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International Karachi, Thursday, March 31, 2011, Rabi-us-Sani 25, Price Rs12 Pages 12

Kazmi jailed on judicial remand See Page 12 Economic Indicators Forex Reserves (19-Mar-11) Inflation CPI% (Jul 10-Feb 11) Exports (Jul 10-Feb 11) Imports (Jul 10-Feb 11) Trade Balance (Jul 10-Feb 11) Current A/C (Jul 10- Feb 11) Remittances (Jul 10 - Feb 11) Foreign Invest (Jul 10-Feb 11) Revenue (Jul 10 Feb 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Feb 11) LSM Growth (Jan 11)

GDP Growth FY10E Per Capita Income FY10 Population

$17.50bn 14.33% $15.33bn $25.60bn $(10.27)bn $(98)mn $6.96bn $1.23bn Rs 875bn $58.39bn Rs 5497.4bn $386.3mn 0.83% 4.10% $1,051 175.59mn

Portfolio Investment SCRA(U.S $ in million)

174.28 -21.67 0.46 2756

Yearly(Jul, 2010 up to 29-Mar-2011) Monthly(Mar, 2011 up to29-Mar-2011) Daily (29-Mar-2011) Total Portfolio Invest (19-Mar-2011)

NCCPL (U.S $ in million)

FIPI (30-Mar-2011) Local Companies (30-Mar-2011) Banks / DFI (30-Mar-2011) Mutual Funds (30-Mar-2011) NBFC (30-Mar-2011) Local Investors (30-Mar-2011) Other Organization (30-Mar-2011)

0.24 0.08 0.49 2.68 -0.29 -3.13 -0.06

Global Indices Index Close KSE 100 11,808.61 Nikkei 225 9,708.79 Hang Seng 23,451.43 Sensex 30 19,290.18 ADX 2,632.92 SSE COMP. 2,955.77 FTSE 100 5,962.12 *Dow Jones 12,279.01

Change 97.21 249.71 391.07 169.38 1.77 2.31 29.95 81.13

13.39% 13.69% 13.86% 14.00% 13.59% 13.52% 13.72% 14.12% 14.23% 13.97% 14.01% 14.07% 14.42% 14.65% 14.87%

Commodities *Crude Oil (brent)$/bbl 115.27 *Crude Oil (WTI)$/bbl 104.70 *Cotton $/lb 194.96 *Gold $/ozs 1,429.70 *Silver $/ozs 37.69 Malaysian Palm $ 1,074 GOLD (NCEL) PKR 38,936 KHI Cotton 40Kg PKR 13,396 Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 87.50 Canadian $ 87.05 Danish Krone 16.40 Euro 119.40 Hong Kong $ 10.50 Japanese Yen 1.040 Saudi Riyal 22.62 Singapore $ 67.00 Swedish Korona 13.70 Swiss Franc 93.20 U.A.E Dirham 23.15 UK Pound 135.80 US $ 85.15

88.50 88.05 16.60 120.80 11.00 1.066 22.80 68.00 14.00 94.20 23.35 137.80 85.50

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

87.27 87.22 16.09 119.99 10.92 1.042 22.72 67.45 13.34 92.99 23.20 136.35 85.19

87.47 87.42 16.13 120.27 10.95 1.045 22.77 67.61 13.37 93.21 23.25 136.67 85.38

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

32°C 36°C 37°C 35°C 25°C 33°C

MIN

17°C 23°C 20°C 21°C 10°C 17°C

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See Page 12

l Gilani terms talks positive l Singh says wanted permanent ties l Sonia, Singh invited to Isb l India reaches WC final, beat Pak by 29 runs l Afridi says 'sorry' to nation

MOHALI: Though Pakistan cricket team lost its crucial match to India in the World Cup semifinal Wednesday by 29 runs, but on the political front Prime Minister Gilani is said to have gained with his India visit, as it proved a thaw in Indo-Pak frozen relations. According to the media, Prime Minister Gilani termed his talks with Indian counterpart as positive and said they talked about the core issues between the two nuclear rivals. Prime Minister Gilani said he invited the Indian Prime Minister Manmohan Singh and Congress President Sonia Gandhi to visit Pakistan. Prime Minister Gilani said the semifinal between the

cricket teams of Pakistan and India is positive in bringing the two leadership and nations together, media quoted him as saying. "This match brought the peoples and leadership of the two countries together. This, I believe is the positive outcome of today's semi-final," Gilani said. Gilani said winning or losing a game does not matter much than its quality and the team spirit. He congratulated both the teams for demonstrating sportsmanship and quality game. He conveyed special felicitations to India's winning team for showing better performance and determination. However he

$.Price PKR/Shares 2.60 110.87 13.74 117.18 2.00 42.64 2.35 50.11 11.14 38.00

09-Mar-2011 09-Mar-2011 09-Mar-2011 29-Nov-2010 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011 30-Mar-2011

Britain expels 5 Libyan diplomats

Pak gains in talks, loses semi

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)

See Page 12

Pak confirms arrest of Bali bombing suspect See Page 12

Message of Mohali: People of Indo-Pak want to live in peace and unanimity: Singh, Gilani

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)

Match pressure takes Liaquat Soldier's life

US congrats Pak, India on Cricket Diplomacy ISLAMABAD: The United States Embassy congratulated the Pakistani and Indian cricket teams for their well-played match on Wednesday. The skill of both sides was thrilling and the good sportsmanship was inspiring to cricket fans all over the world, said a press release of the embassy issued here. The embassy also congratulated Prime Minister Syed Yusuf Raza Gilani of Pakistan MOHALI: Prime Minister Yusuf Raza Gilani sits beside Chief of India's ruling Congress party and Prime Minister Manmohan Sonia Gandhi at a dinner hosted by Indian Prime Minister Manmohan Singh in Mohali. Reuters Singh of India for their leaderthat the meeting of Indian the match. ship of "cricket diplomacy" Pakistan. "I would like to emphasise The Prime Minister conveyed Prime Minister Manmohan between the two countries. Singh and Pakistani Prime this is re-engagement between to the people of India that See # 6 Page 11 Pakistan desires good neigh- Minister Yousuf Raza Gilani India and Pakistan." said the Pakistan team did put borly relations with India. Parliamentary leaders of variwas "extremely positive and up the resistance and played ous political parties and Federal "The resolution of all issues encouraging". well but it was not their day. "I think every such meeting Ministers accompanied with through dialogue will bring He hoped that there would be peace and prosperity to our between the leaders of the two the Prime Minister Gilani were other occasions when both people," he said. countries generates an extreme- also present during the meetteams would play with each Meanwhile, Indian Foreign ly positive momentum," Rao ing. While Congress President other, both in India and Secretary Nirupama Rao said told a news conference during See # 7 Page 11

Pakistan Rebuilding Damaged Infrastructure

WB, ADB approve $775mn as stopgap ISLAMABAD: The Asian Development Bank (ADB) is extending $650 million in emergency assistance loans to help Pakistan rebuild vital infrastructure destroyed during last year's floods, while separately, the World Bank also approved a $125 million loan. The ADB Board of Directors Wednesday approved the loan assistance, along with a supporting technical assistance grant, for the Flood Emergency Reconstruction Project. The loans will be used to reconstruct damaged roads, bridges, irrigation systems, as well as flood and drainage protection works in the worst affected areas. "This assistance comes in direct response to a request from the Government of Pakistan and represents ADB's strong and continued commitment to the people of Pakistan," said Juan Miranda, Director

General for ADB's Central and West Asia Department. "The outcome of the project will be the restoration of critical infrastructure to restore livelihoods and access to markets which will support economic and social recovery." The emergency loan will reconstruct over 790 km of national highways and 800 km of provincial roads and bridges to safer, higher standards. It will also upgrade flood protection embankments and other drainage infrastructure in 1.5 million hectares of agricultural land. Along with quickly restoring damaged infrastructure, the project will aim to build back better. The assistance will include $600 million to be taken from Ordinary Capital Resources with a 32-year term, an eight year grace period and interest set in accordance with ADB's LIBOR-based lending facility.

Used cars depreciation cap raises by 10pc

FBR steps in to end raw material deficit

ISLAMABAD: Federal Board of Revenue (FBR) has enhanced the maximum limit of the depreciation from the existing 50 per cent to 60 per cent on the import of old, used and second-hand cars, says a press release issued Wednesday. The decision has been taken in line with a similar decision taken by the Economic Coordination Committee (ECC) of the Cabinet in its meeting held on 01.03.2011 when the apex body while considering the summary regarding "Rationalizing the Prices of Locally Manufactured Cars" See # 12 Page 11

Another $50 million equivalent will be tapped from ADB's concessional Asian Development Fund, which will have a repayment term of 40 years, with a 10 year grace period, and interest charges at 1 per cent per annum Separately, the World Bank approved a $125 million loan to help the government provide cash transfers to more than a million flood-affected households, the bank said in a statement. The World Bank loan is directed towards the government's Citizen's Damage Compensation Program which was launched in 2010 and has already provided around 1.4 million families with cash grants of 20,000 rupees each ($234) to cover their immediate needs. Millions remain displaced by the floods and many who See # 8 Page 11

Already imported freights to be charged by old duty

KARACHI: Federal Board of Revenue (FBR) has decided to hold the operation of SRO 231(1) 2011 of March 15 in abeyance to address the issue of shortage of raw materials for export sectors. All import consignments will be cleared according to SRO.509 (1) 2007 dated 09-062007 which was applicable up to 15-03-2011. According to an FBR notification of March 29, 2011 addressed to its Chief Collectors Customs south and north regions which was received by APP here on Wednesday through Pakistan Hosiery Manufacturers and Exporters Association

(PHMA), special excise duty shall also not be charged on the consignments stuck up with Pakistan Customs at ports. It said the government/ FBR has decided to review the zerorating scheme of SRO 509(1) 2007 dated 09-06-2007 and new notification in this regard will be issued shortly which will be effective from 15-03-2011. However, the reduced tax rates will continue to be effective. Since most of the import consignments lying at the ports are held up due to application problem of SRO 231(1) 2011, the manufacturers of five major export sectors are facing shortage of raw materials, the FBR communiqué said. -Agencies

Obama sets goal to reduce oil imports WASHINGTON: Seeking to show the public he understands the burden of rising gas prices, President Barack Obama set an ambitious goal of reducing U.S. oil imports by one-third by 2025, and vowed to break through the political gridlock that has stymied similar initiatives for decades. "Presidents and politicians of every stripe have promised energy independence but that promise has so far gone unmet," Obama said Wednesday during a speech on energy at Georgetown University. "That has to change. We cannot keep going from shock to trance on the issue of energy security, rushing to propose action when gas prices rise, then hitting the snooze button when they fall again," he said. Obama touted a series of initiatives — some new, but many he's previously announced — that he said would boost domestic oil production, increase the use of biofuels and natural gas, and make vehicles more energy efficient. And he embraced nuclear power as part of America's energy future, despite increased safety concerns following the earthquake and tsunami in Japan that severely damaged a nuclear power plant there. Obama said he is determined to ensure that nuclear plants in the U.S. are safe, and has ordered a safety review of all facilities that will incorporate lessons learned from the crisis in Japan. The president spoke against the backdrop of rising gas prices following unrest in the oil-rich Middle East. Gas prices in the U.S. have shot up 50 cents a gallon this year, reaching a national average of $3.58 a gallon last week, according to AAA's daily survey. Republicans have blamed Obama's policies for the rising See # 11 Page 11

Good wheat crop expected this yr ISLAMABAD: Food and Agriculture Organization (FAO) expected good wheat harvest to yield enough food for half a million poor rural households. "With an average family size of eight, this translates into a harvest large enough to feed four million people for the next six months", said Daniele Donati, Chief, FAO Emergency Operations Service. FAO spent $54 million of international donor funding buying and distributing quality wheat seeds as part of its emergency intervention that began last August, he informed, said a news release received here. Once the harvest is completed, this donation will have produced a crop worth almost $190 million in wheat flour, the main staple, at current local retail prices, he noted adding the investment made by donors has been quadrupled. As part of its immediate response to the floods, FAO led the UN's Agriculture Cluster, comprised of over 200 organizations, reaching 1.4 million farming families across the country.

FAO received $92 million of its $107 million appeal, which has enabled it to shore up the smallholder agricultural system in the four Pakistan provinces affected by the flooding. The donors were Australia, Belgium, Canada, the UN Central Emergency Response Fund (CERF), the European Commission, IFAD, Italy, Sweden, the United Kingdom and the United States of America. As well as supporting the "Rabi" wheat planting season, it is estimated that FAO saved the lives of almost a million livestock by supplying temporary shelter and enough deworming tablets and dry animal feed for almost 290,000 families. Green fodder is now becoming available as the harsh Pakistan winter turns to spring. "The livestock interventions really paid off," Donati said adding, it costs ten times more to buy a new animal, which often represent a family's lifetime savings. The UN agency will shortly distribute quality rice seeds to See # 9 Page 11

PM Gilani to give final approval today

POL price seen up Rs6-11/litre Qutubuddin KARACHI: Government is planning to drop another petrol bomb on the masses today and is mulling to increase the price of petroleum products by Rs612 from 1st April. According to the sources in Oil and Gas Regulatory Authority (OGRA) summary of increase in petroleum products was forwarded to Prime Minister Syed Yousuf Raza Gilani for the approval. PM Gilani was in India on Wednesday but he as reaches

Capital today, after that he would make some amendments in the summary before giving it's a final go-ahead. It is the prerogative of Prime Minister to amend the prices mentioned in the summary after consultation with his economic advisors and political partners. The source told that due to natural calamity in Japan and situation took place in Libya, the increase in cost of petroleum products has become inevitable. It is expected that the price of See # 10 Page 11


2

Thursday, March 31, 2011

NBP announces cash divided, bonus shares Staff Reporter

ISLAMABAD: Federal Minister for Water and Power privatisation, Syed Naveed Qamar presiding over 128th board meeting of Parco.-APP

Govt planning eco-friendly petroleum products: Qamar ISLAMABAD: Federal Minister for Water and Power and Privatisation, Syed Naveed Qamar has said that clean environment is priority of the government and the newly completed low-sulphur content petroleum project of PakArab Refinery Company (PARCO) will greatly contribute towards a greener environment in the country. He said this while presiding over 128th board meeting of Pak Arab Refinery

SSGCL working with TGTDCL for reducing UFG KARACHI: A team of Sui Southern Gas Company Ltd(SSGCL) is currently visiting Titas Gas Transmission and DistributionCo Ltd (TGTDCL) of Bangladesh to find out a mechanism for reducingunaccounted for gas (UFG) or transmission losses. Deputy Managing Director SSGCL Azim Iqbal Siddiqui, who is heading the team, told APP on telephone from Dhaka on Wednesday that he had been holding meetings with TGTDCL officials to find out the strategy for cutting UFG in Sui Southern Gas.-APP

Mobilink rewards cricket enthusiasts ISLAMABAD: As the nation is gripped in cricket frenzy, Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding, rewards 30 cricket enthusiasts with a round trip to Sri Lanka. To tap into the pulse of the nation that is wired to the game of cricket, Mobilink has announced the names of the lucky winners of the allexpenses paid trip to Sri Lanka under its prepaid brand Mobilink Jazz and indigo, says a press release issued here on Wednesday.-PR

(PARCO) held here on Wednesday. Syed Naveed Qamar is Chairman of the PARCO Board and the meeting was also attended by the Directors of the Government of Pakistan and Abu Dhabi. He said that the government has planned environment friendly petroleum products and all the refineries have been asked to meet the EURO-II requirements, which is an

International standard. He appreciated the PARCO for completing this environment friendly project. The board reviewed the operational, financial and HR progress of the company. The management announced the successful commissioning of the Diesel Hydro Desulphurisation (DHDS) project which was completed well before time and within the allocated budg-

SMES advised caution in shipment to Gulf, Mideast TFD Report KARACHI: The Union of Small and medium Enterprises (UNISAME) has advised SME exporters to exercise caution in exports to Libya, Syria, Bahrain and Yemen due to political unrest and to obtain insurance cover for loss due to strike, riot and civil commotion (SRCC) and also buyers failure to pay the bills. President UNISAME Zulfikar Thaver said the SME exporters are advised in their own interest to only ship goods against 100% advance payment to these destinations and if not then to get themselves indemnified against losses due to SRCC, says a press of UNISAME. He said it has been reported

that many SME exporters are facing financial hardships due to non payment of their over due bills from these countries as the buyers are unable to remit the proceeds due to closure of business and short working hours of banks and also due to lack of funds. He urged the SME exporters to follow the principle of "Know Your Customer" before shipments and gather all information about the customer in terms of credit worthiness, financial strength and payment habits as experience tell us that whatever the situation if the buyer is of good background and standing the bill is not dishonoured indefinitely and as soon as the situation is under control the proceeds would be remitted by a reputable buyer.

KARACHI: Ateeq-ur-Rehman of KCCI felicitating Siraj Kassim Teli, Chairman BMG, on getting Presidential Award “Sitara-e-Imtiaz”.-Staff Photo

et. This pioneering project will make PARCO the only refinery in Pakistan producing environment friendly fuel. It may be noted here that the DHDS project aims at meeting the international standards by reducing sulphur content in High Speed Diesel. The DHDS plant at Mahmood Kot, Muzzafar Garh is equipped with a maximum capacity of 26,000 barrels per day, and

reduces sulphur contents in High Speed Diesel from 7,000 parts per million to 500 parts per million which is an EURO-II requirement. The future plans of the company were also discussed and an update on the new Asphalt Production project presented. The meeting noted with satisfaction the continued progress of the company and appreciated the PARCO team.-APP

KARACHI: National Bank of Pakistan held its 62nd Annual General Meeting at Pearl Continental Hotel Karachi on Wednesday. The meeting was well attended by the share holders and the senior executives from the Bank. The share holders approved dividend payout of 75% cash dividend (Rs. 7.50/- per share) and 25% Bonus shares as recommended in the Board of Director's meeting held on March 1, 2011. Acting President of the bank, Qamar Hussain welcomed the share holders to the 62nd Annual General Meeting of the Bank. On behalf of the bank's management and the Board of Directors he appreciated the efforts and contribution made by the former President S. Ali Raza during his tenure of 10 1/2 years as president of National Bank of Pakistan. He then requested the financial controller to give an overview of the bank's

financial performance of 2010. The Bank's Financial Controller highlighted the key successes that the bank has achieved during the year despite the various challenges that the Pakistani economy had to face due to the devastating floods, growing inflationary pressure and widening of fiscal deficit. He informed the share holders that NBP became the first Pakistani Bank to surpass the 'Rs1 trillion benchmark' with an impressive increase in deposits of Rs105 billion or 14%. Advances remained at the same level as year 2009 and this is in line with the Industry trend. The Bank 's Capital and Reserves increased from Rs119 billion to Rs128 billion the highest amongst all Pakistani banks. The Bank posted a Pretax profit of Rs24.4 billion which is 15% higher from Rs21.3 billion in 2009. The increase is owing to higher core revenues and lower provision charge. Net interest income increased by

15% from last year, while fee income was up by 8% on account of higher trade finance and general banking income. After tax profit, remained at last year level of Rs.17.6 billion due to prior year's tax reversal of Rs4.1 billion in 2009. EPS for the year was Rs13.05 which is at the same level as year 2009. Financial Controller also highlighted the growth that the bank have achieved over the last five years in terms of deposits, advances, assets and profit. He mentioned that compared to other banks in Pakistan NBP is at number one in terms of Total Assets, Deposits, Capital and Reserves and After tax Profit. The Acting President highlighted the future strategies of the bank which include reduction in NPLs, focus on low cost deposits, increase in fee based income and technology up gradation. He explained that a number of projects are under way at the bank to upgrade the I.T. infrastructure of the Bank.

KASB Bank releases album of Faiz's poetry TFD Report KARACHI: In order to pay tribute to the legendary poet Faiz Ahmed Faiz on his 100th Birth Anniversary, KASB Bank Limited has taken another initiative of releasing the second album of his poetry. The first album was released in 1975, about 36 years ago. The new album contains 17 ghazals and poems of Faiz sung by famous female vocalist Nayyara Noor while famous musician Arshad Mahmood has composed the music. Both artistes are also famous for rendering Faiz's poetry in a befitting manner. A few ghazals and poems, in the voice of Faiz Sahib are also part of the album. The ceremony was held at Pearl Continental Hotel. Muneer Kamal, Vice Chairman, KASB Finance and Mohammad Aftab Manzoor, President & CEO-KASB Bank, who had also taken special interest in preparation of the album, were also present at the occasion. Both also expressed their confidence that the new album will receive an overwhelming response from Faiz lovers. KASB Bank, which is known to be active partner in promotion of art, literature, sports and other social activities throughout the country, is proud to be associated with celebrations of Faiz Ahmed Faiz 100th Birth Anniversary. KASB Bank is serving its clients through 104 Branches across Pakistan.

ISLAMABAD: A group photograph of Afghan Parliamentary Delegation with Deputy Chairman Senate, Jan Muhammad Khan Jamali and Deputy Speaker National Assembly Faisal Karim Kundi at Parliament House.-APP

Pak attaches great importance to relations with Afghanistan: Naek Staff Correspondent ISLAMABAD: Pakistan attaches great importance to strengthening bonds of friendship and close collaboration with Afghanistan. Since the present democratic government has come to power significant progress has been made to strengthen bilateral relationship. We strongly support the sovereignty, independence and territorial integrity of brotherly country of Afghanistan. This was stated by the Chairman Senate, Farooq H. Naek while talking to visiting Afghan Parliamentary delegation who called on him at the Parliament House here on Wednesday. The Chairman said terrorism is a common threat and challenge being faced by Pakistan and Afghanistan. Pakistan is against terrorism

in all its forms and manifestations. We are biggest victims of terrorism; we lost our great leader Shaheed Mohtarma Benazir Bhutto at the hands of terrorists. We have lost thousands of innocent civilians and valiant personnel of the armed forces. Terrorism has badly affected our economy and day to day lives, it is a common threat that requires a common response, he added. The Chairman further said "peace, security and stability in Afghanistan has vital link with peace and tranquility in Pakistan", an independent, peaceful and stable Afghanistan is in the interest of Pakistan, region and the world. The Chairman called upon the Government of Afghanistan to share experiences and join hands with Pakistan to eliminate terror-

ism not in Pakistan and Afghanistan but also the entire world to bring in era of peace, security and stability. Sayed Ishaq Gailani, leader of the Afghan delegation, while reciprocating the gesture said they are too pleased to visit brotherly country Pakistan and specially Senate of Pakistan. He also thanked the Chairman and Members of the Senate for their hospitality. While expressing their strong desire and commitment to further enhance the brotherly relations with Pakistan, the members of the delegation said that Pakistan and Afghanistan were brothers and neighbours. They will make all possible efforts to further enhance the brotherly relations between the two countries.

Economy positive for last couple of years ISLAMABAD: Despite several domestic and internationalchallenges, the country's economy is gradually moving towards building basis on sound footings as suggested by the economic indicators. Not only the country's foreign exchange reserves reached an all time high of $17.38 billion because of huge remittances sent by overseas Pakistan, the other economic indicators have shown positive growth during the period, sources in the Ministry of Finance said while commenting on the three-year performance of the current government. The government has been focusing on `New Growth Strategy' with an aim to raise growth above its historical average of 4.9 percent, source said adding main argument in the new growth frame work is that growth should be market-led and not government-led.-APP

Int'l Conf on Intellectual Property Rights told

‘$156mn trade loss in 2009 due to piracy’ Staff Reporter KARACHI: The protection of intellectual property (IP) in a country like Pakistan has assumed paramount importance as IP theft in various forms has reached stupendous heights, this was stated by Kalim A Siddiqui, President Petroleum Marketing Business, Byco Petroleum Pakistan Limited. He said this while delivering his keynote address as guest of honour at International Conference on Intellectual Property Rights (IPR). Siddiqui in his address said the magnitude of the IP problem could be judged from the fact that the gov-

ernment is losing Rupees nine billion annually or Rs.25 million per day because counterfeiters do not pay general sales tax, excise duty, income tax, or any other income whose collection is the due right of the government. He said that Pakistan has suffered $156 million trade losses during the year 2009 due to piracy in record and music, books and business software industry areas. The Byco Petroleum chief quoted the recent figures of Anti Counterfeiting Infringement Forum (ACIF) according to which 60 percent of the consumer goods in the country are substandard. Every year most famous brands lose seven to

20 percent sales. Figures of ACIF further revealed that in oil and lubricant industry annual revenue loss to government is Rs 1600 million; cigarette industry annual revenue loss to government is approximately Rs 500 million and Rs 800 million revenue losses to companies; books and publishing industry revenue loss to government is Rs 40 million, said keynote speaker of the moot. The veteran of petroleum industry said that in Pakistan, piracy levels in cable television, music and software are more than 90%, resulting in over US $1 billion loss in tax revenues. He said that strong IP pro-

tection is needed in Pakistan to attract foreign investments in the form of money and resources. Technology transfer from other countries to Pakistan also requires the formulation and enforcement of a stringent IP regime. Companies abroad would seldom transfer advanced technology or invest in production or research and development facilities in countries where their products are copied or technology is stolen, he said. He said that protecting IP is crucial to the survival and long-term growth of any business enterprise or the overall development of a nation Siddiqui said that coun-

terfeiting and piracy jeopardises healthy competition in an economy and distorts economic growth. As illegitimate operators save millions on research, development and marketing costs, legitimate companies struggle to compete with counterfeiters in price-sensitive markets. Moreover, there is a close nexus between increased piracy and counterfeiting, and organised crime, opined Kalim Siddiqui. He was of the opinion that IP theft smothers innovation and discourages sincere investors from investing in product and market development. The phenomenon also deeply affects the knowledge-based sectors, for

which IP is the essence of their success, survival, and growth. Counterfeiting and piracy also affects a country's exports and hampers the national economy, he said. Other speakers of the international conference said that it is not merely the government's action or legislations, which could protect and promote products and rights related to intellectual property but it is the people's mindset and attitude, which should be changed for combating the menaces of counterfeiting and piracy. The speakers said that drastic and revolutionary steps are required in other walks of life too in order to replace the rampant culture

of dependence on pirated and counterfeit goods in the society. They said that by consuming pirated goods, we as a nation are not doing justice to creative and intellectual fraternity of the country. They further said that IPR-related law enforcement mechanism in the country should be redesigned in order to effectively combat the menace of counterfeiting and piracy in the country. Audience of the conference was informed that before April 2005 the management of intellectual property in Pakistan was fragmented between three government ministries and this division and fragmentation detracted much from

the efficacy of the country's IP system. As a result, the IP situation in Pakistan, according to the international perceptions, was constantly deteriorating. In order to correct this undesirable situation, the government decided to establish an umbrella organization i.e. Intellectual Property Organisation of Pakistan (IPO) to integrate, consolidate, and upgrade the IP infrastructure in Pakistan. Participants of the moot were further informed that the establishment of IPOPakistan was also aimed at addressing the institutional shortcomings that were previously impeding efficient management of intellectual property in Pakistan.


3

Thursday, March 31, 2011 Top Economic Events

Yen weakens; investors contrast rate outlooks Asset managers go tentatively long carry trades NEW YORK: The yen weakened across the board on Wednesday, sliding to a 10-month low against the euro, as recent hawkish comments from eurozone and US officials contrasted with Japan's loose monetary policy. The euro rose to around 117.28 yen on electronic trading platform EBS, its strongest since May 2010, and was seen climbing more on expectations the European Central Bank will start raising interest rates as early as next month. Rising risk appetite encouraged investors to seek higher-yielding assets, with the Australian dollar climbing to a 29-year high over its US counterpart and a 10-month high against the yen. "The new high in the Australian dollar, combined with weakness in yen, suggest that the carry trade is building momentum," said Camilla Sutton, chief curren-

cy strategist at Scotia Capital in Toronto. "This could put significant weakening pressure on yen, but we would not be surprised to see some dollar/yen downside (yen strength) on the back of ongoing repatriation in late in April." The US dollar rose to around 83.19 yen, a level last seen on March 11, when the yen initially fell after Japan's earthquake. It last traded at 82.98 yen, up 0.6 per cent. Traders reported offers at 83.30/50, with orders said to be thin until more supply placed at around 84.00. Hawkish comments in recent days from US Federal Reserve and European

Central Bank officials contrasted with the stance taken by the Bank of Japan, which is set to leave interest rates near zero for some time to support the world's third-largest economy as it recovers

from the effects of the earthquake. Dallas Fed President Richard Fisher said on Tuesday he would vote against further monetary easing after the Federal Reserve's $600 billion bond-buying program ends in June. The euro was down 0.1 per cent on the day at $1.4097 but up

Asian currencies

Won bolts to 7wk high on foreigners stock buying Indonesia expected to defend level of 8,705 rupiah vs dlr SINGAPORE: Hedge funds piled into the won on Wednesday, lifting it to a seven-week high against the dollar and suggesting the South Korean currency may lead other Asian currencies higher in the second quarter with foreign equity flows to the region expected to remain solid. The won climbed to as high as 1,103.90 per dollar in local trade as the surprising absence of intervention by Korean authorities caused macro funds and other investors to bail out of short won positions, accelerating the upward move. The won's rise stood out on the day, with many other emerging Asian currencies relatively steady. Yet with regional equity markets reflecting strength from

foreign inflows, other currencies may follow the won higher. The won ended local trade at 1,104.2, the strongest close since late April 2010. It is on track to be the third-best performing emerging Asian currency in the first quarter, up 2.8 per cent. After the local closed, it strengthened further to 1,101.6, the firmest level in offshore trade since Feb 9. A lack of intervention boosted views that South Korea's foreign exchange authorities may allow more appreciation in the won to fight inflation. Indonesia's central bank was again spotted checking the rupiah's gains, dealers said, though upward pressure on the rupiah from offshore players may end

Stg off lows vs euro, data helps gains LONDON: Sterling bounced from a five-month low versus the euro on Wednesday, helped by worries over the euro-zone's debt crisis, although expectations UK rates will rise later than those in Europe checked gains. The pound also made gains against the dollar, advancing to a session high of $1.6083 after data showed British service sector activity rebounded in January to

grow at its fastest monthly pace since July 2002. Traders said stops above $1.6060 were tripped as model funds bought sterling with offers said to be above $1.6100 and $1.6115. The $1.6115 level is the 38.2 per cent retracement of sterling's fall from its 14-month high of $1.6403 on March 22 to $1.5937 low struck on March 28. "We are looking for the $1.6090/6140 area to provide strong resistance and the risks are for the market to pull back to $1.5750/80 before basing signs emerge," said Phil Roberts technical analyst at Barclays Capital.

Against the euro, sterling held on to its earlier gains. The euro was down 0.4 per cent for the day, at 87.77 pence, retreating from a five-month high of 88.365 pence struck on Tuesday. Despite Wednesday's drop, the common currency is up 2.3 per cent on the year, helped by expectations that the European Central Bank will raise rates much before the Bank of England.

Traders said funds as well as European and UK clearing houses sold the euro, pushing the cross to a low of 87.53 pence. Near term support for the pair is seen at its 10-day moving average which comes in at 87.45 pence. The pound also rose against the yen to its highest in more than two weeks, at 133.65 yen. The Japanese currency has come under broad pressure, hitting 10-month lows against the euro and touching its lowest level in nearly three weeks versus the dollar as interest rate differentials widened in favour of US and European currencies. -Reuters

up dragging the pair toward 8,705 in the medium term. "It is stuck because the central bank keeps intervening to support USD/IDR, so it doesn't break the 8,705 level. But flows are coming, betting on the IDR's further strength due to inflows from commodities exports and lower inflation figures for March," said a Jakartabased dealer. Standard Chartered recommended using the baht as a funding currency to buy other emerging Asian currencies such as the ringgit and rupiah. The baht has lost 0.53 per cent so far this year, becoming the worst performing currency among emerging Asian units. Reuters

Swiss franc ticks lower ZURICH: The Swiss franc ticked lower on Wednesday as hawkish central banker comments lifted euro and dollar while a Swiss policy maker struck a more cautious tone. The greenback got a boost from St. Louis Fed chief James Bullard, who urged the US central bank to begin reversing its campaign of monetary easing and the euro was lifted by comments that added to views that the European Central Bank was about to hike interest rates. "He reminded markets that the SNB will have to hike eventually, too, but not yet," Informa Global Markets analyst Tony Nyman said, adding the SNB was in no rush to move. "I think the SNB has fairly easy decisions to make. At the moment there is no real inflationary pressure so they can afford to sit and wait and watch how current crises in the world play out before moving," he said. The franc dipped against the euro compared to the New York close, trading at 1.3001 per euro at 0649 GMT. Traders said the next resistance level was at 1.3030, while the euro saw good support at 1.2930. The franc also fell against the dollar to 0.9238 per dollar, but was still not too far off the alltime high of 0.8963 hit in midMarch. -Reuters

Aussie dlr scales 29yr peak vs dlr, rallies against yen SYDNEY/WELLINGTON: The Australian dollar scaled a 29-year peak against the greenback on Wednesday, and raced to 10-month highs against a broadly weaker yen as risk sentiment stayed resilient with regional equities making solid gains. The yen has come under broad pressure after hawkish comments by Federal Reserve and European Central Bank officials contrasted with the stance taken by the Bank of Japan, which is set to leave interest rates near zero for some time to support a recovery from the March 11 earthquake. "Japanese investors are eyeing (better) yields offshore, whether it be in Australia or America or elsewhere, and that is what's pushing the yen down on a broad front," said Joseph Capurso, strategist at Commonwealth Bank. With the official cash rate at 4.75 per cent, Australia has some of the most attractive yields among developed nations. Further supporting the Aussie was persistent talk of M&A flows, solid demand for higher-yielding currencies and lofty commodity prices, traders said. The Aussie rose as high as $1.0334 after stops

were triggered when it breached the previous peak around $1.0315. It last traded at $1.0324. It has gained about 6 cents in just under two weeks, reaching the highest levels since it was floated in 1983. Against the yen, the Aussie jumped to a 10-month high of 85.69 yen, a remarkable 14 per cent turnaround from a low of 75.05 just two weeks ago. The break of the 200-week moving average at 84.17 was also seen bullish for further gains toward the 2010 highs around 88.00. Tracking the Aussie, the New Zealand dollar hit a five-week high of $0.7583, well up from $0.7514 in Tuesday's late local trade. Mike Jones, a strategist of Bank of New Zealand, said he expected some resistance around the current level, with heavier selling interest seen near $0.7640. The kiwi has gained more than 2 per cent in the past week, even as the latest slump in building approvals data pointed to a hit to the economy in the first quarter. The Aussie slightly outperformed its New Zealand counterpart, edging up to NZ$1.3600 from around NZ$1.3574. -Reuters

0.5 per cent against the yen at 116.95 yen on electronic trading platform EBS. The euro is more than 5.0 per cent higher against the dollar this year, and its apparent resilience to fiscal problems facing weak euro-zone countries has led some to nickname it the "Teflon euro." Speculation that Japanese investors may reduce dollar hedging positions related to their overseas investments, and the absence of huge repatriation flows following the quake, are shifting the focus back to economic fundamentals and reinforcing the yen's status as a funding currency. The market's focus on rate differentials benefited higher-yielding currencies such as the Australian dollar, which traded at $1.0322, near a 29-year high of $1.0334 hit earlier in the global trading day. The Aussie traded at 85.61 yen after earlier climbing to a 10-month high. -Reuters

Yuan near record high on PBOC guidance SHANGHAI: The yuan closed up against the dollar and approached its record trading high on Wednesday after the People's Bank of China fixed its daily mid-point near an all-time high. The PBOC has fixed a slew of record high mid-points since the start of this year, indicating the government may be allowing the yuan's exchange rate to appreciate to help fight inflation, partly propelled by high global commodity prices. China is also in the early stages of an economic rebalancing act that makes a stronger currency an almost inevitable part of the mix, implying sustained yuan appreciation may come far sooner than many foreign players are expecting. "All signs point to more gains of the yuan's exchange rate in the coming months, although the PBOC appears to remain cautious and is controlling the pace of appreciation," said a dealer at a major Chinese state-owned bank in Beijing. The trader and several others expected the PBOC to let its fixing hit another record high

late this week or early week. The yuan closed at 6.5559 versus the dollar, up from Tuesday's close of 6.5610 and within arm's reach of its record trading high of 6.5549 hit last Friday. It has now risen 4.12 per cent since it was depegged in June 2010, and 0.51 per cent so far this year. Before trading began, the PBOC fixed the yuan's midpoint at 6.5586, stronger than Tuesday's 6.5625 and only six pips away from the fixing's record high of 6.5580. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards were bid at 6.4380 in late trade, down from 6.4480 at Tuesday's close. Their implied yuan appreciation in a year's time inched higher to 1.87 per cent from 1.72 per cent. Since the start of this year, NDF-implied yuan appreciation has persistently lagged market expectations of a 5 to 6 per cent rise in 2011 partly because hedge funds, the main players in forwards, cut back exposure to Asian markets in favour of dollar assets as the US economy recovers, traders said. -Reuters

Indian rupee up a tad in narrow band MUMBAI: The Indian rupee rose marginally on Wednesday, but was stuck in a narrow band, as demand for the dollar from oil importers offset local share gains and dollar inflows. The partially convertible rupee closed at 44.745/755 per dollar, 0.1 per cent stronger than its previous close of 44.78/79. It had traded in a range of 44.7200-44.7950 intraday. "Tomorrow being the month-end and the fiscal yearend, rupee might be a bit volatile. Today not much of activity was seen," said Naveen Raghuvanshi, an associate vice president at Development Credit Bank. "People will have to squareoff," he said, adding the rupee is expected to trade in a broad band of 44.50-45.00 per dollar on Thursday. The one-month onshore forward premium was at 25.25 points, down from 27.50, the

three-month premium at 78.25 points versus 82.75 and the one-year at 288.00 points from 296.25. The one-month offshore non-deliverable forward contracts were quoted at 44.98, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange were at 44.9400, and on the MCX-SX and the United Stock Exchange at 44.9450, with the total volume at about $5.48 billion. Reuters

Time 4:01 5:30 5:30 11:00 11:00 12:55 14:00 17:30 17:30 18:45 19:00

Source GBP AUD AUD EUR GBP EUR EUR CAD USD USD USD

Events GfK Consumer Confidence Building Approvals m/m Retail Sales m/m German Retail Sales m/m Nationwide HPI m/m German Unemployment Change CPI Flash Estimate y/y GDP m/m Unemployment Claims Chicago PMI Factory Orders m/m

Source

Events

NZD JPY CHF GBP USD USD CAD USD

Building Consents m/m -9.7% Prelim Industrial Production m/m 0.4% KOF Economic Barometer 2.24 CBI Realized Sales 15 Challenger Job Cuts y/y -38.6% ADP Non-Farm Employment Change 201K RMPI m/m 1.8% Crude Oil Inventories 2.9M

Forecast -29 4.2% 0.4% 0.4% -0.1% -23K 2.4% 0.5% 379K 70.1 0.7%

Previous -28 -15.9% 0.4% 0.4% 0.3% -52K 2.4% 0.5% 382K 71.2 3.1%

Forecast

Previous

Previous Day Actual

9.1% 1.3% 2.19 6 20.0% 208K 0.4% 2.1M

-0.1% 2.16 -1 205K 0.6% 1.6M

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

As per 22.00 PST Ask High 1.4087 1.4128 0.9232 0.9273 1.6039 1.6081 0.9720 0.9751 1.0320 1.0332 116.9700 117.2600 0.8788 0.8817 1.3003 1.3039 133.1400 133.6000 89.9900 90.2500 1417.3000 1430.1500

Bid 1.4084 0.9227 1.6035 0.9716 1.0317 116.9200 0.8785 1.2999 133.0600 89.9400 1416.2000

Low 1.4056 0.9198 1.5980 0.9688 1.0272 116.2400 0.8755 1.2964 131.8700 89.4900 1412.1600

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 30/03/2011 A USD GBP CAD EUR JPY O/N 0.18550 0.55938 0.95383 0.54563 SN 0.11250 1WK 0.22430 0.58000 1.00167 0.75625 0.12875 2WK 0.23330 0.58750 1.03650 0.80538 0.14125 1MO 0.24380 0.61875 1.07833 0.90500 0.15063 2MO 0.27575 0.69188 1.13433 1.03000 0.16250 3MO 0.30450 0.81625 1.20083 1.17500 0.20000 4MO 0.34650 0.90000 1.27083 1.27063 0.24563 5MO 0.40600 1.00625 1.33583 1.37188 0.30000 6MO 0.46050 1.12500 1.39900 1.49250 0.34625 7MO 0.51150 1.20813 1.48283 1.56813 0.39625 8MO 0.56300 1.29563 1.56250 1.64250 0.44313 9MO 0.61625 1.37688 1.64267 1.71875 0.48750 10MO 0.67400 1.45813 1.73133 1.79875 0.51563 11MO 0.72500 1.52813 1.81933 1.86813 0.54250 12MO 0.78200 1.59688 1.90083 1.93938 0.56875

Major Central Banks Overview Central Bank

Next Meeting

Last Change

Bank of Canada April 12, 2011 September 8, 2010 Bank of England April 7, 2011 March 5, 2009 Bank of Japan April 7, 2011 December 19, 2008 European Central Bank April 7, 2011 May 7, 2009 Federal Reserve April 27, 2011 December 16, 2008 Swiss National Bank December 15, 2011 March 12, 2009 The Reserve Bank of Australia April 5, 2011 November 2, 2010

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

Division of National Bank of Pakistan (NBP) KARACHI, March 30,2011 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

85.30 136.44 120.21 87.58 92.39 87.88 13.44 1.03 15.23 67.54 16.12 22.75 10.95 13.00 307.52 28.19 64.58 23.42 23.22 0.08 2.81

85.10 136.12 119.93 87.37 92.17 87.68 13.41 1.03 15.20 67.38 16.08 22.69 10.92 12.97 306.80 28.12 64.43 23.37 23.17 0.08 2.80

84.88 135.75 119.59 87.14 91.93 87.45 13.37 1.02 15.16 67.21 16.04 22.63 10.89 12.94 305.99 28.05 64.26 23.31 23.11 0.08 2.80

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for March 30, 2011

KASB

BMA

ELXIR

GSL

ICSL

13.40 13.40 13.35 13.30 13.30 13.40 13.60 13.65 13.78 13.95 14.00 14.05 14.05 14.08 14.08 14.08 14.09 14.09 14.45 14.60

13.50 13.55 13.35 13.38 13.27 13.36 13.58 13.64 13.77 13.85 14.03 14.00 14.04 14.04 14.05 14.06 14.06 14.08 14.40 14.65

13.60 13.37 13.30 13.30 13.31 13.42 13.59 13.66 13.77 13.94 13.99 14.00 14.01 14.06 14.07 14.04 14.05 14.07 14.45 14.70

13.50 13.35 13.30 13.30 13.28 13.38 13.58 13.64 13.78 13.90 13.97 14.00 14.00 14.05 14.05 14.04 14.06 14.08 14.50 14.80

13.50 13.35 13.30 13.20 13.18 13.40 13.55 13.60 13.70 13.90 13.90 14.00 14.00 14.05 14.06 13.95 14.00 14.06 14.35 14.55

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 13.50 13.35 13.33 13.30 13.30 13.45 13.59 13.67 13.73 13.90 13.92 14.01 14.00 14.02 14.03 14.00 14.02 14.07 14.40 14.60

13.50 13.40 13.32 13.30 13.27 13.40 13.58 13.64 13.76 13.91 13.97 14.01 14.02 14.05 14.06 14.03 14.05 14.08 14.43 14.65

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

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

week month months months year years

-1.00 -0.04 0.24 0.39 0.86 0.26

-0.89 -0.06 0.66 0.27 -0.58 0.21

-0.95 -0.42 0.30 0.20 0.21 0.13

EUR/USD NZD/USD

0.20 0.29 0.89 0.76 -0.05 0.42

0.90 0.17 0.82 0.76 0.86 0.81

USD/CAD USD/CHF

-0.97 -0.17 -0.51 0.08 0.81 0.30

0.00 -0.25 -0.68 -0.53 -0.70 -0.13

-0.97 -0.17 -0.47 -0.45 -0.91 -0.52

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)30/03/2011 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

ASK

ABLN 13.15

13.65

13.00

13.50

13.00

13.50

13.35

13.60

13.60

13.85

13.70

14.20

13.80

14.30

14.00

14.50

JSBL

13.20

13.70

13.25

13.75

13.20

13.70

13.30

13.55

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

ASPK 13.30 CIPK

13.80

13.25

13.75

13.20

13.70

13.30

13.55

13.50

13.75

13.65

14.15

13.75

14.25

13.85

14.35

13.20

13.70

13.10

13.60

13.00

13.50

13.15

13.40

13.35

13.60

13.50

14.00

13.70

14.20

13.80

14.30

DBPK 13.05

13.55

12.95

13.45

12.90

13.40

13.20

13.45

13.30

13.55

13.50

14.00

13.60

14.10

13.75

14.25

FBPK 13.25

13.75

13.25

13.75

13.10

13.60

13.25

13.50

13.50

13.75

13.70

14.20

13.80

14.30

13.90

14.40

FLAH 13.20

13.70

13.15

13.65

13.10

13.60

13.30

13.55

13.50

13.75

13.60

14.10

13.75

14.25

13.85

14.35

HBPK 13.30

13.80

13.20

13.70

13.10

13.60

13.25

13.50

13.45

13.70

13.65

14.15

13.75

14.25

13.85

14.35

HKBP 13.15

13.65

13.10

13.60

13.10

13.60

13.25

13.50

13.45

13.70

13.60

14.10

13.70

14.20

13.80

14.30

NIPK

13.20

13.70

13.20

13.70

13.30

13.80

13.40

13.65

13.50

13.75

13.60

14.10

13.70

14.20

13.75

14.25

HMBP

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

SAMB 13.10

13.60

13.10

13.60

13.05

13.55

13.20

13.45

13.40

13.65

13.65

14.15

13.75

14.25

13.85

14.35

MCBK 13.25

13.75

13.10

13.60

13.00

13.50

13.15

13.40

13.40

13.65

13.60

14.10

13.70

14.20

13.80

14.30

NBPK 13.40

13.90

13.25

13.75

13.15

13.65

13.30

13.55

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

SCPK 13.25

13.75

13.10

13.60

13.10

13.60

13.25

13.50

13.45

13.70

13.60

14.10

13.70

14.20

13.80

UBPL 13.10

13.60

13.10

13.60

13.10

13.60

13.30

13.55

13.50

13.75

13.65

14.15

13.80

14.30

13.90

14.40

AVE

13.71

13.14

13.64

13.09

13.59

13.27

13.52

13.47

13.72

13.62

14.12

13.73

14.23

13.83

14.33

13.21

14.30


4 Thursday, March 31, 2011

The Financial Daily International Vol 4, Issue 143

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

Overcoming gas shortage in Sindh Sui Southern Gas Company (SSGC) has informed the consumers that gas supply from Bhit field, supplying 345 mmcfd would be curtailed up to 60 per cent for 24 days, starting from April 11 to May 4 on account of its annual turn around. It has also requested the consumer to contain usage and wastages for avoiding prolonged hours of load shedding. SSGC sought cooperation of consumers as and when any of the field supplying gas closes or curtails supplies during annual turn around. Taking the consumers in confidence has kept consumers' woes at the minimum and caused least disruption in economic activities. Initially, ENI had planed complete shutdown of the field but SSGC was able to persuade it to maintain supplies through at least one production train thus ensuring at least 40 per cent supplies to which ENI also agreed. Despite that SSGC would have to undertake load shedding to meet the short fall of more than 200mmcfd. The three bulk customers which are likely to be most affected would be WAPDA, Fauji Fertilizer Bin Qasim and KESC as their gas supplies would be curtailed. SSGC has already informed these customers well ahead to make alternative arrangements. However, one point must be kept in mind that power generation companies have the second option but fertilizer companies have no option but to run the plant at lower capacity utilization. It must also be kept in mind that any curtailment of gas supply to fertilizer plants has two adverse outcomes 1) no substantial increase in power generation is achieved and 2) waste of foreign exchange on import of fertilizer and also payment of millions of rupees subsidy. The cost of imported urea is almost double the cost of indigenously produced one. Similarly, running of KESC's power plants on furnace oil during reduced gas supply becomes punitive for consumers. There can't be two opinions that running thermal plants on furnace oil is more expensive as compared to operating on gas. Therefore, residents of Karachi will not be wrong in demanding the federal and/or provincial governments to pay the difference between cost of furnace oil and gas. Some critics may oppose the idea but they must take into account that one of the key reasons of high pilferage of electricity in the country is high electricity tariff. It is on record that persistent hike in tariff has proliferated electricity theft. Therefore, making the cost affordable will encourage the consumers to get their connection regularised and also pay the bills. Consumers, in their own interest must also conserve gas to contain its load shedding. They must also keep in mind that if they do not conserve gas they could also face situation similar to the one faced by the consumers in Punjab. Last but not the least the government must finalize import of gas to overcome the seasonal short supplies.

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.

Radiation fixes in Fukushima eople evacuated from a danger zone around Japan's damaged Fukushima nuclear plant may need to stay away for many months, but experts say there are ways to make their return swifter and easier. Radiation levels in the area now are higher than normal and could increase risks to long-term health, but so-called remediation methods, such as deepploughing the soil, removing topsoil altogether and choosing crops and ways of farming that don't pick up much radioactivity, can cut the risk of harm. Tens of thousands of people, including farmers and their families, have been evacuated from a 20-km (12-mile) exclusion zone around the stricken Fukushima plant, and another 130,000 who live in a 10 km (6-mile) band beyond the exclusion zone have been advised either to leave or stay indoors. Assuming no drastic worsening of leaks from the tsunami- and quakedamaged plant, there will be no longterm exclusion zone like that around Chernobyl in Ukraine, the site of the world's worst nuclear disaster in 1986. "The worst-case scenario in terms of people re-occupying the area is that people might be able to go back within months," said Steve Jones, an independent nuclear and environmental consultant.

P

"There's likely to be an extended ban on food production within the affected sector -- of about 20 to 30 km out -that might persist for some time. But there is then also the option of applying all sorts of remedial measures." Experts say the key to the future of the current exclusion zone will be levels of radioactive caesium 137, which has a half-life of 30 years. That means that its radioactivity drops by 50 percent every three decades. PRUSSIAN BLUE Both caesium 137 and another radionuclide, iodine 131, have been detected in crops, in the soil and in milk produced in the area close to the plant. Yet experts say there is no reason this should make the area a no-go zone forever. "The iodine problem will be over in a couple of months," said Astrid Liland of the Norwegian Radiation Protection Authority, explaining that since iodine 131 has a half-life of eight days, it will quickly dissipate. That means that milk contaminated with iodine 131, for instance, can be safely made into long-life cheese. Consumers, however, may be reluctant to buy it. For caesium, which lingers far longer and may present a bigger problem -especially for farmers of grazing animals -- both Liland and Nick

Beresford, a radioecologist at the Lancaster Environment Centre in England, say the use of a chemical compound called Prussian blue is probably the best option. Prussian Blue binds to caesium to prevent it from being taken up during digestion by cows, goats, sheep and other animals and was widely used in the areas around Chernobyl. "It is still used in Norway to counter the effects of Chernobyl, largely for sheep and goats," said Liland. Other lessons learned from Chernobyl include deep-ploughing the soil to drive the radiation further down into the ground, and using potassium fertiliser, experts said. Potassium is vital for living cells and absorbed by plants in a similar way to caesium. Since plants prefer to absorb potassium, overloading the soil with potassium can limit the uptake of caesium. "The activity at the moment will be predominantly in the top few centimetres of the soil profile, so if you're willing to spend an unlimited amount of money you could simply remove all that, take it somewhere else and bury it," added Jones. LIKE CHERNOBYL AFTER 25 YEARS Jim Smith, a specialist in environmental physics at Britain's Portsmouth

University who has spent years studying the radiation effects from Chernobyl, said it was important not to overplay the potential health and environmental impacts from the levels of radiation seen around the Japanese plant. Working from data from surveys conducted by teams from the United States energy department and the International Atomic Energy Agency (IAEA), Smith said there were so far no areas in which radiation levels had exceeded 300 microsieverts per hour. "Now -- 25 years on -- at Chernobyl, I've worked in areas where we can still have readings of up to 300 microsieverts per hour," he said. "So whilst this is clearly a significant contamination of the terrestrial environment, I was quite relieved to see these levels (in Japan)." For ordinary people faced with the dilemma of whether to return to their homes in the months ahead if the exclusion zone is lifted, Smith said key would be to avoid unnecessary stress. "We're in the range of dose rates where we should say... it's not going to kill you immediately, but you'd have an increased risk -- just as many people do from natural radioactivity around the world -- and it's your choice," he said. "To me this is still a bigger social, economic and psychological problem than it is a radiation problem."-Reuters

Syria status quo serves whom? The fate of Syrian President Bashar al-Assad is one of those rare subjects where Israelis and Palestinians largely see eye to eye. They want him to survive. There is no love lost between Israel and Damascus, and many Palestinians are wary of Assad, whose administration has tried to blame them for the unrest roiling Syria. But he is a predictable partner and his ousting would lead inevitably to prolonged uncertainty. "Both sides would prefer Assad to stay in power. It is a case of 'better the devil you know'," said Gabriel BenDor, director of national security studies at Haifa University. "Neither side thinks that anything better will necessarily come out of these particular disturbances, and they fear that if Assad goes there would be a long period of instability." Israel has been forced to review its strategic options on a weekly basis this year. Having seen the overthrow of its most trusted Middle East ally, Egypt's Hosni Mubarak, it now faces possible upheaval in its heavily armed northeastern neighbour. Unlike Egypt, Syria never made peace with Israel following a 1973 war, but it has stuck rigorously to its disengagement commitments, establishing a security status quo that has suited both sides down the years. Much less to Israel's liking is the fact that Syria backs two of its most active enemies -- Lebanon's Hezbollah and the Palestinian Hamas Islamists -- and some analysts suggest change in Damascus could eventually benefit the Jewish state. But others argue that should the protests shaking Syria eventually lead to the ousting of the country's leadership, as has happened in Tunisia and Egypt, then Sunni Muslim extremists could fill the vacuum and make Damascus much more radical. "The idea that these regimes will be replaced by liberal democracies is too good to be true," said Moshe Ma'oz, a Syria expert and professor at Hebrew University in Jerusalem.

INCUBATING FACTIONS Just as the Israelis are silently monitoring the situation in Syria, so too are the Palestinians in Gaza, which is run by Hamas, and the West Bank, ruled by a pro-Western administration. "What happens in Syria may have a greater importance for Palestinians than events elsewhere for several reasons. Firstly, 400,000 Palestinians live there, and the offices of many factions are also there," said Waleed Al-Awad, a leader of the Palestinian People Party, a PLO faction. Syria has been the incubator for several radical Palestinian groups, and the political leaderships of both Hamas and Islamic Jihad, whose militants in Gaza regularly fire rockets into Israeli territory, are based in Damascus. Analysts believe neither group wants Assad unseated, and say Palestinians could be acting as a buttress for his government, dismissing hints from Damascus that unnamed "foreigners" might be orchestrating the discontent. "The presence of the main Palestinian resistance factions gives Syria's regime some internal strength,"said Palestinian political analyst Talal Okal, who lives in Gaza. Hamas and Islamic Jihad would almost certainly have to find new homes should Assad fall and be replaced by any proWestern government with ambitions to distance itself from Shi'ite Iran. That would be the best case scenario for Israel, which fears Iran's nuclear ambitions and wants to see it utterly isolated. "Syria plays an incredibly important role in Iran's effort to influence and control the region," said Josh Block, a fellow with the Progressive Policy Institute in the United States. "If Assad were to go it would severely weaken Hamas, Hezbollah, Iran; all the forces that oppose the peace process." GOLAN HEIGHTS The emergence of a less hostile administration in Syria could also finally open the door to a long-elusive

peace deal with Israel, optimists say. All previous attempts to secure a negotiated settlement between the old foes have failed -- most recently in 2008 when indirect talks brokered by Turkey broke down after Israel attacked Gaza in a bid to end Hamas's repeated rocket strikes. Israelis are sharply split over whether it is worth pursuing peace with Syria, which would inevitably involve returning the Golan Heights, a border plateau seized by Israel in 1967 and later annexed, in a move rejected internationally. Advocates of doing a deal say Israel has to normalise relations with all its neighbours if it wants a secure future. Opponents say Syria has nothing to offer Israel that would justify the military, economic and psychological costs of giving up the Golan, home to some 20,000 Israeli settlers. But any talk of a peace deal at present is absurd. Israel has said it needs a stable environment to talk peace and analysts doubt whether successors to Assad would rush into negotiations, for fear of harming their credibility at home with a domestic audience weaned on anti-Israeli rhetoric. "Any new regime is not going to be able to compromise its legitimacy by reaching any agreement with Israel," said Haifa University's Ben-Dor. However, should Assad hold on to power, he might prove more flexible with the West in an effort to strengthen Syria's economy and quell public anger over poverty and unemployment. "If he stays he might prove more pragmatic," said Syria expert Ma'oz, arguing that Assad wanted permanent peace. "He wants the Golan Heights from Israel. His father lost it ... and the prestige involved is very important to him."-Reuters

Egyptians grapple with political overhaul Egypt's politics have been transformed since Hosni Mubarak was toppled on Feb. 11 but the prospect of elections may put remnants of his ruling party and an established Islamist group in the driving seat for now. Torn between the desire for stability and a full purge of the system which could extend turmoil that has cost the economy billions of dollars, many Egyptians have opted for the former. That was what a referendum held on March 19 suggested when 77 percent of the voters backed constitutional amendments drawn up by a committee appointed by Egypt's ruling military council. More radical reformers, including youth groups who led the uprising that erupted on Jan. 25, wanted a 'No' vote and an entirely new constitution. For them, the revolution is still incomplete. But the mere fact Egyptians took part in a vote in which the result was not a foregone conclusion before polling stations opened is testimony to Egypt's transformation from the 30 years of Mubarak's rigged voting, police repression and corruption. "There is no doubt there have been major developments like changes in the constitution, a new law for political parties, freedom of expression has been granted but still more needs to be done," said political scientist Mustapha alSayyid. "The outcome of the revolution will appear after elections. We will see if the people behind the revolution succeeded in reaching power to do what they want, or if it is remnants of the former regime, or if Islamists take power," said Sayyid. Youth groups and other protest movements which had drawn millions of Egyptians onto the streets, often using the Web and social media to mobilise, now have little time before a parliamentary election set for September to turn themselves into more formal political parties. The Muslim Brotherhood, with a broad base despite decades of repression under Mubarak, is best placed to capitalise. Remnants of Mubarak's old party network of notables in rural areas, local council officers and business exec-

utives are also well placed. Seeking to assuage fears, the Brotherhood has said it will not seek a parliament majority this time or run for president. "So far, the revolution is definitely incomplete. It has only accomplished 10 percent of its demands," Sayyid Abu El Ela from the January 25 Youth Revolutionaries told Reuters. ROLE MODEL "Now the people have retreated and their will has switched to a revolution of reform, not of change. But the youth will continue to push for change," he said. How Egypt navigates the transition will have a wider impact. Tunisia's revolt may have preceded the Egyptian protests and Libya may be grabbing headlines for the violence wrought, but developments in the Arab world's most populous country will reverberate more profoundly across the Middle East. "What happens in Egypt is extremely important for the region. If there is stability in Egypt, then it rubs off on others. It is like a role model," said Kamran Bokhari, regional director for Stratfor. The army has shown little interest in staying in government, even though all Egypt's presidents since the monarchy was overthrown in 1952 were officers. The army has pushed for swift elections. But even when the officers return to barracks, the military is expected to loom in the background. Bokhari said it could take a behind-the-scenes political role as Turkey's army did for decades or as Pakistan's military still does. "The revolution that people talk about is a very incomplete one. They removed the president and transferred power to the armed forces," said one Western diplomat. But the political changes are nonetheless dramatic. Mubarak and his family are under house arrest in the resort of Sharm elSheikh, the ruling National Democratic Party is in tatters, the feared State Security agency has been scrapped and the cabinet contains no one unacceptable to the revolutionaries. Several former ministers and other top

party or government officials are in detention and others are being probed over their business dealings. New parties of many colours are taking shape, including one that will represent the Brotherhood. Constitutional amendments approved in the referendum may not go as far as radicals wanted, but still reshape the landscape. The amendments restrict the president to two four-year terms, make it easier for independents to run for the presidency and restore judicial supervision of votes, a guarantee against rigging practised by the NDP and police in 2005 and 2010. ECONOMIC CHALLENGES Radicals still see more to be done. An emergency law, introduced after Mubarak's predecessor was assassinated by Islamists in 1981, has still not been lifted. The army promised it would go before elections but has not been more precise. Also raising concern is a law restricting strikes by increasingly assertive Egyptian workers. The government says it is to stop a wave of protests over low wages that have crippled the economy. Activists see it as an attack on new found freedoms. Getting the economy back on track is one of the biggest challenges for whoever rules. Egypt's young population wants both more political openness and new economic opportunities, instead of the wealth divisions that grew wider under Mubarak. The new Manpower Minister Ahmed El Borai outlined the scale of challenge in meeting that demand. He put unemployment at 19 percent, roughly double the figure Mubarak's cabinet declared. Economic disruptions since January will cut economic growth to 3.5 to 4 percent of national output in the year to June, from earlier estimates of 5.8 to 6 percent. Analysts say Egypt needs at least 6 percent simply to create enough work for new job entrants. Tourism, which usuallly generates over $10 billion a year, is only just starting to recover from January's mass exodus. Many factories operated at well below

capacity in February because of curfews and insecurity Foreign investors, who had poured in billions of dollars, are now keeping their distance until Egypt's political future becomes clearer. If they are to maintain their drive for a deeper political overhaul, new groups, mainly liberals and those opposed to the Brotherhood's Islamist agenda, need time to organise and mobilise supporters after decades in the wilderness. Mubarak cracked down hard on liberal challengers, partly so that he could portray the Brotherhood as the only alternative to his own autocracy, a choice that helped secure him the support of the West who have proved fearful of Islamists in power. Analysis of the referendum results show that the 'No' votes were concentrated in urban areas with relatively high literacy, suggesting that the arguments of the young revolutionaries did not have much impact in rural areas where illiteracy is widespread and people take less interest in public affairs. Liberals were quick to blame their relatively poor showing on scare stories spread by conservatives, along the lines that voting 'No' would lead to prolonged chaos. Many 'Yes' voters in the referendum said they were guided, not by Islamists or other political forces, but by a desire to see a quick return to civilian government and more emphasis on law and order and on stimulation of the economy. Mohamed Mustafa, who voted 'Yes' in Cairo's suburb of Maadi, said the calls from more radical reformers for writing a new constitution would take too much time. "So we should leave that till later. We need the country to move ahead now," he added. Mahmoud Salem, a liberal who blogged against Mubarak for years under the pseudonym Sandmonkey, said the protest movement had lost touch with ordinary people's aspirations. "You care about the revolution and the arrest of NDP figures and getting the country on the right track. They care about economic security, the return of stability and normalcy the fastest way possible," he wrote.-Reuters


5

Thursday, March 31, 2011

South East Asian stocks

European shares hit 3-week closing high KSE-100 Index Opening Closing Change % Change Turnover (mn)

11,711.40 11,808.61 97.21 0.83 52.32

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

3,302.07 3,338.40 36.33 1.10 2.02

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

2,603.57 2,615.86 12.29 0.47 0.06

Major Gainers

Symbol

Close

Change

RMPL 2,396.94 NESTLE 3,365.64 IDYM 314.00 NRL 305.87 PKGS 119.96

95.99 75.99 12.77 9.49 5.51

Major Losers

Symbol

Close

Change

EXIDE SHEZ PECO SRVI INDU

193.41 146.03 108.76 177.82 210.35

-6.53 -5.64 -5.16 -2.98 -1.79

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LUCK AHCL FATIMA EPCL DGKC

68.03 25.82 13.43 13.62 25.80

4.95 4.78 3.21 2.93 2.77

Active Issues Plus Minus Unchanged

159 74 95

Sector Updates FERTILISER 000 tonnes

Urea Offtake (Jan to Dec 10) Urea Offtake (Dec 10) Urea Price (Rs/50 kg) DAP Offtake (Jan to Dec 09) DAP Offtake (Dec 10) DAP Price (Rs/50 kg)

6,123 626 1,020 1,317 90 3,143

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Jan 11) 47,153 Sales (July 10 to Jan 11) 45,113 Production (Jan 11) 6,698 Sales (Jan 11) 6,793

INDUS MOTOR CO Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)

29,078 28,293 5,596 5,885

HONDA ATLAS CAR Production (July 10 to Jan 11) 9,279 Sales (July 10 to Jan 11) 8,779 Production (Jan 11) 1,511 Sales (Jan 11)

1,904

DEWAN FAROOQ MOTORS Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)

186 113 0 23

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Feburay 4,11) 5,046,861 Advances (Feburay 4,11) 3,140,675 Investments (Feburay 4,11) 2,100,015 Spread (Feburay 4,11) 7.61%

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

1,122 188 81 15 727 138 3,426 634 32 6 4,331 690 6 2

PRICES (Ex-Refinery)

Rs

MS (1 Feb 11) MS (1 Jan 11) MS % Chg Kerosene (1 Feb 11) Kerosene (1 Jan 11) Kerosene % Chg JP-1 (1 Feb 11) JP-1 (1 Jan 11) JP-1 % Chg HSD (1 Feb 11) HSD (1 Jan 11) HSD % Chg LDO (1 Feb 11) LDO (1 Jan 11) LDO % Chg Fuel Oil (1 Feb 11) Fuel Oil (1 Jan 11)

51.74 49.41 4.72% 58.28 55.01 5.94% 58.51 55.24 5.92% 61.80 58.55 5.55% 55.32 53.46 3.48% 47,931 45,947

Earnings optimism lifts stocks; financials lead

Volume down as cricket fever rises Nawaz Ali KARACHI: Bullish activities continued at the Karachi Stock Exchange on Wednesday, driven by buying in cement and fertiliser stocks. However, volumes remained low as investors preferred to stay on the sidelines during a curtailed trading session ahead of the cricket world cup semi final. The benchmark KSE-100 index increased by 97 points 0.83 per cent to close at 11,808 points, KSE-30 index jumped by 113 points - 0.99

per cent to close at 11,542 points ands KSE all-share index grew by 66 points - 0.82 per cent to close at 8,225 points. "The cricket mania kept investors away from stock market", said Samar Iqbal, equity dealer at Topline Securities. Just 52.3 million shares exchanged hands during the day which was 58 million shares less as compared to a turnover of 110.3 million shares a day earlier. The semi final of the ICC Cricket World Cup 2011 was

Indian shares at 2-½ month closing high MUMBAI: Indian shares gained for the seventh day and were on track for their best monthly performance since last September, closing 0.9 per cent higher on Wednesday, as world equities gained on hopes the global economy is recovering and crude oil prices eased. Investors, however, were skeptical about the momentum spilling over to the next month after the rally that has propelled Indian stocks to two-and-ahalf-month closing highs. Lenders led the charge on optimism over loan demand outlook on expectations the economy would continue to grow at a fast pace. The banking sector index gained 1.7 per cent. The 30-share BSE index rose 0.89 per cent, or 169.38 points, to 19,290.18 points, its highest closing level since Jan. 12, with 23 of its components closing in the green. Market breadth pointed to a broad-based rally, with gainers beating losers in a ratio of 2.6 to 1 in a volume of 322 million shares on the BSE, higher than the 30-day daily average of 278 million shares. Foreign funds have pumped in nearly $1 billion in Indian equities in March, driving the benchmark index 8.1 per cent higher. "This rally is not likely to last long. Earnings need to be eyed next," said Arun Kejriwal, director of research firm KRIS. Indian companies are scheduled to start reporting their results for the quarter and fiscal year ending March from the second week of April. "Margins for this quarter and fiscal year could be under pressure. Rising inflation, input costs could squeeze them,"

Kejriwal said. Headline inflation in India tops 8 per cent despite eight interest rate increases since last March, with food prices a key inflation driver. The BSE index is down 5.9 per cent year-to-date, making it the worst performer among major markets in Asia. Top lender State Bank of India jumped 3.3 per cent, while leading lenders ICICI Bank and HDFC Bank firmed 0.7 per cent and 1.4 per cent, respectively. Paper producers soared after U.S. paper and packaging company International Paper Co said on Tuesday it intended to buy a majority stake in India's third-largest paper company Andhra Pradesh Paper Mills for about $257 million in cash. "The deal will give a boost to the industry, which was not in focus for a while. It gives a sense we could see more such deals in days to come," said Kejriwal. Andhra Pradesh Paper jumped 20 percent, while rivals West Coast Paper Mills and Ballarpur Industries gained 17.1 per cent and 16.4 per cent, respectively. Drug maker Cipla jumped 5.2 per cent, catching up with the underperformance, dealers said. The stock is still down 11.4 per cent in 2011. Real estate firm DB Realty ended up 18.8 per cent, extending gains for a second day after touching a record low on Tuesday. The stock is still down nearly 40 percent year-to-date. The 50-share NSE index gained 0.9 per cent to 5,787.65, closing above its 200-day moving average of 5,696 points.-Reuters

played between the two arch rivals India and Pakistan. The government announced a halfday off in the country, whereas Sindh provincial government announced holiday. To facilitate the investors to enjoy the hype trading time was curtailed by 90 minutes and market closed at 2:00 PST. The day started on a positive note with market up 24 points. During the initial hour index witnessed some mix activities moving on both sides and touched an intra-day low of 11,683 points (-ve 28). However renewed buying

FTSE to best streak in 7-month LONDON: The FTSE 100 closed higher for a sixth consecutive session on Wednesday, its best run since August 2010, as investors ditched retailers over earnings worries in favour of growth sectors such as industrials and mining. Dixons issued a profit warning and gloomy outlook as a survey from the Confederation of British Industry showed the underlying trend for retail sales remained weak. Dixons, Britain's No.1 electrical retailer fell 18.3 per cent, while the country's biggest pizza delivery firm, Domino's Pizza UK & IRL Plc, fell 4.2 per cent as it reported a slowdown in sales growth. Next shed 2.6 per cent and Marks & Spencer dropped 3 per cent as MF Global initiated its coverage on the latter with a "sell" rating, arguing it has a "history of boom and bust", while Oriel cut its earnings forecasts. Traders said banks weighed on gains ahead of Irish banking stress-test results on Thursday. Barclays potentially dealt UK Plc a blow. It was reported to be considering moving its headquarters to the United States due to the UK threat of higher capital requirements. Despite the retail gloom, London's blue-chip index closed up 16.13 points, or 0.3 per cent, at 5,948.30. The index has risen 6 per cent since it's year-low of 5,591.59 on March 15, rebounding from sharp falls after Japan's earthquake, political trouble in the Arab world and European debt worries. See # 5 Page 11

Policy tightening worries weigh on China

Hong Kong shares up SHANGHAI/HONG KONG: Financial counters led a broad rebound in Hong Kong shares on Wednesday, as risk appetite improved with traders settling their positions for the end of the first quarter. Hutchison Whampoa Ltd , billionaire Li Ka-shing's flagship ports-to-telecoms company, soared 5.1 per cent to a 3week high after it posted a forecast-bearing 2010 earnings partly driven by a turnaround in its 3G telecommunications arm. It climbed as much as 5.4 per cent in early trade. All eleven financial counters in the benchmark Hang Seng Index gained, with China Construction Bank, Industrial and Commercial Bank of China, HSBC and Bank of China the leading lights. Hong Kong's main stock index finished up 1.7 per cent to 23,451.4, reversing two days of losses after gaining 3.8 per cent last week. But analysts were unsure whether this trend would continue into April and the second quarter, with China inflation particular concern. Risks in Japan, North Africa

and the Middle East also weigh. This caution was evident on the China markets, which also felt lingering worries over further monetary tightening, possibly next month. The Shanghai Composite Index closed down for a second consecutive day, edging down 0.1 per cent to 2,955.8 on Wednesday, following a 0.9 per cent dip on Tuesday. The official China Securities Journal said on the front page that higher-than-expected liquidity was likely to push the People's Bank of China to carry out more tightening policies in April. Some analysts, however, said any further tightening would benefit Chinese banks. "Policy tightening is good for banks," said May Yan, Barclays Capital's head of research for China banks. "The more the Chinese central bank tightens, the more the banks will charge because of tightening liquidity." Yan said that Chinese banks will report strong first-quarter earnings at the end of April and this would give some

upside for their Hong Konglisted H-shares. The Hang Seng Finance Subindex, containing the 11financial constituents of the benchmark, is up 1.4 per cent for the quarter so far, underperforming the 1.8 per cent uptick on Hong Kong's main stock index. TIGHTENING FEARS WEIGH ON CHINA In China, traders said liquidity conditions may not tighten in the coming weeks because hundreds of billions of yuan worth of PBOC bills were set to mature and foreign capital appeared to still be flowing into China on a large scale. The Shanghai index is likely to consolidate under the key 3,000-point resistance level in the short-term, said Zhang Yanbin, an analyst at Zheshang Securities in Shanghai, adding that inflation and policy concerns "are also keeping investors cautious." The Shanghai index was also weighed down by profit-taking in some selective shares that had recently outperformed the market in speculative trade.-Reuters

activities allowed the index to bounce back as investors hoped some break through in trade and industrial exports to India during visit of Pakistani prime minister to India to watch the cricket match. The index remained in the positive zone till the closing bells rang due to continued buying primarily in cement and fertiliser stocks. The index near the end of the trading session touched its highest level of the day of 11,822 points (+ve 111) and finally ended the session near those levels. "Cements and fertiliser

stocks remained in limelight. Investors accumulate cements stocks due to increase in cement prices. Fertiliser stocks remained in limelight in anticipation of excellent quarterly results", added Samar Iqbal. Lucky Cement was the volume leader with 4.95 million shares followed by Arif Habib Corporation by 4.78 million shares and Fatima Fertiliser with 3.21 million hares. Out of total 328 active issues; 159 advanced and 74 declined while 95 issues remained unchanged.

Weaker yen

Nikkei hits two-week high TOKYO: Japan's Nikkei stock average climbed 2.6 per cent, hitting its highest level since a post-quake panic sell-off as the yen softened against the dollar, but investors said the gains may be short-lived as bargain-hunting by foreigners' peters out. Market players also said the Bank of Japan's purchases of exchange-traded funds under an asset purchase programme adopted to bolster the economy was lending some support to the market ahead of the business year-end on Thursday. Inflows from passive funds and year-end window dressing by institutional investors were also cited as reasons that pushed the Nikkei considerably higher in afternoon trade. But now that the benchmark has regained more than half of the ground it lost in the postquake rout, foreign funds are buying less aggressively. "Foreigners have stopped piling into shares on dips, and are now mostly sidelined, waiting for more information on fundamentals and further developments at the nuclear plant," said Hideyuki Ishiguro, a supervisor at Okasan Securities in Tokyo. The Nikkei ended the day up 2.6 per cent, or 249.71 points, to 9,708.79. The broader Topix index advanced 1.9 percent to 866.09.

Tokyo Electric Power dropped another 18 per cent, adding to a slide to a 47-year low a day earlier as the government pondered whether to nationalise the operator of a stricken nuclear plant. "We believe the stock could go to zero, "an executive at a hedge fund with $1 billion invested in Asia told Reuters on condition he was not identified. His fund he said has been buying Tokyo Electric's debt because "we think the Japanese government will guarantee or nationalise it". The utility's credit default swaps have fallen sharply in the past few days, having hit a record high around 475 basis points on Monday. Still, the cost of insuring its debt against default is around 378, compared to 40 basis points before the quake. BANKS LOSE Banking stocks also felt Tokyo Electric's pain, slumping on worries about their loans to the company. "You have to look at all the banks that are lending to the company. It's obvious that investors are going to look at their situation with a huge dose of skepticism," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. See # 4 Page 11

ANNOUNCEMENT Company Faysal Bank

Period Yearly

Div/Bon/Right -

PAT (Rs in mn) 1,190.33

EPS(Rs) 1.63

US stocks mid-day

Wall Street climbs on job expectations NEW YORK: US stocks rose on Wednesday, as a private employment report did little to shake up expectations for Friday's payrolls data while investors positioned themselves for the quarter's end. The US labour market showed signs of further recovery in March, as private-sector employers added jobs and planned layoffs fell, according to data released on Wednesday. While the report may not hold predictive value for the government's broader non-farm payrolls report due on Friday, the reading was largely in line with expectations and failed to alarm investors. "At 200,000 or so, that number is not enough to excite the market one way or the other. If it indeed happens to be the number for payrolls on Friday," said John Canally, and economist for LPL Financial in Boston. See # 2 Page 11

Al Meezan announces dividend Shabbir Kazmi KARACHI: Al Meezan Investment Management (Al Meezan) has announced the third interim dividends for its three fixed income funds namely Meezan Sovereign Fund (MSF), Meezan Islamic Income Fund (MIIF) and Meezan Cash Fund (MCF). The payouts are in the form of Bonus Units to the Growth Unit holders and Cash Dividend to the Income Unit holders. A Growth Unit holder having 100 units of MSF as at March 28, 2011 will get 4.1992 additional units at the ex-dividend NAV of Rs50.01 while an Income Unit holder will get Cash Dividend of Rs2.10 per unit. MSF is the first Shariah compliant open end government securities fund in Pakistan. The annualized return for the period from January 01 to March 28, 2011 was 11.77 per cent. The current net assets of MSF are Rs10,159 million. See # 3 Page 11

Dhiyan

CRICKET OVER SHADOWS TRADING Mohammad Siddiq Dalal, Chairman, Dalal Securities Market likely to continue its positive activities during the coming days and index may touch 12,000 levels. Investors are advised to invest in oil, fertiliser and cement sectors. As far as triggers are concerned; improved law and order situation, successful meeting with IMF and good news from the political front during the meeting of Indo-Pak prime ministers would trigger the market. Market would be positive today.

Muhammad Ahsan Rasheed, Director, Research & Marketing AMJ Growth

Market outlook is positive but some selling pressure can be seen at 11,900 levels as market has been on the rise having touched 11,350 leves and some correction is due. Investors are advice to take positions in blue chip belonging to cement, banks & insurance sectors for short term investments. Result of the match and a positive development during meeting of the two prime ministers can spark a new spirit. Market would be positive today.


6

Thursday, March 31, 2011

Market

KSE 100 Index

Symbols

Volume

52,323,018

Value

3,022,558,462

Trades

41,619

Advanced Declined Unchanged Total

Current High Low Change

159 74 95 328

All Share Index

11,808.61 11,822.93 11,683.23 h97.21

Current High Low Change

8,225.91 8,236.88 8,141.84 h66.98

OIL AND GAS

Paid up Cap(mn)

Company Attock Petroleum Attock Refinery BYCO Petroleum

PE

Open

High

High Low 1,443.43 1,416.08 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.19 32.54 Low

Close Chg

691

6.57 360.95

364.00 360.00 363.42

853

5.09 125.07

126.00 123.46 124.96 -0.11

3921

-

9.27

9.68

9.25

9.36

2.47 0.09

Last 60 days High Low

Volume

2010 Div BR (%) (%) 300

321.00

963139

146.90

98.25

-

-

-

-

1595288

12.24

8.20

-

-

-

-

735

7.57 108.50

109.00 108.00 108.96

0.46

5014

141.65

99.46

31

6.34 296.38

308.00 294.50 305.87

9.49

372231

335.00

254.00

200

Pak Petroleum Pak Oilfields Pak Refinery Limited

11950

7.67 206.96

210.15 206.65 209.80

2365

7.53 326.16

329.39 324.00 326.78

350

P.S.O XD

1715

-

97.03

4.72 276.12

Shell Gas LPG

226

-

26.36

Shell PakistanSPOT

685 11.06 215.02

98.50

96.51

97.72

281.00 274.45 278.71

2.84

2011 Div BR (%) (%)

401.00

800

137.60 135.00 136.86 -0.07

% Change 0.56 5-Day High 1,435.92 5-Day Low 1,413.83

72489

Mari Gas Company XD

9.26 136.93

541063 439870

185.00

134.85

20B115.00

55

229.80

190.10

90

0.62

1238305 341.50

277.09

255

0.69

62921

122.22

83.00

-

-

- 23.43

-

-

-

-

- 15.00 20B 50.00

-

2.59

822114

317.79

265.00

80

- 50.00

-

0.43

1551

34.89

24.66

-

-

-

-

217.50 215.00 215.71

0.69

8395

222.00

186.83

120

-

-

-

26.00

Company

20,040.19 20,072.10 19,810.06 h199.91

High Low 733.80 692.90 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.33 25.53

Close 730.54 Listed cap 3,242.17 mn Payout (%) 11.08

Change 28.05 Market cap 12,317.91 mn Div Yield (%) 2.13

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1092 1321

7.10 8.52

70.32 30.67

73.83 31.45

69.00 30.90

73.83 30.67

229859 465

75.72 38.90

Pak Int Cont.Terminal PNSC

3.51 0.00

63.00 29.35

Company

Paid up Cap(mn)

Agritech Limited

Close 1,829.24 Listed cap 52,251.88 mn Payout (%) 48.81

Change 16.88 Market cap 391,775.23 mn Div Yield (%) 5.52

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

3924 22.67

22.67

22.10

22.02

22.67 0.00

101

26.73

93.25

93.00

BOC (Pak)

250

Clariant PakXDXB

341

Dawood HerculesXDXB 4813 Descon Chemical

High Low 1,837.50 1,807.47 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.09 35.00

1996

9.57

92.77

5.08 142.41 4.21 -

73.63 2.57

93.20 0.43

142.50 141.00 141.82 -0.59 76.31 2.70

73.11 2.61

75.20 1.57 2.68 0.11

464

% Change 0.93 5-Day High 1,829.24 5-Day Low 1,764.99

2010 Div BR (%) (%)

21.25

-

-

2011 Div BR (%) (%) -

Open 1,116.59 Turnover 105,556 P/E (x) 3.81 Company

Paid up Cap(mn)

82.00

60

-

213.30

140.00

135

25B

-

-

294.00

72.92

50 300B

-

-

18852

3.58

2.34

-

-

-

High Low 1,137.52 1,112.26 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.97 25.35

PE

Open

High

Low

101 5.58 626 9.86 890 56 4.74 598 4.85 450 200 5.83 1428 786 9.11 823 12.99

208.22 139.92 2.08 199.94 24.19 3.40 4.28 10.00 212.14 67.44

212.00 142.00 2.13 199.00 24.50 3.50 4.20 10.10 214.98 70.81

208.00 140.00 2.07 193.00 24.25 3.40 4.20 10.10 209.99 67.10

-

1020 11.47

8.68

8.83

8.66

8.72 0.04

470977

9.60

6.00

-

-

-

-

3663

2.81

2.90

2.75

2.77 -0.04

157629

3.45

2.26

-

-

-

-

Engro Corp.LtdXDXB

3933 11.31 205.37

1028152 238.50

189.00

60

20B

-

-

Engro Polymer

6635

Fatima Fertilizer

22000

Fauji Fertilizer

8482

Fauji Fert.Bin Qasim XD 9341 Ghani Gases Ltd ICI Pakistan Leiner Gelatine Lotte Pakistan XD Mandviwala

13.20 13.22

7.85

41.49

725 10.09

11.57

1388

Nimir Ind Chemical

-

8.32 133.02

9.50 165.18

13.95

13.55

13.62 0.42

13.60

13.00

13.43 0.21

135.70 132.85 135.28 2.26 41.75

41.31

41.62 0.13

11.80

11.44

11.50 -0.07

166.74 164.51 166.24 1.06

2934721

15.87

3212165

13.60

10.60

-

-

-

-

1713648 157.90

108.00

130

25B

-

-

1529616

11.56

43.99

35.28

- 27.5R

65.5

-

-

-

-

30751

13.07

10.43

-

-

-

-

419236

170.75

138.00

175

-

-

-

75

-

17.73

18.40

17.80

18.21 0.48

5.94

16.17

16.25

16.10

16.17 0.00

74

-

0.91

1.20

0.89

1.00 0.09

3049

2.45

0.57

-

-

-

-

1106 27.60

2.83

2.85

2.75

2.76 -0.07

110825

3.34

1.62

-

-

-

-

2.39

2.40

2.38

2.39 0.00

500

2.69

1.55

-

-

-

-

120

-

Sitara Peroxide

551

7.99

18.57

90

5.69

37.00

1030

18.42

9.15

-

1418504

16.80

13.40

5

-

-

Open 1,983.96 Turnover 49,451 P/E (x) 43.69

-

15142

Shaffi Chemical Wah-Noble

206.74 204.61 205.76 0.39

-

18.95

18.30

18.54 -0.03

1050352

19.65

11.81

-

-

-

-

37.00

37.00

37.00 0.00

393

41.99

35.11

50

-

-

-

FORESTRY AND PAPER

Company

Paid up Cap(mn)

PE

Open

Company

High Low 1,083.30 1,054.13 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.41 7.47

Close 1,059.50 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 50 411

8.50 6.70

16.78 37.48 38.50

17.00 38.84 38.50

16.60 36.55 37.50

16.78 0.00 36.90 -0.58 37.51 -0.99

386 1624 5997

Century Paper Pak Paper Product Security Paper

Close Chg

Close 1,122.74 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change 6.15 Market cap 41,565.36 mn Div Yield (%) 5.36

14.50 35.17 34.00

Company

Paid up Cap(mn)

Crescent Steel XD Dost Steels Ltd Huffaz Pipe XD International Ind

PE

Open

High

Low

565 2.82 675 555 433.33 1199 19.40

26.75 2.08 13.00 53.11

27.00 2.15 13.00 54.00

26.90 1.95 12.78 52.00

Close Chg 27.00 2.00 13.00 53.34

0.25 -0.08 0.00 0.23

Close 1,051.76 Listed cap 3,596.11 mn Payout (%) 30.91

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

20583 12002 200 83510

31.00 2.98 16.51 61.00

Last 60 days High Low

-

-

25.67 1.80 12.26 45.81

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints

Close 888.55 Listed cap 54,792.74 mn Payout (%) 19.04

2010 Div BR (%) (%) 30 40

2011 Div BR (%) (%)

- 10.00 25B 15.00 20B 15.00

-

Change 22.48 Market cap 63,664.02 mn Div Yield (%) 2.98

% Change 2.60 5-Day High 888.55 5-Day Low 844.38

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1828 866 858

6.62 -

2.60 51.74 2.25

2.75 52.40 2.40

2.53 51.70 2.05

2.68 0.08 52.28 0.54 2.10 -0.15

2028 9814 3012

3.70 63.35 3.19

2.15 48.50 1.99

- 100R 50 -

-

-

182

-

16.21

16.69

16.00

16.35 0.14

747

23.25

14.72

- 122R

-

-

2010 Div BR (%) (%)

2011 Div BR (%) (%)

7301 69357 2767259

Cherat Cement Dewan Cement DG Khan Cmt. Ltd XR

956 41.08 3891 3651 11.17

9.70 1.69 24.78

10.00 1.74 25.95

9.71 1.68 24.92

9.86 0.16 1.70 0.01 25.80 1.02

11.50 2.45 32.30

8.00 1.50 21.20

-

20R

-

20R

EMCO Ind Fauji Cement

350 6933

5.88

2.10 4.16

2.30 4.25

2.30 4.17

2.30 0.20 4.23 0.07

25000 58125

4.00 5.35

1.70 3.97

-

-

-

92R

Fecto Cement Flying Cement Ltd

502 1760

2.43 -

7.42 1.55

8.42 1.59

7.15 1.46

8.01 0.59 1.52 -0.03

62862 9002

8.42 1.95

6.30 1.30

-

-

-

-

Gharibwal Cement Javedan Cement

4003 581

-

6.03 60.50

6.00 60.95

6.00 60.95

6.00 -0.03 60.50 0.00

2500 200

8.40 64.52

4.70 56.17

-

-

-

-

Kohat Cement 1288 Lafarge Pakistan Cement13126

-

6.55 3.21

7.24 3.30

6.52 3.16

7.00 0.45 3.24 0.03

62412 266670

7.24 3.88

5.11 2.65

-

-

-

-

Lucky Cement Maple Leaf Cement

3234 5261

6.11 -

65.89 2.36

68.78 2.49

65.81 2.40

68.03 2.14 2.40 0.04

4951635 116677

78.00 2.99

59.55 1.92

40 -

-

-

-

Pioneer Cement Thatta Cement

2271 798 915.50

5.98 18.36

6.34 18.34

5.75 17.99

6.06 0.08 18.31 -0.05

89031 5000

7.45 19.19

5.17 16.20

-

50R

-

-

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 959.35 Turnover 157,653 P/E (x) 2.36 Company Cherat Papersack

Paid up Cap(mn)

PE

Open

High Low 997.60 971.79 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 1.04 43.91

High

Low

Close Chg

52.50

50.00

51.69 1.59

2.35

1.83

Close 980.19 Listed cap 3,043.31 mn Payout (%) 15.55

Volume

Change 20.83 Market cap 36,741.03 mn Div Yield (%) 6.59

Last 60 days High Low 80.90

47.80

% Change 2.17 5-Day High 980.19 5-Day Low 934.40

2010 Div BR (%) (%) 20

25B

2011 Div BR (%) (%)

115

2.37

50.10

ECOPACK Ltd

230

-

1.95

2.00 0.05

19682

2.99

1.56

-

-

-

-

MACPAC Films Merit Pack Packages Ltd

389 2.73 9.41 47 15.71 29.48 844 - 114.45

10.40 9.27 10.03 0.62 29.99 29.00 28.28 -1.20 120.17 114.00 119.96 5.51

93986 1902 11162

10.40 33.80 143.00

2.50 22.00 105.02

32.5

-

-

-

Tri-Pack Films XD

300

156.50 151.50 154.99 4.03

12448

156.50

120.70

100

-

-

-

9.40 150.96

18470

-

50R

INDUSTRIAL ENGINEERING High Low 1,563.10 1,544.28 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 2.88 38.02

Close 1,546.64 Listed cap 1,336.62 mn Payout (%) 131.49

Company

PE

Volume

Ados Pak

66

6.67

8.90

8.80

8.80

8.80 -0.10

501

17.70

8.50

-

-

-

-

Dewan Auto Engineering 214

-

1.25

1.40

1.25

1.26

6825

2.00

0.74

-

-

-

-

Ghandhara Ind

213

9.21

10.34

Hinopak Motor

124

KSB Pumps

132

6.59

Millat Tractors

366

7.88 512.64

57

- 113.92

Pak Engineering

- 105.00 49.83

10.50

Low

10.50

Close Chg

10.50

0.01

7085

13.50

8.25

772

138.00

102.00

-

-

-

-

261

63.89

49.00

12.5

-

-

-

515.99 511.00 511.59 -1.05

9456

568.40

466.27

650

25B325.00

-

118.23 108.23 108.76 -5.16

315

255.00

108.23

100

49.00

49.83

-

-

2011 Div BR (%) (%)

5.20

50.05

0.16

2010 Div BR (%) (%)

0.00

110.25 107.69 110.20

2011 Div BR (%) (%)

20B 15B - 50.00 -

-

High

High Low 2,014.81 1,967.21 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 13.24 30.30 Low

Close Chg

Close 2,001.62 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change 17.66 Market cap 279,441.20 mn Div Yield (%) 0.70

Last 60 days High Low

% Change 0.89 5-Day High 2,001.62 5-Day Low 1,909.95

2010 Div BR (%) (%)

2011 Div BR (%) (%)

14.03 6.54 3.25 23.41 11.60 73.60 3.21

-0.22 1.00 0.01 -0.02 0.21 0.00 0.01

2000 12571 1000 18576 3891 156 1330

20.50 6.54 4.10 33.55 12.60 92.40 6.50

13.55 4.07 2.52 20.25 10.80 68.00 2.65

25 25 25B 40 7010B 12.5R 10 -

-

-

National Foods Noon Sugar Pangrio Sugar Quice Food

414 165 109 107

10.26 1.63 6.52

55.89 15.65 4.31 2.85

58.68 15.21 4.40 3.20

56.50 15.21 4.01 2.85

58.68 15.21 4.31 2.87

2.79 -0.44 0.00 0.02

2635 500 244 6000

67.00 15.68 6.40 4.00

52.01 9.00 3.00 2.20

12 10 -

-

-

-

Shakarganj Mills

695

61.88

Total Assets (Rs in mn)

3,980.15

MA (10-day)

22.46

Total Equity (Rs in mn)

3,337.21

MA (100-day)

21.41

Revenue (Rs in mn)

1,845.02

MA (200-day)

21.83

Interest Expense

1st Support

23.51

Profit after Taxation

951.86

2nd Support

22.96

EPS 10 (Rs)

12.217

1st Resistance

24.80

Book value / share (Rs)

-

-

-

-

-

24.80

42.83

2nd Resistance

25.54

PE 11 E (x)

2.40

Pivot

24.25

PBV (x)

0.56

NETSOL closed up 0.05 at 24.02. Volume was 48 per cent above average and Bollinger Bands were 34 per cent narrower than normal. The company's profit after taxation stood at Rs417.574 million which translates into an Earning Per Share of Rs5.01 for the half year of current fiscal year (1HFY11). NETSOL is currently 10.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NETSOL (mildly bullish). Trend forecasting oscillators are currently bullish on NETSOL.

Sitara Peroxide Limited

0.45

6.27

6.60

6.28

6.27

0.00

299

7.05

4.01

-

-

-

-

Open 1,028.76 Turnover 121,501 P/E (x) 1.92 Company

High Low 1,047.45 1,029.04 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.20 10.64

Close 1,030.75 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

1219 231

3.57 1.70

14.14 12.89

14.47 13.15

14.11 12.85

14.19 0.05 12.86 -0.03

107211 14200

Pak Elektron Tariq Glass Ind

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

69.99

Total Assets (Rs in mn)

MA (10-day)

17.38

Total Equity (Rs in mn)

219.69

MA (100-day)

13.81

Revenue (Rs in mn)

727.02

MA (200-day)

11.45

Interest Expense

1st Support

18.25

Loss after Taxation

2nd Support

17.95

EPS 10 (Rs)

1st Resistance

18.90

Book value / share (Rs)

3.99

2nd Resistance

19.25

PE 11 E (x)

7.99

Pivot

18.60

PBV (x)

4.65

Company

Paid up Cap(mn)

(Colony) Thal AL-Qadir Textile Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Blessed Tex Mills Crescent Jute D S Ind Ltd Dar-es-Salaam Dawood Lawrencepur Dewan Khalid Textile Dewan Mushtaq Textile Din Textile Gadoon Textile XD Ghazi Fabrics Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Indus DyeingSPOT Janana D Mal Khalid Siraj Kohinoor Ind Kohinoor Textile Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Prosperity Quetta Textile Ravi Textile Regent Textile Reliance Weaving Saif Textile Sally Textile Salman Noman Sana Ind Sargoda Spinning Saritow Spinning Service Ind Service Textile Shahtaj Textile Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Zil Limited

56 76 2594 840 133 4493 33 76 76 141 64 238 600 80 514 57 34 204 234 326 635 146 222 716 3105 180 181 48 107 303 1455 145 1617 3516 560 185 130 250 48 308 264 88 42 55 312 133 120 44 97 180 307 418 215 53

PE 6.98 0.39 0.21 0.63 4.43 0.72 0.79 22.69 0.20 0.14 0.80 0.97 0.63 3.23 0.34 0.38 0.90 3.55 2.58 2.71 0.35 0.23 7.84 4.43 5.81 3.12 1.16 0.92 82.31 0.66 0.44 0.27 0.71 3.08 1.34 0.37 6.52 0.48 1.42 0.77 5.32 6.26 4.75

Open 2.20 9.80 2.49 20.00 2.73 8.69 15.41 21.12 510.18 0.95 58.00 1.00 1.27 2.55 45.20 1.50 3.88 30.00 97.38 4.75 43.83 7.76 10.20 4.42 48.98 4.55 301.23 15.40 1.20 1.50 4.28 0.40 29.02 65.00 19.74 14.71 51.00 1.00 22.52 12.50 9.00 7.15 3.58 38.85 4.40 1.78 180.80 0.50 22.00 37.50 106.78 48.55 0.52 65.30

High 2.70 9.80 2.52 19.95 2.50 8.81 16.41 22.17 518.00 0.95 60.90 0.97 1.37 3.50 47.00 1.79 4.29 31.50 102.24 5.00 46.02 8.65 10.40 4.50 49.00 4.90 316.28 16.40 1.28 1.68 4.70 0.55 29.25 65.89 20.49 14.70 53.00 1.01 21.40 12.80 9.44 7.26 3.26 40.79 4.93 1.99 179.90 0.50 22.50 39.37 107.89 50.97 0.54 65.50

High Low 985.39 963.79 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.57 8.64 Low 2.00 9.80 2.46 19.30 2.41 8.68 16.25 21.50 501.55 0.95 60.00 0.77 1.28 1.71 43.12 1.43 4.00 30.00 98.00 5.00 42.00 7.50 10.40 4.43 47.85 4.65 311.80 16.39 1.05 1.50 4.00 0.26 28.75 64.96 19.00 14.69 51.50 0.92 21.40 12.30 8.17 7.00 3.25 39.00 3.85 1.80 171.76 0.50 21.51 38.90 107.00 48.00 0.52 64.95

Close Chg 2.03 9.75 2.52 19.40 2.41 8.76 16.41 22.17 510.00 0.95 60.90 0.97 1.35 3.19 44.24 1.79 4.00 31.49 98.39 4.75 46.01 8.25 10.40 4.49 49.00 4.70 314.00 16.40 1.20 1.58 4.55 0.40 28.81 65.50 19.55 14.70 51.00 1.00 21.40 12.80 9.00 7.03 3.25 40.78 4.45 1.82 177.82 0.50 22.50 39.26 107.34 50.97 0.52 65.00

-0.17 -0.05 0.03 -0.60 -0.32 0.07 1.00 1.05 -0.18 0.00 2.90 -0.03 0.08 0.64 -0.96 0.29 0.12 1.49 1.01 0.00 2.18 0.49 0.20 0.07 0.02 0.15 12.77 1.00 0.00 0.08 0.27 0.00 -0.21 0.50 -0.19 -0.01 0.00 0.00 -1.12 0.30 0.00 -0.12 -0.33 1.93 0.05 0.04 -2.98 0.00 0.50 1.76 0.56 2.42 0.00 -0.30

Volume 3552 537 30610 2501 1500 321494 3400 34101 1272 1200 3021 1437 2319 44589 109072 5806 6001 2550 27369 200 758 721 500 9799 1003 13011 169 2000 1504 1502 27783 3929 715487 777697 25503 995 144 23153 500 1001 1200 9004 1000 1000 2301 1045 4640 1500 1500 6115 1400 71713 993 5350

Last 60 days High Low

2010 Div BR (%) (%) 17.5

12.07 12.50

10B -

2011 Div BR (%) (%) - 200R

% Change 0.03 5-Day High 977.27 5-Day Low 970.71

2010 Div BR (%) (%)

0.50 5.61 10 2.35 18.55 20 1.86 7.5 8.05 9.50 13.00 20 493.50 280 0.84 47.25 50 0.32 1.03 1.20 35.00 5 1.41 3.30 25.10 20 65.25 70 3.01 10 26.37 12.5 5.02 10 6.56 10 3.31 10 40.26 20 3.01 10 188.01 50 13.15 0.25 0.75 3.60 0.13 22.30 15 57.20 25 8.90 13.10 30 38.01 20 0.40 21.40 8.60 25SD 3.90 3.63 10 3.00 38.00 60 2.25 5 1.00 171.76 75 0.40 18.50 45 35.25 50 100.51 80 44.10 0.33 50.50 35

2011 Div BR (%) (%)

30B 15B 15B 10B 20B - 50.00 45R 5B 20B -

-

Performance of SR Pharma and Bio Tech Index Open 952.62 Turnover 646,897 P/E (x) 6.79 Company

Paid up Cap(mn)

PE

Open

High

High Low 971.94 946.50 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.51 22.31 Low

Close Chg

Close 965.43 Listed cap 3,904.20 mn Payout (%) 44.54

Volume

Change 12.82 Market cap 31,680.53 mn Div Yield (%) 6.56

Last 60 days High Low

% Change 1.35 5-Day High 965.43 5-Day Low 910.15

2010 Div BR (%) (%)

2011 Div BR (%) (%)

RSI (14-day)

59.82

Total Assets (Rs in mn)

MA (10-day)

17.76

Total Equity (Rs in mn)

6,785.66

MA (100-day)

16.70

Revenue (Rs in mn)

2,170.95

MA (200-day)

16.27

Interest Expense

1st Support

18.02

Profit after Taxation

2nd Support

17.62

EPS 09 (Rs)

1st Resistance

18.70

Book value / share (Rs)

22.62

2nd Resistance

18.98

PE 10 E (x)

47.74

12,372.62

Pivot

18.30

PBV (x)

0.00 269.91 0.90

0.82

PAKRI closed up 0.48 at 18.46. Volume was 44 per cent above average and Bollinger Bands were 9 per cent wider 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 13.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into PAKRI (mildly bullish). Trend forecasting oscillators are currently bullish on PAKRI.

NIB Bank Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

35.35

Total Assets (Rs in mn)

MA (10-day)

2.03

Total Equity (Rs in mn)

41,643.27

MA (100-day)

2.69

Revenue (Rs in mn)

18,272.36

MA (200-day)

2.81

Interest Expense

12,872.36

1st Support

2.01

Profit after Taxation

2nd Support

1.96

EPS 09 (Rs)

0.171

1st Resistance

2.10

Book value / share (Rs)

10.30

2nd Resistance

2.14

PE 10 E (x)

208,118.96

Pivot

2.05

PBV (x)

691.05

0.20

NIB closed down -0.04 at 2.03. Volume was 50 per cent below average (consolidating) and Bollinger Bands were 33 per cent narrower than normal. The company's loss after taxation stood at Rs10.112 billion which translates into a Loss Per Share of Rs2.50 for the year ended CY10. NIB is currently 27.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of NIB (bearish). Trend forecasting oscillators are currently bearish on NIB.

BOOK CLOSURES Company

From

To

Engro Polymer & Chemicals Saritow Spinning Mills # Azam Textile Mills # Sajjad Textile Mills # Balochistan P Board # Indus Dyeing & Mfg Yousuf Weaving Mills # Kohinoor Spinning Mills # Chakwal Spinning Mills # IBL Healthcare # First Credit & Investment Bank # Ruby Textile Mills # Hala Enterprises # Shell Pakistan BOC Pakistan Pak Gum & Chemicals Philip Morris Pakistan Pak Suzuki Motor Packages Ltd Glaxosmithkline Askari General Insurance IGI Insurance Bata Pakistan

31-Mar 31-Mar 31-Mar 01-Apr 01-Apr 01-Apr 01-Apr 01-Apr 01-Apr 02-Apr 04-Apr 04-Apr 05-Apr 05-Apr 09-Apr 11-Apr 12-Apr 12-Apr 12-Apr 13-Apr 14-Apr 15-Apr 15-Apr

14-Apr 06-Apr 06-Apr 08-Apr 08-Apr 07-Apr 08-Apr 08-Apr 08-Apr 08-Apr 12-Apr 11-Apr 12-Apr 19-Apr 22-Apr 18-Apr 21-Apr 18-Apr 20-Apr 20-Apr 20-Apr 26-Apr 21-Apr

D/B/R

Spot AGM/Date

28-Mar 01-Apr 25 5 (F) 32.5 40(F),15(B) 10(B) 20, 35 (B) 280 (F) 50(I) 80 (F) 45 (F)

14-Apr 31-Mar 31-Mar 08-Apr 08-Apr 08-Apr 08-Apr 08-Apr 08-Apr 12-Apr 11-Apr 12-Apr 19-Apr 22-Apr 18-Apr 21-Apr 18-Apr 20-Apr 20-Apr 20-Apr 21-Apr

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols TRG Pakistan Ltd.

Open

High

Low Close

Change

Vol

3.01

3.04

2.95

3.01

0

81984

Murree Brewery Co.

100.7

102.99

98

101

0.3

52033

151.67

154.48

146

146.03

-5.64

979 1707

7.15 17.42

85.90 86.10

86.79 89.00

85.00 86.10

85.94 88.50

0.04 2.40

2046 488915

110.20 89.00

78.59 68.00

50 40

15B

-

-

Shezan International

Highnoon (Lab) IBL HealthCare Ltd

165 200

7.26 4.65

29.44 11.72

30.91 11.90

30.10 11.80

30.91 11.80

1.47 0.08

71234 2001

30.91 12.80

24.50 7.16

25 -

10B -

-

-

P.I.A.C.(A)

Sanofi-Aventis XD Searle Pak

96 306

6.42 150.00 5.68 65.00

150.00 148.25 149.13 -0.87 65.03 63.00 64.99 -0.01

200 82427

174.00 69.00

134.00 58.05

100 30

-

-

-

Pace (Pak) Ltd.

Abbott (Lab) XD GlaxoSmithKline

Fundamental Highlights As on Dec 30, 2009

Technical Analysis Change 0.27 Market cap 133,252.67 mn Div Yield (%) 2.54

Last 60 days High Low 2.70 10.80 4.64 24.50 3.00 12.84 16.60 22.17 687.00 1.95 63.70 1.43 1.96 4.00 49.05 2.98 8.90 33.69 102.24 7.50 46.02 9.23 11.00 5.20 55.00 4.95 327.80 18.00 1.69 1.98 5.95 0.84 29.50 71.89 20.49 15.30 54.10 1.70 26.25 13.79 11.50 7.94 6.35 49.66 5.00 2.50 253.00 0.60 22.90 41.95 131.95 62.40 1.29 87.90

(3.251)

% Change 0.19 5-Day High 1,030.75 5-Day Low 986.32

15.88 24.00

Close 977.27 Listed cap 47,070.70 mn Payout (%) 16.68

243.27 (179.15)

Pakistan Reinsurance Co Ltd Change 1.99 Market cap 4,917.46 mn Div Yield (%) 3.26

Performance of SR Personal Goods Index Open 977.01 Turnover 2,318,857 P/E (x) 6.56

2,747.78

SPL closed down -0.03 at 18.54. Volume was 212 per cent above average (trending) and Bollinger Bands were 261 per cent wider than normal. The company's profit after taxation stood at Rs64.138 million which translates into an Earning Per Share of Rs1.16 for the half year of current fiscal year (1HFY11). SPL is currently 58.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SPL (mildly bullish). Trend forecasting oscillators are currently bullish on SPL.

Performance of SR Household Goods Index

% Change -0.27 5-Day High 1,559.49 5-Day Low 1,546.64

Last 60 days High Low

High

100 50 60 20 150 5

PHARMA AND BIO TECH

Change -4.12 Market cap 30,929.29 mn Div Yield (%) 17.35

Paid up Cap(mn)

Open

2010 Div BR (%) (%)

14.00 6.38 3.25 23.03 11.45 73.50 3.20

Performance of SR Industrial Engineering Index Open 1,550.76 Turnover 25,315 P/E (x) 7.58

180.00 120.30 1.50 170.11 21.08 2.82 3.71 9.52 207.00 60.00

14.25 6.54 3.25 23.60 11.60 74.88 3.45

% Change 0.44 5-Day High 1,051.76 5-Day Low 1,026.38

CONSTRUCTION AND MATERIALS High Low 898.55 865.02 Total cos Defaulter cos 37 6 P/BV (x) ROE (%) 0.45 7.10

213.89 144.00 2.54 217.44 26.74 5.36 5.49 12.87 309.73 74.80

14.25 5.54 3.24 23.43 11.39 73.60 3.20

2011 Div BR (%) (%)

Performance of SR Construction and Materials Index Open 866.07 Turnover 8,508,694 P/E (x) 6.38

6755 1416 13500 1852 1650 16500 1002 2000 21337 39349

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

PERSONAL GOODS

Change 4.64 Market cap 9,933.09 mn Div Yield (%) 9.70

Last 60 days High Low

Volume

1.78 2.08 -0.01 -6.53 0.27 0.10 -0.08 0.10 -1.79 3.37

4.18 9.29 7.07 1.30 -

Performance of SR Industrial Metals and Mining Index High Low 1,058.05 1,032.89 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 1.05 33.10

210.00 142.00 2.07 193.41 24.46 3.50 4.20 10.10 210.35 70.81

% Change 0.55 5-Day High 1,122.74 5-Day Low 1,086.10

58 87 365 750 200 539 141

% Change -1.47 5-Day High 1,075.32 5-Day Low 1,059.50

INDUSTRIAL METALS AND MINING Open 1,047.11 Turnover 116,383 P/E (x) 3.19

-

HOUSEHOLD GOODS Change -15.82 Market cap 2,921.85 mn Div Yield (%) 4.63

Last 60 days High Low 19.69 47.98 47.19

-

Adam Sugar Bawany Sugar Dewan Sugar Habib Sugar Habib-ADM Ltd J D W Sugar Mirza Sugar

Performance of SR Forestry & Paper Index Open 1,075.32 Turnover 8,007 P/E (x) 5.46

2011 Div BR (%) (%)

-

Performance of SR Food Producers Index

-

Descon Oxychem Ltd.

40 15

FOOD PRODUCERS

-

Dewan Salman

-

Atlas Battery Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki

-

103.94

2827 235139

2010 Div BR (%) (%)

AUTOMOBILE AND PARTS

CHEMICALS Performance of SR Chemicals Index Open 1,812.36 Turnover 11,107,969 P/E (x) 8.84

NetSol Technologies Limited

% Change 3.99 5-Day High 730.54 5-Day Low 673.61

Performance of SR Automobile and Parts Index

-

-100.00 -

-

Open 702.49 Turnover 230,324 P/E (x) 5.21

-

26.79

26.79

Current High Low Change

11,542.87 11,556.83 11,420.53 h113.23

Alert ! Unusual Movements

Performance of SR Industrial Transportation Index

Close Change 1,435.92 8.06 Listed cap Market cap 65,194.15 mn 1,055,150.27 mn Payout (%) Div Yield (%) 55.94 5.71

National Refinery

Oil & Gas Development 43009

Current High Low Change

KMI 30 Index

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,427.86 Turnover 4,527,092 P/E (x) 9.79

KSE 30 Index

Pak Tobacco AKD Capital Limited Netsol Technologies

93.04

1012

95.5

93.01

93.04

0

136

2.8

2.88

2.55

2.57

-0.23

97986

40.13

42.13

39.5

39.63

-0.5

1230

3.05

3.24

3.05

3.19

0.14

375102

23.97

24.99

23.7

24.02

0.05

965065


7

Thursday, March 31, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,003.36 Turnover 492,515 P/E (x) 5.46 Paid up Cap(mn)

Company

Pak Datacom XD Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

High Low 1,011.67 997.43 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.70 12.84

PE

Open

High

Low

Close Chg

78 5.38 37740 11.33 3000 1.23 8606 6175 -

48.00 17.01 1.91 2.60 2.99

49.75 17.15 1.94 2.60 2.99

49.40 16.95 1.85 2.52 2.85

49.45 17.00 1.87 2.59 2.97

1.45 -0.01 -0.04 -0.01 -0.02

Close 1,002.28 Listed cap 50,077.79 mn Payout (%) 62.56

Volume 1056 259621 31764 200074 16058

Change -1.08 Market cap 69,169.51 mn Div Yield (%) 11.47

% Change -0.11 5-Day High 1,003.36 5-Day Low 994.86

Last 60 days High Low

2010 Div BR (%) (%)

82.39 20.65 2.48 3.11 4.65

80 17.5 1 -

45.05 16.61 1.60 2.15 2.65

2011 Div BR (%) (%)

- 15.00 -

-

Ask Gen Insurance Atlas InsuranceXDXB Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB Shaheen Insurance Silver Star Insurance United Insurance XB

255 4.72 11.00 443 4.28 27.75 279 6.30 106.03 457 6.44 10.34 1250 - 34.56 400 3.32 13.76 718 8.59 100.00 791 11.96 68.04 3000 47.33 17.98 303 6.48 12.32 252 3.88 7.86 200 - 12.06 253 4.88 6.77 400 2.20 7.22

Paid up Cap(mn)

Genertech Hub Power XD Japan Power KESC Kohinoor Energy Kot Addu Power XD Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric Tri-star Power XD

198 11572 1560 7932 1695 8803 3673 3541 191 1367 150

High Low 1,370.92 1,337.38 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.28 9.35

Close 1,358.10 Listed cap 95,369.29 mn Payout (%) 104.13

Change 13.95 Market cap 104,720.46 mn Div Yield (%) 7.63

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

6.93 7.79 5.28 3.21 2.51 5.18 -

0.65 37.25 1.40 2.53 17.78 41.05 15.95 17.25 17.00 1.70 0.63

0.69 38.14 1.42 2.62 17.92 41.19 16.35 17.46 17.00 1.75 0.72

0.60 37.05 1.30 2.51 17.89 40.97 15.81 17.10 16.90 1.67 0.72

0.65 0.00 37.83 0.58 1.37 -0.03 2.53 0.00 17.92 0.14 41.10 0.05 15.99 0.04 17.17 -0.08 17.00 0.00 1.68 -0.02 0.72 0.09

111 760065 11105 103661 600 359766 669432 233209 11000 21129 4900

0.98 41.20 1.89 3.55 21.00 45.85 18.01 18.70 19.25 2.39 1.31

% Change 1.04 5-Day High 1,358.10 5-Day Low 1,330.34

2010 Div BR (%) (%)

0.55 35.90 1.25 2.31 16.00 40.26 14.05 14.85 16.40 1.41 0.31

50 15 50 20 -

2011 Div BR (%) (%)

- 25.00 7.8R - 10.00 - 30.00 -

Paid up Cap(mn)

Paid up Cap(mn)

Sui North Gas Sui South Gas

PE

5491 11.88 8390 3.66

Open

High

19.72 24.27

20.25 24.60

High Low 1,420.31 1,389.78 Total cos Defaulter cos 2 P/BV (x) ROE (%) 1.04 11.41 Low 19.64 24.25

Close Chg 20.20 0.48 24.30 0.03

Close 1,409.30 Listed cap 12,202.80 mn Payout (%) 66.79

Volume 116043 9124

Last 60 days High Low 29.39 27.90

% Change 1.17 5-Day High 1,409.97 5-Day Low 1,392.97

2010 Div BR (%) (%)

19.11 20.95

20 15

2011 Div BR (%) (%)

25B

-

-

BANKS

Paid up Cap(mn)

Company

PE

Open

Allied Bank Ltd.XDXB Askari Bank XB Bank Alfalah Bank AL-HabibXDXB Bank Of Khyber Bank Of Punjab BankIslami Pak Faysal Bank Habib Bank LtdXDXB

8603 5.73 60.93 7070 5.87 12.41 13492 7.30 9.69 8786 5.96 29.36 5004 3.74 4.17 5288 5.97 5280 41.89 3.76 7327 7.06 12.45 11021 6.82 107.32 Habib Metropolitan Bank XB 10478 6.02 19.23 JS Bank Ltd 8150 2.75 KASB Bank Ltd 9509 1.41 MCB Bank LtdXDXB 8362 9.27 201.38 Meezan Bank XB 8030 7.20 16.95 Mybank Ltd 5304 1.99 National BankXDXB 16818 5.01 56.90 NIB Bank 40437 2.07 Samba Bank 14335 1.64 Silkbank Ltd 26716 2.08 Soneri Bank 6023 28.67 6.10 Stand Chart Bank XD 38716 8.91 8.30 Summit Bank Ltd 7251 2.51 United Bank Ltd XD 12242 7.20 60.82

High

High Low Close 1,155.29 1,128.46 1,146.38 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.01 13.94 40.49 Low

Close Chg

62.00 60.11 60.74 -0.19 12.47 12.30 12.33 -0.08 9.99 9.55 9.85 0.16 29.70 29.10 29.32 -0.04 4.25 4.16 4.23 0.06 6.15 5.95 5.99 0.02 3.82 3.62 3.77 0.01 12.40 11.45 11.50 -0.95 110.00 107.11 109.13 1.81 19.85 19.00 19.67 0.44 2.82 2.68 2.72 -0.03 1.45 1.36 1.45 0.04 206.25 202.00 205.71 4.33 17.00 17.00 17.00 0.05 2.20 1.91 1.91 -0.08 57.50 56.96 57.36 0.46 2.09 2.00 2.03 -0.04 2.04 1.67 1.67 0.03 2.14 2.05 2.11 0.03 6.02 6.00 6.02 -0.08 8.49 8.12 8.46 0.16 2.75 2.50 2.55 0.04 61.29 60.50 61.24 0.42

Volume

Change 13.07 Market cap 673,048.46 mn Div Yield (%) 5.59

Last 60 days High Low

9526 74.00 35034 19.25 775357 11.99 77669 39.49 46185 4.65 1334063 10.23 28081 4.50 287047 16.40 80757 131.00 30878 29.10 32502 3.16 22272 2.60 651624 250.48 750 20.30 1005 3.40 2741050 81.78 874964 3.35 32965 2.12 56966 3.05 18224 8.30 20143 9.90 46988 4.63 122319 70.39

% Change 1.15 5-Day High 1,146.38 5-Day Low 1,111.46

2010 Div BR (%) (%)

57.00 12.13 8.75 26.95 3.30 5.95 3.06 10.69 104.16 18.50 2.30 1.36 192.20 16.26 1.70 54.85 1.90 1.50 2.02 5.00 6.28 2.36 56.70

40 10B - 10B 20 20B - 20B 65 10B - 20B - 66R 85 10B - 15B 75 25B -154.79R -63.46R 6 50 -

-

-

NON LIFE INSURANCE

Paid up Cap(mn)

Company Adamjee Insurance

High Low 767.60 749.48 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.67 5.20

Close 760.20 Listed cap 11,111.34 mn Payout (%) 79.54

Change 8.88 Market cap 48,532.54 mn Div Yield (%) 6.15

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 17.79

73.51

74.75

73.30

74.55 1.04

267526

96.40

% Change 1.18 5-Day High 760.20 5-Day Low 730.52

2010 Div BR (%) (%)

68.92

25

2011 Div BR (%) (%)

-

-

-

High Low 774.21 748.47 Total cos Defaulter cos 4 P/BV (x) ROE (%) 2.95 3.85

Close 769.04 Listed cap 2,290.72 mn Payout (%) 355.53

Change 2.05 Market cap 9,008.45 mn Div Yield (%) 4.63

% Change 0.27 5-Day High 772.18 5-Day Low 744.68

High

Low

Close Chg

Volume

Last 60 days High Low

60.60

61.00

59.50

60.36 -0.24

11658

79.80

51.31

50

-

-

-

New Jub Life Insurance XD627 20.47

47.05

2010 Div BR (%) (%)

2011 Div BR (%) (%)

47.90

45.00

47.89 0.84

1455

49.00

39.05

15

-

-

-

FINANCIAL SERVICES Performance of SR Financial Services Index Open 331.38 Turnover 865,419 P/E (x) 11.50

High Low 339.97 331.82 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.22 0.91

Close 334.83 Listed cap 30,336.44 mn Payout (%) 99.56

Change 3.45 Market cap 16,003.56 mn Div Yield (%) 4.08

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

225

1.25

0.58

0.61

0.57

0.60 0.02

22528

0.93

0.33

360

3.99

23.00

23.68

23.20

23.49 0.49

13300

24.86

450 17.11 3750 5.04

20.28 25.02

20.88 26.14

20.15 25.15

20.87 0.59 25.82 0.80

8210 4784380

28.00 30.20

3.33 2.00

3.26 2.25

3.25 2.00

3.25 -0.08 2.00 0.00

25000 46971

AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp

First Credit & Invest Bank Ltd 650

Last 60 days High Low

Volume

% Change 1.04 5-Day High 334.83 5-Day Low 329.01

2010 Div BR (%) (%)

2011 Div BR (%) (%)

-

-

17.01

-

20B

-

-

18.31 18.75

30

20B -

-

-

4.45 2.99

2.30 1.90

-

-

-

-

IGI Investment Bank

2121

9.09

Invest Bank

2849

-

0.50

0.50

0.50

0.50 0.00

3500

1.09

0.31

-

-

-

-

Ist Cap Securities Ist Dawood Bank

3166 626

0.80

3.10 1.60

3.10 1.70

3.09 1.50

3.09 -0.01 1.52 -0.08

3068 11112

3.79 2.00

2.90 1.24

-

10B -

-

-

Jah Siddiq Co JOV and CO JS Investment

7633 508 775.00 1000 -

8.60 3.05 5.80

8.76 3.29 6.00

8.57 3.01 5.82

8.72 0.12 3.10 0.05 5.85 0.05

683233 23639 1520

12.80 4.49 7.40

8.01 2.58 5.00

10 -

-

-

-

KASB Securities Orix Leasing Pervez Ahmed Sec Stand Chart Leasing

1000 821 775 978

4.72 5.75 1.84 2.50

4.89 5.90 1.89 2.94

4.52 5.89 1.82 2.65

4.67 5.90 1.84 2.87

13821 1502 31760 1221

5.43 6.75 2.49 3.00

3.75 5.25 1.21 1.67

-

-

-

-

7.66 4.10 3.83 3.88

-0.05 0.15 0.00 0.37

UPTO 100 VOLUME Symbols

Open

PKGI KOSM AGTL AGIL LEUL CLOV SAZEW DIIL NESTLE STPL PMPK SAPT FEROZ PASM BAPL BUXL RMPL PIL IDSM WAZIR SMTM IFSL SMBLR SHJS DBCI NBF TSMF PAKMI GLPL GRAYS FECM FNEL JSGCL SMCPL COLG FCONM FFLM ELSM MTIL SHFA SIBL SIEM SITC FDMF FZTM ILTM SHTM JOPP ULEVER UDPL FIBLM DCM DEL CWSM HMIM SHCM YOUW ALNRS SASML MFFL HADC

9.00 1.19 202.68 71.01 2.10 59.03 23.50 9.00 3289.65 9.00 245.19 111.52 91.90 13.35 7.73 9.00 2300.95 11.60 9.25 6.14 5.45 6.40 0.01 65.56 1.65 4.74 1.01 0.90 56.21 45.93 2.75 4.45 22.03 5.02 759.03 1.20 1.41 26.56 0.40 29.25 2.65 1051.00 107.01 2.10 389.44 210.50 0.45 7.93 4904.86 14.87 1.62 1.29 1.52 1.30 1.00 13.90 1.20 40.02 8.00 69.00 0.50

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,456.86 Turnover 399,705 P/E (x) 20.92 Paid up Cap(mn)

Company Allied Rental

PE

600

4.04

Open 17.74

High 18.19

High Low 1,480.34 1,448.64 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.46 2.21 Low

Close Chg

18.19

18.19 0.45

Close 1,467.91 Listed cap 29,771.58 mn Payout (%) 104.74

Change 11.05 Market cap 18,869.54 mn Div Yield (%) 7.78

Last 60 days High Low

Volume 500

18.19

15.00

% Change 0.76 5-Day High 1,467.91 5-Day Low 1,445.01

2010 Div BR (%) (%) 22.5

2011 Div BR (%) (%)

-

-

-

AL-Meezan Mutual F.XD 1375

4.13

10.15

10.29

10.10

10.25 0.10

8075

11.50

8.21

18.5

-

5.00

-

AL-Noor Modaraba

210

1.89

3.25

3.50

3.50

3.25 0.00

190

3.50

2.85

5

-

-

-

Atlas Fund of Funds

525

1.81

6.85

6.80

6.75

6.79 -0.06

176500

6.97

4.25

2.2

-

-

-

B R R Guardian Mod.

780

2.03

1.69

1.88

1.87

1.87 0.18

5002

1.90

1.12

0

-

-

-

Crescent St Modaraba

200

1.18

0.51

0.52

0.48

0.52 0.01

10511

0.80

0.40

1.2

-

-

-

Equity Modaraba

524

1.10

1.66

1.95

1.66

1.80 0.14

12102

2.98

1.44

-

-

-

-

Golden Arrow

760

1.51

3.20

3.29

3.11

3.29 0.09

2936

3.89

2.92

17

-

-

-

H B L Modaraba

397

3.88

7.89

7.92

7.92

7.92 0.03

600

9.00

6.81

11

-

-

-

Habib Modaraba

1008

6.49

7.27

7.60

7.50

7.53 0.26

2607

7.79

6.65

21

-

-

-

JS Growth Fund

3180

2.33

6.21

6.28

6.00

6.06 -0.15

9302

6.47

4.65

5

-

-

-

JS Value Fund

1186

1.32

5.40

5.50

5.40

5.50 0.10

28341

6.61

4.20

10

-

-

-

Meezan Balanced Fund

1200

2.63

9.35

9.16

9.16

9.16 -0.19

2000

10.24

7.31

15.5

-

-

-

Mod Al-Mali

184 13.00

1.20

1.40

1.22

1.30 0.10

2002

2.50

1.00

-

-

-

-

Nat Bank Modaraba

250

7.06

5.85

5.93

5.92

5.93 0.08

600

7.00

4.80

10

-

-

-

PICIC Energy Fund XD 1000

3.04

7.33

7.35

7.34

7.35 0.02

10150

8.83

6.37

10

- 10.00

-

PICIC Growth Fund XD 2835

3.71

12.27

12.48

12.20

12.40 0.13

18200

16.49

12.00

20

- 12.50

-

PICIC Inv Fund XD

2841

2.93

5.19

5.50

5.15

5.39 0.20

2606

7.95

5.10

10

-

7.50

-

Prud Modaraba 1st

872

1.92

1.00

1.00

1.00

1.00 0.00

105500

1.20

0.80

3

-

-

-

Stand Chart Modaraba

454

5.08

9.60

10.15

9.95

9.95 0.35

501

10.63

9.21

17

-

-

-

Tri-Star 1st Modaraba

212 22.50

1.30

0.90

0.76

0.90 -0.40

578

2.25

0.61

-

-

-

-

Trust Modaraba

298

2.39

2.01

2.20

2.20

2.01 0.00

400

2.49

1.16

5

-

-

-

U D L Modaraba XD

264

2.34

6.50

6.65

6.65

6.50 0.00

450

7.25

5.67

12.5

-

7.50

-

High 10.00 1.30 204.00 72.20 1.99 61.95 23.70 9.49 3400.00 8.80 233.01 110.88 93.90 14.24 8.50 9.99 2410.00 12.25 9.69 5.50 6.29 6.50 0.01 68.83 1.85 4.10 1.64 1.10 57.50 46.00 3.25 5.24 22.35 5.84 721.08 1.89 1.75 27.74 0.59 30.70 3.00 1103.54 108.90 2.19 369.97 221.02 0.35 7.20 4920.00 14.70 1.50 1.60 1.69 1.69 1.00 14.90 1.39 42.02 9.00 72.40 0.59

Low

Close

10.00 1.30 204.00 72.20 1.99 61.95 23.70 9.45 3126.15 8.80 233.01 106.00 91.50 14.24 8.40 9.99 2375.00 11.65 8.26 5.50 5.55 6.45 0.01 68.83 1.65 4.10 1.64 1.10 57.50 46.00 2.65 5.24 22.10 5.01 721.08 1.89 1.75 27.74 0.59 30.70 2.99 1103.50 107.00 2.19 369.97 221.02 0.35 7.15 4920.00 13.87 1.50 1.60 1.69 1.69 1.00 14.90 1.39 42.02 9.00 72.40 0.59

9.00 1.19 202.68 71.01 2.10 59.03 23.50 9.00 3365.64 9.00 245.19 111.52 91.90 13.35 7.73 9.00 2396.94 11.60 9.25 6.14 5.45 6.40 0.01 65.56 1.65 4.74 1.01 0.90 56.21 45.93 2.75 4.45 22.03 5.02 759.03 1.20 1.41 26.56 0.40 29.25 2.65 1051.00 107.01 2.10 389.44 210.50 0.45 7.93 4904.86 14.87 1.62 1.29 1.52 1.30 1.00 13.90 1.20 40.02 8.00 69.00 0.50

Change

Vol

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 75.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 95.99 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 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

100 100 100 100 100 98 95 90 89 88 84 80 74 60 50 50 31 21 18 15 12 11 11 11 11 10 10 10 10 10 9 9 9 7 6 5 5 5 5 5 3 3 3 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Open

NBP-APR

57.54

DGKC-APR POL-APR

2011 Div BR (%) (%)

Performance of SR Non Life Insurance Index Open 751.32 Turnover 1,707,460 P/E (x) 12.94

25R -

Open

Company

Change 16.33 Market cap 31,478.85 mn Div Yield (%) 7.33

Performance of SR Banks Index Open 1,133.32 Turnover 7,279,381 P/E (x) 7.24

-

PE

GAS WATER AND MULTIUTILITIES

Company

-10B 25R - 20B 25 50B 12.5 30 55B 35 25B - 12.5B - 15B -

850 14.14

Company EFU Life Assurance

-

Performance of SR Gas Water and Multiutilities Index Open 1,392.97 Turnover 125,167 P/E (x) 9.12

9.51 26.60 61.30 8.90 32.25 11.72 88.11 56.00 13.80 10.10 6.20 8.85 6.01 5.50

LIFE INSURANCE Open 766.99 Turnover 13,113 P/E (x) 5.45

Performance of SR Electricity Index

Company

1195 11.80 2054 42.90 184300 111.33 27357 11.99 20337 45.00 50851 15.50 3620 102.44 101 70.70 1081100 19.40 12246 13.27 6822 8.25 17414 14.20 31751 8.20 665 7.90

Performance of SR Life Insurance Index

ELECTRICITY Open 1,344.15 Turnover 2,174,978 P/E (x) 13.65

11.50 11.00 11.00 0.00 28.80 27.75 28.14 0.39 111.33 105.00 110.86 4.83 10.60 10.15 10.30 -0.04 35.09 34.60 34.92 0.36 13.95 13.45 13.93 0.17 100.00 99.00 100.00 0.00 69.99 69.98 68.04 0.00 18.58 17.90 18.46 0.48 13.27 11.66 11.99 -0.33 8.05 7.80 8.00 0.14 13.06 11.75 12.99 0.93 7.19 6.81 7.17 0.40 6.70 6.70 6.70 -0.52

High

Low

58.09

Change

Vol

57.96

0.42

628000

26.20

25.11

26.05

1.03

600500

331.40

326.50

329.41

0.49

468000

FFBL-APR

41.77

41.99

FFC-APR

134.28

136.70

ENGRO-APR 207.43

57.45

Close

25.02 328.92

41.59

41.88

133.60

136.39

2.11

234000

208.50

206.60

208.03

0.60

224000

LUCK-APR

66.52

69.45

66.16

68.82

2.30

215500

MCB-APR

202.91

207.95

203.54

207.13

4.22

189500

66.02

0.62

67000

65.50

235000

NML-APR

65.40

PPL-APR

208.91

211.40

208.00

210.71

1.80

63500

ATRL-APR

125.65

126.70

124.55

126.18

0.53

62000

HUBC-APR

37.84

37.84

37.84

37.84

0.00

UBL-APR

61.00

61.50

60.50

61.50

0.50

4000

PTC-APR

17.23

17.20

17.17

17.20

-0.03

2000

ABL-CMAY

62.69

0.00

0.00

62.47

-0.22

HBL-CMAY 110.41

0.00

0.00

112.23

1.82

0.00

AICL-CMAY

0.00

0.00

76.67

1.04

0.00

75.63

66.40

0.11

9000

0.00

MTS LEVERAGE POSITION Symbol AHCL AICL AKBL ANL ATRL ENGRO FFBL FFC LOTPTA LUCK MCB NBP NML OGDC PAKRI POL PPL PSO PTC SSGC TOTAL

Total Volume 80,000 4,000 12,000 101,100 146,267 651,000 421,000 21,500 2,639,000 202,300 13,000 31,905 5,000 500 1,000 175,400 5,000 500 50 90,000 4,600,522

Total Value 1,445,513 220,500 111,720 661,903 13,365,044 100,155,296 13,093,328 2,145,495 31,574,763 10,021,391 1,978,500 1,366,120 239,618 50,738 12,773 42,453,656 776,250 102,739 632 1,638,225 221,414,201

MTS Rate 22 21 18 18 18 18 18.72

BOARD MEETINGS

Lucky Cement Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

50.93

Support 1

11,720.25

MA (5-day)

11,643.88

Support 2

11,631.90

MA (10-day)

11,634.21

Resistance 1

11,859.95

MA (100-day)

11,781.62

Resistance 2

11,911.30

Target Price

Recommendations

Brokerage House

Recommendations

144

Buy

Target Price

Recommendations

Brokerage House

Buy

Arif Habib Ltd

28.72

Buy

AKD Securities Ltd

60.4

TFD Research

36.45

Positive

TFD Research

92.3

Technical Outlook Technical Analysis

Leverage Position

Technical Outlook Technical Analysis

Brokerage House

Target Price

Arif Habib Ltd

37

Recommendations Sell

Leverage Position

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

58.94 23.91 27.96 26.72 Free Float Shares (mn) 200.80

MTS Shares MTS Rs MTS Rate ** NOI Rs (mn) Free Float Rs (mn)

N/A N/A N/A 90.38 5,180.76

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

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

25.77 MTS Shares 31,905 64.94 MTS Rs 1,366,120 72.20 MTS Rate 17.97 68.90 ** NOI Rs (mn) 94.68 Free Float Shares (mn) 398.12 Free Float Rs (mn) 22,836.30 Target price for Dec-11 & **Net Open Interest in future market

Bollinger Bands were 294 per cent wider than normal.

DGKC is currently 3.5 per cent below its 200-day moving average and is NBP is currently 16.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the displaying an upward trend. Volatility is extremely low when compared to average volatility over the last 10 trading sessions. Volume indicators reflect the average volatility over the last 10 trading sessions. Volume indicators volume flowing into and out of NBP at a relatively equal pace. Trend forecastreflect volume flowing into and out of DGKC at a relatively equal pace. ing oscillators are currently bearish on NBP. Momentum oscillator is currently Trend forecasting oscillators are currently bullish on DGKC.

indicating that NBP is currently in an oversold condition.

Engro Corporation

Pakistan Oilfields Ltd

Brokerage House

Target Price

Recommendations

359

Buy

Arif Habib Ltd

Brokerage House

AKD Securities Ltd

45.52

Accumulate

AKD Securities Ltd

322.42

Neutral

AKD Securities Ltd

Neutral

TFD Research

44.25

Neutral

TFD Research

363.65

Positive

TFD Research

Technical Outlook

Technical Outlook Leverage Position

Technical Analysis

Leverage Position

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

56.50 MTS Shares 421,000 39.95 MTS Rs 13,093,328 38.22 MTS Rate 33.21 ** NOI Rs (mn) 71.85 Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,607.18 Target price for Dec-11 & **Net Open Interest in future market

Technical Analysis

Leverage Position

58.61 MTS Shares 175,400 319.73 MTS Rs 42,453,656 301.10 MTS Rate 18.41 264.60 ** NOI Rs (mn) 342.08 Free Float Shares (mn) 107.94 Free Float Rs (mn) 35,273.60 Target price for Dec-11 & **Net Open Interest in future market

Recommendations

224

Buy

195.41

Neutral

245.4

Positive

Technical Outlook

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

Target Price

Arif Habib Ltd

Reduce

129.4

Technical Analysis

Leverage Position

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

45.52 MTS Shares 651,000 199.81 MTS Rs 100,155,296 202.01 MTS Rate 190.10 ** NOI Rs (mn) 156.10 Free Float Shares (mn) 176.98 Free Float Rs (mn) 36,414.97 Target price for Dec-11 & **Net Open Interest in future market

FFC closed up 2.26 at 135.28. Volume was 26 per cent below average and FFBL closed up 0.13 at 41.62. Volume was 76 per cent below average POL closed up 0.62 at 326.78. Volume was 44 per cent below average and ENGRO closed up 0.39 at 205.76. Volume was 61 per cent below average Bollinger Bands were 37 per cent narrower than normal.

(consolidating) and Bollinger Bands were 39 per cent wider than normal.

Bollinger Bands were 60 per cent narrower than normal.

(consolidating) and Bollinger Bands were 158 per cent wider than normal.

FFC is currently 15.1 per cent above its 200-day moving average and is FFBL is currently 25.3 per cent above its 200-day moving average and is POL is currently 23.5 per cent above its 200-day moving average and is ENGRO is currently 8.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is high 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 volume 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 FFC (mildly bullish). Trend forecast- flowing into and out of FFBL at a relatively equal pace. Trend forecasting reflect moderate flows of volume into POL (mildly bullish). Trend forecast- erate flows of volume into ENGRO (mildly bullish). Trend forecasting osciling oscillators are currently bullish on FFC.

oscillators are currently bearish on FFBL.

ing oscillators are currently bullish on POL.

lators are currently bearish on ENGRO.

Time

31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 01-Apr 02-Apr 02-Apr 04-Apr 04-Apr 04-Apr 05-Apr 05-Apr 05-Apr 05-Apr 05-Apr 05-Apr 20-Apr 22-Apr 22-Apr

2:00 10:00 11:30 11:30 11:30 11:00 2:00 11:30 11:00 2:30 11:30 11:30 11:30 12:15 12:15 12:15 12:15 12:30 10:00 -

TECHNICAL LEVELS

Positive

Leverage Position

DGKC closed up 1.02 at 25.80. Volume was 29 per cent below average NBP closed up 0.46 at 57.36. Volume was 40 per cent below average and and Bollinger Bands were 32 per cent narrower than normal.

Date

Ghani Value Glass Ltd United Insur Shahtaj Sugar Mills Ltd Singer Pak Ltd Crescent Star Insur Comp Ltd Premier Insur Ltd Pak Reinsur Comp Ltd The Universal Insur Co Ltd Asian Insur Comp Ltd Salman Noman Ltd Kasb Bank Ltd BMA Savings Fund BMA Cash Fund Pak Oman Advantage Pak Oman Advantage Pak Oman Advantage Pak Oman Advantage Fund Kot Addu Power Comp Ltd Unilever Pak Ltd BOC Pak Ltd

Accumulate

Technical Outlook

120.7

56.70 MTS Shares 21,500 130.11 MTS Rs 2,145,495 128.47 MTS Rate 21.00 117.58 ** NOI Rs (mn) 43.41 Free Float Shares (mn) 466.49 Free Float Rs (mn) 63,106.41 Target price for Dec-11 & **Net Open Interest in future market

Buy

30.1

AKD Securities Ltd

Positive

AKD Securities Ltd

Technical Analysis

Recommendations

68

Arif Habib Ltd

Buy

86.15

Arif Habib Ltd

TFD Research

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

Target Price

Buy

87.61

TFD Research

Fauji Fertiliser Bin Qasim Ltd

Target Price

Arif Habib Ltd

Brokerage House

97.1

AKD Securities Ltd

RSI (14-day) 55.70 MTS Shares 202,300 MA (200-day) 10,894.90 Pivot 11,771.60 MA (10-day) 65.40 MTS Rs 10,021,391 71.72 MTS Rate KSE 100 INDEX closed up 97.21 points at 11,808.61. Volume was MA (100-day) MA (200-day) 69.82 ** NOI Rs (mn) 162.37 55 per cent below average (consolidating) and Bollinger Bands were Free Float Shares (mn) 129.35 Free Float Rs (mn) 8,799.68 5 per cent narrower than normal. As far as resistance level is conTarget price for Dec-11 & **Net Open Interest in future market cern, the market will see major 1st resistance level at 11,859.95 and LUCK closed up 2.14 at 68.03. Volume was 255 per cent above 2nd resistance level at 11,911.30, while Index will continue to find its average (trending) and Bollinger Bands were 1 per cent wider than 1st support level at 11,720.25 and 2nd support level at 11,631.90. KSE 100 INDEX is currently 8.4 per cent above its 200-day moving normal. average and is displaying a downward trend. Volatility is extremely LUCK is currently 2.6 per cent below its 200-day moving average low when compared to the average volatility over the last 10 trading and is displaying an upward trend. Volatility is high as compared to sessions. Volume indicators reflect moderate flows of volume into the average volatility over the last 10 trading sessions. Volume indiINDEX (mildly bullish). Trend forecasting oscillators are currently cators reflect moderate flows of volume into LUCK (mildly bullish). bearish on INDEX. Trend forecasting oscillators are currently bullish on LUCK.

Fauji Fertiliser Co

National Bank of Pakistan

Dera Ghazi Khan Cement Co Ltd

Company

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

RSI 1st 2nd (14-day) Support 41.67 73.65 72.75 53.09 2.55 2.45 44.90 59.90 59.05 64.63 25.25 24.70 45.71 20.40 19.90 24.93 12.25 12.20 54.18 51.85 51.45 55.35 360.95 358.45 58.56 123.60 122.25 40.92 8.70 8.60 51.10 9.60 9.35 24.14 5.90 5.85 59.43 3.65 3.55 58.82 25.15 24.55 43.63 1.70 1.65 48.31 2.70 2.65 40.01 1.90 1.85 41.04 34.65 34.40 51.63 59.60 58.80 45.56 204.65 203.55 49.18 4.20 4.15 56.51 41.35 41.10 56.77 133.50 131.75 34.26 11.15 10.85 39.84 107.50 105.85 47.88 37.20 36.60 61.53 164.90 163.60 23.37 208.55 206.80 43.58 2.95 2.85 44.21 8.60 8.50 43.14 1.30 1.25 47.79 2.65 2.60 42.18 2.50 2.45 42.77 41.00 40.85 58.43 16.10 16.00 55.55 66.30 64.55 54.17 2.35 2.30 44.95 203.05 200.40 25.81 57.05 56.75 61.76 23.50 22.95 35.38 2.00 1.95 52.46 2.75 2.70 62.88 28.65 28.45 57.46 65.00 64.50 26.99 135.40 133.90 44.65 2.45 2.35 48.77 275.10 271.50 37.04 16.90 16.85 59.07 3.10 2.95 58.55 324.05 321.35 54.65 207.60 205.35 68.20 68.35 65.85 45.02 1.80 1.70 51.64 5.75 5.45 66.76 214.65 213.55 70.03 18.25 17.95 39.59 19.80 19.40 48.54 24.15 24.05 38.53 1.85 1.80 46.32 2.95 2.90 49.28 60.75 60.20 52.57 2.55 2.50

1st

2nd

Resistance 75.10 75.65 2.75 2.85 61.80 62.85 26.25 26.70 21.10 21.35 12.45 12.55 52.55 52.85 364.95 366.45 126.15 127.35 8.80 8.90 10.05 10.25 6.10 6.25 3.85 3.95 26.20 26.60 1.75 1.80 2.85 2.95 2.10 2.25 35.15 35.35 61.10 61.80 206.80 207.85 4.25 4.30 41.80 42.00 136.35 137.45 12.10 12.75 110.40 111.65 38.30 38.75 167.15 168.05 213.55 216.75 3.25 3.40 8.80 8.85 1.40 1.50 2.80 2.90 2.60 2.65 41.20 41.30 16.25 16.30 69.25 70.50 2.50 2.55 207.30 208.90 57.60 57.80 24.80 25.55 2.10 2.15 2.85 2.90 29.15 29.45 65.95 66.40 138.00 139.10 2.80 3.00 281.65 284.60 17.10 17.25 3.25 3.35 329.45 332.10 211.10 212.35 72.05 73.30 1.90 1.95 6.35 6.65 217.15 218.55 18.90 19.25 20.40 20.65 24.50 24.75 1.95 2.00 3.05 3.10 61.50 61.80 2.60 2.65

Pivot 74.20 2.65 60.95 25.70 20.65 12.35 52.15 362.45 124.80 8.75 9.80 6.05 3.75 25.55 1.70 2.80 2.05 34.85 60.30 205.70 4.20 41.55 134.60 11.80 108.75 37.65 165.85 211.75 3.15 8.70 1.35 2.75 2.55 41.10 16.15 67.55 2.45 204.65 57.25 24.25 2.05 2.80 28.95 65.45 136.50 2.65 278.05 17.05 3.15 326.70 208.85 69.55 1.85 6.05 216.05 18.60 20.05 24.40 1.90 3.00 61.00 2.55


8

Thursday, March 31, 2011

2mn Umrah visas to be issued this season

Bahrain Airline starts GenevaManama route GENEVA: Bahrain national airline Gulf Air on Tuesday opened a new service between Geneva and Manama, saying the move was aimed at helping boost the island kingdom's links to key financial markets. The service, operating three times a week, will be flown by Boeing 737-700 extendedrange aircraft. The launch of the new route comes at a difficult time for the aviation industry. Protests and government crackdowns in the Middle East, including Bahrain, and north Africa stifled air passenger traffic in February, International Air Transport Association figures released on Tuesday showed. "The political unrest in the Middle East and North Africa during February is estimated to have cut international traffic by about 1 percent," IATA said. "Demand growth across the region is taking a step back," IATA Chief Executive Giovanni Bisignani said in a statement. IATA represents 240 airlines operating 94 percent of all international traffic. Gulf Air Chief Executive Officer Samer Majali told guests at a ceremony to launch the new route it was hoped to attract business and leisure travellers from the Middle East and from Switzerland. -Reuters

Emirates repays $500mn bond DUBAI: Emirates, one of the Arab world's largest carriers, said on Sunday that it had repaid a $500 million bond that was due this month and it is on course for a "record breaking" financial year. The bond, listed on the Luxembourg Stock Exchange, was originally issued in 2004 with a seven year term. "The repayment of this bond is part of Emirates overall financing strategy," the airline's chairman and chief executive Sheikh Ahmed bin Saeed al-Maktoum said in a statement. He said the airline would continue to use normal diverse range of options available to finance its growth. Emirates dropped plans for a bond to finance expansion after the uprisings in North Africa made rates more expensive, its president Tim Clark said earlier this month. The carrier is on track for another record breaking financial year, the company said in a statement. "The results for the first half of the 2010-11 financial year are incredibly robust," said Sheikh Ahmed. "We continue to invest our profits in growing the business and our healthy financial position enables us to successfully meet all of our financial commitments and raise financing for future aircraft deliveries." He said that the 62 new aircrafts ordered in the first half of 2010 will help the airline capitalise on its growth plans. The Dubai-based airline last year announced a multi-billion dollar increase in its fleet to include 120 Airbus A380 superjumbos. Emirates is Dubai's flagship company and one of the biggest contributors to a local economy hit hard by a property crisis. The governmentowned airline rivals longer established names for traffic between Europe and east Asia. -Reuters

Turkish Airlines celebrates Los Angeles gateway launch ISTANBUL: Turkish Airlines launched the first nonstop flight from Los Angeles' LAX Airport to AtatĂźrk Airport in Istanbul. To celebrate the new route, Turkish Airlines and global brand ambassador Kobe Bryant held a gala event at Paramount Studios. Attended by over 500 guests, the event included traditional Turkish dances led by Turkish pop musician Kenan Dogulu and actress Sonya Macari. Outfitted with plush lounge seating and intimate tables, the event transported guests to an evening in the cosmopolitan city of Istanbul. In addition to traditional Turkish dishes by the airlines' award-winning in-flight catering company Do&Co, attendees enjoyed entrees by Patina Catering. Following speeches by

Turkish Airlines' Chairman Hamdi Topcu, Consul General Hakan Tekin, and Turkish Airlines' General Manager, Western USA, Fatma Yuceler, Kobe Bryant commanded the stage with a captivating drum performance. In keeping with Turkish custom, an exchange of gifts took place between Kobe Bryant and Chairman Topcu; Mr. Bryant presented the Chairman with his Lakers jersey and limited edition Nike sneakers in Lakers colors, while Mr. Topcu extended a model Turkish Airlines plane. In addition to the gala event, earlier in the day Turkish Airlines welcomed the first arrival flight from Istanbul with a water canon salute and ribbon cutting ceremony at LAX Airport. Speeches were made by Hamdi Topcu, LAWA Executive

Director Gina Marie Lindsey, Ms. Yuceler and Mr. Tekin. Passengers and guests were offered cake and sparkling juice to commemorate the event. The flights from Los Angeles to Istanbul are scheduled to depart four times per week (Tuesday, Thursday, Saturday and Sunday) aboard the brand-new Boeing 777-300ER aircraft. To encourage U.S. travelers to take advantage of the new LA gateway, Turkish Airlines is offering an exceptionally discounted rate on all flights from Los Angeles to Istanbul purchased on or before April 30, 2011. Round-trip flights are available for $752.00 including all taxes and fees. Passengers can book their travel on TurkishAirlines.com, call 1800-874-8875 or work with their preferred travel agent.

ISLAMABAD: The Saudi Government will issue 2 million visas during the ongoing Umrah season and in this context 1.2 million Umrah visas have been issued so far. This is an increase of 237,681 visas, or 32 per cent, compared with the same period last year, said Isa Rawas, Undersecretary at the Saudi Ministry of Hajj for Umrah Affairs. Meanwhile the Ministry of Hajj has directed all licensed Umrah service-providing companies and establishments to ensure that pilgrims in Makkah Mukarrmah and Madinah Munawarah are accommodated in hotels and furnished apartments approved by the Saudi Commission for Tourism and Antiquities (SCTA). According to a press release received here, there were 71,000 rooms in Makkah Mukarrmah that could accommodate up to 900,000 pilgrims every month, while there were more than 30,000 rooms in Madinah Munawarah that could accommodate more than 365,000 pilgrims monthly. He said the accommodation capacity in Makkah Mukarrmah to exceed a million pilgrims next week, while it will 400,000 in Madinah Munawarah. The SCTA had closed down 36 tourist accommodation facilities in Makkah Mukarrmah and Jeddah, while 40 others may face the same fate if they do not take action to rectify their violations. The facilities were closed down for failure to obtain formal licenses from the Civil Defense and the municipalities after fail-

ing to match the set standards. Prince Naif Bin Abdul Aziz, Second Deputy Premier and Interior Minister, has set up a ministerial committee to oversee the issuing of licenses to Umrah companies, said Isa Rawas, Undersecretary at the Saudi Ministry of Hajj for Umrah Affairs. The body will consist of experts from the Saudi ministries of Interior and Hajj to ensure quality service provision to growing numbers of Umrah pilgrims and prevent overstaying. He said the chairman and members of the National Committee for Umrah and Hajj at the Makkah Chamber of Commerce and Industry want the number of Umrah companies to be increased. The existing 51 companies are not able to meet the demand, which is likely to increase to 11 million in future, he said. A total of 547,496 Umrah pilgrims have arrived in Saudi Arabia so far, said Rawas. He said the ministry is keeping a close eye on services provided to pilgrims. Rawas said that the ministry distributes a questionnaire to Umrah pilgrims asking them about the quality of services, so that any company that violates any contractual agreements can be punished. He said 65 people who came through Umrah companies this year have overstayed, which is an insignificant number compared to the number of incoming pilgrims. He urged the authorities to lift the ban on 16 Umrah companies because the market needs their services. APP

SCCI writes industrial, tourism sectors policies Moenjodaro rehab

PESHAWAR: President, Sarhad Chamber of Commerce & Industry (SCCI), Usman Bashir Bilour on Monday said that the trade body has prepared vision documents for the development of industrial and tourism sectors in Khyber Pakhtunkhwa. Speaking in Guest Hour Programme of the Peshawar Press Club (PPC) here, he said that the vision documents have been prepared in consultation with the stakeholders in the province. The document, he said would be very soon resented to both federal and provincial governments, saying he is confident that the implementations of the documents would help the provincial economy stabilized. Terrorism and militancy, he said badly affected the economy of the province while industrial and trade activities have come to standstill position. Usman Bilour said that the

trading community of Peshawar have rendered the sacrifices of both life and properties and for this purpose, he has contacted senior Minister Khyber Pakhtunkhwa, Bashir Ahmad Bilour and requested him for halting 25 per cent increase in the rent of the properties of the district overnment for a period of three years and added that the provincial government accepted the request. Usman Bilour said that after assuming charge of the office of the president of the chamber, he selected some targets for himself, which, he said have been achieved under the guidance of the later and support of the business community. The top most target, he said was the financial assistance of the terrorism affected traders and shopkeepers, which was provided for first time in the history of Pakistan. Furthermore, he said Prime Minister Syed

Yusuf Raza Gilani on the demand of the chamber had declared Khyber Pakhtunkhwa as war affected area and announced a special financial package. The financial relief package, he said though was comprising of financial assistance for the victims of the bomb blasts, but it was declined citing resource constraints. He said that a delegation led by him took up the matter with Chief Minister, Ameer Haider Khan Hoti, who approved the release of Rs.160 million, the amount was distributed among the affectees of bomb blasts through bank cheques. The president of Sarhad Chamber said that for the forst time in the history of the body a three years plan was made that have been sent to federal government and other relevant agencies of the government. -APP

project kicks off ISLAMABAD: The project of Rehabilitation and Culture Tourism at Moenjodaro (RCTM) would protect the archaeological site of Moenjodaro and it will be completed by June 2012. Talking to APP Monday, an official of cultural ministry told that steps would be taken for the conservation, restoration, preservation and development of archaeological remains under the RCTM. To a question, he said Rs. 55.953 million were allocated for these protect and Rs.36.3 million have been released. He said the historic sites of Taxila is being preserved under

the scheme "Development and Restoration of Archaeological Sites from Taxila to Swat and its approved cost was Rs.200 million and so far Rs.75.6 million have been released and utilized for the purpose and the programme is expected to be completed by 2014. He said the archaeological site of Harappa is being preserved and maintained under the Annual and special repair programme. To a question he said due to efforts of ministry for culture the site of Harappa has been placed on tentative list of the World Heritage by UNESCO and hopefully it will be declared as World Heritage in near future. APP

China Southern Airlines earns huge net profit BEIJING: China Southern Airlines Company Limited China Southern) posted an upsurge in profits in 2010 from the low base in the previous year due to rebounding demand. In its annual business report filed with the Shanghai Stock Exchange, China Southern said its net profit increased 1,423.62 percent to 5.8 billion yuan (885 million U.S. dollars) last year compared with 381 million yuan in 2009. China Southern, the nation's largest carrier by passenger transport capacity, said its earnings per share jumped to 0.70 yuan last year, compared with 0.05 yuan for 2009. The company reported a loss of 0.74 yuan per share in 2008. The Guangzhou-based company attributed its profit upsurge in 2010 to rapid domestic economy expansion, consumption upgrade and China's successful hosting of Shanghai Expo and the Asian Games. APP

BA cabin crew vote for fresh strike action LONDON: British Airways cabin crew on Monday voted in favour of taking fresh strike action in a dispute that has so far cost the airline more than 150 million pounds. The Unite union, which represents 90 percent of IAG (ICAG.L)-owned BA's 12,000 cabin crew, said 83 percent of the 6,981 BA cabin crew who returned valid voting papers voted in favour of taking industrial action. "We urge BA's boardroom to see this as a clear message that they must think again about how to regain the trust and confidence of a significant part of their cabin crew operation," Len McCluskey, Unite's general secretary said in a statement. "We continue to be in discussions with the company to find a solution to this long-running dispute." The dispute, which began in November 2009 when BA announced it was cutting crew pay and reducing staffing, now centres on issues including the removal of travel concessions from crew members who took part in earlier strikes. Unite polled just under 10,000 BA crew, 5,811 voted in favour of strike action, while 1,170 voted against. BA declined to comment when contacted by Reuters. Unite now has 28 days within which to announce strike dates and must BA at least a week's notice before it does so. Shares in IAG in London, formed by the merger of BA and Iberia, were 0.2 percent down at 228.45 pence by 1320 GMT.Reuters

World’s highest hotel opens door for business HONG KONG: The world's highest hotel opened its doors in Hong Kong, housed in the city's tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbour. Towering some 490 metres (1,600 feet) above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008. Visitors peered out of the floor-to-ceiling windows of the 118th floor of the International Commerce Centre, which houses the hotel, for a 360 degree view of the glitzy financial hub and the South China Sea. "We're opening an iconic hotel

which took us about 10 years to build," president and chief operations officer Herve Humler told reporters. The Ritz-Carlton however will likely lose the world's highest hotel title in 2014, according to media reports, when the JHotel opens near the top of the over 600-metre Shanghai Tower in mainland China. "People compete all around the world about everything -I'm sure someone somewhere is building an even taller building as we speak," Humler said. "We emphasis service." The Ritz-Carlton Hong Kong also will be one of the most expensive places to stay in a city

already packed with luxury hotels, with the rack rate starting at HK$ 6,000 (US$770) a night for a deluxe room. A presidential suite is going for HK$100,000. Inside, the RitzCarlton Hong Kong exudes a chic, modern vibe in the restaurants and lobby areas, with a lot of sparkling decor and chandeliers, the main colour themes being black, brown and beige. Visitors can expect to find facilities that include the highest bar in the world, and a top-floor pool that will feature a 19-metre ceiling-mounted LCD screen which swimmers can watch while enjoying the warmth of the heated water.-Reuters

KARACHI: Utku Yazan, Country Manager Turkish Airlines presenting souviner to Saifuddin Zoomkawala, Chairman PGBF, and Chairman EFU during meeting at EFU head office. -Staff Photo


9

Thursday, March 31, 2011

Oil falls on high US inventory; unrest supports Brent

European vegetable oil prices

Obama says US to reduce oil imports by 1/3 in 10 years

ROTTERDAM: The following were the Wednesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Apr11 925.00+3.00, May11/Jul11 928.00+3.00, Aug11/Oct11 933.00+3.00, Nov11/Jan12 938.00+3.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1005.00+5.00, Aug11/Oct11 955.00-2.00, Nov11/Jan12 960.00+0.00, Feb12/Apr12 965.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1355.00-5.00, Jul11/Sep11 1360.00+0.00, Oct11/Dec11 1335.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Apr11/May11 1500.00+0.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Apr11 1140.00+10.00, May11/Jun11 1140.00+10.00, Jul11/Sep11 1137.50+15.00, Oct11/Dec11 1132.50+15.00. PALMOIL: RBD dlrs tonne cif Rotterdam Apr11 1222.50, May11/Jun11 1200.00. PALMOIL: RBD dlrs tonne fob Malaysia Apr11 1167.50, May11/Jun11 1145.00+15.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Apr11 1175.00, May11/Jun11 1152.50+12.50, Jul11/Sep11 1132.50+12.50, Oct11/Dec11 1125.00+10.00. PALM STEARIN: Dlrs tonne fob Malaysia Apr11 1135.00+10.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Apr11 820.00-25.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Mar11/Apr11 1950.00+25.00, pr11/May11 1900.00+20.00, May11/Jun11 1875.00+15.00, Jun11/Jul11 1850.00+20.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam May11/Jun11 2695.00+0.00. Reuters

LONDON: Oil fell on Wednesday, weighed down by swelling crude inventories in the United States, while President Barack Obama was expected to set an ambitious long-term goal to cut oil imports. Crude oil stocks at Cushing in Oklahoma, the delivery point of US crude, rose to a record high, dragging US futures prices lower by more than $1 at one point. By 1501 GMT, US crude slipped by 71 cents to $104.08 a barrel while North Sea Brent crude fell 9 cents to $115.07 a barrel. Domestic crude stocks rose 2.95 million barrels in the week to March 25, the report showed, well above expectations for a 1.8 million barrel build. Crude oil stored at the NYMEX Cushing, Oklahoma, delivery hub rose 1.69 million barrel to record high of 41.89 million barrels. Gasoline inventories fell

Indian sugar edges up, eye April quota MUMBAI: Indian spot sugar prices edged up in low volume trade on Wednesday as millers, cautiously waiting for April non-levy quota, held supplies and low demand from consumers limited the gains, analysts and traders said. "Millers are supplying less, waiting for the April quota and demand is yet to pick up because of delayed summer in north India," said a dealer from the Vashi spot market near Mumbai. Traders are expecting prices to rise in near future as India is likely to export 500,000 tonnes of sugar in April and rising temperature will create a demand for sweetener. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety edged up by 6 rupees to 2,680 Indian rupees ($59.969) per 100 kg. Sugar contract for April delivery on India's National Commodity and Derivatives Exchange (NCDEX) closed down 0.73 per cent at 2,698 rupees per 100 kg. -Reuters

more than expected, but analysts attributed a part of the fall to exports. Ahead of the weekly oil data, US crude nearly pared losses and Brent turned positive as US ADP employment data showed the private sector added 201,000 jobs in March. While the high stocks at land-locked Cushing provided some buffer to US crude from

international geo-political risks the civil unrest in North Africa and the Middle East limited losses in Brent crude prices. In Libya, rebels pulled out of the oil town of Ras Lanuf on Wednesday under heavy bombardment from Muammar Gaddafi's forces, showing their weakness without Western air strikes to tip the scales in their favour. A conference of 40 governments and international bodies on Tuesday agreed to

press on with a NATO-led aerial bombardment of Libyan forces until Gaddafi complies with a UN resolution to end violence against civilians. In the long term, US President Obama will outline a strategy to cut oil imports by a third over 10 years, focusing on energy security at a time high gasoline prices could stall US economic recovery. The White House says this is a deliberate turn toward energy security by Obama and will be followed by other events to highlight his strategy. But the immediate market reaction was limited. "It sounds like a very ambitious target indeed," said Carsten Fritsch, analyst at Commerzbank. "It will be difficult to achieve. Perhaps there will be large energy, fuel saving measures or they would need to allow more oil drilling, but after the Gulf of Mexico (spill) it could be difficult." -Reuters

Palm jumps 2pc on soyoil supply outlook KUALA LUMPUR/JAKARTA: Malaysian palm oil futures rose nearly 2 per cent on Wednesday on market views for a smaller US soy acreage this year that could lead to less competition with soyoil and boost demand for the tropical oil. Palm oil traders are waiting for the US plantings report due on Thursday, which may help reverse the market's 13 per cent decline so far this year. Higher palm oil output and the current dip in demand have pressured prices. "Local sentiment is getting driven by overseas markets. The planting of soybeans is very important to the palm oil market," said a trader with foreign brokerage in Kuala Lumpur. The benchmark June crude palm oil contract on Bursa Malaysia Derivatives closed up 1.9 per cent at 3,312 ringgit ($1,093) a tonne. The contract touched a high of 3,323 ringgit earlier, its highest since March 25. Traded volume stood at 19,561 lots of 25 tonnes each,

up from 18,442 lots on Tuesday. Technical charts showed Malaysian palm oil could revisit its February high of 3,967 ringgit over the next three months, based on its wave pattern. But palm oil's Malaysian fundamentals remain bearish. Output is moving into a higher cycle from the first quarter of 2011 after two years of weak yields and erratic weather. Cargo surveyors are due to issue Malaysia's March exports on Thursday and traders expect volumes to reach 1.15 million tonnes, a tad higher than the 1.1 million tonne levels seen in February and hastening a buildup in inventories. ICDX's June CPO futures contract was at 9,605 rupiah per kg, compared to 9,460 rupiah per kg when it opened. Market volume was 1,510 lots of 10 tonnes each. The most active September soyoil in China's Dalian Commodity Exchange rose to 10,100 yuan versus 10,086 yuan at the open. -Reuters

Copper eases, doubts about China demand dominates LONDON: Copper fell on Wednesday to its lowest in nearly two weeks, as investors worried about a lack of demand from top global metals buyer China. Benchmark copper on the London Metal Exchange closed at $9,381 a tonne from $9,590 a tonne at Tuesday's close, on track for a 5-per cent fall in March, its first monthly decline since June 2010. It earlier hit its lowest since March 17, at $9,341 a tonne, some 8 per cent below a record high of $10,190 hit on Feb. 15. "All the bets were put on China," said Eugen Weinberg, an analyst at Commerzbank. "Sentiment in China is not as rosy and not as upbeat as sentiment in Europe or the US," he added. China has been absent from the copper market for some months now, and analysts and traders are beginning to question whether it will come back before prices fall further. Analysts also pointed to an abundance of copper stocks in China. "We are cautious on copper's outlook ... It could be just be monetary tightening

impacting on the copper market," said Nic Brown, an analyst at Natixis. "It could be a reflection of copper stockpiles built up in 2009 and now being run down."

Shanghai copper gains Three-month copper on the London Metal Exchange edged down $4.5 to $9,585.50 a tonne by 0701 GMT. Shanghai's most-active copper futures contract gained 0.7 per cent to 71,300 yuan ($10,868). China's State Reserves Bureau and consumers are expected by analysts to have built up large stocks of copper in 2009, when prices ranged between $3,000 and $7,500 a tonne. "The market is nervous, watching and waiting, not sure China is in the market for copper this year," a trader said. He added: "The crisis in Japan and the Middle East is

keeping investors away. They are waiting to see the impact on growth overall from what's going on in these places." Also in the spotlight are stocks of copper in London Metal Exchange warehouses, which are near 440,000 tonnes, up more than 25 per cent since early December and at their highest since July last year. Zinc closed at $2,338 a tonne from $2,375 and lead, untraded at the close, was last bid at $2,655 a tonne from $2,685. Tin closed at $31,250 a tonne from Tuesday's last bid at $31,550 and stainless steel ingredient nickel was at $26,030 a tonne from $26,600. Aluminium hit a high of $2,654 a tonne from $2,648 on Tuesday when it saw $2,656 a tonne, its highest since September 2008. The metal used in transport, packaging and construction closed at $2,629 a tonne. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for March 29 2011 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1255

December (3rd Wednesday)

1310

1260

January (3rd Wednesday)

1310

1260

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for March 29 2011

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

2365 2375 2360 2365 2350 2360 2350 2360

2591 2592 2625 2626 2700 2705 2760 2765

9449 9450 9455 9455.5 9445 9455 9220 9230

2665 2670 2620 2621 2558 2563 2508 2513

26225 26250 26290 26300 25745 25845 24845 24945

TIN

ZINC NASAAC

31350 2316.5 31400 2317 31300 2332.5 31400 2333 31205 2392 31255 2397 2413 2418

2528 2530 2555 2560 2610 2620 2670 2680

NEW YORK: Traders of crude oil and natural gas react during early trading at the New York Mercantile Exchange. -Agencies

Cocoa hits 2-1/2 mth low; sugar slips LONDON: Cocoa prices fell to the lowest in over two months on Wednesday as investors eyed increased prospects for a resolution to the prolonged conflict in Ivory Coast, which could free up exports from the world's top grower. Arabica coffee futures were higher as the market staged a modest rebound following a prolonged slide while sugar prices fell on prospects for a large crop in top producer Brazil. May cocoa on ICE was off $51 or 1.7 per cent at $3,006 a tonne at 1405 GMT after earlier hitting $2,982, its lowest level since midJanuary. July cocoa on Liffe stood 25 pounds lower at 1,969 pounds a tonne after earlier slipping to 1,957 pounds, also the lowest level for the contract since mid-January. Arabica coffee futures on ICE were higher with the market finally beginning to rebound following a prolonged slide driven mainly by bearish technical indicators. May arabica coffee rose 1.75 cent or 0.7 per cent to $2.6320 per lb. The contract remained, however, about 11 per cent below its peak of $2.9665 set on March 9. May robusta coffee on Liffe fell $17 or 0.7 per cent to $2,493 a tonne. Raw sugar futures were lower as the market's focus remained on the harvest outlook for top producer Brazil. "With the looming Brazilian crop on the horizon it seems safer to sell a rally than buy a dip intraday," Sucden Financial said in a market report on Wednesday. May raw sugar fell 1.6 per cent to 26.60 per lb while May whites in Liffe slid $9.50 to $693.00 per tonne. Reuters

Gold rises, Mideast unrest lends support LONDON: Gold prices rose 1 per cent on Wednesday amid broad support from unrest in the Middle East and North Africa, with investors cheered by the metal's early recovery from four straight sessions of losses. Gains were capped by expectations monetary policy in key regions may tighten, however, analysts said.

Middle East, with violence continuing to simmer in Libya, Bahrain, Syria and Yemen. "Gold players are anxiously waiting for policy signals from the US and to see what the ECB (European Central Bank) actually does next week in its monthly meeting," said Credit Agricole analyst Robin Bhar. "It would take an extraordinary event for the ECB not to

Spot gold was bid at $1,424.70 an ounce at 1407 GMT against $1,415.95 late in New York on Tuesday, having earlier touched a high of $1,430.00. US gold futures for April delivery rose $8.30 an ounce to $1,425.40. "(Gold) held well technically (over) the last couple of days and there has been reasonable physical support around as well," said Simon Weeks, head of precious metals at the Bank of Nova Scotia. "Overall it is still rangebound, but dips are there to be bought." The precious metal hit a record $1,447.40 an ounce last week after months of unrest across North Africa and the

hike, and in the US tightening rather than keeping this accommodative bias (is likely). Those two factors do put a non-interest bearing asset like gold at a disadvantage." "Geopolitical (risks), elevated oil prices, the debt situation in the euro-zone will continue to provide support, so there is a floor for gold," he added. "(But) unless any or all of those factors increase in gravity, it is difficult to see what trigger from the buy side will push gold back to highs." Silver was bid at $37.55 an ounce against $37.07. Platinum was at $1,755.24 an ounce against $1,734.45, while palladium was at $752.72 against $748.28. -Reuters

US cotton slips as USDA report in sight NEW YORK: US cotton futures ended lower Tuesday on investor sales as the market dropped for the third straight session, with most players waiting for release of a key government plantings report this week, analysts said. The key May cotton contract on ICE Futures US fell 2.61 cents to end at $1.9488 per lb, dealing from $1.941 to $2.01. 'We're just marking time till the numbers go out,' said Keith Brown, president of commodity firm Keith Brown and Co in Moultrie, Georgia. Total volume traded in the cotton market was around 14,200 lots, almost 50 per cent below the 30-day norm, Thomson Reuters preliminary

data showed. The level of investor interest remained near a six-week high as open interest stood at 180,249 lots as of March 28, ICE Futures US data showed. A Thomson Reuters survey showed US cotton sowings are expected to reach a five-year high of around 13.21 million to 13.24 million acres, up almost 20 per cent from the 11.04 million acres planted in 2010. The recent rally in cotton prices to record highs may not be enough to push US cotton sowings beyond a five-year high set in 2006. The USDA report is the first government survey of likely plantings for major row crops in 2011. -Reuters

Tokyo rubber up 3pc, may rise further BANGKOK: Tokyo rubber futures rose 3 per cent on Wednesday as funds resumed buying, while technical sentiment improved after prices broke above key resistance of 430 yen. Further gains, however, were likely to be limited, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for September delivery rose 12.9 yen, or 3 per cent, to settle at 430.1 yen ($5.22) per kg. The most active rubber contract on Shanghai rubber futures for September delivery rose 785 yuan to finish at 35,100 yuan ($5,350) per tonne. "The market was overbought and funds got back and started buying again, but it's sill not clear whether TOCOM could rise further to test the new resistance of 440 yen as the market is very volatile," one dealer said. TOCOM rubber was expected to rise further on Thursday after prices finished above 430 yen, the key psychological resistance, but gains were likely to be capped by profit-taking, dealers said. -Reuters

National Commodity Exchange Ltd Trading Summary Date

Commodity

Contract Date

March 30, 2011 CRUDE100 MY11 March 30, 2011 CRUDE100 JU11 March 30, 2011 CRUDE100 JY11 March 30, 2011 SILVER - 500oz MY11 March 30, 2011 SILVER - 500oz JY11 March 30, 2011 GOLD 01oz MY11 March 30, 2011 GOLD 01oz JU11 March 30, 2011 GOLD 01oz JY11 March 30, 2011 GOLD 100oz MY11 March 30, 2011 GOLD 100oz JU11 March 30, 2011 GOLD 100oz JY11 March 30, 2011 GOLD AP11 March 30, 2011 GOLD MY11 March 30, 2011 GOLD JU11 March 30, 2011 KILOGOLD AP11 March 30, 2011 KILOGOLD MY11 March 30, 2011 TOLAGOLD50 AP11 March 30, 2011 TOLAGOLD100 AP11 March 30, 2011 MINIGOLD MON March 30, 2011 MINIGOLD TUE March 30, 2011 MINIGOLD WED March 30, 2011 MINIGOLD THU March 30, 2011 MINIGOLD FRI March 30, 2011 TOLAGOLD MON March 30, 2011 TOLAGOLD TUE March 30, 2011 TOLAGOLD WED March 30, 2011 TOLAGOLD THU March 30, 2011 TOLAGOLD FRI March 30, 2011 IRRI6W 31MA11 March 30, 2011 RICEIRRI - 6 AP11 March 30, 2011RBD PALMOLEIN AP11 March 30, 2011 KIBOR3M 11-Mar March 30, 2011 KIBOR3M 11-Jun

Price Quotation

Open

High

Low

Close

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

103.22 103.81 104.26 36.71 36.81 1414.90 1415.60 1421.00 1417.00 1418.00 1414.70 38904.00 38765.00 39004.00 38776.00 38786.00 45228.00 45228.00 39884.00 39929.00 39840.00 39854.00 39869.00 46809.00 46853.00 45807.00 46877.00 45841.00 3292.00 3311.00 5193.00 86.48 86.05

104.96 105.45 105.38 37.64 37.63 1424.00 1424.70 1424.40 1423.00 1423.70 1423.70 39026.00 39035.00 39051.00 38999.00 39008.00 45487.00 45487.00 40094.00 40140.00 40155.00 40064.00 40079.00 46809.00 46853.00 46173.00 46877.00 46086.00 3292.00 3311.00 5206.00 86.48 86.08

103.10 103.74 104.26 36.66 36.71 1413.70 1414.60 1414.70 1417.00 1414.70 1414.70 38804.00 38765.00 38829.00 38776.00 38786.00 45228.00 45228.00 39884.00 39929.00 39840.00 39854.00 39869.00 45858.00 45910.00 45807.00 45824.00 45841.00 3291.00 3310.00 5193.00 86.48 86.05

104.35 104.88 105.38 37.59 37.61 1423.00 1423.70 1424.40 1423.00 1423.70 1423.70 39026.00 39035.00 39051.00 38999.00 39008.00 45487.00 45487.00 40094.00 40140.00 40155.00 40064.00 40079.00 46104.00 46156.00 46173.00 46069.00 46086.00 3291.00 3310.00 5206.00 86.48 86.08

Traded Volume in lots 258 37 317 10 1,970 1,119 83 15 8 6 9 18 1 6 9 -

Previous Settlement Price 104.50 105.04 105.55 37.08 37.10 1419.00 1419.70 1420.40 1419.00 1419.70 1420.40 38927.00 38936.00 38952.00 38899.00 38909.00 45372.00 45372.00 39994.00 40039.00 40054.00 39964.00 39979.00 45987.00 46039.00 46056.00 45952.00 45969.00 3292.00 3311.00 5193.00 86.48 86.05

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 104.35 125 104.88 12 105.38 37.59 32 37.61 3 1423.00 2,738 1423.70 1,904 1424.40 41 1423.00 5 1423.70 4 1424.40 39026.00 107 39035.00 7 39051.00 38999.00 39008.00 45487.00 45487.00 40094.00 40140.00 40155.00 40064.00 40079.00 46104.00 2 46156.00 16 46173.00 46069.00 6 46086.00 8 3291.00 3310.00 5206.00 86.48 86.08 -


Mario Gomez (L), striker of the German national football team, celebrates with midfielder Lukas Podolski during the friendly football match Germany vs Australia in the western German city of Moenchengladbach

Clarke appointed as Aussie skipper of Test, ODI teams MELBOURNE Michael Clarke was Wednesday appointed as captain of Australia's Test and one-day cricket teams, a day after embattled Ricky Ponting stepped down after the team's unceremonious exit from the ongoing World Cup. Clarke, nicknamed 'Pup', who became Australia's 43rd Test captain, will lead the team in its tour of Bangladesh.Shane Watson was named as Clarke's deputy, while Cameron White would continue as the Twenty20 skipper. The 29-year-old batsman, widely tipped to lead the team, will immediately take charges.Ricky Ponting had yesterday stepped down from the captaincy after the former world champions crashed out of the World Cup after the quarterfinal defeat against India. Ponting was also named in the squad which will leave for the Bangladesh tour. "First of all I can say what an honour it is to be named captain and also a huge surprise to see Ricky stand down," Clarke said at a press conference in Sydney. -Online

City roads deserted during Mohali combat LAHORE: The city roads, commercial centres and markets wore a deserted look during the 2nd semi-final of cricket world cup 2011 between Pakistan and India in Mohali as people remained watching match at TVs engrossly. All the government offices, banks, schools and universities were closed due to the Half Holiday announcement by the government while public and political activities also came to a grinding halt as all eyes zoomed in on the cricket match. The traders of Hall Road and Data Dardbar Market alsodistributed cooked food among people hours before the match while special prayers also were offered during the Fajar, Zuhar and Asar prayers for Pakistan's victory in the World Cup. The Mall, Jail Road, Canal Road, Davis Road, Mcload Road and Ferozepur Road besides were giving deserted look. All wholesale markets were remained working with very low rate of consumers as most of them were busy in looking match. Meanwhile, a large number of people also gathered at selected public points in city where big projection TVs and LED screens were installed to see live match. At the Hall road commercial centres, well-known for big outlets of electronics appliances many dealers availed the opportunity to exhibit the picture quality of the big screen television sets they put on display for marketing. -APP

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Thursday, March 31, 2011

Sachin falls shy of record centuries MOHALI: Indian Cricket player Sachin Tendulkar will have to wait until India's next one-day international to try and record his hundredth 100 after being dismissed for 85 in the semifinal contest with Pakistan. Sachin Tendulkar was caught by Shahid Afridi on 85 leaving him still chasing that 100th international Tendulkar appeared to be living a charmed life after being dropped four times and seemed destined to record the

landmark century in a match that has sparked the imagination more than any other during these finals, reported The Telegraph. The 'Little Master' - who has 51 Test centuries and 48 in one-day internationals - also saw an lbw decision overturned in his favour when he was on 23 before poor Pakistan fielding saw him reprieved on 27, 45, 70 and 81. He was finally out caught by Pakistan captain Shahid

Wahab Riaz grabs chance to shine MOHALI: Pakistan fast bowler Wahab Riaz emerged from the shadows with a career-best five for 46 in Wednesday's World Cup semifinal as India made 260 for nine. The 25-year-old left-armer, who comes from the Pakistan side of the border state of Punjab, has often only played when others were injured, and all eyes focused on the likes of reverse-swing specialist Umar Gul and express quick Shoaib Akhtar. However, Pakistan's decision to keep the 35-year-old Akhtar on the sidelines put Riaz in the spotlight, especially as he would have been the man dropped if the 'Rawalpindi Express' had been recalled. The pressure on Riaz was intensified further when the normally reliable Gul saw 21 runs struck off his second over

during a flurry of boundaries from Virender Sehwag. Riaz, on as first change, stopped the rot when with only his fifth ball he had the dangerous Sehwag lbw. The paceman, who made his debut three years ago and whose previous best was three for 22 against Bangladesh in Dhaka in 2008, later struck twice in two balls to get rid of Virat Kohli and dangerman Yuvraj Singh. When he bowled Yuvraj, man-of-the-match in India's quarter-final win over champions Australia, for a first ball nought, an elated Riaz sprinted away from the pitch in a semi-circle of delight. And his joy was there for all in a capacity crowd to see again when he kissed the pitch after having Zaheer Khan caught behind to complete his maiden five-wicket haul. -APP

Raiders Club clinch Raiders Football Cup LAHORE: An all important goal by Somalia-born Abdul Qadir helped Raiders FC to clinch title of All Punjab Raiders Football Cup 2011 at Raiders Football Club Ground, Faisal Town. They cut Model Town FC to size with 1-0 win, keeping their 17th minute goal alive till full time. Raiders led 1-0 at interval and had three sure chances to level the issue in the second session but great goal keeping by Raiders FC's Muzammil Hussain came their way. The chief guest

Malik Muhammad Afzal Khokhar (MNA) awarded Raiders FC Skipper Muhammad Asif the winner Cup while MTFC's skipper Umar Khan, also Man of the Final, gathered the RunnersUp Trophy. Bata FC pocketed Fair Play Trophy The match was supervised by Referee Afzal Bari, ARs Shams Pervez, Liaquat Shah, 4th Official Younus Anthony under Match Commissioner Anees Javed and Referee Assessor Masood Khawaja. -Online

KARACHI: Young cricket fans flashing victory signs as they watch the cricket match between Pakistan and India on the big screen. -Online

Afridi off Saeed Ajmal in the 37th over. Tendulkar, with his 95th one-day international 50, anchored the Indian innings after a blistering start had threatened to unravel. Virat Kohli (9) and Yuvraj Singh (0) fell to the swing of Wahab Riaz in successive balls, with the Pakistani bowler coming close to finding the edge of Mahendra Singh Dhoni's bat for a hattrick. -Online

Cricket fever across Pakistan

ISLAMABAD: A large numbre of people gathered at Fatima Jinnah Park and watching the second semi-finals of ICC World Cup on big screen between Pakistan and India. -APP

Pak booters will appear in UAE's WC U17 Qualifier LAHORE: Pakistan will make attempt to earn slot in UAE's 15th World U17 Cup 2013 when they will face Asian teams in 15th AFC U16 Championship this year. The players born on or after 1 January 1996 will be eligible to play in the event, slated to run from 10-25 September 2011. North Korea will defend title in Asian Youth beating Uzbekistan 2-0 in last edition final on 7 November 2010 at Pakhtakor Stadium, Tashkent Pakistan Football Federation (PFF)'s President Makhdoom Syed Faisal Saleh Hayat has asked Operation Wing to call as many teams as they could from 8th National U16 Championship (1-15 May) to get the abundance of talented players of required age-limit for coming 15th AFC U16 Championship. The AFC U16 Championship has been the launching pad for many of football' present stars including Muhammad Ahmed, Abbas Ali, Ahsan Ullah, Fahad Ullah Khan who joined National team after playing in 2005 edition. The 2007 edition produced players like Faisal Iqbal, Muhammad Adil, Saqib Hanif while KPT's first choice keeper Ehsan Ullah for PPFL is product of 2009 edition. The AFC U16 show - which is held every two years - also acts as a qualifying tournament for the FIFA U17 World Cup at which the Asia is given four berths. Founded as the FIFA U16 World Championship, later changed to the FIFA U17 World Championship and known by its current name since 2007, is the world championship for male players under the age of 17 organized by FĂŠdĂŠration Internationale de Football Association (FIFA). In the 13 tournaments held so far, Brazil and Nigeria are the most successful nations in the tournament's history with three wins each. Ghana has won the tournament twice. Soviet Union, Saudi Arabia, France, Mexico, Switzerland won the title once. With the late inclusion of Cambodia, total 40 teams have entered the fray for 15th AFC U16 Championship and have been divided into two zones West (22) and East (18). The teams will be divided into seven groups of six and five teams each. West Zone will have two groups of six and two of five teams while East will have three groups of six teams each. Top two teams from each of the groups and third best team from West and East zones will qualify for the tournament proper.-Agencies

KARACHI: Girls Flashing victory signs as they watch the semi final of cricket world cup between Pakistan and India. on big screen. -Online

KARACHI: Cricket fans celebrating an Indian wicket during the semi final match between Pakistan and India. Online

PESHAWAR: Cricket fans dancing as they celebrate an Indian wicket during the semi final match between Pakistan and India. -Online

PESHAWAR: Cricket fans celebrate an Indian wicket during the semifinal match between Pakistan and India. -Online


US private sector adds jobs; planned layoffs fall n Private employers add 201,000 jobs in March NEW YORK: US private employers added more than 200,000 jobs in March while planned layoffs fell, underscoring expectations that momentum in the labor market will help underpin the economic recovery. The ADP Employer Services report on Wednesday showed that U.S. private employers added 201,000 jobs in March, largely in line with expectations for a gain of 203,000 jobs. The ADP report, which is jointly developed with Macroeconomic Advisers LLC, did little to change expectations of the government's much more comprehensive labor market report due out on Friday, which includes both public and private sector employment. "While a touch softer than February's, this is a strong report that indicates continued momentum in the pace of labor market recovery," Barclays Capital wrote in a note. Barclays said it was maintaining its expectation for Friday's report to show an increase of 175,000 jobs in March. A Reuters poll of analysts shows a median forecast for nonfarm payrolls to rise by about 190,000 jobs in March, with private payrolls forecast to rise by 200,000. The slow recovery in the jobs market has been one of

the biggest hurdles to a sustainable economic recovery, but recent data has raised optimism that improvement in employment is strengthening. A survey of U.S. chief executives by the Business Roundtable released on Wednesday underscored the growing optimism. More than half of the CEOs surveyed said they are looking to add jobs over the next six months and their view of the economy brightened in the first quarter. ADP said the job gains in March showed good breadth, with small businesses adding 102,000 jobs and mediumsized and large businesses gaining 82,000 and 17,000 jobs, respectively. ADP also downwardly revised its February's figure to 208,000 from 217,000. "It looks like the U.S. economic recovery continues, and the improving labor market should be a buffer against weak areas like real estate," said David Katz, chief investment officer at Matrix Asset Advisors in New York. Housing has remained outside of the broader recovery and consumer sentiment has weakened as food and gasoline prices jumped, adding to signs the economy lost momentum in early 2011. Analysts, however, expect the improving labor market should offset

that. Separate data on Wednesday showed applications for U.S. home mortgages tumbled last week as higher interest rates sapped demand for loan refinancing. Another report showed the number of planned layoffs at U.S. firms fell in March after spiking up the month before. Employers announced 41,528 planned job cuts this month, down 18 percent from February, according to the report from consultants Challenger, Gray & Christmas, Inc. For details, see Overall, 130,749 job cuts were announced in the first three months of the year, the lowest rate of downsizing since 1995. However, the Challenger report said the highest level of job reductions this year has been seen in the government sector. Losses are expected to grow as cash-strapped state and local governments deal with budget problems. U.S. Treasury prices rose modestly immediately after the ADP report as traders said there was relief the number was slightly below the consensus, while U.S. stocks were trading higher in the late morning. Policymakers at the Federal Reserve have ramped up debate on whether the econo.Reuters

China tells banks to cut dlr shorts, foreign debt BEIJING: Chinese banks must cut their short dollar positions and also reduce their short-term foreign debt holdings, the currency regulator said on Wednesday. The tightening of existing restrictions is the latest step by China to cut the scope for capital inflows betting on faster yuan appreciation. In a short statement on its website, the State Administration of Foreign Exchange (SAFE) said it wanted to prevent illegal inflows and protect national financial security. "SAFE is taking various measures to repel potential speculative inflows and I think the recent steps will definitely show some results," said E Yongjian, an economist at Bank of Communications. China already has strict controls in place to block speculative inflows and regularly tries to reinforce them, an objective that has become more important in recent months as yuan appreciation has edged up. "It will also help reduce the foreign exchange purchases, which could ease pressure on the central bank to sterilise in the money market," E Yongjian said. To keep the yuan from rising too quickly against the dollar, China buys most of the foreign exchange that enters the country and must then mop up -- or sterilise -- the yuan that is created in the process to guard against inflation. -Reuters

CONTINUATION No #1

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unfortunately still exists somewhat between the people of the two countries. The two sides agreed to hold their next meeting in Kabul in May this year. Head of Afghan delegation Syed Ishaq Gilani addressing a press conference on the conclusion of talks said the problem of terrorism could be curbed with the joint efforts of Afghanistan and Pakistan while USA and Pakistan should adopt a joint strategy to steer out a way for termination of drone attacks. He said that Afghanistan is very keen to keep firm ties with Pakistan. During recent years the level of confidence between two countries was raised due to which both the nation came closer to each other. He said that both Pakistan and Afghanistan are in the state of war against mutual enemy and the two could succeed against menace of terrorism, if they joined hands and strive to cooperate with each other. "Neither the land of Afghanistan was used against Pakistan in the past nor anyone would be allowed to exploit it in the future as Pakistan and Afghanistan are the Islamic brother countries and the relation between the two counties are splendid", he added. He told the journalist that the matters regarding trade, fighting against terrorism and abolishing the smuggling were discussed during the talks of parliamentarians of two sides. He said that meeting of Afghan delegation with President Zardari was quite fruitful in which he assured to take step for pulling out Afghan containers , which has been entangled at Karachi. He said that a misperception was being proliferating in Pakistan that India was making its place by making so many consulates in Afghanistan. As a matter of fact she was allowed to construct only those consulates which were deemed as necessary. On the occasion Senator Salim Saifullah Khan said that the visit of Afghan parliamentarians would not only help in bringing the people of both the countries closer but also cause to strong the ties between Pakistan and Afghanistan. He told the reporters that the trade volume between two countries has been touched the figures of $2billion. He said a 20 member delegation of Pakistani parliamentarians would visit Afghanistan in May. -Online

No #2

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"You need well below that to get people worried about a double-dip (recession) and well above that to get people too worried that the Fed is going to tighten." Stocks also advanced as investors re-allocated positions for the end of the quarter, with the S&P 500 up 5.5 per cent. "They are selling commodities, they are moving back into industrials you've got a mini-market rotation coming into your final couple of days of the quarter, and that is the way the window dressing takes place. It's also how the pre-positioning takes place for the start of the quarter," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont. The Dow Jones industrial average gained 73.42 points, or 0.60 per cent, to 12,352.43. The Standard & Poor's 500 Index added 8.67 points, or 0.66 per cent, to 1,328.11. The Nasdaq Composite Index rose 15.24 points, or 0.55 per cent, to 2,772.12. Investors also were eyeing the 1,330 level as a possible resistance point for stocks, with the benchmark S&P unable to hold gains above that mark in its three previous attempts. In the latest on the M&A front, Canadian drug maker Valeant Pharmaceuticals International on Tuesday made an unsolicited bid to buy Cephalon Inc for $5.7 billion, driving Cephalon's stock up 28.1 per cent to $75.25 while Valeant's US-listed shares shot up 10.4 per cent to $49.-Reuters

11

Economy & Continuation

Thursday, March 31, 2011

No #3

Continued from page 5

A Growth Unit holder having 100 units of MIIF as at March 28, 2011 will get 3.486 additional units at the ex-dividend NAV of Rs50.20 while an Income Unit holder will get Cash Dividend of Rs1.75 per unit. MIIF is the first and the largest Shariah compliant open end income fund in Pakistan. The annualized return for the period from January 01 to March 28, 2011 was 13.69 per cent. The current net assets of MIIF are Rs2,792 million. A Growth Unit holder having 100 units of MCF as at March 28, 2011 will get 2.699 additional units at the ex-dividend NAV of Rs50.02 while an Income Unit holder will get Cash Dividend of Rs1.35 per unit. MCF is the first Shariah compliant open end money market fund in Pakistan. The annualized return for the period from January 01 to March 28, 2011 was 11.43 per cent. The current net assets of MCF are Rs6,357 million. Al Meezan is the largest private sector asset management company in Pakistan, with AM2 Management Quality Rating. It has Rs29 billion assets under management. Due to its prudent fund management, Al Meezan has not only been able to retain its existing investors but also managed to increase the investor base. This success is reflective of the confidence and trust of both individual and institutional investors.

No #4

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The banking sector, down 12.3 per cent since the quake, was the second weakest performer on Wednesday, losing 0.6 percent. Mizuho Financial Group, also facing an inspection by financial authorities after it suffered computer system troubles, fell 2.1 percent to 137 yen. Japanese shares have shed about 7 per cent since the March 11 earthquake and tsunami, and a subsequent nuclear safety crisis, triggered the biggest two-day rout in the market since 1987. In contrast, the MSCI index of Asian shares outside Japan has gained 4.7 per cent. Domestic fund managers warned the Nikkei faced more downside risk around May. "This is when firms will publish their earnings forecasts which will seriously sour the market's mood," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management. "Analysts may put out reports beforehand, but it will be very hard to fully rely on them and price in the quake damage, so the potential declines could be very big."-Reuters

No #5

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Miners, which now trade above their 20- and 50-day moving average, led the gains as investors refocused on stocks that provide hopes for earnings growth. INDUSTRIAL SUPPORT Rolls Royce gained 1.7 per cent after HSBC upgraded the aerospace and defence firm to "overweight", citing growth prospects and shrugging off concerns over the impact of high oil prices. Rolls Royce shares are flat on the year but trade just above their 50-day moving average of around 619 pence, on a forward price-earnings ratio of 13.8 times compared with a sector average of 10.4, Thomson Reuters data showed. "The updates companies have been giving investors since the oil price picked up have indicated that price can be passed on and that demand is holding up," Colin McLean, managing director at the 650 million pound ($1.04 billion) Scottish Value Management in Edinburgh, said. He said industrials; tech stocks and chemicals producers look well placed. Industrials such as IMI and Weir Group, up 1.9 and 1.2 per cent respectively, benefitted from an upbeat note on the sector from RBC Capital Markets. IMI was RBC's top pick but it said Invensys and Smiths Group, down 2.3 and 1.1 per cent respectively, may underperform UK peers. Smiths, Anglo American, British Land, British Sky Broadcasting, Eurasian Natural Resources and Prudential all traded without their dividend attractions. Traders said bid talk boosted Centrica, up 2.5 per cent on strong volume, with traders citing talk that Spanish peer Iberdrola was set to make a bid. Traders also cited talk of bid interest in fashion group Burberry, which added 2 per cent.-Reuters

UK economy shows tentative signs of Q1 recovery LONDON: Britain's service sector rebounded in January after a snow-hit December and retail sales rose unexpectedly in March, data showed on Wednesday, raising hope of a decent pick-up in first-quarter GDP. The pound rose and gilts fell on the data, as investors moved to price a more than 50 percent chance that the Bank of England would raise interest rates in May. Investors believe the strength of first-quarter GDP data, due on April 27, will be crucial in determining the speed with which the Bank of England raises interest rates from their current historic low of 0.5 percent. Services output grew by 1.3 percent on the month -- its fastest monthly expansion since July 2002 -- following a 1.1 percent decline in December, according to the Office for National Statistics.

No #6

All five sub-sectors contributed to the recovery, with hotels and restaurants up 4.4 percent on the month, transport up 1.7 percent, distribution up 1.4 percent, business services up 1.4 percent and government services up 0.7 percent. The figures offer the first official glimpse of how the sector, which accounts for more than three-quarters of the Britain's economy, fared in the first quarter of the year. "At face value it is quite robust," said Alan Clarke, UK economist at BNP Paribas. "Growth in January has made up for the terrible December, but it is still early days to gauge the strength of first-quarter growth." GAUGING THE UNDERLYING TREND Gauging the strength of the recovery has been complicated by weather distortions following Britain's coldest December in a century.

ECB, Japan, N Africa hit euro zone March sentiment BRUSSELS: Euro zone economic sentiment fell more than expected in March, data showed on Wednesday, and may ease further on the prospect of a European Central Bank rate rise, the disaster in Japan and turmoil in North Africa. The European Commission's monthly survey showed economic sentiment in the 17 countries using the euro fell to 107.3 points from a revised 107.9 in February with declines in all components except industry. Economists polled by Reuters had expected an easing to 107.5 points. "We believe that euphoric business sentiment in the euro area will deteriorate somewhat in the next few months on the back of the imminent turnaround in rate policy, uncertainty triggered by the disaster in Japan and the turmoil in the Arab countries and mixed signals from the global economy," said Christoph Weil, economist at Commerzbank.

Continued from page 1

"We wish both nations continued success in expanding dialogue, mutual understanding and cooperation. We believe continued visionary diplomacy of this sort will lead both countries and the region as a whole to winning results for all sides," the press release added. -APP

No #7

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Sonia Gandhi his son Rahul Gandhi and Indian Parliamentarians also joined the two leaders during talks. Prime Minister Gilani and his delegation attended a lunch hosted by Indian Prime Minister Dr Manmohan Singh as the semi-final between their cricket-teams continued late night. Gilani and Manmohan who witnessed the semi-final match between the cricket teams of Pakistan and India also spent time together at dinner at the premises of Mohali Stadium. The two prime ministers have been together since noon after Gilani arrived in Chandigarh on the invitation of his Indian counterpart to see together the 'clash of their teams'. Furthermore, India beat Pakistan by 29 runs in the second World Cup semi-final Wednesday and will take on Sri Lanka in Saturday's final in Mumbai. The 1983 champions posted 260-9 and then returned to bowl out their neighbors for 231 in 49.5 overs to spark jubilant celebrations at the Punjab Cricket Association Stadium. Opting to bat first, India got off to a rollicking start and Sachin Tendulkar(85) got a series of letoffs as well but Wahab Riaz's (5-46) five-wicket haul restricted the co-hosts to a rather modest total. Pakistan got off to a decent start too but losing wickets at regular intervals denied them any significant partnerships and batsmen such as Mohammad Hafeez (43) and Asad Shafiq (30) were guilty of throwing away their wickets at the most inopportune time. Misbahul Haq (56) offered some late resistance but it was not enough in the end. For India, Yuvraj Singh (2-57) made amends for his batting failure, while Harbhajan Singh (2-43), Ashish Nehra (2-33), Zaheer Khan (2-58) and Munaf Patel (2-40) also shone with the ball. -Agencies

No #8

Continued from page 1

managed to return to their villages have few ways of making money to rebuild homes or resume their children's education, depending mostly on aid groups. Pakistan has received more than $1.3 billion out of almost $2 billion needed in humanitarian aid since last year's floods, according to the United Nations' Office for the Coordination of Humanitarian Affairs.

No #9

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almost 25,000 families in Sindh for the upcoming planning season, but over 700,000 families will require assistance over the coming months. FAO, in partnership with the government of Pakistan has identified recovery priorities for the next two years. These are increasing crop, livestock, fishery and agro-forestry production, improving diets and nutrition and boosting agriculture extension services to offer advice to landless and smallholder farmers. "Pursuit of these core objectives will significantly reduce the vulnerability of the populations in question, improve food production and income generation, and increase affected communities' resilience to future shocks," said Donati. FAO expects its recovery program to cost $94 million, enough to assist 430000 families in 24 districts. An Early Recovery Working Group, co-chaired by the Pakistan Government's National Disaster Management Authority and the United Nations Development Program has been set up with eight sectors covered including one on Agriculture and Food Security, co-chaired by FAO, the World Food Program and the Ministry of Food and Agriculture. -APP

No #10

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JP1 could be enhanced by Rs10.55 whereas the cost of JP4 could be raised by Rs9.45, similarly the price of JP8 could be increased by Rs11.65. The price of premium motor oil may also be increased by Rs11.5 while the cost of HOBC may be increased by Rs12. The new prices would be announced on 31st March which would be implemented on 1 April. It merits mentioning that in February Ogra had raised the petroleum prices with increase of Rs6.10 per liter in petrol price, Rs7.41 per liter in HOBC, Rs2.97 per liter in light diesel and Rs3.32 per liter in kerosene oil prices. However upon pressure from opposition parties Prime Minister had reduced the prices by 50 per cent.

No #11

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gas prices, pointing to the slow pace of issuing permits for new offshore oil wells in the wake of last summer's massive Gulf of Mexico spill and an Obama-imposed moratorium on new deep-water exploration. The president struck back at that criticism Wednesday, saying his administration has approved 39 shallow water drilling permits since new standards were put in place last year, and seven new deepwater drilling permits in recent weeks. "So any claim that my administration is responsible for gas prices because we've shut down oil production might make for a useful political sound bite, but doesn't track with reality," Obama said. Obama said a significant part of his plans to cut U.S. oil imports would depend on further increases in domestic production, and he pledged to develop new incentives for companies to speed up oil and gas production on current and future leases. An Interior Department report released Tuesday said more than two-thirds of offshore leases in the Gulf of Mexico are sitting idle, neither producing oil and gas nor being actively explored by the companies who hold the leases. The department said those leases could potentially hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas. Even if Obama's efforts can reduce U.S. demand for foreign oil, experts say that's unlikely to bring down the cost of gasoline, since oil is priced globally and increased demand from China and other developing nations continues to push prices up. A longer-term energy strategy, he said, would also depend on boosting the use of alternative energy sources, including natural gas and biofuels. "We have to discover and produce cleaner, renewable sources of energy," Obama said. "And we have to do it quickly." Obama called for the construction of four new advanced biofuel plants in the U.S. within the next two years. However, advanced biofuels — fuels made from non-food sources such as wood chips, switch grass or plant waste — are still in their infancy and cannot yet be made in amounts similar to corn ethanol. Congress has directed more money to research and development of those fuels in recent years as some critics of corn ethanol have linked the diversion of corn for fuel to rising food prices. The president also ordered government agencies to ensure that by 2015, all new vehicles they purchase are alternative-fuel vehicles, including hybrid and electric. Obama has previously set a goal of putting 1 million electric vehicles on U.S. roads by 2015.

No #12

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decided to enhance the maximum limit of the depreciation to 60 per cent on the import of cars. In order to implement the FCC's decision, the Revenue Division, Federal Board of Revenue issued Customs Notification No SRO 275(1)/2011 dated 26th June, 2011 amending the parent notification No SRO 577(1)/2005 dated 6th June, 2005. Customs General Order No 02/2011 dated 26th June, 2011 has also been issued to modify Customs General Order No 14/2005, dated 6th June, 2005. Accordingly, the maximum limit of the depreciation has been enhanced to 60 per cent from existing 50 per cent on the import of old, used and second hand cars. -Agencies


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Thursday, March 31, 2011

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Fazl says he might be the target

Bomber hits JUI-F convoy, eight dead

Rawalpindi: Students shout as they watch the Cricket World Cup 2011 semi-final match between Pakistan and India. Reuters

Britain expels 5 Libyan diplomats LONDON: Britain has expelled five Libyan diplomats to protest at the Libyan government's actions and because they could pose a threat to national security, Foreign Secretary William Hague said on Wednesday. "To underline our grave concern at the regime's behaviour, ... we have today taken steps to expel five diplomats at the Libyan embassy in London, including the military attache," Hague told parliament. "The government also judged that, were those individuals to remain in Britain, they could pose a threat to our security." The diplomats, believed to be supporters of Libyan leader Muammar Gaddafi, have been given seven days to leave, a government source said. Britain hosted an international conference on Tuesday that piled pressure on Gaddafi to quit and pledged to continue military action against his forces until he complies with a U.N. resolution to protect civilians. [ID:nLDE72S00I] Britain long treated Libya as a rogue state. The 1984 shooting of a London policewoman from inside the Libyan embassy, the Libyan arming of IRA guerrillas in Northern Ireland and the 1988 Lockerbie airline bombing over Scotland, for which a Libyan was convicted, contributed to Gaddafi being branded a pariah. After Gaddafi agreed in 2003 to abandon efforts to acquire chemical, biological and nuclear weapons, then Prime Minister Tony Blair helped lead him back into the international fold, opening the way for lucrative business deals. Reuters

Pak-Afghan MPs negotiations end

AfPak Commission to identify shared woes ISLAMABAD: Pakistan and Afghanistan laying great emphasis on joint efforts to tackle terrorism have stressed on the need of establishing a joint commission to identify problems between them. According to the joint statement released at the end of two days talks between the parliamentarians from Pakistan and Afghanistan, delegates from the two sides laid great emphasis on joint efforts to tackle the problem of terrorism which has not only caused death and destruction in the region but has been the major impediment in the development of both Afghanistan and Pakistan. They urged cooperation of

each other's Parliament to bring to the notice of their respective Governments problems identified by the other side for immediate remedial action. This, they thought, would greatly help in bringing the two countries further closer to each other. The two sides felt the need of establishing a Joint Commission, established already, to identify problems between them. The task of the Commission would be to find solutions to these problems which will help in cementing brotherly relations between the two neighbors. The intelligence agencies of the two countries,

Parliamentarians felt, were pursuing their own individual interest whereas terrorism was a common enemy demanding collective action by the agencies of the two countries. Parliamentarians expressed concern on longer delays for clearance of goods under Afghan Transit Trade which was causing huge financial loss. They agreed on finding a solution to this long over-due problem for streamlining business relation between the two countries. Parliamentarians felt the need and importance of media in molding public opinion. It can play a positive role in bridging the trust deficit that See # 1 Page 11

Hajj corruption case

Kazmi jailed on judicial remand ISLAMABAD: Former minister for religious affairs Hamid Saeed Kazmi has been sent to jail on 14 days judicial remand in Hajj corruption case. FIA in its investigation report presented before the court has said Hamid Saeed Kazmi has considerably increased his assets during the period he remained minister. As per media reports Hamid Saeed Kazmi was produced in the court of senior civil judge Islamabad Muhammad Aslam Gondal on Wednesday. FIA said in its report on the Hamid Saeed Kazmi had been occasion that more 14 plots traced. These plots were purmeasuring 86 marla owned by chased at the cost of Rs4 mil-

lion in 2008. FIA had told in its report that assets of Hamid Saeed Kazmi had been remarkably increased and former minister for religious affairs had hand behind the appointment of Ahmad Faiz. Hamid Saeed Kazmi is also declared to have been found involved in the embezzlement of Rs200 million. FIA also told that evidence of involvement of Hamid Saeed Kazmi in another case of Rs200 million-corruption has been found. The hearing has been adjourned till April 18. -Online

Rebels retreat from Ras Lanouf BREGA, Libya: Rebels retreated Wednesday from the key Libyan oil port of Ras Lanouf along the coastal road leading to the capital Tripoli after they came under heavy shelling from ground forces loyal to leader Moammar Gaddafi. Nato planes flew over the zone where the heaviest fighting was under way and foreign media reported explosions, indicating a new wave of airstrikes against Gaddafi's forces. Nato has intervened in the Libyan conflict with near daily airstrikes to weaken the regime's superior military power vis-à-vis the poorly trained and badly equipped ragtag rebel army. A rebel near the front lines told the AP that the opposition fighters withdrew from Ras Lanouf rather than fighting the regime forces who were closing

in on them. US Marine Corps Capt Clint Gebke, a spokesman for the NATO operation aboard the USS Mount Whitney, said he could not confirm any specific strikes but said that western aircraft were engaging proGaddafi forces. "The joint task force is still supporting the civilians on the ground via sorties," he said in a telephone interview. With the help of Nato airstrikes earlier in the week, rebel who control the eastern half of Libya rapidly advanced westward on the main coastal highway that leads to Gaddafi's stronghold in the capital. The got within 60 miles of the city of Sirte, Gaddafi's hometown and a bastion of support for the longtime leader with a major military base. At that point, they came under heavy bombardments by Gaddafi's ground forces, who

outgun the rebels in every way - in numbers, equipment and training. On the offensive, government tanks and artillery have unleashed a fierce bombardment on towns and cities which has usually forced rebels to swiftly flee. That tactic appears to have worked once again in Ras Lanuf, an oil terminal town, 375-km east of the capital Tripoli. The Pentagon said 115 strike sorties had been flown against Gaddafi's forces in the previous 24 hours, and 22 Tomahawk cruise missiles had been fired. Britain said two of its Tornado fighter-bombers had attacked a government armored vehicle and two artillery pieces outside the besieged western town of Misrata. Libya's official Jana official news agency said air strikes by

forces of "the crusader colonial aggression" hit residential areas in the town of Garyan, about 100 km (60 miles) south of Tripoli. UN Security Council Resolution 1973 sanctions air power to protect Libyan civilians, not to provide close air support to rebel forces. That would also require troops on the ground to guide in the bombs, especially in such a rapidly changing war. United States and France have raised the possibility of arming the rebels, though both stressed no decision had yet been taken. "I'm not ruling it in, I'm not ruling it out," U.S. President Barack Obama told NBC. Aid agencies are increasingly worried about a lack of food and medicines, especially in towns such as Misrata where a siege by Gaddafi's forces deprives them of access. Agencies

SWABI: At least eight persons were killed and dozens injured when a motorcyclist entered in the JUI-F caravan passing by Swabi interchange and blew himself up, luckily JUI Ameer Fazlur Rehman remained safe in the attack hereon the other day. As per media reports, the suicide attack took place when a caravan of JUI (F) was going to be a part of a welcome demo in Anbaar (Swabi). DPO Provincial Ejaz Shah had confirmed that the attack was suicide. He added that in charge of Swabi check post ASI Sardar Ali Khan embraced Shahdat along with seven other persons, while dozens sustained injuries. The injured were taken to the nearby hospital and several were in critical condition. Sources added the suicide bomber tried to target JUI (F)'s Ameer Maulana Fazlur Rehman. Security sources said that caravan had passed by before the suicide attack. Evidences have been collected by the forces from the place of incident.

Match pressure takes Liaquat Soldier’s life ISLAMABAD: Renowned comedian Liaquat Soldier passed away after he suffered a fatal heart attack during live television show in Karachi on Wednesday. According to a private TV channel, Liaquat Soldier was taking part in a live television show in a special transmission for the World Cup semi-final between Pakistan and India when he suffered a heart attack. He was rushed but passed away on way to a hospital. Liaquat Soldier started his acting career in 1973 and performed with all major actors in more than 250 television plays and shows. Several television celebrities, including Moin Akhtar, Shahzad Raza, Rauf Lala, Ismail Tara and Zeba Shahnaz, expressed grief over his death and said Liaquat was one of the great stage comedians of the country. -Agencies

Pak confirms arrest of Bali bombing suspect ISLAMABAD: A Pakistani security official said Wednesday that Umar Patek, an alleged mastermind of the 2002 Bali bombing, has been arrested by Pakistani security agencies. The official would not say when and where he was arrested. “Yes it is confirmed we have arrested him, he is in Pakistan,” the official told. Asked if he was linked to any militant group in Pakistan he said they were investigating. “Right now he is being interrogated,” the official, speaking on condition of anonymity, said. Indonesian security officials will be given access to him, he added. “The Indonesians want access to him and they are coming,” he said. Patek, who has a $1million bounty on his head, was the alleged field coordinator for the attacks on night clubs on Bali, which placed mainly Muslim Indonesia on the front lines of the global battle against militancy. -Agencies

Senate approves resolution against attack ISLAMABAD: Senate condemned and approved a consensus resolution against the suicide attack on Fazal-ur-Rehman’s caravan. They urged from government to convict the culprits involved in such a heinous act. Members Senate condemned the suicide attack on Fazal-urRehman’s caravan and named it failure of intelligence agencies and the culprits be brought to justice. The resolution was tabled by Azam Swati, which was approved unanimously. During Senate session, on Wednesday, Ismail Baledi condemned suicide attack on Fazal-ur-Rehman’s caravan. He added that at least eight persons including an SHO and four security men of Fazal-ur-Rehman killed yet. He said that the acting regime has failed to secure public. If these attacks won’t be controlled then supreme politicians may face such attacks. He demanded for the arrests of the culprits involved in such a heinous act. -Agencies JUI (F)'s Ameer Maulana Fazlur Rehman expressed great sorrow at this incident and appealed to his workers to stay calm. While talking to Maulana Rasheed Ludhyanwi, JUI (F)'s Ameer Maulana Fazlur Rehman told him that terrorist tried to target JUI's leadership actually but Allah Almighty kept us all safe in the attack. He added that the attack took

place a few furlongs away. President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani, Chief Ministers and political leaders have condemned the suicide attack on Maulana Fazlur Rehman. President Asif Ali Zardari said that such incidents are carried out only to scare politicians but terrorist won't succeed in their heinous activities. -Agencies

Pakistan Railway's deficit

Body probes sale of tracks as trash ISLAMABAD: The senate body on railways has been assigned to probe into alleged sale of railway-tracks by irrigation department in Punjab on throwaway prices and report within a week. As per commitment, the matter was taken up even before start of question hour. Leader of the House in Senate Nayyar Hussain Bukhari informed the House that according to the railways ministry report, the mater had nothing to do with it rather the irrigation department owned it. Senator Muhammad Ali Durrani had raised the matter on Tuesday saying that rail track stretching over 40 kilometers has been sold at just Rs90 million against the real value of Rs3 billion. The statement by Nayyar Bukhari drew criticism by members who questioned as how railway ministry can be irrelevant from rail track as the irrigation department has nothing to do with the tracks. "This track was laid back in 1927. It has never been in use for public transportation. If it is sold, it would have been done by the government of Punjab," Nayyar Bukhari told the House. Professor Khursheed ques-

tioned as how irrigation department can lay the railway track. Senator Durrani observed that the statement shows some scam behind curtain and termed it as dubious. He also quoted two letters by railways ministry asking the irrigation department not to dig out rail track linking Ahmedpur East with Panjnad Headworks that had also the provision for connection with Muzaffargarh and Dera Ghazi Khan. He was of the view that the rail was laid in 1927 when there was no irrigation department. The track, he said was laid by owned by State of Bahawalpur and the facility was provided by All India authorities. Durrani said track had been used for transportation of defense equipment till 1970 but now it was being sold out speedily. He requested the chair to refer the matter to standing committee concerned for interrogation and that a stay order should be issued to suspend the activity at the spot. The chairman referred the matter to the standing committee on railways and sought inquiry report within a week; however he declined to give stay order contending that it did not fall under his purview. -Agencies

Cricket fever grips lawmakers

Ministers absence appalls Senators ISLAMABAD: Opposition has staged walk out from Senate in protest against absence of federal ministers from House. The ministers were not present during the question hour when the Senate session started Wednesday. Senators raised objection over absence of the ministers saying who would give reply to the questions when the ministers were not present. Opposition parties' senators including PML-Q, PML-N, Jamat-e-Islami and JUI-F staged walk out from the House in protest. PML-N Senator Syed Zafar Ali Shah said the Speaker should take notice of lack of interest on the part of ministers in Senate proceedings, leader of the House Nayyar

Bokhari be made minister so that we could say one minister was present in the House. Expressing wonder over absence of federal ministers Senate chairman Farooq Naek said where all the ministers had gone to. If all the ministers had gone to India to witness match than what was the fault of members of Senate, adding Prime Minister should have taken them to India to watch match. Chairman Senate inquired from Nayyar Bokhari if all the ministers had gone to India to witness match. Nayyar Bokhari told only a few ministers had left for India. Senator Shahid Bugti said the remaining ministers were making preparations to watch match here. -Online

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 FinancialDaily-Epaper-31-03-2011  

The FinancialDaily Epaper

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