95 68.01 68.60 -2.07 496596 78.44 68.01 40 - - -

Maple Leaf Cement 5261 1.25 2.65 2.70 2.61 2.68 0.03 54106 3.30 2.56 - - - -

Maple Leaf(Pref) 541 3.07 4.50 4.21 4.15 4.18 -0.32 2400 8.74 3.21 - - - -

Pioneer Cement 2228 - 6.75 6.84 6.40 6.50 -0.25 15652 8.20 6.40 - - - -

Safe Mix Concrete 200 - 7.00 7.00 6.51 7.00 0.00 37200 7.95 5.30 - - - -

Shabbir Tiles 361 - 8.03 8.00 8.00 8.00 -0.03 1000 9.60 7.37 - - - -

Thatta Cement 798 442.50 17.82 17.74 17.01 17.70 -0.12 101 20.44 16.75 - 50R - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,030.08 1,040.41 1,024.12 1,028.85 -1.23 -0.12

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

101,559 - - 3,596.11 mn 9,890.90 mn 1,034.93

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

3.25 1.08 33.10 30.91 9.52 1,028.32

Crescent Steel 565 3.04 29.05 29.25 28.99 29.03 -0.02 16995 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.55 2.55 2.45 2.50 -0.05 27511 3.29 2.43 - - - -

Huffaz Pipe 555 8.87 13.90 14.45 13.81 14.19 0.29 3900 16.51 13.81 - - - -

International IndSPOT 1199 18.65 51.70 51.97 51.00 51.28 -0.42 53152 62.20 44.53 55 20B - -

Paid up Last 60 days 2010 2011

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,053.07 1,060.45 1,041.79 1,053.65 0.58 0.06

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

21,260 - - 1,186.83 mn 2,921.29 mn 1,058.58

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

5.39 0.40 7.47 25.28 4.69 1,047.32

Century Paper 707 - 16.00 16.20 15.99 16.13 0.13 15039 19.69 14.95 - - - -

Pak Paper Product 50 8.46 43.51 44.75 42.20 44.00 0.49 421 48.90 39.00 2533.33B - -

Security Paper 411 6.74 37.99 38.00 37.40 37.75 -0.24 5800 47.70 37.30 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,595.20 1,607.34 1,582.08 1,591.78 -3.42 -0.21

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

19,524,630 - - 52,251.88 mn 350,781.32 mn 1,607.80

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

9.68 3.39 35.00 48.81 5.04 1,591.78

Agritech Limited 3924 8.51 24.09 24.00 23.50 23.50 -0.59 4080 26.73 20.91 - - - -

BOC (Pak) 250 12.84 93.51 93.50 91.55 93.50 -0.01 281 103.94 76.00 15 - - -

Clariant Pak 273 7.19 200.84 201.45 200.00 200.90 0.06 10564 213.30 151.55 135 25B - -

Dawood Hercules 1203 8.21 201.32 202.50 197.00 198.10 -3.22 43190 215.00 165.73 40 - - -

Descon Chemical 1996 - 3.05 3.29 3.00 3.11 0.06 1760051 3.74 2.37 - - - -

Descon Oxychem Ltd. 1020 - 7.66 8.18 7.50 7.86 0.20 746690 9.25 6.61 - - - -

Dewan Salman 3663 - 3.13 3.18 2.98 3.00 -0.13 2551777 4.24 1.52 - - - -

Dynea Pak 94 - 11.27 11.27 10.41 11.11 -0.16 3200 11.98 9.15 15 - - -

Engro Corporation Ltd 3277 11.74 215.38 216.50 212.60 213.66 -1.72 682279 222.80 177.80 40 - - -

Engro Polymer 6635 - 13.09 13.40 12.95 13.16 0.07 937509 15.87 12.51 - - - -

Fatima Fertilizer 22000 - 11.91 12.00 11.90 11.97 0.06 619384 12.64 9.16 - - - -

Fauji Fertilizer 6785 9.30 150.59 151.99 150.20 151.20 0.61 1319954 157.90 108.80 130 25B - -

Fauji Fert.Bin Qasim 9341 7.78 41.46 41.63 41.11 41.21 -0.25 2386396 43.99 32.50 52.5 - - -

Ghani Gases Ltd 725 8.64 11.46 11.73 11.31 11.40 -0.06 2993 13.07 11.00 - - - -

ICI Pakistan 1388 8.35 149.26 150.00 147.10 148.26 -1.00 121556 158.49 132.00 55 - - -

Leiner Gelatine 75 - 11.61 12.61 10.61 11.06 -0.55 271 20.95 9.99 - - - -

Lotte Pakistan 15142 5.95 16.25 16.36 16.02 16.18 -0.07 7766066 16.80 11.56 5 - - -

Mandviwala 74 - 1.28 1.43 1.30 1.43 0.15 413 2.45 1.01 - - - -

Nimir Ind Chemical 1106 - 2.78 2.93 2.75 2.78 0.00 2684559 3.17 1.40 - - - -

Sitara Peroxide 551 15.34 14.03 14.43 14.05 14.11 0.08 261970 14.69 12.70 - - - -

Wah-Noble 90 7.24 37.75 37.75 37.41 37.63 -0.12 859 41.99 32.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

906.45 919.51 903.97 910.63 4.17 0.46

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

50,562 - - 3,904.20 mn 30,461.74 mn 910.63

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

7.16 1.60 22.31 44.54 6.22 905.71

Abbott (Lab) 979 8.33 96.60 97.99 95.00 95.08 -1.52 7667 112.50 94.00 20 - - -

Ferozsons (Lab) 250 7.21 91.00 95.55 90.51 95.47 4.47 31673 95.55 82.20 - 20B - -

GlaxoSmithKline 1707 13.49 74.99 75.00 74.90 74.98 -0.01 1418 89.98 70.00 - - - -

Highnoon (Lab) 165 7.56 26.53 27.49 26.80 27.28 0.75 327 30.48 24.15 - - - -

IBL HealthCare Ltd 200 7.25 9.00 9.15 8.67 8.99 -0.01 606 9.99 7.16 - - - -

Sanofi-Aventis 96 13.56 167.29 174.00 167.00 170.50 3.21 8372 174.00 116.00 - - - -

Searle Pak 306 5.40 60.00 60.50 60.06 60.10 0.10 498 69.00 58.70 30 - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

745.25 749.52 724.11 739.00 -6.25 -0.84

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

17,464 - - 3,242.17 mn 12,739.22 mn 754.58

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

5.56 1.42 25.53 11.08 1.99 717.52

Pak Int Cont.Terminal 1092 7.00 73.56 73.99 71.02 72.82 -0.74 14545 76.65 68.00 40 - - -

PNSC 1321 37.63 34.70 34.90 34.50 34.62 -0.08 2919 39.45 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

Dewan Farooque Motors # 14-Feb 21-Feb - - 21-Feb

(TFC) Allied Bank 14-Feb 27-Feb - - -

(TFC) Pakarab Fertilizers 15-Feb 28-Feb - - -

Int Ind (Consolidated) 16-Feb 24-Feb 15(I) 08-Feb -

KASB Cash Fund 17-Feb - - - -

Kohinoor Mills # 17-Feb 24-Feb - - 24-Feb

Ideal Energy # 18-Feb 26-Feb - - 26-Feb

Olympia Spng & Weaving Mills # 18-Feb 26-Feb - - 26-Feb

Millat Tractors 18-Feb 24-Feb 325(I) 09-Feb -

Shadman Cotton Mills 19-Feb 26-Feb 5 10-Feb 26-Feb

Reliance Cotton Spng Mills # 19-Feb 26-Feb - - 26-Feb

Mehran Sugar Mills 21-Feb 28-Feb 7.5(I) 10-Feb -

Frontier Ceramics 21-Feb 28-Feb - - 28-Feb

Gharibwal Cement 21-Feb 28-Feb - - 28-Feb

Ansari Sugar Mills 21-Feb 28-Feb - - 28-Feb

Tandlianwala Sugar Mills 21-Feb 28-Feb - - 28-Feb

Zeal Pak Cement - - - - 28-Feb

Descon Oxychem # 21-Feb 28-Feb - - 28-Feb

Int Industries # - - - - 24-Feb

Pakistan Oilfields 22-Feb 01-Mar 100(I) 11-Feb -

Fauji Fertiliser 23-Feb 01-Mar 35(F)25(B) 14-Feb 1-Mar

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 54 54.1 54 54.1 0.1 2100

TRG Pakistan Ltd. 3.19 3.25 3.11 3.12 -0.07 345591

Indus Fruit 1.12 0.45 0.15 0.45 -0.67 1000

Murree Brewery Co. 96.92 99.5 92.5 98 1.08 61452

Shakarganj Food 1.01 1.14 1.14 1.14 0.13 500

Shezan International 184.82 190 175.58 175.58 -9.24 11544

Eye Television 19.69 19.99 19 19.27 -0.42 13007

Media Times LtdXR 17.21 18.2 16.75 17.5 0.29 203

P.I.A.C.(A) 2.78 2.8 2.6 2.74 -0.04 146362

AKD Capital Limited 43.5 43.49 42.01 43.28 -0.22 207

Pace (Pak) Ltd. 3.13 3.17 3.01 3.02 -0.11 376174

Netsol Technologies 25.44 25.69 24.17 24.18 -1.26 1791244

Symbols Open High Low Close Change Vol

Friday, February 11, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -111.81 points at 12,187.47. Volume

was 52 per cent below average (consolidating) and Bollinger

Bands were 35 per cent narrower than normal. As far as resist-

ance level is concern, the market will see major 1st resistance

level at 12,282.30 and 2nd resistance level at 12,377.15, while

Index will continue to find its 1st support level at 12,134.75 and

2nd support level at 12,082.05.

KSE 100 INDEX is currently 14.9 per cent above its 200-day mov-

ing average and is displaying a downward trend. Volatility is

extremely low when compared to the average volatility over the

last 10 trading sessions. Volume indicators reflect volume flowing

into and out of INDEX at a relatively equal pace. Trend forecast-

ing oscillators are currently bearish on INDEX.

RSI (14-day) 45.04 Support 1 12,134.75

MA (5-day) 12,338.08 Support 2 12,082.05

MA (10-day) 12,338.73 Resistance 1 12,282.30

MA (100-day) 11,296.31 Resistance 2 12,377.15

MA (200-day) 10,610.11 Pivot 12,229.60

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.25 at 41.21. Volume was 57 per cent below average

(consolidating) and Bollinger Bands were 45 per cent narrower than normal.

FFBL is currently 31.9 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect mod-

erate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla-

tors are currently bullish on FFBL.

*Invest Cap 39 Hold

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Neutral

RSI (14-day) 58.64 Free Float Shares (mn) 326.94

MA (10-day) 41.14 Free Float Rs (mn) 13,473.14

MA (100-day) 34.34 ** NOI Rs (mn) 74.65

MA (200-day) 31.25 Mean 41.35

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed down -0.19 at 18.52. Volume was 1 per cent below average

and Bollinger Bands were 75 per cent wider than normal.

PTC is currently 3.6 per cent below its 200-day moving average and is dis-

playing a downward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect volume

flowing into and out of PTC at a relatively equal pace. Trend forecasting

oscillators are currently bearish on PTC.

*Invest Cap 25 Buy

AKD Securities Ltd 23.91 Buy

TFD Research 25.8 Positive

RSI (14-day) 36.95 Free Float Shares (mn) 585.02

MA (10-day) 18.78 Free Float Rs (mn) 10,834.64

MA (100-day) 19.19 ** NOI Rs (mn) 7.80

MA (200-day) 19.21 Mean 18.60

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

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -0.55 at 75.71. Volume was 65 per cent below average

(consolidating) and Bollinger Bands were 46 per cent narrower than normal.

NBP is currently 10.8 per cent above its 200-day moving average and is

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

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

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 Neutral

TFD Research 92.3 Positive

RSI (14-day) 45.88 Free Float Shares (mn) 318.50

MA (10-day) 76.89 Free Float Rs (mn) 24,113.47

MA (100-day) 69.98 ** NOI Rs (mn) 121.46

MA (200-day) 68.36 Mean 76.09

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

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed down -0.64 at 37.83. Volume was 18 per cent below aver-

age and Bollinger Bands were 19 per cent wider than normal.

HUBC is currently 7.9 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect mod-

erate flows of volume out of HUBC (mildly bearish). Trend forecasting

oscillators are currently bearish on HUBC.

*Invest Cap 47 Buy

AKD Securities Ltd 42.1 Accumulate

TFD Research 50.3 Positive

RSI (14-day) 45.56 Free Float Shares (mn) 810.01

MA (10-day) 38.56 Free Float Rs (mn) 30,642.61

MA (100-day) 35.95 ** NOI Rs (mn) 1.13

MA (200-day) 35.05 Mean 38.17

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed down -0.71 at 65.05. Volume was 69 per cent below average

(consolidating) and Bollinger Bands were 8 per cent narrower than normal.

NML is currently 23.1 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is relatively normal as compared to

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

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

forecasting oscillators are currently bearish on NML.

*Invest Cap 77 Buy

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 46.27 Free Float Shares (mn) 175.80

MA (10-day) 65.95 Free Float Rs (mn) 11,435.79

MA (100-day) 58.05 ** NOI Rs (mn) 67.49

MA (200-day) 52.83 Mean 65.44

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed up 0.61 at 151.20. Volume was 21 per cent below average and

Bollinger Bands were 25 per cent narrower than normal.

FFC is currently 32.3 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect volume

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

oscillators are currently bullish on FFC.

*Invest Cap 149 Hold

AKD Securities Ltd 145 Neutral

TFD Research 139.5 Neutral

RSI (14-day) 63.88 Free Float Shares (mn) 373.19

MA (10-day) 150.64 Free Float Rs (mn) 56,426.31

MA (100-day) 120.88 ** NOI Rs (mn) 45.54

MA (200-day) 114.23 Mean 151.00

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

Technical Analysis Leverage Position

MCB Bank Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

MCB closed down -7.70 at 214.88. Volume was 3 per cent above average

and Bollinger Bands were 44 per cent wider than normal.

MCB is currently 5.1 per cent above its 200-day moving average and is

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

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

reflect very strong flows of volume out of MCB (bearish). Trend forecasting

oscillators are currently bearish on MCB.

AKD Securities Ltd 214.57 Reduce

TFD Research 218.18 Neutral

RSI (14-day) 34.65 Free Float Shares (mn) 304.09

MA (10-day) 225.74 Free Float Rs (mn) 65,342.00

MA (100-day) 212.11 ** NOI Rs (mn) 152.89

MA (200-day) 204.47 Mean 218.62

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,436.07 1,557.01 1,432.50 1,521.37 85.29 5.94

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

21,446,603 - - 29,771.58 mn 20,531.96 mn 1,521.37

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

22.32 0.49 2.21 104.74 7.29 1,404.52

1st Fid Leasing 264 10.00 1.55 2.00 1.50 1.60 0.05 17550 2.34 1.16 - - - -

AL-Meezan Mutual F. 1375 9.25 10.80 11.50 11.00 11.10 0.30 4098171 11.50 6.20 18.5 - - -

Atlas Fund of Funds 525 2.41 4.98 5.98 4.99 5.98 1.00 1537317 5.98 3.51 2.2 - - -

B R R Guardian Mod. 780 3.20 1.46 1.50 1.40 1.41 -0.05 9722 2.79 1.21 0 - - -

Crescent St Modaraba 200 1.55 0.54 0.70 0.52 0.62 0.08 2076 0.87 0.16 1.2 - - -

Equity Modaraba 524 11.38 1.95 1.87 1.80 1.82 -0.13 9998 2.98 1.15 - - - -

First Dawood Mutual F. 581 0.73 2.04 2.57 2.00 2.30 0.26 161913 2.57 1.61 - - - -

Golden Arrow 760 2.49 3.19 3.89 3.10 3.49 0.30 2890978 3.89 2.56 17 - - -

Habib Modaraba 1008 6.16 7.05 7.25 7.15 7.15 0.10 5000 7.30 6.11 21 - - -

JS Growth Fund 3180 75.00 5.50 6.17 5.60 6.00 0.50 2457307 6.17 3.20 5 - - -

JS Value Fund 1186 1.51 5.62 6.61 5.65 6.27 0.65 1265185 6.61 3.02 10 - - -

KASB Modaraba 283 2.17 2.20 2.95 2.95 2.95 0.75 1000 3.50 1.26 2.8 - - -

Meezan Balanced Fund 1200 2.69 9.57 10.24 9.25 9.37 -0.20 2865396 10.24 5.18 15.5 - - -

Mod Al-Mali 184 16.40 1.67 1.64 1.64 1.64 -0.03 1500 2.50 0.92 - - - -

NAMCO Balanced Fund 1000 6.45 4.00 4.73 4.10 4.13 0.13 22601 4.73 2.92 15 - - -

PICIC Energy Fund 1000 2.42 7.33 8.33 7.28 8.33 1.00 1558586 8.33 5.31 10 - - -

PICIC Growth Fund 2835 9.93 14.49 15.49 14.51 15.49 1.00 889158 15.49 8.75 20 - - -

PICIC Inv Fund 2841 8.74 6.70 7.70 6.56 7.69 0.99 3618605 7.70 4.15 10 - - -

Prud Modaraba 1st 872 2.27 1.05 1.10 1.00 1.00 -0.05 9839 1.20 0.81 3 - - -

Punjab Modaraba 340 - 1.15 1.30 1.30 1.30 0.15 500 2.54 0.50 1 - - -

Safeway Mutual Fund 545 7.53 7.70 8.00 7.52 7.53 -0.17 15505 9.00 5.01 18.2 - - -

Stand Chart Modaraba 454 4.78 9.78 9.80 9.73 9.75 -0.03 6335 10.29 8.51 17 - - -

Tri-Star 1st Modaraba 212 - 0.99 1.25 1.23 1.23 0.24 101 1.75 0.70 - - - -

Tri-Star Mutual 50 3.72 1.27 1.40 1.34 1.34 0.07 2000 2.00 0.60 - - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

399.08 411.63 391.46 395.92 -3.16 -0.79

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

3,575,436 - - 30,336.44 mn 18,470.52 mn 411.21

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

11.71 0.26 0.91 99.56 3.43 395.92

AMZ Ventures 225 1.43 0.56 0.69 0.57 0.63 0.07 28288 0.95 0.33 - - - -

Arif Habib Investments 360 4.30 20.80 21.84 20.12 21.83 1.03 107963 22.40 16.80 - 20B - -

Arif Habib Limited 450 12.76 25.33 25.60 24.51 25.00 -0.33 79355 28.00 24.51 - 20B - -

Arif Habib Corp 3750 4.59 25.05 25.47 24.80 24.95 -0.10 1018914 30.20 23.35 30 - - -

Dawood Cap Mangt. XB 150 1.26 1.30 1.74 1.35 1.41 0.11 37224 2.14 1.15 - - - -

Dawood Equities 250 - 1.92 1.90 1.65 1.75 -0.17 69601 2.75 1.28 - - - -

First Credit & Invest Bank Ltd 650 12.50 3.00 3.70 3.00 3.00 0.00 200 4.00 2.15 - - - -

Grays Leasing 215 - 2.50 2.50 2.21 2.21 -0.29 5001 3.00 0.18 - - - -

IGI Investment Bank 2121 15.50 2.40 2.50 2.40 2.48 0.08 8460 3.90 2.26 - - - -

Invest and Fin Sec 600 748.00 7.73 7.48 7.15 7.48 -0.25 6002 8.98 6.22 11.5 - - -

Invest Bank 2849 - 0.65 0.79 0.50 0.60 -0.05 16289 1.09 0.46 - - - -

Ist Cap Securities 3166 - 3.41 3.49 3.22 3.24 -0.17 75619 3.95 2.95 - 10B - -

Ist Dawood Bank 626 0.64 1.70 1.80 1.70 1.79 0.09 43909 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 11.04 11.48 10.91 10.98 -0.06 2679415 14.05 10.36 10 - - -

JOV and CO 508 - 3.68 3.80 3.65 3.65 -0.03 94674 4.60 3.51 - - - -

JS Global Cap 500 7.06 26.60 26.55 26.00 26.25 -0.35 6377 32.00 25.00 - - - -

JS Investment 1000 27.92 6.56 6.90 6.60 6.70 0.14 234709 7.59 6.20 - - - -

KASB Securities 1000 - 4.58 4.88 4.56 4.62 0.04 15968 5.43 3.80 - - - -

Orix Leasing 821 4.60 6.50 6.25 6.15 6.25 -0.25 7139 7.29 5.51 - - - -

Pervez Ahmed Sec 775 - 1.99 2.00 1.90 1.90 -0.09 59405 2.50 1.84 - - - -

Paid up Last 60 days 2010 2011

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

750.29 748.97 721.92 728.76 -21.53 -2.87

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

21,379 - - 2,290.72 mn 8,564.58 mn 773.50

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

5.39 3.19 3.85 355.53 4.29 728.76

East West Life 500 - 2.06 2.11 2.11 2.11 0.05 300 4.62 1.52 - 20R - -

EFU Life Assurance 850 34.26 62.04 62.00 60.00 60.30 -1.74 19056 86.95 60.00 - - - -

New Jub Life Insurance 627 26.85 41.00 40.05 39.05 40.00 -1.00 2000 49.31 39.05 - - - -

Paid up Last 60 days 2010 2011

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,153.63 1,161.70 1,126.50 1,133.53 -20.10 -1.74

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

7,336,758 - - 257,548.02 mn 689,764.29 mn 1,178.22

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

8.18 1.14 13.94 40.49 4.95 1,133.53

Allied Bank Limited 7821 6.88 70.94 72.00 68.50 70.84 -0.10 183470 74.00 57.10 20 - - -

Askari Bank 6427 7.85 16.49 16.73 16.25 16.49 0.00 341851 19.25 15.53 - - - -

Bank Alfalah 13492 14.27 11.21 11.25 11.05 11.13 -0.08 623103 11.99 9.48 - - - -

Bank AL-Habib 7322 7.75 36.09 36.25 35.90 35.98 -0.11 253538 39.49 32.10 - - - -

Bank Of Khyber 5004 5.55 4.15 4.30 4.15 4.16 0.01 28805 4.70 3.62 - - - -

Bank Of Punjab 5288 - 8.44 8.48 8.30 8.31 -0.13 1135851 10.59 7.98 - - - -

BankIslami Pak 5280 920.00 3.80 3.78 3.62 3.68 -0.12 39882 4.50 3.00 - - - -

Faysal Bank 7327 4.55 14.21 14.31 14.05 14.11 -0.10 24243 17.05 13.55 - 20B - -

Habib Bank Ltd 10019 7.69 123.48 124.00 123.06 123.13 -0.35 57136 128.97 102.55 - - - -

Habib Metropolitan Bank 8732 7.79 25.60 25.79 25.38 25.46 -0.14 2963 29.28 20.50 - - - -

JS Bank Ltd 8150 - 2.52 2.63 2.47 2.62 0.10 583434 2.95 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.65 1.74 1.60 1.61 -0.04 204602 2.80 1.49 - - - -

MCB Bank Ltd 7602 9.68 222.58 223.50 213.50 214.88 -7.70 1140101 250.48 199.00 85 10B - -

Meezan Bank 6983 9.96 18.99 19.05 18.82 18.83 -0.16 110998 20.30 14.52 - - - -

Mybank Ltd 5304 - 2.60 2.80 2.55 2.60 0.00 48949 3.40 1.90 - - - -

National Bank 13455 6.61 76.26 76.87 75.51 75.71 -0.55 1488914 80.61 65.26 - - - -

NIB Bank 40437 - 2.74 2.75 2.70 2.72 -0.02 192429 3.35 2.63 - - - -

Samba Bank 14335 - 1.89 1.89 1.80 1.86 -0.03 31570 2.17 1.70 -63.46R - -

Silkbank Ltd 26716 - 2.50 2.55 2.46 2.47 -0.03 513026 3.05 2.44 - - - -

Soneri Bank 6023 - 6.90 7.27 6.76 6.81 -0.09 36462 8.48 6.76 - - - -

Stand Chart Bank 38716 11.25 7.49 7.59 7.30 7.31 -0.18 11959 9.04 7.00 - - - -

Summit Bank Ltd XR 7251 - 3.32 3.79 3.32 3.59 0.27 598007 4.63 2.74 - - - -

United Bank Ltd 12242 7.60 65.23 65.50 64.25 64.64 -0.59 283470 70.65 57.25 10 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

785.76 793.35 769.35 773.02 -12.74 -1.62

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

514,401 - - 11,111.34 mn 47,729.16 mn 799.80

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

12.89 0.67 5.20 79.54 6.17 773.02

Adamjee Insurance 1237 25.72 90.50 90.75 88.50 88.75 -1.75 138563 96.40 77.50 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,657.68 1,689.42 1,613.54 1,648.83 -8.85 -0.53

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

6,225,676 - - 12,202.80 mn 36,237.12 mn 1,700.89

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

10.47 1.19 11.41 66.79 6.38 1,643.21

Sui North Gas 5491 7.60 26.09 26.20 25.30 25.55 -0.54 255723 34.00 25.30 20 - - -Sui South Gas 8390 3.99 26.20 27.10 25.60 26.47 0.27 5969953 27.90 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,324.49 1,337.05 1,298.71 1,306.88 -17.62 -1.33

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

5,251,957 - - 95,369.29 mn 107,317.77 mn 1,350.84

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

14.16 1.32 9.35 104.13 7.35 1,306.88

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,103.93 1,114.66 1,081.94 1,094.87 -9.06 -0.82

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

2,288,601 - - 50,077.79 mn 75,632.59 mn 1,114.61

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

5.90 0.76 12.84 62.56 10.60 1,094.87

Pak Datacom 78 4.85 78.31 78.50 77.11 78.50 0.19 211 82.99 76.50 80 - - -Pakistan Telecomm Co A 37740 12.35 18.71 18.84 18.31 18.52 -0.19 1980676 20.65 18.19 17.5 - - -Telecard 3000 0.64 2.12 2.19 2.12 2.15 0.03 85956 2.67 2.01 1 - - -WorldCall Tele 8606 - 2.61 2.71 2.58 2.62 0.01 221758 3.45 2.51 - - - -Wateen Telecom Ltd 6175 - 3.57 3.63 3.50 3.60 0.03 65104 4.65 3.40 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 204 6.21 10.25 10.25 10.20 10.25 0.00 534 12.75 10.00 - 25R - -

Atlas Insurance 369 5.90 37.45 37.82 37.00 37.11 -0.34 6416 40.00 33.11 - - - -

Central Insurance XB 279 8.01 71.00 70.50 68.10 70.50 -0.50 4293 83.00 54.10 10 10B - -

Century Insurance 457 6.32 10.38 10.75 10.00 10.11 -0.27 22250 11.99 10.00 - - - -

Crescent Star Insurance 121 - 4.98 5.94 3.98 4.09 -0.89 35108 6.30 3.10 - - - -

EFU General Insurance 1250 - 40.67 41.15 38.70 38.92 -1.75 45919 47.90 38.50 - - - -

Habib Insurance 400 3.14 13.00 13.20 12.80 13.20 0.20 4788 15.50 11.01 - - - -

IGI Insurance 718 17.11 92.60 93.99 92.10 92.20 -0.40 5885 99.88 81.10 10 20B - -

Pak Reinsurance 3000 44.49 17.63 17.85 17.25 17.35 -0.28 234513 19.40 15.36 - - - -

Pak Gen Insurance 250 1.82 8.48 7.71 7.60 7.71 -0.77 300 9.95 6.01 - - - -

PICIC Ins Ltd 350 - 8.99 9.00 9.00 9.00 0.01 5000 10.75 6.00 - - - -

Premier Insurance 303 6.00 11.19 11.20 11.00 11.10 -0.09 9702 12.93 9.40 - - - -

United Insurance XB 400 2.30 6.80 7.00 6.76 7.00 0.20 1010 7.80 5.00 - - - -

UPTO 100 VOLUME

ADAMS 15.60 15.39 15.20 15.39 -0.21 100

ATLH 136.95 136.50 136.35 136.35 -0.60 100

FANM 3.30 3.10 3.10 3.10 -0.20 100

FUDLM 6.12 6.30 6.30 6.30 0.18 100

PNGRS 3.95 3.80 3.80 3.80 -0.15 100

UVIC 2.99 3.00 2.80 2.80 -0.19 100

SIEM 1100.00 1102.00 1065.50 1069.89 -30.11 99

MRNS 56.43 56.49 56.49 56.49 0.06 70

BATA 640.00 672.00 628.00 631.77 -8.23 68

ILTM 115.76 121.54 121.54 121.54 5.78 53

CPMFI 3.50 4.19 4.19 4.19 0.69 50

GRAYS 47.01 49.00 48.00 48.00 0.99 50

KSTM 0.65 0.69 0.55 0.67 0.02 45

UPFL 1215.73 1276.51 1276.51 1276.51 60.78 41

SPLC 0.69 0.63 0.62 0.63 -0.06 32

MUKT 0.33 0.74 0.33 0.44 0.11 28

ALICO 17.50 18.50 16.50 16.50 -1.00 23

FECS 35.21 36.97 34.03 34.26 -0.95 23

CHAS 9.00 9.80 9.00 9.65 0.65 22

ISTM 7.95 7.90 7.90 7.90 -0.05 20

MEHT 61.00 58.95 57.95 58.95 -2.05 14

NJICL 58.00 60.25 58.00 58.00 0.00 13

ISIL 76.99 78.48 73.15 78.48 1.49 12

SANSM 12.20 12.15 11.60 12.15 -0.05 12

IDSM 9.15 8.15 8.15 8.15 -1.00 11

PRWM 14.90 14.50 14.00 14.00 -0.90 11

PTEC 2.38 2.50 2.00 2.00 -0.38 11

SHCI 2.28 2.34 2.34 2.34 0.06 11

FCONM 1.21 1.21 1.21 1.21 0.00 10

GUTM 20.30 19.29 19.29 19.29 -1.01 10

PGCL 20.63 19.63 19.62 19.63 -1.00 10

BROT 0.44 0.52 0.52 0.52 0.08 9

EMCO 2.55 2.91 2.90 2.91 0.36 6

FZCM 56.10 58.90 53.35 54.28 -1.82 6

PMRS 43.00 42.00 40.85 41.85 -1.15 6

SSIC 7.10 7.10 6.81 6.81 -0.29 6

HUSI 6.17 6.50 6.05 6.23 0.06 5

ADOS 16.18 15.96 15.96 15.96 -0.22 4

CSUML 2.53 3.45 2.51 3.09 0.56 4

DIIL 10.73 11.73 10.02 10.88 0.15 4

JOPP 12.50 13.50 11.50 12.00 -0.50 4

LAKST 261.01 269.99 250.51 250.51 -10.50 3

PAKT 109.00 113.00 113.00 113.00 4.00 3

SIBL 2.60 3.20 2.60 2.75 0.15 3

SING 22.50 23.62 21.40 22.35 -0.15 3

KOSM 1.25 1.47 1.00 1.00 -0.25 2

MFFL 72.30 75.91 69.25 75.91 3.61 2

MTIL 0.40 0.55 0.31 0.43 0.03 2

NMBL 1.39 2.00 1.41 1.41 0.02 2

SHSML 9.16 8.81 8.70 8.81 -0.35 2

AASM 26.13 25.80 25.51 25.80 -0.33 1

AZAMT 2.50 2.63 2.63 2.63 0.13 1

BAFS 59.00 60.00 58.00 58.00 -1.00 1

BIFO 44.00 45.95 45.95 45.95 1.95 1

CLCPS 2.99 3.99 2.99 2.99 0.00 1

DATM 0.45 0.45 0.45 0.45 0.00 1

DINT 28.57 29.94 29.90 29.90 1.33 1

ESBL 2.49 2.44 2.39 2.39 -0.10 1

FNEL 5.21 4.81 4.81 4.81 -0.40 1

GATM 29.00 29.00 29.00 29.00 0.00 1

GSPM 7.34 7.68 7.68 7.68 0.34 1

HINO 129.00 135.00 128.00 128.00 -1.00 1

JKSM 7.94 8.25 8.24 8.24 0.30 1

KML 2.85 3.75 2.89 2.89 0.04 1

LATM 9.00 10.00 9.99 9.99 0.99 1

MOON 16.05 16.80 16.80 16.80 0.75 1

MQTM 7.90 7.85 7.85 7.85 -0.05 1

SALT 74.74 71.01 71.01 71.01 -3.73 1

SGPL 0.82 1.49 1.10 1.10 0.28 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

UBL-FEB 65.62 65.70 64.55 64.84 -0.78 1479500

MCB-FEB 224.13 224.00 214.25 216.68 -7.45 480500

POL-FEB 325.99 326.00 320.00 320.69 -5.30 431000

FFBL-FEB 41.76 41.79 41.32 41.45 -0.31 385000

NML-FEB 66.11 66.45 65.10 65.35 -0.76 313500

ANL-FEB 11.07 11.30 10.86 10.96 -0.11 308000

POL-FEBB 318.33 317.99 312.00 312.81 -5.52 305000

FFC-FEBB 119.54 120.80 119.00 119.93 0.39 255000

LUCK-FEB 71.09 71.30 69.10 69.65 -1.44 249000

DGKC-FEB 28.85 28.95 28.30 28.45 -0.40 225500

NBP-FEB 76.80 77.15 76.00 76.07 -0.73 223000

ENGRO-FEB 216.95 217.49 214.00 214.68 -2.27 214500

PSO-FEB 290.86 291.05 280.00 281.64 -9.22 212500

FFC-FEB 150.84 151.90 150.40 151.15 0.31 180000

PPL-FEB 213.84 213.45 210.10 210.99 -2.85 83000

NETSOL-FEB 25.53 25.80 24.26 24.26 -1.27 81500

AICL-FEB 91.12 90.75 89.00 89.11 -2.01 43000

NCL-FEB 25.63 25.70 25.01 25.56 -0.07 38000

OGDC-FEB 170.67 170.99 169.00 169.45 -1.22 18500

BOP-FEB 8.50 8.51 8.36 8.38 -0.12 13000

HUBC-FEB 39.49 38.25 38.00 38.00 -1.49 5500

PTC-FEB 18.80 18.75 18.75 18.75 -0.05 2000

Symbols Open High Low Close Change Vol

ZERO VOLUME

AABS 101.79 97.00 97.00 97.00 -4.79 0.00

ARM 15.25 15.30 15.30 15.30 0.05 0.00

BAPL 8.00 7.80 7.80 7.80 -0.20 0.00

BILF 1.50 1.49 1.49 1.49 -0.01 0.00

FHBM 7.39 7.40 7.40 7.40 0.01 0.00

FPRM 9.18 9.00 9.00 9.00 -0.18 0.00

ICCT 1.32 1.31 1.31 1.31 -0.01 0.00

NATM 18.00 19.00 19.00 19.00 1.00 0.00

NOPKNV 15.75 15.70 15.70 15.70 -0.05 0.00

OTSU 34.00 33.99 33.99 33.99 -0.01 0.00

PSEL 171.00 169.99 169.99 169.99 -1.01 0.00

RUBY 8.20 8.00 8.00 8.00 -0.20 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 44.99 2.90 2.80 3.10 3.25 3.00

Allied Bank Limited 50.77 68.90 66.95 72.40 73.95 70.45

Attock Cement 12.31 51.35 51.25 51.75 52.00 51.65

Arif Habib Corp 42.09 24.65 24.40 25.35 25.75 25.05

Arif Habib Limited 39.10 24.50 23.95 25.55 26.15 25.05

Adamjee Insurance 44.35 87.90 87.10 90.15 91.60 89.35

Askari Bank 35.60 16.25 16.00 16.75 16.95 16.50

Azgard Nine 49.14 10.75 10.60 11.15 11.35 11.00

Attock Petroleum 55.94 376.40 372.50 385.80 391.25 381.90

Attock Refinery 36.48 117.75 116.35 121.30 123.45 119.90

Bank Al-Falah 47.04 11.05 10.95 11.25 11.35 11.15

BankIslami Pak 42.98 3.60 3.55 3.75 3.85 3.70

Bank.Of.Punjab 33.51 8.25 8.20 8.40 8.55 8.35

Dewan Cement 45.39 1.95 1.90 2.05 2.10 2.00

D.G.K.Cement 38.20 28.05 27.80 28.75 29.15 28.50

Dewan Salman 49.80 2.90 2.85 3.10 3.25 3.05

Dost Steels Ltd 39.35 2.45 2.40 2.55 2.60 2.50

EFU General Insurance 37.35 38.05 37.15 40.50 42.05 39.60

EFU Life Assurance 21.71 59.55 58.75 61.55 62.75 60.75

Engro Chemical 54.82 212.00 210.35 215.90 218.15 214.25

Faysal Bank 38.64 14.00 13.90 14.25 14.40 14.15

Fauji Cement 32.84 4.50 4.45 4.65 4.75 4.60

Fauji Fert Bin 58.64 41.00 40.80 41.55 41.85 41.30

Fauji Fertilizer 63.88 150.25 149.35 152.05 152.90 151.15

Habib Bank Ltd 50.68 122.80 122.45 123.75 124.35 123.40

Hub Power 45.56 37.45 37.10 38.45 39.05 38.05

ICI Pakistan 51.68 146.90 145.55 149.80 151.35 148.45

Indus Motors 59.46 280.35 270.65 294.85 299.65 285.15

J.O.V.and CO 41.81 3.60 3.55 3.75 3.85 3.70

Japan Power 44.23 1.55 1.50 1.70 1.80 1.65

JS Bank Ltd 56.97 2.50 2.40 2.65 2.75 2.55

Jah Siddiq Co 44.21 10.75 10.55 11.35 11.70 11.10

Kot Addu Power 45.17 42.00 41.65 42.80 43.25 42.45

K.E.S.C 47.83 2.70 2.60 2.90 3.00 2.80

Lotte Pakistan 61.16 16.00 15.85 16.35 16.55 16.20

Lucky Cement 33.02 67.45 66.25 70.35 72.15 69.20

MCB Bank Ltd 34.65 211.10 207.30 221.10 227.30 217.30

Maple Leaf Cement 46.18 2.60 2.55 2.70 2.75 2.65

National Bank 45.88 75.20 74.65 76.55 77.40 76.05

Nishat (Chunian) 60.68 24.65 24.00 25.90 26.50 25.25

Netsol Technologies 50.77 23.65 23.15 25.20 26.20 24.70

NIB Bank 39.12 2.65 2.60 2.75 2.80 2.70

Nimir Ind.Chemical 66.78 2.70 2.65 2.90 3.00 2.80

Nishat Mills 46.27 64.40 63.80 65.95 66.90 65.35

Oil & Gas Dev. XD 41.96 168.30 166.85 171.55 173.30 170.10

PACE (Pakistan) Ltd. 50.76 2.95 2.90 3.15 3.25 3.05

Pervez Ahmed Sec 42.45 1.90 1.85 2.00 2.05 1.95

P.I.A.C.(A) 63.06 2.60 2.50 2.80 2.90 2.70

Pioneer Cement 39.53 6.30 6.15 6.75 7.00 6.60

Pak Oilfields 48.10 318.20 315.80 324.50 328.40 322.10

Pak Petroleum 41.99 208.50 207.00 212.75 215.50 211.25

Pak Suzuki 34.26 63.20 62.70 64.50 65.30 64.00

P.S.O. XD 34.82 275.70 271.15 287.60 295.00 283.05

P.T.C.L.A 36.95 18.30 18.05 18.80 19.10 18.55

Shell Pakistan 57.74 212.80 210.95 216.70 218.75 214.85

Sui North Gas 34.19 25.15 24.80 26.05 26.60 25.70

Sitara Peroxide 66.39 13.95 13.80 14.35 14.60 14.20

Sui South Gas 70.65 25.70 24.90 27.20 27.90 26.40

Telecard 48.55 2.10 2.05 2.20 2.25 2.15

TRG Pakistan 39.58 3.05 3.00 3.20 3.30 3.15

United Bank Ltd 39.72 64.10 63.55 65.35 66.05 64.80

WorldCall Tele 42.83 2.55 2.50 2.70 2.75 2.65

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

PICIC Growth Fund 11-Feb 10:30

PICIC Investment Fund 11-Feb 10:30

PICIC Energy Fund 11-Feb 10:30

Meezan bank Limited 11-Feb 9:30

Allied Bank Limited 11-Feb 11:00

Cherat Cement Company Ltd 11-Feb 3:00

Sanofi Aventis Pakistan Ltd 11-Feb 3:30

Nishat Power Limited 11-Feb 11:00

Ferozsons (Lab) Pakistan 11-Feb 2:30

Pakistan PVC Limited 12-Feb 9:30

Tri-Pack Films Ltd 12-Feb 11:00

First Prudential Modaraba 12-Feb 11:30

Al-Ghazi Tractors Limited 14-Feb 3:00

Rafhan Maize Products Com Ltd 14-Feb 11:30

Nestle Pakistan Limited 14-Feb 9:30

Central Forest Products Ltd 14-Feb 10:00

Sitara Chemical Industries Ltd 14-Feb 11:00

Pakistan Paper Products Ltd 14-Feb 11:30

Unilever Pakistan Limited 14-Feb 2:30

Engro Corporation Limited 14-Feb 9:30

BOARD MEETINGS

Company Date Time

Genertech 198 - 0.70 0.80 0.71 0.76 0.06 5509 1.18 0.65 - - - -Hub Power 11572 6.93 38.47 38.69 37.70 37.83 -0.64 1471868 41.20 33.50 50 - - -Japan Power 1560 - 1.59 1.75 1.60 1.60 0.01 101005 2.15 1.50 - - - -KESC 7932 - 2.76 2.90 2.70 2.79 0.03 1032620 3.55 2.14 - 7.8R - -Kohinoor Energy 1695 9.91 18.24 19.10 17.50 17.83 -0.41 4152 22.85 17.25 15 - - -Kohinoor Power 126 2.53 4.11 4.49 4.15 4.15 0.04 3590 5.39 3.85 - - - -Kot Addu Power 8803 5.14 42.80 42.90 42.10 42.33 -0.47 117722 45.85 39.00 50 - - -Nishat Chunian Power Ltd 3673 3.56 16.43 16.51 16.11 16.22 -0.21 1040903 18.01 13.32 - - - -Nishat Power Ltd 3541 27.87 17.53 17.70 17.10 17.28 -0.25 1031875 18.70 14.25 - - - -Sitara Energy Ltd 191 3.36 17.50 18.50 17.50 18.00 0.50 158050 19.35 16.50 20 - - -Southern Electric 1367 - 2.00 2.10 2.01 2.03 0.03 284261 2.80 1.97 - - - -Tri-star Power XD 150 - 0.93 0.94 0.91 0.93 0.00 401 1.49 0.70 - - - -

Indian cbank resolvesto up financial inclusion

UK banks 2010 profitsto rise but risks abound

Friday, February 11, 2011 8

Low-cost autoinsurance forSCBPL family

ISLAMABAD: SupremeCourt of Pakistan has said nothe State Bank of Pakistan’s(SBP) proposal that a commis-sion be formed to look into thebank loans worth Rs256 bil-lion written-off during 1971-2009.

It also observed that SBP hasfailed to deal with the issue.

The court instead asked theSBP counsel to submit detailsof the loans waived off duringthe last two years.

The four-member benchcomprising Chief JusticeIftikhar Muhammad Chaudhry,Justice Muhammad Sair Ali,Justice Ghulam Rabbani andJustice Khalil-ur-RehmanRamday resumed hearing of asuo moto notice related to thewaiver of Rs256 billion bankloans from 1971 to 2009.

Syed Iqbal Haider, counselfor the SBP, apprised the benchthat about 50000 people gottheir loans waived off duringthe said period.

He said that the prime func-tion of SBP was that of a regu-latory authority and not of asupervisory one. He said theprivate banks were regulatedthrough their boards of direc-tors.

He was of the view thatgoing through the details ofwritten off loans during lastmany years would be a hugetask and a commission shouldbe formed to deal with theissue.

The Chief Justice observedthat the SBP was thinking thatthe court is innocent of what'sgoing on.

"Tell us about certain people

who had their loans written offand are now dying of hunger.You let the influential peopleoff the hook and tighten yournoose around the poor peopleonly ", he added.

He asked the counsel to pro-vide details regarding cancel-lation of licence of any bankfor violation of the rules andregulations.

Justice Muhammad Sair Aliasked him to provide informa-tion about legal action takenagainst any bank for writingoff loans illegally or against adefaulter.

He said that in most cases,the loans were written off onpolitical basis.

Justice Ramday told thecounsel that under Section 40-A of the Banking CompaniesOrdinance 1962, the SBP had

the responsibility to safeguardinterests of the depositors.

He said under the Section 41,it was the responsibility ofSBP to supervise whether anybank was working against thepublic interest.

He observed that the SBP'sapproach to deal with the issuehas failed.

Chief Justice said that it wasnational wealth which shouldbe recovered at all cost.

He added the apex courtwould go to every extent forthe recovery of the amountirrespective of how much aperson was influential.

He said there was a demo-cratic setup in the country andthe government could legislatethe recovery of waived loans.

Hearing was adjourned tillFebruary 14. -Agencies

Staff Correspondent

KARACHI: StandardChartered Bank (Pakistan)Limited - SCBPL- and TPLDirect Insurance Ltd (TDI)signed an agreement that allowsall Standard Chartered accountand credit card holders to be eli-gible for an exclusive discounton TDI Auto InsuranceProducts. This will enableSCBPL customers to get themost competitive auto insur-ance rates in the market.

Standard Chartered isPakistan's largest internationalBank. The bank is keen onbuilding longterm partnershipswith its clients by offeringbanking solutions that help addvalue to their businesses.

Commenting on this agree-ment, Aalishaan Zaidi, Head of

Consumer Banking said, "Weare extremely pleased to launchanother enhancement to ourRetail Products. This agreementis a good example of StandardChartered living up to its brandpromise. It's here for good, andreflects our ongoing commit-ment towards bringing new andinnovative customer solutionsto the market."

Saad Nissar, CEO, TDI said,"TPL Direct Insurance andStandard Chartered Bank sharea common vision of customerconvenience and giving some-thing extra to create the rightvalue for their customers."

TDI is the first DirectInsurance Company of Pakistanoffering 24/7 services, withfastest insurance claim lodging,processing and settlement timesin the local industry.

KARACHI: Yaseen Anwar,Deputy Governor, State Bank ofPakistan has said that the centralbank is committed to provide anenabling and supportive legal,policy and regulatory frameworkfor the development of theIslamic banking industry onsound footings in the country.

While delivering a welcomenote at a talk on 'Narrowing thegap between philosophicalunderpinnings of Islamic finance& its practices' by Dr AbbasMirakhor, a renowned econo-mist & Islamic finance profes-sional and former ExecutiveDirector of the InternationalMonetary Fund at SBP, Karachion Thursday, Anwar said that theState Bank is taking a number ofinitiatives for the promotion ofIslamic finance in Pakistan.

He said that in addition todeveloping the regulatory, super-visory and Shariah complianceframework, SBP is also partner-ing with the industry to createawareness about the utility ofIslamic banking and finance inachieving socioeconomic pros-perity at the individual as well as

community and state levels."SBP also is helping to buildhuman resource capacity whichis critically important for theindustry for sustaining thegrowth momentum and improv-ing its footprint and share in thebanking system," he added.

SBP Deputy Governor said

that the Islamic banking Industryhas grown manifold since itslaunch in 2001 and presentlyconstitutes about 6.7 per cent ofthe banking system in Pakistan.The industry now has a networkof more than 750 branchesacross the country and given thestrong growth momentum andrising acceptability, it is likely toincrease its share to 10-12 percent over the next 2-3 years, he

said. "The overall outlook for theindustry in Pakistan is thus posi-tive and its prospects to makefurther strides in the foreseeablefuture are very bright," he added.

Anwar said that the global out-look of the Islamic financeindustry is also positive as it hasbeen growing at a fast pace andextending its outreach beyondthe Muslim countries. Since2006 the industry grew on aver-age 28 per cent annually with itsasset base reaching about $1 tril-lion, he added.

He said that the recent crisis inthe western financial marketshas also given a big boost to theacceptability and promotion ofIslamic banking as a more stableand prudent system than its con-ventional counterpart. "Theinherent checks and balances inthe Islamic financial system,which prohibits Islamic banks todeal in speculative activities andstrongly links growth of finan-cial assets with that of the realeconomy largely kept theIslamic banks insulated from thefinancial crisis," he added.-Online

SBP vows backingfor Islamic banking

BoK assets sitstrong at Rs51bn

PESHAWAR: The Bank of Khyber (BoK) assetshave reached Rs51 billion by the end ofDecember 2010, showing the confidence of thecustomers with the blessing of Al-Mighty Allah.This was stated by Bilal Mustafa ManagingDirector BoK, while inaugurating BoK AnnualManagers Conference 2011 in the provincialmetropolis.

The annual managers conference was held toreview the operational activities and achieve-ments of the bank during 2010 and to finalise thetargets and operational strategy for the year 2011.Mustafa mentioned that in order to achievedesired goals, the BoK would further increase itsbranch network in 2011. In this connection, abranch expansion plan is already underway.

This initiative of the management will furtherstrengthen the bank and with increased networkof branches, the BoK would play its pivotal rolein socioeconomic development. BilalMustafa while reviewing the operational resultsof 2010, mentioned that the BoK's operationalresults show a tremendous growth. In order toachieve the desired targets, the branches shouldwork more aggressively and in a well-planned

manner, assuring that the Head Office coopera-tion and guidance in this regard will be availableto them for achieving the targets. He specificallyemphasised on home remittances business andmentioned that during 2010, BoK procured overRs10 billion home remittances.

He advised the branch managers that we couldeasily improve this figure by working more effi-ciently. He said that we are already having aplan to engage more exchange companies tocater the target clientele in various parts of theProvince. Mustafa also mentioned that the estab-lishment of Islamic Banking counters in all con-ventional banking branches will entertain clientswho wish to adopt Islamic banking modes.

The annual managers conference was attendedby Mir Javed Hashmat Executive Director BoK,Arbab Riaz Ahmed Group Head IslamicBanking, Imran Samad Group Head CreditManagement, apart from heads of various divi-sions of Head Office. While speaking on theoccasion Mir Javed Hashmat Executive DirectorBoK stressed upon the managers to work moreefficiently and with dedication to achieve excel-lence in operational target.-Online

SBL sets eyeson the summitStaff Reporter

KARACHI: The re-launch ofSummit Bank Limited (SBL)(formerly Arif Habib Bank) wasannounced by the bank's man-agement at a press briefing ses-sion held at a local hotel.

Summit Bank is one of thefastest growing CommercialBanks of the country supportedby an overseas investment enti-ty - Suroor Investment Limited.

After the successful mergerwith Atlas Bank, Summit Bankhas an increased network of 80branches having presence in 20different cities across Pakistanand Azad Jammu and Kashmir.As part of the merger, all Atlasbank customers are now part of"Summit Family" - who arepromised a satisfying bankingexperience. The bank's consoli-

dated Customer Deposits havealso gone up to Rs62 billion,number of accounts to about100,000 and advances to Rs44billion.

Addressing the media on theoccasion, Husain Lawai,President & CEO, SummitBank said, "We want to give ourcustomers a satisfying bankingexperience that is gearedtowards offering banking solu-tions in line with the changingcustomer needs. Our customerswill now benefit from a widerrange of products and servicesas well as an expanded networkof branches with severalonsite/offsite ATMs acrossPakistan. Besides, we havemany products in the pipeline tocater to varying financial needsof all the customer segments weare serving."

‘SBP defaulted onwaived-loans issue’

KARACHI: (L-R) The top management of Summit Bank, Anwar Lutfullah, Group Head Operations, HusainLawai, CEO and Zahir Esmail, Head of Retail/Branch Banking presiding at the launch of Summit Bank after

its merger with Atlas Bank. The new bank Promises a satisfying banking experience.-Staff Photo

KARACHI: Head of Retail Products, Standard Chartered Bank Hasnain Khoja, Head ofPremium Banking, Standard Chartered Bank Nazim Mahmood , CEO TDI Saad Nisarand COO, TDI Kazim Hasan, along with their respective team members.-Staff Photo

CJ says SBP thinks SC is innocent of what's going on

APEX COURT SAYS NO TO STATE BANK’S COMMISSION ON THE

State Bank re-adviseson Rs500banknote

Staff Reporter

ISLAMABAD: The StateBank of Pakistan has onceagain advised the general pub-lic to exchange the old-designand bigger-size banknote ofRs500from the field offices ofSBP Banking ServicesCorporation and the branchesof all commercial banksthroughout the country up toSeptember 30.

It may be recalled that theFederal Government has earliernotified that the old-designbanknote of Rs500 (introducedin April 1986) will cease to bethe legal tender and notexchangeable with effect fromOctober 1, 2011, says a Bankstatement issued here.-APP

DeutscheBank '10

profit hits2.3bn euros

FRANKFURT: The biggestGerman bank, Deutsche Bank,reported a 2010 fourth-quarternet profit of 605 million euros($ 835 million) and a full-yearfigure of 2.3 billion euros.

That represented a plunge of54 per cent from the bank's2009 net profit of five billioneuros.

The fourth-quarter figure rep-resented a fall of more than 53per cent from the same period ayear earlier, and was the resultof recent acquisitions andrestructuring costs.

Analysts polled by DowJones Newswires had forecast afourth-quarter net profit ofabout 800 million euros for thisyear.

Deutsche Bank said it wouldnonetheless propose anunchanged dividend of 75 eurocents per share.

"2010 has been a year ofinvestment and change forDeutsche Bank," chairmanJosef Ackermann acknowl-edged in a statement.

"In the process, while againdemonstrating the earningsstrength of our core businesses,we greatly improved our globalmarket position and are emi-nently well placed for furthergrowth," he added.-APP

FaysalBank in

PeshawarUniversity

PESHAWAR: A branch ofFaysal Bank was inaugurated atthe new academic block ofUniversity of Peshawar whichapart from its other bankingactivities would be responsiblefor taking deposits of theExamination fee of theUniversity of Peshawar onCampus.

The branch was formallyinaugurated by Vice ChancellorUniversity of Peshawar Prof DrAzmat Hayat Khan.

Addressing a ceremony afterthe inauguration, the ViceChancellor said that this branchhas been opened in the newacademic block to make it con-venient for the students so thatthey should have easy access indepositing their dues withouthaving to worry about the longqueues for submitting fees orpersonal cash withdrawals. Heappreciated the efforts of theFaysal Bank management formaking the bank operational ina short period of time and urgedthem to provide best facilitiesto the students so that their pre-cious time is not wasted in thebanking operational delays.

Treasurer University ofPeshawar Dr Sanaullah saidthat the bank is to provideonline facilities to the studentsand soon an ATM machinewould also be installed here forcash withdrawals as well.-APP

Deputy Governor hopes of IBIs growth

KUALA LUMPUR:Malaysian palm oil futuresended off three-year highs hitearlier on Thursday as tradersbooked some profits after a slewof industry data showed tightvegetable oil supplies at a timewhen demand has picked up.

Industry regulator MalaysianPalm Oil Board said Januarypalm oil stocks fell to a six-month low, as floods andheavy rains curbed output.

The benchmark April crudepalm oil contract on the BursaMalaysia DerivativesExchange rose as much as 0.9per cent to 3,967 ringgit($1,306), a level not reachedsince March 2008. The con-

tract later settled 0.1 per centlower at 3,926 ringgit a tonne.

Overall volumes more thandoubled to 35,028 lots at 25tonnes each, compared to theusual 15,000 lots. Cargo sur-veyor Intertek TestingServices said February 1-10palm oil exports jumped 45.7per cent from the same perioda month ago.

Another surveyor, SocieteGenerale de Surveillance, saw

a 28.5 per cent rise. The most active Sept. soyoil

contract on China's DalianCommodity Exchange rose 1.0per cent, playing catch up withoverseas markets after coun-try's financial markets wereclosed for one-week LunarNew Year holiday.

US soyoil for March deliveryfell 0.1 per cent in Asian tradeafter posting strong gains onthe USDA report. -Reuters

Palm off 3-year high;supply concerns remain

9Friday, February 11, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1250

January (3rd Wednesday) 1310 1255

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for February 09 2011

LME Official Prices, US$ per tonne for February 09 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2315 2537 9999 2574.5 28255 31490 2453.5 2475

Cash seller 2320 2538 10000 2575 28260 31495 2454 2480

3-months buyer 2305 2557 9972 2545 28275 31475 2471 2500

3-months seller 2315 2557.5 9973 2545.5 28280 31500 2472 2505

15-months buyer 2250 2620 9770 2495 27070 30990 2488 2545

15-months seller 2260 2625 9780 2500 27170 31040 2493 2555

27-months buyer 2250 2660 9335 2448 25720 2457 2600

27-months seller 2260 2665 9345 2453 25820 2462 2610

LONDON METAL EXCHANGE (METALS)

LONDON: US oil was upslightly on Thursday afternoonafter a volatile day which saw itspike $1 on strong US jobs dataand talk the Saudi King haddied, only to fade after reportsEgypt's leader Hosni Mubarakwould step down.

In London, Brent crude wasdown in choppy trade as the dol-lar climbed and OPEC reporteda boost in Januaryoutput.

"A bit of the pre-mium has comeout of the oil mar-kets... Obviously,if it's a peacefulstepdown (byMubarak) andanarchy stops on the streets, itwill completely ease fears that ofany remote possibility that theSuez Canal was ever going to bedisrupted," said RobMontefusco, at SucdenFinancial.

March ICE Brent was down by68 cents at $101.13 a barrel at1600 GMT having earlier risenby over $1 to $102.88 a barrel onreports that the Saudi king mighthave died. Saudi sources deniedthe reports

US crude for March was up 21

cents at $86.92 a barrel afterhaving risen earlier by $1 to ashigh as $87.77 a barrel as USjobless claims were reported at a2-1/2-year low.

"There's a little bit of rumblingon Europe and the euro is weak-ening and the dollar is strength-ening... I'd say the stronger dol-lar is the main factor," saidSimon Wardell, an oil analyst at

Global Insight."The rumour about the Saudi

King sent Brent higher and theBrent/WTI spread blew out andafter the denials Brent pulledback. The concern was about atransition of power in SaudiArabia with all this uncertaintyabout Egypt and the regiongoing on," said Phil Flynn, ana-lyst at PFGBest Research inChicago. Media reported thatEgypt's President of 30 yearsmay step down and the situationin the country would be clarified

soon, while the head of the USCIA said there was a "stronglikelihood" Mubarak would goon Thursday.

Higher OPEC production alsoweighed on prices after thegroup's monthly report said itsoil output rose to 29.72 millionbpd in January, the highest levelsince December 2008.

But oil demand growth fore-casts also rose,as both OPECand theInternat ionalEnergy Agencyadjusted theiroutlooks forconsumpt ionupwards.

OPEC revised global demandfor OPEC crude up by around400,000 bpd to 29.80 millionbpd. The group warned that oilprices would act to balance outdemand. And the IEA said oildemand will hit a record 90 mil-lion barrels per day (bpd) by thefourth quarter of 2011 in itsmonthly report. But the agencyalso added that rising OPEC pro-duction and comfortable oilstocks in developed economiesshould limit a further spike in oilprices. -Reuters

Oil pares gain on reportsMubarak stepping down

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Thursday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Feb111025.00, Mar11 1025.00,Apr11 1025.00, May11/Jul111035.00.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul111035.00-10.00, Aug11/Oct111010.00+0.00, Nov11/Jan121018.00-2.00, Feb12/Apr121025.00+0.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1480.00+0.00,Jul11/Sep11 1495.00+0.00,Oct11/Dec11 1435.00+15.00.

LINOIL: Any origin dlrstonne extank RotterdamFeb11/Mar11 1582.50-5.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Feb111325.00-10.00, Mar111325.00-10.00, Apr11/Jun111312.50-10.00, Jul11/Sep111290.00-10.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Mar11 1377.50,Apr11/Jun11 1350.00.

PALMOIL: RBD dlrs tonnefob Malaysia Mar111322.50+0.00, Apr11/Jun111295.00-2.50.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111340.00, Mar11 1330.00+0.00,Apr11/Jun11 1305.00+0.00,Jul11/Sep11 1267.50-2.50.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamJan11/Feb11 2350.00+20.00,Feb11/Mar11 2300.00+5.00,Mar11/Apr11 2280.00+5.00,Apr11/May11 2260.00+10.00.-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

10-Feb-2011 CRUDE100 MA11 US$ Per Barrel 87.44 87.89 86.00 86.53 372 86.83 86.53 214

10-Feb-2011 CRUDE100 AP11 US$ Per Barrel 90.58 91.00 89.35 89.87 85 90.20 89.87 44

10-Feb-2011 CRUDE100 MY11 US$ Per Barrel 93.31 93.31 92.96 92.96 - 93.28 92.96 3

10-Feb-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 30.35 30.46 29.71 29.81 195 30.13 29.81 43

10-Feb-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 30.30 30.30 29.81 29.81 - 30.14 29.81 1

10-Feb-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1365.40 1367.00 1355.80 1357.90 1,094 1362.10 1357.90 1,450

10-Feb-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1365.80 1367.10 1356.00 1358.40 1,151 1362.50 1358.40 1,507

10-Feb-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1366.70 1368.00 1356.50 1359.10 807 1363.20 1359.10 703

10-Feb-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1365.10 1365.10 1357.90 1357.90 - 1362.10 1357.90 -

10-Feb-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1364.00 1367.10 1356.40 1358.40 35 1362.50 1358.40 5

10-Feb-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1366.30 1366.30 1358.40 1358.40 - 1363.20 1359.10 -

10-Feb-2011 GOLD FE11 Per 10 grms 37380.00 37593.00 37380.00 37294.00 1 37483.00 37294.00 14

10-Feb-2011 GOLD MA11 Per 10 grms 37602.00 37602.00 37302.00 37302.00 - 37492.00 37302.00 1

10-Feb-2011 GOLD AP11 Per 10 grms 37500.00 37618.00 37425.00 37319.00 3 37508.00 37319.00 80

10-Feb-2011 KILOGOLD FE11 Per 10 grms 37566.00 37566.00 37266.00 37266.00 - 37455.00 37266.00 1

10-Feb-2011 KILOGOLD MA11 Per 10 grms 37574.00 37574.00 37275.00 37275.00 - 37464.00 37275.00 -

10-Feb-2011 TOLAGOLD50 FE11 Per Tola 43816.00 43816.00 43466.00 43466.00 - 43687.00 43466.00 -

10-Feb-2011 TOLAGOLD100 FE11 Per Tola 43816.00 43816.00 43466.00 43466.00 - 43687.00 43466.00 -

10-Feb-2011 MINIGOLD MON Per 10 grms 38648.00 38648.00 38331.00 38331.00 - 38524.00 38331.00 -

10-Feb-2011 MINIGOLD TUE Per 10 grms 38689.00 38689.00 38372.00 38372.00 - 38564.00 38372.00 -

10-Feb-2011 MINIGOLD WED Per 10 grms 38703.00 38703.00 38385.00 38385.00 - 38578.00 38385.00 -

10-Feb-2011 MINIGOLD THU Per 10 grms 38621.00 38621.00 38399.00 38399.00 - 38592.00 38399.00 -

10-Feb-2011 MINIGOLD FRI Per 10 grms 38635.00 38635.00 38318.00 38318.00 - 38510.00 38318.00 -

10-Feb-2011 TOLAGOLD MON Per Tola 44415.00 44415.00 44046.00 44046.00 - 44270.00 44046.00 2

10-Feb-2011 TOLAGOLD TUE Per Tola 44462.00 44462.00 44093.00 44093.00 - 44317.00 44093.00 11

10-Feb-2011 TOLAGOLD WED Per Tola 44478.00 44478.00 44109.00 44109.00 - 44332.00 44109.00 -

10-Feb-2011 TOLAGOLD THU Per Tola 44384.00 44384.00 44124.00 44124.00 - 44348.00 44124.00 -

10-Feb-2011 TOLAGOLD FRI Per Tola 44994.00 44994.00 44031.00 44031.00 10 44254.00 44031.00 43

10-Feb-2011 IRRI6W 10FE11 Per 100 kg 3171.00 3190.00 3171.00 3190.00 - 3171.00 3190.00 -

10-Feb-2011 RICEIRRI - 6 FE11 Per 100 kg 3177.00 3196.00 3177.00 3196.00 - 3177.00 3196.00 -

10-Feb-2011 RBD PALMOLEIN FE11 Per Maund 5512.00 5512.00 5510.00 5510.00 - 5512.00 5510.00 -

10-Feb-2011 KIBOR3M 11-Mar Per Rs. 100 86.18 86.20 86.18 86.20 - 86.18 86.20 -

10-Feb-2011 KIBOR3M 11-Jun Per Rs. 100 85.56 85.56 85.56 85.56 - 85.56 85.56 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Indian sugar

drops on

exports delayMUMBAI: Indian spot sugarprices fell for a third straight dayon Thursday on the government'sindecision over exports of500,000 tonnes sugar and asdemand stayed weak in an over-supplied market, dealers said.

"Prices are seen remainingunder pressure this monthunless government allowsexports," said a member ofBombay Sugar MerchantsAssociation (BSMA).

India has made available 1.62million tonnes of non-levysugar for February, including300,000 tonnes unsold stocksof January.

Non-levy, or free-sale sugar, issold by millers in the open mar-ket, but the quantity each millcan sell is fixed by the federalgovernment on a monthly basis.In Kolhapur, a key market in topproducing Maharashtra state, themost traded S-variety fell by 0.5per cent to 2,650 rupees ($58)per 100 kg.

Sugar contract for Marchdelivery on India's NationalCommodity and DerivativesExchange (NCDEX) ended up0.43 per cent at 2,783 rupees per100 kg on bargain-buying. Indiais likely to produce 25 milliontonnes of sugar in the new seasonthat began in Oct. 1, a producers'body said on Feb. 8, slightly low-ering its previous forecast asunseasonal rains trimmed caneyields in a key state. -Reuters

HENAN - CHINA: Farmers watering their drought-stricken wheat field in Luoyang, north China's

Henan province, as the worst drought in six decades affecting large swathes of northern China. -Agencies

LONDON: Copper edged up onThursday, bouncing from earlierlosses as the dollar pared gainsversus the euro, but with priceslosing a grip of this week'srecord high.

The market kept a keen eye onthe demand outlook in China,after an interest-rate hike in thetop base metals consumer onTuesday.

Three-month copper on theLondon Metal Exchange tradedclosed at $9,951 a tonne, againsta close of $9,925 on Wednesdayand after striking a record highof $10,160 on Monday.

"Copper's...a bit overheated forthe moment," VTB Capital ana-lyst Andrey Kryuchenkov said,adding concerns about Chinesedemand had dented copper afterthe rate hike.

"For a sustained push over$10,000 you'll need China com-ing back and restocking," hesaid.

It was the second Chinese ratehike in just over six weeks as thegovernment intensified a battleto quell high inflation in the fastexpanding economy.

Helping metals bounce, thedollar pared gains versus theeuro. A stronger US dollar detersnon-US investors.

Copper prices have risenaround 3 per cent since thebeginning of January, supportedby generally positive economicdata, which suggested strongerdemand for a metal that is inshort supply.

The metal earlier erased lossesbriefly, to trade flat, after datashowed US claims for unem-ployment benefits dropped morethan expected last week.

Copper prices remained highenough to deter physical demandfor the metal, as consumers workthrough surplus Chinese inven-tory.

More supply could be on tap.Chile, the world's top copperproducer, moved to head off an

energy squeeze due to a pro-longed drought.

Global miner Rio Tinto said itwould continue to focus on itsexpansion projects, after approv-ing $12 billion worth of worklast year. Further denting confi-dence in demand, stocks of cop-per in LME warehouses last rose550 tonnes to 396,950 tonnes,continuing a recent trend.

Reflecting moribund physicaldemand, the ratio of stocks tocancelled warrants -- the metaltagged for removal from ware-houses -- has fallen near 3 percent, the lowest levels sinceApril 2010.

Aluminium stocks rose 1,125tonnes to within reach of arecord of around 4.6 milliontonnes. The metal closed at$2,537 a tonne, from $2,546 atthe close on Wednesday.

Zinc was at $2,448 a tonnefrom $2,458 at the close. Tinclosed at $31,500 a tonne from$31,255, while nickel was at$27,875 a tonne from $28,375.Lead was at $2,510 a tonne from$2,250 at the close onWednesday. -Reuters

Copper up but Chinademand worries linger

Cocoa jumpsto 1-yr peak;

Sugar upLONDON: Cocoa futures onICE leapt to their highest inover a year on Thursday asinvestors scrambled to covershort positions after theMarch/May spread tightened,dealers said.

Sugar surged in volatile tradingbut remained within its recentrange, with investors eyeingdevelopments in India. Arabicasnudged lower as weak globalequity markets and a firmer dol-lar led some investors to closeout positions followingWednesday's 13-1/2-year peak.

ICE cocoa futures for Mayjumped 4.5 per cent to $3,431 atonne, the highest level for thesecond position since late January2010, before retreating to $3,375a tonne at 1556 GMT, which wasstill up $92 or 2.8 per cent.

Backwardation on ICE, withthe March position spiking toas high as $24 above May, ver-sus a small discount during theprior session, suggests renewedconcerns about supply tight-ness. London's May cocoa con-tract rose 48 pounds or 2.3 percent to 2,182 pounds per tonne,still below its six-month peakof 2,269 pounds a tonne.

Sugar climbed as investorscontinued to fret about exportsfrom India, the world's No. 2producer after Brazil, butremained in a tight range,below recent peaks and lows.

The key March raw sugarcontract on ICE rose 1.18 centor 3.8 per cent to 32.68 cents alb at 1556 GMT after jumpingas much as 5 per cent on invest-ment fund buying. London'sMarch white sugar futures wereup $28.50 or 3.7 per cent to$790.00 per tonne, below therecord high of $857.00.

In coffee, ICE futures wereslightly down in choppy trad-ing. New York's benchmarkMay arabicas eased 0.15 centsor 0.1 per cent to $2.5550 per lbat 1607 GMT after touching$2.56 a lb on Wednesday, theirhighest since June 1997.

Liffe May robusta coffee waslargely steady at $2,253 pertonne, below its 2-1/4-yearhigh of $2,287. -Reuters

LONDON: Gold edged high-er on Thursday as speculationEgyptian President HosniMubarak was to step downimminently arrested earlylosses in the metal, but pricesremained under pressure fromthe firmer dollar and sharperrisk appetite.

Spot gold was bid at$1,364.20 an ounce at 1632GMT, against $1,362.89 latein New York on Wednesday.US gold futures for Aprildelivery was off 60 cents at

$1,364.90.The metal earlier slipped as

low as $1,350.25 an ounce asthe dollar firmed and afterupbeat US jobs data reinforcedinvestor optimism over theoutlook for growth, erodingsome appetite for perceivedsafe-havens.

It later pared losses amongheavy speculation Mubarakwas set to step down as earlyas tonight after days ofprotests in Egypt against hisrule.

"Mubarak is another reasonto cover shorts," said AfshinNabavi, head of trading atMKS Finance in Geneva.

The gold price has fluctuated

between $1,340 and $1,370this week, awaiting freshdirection, while Asian con-sumer buying has been lightfollowing the Lunar New Yearholidays.

While there are currentlyfew incentives to buy gold,given improving appetite forhigher risk assets and risingbond yields, few investorsseem prepared to sell heavily.

The world's largest goldexchange-traded fund, NewYork's SPDR Gold Trust,

reported a small outflow onWednesday, signalling thatinvestment is still lacklustre.

In India, the world's largestconsumer of physical gold,demand remained soft as buy-ers awaited fresh price falls.Dealers said suppliers hikedpremiums charged on Londonprices to $2.20-$2.50 as avail-ability was limited by supplyissues after heavy snowfalls inrefining areas.

Silver was bid at $30.22 anounce against $30.17, up 0.2per cent on the day. Platinumwas at $1,839.25 an ounceagainst $1,853.49, while palla-dium was at $822.22 against$826.47. -Reuters

Gold recovers, Egyptbalances rising dollar

Shanghai copper higherThe most active futures in

Shanghai also rose half a per

cent to 75,880 yuan, while

Shanghai zinc rose almost 1

per cent to 19,425 yuan.

NEW YORK: US cotton futuresended Wednesday at a 150-yearhigh on investment fund andspeculative buying in heavy vol-ume with momentum expectedto push prices higher in the daysahead, analysts said.

The runaway cotton market isthe best performing commodityin the Reuters-Jefferies com-modity index, having risen near-ly 25 per cent year to date.

Last year, cotton was also thetop performer in the commodityindex as it rallied 90 per cent.The key March cotton contracton ICE Futures US increased5.29 cents or by 3.0 per cent to

conclude at $1.8058 per lb, arecord settlement close for themarket.

The contract traded from$1.7367 to $1.8229, a freshrecord intra-day mark.

Total volume hit some 44,100lots, more than double the 30-day norm, Thomson Reuters pre-liminary data showed. 'I think itis spec-related buying,' saidSharon Johnson, senior cottonanalyst with brokerage PensonFutures in Atlanta, Georgia.

She said cotton may have seensome high-frequency dealingsfrom algorithmic traders whorapidly go in and out of the mar-

ket, making money on fractionaldifferences in contracts such ascotton. Lou Barbera, cotton ana-lyst at brokers VIPCommodities, said part of thepush in the market also camefrom panic mill buying.

He said the momentum of therally in cotton could eventuallysee the July cotton contract hitthe psychological $2 per lb levelin the months ahead.

Analysts said the market bare-ly reacted to the US AgricultureDepartment's monthlysupply/demand report sincethere were no major changes inthe data. -Reuters

US cotton at 150yr top,$2 cotton in sight

Tokyo rubber

hits new high

on firm oilBANGKOK: Tokyo rubberfutures jumped to a new recordon Thursday, on the back ofspeculative buying due to con-cerns of tight supply and firmeroil prices.

The benchmark rubber contracton the Tokyo CommodityExchange for July delivery rose9.9 yen to settle at 513.9 yen($6.25) per kg. It rose as high as515.0 yen per kg, its highest ever.

US crude oil futures inchedhigher on Thursday amid ongo-ing concerns about unrest inEgypt, while a weaker dollarhelped Brent rise above $102 abarrel. Dealers said TOCOMprices were expected to risefurther on Friday on the back ofstrong demand and thin sup-plies as dry weather cuts supplyin producing countries.

TOCOM rubber was expect-ed to rise further to test newresistance of 520 yen per kg,with the 500 level being seen asa strong psychological supportlevel, they said. -Reuters

IEA raises oil demand growth forecast, supply outlook

10Friday, February 11, 2011

People prepare to write on a giantcricket bat display in Dhaka

Junaid wantsSachinwicket

during WCKARACHI: After earning asurprise call to the World Cupsquad, rookie Pakistan pacerJunaid Khan cannot stop think-ing about bowling to Indianbatting legend SachinTendulkar and getting him out.

The 21-year old left-armpacer was drafted into thesquad after fitness issues ruledtalented Sohail Tanvir out ofthe tournament. "Just getting achance to play in the WorldCup is a dream come true forme. But if we get to playagainst India in the World Cupit would be a blast to bowl atTendulkar and get him out. It isan ambition for me," Junaidsaid.

Junaid, who has representedthe national team at the under-19 and A levels, said he hasalways admired Tendulkar forhis batting exploits.

"For any young bowler Ithink Tendulkar's wicket is abig prize," he told private TVchannel. The youngster said hehad recently toured Sri Lankawith the Pakistan A team andwas familiar with the condi-tions which will help him ifgets to play some matchesthere.

"I am very fit having playedlot of domestic cricket this sea-son and the confidence is highso getting a chance to play inthe World Cup is a big bonusfor me," he said. Junaid, whohas taken 167 wickets in 35first class games forAbbotabad, said he was thank-ful to the cricket board andnational selectors for posingconfidence in him.

"God has been kind to meand I know this is a big oppor-tunity. I don't know if I will geta chance to play but I will domy best to impress the teammanagement that I should begiven a chance and I will notlet them down."

The southpaw is one of thefinest fast bowling prospects inPakistan and has impressedeveryone with his pace andfire. He joins left arm pacers,Shoaib Akhtar, Umar Gul andWahab Riaz in the Pakistanbowling line up for the WorldCup.-Agencies

SYDNEY: Brett Lee has saidthat he is looking forward tobeing the spearhead of theAustralia attack in what will behis second, and most probablyfinal, World Cup.

Lee is the most experiencedbowler in the Australia squad,and has taken 24 wickets in 21games at an average of 31.54 inIndia, Sri Lanka andBangladesh, the co-hosts of thetournament.

"We all have our roles to playand my role is an attackingone," Lee told ESPNcricinfo. Iwant to be the enforcer of thegroup and be the leader of theattack. I will look to offer asmuch knowledge to the bowl-

ing group as possible." The Australia attack is com-

posed mostly of bowlers whoare prone to leak a few runs intheir search for wickets, suchas Mitchell Johnson, ShaunTait and Jason Krejza. But Leesaid that an attacking approachwas essential on the subconti-nent despite the wickets therenot being conducive tobowlers.

"It's a terrifically well bal-anced squad and with Krejzaback in the squad it adds a lotof variation and gives us all theoptions. I am really confidentwith the bowling group.Patience and variation are cru-cial, but you still have got to

attack even though the pitchesare slow and low. There is theopportunity to reverse the ballwhich does not always happenhere in Australia. In India, thepitches seem to scuff the ballquicker and allow the quicks toreverse the ball."

Lee used these attributes togood effect during the inaugu-ral Champions LeagueTwenty20 held in India in2009, helping New SouthWales to the title with eightwickets at an impressive econ-omy rate of 3.76. "It workedwell for me in the ChampionsLeague, and it's something Iam keen to get right in ODIs inthe sub-continent." -Reuters

Lee warms up tohead Aussie attack

NEW DEHLI: When MS Dhoni opened thebowling with a spinner in his first Test as captainin 2008, the message was clear — he would notbe a prisoner to convention.

Following hunches produced the desiredresults as Harbhajan Singh responded with foursecond-innings wickets to help India level athree-match series against South Africa on anunderprepared, spinner-friendly Kanpur track.

“I prefer to go by instinct,” said Dhoni afterleading his team to a tense one-run victory overSouth Africa in the second One-DayInternational (ODI) in Johannesburg last month.

Dhoni was the first wicket-keeper to lead Indiain Tests, but had already proved his credentials

as captain when his young side triumphed in theinaugural World Twenty20 in South Africa in2007. His stock rose instantly as he was namedODI captain the same year, but at a time whenIndia were trying to revive their fortunes in the50-over game after the disastrous 2007 WorldCup campaign in the Caribbean.

India bowed out in the first round after losingtheir opening match against Bangladesh inTrinidad, with former Australian batsman GregChappell as coach and Rahul Dravid as captain.The national selectors plumped for Dhoni afterrecord-breaking batsman Sachin Tendulkarrefused to lead and, in turn, recommended theyoungster for the job.-Reuters

Indian hopes pinned on Dhoni

SYDNEY: Australian captain Ricky Pontingsaid the emphatic ODI series win againstEngland has given them hope as the defendingchampions left for India on Thursday morning,eyeing to win their fourth successive and fifthWorld Cup title.

Ponting has been sidelined since the BoxingDay Test against England due to a broken finger,but he said he was feeling good after his timeaway from the game and was pleased with theteam's 6-1 win over England in his absence.

Ponting said he is feeling fresh after the breakand raring to lead the side, which is goingthrough its most difficult time.

"I am feeling fresh after a month on the side-lines. I am obviously looking forward to gettingback into proper training and more importantlyback into international cricket," Ponting toldreporters before flying out of Sydney.

"It's been a while between games for me and

sitting back watching the guys play has beenpretty difficult, but to see them play as well asthey have has been very satisfying."

The Australians have not lost a World Cupmatch since 1999. Ponting led the team to WorldCup victories in the previous two editions.Australia are still the top ODI side though theyare no longer counted among the favourites aftertheir recent decline.

Ponting, however, said the team is in goodshape after their win against England. "I amvery proud of what they did and we are in goodshape at the moment. "The last few results werereally satisfying against a pretty good Englishteam," Ponting said.

"The most satisfying thing for me was thatwhen we were down and out and looked likegetting beaten we found a way to win games,which I think has been a trademark of goodAustralian teams for a long time now." -Reuters

England series win augurs well

KARACHI: He has been dropped fromPakistan's World Cup squad due to injury butpacer Sohail Tanvir insists he is fit to play andshould have been retained in the side for thequadrennial event starting February 19 in thesub-continent.

The Pakistan cricket Board on Wednesdaydropped the unorthodox bowler from the 15-member squad on the recommendations of thenational team management, a medical panel andthe selection committee and replaced him with

rookie left arm pacer Junaid Khan. Tanvir, whohas so far claimed 48 wickets in 36 ODIs, said,"I don't know why they dropped me and theselectors should tell me the reason because I wasfit and getting better in bowling and fielding.

"It is hugely disappointing to be dropped froma major event like the World Cup at the lastmoment," Tanvir told The Express.

Tanvir was dropped after playing in five ofthe six one-day internationals in New Zealand.Justifying its decision to omit Tanvir, the PCB

said the medical panel had examined the 26-year-old bowler and decided he was not 100percent fit to play at the top level. "He stillrequires time to make a complete recovery fromhis knee problem for which he had an operationsometime back," PCB said in a statement.

Chief selector, Mohsin Khan said that it wason the recommendations of the team manage-ment that the pacer was dropped from thesquad. "The team management spoke to theboard Chairman expressing its concerns over

Tanvir's fitness. Subsequently the medical panelexamined him and declared he was not fully fit.

"The team management felt that Tanvir wasstruggling while fielding because of his kneeproblem.

"Junaid Khan was called up because of hisfine performances in domestic cricket," Mohsinrevealed. Meanwhile former test batsman,Basit Ali cautioned that Junaid was too raw andnot ready for the international cricket. -Agencies

Sohial set to spellbind spectators

LAHORE: Three first halfgoals saw Pakistan U21 put uppositive display as theyrestricted Thailand U21 teamto only 2-1 win.

Both the teams will opentheir campaign in 2012London Olympics Qualifierson 23 February 2011 with play-ers shall be born on or after 1January 1989. Pakistan willface Malaysia and Thailandwill take on Palestine.

Other matches on the open-ing day of Olympics AsianQualifying will be UAE vs SriLanka, Jordan vs ChineseTaipei ,Yemen vs Singapore,

Kuwait vs Bangladesh, Indiavs Myanmar ,Oman vsTajikistan ,Indonesia vsTurkmenistan ,Iran vsKyrgyzstan , Hong Kong vsMaldives. The return leg of alleleven matches will be playedon 9 March 2011 with sameage restriction.

Asian Cup 2004 venueRajamangala NationalStadium. also known as HuaMark Indoor Stadium, hostedthe Thailand-Pakistan U21enounter last night and thesame arena wll be used forThailand-Palestine Olympic tienext week.-Online

Pakistan restrictThailand to 2-1

Staff Reporter

KARACHI: Pakistan captainShahid Afridi on Thursday saida possible duel with India inthe World Cup final would beideal for the tournament and aboost to international cricket,drawing billions of viewers.

Afridi said a possible duelwith India in the World Cupfinal would be ideal for thetournament and a boost tointernational cricket, drawingbillions of viewers.

"There is a possibility thatPakistan and India play thefinal of the World Cup and ifthat happens it would be idealfor the World Cup, one-dayformat and for the game ofcricket," Afridi said.

Arch-rivals Pakistan andIndia are in separate groups ofthe 14-team World Cup, jointlyhosted by India, Sri Lanka andBangladesh and starts onFebruary 19.

The top four teams from eachof the two groups meet in thequarterfinal and Afridi hopesboth India and Pakistan avoideach other until the April 2final.

"Both India and Pakistanhave to play above their poten-tial to reach the final but itwould be ideal for the billionsof people around the world,"said Afridi, who will be play-ing his fourth World Cup.

Pakistan have not beatenIndia in the four matches theyhave played at World Cups.

India beat Pakistan by 39runs in a highly charged quar-terfinal at Bangalore in the1996 World Cup.

The two have not playedeach other outside tournamentssince the 2008 terror attacks onMumbai, which claimed 166lives and caused a diplomaticrift between New Delhi andIslamabad.

However the pair met in theChampions Trophy held inSouth Africa in 2009, where

Pakistan beat India - the lastinternational match betweenthem.

Afridi said beating their arch-rivals in the Mumbai finalwould be the "icing on thecake."

He added that former crick-eters should first do theirhomework and review per-formances of players beforegiving their analysis on thenational team’s possibility ofwinning the world cup.

Speaking at a press confer-ence alongside Coach WaqarYounis and Team ManagerIntikhab Alam, Afridi said thatthe morale of the team is highand former captains shouldsupport them. He said thatother than Pakistan, it would bedifficult to term any team as afavorite as India, Sri Lanka,South Africa and Australiahave all been performing verywell.

Coach Waqar Younis saidthat there are no rifts amongplayers or the management andSohail Tanveer was taken outof the squad due to his lack offitness. He added that he hasnot witnessed Junaid Khan’sperformance himself as much,but he has heard a lot abouthim from other people.

Afridi said beating their arch-rivals in the Mumbai finalwould be the “icing on thecake.”

“We would love to beat Indiain India and in a World Cupmatch because we have neverdone this before and this couldbe a great motivation,” saidAfridi.

Playing down any possiblethreat from Hindu fundamen-talists during the World Cup,Afridi said: “People of both thenations love cricket and I don’tsee any threat.

“But yes, if the atmosphere ishighly charged it would defi-nitely spur both the teams onand bring out the best in theplayers from both the sides.”

Afridi wants Pakistan-IndiaWorld Cup final

'Ex-cricketers should do their home-work before giving statements'

Afridiupbeat on

Pak WC fate

Messi leadsArgentina to2-1 win over

PortugalMonitoring Desk

GENEVA: Lionel Messi scoreda 90th-minute penalty to giveArgentina a 2-1 win overCristiano Ronaldo's Portugal inthe first international meeting ofthe two players on Wednesday.

Two-time world player of theyear Messi also was the domi-nating early influence and setup Angel di Maria to giveArgentina a 14th-minute lead.

Ronaldo levelled in the 21st toget his first career goal in amatch against Messi. ThePortugal captain, who precededMessi as the world's best playerin 2008, also went close twicewith second-half shots.

Portugal striker HugoAlmeida was guilty of a glaringmiss from two yards (meters) inthe 56th.

Argentina substitute JavierPastore struck the crossbar withan 86th-minute header.

The neutral Stade de Genevefelt like a home game forPortugal thanks to its largeexpatriate community in theFrench-speaking part ofSwitzerland.

Messi was therefore subjectedto whistles and jeers when heshimmied past a Ronaldo chal-lenge in the 2nd minute.

The tiny Argentine had thefirst effort at goal in the 7th,heading wide from eight yards(meters).

Messi then sent Di Mariaclear to give Argentina the lead.The two-time defending worldplayer of the year danced over awild tackle by Raul Meirelesbefore chipping an angled passfor Di Maria. The Real Madridwinger deftly guided his shotover the advancing goalkeeperEduardo.

Argentina goalkeeper SergioRomero dealt uncertainly with across in the 19th minute, andwas beaten in Portugal's nextattack.

Ronaldo moved decisively onto Hugo Almeida's flicked head-er, making Romero seem hesi-tant as he slid in to strike a pow-erful rising shot into the netfrom six yards.

Shahzad,Shahid meetin snookerfinal today

KARACHI: Pakistan topcueist Imran Shahzad defeatedMohammad Sajjad 6-2 in thesemi-final of the 36th NationalSnooker Championship 2011being held at the KarachiGymkhana while MohammadShahid outplayed SultanMohammad 6-3 to book aplace in today’s final againstShahzad.

In the first match of the day,Shahzad took an early lead,winning the first two frames78-6 and 85-46. However,Sajjad retaliated in the third,winning it 80-0 with a break of70 following which Shahzadtook the fourth frame 72-48.Although Sajjad hit back inthe next frame with 88-16,Shahzad managed to consoli-date his lead in the sixth frame62-17 and sealed the win with75-21, 63-24 wins in the sev-enth and eighth frames.

“It was a great match andproved why Shahzad is the topplayer in the country,” formerPakistan number one and cur-rent Asian number two cueistSajjad told The ExpressTribune. “For me the fourthframe was crucial as I startedout with a 47-0 lead but thenShahzad struck the break of 65and I couldn’t recover.”

LAHORE: National cricket team Coach Waqar Younis, Captain Shahid Afridi and Manager Intikhab Alamhold a joint press conference at Gaddafi Stadium. -Online

11Friday, February 11, 2011

International & Continuation

CONTINUATION

LONDON: OPEC reported ithas boosted its oil output to atwo-year high, encouraged byrising global demand andprices above $100 a barrel,while the industrialisedworld's energy adviser saidthe increase may limit pricegains.

In a monthly report onThursday, the Organization ofthe Petroleum ExportingCountries said its Januaryproduction rose by 400,000barrels per day (bpd) to 29.72million bpd, the highest sinceDecember 2008 when thegroup announced a recordproduction cut.

The rally in oil prices hascaused concern in consumingcountries about the impact ofrising energy costs on infla-tion and economic growth.OPEC, led by Saudi Arabia,is the only immediate sourceof extra oil should the world'sfuel needs surpass expecta-tions, as they did in 2010.

The International EnergyAgency (IEA), an adviser to28 industrialised countries,said in its monthly report theextra OPEC supplies shouldhelp to limit a further spike inoil prices even though globaldemand is expected to hit arecord this year.

"We are seeing a little moreoil from OPEC as they're see-ing the same indicators on thedemand side, especially inAsia, that we are. A flexibleattitude from OPEC is a goodthing," David Fyfe, head ofthe IEA's oil industry andmarkets division, said in aninterview.

"The fact that prices havegone up from around $75 inSeptember to $95 a barrel andabove is because of a sharptightening in the physicalmarket," he said.

"It's not the only thing driv-ing prices but some of theimpetus comes from that mar-ket tightening. We saw verystrong 2010 oil demandgrowth and we're feeding thatthrough into 2011, he said.

Both the IEA and OPECsaid the world would usemore oil this year than previ-ously expected. The IEA saidglobal consumption wouldexceed 90 million bpd in late2011 for the first time.

Oil prices traded lower onThursday, with Brent crudefalling almost $1 to around$101.

MORE FROM IRAQThe higher production fig-

ure from OPEC is a de-factoacknowledgement of a rise inOPEC supplies reported bythe IEA a month ago that wasinitially challenged by theproducer group.

The IEA was founded in1973-1974 as a counter-weight to OPEC after theArab oil embargo, which sentprices soaring. The two haveclashed this year over thecauses of the oil price rallyand the need for OPEC topump more oil.

Last month, the IEA saidSaudi Arabia had stealthilyboosted output to cool themarket, but OPEC's SecretaryGeneral Abdullah al-Badrisaid Saudi Arabia had toldOPEC it had not opened its

taps.On Thursday, OPEC said

the biggest contribution to theincrease in supply last monthcame from Iraq, where for-eign oil companies are work-ing to expand output. It alsosaid Saudi Arabia and theUnited Arab Emirates raisedproduction.

The IEA said Saudi Arabia'soil output was flat in Januaryat 8.6 million bpd, after risinglast year, with Angola, Libya,the UAE and Venezuelaslightly raising productionand Iran and Nigeria cuttingoutput.

OPEC has not changed itsofficial production targetsince the December 2008 cutin the aftermath of the finan-cial crisis. It is not scheduledto meet to review output poli-cy until June.

The latest set of productionfigures show, however, thatOPEC members are continu-ing a trend begun in mid-2009 to informally raise out-put in response to higherdemand and prices.

OPEC's production figuresare based on secondarysources and are the closestthing OPEC provides to anofficial estimate of supplies.Many OPEC countries do notdisclose their production on atimely basis.

The secondary sourcesinclude consultants and newsorganisations, who use meth-ods such as tracking exportsand estimating domestic con-sumption to work out howmuch oil OPEC is pumping.-Reuters

OPEC pumps morecrude as demand

to hit record

WASHINGTON: New USclaims for jobless benefitsdropped to a 2-1/2-year low lastweek, pointing to a firmingundertone in the labor market asthe economic recovery gathersmomentum.

Although the decline reportedby the Labor Department onThursday partially reflected theunwinding of a weather-relatedspike in late January, analystssaid it was consistent with otherindicators suggesting a strength-ening labor market.

Initial claims for state unem-ployment benefits fell 36,000 toa seasonally adjusted 383,000,the lowest since early July 2008,the Labor Department said.

Economists had forecastclaims slipping to 410,000.

"Anecdotally, we do hear that

there is some improvement onthe jobs front and this is anotherindication of that," said TimGhriskey, chief investment offi-cer at Solaris AssetManagement in Bedford Hills,New York.

The data came on the heels ofFriday's report showing theeconomy created a paltry36,000 jobs in January, largelyblamed on severe snow stormsthat slammed large parts of thecountry.

Investors saw the claimsreport as yet more evidence thatthe economic growth pace wasaccelerating. Prices for safe-haven US government bondsfell, while the dollar rose broad-ly. Stocks on Wall Street fellamid disappointing corporateearnings.

A separate report from theCommerce Department showedwholesale inventories rose 1 percent to $430.5 billion, the high-est since January 2009. The gainwas greater than the 0.7 per centincrease forecast by economists.

Last week's fall in initialclaims took them below the400,000 mark and economistssay sustained declines wouldsignal strong job growth. ALabor Department official saidclaims were still unwindingsome of the weather effects thatpushed up applications lastmonth.

The four-week moving aver-age of unemployment claims --abetter measure of underlyingtrends - dropped 16,000 to415,500 last week.-Reuters

US jobless claims at 2-1/2-yrlow, inventories up

BoE holdsfire on ratesbut rise seen

by MayLONDON: The Bank ofEngland defied critics and keptinterest rates at a record low onThursday, judging the threatfrom rising inflation will provetemporary and that Britain'srecovery remains in doubt.

Inflation has jumped toalmost twice the BoE's targetand is still rising, but the econ-omy faces headwinds fromhefty public spending cuts andsuffered a surprise contractedat the end of last year.

Strategists had been unani-mous in predicting rates wouldstay at 0.5 per cent -- wherethey have stood since March2009 -- and there was littlemarket reaction.

However, the debate on theBoE's monetary policy com-mittee will have been heatedand investors remain con-vinced that rates will risebefore long. Money marketsshow a quarter-point rate rise isfully priced in by May, with atleast one additional hike by theend of the year.

By May, BoE policymakerswill have more informationabout how the economy weath-ered the government's fiscaltightening and whether a 0.5per cent contraction in thefourth quarter was largelyrelated to unusually snowyweather.

James Knightley at ING saidThursday's policy deliberationswould have been hard-fought.

"Despite our worries aboutthe economy there is clearlygrowing pressure on the BoE todo something to combat near-term inflation fears," he said.

The BoE's decision to holdfire will come as a relief to thegovernment, which is hopingloose monetary policy willcushion the blow from its fiscaltightening.-Reuters

"The fact is that we did notify Pakistan of this diplomat's arrival andhis status. And we do not believe that there's any ambiguity aboutthat," Crowley said. "The reports that we have suspended all contactswith the Pakistani government are not true. We continue to have high-level contacts with both in Pakistan and here to be able to express tothem the importance that we attach to resolving this issue and thiscase." Crowley said. "And we'll use every opportunity in our engage-ment with the Pakistani government to reiterate that position," hesaid. -Agencies

Continued from page 12No #1

an increase of 1.5 mbd.It estimated global oil demand rose by 2.8mbd to 87.8 mbd in 2010. The IEA warned that higher fuel prices,which have topped $100 a barrel recently for the first time sinceSeptember 2008 on concerns over political instability in the MiddleEast, especially Egypt, could dent the economy.But OPEC playeddown much fears in its report. Even before the crisis, those routeswere not being utilized at full capacity, mainly due to the ampletanker availability on other routes, the oil cartel argued. -APP

Continued from page 12No #2

The three-day strike by several unions in the PIA has crippledthe functioning of the airline with several dozen international anddomestic flights being cancelled or rescheduled. Passengers arethe worst sufferers, though the top government leadership hasfailed to take any issue-resolving initiative.-Online

Continued from page 12No #3

Iran and North Korea, seen as major proliferation risks by theWest, are believed to have benefited from a nuclear smuggling-ring run by Pakistani scientist Abdul Qadeer Khan. ISIS publishedimages which it said showed a building relatively early in its con-struction at Khushab, about 170 km (110 miles) southwest ofIslamabad. It added that "the footprint for the building is similar-ly sized to that of the second and third Khushab reactors."

In imagery from late 2009, vapor could be seen rising from thesecond reactor's cooling tower fan blades, indicating it was at leastat some stage of initial operation, ISIS said. "Vapor can again beseen rising from some of the second reactor's cooling towers inthe January 15, 2011 imagery, though none can be seen yet overthe third reactor's cooling towers."In 1998, Pakistan commis-sioned the first Khushab research reactor, which is capable ofyielding 10-15 kg (22 to 33 lb) of weapons-grade plutonium annu-ally. Pakistan, which embarked on a nuclear weapon program inthe early 1970s, conducted nuclear tests in May 1998, shortlyafter India conducted its own weapon tests. Like India, Pakistan isnot a signatory to the nuclear Non-Proliferation Treaty. -Reuters

Continued from page 12No #4

He said that orientation of census district officers has beenarranged at provincial and divisional level all over the countryadding that training of enumerators and supervisory, monitoringstaff will be arranged at tehsil level in February and March.Secretary Statistic Division Asif Bajwa briefed about planningprocess, scope, methodology of census. -APP

Continued from page 12No #5

Justice Raja Fayyaz Ahmed and Justice Asif Saeed Khosa,seized with pleas of Leader of Opposition in the NationalAssembly Chaudhry Nisar Ali Khan and Shahid Orakzai. He saidthe notification was issued on February 9 and the appointmentwas under Section 6 of the NAO and not like the previous one. Tobench's query, he said the decision was already taken to terminatethe earlier notification. He told the bench not to become so hyper-technical as something substantial had happened.

Justice Javed Iqbal raised the question about 'consultation'process to which the counsel replied that words in law were 'inconsultation' whereas for judicial appointment the word was 'afterconsultation with the Chief Justice'.

Justice Asif Saeed Khan Khosa questioned whether the freshnotification meant that earlier appointment of chairman wasregarded illegal. Pirzada replied that it was a continuity of thesame process and said "what has been done cannot be undone."

Continued from page 12No #6

He said the consequences of the issue should not 'stigmatize'Deedar Hussain Shah. He told Justice Khosa that he could notrefer to other issues and if the bench wanted he would argue thecase fully. After a volley of questions, the counsel said that theissuance of notification was not the job of President as it was anadministrative act as the decision had been taken to terminate theearlier one to make the appointment. Shahid Orakzai, a petitioner,appeared and questioned how Deedar's three-month previousservice would be adjusted?

The bench adjourned hearing till February 28 after observing inits order that it would go through the notification and then woulddecide about other related issues which required determination.

Chaudhry Nisar Ali Khan in his plea had challenged theappointment of Justice (Retd) Deedar by stating that parameters ofSection 6 of the National Accountability Ordinance (NAO) wasnot adhered to because it was made despite his opposition on thegrounds that the chairman had long political affiliations with theruling party and twice served as member Sindh Assembly. -APP

in two phases. He said that the Population and Housing data, asyou know, plays a vital role in public administration and policyformulation. The results of the population census are used as acritical reference to ensure equity in distribution of nationalresources, government services and political representation.

He further said that there is a great need to manifest the neces-sity of accurate census information amongst the people living inthe smallest villages to the largest cities. Doing so is central toworking out holistic plans for economic development. In this waypeople can be apprised of characteristics and utility of the census.Such a campaign is essential for rural areas so that they are allo-cated their due share in the distribution of national resources.

He said that I hope the methodology being used in the next cen-sus has been improved in the light of experiences gained by vari-ous countries and the same have duly been incorporated. He saidthat he would urge the Population Census Organization to providedetailed and credible data on women to help government formu-late pro-women policies. The women living in rural areas mayfind it difficult to answer certain questions related to fertility, mor-tality, education & economic activity. This aspect should be takencare of during planning the field enumeration activities. I would,therefore, recommend to the Organization to depute women asfield staff to collect women-related data in all aspects.

He said that the revolution in the field of information technolo-gy has changed the world landscape in numerous ways. The cen-sus methodology must be evolved in the light of new technologiesto collect data on scientific lines. He said that I hope that thestakeholders would deliberate upon the subject with utmost seri-ousness and dedication and come up with effective strategies toimprove the census plan. I assure you that the government wouldconsider the recommendations of the workshop and make it partof the policy. PM Gilani thanked the participants with the hopethat the census workshop will help the Population CensusOrganization to strengthen its census plan.

Continued from page 1No #7

had made false statement then as to why action had not beentaken against him. FIA has started making efforts to arrest HamidSaeed Kazmi and is conducing raids at various places after obtain-ing his arrest warrants from Islamabad magistrate. -Agencies

Continued from page 1No #8

to $3.55 billion from $3.53 billion, said the SBP.Analysts said the foreign exchange reserves rose to a record

last week due to a rise in remittances from overseas Pakistanis.According to official data, remittances rose 17 per cent to $5.3

billion in the first six months of the fiscal year 2010/11.Foreign exchange reserves were boosted last month by more

than $633 million after the United States provided military andlogistical support to fight Islamist militancy.

Continued from page 1No #9

sales showed a growth of 11.7 per cent YoY to 72.6k units, andLCV & Pickup segment sales registered an increase of 10.1 per cent

Continued from page 1No #10

accuracy and radar avoidance features. It also incorporates the modern cruise missile technol-ogy of Terrain Contour Matching (TERCOM) and Digital Scene Matching & Area Co-relation(DSMAC). The test was witnessed by Chairman Joint Chiefs of Staff Committee, General KhalidShamim Wynne, Director General Strategic Plans Division, Lieutenant General (Retired) KhalidAhmed Kidwai, Commander Army Strategic Force Command Lieutenant General Jamil Haider,Chairman NESCOM Muhammad Irfan Burney, senior officers from the armed forces and strate-gic organisations, scientists and engineers. Chairman Joint Chiefs of Staff Committee reiteratedthat the test will go a long-way in consolidating Pakistan's strategic deterrence capability, andfurther strengthening national security. Pakistan's resolve and commitment to continue its strate-gic programme will remain paramount, he added. The successful test has also been warmlyappreciated by the President and Prime Minister of Pakistan, who have congratulated the scien-tists and engineers on their outstanding success. -Online

Continued from page 1No #11

is that we both agreed ... there is support for the process (on both sides)," the official said, addingthe new talks would not be called "composite dialogue". Indian Prime Minister Manmohan Singhhas made efforts to entice Pakistan to peace talks, concerned about the legacy of his second termgovernment. But such moves have little impact on voters at home who are more concerned aboutinflation and corruption, and India these days looks more towards competing with China on econom-ic and security issues than its traditional rival Pakistan. On the other hand, Prime Minister Gilaniexpressed satisfaction over the progress made by Pakistan and India to resume full spectrum of dia-logue. Prime Minister also appreciated the vision of Prime Minister Dr Manmohan Singh for open-ing of a new chapter in relations between the two countries, which he added, Pakistan fully recipro-cates. Gilani made the remarks after the presentation of a report by Foreign Secretary Salman Bashirregarding talks with his Indian counterpart on the sidelines of the 33rd Session of SAARC Councilof Ministers meeting at Thimpu, Bhutan. -Agencies

Continued from page 1No #12

Chairman Securities and Exchange Commission of Pakistan, Muhammad Ali, and SecretaryMinistry of Privatization, Muhammad Ejaz Chaudhry.-NNI

Continued from page 1No #13

YoY to 10.2k units in 7MFY11. Pak Suzuki, Indus Motors and Honda Cars were the three companiesthat showed positive growth in their volumetric sales by 14 per cent, 9 per cent and 21 per cent, respec-tively. On the other hand, Dewan Farooq Motors witnessed 86 per cent decline in their sales volume.

income registered a growth of 11 per cent and was reported at Rs6.2 billion. The provision chargesof the bank decreased significantly by Rs3.7 billion YoY, mainly owing to a Rs2.7 billion decreasein provisions against loans and advances. Total assets were reported at Rs568 billion, increasing by11 per cent from 2009. Gross advances increased by Rs4.4 billion while investments registered a sig-nificant increase of Rs46 billion with a major increase in T-bill exposure of 32 per cent YoY.

On the liability side, deposit base of the bank increased significantly by 17 per cent and werereported at Rs431 billion while borrowings decreased by 42 per cent YoY.

Continued from page 5No #14

The benchmark has lost nearly 15 per cent this year as foreign funds withdrew $1.4 billion on con-cerns high inflation and rising interest rates will squeeze consumer spending in Asia's third largesteconomy. "It is going to stay weak for a while. Unless there is some stability on the political and pol-icy front, we are not going to see a recovery," said Prasanth Prabhakaran, president of retail brokingat IIFL. Food inflation eased in end January on moderating prices of fruits and vegetables but annu-al headline inflation in January is still expected to remain high. Investors are also bracing for slug-gish economic data. Industrial output growth probably slumped to 2.0 per cent in December from ayear earlier, mainly due to a high base a year ago, a Reuters poll showed. The data is due on Friday.However, analysts at Citigroup said the market correction offered an opportunity to buy stocks. "Weprobably appear a little brave maintaining our 22,000 December 2011 Sensex target, but believe therewards outweigh the risks decisively from here," they wrote in a note on Wednesday.-Reuters

Continued from page 5No #15

industry in the country and added that through listing the credibility of the company gets enhancedand the company acquires wider exposure of its brand and operations. The representatives of PPMAalso briefed about the pharmaceutical industry of Pakistan its potential and the role being played bythe companies in the industry and also highlighted the problems being faced by it. They appreciat-ed the initiative of the Exchange in providing a forum to discuss the issues of mutual concern andencourage their member companies to list on the Exchange.It was agreed to take joint initiatives tocreate awareness and encourage the member companies to avail the benefits through listing.

Continued from page 5No #16

lull. But the 1.7 per cent rise in December core orders was smaller than a median forecast for a 5.0per cent increase, suggesting companies will increase spending only slowly with any economicrecovery seen moderate. "Domestic investors such as life insurers could be selling on concerns aboutoverheating after the index traded above 10,700 (on Wednesday)," said Kenichi Hirano, a strategistat Tachibana Securities. "While the index is above 10,600, further profit-taking is possible, but fallsmay not be significant." The Nikkei has gained about 15 per cent on foreign buying since November,benefiting in the last few weeks from a shift in focus to developed markets from emergingeconomies, which are seen as being at greater risk from inflation.

Investors were seen taking profits after more than a week of gains on Wall Street, after commentsby Federal Reserve Chairman Ben Bernanke reinforced the message that the world's largest economyis still weak and the Fed will keep supporting it through low rates and bond purchases. Analysts saidthat investors are cautiously awaiting the outcome of Chinese economic indicators early next week,including the country's consumer price index. "While Japanese stocks lack trading cues in their ownmarket, the market's direction may be set by news from China," said Yumi Nishimura, a senior mar-ket analyst at Daiwa Securities Capital markets. The benchmark Nikkei ended the day down 0.1 percent, or 12.18 points, at 10,605.65. The broader Topix added 0.3 per cent to 946.63.-Reuters

Continued from page 5No #17

0.27 per cent, at 1,317.29. The Nasdaq Composite Index dipped 8.75 points, or 0.31 per cent, at2,780.32. Weighing on equities were higher yields for indebted European countries, which reflectedconcern over the lack of a concrete policy to tackle the euro zone's debt crisis. The US dollar gainedversus the euro and pulled commodity prices lower. Disappointing earnings overseas also hurt sen-timent as Credit Suisse missed profit expectations. The bank's US-traded shares dropped 7.3 per centto $43.23. Soft drink and snacks maker PepsiCo Inc cut its full-year earnings growth target, sendingits shares down 1.8 per cent to $63.29. In the latest from Egypt, Prime Minister Ahmed Shafiq toldBritain's BBC that President Hosni Mubarak may step down and the situation in the country will beclarified soon, the British broadcaster said on Thursday.The chart for the S&P 500 index shows near-term technical support at the 1,313 level, getting stronger near 1,300.-Reuters

Continued from page 5No #18

around now, but there are always going to be a couple of disappointments, but overall earningshave gone reasonably well, and there's no reason for the market to be depressed for a long period oftime," said Peter Dixon, economist at Commerzbank. There was little reaction to the expected deci-sion by the Bank of England to leave interest rates unchanged following its latest monetary policycommittee meeting. Banks were the worst blue-chip performers, with HSBC down 1.1 per cent, hitby a profits disappointment from Swiss peer Credit Suisse.Renewed sovereign debt concerns alsoweighed on the lenders as Portugal's government bond spreads widened. Insurers retreated, too, withPrudential down 1.9 per cent, reversing gains made on Wednesday after a broker upgrade.

Miners extended Wednesday's declines, reflecting weaker metals prices after China raised interestrates earlier in the week.Rio Tinto shed 2.4 per cent despite announcing a doubling in its dividendpayout and promising to return $5 billion to shareholders by 2012. Energy stocks recovered fromlows as media reported that Egypt's embattled president of 30 years might step down, helping topush crude higher. BP edged up 0.1 per cent.-Reuters

Continued from page 5No #19

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contractualjobs soon

ISLAMABAD: EstablishmentDivision in light of SupremeCourt of Pakistan's directives hasforwarded the summary seekingtermination of 15 officialsincluding DG FIA and IG Sindh,to Prime Minister Syed YousufRaza Gilani here on Thursday.

According to SecretaryEstablishment Division, RaufChaudhry EstablishmentDivision has sent the summaryof sacking of 15 officials includ-ing DG FIA Waseem Ahmadand IG Sindh Salahuddin BabarKhattak to Prime Minister SyedYousuf Raza Gilani.

It has been said in the summa-ry that the officials are workingon contract basis and their con-tract should be terminated.

According to sources,Secretary EstablishmentDivision Rauf Chaudhry hassent the report of termination ofthe following officials, toSupreme Court of Pakistan.

It is noticeable to mentionhere that the Supreme Courthas taken notice of the officialsworking in government depart-ments on contract-basis, onwhich eight high officials ofPunjab government resignedfrom their posts. -Online

Opecpumps updemandforecast

VIENNA: The Opec oil cartelraised Thursday its 2011 globaloil demand growth estimate inview of cold winter weatherand a "sturdy" economic out-look, particularly for the UnitedStates and China.

The Organization ofPetroleum Exporting Countriessaid it was pencilling in worldoil demand growth of 1.4 mil-lion barrels per day (bpd), or1.62 percent, to 87.74 millionbpd for this year, comparedwith 1.23 percent previously.

"Bitter winter has been ham-mering most of the OECD(Organisation for Economic Co-operation and Development)region since last Novemberleading to a noticeable increasein energy usage," OPEC said inits latest monthly bulletin.

"Winter petroleum product con-sumption increased, leading to anadjustment in the total world oildemand forecast not only in 2010,but in 2011 as well."

Furthermore, "sturdier indus-trial activity within the US andChina, ignited by stimulusplans and government incen-tives, boosted demand," it said.

Earlier, the InternationalEnergy Agency -- the energypolicy and monitoring arm ofthe 34-member OECD -- pre-dicted that oil demand wasexpected to grow in 2011despite the pace of the globaleconomic recovery tapering off.

After taking into account thelatest economic forecasts fromthe International Monetary Fund,the IEA said global oil productdemand should reach 89.3 mil-lion barrels per day (mbd)

See # 2 Page 11

ISLAMABAD: Federal Minister forFinance Dr Abdul Hafeez Shaikh saidThursday that latest technology wouldbe used for compilation and process-ing of information which would begathered during 6th national census,added it would commence from Aprilthis year.

Addressing the seminar on 'CensusPakistan 2011', the minister said popula-tion census is an important nationalactivity undertaken once in a decade forbetter socioeconomic planning anddevelopment.

He said that successful implementa-tion of census plan is only possible withclose coordination and active support ofall federal government ministries/departments as well as the provincialgovernments and district authorities.

Dr Hafeez said that members of theCensus Advisory Committee, expertsfrom various fields as well as academiahave been invited to the seminar.

Meetings of the Census Advisory

Committee were held wherein variousissues of census planning including cen-sus methodology, census cartographyand mapping, topics of information tobe collected and questionnaire designwere discussed and agreed, he added.

He said in light of recommendationsof the Advisory Committee and expertgroups, census questionnaires and cen-sus plan were finalised.

The minister said that PopulationCensus Organization have completedpreparations to start House ListingOperation through out the country fromApril 5 this year.

Shaikh said maps have been updatedwith the help of Revenue Departmentsin rural areas and Local Governmentand educational staff in urban areasafter imparting proper training to themfor this job.

The Minister said these maps have beenfurther verified through Google Earth toensure coverage of all settlements.

See # 5 Page 11

6th nosecountbegins in Apr

VIENNA: Pakistan appears to bebuilding a fourth military nuclear reac-tor, signaling its determination to pro-duce more plutonium for atomicweapons, a US-based think-tank said.

The report came as India andPakistan agreed to resume peace talksthat were broken off by New Delhiafter the 2008 Mumbai attacks, a movethat should help ease tensions in thevolatile region.

The nuclear-armed neighbors havebeen under pressure from the UnitedStates to reduce tension because theirrivalry spills over into Afghanistan,complicating peace efforts there.

The Institute for Science andInternational Security (ISIS), a think-tank specialising in nuclear proliferationissues, said it had obtained commercialsatellite images from mid-January.

They showed "what appears to be afourth reactor under construction atPakistan's Khushab nuclear site," ISISexperts David Albright and Paul

Brannan said in the Feb 9 report."Pakistan is determined to produce

considerably more plutonium fornuclear weapons," they wrote.

Pakistan's mission to the Vienna-based International Atomic EnergyAgency (IAEA), the UN nuclearwatchdog, was not immediately avail-able for comment.

Pakistan has made clear its opposi-tion to global talks to ban future pro-duction of nuclear bomb-making mate-rial, arguing that existing stocks of plu-tonium and enriched uranium should beincluded to counter India's advantage.

India is believed to hold about 100warheads and Pakistan 70 to 80,according to the Washington-basedArms Control Association.

Some analysts say Pakistan's nucleararsenal and stockpile of weapons-grade material pose a risk in the regionbecause of internal security threatsfrom the Taliban and al Qaeda.

See # 4 Page 11

Think-tank says Isb building fourth N-reactor

Pak N-programunder US radar

WASHINGTON: Pakistan ambassadorto US Husain Haqqani, admitting thatrelations between Pakistan and US arestrained, has said that embassy neverissued any visas without an approval fromForeign Office, Islamabad.

Addressing a press conference inWashington, the ambassador for the firsttime talking on the Raymond Davis issuesaid that sentiments of the Pakistani peopleon this issue have been conveyed to the USand we have told them that an air of tensionis being felt in our relations with the US.

He said that those elements shouldaccept their responsibility due to whichthis situation has been created.

Husain Haqqani, hinting that Pakistanigovernment would not release RaymondDavis on the pressure of US, said in friend-ship lot of incidents happens; sometimesour concerns are not addressed and some-times we can't accede to demands of US.

When Haqqani was asked could this ten-sion have affect on the bilateral relationsbetween the two countries, he gave anunclear response and said that as situationchanges we will let you know.

In response to a question he said that therehas been no increase in issuance of visas toUS administration officials since 2007.

He said that Pakistani embassy in UShad issued visa to Raymond Davis forthree months only in 2009 and these visasexpired in 2009.

An extension in his visa was made bythe Foreign Office.

When asked what type of visa Davis wasissued, he said that we gave him an officialwork-visa and it is not the responsibility ofthe embassy to determine diplomatic sta-

tus in fact it is the duty of Foreign office.He said that the embassy never issued

any visas to US officials without theapproval of Islamabad.

He said that the matter of Davis is sub-judice in the court and the Foreign officeis handling the matter.

On the flip side, United States has indi-cated that it could indeed cancel a high-level meeting involving Pakistan hereamid a diplomatic row over continueddetention of a US official who shot deadtwo men in Lahore.

"We want to have a productive meeting.If there's a reason why we don't think themeeting will be productive we're preparedto make adjustments," State Departmentspokesman P J Crowley told reporters.

"If we do make those decisions, we'll letyou know," he said while insisting thatreports about US suspending all contactswith Pakistan were "not true."

Crowley was responding to a Wall StreetJournal report from Islamabad that the UShad threatened to cancel the ministerial leveltrilateral US-Afghanistan-Pakistan meetingscheduled for Feb 23-25 in Washington.

"Planning is continuing for the trilateralmeeting at the end of this month. It is cur-rently scheduled to be at the ministeriallevel. If we make any changes in that,we'll let you know," he said.

Crowley also repeated the US demand forthe release of Raymond Davis, a US gov-ernment employee who was arrested onJanuary 27 after shooting two Pakistanis. Athird Pakistani was run over and killed by aUS consulate vehicle that had come toassist Davis, according to police.

See # 1 Page 11

Visas issued after Isb approval: Pak envoy

Isb stampsUS visas, notme: Haqqani

ISLAMABAD: Minister forInterior Rehman Malik said onThursday that the issue of PakistanInternational Airlines (PIA) wasexpected to be resolved within twoto three days.

Talking to media persons after hav-ing a meeting with PIA Joint ActionCommittee, the Minister said that hewould submit the demands of com-mittee to the Prime Minister Gilani.

He said that the disruption of PIAflights due to the workers' strike hascaused a loss of Rs400 million to thenational exchequer.

Rehman Malik said the talks withthe joint action committee would

resume on Friday (today).Meanwhile, the protest of Pakistan

International Airline (PIA) workersand employees across the countryincluding Karachi, Lahore,Islamabad and other major cities con-tinued on Thursday after the failureof talks with PIA action committee.

In this connection several flightshave been cancelled all over thecountry due to the strike and protestof PIA workers and employees, andhundreds passengers continued tosuffer in this regard.

According to media reports, hun-dred of PIA employees protested outside the Benazir International

Airport after being denied entry byRangers, police and PIA staff hereon Thursday and traffic remainedsuspended. The protesters warned tothe authority that they would contin-ue their protest till the approval oftheir demands.

A number of international flightswere suspended as strike and protestsof PIA employees' unions grewintense on the third consecutive dayduring which vociferous demandswere made for withdrawal of pro-posed agreement of the national flagcarrier with Turkish Airline andremoval of Managing Director PIA.

See # 3 Page 11

Staff-strike adds toPIA travelers woes

KARACHI: Activists of PALPA shouting slogans in support of their demands during a demonstration

at Quaid-e-Azam International Airport.-Online

SC issuesnew notice

to NAB headISLAMABAD: The counselfor Federation on Thursdayapprised the Supreme Courtthat a new notification super-seding the earlier one regardingappointment of ChairmanNational Accountability Bureau(NAB) had been issued after thePrime Minister advised thePresident in terms of Section 6of the National AccountabilityOrdinance 1999 (NAO) formaking Justice (Retd) DeedarHussain Shah its chairman.

Abdul Hafeez Pirzada, counselfor Federation, appeared beforea four-member bench compris-ing Justice Javed Iqbal, JusticeTassadduq Hussain Jillani

See # 6 Page 11

New technique to be used for processing info: Shaikh

Malik says issues to be resolved in 2-3 days