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International Karachi, Wednesday, January 5, 2011, Muharram-ul-Haram 29, Price Rs12 Pages 12

Gilani sees no threat to govt

Iran opens N-sites to world powers

See on Page 12

Cotecna Reference: Former FBR head indicted See on Page 12 Petition filed in SHC against POL price hike

See on Page 12

See on Page 12 Economic Indicators Forex Reserves (27-Dec-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Oct 10)

GDP Growth FY10E Per Capita Income FY10 Population

$16.42bn 14.44% $8.88bn $15.37bn $(6.49)bn $(504)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5348.6bn $287.9mn -2.81% 4.10% $1,051 171.45mn

Portfolio Investment SCRA(U.S $ in million)

198.98 3.58 3.58 2878

Yearly(Jul, 2010 up to 13-Jan-2011) Monthly(Nov, 2010 up to-13-Jan-2011) Daily (1-Jan-2011) Total Portfolio Invest (24 Dec-2010)

NCCPL (U.S $ in million)

FIPI (4-Jan-2011) Local Companies (4-Jan-2011) Banks / DFI (4-Jan-2011) Mutual Funds (4-Jan-2011) NBFC (4-Jan-2011) Local Investors (4-Jan-2011) Other Organization (4-Jan-2011)

1.30 -4.19 11.01 -1.49 -0.53 -5.53 -0.57

Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones

Close 12,110.26 10,398.10 23,668.48 20,498.72 2,748.19 2,852.65 6,028.56 11,673.93

Change 260.80 169.18 232.43 62.33 4.78 44.57 128.62 3.18

GDR update 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 PKR/Shares 2.60 111.31 22.51 192.73 2.00 42.81 1.70 36.39 11.09 37.98

Money Market Update 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)

29-Dec-2010 29-Dec-2010 29-Dec-2010 29-Nov-2010 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011 04-Jan-2011

13.20% 13.41% 13.73% 14.00% 13.23% 13.46% 13.64% 13.99% 14.13% 14.21% 14.25% 14.31% 14.56% 14.76% 14.93%

Commodities *Crude Oil (brent)$/bbl 95.16 *Crude Oil (WTI)$/bbl 91.35 *Cotton $/lb 142.64 *Gold $/ozs 1,396.00 *Silver $/ozs 30.31 Malaysian Palm $ 1,269 GOLD (NCEL) PKR 39,070 KHI Cotton 40Kg PKR 9,645

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 85.90 Canadian $ 85.70 Danish Krone 15.00 Euro 113.60 Hong Kong $ 10.70 Japanese Yen 1.039 Saudi Riyal 22.75 Singapore $ 65.50 Swedish Korona 12.10 Swiss Franc 86.90 U.A.E Dirham 23.25 UK Pound 132.00 US $ 85.65

Sell (Rs)

87.20 86.80 15.10 115.20 10.80 1.065 22.90 66.50 12.80 87.10 23.45 133.00 85.95

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

86.65 86.23 15.34 114.36 11.01 1.052 22.81 66.54 12.79 91.49 23.29 132.61 85.62

86.85 86.43 15.38 114.63 11.04 1.054 22.87 66.70 12.82 91.71 23.35 132.92 85.80

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

11°C 26°C 12°C 11°C 15°C 11°C

MIN

02°C 10°C 04°C 07°C -06°C 05°C

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Guard kills Governor Punjab; says Taseer spoke against blasphemy law

OPENNESS COSTS TASEER LIFE Other guards also detained; President, PM condemn; order high-level probe PPP announces 2-week mourning, suspends all political activities ISLAMABAD: Governor Punjab Salman Taseer was assassinated on Tuesday afternoon by one of his guards of Elite Force. Late Governor Punjab Salman Taseer was assassinated by one of his guards of elite forces in the federal capital F-6 after he was coming out of a restaurant after eating lunch with one of his friends. The elite force security man identified as Malik Mumtaz Qadri emptied the entire burst of his automatic SMG Kalashnikov into the Governor injuring him critically. He was taken to a hospital, where he died, apparently from blood loss. The elite force security man Malik Mumtaz Qadri surrendered before the police immediately. Interior Minister Rehman Malik told that Taseer was assassinated because he spoke out against blasphemy law. Mumtaz Qadri told the police that he had assassinated the Governor due to his blasphe-

Taseer’s life in a glimpse

US envoy deplores assassination ISLAMABAD: US Ambassador to Pakistan Cameron P Munter has offered condolences on the assassination of Punjab Governor Salman Taseer. In a statement issued here on Tuesday, he said "Taseer had the courage of his convictions and was a champion of tolerance. His death is a great loss to the people of See # 9 Page 11

Dec CPI may touch 17.1pc Inflation likely to cross 19-month high Aamir Abidi KARACHI: The disruption in supply of food chain along with increasing commodity prices is expected to cause December 2010 consumer price index (CPI) inflation to jump at 17.1 per cent YoY, pushing MoM CPI inflation to 0.93 per cent. Perishable foods items i.e. tomatoes, egg, vegetable ghee prices increased 98.6, 5.64 and 3.13 per cent MoM along with that of non-perishable food items i.e. wheat & rice prices

hiked 0.53 and 0.57 per cent MoM. On the other hand, SBP tightening is diluting the effectiveness of monetary policy due to high-level of government borrowing from the SBP. While rising security and flood-related expenditures and continued power sector subsidies are one aspect of the problem of rising fiscal deficit and ultimately rising inflation. Of the Rs398 billion expansion in M2 till 18th December 2010 during the current fiscal See # 12 Page 11

Govt not buying BP asset, SC told ISLAMABAD: Counsel for the Oil and Gas Development Company Limited and Pakistan Petroleum Limited apprised the Supreme Court of Pakistan here Tuesday that the government had no intention to purchase $800 million assets of the British Petroleum. They assured the court that their clients would not buy the assets at higher prices as their bidding was already low, which had not been entertained. A three-member bench headed by Chief Justice Iftikhar Mohammad Chaudhry dis-

mous statements. See # 10 Page 11

posed of the petition, which was filed by former Jamaat-eIslami Amir Qazi Hussain Ahmed. Qazi Hussain Ahmed had filed a plea against the government's bid to purchase its soldout assets from the British Petroleum (BP) at higher rates, and claimed that it would cause a loss of $800 million to the national exchequer. His counsel had contended that the government had first sold the assets to the same company at a low price and now was buying it at an exorbitant price. -APP

Acting US AfPak envoy arrives today ISLAMABAD: Acting US special representative for Pakistan and Afghanistan, Frank Ruggiero is arriving in Islamabad on his maiden visit to the region on Wednesday (today). Diplomatic sources say that Frank Ruggiero assumed the post of Acting US special representative for Pakistan and Afghanistan following the death of predecessor Richard Holbrooke last month. According to the diplomatic sources Ruggiero, who was Holbrooke's deputy until the death of the veteran diplomat would arrive in Pakistan on January 5 (today) amid political chaos in the country. During his visit, the US envoy will hold talks with the country's top political and military leadership on the current See # 13 Page 11

6 SHC judges get 1yr extension KARACHI: Supreme Judicial Council has awarded one-year extension to six judges of Sindh High Court. Law Ministry has issued the notification in this regard. As per details, SJC extended the one-year service of six additional judges of Sindh High Court including Justice Shahid Bajwa, Justice Ghulam See # 14 Page 11

Angry supporters stage protests

ISLAMABAD: Punjab Governor Salman Taseer, who was shot dead in an attack at Kohsar Market here Tuesday, was appointed Governor on May 15, 2008. He was 64. Salman Taseer belonged to a respectable and intellectual family and he had obtained a See # 8 Page 11

ISLAMABAD: Hundreds of PPP supporters took to streets in different cities including Lahore, Sargodha, Multan, Toba Tek Singh, Sialkot, Okara, Rahimyar Khan, Gujranwala and Karachi after the assassination of Punjab Governor Salman Taseer by his own security guard in Islamabad

Musharraf grieves over assassination

Taseer received 27 bullets

Murder raises brows over security

ABU DHABI: Chief of All Pakistan Muslim League, (APML) Pervez Musharraf while expressing grief over the assassination of Governor Punjab, Salman Taseer has said that this was not only loss of the PPP but the whole See # 7 Page 11

ISLAMABAD: Punjab Governor Salman Taseer received at least 27 gunshot bullets on his body, according to initial post mortem report. His body was transported to Pakistan Institute of Medical Sciences (PIMS) for detailed post mortem.

ISLAMABAD: After the assassination of Punjab Governor, Salman Taseer in the hands of his own personal security guard, military and security personnel have been overcome with deep apprehensions and concerns See # 6 Page 11

After restoration of gas to companies

Urea-makers set to reduce prices ISLAMABAD: The representatives of fertiliser companies Tuesday attributed the hike in the prices of urea to gas loadshedding and assured the government that if the gas was restored they would take the price increase back. In may be mentioned here that Prime Minister Gilani had taken a serious view of the recent price hike in urea. In this connection, a meeting of the Price Review Committee was held here under the Chairmanship of Minister for Industries and Production Mir Hazar Khan Bijarani. The meeting was attended by the Minister for Food and Agriculture, Minister for Agriculture Punjab, Secretary Agriculture Sindh, Senior officers from Finance, MINFA,

Petroleum and Natural Resources and Ministry of Water and Power, Planning Commission, NFC and the Fertilizer Manufacturers, says a statement issued by the MOIP. Representatives of the fertiliser sector on the occasion clarified that the price increase was due to the 45 days winter gas load-shedding instead of 30 days; gas curtailment of 20 per cent on Sui based plants and 12 per cent gas curtailment on Mari based plants since May 2010. They assured that if the gas was restored they would take the price increase back. The meeting looked into the different possibilities of improving gas supply to the fertiliser See # 11 Page 11

Shoaib, Danish off Pakistan WC squad LAHORE: The career of former Pakistan cricket captain, Shoaib Malik appeared to meet a premature end when he, along with spinner Danish Kaneria was axed from Pakistan's 30member preliminary squad named here on Tuesday for next

See details on Page 10 month's World Cup. It seemed that both of them failed to satisfy the Pakistan Cricket Board's integrity committee, contrary to wicketkeeper Kamran Akmal who got the nod of selectors. PCB selection committee finalised the list of probable players for World Cup one day ahead of the extended deadline set by game's Ruling Body, the ICC to submit the names.

Govt blamed for fiscal deficit Special Correspondent ISLAMABAD: Government's expenses consistently on the rise and if the trend goes on it will only lead to wider budget deficit. This was expressed by Governor State Bank, Shahid Hafeez Kardar while briefing Senate's Standing Committee on Finance here Tuesday. Senate Standing Committee meeting was chaired by Senator Ahmed Ali. Governor State Bank of Pakistan told the committee if government expenditures remain on the higher side, then fiscal deficit may reach to 6 per cent of the gross domestic product. Governor SBP informed that during the current fiscal revenues were increased by 7 per cent whereas gov-

ernment expenses rose by 9 per cent. Kardar added that government has borrowed Rs374 billion for its expenses from the central bank, whereas for the purchase of commodities Rs366 billion more had been borrowed while Rs368 billion extra also loaned for public sector entities. Governor central bank said that government still paying monthly Rs20 billion subsidy on power while Rs29 billion annual subsidy being paid on urea. On the occasion Federal Secretary Finance told the Committee that subsidies on power sector and security-related expensed are the biggest ingredients to the rising inflation, added that circular debt in the power sector has reached to Rs145 billion so far.

Sharif spells out eleven-point agenda, Says option open to go to masses for fresh mandate

'N' gives Gilani 6 days on reforms ISLAMABAD: PML-N Quaid Mian Nawaz Sharif has given six days to Prime Minister Syed Yousuf Raza Gilani to accept or reject a short-term eleven-point agenda for implementation within 45 days to bring an end to corruption and provide relief to the masses. Addressing a press conference after a meeting of his

party's Central Organising Committee here Tuesday, Mian Sharif said that if the response of the Prime Minister was in the negative, the PMLN would remove the PPP from coalition in Punjab government. Listing the short agenda Mian Nawaz Sharif demanded immediate withdrawal of recent hike in POL prices and

devising a system about increase in electricity, gas and POL prices to avoid frequent burden on the common man; effective check on corruption, removal of favorites appointed as heads of loss making public sector enterprises and appointment of efficient and honest people in their place, an effective price control system be evolved to provide relief to the

people; decisions of the SC on NRO and other issues be fully implemented; election commission be reformed and made fully independent to ensure free and transparent elections ; 30 per cent reduction in government expenditure immediately and bringing down the number of Cabinet Ministers; investigation into Hajj scam, NLC, sugar mafia, Augusta

submarine, Pakistan Steel Mills, Insurance and Punjab Bank scandals' establishment of an independent accountability commission, recovery of billions of rupees of write off loans and ensuring sovereignty of the country. He said this is part of comprehensive political reforms agenda for the country that also includes accountability of

Pervez Musharraf for violating constitution; complete elimination of corruption from FBR to recover billions of rupees of tax evasion and corruption, establishment of private board of governors in all state enterprises, transparency in defence budget and a plan to resolve energy crisis. Mian Nawaz Sharif said See # 15 Page 11


2

Wednesday, January 5, 2011

TDAP awaiting release of Rs7bn

Export target of $20bn to be achieved this year: Puri Staff Reporter

KARACHI: Chief Minister Sindh Syed Qaim Ali Shah having a meeting regarding law and order situation of Karachi with Federal Minister for Interior A Rehman Malik at Chief Minister House.-Online

LCCI to build homes for flood affectees Staff Correspondent LAHORE: In an epochmaking move the Lahore Chamber of Commerce and Industry Tuesday laid the foundation stone for the construction of 150 houses in flood-hit villages in district Layyah. The total estimated cost of the project, to be completed in a record time of three months, is Rs 20 million. The LCCI delegation, headed by its President Shahzad Ali Malik, comprised Senior Vice President Sheikh Mohammad Arshad, Executive Committee mem-

bers Mian Zahid Javaid, Marghub Shakir Izhar, Dr Shahid Raza, Khawaja Khawar Rashid and Chaudhry Wajid Ali. The delegation visited four sites including Basti Siraee Shumali, Basti Manchar Mohana, Chak Shahni and Basti Shahni and after a detailed discussion with the district Administration, it was decided that the Lahore Chamber of Commerce and Industry would initiate construction in Basti Manchar Mohana and Shahbazabad. Basti Manachar Mohana is the most affected area where

the residents are spending their lives in camps. By laying the foundation stone of this mega project, the Lahore Chamber of Commerce and Industry Tuesday became the first Chamber of Commerce in the country to initiate construction in flood affected areas. At first stage 40 houses would be constructed on emergent basis in Basti Manchar Mohana where the devastation due to floods is about 90 per cent while on the second stage a Model Village would be constructed at Shahbazabad.

Qatar Airways to carry relief goods TV PROGRAMMES WEDNESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24

WEDNESDAY Time Programmes 8:00 Chai Time (Rpt) 9:00 News 9:15 Pehla Sauda 10:00 News 10:15 Bazaar 11:00 News 11:05 Ghar Ka Kharch 12:00 News 12:15 Power Lunch 13:00 News 13:05 Islamabad Say (Rpt) 14:00 News 15:02 Akhri Sauda 15:30 Aap Ka Paisa (Rpt) 16:15 Karobari Dunya 17:05 Ghar Ka Kharch (Rpt) 18:05 Chai Time 19:00 News 19:30 Mang Raha Hai Pakistan 20:00 News 20:05 Islamabad Say 21:00 Pakistan Aaj Raat 22:00 News 22:05 Doosra Pehlu 23:00 News 23:05 Badalta Pakistan (Rpt) 0:00 News

EVERETT: Boeing has again partnered with Qatar Airways and the non-profit global health and disaster relief organization, AmeriCares to deliver a second consignment of relief supplies to areas in Pakistan that are still recovering from the massive floods that ravaged the country in August. The first shipment was delivered in September 2010. A consignment of about 35,000 pounds (15.8 metric tones) of medical supplies was loaded into the cargo hold of the new Boeing 777300ER delivered to Qatar Airways. The airline will

subsequently ship the relief goods from Doha, Qatar to Pakistan. "This is the second time this year that Boeing is partnering with Qatar Airways and AmeriCares to bring relief to the people who are still suffering from the aftereffects of the floods," said Liz Warman, director of Global Corporate Citizenship Northwest Region, Boeing. "Providing timely medical care is critical; though the floods have receded, the after effects such as sickness and disease continue to affect the people in these disaster zones."-PR

SECP fines 37 defaulting cos ISLAMABAD: As part of its enforcement and regulatory function, the Enforcement Department of the Securities and Exchange Commission of Pakistan passed 37 orders, fining defaulting companies besides issuance of 29 show-cause notices in December. The department imposed penalty of Rs4.425 million on listed and unlisted com-

panies in December for non-compliance with various provisions of the 1984 Companies Ordinance, and Rs2.2 million for noncompliance with various provisions of the 2002 Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance. The department also resolved 40 investors' complaints during the month.-PR

Oil & Gas Forum on 29th KARACHI: The third Oil and Gas Pakistan 2011 Forum on the theme "Focusing on Energy Issues and Opportunities to Secure Pakistan's Future" will be held on January 29 in Islamabad.. The Ministry of Petroleum and Natural Resources, Government of Pakistan along with PLATTS, world's leading provider of energy and metals infor-

mation, and leading global local companies are expected to play a leading part in the conference. The moot is designed for Pakistan-based and international oil & gas/energy companies to come together and work towards a sustainable operational framework for ensuring steadier markets and prices during the challenging days to come.-PR

KARACHI: DCO Mohammad Hussain Syed talking to officials of EDO Master Plan department during a visit.-Staff Photo

ZAB's 83rd birth anniversary today ISLAMABAD: Pakistan People's Party (PPP) will observe 83rd birth anniversary of PPP founder Shaheed Zulfiqar Ali Bhutto today. According to details, PPP will arrange ceremonies and cut the cakes of Birth anniversary in four provinces and Gilgit Baltistan PPP headquarters. The PPP leaders will pay tribute to ZA Bhutto services for country. ZA Bhutto was born in Larkana in January 5, 1928. He was the founder of largest political party of Pakistan (PPP) and he had served the country as Foreign Minister and Prime Minister. ZA Bhutto was hanged in 1979 in Zia ul Haq era.-Online

KARACHI: Trade Development Authority of Pakistan (TDAP) is awaiting funds to the tune of Rs7 billions to be released from Export Development Surcharge (EDS) held up by Ministry of Finance following which the TDAP would be able to carry out its export-oriented plans besides releasing the amounts of subsidies to the exporters, this was stated by Chief Executive, TDAP, Tariq Iqbal Puri. Addressing a luncheon meeting at Korangi

Association of Trade and Industry (KATI) on Tuesday, the TDAP chief said that Pakistan would cross the barrier of $20 billion exports this year. He said TDAP has many export-oriented projects in pipeline and after receiving funds, they would be implemented soon. He said that TDAP is planning to take part in as many as 80 international exhibitions abroad out of which 25 exhibitions would be held in China. He said China has offered free stalls in some of these exhibitions. He

said that China would be the focus country for TDAP during 2011 as Chinese market is much lucrative than other countries and Pakistan's home textile and other items have a big potential of export. He announced that Board of Directors of TDAP would soon be reconstituted and prominent personalities would be taken into the board this time. He said it was being considered to split the Expo Pakistan exhibition into 5 to 7 sectoral exhibi-

Curtail expenses, contain prices, FPCCI tells govt Staff Reporter KARACHI: The Federation of Pakistan Chambers of Commerce and Industry has strongly urged the Government to immediately cut down its spending and also need to take corrective measures to contain the POL products charges on war footing overcome the rising electricity and gas shortfall as it has created new threats to the survival of businesses and the overall economy. This was stated by

President FPCCI Senator Haji Ghulam Ali, Tariq Sayeed' former President FPCCI,.S.M.Muneer and Vice Presidents Khalid Tawab, Dawood Usman Jhakurra, Usman Shaikh and Akber Khan in a meeting to discuss the recent Increase by (OGRA) at Federation House, Karachi. President FPCCI Senator Haji Ghulam Ali suggested that the Government must take necessary steps to facilitate the industrial growth and to adapt the policies through which

would strengthen the economy. He added that FPCCI will soon give a 10 point agenda to the government for bringing stability and sustainable growth of the economy. S M Muneer said that price hike in petroleum products will trickle down to all other products and add to the burden of poor people, who can hardly afford one meal a day. He blamed the government's economics policies for the increase in the poverty in the country.

Marriott's Regional Food Festival from 6th

KARACHI: TDAP Chairman Tariq Iqbal Puri adressing a lunchen meeting at KATI.-Staff Photo

Deutsche Bank appoints new MD Staff Correspondent LAHORE: Deutsche Bank Tuesday announced the appointment of Faizan Mitha as Managing Director and Chief Country Officer for Pakistan. He will succeed Shazad Dada. As Chief Country Officer, Mitha will have responsibility for Deutsche Bank in Pakistan across all businesses and will manage the Bank's opera-

tions in the country from Karachi. He will report to Robert Rankin, Chief Executive Officer for Asia Pacific (ex Japan). Mitha has 25 years of experience in the financial industry, most recently as Group Executive, Global Treasurer for Habib Bank Limited in Pakistan. Prior to that role, Mitha held senior positions at a number of international financial institutions across South Asia, the Middle East, and Europe.

Deutsche Bank commenced operations in Pakistan in 1961. Today, the Bank employs over 70 people in the country, with offices in Karachi, Lahore, and Islamabad. The Bank offers a comprehensive suite of investment banking and commercial banking products and services in Pakistan and is a leader in capital markets, having recently been ranked the top international broker in the country by market share.

JS sues CDGK Shan Foods wins Consumers Choice Award officials for defamation KARACHI: Leading businessman Jahangir Siddiqui has filed a lawsuit for damages wortht Rs. 5 billion against Mustafa Jamal Qazi Additional EDO (Revenue) City District Government Karachi and Ghanwar Leghari Director Anti-corruption Sindh for involving him in a land scam. The Sindh High Court has issued restraining orders toofficials concerned from making, publishing or broadcasting any news item, which is false or defamatory against Jahangir Siddiqui, his family members and his businesses, says a press release.-PR

Johar was a great leader: Sharmila KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that Maulana Muhammad Ali Johar was a great journalist, political leader, fiery orator and pro-Islam leader and his role during Khilafat Movement has been documented in the history with golden words. She said this while addressing as chief guest at Karachi Press Club at 80th death anniversary ceremony, organized by Johar Foundation. She said there were a lot of things for new generation to learn from his personality because Maulana believed in democracy, was a fiery pro- democratic person and struggled against undemocratic forces and in the same way as Pakistan Peoples Party had always struggled against dictators and written the history of democracy in Pakistan with blood.-Online

Pakistan’s Best Year in Mango Exports

Staff Correspondent KARACHI: Karachi Marriott Hotel is organizing regional food festival fromJanuary 6-8 at the pool Marquee. Karachi Marriott Hotel, has always been ahead in promoting the culture of other countries and when it come to Mother Land, Pakistan, the sentiments are much more warm and enthusiasm is accelerating because we take pride in freedom! Our country is rich in culture and our food is tastiest of all. Regional food festival will celebrate the colorful culture of country and this will be highlighted in electronic and print media. This event will be a huge crowd puller for families along with the corporate clients. Shazia Marri will be doing the ribbon cutting ceremony for this festival on Jan.6.

tions this year and proposals are being invited from trade bodies in this regard. He said that TDAP is planning to carry out assistance and funding plan to nontraditional items' manufacturers with the financial assistance of USAID. Replying to a query by former Chairman KATI, Mian Zahid Husain about export of lubricants and other petroleum products, he said it was brilliant idea and he should submit proposals in this regard so that lubricants could also be included in export commodities.

ISLAMABAD: Members of Pakistan's mango industry gathered at a conference in Islamabad Tuesday to celebrate the successful 2010 mango season- the best year in the history of the country's mango exports. With US support, Pakistani mango growers began exporting their produce to European markets, upgraded infrastructure and methodologies, and set up systems for shipments to the United States. According to a press release issued here Tuesday, with annual production exceeding 1.5 million tons, and demand growing around the world, Pakistan's mango sector has tremendous potential for growth. Increased mango exports will directly benefit two million Pakistanis, raise revenues for numerous businesses, generate employment, and boost the economy throughout Pakistan, especially in Southern Punjab and Northern Sindh.-Online

Training ship inducted in PN fleet KARACHI: Shan Foods Private Limited has won prestigious Consumer Choice Awards 2010 for best packed spices category. The event was largely attended by prominent businessmen, media and luminaries of the city. Federal Minister Makhdoom Amin Fahim was chief guest. Picture shows Faisal Mubin Ganatra, Chief Financial Officer, Shan Foods Private Ltdreceiving the Consumers Choice Award from the Minister. Kaukab Iqbal, Chairman, Consumer Association of Pakistan is also seen in the picture.-Staff Photo

KARACHI: Pakistan Navy Tuesday inducted an exclusive training ship PNS Rahnaward into its fleet. The ship has been acquired for training of cadets and sailors. Chief of the Naval Staff Admiral Noman Bashir was the Chief Guest on the occasion.-Online


3

Wednesday, January 5, 2011 Top Economic Events

Euro falls against dollar as US factory orders rise No strong case to buy euros, hedge fund manager says NEW YORK: The euro slid from three-week highs against the dollar on Tuesday, weighed down by unexpectedly strong US factory numbers, with further pressure likely given doubts over the euro area's bond issuance. Data showed new orders received by US factories rose in November and orders excluding transportation recorded their largest gain in eight months, fueling dollar buying versus the euro. The weakness in commodities has also undermined the euro, which in recent months has moved in tandem with the sector as global risk appetite improved. Traders also said the lapse of the New York expiry in euro/dollar, where there are reportedly option-related bids in the $1.3400 region, contributed to the eurozone single currency's retreat. Those vanilla bids in the euro had kept the

euro partly supported throughout the Asian and London session. "There's always a bearish case for the euro because of the debt situation. That will keep coming back so it's unclear to me ... the upside for owning the euro in a big way," said Aston Chan, portfolio manager at global macro hedge fund GLC in London. GLC has assets under management of $1.2 billion. In midday New York trading, the euro was down 0.3 per cent from late on Monday at $1.3306 after hitting threeweek peaks at $1.3435. More support lies at $1.3280 and $1.3250, Monday's lows, traders said. A fall below key sup-

port at $1.3250 could prompt more selling in the euro as traders target the 200day moving average just below $1.3100.

The euro was supported earlier by the overall improvement in the global industrial cycle. The euro area purchasing managers' index (PMI) for December was revised upward on Monday, suggesting a pick-up in the region's growth momentum. Against the yen, the euro reversed gains to trade slightly lower on the day

Asian currencies

Won, baht up on fund inflows; intervention spotted SEOUL: The South Korean won and the Thai baht rose against the dollar on Tuesday as foreign investors kept looking for higher-yieldings assets in the countries with strong economic fundamentals. But the won and the baht could not break through resistance lines as the foreign exchange authorities were spotted buying dollars to cap their strength. Regional foreign exchange authorities are expected to continue intervening to slow gains in Asian currencies, which are seen staying firm on appetite among foreign investors, analysts and dealers said. The won hit its strongest in more than seven weeks against the dollar on continued demand from foreign investors

for South Korean stocks and as a shipbuilder's overseas order caused investors to build up dollar-short positions. But the foreign exchange authorities were spotted buying dollars to prevent the won ending the local trade stronger than 1,120 per dollar, dealers said. The local currency strengthened to as firm as 1,119.8, the strongest since Nov. 12. "The authorities appeared to carry out smoothing operation to defend 1,120. But it looked difficult for them to reverse the direction, given strong stocks," said a foreign bank dealer in Seoul. The suspected dollar purchases by the authorities boosted caution over further intervention. "It will take quite long for the won to rise more, Unless players dump dollar regardless of

Stg extends gains on robust UK data LONDON: Sterling rose on Tuesday as data showed UK manufacturing activity grew last month at its fastest pace in 16 years, extending earlier gains made on purchases by Asian sovereigns and talk of buying related to a dividend payout. The Markit/CIPS manufacturing Purchasing Managers' Index (PMI) rose to 58.3 in December, its highest since September

1994. The headline figure was above the consensus forecast of 57.0 and November's downwardly revised reading of 57.5. "The PMI numbers are a very positive surprise which shows that the manufacturing sector is still going great guns and not showing any visible signs of disruption by the snow over the month," said Philip Shaw, chief economist at Investec. By 1430 GMT, the pound was 0.8 per cent higher at $1.5612 after rising as far as $1.5646. Gains accelerated as the pair

broke solidly above $1.5600, traders said. Sterling got a lift earlier on buying from Asian sovereign accounts, macro funds and on talk of a UK clearer's dividend payment which required it to buy pounds to pay investors, traders said. There was also talk a supranational entity was buying sterling/Swiss franc, which sup-

ported the UK unit. The euro hit an intraday low against the pound at 85.62 pence, coming off a seven-week high of 86.45 pence last week. Support was seen at the 55-day moving average of 85.55 pence, traders said. "We believe euro/sterling is too high at these levels as the UK austerity drive seems to be on course," said Paul Robson, currency strategist at RBS. He forecast the euro would be trading around 80 pence in six months' time. -Reuters

levels, the won may not able to tough 1,100 any time soon," a local bank dealer. The baht rose up to 1.1 per cent to 29.80 per dollar, an over two-week high, on bids from both local and foreign banks, dealers said. Thailand's central bank was spotted buying some dollars at 30.03 but players should see stronger support at 30.00 next. The Taiwan dollar jumped to near the previous day's high. But traders expect the Taiwan dollar to lose strength before Chinese New Year as fewer exporters are selling the US dollar. The Taiwan dollar rose to as high as T$29.087 per dollar earlier, compared with its previous close of T$30.200 on Monday. -Reuters

Swiss franc falls as risk appetite rises ZURICH: The Swiss franc fell against the euro and the dollar on Tuesday after upbeat US and European economic data fed risk appetite, erasing some of the appeal of the safe-haven Swiss franc after boosting US equities markets. Data from the Institute for Supply Management on Monday showed US manufacturing grew for a seventeenth straight month in December, adding to recent evidence that a recovery in the US economy is gaining momentum. The euro area purchasing managers' index (PMI) was revised upwards from the earlier flash estimate, indicating a pick up in the region's growth momentum, in contrast to a fall in Swiss PMI, which some analysts said was disappointing. The franc slid 0.6 per cent against the euro compared to the New York close, trading at 1.2542 francs per euro at 0738 GMT. The franc was 0.6 per cent lower against the dollar at 0.9393 francs per dollar. The franc was likely to trade in the 0.90 to 0.95 range against the dollar this year, an analyst said. However, Commerzbank technical analysts said chart readings show the franc's rise against the dollar could be in its final stages. -Reuters

Aussie dollar slips from peaks, undercut by floods SYDNEY: The Australian dollar shed some of its recent hefty gains on Tuesday as economically damaging floods provided an excuse for profit-taking, though upbeat global data and strong commodity prices should limit the pullback. The Australian dollar fell to a five-day low of$1.0102 in a thin trading session, down 1.5 per cent from a 28-year peak around $1.0257 touched on Friday. The currency lost some of its shine as investors sold the Aussie to lock in profits after a stellar performance last month when it rose 6 per cent. The Aussie was also hurt by worries about widespread floods affecting the country's mining areas. "It's just an excuse used by a lot of traders... to sell," said David Scutt, a trader at Arab Bank Australia. Floods in the state of Queensland, which produces a third of Australia's coal, have severed roads and closed ports, curtailing production of the commodity, the nation's top export. The blow to export volumes and demand will

likely be a modest drag on Australia's economic growth in the very short-term, with some economists estimating it could shave perhaps 0.4 percentage point off gross domestic product. While traders say they wouldn't be surprised to see the Aussie retest parity, they don't expect a substantial retreat. "Australia produces a lot of things that the rest of the world needs and that should keep the currency well-supported in the near-term," said Scutt. Immediate support is seen at $1.0090, then $1.0042. The Australian currency also gave ground to a firmer euro which edged up to A$1.3204 or up 0.6 per cent on the day, having hit a record trough around A$1.2950 last week. The New Zealand dollar ran into profit-taking on recent hefty gains and pulled back to NZ$0.7718 from a peak of NZ$0.7813 on Friday. Trading, though, was very thin on Tuesday as New Zealand financial markets were closed for an extended New Year holiday. -Reuters

Yuan declines, gradual gains still seen a Chinese commercial bank in Shenzhen. "Definitely, the yuan should rise, but a quick rise is not the right way." China-based traders expect the yuan to appreciate about 2 per cent in the first quarter of 2011, partly propelled by Chinese President Hu Jintao's visit to the United States in mid-January. For this year, it could gain around 6 per cent as Beijing also uses the currency as one of its tools to fight inflation, they said. In November, consumer prices hit a 28-month high. Benchmark one-year nondeliverable dollar/yuan forwards were bid at 6.4360, up slightly from Friday's close of 6.4280. Their implied yuan appreciation in a year's time fell slightly to 2.88 per cent from 3.01 per cent. Dealers widely expect the NDF market may short the US dollar this year, with more confidence of yuan appreciation riding on Hu's visit to Washington in January. -Reuters

Indian rupee down as shares weaken MUMBAI: The Indian rupee bounced off a one-and-half month high on Tuesday and slipped to a one-week low, tracking weak shares, with large demand for dollars towards corporate outflows and some defence-related demand weighing. The partially convertible rupee closed at 44.98/99 per dollar, after hitting 44.99, its weakest since Dec. 29 and 0.6 per cent below Monday's close of 44.70/71. In early trade, the rupee had risen to 44.60, its strongest since Nov. 12. "There was good dollar buying seen from early part of the session today. Some big corporates were heard of, but lots of confusion over the sudden buying today," said Hari Chandramgathan, a senior foreign exchange dealer with Federal Bank. Traders said there was some dollar buying by state-run banks likely for some defence-related purchases of the government. There was good dollar buying seen from foreign banks as well, which could have been custodial flows due to selling in the equity market, traders said. Foreign institutional investors bought about $896 million worth of shares in the last six trading sessions in 2010, taking total

Source Events JPY Monetary Base y/y EUR Final Services PMI GBP Construction PMI EUR Industrial New Orders m/m EUR PPI m/m USD Challenger Job Cuts y/y USD ADP Non-Farm Employment Change CAD RMPI m/m CAD IPPI m/m USD ISM Non-Manufacturing PMI

Source

Events

EUR GBP GBP GBP GBP EUR USD USD

German Unemployment Change Manufacturing PMI Net Lending to Individuals m/m Final Mortgage Approvals M4 Money Supply m/m CPI Flash Estimate y/y Factory Orders m/m Total Vehicle Sales

Forecast 7.9% 53.7 51.1 1.3% 0.3% 101K 2.1% 0.4% 55.6

Previous 7.6% 53.7 51.8 -4.2% 0.4% -3.3% 93K 1.7% 0.5% 55.0

Actual

Forecast

Previous

3K 58.3 0.7B 48K -0.8% 2.2% 0.7%

-12K 57.3 0.9B 47K 0.4% 2.0% -0.1% 12.3M

-8K 57.5 1.5B 45K 0.7% 1.9% -0.7% 12.3M

Previous Day

at 109.18. Despite the increase in risk appetite, volatility in major currencies is still elevated, suggesting investors in the options market remained nervous about global growth prospects. Meanwhile, currency investors remained riveted on the Australian dollar, which fell as severe floods in northeast Australia are expected to impact coal production, a major contributor to its economy. The Aussie dollar fell 1.1 per cent to US$1.0055, retreating from a 28-year peak around US$1.0257 set on Friday. Traders said funds sold Aussie for euros, taking profit on long Aussie positions taken in the run-up to the end of 2010. The dollar rose 0.3 per cent to 81.92 yen with traders seeing offers around 82.50 and near-term resistance at the 55-day moving average of 82.60. -Reuters

SHANGHAI: The yuan closed down against the dollar on Tuesday, even though the People's Bank of China set the yuan's mid-point at a record high, with dealers saying the currency had already risen sharply in the last two sessions. The yuan had been overly active in recent days and gains were likely to be tempered for a while. Spot yuan finished at 6.6088 versus the dollar, down from Friday's close of 6.5897 -- the last trading day before threeday New Year's Day holiday. The PBOC fixed the day's mid-point, from which the yuan can rise or fall 0.5 per cent in a given day, at a record high of 6.6215, but up only 12 pips from Friday's 6.6227. Dealers said a climb of only several pips in the Chinese central bank's mid-point reflected its intention to let the yuan move up slowly. "The yuan rose too fast in the last few days," said a dealer in

Time 4:50 14:00 14:30 15:00 15:00 17:30 18:15 18:30 18:30 20:00

investments in the year to a record $29.3 billion, compared with the $17.5 billion net inflow in 2009. The rupee rose 4.1 per cent in 2010, compared with a 4.7 per cent rise in 2009. In the first trading session of 2011, foreign funds bought 95.71 billion rupees. One-month offshore nondeliverable forward contracts were quoted at 45.24, weaker than the onshore spot rate. One-year onshore forward premium closed at 255.25 points, after rising to 262 points earlier in the day and above its Monday's close of 261.75 points. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange and MCX-SX closed at 45.1725 and 45.18 respectively, with the total traded volume on the two exchanges at $5.7 billion. -Reuters

Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver

As per 22.00 PST Ask High 1.3358 1.3432 0.9470 0.9476 1.5591 1.5642 0.9977 0.9973 1.0066 1.0173 109.7600 110.2400 0.8566 0.8635 1.2642 1.2682 128.1800 128.5700 86.8600 87.7500 0.9489 0.9536 1389.3500 1417.3000 30.1200 30.8200

Bid 1.3356 0.9467 1.5587 0.9973 1.0062 109.7200 0.8562 1.2638 128.1200 86.8000 0.9482 1388.4900 30.0200

Low 1.3328 0.9328 1.5455 0.9918 1.0061 108.9600 0.8564 1.2459 126.3800 86.7200 0.9395 1386.1000 30.0100

London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 04/01/2011 A USD GBP CAD EUR JPY O/N 0.24688 0.55938 0.92500 0.34875 SN 0.09438 1WK 0.25438 0.57063 0.99000 0.51000 0.10288 2WK 0.25656 0.57438 1.04667 0.56875 0.10938 1MO 0.26063 0.58875 1.10000 0.70625 0.12250 2MO 0.28250 0.64625 1.15000 0.81375 0.15000 3MO 0.30281 0.75750 1.23333 0.93750 0.18688 4MO 0.34750 0.84000 1.30500 1.00750 0.24288 5MO 0.40250 0.94500 1.36833 1.09063 0.30000 6MO 0.45581 1.05188 1.44167 1.18125 0.34750 7MO 0.50813 1.12750 1.51000 1.23000 0.39750 8MO 0.56063 1.21313 1.58333 1.28500 0.44188 9MO 0.61375 1.29375 1.64833 1.33375 0.48750 10MO 0.66625 1.37438 1.72667 1.38500 0.51313 11MO 0.72063 1.44313 1.80833 1.42750 0.53750 12MO 0.78094 1.51000 1.90000 1.47000 0.56625

Major Central Banks Overview Central Bank Bank of England European Central Bank Swiss National Bank The Reserve Bank of Australia Bank of Canada Federal Reserve Bank of Japan

Next Meeting

Last Change

January 13, 2011 January 13, 2011 March 17, 2011 February 1, 2011 n/a n/a n/a

March 5, 2009 May 7, 2009 March 12, 2009 November 2, 2010 September 8, 2010 December 16, 2008 December 19, 2008

Current Interest Rate 0.50% 1% 0.25% 4.75% 1% 0.25% 0.10%

Division of National Bank of Pakistan (NBP) KARACHI, January 04,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.75 132.92 114.63 86.43 91.71 86.85 12.82 1.05 14.72 66.70 15.38 22.87 11.04 12.99 305.92 28.01 66.28 23.55 23.35 0.08 2.86

85.55 132.61 114.36 86.23 91.49 86.65 12.79 1.04 14.69 66.54 15.34 22.81 11.01 12.96 305.21 27.94 66.13 23.50 23.29 0.08 2.85

85.37 132.31 114.10 86.00 91.25 86.42 12.75 1.04 14.65 66.37 15.30 22.75 10.98 12.92 304.41 27.87 65.96 23.43 23.23 0.08 2.84

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 04, 2011

KASB

BMA

ELXIR

GSL

ICSL

12.70 12.85 12.90 13.05 13.18 13.32 13.35 13.55 13.68 14.00 14.20 14.20 14.24 14.26 14.28 14.22 14.22 14.30 14.55 14.70

12.60 12.75 12.85 13.08 13.24 13.30 13.40 13.47 13.69 14.00 14.30 14.25 14.31 14.27 14.35 14.10 14.15 14.40 14.50 14.75

12.70 12.80 12.90 13.08 13.20 13.28 13.37 13.50 13.65 14.00 14.19 14.22 14.25 14.27 14.30 14.05 14.00 14.25 14.50 14.70

12.65 12.80 12.85 13.10 13.25 13.30 13.44 13.54 13.72 13.95 14.15 14.17 14.20 14.24 14.30 14.12 14.18 14.25 14.55 14.80

12.90 12.90 12.95 13.05 13.15 13.25 13.30 13.45 13.65 13.90 14.20 14.22 14.23 14.30 14.35 14.00 14.20 14.25 14.55 14.75

0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years

JSCM AvgRate 12.80 12.90 12.95 13.10 13.25 13.35 13.40 13.60 13.75 14.00 14.20 14.25 14.27 14.30 14.40 14.10 14.08 14.40 14.70 14.85

12.73 12.83 12.90 13.08 13.21 13.30 13.38 13.52 13.69 13.98 14.21 14.22 14.25 14.27 14.33 14.10 14.14 14.31 14.56 14.76

Currencies Correlation USD/JPY Period 1 1 3 6 1 2

AUD/USD EUR/CHF EUR/GBP EUR/JPY

week month months months year years

-0.98 -0.89 -0.41 -0.86 -0.67 -0.71

0.77 0.51 -0.45 0.14 0.77 0.77

-0.83 -0.76 -0.80 -0.73 0.30 0.36

0.31 0.78 -0.32 -0.11 0.67 0.71

EUR/USD GBP/USD -0.92 -0.36 -0.77 -0.80 -0.15 0.04

-0.84 0.29 -0.44 -0.65 -0.50 -0.19

NZD/USD USD/CAD -0.99 -0.90 -0.43 -0.77 -0.70 -0.67

0.95 0.81 0.06 0.64 0.23 0.63

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)04/01/2011 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

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 12.50

13.00

12.50

13.00

12.65

13.15

13.20

13.45

13.45

13.70

13.55

14.05

13.65

14.15

13.70

14.20

JSBL

12.70

13.20

12.80

13.30

12.85

13.35

13.25

13.50

13.45

13.70

13.50

14.00

13.70

14.20

14.00

14.50

ASPK 12.60 CIPK

ABPL

ASK

13.10

12.65

13.15

12.75

13.25

13.20

13.45

13.40

13.65

13.50

14.00

13.65

14.15

13.75

14.25

12.55

13.05

12.70

13.20

12.70

13.20

13.25

13.50

13.45

13.70

13.55

14.05

13.70

14.20

13.90

14.40

DBPK 12.40

12.90

12.50

13.00

12.70

13.20

12.95

13.20

13.10

13.35

13.30

13.80

13.50

14.00

13.60

14.10

FBPK 12.50

13.00

12.60

13.10

12.75

13.25

13.20

13.45

13.45

13.70

13.60

14.10

13.75

14.25

13.85

14.35

FLAH 12.55

13.05

12.65

13.15

12.75

13.25

13.20

13.45

13.40

13.65

13.45

13.95

13.60

14.10

13.70

14.20

HBPK 12.55

13.05

12.65

13.15

12.75

13.25

13.20

13.45

13.40

13.65

13.50

14.00

13.60

14.10

13.75

14.25

HKBP 12.60

13.10

12.65

13.15

12.70

13.20

13.10

13.35

13.30

13.55

13.35

13.85

13.50

14.00

13.75

14.25

NIPK

12.50

13.00

12.75

13.25

13.15

13.65

13.45

13.70

13.60

13.85

13.65

14.15

13.70

14.20

13.75

14.25

HMBP 12.60

13.10

12.70

13.20

12.85

13.35

13.25

13.50

13.35

13.60

13.50

14.00

13.60

14.10

13.70

14.20

SAMB 12.50

13.00

12.70

13.20

12.80

13.30

13.25

13.50

13.45

13.70

13.45

13.95

13.65

14.15

13.75

14.25

MCBK 12.50

13.00

12.60

13.10

12.60

13.10

13.15

13.40

13.30

13.55

13.40

13.90

13.50

14.00

13.75

14.25

NBPK 12.30

12.80

12.50

13.00

12.70

13.20

13.20

13.45

13.30

13.55

13.50

14.00

13.65

14.15

13.75

14.25

SCPK 12.35

12.85

12.50

13.00

12.65

13.15

13.10

13.35

13.25

13.50

13.45

13.95

13.50

14.00

13.70

14.20

UBPL 12.40

12.90

12.50

13.00

12.60

13.10

13.20

13.45

13.40

13.65

13.50

14.00

13.70

14.20

13.70

14.20

AVE

13.02

12.62

13.12

12.73

13.23

13.21

13.46

13.39

13.64

13.49

13.99

13.63

14.13

13.74

14.24

12.52


4 Tuesday, January 4, 2011

Birth Anniversary of Shaheed Zulfikar Ali Bhutto

The Financial Daily International Vol 4, Issue 144

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi

A Leader of Deeds...

Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir

Qamar Zaman Kaira

Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Legacy of ZA Bhutto The biggest tribute any nation could pay to one of its leaders is following his teachings in everyday life. Quaid-e-Azam Mohammad Ali Jinnah liberated Pakistan from the colonial British rule and Quaid-e-Awam, Zulfikar Ali Bhutto brought together a nation that had faced a humiliating defeat at its rival's hands. Jinnah's ideology culminated in the creation of Pakistan and Bhutto's vision laid the foundation of Muslim Ummah's unification. He along with other visionary leaders of Muslim Ummah like Great King Faisal of Saudi Arabia, President Soekarno of Indonesia, and President Gaddafi of Lybia created a forum, Organisation of Islamic Conference, the first step towards formation of common market of Muslim countries. Its antagonists murdered King Faisal, toppled the governments of Soekarno, and Bhutto to dent the unification and initiate fragmentation. He was a staunch believer of the fact that a country can progress only when its masses' living conditions are improved, its foreign policy can remain independent when its economic conditions are strong, and its frontiers can be guarded when it has an appropriate deterrence level. He gave a new dimension to Pakistan's foreign policy. During his regime Pakistan developed most cordial relationship with three of the superpowers of that time, USSR, China, and the United States of America. His largest contribution is the unanimous approval of the Constitution of Pakistan in 1973. Though, many tried to bring changes in it to serve their vested purposes but failed and the recent 18th and 19th amendments have removed many of those distortions that were brought through presidential ordinances rather than Houses. His vision of empowering the masses, strengthening democracy and fostering economic development through active involvement of all the strata of society could ensure sustained growth. Though, many of his opponents were scared of his charisma but it was the same force that brought the nation out of the pessimistic stance. Pakistan's borders can be best guarded not by accumulating lethal arsenal but developing cordial relationship with the neighbours. One should not forget that devil makes work for idle hands and a starving person could commit even the worst of crimes. Pakistan's enemies do not want the country to make progress and let the benefits of prosperity to trickle down to masses. They also wish to create a constant state of antagonism among the federating units. To make the country prosperous, basic needs of the most deprived groups must be met at the earliest and it shouldn't be done by charity but employment.

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 inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.

Q

uaid-e-Awam Shaheed Zulfikar Ali Bhutto was born on 5th January 1928 at Larkana. His father Sir Shahnawaz Bhutto was an eminent political leader of the subcontinent. He led the movement for separation of Sind from Bombay to save the people of Sind from the long and arduous journey to Bombay for attending courts or other official matters. Sir Shahnawaz paid special attention to the political grooming of his son by narrating to him the stories pertaining to the family prestige, chivalry and service to humanity. His mother used to advise him to help the poor and the oppressed. Shaheed Zulfikar Ali Bhutto had molded his personality in consonance with his family honour, prestige and the perceptions of his mother. It is said that Sir Shahnawaz was a minister in Bombay during 1935 under the British regime. One day Governor Lord Braboran invited Sir Shahnawaz Bhutto at a dinner along with his sons. Governor Lord Braboran while shaking hands with the Imdad Ali Bhutto, the elder son of Sir Shahnawaz Bhutto, remarked how handsome this young man is. Imdad Bhutto Ali thanked the Governor for the compliment and replied that the Governor himself was very attractive. Quaid-e-Awam Bhutto on his turn observed that the Governor was beautiful because he was being fed on the blood of our beautiful country. The governor was extremely confounded and kept looking at him in amazement and then pointing his finger to Sir Shahnawaz Bhutto said" your son is a poet and a revolutionary". On return from the banquet Sir Shahnawaz Bhutto asked his son what was the need to say such a thing there? In a swath of emotions, Zulfikar Bhutto replied, it is our country and they have forcibly usurped it. Every country of the world which has been enslaved is our country. After saying this he started crying. Quaid-e-Awam received his primary education in Larkana and then in Bombay and after that he was

sent to London for higher education. Puilo Moodi who was a class mate of the Quaid-e-Awam says that during his student days Bhutto was extremely sensitive, avid supporter of the independence movement and a great admirer of Quaide-Azam Muhammad Ali Jinnah. During that period he acquired a deep insight into the world history. He had an intimate knowledge of the geographical history of the world and the world civilizations. After completing his education he returned to his country and joined the legal profession. When Ayub Khan invited him to join his cabinet to benefit from his ability and intelligence, he could not refuse. His first priority was to ensure that no single power should enjoy monopoly over the world affairs. He was a staunch opponent of colonialism. He played a significant role in establishing friendly relations with Soviet Union and China. He left Ayub cabinet when he signed Tashkent Agreement after the 1965 war. On 30th November he founded Pakistan Peoples Party (PPP) with a manifesto "Islam is our religion, Democracy our politics, Socialism our economy and People are the source of Power" Under this manifesto he also chartered a programme for providing Roti, Kapra Aur Makan. He brought the politics out of the drawing rooms of the palaces to the threshold of the dwellers of the muddy houses and declared "the political paradise is under the feet of the masses". It was a philosophy which implied that it is the prerogative of the people to elect whomsoever they want to reject those who fail to win over their franchise. The politics of Shaheed Zulfikar Ali Bhutto revolved around the poor, labourers and down-trodden segments of the society. His captivating and magical personality gave political consciousness and courage to the people enabling them to walk with their heads held high. In the 1970 elections, the people heavily voted for the nominated candidates of Shaheed Zulfikar Ali Bhutto. It is an irrefutable reality that the Allah Almighty blessed Shaheed Zulfikar Ali Bhutto with great honour, respect and prestige. No wonder that Bhutto had inherited tremendous honour and estate and throughout his life his conduct reflected the traits of honour and bravery. He was passionate about the honour and independence of his country which was amply evident from his address to the Security Council on 14th December 1971. It

was an address of a revolutionary poet. He said Security Council was like a fashion house where amorphous bodies are draped in glittering clothing. Today people are talking about ground realities here and nobody is mindful of the sanctity of borders. I have neither come here to accept defeat nor would tolerate any disgrace for my country. What was illegitimate till yesterday is being declared legitimate today by the Security Council. The delegates of Soviet Union, a comrade country, are laughing and thumping the desk as if they belong to a Nazi country. My heart is shedding tears of blood. After saying this he tore apart the notes of his speech and left the hall. Some elements harbouring prejudice and hatred against Quaid-eAwam have been striving to create the impression that he had shredded the papers of a resolution submitted in the Security Council by Poland and had he not done this the country could have been saved. The reality is that he tore his own notes. Even otherwise the Polish Resolution was a blatant attempt to push Pakistan into accepting a disgraceful defeat. The detractors of Bhutto have not even read the Polish resolution. As a follow up to the adoption of that resolution our General would have been tried for war crimes and Pakistan would have been put in the dock. Probably on 18th December 1971 the Quaid-e-Awam addressing a press conference said "Tell the world to get off from our back and also keep its shadow away from us. We have the courage to rebuild our country and we will show them" Bhutto was a man of infallible determination. When he was given the responsibility to lead a crestfallen nation, the country was in ruins. More than ninety thousand of our civilian and military officers and soldiers were POWs in India and five thousand square miles of our territory was under Indian occupation. The nation was in a state of despair and despondency. In his first address to the nation after assuming office he declared we have lost a war but not the courage, we will rebuild the country. He stood true to his words. He visited India and as a result of his parleys with the Indian Prime Minister Indira Gandhi (late) the captured territory and the POWs were retrieved honourably. Lord Braboran was right to remark that the son of Shahnawaz Bhutto was a poet and a revolutionary. There is no denying the fact that from 1938 to 4th April 1979 he lived his life as a poet and a revolu-

tionary. Even the death cell could not break his determination and his inherited courage. One may or may not agree but the fact is that Zulfikar Ali Bhutto created a new Pakistan; a Pakistan which for the first time breathed in an atmosphere of independence; a Pakistan which entered the realm of self-esteem after casting off the shackles of slavery; a Pakistan that had become a welfare state for its citizens where the breach between poor and rich had vanished and where the class system had crumbled. He gave a unanimous Constitution in 1973 and established the ascendancy of the elected parliament. He initiated nuclear programme to thwart the nefarious designs of our enemies and to ensure that no one could cast his evil eye at us. He established Heavy Mechanical Complex that produces tanks and ammunition. The same institution produced Al-Khalid tank that is unmatched in the world. Quaid-e-Awam built Aeronautical Complex, an institution which today is a custodian of our defense. Quaid-e-Awam loved the cultures of different people living in the country. He was aware of the fact that the identity of a nation depended on promotion and survival of different cultural entities forming that nation. A renowned columnist and intellectual Abbas Athar says Bhutto who wanted Pakistan to be a nuclear power even if the people had to eat grass, also envisioned it to be economically and socially strong and self-respecting country. But he was hanged to prove that no grass grew on the gallows. Allow me to say that Quaid-e-Awam Zulfikar Ali Bhutto rebuilt our beloved country besides restoring its dignity and self-esteem. But alas an evil eye struck this dignified country. On 5th July the country fell in the hands of power seekers and greedy elements that perpetuated the machinations with the sole purpose to prolong their unconstitutional and unethical rule. The dignified, self-respecting and independent Pakistan that Bhutto had built was mortgaged to the outside powers by these self-seekers and power hungry elements. The nation is still suffering from the consequences of their evil actions. As a student of history when I look back at the events of the past, I have a nauseating feeling. Had the tragedy not happened on 5th July, our country would not have been there, where we find it today. (The Writer is Federal Minister for Information and Broadcasting)

The Ultimate Guiding Light Shazia Marri

T

oday, when people reminisce about the 'good old days' they invariably mean the golden era of the 70s. The time when Pakistan was known the world over as a progressive nation; when development and traditions co-existed; when looking towards the future didn't automatically mean you were disregarding the past; when being modern and enlightened wasn't equated to being a desperate copycat of the west; when the world respected us as a nation; and when we respected ourselves. An age when things looked rosy and the future loomed bright. This was the era of Prime Minister Shaheed Zulfikar Ali Bhutto. The man who made Pakistan shine out on the world map and brought to his country peace, prosperity, and dignity it deserved. A man who in his life and after his death left behind such indelible prints their impact will reverberate through the generations. He was a man so deeply committed to his ideals and his beliefs that he chose death over surrender. A man with such strength of character that even those who never met him are unwavering in their commitment to follow the path he carved. How

then, does one endeavour to pay homage to this man - this institution - Zulfikar Ali Bhutto - on his 83rd birthday? To attempt a tribute to Shaheed Zulfikar Ali Bhutto in a few hundred words is akin to showing a lamp to the sun. At the age of 29, as the youngest member of Pakistan's delegation to the United Nations, Zulfikar Ali Bhutto took the world by storm; At 30 he became the youngest Cabinet Minister in Pakistan and at 34 he was given the coveted portfolio of Foreign Affairs. Among his achievement during this time, were to conclude the Sino-Pakistan boundary agreement and convince the then President of the wisdom of establishing closer economic and diplomatic links with Turkey and Iran, the initiatives that have paid off unbelievable dividends for Pakistan. At 39, his unwavering principles compelled him to resign, and he founded what became the largest and most popular political party in the country. Over the next decade he was imprisoned, released, and elected Prime Minister. Indeed, he was the leader of the people - Our true Quaid-eAwam. Prime Minister Bhutto gave Pakistan a unanimous, democratic and Islamic constitution with provincial autonomy and human rights. This was the first constitution to recognize human rights of the people of Pakistan. He pushed Pakistan into the atomic age as he introduced nuclear medicine and nuclear power plants into the country. His progressive socio-economic and democratic ideas gave him the strength and popular support to consolidate the state on an egalitarian agenda to attain roti, kapra

and makaan. By signing the Simla Accord in 1972 he negotiated longest peace between India and Pakistan. He built the Karakorum Highway in the Northern tip of Pakistan down to Port Qasim in the Arabian Sea, and countless things in between. Bhutto's meteoric rise in the hearts of the people was unacceptable to the anti-people forces. Falsely accused, imprisoned, and convicted, he was victim of a judicial murder thinly veiled under the guise of justice. And then came the dark ages. An era the backlash of which we continue to suffer today. A time when the voice of reason was subjugated and the voice of bigotry rang loud and clear; a time when progress gave way to oppression, and when peace and tolerance became taboo; a time when hypocrisy triumphed over honesty, and personal gains gained precedence over principles; a time when the wicked and the devious ruled over the moral and the upright. It was this time that pushed Pakistan back and stymied our development. The time we now refer to as the Zia era. An unconscionable rule which left this country grappling for decades to come, and wrought destruction such that even the democratic government that followed couldn't undo its ill effects. Today, 83 years after he was born, Pakistan is united in the belief that Shaheed Zulfikar Ali Bhutto symbolizes the nation's pride. A man with such foresight, that his vision for Pakistan stands true decades after his martyrdom. A man who believed firmly in the manifest capacity of each individual to make his own future, as he made his. He gave himself a goal. He envisioned serving his people

and his land. He did just that. He believed that an individual should never succumb to tyranny and injustice. He gave his life to live up to his beliefs. He was a true leader of the people who lived and died for them. A man of deep, unshakeable faith and principles, Bhutto chose martyrdom over appealing to a tyrant for his life. In death he was, as in his life, an unparalleled leader - an unmatched visionary. And it is his vision and his beliefs that compel people to follow the creed of Bhuttoism - for Pakistan's well-being. Indeed, history has never forgiven those who murdered him, while he has become a legend! Today people look back at Bhutto's time as the most promising in Pakistan's history, since post Zia, every era has been primarily about damage control. Yes, we didn't get as far as should have; yes we regressed when we should've developed; yes, we continue to be governed by archaic norms and oppressive mindsets; and yes, today our standing in the world might not be what we truly deserve. But nothing is unsalvageable, no challenge insurmountable, no goal incredible - when one has the passion and the tenacity to achieve. Shaheed Zulfikar Ali Bhutto's passion was to serve his people and to live in their hearts he achieved both. Likewise, his government today is passionate about bringing the country on the fast track to development which he envisioned and initiated four decades ago. And today, on his 83rd birthday, let this passion ignite in the heart of each and every Pakistani - together let us finally bring to Pakistan, the glory it deserves!


5

Wednesday, January 5, 2011

South East Asian stocks

Europe shares hit 1-wk closing high as commods gain KSE-100 Index Opening Closing Change % Change Turnover (mn)

11,849.46 12,110.26 260.80 2.20 219.56

LSE-25 Index Opening Closing Change % Change Turnover (mn)

3,632.39 3,747.41 115.02 3.17 7.81

ISE-10 Index Opening Closing Change % Change Turnover (mn)

2,985.23 3,038.03 52.80 1.77 0.48

Major Gainers

Symbol ULEVER WYETH NESTLE RMPL SIEM

Close

Change

4,378.00 1,100.00 2,455.00 2,126.99 1,224.49

62.79 48.30 34.00 27.34 21.95

Major Losers

Symbol

Close

Change

IDYM PSEL PECO HINO BATA

296.31 162.00 240.00 128.13 670.00

-15.59 -6.25 -5.97 -5.87 -5

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA KESC ANL FFBL NBP

14.39 3.38 9.33 36.83 76.51

45.28 35.63 10.71 10.60 7.21

Active Issues Plus Minus Unchanged

299 86 19

Sector Updates FERTILISER 000 tonnes

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

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)

33,929 32,092 7,087 6,813

INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753

HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%

OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)

PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)

932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1

Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046

Volume high, Malaysian index hits intra-day peak

KSE leaps to 2-1/2-yr high Nawaz Ali KARACHI: After a heavy bearish day earlier, Karachi Stock Exchange (KSE) saw a major bull-rush Tuesday which send it soaring above 12,100 levels after more than two and a half years. Easing political tension and buying in anticipation of better December-ending corporate results were the protagonists of this rally, analysts say. The benchmark KSE 100Index increased by 260 points - 2.2 per cent -- to close at 12,110 points, KSE 30-Index jumped by 309 points - 2.72

per cent to close at 11,700 points and KSE all-share index rose by 178 points 2.17 per cent to close at 8,414 points. "The bullish activity in oversold market followed the government's consent to deliberate the concerns/ advices of coalition partners to stabalise present political crises", said Ahsan Mehanti, Director Arif Habib Investments. Higher banking spreads, international oil prices over $91, and expectation of strong result announcements this quarter catalysed positive activity at KSE, he

Indian shares snap 4-day rise MUMBAI: The BSE Sensex snapped a four-session winning run and eased 0.3 per cent on Tuesday, as investors took profits amid concern accelerating inflation pressures could push up borrowing costs. Lenders such as State Bank of India, ICICI Bank and HDFC Bank, all of which had posted spectacular gains in 2010, led the losers on talk the Reserve Bank will raise interest rates. The Reserve Bank of India (RBI), which had raised rates six times in 2010 before pausing in December, is scheduled to review policy on Jan. 25. Expectations for good quarterly earnings helped limit the drop in share prices. "The market may form a top before earnings come in next week, which is generally the case when results are expected to be good. There may be some consolidation after the results," said Arun Kejriwal, director of research firm KRIS. The 30-share BSE index closed down 62.33 points at 20,498.72 with 18 of its components declining. The benchmark had risen 17.4 per cent in 2010 on the back of record foreign portfolio investments of $29.3 billion. The banking sector index dropped 2.5 per cent, after rallying more than a third in 2010.

In the broader market, gainers and losers were nearly equal in number on relatively better volume of 445 million shares. Top lender State Bank of India dropped 3.1 per cent, while ICICI Bank and HDFC Bank shed 3.5 per cent and nearly 2 per cent respectively. "The RBI has tough choices to make -- tackling inflation and taking care of growth," said Sunder Subramaniam, senior manager of institutional sales at brokerage Sharekhan. "There are expectations building up that we could see an interest rate hike in some time. Also, bank stocks have performed well, and there is some profit booking." Maruti Suzuki, which sells every second new car in India, closed 0.1 per cent higher after it joined peers in reporting strong December sales. Its sales rose an annual 17 per cent in December, usually a slower month, but were down 11.8 per cent from November. Energy major giant Reliance Industries climbed 2.1 per cent in an attempt to catch up after it underperformed the Sensex with a nearly 3 per cent decline in 2010. Firm base metal prices pushed non-ferrous metals producer Sterlite Industries 0.6 per cent higher.-Reuters

ANNOUNCEMENTS Company AL-Abbas Sugar Hussein Sugar

Period Yearly Yearly

Div/Bon/Right PAT (Rs in mn) 50%D 204.85 -170.96

EPS(Rs) 11.80 -14.13

added. Bulls were there since the start of the session as market opened with1 points up its green column. Gains then kept pouring in on reports of easing political situation and hopes of a positive outcome of the meetings of different political parities. Further the expectations of some better corporate results/payouts and rising international oil prices too triggered buying activities. Therefore index crossed the psychological barrier of 12,000 points and just near the closing bells touched its highest level of the day of

FTSE starts year with 31-mth high LONDON: Britain's top shares rose sharply on Tuesday, the first session of 2011, lifted back above the key 6,000 level by heavyweight oil stocks and banks, as solid economic data prompted a return of investor risk appetite. The FTSE 100 ended up 113.93 points, or 1.9 per cent, at 6,013.87, its highest close since the start of June 2008, easily recovering the 1.2-per cent loss it suffered on New Year's Eve. Tuesday's advance followed strength from US and European markets on Monday when London was closed. Trading volumes came back to more normal levels after the thin sessions seen over the holiday period, with 104 per cent of its 90-day daily average having traded. BP was the standout blue-chip gainer, up 5.9 per cent at a seven-month high, after reports rival Royal Dutch Shell considered a takeover bid, and that economic damages from its oil spill will be lower than forecast. Shell gained 1.1 per cent. "We're playing catch-up to the European markets which had a good start to the year ... the rally is being supported by some very good economic data," said Angus Campbell, head of sales at Capital Spreads. Data on Tuesday showed that British manufacturing activity grew at its fastest pace in more than 16 years in December, complementing data from the US on Monday showing its manufacturing sector grew for a 17th consecutive month in December. See # 17 Page 11

‘Strong China start’ boosts Hong Kong HONG KONG/SHANGHAI: Chinese stocks started 2011 in a bullish mood, giving a lift to Hong Kong's market, as investors snapped up beaten down shares of companies most likely to benefit from a recovery in global economic activity. Data showing that manufacturing accelerated in the US and Europe in December and that growth in China and India slowed to more sustainable levels lifted investor appetites for risky assets. The Shanghai Composite, Asia's worst performing market in 2010 with an over 14 per cent decline, rose 1.6 per cent. Hong Kong's Hang Seng rose 1 per cent on good volume as turnover rebounded from the thin levels seen over the holidays. China's purchasing managers' index (PMI) published over the weekend showed that manufacturing growth slowed in

December while factory inflation moderated, trends which investors hope will lessen the need for harsher tightening policies from Beijing. "The lastest PMI data signals that China's economy is not overheating and that existing tightening policies have taken effect," said Meng Xiangjuan, analyst at Shenyin Wanguo Securities Co. "If the PMI data keeps falling, policymakers are likely to hold off certain tightening measures." A plunge in China's money market rates also signaled that a cash crunch in the financial system that had pegged the markets back in December was easing. The materials sector rose as a rally in commodity prices, in particular coal, showed few signs of letting up. Optimism over demand on the back of a recovering global economy and supply disruptions in Australia due to heavy

flooding is supporting coal prices, benefitting Chinese producers. Cyclical companies -- those most directly affected by changes in economic activity -were good bets over the next few months, said a trader at Daiwa Capital, saying they would benefit from increased capital expenditure in the last quarter. State-owned China Shenhua Energy Co Ltd, the world's top producer of coal by market value, rose 2 per cent in Shanghai, while Hong Konglisted Shenhua shares were up 2.9 per cent. Shipping-related stocks also advanced on optimism that stronger manufacturing globally would boost demand for exports. Container port operator Cosco Pacific rose 4.5 per cent, while China Shipping Container Lines jumped 5 per cent.-Reuters

12,113 points (+ve 264 points). Foreign investors continued with their buying as according to NCCPL there was a net foreign buying of $1.3 million on Tuesday. On the local side banks undertook a net buying of $11.01 million while individual investors, companies and mutual funds net-sold stocks worth $5.53, $4.18, and $1.49 million respectively. Volumes saw a significant improvement as 219.5 million shares traded during the day which is 128.4 million shares more as compared to a turnover of 91.1 million

shares a day earlier. Lotte Pakistan stood as the volume leader with 45.28 million shares followed by KESC with 35.63 million shares and Azgard Nine with 10.71 million shares. Ahmed Rauf, equity dealer at JS Global Capital said that oil, fertiliser and textile stocks led the rally on the back of increasing commodity prices and margins. LOTPTA led volumes in the face of an expected decrease in its freight costs. Out of total 404 active issues 299 advanced and 86 declined while 19 issues remained unchanged.

Nikkei up 1.7pc, hits a closing high TOKYO: Japan's Nikkei stock average climbed to a 7-½ month closing high on its first day of trading for the year, helped by strong global manufacturing data that lifted equities worldwide and by a bounce in the dollar against the yen. Buying of Nikkei futures bolstered the cash market, with analysts saying there were few sell orders and adding that sentiment for the index remains positive after a strong run that has seen it gain 13 per cent since November. "Investors may stay cautious before US jobs data this Friday, but they are optimistic overall," said Hiroichi Nishi, general manager at Nikko Cordial Securities. This quarter, expectations for decent results from US and Japanese firms will likely provide momentum for further gains, analysts said. "US corporate earnings releases for the OctoberDecember quarter kicking off next week will likely to provide strength and drive global markets higher this month," said Tsuyoshi Segawa, equity strategist at Mizuho Securities.

"I wouldn't be surprised if the Nikkei tests the 11,000-line this quarter." The benchmark Nikkei finished 1.7 per cent or 169.18 points higher at 10,398.10. The broader Topix index gained 1.5 per cent to 911.80. Investors piled into lagging Tokyo equities late last year, helping the Nikkei limit its losses for 2010 to 3 per cent. A Reuters poll last month showed the Nikkei is likely to end 2011 at the pre-Lehman level of 12,000, according to a median forecast of 24 market participants. US manufacturing grew for a 17th straight month, the Institute for Supply Management said on Monday. The data followed reports of faster growth in European manufacturing and bolstered investors' appetite for riskier assets. A bounce in the dollar back to about 82.20 yen after it slipped below 81 at the year-end to its lowest in nearly two months was also seen as a positive short-term factor, traders said, although the dollar's recent softness is likely to weigh on See # 16 Page 11

US stocks late-morning

Wall St dips as consumer shares weigh NEW YORK: Stocks fell on Tuesday on worries that rising food costs will sap supermarket profits, hurting consumer stocks and denting growing optimism about the economic outlook. Shares of Supervalu Inc nearly 7 per cent after Morgan Stanley told investors to cut holdings in the stock, saying rising food costs will crimp margins. Safeway Inc and Whole Foods Market also slid. Soybean and corn prices traded near two-year highs Tuesday. "We're light on consumer staples. One of our concerns is commodity prices are going to bite into profits," said Thomas Villalta, portfolio manager for Jones Villalta Asset Management in Austin, Texas. Materials were the biggest losers, with the S&P materials index falling 1.1 per cent, as metals prices dropped after recent gains. The market's pause followed a strong start to the new year on Monday and a robust rally through the end of 2010. The Dow and S&P 500 recently hit two-year highs as economic data pointed to solid US recovery. The Dow Jones industrial average gained 2.23 points, or 0.02 per cent, to 11,672.98. The Standard & Poor's 500 Index dropped 4.66 points, or 0.37 per cent, to 1,267.21. The Nasdaq Composite Index fell 15.46 points, or 0.57 per cent, to 2,676.06. S&P 500 fourth-quarter earnings are forecast to rise about 31 per cent from a year ago, according to Thomson Reuters data. While many analysts see another year of gains for the S&P 500, Morgan Stanley offered a more contrarian view, forecasting a year-end target for the S&P 500 below the close for 2010. Monday's move was accompanied by a rise in volume, with more than 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq -- above the 50-day moving average. The pace held strong for a second day, with 3.27 billion shares traded near midday.-Reuters

Dhiyan

BUSINESS TO GO GOOD Salman Naqvi, Head of Sales Aba Ali Habib Securities The bullish activities are likely to sustain in the coming days as companies are expected to announce good corporate results. Also, leverage product may be launched soon as President Zardari is taking keen interest in the stock market issues. Therefore index can reach 12,500 level soon. Investors are recommended to lay hands on oil & gas and power scrips and selective stocks of the banking and fertiliser sectors. However, increase in interest rates and rising inflation could mar the market. Market would remain positive today.

Khalid Iqbal Siddiqui, Head of Research Invest & Finance Securities Market would see some negative activities today as the sad incident of the of Governor Punjab Salman Taseer's assassination would send investors into a cautious mode. However the overall market outlook, in the short-term, is positive as corporate results --which are expected to be better-- would underpin it to some extent, therefore index can touch 12,500 level in the coming days, provided no negative news arrives from the political front. On the other hand, a positive development on Margin Trading System (MTS) would also trigger the market. Investors are advised to be cautious and hold. Moreover, they can sell their holdings at higher levels.


6

Wednesday, January 5, 2011

Market Volume

219,563,123

Value

9,242,102,583

Trades

86,740

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

299 86 19 404

All Share Index

12,110.26 12,115.07 11,849.46 h260.80

Current High Low Change

KSE 30 Index

8,414.08 8,418.14 8,235.43 h178.65

Current High Low Change

KMI 30 Index Current High Low Change

11,700.33 11,710.87 11,390.58 h309.75

19,370.59 19,383.03 18,804.61 h565.98

OIL AND GAS

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index

Performance of SR Industrial Transportation Index

Open 1,535.69 Turnover 14,874,314 P/E (x) 11.29 Company

KSE 100 Index

Symbols

PE

Open

Attock Petroleum 691 5.86 332.15 Attock Refinery 853 7.03 119.82 BYCO Petroleum 3921 - 10.97 Mari Gas Company 735 16.68 120.59 National Refinery 800 4.13 269.86 Oil & Gas Development XD 43009 11.59 169.54 Pak Petroleum 11950 8.94 215.25 Pak Oilfields 2365 7.26 294.66 Pak Refinery Limited 350 - 103.43 P.S.O 1715 5.02 293.17 Shell Gas LPG 226 - 33.00 Shell Pakistan 685 10.61 202.09

High 339.00 125.80 11.29 123.20 282.00 171.75 220.75 309.00 107.88 299.90 33.99 207.44

High Low 1,571.92 1,536.75 Total cos Defaulter cos P/BV (x) ROE (%) 3.67 32.54 Low 333.50 119.71 10.96 121.50 270.00 169.50 215.30 295.75 104.75 293.25 33.00 202.24

Close Chg 338.12 5.97 125.44 5.62 11.21 0.24 123.07 2.48 278.99 9.13 171.28 1.74 219.83 4.58 307.65 12.99 107.81 4.38 296.75 3.58 33.51 0.51 206.95 4.86

Close Change 1,565.27 29.58 Listed cap Market cap 65,194.15 mn 1,211,553.47 mn Payout (%) Div Yield (%) 55.94 4.96 Last 60 days High Low

Volume 307124 3478088 1737926 40376 319284 498055 2868771 4951077 30919 2309178 5614 65828

374.20 137.20 12.49 128.90 282.00 171.75 221.75 309.00 114.50 299.90 40.28 209.89

287.99 79.23 10.05 107.00 202.89 144.61 172.55 231.01 55.00 262.00 29.10 182.05

2010 Div BR (%) (%) 300 31 200 55 90 255 80 40

% Change 1.93 5-Day High 1,565.27 5-Day Low 1,527.44 2011 Div BR (%) (%)

20B - 15.00 20B -

-

CHEMICALS

Open 729.62 Turnover 12,884 P/E (x) 5.67 Company

Paid up Cap(mn)

Pak Int Cont.Terminal PNSC

1092 1321

PE 7.16 39.77

Open 70.78 36.27

High 72.25 37.00

High Low 744.42 730.29 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 25.53 Low 71.00 36.01

Close Chg 71.58 36.59

0.80 0.32

Close 737.35 Listed cap 3,242.17 mn Payout (%) 11.08

Volume 9856 3028

Change 7.73 Market cap 12,899.13 mn Div Yield (%) 1.95

Last 60 days High Low 77.77 40.42

60.05 32.36

Company

Company

Paid up Cap(mn)

High Low 1,433.96 1,379.26 Total cos Defaulter cos P/BV (x) ROE (%) 3.02 35.00

PE

Open

High

Low

Agritech Limited 3924 8.59 Bawany Air 68 66.50 BOC (Pak) 250 12.94 Clariant Pak 273 6.87 Dawood Hercules 1203 8.18 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 10.77 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.40 Fauji Fert.Bin Qasim 9341 6.95 Gatron Ind 384 2.33 Ghani Gases Ltd 725 8.65 ICI Pakistan 1388 8.24 Lotte Pakistan 15142 5.14 Nimir Ind Chemical 1106 Sardar Chemical 60 Shaffi Chemical 120 Sitara Chem Ind 214 10.58 Sitara Peroxide 551 14.36 Wah-Noble 90 7.07

23.40 7.71 89.84 177.94 192.47 2.76 7.95 2.89 11.00 190.47 14.15 10.67 123.51 35.08 43.44 11.33 141.30 13.43 1.95 0.90 2.47 125.50 12.83 35.90

23.70 8.65 94.33 180.49 198.50 2.98 8.43 3.20 11.09 196.94 14.49 11.25 129.68 36.83 44.35 11.65 147.15 14.43 2.05 1.10 2.69 130.50 13.35 36.75

22.52 7.98 91.30 178.99 194.00 2.70 7.80 2.85 11.00 191.49 14.12 10.60 124.25 35.28 43.49 11.35 141.76 13.40 1.89 1.10 2.30 128.01 12.83 36.00

Close Chg 23.70 7.98 94.23 179.70 197.36 2.89 8.24 3.16 11.00 196.10 14.43 11.18 129.67 36.83 43.50 11.42 146.22 14.39 2.02 1.10 2.31 129.12 13.21 36.75

0.30 0.27 4.39 1.76 4.89 0.13 0.29 0.27 0.00 5.63 0.28 0.51 6.16 1.75 0.06 0.09 4.92 0.96 0.07 0.20 -0.16 3.62 0.38 0.85

Close 1,430.81 Listed cap 52,251.88 mn Payout (%) 48.81

Change 58.18 Market cap 322,838.00 mn Div Yield (%) 5.65

Last 60 days High Low

Volume 501 230 29702 19059 148122 194092 128334 2666140 2400 3747305 186439 2406673 3500906 10595533 276 34052 806641 45284732 287886 2500 2010 2014 150779 3901

24.85 12.75 94.33 185.95 200.99 3.74 9.25 4.24 13.79 200.88 15.20 11.39 129.68 38.05 46.59 13.85 147.15 14.43 2.74 1.64 3.40 139.40 14.69 43.75

20.26 7.16 72.00 149.72 163.55 1.99 3.41 1.31 9.15 173.30 12.90 9.16 105.00 27.51 38.03 11.25 116.00 8.39 1.30 0.90 1.80 101.00 8.00 32.00

2010 Div BR (%) (%) 5 15 40 15 40 95 17.5 20 55 25 50

10R 5B -

% Change 4.24 5-Day High 1,430.81 5-Day Low 1,372.62 2011 Div BR (%) (%) -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,161.02 Turnover 259,913 P/E (x) 6.08 Company

High Low 1,214.89 1,180.62 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 7.47

Close 1,212.48 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 50 411

9.04 7.01

16.68 46.00 43.78

17.68 47.98 45.45

17.00 43.76 44.80

17.68 1.00 47.00 1.00 45.40 1.62

256706 802 2405

Century Paper Pak Paper Product Security Paper

Change 51.45 Market cap 3,360.64 mn Div Yield (%) 4.16

Last 60 days High Low 19.50 48.90 47.70

15.28 38.61 38.00

2010 Div BR (%) (%) 2533.33B 50 -

% Change 4.43 5-Day High 1,212.48 5-Day Low 1,161.02 2011 Div BR (%) (%) -

Paid up Cap(mn)

Agriautos Ind Atlas Battery Atlas Honda Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki

PE

Open

144 5.70 74.00 101 5.81 188.48 626 9.14 122.95 890 2.22 598 19.62 21.68 450 3.42 4.76 200 6.92 4.45 1428 - 11.39 786 5.79 252.61 823 11.03 68.22

High

High Low 1,205.92 1,178.66 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 25.35 Low

Close Chg

Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin

PE

565 4.24 675 555 9.70 1199 12.10 785 11.36

Open 26.56 2.63 15.13 57.35 9.00

High 27.48 2.87 15.75 58.90 10.00

Low 26.90 2.65 15.20 57.76 9.25

Close Chg 27.15 2.65 15.52 58.08 10.00

0.59 0.02 0.39 0.73 1.00

Close 1,083.58 Listed cap 3,596.11 mn Payout (%) 30.91

Change 28.01 Market cap 10,573.17 mn Div Yield (%) 8.99

Last 60 days High Low

Volume 34705 15015 24600 56834 22245

28.45 3.39 16.05 62.20 10.07

24.00 2.00 12.25 44.00 8.00

2010 Div BR (%) (%) 30 40 7.5

20B -

2011 Div BR (%) (%) -

-

Company

Paid up Cap(mn)

Adam Sugar 58 AL-Noor Sugar 186 Chashma Sugar 287 Clover Pakistan 94 Colony Sugar Mills 990 Dewan Sugar 365 Faran Sugar 217 Habib Sugar 600 Habib-ADM Ltd 200 Hussein Sugar 121 J D W Sugar 490 Mehran Sugar 143 Mirpurkhas SugarXDXB 84 Mirza Sugar 141 Mithchells Fruit 50 National Foods 414 Nestle Pakistan 453 Noon Pakistan 48 Noon Sugar 165 Pangrio Sugar 109 Premier Sugar 38 Quice Food 107 Sanghar Sugar 119 Shahmurad Sugar 211 Shahtaj Sugar 120 Shakarganj Mills 695 Sindh Abadgar 104 Tandlianwala 1177 UniLever Pakistan 665

PE

Close 1,195.54 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change 13.50 Market cap 43,432.92 mn Div Yield (%) 4.79

Last 60 days High Low

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement

PE

Open

High

Low

1828 866 6.58 858 182 14 956 24.55 982 13.15 948 3574 3651 125.54 6933 15.15 502 3.75 1760 77 2319 581 1288 13126 3234 6.79 5261 1.31 541 3.77 2228 -

3.21 62.29 2.77 22.32 13.61 10.59 1.71 2.12 2.16 29.05 4.98 7.24 1.80 2.20 8.29 59.00 6.30 3.14 73.31 2.78 4.35 6.62

3.45 62.79 3.19 22.89 14.49 10.90 1.90 2.50 2.29 30.25 5.10 7.30 1.90 2.50 8.00 61.95 6.50 3.26 75.75 2.94 5.35 6.84

3.15 62.00 2.66 21.21 14.00 10.80 1.70 2.23 2.01 29.16 4.96 7.20 1.60 2.00 7.80 56.50 6.10 3.19 73.10 2.76 4.78 6.67

Close 1,006.96 Listed cap 54,792.74 mn Payout (%) 19.04

Change 23.16 Market cap 72,468.04 mn Div Yield (%) 2.36

Close Chg

Volume

Last 60 days High Low

3.19 62.50 2.98 21.94 14.00 10.80 1.71 2.50 2.12 30.13 5.00 7.20 1.76 2.00 7.81 59.97 6.49 3.23 75.57 2.81 5.13 6.80

19017 5224 2712 62217 1412 11460 18507 15483 254083 3149084 414574 2010 349512 2025 1052 1520 7250 276883 3054869 145766 19530 126450

3.98 65.99 4.24 24.16 15.50 12.75 2.49 3.49 3.10 32.10 5.55 8.20 2.25 5.00 9.19 63.00 8.70 3.79 79.98 3.30 8.89 8.58

-0.02 0.21 0.21 -0.38 0.39 0.21 0.00 0.38 -0.04 1.08 0.02 -0.04 -0.04 -0.20 -0.48 0.97 0.19 0.09 2.26 0.03 0.78 0.18

2.80 57.60 1.10 14.01 7.91 9.51 1.31 1.11 1.30 23.40 4.52 4.25 1.60 1.18 2.70 56.05 5.50 2.71 69.20 2.51 3.21 6.52

2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -

% Change 2.35 5-Day High 1,010.11 5-Day Low 983.81 2011 Div BR (%) (%) -

-

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,019.70 Turnover 251,649 P/E (x) 2.87 Company

Paid up Cap(mn)

PE

Open

High

High Low 1,042.31 1,020.62 Total cos Defaulter cos P/BV (x) ROE (%) 1.26 43.91 Low

Close Chg

Cherat Papersack 115 2.68 73.66 76.19 74.16 75.19 ECOPACK Ltd 230 2.47 2.59 2.46 2.50 Ghani Glass 1067 4.56 49.44 49.90 48.90 49.58 MACPAC Films 389 2.90 3.59 3.00 3.20 Merit Pack 47 61.00 23.99 25.00 24.40 24.40 Packages Ltd 844 66.28 128.07 130.99 129.00 129.25 Siemens Engineering XD 82 10.10 1202.54 1225.00 1195.00 1224.49 Tri-Pack Films 300 8.99 120.28 124.80 122.00 123.24

1.53 0.03 0.14 0.30 0.41 1.18 21.95 2.96

Close 1,033.38 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 71804 73912 13339 21339 201 56748 240 14066

Change 13.68 Market cap 39,012.17 mn Div Yield (%) 5.43

Last 60 days High Low 83.23 34.00 3.30 1.81 61.10 45.30 4.05 1.60 25.90 14.47 136.74 100.11 1381.00 1120.00 128.70 98.10

2010 Div BR (%) (%) 20 25 900 -

25B 10B -

% Change 1.34 5-Day High 1,038.51 5-Day Low 1,019.70 2011 Div BR (%) (%) -

-

Company

Paid up Cap(mn)

Ados Pak AL-Ghazi Tractor Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XB Pak Engineering

PE

Open

66 1.06 16.50 215 5.65 224.75 214 1.20 213 10.47 11.16 132 7.31 60.49 366 6.65 496.18 57 666.67 245.97

High

Low

Close Chg

Volume 999 43953 124029 6079 10315 244746 104

2011 Div BR (%) (%)

20B -

-

-

High

Low

Close Chg 0.58 0.42 -0.64 2.50 0.10 -0.01 -1.04 0.69 0.45 0.00 -0.46 1.69 -1.75 0.39 0.55 0.05 34.00 -0.01 0.23 -0.01 1.26 0.46 0.08 0.29 -3.80 0.53 0.49 -1.50 62.79

Close 1,707.64 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change 18.24 Market cap 229,160.84 mn Div Yield (%) 0.79

14.12 200.00 0.21 10.55 58.81 390.00 233.00

2010 Div BR (%) (%) 150 650 100

25B -

Company

Last 60 days High Low

13186 20.20 11.15 1300 53.02 39.25 30220 15.47 8.50 2653 78.22 42.61 3004 5.70 2.60 219524 5.59 1.25 5556 21.73 18.30 111629 36.50 28.50 4739 16.30 11.69 145 13.65 9.00 18840 92.50 65.25 10649 68.49 50.50 128 68.22 48.11 7550 7.18 4.20 511 81.86 61.50 5575 75.50 39.01 821 2550.00 1820.02 151 27.30 17.51 340 14.84 11.05 5015 6.99 4.25 282 53.81 32.50 80000 3.40 2.02 6527 15.00 13.00 8241 13.50 9.93 502 100.26 57.00 501 7.88 3.75 103 11.20 4.75 500 36.75 28.00 520 4610.00 3825.00

High Low 1,143.52 1,130.95 Total cos Defaulter cos P/BV (x) ROE (%) 0.31 10.64

Close 1,136.90 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

115 106 1174 231

3.99 3.55 2.51

35.25 7.24 14.00 21.13

37.01 7.90 14.25 21.25

37.01 6.32 14.00 20.55

37.01 1.76 7.35 0.11 14.08 0.08 21.00 -0.13

474 20002 50902 24967

AL-Abid Silk Hussain Industries Pak Elektron Tariq Glass Ind

2010 Div BR (%) (%)

2011 Div BR (%) (%)

25 50 15 25 25 25B 40 7010B 12.5R 35 20B 15 20B 10 12 450 12 10 15 10 10 178 -

-

-

Change 6.84 Market cap 5,168.40 mn Div Yield (%) 2.18

% Change 0.61 5-Day High 1,136.90 5-Day Low 1,121.80

Last 60 days High Low

2010 Div BR (%) (%)

37.01 11.49 15.09 21.40

-20B 20R - 10B 17.5 -

23.00 6.10 12.90 15.90

2011 Div BR (%) (%) -

-

PERSONAL GOODS Performance of SR Personal Goods Index Open 1,002.30 Turnover 20,781,410 P/E (x) 7.07 Company

Paid up Cap(mn)

(Colony) Thal Ali Asghar Textile Amtex Limited Artistic Denim Azgard Nine Bannu Woolen XD Bata (Pak) Blessed Tex Mills Brothers Textile Chenab Limited Colgate Palm Crescent Fibres Ltd Crescent Jute D S Ind Ltd Dawood Lawrencepur Ellcot Spinning Faisal Spinning Gadoon Textile XD Gul Ahmed Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Indus Dyeing J K Spinning Janana D Mal Jubilee Spinning Khalid Siraj Kohinoor Ind Kohinoor Textile Liberty Mills Masood Textile Mian Textile Moonlite (PAK) Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Prosperity Quetta Textile Ravi Textile Rupali Poly Salman Noman Sana Ind Sapphire Textile Sargodha Spinning Service Ind Shadab Textile Shadman Cot Shahpur Textile Shahtaj Textile Suraj Cotton Thal Limited Treet Corp ZahidJee Textile Zephyr Textile Ltd Zil Limited

56 222 2594 840 4493 76 76 64 98 1150 316 124 238 600 514 110 100 234 635 222 716 3105 99 180 181 184 43 325 107 303 1455 226 600 221 22 187 1596 3516 560 185 130 250 341 42 55 201 312 120 30 176 140 97 180 307 418 341 594 53

High Low 1,017.18 999.76 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64

PE

Open

High

Low

Close Chg

23.75 9.34 6.45 0.47 5.55 0.72 35.81 0.67 49.60 0.63 0.81 0.75 4.37 0.89 0.76 3.25 0.54 3.97 2.88 0.97 0.24 3.77 3.46 2.14 0.82 1.93 5.62 3.01 1.10 0.65 4.61 1.91 3.42 0.88 0.51 8.06 0.37 1.47 0.61 0.81 5.44 9.49 0.52 5.00 3.64

0.89 0.99 4.05 23.04 9.34 12.90 675.00 46.15 0.42 3.02 934.57 14.11 0.88 1.72 41.63 20.05 32.55 67.50 29.00 7.45 3.91 40.07 5.36 3.60 311.90 6.24 15.90 2.49 0.76 1.66 5.00 62.96 20.00 0.60 6.40 16.17 22.10 62.41 8.99 14.71 37.98 1.45 35.26 5.32 46.00 106.00 2.60 229.26 13.40 7.05 0.34 19.16 35.27 125.58 57.97 3.49 3.92 53.11

1.01 0.95 4.23 24.18 9.67 13.50 687.00 48.00 1.31 3.17 960.00 14.60 1.00 1.84 43.00 20.80 32.85 68.25 30.45 7.30 4.05 41.79 6.36 3.65 296.75 7.00 16.90 3.49 1.25 1.78 5.54 66.05 20.25 0.60 7.40 16.70 23.20 65.53 9.00 14.65 39.87 1.50 37.00 5.90 46.49 104.00 2.90 237.00 13.20 8.05 0.50 19.60 36.00 127.78 60.29 4.00 3.80 54.50

1.00 0.95 4.10 22.35 9.20 13.50 670.00 48.00 0.38 3.00 905.10 14.50 0.32 1.71 41.50 19.35 32.50 68.05 27.61 7.29 3.76 40.26 5.00 3.40 296.31 5.76 14.90 3.49 0.65 1.63 4.96 65.80 20.25 0.60 6.80 16.00 22.30 62.80 8.90 14.15 39.86 1.40 36.00 4.50 44.03 104.00 2.65 230.00 13.20 8.05 0.30 19.50 35.25 125.01 58.70 3.90 3.80 51.10

1.00 0.11 0.95 -0.04 4.11 0.06 23.21 0.17 9.33 -0.01 13.50 0.60 670.00 -5.00 48.00 1.85 0.43 0.01 3.08 0.06 954.03 19.46 14.50 0.39 0.85 -0.03 1.76 0.04 42.16 0.53 20.80 0.75 32.81 0.26 68.25 0.75 30.44 1.44 7.30 -0.15 4.02 0.11 41.37 1.30 6.36 1.00 3.65 0.05 296.31-15.59 6.35 0.11 14.90 -1.00 3.49 1.00 0.90 0.14 1.68 0.02 5.28 0.28 65.95 2.99 20.25 0.25 0.60 0.00 7.39 0.99 16.00 -0.17 23.20 1.10 65.53 3.12 8.90 -0.09 14.45 -0.26 39.87 1.89 1.40 -0.05 36.68 1.42 4.50 -0.82 45.06 -0.94 104.00 -2.00 2.65 0.05 235.33 6.07 13.20 -0.20 8.05 1.00 0.44 0.10 19.56 0.40 36.00 0.73 127.24 1.66 59.61 1.64 3.90 0.41 3.80 -0.12 54.40 1.29

% Change 0.00 5-Day High 1,547.84 5-Day Low 1,536.55 2011 Div BR (%) (%) -

-a

2.79

Total Equity (Rs in mn)

MA (100-day)

2.26

Revenue (Rs in mn)

MA (200-day)

2.44

Interest Expense

1st Support

3.05

Loss after Taxation

2nd Support

2.70

EPS 10 (Rs)

1st Resistance

3.65

Book value / share (Rs)

2nd Resistance

3.90

PE 11 E (x)

Pivot

3.30

PBV (x)

207,629.50 (525.11) 70,508.12 6,823.64 (14,641.22) (0.74) (0.02) (137.87)

KESC closed up 0.42 at 3.38. Volume was 2,399 per cent above average (trending) and Bollinger Bands were 126 per cent wider than normal. The company's loss after taxation stood at Rs1.782 billion which translates into a Loss Per Share of Rs0.09 for the 1st quarter of current fiscal year (1QFY11). KESC is currently 38.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into KESC (bullish). Trend forecasting oscillators are currently bullish on KESC. Momentum oscillator is currently indicating that KESC is currently in an overbought condition.

AMZ Ventures Limited

% Change 1.08 5-Day High 1,710.72 5-Day Low 1,689.40

Close 1,010.37 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change 8.07 Market cap 136,075.25 mn Div Yield (%) 2.36

Last 60 days High Low

2000 2.00 5000 1.50 170602 16.90 443 24.59 10711759 12.32 3700 14.50 554 747.48 3500 51.90 734 1.49 184880 3.90 2115 960.00 510 14.99 11984 1.38 95654 2.37 34022 47.00 152 22.20 501 36.75 601 71.40 3699 30.45 5000 10.30 20387 4.88 41010 42.75 13094 7.29 5501 4.50 345 350.15 8871 9.50 1014 20.50 6200 5.50 113555 1.25 17116 2.00 91201 6.06 300 66.05 145 21.55 1000 0.79 4440 11.99 2999 17.50 3325290 25.14 5489611 65.80 2000 10.45 4050 19.25 200 47.00 167599 2.05 3080 38.10 301 6.00 149 48.95 13319 115.76 200 3.43 4386 276.50 5000 15.09 1000 15.00 409 1.01 1300 21.90 7138 38.52 46939 132.00 117586 63.30 7500 4.87 17000 4.90 2404 58.99

2010 Div BR (%) (%)

0.52 0.61 4.00 30 19.10 20 9.20 9.50 20 436.00 45.25 50 0.13 3.00 680.00 8.41 10 0.16 1.44 36.10 5 17.21 35 29.00 50 38.30 70 19.99 12.5 6.30 10 20B 3.35 10 34.05 20 2.02 2.60 10 209.03 50 4.05 20 5B 13.25 2.47 0.28 1.25 4.51 54.55 30 18.01 15 100R 0.14 4.50 12.80 20SD 16.80 15 46.62 25 45R 5.16 12.51 30 25.80 20 1.29 31.25 40 2.01 5B 27.50 60 89.80 50 1.40 5 169.00 7.56 10 7.00 0.18 15.61 45 29.00 50 86.50 80 20B 37.25 2.00 2.35 36.00 35 -

% Change 0.81 5-Day High 1,011.79 5-Day Low 1,002.30 2011 Div BR (%) (%) -

-

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

49.08

Total Assets (Rs in mn)

466.52

MA (10-day)

0.68

Total Equity (Rs in mn)

222.19

MA (100-day)

0.65

Revenue (Rs in mn)

MA (200-day)

0.80

Interest Expense

1st Support

0.59

Loss after Taxation

2nd Support

0.52

EPS 09 (Rs)

1st Resistance

0.72

Book value / share (Rs)

9.87

2nd Resistance

0.78

PE 10 E (x)

1.50

Pivot

0.65

PBV (x)

0.07

18.93 29.21 (11.47) (0.51)

AMZV closed up 0.01 at 0.66. Volume was 114 per cent above average and Bollinger Bands were 7 per cent narrower than normal. The company's profit after taxation stood at Rs3.828 million which translates into an Earning Per Share of Rs0.11 for the 1st quarter of current fiscal year (1QFY11). AMZV is currently 17.5 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 moderate flows of volume into AMZV (mildly bullish). Trend forecasting oscillators are currently bullish on AMZV.

Pakistan Reinsurance Co Ltd

Open 975.33 Turnover 133,540 P/E (x) 7.77 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak

Paid up Cap(mn) 979 250 1707 165 200 100 96 306

PE

Open

9.55 107.04 6.61 87.00 15.63 84.99 8.22 29.03 6.65 7.52 7.67 32.81 11.24 141.01 5.43 60.05

High

High Low 1,003.59 971.44 Total cos Defaulter cos P/BV (x) ROE (%) 1.73 22.31 Low

Close Chg

109.85 108.00 109.00 88.88 87.00 87.50 88.00 84.50 86.91 30.25 28.18 29.68 8.24 7.16 8.24 34.40 32.25 34.35 142.50 140.50 141.24 60.50 60.00 60.39

1.96 0.50 1.92 0.65 0.72 1.54 0.23 0.34

Close 994.18 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 9298 3426 58214 32865 1604 24205 131 3795

88.50 82.20 66.50 23.50 7.00 27.50 115.90 59.30

57.60

Total Assets (Rs in mn)

MA (10-day)

16.13

Total Equity (Rs in mn)

6,785.66

MA (100-day)

15.13

Revenue (Rs in mn)

2,170.95

MA (200-day)

18.01

Interest Expense

12,372.62

1st Support

16.05

Profit after Taxation

2nd Support

15.49

EPS 09 (Rs)

0.900

1st Resistance

16.91

Book value / share (Rs)

22.62

2nd Resistance

17.21

PE 10 E (x)

42.83

Pivot

16.35

PBV (x)

0.00 269.91

0.73

PAKRI closed up 0.78 at 16.56. Volume was 175 per cent above average (trending) and Bollinger Bands were 72 per cent narrower than normal. The company's profit after taxation stood at Rs88.468 million which translates into an Earning Per Share of Rs0.29 for the nine months of current calendar year (9MCY10). PAKRI is currently 8.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of PAKRI at a relatively equal pace. Trend forecasting oscillators are currently bearish on PAKRI.

Dewan Sugar Mills Limited

Fundamental Highlights As on Sep 30, 2009

Technical Analysis RSI (14-day)

59.22

Total Assets (Rs in mn)

MA (10-day)

3.65

Total Equity (Rs in mn)

MA (100-day)

2.14

Revenue (Rs in mn)

MA (200-day)

2.17

Interest Expense

1st Support

3.60

Loss after Taxation

2nd Support

3.36

EPS 09 (Rs)

1st Resistance

4.09

Book value / share (Rs)

2nd Resistance

4.34

PE 10 E (x)

Pivot

3.85

PBV (x)

6,337.59 (96.44) 2,439.05 297.87 (233.58) (6.397) (2.64) (1.43)

DWSM closed down -0.01 at 3.78. Volume was 279 per cent above average (trending) and Bollinger Bands were 22 per cent wider than normal. The company's loss after taxation stood at Rs205.486 million which translates into a Loss Per Share of Rs5.63 for the nine months of current calendar year (9MFY10). DWSM is currently 60.5 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 DWSM (bullish). Trend forecasting oscillators are currently bullish on DWSM.

BOOK CLOSURES Company

From

To

BOC Pakistan Buxly Paints # TRG Pakistan Shadman Cotton Mills # Kohinoor Mills # Mybank Ltd. # Summit Bank # Ellcot Spng Mills # Prosperity Weaving Mills # Mehran Sugar Mills Dawood Lawrencepur # Habib Sugar Mills Lakson Tobacco # Nagina Cotton Mills # Sindh Abadgar's Sugar Mills

11-Jan 11-Jan 12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 19-Jan 19-Jan

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 28-Jan

D/B/R 25.25(B) 10

Spot AGM/Date 07-Jan -

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 28-Jan

# Extraordinary General Meeting

Change 18.85 Market cap 33,466.08 mn Div Yield (%) 5.73

Last 60 days High Low 112.50 113.00 89.98 30.25 9.00 35.15 146.40 64.50

Fundamental Highlights As on Dec 30, 2009

Technical Analysis RSI (14-day)

INDICATIONS

Performance of SR Pharma and Bio Tech Index

Change 0.04 Market cap 33,415.70 mn Div Yield (%) 15.78

Last 60 days High Low 20.85 238.99 2.40 14.80 83.49 516.00 324.80

90 100 20 150 -

PHARMA AND BIO TECH

Close 1,536.59 Listed cap 1,336.62 mn Payout (%) 131.49

16.41 16.40 16.40 -0.10 235.98 226.01 235.98 11.23 1.88 1.20 1.46 0.26 11.45 11.30 11.31 0.15 61.98 58.81 61.06 0.57 516.00 496.50 508.65 12.47 255.00 240.00 240.00 -5.97

2010 Div BR (%) (%)

MA (10-day)

HOUSEHOLD GOODS

INDUSTRIAL ENGINEERING High Low 1,545.77 1,531.05 Total cos Defaulter cos P/BV (x) ROE (%) 3.17 38.02

Open

Open 1,130.06 Turnover 96,360 P/E (x) 2.88

Performance of SR Industrial Engineering Index Open 1,536.55 Turnover 185,520 P/E (x) 8.33

65.75 136.10 94.00 1.20 21.00 4.03 4.00 9.65 217.10 66.75

% Change 1.14 5-Day High 1,195.54 5-Day Low 1,182.04

Total Assets (Rs in mn)

Performance of SR Household Goods Index

Performance of SR Construction and Materials Index High Low 1,018.84 977.43 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 7.10

9900 76.99 25780 195.00 3910 128.90 648818 2.89 272001 25.24 10902 5.67 142 5.75 86928 13.40 7774 282.45 17613 77.90

High Low 1,715.80 1,669.97 Total cos Defaulter cos P/BV (x) ROE (%) 11.73 30.30

1.23 19.20 20.20 19.70 19.78 3.76 51.13 51.69 51.00 51.55 0.98 12.74 12.80 12.10 12.10 12.41 73.43 75.95 75.50 75.93 3.40 3.87 3.14 3.50 3.79 4.10 3.61 3.78 4.05 21.19 20.85 20.14 20.15 7.52 32.77 33.50 32.80 33.46 11.44 11.90 12.37 12.07 12.35 - 10.99 11.00 10.00 10.99 3.14 89.00 91.78 88.00 88.54 3.51 57.80 59.75 56.50 59.49 4.02 50.00 51.79 48.11 48.25 0.65 6.00 6.45 6.00 6.39 9.54 77.97 81.86 78.50 78.52 24.65 66.01 67.00 63.30 66.06 26.97 2421.00 2464.00 2420.00 2455.00 3.54 24.76 25.80 24.75 24.75 - 11.61 12.28 11.72 11.84 0.92 6.28 6.37 6.11 6.27 8.42 44.64 46.80 45.00 45.90 2.12 2.60 2.20 2.58 1.28 14.32 14.70 14.00 14.40 6.70 9.96 10.60 10.22 10.25 - 76.15 72.35 72.35 72.35 5.46 6.35 5.99 5.99 5.28 10.50 11.20 10.99 10.99 309.09 35.50 34.00 34.00 34.00 20.44 4315.21 4378.00 4252.56 4378.00

CONSTRUCTION AND MATERIALS Open 983.81 Turnover 7,940,720 P/E (x) 8.07

-

78.11

FOOD PRODUCERS

-

% Change 2.65 5-Day High 1,094.17 5-Day Low 1,055.58

76.00 73.10 75.20 1.20 195.00 189.99 194.68 6.20 126.10 123.70 126.07 3.12 2.47 2.26 2.40 0.18 22.76 22.03 22.76 1.08 5.10 4.85 4.92 0.16 4.50 4.40 4.43 -0.02 11.70 11.21 11.30 -0.09 254.50 251.00 253.50 0.89 71.00 68.50 69.26 1.04

Open 1,689.40 Turnover 538,898 P/E (x) 38.70

Performance of SR Industrial Metals and Mining Index High Low 1,097.94 1,067.25 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 33.10

-

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

Performance of SR Food Producers Index

INDUSTRIAL METALS AND MINING Open 1,055.58 Turnover 153,399 P/E (x) 3.44

-

Performance of SR Automobile and Parts Index

Performance of SR Chemicals Index Open 1,372.62 Turnover 67,599,532 P/E (x) 8.64

2011 Div BR (%) (%)

AUTOMOBILE AND PARTS Open 1,182.04 Turnover 1,083,869 P/E (x) 4.27

Karachi Electric Supply Corp Ltd

% Change 1.06 5-Day High 754.98 5-Day Low 729.62

2010 Div BR (%) (%) 40 15

Alert ! Unusual Movements

2010 Div BR (%) (%) 20 30

20B -

% Change 1.93 5-Day High 1,003.31 5-Day Low 975.33 2011 Div BR (%) (%) 15 -

-

OTHER SECTORS Symbols Johnson & Phillips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Grays of Cambridge Khyber Tobacco Lakson Tobacco Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) Pak Services AKD Capital XD Pace (Pak) Ltd. Netsol Technologies

Open 8.94 53.1 3.45 90 1.36 49.97 28.31 295.46 110.5 29.9 23.79 53.2 2.29 168.25 47.58 2.67 19.01

High 9.5 55.74 3.63 94 1.75 50.49 29.72 303.5 116.02 30 24.5 55.85 2.48 162 48.94 2.78 19.71

Low Close 7.96 53.05 3.42 91.9 1.74 50 29.72 294 110.01 29.9 23.4 50.55 2.25 160 45.6 2.7 19.1

9.3 53.48 3.48 92.7 1.74 50 29.72 294 116.02 29.9 23.8 51.43 2.43 162 48.46 2.76 19.5

Change 0.36 0.38 0.03 2.7 0.38 0.03 1.41 -1.46 5.52 0 0.01 -1.77 0.14 -6.25 0.88 0.09 0.49

Vol 2001 126 1788255 42861 1000 513 500 637 11812 7008 9713 600 335184 375 898 280668 1006594


7

Wednesday, January 5, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,136.04 Turnover 5,104,278 P/E (x) 6.18 Paid up Cap(mn)

Company

High Low 1,159.20 1,137.03 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84

PE

Open

High

Low

Close Chg

Pakistan Telecomm Co A 37740 13.00 Telecard 3000 0.65 WorldCall Tele 8606 Wateen Telecom Ltd 6175 -

19.25 2.17 2.76 3.52

19.60 2.28 2.87 3.79

19.30 2.17 2.70 3.56

19.50 0.25 2.20 0.03 2.78 0.02 3.59 0.07

Close 1,150.11 Listed cap 50,077.79 mn Payout (%) 62.56

Volume 4350972 232648 520658 117153

Change 14.07 Market cap 79,481.55 mn Div Yield (%) 10.13

% Change 1.24 5-Day High 1,151.74 5-Day Low 1,136.04

Last 60 days High Low

2010 Div BR (%) (%)

20.12 2.69 3.45 4.25

17.5 1 -

18.21 1.97 2.32 3.35

2011 Div BR (%) (%)

-

-

-

Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance Shaheen Insurance Silver Star Insurance United Insurance XB Universal Insurance

369 6.07 279 7.77 457 6.98 1250 400 3.57 718 17.53 791 15.95 3000 42.46 350 303 6.29 200 253 4.38 400 2.43 210 -

38.18 67.00 10.67 42.47 14.86 92.73 58.00 15.78 7.84 11.49 12.61 7.05 6.75 3.38

Paid up Cap(mn)

High Low 1,344.20 1,281.97 Total cos Defaulter cos P/BV (x) ROE (%) 1.34 9.35

PE

Open

High

Low

Genertech 198 Hub Power 11572 6.96 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 11.67 Kohinoor Power 126 2.91 Kot Addu Power 8803 5.13 Nishat Chunian Power Ltd 3673 3.65 Nishat Power Ltd 3541 27.29 Sitara Energy Ltd 191 3.54 Southern Electric 1367 Tri-star Power XD 150 -

0.76 36.75 1.63 2.96 21.00 4.62 40.46 15.63 16.07 18.50 2.16 0.99

0.90 38.25 1.86 3.55 21.00 4.78 42.48 16.63 17.01 19.00 2.35 1.14

0.82 36.95 1.70 2.95 20.90 4.30 40.50 15.80 16.05 18.50 2.20 0.98

Close 1,331.36 Listed cap 95,369.29 mn Payout (%) 104.13

Change 54.22 Market cap 109,161.83 mn Div Yield (%) 7.25

Close Chg

Volume

Last 60 days High Low

0.87 37.98 1.71 3.38 21.00 4.78 42.26 16.63 16.92 18.99 2.26 0.99

32802 3060572 457230 35626973 32004 1062 1746722 2742939 5279752 6085 550893 11101

1.45 38.25 2.25 3.55 25.25 5.69 42.48 16.63 17.01 23.00 2.80 1.75

0.11 1.23 0.08 0.42 0.00 0.16 1.80 1.00 0.85 0.49 0.10 0.00

0.60 32.75 1.20 1.98 17.95 4.01 38.35 10.85 11.56 17.98 2.05 0.65

% Change 4.25 5-Day High 1,331.36 5-Day Low 1,274.13

2010 Div BR (%) (%) 50 15 50 20 -

Open 896.07 Turnover 161,435 P/E (x) 8.87

2011 Div BR (%) (%)

7.8R -

-

-

Company

Paid up Cap(mn)

PE

500

6.02

American Life

Open

Company

High Low 1,559.73 1,483.13 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 11.41

Close 1,555.84 Listed cap 12,202.80 mn Payout (%) 66.79

Change 69.62 Market cap 33,272.30 mn Div Yield (%) 7.04

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

8.11 3.29

25.99 20.87

27.28 21.90

25.71 20.95

27.24 1.25 21.83 0.96

250583 427593

34.75 30.23

25.71 19.95

% Change 4.68 5-Day High 1,555.84 5-Day Low 1,473.03

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Performance of SR Banks Index Open 1,158.84 Turnover 23,612,294 P/E (x) 8.34 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 6.88 67.83 Askari Bank 6427 8.25 16.90 Bank Alfalah 13492 14.41 10.77 Bank AL-Habib 7322 8.08 35.93 Bank Of Khyber 5004 5.56 4.10 Bank Of Punjab 5288 9.42 BankIslami Pak 5280 915.00 3.49 Faysal Bank 7309 5.00 15.07 Habib Bank Ltd 10019 7.61 119.49 Habib Metropolitan Bank 8732 8.61 27.95 JS Bank Ltd 8150 2.51 KASB Bank Ltd 9509 2.40 MCB Bank Ltd 7602 10.11 223.32 Meezan Bank 6983 9.37 16.70 Mybank Ltd 5304 2.70 National Bank 13455 6.68 74.08 Network Mic Bank 300 1.60 NIB Bank 40437 2.88 Samba Bank 14335 1.87 Silkbank Ltd 26716 2.58 Soneri Bank 6023 8.00 Stand Chart Bank 38716 13.23 8.48 Summit Bank Ltd 5000 3.55 United Bank Ltd 12242 7.83 65.59

High

High Low Close 1,197.48 1,161.68 1,187.68 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.16 13.94 40.49 Low

Close Chg

71.22 68.45 70.77 17.42 17.00 17.32 11.38 10.84 11.24 37.72 36.10 37.50 4.25 4.14 4.17 9.69 9.35 9.65 3.69 3.47 3.66 15.84 15.20 15.51 122.30 119.50 121.87 28.95 28.00 28.14 2.58 2.50 2.52 2.60 2.50 2.59 229.50 224.01 227.97 17.70 16.85 17.70 2.94 2.70 2.87 76.98 74.35 76.51 1.60 1.60 1.60 2.97 2.84 2.95 2.00 1.86 1.98 2.66 2.57 2.64 8.30 8.01 8.01 8.60 8.25 8.60 3.78 3.55 3.65 67.10 65.55 66.61

Volume

2.94 0.42 0.47 1.57 0.07 0.23 0.17 0.44 2.38 0.19 0.01 0.19 4.65 1.00 0.17 2.43 0.00 0.07 0.11 0.06 0.01 0.12 0.10 1.02

Change 28.84 Market cap 715,259.81 mn Div Yield (%) 4.85

Last 60 days High Low

585236 71.24 408335 18.10 3454332 11.50 756635 37.72 11097 4.70 826201 10.59 467672 3.88 465291 17.10 627959 125.29 59351 29.28 71561 3.00 20773 2.90 1601540 230.15 1179111 17.70 1861 3.10 7208508 77.97 101 2.40 810036 3.18 114364 2.65 1659292 3.05 25764 8.48 19502 9.04 123128 4.23 3237772 70.65

50.00 14.23 8.30 30.86 2.57 8.00 2.77 13.10 93.00 18.02 2.25 2.16 189.10 14.05 1.90 62.58 0.62 2.50 1.51 2.50 5.05 6.15 2.43 51.51

% Change 2.49 5-Day High 1,191.64 5-Day Low 1,158.84

2010 Div BR (%) (%)

2011 Div BR (%) (%)

20 - 20B - 66R 55 -63.46R 10 -

-

-

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 757.87 Turnover 2,729,102 P/E (x) 12.83 Paid up Cap(mn)

Company Adamjee Insurance

PE

1237 24.91

Open 83.41

High 86.10

High Low 783.25 761.29 Total cos Defaulter cos P/BV (x) ROE (%) 0.67 5.20 Low 83.82

Close Chg 85.94 2.53

2991 2253 9703 31315 43803 1875 300 1606316 195078 2625 602 19756 385 771

39.90 70.75 12.00 48.63 15.39 99.88 60.90 17.20 8.84 12.00 14.53 8.17 7.40 3.75

28.81 47.51 9.42 34.76 10.04 71.02 52.25 12.86 1.85 8.00 11.65 6.01 4.55 2.21

10 10 -

10B 20B -

-

UP TO 100 VOLUME

-

18.00

Close 779.32 Listed cap 11,111.34 mn Payout (%) 79.54

Volume 811307

Change 21.45 Market cap 48,339.25 mn Div Yield (%) 6.20

Last 60 days High Low 91.75

63.05

% Change 2.83 5-Day High 784.13 5-Day Low 757.87

2010 Div BR (%) (%) 10

2011 Div BR (%) (%)

-

-

-

High 18.00

High Low 906.32 872.79 Total cos Defaulter cos P/BV (x) ROE (%) 3.77 3.85 Low 18.00

Close Chg

Close 874.01 Listed cap 2,290.72 mn Payout (%) 355.53

Change -22.06 Market cap 10,047.58 mn Div Yield (%) 3.63

Symbols SAIF AABS SAZEW MFTM MWMP POAF ICCT GLPL THCCL HINO FUDLM HWQS AGIC RMPL KOHS AZAMT BIFO CSM KASBM CML TOWL BFMOD SCL SHEZ NBF AGSML STCL BWCL SMCPL EMCO UPFL BAFS FECS GVGL ASFL FFLM MODAM SCLL GUSM SJTM PKGI CWSM DSML SSML WYETH PHDL ESBL SIBL DMTM FZCM KOSM MQTM PRET RCML TATM SMTM ISTM KML MEHT BCL EXIDE PTEC LPGL PGCL HADC DIIL

Last 60 days High Low

Volume

19.85

% Change -2.46 5-Day High 913.19 5-Day Low 874.01

2010 Div BR (%) (%)

2011 Div BR (%) (%)

18.00 0.00

1000

16.03

-

-

-

-

East West Life EFU Life Assurance

455 850 41.99

2.90 72.87

3.18 74.80

2.75 73.90

2.76 -0.14 73.90 1.03

5999 18555

4.62 86.95

2.08 57.15

-

20R -

-

-

627 29.33

45.88

46.00

43.60

43.70 -2.18

135881

49.31

39.95

-

-

-

-

FINANCIAL SERVICES Performance of SR Financial Services Index Open 394.04 Turnover 6,040,875 P/E (x) 11.07

Performance of SR Gas Water and Multiutilities Index

Sui North Gas Sui South Gas

0.01 1.35 0.49 1.28 0.14 1.76 1.16 0.78 1.00 0.14 0.40 0.00 0.65 0.11

New Jub Life Insurance

GAS WATER AND MULTIUTILITIES Open 1,486.21 Turnover 678,176 P/E (x) 9.49

38.19 68.35 11.16 43.75 15.00 94.49 59.16 16.56 8.84 11.63 13.01 7.05 7.40 3.49

Performance of SR Life Insurance Index

Performance of SR Electricity Index

Company

38.15 68.00 11.09 42.60 14.90 93.00 59.16 15.79 8.00 11.50 12.05 6.99 6.50 2.85

LIFE INSURANCE

ELECTRICITY Open 1,277.14 Turnover 49,548,135 P/E (x) 14.37

39.77 70.30 11.30 43.87 15.39 94.99 59.16 16.65 8.84 11.75 13.35 7.05 7.40 3.49

Paid up Cap(mn)

Company

AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities First National Equity Grays Leasing IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec

High Low 411.08 394.36 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 0.91

PE

Open

High

Low

225 1.50 360 3.47 450 13.13 3750 4.62 150 1.34 250 575 215 2121 18.44 600 702.00 2849 3166 626 0.64 7633 508 500 7.42 1000 27.88 1000 821 4.85 775 -

0.65 17.21 25.00 23.98 1.85 1.75 8.80 1.60 2.91 6.95 0.70 3.25 1.80 10.42 3.76 27.00 6.38 4.37 6.50 2.05

0.71 17.79 25.80 25.17 1.95 1.84 8.75 2.50 2.95 7.07 0.85 3.48 1.94 11.19 3.98 27.65 7.16 4.65 6.60 2.23

0.58 17.01 25.00 24.05 1.50 1.72 8.02 1.15 2.95 6.86 0.70 3.30 1.80 10.45 3.75 27.49 6.43 4.41 6.53 2.00

Close Chg 0.66 17.61 25.73 25.12 1.50 1.78 8.75 2.44 2.95 7.02 0.70 3.33 1.80 11.05 3.89 27.62 6.69 4.52 6.60 2.08

0.01 0.40 0.73 1.14 -0.35 0.03 -0.05 0.84 0.04 0.07 0.00 0.08 0.00 0.63 0.13 0.62 0.31 0.15 0.10 0.03

Close 405.88 Listed cap 30,336.44 mn Payout (%) 99.56

Volume 148363 20883 59620 1725818 724 4836 210 4010 10005 7203 18969 16955 16752 4165266 178480 3597 1134728 22202 8570 219495

Change 11.84 Market cap 18,978.05 mn Div Yield (%) 3.43

% Change 3.00 5-Day High 409.82 5-Day Low 394.04

Last 60 days High Low

2010 Div BR (%) (%)

0.95 19.98 28.95 27.02 2.14 2.69 10.92 2.90 3.90 8.88 0.97 4.80 2.40 14.05 5.38 34.68 7.59 4.95 7.29 2.70

30 11.5 10 -

0.45 13.00 24.40 20.90 1.05 1.51 6.84 0.18 1.50 6.16 0.45 3.10 1.05 8.80 1.96 24.25 5.10 3.50 4.70 1.41

2011 Div BR (%) (%)

20B 20B 10B -

-

-

Paid up Cap(mn)

Company

AL-Meezan Mutual F. Atlas Fund of Funds B R R Guardian Mod. Constellation Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba Imrooz Modaraba JS Growth Fund JS Value Fund Meezan Balanced Fund Nat Bank Modaraba Pak Modaraba Paramount Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba

1375 525 780 65 113 524 581 760 397 1008 202 30 3180 1186 1200 250 125 59 1000 2835 2841 872 340 454

PE

Open

High

Low

6.84 1.92 4.14 2.59 3.50 10.31 0.66 2.25 2.66 6.03 17.27 10.31 70.00 17.68 7.41 6.02 5.80 6.66 1.97 8.44 7.36 2.36 4.58

8.10 4.51 1.78 1.11 2.76 1.37 1.76 3.06 8.00 6.75 2.02 54.00 5.42 4.56 7.40 6.50 0.96 9.00 6.35 12.81 6.04 1.00 1.59 9.20

8.40 4.80 1.88 1.88 2.80 1.65 2.10 3.23 8.00 7.00 2.96 56.51 5.69 4.98 7.80 6.50 1.20 9.10 6.89 13.22 6.50 1.04 1.42 9.35

8.21 4.54 1.70 1.01 2.80 1.62 2.00 3.13 7.99 6.95 1.50 55.50 5.40 4.62 7.40 6.50 1.16 8.50 6.37 12.70 6.10 1.00 1.40 9.21

Close 1,343.21 Listed cap 29,771.58 mn Payout (%) 104.74

Change 20.24 Market cap 18,129.59 mn Div Yield (%) 7.98

% Change 1.53 5-Day High 1,350.17 5-Day Low 1,320.79

Close Chg

Volume

Last 60 days High Low

2010 Div BR (%) (%)

8.21 4.75 1.82 1.14 2.80 1.65 2.08 3.15 7.99 6.99 1.90 56.50 5.60 4.95 7.71 6.50 1.16 8.53 6.78 13.17 6.48 1.04 1.40 9.35

105486 170595 16164 2107 2500 49674 290708 45303 1500 20101 31645 1250 2037693 2195520 9000 1800 581 2210 102852 378748 156938 10599 400 546

8.59 4.80 2.79 2.34 3.09 2.37 2.28 3.80 8.49 7.00 3.69 67.00 5.69 4.98 8.25 7.74 2.00 9.45 7.18 13.40 6.74 1.19 2.54 10.00

18.5 2.2 0 5 17 11 21 3 76 5 10 15.5 10 3 18 10 20 10 3 1 17

0.11 0.24 0.04 0.03 0.04 0.28 0.32 0.09 -0.01 0.24 -0.12 2.50 0.18 0.39 0.31 0.00 0.20 -0.47 0.43 0.36 0.44 0.04 -0.19 0.15

5.85 2.70 0.90 0.90 1.73 0.90 1.30 2.56 5.11 5.80 1.06 42.90 2.65 2.31 5.15 4.50 0.30 7.57 4.56 7.90 3.50 0.81 0.50 7.81

2011 Div BR (%) (%)

-

-

High 4.44 94.80 20.64 1.02 1.85 8.78 1.78 62.70 18.25 130.00 6.15 21.51 11.00 2126.99 4.95 2.60 56.11 0.64 1.31 2.60 6.03 3.21 92.11 120.50 3.75 7.00 8.90 21.10 7.15 3.00 1101.00 58.95 49.39 28.30 5.00 1.80 1.55 2.89 7.80 1.50 7.30 1.27 2.50 2.30 1100.00 35.66 2.36 3.99 5.79 73.48 0.90 8.43 30.00 36.90 35.49 6.49 7.49 2.92 60.00 43.76 190.00 2.20 16.87 22.00 0.78 14.89

Low

Close

4.44 94.80 20.64 1.02 1.60 8.78 1.78 62.70 18.02 128.00 6.13 20.00 10.62 2013.00 3.31 2.20 56.11 0.58 1.31 2.17 6.03 3.21 92.11 116.01 3.12 5.60 8.70 21.10 7.15 2.99 1101.00 58.90 49.39 26.50 5.00 1.74 1.49 2.89 6.07 0.49 7.11 1.27 2.50 1.85 1010.00 32.28 2.36 3.99 5.79 73.48 0.90 8.43 29.74 36.85 35.49 6.49 7.49 2.92 59.24 43.76 189.98 2.20 16.87 22.00 0.78 14.88

4.44 94.80 20.64 1.02 1.82 8.78 1.78 62.70 18.02 128.13 6.14 20.13 10.65 2126.99 4.13 2.23 56.11 0.61 1.31 2.50 6.03 3.21 92.11 116.01 3.75 5.60 8.70 21.10 7.15 2.99 1101.00 58.95 49.39 28.00 5.00 1.74 1.49 2.89 6.82 0.50 7.30 1.27 2.50 2.08 1100.00 35.66 2.36 3.99 5.79 73.48 0.90 8.43 29.74 36.85 35.49 6.49 7.49 2.92 59.24 43.76 189.98 2.20 16.87 22.00 0.78 14.88

Change

Vol

0.24 4.45 -0.04 -0.18 0.26 -1.00 0.52 0.20 -0.23 -5.87 0.09 -0.36 0.02 27.34 0.05 -0.36 -2.89 -0.02 -0.40 -0.04 -0.23 0.00 0.00 1.01 -0.05 -0.40 0.55 0.00 -0.10 -0.27 1.00 0.95 2.35 1.00 -0.72 0.09 0.00 0.09 -0.15 -0.98 -0.20 -0.07 -1.00 0.28 48.30 1.69 -0.34 0.62 0.46 3.48 0.00 0.13 0.49 0.40 1.00 0.39 0.61 0.72 2.04 -0.74 3.41 0.08 0.99 0.00 0.08 0.98

100 100 100 87 53 50 50 50 48 40 33 21 20 18 17 16 15 14 14 14 14 13 13 12 11 11 11 10 10 10 7 6 6 6 5 5 5 5 4 4 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Performance of SR Equity Investment Instruments Index High Low 1,355.46 1,312.79 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 2.21

4.20 90.35 20.68 1.20 1.56 9.78 1.26 62.50 18.25 134.00 6.05 20.49 10.63 2099.65 4.08 2.59 59.00 0.63 1.71 2.54 6.26 3.21 92.11 115.00 3.80 6.00 8.15 21.10 7.25 3.26 1100.00 58.00 47.04 27.00 5.72 1.65 1.49 2.80 6.97 1.48 7.50 1.34 3.50 1.80 1051.70 33.97 2.70 3.37 5.33 70.00 0.90 8.30 29.25 36.45 34.49 6.10 6.88 2.20 57.20 44.50 186.57 2.12 15.88 22.00 0.70 13.90

Open

POL-JAN 296.01 NBP-JAN 74.48 FFBL-JAN 35.30 NML-JAN 62.81 ANL-JAN 9.45 ENGRO-JAN 191.80 PPL-JAN 215.60 PSO-JAN 294.48 MCB-JAN 223.77 DGKC-JAN 29.27 UBL-JAN 65.83 PTC-JAN 19.21 FFC-JAN 124.00 AICL-JAN 84.04 NCL-JAN 22.38 OGDC-JAN 168.33 LUCK-JAN 74.05 NETSOL-JAN 19.23 HUBC-JAN 37.22 BOP-JAN 9.50

EQUITY INVESTMENT INSTRUMENTS Open 1,322.98 Turnover 5,634,070 P/E (x) 20.40

Open

-

High 309.99 77.39 37.06 65.95 9.70 197.85 221.05 300.50 229.39 30.39 67.40 19.70 130.20 86.63 23.40 171.00 76.00 19.75 37.50 9.72

Low

Close

296.63 74.65 35.35 62.76 9.31 192.22 216.00 295.00 224.06 29.60 66.50 19.55 126.00 84.30 23.01 168.51 74.00 19.65 37.50 9.65

308.66 76.89 37.06 65.95 9.41 197.42 219.98 298.26 228.34 30.29 67.09 19.59 130.20 86.46 23.15 170.80 75.72 19.65 37.50 9.72

Change

Vol

12.65 1927000 2.41 1171500 1.76 1028500 3.14 964500 -0.04 490500 5.62 352500 4.38 262000 3.78 188500 4.57 158500 1.02 134000 1.26 114000 0.38 87500 6.20 78500 2.42 75500 0.77 49500 2.47 49500 1.67 46500 0.42 8000 0.28 5000 0.22 3500

ZERO VOLUME Symbols

Open

ANSS

5.00

BCML

12.43

High 5.10

Low

Change

Vol

5.10

0.10

11.43

-1.00

0.00

1.40

1.40

1.40

0.14

0.00

18.51

19.50

19.50

19.50

0.99

0.00

DINT

26.80

26.70

26.70

26.70

-0.10

11.43

5.10

Close

1.26

DADX

BILF

11.43

0.00

0.00

DKTM

3.10

2.98

2.98

2.98

-0.12

0.00

GUTM

18.00

19.00

19.00

19.00

1.00

0.00

HAFT

19.00

19.05

19.05

19.05

0.05

0.00

HAJT

0.90

0.69

0.69

0.69

-0.21

ICL

34.50

IDEN

0.00

34.35

34.35

34.35

-0.15

0.00

11.00

12.00

12.00

12.00

1.00

0.00

KOHTM

1.40

1.25

1.25

1.25

-0.15

MUBD

3.00

2.75

2.75

2.75

-0.25

REWM

9.40

9.39

9.39

9.39

-0.01

0.00

RUBY

5.00

5.50

5.50

5.50

0.50

0.00

SALT

63.00

62.00

62.00

62.00

-1.00

0.00

SGPL

1.25

1.20

1.20

1.20

-0.05

0.00 0.00

0.00

BOARD MEETINGS

Fauji Fertiliser Bin Qasim Ltd

KSE 100 INDEX

Nishat Mills Ltd

National Bank of Pakistan

Company

Date

Time

Dewan Sugar Mills Ltd Quice Food Industries Ltd Alfalah GHP Principal Protected Fund Alfalah GHP Principal Protected Fund II Noon Sugar Mills Ltd Mitchell's Fruit Farms Limited Shakarganj Mills Limited Premier Sugar Mills Chashma Sugar Mills Ltd. Crescent Sugar Mills Mubarak Textile Mills Ltd Quetta Textile Mills Ltd Colony Sugar Mills Ltd

05-Jan 06-Jan 06-Jan 06-Jan 06-Jan 06-Jan 06-Jan 06-Jan 06-Jan 06-Jan 07-Jan 07-Jan 07-Jan

3.30 11.00 4.00 4.00 12.30 11.00 12.30 11.00 12.00 10.30 10.00 11.00 11.30

TECHNICAL LEVELS Company

Technical Outlook Technical Analysis RSI (14-day) MA (5-day)

Brokerage House

Leverage Position

72.01

Support 1

11,934.80

11,979.93

Support 2

11,759.30

MA (10-day)

11,915.71

Resistance 1

12,200.40

MA (100-day)

10,594.27

Resistance 2

12,290.55

*Arif Habib Ltd

10,339.66

Pivot

major 1st resistance level at 12,200.40 and 2nd resistance level at 12,290.55, while Index will continue to find its 1st support level at 11,934.80 and 2nd support level at 11,759.30.

32.06

TFD Research

29.1

Brokerage House

Sell

*Arif Habib Ltd

Accumulate

AKD Securities Ltd

Negative

TFD Research

Technical Outlook Technical Analysis 60.16 36.28 30.98 30.11

12,024.95

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

Rs Recommendations

34.7

AKD Securities Ltd

RSI (14-day) MA (10-day) KSE 100 INDEX closed up 260.80 points at 12,110.26. Volume was 144 MA (100-day) per cent above average and Bollinger Bands were 5 per cent narrower MA (200-day) MA (200-day)

Fair Value

Fair Value

Rs Recommendations Buy

AKD Securities Ltd

61.96

Neutral

TFD Research

92.3

Positive

82.1

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

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

Leverage Position

68.56 73.85 66.55 68.08

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Brokerage House

Fair Value

318.44 24,364.17 88.62 75.48

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

Brokerage House

*Arif Habib Ltd

317.2

Hold

AKD Securities Ltd

AKD Securities Ltd

296.6

Buy

TFD Research

TFD Research

281.35

72.87 293.94 249.21 239.73

Fair Value 24.04 30.5

Rs Recommendations

Brokerage House

Buy

*Arif Habib Ltd AKD Securities Ltd TFD Research

Technical Outlook

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

107.94 33,208.40 365.64 301.77

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

59.97

Buy

74.2

Positive

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

66.01 63.10 51.91 51.39

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

175.80 11,520.17 75.15 64.07

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

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

54.70 19.34 19.00 19.51

volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NML at a relatively equal pace. Trend forecasting oscillators are currently bullish on NML.

Fauji Fertiliser Co

Fair Value

Rs Recommendations

Brokerage House

585.00 11,407.49 6.74 19.41

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

Rs Recommendations

Sell

*Arif Habib Ltd

127.8

Hold

Buy

AKD Securities Ltd

122.1

Accumulate

Neutral

TFD Research

208.75

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

Fair Value

176 238.8

58.93 194.41 180.08 185.20

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

114.33

Negative

Technical Outlook

Technical Outlook

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

NML is currently 27.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average

Engro Corporation

Positive

Neutral

Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

ing oscillators are currently bullish on NBP.

Pakistan Telecommunication Co Ltd

Rs Recommendations

Rs Recommendations

FFBL closed up 1.75 at 36.83. Volume was 349 per cent above average NBP closed up 2.43 at 76.51. Volume was 90 per cent above average and NML closed up 3.12 at 65.53. Volume was 34 per cent above average and (trending) and Bollinger Bands were 22 per cent narrower than normal. Bollinger Bands were 22 per cent wider than normal. Bollinger Bands were 13 per cent narrower than normal.

ing oscillators are currently bullish on FFBL.

Pakistan Oilfields Ltd

Fair Value

Technical Outlook

Technical Outlook

Leverage Position Free Float Shares (mn) 326.94 Free Float Rs (mn) 12,041.14 ** NOI Rs (mn) 49.11 Mean 36.01

KSE 100 INDEX is currently 17.2 per cent above its 200-day moving average FFBL is currently 22.4 per cent above its 200-day moving average and is NBP is currently 13.0 per cent above its 200-day moving average and is and is displaying an upward trend. Volatility is extremely high when compared displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators 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 reflect moderate flows of volume into FFBL (mildly bullish). Trend forecast- reflect moderate flows of volume into NBP (mildly bullish). Trend forecastindicating that INDEX is currently in an overbought condition.

Brokerage House

147.48 28,921.14 55.78 193.75

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

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

73.79 123.54 110.07 109.73

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

373.19 48,391.53 19.62 126.78

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

POL closed up 12.99 at 307.65. Volume was 207 per cent above average PTC closed up 0.25 at 19.50. Volume was 180 per cent above average ENGRO closed up 5.63 at 196.10. Volume was 201 per cent above aver- FFC closed up 6.16 at 129.67. Volume was 352 per cent above average (trending) and Bollinger Bands were 1 per cent narrower than normal.

(trending) and Bollinger Bands were 67 per cent narrower than normal. POL is currently 28.3 per cent above its 200-day moving average and is PTC is currently 0.01 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to displaying a downward trend. Volatility is low as compared to the average the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect modreflect moderate flows of volume into POL (mildly bullish). Trend forecasting oscillators are currently bullish on POL. Momentum oscillator is current- erate flows of volume into PTC (mildly bullish). Trend forecasting oscillaly indicating that POL is currently in an overbought condition.

tors are currently bearish on PTC.

age (trending) and Bollinger Bands were 28 per cent wider than normal.

(trending) and Bollinger Bands were 176 per cent wider than normal.

ENGRO is currently 5.9 per cent above its 200-day moving average and is FFC is currently 18.1 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into FFC (bullish). Trend forecasting reflect volume flowing into and out of ENGRO at a relatively equal pace. oscillators are currently bullish on FFC. Momentum oscillator is currently Trend forecasting oscillators are currently bullish on ENGRO.

indicating that FFC is currently in an overbought condition.

Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele

RSI 1st 2nd (14-day) Support 45.40 3.05 2.95 71.26 69.10 67.40 47.04 62.05 61.65 53.42 24.40 23.65 45.58 25.20 24.70 53.80 84.50 83.00 56.40 17.10 16.85 33.31 9.15 8.95 64.76 334.75 331.35 58.12 121.50 117.55 61.89 10.90 10.60 64.74 3.55 3.40 48.65 9.45 9.20 48.43 2.00 1.85 52.32 29.45 28.75 59.28 2.95 2.70 38.79 2.55 2.50 48.41 42.95 42.15 43.18 73.60 73.30 58.93 192.75 189.40 58.74 15.20 14.90 46.53 4.95 4.90 60.16 35.80 34.75 73.79 126.05 122.45 63.28 120.15 118.40 65.48 37.20 36.45 65.72 142.95 139.65 49.76 251.50 249.50 47.20 3.75 3.65 49.64 1.65 1.60 44.46 2.50 2.45 44.21 10.60 10.15 72.54 41.00 39.75 78.11 3.05 2.70 70.31 13.70 13.05 50.85 73.85 72.15 65.21 224.80 221.65 41.39 2.75 2.65 68.56 74.90 73.30 56.95 22.60 22.00 63.51 19.15 18.85 52.02 2.85 2.80 56.26 1.95 1.85 66.01 63.70 61.90 66.36 169.95 168.60 42.86 2.70 2.65 42.39 1.95 1.85 58.21 2.30 2.15 43.47 6.70 6.60 72.87 299.25 290.90 67.42 216.50 213.20 42.97 68.20 67.10 64.94 293.35 290.00 54.70 19.35 19.15 57.37 203.65 200.35 46.07 26.20 25.15 46.94 12.90 12.60 52.58 21.20 20.60 43.34 2.15 2.10 31.49 3.40 3.30 60.22 65.75 64.85 47.21 2.70 2.60

1st

2nd

Resistance 3.35 3.55 71.85 72.90 62.85 63.20 25.50 25.90 26.00 26.30 86.75 87.55 17.50 17.65 9.60 9.85 340.25 342.35 127.60 129.75 11.45 11.70 3.75 3.85 9.75 9.90 2.25 2.40 30.55 30.95 3.30 3.40 2.80 2.95 44.20 44.70 74.50 75.10 198.20 200.30 15.85 16.15 5.10 5.15 37.35 37.85 131.50 133.30 122.95 124.00 38.50 39.05 148.30 150.45 255.00 256.50 4.00 4.10 1.80 1.90 2.60 2.65 11.35 11.65 43.00 43.75 3.65 3.90 14.75 15.10 76.50 77.45 230.30 232.65 2.90 3.00 77.55 78.60 23.50 23.80 19.80 20.05 3.00 3.05 2.10 2.15 66.45 67.35 172.20 173.10 2.80 2.85 2.20 2.35 2.55 2.60 6.85 6.95 312.50 317.40 221.95 224.10 70.70 72.10 300.00 303.30 19.65 19.75 208.85 210.75 27.75 28.30 13.45 13.65 22.15 22.50 2.25 2.35 3.60 3.70 67.30 67.95 2.85 2.95

Pivot 3.25 70.15 62.45 24.80 25.50 85.30 17.25 9.40 336.85 123.65 11.15 3.60 9.55 2.15 29.85 3.05 2.70 43.40 74.20 194.85 15.50 5.00 36.30 127.85 121.20 37.75 145.05 253.00 3.85 1.75 2.55 10.90 41.75 3.30 14.05 74.80 227.15 2.85 75.95 22.90 19.45 2.90 2.00 64.60 170.85 2.75 2.10 2.40 6.75 304.15 218.65 69.60 296.65 19.45 205.55 26.75 13.15 21.55 2.20 3.50 66.40 2.80


8

Wednesday, January 5, 2010

No good news on National Internships

Education city Sui blueprinted Gen Kayani inaugurates Military College QUETTA: Chief of Army Staff (COAS), General Ashfaq Parvez Kayani visited Sui Cantonment, where he inaugurated Military College Sui announcing establishment of Education City in Sui. Governor and Chief Minister Balochistan inaugurated Academic Block and the Hostel of Balochistan Public School Sui respectively. A large number of Parliamentarians, Baloch tribal elders, military officials and locals were present at the occasion. Governor and Chief Minister Balochistan appreciated the efforts of Army in bringing education and social development to remote areas of Balochistan. In his address, COAS spoke about various projects initiated by Pakistan Army, with the support of locals and the Provincial Government. In the education field, he said that presently 22,786 Baloch students are studying in Army and Frontier Corps run educational institutions. In addition, 4,268 Baloch students are benefitting from Chamlang Beneficiary Education Program, whereas, 662 Baloch students are studying in reputed institutions of other provinces. To enhance technical skills of Baloch youth for better job opportunities, Balochistan Institute of

Raisani pours praises over edu city plan QUETTA: Chief Minister Balochistan Nawab Mohammad Aslam Raisani has termed the plan of converting the cantonment into the education city an ingenious idea to remove the grievances of people of Balochistan. Talking to mediamen during his visit to Pakistan Education City, Sui (PECS) here, he hailed the establishment of PESC in Sui as saying withdrawal of forces from Dera Bugti was the one of the pledges made by PPP government which it materialised in true letter and spirit. "It would be pen and not the gun that can steer Balochistan out of prevailing crisis," he noted and added that use of force had never been the resolution to any problem in the human history. Expressing his displeasure over the killing of low profile people, he said these are against the norms of Balochs and those who are involved in such activities are not serving the cause of Baloch people. -Agencies

Technical Education (BITE) managed by Pakistan Army, has thus far trained 1,673 individuals. In this regard, Gwadar Institute of Technical Education will also start functioning soon. COAS hoped that establishment of Education City at Sui will open new avenues for the development and prosperity in remote areas of Balochistan. With regard to Army's contributions in development of other social sectors in Balochistan, COAS mentioned about Chamlang Project which created job opportunities for approx 74,052 locals. Besides, a 50 bed hospital is being constructed at Sui under Army's supervision and with the support of Pakistan Petroleum Limited, to improve health facilities in the area. COAS also expressed satisfaction over the results of Army recruitment drive in Balochistan whereby 3,350 young men from Balochistan have recently joined various units of Pakistan Army, thus contributing towards defence of the Motherland. COAS concluded that development and prosperity of Balochistan will contribute towards a peaceful and progressive Pakistan. Army would continue to play its part in the security of the Country. -Agencies

Student Loan Programme for the needy scholars

HEC to lend higher edu to the deserving ISLAMABAD: Higher Education Commission (HEC) through its `Student Loan Programme' will extend the opportunity of higher education to all the needy students of public and private institutions of higher learning. Talking to APP, Executive Director HEC, Sohail Naqvi informed that the HEC is in process of designing a model for development of a sustainable Student Loan Programme in Pakistan which can help brilliant students in acquiring higher studies, extending loan facility to them. The programme will benefit the students who are unable to get higher education due to financial constraints, following transparent procedures and best international practices. "The scheme will not only cover tuition fees of the students but all costs as well," he said. "We are discussing how the programme will be

executed for those students in Pakistan who cannot afford to meet expenses of higher education. The students will be provided loan on subsidised interest rate with the condition of returning as soon as they become independent and get jobs" ,Dr Sohail said. The main focus is to prepare the policy document for the programme which can be acceptable for all the stakeholders, he said. Mostly regular banks are at the front in extending loan facility for the students and this programme will be implementation in collaboration with them. The commercial banks show lack of interest in such projects as they are not sure about the recovery of loans, but these banks have no tools to verify whether the student is a deserving one, Dr Sohail observed. A mechanism will be placed at the institution level to verify the financial conditions of the students to make the pro-

gramme more transparent. "We are preparing a preliminary design of the programme and discussing modalities in various scenarios with the special emphasis on supporting banks and protecting these from risk loan defaults," Dr Sohail said. National Education Policy-2009 has set target to increase enrolment at higher education level from existing 4.6 per cent (1.1 million approximately) including colleges and distance education to 10 per cent by 2015 and 15 per cent by 2020 which means tripling the enrolment of higher education sector in the next six years, he mentioned. Recently, HEC officials held a meeting with the other stakeholders and discussed the designing and development of the draft of the programme in compliance with the directives of the President of Pakistan to develop a sustainable Student Loan Programme.APP

SU VC to take stock of students’ meeting HYDERABAD: Vice Chancellor University of Sindh Prof Dr Nazir A Mughal has said that he would start inspecting the schedule of students meeting hours dedicated by teachers --to be posted by faculty members in front of their offices for information of their students beside the allocated credit hours of teaching, as part of academic reforms from January 15. He informed faculty heads in the meeting of the Deans' Council to finalise the schedule of semester reforms to be fully implemented in teaching departments during the ongoing academic session. The VC said that he is sure about implementation of semester system in its true sprit during the academic year 2011 and hoped that the deans who are academic heads would check it and will help in its further improvement. He said that academic reforms would be implemented step by step in the University

to raise the standard of higher education and research activities. The Vice Chancellor termed the semester system good saying it'll help students repose more confidence in their teachers as well as respect. The meeting also decided that summer teaching at the University as well as its Old Campus Hyderabad in addition to regular teaching for fresh, improver and failed candidates would be initiated during the month of May and some key course in first instance would be introduced. For this purpose a feasibility report will be submitted by the deans of the faculties. The meeting also decided that a copy of syllabus would be handed over to the students during their classes for their guidance while the faculty member would introduce themselves before the students in the class. -APP

NUST learns about tools of policing plagiarism ISLAMABAD: Higher Education Commission (HEC) in collaboration with National University of Sciences and Technology (NUST) arranged a training session for the faculty of NUST to curb plagiarism in the universities to promote quality research culture. Dr Asif Raza, Pro Rector, chaired the session. Dr Khalid Latif from School of Electrical Engineering and Computer Science (SEECS), NUST introduced integration of Moodle/Learning Management Systems (LMS) and Turnitin. Turnitin allows students and instructors to review matches between the submitted work and the internet sources. Citations, quotations, and bibliographic material are all scanned by the Turnitin to determine an overall similarity percentage. Trunitin has been provided to 60 public sector universities in order to check cutpaste text in documents i.e. papers, theses, reports. Many universities are using LMS for keeping track of whole academic activity. Turnitin can be integrated in these LMS systems to save time and effort. Moodle is an Open Source LMS, developed initially at Curtin University Australia, to automate the administration, documentation, tracking, and reporting of training events. LMS provides an online platform for both the teachers and students for extending learning outside the classroom boundaries. Dr Khalid mentioned how the LMS team managed to successfully integrate Moodle and Turnitin. He thoroughly demonstrated how the system works. Muneer Ahmed, Deputy Director (Quality Assurance) HEC demonstrated three components of Turnitin i.e. Originality Check, Peer Mark and Grade Mark. -Agencies

SUI: Chief of Army Staff General Ashfaq Parvez Kayani speaks during the inauguration ceremony of military college. -Online

Campus Recruitment Programme

Foreign co interviews SSUET’s final-yearists KARACHI: The Sir Syed University of Engineering and Technology (SSUET) conducted a "Campus Recruitment Programme" in which a multinational company operating in 64 countries around the globe held the test for hiring internees and recruitment for job positions. A spokesperson of the institution said that around 150 final year students of Electronic Engineering Department appeared in the test. Engr Muhammad Adil Usman, Member Board of Governors, Sir Syed University of Engineering and Technology, in his inaugural address said that SSUET is the only private engineering university which has produced over 10,000 engineering graduates since its inception. Aligarh Institute of Technology (AIT), a sister concern of SSUET, has awarded certificates and diploma to over 12,000 professionals and is now

planning to conduct degree programmes in the field of Business Administration and Financial Management. He said that both SSUET and AIT continue to strive for imparting quality education and producing top professionals to serve the country and overseas. He said that "Campus Recruitment Programme" will continue and national and multinational organizations and companies will visit the university to conduct test and interview of potential candidates in future. Registrar Shah Mahmood H Syed said that basic purpose of this programme is to introduce students to the practical world and guide them how to appear in the test and interview for the job. Muhammad Yahya Waliullah, Director IT and Statistical Bureau, SSUET, gave a detailed presentation on career guidance and focused on how to tailor CVs and attract the attention of the organisation.-APP

ISLAMABAD: A large number of post graduate students in the country are unable to get the desired experience under the National Internship Programme, because of their irrelevant placement in the public sector departments. The President of Islamabad Chamber of Commerce & Industry, Mahfooz Elahi said that the National Internship Programme has failed to achieve its objective in providing right experience to the talented youth according to their education. He said that this year Rs3.6 billion has been allocated for National Internship Programme for providing internships to around 30,000 students of HEC recognized universities but a large portion of this amount will be wasted again. As per policy, students are inducted for internship in the public sector only and majority of them are placed in those departments which are totally irrelevant to their education, Elahi said. Before starting jobs, students are required to undergo internships to get the practical experience and knowledge relevant to their studies but under the National Internship Programme, they are unable to get desired experience. President ICCI said that government should revisit its policy and internship must also be offered in the Private sector, where students can have better opportunities of getting good experience in the private sector environment. -Agencies


9

Wednesday, January 5, 2011

Oil backs below $90 after series of 27-month highs

European vegetable oil prices

Sell off after recent rally pressures commodities

ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Mar11 1020.00, Apr11/Jun11 1023.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1100.00-25.00, May11/Jul11 1085.00-15.00, Aug11/Oct11 1010.00-10.00, Nov11/Jan12 1020.00-10.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1505.00+5.00, Apr11/Jun11 1465.00-5.00, Jul11/Sep11 1495.00+5.00, Oct11/Dec11 1395.00-5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Jan11/Feb11 1377.50-5.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1310.00-2.50, Feb11 1305.002.50, Mar11 1305.00+2.50, Apr11/Jun11 1275.00-5.00, Jul11/Sep11 1265.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1307.50, Mar11 1307.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1262.502.50, Mar11 1262.50-2.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1272.50-2.50, Mar11 1272.502.50, Apr11/Jun11 1262.507.50, Jul11/Sep11 1240.0012.50, Oct11/Dec11 1230.00. PALM STEARIN: Dlrs tonne fob Malaysia Jan11 1240.0010.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 1895.00-5.00, Feb11/Mar11 1885.00-5.00, Mar11/Apr11 1875.00-15.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1925.00+0.00. Reuters

NEW YORK: Oil dropped more than 2 per cent on Tuesday, falling from a 27month high as profit-taking struck the commodities complex following a series of peaks over the thin holiday trading period. Dealers said the abrupt selling across energy, metal and agricultural markets reflected a correction in the rally that had capped 2010 rather than a sudden reversal of the optimism that made commodities the top asset class last year. Trading volume recovered to its highest levels since midDecember. "We had an end of year runup and now we are getting the beginning of the year sell-off," said Stephen Schork, president at the Schork Group in Villanova, Pennsylvania. Additional pressure came from a rebound in the dollar, which turned positive on an improving US economic out-

look. US crude oil for February delivery fell $2.35, or 2.57 per cent, to $89.20 a barrel at 1620 GMT, sliding from an intraday peak of $92.07. It was the biggest one-day decline since mid-November. In London, ICE Brent crude for February fell $1.79 to $93.05 a barrel, well off an

early $95.74 peak. Copper and gold both fell more than 2 per cent while cocoa and sugar fell by around 3 per cent in the broadest retreat in commodity markets since a mid-November rout. But US stock indexes were little changed as optimism over the economic outlook was offset by a decline in consumer stocks. The retreat by US oil futures comes after they settled at a 27-

month peak above $91 a barrel on Monday as US and European manufacturing data suggested improving economic growth that could bolster oil demand. "Built into pricing for commodities was a premium for flight to safety," said John Kilduff, partner at Again Capital LLC in New York. "With the economic recovery now in plain view and equities coming back into favor, that vestige of safety is losing its appeal. It's happening with oil and there's a similar free fall in precious metals." Investors will be eyeing the Federal Open Market Committee minutes from the Dec. 14 meeting for clues on the US central bank's outlook on the economy and intentions about keeping intact recent initiatives to stimulate a faltering economic recovery. The Fed minutes are due at 1900 GMT. -Reuters

Indian sugar slips on weak demand SYDNEY : Experts of an Austrian art forwarding company remove the world's largest gold coin, a 2007 Canadian $ 1,000,000 Maple Leaf with a weight of 100 kilos and a diameter of 53 cm from Dorotheum auction house. The coin, made exclusively of pure 999.99/1000 gold, was bought by a Spanish precious metals trading company for 3.27 million euros, its exact material worth, from the estate of an insolvent investment firm. -Reuters

Palm oil at 33-mth high in weather-driven rally KUALA LUMPUR: Malaysian crude palm oil hit a fresh 33month high on Tuesday as part of a weather-driven rally in global vegetable oil markets. Heavier-than-usual rains stalled harvesting in top producers Indonesia and Malaysia, and dry weather slowed soy plantings in South America, raising concern over tight supplies. Prospects of shrinking supplies come as top Asian buyers such as China need to build inventories for Lunar New Year holidays in early February, which run for about 10 days. "The palm oil market is pacing itself for more gains. The consensus is that in the first

quarter prices will strengthen as adverse weather intensifies and demand grows," said a trader with a foreign commodities brokerage. The benchmark March 2011 crude palm oil contract on Bursa Malaysia Derivatives rose 0.9 per cent to 3,888 ringgit ($1,268.722) per tonne, after earlier going as high as 3,905 ringgit -- a level unseen since March 10, 2008. A Goldman Sachs analyst said palm oil's price cycle may peak in the first half of 2011 as Asian buyers chase vegetable oil supplies that are shrinking due to adverse weather. Crude oil hovered near its

highest price levels in more than two years, which tends to support prices of vegetable oils in the bioethanol markets. US soyoil for January delivery rose 0.7 per cent in Asian trading hours, with some traders still pricing in the impact of drier Argentine weather on soy yields. But a forecast for improved weather in the South American country may trigger some selling pressure later on, regional traders in Asia said. The most active Sept 2011 soyoil on China's Dalian Commodity Exchange rose 1.3 per cent after a long holiday weekend. -Reuters

Record high Tokyo rubber set to rise further BANGKOK: Tokyo rubber futures jumped 3 per cent to another record high on Tuesday, supported by a better global economic outlook and limited supply from producing countries, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery rose 11.8 yen to settle at 426.3 yen ($5.21) per kg. It went as high as 426.6 yen, the highest ever. Oil hovered near its highest level in more than two years as higher manufacturing activity in industrialised economies and winter weather fanned expectations US

crude inventories would continue to fall. The dollar inched down after rising in Asia early on Tuesday, with the yen on the backfoot, after better manufacturing and construction data suggested the US economy would accelerate in 2011. "There were some profit-hunters that sold contracts and capped the rise in

TOCOM prices. However, price were expected to remain high over the next couple of weeks as supply was still limited," one dealer said. Thailand and Malaysia have been hit by unseasonably heavy rain while Indonesia is still in a longer-than-expected dry season, traders said. Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for December 31 2010 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1250

December (3rd Wednesday)

1320

1260

January (3rd Wednesday)

1320

1260

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for December 31 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller

2230 2240 2185 2195 2140 2150 2140 2150

2456 2461 2467 2468 2518 2523 2553 2558

9739 2585 9739.5 2587 9660 2563 9665 2563.5 9380 2510 9390 2515 8930 2467 8940 2472

24940 24960 24945 24950 24525 24625 23750 23850

TIN

ZINC NASAAC

26940 2432 26945 2432.5 26870 2441 26920 2442 26425 2470 26475 2475 2443 2448

2270 2280 2295 2305 2320 2330 2375 2385

MUMBAI: Sugar prices in India fell on Tuesday afternoon on subdued domestic demand and a pick-up in cane crushing, though a rise in overseas markets cushioned the downside, analysts and dealers said. "In the physical market demand was weak... in Maharashtra mills have so far crushed higher amount of cane, but lower recovery rate is still a concern," said Ashwini Bansod, a senior analyst at MF Global Commodities India. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety eased 0.42 per cent to 2,838 rupees ($63.2) per 100 kg. At 3:14 p.m., the most-traded M grade sugar contract for January delivery on India's National Commodity and Derivatives Exchange (NCDEX) was 1.01 per cent lower at 2,946 rupees per 100 kg, after hitting a contract low of 2,932 rupees. India has asked sugar mills to register for unrestricted sugar exports from Monday, a government statement said, a step that could help mills make timely payment to cane growers by taking advantage of the current high global prices. -Reuters

Copper gets off record on easing worries LONDON: Copper fell from a record high on Tuesday after manufacturing data from around the world flagged economic improvement and speculation rose of a possible roll back of easy monetary policy for the new year. London Metal Exchange benchmark copper for delivery in three months closed at $9,580 a tonne, down from Friday's closing ring trading bid of $9,660. The metal used in power and construction had earlier reached a record $9,754 a tonne. Other metals rose, with nickel touching its highest since May at $25,300 a tonne and lead hitting its highest since mid-November at $2,610. Much of the last year's rally had been on the back of expectations of almost limitless liquidity, said BNP Paribas analyst Stephen Briggs. "If that's withdrawn a bit then perhaps there's a little less appetite for risky assets," he said. "Things have gotten overcooked... the dollar has also turned around.. they were overdue for a correction." The latest data out from the United States manufacturing sector further brightened the economic picture for the world's top economy as November factory orders rebounded from a contraction in October. "The data was stronger than expected...we will continue to see strong industrial metals prices as the global economy continues to recover strongly from 24 months ago," said analyst Robin Bhar at Credit Agricole. Copper is widely expected to build on its nearly uninterrupted rally in the second half of

2010 as ore grades decline, new mines remain scarce and top buyer China grows. The world's No. 3 copper mine, Chile's Collahuasi, has restarted exports via an alterna-

Shanghai copper falls Shanghai's third month copper contract fell 50 yuan to 71,800 yuan, having touched a 43-month high of 72,460 yuan earlier. tive port. But deliveries are not yet enough to lift a two-weekold force majeure, prompted by an accident at the mine's main sea terminal, that has rattled metal markets. "The undertone is still pretty much bullish and the market has begun the year with some tail-wind," a trader said. Copper has been benefiting from a tightening market, where stocks in LME warehouses have tumbled more than 30 per cent since the middle of February last year. However latest data showed LME stocks rose 125 tonnes to 377,675 tonnes. Lead inventories rose 275 tonnes to 208,550 tonnes, coming close to their May 2000 peak of 208,650 tonnes. Lead closed at $2,609 a tonne versus Friday's close of $2,560. Nickel changed hands last at $25,155 a tonne from $24,950. Aluminium closed at $2,485 versus Friday's close of $2,467 a tonne. It rose to $2,495 earlier, just $5 short of two-year highs at $2,500 from November. Zinc ended at $2.470 up from $2,440. Tin finished at $26,350 a tonne versus $26,870. It is nearing record highs of $27,500 from Nov. 9. -Reuters

Sugar falls on strong $; cocoa falls LONDON: ICE raw sugar futures fell in a reversal of earlier sharp gains on Tuesday as the dollar strengthened, while cocoa extended losses as concerns over supplies from Ivory Coast eased after a disputed election. Arabicas also fell, with downside potential limited by tight availability of high-quality beans after a 77 per cent surge in prices in 2010. ICE raw sugar futures fell as the dollar strengthened, having earlier corrected higher in a readjustment after a 10 per cent sell-off on Dec. 30 and as some dealers cited talk that funds were re-weighting sugar in portfolios. ICE March raw sugar was down 0.35 cent or 1.1 per cent at 31.77 cents a lb at 1547 GMT and below a 30-year peak of 34.77 cents a lb touched on Dec. 29. London March white sugar reversed earlier sharp gains and was down $2.80 or 0.4 per cent at $774.70 per tonne in thin volume of 2,404 lots at 1548 GMT. Cocoa prices were lower as the focus remained on the smallerthan-expected impact of the political impasse in top producer Ivory Coast. ICE March cocoa traded $97 or 3.2 per cent lower at $2,938 a tonne in light volume of 662 lots. London second-month, May cocoa was down 49 pounds or 2.4 per cent to 1,980 pounds per tonne in slim turnover of 1,630 lots. Arabica coffee prices eased but remained near a 13-1/2 year high touched in December, underpinned by tight supplies. ICE second-month, March arabicas were down 5.0 cents or 2.1 per cent at $2.355 a lb at 1551 GMT, under pressure from the stronger dollar. London second-month, March robustas were down $18 or 0.9 per cent at $2,079 per tonne in moderate volume of 7,015 lots. Reuters

Gold sheds nearly 2pc as risk appetite grows LONDON: Gold tumbled more than 2 per cent on Tuesday and was on track for its biggest oneday loss since early November as the dollar rose and investors opted for assets seen as higher risk, like stocks, at commodities' expense. Expectations that the eurozone debt crisis could worsen, concerns over the potential for inflation in developing economies and an increased focus on the US deficit are set to underpin investment demand for gold, however, analysts said. Spot gold was bid at $1,384.20 an ounce at 1609 GMT, against $1,414.00 late in New York on Monday. US gold futures for February delivery fell $37.70 an ounce to $1,385.20. The metal reached its highest in nearly a month on Monday at $1,423.57 an ounce, but struggled to hold gains after purchasing managers' indexes showed manufacturing growth quickened in the United States

and Europe, boosting risk appetite. "The PMI data in particular is suggesting things are getting better rather than worse," Macquarie analyst Hayden Atkins said. "Maybe gold will take a bit of a back seat from a performance point of view for the next month or so."

"Pressure (on gold) is expected to return over the next week or two based on our expectation for a reversal in oil prices, gains in the stock market and general stability in the dollar," MF Global said in a note. While risk appetite was firm in the early trading days of 2011, plenty of safe-haven support remains for gold, as concerns persisted over debt levels in the euro-zone and over the outlook for US growth. "The majority of factors for

gold are very positive," said Credit Suisse precious metals analyst Tom Kendall. "If you were looking for negatives, you would have to say the lack of any sizeable dehedging programme this year from the miners would be one that you could pick up on, but from the investment community, sentiment is still very much bullish towards gold." But gold demand in the world's biggest bullion consumer, India, was weak on Tuesday as the country's wedding season neared its end. "There is less demand as prices are really volatile," said one dealer. "Some stagnation is coming." Spot silver slid to $29.89 an ounce from $30.66 an ounce, retreating from the previous session's peak of $31.22, its highest since 1980. Platinum was at $1,744.75 an ounce against $1,766, while palladium was at $771.50 against $789.97. -Reuters

National Commodity Exchange Ltd Trading Summary Date

4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011 4-Jan-2011

Commodity

CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M

Contract Date

Price Quotation

Open

High

Low

Close

FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 06JA11 JA11 JA11 11-Mar 11-Jun

US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

92.08 93.10 93.81 31.16 31.23 1423.20 1424.00 1425.30 1417.00 1424.30 1425.40 39272.00 39104.00 39296.00 39244.00 39254.00 45774.00 45774.00 40376.00 40318.00 40332.00 40347.00 40361.00 46799.00 46306.00 46320.00 46394.00 46411.00 3454.00 3468.00 5377.00 86.20 85.33

92.53 93.12 93.81 31.21 31.23 1424.00 1425.20 1426.00 1423.20 1424.30 1425.40 39272.00 39281.00 39296.00 39244.00 39254.00 45774.00 45774.00 40376.00 40318.00 40332.00 40347.00 40361.00 46799.00 46361.00 46378.00 46394.00 46411.00 3454.00 3468.00 5425.00 86.21 85.34

91.40 92.50 93.52 30.53 30.77 1405.00 1405.80 1407.00 1406.50 1409.90 1409.90 38883.00 38786.00 38907.00 38855.00 38865.00 45320.00 45320.00 39968.00 40011.00 39925.00 39939.00 39954.00 45952.00 46001.00 45903.00 45919.00 45935.00 3427.00 3441.00 5377.00 86.20 85.33

91.91 92.80 93.52 30.74 30.77 1408.80 1409.90 1411.00 1408.80 1409.90 1409.90 38883.00 38892.00 38907.00 38855.00 38865.00 45320.00 45320.00 39968.00 40011.00 39925.00 39939.00 39954.00 45952.00 46001.00 45903.00 45919.00 45935.00 3427.00 3441.00 5425.00 86.21 85.34

Traded Volume in lots 109 20 446 926 1,201 915 12 5 3 1 1 -

Previous Settlement Price 91.63 92.55 93.29 30.71 30.74 1416.30 1417.30 1417.40 1416.30 1417.30 1417.40 39070.00 39079.00 39095.00 39043.00 39052.00 45538.00 45538.00 40158.00 40201.00 40114.00 40129.00 40143.00 46174.00 46224.00 46123.00 46140.00 46157.00 3454.00 3468.00 5377.00 86.20 85.33

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Current Open Interest Settlement in Lots Price 91.91 118 92.80 17 93.52 2 30.74 66 30.77 1408.80 1,001 1409.90 1,615 1411.00 472 1408.80 7 1409.90 1411.00 38883.00 30 38892.00 10 38907.00 38855.00 38865.00 45320.00 45320.00 39968.00 40011.00 39925.00 39939.00 39954.00 45952.00 3 46001.00 1 45903.00 1 45919.00 45935.00 6 3427.00 3441.00 5425.00 86.21 85.34 -


Bayern Munich's players are training at Aspire Academy in Doha

10

Wednesday, January 5, 2011

Kumble says no to IPL IV MUMBAI: Former Indian leg spinner Anil Kumble who also captained Royal Challengers Bangalore, has withdrawn from this weekend's IPL auction, citing business commitments. He had been among the 22 players with the highest reserve price of US$400,000 for the IPL auction to be held in Bangalore."I wish to withdraw from the players auction for IPL IV scheduled for the 8th and 9th of January 2011 in Bangalore," Kumble said in a press release. "I have enjoyed my stint at the IPL so far and thank all concerned for the support extended." Kumble retired from international cricket in 2008 and remains India's leading wickettaker in Test matches (619) and one-dayers (337). In November 2010, Kumble won the elections to become president of the Karnataka State Cricket Association, and he is also the vice-chairman of the state's Wildlife Board. In the IPL, Bangalore had a forgettable inaugural season under Rahul Dravid and started poorly in 2009 with Kevin Pietersen at the helm. Kumble took over as leader midway through that season and helped turn round Bangalore's form, taking them to the final and also captained them to the semifinals last year. The IPL chief operating officer Sundar Raman tweeted that Kumble's absence will be felt. "Jumbo [Kumble's nickname] will be missed in IPL. Been an inspiration for many youngsters."Online

Federer, Nadal to prevail: McEnroe HONG KONG: American tennis legend John McEnroe said Tuesday that there were no likely challengers who could break Roger Federer and Rafael Nadal's stranglehold on the game's top tournaments. "Federer and Nadal are two of the greatest players that have ever lived," McEnroe told reporters ahead of the exhibition Hong Kong Tennis Classic. "I see excellent players, bordering on great players, but I don't see them breaking and winning majors," he added. The Swiss; Federer and his Spanish rival have been engaged in one of sport's greatest and most enduring rivalries, dominating the game for years. Serbian world number three Novak Djokovic and Britain's number four Andy Murray will have to "work harder than ever to compete against two of the most talented players that ever played tennis," McEnroe said. "There's no reason to believe these guys [Federer and Nadal] are not going to be around for the next few years," he added. Djokovic lost to Nadal in last year's US Open final, while Murray fell to Federer in the Australian Open decider. Nadal stands at the top of the ATP rankings, some 3,305 points ahead of Federer, after a superb 2010 season when he grabbed the world number one spot as well as winning the French Open and Wimbledon singles titles. The Spaniard goes into the New Year having won nine major titles, trailing Federer's all-time record of 16. McEnroe, a seven-time Grand Slam singles champion, was speaking ahead of Wednesday's start to the annual Hong Kong tournament, considered a lead-up to the Grand Slam Australian Open later this month.-APP

Shoaib, Kaneria not on WC squad LAHORE: The career of former Pakistan cricket captain, Shoaib Malik appeared to meet a premature end when he, along with spinner Danish Kaneria was axed from Pakistan's 30-member preliminary squad named here on Tuesday for next month's World Cup. It seemed that both of them failed to satisfy the Pakistan Cricket Board's integrity committee, contrary to wicketkeeper Kamran Akmal who got the nod of selectors. PCB selection committee finalised the list of probable playWHANGAREI: Sohail Tanvir took four wickets to polish off the tail, New Zealand ers for World Cup one day ahead Cricket XI v Pakistanis, tour match, 2nd day.-Reuters of the extended deadline set by game's Ruling Body, the ICC to submit the names. The squad has veteran and reliable batsman, Muhammad Yousaf who has been re-called after missing out Pakistan's series against South Africa in UAE owing to injuries and fitness issues. The trio of WHANGAREI: Pakistan's Southee dismissed Tanvir before stumps were called Shoaib, Kamran and Kaneria three day tour cricket match Ahmed for 25 as Pakistan fin- early. Franklin was the top were facing an inquiry before the against New Zealand XI ended ished 97 runs short of New scorer with 30, while Tim integrity committee, reportedly in a draw on Tuesday. In their Zealand XI's first innings total McIntosh also enjoyed some only warm-up ahead of Friday's of 384. time at the crease making 26. first test against the Black James Franklin also took a Pakistan struck early in New Caps, Pakistan were dismissed wicket, as Sohail Tanvir edged Zealand XI's second innings for 287 before lunch at to Reece Young for a duck, dismissing Brendon McCullum Whangarei's Cobham Oval. while Chris Martin (3-69) and (18) and Kane Williamson (0) Starting at 234 for eight, Daniel Vettori (3-30) were the within the first five overs, both Pakistan tail wagged adding 51 stars of the show. falling to Umar Gul. Reece runs for the 10th wicket. New Zealand XI then batted Young, who is set to make his Skipper Misbahul-Haq man- for 32 overs in their second test debut on Friday, finished aged to score 126 not out. Tim innings reaching 111 for four on 19 not out..-Online WELLINGTON: Kiwi fast bowler Daryl Tuffey has been included in the squad for the twomatch Test series against Pakistan, starting Friday. He takes the place of Wellington fast bowler Andy McKay, who hasn't fully recovered from a side strain. Tuffey played the last of his 26 Tests during the home series against Australia last March. He has played only four Tests in the last six-and-a-half years but is a more regular member of New LAHORE: Pakistan Football another landmark under pres- special player, greatly respon- Zealand's one-day side. Tuffey Federation (PFF) will organise ent PFF set-up, the first of its sible for the morale of the had missed much of the one-day the first-ever AFC Level 1 kind to be organised by PFF in team, especially the defenders. series against India last month Goalkeeping Coaching Course collaboration with the AFC If the defenders know that a due to a bicep strain. from March 10-15 here. and with the support of the reliable keeper is behind them, New Zealand's fast bowling then they can concentrate on department has been hit hard by Goalkeeping coaches will be FIFA. "Goalkeepers are always the their game. Otherwise, the injuries in recent times. Hamish trained to imbibe specialised skills for their trade. This forgotten group and are only central defenders and full Bennett, who impressed with his course covers more aspects of remembered after a goal is backs will have a tough time, pace on Test debut against India in football as goalkeepers are of conceded. But still goalkeep- because they need to worry early November, suffered a groin great importance for the out- ers are one of the most impor- about their keeper making strain in that match and hasn't come of the game. Coaches for tant players on the field and mistakes as well as dealing played high-level cricket since. this specialist course must they are the last line of defence with oncoming opponents." McKay is back to bowling, but have at least the AFC C- and the first line of attack. To Nearly twenty participants isn't fit enough for the sustained Coaching Certificate and must play the position well requires have to successfully complete spells required in Test matches. continue their work at this special skills and training and I a six-day course to obtain the The other fast bowlers in the chosen field of football. The am really happy and thrilled coaching qualification. The New Zealand Test squad, which beneficial activity is designed with several keepers who participants will attend theory was announced two weeks ago, to deliver theoretical and prac- showed guts and spectacular lessons on different aspects of are Chris Martin, Tim Southee, tical modules in order to saves in the recently conclud- coaching goalkeepers as well Brent Arnel.-Online improve the overall standards ed Pakistan Premier League as gain practical coaching of the game. The Asian and PFF League", said experience by working on Football Confederation (AFC) President PFF Faisal Saleh selected aspects of the goalLevel 1 Goalkeeping Hayat here on Tuesday. He keeper's game during the pracCoaching Course will be added: "The goalkeeper is a tical sessions.-APP

Pak-NZ XI bout ends in stalemate

Injured McKay makes way for Tuffey

PFF goalkeeping training course set for March

on their any hand in any matchfixing scams. "The names of Shoaib and Kaneria were not cleared by ICC therefore PCB followed their instructions and did not include them in the list of probable players whereas Kamran was cleared to resume his international career ", said sources in PCB while talking to APP here. The integrity committee took almost 20 days to announce the probable players after holding different sessions in which all three tainted players were interrogated about their property. "One thing was very obvious that both of them could not satisfy the integrity committee whose proceedings of the case were conducted secretly," added the sources. However, no PCB official was ready to speak on the decision about the exclusion of these players. Also missing from the list are opener Imran Farhat and all-rounder Fawad Alam. A PCB statement said: "The National Selection Committee

met today at Gaddafi Stadium and finalised for World Cup 2011 after thorough deliberations. The players are, Opening Batsmen: Muhammad Hafeez, Ahmed Shahzad, Taufique Umer, Nasir Jamshed. Middle Order Batsmen: Mohammad Yousuf,Younis Khan,Misbah ul Haq,Umar Akmal,Azhar Ali,Asad Shafiq, Naveed Yasin. Wicket Keepers: Kamran Akmal, Sarfraz Ahmed, Salman Ahmed. All-Rounders: Shahid Afridi, Abdul Razzaq, Yasir Arafat, Rana Naveed. Spin Bowlers: Abdul Rehman, Saeed Ajmal, Yasir Shah, Zulfiqar Babar. Fast Bowlers: Shoaib Akhtar, Umar Gul, Wahab Riaz, Sohail Tanveer, Tanvir Ahmed, Junaid Khan, Aizaz Cheema, Asad Ali. However, commenting on the selection, Chairman National Selection Committee; Mohsin Khan says he is satisfied with the preliminary squad and urged the entire nation to back the decisions made by PCB.-APP

Tainted trio set to face ICC tribunal DOHA: Three Pakistan Test cricketers suspended over allegations of spot-fixing left Tuesday for Qatar to appear at an international tribunal that could ban them from the game. An International Cricket Council (ICC) anticorruption tribunal headed by Michael Beloff QC will hear the case in Doha from January 6-11. The two other members of the tribunal are Albie Sachs of South Africa and Sharad Rao of Kenya. Former Test captain Salman Butt, and bowlers Mohammad Asif and Mohammad Aamer, were suspended by the ICC in September following spotfixing allegations against them during the Lord's Test against England a month earlier. The suspension followed a sting operation by Britain's News of the World claiming that several Pakistani players took money from a bookmaker to bowl deliberate noballs and bat maiden overs. Salman and Aamer had their

appeals against suspension rejected in October, while Asif withdrew an initial appeal. Salman's appeal to postpone the hearing was also rejected last month. Salman is represented by British-based lawyer Yasin Patel and Asif by Allan Cameron, brother of British Prime Minister David Cameron, while Aamer's lawyer is Shahid Karim from Pakistan. Talking to reporters at Lahore airport, Aamer said his priority was to clear his name. "My lawyer has prepared the case extensively and I hope that I will be cleared," said Aamer, who is accused of delivering deliberate no-balls during the Lord's Test for money - a charge he has denied. "This is the toughest period of my life but I am confident that it will be over and I will be playing for Pakistan soon," said Aamer. Punishments the players face range from a five-year suspension to life bans.Online

Steyn, Tendulkar star on intense day South Africa 362 and 52 for 2 lead India 364 by 50 runs CAPE TOWN: On the third day of the deciding Test in Newlands, the world's best fast bowler terrorised the batsmen of the No. 1 team during frightening spells of accurate outswing bowled at high speed. Most did not survive the menacing attack, but the best batsman in the world did, and he dragged his team forward through the harshest of circumstances. The battle between Dale Steyn, oozing aggression every ball, and Sachin Tendulkar,

who was probably beaten more times today than any other day, and yet remained steadfast, was worth travelling unreasonable distances to see. Both champions were winners, for Steyn ripped out five in the innings, while Tendulkar fought hard for his 51st century. Their efforts left the contest even - India lead's was merely 2 - and ensured that the series would be decided by a second-innings shootout under the Table Mountain. The absence of the same

degree of pace, swing, seam movement and hostility when India's fast bowlers attacked South Africa's batsmen only increased awe for Steyn's scarcely believable effort. Graeme Smith and Alviro Petersen made a promising start to the chase, adding 50 runs for the first wicket. It was only when Harbhajan Singh, fizzing the ball off a wearing pitch, struck twice towards the close that India once again brought the game into balance.-Cricinfo

CAPE TOWN: Tendulkar plays a shot during the third day of their third cricket test match against South Africa.-Reuters


cold US factory orders German spell spurs surprise rise rebound, brighten in jobless growth view WASHINGTON: New orders received by U.S. factories unexpectedly rose in November, and orders excluding transportation recorded their largest gain in eight months, providing more signs the economic recovery was on sustainable path. The Commerce Department said on Tuesday orders for manufactured goods increased 0.7 percent after dropping a revised 0.7 percent in October. Economists polled by Reuters had forecast factory orders slipping 0.1 percent in November from a previously reported 0.9 percent decline in October. Orders have risen in four of the last five months. Manufacturing has been the star performer during the recovery from the worst recession since the 1930s and continues to expand. Factories appear to be ramping up activity to meet a pickup in demand

from consumers and businesses. Analysts have forecast economic growth at an annual pace of between 3 percent and 3.5 percent in the fourth quarter after a 2.6 percent expansion in the third quarter. U.S. financial markets had little reaction to the data. U.S. stocks were little changed as optimism over the economic outlook was offset by a decline in consumer stocks. U.S. Treasury debt prices edged higher The euro climbed to a three-week high against the dollar. On Monday the Institute for Supply Management said its index of national factory activity climbed to a seven-month high in December, hoisted by sturdy gains in new orders and production. The Commerce Department report showed orders excluding transportation increased

2.4 percent in November, the highest since March, after a 0.1 percent gain the prior month. Unfilled orders at U.S. factories increased 0.6 percent in November after rising 0.7 percent the prior month. Shipments increased 0.8 percent, rising for a third consecutive month, while inventories gained 0.8 percent after rising 1.1 percent in October. The department revised durable goods orders for November to show a much smaller 0.3 percent fall rather than the previously reported 1.3 drop. Excluding transportation, orders for durable goods increased a bigger 3.6 percent in November instead of 2.4 percent. Orders for non-defense capital goods excluding aircraft, seen as a measure of business confidence, increased 2.6 percent after 3.2 percent decline in October.-Reuters

Euro zone inflation rose above ECB target in December BRUSSELS: Euro zone inflation was higher than expected in December, exceeding the European Central Bank's target for the first time in two years, but economists believe the bank will keep interest rates unchanged well into 2011. The European Union's statistics office Eurostat estimated that prices in the 16 countries that shared the euro currency in December rose 2.2 percent year-on-year, up from 1.9 percent in November. It was highest year-on-year rate since October 2008, when it came in at 3.2 percent. Economists polled by Reuters had expected inflation of 2.0 percent. The ECB wants to keep price growth at just below 2 percent. Eurostat does not provide a monthly figure or a detailed breakdown with its estimate, which will come on Jan. 14. But economists said the rise in inflation was mainly due to

energy and food price rises. BNP Paribas economist Clemente de Lucia, said that between December and November oil prices rose by around 7 euros per barrel, the strongest monthly increase in more than two years. Year-on-year oil prices were up by more than 18 euros, which probably boosted energy prices by around 10 percent year-on-year, de Lucia said. "This commodity-price driven rise in inflation will only have implications for ECB policy if the central bank were to see second round effects emerging, in terms of knockon effects on other prices or rising inflation expectations," said Nick Kounis, head of macroeconomic research at ABN AMRO bank. "That only seems likely if we were to see a long period of high inflation, but on the basis of current levels of commodity prices, we think that inflation

will ease back down again during the course of this year," Kounis said. In November it was more expensive energy, especially fuels for transport, heating oil and gas, that was the main driver of inflation. But economists said that excluding price-driving effects of the tax hikes implemented in many countries, the inflation rate would have been some tenths lower. Further adjusted for volatile energy prices, the underlying inflation would be no more than around 1 percent, they said. "There is no need for monetary policy to act, with underlying inflation still at 1 percent. We continue to expect the ECB to start hiking rates only in 2012," said Christoph Weil, economist at Commerzbank. But other economists said the ECB could raise the costs of borrowing earlier.-Reuters

NUREMBERG: German unemployment rose unexpectedly in December due to the earlier onset of winter but economists said the underlying trend in the labour market was still positive and would support Europe's largest economy. Freezing temperatures and snow storms sent more construction workers to the unemployment line than usual, interrupting 17 straight months of declining joblessness stretching back to July 2009, the Federal Labour Office said on Tuesday. This triggered a rise in unemployment of 3,000 in December over the previous month to a seasonally adjusted 3.15 million, leaving the unemployment rate unchanged at 7.5 percent. Although economists had on average expected joblessness to decline by 10,000 last month, they said the weather would only temporarily interrupt ongoing robust job creation. "December was unusually cold and snowy and without this bad weather unemployment would certainly have fallen again. The seasonal adjustment could not completely make up for that," said Rainer Sartoris of HSBC Trinkaus. "So there is no reason to believe the upswing in the job market has come to an end. On the contrary, polls of industry and service companies point to sustained staff increases." A corporate survey published on Monday showed German manufacturers boosted their workforces in December at the fastest rate in at least 14 years to ease capacity bottlenecks. An improvement in the job market is a key element of economists' forecasts for further brisk expansion this year in Germany, as rising gross domestic wages fuel household consumption and boost tax revenue. The ailing euro-zone economy may end up depending more than ever this year on Germany's growth engine as austerity measures from Ireland to Spain take their toll on output and further depress activity. Berlin even hopes to be able to eventually offer a job to everyone who wants to work. "In light of strong economic activity the labour market will continue to improve in the new year (and) the foundation for a sustainable growth has been laid. The goal of full employment is again within reach," said Economy Minister Rainer Bruederle.-Reuters

CONTINUATION No #1

Continued from page 12

My thoughts also go to innumerable Party workers who paid with their lives and liberty and endured torture and to keep the name of Bhutto and Bhuttoism alive. The Party will observe this birth anniversary with due solemnity in view of the tragic assassination of Governor Salman Taseer. The Party will observe a fifteen day mourning period.-NNI

No #2

Continued from page 12

Due to increase in petroleum prices, increased General Sales Tax, other taxes would also be imposed on citizens, which would be contrary to Article 77 of Constitution, because without imposition of GST, other taxes on increased prices, oil companies cannot sell petroleum products as same this is illegal and violation of Constitution. He prayed to order respondents to table in Parliament formula for increasing/ decreasing in petroleum products prices. It was urged to declare hike in POL products prices unjust, illegal and violation of Article 77 read with articles 4, 5, 9, 14, 18 and 25 of Constitution. He also requested formula made by Ogra or approval of summary by government about increase in petroleum products be declared against mandate of people. -Agencies

No #3

Continued from page 12

was their own decision, he underlined. Chaudhry Pervez Elahi said PML-N should bring no trust move against the prime minister, as 68 legislators were required to pilot no confidence movement while PML-Q had only 50 members. PML-N should table no trust move first and then PML-Q would decide to support it, he maintained. PML-N describes federal government corrupt then as to why it does not separate PPP from Punjab cabinet, he questioned. -Online

11 UK economy data boosts start of tough 2011

International & Continuation

Wednesday, January 5, 2011

has once again created worries among security and even Army personnel as to how to ensure a secure protocol for governmental officials. Sources informed that officials are mulling and wondering besides investigating as to how the security guard responsible for assassination of Governor, ever made it to the elite police circles, and also as to how was he appointed over close security of Governor, while ignoring SOP (standard operative procedures). Sources have also informed that before appointing elite guards for VIP personnel, they have to undergo a massive check system, which also included complete scrutiny of their background. After this assassination, the security and Army personnel have decided to review the security procedures anew, for which a formal approval would be taken in a high level meeting to be held soon. -Online

No #7

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country. According to a statement issued from the Abu Dhabi Secretariat, former President Pervez Musharraf was of the view that it is the loss for the whole country. He was a seasoned politician and always worked for betterment of the country, he added. Musharraf further said that it seemed that the current government has failed to cope with terrorism from the country. He also expressed grief and sorrow with the family of Salman Taseer.

No #8

Continued from page 1

degree in Chartered Accountancy from London. He was the son of Muhammad Din Taseer, popularly known as MD Taseer, who was the first PhD degree holder in the sub-continent. Taseer started his political career as a student, and became member of Pakistan Peoples Party (PPP) soon after the party was founded by Zulfiqar Ali Bhutto on November 30, 1967. Salman remained as PPP Information Secretary and won the MPA seat in Punjab on Pakistan Peoples Party ticket in 1988 and remained as Deputy Opposition Continued from page 12 No #4 Leader in the Punjab Assembly. Taseer also served as a minister for broadcast live on state television. The "previous path (of con- commerce and industry in the caretaker cabinet of former Prime fronting Tehran) will have no result but defeat," the president said, Minister Muhammad Mian Soomro in 2007-08.-Agencies adding that the West must respect the rights of other countries. Continued from page 1 No #9 Ahmadinejad and other Iranian officials have maintained that purPakistan." "I am deeply saddened by the assassination of suing nuclear technology is the Islamic republic's "inalienable right." The United States has also not ruled out a military strike to Governor Taseer. On behalf of the United States, I offer my constop Iran's growing nuclear programme under Ahmadinejad, and dolences to his wife and children," Munter added. -APP Tehran has been slapped with four sets of UN sanctions. -Reuters Continued from page 1 No #10 He said that the Governor had described the blasphemy law as Continued from page 12 No #5 He said due to wrong policies of government, industrial sector 'Black Law' due to which he killed the governor and he has no is facing survival problem and many industries already closed remorse or guilt as he has killed a 'blasphemer'. The guards told Mumtaz Qadri was not a permanent elite guard down and volume of non-performing loans gone up to Rs500 bilof the Governor and he had recently been inducted in the squad and lion. -Agencies belonged to Rawalpindi. The guards said that whenever Governor Continued from page 1 No #6 used to come to Islamabad he used to change some members of the regarding maintaining any fool-proof security for the governmen- security guard. They said that they can't believe Mumtaz Qadri was tal officials. The murder of Salman Taseer on Tuesday afternoon capable of such an act as he was a religious person. The Elite Force

LONDON: Britain's factory activity grew at its fastest pace in 16 years at the end of 2010 and mortgage approvals rose, data showed on Tuesday, but tax rises and public spending cuts will provide stiff headwinds in 2011. The Markit/CIPS manufacturing Purchasing Managers' Index rose to 58.3 in December from November's 57.0, well above expectations and its best reading since September 1994. Separate figures from the Bank of England showed mortgage approvals rose in November to their highest since July, easing fears of further steep declines in house prices. The figures will be welcomed by the government which is hoping the private sector will be able to expand to fill some of the space left by its pruning of the state sector - the biggest budget cutbacks in a generation. However, some of the detail was less encouraging. Consumer lending and money supply growth both weakened in November, and the robust expansion in the manufacturing sector was coupled with an unprecedented rise in firms' costs -- the latter a particular worry when inflation is already well above target. "It is vitally important that the UK economy is on as firm a footing as possible as the fiscal tightening really starts to bite from early-2011, beginning with the VAT hike," said

Howard Archer at IHS Global Insight. "The only real blot on the (purchasing) survey was the record rise in input prices." The Conservative-led coalition government, which took office last May, plans to cut the budgets of most government departments by just under a fifth over the next four years. It is hoping its tough fiscal stance will be offset by loose monetary policy. But the recent strength of inflation has fanned debate about how long the BoE can keep interest rates at a record 0.5 percent without losing credibility. Inflation rose to a six-month high of 3.3 percent in November and may rise above 4 percent in the first few months of this year, double the BoE's 2 target. Adding to upward price pressure will be the rise in VAT sales tax -- from 17.5 percent to 20 percent -- which came into force on Tuesday. Finance minister George Osborne said increasing VAT posed less of a risk to the broader economy than increasing income tax or other payroll taxes. However, calculations from the government's own fiscal watchdog show the measure alone will shave 0.3 percent off economic output in 2011/2012. "Clearly there will have been some shuffling of consumer spending into December last year and away from the early months of 2011 as consumers

tried to beat the hike," said David Tinsley, UK economist at National Australia Bank. Even if growth slows sharply, the BoE's ability to respond with further stimulus is limited. A Citi/Yougov survey on Tuesday showed British public inflation expectations rose to 3.5 percent in December, its highest level in more than two years. Money markets, which as recently as November were pricing in a 50:50 chance of more quantitative easing, have swung to pricing in a UK rate rise in the second half of 2011. Tuesday's manufacturing survey will be followed by construction data on Wednesday and a service sector data on Thursday, both of which will shape expectations for UK fourth-quarter GDP data, due Jan. 25. A recent Reuters poll shows economists expect fourthquarter growth to come in at 0.5 percent, a respectable outturn but weaker than the 0.6 percent registered in the third quarter and the 1.2 percent registered in the second. Overall, they expected the recovery to slip down a gear at the start of 2011, with growth forecast at just 0.3 percent for each of the first two quarters. "Broad money growth is still heading in the wrong direction. Bank lending remains weak too, and we continue to expect relatively tight credit conditions to act as a brake," said Vicky Redwood at Capital Economics.-Reuters

is used in a range of special operations including "high-risk searches, raids and rescue operations." President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani has strongly condemned the assassination of Governor Punjab Salman Taseer on Tuesday afternoon and directed the Interior Minister Rahman Malik to personally supervise the investigations and report to him urgently. The President was informed about the tragic assassination during a meeting with the Members of the Provincial Assembly of the PPP belonging to Sukkur, Jacobabad, Shikarpur and Gotki in the Bilawal House. Describing the crime as 'most ghastly' the President said that no words were strong enough to condemn it. The perpetrators of this heinous crime must be punished, he said adding also, "they will be punished." Paying tributes the President said that Salman Taseer was endowed with great courage and energy employed these qualities in the service of the province and the country. He faced the vicissitudes of life with composure, resilience and courage, the President said. The President also prayed to Allah to rest the departed soul in peace and give courage to members of the bereaved family to bear the loss with fortitude. Prime Minister Gilani said in a statement he "strongly condemned" the incident. The Pakistan People's Party said it would observe two weeks of mourning over Taseer's death A witness at the scene said Taseer was stepping out of his car at a shopping area when he was shot."The governor fell down and the man who fired at him threw down his gun and raised both hands," said the witness, Ali Imran. Meanwhile, Prime Minister Gilani announced three-day mourning, while national flag will remain at half-mast in the wake of assassination of Governor Punjab Salman Taseer.

No #11

Continued from page 1

industry. It was also decided in the meeting that the import of 0.225 million tonnes of urea would be fasttracked to ensure availability of urea in the market at reasonable price. The price of urea in the international market was $ 376 FOB that translated into around Rs2012 per 50 kg bag. The offtake of urea during the last two months has been more than normal which gave a signal of hoarding. The Provincial governments were directed to take appropriate legal action against hoarders. -Agencies

No #12

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year, Rs305 billion is due to government borrowing from the SBP, which has been on an increasing trend since September 2010. Such borrowing has stoked expectations of increasing inflation. Furthermore, higher Net Domestic Assets (NDA) to Net Foreign Assets (NFA) ratio and its strong association with CPI inflation also suggest that the inflation is likely to persist at double digit levels during FY11 i.e. full year CPI expectation of 15.5 per cent. Furthermore, delay in implementation of RGST and uncertainty in timing of foreign inflows may force SBP to increase discount rate by 50bps to 14.5 per cent.

No #13

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security situation in the region. Sources added that during his stay Pakistani leadership would again comment on unremitting drone attacks in the country, war against terrorism, needs of Pakistan besides political turmoil that has heated up the country in frosty conditions in Pakistan since last few days. -Agencies

No #14

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Sarwar Korai, Justice Aqeel Ahmed Abbasi, Justice Irfan Sadat Khan, Justice Tufail H Ibrahim and Justice Muneeb Akhtar. According to notification all judges would be working to till September 25, 2011, however decision regarding Justice Ahmad Sheikh's extension would be taken in next meeting of SJC. -Agencies

No #15

Continued from page 1

Government will have to implement the short agenda within 45 days till 20th February and show progress not to PML-N but to the people of Pakistan. PML-N Quaid said if Government fail to accept the agenda or implement it, the PML-N would talk with other opposition parties if they can implement this agenda. He said the PML-N will support them for the implementation of the agenda. He said if the Government agreed to their demand, a committee of PML-N would be formed in the next few days to assist the Government. Replying to questions, Mian Nawaz Sharif ruled out the possibility of PML-N taking over the government. He said either the agenda be implemented by the PPP Government or other opposition parties and if they fail to do so, the only option is to go to the masses for a fresh mandate. About JUI-F and MQM parting ways with the Government, Mian Nawaz Sharif said they are now demanding to sit on the opposition benches which the PML-N is doing for the last two and a half years. He said their view point is not clear as one party is demanding resignation of the Prime Minister and has no objection on the way of working of the President and the governance of PPP. The other party has no plan to dislodge the government. They want to sit on opposition benches to oppose some policies and support others. -Agencies

No #16

Continued from page 5

exporters' shares in the long run. Trading volume picked up from year-end lows, with a total of 1.6 billion shares changing hands on the Tokyo Stock Exchange's first section, above its previous week's average of 1.28 billion shares.-Reuters

No #17

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Meanwhile China's factory inflation cooled in December, while manufacturing in Europe accelerated. Buyers came in for the banks, as worries over euro zone sovereign debt faded further into the background, with Barclays adding 4.2 per cent and Royal Bank of Scotland up 4.1 per cent. An Exane BNP Paribas upgrade to "outperform" also helped RBS, with the broker saying a sharp sell-off on the bank's exposure to debt-hit Ireland presents a buying opportunity. Among individual blue-chip gainers, Carnival Corp took on 3.8 per cent after being upgraded to "buy" from "hold" by Deutsche Bank with an increased target of 3,700 pence. The main losers were stocks seen as defensive. Food producer AB Foods was down 1.4 per cent, while utility International Power slipped 1.5 per cent.-Reuters


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Gilani sees no threat to govt Says ‘Q’ assures support to government

ISLAMABAD: Former Prime Minister and Quaid PML (N) Mian Nawaz Sharif addresses a press conference at Punjab House.-Online

Challenges to be handled thru dialogue, negotiation: President

Zardari rolls up sleeves to end political conflicts ISLAMABAD: PPP CoChairman and President Asif Ali Zardari said that the challenges of coalition politics will be handled with a sense of maturity through dialogue and negotiations. While paying tribute Shaheed Zulfikar Ali Bhutto on his 83 birth anniversary, President Zardari said "Shaheed Zulfikar Ali Bhutto has taught us how to resolve complex political issues through dialogue" he said in a message on the 83rd birth anniversary of Shaheed Zulfikar Ali Bhutto Wednesday

Cotecna Reference

Former FBR head indicted RAWALPINDI: Syed Najmul Hassan Bokhari of Accountability Court Rawalpindi has indicted former chairman CBR (currently FBR) AR Siddiqui, who is designated as co-accused with President Asif Ali Zardari in Cotecna Reference. AR Siddiqui appeared in the court along with his counsel Tuesday. Additional Prosecutor General Akbar Tarar appeared on behalf of prosecution while special public prosecutor Arif Ali Chauhan represented NAB in the court. AR Siddiqui has refused to admit the allegations leveled against him in the reference. The court has issued summons of prosecution witnesses directing them to appear on the next hearing. Counsels for NAB have been directed to ensure presence of the witnesses so that their statements could be recorded. As many as 7 foreign directors are also accused in this case. -Online

adding, "through dialogue we will also find a solution to the political challenges faced by the coalition." It was through dialogue that Shaheed Bhutto recovered the territory lost in the 1971 war, brought back ninety thousand prisoners of war and prevented the war trials of our military officers to protect the name and honor of the country, he said. "Inspired by our great leaders we also employed dialogue for chasing a dictator out from the Presidency. Through dialogue and consensus the unde-

mocratic Articles introduced into the 1973 Constitution have been removed and the democratic Constitution restored" he said. The Quaid-e-Awam Shaheed Zulfikar Ali Bhutto responded to the political challenges of his time by awakening the people and giving them voice which no dictatorship has been able to stifle. Using the tools of dialogue we will face all political challenges in a way that will further strengthen democracy and democratic institutions, the

President said in his message. On this birthday of our Shaheed Chairman our heads bow in gratitude that we have restored in a large measure the original Constitution given to the nation under his leadership in 1973, President Zardari said. On this occasion I urge the valiant Party workers to rededicate themselves to the ideals of Bhutto and loudly proclaim to the world that Bhutto still lives in the hearts and minds of the people and, from his grave, haunts the enemies of democracy. See # 1 Page 11

Iran opens N-sites to world powers TEHRAN: Iran is to open its atomic sites to some world powers, officials announced on Tuesday, as President Mahmoud Ahmadinejad insisted the West was wrong to confront Tehran over its nuclear programme. Invitations to visit Iran's nuclear sites in central cities of Natanz and Arak have been sent out to ambassadors of some of the nations represented in the UN atomic watchdog, foreign ministry spokesman Ramin Mehmanparast said. The rare move comes as Tehran works to garner support for its atomic drive in the runup to talks with six world powers in Turkey at the end of January. "The representatives of some European Union countries, NAM (Non-Aligned Movement) and some representatives of the five-plus-one (six world powers) have been invited to visit our nuclear sites," Mehmanparast told a news conference. But diplomatic sources at the

International Atomic Energy Agency (IAEA) in Vienna said invitations have gone only to Russia and China, while the United States, Britain, France and Germany were not among the invited world powers. The invitees also included Hungary as rotating president of the European Union, Egypt and Cuba, they said. Mehmanparast said the invitation was part of the Islamic republic's attempt to demonstrate "cooperation with the IAEA" and showed "the goodwill of our country and the peaceful and cooperative nature of our (nuclear) activities." ISNA news agency cited Iran's envoy to the IAEA, Ali Asgar Soltanieh, as saying the visit was scheduled for January 15-16 and would be to the country's main uranium enrichment plant at Natanz and the heavy water facility at Arak. "This invitation is within the framework of Iran's transparent nuclear policy," Soltanieh said. Such visits to Iran's atomic facilities are rare and the last

trip which Tehran arranged for members of the IAEA, the UN nuclear watchdog, dates back to February 2007. The proposed new visit to nuclear facilities, Mehmanparast said, "will take place before the Istanbul meeting," for which a final date has yet to be fixed. China, a close ally and economic partner of Iran, confirmed it was among those invited to visit the atomic sites. "China has received the invitation from the Iran side and will maintain communication with Iran on this," Chinese foreign ministry spokesman Hong Lei said, without giving details. Ahmadinejad was adamant on Tuesday that the West had made a mistake by confronting Iran over its atomic programme. "You should accept that you have made mistakes. You should accept that you chose the wrong path," the hardliner said in a speech in his hometown of Semnan that was See # 4 Page 11

improve law and order situation. He further said we are trying to remove all reservations of JUI-F and MQM and added that Fazl-urRehman left coalition because of dismissing Azam Swati whereas MQM holds reservations with Home Minister Sindh Zulfiqar Ali Mirza. It has also been learnt that during his stay in Bhera, member of PML-N's central committee Barrister Pir Farooq Bahadur-ul-Haq Shah met PM Gilani and extended a special message.-Agencies

BHERA: Prime Minister Syed Yousuf Raza Gilani has reiterated that government is not facing any threats and rather will complete its constitutional term. He was talking to media at Bhera Services Area while commuting between Lahore and Islamabad via motorway on Tuesday. During the course of his conversation, he said that PPP is a national party and it will complete its term. Time demands from all political parties who believe in democracy to collectively solve the

crises. PM also said country is facing terrorism threats other than inflation and unemployment that we received in inheritance. He said finance ministry is briefing leaders of all parliamentary parties related to recent increase in petrol prices. He said terrorism and floods are among the other contributors to inflation, which we are trying to cope with. While responding to a question, PM said Ch. Shujaat Hussain has ensured him to support government for the eradication of inflation and to

Holbrooke's last rites

Petition filed in SHC against POL price hike

President leaves for US on 12th

Respondents put on notice

ISLAMABAD: President Asif Ali Zardari will visit the United States next week on January 12. Diplomatic sources confirmed that President Zardari is scheduled to attend the memorial of Richard Holbrooke, who was the US special representative to Afghanistan and Pakistan until his sudden death last month. During his visit he would meet US Secretary of State Hillary Clinton, sources say. "The president will visit the US from January 12. This visit is primarily for the memorial service of Richard Holbrooke but the president will also have meetings with US officials," said foreign ministry spokesman Abdul Basit. -Online

MQM moves Sindh House against POL price hike KARACHI: Muttahida Qaumi Movement (MQM) has tabled adjournment motion against inflation and hike in petroleum prices, in Sindh Assembly here on Tuesday. As per details, three MQM members of provincial assembly tabled adjournment motion in assembly secretariat, against inflation and hike in petroleum prices. There is possibility that the adjournment motion would be discussed and MQM would walkout from Sindh Assembly's meeting going to be held on 7th January. Agencies

KARACHI: Sindh High Court Tuesday put on notice secretaries of Law, Justice & Parliamentary Affairs and Finance Ministries & Chairman Ogra on petition challenging recent 9 per cent hike in prices of petroleum products. A division bench, comprising Chief Justice Sarmad Jalal Osmany & Justice Munib Akhtar also issued notice to Deputy Attorney General to file comments on behalf of respondents till January 18, 2011. Petitioner Advocate Maulvi Iqbal Haider impleaded Secretary Law, Justice & Parliamentary Affairs Ministry, Secretary Finance Ministry & Chairman Ogra as respondents. He submitted 9 per cent increase in prices of petroleum products by Ogra through notification on December 31, 2010 was unjust and unfair.

He stated anti-people policies of government made lives of citizens miserable & government was looting public by levying taxes & hiking petroleum products prices without justified criteria. He contended through impugned notification, petrol price increased by Rs 6.71 per litre from Rs72.96 to Rs79.67 (9.2 percent), HOBC price by Rs7.69 from Rs86.67 to Rs94.36, Kerosene oil price by Rs4.4 per litre from Rs70.95 to Rs74.99 (5.7 per cent) & High Speed Diesel price by Rs4.25 per litre from Rs78.33 to Rs82.58. Resultantly, inflated prices will push up inflation & impact on industrial production, which was already under pressure because of higher electricity, gas rates & energy shortfalls. See # 2 Page 11

‘Q’ says ‘N’ won’t move against PM ISLAMABAD: PML-Q President Chaudhry Shujaat Hussain has said PML-N will not table no-confidence movement against federal government to save its government in Punjab. Shujaat said this while addressing a press conference along with Chaudhry Pervez Elahi and others after PML-Q parliamentary party meeting here Tuesday. "I want to make it clear we are in opposition and will continue to play the role of opposition", he remarked. Shujaat told Gilani had come to us a day before and we dis-

cussed at length the problems facing the common man. It was made clear on the prime minister PML-Q had no personal difference with him but his party was concerned with the poor performance of the government, he added. Government should address all the problems including unemployment and inflation and then talk to PMLQ. He told a delegation of PMLQ led by Faisal Saleh Hayat would meet prime minister. MQM did not take decision to join opposition benches in consultation with PML-Q but it See # 3 Page 11

TDAP awaits Rs7bn funds KARACHI: Trade Development Authority of Pakistan TDAP is awaiting Rs7 billion funds from Export Development Surcharge EDS by Ministry of Finance to carry out its export-oriented plans and release subsidies to exporters, said Chief Executive, TDAP, Tariq Iqbal Puri. Addressing luncheon meeting Tuesday at Korangi Association of Trade & Industry KATI, he said Pakistan would cross $20 billion export target this fiscal year. He said TDAP is planning to take part in 80 international exhibitions abroad of which 25 will be in China, which has offered free stalls in some of these. China would be focus country for TDAP during 2011 as its market is much lucrative than other countries. Pakistan's home textile and other items have big potential of export. He said it was being considered to split Expo Pakistan exhibition into 5 to 7 sectoral exhibitions this year and proposals

are being invited from trade bodies. "We plan to carry out assistance and funding plan to non-traditional items' manufacturers with USAID financial assistance." He assured KATI's proposed trade, export delegation abroad will be sponsored by TDAP. Patron In-chief, KATI, S M Muneer asked TDAP to release millions of rupees of exporters stuck up with TDAP against subsidies and reconstitute its board of directors with inclusion of prominent figures from private sector. He said government has no sense of direction and running economy by increasing POL, utilities prices, increasing mark up rates. Chairman, KATI, Syed Johar Ali Qandhari asked TDAP to declare year 2011 as "Export Year" and devise a comprehensive plan with trade bodies to boost exports. See # 5 Page 11

Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.


The Financial Daily-Epaper-05-01-2011  

The Financial Daily Epaper

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