The Financial Daily-Epaper-23-10-2010
12
International Peshawar mosque blast kills two See on Page 12 Lt Col, 5 troops killed in Hangu See on Page 12 KESC told to draw inflows, improve See on Page 12 *Crude Oil (brent)$/bbl 82.22 *Crude Oil (WTI)$/bbl 80.68 *Cotton $/lb 119.71 *Gold $/ozs 1,323.30 *Silver $/ozs 23.11 Malaysian Palm $ 968.70 GOLD (NCEL) PKR 36,575 KHI Cotton 40Kg PKR 8,198 *Last Updated 20:00 PST Yearly(Jul, 2010 up to 21-Oct-2010) Monthly(Oct, 2010 up to 21-Oct-2010) Daily (21-Oct-2010) Total Portfolio Invest (15 Oct-2010) 64.28 15.05 -1.98 2505 1.03 3.20 -4.91 2.33 -0.94 -0.14 -0.56 SCRA(U.S $ in million) Portfolio Investment FIPI (22-Oct-2010) Local Companies (22-Oct-2010) Banks / DFI (22-Oct-2010) Mutual Funds (22-Oct-2010) NBFC (22-Oct-2010) Local Investors (22-Oct-2010) Other Organization (22-Oct-2010) (U.S $ in million) NCCPL GDR update Commodities Forex Reserves (15-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10) GDP Growth FY10E Per Capita Income FY10 Population $17.10bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $100.90mn -3.85% 4.10% $1,051 170.86mn 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 19.10 2.00 1.70 9.96 PKR/Shares 111.61 163.97 42.93 36.49 34.20 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) 20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 12.77% 13.08% 13.22% 13.50% 12.70% 12.99% 13.21% 13.61% 13.71% 13.62% 13.75% 13.80% 14.22% 14.36% 14.52% Money Market Update Symbols Buy (Rs) Sell (Rs) Australian $ 84.45 84.65 Canadian $ 84.50 85.00 Danish Krone 14.80 15.20 Euro 118.50 119.00 Hong Kong $ 11.00 11.30 Japanese Yen 1.041 1.067 Saudi Riyal 22.80 23.10 Singapore $ 65.26 65.50 Swedish Korona 12.00 12.50 Swiss Franc 87.90 88.40 U.A.E Dirham 23.10 23.45 UK Pound 136.25 136.50 US $ 85.95 86.20 Open Mkt Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 84.12 84.32 Canadian $ 83.66 83.86 Danish Krone 16.03 16.06 Euro 119.53 119.81 Hong Kong $ 11.05 11.08 Japanese Yen 1.057 1.059 Saudi Riyal 22.88 22.93 Singapore $ 65.90 66.05 Swedish Korona 12.86 12.89 Swiss Franc 88.59 88.79 U.A.E Dirham 23.36 23.41 UK Pound 134.92 135.24 US $ 85.85 86.03 Inter-Bank Currency Rates Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com www.thefinancialdaily.com CITIES MAX-TEMP MIN ISLAMABAD 26°C 14°C KARACHI 38°C 21°C LAHORE 24°C 16°C FAISALABAD 29°C 17°C QUETTA 26°C 7°C RAWALPINDI 26°C 14°C Weather Forecast WASHINGTON: Secretary of State Clinton and Foreign Minister Shah Mehmood Qureshi speak at the State Department in Washington.-Reuters WASHINGTON: The US has announced a $2bn package of military and security aid to Pakistan on the final day of the latest Washington-Islamabad strategic talks. Secretary of State Hillary Clinton unveiled the five-year deal, which is subject to Congressional approval. Announcement of the mil- itary assistance, which would be delivered over five years from 2012 to 2016, came at the formal opening session of the third round of the US-Pakistan Strategic Dialogue, a series of bilateral meetings that began on Wednesday. In a joint press conference with Foreign Minister Shah Mehmood Qureshi US Secretary of State Hillary Rodham Clinton said that Pakistan is facing a number of challenges but America will help the country in these diffi- cult times. Clinton told the press confer- ence that President Barack Obama's administration would ask the US Congress to approve the military assistance to com- plement the $7.5 billion in civilian projects it already has approved. She promised to expedite the process regarding military aid bill in the Congress, reminding that America had already signed an energy accord with Pakistan in July regarding various water and power projects. "More active cooperation and further projects are also on the anvil, in accordance with Pakistan-American Strategic dialogue", she said. "The United States has no stronger partner when it comes to counterterrorism efforts against the extremists who threaten us both than Pakistan," Clinton said. Clinton said Pakistani and US officials had "productive dis- cussions" this week about elim- inating extremist groups oper- ating in Pakistan. Secretary of State said that America was closely working with Pakistan Army in rehabili- tation of the flood affectees, and assured that America would go to any lengths to pro- mote its friendship and mutual ties with Pakistan. Foreign Minister Shah Mehmood Qureshi said it was time to counter naysayers who argue that Islamabad's heart is not in the fight against the insurgents. "Prophets of doom are back in business, painting doomsday scenarios about our alliance," he said. "They are dead wrong." Qureshi urged Obama to press India for a solution to the disputed region of Kashmir, where the Muslim majority population has participated in violent protests in recent See # 5 Page 11 US announces $2bn mily aid Index Close Change KSE 100 10,652.48 93.74 Nikkei 225 9,426.71 50.23 Hang Seng 23,517.54 131.94 Sensex 30 20,165.86 94.72 ADX 2,807.50 21.01 SSE COMP. 2,975.04 8.49 FTSE 100 5,744.49 13.37 *Dow Jones 11,128.44 18.13 *Last Updated 20:00 PST Global Indices TURKMENBASHI: Russia's gas monopoly Gazprom could take part in a project to build gas pipeline from Turkmenistan to Pakistan and India via Afghanistan, Russia's energy tsar Igor Sechin said Friday. Turkmenistan, holder of the world's fourth-largest natural gas reserves, is keen to revive plans to build the TAPI (Turkmenistan-Afghanistan- Pakistan-India) pipeline. The project has been stalled by war in Afghanistan. The long-delayed project would also further efforts by Turkmenistan, Central Asia's largest gas producer, to diversi- fy its export routes and lessen dependence on its traditional partner Russia. Gazprom, the main buyer of Turkmen natural gas until Turkmenistan launched a China-bound pipeline last December, could play a role, Russian Deputy Prime Minister Igor Sechin said. "The issue of Gazprom's par- ticipation in the TAPI gas pipeline was discussed during this visit," Sechin told reporters during Russian President Dmitry Medvedev's visit to Turkmenistan. "Gazprom may participate in this project in any capacity -- builder, designer, participant, etc," Sechin said. Pakistan and India have expressed an interest in buying See # 6 Page 11 Gazprom may pipe TAPI plan America must fully trust Pakistan: Musharraf CHICAGO: Former President Pervez Musharraf Friday reit- erated that US must respect the sentiments of people and gov- ernment of Pakistan to reduce trust deficit. During his address at the Chicago University, Former President Pervez Musharraf said that Pakistan is a frontline ally in war against terrorism and US knows this very well. Pakistan has paid a heavy price and lost more than it gained, he underlined. He said that US must realise that we must move forward to augment Pak-US relations, as it is better for both the coun- tries.-Online Afghan peace hinges on Pakistan: Gilani See on Page 12 ISLAMABAD: The Supreme Court Friday issued notices to power producing companies, National Electric Power Regulatory Authority (NEPRA), Pakistan Electric Power Company (PEPCO) and Water and Power Development Authority (WAPDA) over the issue of Rental Power Plants (RPPs) and power price hike. The respondents were direct- ed to appear in person or to send their counsels on the next hearing to be held on October 26. The Chairman Nepra was served notice upon power tariff hike while high authorities in Pepco/Wapda were issued notices to produce record of all the agreements with compa- nies for setting up RPPs. A three-member bench com- prising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil ur Rehman Ramday resumed hearing of a suo moto case. Syed Faisal Saleh Hayat, a sitting parliamentarian of Pakistan Muslim League-Q, appeared and concluded his arguments over the issue. He said the RPPs was a total failure as a huge amount was paid to Karkey only, a power company, which had not start- ed functioning yet. He said Rs23 billion had been given to eight RPPs alone which only generated 62 mega watt powers. He said during their tenure in government, two RPPs could not yield the desired results and were termed a failure. He claimed that a top government func- tionary had awarded contract to his kin. See # 11 Page 11 Nepra, Pepco chiefs, Gencos served notices SC takes up RPPs, power price hike issues Khi covert operation launched, says Malik KARACHI: Interior Minister Rehman Malik claimed Friday that a secret operation has been launched here in the violence-hit city to cop the criminals. Addressing a joint press con- ference along with Sindh's Home Minister Dr Zulfiqar Ali Mirza, Malik said the govern- ment has broken the back of ter- rorists by launching successful operation in northwest parts of the country. "We shall restore peace in Karachi and other parts of the country. Strict action will be taken against those challenging the writ of the state," he said. See # 7 Page 11 WASHINGTON: The Obama administration will refuse to train or equip about a half- dozen Pakistani Army units that are allegedly believed to have killed unarmed prisoners and civilians during recent offensives against the Taliban. The cutoff of funds is an unusual rebuke to a wartime ally, and it illustrates the grow- ing tensions with a country that is seen as a pivotal partner, and sometimes impediment, in a campaign to root out al Qaeda and other militant groups, reported The New York Times. The White House has not told Pakistan government of the decision, even though sen- ior Pakistani military and civil- ian leaders are here for a series of meetings, according to offi- cials from both countries. The administration has briefed a few senior members of Congress, but it has not given them details about which Pakistani units will be affected by the suspension. One senior administration official said there was "a lot of concern about not embarrassing" the Pakistani military, especially during a week in which offi- cials are here for the third "Strategic Dialogue" in a year. The decision comes just as the two countries are trying to get beyond a sharp exchange after Nato helicopter gunships killed three Pakistani paramili- tary troops, and Pakistan retali- ated by shutting down a critical allied supply route into Afghanistan. President Obama met Wednesday in Washington with Pakistan Army Chief, Gen Ashfaq Parvez Kayani, and other senior Pakistani officials before leaving on a campaign trip to the West Coast, but the White House provided only a vague description of their con- versations. Most of the strate- gic dialogue is focused on a range of subjects, including counterterrorism, nuclear secu- rity, flood relief and trade. The officials who described the decision said it would affect some Pakistani Army and special operations troops supported by the United States that have conducted offensives against Taliban fighters in the Swat Valley and South Waziristan in the past year, the officials said. But the process is not over: some additional Pakistani units may yet be denied American aid, officials say. The Leahy Amendment, a law that stretches back more than a decade, requires the United States to cut off aid to foreign military units that are found to have committed gross violations of human rights. It has been applied in the past to Indonesia and Colombia, but never to a country of such strategic importance to the United States as Pakistan. "I told the White House that I have real concerns about the Pakistani military's actions, and I'm not going to close my eyes to it because of our national interests in Pakistan," Senator Patrick J Leahy, the author of the amendment, said Wednesday from his home in See # 10 Page 11 US to choke some mily aid over HR abuse White House still to intimate Pakistan about decision ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued showcause notices to 10 jute mills, all members of Pakistan Jute Mills Association (PJMA), for alleged cartelisation in sup- ply of gunnysacks to various government departments including Pakistan Agriculture Storage & Supply Corporation Limited (PASSCO) in violation of Section 4 of the Competition Act, 2010. According to a Commission statement, the jute mills that have been showcaused include Crescent Jute Products Ltd, Amin Fabrics Ltd, Indus Jute Mills Ltd, Habib Jute Mills Ltd, Thal Ltd, Sargodha Jute Mills Ltd, Suhail Jute Mills Ltd, White Pearl Jute Mills Ltd, Pioneer Jute Mills Ltd. and Madina Jute Mills Ltd. In order to detect cases of collusive tendering or bidding See # 8 Page 11 CCP takes aim at jute mills’ cartel WASHINGTON: The United States has agreed to finance under-construction Gomal Zam and Satpara dams pledg- ing to encourage its private sector to invest in Pakistan, Minister for Water and Power Raja Pervaiz Asharf said Friday. The federal minister, who led the Pakistani side in discussion on cooperation in the energy sector under Pakistan-US strategic partnership, said the United States also approved financing for the rehabilitation of old power plants. Raja Ashraf told journalists that Pakistan will spend money from its own resources on the construction of two small dams, Gomal Zam in South Waziristan and Satpara in the Northern Areas, and the United States will reimburse the cost of these two projects which is worth $60 million. "These short-term projects will help the country meet a shortfall of 450 megawatt," he stated. In the long-term perspective, he said, the US officials vowed to encourage the American pri- vate sector to invest in the See # 12 Page 11 US to afford Satpara, Gomal Zam dams Govt to autotomize 4 power cos: Ashraf SECP eats its own words in MD LSE appointment Staff Reporter KARACHI: According to informed sources Securities and Exchange Commission of Pakistan (SECP) has approved Aftab Chaudhry to be appointed as Managing Director of Lahore Stock Exchange (LSE). The point of concern for the investors' community is that he See # 9 Page 11 CDC reduces service charges Staff Reporter KARACH: The Board of Directors of the Central Depository Company of Pakistan (CDC) Friday approved reduction in the transaction and trustee fees. According to details, the transaction charges have been slashed by 50 per cent and custody fee by 25 per cent. Khurram Schehzad, Head of Research at InvestCap said that it's a good step and will reduce the See # 16 Page 11 Karachi, Saturday, October 23, 2010, Zul-Qa’dah 14, Price Rs12 Pages 12 US has no ally in WoT stronger than Pakistan: Clinton Aid to Pakistan spanning over 5yrs subject to Congress OK
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The Financial Daily Epaper
Transcript of The Financial Daily-Epaper-23-10-2010
International
Peshawar mosque blast kills two See on Page 12
Lt Col, 5 troops killed in Hangu See on Page 12
KESC told to draw inflows, improve See on Page 12
*Crude Oil (brent)$/bbl 82.22
*Crude Oil (WTI)$/bbl 80.68
*Cotton $/lb 119.71
*Gold $/ozs 1,323.30
*Silver $/ozs 23.11
Malaysian Palm $ 968.70
GOLD (NCEL) PKR 36,575
KHI Cotton 40Kg PKR 8,198
*Last Updated 20:00 PST
Yearly(Jul, 2010 up to 21-Oct-2010)
Monthly(Oct, 2010 up to 21-Oct-2010)
Daily (21-Oct-2010)
Total Portfolio Invest (15 Oct-2010)
64.28
15.05
-1.98
2505
1.03
3.20
-4.91
2.33
-0.94
-0.14
-0.56
SCRA(U.S $ in million)
Portfolio Investment
FIPI (22-Oct-2010)
Local Companies (22-Oct-2010)
Banks / DFI (22-Oct-2010)
Mutual Funds (22-Oct-2010)
NBFC (22-Oct-2010)
Local Investors (22-Oct-2010)
Other Organization (22-Oct-2010)
(U.S $ in million)
NCCPL
GDR update
Commodities
Forex Reserves (15-Oct-10)
Inflation CPI% (Jul 10-Sep 10)
Exports (Jul 10-Sep 10)
Imports (Jul 10-Sep 10)
Trade Balance (Jul 10-Sep 10)
Current A/C (Jul 10- Sep10)
Remittances (Jul 10-Sep 10)
Foreign Invest (Jul 10-Sep10)
Revenue (Jul 10-Sep 10)
Foreign Debt (Jun 10)
Domestic Debt (Aug 10)
Repatriated Profit (Jul- Aug 10)
LSM Growth (Aug 10)
GDP Growth FY10EPer Capita Income FY10Population
$17.10bn
13.77%
$5.18bn
$9.03bn
$(3.85)bn
$(545)mn
$2.65bn
$455.10mn
Rs 310bn
$55.63bn
Rs 4863bn
$100.90mn
-3.85%
4.10%
$1,051
170.86mn
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
19.10
2.00
1.70
9.96
PKR/Shares
111.61
163.97
42.93
36.49
34.20
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)
20-Oct-2010
20-Oct-2010
20-Oct-2010
29-Sep-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
22-Oct-2010
12.77%
13.08%
13.22%
13.50%
12.70%
12.99%
13.21%
13.61%
13.71%
13.62%
13.75%
13.80%
14.22%
14.36%
14.52%
Money Market Update
Symbols Buy (Rs) Sell (Rs)
Australian $ 84.45 84.65
Canadian $ 84.50 85.00
Danish Krone 14.80 15.20
Euro 118.50 119.00
Hong Kong $ 11.00 11.30
Japanese Yen 1.041 1.067
Saudi Riyal 22.80 23.10
Singapore $ 65.26 65.50
Swedish Korona 12.00 12.50
Swiss Franc 87.90 88.40
U.A.E Dirham 23.10 23.45
UK Pound 136.25 136.50
US $ 85.95 86.20
Open Mkt Currency Rates
Symbols Buying Selling
TT Clean TT & OD
Australian $ 84.12 84.32
Canadian $ 83.66 83.86
Danish Krone 16.03 16.06
Euro 119.53 119.81
Hong Kong $ 11.05 11.08
Japanese Yen 1.057 1.059
Saudi Riyal 22.88 22.93
Singapore $ 65.90 66.05
Swedish Korona 12.86 12.89
Swiss Franc 88.59 88.79
U.A.E Dirham 23.36 23.41
UK Pound 134.92 135.24
US $ 85.85 86.03
Inter-Bank Currency Rates
Subscribe now
Tel: 92-21-5311893-6Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
CITIES MAX-TEMP MIN
ISLAMABAD 26°C 14°C KARACHI 38°C 21°C LAHORE 24°C 16°C FAISALABAD 29°C 17°C QUETTA 26°C 7°C RAWALPINDI 26°C 14°C
Weather Forecast
WASHINGTON: Secretary of State Clinton and Foreign Minister Shah Mehmood Qureshi
speak at the State Department in Washington.-Reuters
WASHINGTON: The US hasannounced a $2bn package ofmilitary and security aid toPakistan on the final day of thelatest Washington-Islamabadstrategic talks.
Secretary of State HillaryClinton unveiled the five-yeardeal, which is subject toCongressional approval.
Announcement of the mil-itary assistance, whichwould be delivered overfive years from 2012 to2016, came at the formalopening session of the thirdround of the US-PakistanStrategic Dialogue, a seriesof bilateral meetings thatbegan on Wednesday.
In a joint press conferencewith Foreign Minister ShahMehmood Qureshi USSecretary of State HillaryRodham Clinton said thatPakistan is facing a number ofchallenges but America willhelp the country in these diffi-cult times.
Clinton told the press confer-ence that President BarackObama's administration wouldask the US Congress to approvethe military assistance to com-plement the $7.5 billion incivilian projects it already hasapproved.
She promised to expeditethe process regarding militaryaid bill in the Congress,reminding that America hadalready signed an energyaccord with Pakistan in Julyregarding various water andpower projects.
"More active cooperationand further projects are alsoon the anvil, in accordancewith Pakistan-AmericanStrategic dialogue", she said.
"The United States has nostronger partner when it comesto counterterrorism effortsagainst the extremists whothreaten us both than Pakistan,"Clinton said.
Clinton said Pakistani and USofficials had "productive dis-
cussions" this week about elim-inating extremist groups oper-ating in Pakistan.
Secretary of State said thatAmerica was closely workingwith Pakistan Army in rehabili-tation of the flood affectees,and assured that Americawould go to any lengths to pro-mote its friendship and mutualties with Pakistan.
Foreign Minister ShahMehmood Qureshi said it wastime to counter naysayers whoargue that Islamabad's heart isnot in the fight against theinsurgents.
"Prophets of doom are backin business, painting doomsdayscenarios about our alliance,"he said. "They are deadwrong."
Qureshi urged Obama topress India for a solution to thedisputed region of Kashmir,where the Muslim majoritypopulation has participated inviolent protests in recent
See # 5 Page 11
US announces$2bn mily aid
Index Close Change
KSE 100 10,652.48 93.74
Nikkei 225 9,426.71 50.23
Hang Seng 23,517.54 131.94
Sensex 30 20,165.86 94.72
ADX 2,807.50 21.01
SSE COMP. 2,975.04 8.49
FTSE 100 5,744.49 13.37
*Dow Jones 11,128.44 18.13
*Last Updated 20:00 PST
Global Indices
TURKMENBASHI: Russia'sgas monopoly Gazprom couldtake part in a project to buildgas pipeline fromTurkmenistan to Pakistan andIndia via Afghanistan, Russia'senergy tsar Igor Sechin saidFriday.
Turkmenistan, holder of theworld's fourth-largest naturalgas reserves, is keen to reviveplans to build the TAPI(Turkmenistan-Afghanistan-Pakistan-India) pipeline. Theproject has been stalled by warin Afghanistan.
The long-delayed projectwould also further efforts byTurkmenistan, Central Asia'slargest gas producer, to diversi-fy its export routes and lessendependence on its traditional
partner Russia.Gazprom, the main buyer of
Turkmen natural gas untilTurkmenistan launched aChina-bound pipeline lastDecember, could play a role,Russian Deputy PrimeMinister Igor Sechin said.
"The issue of Gazprom's par-ticipation in the TAPI gaspipeline was discussed duringthis visit," Sechin toldreporters during RussianPresident Dmitry Medvedev'svisit to Turkmenistan.
"Gazprom may participate inthis project in any capacity --builder, designer, participant,etc," Sechin said.
Pakistan and India haveexpressed an interest in buying
See # 6 Page 11
Gazprom maypipe TAPI plan
America mustfully trustPakistan:
MusharrafCHICAGO: Former PresidentPervez Musharraf Friday reit-erated that US must respect thesentiments of people and gov-
ernment of Pakistan to reducetrust deficit.
During his address at theChicago University, FormerPresident Pervez Musharrafsaid that Pakistan is a frontlineally in war against terrorismand US knows this very well.
Pakistan has paid a heavyprice and lost more than itgained, he underlined.
He said that US must realisethat we must move forward toaugment Pak-US relations, asit is better for both the coun-tries.-Online
Afghan peace hingeson Pakistan: Gilani
See on Page 12
ISLAMABAD: The SupremeCourt Friday issued notices topower producing companies,National Electric PowerRegulatory Authority(NEPRA), Pakistan ElectricPower Company (PEPCO) andWater and Power DevelopmentAuthority (WAPDA) over theissue of Rental Power Plants(RPPs) and power price hike.
The respondents were direct-ed to appear in person or tosend their counsels on the nexthearing to be held on October26. The Chairman Nepra wasserved notice upon power tariff
hike while high authorities inPepco/Wapda were issuednotices to produce record of allthe agreements with compa-nies for setting up RPPs.
A three-member bench com-prising Chief Justice IftikharMuhammad Chaudhry, JusticeGhulam Rabbani and JusticeKhalil ur Rehman Ramdayresumed hearing of a suo motocase.
Syed Faisal Saleh Hayat, asitting parliamentarian ofPakistan Muslim League-Q,appeared and concluded hisarguments over the issue.
He said the RPPs was a totalfailure as a huge amount waspaid to Karkey only, a powercompany, which had not start-ed functioning yet.
He said Rs23 billion hadbeen given to eight RPPs alonewhich only generated 62 megawatt powers. He said duringtheir tenure in government,two RPPs could not yield thedesired results and weretermed a failure. He claimedthat a top government func-tionary had awarded contractto his kin.
See # 11 Page 11
Nepra, Pepco chiefs,Gencos served notices
SC takes up RPPs, power price hike issues
Khi covertoperationlaunched,
says MalikKARACHI: Interior MinisterRehman Malik claimed Fridaythat a secret operation has beenlaunched here in the violence-hitcity to cop the criminals.
Addressing a joint press con-ference along with Sindh'sHome Minister Dr Zulfiqar AliMirza, Malik said the govern-ment has broken the back of ter-rorists by launching successfuloperation in northwest parts ofthe country.
"We shall restore peace inKarachi and other parts of thecountry. Strict action will betaken against those challengingthe writ of the state," he said.
See # 7 Page 11
WASHINGTON: The Obamaadministration will refuse totrain or equip about a half-dozen Pakistani Army unitsthat are allegedly believed tohave killed unarmed prisonersand civilians during recentoffensives against the Taliban.
The cutoff of funds is anunusual rebuke to a wartimeally, and it illustrates the grow-ing tensions with a country thatis seen as a pivotal partner, andsometimes impediment, in acampaign to root out al Qaedaand other militant groups,
reported The New York Times. The White House has not
told Pakistan government ofthe decision, even though sen-ior Pakistani military and civil-ian leaders are here for a seriesof meetings, according to offi-cials from both countries.
The administration hasbriefed a few senior membersof Congress, but it has notgiven them details about whichPakistani units will be affectedby the suspension. One senioradministration official saidthere was "a lot of concern
about not embarrassing" thePakistani military, especiallyduring a week in which offi-cials are here for the third"Strategic Dialogue" in a year.
The decision comes just asthe two countries are trying toget beyond a sharp exchangeafter Nato helicopter gunshipskilled three Pakistani paramili-tary troops, and Pakistan retali-ated by shutting down a criticalallied supply route intoAfghanistan.
President Obama metWednesday in Washington
with Pakistan Army Chief, GenAshfaq Parvez Kayani, andother senior Pakistani officialsbefore leaving on a campaigntrip to the West Coast, but theWhite House provided only avague description of their con-versations. Most of the strate-gic dialogue is focused on arange of subjects, includingcounterterrorism, nuclear secu-rity, flood relief and trade.
The officials who describedthe decision said it wouldaffect some Pakistani Armyand special operations troops
supported by the United Statesthat have conducted offensivesagainst Taliban fighters in theSwat Valley and SouthWaziristan in the past year, theofficials said. But the processis not over: some additionalPakistani units may yet bedenied American aid, officialssay.
The Leahy Amendment, alaw that stretches back morethan a decade, requires theUnited States to cut off aid toforeign military units that arefound to have committed gross
violations of human rights. Ithas been applied in the past toIndonesia and Colombia, butnever to a country of suchstrategic importance to theUnited States as Pakistan.
"I told the White House that Ihave real concerns about thePakistani military's actions,and I'm not going to close myeyes to it because of ournational interests in Pakistan,"Senator Patrick J Leahy, theauthor of the amendment, saidWednesday from his home in
See # 10 Page 11
US to choke some mily aid over HR abuse White House still to intimate Pakistan about decision
ISLAMABAD: TheCompetition Commission ofPakistan (CCP) has issuedshowcause notices to 10 jutemills, all members of PakistanJute Mills Association (PJMA),for alleged cartelisation in sup-ply of gunnysacks to variousgovernment departmentsincluding Pakistan AgricultureStorage & Supply CorporationLimited (PASSCO) in violationof Section 4 of the CompetitionAct, 2010.
According to a Commissionstatement, the jute mills thathave been showcaused includeCrescent Jute Products Ltd,Amin Fabrics Ltd, Indus JuteMills Ltd, Habib Jute MillsLtd, Thal Ltd, Sargodha JuteMills Ltd, Suhail Jute MillsLtd, White Pearl Jute MillsLtd, Pioneer Jute Mills Ltd.and Madina Jute Mills Ltd.
In order to detect cases ofcollusive tendering or bidding
See # 8 Page 11
CCP takes aim atjute mills’ cartel
WASHINGTON: The UnitedStates has agreed to financeunder-construction GomalZam and Satpara dams pledg-ing to encourage its privatesector to invest in Pakistan,Minister for Waterand Power Raja Pervaiz Asharfsaid Friday.
The federal minister, who ledthe Pakistani side in discussionon cooperation in the energysector under Pakistan-USstrategic partnership, said theUnited States also approvedfinancing for the rehabilitationof old power plants.
Raja Ashraf told journalists
that Pakistan will spend moneyfrom its own resources on theconstruction of two smalldams, Gomal Zam in SouthWaziristan and Satpara in theNorthern Areas, and the UnitedStates will reimburse the costof these two projects which isworth $60 million.
"These short-term projectswill help the country meet ashortfall of 450 megawatt," hestated.
In the long-term perspective,he said, the US officials vowedto encourage the American pri-vate sector to invest in the
See # 12 Page 11
US to afford Satpara,Gomal Zam dams
Govt to autotomize 4 power cos: Ashraf
SECP eats itsown wordsin MD LSE
appointmentStaff Reporter
KARACHI: According toinformed sources Securities andExchange Commission ofPakistan (SECP) has approvedAftab Chaudhry to be appointedas Managing Director of LahoreStock Exchange (LSE).
The point of concern for theinvestors' community is that he
See # 9 Page 11
CDC reducesservice charges
Staff ReporterKARACH: The Board of Directors of the Central DepositoryCompany of Pakistan (CDC) Friday approved reduction in thetransaction and trustee fees.
According to details, the transaction charges have been slashedby 50 per cent and custody fee by 25 per cent.
Khurram Schehzad, Head of Research at InvestCap said thatit's a good step and will reduce the See # 16 Page 11
Karachi, Saturday, October 23, 2010, Zul-Qa’dah 14, Price Rs12 Pages 12
US has no ally in WoT stronger than Pakistan: Clinton
Aid to Pakistan spanning over 5yrs subject to Congress OK
2 Saturday, October 23, 2010
TV PROGRAMMES
SATURDAY
Time Programmes
7:00 News
8:00 News
9:05 Best of Subah
Savere
11:10 Mohaaz (F)
12:00 News
13:10 Newsbeat
(Rpt)
14:10 Awam Ki
Awaz
15:00 News
16:00 News
17:30 Samaa Metro
18:00 News
18:30 Samaa Sports
19:30 Taxi News
20:05 The Anchor
21:00 News
22:05 Manzil
23:03 Faisla Aap Ka
Zahid Karani
KARACHI: The OBSPharma and AitkenStuartGroups formally announcedtheir agreement to collabo-rate in business develop-ment in the areas ofP h a r m a c e u t i c a l s ,Chemicals, ConsumerGoods, Personal Care andBusiness NetworkingSolutions, it has been learnt.
The leadership of bothcompanies signed an agree-ment in this regard withfirm belief that the futurefor multinational corpora-tions in Pakistan and othersimilar geographies willcome through partnering
with like-minded local busi-ness houses with similargovernance standards andbusiness vision.
Besides aggressivelygrowing their current port-folios, both companies arein discussions with rep-utable MNCs for possiblestrategic alliances, which inaddition to creating share-holder-value will result inenhanced employmentopportunities for the localpopulation.
OBS is currently a keyplayer in the PakistanPharmaceuticals Marketwith recent high-profileacquisitions of Organon andMerck under its belt.
AitkenStuartjoins hand with
OBS pharma
M Imran Sharif
KARACHI: The 10thBest Corporate ReportAwards Ceremony for thesession 2009 was held onFriday. Dr Ishrat Hussain,Dean of Institute ofBusiness Administrator(IBA), was the chief guestat the occasion.
Speaking on the ceremo-ny Hassan A Bilgrami,President Institute ofChartered Accountants ofPakistan (ICMAP) saidthat Annual reports play animportant role in the cor-porate world. It is commonpractice for shareholders,creditors, and analysts to
use annual reports as cred-ible, confirmatory databas-es of information.
This event is organisedeach year jointly by theInstitute of CharteredAccountants of Pakistan(ICAP) and Institute ofCost and ManagementAccountants of Pakistan(ICMAP). The objective ofthe award is to encourageand give recognition toexcellence in annual cor-porate reports. It seeks topromote corporateaccountability and trans-parency through the publi-cation of timely, informa-tive, factual and readerfriendly annual reports.
Corporate reportawards held
KARACHI: SuiSouthern Gas CompanyLtd (SSGC) has appealedto the industrial units invarious industrial areasto voluntarily curtail gasconsumption by 20 percent from October 27 toNovember 4.
A spokesperson ofSSGC said here on Fridaythat the company will facecurtailment of 204 mmcfof gas per day fromZamzama gas field due toannual turn around (ATA),being carried out by theoperators at the field.
SSGC spokespersonsaid that this ATA of theZamzama Field willseverely hamper thecompany's capacity to
serve industries locatedin Karachi at SITE,Korangi, Landhi, FederalB. Area, North Karachi,Bin Qasim and inHyderabad.
He said SSGC hasrequested SITEAssociation of Industry,Korangi Association ofTrade and Industry,Landhi Association ofTrade and Industry, F.B.Area Association ofTrade and Industry,North KarachiAssociation of Trade andIndustry) and Bin QasimAssociation of Trade andIndustry to cooperatewith the utility.
He said that SSGC hasalways provided an unin-
terrupted gas supply toall its customers.However, being a trans-mission and distributioncompany, SSGC is total-ly dependent on thequantities of gas itreceives from the variousgas fields.
SSGC assured thatonce the ATA periodends, the company willresume uninterrupted gassupply to all customersincluding the industrialunits.
At the same time, thecompany assures itsdomestic and commercialcustomers that it willcontinue to provide themwith uninterrupted, sup-ply.-APP
Industries urgedto save gas
KARACHI: An importantmeeting convened by CM,Sindh Syed Qaim Ali Shahand attended by interiorminister Rehman Malik,chairman NADRA(National DatabaseRegistration Authority),Arshad Ali Hakeem andother high ranking offi-cials on Friday has takenstrong notice of the factthat some nefarious ele-ments were taking unfairadvantage of gulliblemasses into surrenderingtheir Watan Cards forRs20, 000.
The meeting has decidedto take strict action againstsuch elements, who man-age to fleece masses overthe false promise that theywould be issued anothercard in return of their
money.It was also decided that
the remaining amount ofRs80, 000 would also bedisbursed to affectees overthe very same Watan card,and those who had fallenprey to nefarious fraud-sters, had been advised toinform NADRA or anybranch of HabibBank/United Bank, so thattheir registration should berechecked in order tomaintain vigil over fraud-sters.
Following the directivesof President Asif AliZardari, the meeting hasalso decided to advise thefamily heads of rural areasor married males to havetheir NIC ready byNADRA in order to availWatan Cards.-APP
Qaim takesnotice of Watan
card fraudsFRIDAY
Time Programmes
8:00 Chai Time (Rpt)
9:00 Siyasat Mana Hai
(Rpt)
10:00 Dilkash Pakistan
10:30 Sara jahan(Rpt)
11:00 Karobari Duniya
(Rpt)
12:00 News
12:05 Islamabad Say
(Rpt)
13:00 AM News
13:05 Siyasat Mana Hai
(Rpt)
14:00 News
15:00 News
15:05 Doosra Pehlu (Rpt)
16:00 News
16:05 filmi Samaa(rpt)
16:30 Red Carpet (Rpt)
17:00 News
17:05 Agri Business
17:30 Pakistan This
Week
18:00 News
18:05 Sara jahan(Rpt)
18:30 Dilkash Pakistan
19:00 News
19:30 Tijarti Dunia
20:00 News
20:05 Kamyab
21:00 News
21:05 Teesri nazar
22:00 News
22:05 Doosra Pehlu
22:30 Uff Tv
PLGMEAassuredreleaseof duty
drawbacksStaff Reporter
KARACHI: ChairmanPakistan Leather GarmentsManufacturers & ExportersAssociation (PLGMEA)Fawad Ijaz Khan heldmeetings with Customsofficials for release ofpending Duty DrawbackClaims of PLGMEA mem-bers and revision of DutyDrawback Rates, it hasbeen learnt.
As per PLGMEA calcu-lations it should be 4.62 percent on Export of LeatherGarments and 4.50 per centfor Leather hand bags,sources further said.
PLGMEA had been pur-suing the case for revisionof Duty Drawback rates inconsultation with theAssociation for the lastfour years but FBR hadunilaterally slashed theDuty Drawback Rates.PLGMEA also contestedthat there should be singlerate for all types of LeatherGarments instead of fourdifferent rates notified byFBR.
Abdul Rashid assuredChairman PLGMEA thathe will look into the griev-ance of the Association andreview the existing DutyDrawback Rates. Herequested to be givennames of companies forsurvey to determine therevised Duty Drawbackrates.
SGSPak MD
reinstatedKARACHI: In a recentmeeting of the SwissBusiness Council (SBC),Farukh Mazhar ManagingDirector, SGS Pakistan hasbeen re-appointed asPresident, Swiss BusinessCouncil for the year 2010-2011, said a handout issuedhere.
Mujtaba Rahim,Managing Director,Clariant Pakistan will bethe Vice President, YasminPeermohammed, CountryManager, SwissInternational will act asSecretary and ArshadSaeed, Managing Director,Syngenta Pakistan is elect-ed as Treasurer.-PR
Delayin GST
impositionconcerns
SindhKARACHI: The SindhGovernment hasexpressed its deep concernover delay in the imposi-tion of General Sales Tax(GST) on services.
According to a state-ment of CM House issuedhere on Friday, the meet-ing chaired by SindhChief Minister Syed QaimAli Shah, observed thatthe Federal Governmentwas not taking the issueseriously and ignoring therights of the provincialgovernment.
The delay in GST wasalso affecting the revenuegeneration and develop-ment activities of theprovince, it added.
The meeting discussedvarious problems and pro-posals in this regard.
The meeting was attend-ed among others by CM'sAdvisor on Planning andDevelopment QaiserBengali, Chief SecretarySindh Ghulam Ali Pasha,Secretary FinanceSiddique Memon,Secretary PlanningNaheed Shah Durrani,Chairman Sindh RevenueBoard Nazar Hussain andMember Sindh RevenueBoard Mumtaz Shaikh.-APP
MeezanBank’sbranch
count risesto 204
Staff Reporter
KARACHI: With theopening of its 204thbranch, the Abul HassanIsphahani Road Branch atKarachi, Meezan Banknow has the distinction ofbeing among the 10 largestbanks in Pakistan in termsof branch network.
Meezan bank hasachieved a milestone bysuccessfully establishing anetwork of 204 branchesspread over 54 cities acrossPakistan within a shortspan of 8 years.
The Bank's strategy tocontinue expanding itsbranch network is drivenby its vision to "EstablishIslamic Banking asBanking of First Choice"so as to enable it to reacheach and every citizen ofPakistan. Meezan Bankoffers a complete range ofIslamic banking productsand services, including freeonline banking for all PakRupee accounts at all itsbranches. The Bank's retailbanking network is sup-ported by 24/7 bankingservices that include over165 ATMs, InternetBanking, VISA Debit cardand a 24-hour Call Center.
The Bank's VISA Debitcard allows its customers toshop at more than 30 mil-lion merchants worldwideand withdraw funds fromtheir accounts from morethan 1.4 million ATM'sworldwide.
Etihad getsreaderschoiceaward
KARACHI: EtihadAirways was recentlyranked number two in the'Top Airlines Global' cate-gory in the 23rd annualCondé Nast TravelerReaders' Choice TravelAwards held in New York,said a handout issued hereon Friday.
Choice Travel Awards isone of the top internationaltravel awards programs.These rankings are based onthe annual survey of over25,000 Condé Nast Travelerreaders worldwide. Etihadwon this recognition for itsoutstanding achievementsas an airline, receiving theaward second to SingaporeAirlines and ahead of itsMiddle-Eastern competi-tion.
Peter Baumgartner,Etihad Airways' ChiefCommercial Officer said;"We are delighted to berecognised by global trav-ellers in this way. Theaward is testament to thecommitment of our staff,whose continuous contri-butions to the airlineensures that the addedvalue of our innovativeproducts and services isrecognised internationally.Our goal remains the same;to provide a seamless,comfortable end-to-endtravel experience in the airand on the ground for allour passengers. Receivingthis accolade confirms thatour direction and strategyis the right one for us andfor our customers.-PR
KARACHI: Kaleem Siddiqui, President PetroleumMarketing Byco receiving 1st Global CEO
Excellence Award from Federal Minister NaveedQamar.-Photo by Imran Sharif
KARACHI: Meezan Bank inaugurated its 204th branch at Abul Hasan Isphaniroad, Picture shows Irfan Siddiqui, President & CEO Meezan Bank Ltd, ArifulIslam, COO Meezan Bank Ltd. along with other officials present at the occa-
sion.-Staff Photo
FAISALABAD: Samsung Senior Manager Jae Leewith Samsung CE Service Manager Shaikh Abdul
Hai, Orient Service Manger Inam Opening CECustomer Service Plaza in Faisalabad.-Staff Photo
KARACHI: Dr Zulfiqar A Bhutta, Dr Abdul GaffarBilloo and Dr Imran Khan of Trust for Vaccines& Immunization can be seen at Typhoid Fever
Awareness session along with collaborativepartners’ representatives.-Staff Photo
MUMBAI: The Indian rupeeon Friday snapped a seven-week rally and posted itsbiggest daily loss in a month-and-a-half as traders positionedfor dollar outflows post thecountry's largest initial publicoffer allocation.
However, most of the foreignfunds are likely to have hedgeda significant part of their posi-tions, which could reduce thequantum of outflows, traderssaid. Coal India's $3.5 billionIPO, the country's largest, wasmore than 15 times subscribedon its final day, giving the gov-ernment power to price theissue towards the top of itsrange and building momentumfor other state offers.
The partially convertiblerupee closed at 44.59/60 perdollar, 0.65 per cent belowThursday's close of 44.30/31.This is the rupee's biggest one-day fall since the week of Sept.7, when it had dropped 0.66 percent on the day.
Some analysts expect foreignfunds to stay invested in theIndian markets ahead of other
large share sales in comingmonths which would alsoreduce the total outflows postthe Coal India allocation.
One-month offshore non-deliverable forward contractswere quoted at 44.92, weakerthan the onshore spot rate.
In the currency futures mar-ket, the most-traded near-month dollar-rupee contractson the National StockExchange, MCX-SX andUnited Stock Exchange closedat 44.6075, 44.62 and 44.62respectively, with traded vol-ume on the three exchanges ata low $6.9 billion. -Reuters
Indian rupee snaps 7-wkrally on outflow concerns
3Saturday, October 23, 2010
Currency Rates
Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).
British Members Association Interest Settlement Rates.
AT 11:00 LONDON TIME 22/10/2010
A USD GBP CAD EUR JPY
O/N 0.22563 0.55250 1.03000 0.77000 SN 0.09438
1WK 0.25150 0.55500 1.05417 0.75750 0.10688
2WK 0.25169 0.56125 1.07333 0.76750 0.11438
1MO 0.25625 0.56875 1.11000 0.78875 0.12750
2MO 0.27109 0.62563 1.15667 0.84625 0.15500
3MO 0.28844 0.73725 1.21500 0.96875 0.19813
4MO 0.34219 0.82272 1.27333 1.03000 0.28313
5MO 0.40281 0.92563 1.32917 1.11625 0.34125
6MO 0.45250 1.02750 1.40000 1.21063 0.40125
7MO 0.50219 1.10225 1.46167 1.25625 0.46125
8MO 0.55025 1.18444 1.54500 1.30000 0.50625
9MO 0.60063 1.26500 1.61333 1.35250 0.55625
10MO 0.65388 1.33938 1.67833 1.39563 0.58375
11MO 0.70688 1.40688 1.76000 1.44313 0.61313
12MO 0.76538 1.47319 1.83333 1.49031 0.64188
Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ
U.S.A. 86.00 85.80 85.61
U.K. 135.24 134.92 134.62
EURO 119.81 119.53 119.25
CANADA 83.86 83.66 83.44
SWITZERLAND 88.79 88.59 88.35
AUSTRALIA 84.32 84.12 83.90
SWEDEN 12.89 12.86 12.83
JAPAN 1.06 1.06 1.05
NORWAY 14.69 14.66 14.62
SINGAPORE 66.05 65.90 65.72
DENMARK 16.06 16.03 15.98
SAUDI ARABIA 22.93 22.88 22.82
HONG KONG 11.08 11.05 11.02
CHINA 12.92 12.89 12.85
KUWAIT 305.61 304.90 304.10
MALAYSIA 27.65 27.59 27.52
NEW ZEALAND 64.35 34.20 64.03
QATAR 23.64 23.58 23.52
U.A.E. 23.41 23.36 23.30
KR WON 0.08 0.08 0.08
THAILAND 2.88 2.87 2.86
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
ABPL 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
ABLN 11.75 12.25 11.85 12.35 12.15 12.65 12.75 13.00 12.90 13.15 13.10 13.60 13.25 13.75 13.35 13.85
JSBL 11.70 12.20 12.00 12.50 12.30 12.80 12.80 13.05 13.10 13.35 13.20 13.70 13.30 13.80 13.50 14.00
ASPK 11.70 12.20 11.80 12.30 12.10 12.60 12.60 12.85 12.80 13.05 13.05 13.55 13.15 13.65 13.25 13.75
CIPK 11.70 12.20 11.90 12.40 12.25 12.75 12.80 13.05 13.10 13.35 13.20 13.70 13.25 13.75 13.40 13.90
DBPK 11.55 12.05 11.75 12.25 12.10 12.60 12.70 12.95 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.85
FBPK 11.60 12.10 11.75 12.25 12.00 12.50 12.60 12.85 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90
FLAH 11.75 12.25 11.90 12.40 12.20 12.70 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80
HBPK 11.75 12.25 12.00 12.50 12.25 12.75 12.75 13.00 13.00 13.25 13.10 13.60 13.20 13.70 13.35 13.85
HKBP 11.85 12.35 12.00 12.50 12.20 12.70 12.75 13.00 12.90 13.15 13.10 13.60 13.20 13.70 13.30 13.80
N I PK 11.35 11.85 11.90 12.40 12.50 13.00 12.85 13.10 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80
HMBP 11.70 12.20 11.90 12.40 12.40 12.90 12.80 13.05 13.00 13.25 13.15 13.65 13.20 13.70 13.30 13.80
SAMB 11.75 12.25 12.00 12.50 12.30 12.80 12.85 13.10 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85
MCBK 11.55 12.05 12.00 12.50 12.40 12.90 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.40 13.90
NBPK 11.75 12.25 11.80 12.30 12.10 12.60 12.70 12.95 12.80 13.05 13.10 13.60 13.20 13.70 13.30 13.80
SCPK 11.60 12.10 11.80 12.30 12.15 12.65 12.65 12.90 12.95 13.20 13.10 13.60 13.15 13.65 13.35 13.85
UBPL 11.60 12.10 11.80 12.30 12.10 12.60 12.60 12.85 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80
AVE 11.69 12.19 11.89 12.39 12.20 12.70 12.74 12.99 12.96 13.21 13.11 13.61 13.21 13.71 13.34 13.84
London Inter Bank Offered Rates (LIBOR)
Karachi Inter Bank Offered Rates (KIBOR)
Name Bid Ask High Low
EUR-USD 1.3921 1.3923 1.3973 1.3860
EUR-GBP 0.8871 0.8883 0.8888 0.885
EUR-CHF 1.363 1.3634 1.3635 1.364
EUR-JPY 113.39 113.44 113.54 112.62
USD-CHF 0.9783 0.9788 0.9795 0.9661
USD-CAD 1.0264 1.0269 1.03 1.0226
GBP-USD 1.5673 1.5679 1.5747 1.5652
GBP-JPY 127.69 127.75 127.89 127.12
AUD-USD 0.9796 0.9801 0.9853 0.9760
EUR-CAD 1.4291 1.4299 1.4321 1.4265
CHF-JPY 83.16 83.22 84.12 83.10
Gold 1322.11 1322.84 1327.93 1315.91
Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)22/10/2010
As per 22.00 PST
CMKA BMA INVSR GSL ICSL JSCM AvgRate
0-7days 11.95 12.00 11.80 11.90 12.00 11.90 11.93
8-15dys 12.10 12.10 12.00 12.05 12.15 12.10 12.08
16-30dys 12.30 12.30 12.20 12.25 12.25 12.30 12.27
31-60dys 12.40 12.35 12.35 12.35 12.35 12.40 12.37
61-90dys 12.65 12.65 12.60 12.69 12.65 12.65 12.65
91-120dys 12.80 12.75 12.70 12.80 12.75 12.75 12.76
121-180dys 13.00 12.95 12.90 12.99 13.00 13.00 12.97
181-270dys 13.05 13.00 13.00 13.10 13.10 13.05 13.05
271-365dys 13.20 13.15 13.10 13.22 13.20 13.20 13.18
2-- years 13.40 13.40 13.35 13.40 13.40 13.35 13.38
3-- years 13.60 13.60 13.60 13.65 13.60 13.68 13.62
4-- years 13.70 13.70 13.70 13.68 13.73 13.70 13.70
5-- years 13.75 13.75 13.75 13.74 13.75 13.74 13.75
6-- years 13.75 13.75 13.78 13.75 13.75 13.75 13.76
7-- years 13.75 13.75 13.78 13.76 13.75 13.75 13.76
8-- years 13.75 13.73 13.75 13.77 13.75 13.70 13.74
9-- years 13.70 13.73 13.65 13.65 13.70 13.73 13.69
10--years 13.80 13.77 13.80 13.85 13.80 13.75 13.80
15--years 14.20 14.25 14.20 14.20 14.20 14.25 14.22
20--years 14.35 14.50 14.30 14.35 14.30 14.35 14.36
30--years 14.50 14.60 14.50 14.50 14.50 14.50 14.52
Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for October 22, 2010
Source Events Actual Forecast Previous
AUD Import Prices q/q 0.7% 0.0% 2.0%
EUR German Ifo Business Climate 107.6 106.5 106.8
EUR Italian Retail Sales m/m 0.0% 0.0% 0.1%
CAD Core CPI m/m 0.2% 0.3% 0.1%
CAD CPI m/m 0.2% 0.2% -0.1%
CAD Core Retail Sales m/m 0.4% 0.5% -0.2%
CAD Retail Sales m/m 0.5% -0.1% 0.1%
EUR Belgium NBB Business Climate -2.8 -3.5 -3.4
Previous Day
Central Bank Next Meeting Last Change Current
Interest Rate
Bank of Canada Dec 07 2010 Sep 08 2010 1%
European Central Bank Nov 04 2010 May 07 2009 1%
Federal Reserve Nov 03 2010 Dec 16 2008 0.25%
Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%
Bank of England n/a Mar 05 2009 0.50%
The Reserve Bank of Australia n/a May 04 2010 4.50%
Bank of Japan n/a Oct 05 2010 0%
Major Central Banks Overview
Division of National Bank of Pakistan (NBP)KARACHI, October 22,2010 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:
Period AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD USD/CAD USD/CHF
1 week 0.96 0.68 -0.16 0.97 0.93 0.96 -0.98 -0.97
1 month 0.96 0.91 0.96 0.58 0.86 0.95 -0.83 -0.98
3 months 0.92 0.34 0.96 0.81 0.85 0.91 -0.85 -0.82
6 months 0.93 -0.24 0.63 0.39 0.84 0.89 -0.65 -0.84
1 year 0.51 0.74 0.84 0.88 0.88 0.54 0.24 -0.63
2 years 0.38 0.48 0.51 0.77 0.75 0.40 -0.26 -0.63
Currencies CorrelationEUR/USD
NEW YORK: The dollarwas on track on Friday tosnap a five-week losingstreak against major curren-cies as traders took profitsahead of any statement froma meeting of global financeministers and the euro repeat-edly ran into technical resist-ance above $1.40.
Uncertainty over the out-come of a G20 meeting, whereexchange rate policies werebeing discussed, promptedinvestors to moderate their dol-lar selling until the gathering inSouth Korea ends over theweekend.
While traders would not ruleout another lurch lower for theUS currency, they said extremebets against the greenbackpointed to a correction. Thedollar has lost some 7 per centagainst a basket of major cur-
rencies during a five-weekswoon.
Though little changedagainst the euro and yen onFriday, the dollar index was up0.7 per cent since Monday,
aiming for its first weekly gainsince mid-September.
"The dollar has fallen quiterapidly over the last month orso, and positions are somewhatextended, and we saw the tideturning a bit this week," saidNick Bennenbroek, currencystrategist at Wells Fargo inNew York.
Over the medium term, thedollar still looks like it's fight-ing an uphill battle, traderssaid. The US Federal Reserveis expected to announce moremonetary easing next month,
likely through direct purchasesof US Treasury debt, whileeuro-zone governments areplanning to tighten fiscal andmonetary policy, making theeuro more attractive to inven-tors.
But eventually growth differ-entials may shift in the dollar'sfavor if Fed policy perks up the
economy in early 2011, just aseuro-zone governments beginto slash spending and raisetaxes to get public spending inorder.
Though the euro is up some10 per cent against the dollarsince September, it has failedto hold ground for long on sev-eral occasions above $1.40.
On Friday it was littlechanged at $1.3915, off a ses-sion peak of $1.3973. The dol-lar was up 0.1 per cent at 81.44yen, not far from a 15-yearlow.
Still, some analysts saidthere's room for more eurogains in the short term, particu-larly if leaders from the Groupof 20 rich and emergingnations fail to make any head-way on currency disagree-ments at a meeting SouthKorea. -Reuters
Dollar index heads for firstweekly gain in five weeks
Swiss francedges lower
ZURICH: The Swiss francticked lower on Friday astraders eyed the meeting of G-20 leaders in South Korea forsigns of agreement onexchange rate policies.
The franc was some 0.3 percent softer against the eurocompared to the New Yorkclose, trading at 1.3508 francsper euro at 0710 GMT. Thefranc dipped 0.1 per centagainst the dollar to 0.9685 perdollar.
In a letter sent to G20 meet-ing in South Korea and seen byReuters, US Treasury secretaryTim Geithner said G-20 coun-tries should avoid exchangerate policies designed toachieve competitive advantageby either weakening their cur-rency or preventing the appre-ciation of an undervalued cur-rency.
And Canadian finance minis-ter Jim Flaherty said the G-20meeting aims to draft an actionplan to fix global imbalancesthis weekend. -Reuters
SHANGHAI/HONG KONG:Spot yuan closed down againstthe dollar on Friday, recordingits first weekly fall since earlySeptember, after the People'sBank of China fixed a weakermid-point in a clear signal thatBeijing wants a temporarypause in the yuan's recentappreciation.
Offshore dollar/yuan for-wards rebounded sharply toimply less yuan appreciation asinvestors took profits ahead ofweekend meetings of G20finance ministers in Gyeongju,South Korea. The Chinese cen-tral bank needs to ward offexpectations of yuan apprecia-tion after it unexpectedly raisedofficial deposit and lendingrates on Tuesday, a move that islikely to invite capital inflowsat a time when the UnitedStates is considering taking fur-ther quantitative easing steps.
With 10 weeks to go till theend of this year, equity and
bond flows into emerging mar-kets have already exceeded thetotal in 2009, fund trackerEPFR Global said in a note.China has been one of thehottest destinations for globalfund flows as its economicgrowth has far outperformedmajor global counterparts.
The yuan closed at 6.6590against the dollar on Friday,down from Thursday's close of6.6504, after the PBOC set aweaker mid-point of 6.6759from Thursday's 6.6695.
The Chinese currency lost0.27 per cent this week, thefirst weekly decline since theweek ending Sept. 5.
Offshore, benchmark one-year dollar/yuan non-deliver-able NDFs rebounded to6.4680 from Thursday's6.4260, with their implied yuanappreciation in a year's timedropping sharply to 3.21 percent from 3.79 per cent. -Reuters
Yuan scores 1st wklyfall since early Sept
WELLINGTON/SYDNEY: The Australiandollar rose against a broadly softer greenback onFriday, bolstered by stop-loss buying as G20finance ministers met, although players doubtthe meeting will solve questions of currencydepreciations.
The Aussie rose to a high of $0.9839 from$0.9783 late in New York, marking a still slim56-point trading range on the day, comparedwith ranges well above 100 points seen most ofthis week. "We've had quite reasonable rangesduring the week and a lot of the order bookshave been cleared out. People are sitting on theirhands a bit unless something punchy comes outof the G20 this weekend," said Philip Burke, achief currency trader at JPMorgan.
A late burst higher in the Aussie came as thedollar eased after US Treasury SecretaryTimothy Geithner said in a letter to G20 financechiefs that nations with undervalued currenciesshould neither try to weaken them or stand in theway of gains.
Earlier in the week, the Aussie dollar droppedto $0.9663 from $0.9961 after China's first ratehike in nearly three years on Tuesday spookedinvestors and raised fears that tighter policy therewill hurt demand for Australian commodities.
Data on Friday showing Australia's exportprices surged for a second straight quarter wasalso positive for the currency, although therewas little reaction to the figure.
"The Aussie obviously has great fundamen-tals and it's a fairly well known story. The mar-ket today barely blinked when we got moredemonstration of that," said Grant Turley, ananalyst at ANZ.
Meanwhile, the New Zealand dollar was upnear a third of a cent on the day at $0.7492.
Solid support for the kiwi remained atWednesday's low of $0.7426, with resistancestarting at $0.7500.
The Aussie crawled higher against the Kiwi tobe at NZ$1.31, still well within familiar rangesof the past month. -Reuters
Australian & NZ dollars firmin choppy trade; G20 eyed
BANGKOK: The SouthKorean won and the Singaporedollar rose on Friday after USTreasury Secretary TimothyGeithner urged G20 membersto avoid a currency war, butthere was little reaction in otherAsian currencies.
Geithner said in letter to aG20 finance ministers' meetingin South Korea that the group'smembers should refrain fromcurrency policies aimed atgaining a competitive edge.
The won shot up to 1,122.6per dollar in afternoon tradeafter his remarks from 1,135.0earlier. The Singapore dollarfirmed to 1.2974 per dollarfrom 1.3009 in the morning and1.3020 late on Thursday. Thereaction in other Asian curren-
cies was more modest.The South Korean won ral-
lied after Geithner urged G20countries not to weaken or pre-vent appreciation of underval-ued currencies. The remarksprompted investors to short thedollar.
The Malaysian ringgittrimmed its losses in the after-noon, when the spot rate wasquoted at 3.1055 per dollar,against 3.1095 in the morningand 3.1045 late on Thursday.
"If there is no solid discus-sion from the G20 meeting, Ithink the market will continueto sell the dollar next week," adealer in Kuala Lumpur said.
The ringgit has appreciated10.2 per cent against the dollarthis year. The Thai baht eased
to around 29.88 per dollar insluggish trade while the marketwatched for statements comingout of the G20 meeting.
"We don't expect any mean-ingful results from the G20meeting in terms of changingthe bearish dollar outlook. It isbasically a US-China conflict.After expected pledges againstmarket intervention, mostmembers of the group willprobably return to steering theircurrencies in favour of theireconomies," a dealer at a Thaibank said.
Dollar/baht was bid at 29.87 at0700 GMT against 29.83 late onThursday. The baht has gained11.6 per cent this year, making itthe second-strongest Asian cur-rency after the yen. -Reuters
Asian currencies
Won, Singapore dollar riseafter Geithner’s remarks
LONDON: Sterling slippedagainst the euro on Friday,closing in on a near seven-month low as the pound stayedon the back foot after Bank ofEngland minutes earlier in theweek suggested more quantita-tive easing may be in store.
But losses were capped asinvestors anticipated the out-come of a Group of 20 finance
ministers meeting, while somein the market believed thatrecent selling pressure on theUK currency had run its coursefor the moment.
Weak UK retail sales data onThursday had knocked thepound through 89 pence pereuro, as it leant weight to theview that Britain's economicrecovery is faltering, just afterthe government outlineddetails of painful budget cutsthis week.
The data followed the releaseof Bank of England minutes on
Wednesday which showed onepolicymaker, Adam Posen,calling for a resumption ofstimulus through quantitativeeasing.
In late London trade, the eurowas up slightly on the day at88.70 pence after climbing ashigh as 88.89 pence, boostedafter a stronger-than-expectedGerman IFO survey.
At the same time, 89.00pence was also seen as a resist-ance level as that was where atrendline, drawn through the2008 high of 98.05 pence and94.13 pence hit in October2009, lay on Friday.
The pound slipped a touch to$1.5690, hovering near a one-month low of $1.5650 hit onWednesday. It is poised to endthe week 1.7 per cent lower, asthe dollar has risen on shortcovering following hefty lossessuffered in the past month. -Reuters
Stg slips, weighedby BoE QE view
Taiwan $down onsuspected
cbank sellingTAIPEI: Suspected centralbank selling pushed the Taiwandollar lower on Friday, revers-ing gains earlier in the day asG20 finance ministers soughtto defuse growing global cur-rency tensions.
The Taiwan dollar ended atT$30.91 per US dollar, com-pared with its Thursday closeof T$30.869.
It had edged up earlier in thesession after US TreasurySecretary Timothy Geithnerurged G20 members not toweaken their currencies or keepthem undervalued.
But many leaders at the meet-ing in South Korea dismissed aflurry of US proposals, raisingquestions about whether themeeting would yield any sub-stantive agreement and pushingthe US dollar down broadly inmidday trade.
"This week Geithner said thathe believes in a 'strong dollar,'"Morgan Stanley wrote in anote.
"It is unlikely that the mar-kets are going to take him at hisword just yet," Morgan Stanleysaid. -Reuters
Geithner urges G20 not to use FX for economic advantage
Disclaimer:All reports and recommendations have been prepared for your information
only. Summary and Analysis are not recommendation to buy or sell. This
information should only be used by investors who are aware of the risk inher-
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presented have been obtained from sources believed to be reliable, but their
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International and its employees are not responsible for any loss arising from
use of these reports and recommendations.
Savingenergy in
supply declineEnergy supply in the country seems to be
falling short of demand. Since supply cannot be increase for the time being energyconservation can help in containing outages.Unless consumers make concerted efforts tominimize the wastages and also make con-certed efforts to conserve energy and opti-mize utilization of energy products the inci-dence of outages will not be possible
However, the mindset of managements ofgas distribution companies and electricutilities seems polls apart. The behavior ofelectric utilities and banks appears con-trary. According to defunct PakistanElectric Power Company issues a noticealmost on daily basis and expects the con-sumers to adjust their plans. The statedshortfall on Thursday rose to around3,000MW against earlier shortfall of2,000MW putting the economic activitiesat halt both on commercial and domesticfronts. Reportedly power generationremained 12,106MW against a consump-tion of 14,998MW, creating a shortfall of2,892MW. Meanwhile, power generationthrough hydel stood at 5,157MW, followedby 1,801MW thermal, 5,086MW IPPs and62M of RPPs. Supply to KESC remained700MW against 770MW a day earlier.While no explanation was provided for therising shortfall, one could only attribute itto running of thermal power plants at lowercapacities, in an attempt to save fuel cost.
As against this the attitude of the manage-ment of Sui Southern Gas Company (SSGC)looks more professional. Supply of gas fromone of its major gas fields, Zamzama isscheduled to close for annual turnaround for9 days. SSGC gets 204mmcfd gas from thisfield and supplies have to be curtailed.Though, no official notice of gas curtailmenthas been issued, a lot will depend how theconsumers respond to the call.
While no notice of closure of CNG stationshas been issued, SSGC has requested mem-bers of major trade associations representingindustries mostly located in Karachi to vol-untarily curtail gas consumption up to 20 percent. The associations approached are 1)SITE Association of Industry 2) KorangiAssociation of Trade &Industry, 3) LandhiAssociation of Trade and Industry, 4) F. B.Area Association of Trade and Industry, 5)North Karachi Association of Trade andIndustry and 6) Bin Qasim Association ofTrade and Industry.
It may also be recalled that lately whenev-er any gas field is closed SSGC requests itconsumers to conserve gas and the practicehas helped in containing load shedding ofgas. Therefore, other utilities, particularlythe Karachi Electric Supply Company(KESC) should also take the consumers inconfidence for effective load management.
4Saturday, October 23, 2010
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
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The Financial Daily InternationalVol 4, Issue 79
Pakistan is being keptout of efforts by theAfghan government
and the United States toend nearly a decade of warwith the Taliban, whichcould be a sign ofWashington's mistrust ofIslamabad's intentions.
Nato and Afghan officialshave confirmed prelimi-nary contacts betweenPresident Hamid Karzai'sgovernment and theTaliban, whose leadershipis based in Pakistan's north-western frontier provinceand the Baluchistan capitalof Quetta.
Pakistan's sway over theinsurgents makes it a keyally for Washington in itsattempts to stabiliseAfghanistan, butIslamabad's reluctance tocrack down on what it seesas insurance in any Afghansettlement has also angeredthe United States.
"We haven't been consult-ed or informed or asked tofacilitate any talks. We arenot in the loop," a seniorPakistani security officialtold Reuters on conditionof anonymity.
Other officials said theywere aware of these con-tacts but they had not beentaken into confidence aboutanything.
The Obama administra-tion is under pressure toshow successes inAfghanistan ahead of aDecember strategy reviewand the planned start of atroop drawdown set tobegin next July.
Analysts say Nato 'sfacilitation of the Afghantalks without involvingPakistan could be aimed atpressuring it into takingtougher action against themilitants who fuel violencein Afghanistan from theirPakistani sanctuaries.
"Perhaps this is anotherattempt byNato to senda warningmessage toPakistan thatunless itadheres moreto Nato 'sline, Pakistancan bee x c l u d e dfrom thesetalks," saidA h m e dRashid, ajournalist andexpert onIslamist mili-tancy.
The US forces havestepped up a military cam-paign in Afghanistan andalso intensified missilestrikes by pilotless droneaircraft andh e l i c o p t e rincursions onm i l i t a n t s 'safe havenson theP a k i s t a n iside of theborder.
Such astrike thismonth, inwhich two Pakistani sol-diers were killed, infuriatedPakistan and led it to shut
down a supply route forNato, while militants andgunmen attacked convoysalong the second mainroute.
Although Pakistan isofficially an ally in Nato'scampaign against militancyin Afghanistan, it has beenaccused of playing a dou-
ble game by covertly sup-porting activists fightingthere.
The Pentagon this monthexpressed concern that
some elements ofPakistan's Inter-ServicesIntelligence (ISI) agency
had interactions with theinsurgents that "may beseen as supporting terroristgroups rather than goingafter them".
UNREALISTICAPPROACH
Pakistani officials, meet-ing in Washington thisweek for a "strategic dia-
logue" whereAfghanistanis likely toloom large,are adamantthat peace inAfghanistanis not possi-ble withoutI s l amabad ' shelp.
" N o t h i n gcan be donewithout usbecause weare part ofsolution. Weare not partof the prob-
lem," Prime Minister YusufRaza Gilani told reporterslast week.
Another security officialwas more blunt.
"Without Pakistan or theISI, it's not going to work.... Let them try their
options," he told Reuters.Ahmed said Pakistan had
a "lot of cards" to scuttleany efforts to end war inAfghanistan.
"The most significantcard is that all main Talibanleaders ... are living inPakistan and Pakistanis canexert pressure on them."
Pakistan could use theseleaders and their factions asbargaining chips as effortsto stabilise Afghanistangather pace and also checkthe growing influence of itsarch-rival India inAfghanistan.
But despite its dominantrole in Afghanistan, there isa limit to Pakistan's influ-ence over Taliban as well,analysts say.
"The Taliban will takecare of Pakistan's interestsbut not at the cost of theirown interests. This is veryclear because it will dam-age their credibility amongAfghans," said RahimullahYusufzai, an expert on trib-al and militant affairs. "ISIalso knows this and it willnot put too much pressureon the Taliban."
Rashid said Pakistan'srole was crucial in shapingup a final settlement to theAfghan problem, but itshould also address con-cerns of the internationalcommunity.
"The Pakistan militaryshould show more under-standing of the interests ofother regional countries inAfghanistan. I don't thinkit's happening right now."-Reuters
Pakistan kept in the darkabout Afghan peace contacts
Shabbir Kazmi
To be futuristic in approachone should havecomplete compre-
hension of past and presentto workout the emergingtrends. Countries termeddeveloped have notachieved all this overnight.They defined nationalobjectives, prepared sup-porting policies and thenworked hard to attain thetargets. However, the situ-ation seems contrary inPakistan. The successivegovernments are oftenblamed for the dismaldevelopment but can theindividuals say they did enoughbut failed in achieving the desiredtargets. While good nations keepon raising the bars, most of ourtime is spent on rationalizing thefailures.
Pakistan suffers from some con-tentious issues that include, mount-ing budget deficit, widening tradegap and declining purchasingpower of people. Bulk of Pakistan'sannual budget is eaten up by debtservicing and least is spent on edu-cation, healthcare and infrastruc-ture development. The outcome ismore and more people beingpushed below the poverty line; donot look at the rising per capitaincome by purchasing power ofpopulation at large.
Over the last two decades the sin-gle largest factor affecting coun-try's growth has been 'mountingenergy deficit'. The problembecome too much to bear becauseelectricity and gas tariffs are on therise so are the outages. In simplestwords Pakistan's economic man-agers have failed in estimating thegrowing demand as well as comingup with right policies to facilitate
creation of new power plants andexpedite oil and gas explorationactivities. While electricitydemand has been increasing ataround 10per cent per annum therehas been no corresponding increasein power generation.
Every one blames rising prices ofcrude oil for the hike in electricitytariff, but even NEPRA seems leastbothered about raising transmissionand distribution (T&D) losses. Itwill not be wrong to say that the
authority created to protect the inter-est of all the stakeholders, is patron-izing inefficiencies of the electricutilities and penalizing those cus-tomers paying their bills. Tariffs arebeing raised to improve cash flow of
the electric utilities but Nepraalways condone T&D losses, whichmostly comprises of rampant elec-tricity theft going on in connivancewith the staff of utilities.
One tends to rank Ogra highercompared to Nepra on one point,penalizing gas distribution compa-nies for not meeting the UFGbenchmark. Though, profit of gasmarketing companies is guaran-
teed, imposition of penalty reducedthe profit. SSGC's had to pay aboutRs3 billion penalties as its actualUFG was about 8per cent com-pared to the benchmark fixed at5per cent. Why can't Nepra adopt apolicy of fixing T&D loss bench-mark and impose penalty for notmeeting it? According to expertsT&D losses of KESC should not bemore than 5per cent, whereas itsactual T&D losses exceed 40percent.
It may be true thatregulatory authoritieshave failed in protect-ing the interest of con-sumers but the blamealso goes to the con-sumers for not makingany attempt to stopthese authorities frommaking bad decisions.Every time beforeallowing tariff increaseboth the authoritiesconduct public hearingbut the response fromentities is lackluster.Many of the associa-
tions claiming to be the custodiansof consumer rights/protection oftenappear in the hearing but play ofrhetoric rather than hard facts.Utilities win mainly because gov-ernment is still the biggest stake-
holder in Wapda, Pepco, SSGC,SNGPL, PSO, OGDC and PPL.
Agriculture has about 25per centshare in GDP and its contributioncan be increased simply by achiev-ing higher yield of major cropswithout bringing additional areaunder cultivation and simplythrough better crop management.This includes using certified seeds,applying appropriate dosage of fer-
tilizer and water and spraying pes-ticides and insecticides at the righttimes. However, to do all this farm-ers must have the knowledge. Thiscan be done best by agricultureresearch institutes, fertilizermanufacturing companies andpesticides and insecticides market-ing companies.
Pakistan has not been able toexploit the advantage of beingamong the top five cotton produc-ing country. It is mainly becauseaverage cotton yield achieved inPakistan is very low compared toglobal average. Cotton staple isdamaged to a large extent becauseof using obsolete technologies inginning factories. Spinning millsare still using outdated spindlesand rotors. Weaving is done ofpower looms rather than usingmodern looms. Dying is notaccording to global standards.Productivity of workers in the gar-ments and made up units is nearlyone-third of the productivity of theworkers in the neighboringcountries.
All these inadequacies arebecause of paying least attentionon education, staring from primaryto higher and professional educa-tion. Every year thousand of grad-uates are produced completelydevoid of the skills needed. Manyof the experts are jubilant of risingremittances but complete ignorethe fact that this money is beingsent by the unskilled or semiskilled workers rather than profes-sionals. They talk about remit-tances getting close to US$10 bil-lion but hardly look at Bangladeshwhich plans achieving US$30 bil-lion target over the next five years.
Though, some of the critics aretalking about brain drain threat butforget that huge population is thebiggest resource of Pakistan.Education and vocational trainingof masses will not only improvethe quality of available man powerbut also help earning extra remit-tances and bringing down unem-ployment in the country.Government should allocate moreon education and also ensurespending the budgeted amounts.Educated Pakistan is the solutionfor achieving progress.
Economic decisionsnot knowledge-based
Agriculture has about 25per cent sharein GDP and its contribution can be
increased simply by achieving higheryield of major crops without bringingadditional area under cultivation and
simply through better crop management
Although Pakistan is officially an allyin Nato's campaign against militancyin Afghanistan, it has been accused of
playing a double game by covertlysupporting activists fighting there.
Over the last two decadesthe single largest factor
affecting country's growth hasbeen 'mounting energy deficit'.The problem become too muchto bear because electricity and
gas tariffs are on the rise soare the outages
“
Nato and Afghan officialshave confirmed prelimi-
nary contacts betweenPresident Hamid Karzai's
government and the Taliban,whose leadership is based in
Pakistan's northwesternfrontier province and the
Baluchistan capital of Quetta
“
FERTILISER000 tonnesUrea Offtake (Jan to July 10) 3,565Urea Offtake (July 10) 580Urea Price (Rs/50 kg) 879DAP Offtake (Jan to July 09) 374DAP Offtake (July 10) 49DAP Price (Rs/50 kg) 2,626
AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 09 to June 10) 71,998
Sales (July 09 to June 10) 73,993
Production (July 10) 7,509
Sales (July 10) 4,503
INDUS MOTOR COProduction (July 09 to June 10) 50,557
Sales (July 09 to June 10) 50,823
Production (July 10) 5,162
Sales (July 10) 4,999
HONDA ATLAS CARProduction (July 09 to June 10) 13,500
Sales (July 09 to June 10) 14,120
Production (July 10) 1,560
Sales (July 10) 1,272
DEWAN FAROOQ MOTORSProduction (July 09 to June 10)1,218
Sales (July 09 to June 10) 1,371
Production (July 10) 41
Sales (July 10) 40
BANKING SECTORScheduled bank (Rs in mn)Deposit (August 20,10) 4,595,176
Advances (August 20,10) 3,304,533
Investments (August 20,10) 1,788,671
Spread (July 2010) 7.51%
OIL MARKETING CO(000 tons)MS (Jul 09 to June 10) 1,933
MS (July 10) 188
Kerosene (Jul 09 to June 10) 164
Kerosene (July 10) 15
JP (Jul 09 to June 10) 1,377
JP (July 10) 129
HSD (Jul 09 to June 10) 7,435
HSD (July 10) 664
LDO (Jul 09 to June 10) 75
LDO (July 10) 7
Fuel Oil (Jul 09 to June 10) 9,259
Fuel Oil (July 10) 869
Others (Jul 09 to June 10) 13
Others (July 10) 1
PRICES (Ex-Refinery) RsMS (1 Sep 10) 40.85
MS (1 Aug 10) 41.22
MS % Chg -0.90%
Kerosene (1 Sep 10) 47.14
Kerosene (1 Aug 10) 46.55
Kerosene % Chg 1.27%
JP-1 (1 Sep 10) 47.37
JP-1 (1 Aug 10) 46.78
JP-1 % Chg 1.26%
HSD (1 Sep 10) 50.61
HSD (1 Aug 10) 49.63
HSD % Chg 1.97%
LDO (1 Sep 10) 46.37
LDO (1 Aug 10) 45.29
LDO % Chg 2.38%
Fuel Oil (1 Sep 10) 39,932
Fuel Oil (1 Aug 10) 39,723
Sector Updates
Symbol Close Vol (mn)NPL 13.30 10.12 AMTEX 7.49 9.93 LOTPTA 10.25 8.54 JSCL 10.25 8.12 LPCL 3.57 7.85
Symbol Close ChangeCOLG 782.45 31.45 BATA 514.95 24.52 MTL 482.98 21.01 SRVI 231.57 11.02 FZTM 376.88 10.93
Symbol Close ChangeULEVER 4,000.02 -74.99SHEL 188.49 -5.43LAKST 342.53 -5.37PSEL 150.00 -4.5SAPT 90.05 -4.01
Plus 239Minus 125Unchanged 20
Top 5 Volume Leaders
Major Losers
Major Gainers
KSE-100 Index
LSE-25 Index
ISE-10 Index
Active Issues
Mostly higher asManila sets all-time high
Saturday, October 23, 2010 5
Opening 10,558.74
Closing 10,652.48
Change 93.74
% Change 0.89
Turnover (mn) 160.34
Opening 3,285.27
Closing 3,321.49
Change 36.22
% Change 1.10
Turnover (mn) 8.07
Opening 2,675.69
Closing 2,700.87
Change 25.18
% Change 0.94
Turnover (mn) 0.17
ANNOUNCEMENTS
Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)
Rupali PolyesterXD 1st Qtr - 67.676 1.99
Shell Pakistan XD 3rd Qtr - -11.513 -0.17
Packages Limited 3rd Qtr - 123.049 1.46
Stand.Chart.Leasing 1st Qtr - 12.209 0.12
P.N.S.C. XD(Consolidated)1st Qtr - 351.557 2.66
P.N.S.C. XD 1st Qtr - 30.134 0.23
Bal.Wheels Ltd.XD 1st Qtr - 17.812 1.33
Dreamworld 1st Qtr - 1.206 0.04
Nestle Pakistan Ltd. 3rd Qtr 250%(ii)(D) 3096.311 68.28
Imrooz Mod XD 1st Qtr - 4.122 1.37
Dawood Lawrencepur 3rd Qtr - 32.698 0.64
Dawood Lawrencepur 3rd Qtr - 355.476 (CS) 6.92
Sitara Peroxide 1st Qtr - 12.836 0.23
Bawany AirXDXR 1st Qtr - 0.235 0.03
D.M.Textile 1st Qtr - -23.005 -7.54
South East Asian stocks
European stocks slipeyeing G20 talks
Nawaz Ali
KARACHI: Buying by theforeign and local institutionalinvestors took the benchmarkindex close to 6-months high.Buying euphoria at Karachistock exchange was driven onthe expectations of good cor-porate results, hopes of suc-cessful outcome of the Pak-USstrategic dialogues and on eas-ing political and security vul-nerability.
The benchmark KSE-100index closed at 10,652 pointsafter gaining 93 points. This wasthe highest level of the indexsince April 20 this year whenindex closed at 10,642 points.
The KSE 30-index was up104 points to close at 10,250points and KSE all-share index
gained 64 points to close at7,414 points.
"Positive activity was wit-nessed in scrips across the boardwith rising volumes in Oil,banking and fertilizer scrips asinvestor await major earningannouncements next week", saidAhsan Mehanti, Director ArifHabib Investments.
Bullish sentiment can belinked to better understandingbetween Judiciary and execu-tive post Supreme Court ver-dict on 18th Amendment.There was also some sort ofconsensus on restoration ofpeace in the city.
The day started on a negativenote but bears didn't stayed forlong and index entered positivezone soon and stayed there restof the day on continued buying
by the local and foreign institu-tional investors over expecta-tions of some good corporateresults to be announced in thecoming days.
It should be noted that Oil &Gas Development Company,Engro Corporation, FaujiFertilizer Company, UnitedBank Limited and Hub PowerCompany are the major com-panies that will announce quar-terly results next week.
The improved law and ordersituation in the city and easedtension between governmentand judiciary too attracted theinvestors' attention towards themarket. On the other side,investors were anticipationsuccess of the ongoing strate-gic dialogues between Pakistanand the United States.
Therefore index managed toclose the first session at 111points up.
"Anticipation of success inthe ongoing strategic dialoguein US, mainly on the release ofpreviously committed CSFamount, was indeed a triggerfor the market", said an equitydealer at a local brokeragehouse.
Bullish activities were fur-ther increased after the com-mencement of second sessionat about 2:51 PST indextouched an intra-day high of10,708 points (+ve 149 points).However, the last day phobiacame into action as investorspreferred to book profits athigher levels. This pushed theindex a little low but still man-aged to close above 10,600
levels.Foreigners' interest improved
as according to NCCPL datathere was a net foreign buying of$1.02 million on Friday. On thelocal side; companies and mutu-al funds did a net buying of$3.19 and $2.32 million respec-tively while banks emerged netseller with $4.91 million.
Investor participationremained impressive through-out the day as 160.3 millionshares traded in the overallmarket which were 6.5 millionshares more as compared to aturnover of 153.8 millionshares exchanging hands onThursday.
Out of total 384 activeissues; 239 advanced and 125declined while 20 issuesremaining unchanged.
KSE’s top index touchesintraday high of 10,708pts
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US stocks mid-day
Nasdaq rises,S&P-500 flat
New York: Technology sharesedged higher on Friday asresults from Baidu Inc andSanDisk bolstered the outlookfor the sector, while the broadmarket was little changed.
Keeping investors skittishwas a Group of 20 nationsmeeting that sought a commonpath to manage global trade,currency and macroeconomicimbalances.
SanDisk, a maker of flashmemory, gained 1 per cent to$37.50 and Baidu, the ChineseWeb search engine, rose 4.5 percent to $107.07, a day afterboth companies posted results.
Also among tech gainerswere shares of online retailerAmazon.com Inc, whichadvanced 2 per cent to $168.19after Wall Street analysts raisedtheir price targets on the com-pany, even as Amazon gave adisappointing forecast onThursday.
"A lot of (tech) companieshave really restructured intoreally strong balance sheetsand, I think, are in a prolongedperiod of either acquiring ordeveloping new assets," saidSubodh Kumar, chief invest-ment strategist for SubodhKumar & Associates inToronto.
The Dow Jones industrialaverage was down 33.76points, or 0.30 per cent, at11,112.81. The Standard &Poor's 500 Index was down0.11 point, or 0.01 per cent, at1,180.15. The NasdaqComposite Index was up 10.21points, or 0.42 per cent, at2,469.88.
Technology led gains in therecent rally, and the NASDAQis up 17 per cent since the endof August compared with theS&P 500, which is up 12.6 percent.
Early reports fromTechnology companies havegiven a mostly rosy picture ofthe sector's future, includingGoogle's much stronger-than-expected earnings a week ago.Baidu late Thursday gave arobust outlook for its business.
The S&P 500 sent a bullishsignal as the index's 50-daymoving average crossed aboveits 200-day moving average,known as a golden cross. Thatupward momentum indicatorlast occurred in June 2009, andthe benchmark index rose morethan 35 per cent in the follow-ing 10 months.
The bullish signal can't becounted on always to signal anup market, according to ChrisBurba, short-term market
See # 4 Page 11
TOKYO: Japan's Nikkei rose0.5 per cent on Friday in arebound after two days of loss-es, but investors were wary ofpushing the market higherbefore seeing the outcome of aGroup of 20 meeting and withthe yen hovering near a 15-yearhigh on the dollar.
But with the earnings seasonheading into full swing inJapan, investors snapped upshares of companies that hadupbeat earnings prospects,such as Hitachi, helping pro-vide support to the overall mar-ket.
G-20 officials started theirformal meetings on Fridaywith nations from the develop-ing world and Japan dismissingthe US proposals to set limitson current account balances inan effort to defuse tensionsover currencies.
"As more earnings start tocome out, investors haveenough trading factors for indi-vidual companies and that'sbecome the main driver in themarket," said YoshikiyoShimamine, chief economist atDai-ichi Life ResearchInstitute.
"But Japanese stocks as awhole haven't found a cleardirection ahead of a series ofimportant events such as the G-20 and the Federal Reserve'spolicy meeting. If these eventsend up driving the dollar to
become even weaker, thatwould be negative for stocks."
In light trade, the benchmarkNikkei ended the day up 50.23points at 9,426.71, after mark-ing its lowest close in threeweeks on Thursday.
The index shed 0.8 per centon the week, weighed down bya fall of nearly 2 per cent onWednesday after China unex-pectedly tightened credit.
But the Nikkei managed toend the week above its 13-week moving average, now at9,383, which has served as sup-port since September.
Resistance looms at its 26-week moving average, now at9,630, which has held down theNikkei for about five months.
The broader Topix advanced0.6 per cent to 824.88.
The yen edged up to 81.12against the dollar, still near a15-year high of 80.84 hit onEBS on Wednesday.
Trade was light on the Tokyoexchange's first section, with1.49 billion shares changinghands, near its lowest volumesince late September that it hiton Monday.
Advancing stocks outnum-bered decliners by more than 2to 1.
After the close, tire makerBridgestone Corp said it is tar-geting an operating profit of280 billion yen ($3.44 billion)
See # 3 Page 11
Nikkei inches upeyeing G20 summit
LONDON: Weakness inheavyweight miners pulledBritain's leading shares loweron Friday, with trading choppyand volumes light, as investorsawaited news from a Group of20 nations meeting in SouthKorea.
At the close, the FTSE-100was 16.49 points, or 0.3 percent, lower at 5,741.37,retreating after hitting a six-month closing high in the pre-vious session.
Miners were among theworst blue chip performers onworries over whether financialleaders at the G-20 meetingwill agree on countering cur-rency imbalances, which havebeen lifting the dollar anddepressing metal prices.
"The market has really beenheld back by uncertaintyahead of the meeting with thewhole business of QE2 (quan-titative easing) in the back-ground," said David Morrison,market strategist at GFTGlobal.
"Ultimately we have toworry about currency move-ments, with the stock marketinversely correlated to the dol-lar, being hostage to the min-ers and metal prices."
BHP Billiton shed 0.5 percent. The Canadian provinceof Saskatchewan, home toPotash Corp, said it opposedBHP's $39 billion bid to buythe fertilizer supplier, settingthe stage for a politicallycharged final decision by thecountry's federal government.
Vedanta was a top faller
among the blue chip miners,down 1.9 per cent as MerrillLynch downgraded its ratingfor the Indian-focused firm to"neutral" from, "buy".
Oil services firm Petrofaclost one per cent after BofAMerrill Lynch downgraded itsrecommendation to "neutral"from "buy" on valuationgrounds.
Reckitt Benckiser was thetop FTSE-100 faller, down 4.6per cent after the consumerproducts group said its chieffinancial officer Colin Daywould leave the company inMarch 2011.
U.S. blue chips were 0.2 percent lower by LONDON'sclose with investors skittishahead of the G-20 meetingoutcome.
ENERGY BOOSTEnergy issues provided the
main underlying strength forblue chips on Friday as crudeprices bounced higher, withRoyal Dutch Shell adding 0.3per cent.
BG Group gained 0.8 percent after Australia gave envi-ronmental approval to twocoal-seam gas projects worthabout $30 billion, led by BGand Santos.
TUI Travel was the bestFTSE-100 riser, rallying 3.2per cent after shedding morethan 11 per cent on Thursdaywhen it revealed its financechief would quit and restatedits 2009 accounts as a result ofwhat it said was a post-mergertechnical glitch.
See # 1 Page 11
FTSE weakerahead of G20 moot
MUMBAI: Indian sharessnapped a two-week losingstreak but closed Friday 0.5 percent lower on weak world equi-ties and as traders turned cau-tious on near-term outlook.
Top outsourcer TataConsultancy Services rose asmuch as 6.7 per cent to a recordhigh of 1,049.90 rupees, afterbeating September-quarterearnings estimate, while rivalWipro shed as much as 5.4 percent as it lagged forecast.
The 30-share BSE index shed0.47 per cent or 94.72 points to20,165.86, with 22 of its compo-nents closing in the red. It rose0.2 per cent on the week.
"The market may be formingan intermediate top," saidSandip Sabharwal, CEO of port-folio management services atbrokerage Prabhudas Lilladher,who did not rule out a small cor-rection in near future.
"More or less, we have seendecent results. But, they arelargely turning to be a non-eventfor the broader market this time,considering the sharp run up
before the results."So far this year, foreign
funds have invested a net $23.8billion in Indian equities, driv-ing the benchmark index up15.5 per cent.
Investors shovelled in anoth-er $5.8 billion into emergingmarket funds in the third weekof October, with global emerg-ing market equity funds seeingrecord inflows for the secondtime in three weeks, fundtracker EPFR said.
India's benchmark index hasoutperformed MSCI's worldequities index and its emergingmarkets index which havegained 5.4 per cent and 11.4per cent respectively.
"We continue to believe thatwe are entering another periodof strong growth for tier 1Indian IT companies," CreditSuisse said in a note.
It raised its target price onTCS to 1,175 rupees from 940rupees and maintained an "out-perform" rating.
TCS closed 5.7 per cent high-er after the No. 1 Indian soft-
ware services company posteda near 30-per cent rise in quar-terly profit and said it expectedstrong demand for outsourcing.Infosys Technologies gained0.7 per cent.
Wipro, the third-largest out-sourcer, closed 4.5 per centlower after it missed forecastwith a 10-percent rise in sec-ond-quarter profit.
Cigarette-to-hotel businessITC shed 1.8 per cent, after ris-ing 3.7 per cent in the previoussession.
Top-listed biotech firm Bioconclosed 0.3 per cent higher as itsJuly-September net profit roseby a fifth from a year ago.
Declining shares outnum-bered advancing ones in theratio of 1.2:1, on a heavy vol-ume of 561 million shares.
The 50-share NSE indexdropped 0.6 per cent to6,066.05 points. Elsewhere, theFTSEurofirst-300 was down0.4 per cent by 1023 GMT,while the MSCI's measure ofAsian markets other than Japanwas barely changed. Reuters
Indian shares snappedtwo-week losing streak
HK, Chinashares slip
on thin tradeHONG KONG/SHANGHAI:Hong Kong and Shanghaishares slipped on Friday onlean volumes as investorslocked in gains in financialsahead of bank earnings reportsdue next week.
The Hang Seng index fell 0.6per cent to 23,517.5 on the day,producing most of the week'sone per cent decline thatmarked its first weekly dropsince the end of August. Tradewas HK$84 billion, an eighthlower than last week.
Mainland banks had been apopular buy since mid-September as investors pickedup market laggards, encour-aged by robust lending and lowvaluations.
"The surprise rate hike sort ofthrew a wrench in the works,"said Christian Keilland,Managing Director at BTIG inHong Kong, referring toChinnese central bank's sur-prise decision to raise interestrates on Wednesday for the firsttime since late 2007.
China Construction Bankshares fell 1.6 per cent andwere the biggest drag on theindex, having provided thebiggest boost on Thursday asinvestors rotated in and out ofsectors.
CCB shares have gained 10per cent in October, outper-forming the broader market bynearly two times.
Bank of China fell 2 per cent,Agricultural Bank of China fell1.2 per cent and ICBC wasdown 0.6 per cent.
Known as the "Big Four" inChina, they are scheduled toreport third-quarter earningsnext week. Bank of China isexpected to post a sequentialdecline in profits while the oth-ers are seen producing flat tohigher earnings.
China Mobile fell 0.7 per-cent, the third straight dailydecline surrounding disap-pointing earnings from theworld's biggest mobile phoneoperator.
Transport stocks, includingautomobiles and railway equip-ment makers, bucked the trend,helped by expectations thatdomestic demand in China isrising as the government triesto rebalance the economy.
China Railway Constructionrose 4.9 per cent to a 52-weekhigh, breaking out of a 2-½month trading range. GeelyAuto rose 6 per cent.
SHANGHAI LOWER,BANKS OFFSET COALThe Shanghai Composite
Index closed down 0.3 per centat 2,975.0, extending losses of0.7 per cent from Thursday,weighed down by banks andproperty stocks.
See # 2 Page 11
Saturday, October 23, 20106
Volume 160,344,624
Value 5,597,743,041
Trades 77,947
Advanced 239
Declined 125
Unchanged 20
Total 384
Current 7,414.60
High 7,452.96
Low 7,347.38
Change h64.54
Current 10,652.48
High 10,709.28
Low 10,553.54
Change h93.74
Current 10,250.08
High 10,287.76
Low 10,135.46
Change h104.98
Market KSE 100 Index All Share Index KSE 30 Index
Current 16,791.09
High 16,837.50
Low 16,598.51
Change h192.58
KMI 30 IndexSymbolsAlert ! Unusual Movements
Technical AnalysisFundamental Highlights
As on Jun 30, 2009
Chenab Limited
CHBL closed up 0.28 at 3.54. Volume was 213 per cent above average
(trending) and Bollinger Bands were 49 per cent narrower than normal.
The company's loss after taxation stood at Rs695.821 million which
translates into a Loss Per Share of Rs6.05 for the nine months of fiscal
year (9MFY10).
CHBL is currently 13.8 per cent below its 200-day moving average and
is displaying a downward trend. Volatility is relatively normal as com-
pared to the average volatility over the last 10 trading sessions. Volume
indicators reflect moderate flows of volume into CHBL (mildly bullish).
Trend forecasting oscillators are currently bearish on CHBL.
RSI (14-day) 57.60 Total Assets (Rs in mn) 16,941.26
MA (10-day) 3.34 Total Equity (Rs in mn) 2,493.88
MA (100-day) 3.58 Revenue (Rs in mn) 9,091.38
MA (200-day) 4.11 Interest Expense 1,487.71
1st Support 3.10 Loss after Taxation (96.66)
2nd Support 2.62 EPS 09 (Rs) (0.841)
1st Resistance 3.98 Book value / share (Rs) 21.69
2nd Resistance 4.38 PE 10 E (x) -
Pivot 3.50 PBV (x) 0.16
Technical AnalysisFundamental Highlights
As on Jun 30, 2009
CSAP closed down -0.08 at 25.07. Volume was 411 per cent above
average (trending) and Bollinger Bands were 62 per cent narrower than
normal. The company's profit after taxation stood at Rs416.547 million
which translates into an Earning Per Share of Rs7.38 for the year
ended FY10.
CSAP is currently 7.5 per cent below its 200-day moving average and
is displaying an upward 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 CSAP (mildly bullish).
Trend forecasting oscillators are currently bullish on CSAP.
RSI (14-day) 49.30 Total Assets (Rs in mn) 4,109.69
MA (10-day) 24.96 Total Equity (Rs in mn) 2,545.82
MA (100-day) 26.17 Revenue (Rs in mn) 3,310.87
MA (200-day) 27.08 Interest Expense 203.57
1st Support 24.90 Loss after Taxation (239.75)
2nd Support 24.70 EPS 09 (Rs) (4.246)
1st Resistance 25.40 Book value / share (Rs) 45.09
2nd Resistance 25.70 PE 10 E (x) 3.40
Pivot 25.20 PBV (x) 0.56
Crescent Steel & Allied Products Limited
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
PIAA closed up 0.10 at 2.24. Volume was 38 per cent above average and
Bollinger Bands were 59 per cent narrower than normal. The company's
loss after taxation stood at Rs6.901 billion which translates into a Loss Per
Share of Rs2.86 for the half year of current calendar year (1HCY10).
PIAA is currently 15.9 per cent below its 200-day moving average and
is displaying an upward trend. Volatility is low as compared to the aver-
age volatility over the last 10 trading sessions. Volume indicators reflect
volume flowing into and out of PIAA at a relatively equal pace. Trend
forecasting oscillators are currently bullish on PIAA.
RSI (14-day) 55.20 Total Assets (Rs in mn) 160,013.18
MA (10-day) 2.18 Total Equity (Rs in mn) (20,772.84)
MA (100-day) 2.45 Revenue (Rs in mn) 94,563.77
MA (200-day) 2.66 Interest Expense 9,243.77
1st Support 2.05 Loss after Taxation (5,822.43)
2nd Support 1.93 EPS 09 (Rs) (2.720)
1st Resistance 2.37 Book value / share (Rs) (8.92)
2nd Resistance 2.57 PE 10 E (x) -
Pivot 2.25 PBV (x) (0.25)
Pakistan International Airline Corp Ltd
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
ANL closed up 0.79 at 11.37. Volume was 276 per cent above average (trend-
ing) and Bollinger Bands were 53 per cent narrower than normal. The compa-
ny's loss after taxation stood at Rs173.754 million which translates into a Loss
Per Share of Rs0.41 for the half year of current calendar year (1HCY10).
ANL is currently 19.2 per cent below its 200-day moving average and is
displaying an upward trend. Volatility is extremely high when compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into ANL (mildly bullish). Trend forecast-
ing oscillators are currently bullish on ANL.
RSI (14-day) 66.33 Total Assets (Rs in mn) 38,525.22
MA (10-day) 10.42 Total Equity (Rs in mn) 18,469.71
MA (100-day) 10.84 Revenue (Rs in mn) 11,737.86
MA (200-day) 14.07 Interest Expense 2,424.42
1st Support 10.82 Profit after Taxation 60.53
2nd Support 10.28 EPS 09 (Rs) 0.003
1st Resistance 11.74 Book value / share (Rs) 37.85
2nd Resistance 12.12 PE 10 E (x) -
Pivot 11.20 PBV (x) 0.30
Azgard Nine Limited
OIL AND GAS
Performance of SR Oil and Gas Index
Open High Low Close Change % Change
1,334.82 1,358.29 1,330.80 1,348.22 13.41 1.00
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
9,255,097 - - 65,194.15 mn 1,063,796.67 mn 1,348.22
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
11.26 4.17 37.01 68.56 6.09 1,331.47
Attock PetroleumXDXB 691 4.55 293.86 299.66 295.00 296.07 2.21 1053941 374.20 287.99 250 - 300 20
Attock Refinery 853 18.10 97.09 100.49 97.70 99.54 2.45 2176074 100.49 73.47 - - - -
BYCO Petroleum 3921 - 10.87 11.43 10.75 11.25 0.38 3896009 12.87 9.62 - - - -
Mari Gas Company 735 17.07 125.94 128.00 125.26 125.94 0.00 95270 138.45 106.00 32.17 100B 31 -
National Refinery XD 800 5.23 210.98 212.40 210.00 210.18 -0.80 81660 230.84 183.25 125 - 200 -
Oil & Gas Development XD 43009 10.57 152.35 154.25 151.50 153.16 0.81 1247624 154.25 133.00 82.5 - 55 -
Pak Petroleum 11950 7.69 186.78 190.48 187.00 189.15 2.37 787209 214.10 168.70 130 20B 90 20B
Pak Oilfields XD 2365 6.17 236.42 244.30 236.85 243.22 6.80 3153259 251.24 213.17 180 - 255 -
Pak Refinery Limited 350 - 76.87 77.80 76.00 76.34 -0.53 22523 85.90 48.26 - - - -
PSO XD 1715 4.50 262.78 267.50 262.70 266.00 3.22 501631 289.45 233.10 50 - 80 -
Shell Gas LPG 226 17.28 38.09 39.99 36.19 38.37 0.28 27918 39.99 27.32 - - - -
Shell Pakistan XD 685 9.67 193.92 197.00 185.00 188.49 -5.43 107988 244.00 185.00 330 - 40 -
Paid up Last 60 days 2009 2010
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
925.38 941.28 924.59 936.51 11.12 1.20
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
31,783,399 - - 47,070.70 mn 117,695.73 mn 936.51
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.14 0.53 8.64 16.68 2.72 914.43
Amtex Limited XD 2415 2.00 7.03 7.69 7.02 7.49 0.46 9930037 20.45 6.71 - - 30 -
Artistic Denim XD 840 4.90 20.00 20.65 19.50 19.51 -0.49 4106 24.05 17.55 20 - 20 -
Azam Textile 133 0.52 3.00 2.98 2.75 2.86 -0.14 8701 3.23 1.35 - - 7.5 -
Azgard Nine 4493 284.25 10.58 11.58 10.66 11.37 0.79 7076994 12.81 8.55 - - - -
Bannu Woolen XD 76 0.97 11.03 12.03 10.82 11.19 0.16 3204 14.00 7.50 - - 20 -
Bata (Pak) 76 5.09 490.43 514.95 514.95 514.95 24.52 26159 560.00 436.00 120 - - -
Chakwal Spinning XD 400 0.93 1.25 1.89 1.00 1.43 0.18 536 2.59 0.70 - - 5 -
Chenab Limited 1150 - 3.26 3.90 3.02 3.54 0.28 356157 4.79 2.93 - - - -
Colony Mills Ltd 2442 2.89 2.92 3.33 3.00 3.12 0.20 908411 4.50 2.23 - - - -
Crescent Jute 238 - 0.89 0.98 0.75 0.76 -0.13 1362 1.90 0.48 - - - -
D S Ind Ltd 600 - 1.70 1.82 1.66 1.71 0.01 257775 2.49 1.44 - - - -
Dawood Lawrencepur 514 47.06 39.35 40.00 39.99 40.00 0.65 395 50.35 37.08 - - 5 -
Dewan Farooque Spin. 600 2.54 3.40 3.60 3.15 3.20 -0.20 3000 4.00 2.05 - - - -
Ellcot Spinning XD 110 1.65 18.49 19.40 17.51 19.40 0.91 155 25.45 17.21 7.5 - 35 -
Fazal Textile XD 62 3.73 365.95 384.24 347.67 376.88 10.93 443 384.24 303.00 15 - 100 -
Gadoon Textile XD 234 1.05 38.40 40.00 38.30 39.00 0.60 613 48.30 33.80 - - 70 -
Ghani Value Glass XD 75 7.29 27.86 27.70 27.70 27.70 -0.16 690 38.64 26.70 8 400R 25 -
Ghazi Fabrics XD 326 0.76 3.20 2.60 2.55 2.60 -0.60 368 5.00 1.11 - - 10 -
Gillette Pakistan 192 50.27 64.63 67.86 62.00 67.86 3.23 15115 73.00 57.50 - - - -
Gul Ahmed Textile XD 635 3.16 22.75 23.80 23.80 23.80 1.05 110 25.40 19.99 5 - 12.5 -
Gulistan SpinningSPOT 146 1.41 6.00 6.49 6.39 6.40 0.40 5310 8.13 5.00 - 10B 10 -
Gulistan TextileSPOT 190 1.61 19.89 18.89 18.89 18.89 -1.00 502 24.84 18.89 - 10B 10 -
Gulshan SpinningSPOT 185 1.76 9.30 9.80 9.30 9.70 0.40 12382 9.80 5.31 - 10B 10 20B
Hira Textile Mills LtdSPOT 716 1.38 4.32 4.88 4.30 4.79 0.47 1090388 4.88 2.52 - - 10 -
Ibrahim Fibres XD 3105 3.39 35.49 37.24 34.99 36.68 1.19 11200 39.00 34.05 - - 20 -
Ideal Spinning 99 0.63 3.44 3.50 2.85 3.25 -0.19 12850 4.79 2.02 - - - -
Idrees TextileSPOT 180 2.37 4.00 4.45 4.00 4.14 0.14 64502 5.35 2.56 - - 10 -
Ishaq Textile XD 97 1.05 4.70 5.00 4.51 5.00 0.30 218 5.50 3.90 - - 8 -
Kohat Textile 208 1.71 1.49 1.50 1.20 1.35 -0.14 5812 1.95 0.46 - - - -
Kohinoor Ind 303 - 1.46 1.60 1.50 1.57 0.11 83126 1.99 1.01 - - - -
Kohinoor Mills 509 - 2.50 2.75 1.52 2.70 0.20 2008 3.79 1.52 - - - -
Kohinoor Textile 1455 2.83 5.45 5.50 5.25 5.40 -0.05 51050 6.30 4.00 - - - -
Masood TextileSPOT 600 1.08 20.04 21.04 20.50 21.04 1.00 600 23.25 18.51 15 - 15 100R
Mian Textile 221 - 0.65 0.45 0.25 0.45 -0.20 7002 1.20 0.01 - - - -
Mohd Farooq 189 - 0.99 1.00 1.00 1.00 0.01 800 1.82 0.35 - - - -
Mukhtar Textile 145 - 0.41 0.90 0.40 0.49 0.08 1563 0.99 0.25 - - - -
Nishat (Chunian)SPOT 1586 2.63 19.78 20.78 19.86 20.78 1.00 6084296 20.78 14.64 - 50R 15 -
Nishat Mills XD 3516 6.08 50.23 52.00 50.75 51.71 1.48 4880903 53.14 40.81 20 - 25 45R
Pak Synthetic 560 6.67 5.61 6.20 5.80 6.14 0.53 25565 7.90 5.16 12.5 - - -
Paramount Spin. SPOT 158 1.50 9.55 10.50 9.55 10.25 0.70 19319 10.50 6.00 - 10B 10 10B
Prosperity XD 185 1.82 13.08 13.24 12.51 12.52 -0.56 9900 21.47 12.51 20 - 30 -
Ravi Textile 250 4.74 1.76 1.89 1.76 1.85 0.09 80939 4.69 1.38 - - - -
Rupali Poly XD 341 4.21 32.75 34.38 32.35 33.50 0.75 5182 36.75 31.35 40 - 40 -
Saif Textile 264 1.34 3.90 4.85 3.70 3.94 0.04 214 5.44 2.01 - - - -
Salfi Textile XD 33 0.13 27.15 28.50 28.50 28.50 1.35 730 28.50 20.50 - - 25 -
Sally TextileSPOT 88 0.33 5.09 5.25 5.10 5.12 0.03 25502 6.20 2.74 - - 10 -
Samin Textile XR 134 - 6.30 6.80 5.61 6.03 -0.27 8482 8.69 5.02 - - - 100R
Sana Ind XD 55 4.48 30.00 30.75 29.50 30.00 0.00 152 38.40 27.50 35 - 60 -
Sapphire Textile XD 201 1.78 94.06 90.05 90.00 90.05 -4.01 140 124.80 90.00 - - 50 -
Sargoda Spinning XD 312 0.47 1.84 2.01 1.75 1.81 -0.03 21635 2.50 0.31 - - 5 -
Service Ind 120 5.96 220.55 231.57 222.00 231.57 11.02 7175 231.57 176.00 200 - - -
Shadman Cot 176 1.99 11.90 12.90 10.90 10.95 -0.95 576 15.00 8.00 - - - -
Shahpur Textile 140 0.97 0.71 0.83 0.70 0.70 -0.01 2920 2.18 0.25 - - - -
Shahtaj Textile XD 97 - 16.79 17.70 16.00 16.41 -0.38 708 21.90 14.75 20 - 45 -
Suraj Cotton XD 180 1.07 30.89 30.51 30.00 30.00 -0.89 1700 37.50 29.50 15 - 50 -
Tata Textile XD 173 0.19 20.25 20.50 19.24 19.67 -0.58 41811 21.42 14.00 - - 25 -
Thal LimitedXDXB 307 3.89 88.99 93.43 88.60 91.12 2.13 236624 114.99 88.60 20 20B 80 20B
Treet Corp 418 9.75 45.05 47.30 46.32 47.30 2.25 367729 49.49 37.20 - - - -
Yousuf Weaving 400 6.47 1.02 1.10 1.06 1.10 0.08 1124 1.90 0.73 - - - -
ZahidJee Textile 341 1.75 3.25 3.50 2.76 2.76 -0.49 5306 4.00 2.76 - - - -
Zephyr Textile Ltd 594 - 3.05 3.40 3.05 3.40 0.35 1600 4.99 1.50 - - - -
Zil Limited XD 53 3.13 46.68 48.75 46.01 46.76 0.08 9144 48.75 33.00 40 10B 35 -
Paid up Last 60 days 2009 2010
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
1,137.44 1,163.97 1,130.28 1,152.43 14.99 1.32
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
1,712,256 - - 3,763.71 mn 5,475.94 mn 1,152.43
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.74 0.29 10.64 6.27 2.29 1,137.44
AL-Abid SilkXBXR 115 3.10 33.65 33.00 31.97 31.97 -1.68 210 35.00 26.60 7.5 - -20B 20R
Pak Elektron 1174 3.08 13.69 14.58 13.64 14.41 0.72 1695716 15.95 12.17 - 10B - 10B
Singer Pak 341 16.18 17.24 18.23 16.51 17.15 -0.09 3136 24.14 16.51 - 10B - -
Tariq Glass Ind 231 2.78 17.29 17.50 17.00 17.08 -0.21 13193 19.12 14.50 - - 17.5 -
Paid up Last 60 days 2009 2010
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
1,495.96 1,525.57 1,469.11 1,482.95 -13.00 -0.87
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
102,937 - - 11,335.33 mn 191,181.33 mn 1,497.02
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
30.42 9.22 30.30 30.57 1.00 1,477.71
Baba Farid 95 - 53.50 50.83 50.83 50.83 -2.67 3313 55.79 46.50 - - - -
Chashma Sugar 287 0.73 9.03 9.14 9.00 9.07 0.04 1201 11.40 8.00 - - - -
Colony Sugar Mills 990 - 3.73 3.97 3.81 3.90 0.17 2902 4.49 2.40 - - - -
Habib Sugar 600 6.19 29.64 30.40 29.81 30.00 0.36 52691 32.25 24.73 35 25B - -
Habib-ADM Ltd XD 200 11.23 12.15 12.45 12.13 12.13 -0.02 6911 16.98 11.90 40 - 40 -
J D W Sugar 490 2.49 71.99 74.45 72.00 74.43 2.44 8468 74.45 60.10 40 - 0 12.5R
Mehran Sugar 143 3.19 56.92 57.89 55.10 57.00 0.08 460 57.89 48.50 35 30B 25 10B
Mirza Sugar 141 0.32 4.80 5.19 5.15 5.19 0.39 400 5.70 3.55 - - - -
National Foods XD 414 20.34 40.96 43.00 40.50 42.51 1.55 7913 65.29 39.01 - 25B 12 -
Nestle Pakistan 453 21.33 1934.05 1999.00 1920.01 1942.10 8.05 267 2057.99 1641.00 600 - 450 -
Noon Sugar 165 - 12.47 12.99 12.75 12.98 0.51 485 12.99 10.00 50 10B - -
Pangrio Sugar 109 0.41 5.01 5.79 4.25 5.01 0.00 2071 7.00 4.00 - - - -
Premier Sugar 38 6.65 37.50 37.00 36.25 36.25 -1.25 2308 43.60 32.50 30 - - -
Punjab Oil XD 38 2.70 35.31 35.50 35.50 35.50 0.19 500 38.95 32.80 15 25B 15 28R
Quice Food 107 - 2.50 2.35 2.35 2.35 -0.15 4500 3.40 1.60 - - - -
Shakarganj Mills 695 - 5.50 6.40 5.15 5.33 -0.17 5941 6.40 3.02 - - - -
Tandlianwala 1177 263.64 30.00 30.00 29.00 29.00 -1.00 2000 35.50 22.45 - - - -
Wazir Ali 80 - 5.20 6.20 5.40 5.40 0.20 244 8.74 4.75 - - - -
Paid up Last 60 days 2009 2010
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
1,103.98 1,139.41 1,102.13 1,123.44 19.46 1.76
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
449,473 - - 6,768.53 mn 41,363.21 mn 1,123.44
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
4.05 1.03 25.35 20.42 5.04 1,089.05
Agriautos Ind XD 144 4.97 66.51 68.00 66.80 68.00 1.49 2769 78.39 63.01 40 - 90 -Atlas Battery 101 5.80 152.80 156.50 152.00 153.69 0.89 65850 206.95 131.00 100 20B 100 20BAtlas Honda 626 8.42 116.68 122.51 120.05 120.97 4.29 6171 125.90 92.00 80 30B - -Baluchistan Wheels Ltd.XD 133 5.68 30.40 31.92 30.00 30.20 -0.20 2144 33.15 28.25 15 - 25 -Dewan Motors 890 - 1.50 1.64 1.47 1.48 -0.02 99700 2.09 1.16 - - - -Exide (PAK) 56 4.24 149.74 155.99 148.00 148.00 -1.74 111 156.00 121.10 50 - 60 -General Tyre XD 598 6.92 24.04 25.24 24.99 25.24 1.20 19547 27.50 21.71 - - 20 -Ghandhara Nissan 450 - 4.36 4.69 4.37 4.53 0.17 55993 6.30 4.03 - - - -Ghani Automobile Ind 200 6.33 4.51 4.95 4.05 4.05 -0.46 1108 5.70 3.55 - - - -Honda Atlas Cars 1428 - 12.25 12.30 12.00 12.17 -0.08 36700 13.50 9.65 - - - -Indus Motors 786 5.34 229.81 237.99 228.00 233.78 3.97 129281 287.00 212.29 100 - 150 -Pak Suzuki 823 9.43 74.68 76.00 74.80 75.90 1.22 22337 89.99 69.25 5 - - -Sazgar EngineeringXDXB 150 5.46 20.05 21.05 20.65 21.04 0.99 7258 27.85 19.50 - 20B 10 20BTransmission 117 1.80 1.98 2.25 1.56 1.80 -0.18 504 3.25 1.53 2 - - -
Paid up Last 60 days 2009 2010
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
1,478.27 1,540.18 1,483.16 1,531.96 53.69 3.63
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
434,274 - - 1,336.62 mn 31,656.00 mn 1,531.96
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.93 3.02 38.02 131.49 16.57 1,433.87
AL-Ghazi Tractor 215 4.93 203.10 207.60 205.00 205.67 2.57 21708 227.45 200.26 400 - 150 -
Bolan CastingXDXB 104 5.63 47.96 49.50 46.00 48.75 0.79 2808 51.99 36.10 - 20B 25 10B
Ghandhara Ind 213 2.13 13.77 14.00 13.40 13.54 -0.23 44707 19.50 11.29 - - - -
Hinopak Motor 124 - 119.00 119.99 114.01 118.00 -1.00 505 149.00 108.11 17.15 - - -
KSB Pumps 132 9.17 78.70 78.75 75.00 76.56 -2.14 1200 91.00 74.00 35 - - -
Millat TractorsXDXB 366 6.19 461.97 484.90 465.00 482.98 21.01 362830 597.90 390.00 450 25B 650 25B
Pak Engineering XD 57 14.33 294.38 300.00 298.00 300.00 5.62 505 324.80 284.95 125 - 100 -
Paid up Last 60 days 2009 2010
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
897.47 913.46 883.24 901.26 3.78 0.42
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
164,067 - - 3,043.31 mn 33,463.67 mn 901.26
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.55 1.12 43.91 15.55 6.10 885.49
Cherat PapersackXDXB 115 3.98 39.72 41.70 41.70 41.70 1.98 13238 51.05 34.00 - - 20 25B
ECOPACK Ltd 230 - 2.35 2.46 2.30 2.36 0.01 33762 2.86 1.70 - - - -
Ghani GlassXDXB 1067 4.34 47.94 48.90 47.00 47.25 -0.69 3191 61.99 45.75 30 10B 25 10B
MACPAC Films 389 - 2.50 2.90 2.25 2.63 0.13 3500 4.50 1.60 - - - -
Merit Pack 47 - 16.06 17.06 17.00 17.06 1.00 11367 20.70 11.81 - - - -
Packages Ltd 844 55.64 107.69 110.00 108.00 108.50 0.81 87515 123.00 98.00 32.5 - - -
Siemens Engineering 82 10.55 1178.98 1190.00 1128.00 1183.48 4.50 294 1299.75 1040.01 900 - 300 -
Tri-Pack Films 300 7.66 103.80 105.39 104.00 104.99 1.19 11200 105.39 91.00 100 - - -
Paid up Last 60 days 2009 2010
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
986.21 1,008.57 978.25 997.78 11.57 1.17
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
18,738,940 - - 54,792.74 mn 71,857.29 mn 997.78
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.07 0.50 7.10 19.04 2.69 961.57
Al-Abbas Cement 1828 - 3.18 3.40 3.15 3.30 0.12 27825 4.20 2.80 - - - 100R
Attock Cement XD 866 5.06 63.38 63.85 63.00 63.51 0.13 57328 71.90 60.30 50 20B 50 -
Berger Paints 182 - 16.50 17.50 17.10 17.50 1.00 14800 20.00 14.01 - - - 122R
Cherat Cement 956 - 10.50 11.25 10.50 11.18 0.68 25444 12.50 8.90 - - - -
Dadabhoy Cement 982 12.54 1.59 1.69 1.50 1.63 0.04 21668 2.74 1.30 - - - -
Dandot Cement 948 - 2.00 2.35 2.00 2.00 0.00 4000 3.90 1.02 - - - -
Dewan Cement 3574 - 1.59 1.63 1.54 1.58 -0.01 110294 2.20 1.30 - - - -
DG Khan Cement Ltd 3651 38.78 27.51 28.05 27.25 27.92 0.41 7642872 28.74 23.02 - 20R - 20R
EMCO Ind 350 - 2.95 2.90 2.55 2.88 -0.07 174 5.15 2.11 - - - -
Fauji Cement 6933 12.73 5.07 5.18 5.00 5.09 0.02 1210598 5.50 4.50 - - - -
Fecto Cement 502 - 5.10 5.65 5.40 5.65 0.55 1201 7.50 4.25 - 10B - -
Flying Cement Ltd 1760 - 1.97 2.06 1.93 2.02 0.05 28214 2.30 1.74 - - - -
Gharibwal Cement 2319 - 3.45 3.59 3.10 3.59 0.14 263 7.50 2.11 - - - -
Haydery Const 32 - 0.71 0.87 0.63 0.68 -0.03 2169 2.00 0.25 - - - -
Kohat Cement 1288 - 6.20 6.50 6.10 6.39 0.19 46241 6.80 5.50 - - - -
Lafarge Pakistan Cmt. 13126 - 3.43 3.65 3.38 3.57 0.14 7845451 3.65 2.60 - - - -
Lucky Cement XD 3234 6.58 72.19 73.43 71.85 73.26 1.07 1213741 74.00 62.60 40 - 40 -
Maple Leaf Cement 5261 - 2.97 3.15 3.00 3.09 0.12 457521 3.60 2.51 - - - -
Mustehkam Cement 417 - 11.95 12.94 10.95 10.95 -1.00 7311 12.95 10.95 - 177R - -
Pioneer Cement 2228 - 8.22 8.31 8.10 8.11 -0.11 15789 8.58 6.80 - - - -
Thatta Cement 7982210.00 21.79 22.24 21.00 22.10 0.31 5924 22.24 17.74 - - - 50R
Paid up Last 60 days 2009 2010
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
932.26 950.81 923.50 931.08 -1.18 -0.13
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
575,322 - - 3,596.11 mn 8,910.88 mn 938.25
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.92 0.97 33.10 30.91 10.59 929.44
Crescent Steel 565 3.40 25.15 25.50 25.00 25.07 -0.08 131251 31.73 23.75 - - 30 -
Dost Steels Ltd 675 - 2.84 3.39 2.82 3.16 0.32 307210 3.39 1.65 - - - -
Huffaz Pipe 555 5.52 12.90 13.00 12.85 12.87 -0.03 6405 16.75 12.25 - 30B - -
International Ind 1199 4.59 46.90 47.80 46.81 47.12 0.22 102201 70.71 45.60 - - 40 20B
Siddiqsons Tin XD 785 16.84 8.65 8.70 8.19 8.25 -0.40 28255 10.80 8.00 10 - 7.5 -
Paid up Last 60 days 2009 2010
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
1,120.95 1,158.43 1,112.08 1,147.10 26.15 2.33
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
343,564 - - 1,186.83 mn 3,178.97 mn 1,147.10
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.79 0.43 7.47 25.28 4.37 1,120.95
Century Paper 707 - 17.52 18.52 17.80 18.52 1.00 328968 22.70 17.31 - 425R - -
Pak Paper ProductXDXB 50 4.49 42.92 43.15 42.25 43.15 0.23 8104 62.85 38.61 20 - 25 33.33B
Security Paper 411 4.73 40.00 40.77 39.00 40.01 0.01 6492 50.40 38.10 50 - 50 -
Paid up Last 60 days 2009 2010
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
1,190.78 1,209.20 1,189.51 1,196.46 5.68 0.48
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
14,887,462 - - 52,251.88 mn 268,364.11 mn 1,196.46
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.46 2.61 35.00 48.81 6.54 1,180.05
Bawany AirXDXR 68 89.58 10.50 10.75 9.53 10.75 0.25 202 16.78 9.53 - - 5 10R
Biafo Ind XD 200 4.35 38.75 40.04 38.90 40.04 1.29 1005 40.89 31.64 40 - 45 -
BOC (Pak) 250 10.15 76.01 79.81 77.00 79.81 3.80 70125 82.50 66.90 90 - 15 -
Clariant Pak 273 5.64 159.01 162.00 159.10 160.25 1.24 24025 174.00 154.27 125 - - -
Dawood Hercules 1203 7.89 168.62 176.00 170.00 171.00 2.38 10517 185.88 155.38 40 10B 20 -
Descon Chemical 1996 - 2.23 2.44 2.22 2.25 0.02 6600 2.98 1.78 - - - -
Descon Oxychem Ltd. 1020 - 4.02 4.50 4.14 4.30 0.28 419479 5.20 3.20 - - - -
Dewan Salman 3663 - 1.53 1.68 1.54 1.56 0.03 176540 2.21 1.28 - - - -
Dynea Pak XD 94 4.33 12.05 12.99 11.05 11.60 -0.45 2325 13.00 10.21 15 - 15 -
Engro Corporation Ltd 3277 9.04 176.10 178.88 175.60 176.23 0.13 1511752 191.80 165.60 6010B 40R 20 -
Engro Polymer 6635 - 13.75 14.10 13.52 13.70 -0.05 434183 15.20 10.33 - 27.5R - -
Fatima Fertilizer 22000 - 9.96 10.15 9.87 9.91 -0.05 1167897 12.46 9.02 - - - -
Fauji Fertilizer 6785 7.43 108.72 109.70 108.75 109.29 0.57 439902 113.00 102.96 131.5 10B 75 -
Fauji Fert. Bin Qasim 9341 5.74 30.52 30.70 30.30 30.43 -0.09 2032942 30.88 26.59 40 - 17.5 -
Ghani Gases Ltd 725 9.30 12.32 12.64 12.25 12.28 -0.04 182034 13.85 7.41 - - - -
ICI Pakistan 1388 7.65 127.48 130.00 127.80 128.37 0.89 434755 130.00 109.50 80 - 55 -
Leiner Gelatine 75 - 18.24 19.24 19.24 19.24 1.00 202 19.24 6.20 12 - - -
Lotte Pakistan 15142 3.56 10.19 10.49 10.20 10.25 0.06 8538030 10.49 6.75 5 - - -
Mandviwala 74 - 1.53 2.25 1.40 1.70 0.17 11884 3.24 1.06 - - - -
Nimir Ind Chemical 1106 79.50 1.47 1.64 1.50 1.59 0.12 391626 1.74 1.16 - - - -
Shaffi Chemical 120 1.88 2.51 2.97 2.50 2.50 -0.01 532 3.80 2.00 - - - -
Sitara Chem Ind XDXB 214 8.93 110.06 111.00 104.56 108.99 -1.07 14857 128.01 104.56 75 - 25 5B
Sitara Peroxide 551 12.08 10.11 11.11 10.25 11.11 1.00 188675 11.11 7.67 - - - -
United Distributors 92 - 10.65 11.00 11.00 11.00 0.35 1000 17.88 9.22 10 10B - -
Wah-Noble XD 90 4.52 37.47 38.89 37.40 38.19 0.72 858 48.00 37.00 50 - 50 -
Paid up Last 60 days 2009 2010
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
863.27 890.22 857.02 872.20 8.93 1.03
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
193,585 - - 3,904.20 mn 29,057.66 mn 872.20
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.33 1.41 22.31 44.54 7.04 847.64
Abbott (Lab) 979 8.25 92.00 94.75 92.50 94.16 2.16 9355 96.40 77.00 120 - 20 -
Ferozsons (Lab) XB 250 6.59 88.00 90.00 86.02 87.29 -0.71 5031 124.00 85.60 10 20B - 20B
GlaxoSmithKline 1707 13.18 71.80 75.00 71.10 73.00 1.20 43164 83.00 65.00 50 - - -
IBL HealthCare Ltd 200 18.07 8.17 8.90 7.50 8.13 -0.04 94119 8.90 6.10 - - - -
Sanofi-Aventis 96 10.72 136.96 138.00 133.00 134.79 -2.17 454 139.50 115.90 70 - - -
Searle Pak XD 306 5.25 61.50 63.00 61.01 61.21 -0.29 41395 64.19 53.36 15 15B 30 -
Paid up Last 60 days 2009 2010
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
744.95 773.54 717.72 723.99 -20.96 -2.81
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
71,194 - - 3,242.17 mn 12,896.84 mn 744.95
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.69 1.45 25.53 11.08 1.95 667.24
Pak Int Cont.Terminal XD 1092 8.40 71.05 74.60 68.15 68.42 -2.63 69143 87.86 60.05 - 20B 40 -
PNSC XD 1321 42.37 38.95 38.98 38.00 38.98 0.03 2051 41.00 34.50 30 - 15 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
BOOK CLOSURES
1st Capital Securities Corp 23-Oct 30-Oct 10B 15-Oct 30-Oct
1st Fidelity Leasing Modaraba 23-Oct 29-Oct - - 29-Oct
1st National Equities 23-Oct 30-Oct - - 30-Oct
1st Pak Modaraba 23-Oct 30-Oct 3 15-Oct 30-Oct
1st UDL Modaraba 23-Oct 29-Oct 12.5 15-Oct 29-Oct
Agritech 23-Oct 30-Oct - 15-Oct 30-Oct
Al-Khair Gadoon 23-Oct 30-Nov - - -
Al-Qadir Textile Mills 23-Oct 30-Oct 10(i) 15-Oct 30-Oct
Aruj Garment Accessories 23-Oct 30-Oct - - 30-Oct
Ayesha Textile Mills 23-Oct 30-Oct - - 30-Oct
Bhanero Textile Mills 23-Oct 30-Oct 200 15-Oct 26-Oct
Blessed Textiles 23-Oct 30-Oct 50SD 15-Oct 26-Oct
Bunnu Woollen Mills 23-Oct 30-Oct 20 15-Oct 31-Oct
Crescent Fibres 23-Oct 30-Oct 10 15-Oct 30-Oct
Data Agro 23-Oct 30-Oct - - 30-Oct
Data Textile 23-Oct 30-Oct - - 30-Oct
Dawood Equities 23-Oct 29-Oct - - 29-Oct
Dewan Automotive 23-Oct 29-Oct - - 29-Oct
Dewan Cement 23-Oct 29-Oct - - 29-Oct
Dewan Farooque Motors 23-Oct 29-Oct - - 29-Oct
INDICATIONS
# Extraordinary General Meeting
Company From To D/B/R Spot AGM/Date
OTHER SECTORS
TRG Pakistan Ltd. 4.3 4.55 4.3 4.35 0.05 5368690Murree BreweryXDXB 75.4 76 74.2 74.4 -1 15748Shezan Internat XD 89.5 93.9 93.45 93.85 4.35 2020Lakson Tobacco 347.9 364 340.26 342.53 -5.37 1527Pak Tobacco 112 112 111.5 111.5 -0.5 500Shifa Int Hosp XD 29.5 30.97 30.5 30.89 1.39 863Eye Television 21.51 21.6 21.6 21.6 0.09 425PIAC (A) 2.14 2.45 2.13 2.24 0.1 193139Pak Services 154.5 150 146.9 150 -4.5 104AKD Capital 63.46 66.63 61.2 62.01 -1.45 1047Pace (Pak) Ltd 3.14 3.3 3.11 3.2 0.06 2930722Netsol Technol XD 17.82 18.55 17.8 18.35 0.53 833863Pak Telephone 1.99 2 1.57 1.89 -0.1 408
Symbols Open High Low Close Change Vol
Saturday, October 23, 20107
Technical Analysis Leverage Position
KSE 100 INDEX
Technical Outlook
KSE 100 INDEX closed up 93.74 points at 10,652.48. Volume was 121 per
cent above average and Bollinger Bands were 18 per cent wider than nor-
mal. As far as resistance level is concern, the market will see major 1st
resistance level at 10,723.30 and 2nd resistance level at 10,794.15, while
Index will continue to find its 1st support level at 10,567.60 and 2nd sup-
port level at 10,482.70.
KSE 100 INDEX is currently 6.7 per cent above its 200-day moving average
and is displaying an upward trend. Volatility is extremely low when compared
to the average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting
oscillators are currently bullish on INDEX. Momentum oscillator is currently
indicating that INDEX is currently in an overbought condition.
RSI (14-day) 79.67 Support 1 10,567.60
MA (5-day) 10,529.30 Support 2 10,482.70
MA (10-day) 10,449.22 Resistance 1 10,723.30
MA (100-day) 9,960.09 Resistance 2 10,794.15
MA (200-day) 9,985.53 Pivot 10,638.45
Technical Analysis Leverage Position
National Bank of Pakistan
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NBP closed up 2.19 at 67.69. Volume was 318 per cent above average
(trending) and Bollinger Bands were 38 per cent narrower than normal.
NBP is currently 2.0 per cent above its 200-day moving average and is dis-
playing an upward trend. Volatility is relatively normal as compared to the
average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-
ing oscillators are currently bullish on NBP.
*Arif Habib Ltd 78 Buy
AKD Securities Ltd 61.96 Neutral
TFD Research 92.3 Positive
RSI (14-day) 67.45 Free Float Shares (mn) 318.37
MA (10-day) 65.10 Free Float Rs (mn) 21,550.26
MA (100-day) 65.49 ** NOI Rs (mn) 61.14
MA (200-day) 71.96 Mean 66.60
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Dera Ghazi Khan Cement Co Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
DGKC closed up 0.41 at 27.92. Volume was 160 per cent above average
(trending) and Bollinger Bands were 24 per cent wider than normal.
DGKC is currently 2.8 per cent above its 200-day moving average and is
displaying an upward 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 into DGKC (bullish). Trend forecasting
oscillators are currently bullish on DGKC. Momentum oscillator is current-
ly indicating that DGKC is currently in an overbought condition.
*Arif Habib Ltd 44 Buy
AKD Securities Ltd 43.29 Buy
TFD Research 36.85 Positive
RSI (14-day) 73.18 Free Float Shares (mn) 182.55
MA (10-day) 26.35 Free Float Rs (mn) 5,096.79
MA (100-day) 25.31 ** NOI Rs (mn) 29.62
MA (200-day) 27.15 Mean 27.68
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Hub Power Co Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
HUBC closed up 0.40 at 34.19. Volume was 337 per cent above average
(trending) and Bollinger Bands were 53 per cent narrower than normal.
HUBC is currently 1.2 per cent above its 200-day moving average and is
displaying an upward trend. Volatility is low as compared to the average
volatility over the last 10 trading sessions. Volume indicators reflect mod-
erate flows of volume into HUBC (mildly bullish). Trend forecasting oscilla-
tors are currently bullish on HUBC.
*Arif Habib Ltd 48 Buy
AKD Securities Ltd 44 Buy
TFD Research 44.9 Positive
RSI (14-day) 56.86 Free Float Shares (mn) 810.01
MA (10-day) 33.63 Free Float Rs (mn) 27,694.18
MA (100-day) 34.04 ** NOI Rs (mn) 0.03
MA (200-day) 33.78 Mean 34.02
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Nishat Mills Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NML closed down -1.02 at 51.71. Volume was 104 per cent above aver-
age and Bollinger Bands were 2 per cent wider than normal.
NML is currently 0.4 per cent below its 200-day moving average and is dis-
playing an upward 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 into NML (bullish). Trend forecasting
oscillators are currently bullish on NML.
*Arif Habib Ltd 65 Buy
AKD Securities Ltd 59.97 Buy
TFD Research 74.2 Positive
RSI (14-day) 65.00 Free Float Shares (mn) 175.80
MA (10-day) 50.85 Free Float Rs (mn) 9,090.61
MA (100-day) 46.87 ** NOI Rs (mn) 115.21
MA (200-day) 51.93 Mean 51.17
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Pakistan Oilfields Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
POL closed up 6.80 at 243.22. Volume was 189 per cent above average
(trending) and Bollinger Bands were 13 per cent wider than normal.
POL is currently 5.1 per cent above its 200-day moving average and is dis-
playing a downward trend. Volatility is extremely high when compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into POL (bullish). Trend forecasting
oscillators are currently bearish on POL.
*Arif Habib Ltd 261 Buy
AKD Securities Ltd 296.6 Buy
TFD Research 281.35 Positive
RSI (14-day) 57.32 Free Float Shares (mn) 107.94
MA (10-day) 241.82 Free Float Rs (mn) 26,252.37
MA (100-day) 226.96 ** NOI Rs (mn) 83.89
MA (200-day) 231.48 Mean 240.20
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Pakistan Telecommunication Co Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
PTC closed up 0.23 at 19.31. Volume was 64 per cent above average and
Bollinger Bands were 58 per cent narrower than normal.
PTC is currently 1.6 per cent below its 200-day moving average and is dis-
playing an upward trend. Volatility is low as compared to the average
volatility over the last 10 trading sessions. Volume indicators reflect mod-
erate flows of volume into PTC (mildly bullish). Trend forecasting oscilla-
tors are currently bullish on PTC.
AKD Securities Ltd 24.04 Buy
TFD Research 30.5 Positive
RSI (14-day) 56.65 Free Float Shares (mn) 584.63
MA (10-day) 19.25 Free Float Rs (mn) 11,289.30
MA (100-day) 18.70 ** NOI Rs (mn) 7.84
MA (200-day) 19.64 Mean 19.28
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Bank Al-Falah Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
BAFL closed up 0.02 at 9.32. Volume was 27 per cent above average and
Bollinger Bands were 46 per cent wider than normal.
BAFL is currently 10.9 per cent below its 200-day moving average and is
displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into BAFL (bullish). Trend forecasting
oscillators are currently bullish on BAFL.
*Arif Habib Ltd 14 Buy
AKD Securities Ltd 10.25 Accumulate
TFD Research 14.01 Positive
RSI (14-day) 66.86 Free Float Shares (mn) 674.58
MA (10-day) 9.13 Free Float Rs (mn) 6,287.07
MA (100-day) 8.86 ** NOI Rs (mn) N/A
MA (200-day) 10.46 Mean 9.36
* Target price for Dec-10 & **Net Open Interest in future market
EQUITY INVESTMENT INSTRUMENTS
Performance of SR Equity Investment Instruments Index
Open High Low Close Change % Change
1,051.99 1,078.67 1,045.93 1,062.96 10.97 1.04
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
1,082,025 - - 29,771.58 mn 17,418.94 mn 1,062.96
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.40 0.30 4.09 104.19 24.75 1,035.75
1st Fid Leasing 264 - 1.40 1.48 1.30 1.33 -0.07 3542 2.24 1.01 - - - -
AL-Meezan Mutual F. XD 1375 5.20 6.22 6.35 6.21 6.24 0.02 1311 7.25 5.85 - - 18.5 -
Atlas Fund of Funds 525 2.31 2.92 3.20 2.82 3.00 0.08 29028 4.50 2.53 - - 2.2 -
B F Modaraba XB 75 7.60 3.82 3.80 3.80 3.80 -0.02 115 4.90 3.65 - - - 10B
B R R Guardian Mod. 780 2.82 1.19 1.35 1.11 1.24 0.05 12278 1.85 0.90 - - 0 -
Constellation Modaraba 65 3.36 1.70 1.70 1.00 1.11 -0.59 1559 2.99 0.90 - - - -
Crescent St Mod.XD 200 2.00 0.61 1.10 0.61 0.80 0.19 165964 1.10 0.16 - - 1.2 -
Elite Cap Mod. XD 113 3.29 2.24 2.50 2.11 2.14 -0.10 55041 3.44 1.65 4.5 - 5 -
Equity Modaraba 524 - 1.06 1.19 1.05 1.05 -0.01 510 1.50 0.76 - - - -
First Capital Mutual F. 300 4.57 4.50 4.50 4.00 4.25 -0.25 12600 4.55 0.99 - - - -
First Dawood Mutual F. 581 - 1.68 1.73 1.60 1.73 0.05 4115 2.06 1.36 - - - -
Golden Arrow XD 760 3.03 2.80 2.90 2.73 2.79 -0.01 132635 3.88 2.32 - - 17 -
H B L Modaraba XD 397 4.73 5.11 5.40 5.26 5.35 0.24 20020 6.80 4.80 5 - 11 -
Habib Modaraba 1008 5.16 5.98 6.00 5.99 5.99 0.01 1000 7.45 5.56 20 - 21 -
Imrooz Modaraba XD 30 7.89 45.04 43.21 43.21 43.21 -1.83 190 69.95 42.90 63 - 76 -
JS Growth Fund 3180 37.63 3.00 3.08 2.85 3.01 0.01 84622 3.90 2.70 - - 5 -
JS Value Fund 1186 - 2.82 2.97 2.61 2.95 0.13 61823 3.98 2.31 10 - 10 -
Meezan Balanced F. XD 1200 5.29 5.50 5.50 5.50 5.50 0.00 2000 7.00 5.30 - - 15.5 -
Mod Al-Mali 184 - 0.81 1.23 0.70 1.18 0.37 635 1.25 0.56 - - - -
Pak Modaraba XD 125 1.91 0.72 1.10 0.80 1.05 0.33 1350 1.40 0.25 - - 3 -
Pak Prem Fund 1698 3.78 7.92 8.14 7.91 7.93 0.01 145903 9.86 7.00 - - 18.6 -
Pak Strat Fund 3000 5.48 7.06 7.15 7.02 7.02 -0.04 93003 8.10 6.01 - - 11.53 -
PICIC Energy Fund 1000 1.63 5.43 5.65 5.55 5.60 0.17 30230 6.49 4.00 - - 5 -
PICIC Growth Fund 2835 5.22 8.02 8.17 7.98 8.15 0.13 46492 10.55 7.60 - - 20 -
PICIC Inv Fund XD 2841 4.30 3.70 3.80 3.61 3.78 0.08 34989 5.00 3.50 - - 10 -
Prud Modaraba 1st XD 872 2.45 1.00 0.95 0.91 0.93 -0.07 7378 1.20 0.70 - - 3 -
Punjab Modaraba 340 7.10 1.43 1.50 1.36 1.49 0.06 121873 2.00 0.57 - - 1 -
Stand Chart Modaraba XD 454 5.05 8.56 8.89 8.60 8.89 0.33 230 10.99 7.75 16.5 - 17 -
Tri-Star 1st Modaraba 212 5.21 2.98 3.90 1.98 1.98 -1.00 5503 7.12 0.50 - - - -
U D L Modaraba XD 264 2.83 5.25 5.50 4.71 5.44 0.19 5952 6.99 4.71 10 - 12.5 -
Paid up Last 60 days 2009 2010
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
376.40 393.16 373.88 382.58 6.18 1.64
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
15,764,997 - - 30,336.44 mn 27,374.41 mn 382.58
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
0.46 0.17 37.22 4.60 9.96 365.43
AMZ Ventures 225 - 0.60 0.70 0.52 0.59 -0.01 295738 1.10 0.42 - - - -
Arif Habib Invest. XB 360 7.94 16.55 17.26 16.59 16.99 0.44 128990 20.99 13.00 - - - 20B
Arif Habib Limited XB 450 6.95 27.43 28.49 27.50 27.85 0.42 198924 45.80 24.62 15 25B - 20B
Arif Habib Securities 3750 2.46 24.19 25.39 24.45 24.97 0.78 4566643 34.99 20.90 - - 30 -
Arpak Int 40 4.69 13.00 13.00 13.00 13.00 0.00 475 19.37 4.00 - - - -
Dawood Cap Mangt. XB 150 - 1.43 1.44 1.22 1.41 -0.02 582 2.69 0.50 - - - -
Escorts Bank 441 - 2.65 3.35 2.01 2.55 -0.10 5054 3.35 1.85 - - - -
First Credit & Invest Bank Ltd 650 22.92 2.88 3.25 2.75 2.75 -0.13 4902 4.50 2.00 - - - -
IGI Investment Bank 2121 12.50 2.00 2.14 2.00 2.00 0.00 6727 2.39 1.17 - - - -
Invest and Fin Sec XD 600 2.67 7.60 7.68 7.67 7.67 0.07 1501 9.00 6.70 - - 11.5 -
Invest Bank 2849 - 0.68 0.74 0.63 0.68 0.00 4422 1.09 0.44 - - - -
Ist Cap Securities XB 3166 1.56 3.93 4.25 3.65 3.80 -0.13 97703 5.29 2.54 - 10B - 10B
Ist Dawood Bank 626 0.32 1.85 2.25 1.73 1.94 0.09 196397 2.84 1.17 - - - -
Jah Siddiq Co 7633 - 10.11 10.43 10.12 10.25 0.14 8122711 14.60 8.80 -243.778B 10 -
JOV and CO 508 - 2.29 2.55 2.21 2.42 0.13 1149291 5.84 1.96 - - - -
JS Global Cap XD 500 - 25.65 26.93 25.90 26.93 1.28 48016 40.99 24.25 150 - - -
JS Investment 1000 13.80 6.13 6.30 6.00 6.21 0.08 481055 7.93 5.10 - - - -
KASB Securities 1000 - 4.10 4.30 3.91 4.00 -0.10 1863 5.25 3.20 - - - -
Orix Leasing 821 4.35 5.25 5.60 5.25 5.53 0.28 81046 5.95 3.66 - - - -
Pervez Ahmed Sec 775 - 1.80 1.95 1.70 1.73 -0.07 273875 2.57 1.35 -231.08R - -
Saudi Pak Leasing 452 - 0.63 0.68 0.60 0.60 -0.03 83200 1.70 0.40 - - - -
Sec Inv Bank 514 - 2.99 3.55 2.50 2.50 -0.49 184 3.80 1.65 - - - -
Stand Chart Leasing 978 5.17 2.30 2.49 2.25 2.48 0.18 20569 3.00 1.50 - - - -
Paid up Last 60 days 2009 2010
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
883.36 897.71 843.48 887.16 3.79 0.43
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
33,004 - - 2,290.72 mn 10,354.63 mn 887.16
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
85.43 3.29 3.85 355.53 4.16 866.52
EFU Life Assurance XB 850 42.46 76.80 80.50 73.50 78.13 1.33 21879 82.99 51.25 5513.33B - -
New Jub Life Insurance 627 54.31 43.60 43.50 41.42 43.45 -0.15 11125 45.20 34.50 10 - - -
Paid up Last 60 days 2009 2010
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
1,011.27 1,037.89 1,008.16 1,023.90 12.64 1.25
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
21,391,813 - - 257,548.02 mn 622,819.82 mn 1,023.90
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.18 0.97 13.45 34.35 4.78 996.53
Allied Bank Limited 7821 5.40 55.13 55.89 55.00 55.53 0.40 207795 59.70 48.51 40 10B 20 -Askari Bank 6427 6.46 15.54 15.88 15.53 15.64 0.10 737881 17.12 13.99 - 20B - -Atlas Bank 5001 - 1.87 2.16 1.80 1.97 0.10 483572 2.84 1.52 - - - -Bank Alfalah 13492 12.43 9.30 9.55 9.25 9.32 0.02 2175185 10.25 7.32 8 - - -Bank AL-Habib 7322 6.94 31.98 32.65 32.00 32.19 0.21 676677 33.75 29.10 20 20B - -Bank Of Khyber 5004 3.35 3.22 3.44 3.22 3.35 0.13 6962 3.99 2.50 - - - -Bank Of Punjab 5288 - 8.56 8.80 8.51 8.65 0.09 1480434 10.94 7.35 - - - -BankIslami Pak 5280 - 3.18 3.25 3.10 3.17 -0.01 116228 3.69 2.31 - - - -Faysal Bank 6091 3.31 14.13 14.55 14.26 14.36 0.23 104307 15.58 12.75 - - - -Habib Bank Ltd 10019 6.72 106.02 107.15 104.00 104.38 -1.64 140636 109.10 92.00 60 10B - -Habib Metropolitan Bank 8732 6.06 19.50 20.50 19.59 20.48 0.98 175542 22.38 18.02 10 16B - -JS Bank Ltd 6128 - 2.40 2.49 2.36 2.40 0.00 131340 2.90 2.00 - - - 66RKASB Bank Ltd 9509 - 2.41 2.54 2.40 2.50 0.09 26003 3.70 2.03 - 26B - -MCB Bank Ltd 7602 9.51 201.85 205.90 202.00 203.95 2.10 1781242 214.99 180.40 110 10B 55 -Meezan Bank 6983 7.48 15.28 15.70 14.96 15.40 0.12 32044 15.95 13.80 - 5B - -Mybank Ltd 5304 - 2.19 2.40 2.18 2.20 0.01 150043 2.79 1.62 - - - -National Bank 13455 5.68 65.50 67.99 65.21 67.69 2.19 7829726 73.89 60.51 75 25B - -Network Mic Bank 300 - 0.88 1.00 1.00 1.00 0.12 4500 2.25 0.26 - - - -NIB Bank 40437 - 2.87 2.98 2.87 2.90 0.03 811592 3.45 2.42 - - - -Royal Bank Ltd 17180 - 6.54 6.89 6.30 6.42 -0.12 87592 12.50 5.20 - - - -Samba Bank 14335 - 2.03 2.25 1.96 2.03 0.00 351757 2.90 1.55 - - -63.46RSilkbank Ltd 26716 13.18 2.89 3.00 2.85 2.90 0.01 2413823 3.30 2.15 - - - -Soneri Bank 6023 - 6.57 6.89 6.24 6.41 -0.16 54372 6.99 5.01 - - - -Stand Chart Bank 38716 9.44 6.56 6.88 6.52 6.61 0.05 3462 8.50 6.00 - - - -Summit Bank Ltd 5000 - 2.93 3.05 2.91 2.97 0.04 103664 3.90 2.30 - - - -United Bank Ltd 12242 6.40 53.28 54.85 53.30 54.43 1.15 1409098 60.20 49.90 25 10B 10 -
Paid up Last 60 days 2009 2010
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
701.71 722.38 696.47 708.18 6.47 0.92
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
3,460,919 - - 11,111.34 mn 44,325.44 mn 708.18
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
11.72 0.61 5.20 79.54 6.79 674.05
Adamjee Insurance XD 1237 13.55 73.61 75.69 73.75 74.52 0.91 1055862 89.50 63.05 30 10B 10 -
Paid up Last 60 days 2009 2010
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
1,654.11 1,710.25 1,665.94 1,703.08 48.97 2.96
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
339,560 - - 12,202.80 mn 36,613.52 mn 1,703.08
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
10.83 1.24 11.41 66.79 6.17 1,624.75
Sui North Gas 5491 18.64 31.57 32.00 31.55 31.69 0.12 136690 33.40 25.00 - - - -Sui South GasXDXB 8390 3.50 21.81 22.90 22.10 22.90 1.09 202870 30.70 16.00 - - 15 25B
Paid up Last 60 days 2009 2010
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
1,172.88 1,194.47 1,170.64 1,186.84 13.96 1.19
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
19,607,087 - - 95,369.29 mn 97,535.92 mn 1,186.84
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
12.54 1.17 9.35 104.13 8.30 1,170.85
Genertech 198 - 0.82 1.10 0.80 0.93 0.11 70639 1.45 0.51 - - - -
Hub Power 11572 6.33 33.79 34.37 33.71 34.19 0.40 7185324 37.24 32.75 33.5 - 50 -
Japan Power 1560 - 1.60 1.70 1.50 1.59 -0.01 69506 2.20 0.70 - - - -
KESC 7932 - 2.10 2.27 2.15 2.25 0.15 1113724 2.63 1.92 - 31R - 7.8R
Kot Addu Power XD 8803 6.81 39.18 39.50 39.00 39.34 0.16 157280 44.85 38.35 64.5 - 50 -
Nishat Chunian Power Ltd 3673 - 12.25 12.60 12.22 12.35 0.10 1486708 12.90 9.50 - - - -
Nishat Power Ltd 3541 95.00 13.53 13.74 13.11 13.30 -0.23 10124788 13.80 9.25 - - - -
Southern Electric 1367 5.74 2.40 2.50 2.15 2.24 -0.16 884813 3.19 2.05 - - - -
Tri-star Power XD 150 - 0.90 1.00 0.85 0.90 0.00 1001 1.58 0.33 3 - - -
Paid up Last 60 days 2009 2010
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
1,135.80 1,167.25 1,138.39 1,148.30 12.50 1.10
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
3,889,355 - - 50,077.79 mn 79,157.19 mn 1,148.30
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.18 0.79 12.84 62.56 10.12 1,129.75
Pak Datacom XD 78 4.58 95.01 95.50 93.00 93.00 -2.01 1659 120.61 91.00 70 - 80 -
Pakistan Telecomm Co A 37740 9.20 19.08 19.59 19.15 19.31 0.23 2791477 20.22 17.32 15 - 17.5 -
Telecard 3000 1.09 2.51 2.63 2.50 2.53 0.02 504702 3.08 1.80 - - 1 -
WorldCall Tele 8606 - 2.77 2.87 2.76 2.80 0.03 591517 3.25 2.30 - - - -
Wateen Telecom Ltd 6175 - 3.86 3.95 3.83 3.86 0.00 47866 6.13 3.60 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
Atlas Insurance 369 4.99 32.91 33.80 33.70 33.80 0.89 3310 34.40 27.10 40 10B - -
Central Insurance XB 279 5.27 52.99 53.39 50.82 50.91 -2.08 505 64.90 47.37 20 25B 10 10B
Century Insurance 457 6.31 11.30 11.50 10.50 11.24 -0.06 15930 11.99 9.42 - - - -
EFU General Ins. XB 1250 36.67 46.86 48.00 46.05 46.21 -0.65 46047 54.50 34.76 40 8.7B - -
Habib Insurance 400 2.61 10.75 11.00 10.82 10.95 0.20 2688 13.89 10.04 35 - - -
IGI Insurance 718 14.31 80.05 81.99 80.00 81.00 0.95 689 84.00 66.02 35 - 10 20B
New Jub Insurance 791 9.71 56.45 58.85 54.20 56.92 0.47 116 59.99 52.21 30 20B - -
Pak Reinsurance 3000 - 15.22 15.95 15.10 15.75 0.53 2241030 18.69 12.50 30 - - -
Pak Gen Insurance 250 1.43 6.06 7.04 5.56 6.07 0.01 5942 8.20 5.06 5 25B - -
PICIC Ins Ltd 350 67.50 2.43 2.93 2.49 2.70 0.27 67974 4.16 1.66 - - - -
Premier Insurance 303 5.00 9.25 9.48 9.00 9.25 0.00 2561 10.30 8.00 20 15B - -
Reliance Insurance XB 252 4.53 7.15 7.00 6.61 6.61 -0.54 3273 7.70 6.02 - - - -
Silver Star Insurance 253 1.74 6.80 7.32 7.00 7.01 0.21 4790 10.00 6.00 - 20B - -
United Insurance XB 400 1.51 5.10 6.10 5.12 6.02 0.92 10100 6.54 4.02 - 16B - -
UPTO 100 VOLUME
FNBM 6.00 6.98 6.98 6.98 0.98 100
SHNI 13.35 14.30 14.30 14.30 0.95 100
SHSML 11.42 11.40 11.40 11.40 -0.02 100
LEUL 1.50 1.50 1.50 1.50 0.00 100
HINOON 24.22 24.33 24.22 24.33 0.11 67
AGSML 5.55 6.48 5.26 5.26 -0.29 57
ULEVER 4075.01 4168.99 3960.00 4000.02 -74.99 57
DMTM 2.80 3.50 1.80 3.50 0.70 56
COLG 751.00 782.45 745.00 782.45 31.45 55
MLCFPS 4.99 5.99 4.00 4.03 -0.96 54
JKSM 7.00 7.10 6.00 6.09 -0.91 52
HUSS 12.37 12.19 12.19 12.19 -0.18 50
DMTX 2.50 1.50 1.50 1.50 -1.00 34
ADAMS 13.00 13.20 12.51 12.51 -0.49 34
PCAL 53.50 56.00 53.85 53.85 0.35 34
NOPK 22.80 23.50 22.85 23.50 0.70 33
FNEL 8.03 8.50 7.03 8.50 0.47 29
SMCPL 6.30 7.25 6.05 6.89 0.59 25
FRCL 3.86 4.80 4.80 4.80 0.94 25
GRAYS 47.78 50.16 47.00 50.16 2.38 22
DWSM 1.85 1.80 1.52 1.80 -0.05 16
INKL 10.20 9.99 9.50 9.50 -0.70 13
TSMF 1.90 2.20 2.00 2.00 0.10 11
COTT 1.49 0.70 0.70 0.70 -0.79 11
TRPOL 0.80 0.53 0.42 0.53 -0.27 11
KOHE 23.74 24.30 24.25 24.25 0.51 11
ADOS 15.42 16.40 16.40 16.40 0.98 11
PHDL 39.51 41.48 37.54 37.54 -1.97 11
ARM 14.01 14.50 14.50 14.50 0.49 10
NATM 10.65 9.65 9.65 9.65 -1.00 10
AGL 22.25 22.00 22.00 22.00 -0.25 10
SANSM 13.90 13.90 13.90 13.90 0.00 10
JVDC 59.94 60.90 60.00 60.00 0.06 10
KCL 10.24 10.24 10.24 10.24 0.00 10
REWM 8.71 9.55 8.01 9.49 0.78 8
DADX 25.08 26.33 23.83 23.83 -1.25 8
KSTM 0.73 0.75 0.75 0.75 0.02 7
POAF 13.48 13.48 13.48 13.48 0.00 6
FIBLM 1.99 2.85 2.84 2.84 0.85 5
STCL 8.02 7.70 7.70 7.70 -0.32 5
KOSM 0.97 1.48 1.19 1.19 0.22 4
CRTM 19.87 20.87 20.86 20.87 1.00 3
ILTM 89.00 90.00 85.19 90.00 1.00 2
MQTM 9.18 10.18 9.10 9.10 -0.08 2
NAGC 14.70 15.49 15.49 15.49 0.79 2
GATI 42.01 43.79 43.79 43.79 1.78 2
MFFL 64.56 67.77 67.77 67.77 3.21 2
KASBM 1.50 1.30 1.30 1.30 -0.20 1
FPRM 7.72 7.72 7.72 7.72 0.00 1
GRYL 1.25 2.00 2.00 2.00 0.75 1
DEL 1.73 1.99 1.99 1.99 0.26 1
AGIC 11.75 12.25 11.95 11.95 0.20 1
CSIL 4.00 3.30 3.30 3.30 -0.70 1
BCML 14.01 15.00 15.00 15.00 0.99 1
DINT 23.55 24.71 24.71 24.71 1.16 1
IDYM 218.45 223.99 223.99 223.99 5.54 1
NPSM 19.56 20.56 20.56 20.56 1.00 1
SSML 2.20 1.50 1.50 1.50 -0.70 1
BHAT 172.00 180.50 180.50 180.50 8.50 1
HUSI 9.90 9.99 9.99 9.99 0.09 1
BTL 45.50 45.50 45.50 45.50 0.00 1
QUET 29.86 30.99 30.94 30.94 1.08 1
MOON 10.00 10.50 10.50 10.50 0.50 1
KOHS 4.25 5.24 5.24 5.24 0.99 1
TICL 69.00 68.50 68.50 68.50 -0.50 1
IDEN 11.80 11.80 11.80 11.80 0.00 1
RMPL 1548.23 1550.00 1550.00 1550.00 1.77 1
Symbols Open High Low Close Change Vol
FUTURE CONTRACTS
DGKC-OCT 27.51 28.03 27.30 27.91 0.40 639500
NBP-OCT 65.69 68.00 66.10 67.80 2.11 630500
POL-OCTB 236.92 244.85 237.95 243.97 7.05 579000
NML-OCT 50.78 52.25 50.85 52.02 1.24 562000
MCB-OCT 201.78 205.55 202.00 204.17 2.39 343000
ANL-OCT 10.62 11.62 10.66 11.40 0.78 282000
ENGRO-OCT 176.30 179.00 176.25 176.76 0.46 136000
PSO-OCT 263.09 267.85 263.00 266.48 3.39 113500
PPL-OCT 187.08 190.50 187.01 189.14 2.06 107500
AICL-OCT 73.66 75.63 74.40 74.80 1.14 59000
LUCK-OCT 72.20 73.39 72.01 73.24 1.04 53000
OGDC-OCT 152.54 154.00 152.55 153.08 0.54 48000
NCL-OCT 19.50 20.50 20.50 20.50 1.00 30000
PTC-OCT 19.22 19.60 19.33 19.40 0.18 19500
FFBL-OCT 30.50 30.45 30.30 30.45 -0.05 13000
UBL-OCT 53.45 54.90 54.50 54.50 1.05 7000
BOP-OCT 8.60 8.75 8.70 8.72 0.12 4500
NCL-OCTB 18.35 19.35 19.35 19.35 1.00 2000
AICL-COCT 73.85 0.00 0.00 74.73 0.88 0.00
ABL-COCT 55.31 0.00 0.00 55.68 0.37 0.00
AKBL-COCT 15.59 0.00 0.00 15.68 0.09 0.00
ATRL-COCT 97.40 0.00 0.00 99.81 2.41 0.00
ANL-COCT 10.61 0.00 0.00 11.40 0.79 0.00
FFC-COCT 109.07 0.00 0.00 109.59 0.52 0.00
HBL-COCT 106.36 0.00 0.00 104.67 -1.69 0.00
ICI-COCT 127.89 0.00 0.00 128.72 0.83 0.00
KAPCO-COCT 39.31 0.00 0.00 39.45 0.14 0.00
NETSOL-COCT17.88 0.00 0.00 18.40 0.52 0.00
NML-COCT 52.90 0.00 0.00 51.85 -1.05 0.00
UBL-COCT 53.45 0.00 0.00 54.58 1.13 0.00
AICL-CNOV 74.79 0.00 0.00 75.68 0.89 0.00
AKBL-CNOV 15.79 0.00 0.00 15.88 0.09 0.00
ATRL-CNOV 98.65 0.00 0.00 101.09 2.44 0.00
Symbols Open High Low Close Change Vol
ZERO VOLUME
AZTM 0.50 0.56 0.56 0.56 0.06 0.00
FANM 2.12 2.16 2.16 2.16 0.04 0.00
LIBM 56.50 55.50 55.50 55.50 -1.00 0.00
Symbols Open High Low Close Change Vol
Al-Abbas Cement 51.41 3.15 3.05 3.40 3.55 3.30
Allied Bank Limited 70.81 55.05 54.60 55.95 56.35 55.45
Attock Cement 43.89 63.05 62.60 63.90 64.30 63.45
Arif Habib Limited 50.83 27.40 26.95 28.40 28.95 27.95
Arif Habib Securities 61.35 24.50 24.00 25.45 25.90 24.95
Adamjee Insurance 65.70 73.60 72.70 75.55 76.60 74.65
Askari Bank 65.67 15.50 15.35 15.85 16.05 15.70
Azgard Nine 66.33 10.80 10.30 11.75 12.10 11.20
Attock Petroleum 32.29 294.15 292.25 298.80 301.55 296.90
Attock Refinery 78.57 98.00 96.45 100.80 102.05 99.25
Bank Alfalah 66.86 9.20 9.05 9.50 9.65 9.35
BankIslami Pak 50.82 3.10 3.00 3.25 3.30 3.15
Bank Of Punjab 60.65 8.50 8.35 8.80 8.95 8.65
Dewan Cement 52.65 1.55 1.50 1.65 1.70 1.60
DGK Cement 73.18 27.45 26.95 28.25 28.55 27.75
Dewan Salman 55.84 1.50 1.45 1.65 1.75 1.60
Dost Steels Ltd 78.78 2.85 2.55 3.40 3.70 3.10
EFU General Insurance 74.02 45.50 44.80 47.45 48.70 46.75
EFU Life Assurance 73.82 74.25 70.40 81.25 84.40 77.40
Engro Chemical 50.22 174.90 173.60 178.20 180.20 176.90
Faysal Bank 63.92 14.25 14.10 14.50 14.70 14.40
Fauji Cement 59.46 5.00 4.90 5.20 5.25 5.10
Fauji Fert Bin 69.45 30.25 30.10 30.65 30.90 30.50
Fauji Fertilizer 67.63 108.80 108.30 109.75 110.20 109.25
Habib Bank Ltd 66.14 103.20 102.05 106.35 108.35 105.20
Hub Power 56.86 33.80 33.45 34.45 34.75 34.10
ICI Pakistan 68.73 127.45 126.50 129.65 130.90 128.70
Indus Motors 59.99 228.55 223.25 238.50 243.25 233.25
JOV and CO 41.40 2.25 2.05 2.55 2.75 2.40
Japan Power 53.80 1.50 1.40 1.70 1.80 1.60
JS Bank Ltd 49.92 2.35 2.30 2.50 2.55 2.40
Jah Siddiq Co 44.21 10.10 9.95 10.40 10.60 10.25
Kot Addu Power 32.89 39.05 38.80 39.55 39.80 39.30
KESC 62.86 2.15 2.10 2.30 2.35 2.20
Lucky Cement 59.85 72.25 71.25 73.85 74.45 72.85
MCB Bank Ltd 67.94 202.00 200.05 205.90 207.85 203.95
Maple Leaf Cement 57.62 3.00 2.95 3.15 3.25 3.10
National Bank 67.45 65.95 64.20 68.70 69.75 66.95
Nishat (Chunian) 77.85 20.15 19.55 21.10 21.40 20.45
Netsol Technologies 47.01 17.90 17.50 18.65 19.00 18.25
NIB Bank 54.99 2.85 2.80 2.95 3.05 2.90
Nimir Ind.Chemical 63.84 1.50 1.45 1.65 1.70 1.60
Nishat Mills 65.00 51.00 50.25 52.25 52.75 51.50
Oil & Gas Dev XD 72.69 151.70 150.20 154.45 155.70 152.95
PACE (Pakistan) Ltd 64.72 3.10 3.00 3.30 3.40 3.20
Pervez Ahmed Sec 55.21 1.65 1.55 1.90 2.05 1.80
PIAC(A) 55.20 2.10 1.95 2.40 2.60 2.25
Pioneer Cement 53.11 8.05 7.95 8.25 8.40 8.15
Pak Oilfields 57.32 238.60 234.00 246.05 248.90 241.45
Pak Petroleum 57.88 187.30 185.40 190.75 192.35 188.90
Pak Suzuki 54.67 75.15 74.35 76.35 76.75 75.55
PSO XD 47.76 263.30 260.60 268.10 270.20 265.40
PTCLA 56.65 19.10 18.90 19.55 19.80 19.35
Shell Pakistan 31.43 183.30 178.15 195.30 202.15 190.15
Sui North Gas 56.65 31.50 31.30 31.95 32.20 31.75
Sitara Peroxide 76.87 10.55 9.95 11.40 11.70 10.80
Sui South Gas 30.78 22.35 21.85 23.15 23.45 22.65
Telecard 64.02 2.45 2.40 2.60 2.70 2.55
TRG Pakistan 62.19 4.25 4.15 4.50 4.65 4.40
United Bank Ltd 65.37 53.55 52.65 55.10 55.75 54.20
WorldCall Tele 61.05 2.75 2.70 2.85 2.90 2.80
Company RSI 1st 2nd 1st 2nd Pivot
(14-day) Support Resistance
TECHNICAL LEVELS
Central Insurance Company Ltd 23-Oct 10:30
First Al-Noor Modaraba 23-Oct 12:00
Network Microfinance Bank Limited 23-Oct 11:30
Pakistan PVC Ltd 23-Oct 9:30
Siemens (Pakistan) Engineering Co Ltd 23-Oct 2:00
Soneri Bank Limited 23-Oct 12:00
ABL Cash Fund 25-Oct 4:00
ABL Income Fund 25-Oct 4:00
ABL Islamic Cash Fund 25-Oct 4:00
ABL Stock Fund 25-Oct 4:00
Agriauto Industries Limited 25-Oct 11:30
Arif Habib Investments Ltd 25-Oct 10:30
Arif Habib Securities Limited 25-Oct 4:00
Berger Paints Pakistan Ltd 25-Oct 3:00
BMA Chundrigar Road Saving Fund 25-Oct 10:30
BMA Empress Cash Fund 25-Oct 10:30
Century Insurance Company Ltd 25-Oct 4:30
Clover Pakistan Limited 25-Oct 2:00
Colgate Palmolive Pakistan Ltd 25-Oct 10:00
Fateh Industries Ltd 25-Oct 11:00
BOARD MEETINGS
Company Date Time
Saturday, October 23, 2010 8
Life In A Metroon TV, without
Kangna
and Shiney
Filmmaker Anurag Basuwill return to makingTV shows. Sources
confirm that the Kites direc-tor is working on a bi-weeklyshow that will include storiesfrom Life... In A Metro.Newcomers will be cast inthe series and auditions areunderway.
Says a source, "Anuragwanted to make this showeven before Kites. SinceMetro did well and audiencesappreciated the effort, hewanted to make a televisedversion of the film.
The stories will be set inMumbai and have charactersbased on those played byShilpa Shetty, KangnaRanaut, Shiney Ahuja andSharman Joshi."
The script is being fine-tuned even as Basu looks fornew faces. The show will beproduced under his bannerIshana Productions.
"He was earlier toying withthe idea of directing it butlater changed his mind.Someone else will direct theshow, but he will be hands onin making all creative deci-sions."
Buzz is that there might becameos from the actual starsof the film. However, gettingactors from the cast will bedifficult.
"Kangna has distanced her-self from Basu and moved onto other film makers. Shineywon't agree to appear on a TVshow. The only actors he canconsider approaching areShilpa, Sharman and KayKay Menon."
If you’re getting ready topaint a room, or the wholeinterior of your house but
aren’t quite sure where to startthen read on! This article willwalk you step through stepfrom the start of your paintingproject to the finish!
Before you break out therollers and brushes and startslapping paint on the walls youneed to get organized, andorganization begins at the paintstore! Browse the paint chipsection (those little strips ofpaper with multiple paint col-ors on them are called paintchips) and take home severaldifferent selections in thecolor(s) that appeal to you.While you are there, pick upplastic drop clothes, painterstape, rollers appropriate for thewalls you will be painting(rollers come with differentlength nub length for smooth ortextured walls), trim brushes,and regular paint brushes forareas that can’t be painted witha roller. You will also need jointcompound (for filling holes)and a flat spackle knife.
When you get back homewith your paint chips, tapethem to the wall and observe
the different colors at differenttimes of the day as the lightvaries in the room. By doingthis you will ensure that thecolor you end up choosing isthe one you really want. Onceyou have decided on your colorchoice, return to the paint storewith that particular color andhave enough paint mixed tocover your entire room (meas-ure the length and width ofyour room and your wallheight to calculate the amountof paint needed. Most paintcans have calculators that tellyou how much square footageeach gallon of paint will cover
under normal painting condi-tions). If the trim in your roomneeds to be repainted you willalso need to pick up trim paint.Trim is most commonly paint-ed white; however it can beany color you choose! Trimpaint in generally semi-glossor gloss, both of which form ahard shell when dry that holdsup to a lot of wear and tear.Walls are generally paintedwith a flat or satin finish. Paintwith a flat finish helps hideflaws; however, it does notwash as well as paint withmore shine. Paint with a satinfinish is a great multi-purpose
paint. It doesn’t expose flawsas much as higher gloss paint,and it cleans easily. Satin isgenerally the paint of choice inall room except the kitchen andbathroom where semi-glosspaints are generally used fortheir water resistant and highclean ability factors.
Now that you have yourpaint and your supplies it’stime to take a hard look at yourwalls. Remove all decorations,curtain rods, nails, screws andany other non-permanent mis-cellaneous items. Pull furnitureaway from the walls, andremove from the room if possi-ble. Once the walls are bareremove any obvious dust, cob-webs or other debris. If you arepainting a kitchen or other areawith extremely dirty walls youwill need to wash the wallswith warm soapy water to stripaway the grime. Allow thewalls to dry thoroughly beforepainting! Patch any holes withjoin compound. Allow the jointcompound to dry thoroughlyand then sand smooth.
Now it is finally time topaint! Spread your dropclothes out to protect flooringand furniture.
Basic painting tips
The Mumbai FilmFestival gets underwaywith organisers hoping
to raise the profile of the eventand bring it on par with otherfilm festivals in the country.
The festival, which hasgrown in stature in the pastcouple of years, opens withDavid Fincher's "The SocialNetwork" and will featuremore than 200 films from 59countries being screened overseven days.
Festival Director SrinivasanNarayanan told Reuters morethan 4,000 delegates had regis-tered and more than 100 guestswere expected from othercountries for the 12th edition ofthe festival. Bollywoodcelebrities are also expected toattend.
"Being in close proximity toBollywood does help the event.We want young filmmakers tobe a part of the festival becausethey are, after all, the face ofthe Indian film industry,"Narayanan said.
An all-woman jury, led byAcademy Award winningdirector Jane Campion, willchoose the winner of theInternational Competition forfirst-time directors, wherefourteen films are in the run-ning.
Indian actor Aamir Bashir'sdebut film as director "Harud"(Autumn) is also part of thecompetition, the prize moneyfor which totals $200,000.
Aparna Sen's "Iti Mrinalini"starring Konkona Sen Sharmaand Vinay Shukla's "Mirch"will also be screened at the fes-tival. Other notable filmsinclude Alejandro GonzalezInarritu's "Biutiful" and SofiaCoppola's "Somewhere",which won the Golden Lion atthe Venice Film Festival thisyear. Academy Award winningdirector Oliver Stone will con-duct a master class during thefestival and will be honouredwith a lifetime achievementaward. Indian actor ManojKumar will also be honoured.
Neither Salman Khannor Ranbir Kapoor andnot her co-star Imran
Khan could come to her res-cue when she needed it themost. But it was the Pakistanisinger turned actor Ali Zafarwho became her saviour as
Katrina had a minor accident.It all transpired on the sets
of ‘Mere Brother ki Dulhan’.As per reports, Katrina wasstanding close to a pedestalfan and all of a sudden herhairs got entangled and werebeing sucked in. A hugemishap may have occurredhad Ali Zafar not instantlyleapt to her rescue.
Ali Zafar helped her hair get
untangled and in the processhimself suffered from bruises.
A local spot boy also playedhis part and got injured.Katrina was overwhelmedwith gratitude and gave Ali atight, warm hug. However, thespot boy wasn’t that fortunate.
It was Katrina’s way of pro-fessing her gratefulness and ofcourse, Ali is not complain-ing.
On hindsight, he must haveenjoyed the hug. Ali, whomade his Bollywood debutwith ‘Tere Bin Laden’ is play-ing Imran Khan’s brother in‘Mere Brother ki Dulhan’which is, currently, in thepipeline.
Ali Zafar comes toKatrina’s rescue
Johnny Depp
eyes Thin
Man remake
Johnny Depp and directorRob Marshall, now in pro-duction on the fourth "Pirates
of the Caribbean" movie, willreunite on a remake of the classicprivate eye movie "The ThinMan."
The Warner Bros. project is outto writers for a take that wouldgive a Sherlock Holmes treat-ment (meaning to contemporizethe attitude but retain the periodsetting) to the story.
The property is based on a1934 Dashiell Hammett novelthat centered on former privatedetective-turned-professionaldrunkard Nick Charles, his love-ly socialite wife Nora and theirschnauzer Asta. The coupleinvestigates a murder involvingan eccentric inventor and hisbizarre family.
Hammett never wrote a sequel,but a 1934 movie, which starredWilliam Powell and Myrna Loy,spawned five. A TV show fol-lowed in the 1950s.
Salman, Akkiplay pranks
on Katrina
Come “Tees Maar Khan”and fans of both SalmanKhan as well as Katrina
Kaif will get to see theirfavourite stars together onscreen.
Movie is directed by FarahKhan and as we know thatFarah is on very good termswith both the actors, peoplesaid that it could have beenonly her who could achievedthis mean feat of bringing thestars together.
During the shooting of aQawwali number recently inGoregaon Film City. Salmanand Akshay Kumar were alwaysup to pranks during the shootingof the song; rather, while allthree were dancing, suddenlySallu and Akki took a towel andstarted the famous towel dancefrom “Mujhse Shaadi Karogi”.
Katrina also told us that dur-ing the shoot, both males werebehaving as if they wereteenagers. The look of Katrinais modelled on the similar lookof Meena Kumari which shedonned in the film Pakeezah.Salman and Akshay had to wearcolourful tapori style shirts.
The song has been choreo-graphed by Farah Khan and isconsidered to be the USP ofthe film.
MUMBAI: Indian Bollywood film actors and cast members Hrithik Roshan and AishwaryaRai Bachchan attend a musical evening featuring the soundtrack of Guzaarish.-Reuters
Mumbai film festival to
open with Social Network
Shah Rukh Khan will becelebrating his 20th wed-ding anniversary October
25 without his wife. The actorwill be working on that day. Heis shooting with PriyankaChopra, Boman Irani and LaraDutta for Don 2 in Berlin,Germany. However, on hisbirthday November 2 KingKhan will have the company ofhis loved ones.
Two days before his birthday,SRK will fly to Rome for aspecial screening of My NameIs Khan (MNIK) at the interna-tional film festival being heldin the Italian capital. His wifeGauri and children Aryan andSuhana, as well as friend KaranJohar will join him there.
On a breakWhile Shah Rukh has
requested a three-day break
from his producers RiteshSidhwani and Farhan Akhtar tovisit Rome for the film festivaland celebrate his birthday withhis family, KJo is taking a shortbreak from shooting his TVshow Koffee With Karan 3 tobe there. Later, the group willtravel back to Berlin togetherwhere KJo and Gauri haveplanned a party with closefriends (the cast and crew ofDon 2).
Karan confirms, "We areexcited that MNIK will beshown at the international filmfestival in Rome. Post-November, the film will bereleased in theatres across Italyfor the first time.
After the screening, all of uswill fly down to Berlin to bringin Shah Rukh's birthday. WhileI will leave after that to spend
Diwali with my mom in India,Gauri and the kids will stayback in Berlin to celebrateDiwali with Shah Rukh."
What gift has he planned forSRK? He laughs, "Haven'tdecided as yet. What can Igive a man like Shah Rukh "barring unconditional love?"And of course the fact thatMNIK is the Hindi film whichhas grossed the most interna-tionally, till now. According totrade circles, MNIK hasgrossed over 22 million USdollars.
Karan adds, "When I wasmaking it, I knew it was aglobal film which had ahumanitarian message thatwould penetrate deep andwide and prick many people'sconscience. I am gratified thatit has achieved that."
SRK not celebrating weddinganniversary with Gauri
Mumbai: Bollywood actor
Rahul Khanna gestures to
Indian model Lisa Ray as
they pose while attending
a promotional event on
breast cancer awareness
in Mumbai. -Reuters
BERLIN: Bollywood actor Shah Rukh Khan and co-star actress Priyanka Choprapose during a photo call in Berlin. -Reuters
KUALA LUMPUR: Globalvegetable oils stayed justbelow their two year highs onFriday as traders awaited moresigns of continued demandfrom China for agriculturecommodities and a strongercrude oil market.
China, over the past week,purchased large quantities ofsoybeans to satisfy strongcooking oil and animal feeddemand -- helping boost veg-etable oil markets.
The rally was also supportedby a general weakness in theUS dollar, making palm oil,soybeans and soyoil cargoespriced in that currency cheap-er.
The benchmark January2011 crude palm oil on theBursa Malaysia DerivativesExchange ended 0.6 per cent
higher at 3,007 ringgit($968.7) -- hovering below amore than two-year high of3,021 ringgit hit the previousday.
Volume was heavy with14,048 lots of 25 tonnes eachtraded versus the usual 10,000lots.
Palm oil would stay above3,000 ringgit as cargo survey-ors Intertek Testing Servicesand Societe Generale deSurveillance issue Oct. 1-25export figures from Malaysia,which are expected to showmore demand from China,
traders said.US soyoil for December
delivery rose 0.7 per cent onstrong demand from China,while Dalian CommodityExchange's most active soyoilfutures eased from 26-monthhighs to trade at 9,244 yuan($1,390) per tonne.
"Imports of vegetable oil aregetting more expensive andlocal prices have gone up by10 per cent," an oil analyst inShanghai said. "The Chinesegovernment may release morevegetable oil state reserves tolimit the price rise." -Reuters
Palm holds above 3,000rgt on China demand
9Saturday, October 23, 2010
POLYPROPYLENE(PP) LINEAR LOW (LL)
Cash & Settlement 1260 1170
October (3rd Wednesday) 1270 1175
November (3rd Wednesday) 1280 1185
LONDON METAL EXCHANGE (PLASTIC)
LME Official Prices, US$ per tonne for October 21 2010
LME Official Prices, US$ per tonne for October 21 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC
ALLOY
Cash buyer 2210 2347 8405.5 2473 23710 26850 2456 2275
Cash seller 2220 2348 8406 2475 23715 26900 2457 2276
3-months buyer 2200 2380 8423 2506 23750 26900 2490 2310
3-months seller 2210 2380.5 8424 2507 23800 26950 2490.5 2320
15-months buyer 2165 2405 8270 2493 23175 26375 2527 2365
15-months seller 2175 2410 8280 2498 23275 26425 2532 2375
27-months buyer 2165 2458 7915 2468 22125 2500 2415
27-months seller 2175 2463 7925 2473 22225 2505 2425
LONDON METAL EXCHANGE (METALS)
NEW YORK: Oil pricesedged higher in choppy tradingon Friday, supported by posi-tive German business senti-ment data as the dollar indexseesawed ahead of a G20finance ministers' decision oncurrencies.
Investors were eyeing aGroup of 20 meet-ing in SouthKorea that lookedunlikely to reach adeal on a US-ledinitiative for acommitment fromemerging coun-tries to allow theircurrencies to rise.
Failure to reach a deal oncurrencies in South Koreacould weigh further on the dol-lar, analysts said.
US crude for Decemberdelivery rose 40 cents, or 0.5per cent, to $80.96 per barrelby 1607 GMT. In London, ICEBrent December crude rose 43cents, or 0.53 per cent, to$82.26 a barrel.
"Participants are waiting tosee how much money the Fedis going to run off, hoping thatit will give a directional cue forthe dollar and subsequentlyoil," Mike Fitzpatrick, vice
president at MF Global in NewYork, said in a note.
Analysts expect US FederalReserve to take up the questionof another round of govern-ment debt purchases, or quanti-tative easing, at its policymeeting on Nov. 2-3.
"The developing currency
war and the devaluation war isthe single most important fac-tor for the oil market besidesmaybe the rate of Chinese eco-nomic growth," said EugenWeinberg, commodities ana-lyst at Commerzbank, adding,"the negative correlation issustainable in the longer term."
While currency disputeshelped keep markets on edge, thebattle in France over pensionchanges also supported oilfutures. Refinery outages andtanker disruptions in France con-tinued with unions signalingtheir determination to keep fight-
ing even if president NicolasSarkozy's unpopular pensionreform becomes law on Friday.
Sources had mixed viewsabout whether oil was beingsupported by a threat fromTropical Storm Richard in theCaribbean Sea. The storm wasexpected to strengthen into a
hurricane thisweekend andhit Mexico'sY u c a t a nPeninsula onMonday.
After cross-ing theYucatan, theremnants of
Richard could emerge inMexico's oil-rich Bay ofCampeche and possibly threat-en US oil and natural gas pro-duction facilities in the north-ern Gulf of Mexico, the USNational Hurricane Center andsome computer weather mod-els forecast.
At 1930 GMT on Friday,investors will receive anupdate from the CommodityFutures Trading Commissionon positions held on the NewYork Mercantile Exchange bymoney managers as of lastTuesday. -Reuters
Oil edges up on Germandata as dollar seesaws
Europeanvegetableoil prices
ROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 21:00 PST.
SOYOIL: EU degummedeuro tonne fob exmillNov10/Jan11 851.00,Feb11/Apr11 855.00+5.00.
RAPEOIL: Dutch/EU eurotonne fob exmill Nov10/Jan11860.00+15.00, Feb11/Apr11843.00+5.00, May11/Jul11845.00+5.00, Aug11/Oct11830.00+0.00.
SUNOIL: EU dlrs tonneextank six ports optionJan11/Mar11 1305.00+10.00,Apr11/Jun11 1295.00+10.00,Jul11/Sep11 1305.00+5.00.
LINOIL: Any origin dlrstonne extank RotterdamOct10/Nov10 1307.50-5.00.
CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Oct101025.00+2.50, Nov101015.00+5.00, Dec101015.00+7.50, Jan11/Mar111010.00+7.50.
PALMOIL: RBD dlrs tonnecif Rotterdam Dec10 1045.00,Jan11/Mar11 1040.00.
PALMOIL: RBD dlrs tonnefob Malaysia Dec101000.00+5.00, Jan11/Mar11995.00+5.00.
PALM OLEIN: RBD dlrstonne fob Malaysia Dec101010.00+5.00, Jan11/Mar111005.00+5.00, Apr11/Jun111007.50+5.00.
PALM STEARIN: Dlrs tonnefob Malaysia Nov10997.50+2.50, Dec10997.50+2.50.
COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1445.00+5.00,Nov10/Dec10 1445.00+5.00,Dec10/Jan11 1445.00+5.00,Jan11/Feb11 1445.00+10.00.
CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 1925.00+0.00. -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
22-Oct-2010 CRUDE100 NO10 US$ Per Barrel 81.75 82.40 80.20 81.65 278 81.03 81.65 40
22-Oct-2010 CRUDE100 DE10 US$ Per Barrel 82.37 83.10 81.02 82.42 46 81.80 82.42 10
22-Oct-2010 CRUDE100 JA11 US$ Per Barrel 82.19 83.06 82.19 83.06 - 82.41 83.06 -
22-Oct-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 23.78 23.78 23.21 23.21 - 23.26 23.21 -
22-Oct-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 23.82 23.95 22.95 23.21 67 23.26 23.21 88
22-Oct-2010 GOLD 01oz NO10 US$ Per Troy Ounce 1338.50 1347.00 1315.70 1326.10 542 1325.80 1326.10 601
22-Oct-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1339.00 1347.10 1315.90 1326.60 2,538 1326.40 1326.60 785
22-Oct-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1340.50 1348.10 1316.70 1327.40 2,116 1327.20 1327.40 1,114
22-Oct-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1340.10 1340.10 1326.10 1326.10 - 1325.80 1326.10 -
22-Oct-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1340.70 1342.00 1317.00 1326.60 20 1326.40 1326.60 6
22-Oct-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1341.60 1341.60 1326.60 1326.60 - 1327.20 1327.40 -
22-Oct-2010 GOLD NO10 Per 10 grms 36754.00 37137.00 36478.00 36736.00 20 36739.00 36736.00 53
22-Oct-2010 GOLD DE10 Per 10 grms 36623.00 37147.00 36623.00 36745.00 2 36748.00 36745.00 7
22-Oct-2010 GOLD JA11 Per 10 grms 37165.00 37165.00 36763.00 36763.00 - 36765.00 36763.00 -
22-Oct-2010 Kilo GOLD NO10 Per 10 grms 37110.00 37110.00 36708.00 36708.00 - 36711.00 36708.00 1
22-Oct-2010 Tola Gold50 NO10 Per Tola 43295.00 43295.00 42816.00 42816.00 - 42819.00 42816.00 -
22-Oct-2010 Tola Gold100 NO10 Per Tola 43284.00 43284.00 42816.00 42816.00 - 42819.00 42816.00 -
22-Oct-2010 Mini Gold 1-Aug Per 10 grms 38172.00 38172.00 37753.00 37753.00 - 37756.00 37753.00 -
22-Oct-2010 Mini Gold 2-Aug Per 10 grms 38210.00 38210.00 37791.00 37791.00 - 37794.00 37791.00 -
22-Oct-2010 Mini Gold 3-Aug Per 10 grms 38223.00 38223.00 37803.00 37803.00 - 37807.00 37803.00 -
22-Oct-2010 Mini Gold 4-Aug Per 10 grms 38236.00 38236.00 37816.00 37816.00 - 27820.00 37816.00 -
22-Oct-2010 Mini Gold 5-Aug Per 10 grms 38159.00 38159.00 37829.00 37829.00 - 27833.00 37829.00 -
22-Oct-2010 TT Gold 1-Sep Per Tola 43547.00 43855.00 42944.00 43367.00 3 43370.00 43367.00 3
22-Oct-2010 TT Gold 2-Sep Per Tola 43650.00 43900.00 43410.00 43410.00 1 43414.00 43410.00 1
22-Oct-2010 TT Gold 3-Sep Per Tola 43914.00 43914.00 43425.00 43425.00 - 43429.00 43425.00 -
22-Oct-2010 IRRI6W 28OC10 Per 100 kg 2402.00 2402.00 3200.00 3206.00 - 3200.00 3206.00 -
22-Oct-2010 Rice IRRI - 6 NO10 Per 100 kg 3228.00 3228.00 3227.00 3227.00 - 3228.00 3227.00 -
22-Oct-2010 RBD Palm Olein NO10 Per Maund 4438.00 4438.00 4437.00 4437.00 - 4438.00 4437.00 -
22-Oct-2010 KIBOR3M 10-Dec Per Rs. 100 86.71 86.72 86.71 86.72 - 86.71 86.72 -
22-Oct-2010 KIBOR3M 11-Mar Per Rs. 100 86.15 86.15 85.75 85.75 - 85.75 85.75 -
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Indian sugar
eases on weak
demandMUMBAI: India's spot sugaredged lower on Friday on weakdemand, though a delay in canecrushing and hopes of animprovement in festive demandnext week restricted the down-side, dealers said.
Demand for sugar usuallygoes up ahead of Diwali, theHindu festival of lights, whichfalls in the first week ofNovember. India, the world'sbiggest consumer of the sweet-ener, has made available 1.75million tonnes of sugar for salein open market for October,lower than 1.85 million tonnesit had released a year ago, thegovernment said in a statement.
In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyedged 0.35 per cent lower to2,589 rupees ($58) per 100 kg.
Fresh showers in India's keysugar producing states ofMaharashtra and Karnataka arelikely to delay cane crushing,industry and government offi-cials told Reuters.
India's sugar inventoryjumped 36 per cent to 6.4 mil-lion tonnes on Sept. 1 from ayear ago, industry sources toldReuters on Thursday. -Reuters
SLOVENIA: Farmers sort cabbage harvested from a field on the back of a truck near Ljubljana. -Reuters
NEW YORK: US cottonfutures closed higher Thursdayon suspected trade/mill andspeculative buying as the mar-ket defied losses in other com-modity markets and thestronger dollar to march high-er, analysts said.
ICE Futures US keyDecember cotton contractincreased 1.45 cents to close at$1.1571 per lb. The contracttraded from $1.1426 to $1.176.Volume traded in the cottonmarket stood at 22,147 lots, lessthan half a per cent below the30-day average at 22,263 lots,
preliminary Thomson Reutersdata showed. Sharon Johnson,cotton expert for First CapitolGroup in Atlanta, said some"spec business and mill busi-ness" pushed the market higher.Another source of support camefrom the US AgricultureDepartment's weekly exportsales report, dealers said.
USDA said total US cottonsales at 600,800 running bales(RBs, 500-lbs each), from lastweek's 647,000 RBs. Cottonbrokers had been expectingtotal US cotton sales to rangefrom 400,000 to 500,000 RBs.
US cotton futures were alsogiven a boost by steadier pricesin the Chinese cotton market.The Zhengzhou CommodityExchange's May cotton futureswas last traded at 24,995 yuanper tonne, up 915 yuan from itsprevious close.
Fundamentally, the cottonmarket digested a survey thatChinese analysts expect thecountry's cotton production in2010/11 to reach 6.45 milliontonnes, below the estimate bythe US Agriculture Departmentforecast of 6.976 milliontonnes. -Reuters
US cotton ends up
LONDON: Copper firmed onFriday but gains were cappedas the dollar steadied and focusshifted to a Group of 20 meet-ing in South Korea.
Benchmark copper on theLondon Metal Exchangeclosed at $8,335 a tonne from aThursday close of $8,307. TheMetal used in power and con-struction hit $8,492 onTuesday, its highest since July2008.
Lead hit a nine-month highwhile zinc hovered close tosix-month peaks. The metalsrallied on the back of a shut-down by China's third-largestlead and zinc smelter.
"Clearly dollar is playing arole at the moment in pricemoves," David Wilson, an ana-lyst at Societe Generale, said.
"(Copper) is pausing forbreath waiting to see what hap-pens ...with the G20 meeting.There are bigger picture issuesof further US quantative eas-ing but we have to wait untilthe beginning of November tosee any clearer decision there."
"We are still slaves to themacro picture," Robin Bhar,analyst at Credit Agricole,said. "Although nothing isexpected, trade is a bit con-cerned that just when theythink nothing will happen,something might," he saidabout the G20 meeting.
The fundamental picture forcopper is providing support forprices. The latest report fromthe International Copper StudyGroup showed the marketdeficit widened to 356,000tonnes between January andJuly this year, more than twicethe level seen at the same timelast year.
Copper inventories held inLME-bonded warehouses fellby 1,175 tonnes to 368,825tonnes, the lowest levels in oneyear, the latest data showed.They have now subsided by athird from cycle highs above555,000 tonnes in mid-February.
Across other metals, alu-minium closed at $2,365 atonne from a close of $2,364on Thursday.
Lead hit its highest sinceJanuary at $2,548 a tonne andclosed at $2,530, up fromThursday's close of $2,485.
Zinc at $2,512, was up from$2,474 on the close onThursday, but below six-monthpeaks of $2,540.25 earlier.
Nickel, at $23,225, fell from$23,550 due to a lack of appar-ent demand.
Tin closed at $26,400 from$26,500. It reached its mostrecent record high of$27,338.50 on Oct. 14, amidfalling supply from top tinexporter Indonesia. -Reuters
Copper gainscapped by caution
before G20
Coffeeeases backfrom highs
LONDON: Arabica coffeefutures on ICE eased slightlybut remained near 13-yearhighs on Friday, underpinnedby supply concerns, while rawsugar consolidated just below a9-month peak set earlier thisweek.
Cocoa futures were higher,supported by constructivecharts while dealers kept closewatch on activity in top growerIvory Coast in the lead up toelections due later this month.
Dealers said the coffee mar-ket had attracted strong fundinterest this week as arabicaprices rallied to a 13-year highand robustas hit a 2-year highon Thursday.
ICE December arabicafutures traded down 0.65 centor 0.3 per cent at $2.0035 a lbat 1430 GMT. Liffe Januaryrobusta coffee was down $16 or0.85 per cent at $1,877 pertonne after setting a two-yearpeak for the benchmark secondmonth of $1,910 on Thursday.
Cocoa was higher with tech-nicals supporting further gains.
ICE December cocoa was up$33 or 1.2 per cent at $2,850per tonne. Liffe second-monthMarch cocoa was up 22 poundsor 1.1 per cent at 1,945 poundsa tonne.
New York cocoa is expectedto rally towards the Oct. 13high at $2,901 per tonne as it isback in the consolidation rangebetween $2,715 and $2,901,with strong momentum, saidTao.
ICE raw sugar were narrowlymixed, underpinned by tightsupplies and reports ofBrazilian buy backs fromindustry.
"Weather concerns in Brazilcontinue to impact the currentcrop, whilst also escalating therisk premium for the 2011 har-vest," Rabobank analyst AndyDuff said in a market note.
ICE March raw sugar futureswere down 0.10 cent or 0.35per cent at 28.25 cents a lb butother contracts were slightlyhigher. London Decemberwhite sugar was off $12.80 or1.8 per cent at $711.10 pertonne. -Reuters
LONDON: Gold prices stead-ied on Friday, recovering from2-1/2 week lows earlier in thesession, as the dollar fluctuatedagainst a currency basket amiduncertainty ahead of this week-end's G20 meeting in SouthKorea.
Investors are wary aboutwhether any clear agreement totackle currency imbalanceswill be reached at the meeting.
Spot gold was bid at$1,322.45 an ounce at 1549
GMT, against $1,323.60 late inNew York on Thursday, havingearlier fallen as low as$1,315.09. US gold futures forDecember delivery fell $2.70an ounce to $1,322.90.
"The dollar's been a veryimportant driver for sure," saidStandard Chartered analystDaniel Smith. "I tend to thinkwe might see a bit more weak-ness in gold in the short term."
"There are a lot of bullishstories out there for gold, but Ithink the price has run up toofast and we're just goingthrough a period of consolida-tion now."
Spot prices rallied sharply toa record $1,387.10 an ouncelate last week but have strug-gled to maintain traction as thedollar rebounded from lowsamid fears expected US mone-
tary easing had been too heavi-ly priced into the market.
Gold priced in euros fell toits lowest since mid-August,meanwhile, at 946.12 euros anounce.
Good physical demand fromtraditional bullion-buying cen-tres such as India is strengthen-ing as prices descend, which islikely to support the marketabove $1,300 an ounce.
The world's largest gold-backed exchange-traded fund,
New York's SPDR Gold Trust,saw a further drop in its hold-ings on Thursday, however.Gold held by the fund dropped0.9 tonnes, its 11th session ofoutflows in 15.
Among other precious metals,silver was bid at $23.11 anounce against $23.18 and washeading for its biggest weeklyloss since early July as it fol-lowed gold prices lower. Theratio of gold to silver -- the num-ber of ounces of silver needed tobuy an ounce of gold -- rebound-ed from its lowest in more thantwo years to reach a 10-day highat just over 57 to 1 on Friday assilver underperformed gold in afalling market. Elsewhere plat-inum was at $1,671.67 an ounceagainst $1,665.95, while palladi-um was at $589.00 versus$581.53. -Reuters
Gold recovers from2-1/2 wk low, eyes $
Tokyo rubber
ends lower,
down on wkBANGKOK: Tokyo rubberfutures ended lower on Fridayas players liquidated contractsto avoid risk, and oil pricesfailed to lend much support,dealers said.
The benchmark contract onthe Tokyo CommodityExchange for March deliveryfell 0.7 yen to settle at 333.8yen ($4.10) per kg, losing 2.24per cent in its biggest weeklyfall since July.
The most active Shanghairubber futures contract forMarch delivery fell 170 yuan tosettle at 31,000 yuan ($4,661)per tonne, losing 2.59 per centon the week, also the biggestweekly fall since July.
Oil rose marginally on Fridayas the dollar weakened, afterjobs and business activity datasignalled the US economywould require additional stimu-lus. At 0848 GMT crude was at$80.84 a barrel, up 28 cents onthe day. -Reuters
G20 finance minister’s meeting on currencies eyed
10Saturday, October 23, 2010
Athletes pose after winning at ArtisticGymnastics World Championships
Anotherretirementdecision
pulled backKARACHI: Former Pakistancaptain Younus Khan is pre-pared to represent his countryin any form of cricket includ-ing Twenty20 after beingrecalled to the national sidefollowing an indefinite sus-pension.
Younus, 32, who led hiscountry to the Twenty20World Cup in England lastyear, was banned for indisci-pline following Pakistan'sunsuccessful tour of Australiathis year.
He was recalled onWednesday for a forthcomingseries against South Africa inplace of Mohammad Yousuf,who is unfit.
"It is good to be back in theteam. I am ready to play in anyform of cricket, whether it isT20, T10 or test matches if themanagement and board wantsme," Younus told reporters inLahore.-Reuters
Dewdefeated
us: ClarkeNEW DELHI: Australianskipper blames dew and dampconditions for the defeat theytook against India the otherday, though he was quitehappy with his performanceas he managed a ton in theone-dayer.
"I haven't spent much timein the middle in the Testseries. But it wasn't easy bat-ting first. It was hard trying toclear the in field and getboundaries. With conditionslike that and the heat we justwere trying to hang in there.We knew that if we had wick-ets in hand we could put up adecent total by maximisingour total in the last 10 oversand we did that," he said.
Clarke was all praise forCameron White. "Whiteplayed really well, probablyas good an innings I've seenin One-day Internationalcricket. But unfortunately itwasn't enough runs. We allcould have done better. Wehad two guys who made theirdebut and they tried reallyhard," he said.
The stand-in skipper, how-ever, said it was unfortunatethat they had end on the los-ing side despite scoring 289 in50 overs.
"We do take a lot out of thismatch. We didn't get what wewanted and that was to winthe game. But we can take alot of positives," he said. Onthe target they set for Indiawas good enough too, feltClarke. "I thought 290 was agood score. The wicket quick-ened out throughout the gameonce the dew set in and lightscame on. The ball was comingon to the bat and it was a bet-ter wicket to bat in the secondhalf of the game," he said.
MADRID: Lionel Messi'sseemingly endless love affairwith the Champions Leaguecontinued with another virtu-oso two-goal performance onWednesday for Barcelona.
Two typically ruthless finish-es earned the 2009 championsa 2-0 Group D victory over FCCopenhagen to propelBarcelona a point clear of theDanes at the top of the stand-ings with seven from a possi-ble nine after three games.
Messi once again proved thedifference for his club as hehas so often already this seasonafter what was, by his sky-highstandards, a wretched WorldCup for Argentina in June.
Top scorer in last season'sChampions League, the for-ward netted his third goal ofthe latest edition in the 19thminute when he controlled apass from Andres Iniesta and
lashed the ball into the top leftcorner from just outside thearea.
The home side controlled therest of the match comfortablyenough but lacked their usualcutting edge and Messi had towait until second-half addedtime for his second of the nightand 27th in 35 ChampionsLeague games over the lastfour seasons.
A miscued shot from full-back Eric Abidal bounced overJohan Wiland and fell toMessi, who bundled it over theline with theCopenhagen keep-er stranded.
"Although we had control,the murmurings in the standswere because we didn't kill offthe game and we could haveended up with only a point,"Barca coach Pep Guardiolasaid at a news conference.
"We simply didn't put the
ball in the net (in the firsthalf)," he added. "But that's theway it is sometimes and weplayed a good match overall."
TORRID TIMEWith Xavi suffering from an
ankle problem, Guardiola leftthe Spainplaymaker out of hisstarting 11 and fielded JavierMascherano,Sergio Busquetsand Maxwell across the mid-field.
Andres Iniesta was deployedjust behind forwards Messi andDavid Villa and Spain strikerVilla almost grabbed the leadin the fifth minute when hetwisted and turned inside thearea before curling a shotagainst the crossbar.
Copenhagen, who had neverbeaten a Spanish club in sixprevious meetings, posed moreof a threat in the second halfand the impressive DameN'Doye gave Barca's Spaincentral defenders Gerard Piqueand Carles Puyol a torrid time.
The Senegalese striker cameclose to a shock equaliser inthe 67th when he cracked theball against the bar from dis-tance and Barca goalkeeperJose Manuel Pinto, playing inplace of the unwell VictorValdes, had to be alert to dealwith a long-range effort fromCopenhagen captain William
Kvist in the 87th.Barca fullback Daniel Alves
struck a post with a low drivetwo minutes later beforeMessi's second killed off thegame.
"In the second half we man-aged to get a good rhythm andwe had some chances,"Copenhagen coach StaleSolbakken, who cut an animat-ed figure on the touchline, tolda news conference.
"The players can be proud oftheir performance. They werefacing the best team in theworld."
With three of six matchesplayed, Barca have sevenpoints and Copenhagen aresecond on six. Rubin Kazan,who held Barca 1-1 at home onmatchday two, have two pointsand Panathinaikos one after thepair drew 0-0 in Athens onWednesday.-Reuters
Messi spicing up Champions League
KARACHI: More than 300swimmers will be featuring inthe 50th Sindh Open and JuniorAge Group SwimmingChampionship which opens atKarachi Gymkhana pool fromSaturday.
"We have received a recordnumber of entries this year andexpecting a tough contestbetween men and junior swim-mers," Secretary SindhSwimming Association (SSA)Muhammad Ali Shishmahalsaid on Friday.
He said the event will be con-tested in under 8, 10,12, 14, 16for boys and Open Age groupfor men. A total of 65 eventswill be part of the swimminggala.
The events include freestyle,backstroke, breast stroke, but-terfly, individual medley andboth freestyle and medleyrelays will be part of the cham-pionship.
The prominent swimmerstaking part includeInternationals Mazhar Naqvi,who grabbed seven gold in AllKarachi SwimmingChampionship with AniqAnwer, Ghulam Muhammad,Faiz Khalil and SulemanSaadat.
Mazhar Naqvi and AniqAnwar had represented Pakistanin World Junior Swimming inManchester (England) a fewyears ago and got potentialahead of them.-APP
Sindh swimmingc’ship starts today
SAN DIEGO: Los AngelesLakers guard Sasha Vujacic isengaged to marry MariaSharapova after the Sloveniantold reporters before an exhi-bition game on Thursday thatthe Russian former tennisworld number one hadaccepted his proposal.
Prior to the game againstthe Golden State Warriors inSan Diego, Vujacic said that
the three-time grand slamchampion had said "yes' to his"old-school" proposal, addingthat they were both "reallyhappy".
The 26-year-old Vujacicproposed on the couple's one-year anniversary of meeting ata friend's barbecue and theirengagement was also con-firmed by the team's officialwebsite reporter Mike Trudellon his social networking page.
No date has been set for thewedding.
The 23-year-old Sharapova,currently ranked number 18
in the world, won theWimbledon title in 2004, theUS Open crown in 2006 andthe Australian Open in 2008.-Reuters
Sharapovaengaged
in love match
Monitoring Desk
KARACHI: After consistentlyaccusing BCCI of bias and prej-udice, ousted IPL commissionerLalit Modi pulled a surprise inthe Supreme Court by suggest-ing that moves were afoot tobring about an amicable settle-ment with the board.
BCCI's counsel, senior advo-cates CS Sundaram and MukulRohatgi, who had come pre-pared to slug it out before aBench comprising Justices JMPanchal and Gyan Sudha Misra,not only expressed surprise atthe suggestion of Modi's coun-sel Ram Jethmalani but werequick to rubbish the claim.
Sundaram and Rohatgi relent-ed only after Jethmalani clari-
fied that he was attempting asettlement at his personal level,clearing the way for the benchto adjourn the case by a week.
Jethmalani's claim was seenas signalling Modi's anxiety fora truce with the BCCI at a timewhen the EnforcementDirectorate has stepped up thepressure on him to return fromabroad and face investigation.
BCCI sources said the issue ofa patch-up figured just as a pass-ing mention in a meetingJethmalani had with Arun Jaitleyon Wednesday. The two lawyershad met to discuss the issue ofmoving a petition seeking bailfor Amit Shah, former Gujaratminister and Jaitley's BJP col-league, who is another high-pro-file client of Jethmalani.
Lalit Modisurrenders
Abbas calledfor nationalHockey team
LAHORE: The training campof National Hockey Teamwould begin from October 25in Islamabad, Hockey federa-tion has called plenty strokespecialist Sohail Abbas to thecamp.
Chief Selector of PakistanHockey team Hanif Khan saidthat federation has summonedSohail Abbas on the basis ofhis best performance inCommon Wealth Games(CWGs).
He said that Sohail Abbas isa world class player and teamrequires his services for AsianGames.-Online
Staff Reporter
KARACHI: OffscreenExpeditions UK has sent sixaspiring British creative-men toparticipate in the journey of alifetime to Pakistan, it has beenlearnt.
A team of 18-21-year-olds areexploring Pakistan away fromthe headlines. Going beyond'cricket, curry and terrorism' -the three words they came upwith which are commonly asso-ciated with Pakistan in theircountry - and will create a first-hand portrait of Pakistan to edu-cate and inspire their peers inthe UK.
The talented group of aspiringphotographers, artists, musi-cians and a fashion designerwill focus on challengingimportant issues faced bytoday's youth in the UK and
Pakistan such as access to edu-cation and employment, terror-ism and gang culture.
Following on from a success-ful visit by Pakistani students tothe UK this summer, OffscreenExpeditions, a UK-based not-for-profit organisation workingin partnership with the BritishCouncil, chose the team todevelop UK-Pakistan relationsbeyond common mispercep-tions. The group are travellingacross the country meeting stu-dents, artists, social entrepre-neurs, imams and politicians.
Offscreen ExpeditionsDirector Jamie Buchanan-Dunlop explains; "This yearPakistan has seen a lot of mediaattention, from the floods, to thecricket scandal to the devastat-ing impact terrorism has had onits people and culture. By tak-ing the young community lead-
ers of tomorrow to Pakistan,they will be able to form theirown views and help buildunderstanding between youngpeople in both countries."
In Mirpur, a region withstrong links to the UK, the sixwill visit a 'madrassa'. Therethey will meet students andimams to debate the differentinterpretations of Islam, andexplore how a minority ofscholars have manipulatedIslam to justify violence.
The students will also visitsome Mirpur-based social actionprojects. The projects, runthrough the British Council'sActive Citizen Programme, aresuccessful initiatives that sup-port young vulnerable people inAJK and provide them withalternative spaces away fromnegative influences they may beexposed to.
Going beyond cricket,curry and terrorism
MANCHESTER: WayneRooney performed a stunningU-turn on Friday by signing afive-year contract to stay atManchester United and end aweek of bombshells with yetanother shock.
The England striker hadlooked destined toleave Old Trafford inthe next transfer win-dow after saying onWednesday that hewanted to quit becauseof United's lack ofclout in attractingmore top players to theclub.
He attributed hischange of heart tomanager AlexFerguson, whomRooney called a"genius" and said had convincedhim that he belonged at United.
Ferguson, who had been visi-bly shaken this week whendescribing how his striker hadwanted to quit, said Rooney hadapologised to him and the play-ers and had changed his mindafter understanding "what a
great club Manchester Unitedis."
But Rooney, who earlier thismonth publicly contradictedFerguson by saying he was notinjured when his manager saidhe was, still faces the tricky jobof winning over fans who feel
betrayed."I'm delighted to sign another
deal at United. In the last coupleof days, I've talked to the man-ager and the owners and they'veconvinced me this is where Ibelong," Rooney said in a state-ment.
"I'm signing a new deal in the
absolute belief that the manage-ment, coaching staff, board andowners are totally committed tomaking sure United maintainsits proud winning history --which is the reason I joined theclub in the first place."
Ferguson had been locked intalks with chief exec-utive David Gill tosort out what he saidwas in danger ofbecoming a 'saga'.
His bemusementturned to delight,with a photo on theclub's website show-ing a beamingFerguson with hisarm around a smilingRooney after theannouncement of adeal that would keep
the player at the club until atleast June 2015.
"He apologised to me thismorning and the players and Ithink he'll do that with the fanswhich is important becausewe've all been hurt by the eventsof the last couple of days,"Ferguson told MUTV.-Reuters
Rooney staysUnited’s
BARCELONA: Lionel Messi celebrates his goal against FCCopenhagen during their Champions League Group D
soccer match at Nou Camp stadiumin.-Reuters
Striker signs 5-year contract
FIFA ranksPakistan
164thKARACHI: Pakistan is cur-rently ranked 164th in theworld football ranking of FIFA,according to the latest monthlyissue of the Federation receivedhere on Friday.
The table shows that Spaintops the list followed byNetherlands and Brazil whileIndia is placed at 138th.
The rankings are given onthe basis FIFA World Cup finalcompetition matches, FIFAWorld Cup qualifying match-es, continental championshipfinal matches, continentalchampionship and friendlymatches.-APP
Indiato tackle
Kiwis withhalf force
NEW DELHI: India will leaveout senior players from the one-day series against New Zealandstarting next month to preparethem for the tough tour ofSouth Africa, an official said onFriday.
New Zealand are due to playthree Tests in India fromNovember 4 to 24, followed byfive one-day internationalsfrom November 28 toDecember 10.
The last one-dayer will endjust six days before India begina three-Test series in SouthAfrica from December 16.
The Indian board plans tosend the top Test stars, possiblyeven skipper Mahendra SinghDhoni, to South Africa soonafter the New Zealand Testmatches end to get acclimatisedto the conditions.
Board official Ratnakar Shettysaid the request to send playersearly to South Africa had comefrom coach Gary Kirsten, a for-mer Proteas player.
"The plan now is to sendsome of the Test players early.The team management and thecoach expressed the desire thatthere is a need for acclimatisa-tion in South Africa," saidShetty."
The selectors have not yetdecided which players willmiss the one-dayers againstNew Zealand to make the earlytrip to South Africa.
India, the number one Testside, have never won a seriesin South Africa, who areranked second in the officialratings.-APP
Six UK students explore Pakistan
PCB officialsto meet on
Nov 1stLAHORE: Meeting of thegoverning body of PakistanCricket Board (PCB) is likelyto be held on November 1.
Chairman PCB Ijaz Butt willchair the meeting and all mat-ters related to PCB includingone month dead line by ICC toPCB to get their house in orderwould also part of the discus-sion agenda.
Decision regarding future ofplayers who were involved inmatch-fixing scandal, will also bediscussed in the meeting.-Online
11Saturday, October 23, 2010
International & Continuation
CONTINUATION
Germanbusiness
morale hits3-1/2 yr high
in OctBERLIN, Oct 22 (Reuters) -German business sentimenthit its strongest in 3-1/2 yearsin October and firms' expec-tations also improved, with akey survey on Friday suggest-ing that a recovery inEurope's largest economymay hold up better thanexpected.
The Munich-based Ifo thinktank's business climate index,which points to growth levelssix months ahead, climbed to107.6 from 106.8 inSeptember. That was its fifthincrease in a row and thehighest since May 2007.
The mid-range forecast in aReuters poll of 44 economistshad been for a slight fall to106.5.
The Ifo survey is one ofEurope's most influentialmonthly numbers for finan-cial markets and the surpriserise helped push up the eurobriefly against the dollar andpressured December Bundfutures
"Firms have once againgiven more positive assess-ments of their current busi-ness situation and their busi-ness expectations haveimproved," Ifo said in a state-ment. "The engine of eco-nomic activity is runningsmoothly."
An Ifo index for businessexpectations also rose unex-pectedly to 105.1 from 103.9,pointing to further stronggrowth and confounding expec-tations that a gloomy outlookfor Germany's trade partnerswould send the economy into asharp slowdown.-Reuters
GYEONGJU: The UnitedStates struggled on Friday towin backing for a proposal to setlimits on external imbalances asa way of pressing countries withsurpluses such as China to lettheir exchange rates rise.
In a letter to fellow financeministers of the Group of 20leading economies, US TreasurySecretary Timothy Geithner saidcountries should implementpolicies to reduce their currentaccount imbalances below aspecified share of national out-put.
Japanese Finance MinisterYoshihiko Noda said Geithner,backed by host South Korea,proposed limiting surpluses anddeficits on the current account -- the broadest measure of tradein goods and services -- to 4 percent of gross domestic product.
But the plan met with a coolreception on the first day of atwo-day meeting meant tosmooth the path for a G20 sum-mit in Seoul on Nov. 11-12.
Big exporting countries thathabitually run chunky trade sur-pluses led the opposition.
A G20 source said China wasagainst any limits on imbal-ances, German EconomyMinister Rainer Bruederlewarned of a throwback to"planned economy thinking",and Russian Deputy FinanceMinister Dmitry Pankin said adraft communique to be issuedon Saturday would steer clear ofnumerical targets.
"The communique is verypolitically correct. There's noth-ing sharp in it," Pankin said. "In
the long term the focus shouldbe on the exchange rates reflect-ing market conditions.Excessive state interference incurrencies should be avoided."
Noda also voiced scepticism."We doubt whether rigid numer-ical targets should be set. Butwhen checking the progress inrectifying imbalances, thatmight be an idea," he toldreporters.
DOUBTS ABOUND The criticism underscored the
difficulties facing the G20 as itstrives to put the world econo-my on a more stable footing anddefuse currency tensions thateconomists fear could triggertrade wars.
While the G20 won praise forcoordination of stimulus pack-ages during the global financialcrisis, its unity has been testedby low growth in rich countriesand attempts by some emergingmarket economies to preserveexport competitiveness by hold-ing down their exchange rates.
Saudi Arabia, Germany andRussia are the G20 memberswith the biggest current accountsurpluses, but China is the chiefculprit in Washington's eyes --and the unspoken target ofGeithner's letter -- because ofmassive currency market inter-vention to keep a lid on theyuan.
Beijing has amassed $2.65trillion in official currencyreserves as a consequence, andprompted the US House ofRepresentatives to pass a billthreatening retaliation unlessChina lets its currency off the
leash to reduce its huge tradesurplus with the United States.
G20 countries, Geithner said,"should commit to refrain fromexchange rate policies designedto achieve competitive advan-tage by either weakening theircurrency or preventing theappreciation of an undervaluedcurrency".
Chinese officials made nopublic comment, but a G20source said Beijing was opposedto any communique that explic-itly bound countries to limits oncurrent account balances or anyother form of rules on currencypolicy.
The source, with direct knowl-edge of the talks, said the groupof rich and emerging economieswas split not only on the ques-tion of currencies but also onhow to give poorer countriesmore voting power at theInternational Monetary Fund.
"Positions are still very muchdivided. It's a rift down the mid-dle on both issues," the sourcesaid, predicting "bland" lan-guage in the closing commu-nique to paper over the cracks. LOOKING FOR CONSEN-
SUS Not everyone rejected the US
gambit out of hand. "At a time when people are
talking about currency wars, themerit of Geithner's proposal isthat it shifts the discussion backto the macroeconomic frame-work," a French official said.
Jim Flaherty, Canada'sfinance minister, said settingnumerical targets was a step inthe right direction. -Reuters
US plan fortrade targets hitsG20 headwinds
BEIJING: The global econo-my has yet to find its feet, withthe US recovery slowing andimbalances within the eurozone worsening, a Chinesecentral banker said in com-ments published on Friday.
In unusually candid remarks,Li Dongrong, an assistant gov-ernor of the People's Bank ofChina, also warned that a con-tinuation of ultra-loose policiesin rich countries might unleasha flood of capital inflows intoemerging economies.
Against the background of afragile global recovery, he saidthat China could not waverfrom its long-term plan toboost the yuan's internationalclout.
He offered a glum assess-ment of the state of the globaleconomy in the speech pub-lished on the central bank'swebsite (www.pbc.gov.cn).
"The foundations of therecovery are still not solid," Lisaid at a meeting with mem-bers of the Association ofSoutheast Asian Nations(ASEAN) earlier this week insouthern China.
"Recently, the US economicrecovery has slowed and theeffects of the government'sstimulus policy have beenunclear," he said.
Although European sover-eign debt worries had easedsomewhat, there was still nofundamental solution, he said,adding that imbalances in theeuro zone were becoming moresevere as Germany poweredahead while countries in south-ern Europe struggled.
Japan's economic growth
was also faltering, he noted."When the yen was recently
facing heavy appreciation pres-sure, the Japanese central bankhad no choice but to use 2 tril-lion yen ($24.6 billion) tointervene in its exchange rate,"he said in the first version ofthe speech published on thewebsite.
A later version did not con-tain the reference to Japan'sintervention on Sept 15.
Extremely loose monetarypolicies in the United Statesand Japan were presenting asharp challenge to developingcountries that are growingfaster, he said.
"Emerging markets willtogether face quite large capitalinflows as well as currencyappreciation and inflationarypressures," he said.
YUAN GOING GLOBALBeijing supported the greater
use of bilateral currency swapsto facilitate the expansion ofthe yuan's role, Li said.
"We will continue to signcurrency swap agreementswith relevant countries in linewith demands to support theuse of the yuan in cross-bordertrade and direct investment,"he said.
Since the global financial cri-sis in late 2008, China haslaunched a steady stream ofpolicy initiatives along the pathof making the yuan an interna-tionally accepted currency fortrade settlement to reducereliance on the dollar.
China has signed currencyswap deals with a handful ofcountries, including SouthKorea, Malaysia and
Argentina, and this year saidthat it would allow all foreigntrade partners to conduct theirdeals in yuan.
Separately, a former policyadviser to the PBOC said thatkeeping the yuan relatively sta-ble will be crucial for China'sdrive to gradually internation-alize the currency.
Bolstering the yuan's usagein international trade remainedthe near-term focus in theongoing program to increasethe yuan's global influence,said Li Yang, vice head of theChinese Academy of SocialSciences, a top governmentthink-tank.
"China should not onlyencourage financial institutionsto expand trade financing butalso create a stable internation-al environment for the interna-tionalization process by keep-ing the yuan's exchange raterelatively stable," Li said in anarticle published in theChinese-language Studies ofInternational Finance maga-zine.
Li's comments on the yuanechoed the official strategy ofgradually expanding the yuan'suse abroad while carefullymanaging its value versus thedollar at the same time.
Financial reforms to developthe yuan-denominated debtmarket would help boost itsattractiveness and achieve thelong-term goal of making it aglobal reserve currency, Li said.
"Up to now, the yuan haslimited reserve functions andhas yet to become an 'anchor'for other currencies," headded.-Reuters
China says globalrecovery shaky, to
spur yuan use
BSkyB, Britain's dominant pay-TV firm added 0.6 per cent afterposting strong first-quarter profits along with a better-than-expected rise in customers. On the second line, Micro FocusInternational was the top FTSE-250 riser, up 7.6 per cent withtraders citing talk that the business software group could be a tar-get for US firm IBM. Technical factors pointed to positive trendsfor the FTSE-100 index.
"The 20-day moving average currently around 5,661 acts as atrailing stop and still maintains a bullish bias," said NicolasSuiffet, an analyst at Trading Central. Reuters
Continued from page 5No #1
While firm support is seen at the index's 250-day moving aver-age at 2,888, some traders said the market needs to break through3,000 to make a more decisive move on the upside. "The resist-ance point is the key. If we cannot convincingly break above3,000 points by early next week, the index is set to trend lower,"said Chen Huiqing, analyst at Huatai Securities in Shanghai.
China's rate rise has left nagging concerns that monetary policywill be tightened again, especially after the central bank highlight-ed in a separate report risks from inflation and asset bubbles.
Analysts said these worries will weigh on banking and propertyshares, especially as the charts indicated that the market wasalready overbought. The 14-day relative strength index (RSI) wasat 75 on Friday, five points into overbought territory. HeavyweightAgricultural Bank of China and Minsheng Bank both dropped 1.1per cent. Coal and new energy issues extended gains on recentgovernment support plans. Shangxi Coal rose to its 10 per centlimit while Datong Coal jumped 3.8 per cent. Reuters
Continued from page 5No #2
in 2012, up 8 per cent from 157 billion yen forecast for this year,by expanding sales globally and cutting costs. The stock ended theday up 1.9 per cent at 1,455 yen.
Hitachi Ltd jumped 2.9 per cent to 357 yen after the Nikkeibusiness daily said that Japan's biggest electronics conglomeratewas set to report an operating profit for April-September of morethan 200 billion yen, beating its forecast of 170 billion yen.
Hitachi's earnings were supported by strong economic growth inemerging markets, resulting in higher demand for items such asdigital consumer electronics, the paper said.
Heavy machinery and engineering firm Hitachi Zosen climbed3.5 per cent to 118 yen after the company raised its April-September net profit outlook to 5.6 billion yen from 3 billion yenpreviously. Mitsubishi Steel soared 10.9 per cent to 183 yen afterthe company raised its full-year earnings forecasts to March, cit-ing a solid recovery in demand by the construction machinery andauto industries. Tokyo Seimitsu Co jumped 3.9 per cent to 1,073yen after the maker of semiconductor manufacturing systemsincreased its earnings estimate for the six months endedSeptember 30 on better-than-expected sales.
Shares of exporters were mixed, with Canon Inc up 1.6 per centat 3,785 yen and Kyocera Corp rising 0.6 per cent to 8,460 yen,but Honda Motor falling one per cent to 2,916 yen. Reuters
Continued from page 5No #3
technician at Standard & Poor's in New York. "If you get a gold-en cross when the market has been consolidating for a while, youhave a much higher probability the market is going to take off,"he said. The US dollar zigzagged against a basket of currencies onwariness over what, if any, deal would be reached by finance min-isters and central bank chiefs at the G-20 meeting in South Korea.The euro also traded choppily against the greenback.
Two top US Federal Reserve officials gave contrasting viewson the need for more stimuli for the economy, continuing a pub-lic debate over further monetary easing, even though most Fedpolicymakers appear to favor such a move.Growing speculationin recent weeks that the Fed will extend the quantitative easingmeasures at its next meeting in November has pressured the dol-lar while boosting equities, but uncertainty over the extent of thestimulus has caused market volatility.
Equity markets have traded of late in tandem with the euro,with S&P futures rising along with Europe's single currency.Reuters
Continued from page 5No #4
months against Indian rule."President Obama has always understood the importance of
a Kashmir solution," Qureshi said. "His coming visit to theregion is the time to begin to redeem the pledge." The strate-gic dialogue is organized into 13 working groups, rangingfrom water and agriculture to communications and defense.-Agencies
Continued from page 1No #5
up to 70 billion cubic metres annually. A senior Afghanofficial said last month that Afghanistan would secure theplanned pipeline through the Taliban heartland by burying itssections underground and paying local communities to guardit.-Reuters
Continued from page 1No #6
To a question, Interior Minister Malik said the governmenthas listened to the complaints of Muttahida Qaumi Movement(MQM), adding that atmosphere of reconciliation is muchstronger now.Malik said that 3000 appointments would soonbe made in police department in Karachi. Speaking on thisoccasion, Mirza said police have arrested a key suspectinvolved in target killings in Karachi. Mirza called upon crit-ics to refrain from indulging in aggressive debates, which arecausing more problems for the government. He urged all theparties to cooperate with the government in removing themenace of target killing.-NNI
Continued from page 1No #7
in the public procurement, CCP contacted various govern-ment agencies including Passco to provide information on theprocurement made by them during last three years. The dataprovided by Passco raised suspicion about bid rigging- a typeof collusive behavior among the jute manufacturing millsprohibited under Section 4 (2) (e) of the Act. TheCommission on its own decided to initiate a formal enquiryunder Section 37(1) of Act and appointed an enquiry commit-tee comprising of Director Cartel, Monopolies and TradeAbuses Shaista Bano and Joint Director Nadia Nabi. The dulyauthorised officers of CCP conducted the search on 8 July2010 and impounded valuable materials and documents fromthe offices of PJMA. The impounded documents providedinformation about the collusive activities going on betweenthe jute mills. It was found out by the enquiry committee thatthere is, prima facie, cartelisation in the market of jute bagsin violation of Section 4(1) read with 4(2) (a), (b) & (e)of the Act.
Members of PJMA appear to have deliberately devised amechanism in an agreement to allocate quota for jute bag ten-ders invited by different government departments and have,prima facie, violated Section 4(1) read with Section 4(2) (b)and (e) of the Act.
Members of PJMA have mutually discussed the price ofjute bags and appear to have a pricing strategy before andafter the opening of tenders, thereby, prima facie, fixing theprice of jute bags in violation of Section 4(1) read withSection 4(2) (a) of the Act. As a result, showcause noticeshave been issued to these jute mills and the case has beenfixed for hearing on November 6, 2010.-APP
Continued from page 1No #8
was rejected earlier by the same SECP for the same slot.When he was recommended earlier, Board of Directors of
LSE had at least bothered to interview more than 15 candi-dates, four were shortlisted but Aftab's name was forwardedto the SECP for the approval. However, this time only twopersons were interviewed, and one of them was Aftab. Thesecond person was not even asked to appear before the Board.Some of those who appeared in the first round of selectionsaid, "The Board had already made the selection and theentire process was a setup. That is the reason only two nameswere shortlisted. In fact the Board was adamant on nominat-ing Aftab and the entire eyewash was staged to give theimpression that he has been selected by following a transpar-ent selection procedure".
Continued from page 1No #9
Vermont. "If the law is going to have teeth, it has to be taken seriously. Pakistan's military leadershave made encouraging statements about addressing these issues, but this requires more than state-ments." The United States spends about $2 billion a year on the Pakistani military, including moneyspecifically designated for counterterrorism operations.-Online
Continued from page 1No #10
To his remarks, the Chief Justice asked him not to level allegations as they would only hearthe case on merits and legal evidence. He observed that the relative might have qualified allthe conditions and advised him not to make unjustified points. Faisal said that power crisiswas created to make a room for RPPs and added that five companies were awarded withoutholding bids while fourteen others were given bids that were too an eyewash.
He claimed that in 2007 the oil prices in the international market peaked but the prices ofelectricity remained stable but recently an increase of 40 per cent was witnessed as tariff forper kilowatt of electricity was jacked up from Rs6.62 to Rs10.50, adding to public miseries.
He said that the RPPs set up in the country had already completed their functioning periodsand were only scrap. He cited Naudero power plant and said that it was 23 years old and hadalready run 111,000 hours which was a violation of Nepra decision against setting up suchoutdated plants.
He also submitted copies of reports of Asian Development Bank, Auditor General ofPakistan and Transparency International over the issue. He alleged that Pepco did not enterinto agreements with RPPs directly but it was done through Gencos. Khwaja Asif, a PML-N,leader, who was allowed by the bench to become a party in the case, appeared and claimedthat one plant was awarded to a company owned by David Walter, an American, who wasremoved from his high post due to corruption.
Justice Khalil ur Rehman Ramday remarked that the responsible would have to face thelegal consequences if things were proved against him.-APP
Continued from page 1No #11
power sector through either public-private partnership or as power producers to boost over-all power generation, he said. Besides, the American private sector will partner with AlternateEnergy Board of Pakistan for a wind energy project.According to the federal minister, theUnited States has allocated a total of $2 billion for energy sector development in Pakistanunder Kerry-Lugar Bill and Islamabad has readied its feasibility reports for projects up toyear 2014. Meanwhile, according to reports received from Pakistani embassy on Friday,Ashraf also announced that four power distribution companies, those of Lahore, Faisalabad,Gujranwala and Islamabad, will be made independent soon in the first phase under powerrestructuring plan.He said, "We want to bring visionary people, who will run these companieson professional lines" He added government intends to complete this reforms process by nextJune. The government believes that giving autonomy for these companies is imperative inorder to make them efficient, he said.-Agencies
Continued from page 1No #12
colonel along with five soldiers and wounded three others. The injured were shifted to theCombined Military Hospital Kohat. Following the attack, troops surrounded the area and startedhunt for suspected militants holed up in the mountainous region.-Online
Continued from page 12No #13
of lasting peace, stability and development of the region that the US works for the resolution ofdisputes in South Asia. This has to begin with justice for the Kashmiri people," Qureshi had said.Qureshi is leading a high-powered Pakistani delegation for the third US-Pakistan Strategic Dialoguebeing held in Washington.-APP
Continued from page 12No #14
supremacy of the Parliament which bodes well for the future", the CM maintained. He said thatthere is a dire need to strengthen the national institution as against creating clashes amongst the insti-tutions so that the country could be placed on the right track.
He said that attempts are underway to stop gas and power load shedding in Punjab.-Online
Continued from page 12No #15
transaction cost of the investors. Some experts say that the decision came after publication of thenews that some of the sponsors are planning to establish another depository company in the coun-try. According to the news published in TFD on Thursday, sponsors of one of the banks have quiteseriously taken such an initiative.
If a second depository is established in Pakistan it will join the club of countries having more thanone such company.
It should be noted that India has two depositories namely Stock Holding Corporation of IndiaLimited and Central Depository India Limited. Moreover Bangladesh is also ready to launch a sec-ond depository.
Continued from page 1No #16
However, in the second round, besides Aftab only one person was called for an initial inter-view that was all and the likely plea taken was that only two applications were received andout of these Aftab was found to be the most appropriate candidate.
People watching the entire episode going on for more than three months say, "It is true thatthe LSE Board was bent on appointing Aftab as the managing director of Pakistan's secondlargest stock exchange but it'd have been better if SECP had not eaten its own words. If Aftabwas not fit to fill the slot few months back, what makes him eligible now?"
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ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to the
diplomatic correspondent, at PM House.-APP
ISLAMABAD: Prime MinisterSyed Yousuf Raza Gilani Friday saidPakistan must be involved in the“negotiation process” as it is part ofthe solution to the Afghan problem.
Talking to office bearers ofDiplomatic CorrespondentAssociation of Pakistan (DCAP)here at Prime Minister House, hesaid, "Without involving Pakistan,no negotiation process can succeed."
The Prime Minister said Pakistanhas taken initiative on theAfghanistan issue and is making sin-cere efforts to ensure peace andsecurity in the region.
Gilani said, "Pakistan is part of thesolution to Afghan issue and not theproblem."
About Pakistan's role in reconcilia-tion process in Afghanistan, hepointed out that during the last visitof President Hamid Karzai to
Islamabad it was agreed thatAfghanistan would share the planwith Pakistan.
He said so far this plan has notbeen shared with Pakistan and onceinformation is provided a decisionwould be taken as to how Pakistancan cooperate.
He said Pakistan's relations withAfghanistan have improved andthese are far better today than yester-day.
Replying to a question about therecent efforts of Afghanistan govern-ment to start negotiation processwith the Taliban, the Prime Ministersaid we want Afghanistan to leadany such process but Pakistan shouldbe a part of it.
He said the Afghan leadership hasyet to discuss its new initiative ofdialogue process with United Statesand expressed the hope that it would
also discuss it with Pakistan beforegoing after it.
The Prime Minister said Pakistanhas high stakes in Afghanistan's sta-bility, unity, territorial integrity, andprosperity.
He said, "The Af-Pak concept isinherently flawed. We have stronglyrejected such concept."
Syed Yousuf Raza Gilani said theUnited States has been told in cate-gorical terms that drone attacks werecounter-productive.
The Prime Minister said Pakistanis pursuing strategic dialogue withthe United States on the basis ofmutual respect and its national inter-ests.
Gilani said Pakistan is demandingof the United States civil nucleartechnology cooperation on the pat-tern of its agreement with India.-Online
Afghan peace hingeson Pakistan: Gilani
GYEONGJU: The United StatesFriday urged G20 powers to altertheir currency regimes to shore upfragile global growth, but facedresistance to its ideas to reorder thepost-crisis world economy.
G20 finance ministers and centralbankers opened a two-day meetingin South Korea, stalked by warningsof an all-out "currency war"between debtor nations such as theUnited States and export power-houses such as China.
Ministers from the G7 grouping ofNorth America, Western Europe andJapan met for an hour ahead of theG20 talks, facing warnings that fail-ure to rectify skewed patterns ofeconomic growth could ignite tradeprotectionism.
The rhetoric has become heated asthe G20 prepares for a Seoul summitnext month of leaders at the heart ofthe forex row, including the US andChinese presidents.
In a letter to his G20 colleagues,US Treasury Secretary TimothyGeithner urged nations running big
trade surpluses to reform theirexchange-rate policies. He did notname the nations, but China seemedthe clear target.
He wrote that countries shouldaim to reduce their surpluses ordeficits to a yet-to-be determinedshare of gross domestic product inthe coming years.
G20 nations with large deficitsshould boost national savings via"credible medium-term fiscal tar-gets" and boost their exports, he saidin the letter.
"Conversely, G20 countries withpersistent surpluses should under-take structural, fiscal and exchange-rate policies to boost domesticsources of growth and support glob-al demand," Geithner wrote.
With a super-loose US monetarypolicy weakening the dollar, majorG20 economies such as Japan,South Korea, Brazil and Indonesiahave intervened in recent weeks tocurb an alarming rise in their curren-cies. But for the United States,which is in the throes of election
season, China lies at the root of theproblem owing to its firm controlover the yuan's value as a means ofsafeguarding its humming exportmachine.
Geithner said "G20 countriesshould commit to refrain fromexchange-rate policies designed toachieve competitive advantage byeither weakening their currency orpreventing appreciation of an under-valued currency".
Apparently signalling they want atemporary truce, the G20 ministerswill pledge to "refrain from compet-itive undervaluation" of their cur-rencies, according to a draft state-ment obtained by Dow JonesNewswires.
They will "move towards (a) moremarket-determined exchange ratesystem", the draft said, withoutspelling out how.
Geithner wants export giants suchas China to limit their overall cur-rent-account surpluses, as a back-door way of making them appreciatetheir currencies.-Reuters
G20 to try appeasingwarring currencies
PESHAWAR: At least 2 people gotkilled while 10 received injuriesafter a blast inside a mosque inPushtkhara, Peshawar on Friday.
According to the initial reports,several people had been offeringthe Juma prayer at the time of theblast. The nature of the blast is yetto be confirmed, but it's suspectedto be a remote-controlled explo-sion. The injured were shifted tothe nearby hospitals. Due to thehigh intensity of the blast, theincrease in number of casualties isfeared.
Soon after the blast, panic andfear gripped the entire area.
Police cordoned off the entirearea while Security Officials saidthat investigations are underway toprobe the nature of bombing.
Eyewitnesses present on theoccasion told media that they couldsee human organs lying on the roadwhile numerous were injured andcrying for help.
President Asif Ali Zardari andPrime Minister Syed Yusuf RazaGilani strongly condemned thebomb blast in Peshawar.
The leaders of all political partiesand high officials also denouncedthe bomb blast in the strongest ofwords.-Online
Peshawar mosquebomb blast kills 2
Lt Col,5 troopskilled in
Hangu areaKOHAT: A roadside bomb blastkilled a lieutenant colonel and fivesoldiers in Upper Orakzai Agency onFriday.
Three more troops of paramilitaryFrontier Corps were injured in aremote controlled-bombing, whichtook place near Yakh Kandao villagein Hangu.
According to FC sources, the para-military troops were on patrol whenthey were hit by a remote-controlledbomb. The blast killed a lieutenant
See # 13 Page 11
ISLAMABAD: Senate StandingCommittee on Privatisation tookstrict notice of load-shedding inKarachi and said Karachi ElectricSupply Company (KESC) is a pri-vate company which must takeeffective steps for attracting invest-ment so as to overcome this issue.
The meeting which was held hereon Friday under the chairmanship ofSenator Adnan Khan urged KESC todevise a comprehensive plan toattract foreign and local investment.
Minister for Privatisation, SenatorWaqar Ahmed Khan said that theministry is conducting special auditof banks and other governmentdepartments so as to have a firsthand knowledge that whether theyare running their affairs according to
the privatisation contracts.Executive Director KESC
Zulfiqar Ali while briefing the meet-ing about the load-shedding inKarachi and the financial difficultiesfaced by the company said that bothfederal and provincial governmentsowe Rs81 billion to KESC.
Giving details, he said federalgovernment owes Rs 34 billion,Sindh government Rs15 billion andconsumers owe Rs32 billion toKESC.
He said that the situation has dete-riorated due to circular debt and gasload-shedding. The meeting wasalso attended among others byMinister for Science andTechnology Azam Khan Swati.-APP
KESC get inflowsto improve: Waqar
US stays outof Kashmirmediation
WASHINGTON: The United Stateshas refused to intervene into theKashmir issue as requested byPakistan, saying this should beresolved bilaterally by New Delhiand Islamabad.
We recognise the importance ofKashmir to both countries. Weabsolutely want to see tensions easedand ultimately a resolution to situa-tion in Kashmir," State Departmentspokesman P J Crowley said at anews conference at the Foreign PressCenter.
"That we believe needs to comethrough additional dialogue betweenPakistan and India. We have notbeen asked by both countries to playa particular role," he said.
"But this is the reason why, for anumber of reasons we continue toencourage further dialogue betweenIndia and Pakistan," Crowley said inresponse to a question.
Foreign Minister Shah MehmoodQureshi had yesterday urged the USto help it resolve the Kashmir dis-pute with India. "It is in the interest
See # 14 Page 11
SC easedpoliticalpressure:Shahbaz
LAHORE: Chief Minister PunjabMian Shahbaz Sharif Friday saidthat Supreme Court's verdict hasestablished Parliament's supremacywhile, those who attempted to divideParliament and judiciary had to facehumiliating defeat.
Talking to media here in Lahoreafter inaugurating head office ofPunjab Industrial Estate at SundarIndustrial Estate, Chief MinisterPunjab Mian Shahbaz Sharif saidthat the said verdict would helpbring the political temperaturedown.
"The decision showed that thejudiciary has accepted the
See # 15 Page 11
KABUL: Mid-level Taliban insur-gency commanders do not believetheir leaders have begun tentativepeace talks with the Afghan govern-ment, with many vowing on Fridaynot to give up the fight after nearly10 years of war.
Nato and Afghan officials havereported preliminary contactsbetween President Hamid Karzai'sgovernment and the Taliban,although doubt surrounds whenthose contacts were made, who theywere made with and what, if any,progress was made.
Karzai is pushing a negotiated set-tlement to the conflict and haslaunched a High Peace Councilwhich has said it is prepared to offerconcessions to bring insurgents tothe table. Kabul and Washington sayfighters must renounce violence.
Insurgency commanders fromacross Afghanistan indicated theywere not involved in the initial con-tacts. "No one has come so far andsat with the government and there isno hope that the Taliban will come
and negotiate," said AbdullahNasrat, Taliban commander forGirishk district in the southernprovince of Helmand, a traditionalTaliban stronghold.
"We basically hear the reports oftalks through the press and do notbelieve in them," he told Reuters bytelephone. "As long as foreignforces are in Afghanistan, there willbe no talks. Our morale is high."
Violence in Afghanistan is at itsworst since the Taliban were oustedby US-backed Afghan forces in late2001. Record civilian and militarycasualties will weigh heavily whenUS President Barack Obama con-ducts a strategy review inDecember.
The war will be a central part ofdiscussions at a Nato summit inLisbon next month.
Providing an upbeat assessment ofrecent offensives, Nato Secretary-General Anders Fogh Rasmussentold reporters in BERLIN that insur-gents in Afghanistan were on theback foot. -Reuters
Afghan insurgentsdismiss peace talks
