The Financial Daily-Epaper-02-02-2011 by The Financial Daily

International Karachi, Wednesday, February 2, 2011, Safar-ul-Muzaffar 28, Price Rs12 Pages 12

Zardari has strengthened Pakistan: Shazia Marri

PR land scam: SC tells respondents to explain See on Page 12 JC to probe sugar price hike scam See on Page 12 B'stan unhappy on mines study See on Page 12

See Page 2

Budget deficit likely to exceed 7pc of GDP Millions stand strong against Mubarak

Economic Indicators $17.30bn Forex Reserves (22-Jan-11) 14.61% Inflation CPI% (Jul 10-Dec 10) $10.98bn Exports (Jul 10-Dec 10) $19.13bn Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) $(8.15)bn $26mn Current A/C (Jul 10- Dec 10) $5.29bn Remittances (Jul 10-Dec 10) $1.05bn Foreign Invest (Jul 10-Dec 10) Rs 638bn Revenue (Jul 10-Dec 10) $58.41bn Foreign Debt (Sep 10) Rs 5497.4bn Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) $323.6mn -4.69% LSM Growth (Nov 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 175.05mn Population

Portfolio Investment SCRA(U.S $ in million)

200.75 Yearly(Jul, 2010--31-Jan-2011) 5.36 Monthly(Dec, 2010--31-Jan-2011) 2.47 Daily (31-Dec-2011) 3065 Total Portfolio Inv (21 Jan-2010)

Cairo: Man looks on as protesters take part in an anti-Mubarak protest at Tahrir Square in Cairo. Reuters

NCCPL (U.S $ in million) FIPI (1-Feb-2011)

2.03

Local Companies (1-Feb-2011)

-1.27 2.09

Banks / DFI (1-Feb-2011)

-2.82

Mutual Funds (1-Feb-2011)

0.75

NBFC (1-Feb-2011) Local Investors (1-Feb-2011)

-1.03

Other Organization (1-Feb-2011)

0.25

Global Indices Index

Change

KSE 100

12,273.38

85.98

Nikkei 225

10,274.50

36.58

Hang Seng

23,482.95

35.61

Sensex 30

18,022.22

305.54

ADX

2,599.34

12.59

SSE COMP.

2,798.96

8.27

FTSE 100

5,943.82

80.88

*Dow Jones

11,962.17

70.24

GDR update Symbols

$.Price PKR/Shares 111.23

MCB (1 GDR= 2 Shares) 2.60 OGDC (1 GDR= 10 Shares) 18.19

155.64

UBL (1 GDR= 4 Shares) 2.00 LUCK (1 GDR= 4 Shares) 1.70

42.78

HUBC (1 GDR= 25 Shares) 11.10

37.99

36.36

Money Market Update T-Bills (3 Mths) 26-Jan-2011

13.67%

T-Bills (6 Mths) 26-Jan-2011

13.71%

T-Bills (12 Mths) 26-Jan-2011

13.88%

Discount Rate

29-Nov-2010

14.00%

Kibor (1 Mth)

01-Feb-2011

13.29%

Kibor (3 Mths)

01-Feb-2011

13.68%

Kibor (6 Mths)

01-Feb-2011

13.82%

Kibor ( 9 Mths)

01-Feb-2011

14.17%

Kibor (1Yr)

01-Feb-2011

14.28%

P.I.B ( 3 Yrs)

01-Feb-2011

14.19%

P.I.B (5 Yrs)

01-Feb-2011

14.21%

P.I.B (10 Yrs)

01-Feb-2011

14.20%

P.I.B (15 Yrs)

01-Feb-2011

14.62%

P.I.B (20 Yrs)

01-Feb-2011

14.80%

P.I.B (30 Yrs)

01-Feb-2011

14.98%

Commodities *Crude Oil (brent)$/bbl 101.22 *Crude Oil (WTI)$/bbl 92.12 *Cotton $/lb 171.12 *Gold $/ozs 1,337.80 *Silver $/ozs 28.31 Malaysian Palm $ 1,247 GOLD (NCEL) PKR 37,059 KHI Cotton 40Kg PKR 11,574 *Last Updated 20:00 PST

Open Mkt Currency Rates Symbols

Buy (Rs)

Sell (Rs)

Australian $

85.60

86.60

Canadian $

85.50

86.50

Danish Krone 14.10

14.80

Euro

118.60

117.20

Hong Kong $ 11.00

11.10

Japanese Yen 1.030

1.056

Saudi Riyal

22.80

23.05

Singapore $

66.70

67.70

Swedish Korona 12.10

12.20

Swiss Franc

86.30

85.70

U.A.E Dirham 23.30

23.55

UK Pound

137.00

138.30

US $

85.95

86.25

Inter-Bank Currency Rates Symbols

Buying TT Clean Australian $ 85.51 Canadian $ 85.70 Danish Krone 15.76 Euro 117.45 Hong Kong $ 10.98 Japanese Yen 1.043 Saudi Riyal 22.82 Singapore $ 66.99 Swedish Korona 13.31 Swiss Franc 90.80 U.A.E Dirham 23.30 UK Pound 137.38 US $ 85.56

Selling TT & OD 85.71 85.90 15.79 117.73 11.01 1.046 22.88 67.15 13.34 91.01 23.36 137.70 85.75

Weather Forecast CITIES MAX-TEMP ISLAMABAD 23°C

MIN 4°C

KARACHI LAHORE FAISALABAD

28°C 24°C 24°C

12°C 5°C 4°C

QUETTA RAWALPINDI

18°C 22°C

4°C 5°C

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Lhr court orders to put Davis on ECL LAHORE: Lahore High Court Tuesday issued a stay order against possible handing over of David Raymond, killer of two Pakistanis, to US and ordered to put his name in the Exit Control List (ECL). The court passed this order in a petition filed by a citizen, who said the US national, Raymond Davis must stand trial in Pakistan and should be blocked from being handed over to the United States, a private TV reported. Punjab's Advocate General Khwaja Haris said nobody has asked for diplomatic immunity. Chief Justice Ejaz Chaudhry remarked as the accused has already appeared before the court, it is prerogative of the court to decide whether or not the suspect is immune from crime. "I am restraining him, See # 17 Page 11

All set to evacuate Pakistanis from Egypt ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Tuesday directed the Ministry of Defense to dispatch a special aircraft to Cairo to repatriate the families and nonessential staff of Pakistan Embassy and all Pakistani nationals including some stranded tourists who wish to leave Egypt because of the prevailing security situation there. Prime Minister Syed Yousuf Raza Gilani also directed the Ministry of Foreign Affairs and Ambassador of Pakistan in Cairo to facilitate and arrange the required logistics for ensuring that all See # 18 Page 11

Jordan king sacks cabinet AMMAN: Jordan's King Abdullah II fired his government Tuesday in the wake of street protests and asked an ex-prime minister to form a new Cabinet, ordering him to launch immediate political reforms. The dismissal follows several large protests across Jordan - inspired by similar demonstrations in See # 19 Page 11

PM Gilani chairs CCI meeting

New gas policy gets thumbs-up Says funds to be given to ministries being devolved

Special Correspondent/ It was also decided that Agencies Prime Minister will subsequently hold a separate ISLAMABAD: The meeting with the Chief Council of Common Ministers of all the four Interest (CCI) which met provinces to look at the under the chairmanship of political aspects and Prime Minister Syed accordingly merge the recYousuf Raza Gilani here at ommendations of the comthe PM Secretariat Tuesday mittee of chief secretaries decided that funds will be when agreed by the chief provided to cater for the executives of the provinces. salaries of employees and The CCI approved the budget for the on-going 'tight gas policy' in principle projects of the ministries while it was decided that being devolved. details of estimation and A committee was formed pricing will be worked out consisting of all the chief in consultation with the secretaries and the federal provinces. finance secretary to work The Council of Common out the financial implica- Interest was apprised that tions and measures to raise 'tight gas' exploration is the requisite funds. See # 20 Page 11

ECC gives nod to urea import ISLAMABAD: Economic Coordination Committee of the Cabinet met here Tuesday with the Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh in the chair. The Committee deliberated at length six agenda items which include the implementation status of the decisions taken in the last ECC meeting, presentation of the FDI inflow and outflow, and steps to enhance FDI, exemption of taxes on Renewable Energy Technologies, One Time Exemption from custom duty, update on sugar situation in the country, and allo-

cation of gas to Thermal Power Station Quetta. At the start of the meeting the Committee discussed at length the various aspects of the supply of urea to farmers. This subject has been part of the agenda item that is immediate restoration of gas for 30 days to fertilizer industry. The Committee has decided to work on both the options that are, direct tendering for urea import of 0.225 million tons and the Chairman Trading Corporation informed the committee that they are going to tender for the See # 14 Page 11

Traders buy 2mn T domestic wheat

Pak set to export wheat as ban off ISLAMABAD: Pakistani traders have bought about 2 million tonnes of domestic wheat for export, and shipments have already started; government officials and traders said on Tuesday. Pakistan, Asia's thirdlargest wheat producer, in December lifted a ban on exports imposed in 2007 because of domestic shortages and high prices. Stocks soared after a bumper crop

of 23.86 million tonnes in 2009-10 added to a carryover of 4.2 million tonnes from the previous crop. The central Punjab province, which grows most of the country's wheat, intends to export over 2 million tonnes from its surplus stocks. It has already sold 1.4 million tonnes of that to local traders for export, provincial Food See # 15 Page 11

KESC raises tariff by 96paisa per unit KARACHI: National Electric Power Regulatory Authority (NEPRA) has allowed the Karachi Electric Supply Company (KESC) to increase its tariff by 96-paisa per unit in the form of fuel adjustment charges. The fresh raise will be applicable for the month of December, according to media reports. The Karachi power company See # 16 Page 11

CAIRO: More than a quarter-million people flooded into the heart of Cairo Tuesday, filling the city's main square in by far the largest demonstration in a week of unceasing demands for President Hosni Mubarak to leave after nearly 30 years in power. Protesters streamed into Tehrir Square among them people defying a government transportation shutdown to make their way from rural provinces in the Nile Delta. The peaceful See # 13 Page 11

SC urges clarity in foreign dealings ISLAMABAD: Justice Khalil-ur Rehman Ramday, sitting in a fourmember bench of the Supreme Court Tuesday observed that judicial intervention should not be taken as casting negative See # 12 Page 11

IMF warns Pak of fiscal deficit Urges Isb to act swiftly on economic reforms

ISLAMABAD: Pakistan should act swiftly to reduce its widening budget deficit, a senior IMF official said Tuesday, as the government struggles to hammer out a political consensus to revive an economy battered by militancy and floods. Analysts say Pakistan's fiscal deficit is likely to exceed 7 per cent of economic output -- as against the 4.7 per cent target for fiscal 2010/11 -- partly due to delays in implementing key tax reforms encouraged by the International Monetary Fund. "The challenges that the economy is now facing are

Fund says global imbalance returning SINGAPORE: World economy has begun improving but is beset by problems such as high unemployment and rising prices which could fuel crippling trade protectionism and violent social unrest, the head of the International Monetary Fund See # 9 Page 11 essentially around the impact on the economy of the large budget deficit," the official told Reuters on condition of anonymity. "At the moment the urgent task is to try and move forward on controlling both spending and also to take action to raise revenues to

reduce the deficit." The official said the IMF had not yet come up with its own estimate of the budget deficit. In 2008, Pakistan agreed to crucial reforms, including an elimination of fuel subsidies and implementation of See # 10 Page 11

Co’s circular debt reaches Rs145bn, NA told

‘Tariff hike remedy to PSO debt’ ISLAMABAD: Minister for Petroleum Replying to a call attention notice raised and Natural Resources Syed Naveed by Raja Muhammad Asad Khan and others Qamar on Tuesday informed the National regarding increase of more than Rs145 bilAssembly that circular debt could not be lion in the circular debt of PSO, he said that cleared without increasing power tariff. See # 11 Page 11

2 Zardari has strengthened Pakistan: Shazia Marri Staff Reporter KARACHI: Sindh Minister for Electric Power Shazia Marri has said that steps taken by President Asif Ali Zardari to strengthen democracy and country's institutions, have strengthened Pakistan and now the critics and political opponents of President Zardari admit his wisdom and commitment with country. This she said while talking to a delegation of male and female workers of Pakistan Peoples Party, Lyari, who met her at her office Tuesday to resolve their grievances. Shazia Marri said that President Asif Ali Zardari

Mian Zahid to head FPCCI ST committee TFD Report KARACHI: The President, Pakistan Federation of Chambers of Commerce and Industry (FPCCI) Haji Ghulam Ali has appointed Mian Zahid Husain as Chairman, FPCCI Standing Committee on Sales Tax. Mian Zhaid Husain, former Chairman of Korangi association of Trade and Industry (KATI).

ICCI for cutting mark up rates ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday stressed upon the policy-makers to bring down the mark-up rates to help increase investment for improving economy of he country. Expressing reservation over State Bank of Pakistan's decision to maintain the same level of policy rate, President ICCI, Mehfooz Elahi said the mark-up rate was kept unchanged against expectations of a 50 basis points reduction.-APP

SSGC cuts supply to KESC KARACHI: SSGC faces a shortfall of about 80 mmcfd due to technical fault in different gas fields located in Sindh. Bhit Gas field operated by ENI, developed a technical fault in its compressor which forced the field to reduce gas supply about 50 mmcfd. Normally, Bhit supplies 340 mmcfd gas to SSGC. ENI will take two days to repair the fault, after which the supply will return to normal. Additionally, as a result of a major power breakdown at the Zamzama Gas Field, operated by BHP, the gas production came to a halt at 12:30 pm.-PR

has always taken criticism very positively and rejected negative political trends to move forward in the better interest of country and nation. She lauded the policies of President Zardari and said that under the able guidance of our President, the government of Yousuf Raza Gilani is delivering to people especially with regard to empowerment of country's women. She said that steps taken in this connection have provided remarkable prosperity to poor womenfolk of country's downtrodden areas. "Today we can seek our own rights, we can express our ideas which is true essence of democracy and

today pen and camera of journalist are free of all state pressures and people of country are enjoying unprecedented freedom of expression for which they rendered uncounted sacrifices in past" Shazia Marri said and added that everybody remembers that in past, how our journalists had been tortured and kept in the lock-ups of Karachi city because they had refused to obey dictator Musharraf and his fellows. Shazia Marri said that the failed policies and wrongdoings of rulers of past have brought our country at the edge of collapse and present government of Pakistan Peoples

Party is facing unlimited challenges in every field but we are confident that with the wisdom of our leadership and policy of reconciliation, we will defeat all such challenges being faced by our country. Sindh Minister Electric Power further said that now when we are facing the challenge of terrorism, we all have to work to promote national unity by following foot prints of Q u a i d - e - A z a m Muhammad Ali Jinnah, Quaid-e-Awam Shaheed Zulfikar Ali Bhutto and Quaid-e-Jamhooriat Shaheed Mohtarma Benazir Bhutto as it is the only way to defeat conspiracies against Pakistan.

'Accord with Turkish Airline to benefit PIA' ISLAMABAD: Managing Director of Pakistan International Airlines Capt. Aijaz Haroon has said that the global business approach and cooperation is must for the future development of Airlines. Talking to reporters at National Press Club Islamabad, Capt. Aijaz Haroon said the proposed agreement with the Turkish Airlines would enable the national carrier to find new markets in the Western capitals. The agreement if finalised would help PIA passengers to travel to any destination in Europe,

USA or Canada. They would also get quick connections in a very short time, he said. He emphasised that PIA is not selling any of its profitable routes and it will continue to operate on all its major routes such as London, Leeds and Birmingham. He said due to security reasons and financial constraints Pakistan cannot become the hub of international travel. However, the agreement with Turkish Airlines will eventually enable PIA to expand into Europe and the USA.He said Istanbul would become the hub of

Pakistan International Airlines' operations in Europe and the US. PIA would get an opportunity to book passengers for any destination in Europe and the US on daily flights. PIA will take passengers to Istanbul and from there the Turkish Airlines will take them on onward journey. He said "The passengers will benefit as the Turkish Airlines has daily flights to destinations where PIA does not have to. Aijaz Haroon said "we will benefit as we will get 15 percent commission on all such bookings.-APP

Global Finance Awards For HSBC Staff Reporter KARACHI: Pan-regional presence and a well-established footprint in the Middle East clinched three awards for HSBC's Payments and Cash Management (PCM) division recently, underlining the bank's commitment to delivering internationally best-in-class solutions to governments, multinationals and corporations in the region. For the awards, HSBC's PCM team was able to submit case studies to the judging panel which clearly demonstrate how working closely with treasurers and CFOs around the region has enabled them to deliver

improved cash flow and working capital efficiency for regional customers through HSBC systems. The MENA PCM team closed its first cross border cash concentration deal in 2010, for a customer operating in Kuwait, Jordan and Egypt. In the UAE, one large corporation implemented a full electronic payments platform, which then led to further projects including Group Payroll, Post-Dated Cheque (PDC) Warehousing, Cash Collections, Electronic Payments, Automated reconciliation, Receivables Finance and Cash Forecasting. "Our breadth of reach and depth of expertise in the

Middle East give our customers confidence that our solutions will deliver bestin-class performance and functionality, resulting in a reduction of risk throughout the working capital cycle by improving payments and collection processes, and providing global visibility and ready access to liquid funds," commented Natasha Patel, Head of PCM, HSBC MENA. "Furthermore, we have been able to leverage HSBC's long history in the region to develop close working ties with many of the regional regulators, who are proactively looking for best-practice solutions to develop their own cash management needs," added Patel.

Warid Glow brings 'Bombay Dreams' to Karachi Staff Reporter KARACHI: Over the years, English theater in Pakistan has experienced tremendous growth. Warid has become a leader in promoting arts in the community. Greatly supporting the young talents, Warid GLOW has become synonymous to quality theater in Pakistan. The much hyped and

awaited play 'Bombay Dreams" is now being staged at the Karachi Art Council for 25 days consecutively, (from Jan 27 to Feb 20. Originally, the play was an Andrew Lloyd Webber production, created by famous Indian music director A R Rahman. Directed by Shah Sharabeel, it is an adaptation of the original one in accordance with the local scenario. The

play beautifully hints at the identity issues confronting human beings. GLOW and Center Stage Productions staged an array of successful plays over the years in the cities of Lahore, Islamabad and Karachi including The Phantom of the Opera, Tom, Dick and Harry, Home Is Where Your Cloths Are, You Only Marry Twice, Moulin Rouge and Bombay Dreams.

TV PROGRAMMES WEDNESDAY Time Programmes 7:00 8:00 9:05 11:00 11:30 12:00 13:10 14:10 15:00 16:00 17:30 18:00 18:30 19:00 19:05 19:30 20:03 21:00 22:03 23:00 23:30

News News Subah Savere Maya ke Sath News Hal Kya Hai (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Samaa Sports News Hal Kya Hai Crime Scene Newsbeat News Tonight With Jasmeen News 24

KARACHI: Aamna Latif, Manager Professional Service, and Ali Osman Syed, School Program Officer Colgate-Palmolive (Pakistan) Ltd, stand with Zeeshan Abbas, the winner of the Colgate 'My Bright Smile' TM Global Art Contest 2010/11. Also seen in the photo is honorary winner, Haiqa Bilwani, accompanied by Mrs Samina Mehmud, Principal of Beaconhouse School System (Defence Campus) and Essa Elvi, Marketing Manager, Colgate-Palmolive (Pakistan) Ltd.-Staff Photo

Wednesday, February 2, 2011

10 years of Ufone in Pakistan Staff Reporter KARACHI : Ufone celebrated its tenth anniversary recently with great fervor. This day was memorable for all as 10 years ago the launch of Ufone was the dawn of a revolution within the telecom industry. Ufone started out as a service for the masses and it pushed to remove the perception and reality that cellular services were only for the elite in the country. Today cellular services are enjoyed by people from every walk of life which has been made a reality thanks to the promise that Ufone once made to the MUZAFFARGARH: The flood affected children of Rohilanwali village in people of Pakistan and has Muzaffargarh receive warm clothes from Mobilink Foundation.-Staff Photo fulfilled that promise through this journey of 10 years. Over the last decade the telecom industry has seen fierce competition with an exceptional decrease in tariffs, a major focus on value added and Staff Reporter Staff Reporter customer services in which KARACHI: With temperatures plummeting to as low as Ufone has taken the lead. KARACHI: Intellectual zero degree or below, winters this year has been harsh espeTo save economy cially for flood affectees. Mobilink Foundation, the non- Property Organization Pakistan, with the cooperaprofit philanthropic arm of Pakistan's market leader in celtion of International lular services, Mobilink, in continuation of its efforts for the Confederation of Societies flood affected people, distributed winter clothes amongst of Authors and Composers women and children in Khyber Pakhtunkhwa region. (CISAC), has announced the setting up of "THE COLLECTIVE ORGANIZATION FOR MUSIC Staff Correspondent RIGHTS in PAKISTAN" LAHORE: The doom and (COMP). It will be respongloom scenarios need an sible for managing urgent handling. Good govand "Reduction of Carbon foot Performing TFD Report ernance, good policies, print of a School" was judged Reproduction Rights of the good institutions, good Artists and Music to be the best in the category KARACHI: The 3-D macroeconomic management are the drivers of eco- Projects made by students of and was awarded first prize. Publishers of Pakistan, so nomic growth that have Dawood Public School A purpose built School build- that the foundation for a gone dormant for quite received several prizes at ing model was prepared Royalty-based system is WWF-Pakistan's Traveling where students exhibited the laid and Copyright protecsome time. The government ways to converse energy. tion and fair compensation Nature Carnival 2011. needs to work on these drivThe jury awarded overall They were representing how is ensured for the creators ers to break the vicious cirfirst position to Dawood their own school could better in the field of music. cle of economic logjam. Public School for the best conserve energy and reduce Collective Management This was the upshot of the 3D Displays while DPS also its carbon footprint. Three the exercise of speeches delivered at managed to get first prizes working models; a windmill, is Copyright and Related Economic Dialogue 2011 in level 4 and 5 and second a bio-gas cylinder and a solar Rights by organizations arranged by the Lahore prize for Level 1. cooker, were made and dis- acting in the interest and Chamber of Commerce and Dawood Public School played using local material. on behalf of the owners of Industry on Tuesday. LCCI which is a first Green School All these projects demonPresident Shahzad Ali by WWF Pakistan ratings, strated how sustainable ener- rights. There are more than 127 organizations, workMalik, PIDE Vice focuses on the need to con- gy can be harnessed. ing in their respective Chancellor Dr Rashid serve and protect nature. The The display of level five Amjad, former Chief school participated in the five with the theme of 'Solid Waste countries, around the Economist Planning levels that were designated by Management' also won the world for this objective as Commission Dr Pervaiz the WWF, each one depicting first prize in the category. individual management of Tahir, former World Bank a separate aspect of nature as Students prepared a rights is virtually impossiHead Abid Hassan, leading follows, Building of a bird Documentary after visiting ble with regard to certain Economist Dr Akmal refuge in school, Conservation sites such as Land-filled site at types of use for practical Hussain, Energy sector of fresh water (Green Idea), Jam Chakaroo in Surjani Town purposes. This initiative is imporexpert Munawar Baseer and Organic Kitchen Gardening, Abbasi Shaheed Hospital top industrialist Almas Reduction of Carbon foot Nazimabad, Aga Khan tant not only to save the fortunes of Hyder and LCCI Senior print of a School and Solid University, Basti Benazir at sinking Vice President Sheikh Waste Management. NIPA, University of Karachi, Pakistan's music industry but also to protect and proMohammad Arshad were The level four 3-D display Municipal Waste Department, mote our creators. among the keynote speakers. by DPS' students on CDGK (Civic Center).

Mobilink Foundation Organisation for music distributes warm rights clothes to flood victims

Govt should redo its priorities

DPS wins prizes at WWF carnival

Wednesday, February 2, 2011

Euro climbs to more than 2-month high against dollar

Top Economic Events

Firas Askari, head of FX trading at BMO Capital Markets in Toronto. "I still think there are some core fundamental issues in Europe that have not been addressed." "When the whole world starts buying and talking about the strength of the euro, it's probably a good time to start fading it," he said. The euro rose as high as $1.3776 on trading platform EBS, its strongest since late November, before edging back to $1.3759, up 0.5 per cent on the day. The Australian dollar rallied 1 per cent on the day to a four-week high of $1.0086

after the country's central bank ended its monthly policy meeting with a generally upbeat assessment of the domestic and

global economy. Traders said demand from Middle Eastern investors helped lift the euro while Asian sovereigns were also seen buying back euro positions sold earlier in the day, as well as buying Australian dollars. Data on Tuesday showed a fall in Germany's jobless rate and strong final

readings of purchasing managers' surveys, supporting the view the overall euro-zone recovery is progressing. In the wake of Monday's above-forecast euro-zone inflation, the PMI surveys also showed rising price pressures, adding to expectations that European Central Bank President Jean-Claude Trichet will keep a hawkish tone on Thursday. The dollar slipped to a four-week low around 81.47 yen on EBS, while an index of the US dollar against a basket of other currencies fell as low as 77.294, its weakest since early November. Sterling jumped to a 2-1/2-month high of $1.6143 after UK manufacturing PMI hit a record high in January, boosting expectations for a UK rate rise by midyear. It was last up 0.6 per cent at $1.6102. -Reuters

Yuan ends up after Singapore dollar, won rise record high mid-point Asian currencies

as inflation remains in focus Rupiah, baht stable after price data; outlook dim SINGAPORE: The South Korean won and Singaporean dollar strengthened on Tuesday as their central banks are expected to tighten policy to fight inflation, while the Indonesian rupiah lagged gains on worries that its policymakers aren't acting fast enough to curb price pressure. The Singapore dollar hit a record high against the US dollar on buying by institutional investors, while exporters scooped up the Korean won. Investors so far this year have been pulling money out of countries such as Indonesia where monetary policies have not been seen as tight enough to cope with rising prices and moving the

money to their Asian peers where inflation is less of a concern and to developed countries. US Dollar/Singapore dollar slid to as low as 1.2764, compared with its previous close of 1.2794. But investors are getting cautious over possible intervention by the MAS. The pair offers also lined up after data showed South Korean CPI above forecast and a rise in input prices on China's PMI data set. The won rose 0.4 per cent versus the greenback as exporters bought it for settlements before the Lunar New year holidays and as worries about the Egypt unrest slightly eased. The Thai baht and Indonesian

Stg climbs as rate hike expectations grow LONDON: Sterling hit its highest level in 11 weeks against the dollar on Tuesday after strong UK manufacturing data boosted speculation the Bank of England may need to raise interest rates in the near future. Data showed a manufacturing purchasing managers' index (PMI) climbed to 62.0 in January from an upwardly revised 58.7 in December. That was the highest

reading since the survey began in 1992 and well above the consensus forecast of 57.9. It overshadowed other data which showed British mortgage approvals fell more than expected in December to the lowest since March 2009. The Bank of England's preferred money supply gauge -- M4 excluding intermediate other financial corporations -- also eased to 0.3 per cent from 0.4 per cent in November. "It is a soft dollar story but those strong PMI numbers have helped sterling," said Adrian Schmidt, FX strategist at Lloyds TSB. "Markets are pricing in

more chances of rate hikes and there is little to undermine sterling at the moment." Sterling rose to $1.6143, its highest since Nov. 15, before easing back to $1.6118 in afternoon trade, up around 0.7 per cent on the day. Technical analysts were becoming increasingly bullish for the pound, with next key resistance highlighted as the October 2010 high at $1.6300, followed by

$1.6379, the 76.4 per cent retracement of the pound's 2009 to 2010 sell-off. The euro fell to a session low of 85.10 pence before recovering to 85.37 in afternoon trade. Implied interest rate futures based on overnight index swaps were pricing in around a 70 per cent chance of a 25 basis point rate rise in May, up from around 54 per cent before the PMI data was released and around 40 per cent from late last week. Attention now moves to construction and services PMI data due on Wednesday and Thursday respectively after both sectors contracted in December. -Reuters

rupiah were steady against the dollar after consumer price data. Still, the both currencies are seen staying weak, dealers and analysts said. "I think USD/THB should test 31.00 resistance again and should move in 30.80-31.20 range within this week," said a Bangkok-based dealer. Dollar/rupiah is seen moving between 9,015 and 9,070, analysts said. The Taiwan dollar traded in a narrow range in thin volume, with many players winding down trades on the last trading day before the Lunar New Year holiday. No central bank intervention was seen in the early session, though traders remain wary. -Reuters

Swiss franc tracks euro up vs dollar ZURICH: The Swiss franc tracked the euro up against the dollar on Tuesday, with political upheaval in Egypt keeping Brent crude above $100 and the euro-zone's inflation outlook raising expectations of an rate hike there. Analysts said the euro could add to its gains in the near-term, especially if European Central Bank President Jean-Claude Trichet talks tough on inflation after the ECB's policy meeting zone Thursday. The Swiss franc, meanwhile, has been supported by upbeat news on the Swiss economy and confident comments from the Swiss National Bank, a well as worries about unrest in Egypt. The franc was little moved against the euro compared to the New York close, trading at 1.2933 per euro at 0723 GMT. The franc rose 0.4 per cent against the dollar to 0.9408. The franc gained some 15 per cent against the euro last year on concerns about euro-zone sovereign debts and because the Swiss economy rebounded well from the 2009 recession. Although the SNB has warned exports may suffer due to the strong currency and hamper growth, Chairman Philipp Hildebrand has struck a positive tone recently, saying indicators pointed to a robust start to 2011.-Reuters

Aussie dollar tops parity on commodities, global growth SYDNEY/WELLINGTON: The Australian dollar climbed past parity on Tuesday as optimism on global growth lifted commodity prices, a trend highlighted by the country's central bank as it played down the impact of floods on the domestic economy. The Australian dollar bounced above parity to a session high of $1.0039, from $0.9963 in early trade. Its recovery from a low of $0.9866 on Monday caught many speculators short and forced them to buy back the dollar. It was last at $1.0024, having broken several key resistance levels and was now targeting the Jan 19 high at $1.0077. The Reserve Bank of Australia kept its key cash rate unchanged at 4.75 per cent after its monthly policy meeting, a decision that was widely expected. The central bank said it would look beyond the impact of Queensland's floods and remained upbeat on growth in the medium term. "We think today's statement was on the hawkish side," said Paul Bloxham, chief Australia economist at HSBC. "We continue to expect the next rate rise to be in May or June."

Since the flooding first hit, financial markets had all but priced out any chance of a rate increase this side of June and only one rise to 5.0 per cent by year-end. Analysts are generally more bullish, with most surveyed in a Reuters poll seeing a hike some time in the second quarter and rates up at 5.25 per cent by the end of the year . The New Zealand dollar firmed to $0.7740, up from a low of $0.7681 on Monday. Support was seen at $0.7685, the low on Monday, with resistance at $0.7795, the Jan 28 high. Data showed that New Zealand also continued to benefit from strong demand for its commodities, with prices for dairy, beef and wool soaring, and lifting the ANZ commodity to record high. With the Reserve Bank of New Zealand keeping its tightening bias last week, the kiwi remained well supported despite a slew of weak domestic data. The Aussie was a touch firmer around NZ$1.2939 after the rate review, but was still well off its December high of NZ$1.3505. Market pricing implies 67 basis points of hike in New Zealand over the next 12 months, compared to 20 basis points in Australia. -Reuters

SHANGHAI: China's yuan ended up against the dollar on Tuesday but moved below the central bank's record high daily fixing as trading thinned ahead of the week-long Lunar New Year holiday that begins on Wednesday, traders said. Despite sluggish trade, the People's Bank of China sent a strong signal to the market that the government was determined to let the yuan appreciate in the near term by fixing its daily mid-point at a record high of 6.5860 to the dollar. China's recovering economy is also giving the authorities more confidence to carry out more currency reform. HSBC's China Purchasing Managers' Index edged up in January to show solid growth in the manufacturing sector. The official PMI was above the threshold of 50 that demarcates expansion from contraction for the 23rd month. "Tuesday's mid-point signalled that the PBOC did not acknowledge the yuan's trading weakness this week," said a senior trader at a major Chinese commercial bank in Shenzhen. "The weakness was propelled by sluggish trading, with some banks and their clients buying dollars for pos-

sible demand during the Spring Festival," he said, referring to the Lunar New Year. Spot yuan ended at 6.5938 against the dollar compared with 6.6030 at Monday's close. It has now risen 3.53 per cent against the dollar since its depegging last June. The currency is expected to rise steadily after the holiday and is seen appreciating 5 to 6 per cent in 2011 based on China's economic strength and its increasing willingness to move into a more flexible exchange rate regime, traders said. Before trading began on Monday, the People's Bank of China fixed its mid-point at 6.5860, up from Monday's 6.5891. Traders said Tuesday's record high also indicative of the government's intention to create two-way trading for the yuan to deter speculation or non-stop yuan appreciation. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards were bid at 6.4580 late on Tuesday, down from 6.4630 at Monday's close. Their implied yuan appreciation in a year's time rose to 1.99 per cent from 1.91 per cent. -Reuters

Indian rupee snaps 2-day fall on firm euro MUMBAI: The rupee ended up on Tuesday, snapping a twoday fall, buoyed by a recovery in the euro against the dollar and mild dollar inflows, even as losses in domestic shares weighed on sentiment. The partially convertible rupee ended at 45.7550/7650 per dollar, stronger than its 45.90/91 close on Monday, when it had touched 46.01, its lowest since Nov. 30. It moved in a 45.7450-45.8700 band in the day. Dealers expect the rupee to trade in the range of 45.70 to 46.00 on Wednesday. "If Indian stocks are getting battered, it means foreign institutional investor funds are pulling out. We will have to concentrate on that particular factor," said Naveen Raghuvanshi, an associate vice president, and forex trader at Development Credit Bank. "Domestic stocks will have a greater say on the rupee compared to what is happening to the euro, which will have a

Source Events JPY Monetary Base y/y CNY Bank Holiday GBP Construction PMI EUR PPI m/m USD Challenger Job Cuts y/y USD ADP Non-Farm Employment Change USD Crude Oil Inventories

Forecast 7.6%

Previous 7.0%

Source

Events

Actual

Forecast

CNY AUD GBP CHF EUR EUR GBP GBP EUR

Manufacturing PMI Cash Rate Nationwide HPI m/m Retail Sales y/y German Unemployment Change Final Manufacturing PMI Manufacturing PMI Final Mortgage Approvals Unemployment Rate

52.9 4.75% -0.1% -0.4% -13K 57.3 62.0 43K 10.0%

54.1 4.75% -0.3% 2.6% -11K 56.9 58.0 47K 10.1%

53.9 4.75% 0.4% 1.8% 1K 56.9 58.7 40K 10.0%

49.8 0.8%

49.1 0.3% -29.0% 297K 4.8M

148K 2.4M

Previous Day

Dollar struggles, index hits lowest since November NEW YORK: The euro rose on Tuesday to its highest level against the dollar in more than two months after solid eurozone economic data, though the rally could start to fade given lingering worries over the region's debt problems. Easing concern over political unrest in Egypt also helped boost the euro-zone single currency. Analysts cautioned, however, that it's premature to conclude that the global fallout would be contained. The euro climbed above key resistance around $1.3740, the 38.2 per cent Fibonacci retracement of its NovemberJanuary fall. Traders said the move opened the way to a run toward $1.40, a level that likely will attract selling interest. "To me euro anywhere near $1.40 is probably a sell if we get up there," said

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

limited impact." Foreign funds were net sellers of $1.4 billion worth of shares last month. Last year, investments had reached a record $29.3 billion. One-month offshore nondeliverable forward contracts were quoted at 46.05, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 45.9800, 45.9825, 45.9800 each respectively. Total traded volume was $6.32 billion. Reuters

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

As per 22.00 PST Ask High 1.3796 1.3797 0.9410 0.9455 1.6147 1.6145 0.9924 1.0007 1.0117 1.0117 112.4800 112.6700 0.8545 0.8567 1.2977 1.2993 131.6900 131.9700 86.6100 87.1200 1330.6300 1341.3500

Bid 1.3793 0.9406 1.6143 0.9918 1.0113 112.4500 0.8541 1.2975 131.6300 86.5700 1329.2500

Low 1.3692 0.9393 1.6010 0.9921 0.9966 111.9000 0.8513 1.2908 130.9900 86.5600 1326.1800

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 01/02/2011 A USD GBP CAD EUR JPY O/N 0.23600 0.55688 0.95417 1.15625 SN 0.10938 1WK 0.25300 0.57125 0.99917 0.88750 0.11500 2WK 0.25750 0.57625 1.03333 0.88250 0.11813 1MO 0.26300 0.60000 1.08083 0.86438 0.13000 2MO 0.28750 0.66063 1.14917 0.90938 0.15563 3MO 0.31050 0.78188 1.21500 1.02500 0.18875 4MO 0.35000 0.86313 1.27667 1.08750 0.24313 5MO 0.40800 0.96625 1.33500 1.17000 0.30125 6MO 0.46075 1.08438 1.40500 1.26125 0.34750 7MO 0.51300 1.16225 1.48750 1.31625 0.39625 8MO 0.56350 1.24788 1.56083 1.37000 0.44313 9MO 0.62050 1.32938 1.62417 1.42625 0.48750 10MO 0.67225 1.40813 1.71583 1.47375 0.51438 11MO 0.72600 1.47625 1.79917 1.52500 0.54125 12MO 0.78550 1.54375 1.89250 1.58500 0.56750

Major Central Banks Overview Central Bank

Next Meeting

Last Change

Bank of Canada March 1, 2011 September 8, 2010 Bank of England February 10, 2011 March 5, 2009 Bank of Japan February 14, 2011 December 19, 2008 European Central Bank February 3, 2011 May 7, 2009 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia March 1, 2011 November 2, 2010 Federal Reserve n/a December 16, 2008

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

Division of National Bank of Pakistan (NBP) KARACHI, February 01,2011 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

85.80 137.70 117.73 85.90 91.01 85.71 13.34 1.05 14.88 67.15 15.79 22.88 11.01 13.02 306.19 28.03 66.39 23.56 23.36 0.08 2.78

85.60 137.38 117.45 85.70 90.80 85.51 13.31 1.04 14.84 66.99 15.76 22.82 10.98 12.99 305.47 27.96 66.24 23.51 23.30 0.08 2.78

85.42 137.07 117.17 85.48 90.56 85.28 13.27 1.04 14.80 66.82 15.72 22.76 10.95 12.95 304.67 27.89 66.06 23.44 23.24 0.08 2.77

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 01, 2011

KASB

BMA

ELXIR

GSL

ICSL

0-7days

12.70

12.55

12.60

12.95

12.60

12.67

8-15dys

12.80

12.75

13.00

JSCM AvgRate 12.70

12.80

16-30dys

12.85

12.90

12.85

13.10

12.80

12.90

31-60dys

13.28

13.15

13.30

13.35

13.10

13.22

61-90dys

13.40

13.35

13.44

13.45

13.40

13.41

91-120dys

13.50

13.52

13.49

13.54

13.55

13.50

13.52

121-180dys

13.54

13.58

13.55

13.65

13.55

13.58

181-270dys

13.62

13.68

13.66

13.75

13.65

13.67

271-365dys

13.75

13.78

13.76

13.82

13.80

13.75

13.78

2-- years

14.05

14.15

14.02

14.00

14.05

14.00

14.05

3-- years

14.14

14.22

14.15

14.23

14.20

14.18

14.19

4-- years

14.18

14.25

14.16

14.24

14.22

14.20

14.21

5-- years

14.20

14.23

14.18

14.25

14.20

14.21

6-- years

14.20

14.30

14.26

14.28

14.30

14.27

7-- years

14.22

14.30

14.29

14.30

14.35

14.33

14.30

8-- years

14.23

14.28

14.24

14.30

14.23

14.25

9-- years

14.24

14.12

14.15

14.20

14.17

10--years

14.25

14.17

14.19

14.20

14.22

14.18

14.20

15--years

14.60

14.65

14.55

14.70

14.62

20--years

14.80

14.75

14.90

14.75

14.85

14.80

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

AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD

week month months months year years

-0.14 -0.36 -0.16 0.35 -0.16 -0.39

0.73 0.92 0.87 0.69 0.84 0.91

0.27 0.63 0.55 0.69 0.78 0.64

0.84 0.93 0.86 0.84 0.47 0.72

0.49 0.86 0.85 0.81 -0.10 0.41

USD/CAD USD/CHF

-0.13 0.09 0.47 0.41 -0.32 -0.33

-0.83 0.20 0.31 -0.24 -0.04 0.40

0.23 -0.31 0.30 -0.25 0.34 0.26

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/02/2011 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

ABLN 12.30

12.80

12.40

12.90

12.70

13.20

13.30

13.55

13.60

13.85

13.70

14.20

13.80

14.30

14.00

14.50

0.00

ASPK 12.60

13.10

12.70

13.20

12.90

13.40

13.65

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

CIPK

12.50

13.00

12.50

13.00

12.65

13.15

13.40

13.65

13.60

13.85

13.80

14.30

13.90

14.40

14.10

14.60

DBPK 12.50

13.00

12.55

13.05

12.70

13.20

12.40

12.65

12.50

12.75

13.55

14.05

13.65

14.15

13.80

14.30

FBPK 12.60

13.10

12.70

13.20

12.75

13.25

13.45

13.70

13.60

13.85

13.70

14.20

13.85

14.35

13.90

14.40

FLAH 12.60

13.10

12.75

13.25

12.85

13.35

13.50

13.75

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

HBPK 12.60

13.10

12.70

13.20

12.80

13.30

13.50

13.75

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

HKBP 12.50

13.00

12.65

13.15

12.85

13.35

13.45

13.70

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

NIPK

12.65

13.15

12.85

13.35

13.10

13.60

13.35

13.60

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

HMBP 12.65

13.15

12.75

13.25

12.90

13.40

13.65

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

SAMB 12.50

13.00

12.75

13.25

12.90

13.40

13.45

13.70

13.55

13.80

13.55

14.05

13.75

14.25

13.85

14.35

MCBK 12.50

13.00

12.60

13.10

12.70

13.20

13.45

13.70

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

NBPK 12.50

13.00

12.70

13.20

13.00

13.50

13.75

13.60

13.85

13.75

14.25

13.90

14.40

14.00

14.50

SCPK 12.30

12.80

12.40

12.90

12.70

13.20

13.40

13.65

13.45

13.70

13.65

14.15

13.75

14.25

13.90

14.40

UBPL 12.45

12.95

12.60

13.10

12.65

13.15

13.45

13.70

13.60

13.85

13.65

14.15

13.80

14.30

13.90

14.40

AVE

13.03

12.66

13.16

12.79

13.29

13.43

13.68

13.57

13.82

13.67

14.17

13.78

14.28

13.88

14.38

JSBL

12.53

ASK

4 Wednesday, February 2, 2011

The Financial Daily International Vol 4, Issue 170

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

A BILLION DOLLAR QUESTION

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

Bad nods, worst ends The decision to curtail gas supply of fertiliser plants will cost a fortune to Pakistan. Import of 225,000 tonnes of urea will erode Pakistan's foreign exchange reserves by $100 million and the government will also have to pay nearly Rs5 billion as subsidy. On top it, it is feared that the required quantity of urea will not be available when it'll be needed the most. Resulting shortage can lead to black marketing, which will not allow the farmers to apply appropriate dosage of nutrients and in turn affect wheat production. To begin with the policy planners decided to curtail gas supply of fertiliser plants and divert it to power plants contrary to the expert advice, who were of the opinion that: 1) curtailing gas supply of fertiliser plants and diverting it to power generation companies will not have any positive impact on generation companies, 2) import of urea will be too bad a proposal, and 3) any delay in import of urea will have adverse impact on wheat production. They had suggested that government should pay the differential between cost of furnace oil and gas to the generation companies. Alas planners paid no heed. First they created an impression that urea will be imported from Saudi Arabia on deferred payment. Then they could not decide who will import it. Now they have reached a point where deferred payment facility is not available and the Trading Corporation of Pakistan (TCP) is being urged to ensure urea delivery within the first fortnight of this month. One point seems certain that the required quantity of urea will not be available in Pakistan at the time of need. Industry experts had suggested that gas supply of fertiliser plants should not be disrupted, which would have not necessitated urea import. It was also suggested that to avoid any shortfall urea manufacturers should be asked to import the deficit quantity at their own and bear the cost difference if any. It was also suggested that each manufacturer should be allocated imported urea on the basis of its market share. Following these recommendations could have saved the government from a lot of hassle. History shows that involving TCP in urea import not only costs colossal losses to the government but the farmers as well for the fertiliser failed to reach them appropriately. As a result middlemen minted millions of rupees. The only regret is that policy planners never learn from past mistakes. If some hue and cry is made, showcause notices are issued to a few officials, some are suspended or transferred but the business continues as usual. The time has come so prosecute those who slap these losses on the economy.

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.

ZAHID BUKHARI

have been asking question that "what is mind" since the beginning of the year of 2007, from educated persons, known or strangers at appropriate time and proper places, here at Karachi. By now it would have been more than 250 persons to whom I asked differently as to what they think of "Mind" and they understand of "MIND POWER". To my utter surprise the common answer was it is the brain, and it is the physical part of the body. All this means that generally we as a nation attain education for the sake of certificates and degrees, and knowledge based education is rare in my country Pakistan. I studied economics, worked in a bank for more than three a half decades and retired during 1997. One question always bothered me that it is how and why those persons of same age, qualification, belonging to the same society differ a lot in their approaches of understanding, achievements and deliverance in quality. I put this question to me, time and again since my youngness. When I could not reach perfectly to any absolute answer, I entered into the world of books. Here I am presenting a small summary of the opinions of philosophers, for the benefits, advantages and understandings of all. In the end I am also writing my opinion about mind in brief. MIND. The most ancient peoples took mental phenomena to be displayed through out nature. The behavior of the sea, the weather, the rivers and of the sun and moon where all soberly explained in terms of desires or caprice of a mind or consciousness that in some way inhabited them. The sea could display fury, exacting vengeance for some slight, the sun would dispense seasonal warmth, out of periodic generosity and the rain

would fall in considerate response to ritual requests. Such humanization of nature is called animism. It attempts to explain the behavior of all things in terms that are properly applied only to humans and to comparably complex creatures. By 500 B.C. Greek Philosopher Democritus (460 - 370 B.C.) Plato (429 - 347 B.C.) and Aristotle (384 322 B.C.) gave their view points about mind and mental powers. Democritus held that creatures with conscious intelligence were distinguished by special shapes and collective organization of atom that made up their bodies. According to atomism the universe consists of just two things (1) empty space (2) innumerable atoms in ceaseless motions and interaction. A mind, he reasoned must therefore be nothing but a particularly

activities. A body with a mind is not two things but just a body of certain kind: a body with mental properties. Unlike Democritus, however, Aristotle did not regard the various mental properties are a distinct class of properties in their own right, irreducible to properties at any simpler level. In 16th and 17th centuries, the European thinkers have surprised the Greek achievements in astronomy, physic and physiology. Collectively, their work provided an essentially mechanical conception of most natural phenomena, and the position of mind in the cosmos was again seen as problematic. One response taken by Rene` Descartes was new and more radical from substance dualism. He made the novel claim that the mind is entirely without extension in space, whereas

â&#x20AC;&#x153;

The behavior of the sea, the weather, the rivers and of the sun and moon where all soberly explained in terms of desires or caprice of a mind or consciousness that in some way inhabited them. The sea could display fury, exacting vengeance for some slight, the sun would dispense seasonal warmth, out of periodic generosity and the rain would fall in considerate response to ritual requests.

exquisite organization of suitable atoms, interacting with one another and with the environment to produce both the internal and external activities of conscious creature. The mind comes together at birth and dissolves forever at death. The Greek Philosopher Plato held a different theory. A mind is a non physical thing, which enjoys and existence independent of body, both before the body's birth and after its death. The Greek Philosopher Aristotle refused to go this far. The mind was not a thing, separate and distinct from physical body. Rather, it was the "FORM" of the body, in most general sense of the term "FORM" that includes all of body's properties and

extension in space is the very essence of matter. To this he added another novel claim, that mind is capable of a clear and distinct apprehension, a perfect understanding, of its own essential nature. The essence of mind, he reported, is the activity of thinking, the capacity for reasoned thought. The German Philosopher Immanuel Kant (1724 - 1804) made a fundamental contribution to the debate. In the critique pure reason (1781) he argued that the familiar human experience of external world is in large measure constructed by the active human mind understanding impose a necessary order on the chaos of raw sensory input. The material objects of our constructed, experience may therefore be

empirically real for all human experience but they need not be transcendentally real from a possible God's point of view. What reality in itself is like remains unknowable by humans. An unbelievable comprehensive volume work has done on this very amazing subject "What Mind Is" through out the world, during last about 3 to 4 centuries. But it has not as yet been settled, what mind is on one point. Perhaps it can only be settled in the science laboratory with felt and seen results, and that time is not far away. MIND IN MY OPINION We all men and women may not know or have different opinion on the very existence of mind, as what is it and where it is, but one thing is sure that we all feel and realize it. In my opinion (which may be wrong) 5 to 10 million years ago, there were all animals in this majestic world. In between all the races of animals on the surface and in the sea, there was a race like that of gorilla and monkeys less powerful in physique but mentally a bit more strong, it was power of mind which helped this race some how to convert it slowly but surely into humans. Perhaps it was weak physique of this race which kept it more fearful, unsecured, apprehensive, dreadful and frightening because of presence of mighty beast side by side. A rapidly continued sense of being killed and eaten away kept this very race on its toes, very alert, while awake or in the sleep. Consequently all nerves and organs including brain remained on the move without any rest. It is possible that very nerve system with the body created new cells or strengthening the nerve system very strong. And this might process very slowly transferring this power from generation to generation which finally turned this breed of animal to human. I believe in this process as humanity is still progressing with the passage of time which may be call as MIND or mind power, which exists within the human body. The persons, who utilize their mental power in better way, live their lives in better manner, if other things remain the same. I have been writing a book on mind and mind power with a different approach, and that will be published during last months of 2012. Sr Vice President HBL (Retired)

Pakistani Pitfalls & Future of Egypt A

ll countries are unique and comparing two of the world's most populous Muslim countries, Egypt and Pakistan, is as risky as comparing Britain to France at the time of the French Revolution. But many of the challenges likely to confront Egypt as it emerges from the mass protests against the 30year-rule of President Hosni Mubarak are similar to those Pakistan has faced in the past, and provide at least a guide on what questions need to be addressed. In Pakistan, they are often summarised as the three A's - Army, Allah and America. Both have powerful armies which are seen as the backbone of the country; both have to work out how to accommodate political Islam with democracy, both are allies of America, yet with people who resent American power in propping up unpopular elites. As my Reuters colleague Alastair Lyon writes, Egypt's sprawling armed forces - the world's 10th biggest and more than 468,000-strong - have been at the heart of power since army officers staged the 1952 overthrow of the monarchy. Mubarak's announcement that he was naming his intelligence chief Omar Suleiman as vice-president was seen as a move towards an eventual, military-approved handover of power. And Egyptian protesters have sometimes tried to see the army as their ally - an institution that puts country first before personal gain. Yet armies, as Pakistan has discovered over its many years of on-again off-again military rule, are not designed for democracy. They are designed to be efficient, and with that comes the hierarchy and obedience to authority that would seem alien to many of those out on the streets of Cairo. In his book about the Pakistan Army, defence expert Brian Cloughley writes about how the British general, the

Duke of Wellington, responded to democracy in his first cabinet meeting as prime minister: "An extraordinary affair. I gave them their orders and they wanted to stay and discuss them." The story is told as part of an argument about why the Pakistan Army has never been particularly successful at running the country. "All Pakistan's army coups have been bloodless, successful and popular - but popular only for a while," he writes. "The trouble is that military people are usually quite good at running large organisations,

beyond their weak showing at the ballot box. It has reached the point where no government - either civilian or military has dared challenge them on issues of faith. When Salman Taseer, governor of Punjab province, was shot dead by his own security guard earlier this month over his opposition to the country's blasphemy laws, his killer was celebrated as a hero. Few dared speak out and most of Taseer's colleagues in the ruling Pakistan People's Party (PPP) were quick to insist there would no changes to the laws.

"This emergence of the Prophet as a centralising and orienting raison d'etre for Pakistan, however, was not merely an organic outgrowth of a religiously inclined society, it was a deliberate state policy, aided by Islamist parties, to mould public faith. The blasphemy riots of the 1950s, when the Ahmadi sect was violently resisted by the Jama'at-i Islami, had taught one clear lesson to the religious right: the veneration of Muhammad was great political theatre with infinite malleability for nearly every segment of the Pakistani population." U n l i k e Pakistan, Egypt has more ethnic homogeneity and, with its large Coptic population, greater religious diversity so - on paper at least political Islam would be less obvious as a unifying force. The Muslim Brotherhood, founded like the Jamaat-e-Islami in opposition to British rule, has taken a low profile in the Egyptian protests, though as former Reuters bureau chief in Cairo Jonathan Wright argues in his blog, this may be a deliberately calibrated stance. "The Brotherhood, like Islamist groups in many Arab countries, has cold feet about governing. It does not feel it is ready. This is reflected in its official strategy of concentrating on a political reform agenda which it shares with many other groups - free and fair elections, rule of law, a new constitution with checks and balances and so on. What the Brotherhood wants most in the short term is the freedom to organize and promote its ideas in a democratic environment, regardless of who is in government. The Brotherhood

Both have powerful armies which are seen as the backbone of the country; both have to work out how to accommodate political Islam with democracy, both are allies of America, yet with people who resent American power in propping up unpopular elites. even civilian ones, but generally fail to understand politics and government, and the giveand-take so necessary in that esoteric world." It is a lesson that may yet need to be learned in Egypt. As Amil Khan wrote from Islamabad in his Twitter feed, "Love the way Pakistani twitterers puzzled by Egyptians' trust in army. Guys, you're kinda similar, but kinda different." Then there is political Islam. Both Pakistan and Egypt have powerful religious parties which have their roots in Islamist movements born out of Muslim resentment against British colonial rule. In Pakistan, the Jamaat-e-Islami, founded in then British India, has, along with other religious parties played a disproportionately significant role in setting the agenda which goes well

Many attribute the grip of religious parties on Pakistani society to the use of Islam as a means of uniting the country's different ethnic groups, to past support by its military for mujahideen fighting the Soviets in Afghanistan and then the Indians in Kashmir, and to the Islamicisation policies of General Zia-ul-Haq. But over the years every politician has made use of the religious parties to bolster their support, including PPP founder Zulfiqar Ali Bhutto, who declared the minority Ahmadi sect as non-Muslims in 1974, and was later deposed and hanged by Zia in 1979. In particular, argues Manan Ahmed in this essay titled "Pakistan's crisis can't simply be explained by religion", Pakistan politicised reverence for the Prophet Mohammed.

believes that, given freedom and time, it can win over Egyptians to its long-term agenda." The Pew Global Attitudes Survey released in December also suggested that Egyptians might actually be more in favour of Islam playing a role in society than Pakistanis. Ninety-five percent of Egyptians questions said it was good for Islam to play a large role in politics, compared to 88 percent of Pakistanis. "At least three-quarters of Muslims in Egypt and Pakistan say they would favor making each of the following the law in their countries: stoning people who commit adultery, whippings and cutting off of hands for crimes like theft and robbery and the death penalty for those who leave the Muslim religion," it said. Finally there is America, which has propped up military rulers in both countries and used generous quantities of American aid to buy support first against communism and then against militant Islam. In Pakistan, the United States is already struggling to foster civilian, democratic rule at a time when it is deeply distrusted. It is likely to face similar challenges in Egypt if it chooses, and manages, to go down that route. Moreover, while the United States was able to underpin the growth of stable, secular democracies in Europe following World War Two with huge amounts of trade and aid, the world nowadays is still recovering from financial crisis. And as a local English newspaper noted, the world's Muslim populations face faster-thanaverage growth rates at a time of increasing global competition for resources. At least some of the unrest in the Middle East, especially in Tunisia, was fuelled by anger over rising food prices. It is not an easy time for any country to win over people looking for an end to poverty and unemployment.-Reuters

Wednesday, February 2, 2011

South East Asian stocks

Indonesia firm, Thailand down, energy in demand

European shares rise on manufacturing strength

KSE turns losses on economic concerns

KSE-100 Index Opening Closing Change % Change Turnover (mn)

12,359.36 12,273.38 85.98 0.70 132.74

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

3,774.83 3,715.48 59.35 1.57 4.34

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

3,026.54 3,024.86 1.68 0.06 0.13

Nawaz Ali

Major Gainers

Symbol

Change

NESTLE 3,490.06 CPL 203.24 FZTM 440.13 LAKST 268.99 SHEZ 181.70

85.42 9.67 6.27 5.83 5.72

Major Losers

Symbol

Change

ULEVER 4,372.13 COLG 940.08 RMPL 2,350.00 WYETH 999.99 PSO 290.01

-158.11 -35.35 -35.08 -28.01 -9.02

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA PTC ANL NML FFBL

15.15 18.69 10.96 64.24 40.63

18.44 7.89 7.75 7.16 6.75

Active Issues Plus Minus Unchanged

108 263 23

Sector Updates FERTILISER 000 tonnes

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

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

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

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

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

KARACHI: A stockbroker sits in a booth as he looks at the latest share prices during a trading session inside the trading hall of the Karachi Stock Exchange here on Tuesday.-Reuters

Dutch diplomats take a KSE tour Staff Reporter KARACHI: A delegation from the Embassy of the Kingdom of Netherlands in Pakistan, called on the Acting Managing Director and senior management of Karachi Stock Exchange (KSE) here on Tuesday. Deputy Head of Mission, David Kuijper led the delegation. He was accompanied by Peter A Felix, Commercial Officer. Haroon Askari, Acting Managing Director KSE pre-

Indian shares at 5-moth low MUMBAI: The BSE Sensex fell 1.7 per cent on Tuesday to its lowest close since August, extending January's worst monthly slide in more than two years, as inflation worries and hardening interest rates continued to spook investors. Traders said rising world oil prices, triggered by concerns the political turmoil in Egypt could spill over to the Middle East, could accelerate price pressures in India which imports about 80 per cent of its oil requirement. Energy major Reliance Industries and frontline software and financial stocks were

DEWAN FAROOQ MOTORS

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

OIL MARKETING CO (000 tons)

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

among the losers, as risk appetite among foreign investors took a hit. "People are reviewing their position. The major monetary indicators which foreign investors look at are all negative. So, money with a shorter term perspective is fleeing," said Sanjeev Patkar, research director at Almondz Global Securities in Mumbai. Input prices jumped in Chinese and Indian factories in January, adding to pressure from food inflation that the fast-growing economies are already struggling to contain, See # 8 Page 11

ANNOUNCEMENTS

Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0

MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)

sented a brief overview of Pakistan's economy, and highlighted the efforts made by the KSE management for the development of capital market and steps taken for seeking new listing at KSE. David Kuijper appreciated the KSE Management for their contribution to the development of capital market and its positive effect on economy of Pakistan. He agreed to enhance cooperation between KSE and Amsterdam market.

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

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

Company Adil Textile Abdullah Shah Dewan Sugar AL-Abbas sugarXD Merit Pack

Period 1st Qtr 1st Qtr 1st Qtr 1st Qtr Half Yearly

Div/Bon/Right -

PAT (Rs in mn) -5.65 119.50 -150.44 57.40 4.26

EPS(Rs) -0.73 1.51 -4.12 3.31 0.90

Seoul mkt tad up ahead of Lunar New Year SEOUL: Seoul shares staged a mild recovery in thin trade on Tuesday as investors remained cautious on the global economic outlook ahead of the Lunar New Year Holidays. "Besides the long holidays ahead, growing concerns over uncertainties in the global economy weighed on the gaining trend during the day," said Lee Sang-jun, a market analyst at Goldenbridge Investment & Securities. The Korea Composite Stock Price Index ended up 0.11 percent at 2,072.03 points. Foreign investors continued selling for a third consecutive session, unloading a net 146.2 billion won ($131.1 million) worth of stocks. Institutions were buyers of a net 69.1 billion won. The world's No.3 steelmaker climbed as much as 3.4 percent on growing optimism over its overseas growth prospects after India gave a nod to its longdelayed project to build a $12 billion steel mill. "The approval will help POSCO draw up a blueprint for its overseas expansion to boost capacity." said Bang Min-jin, an analyst at Solomon Investment & Securities. Financial issues rose on a positive outlook for this year and improved margins, shrugging off fears that the anti-government protests in Egypt may rattle the local financial market. KB Financial Group rose 1.2 percent while Hana Financial Group gained 2.4 percent.-Reuters

KARACHI: Bearish activities continued at the Karachi Stock Exchange for the second day as local investors were bent on offloading amid economic concerns after government decided to keep the petroleum prices unchanged for another month. The benchmark KSE 100Index fell by 85 points to close at 12,273 points, KSE 30-Index by126 points to close at 11,883 points and KSE All Share Index by 64 points to close at 8,504 points. "Bearish activity dwelled ahead after government statusquoed POL prices despite a rising Brent crude across the globe only to avoid public backlash against proposed price hike coupled with the proposal of removing deemed duty on oil refineries", said Ahsan Mehanti, Director Arif Habib Investments. Concerns over rising circular debt in energy sector and fiscal deficit affected investor sentiments, he added. Despite the fact that interna-

tional oil prices hovered around $100 per barrel the Oil & Gas Regulatory Authority (OGRA) decided to keep the POL prices unchanged at the eleventh hour. This according to experts would increase the fiscal deficit and therefore government is unlikely to achieve the targets agreed with International Monetary Fund (IMF). After a slight negative start market witnessed some volatile activities during the first one and a half hours moving on both sides of the index where it touched an intraday high at12,420 points (+ve 61 points). However, then renewed selling pressure by local investors on economic worries kept the market in the bearish zone till the closing bells. Further, the uncertainty regarding the removal of deemed duty on refineries and oil marketing companies kept respective stocks down. Therefore red numbers were increased and index near around mid-day touched the lowest level of the day at 12,174 points See # 5 Page 11

Nikkei off 1-mth low on earnings TOKYO: Japan's Nikkei average edged off a one-month closing low on Tuesday, with oil-related shares up on unrest in Egypt and companies with upbeat earnings such as Honda Motor Co finding favour. Gains were limited amid fears that China may embark on further tightening steps ahead of the Lunar New Year holiday that starts on Wednesday and as the yen hovered near a 4-week high against the greenback, pressuring exporters. Refiners and trading houses rose after Brent crude topped $100 a barrel for the first time

since 2008 on Monday, helped by concerns that oil shipments through the Suez Canal could be disrupted if unrest in Egypt spread. But relief that the turmoil did not seem to be escalating helped provide a floor for the market. "Investors are finally able to focus on corporate earnings and some stocks are set to benefit from expectations for their results and forecasts," said Masumi Yamamoto, a market analyst at Daiwa Securities Capital Markets. See # 6 Page 11

US stocks late-morning

Wall St gains on earnings, factory data NEW YORK: US stocks rose on Tuesday as investors shifted focus to strong earnings and manufacturing data and less on the turmoil in the Middle East. The S&P and the Nasdaq rose more than 1 per cent after data showed the US manufacturing sector expanded at its fastest pace in seven years. Pfizer Inc shares rose 5.1 per cent to $19.15 after the Dow component's income and revenue topped estimates. The drugmaker also announced a new share-repurchase program of up to $5 billion of its common stock. "Despite recent headlines (about Egypt), the market's run extended to five months in January, with the S&P 500 up 2 per cent on robust incoming data," said Jonathan Golub, strategist at UBS in New York. "While skeptics might attribute the recent ascent in stock prices to animal spirits, we believe that fundamentals are the real story behind the market's success. The Dow Jones industrial average was up 96.20 points, or 0.81 per cent, at 11,988.13. The Standard & Poor's 500 Index rose 15.73 points, or 1.22 per cent, at 1,301.85. The Nasdaq Composite Index gained 38.14 points, or 1.41 per cent, at 2,738.22. Trading volume was about 2.5 billion shares by early morning, with advancing stocks beating the decliners by a ratio of about 4 to 1. More than 200,000 Egyptians poured into central Cairo in the biggest demonstration so far against President Hosni Mubarak's authoritarian rule. But investors seemed less jittery over the event. Oil prices that have been rallying in the past couple of days on fears of disruption in production in the Middle East fell 0.5 per cent to $91.72 a barrel. The CBOE Volatility index, Wall Street's so-called fear gauge, fell for a second day, down more than 10 per cent at 17.53. United Parcel Service Inc rose 3.9 per cent to $74.43 after profit at the world's largest See # 7 Page 11

Dhiyan

ITâ&#x20AC;&#x2122;S GONNA BE RED & GREEN Naeem Rafi, CEO Rafi Securities

The current profit taking might continue but index can see a rebound at 12,000 points level provided government stays in the International Monetary Fund (IMF) programme. Investors are therefore advised to invest at around 12,000 points level in fertiliser, power, and banking sectors. They can also invest in selective cement stocks. However if IMF removes Pakistan from its programme then we can see foreign selling due to which market could see a drastic decline. Today market CNOOC rose 2.7 per cent, would remain volatile moving on both sides of the index.

HK, China mkts edge up, but holidays hit turnover HONG KONG/SHANGHAI: Chinese shares edged up on Tuesday, with market players expecting inflation to remain a near-term concern but seeing attractive valuations lifting the market after the Lunar New Year holiday. Volume in Shanghai and Hong Kong remained light with investors largely on the sidelines ahead of the weeklong market holiday in China starting on Wednesday. Turnover on the Hong Kong bourse, which will be closed on Thursday and Friday, fell to its lowest since Jan. 3. Input prices jumped in China, the purchasing managers' index data released earlier showed, suggesting policy makers would stay the course in monetary tightening. "I think inflation is still a

key concern, as it is most Asian countries, even though China's response was actually one of the earliest," said William Fong, a Hong Kongbased portfolio manager for Barings Asset Management, who runs Greater China funds for the firm. "Once the government achieves its breakthrough in terms of containing inflation, which I expect will happen later this year, valuations will be a big tailwind for the market." While a lot of the inflation was food-related, a spike in oil prices on the back of political unrest in Egypt was a concern, analysts said. Nevertheless, the rise in crude oil prices, which has taken Europe's benchmark Brent crude futures above $100 a barrel, lifted shares of major oil producers.

the top performer on the Hang Seng, while rival Petrochina as up 2.6 per cent, leading the energy subindex up 1.4 per cent on the day. PUSH AND PULL The advance in energy shares helped the Hang Seng index snap a three-day decline. The shaky start to the year for mainland markets had put a dent in a rally in Hong Kong stocks as short-selling rose in the latter half of January. Bearish bets, particularly on Chinese stocks listed in Hong Kong, rose on Monday with the shorted volume on the iShares FTSE A50 China tracker fund rising to 32.1 per cent of overall turnover, the highest in two weeks, as of the close.-Reuters

Muhammad Ahsan Rasheed, Director Research & Marketing AMJ Growth Market may rebound today and stay in the positive zone. Thereafter we would see some rangebound activities in the coming days with index moving between 12,420 and 12,141 points while it has a strong support at 12,080. The launch of Margin Trading System (MTS) with its favourable rules would be the only factor that would trigger the market while foreign inflows are going to be the major support. Invest with stop loss and avail the trading opportunities in cement & oil sectors with 'buy on dips' and 'sell on strength' strategy. Focus on discounted bluechips.

Wednesday, February 2, 2011

Market 132,737,587

Value

6,888,400,094

Trades

74,825

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

108 263 23 394

All Share Index

12,273.38 12,420.31 12,174.58 i85.98

Current High Low Change

KSE 30 Index

8,504.34 8,611.60 8,436.89 i64.70

Current High Low Change

KMI 30 Index Current High Low Change

11,883.38 12,080.11 11,800.19 i126.41

19,762.80 20,114.19 19,581.72 i240.48

OIL AND GAS

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index

Performance of SR Industrial Transportation Index

Open 1,575.91 Turnover 9,667,311 P/E (x) 11.34 Company

KSE 100 Index

Symbols

Volume

High Low 1,589.74 1,551.56 Total cos Defaulter cos P/BV (x) ROE (%) 3.69 32.54

Open

High

Low

Attock Petroleum 691 6.88 384.13 Attock Refinery 853 5.19 132.40 BYCO Petroleum 3921 - 10.53 Mari Gas Company 735 17.41 130.00 National Refinery 800 6.34 310.03 Oil & Gas Development 43009 11.62 171.94 Pak Petroleum 11950 7.73 208.82 Pak Oilfields 2365 7.54 324.77 Pak Refinery Limited 350 - 107.53 P.S.O 1715 4.91 299.03 Shell Gas LPG 226 - 32.17 Shell Pakistan 685 10.70 210.91

387.90 134.30 10.68 130.97 317.00 172.50 212.70 329.71 108.50 298.40 32.00 211.00

372.00 125.78 10.25 127.65 298.50 169.55 208.01 323.10 102.16 285.50 31.05 205.90

Close Chg 380.99 127.42 10.35 128.52 305.77 171.78 211.34 327.03 103.77 290.01 31.95 208.66

-3.14 -4.98 -0.18 -1.48 -4.26 -0.16 2.52 2.26 -3.76 -9.02 -0.22 -2.25

Close Change 1,573.96 -1.95 Listed cap Market cap 65,194.15 mn 1,212,264.10 mn Payout (%) Div Yield (%) 55.94 4.93 Last 60 days High Low

Volume 558533 2967538 770640 33308 656741 888020 1102855 2082547 65808 1242328 3617 66016

401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00

293.10 103.66 10.25 117.00 218.00 153.62 185.03 241.00 78.00 271.10 31.05 190.00

% Change -0.12 5-Day High 1,607.87 5-Day Low 1,573.96

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

2011 Div BR (%) (%)

20B115.00 - 15.00 20B 50.00 -100.00 -

CHEMICALS

Open 733.33 Turnover 43,023 P/E (x) 5.60 Company

Paid up Cap(mn)

Pak Int Container Terminal 1092 PNSC 1321

High Low 758.07 715.13 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53

Open

High

Low

7.04 39.41

70.78 37.16

73.75 37.40

69.00 36.21

Close Chg 70.41 36.26

-0.37 -0.90

Close 726.61 Listed cap 3,242.17 mn Payout (%) 11.08

Change -6.72 Market cap 12,727.84 mn Div Yield (%) 1.98

Volume

Last 60 days High Low

40369 2654

76.65 39.45

68.00 32.36

Company

Paid up Cap(mn)

High Low 1,612.39 1,543.51 Total cos Defaulter cos P/BV (x) ROE (%) 3.34 35.00

Open

High

Low

Agritech Limited 3924 8.59 Bawany Air 75 68.83 Biafo Ind 200 4.67 BOC (Pak) 250 13.04 Clariant Pak 273 7.27 Dawood Hercules 1203 8.37 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.79 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.09 Fauji Fert.Bin Qasim 9341 7.67 Ghani Gases Ltd 725 8.60 ICI Pakistan 1388 7.94 Leiner Gelatine 75 Lotte Pakistan 15142 5.57 Mandviwala 74 Nimir Ind Chemical 1106 Sardar Chemical 60 Sitara Chem Ind 214 9.63 Sitara Peroxide 551 14.46 United Distributors 92 Wah-Noble 90 7.13

24.74 8.18 41.89 93.91 193.57 204.14 2.82 7.72 2.89 11.00 212.82 13.02 11.49 152.42 41.02 11.55 147.45 12.99 15.34 1.44 1.94 1.10 120.00 13.28 14.40 37.75

23.96 8.26 43.00 97.88 203.24 207.00 3.05 7.90 3.03 10.85 217.97 13.09 11.64 153.55 41.43 11.89 148.75 13.99 15.55 1.45 2.20 0.93 117.50 13.49 14.45 37.47

23.51 7.35 41.11 93.75 203.24 199.99 2.70 7.20 2.80 10.85 213.00 12.51 10.70 145.10 40.02 11.21 140.50 13.50 14.60 1.20 2.00 0.92 116.00 12.90 14.00 36.90

Close Chg 23.70 8.26 43.00 94.95 203.24 201.77 2.71 7.46 2.84 10.85 214.59 12.88 10.96 147.66 40.63 11.35 141.02 13.99 15.15 1.44 2.01 0.92 117.50 13.30 14.32 37.09

-1.04 0.08 1.11 1.04 9.67 -2.37 -0.11 -0.26 -0.05 -0.15 1.77 -0.14 -0.53 -4.76 -0.39 -0.20 -6.43 1.00 -0.19 0.00 0.07 -0.18 -2.50 0.02 -0.08 -0.66

Close 1,566.27 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 18401 519 255 11542 11285 39835 46522 159471 660353 104 4602383 448820 1401440 3612758 6745126 29589 628169 3464 18436436 2392 3407035 18000 515 235841 229 500

Change -24.90 Market cap 344,004.74 mn Div Yield (%) 5.12

26.73 10.50 59.20 103.94 209.98 215.00 3.74 9.25 4.24 13.79 222.80 15.87 12.64 157.90 43.99 13.07 158.49 21.66 16.49 2.50 2.74 1.40 139.40 14.69 14.45 41.99

20.26 7.16 41.11 75.00 149.72 165.73 2.11 5.42 1.47 9.15 175.40 12.51 9.16 107.25 31.00 11.00 124.50 9.99 10.14 1.01 1.36 0.90 101.00 12.60 8.51 32.00

% Change -1.57 5-Day High 1,608.20 5-Day Low 1,566.27

2010 Div BR (%) (%) 5 45 15 135 40 15 40 130 52.5 55 5 25 50

2011 Div BR (%) (%)

10R - 12.50 25B 25B 5B -

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,059.18 Turnover 75,568 P/E (x) 5.26 Company

High Low 1,060.06 1,021.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.39 7.47

Close 1,041.16 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

Open

High

Low

Close Chg

Volume

707 50 411

8.13 6.76

15.53 44.45 39.10

15.97 43.60 38.50

15.00 42.23 37.76

15.70 0.17 42.25 -2.20 37.85 -1.25

63524 1778 10266

Century Paper Pak Paper Product Security Paper

Change -18.02 Market cap 2,886.26 mn Div Yield (%) 4.80

Last 60 days High Low 19.69 48.90 47.70

15.00 39.00 37.76

% Change -1.70 5-Day High 1,177.60 5-Day Low 1,041.16

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

2011 Div BR (%) (%) -

Paid up Cap(mn)

High Low 1,287.84 1,253.32 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 25.35

Open

High

Low

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

144 5.47 74.04 101 5.93 198.13 247 35.20 37.55 626 9.36 134.08 890 2.00 56 4.87 203.30 598 20.04 23.79 450 3.24 4.70 200 6.72 4.73 1428 - 11.27 786 6.62 292.44 823 10.29 65.69 150 4.19 22.72 117 1.95

73.00 199.99 39.42 135.49 2.14 205.99 24.00 4.97 5.48 11.50 292.30 65.75 22.80 1.90

72.00 196.00 36.16 132.00 1.95 195.00 23.10 4.65 4.15 10.66 285.05 64.50 22.25 1.89

Close Chg

Close 1,270.95 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change -14.48 Market cap 46,941.31 mn Div Yield (%) 4.36

Last 60 days High Low

Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin

Open

High

Low

565 3.04 675 555 9.06 1199 18.75 785 10.23

29.49 2.58 14.80 51.73 9.12

29.80 2.65 14.75 52.00 9.30

28.61 2.53 14.50 50.60 8.85

Close Chg 29.03 2.60 14.50 51.57 9.00

-0.46 0.02 -0.30 -0.16 -0.12

Close 1,030.70 Listed cap 3,596.11 mn Payout (%) 30.91

134003 16707 4407 10774 4651

31.00 3.29 16.51 62.20 10.70

Open 1,856.14 Turnover 287,450 P/E (x) 45.29 Company Adam Sugar XD AL-Noor Sugar XD Chashma Sugar XD Clover Pakistan Colony Sugar Mills Crescent Sugar Dewan Sugar Faran Sugar XD Habib SugarXDXB Habib-ADM Ltd Ismail Ind J D W SugarXDXB Kohinoor Sugar Mehran SugarXDXB Mirpurkhas Sugar Mirza Sugar XD Mithchells Fruit XD National Foods Nestle Pakistan Noon Pakistan Noon Sugar Pangrio Sugar XD Premier Sugar XD Quice Food Sakrand Sugar Sanghar Sugar XD Shakarganj Mills Tandlianwala UniLever Pakistan Wazir Ali

Paid up Cap(mn) 58 186 287 94 990 214 365 217 750 200 505 539 109 157 84 141 50 414 453 48 165 109 38 107 223 119 695 1177 665 80

Change -9.86 Market cap 9,933.80 mn Div Yield (%) 8.93

24.00 2.50 13.30 44.00 8.51

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Shabbir Tiles Thatta Cement

Open

High

Low

1828 866 6.77 858 182 3257 956 23.61 982 12.69 948 3891 3651 120.75 6933 14.52 502 3.66 1760 77 32 1288 13126 3234 6.30 5261 1.22 2228 361 798 447.50

3.00 53.96 2.51 20.82 13.10 10.28 1.64 1.91 2.05 29.55 4.86 7.27 1.75 1.43 0.68 6.31 3.23 72.34 2.63 6.72 8.68 17.75

3.19 54.40 2.87 20.99 13.10 11.00 1.70 1.95 2.07 29.70 4.95 7.48 1.94 1.88 0.74 6.35 3.37 72.15 2.74 6.84 8.70 18.00

2.75 52.60 2.51 20.00 12.10 10.30 1.63 1.95 1.90 28.40 4.73 7.00 1.70 1.51 0.50 6.00 3.15 69.80 2.59 6.57 7.70 16.75

Close 936.07 Listed cap 54,792.74 mn Payout (%) 19.04

% Change -0.95 5-Day High 1,048.95 5-Day Low 1,024.32

2010 Div BR (%) (%) 30 55 7.5

2011 Div BR (%) (%)

- 10.00 20B -

Change -19.97 Market cap 65,686.57 mn Div Yield (%) 2.77

Close Chg

Volume

Last 60 days High Low

2.90 53.46 2.51 20.80 12.21 10.39 1.65 1.95 1.99 28.98 4.79 7.02 1.71 1.71 0.51 6.17 3.20 70.11 2.62 6.83 8.00 17.90

91030 5970 281 1707 4418 7655 20050 500 100617 1637008 1054231 1120 28100 35660 52734 39353 1618483 1847550 290835 43078 848 12316

3.98 65.99 4.24 24.16 24.80 12.75 2.49 3.49 3.10 32.30 5.55 8.20 2.25 3.90 0.99 8.70 3.88 79.98 3.30 8.20 9.60 20.44

-0.10 -0.50 0.00 -0.02 -0.89 0.11 0.01 0.04 -0.06 -0.57 -0.07 -0.25 -0.04 0.28 -0.17 -0.14 -0.03 -2.23 -0.01 0.11 -0.68 0.15

2.75 52.60 1.10 15.25 12.10 10.25 1.50 1.50 1.44 26.60 4.72 6.00 1.60 1.18 0.25 6.00 2.90 69.80 2.59 6.52 6.30 16.75

% Change -2.09 5-Day High 975.49 5-Day Low 936.07

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

2011 Div BR (%) (%) -

Performance of SR General Industrials Index

Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films

Paid up Cap(mn)

Open

115 2.55 73.37 230 2.84 1067 4.83 53.26 389 3.33 47 16.31 30.90 844 66.11 133.03 300 10.45 139.17

High

High Low 1,052.11 1,006.78 Total cos Defaulter cos P/BV (x) ROE (%) 1.24 43.91 Low

Close Chg

73.94 71.60 71.61 2.82 2.50 2.56 53.10 52.50 52.50 3.40 3.00 3.35 30.88 29.36 29.36 134.75 126.38 128.92 144.00 137.50 143.29

-1.76 -0.28 -0.76 0.02 -1.54 -4.11 4.12

Close 1,027.70 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 9439 20508 2608 18244 23323 59883 111364

Change -13.15 Market cap 38,469.12 mn Div Yield (%) 5.50

Last 60 days High Low 83.23 3.30 56.45 4.05 32.45 143.00 144.00

Company

Paid up Cap(mn)

Pak Elektron Tariq Glass Ind

1219 231

Company Ados Pak AL-Ghazi Tractor

Paid up Cap(mn) 66 215

1.02 16.90 5.60 235.24

Dewan Auto Engineering 214 Ghandhara Ind 213 10.14 KSB Pumps 132 7.31 Millat Tractors XB Pak Engineering

Open

1.34 11.27 61.75

366 8.28 541.84 57 415.94 150.00

High

Low

Close Chg

46.02 1.82 45.30 2.40 16.90 103.52 102.51

16.00 15.90 15.90 -1.00 234.00 230.01 234.00 -1.24

% Change -1.26 5-Day High 1,060.56 5-Day Low 1,027.70

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

25B 10B -

2011 Div BR (%) (%) -

Change -12.23 Market cap 33,857.05 mn Div Yield (%) 15.75

High

PE 3.59 2.80

Open 14.25 22.33

High 14.49 23.44

Open 997.92 Turnover 20,446,208 P/E (x) 7.12 Company

Paid up Cap(mn)

(Colony) Thal Amtex Limited Artistic Denim Aruj Garments Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Blessed Tex Mills Chenab Limited Chenab Ltd Pref Colgate Palm Crescent Jute Crescent Textile D S Ind Ltd Dawood Lawrencepur Dewan Farooque Spin. Dewan Mushtaq Textile Din Textile Ellcot Spinning Fazal Textile Gadoon Textile XD Globe (O.E) Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Indus Dyeing Ishaq Textile Kohinoor Ind Kohinoor Spinning Kohinoor Textile Masood Textile Mehmood Textile Moonlite (PAK) Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Prosperity Quality Textile Ravi Textile Reliance Weaving Saif Textile Sally Textile Salman Noman Sargoda Spinning Service Ind Shadman Cot Shahpur Textile Shahtaj Textile Sunrays Textile Suraj Cotton Tata Textile Thal Limited Treet Corp Tri-Star Poly Zil Limited

Low

Close Chg

Close 1,829.43 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change -26.71 Market cap 276,326.06 mn Div Yield (%) 0.68

Last 60 days High Low

280 20.50 13.00 1814 54.00 42.90 2001 15.47 9.00 250 78.40 46.15 19516 5.70 2.60 956 7.15 5.00 69846 5.59 1.50 111 21.73 17.25 71035 36.50 21.35 17701 13.00 11.50 1303 81.12 68.60 7355 92.50 68.00 2300 6.14 2.50 1699 68.49 52.60 1749 68.22 46.08 1311 7.18 4.01 104 89.90 64.42 503 75.50 41.12 1291 3534.39 1830.00 678 27.30 17.51 2013 14.84 9.00 10303 6.99 3.78 591 53.81 34.29 65500 3.50 2.02 2000 3.90 2.11 712 15.01 11.35 123 7.88 4.06 3501 42.52 29.03 352 4818.00 3901.00 501 8.95 5.50

High Low 1,122.92 1,103.87 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 10.64 Low 14.16 23.01

Close Chg 14.25 0.00 23.44 1.11

Close 1,112.28 Listed cap 3,763.71 mn Payout (%) 6.27

Volume 137341 602907

56 2594 840 62 133 4493 33 76 76 64 1150 800 316 238 492 600 514 600 34 204 110 62 234 47 716 3105 99 180 181 97 303 1300 1455 600 150 22 145 1614 3516 560 174 185 160 250 308 264 88 42 312 120 176 140 97 69 180 173 307 418 215 53

High Low 1,004.56 981.23 Total cos Defaulter cos P/BV (x) ROE (%) 0.62 8.64

Open

High

Low

Close Chg

9.02 6.11 2.87 0.37 0.45 0.50 5.22 0.90 29.90 3.37 43.49 3.20 0.17 0.60 0.61 3.51 0.79 5.48 0.70 4.10 0.85 3.91 2.29 1.42 0.31 3.61 2.05 0.76 1.96 5.51 4.45 0.80 1.07 0.73 0.65 0.45 0.22 1.90 0.71 7.55 2.60 0.29 0.73 0.88 0.37 5.14 9.18 3.66

1.40 4.05 22.22 5.00 2.70 11.28 11.19 14.50 625.58 57.51 2.99 2.98 975.43 1.00 18.11 1.65 38.90 4.39 5.08 27.00 21.00 433.86 70.03 12.50 3.88 52.66 9.60 3.50 239.95 7.52 1.54 1.20 5.01 19.49 65.00 12.00 0.39 24.14 66.24 12.99 10.10 13.80 13.10 1.36 8.90 5.60 4.35 4.80 3.51 228.18 13.50 0.27 19.40 33.80 39.00 36.81 123.09 59.00 0.54 55.00

1.30 4.12 22.80 4.26 2.65 11.57 11.00 14.96 633.99 59.98 3.06 2.45 940.10 1.22 18.00 1.85 39.75 3.97 5.50 28.20 20.25 454.50 72.89 12.00 4.00 55.00 9.99 3.60 239.00 7.99 1.60 0.87 5.19 19.48 61.75 12.50 0.72 24.39 66.90 13.35 10.98 14.00 12.25 1.44 9.50 5.75 4.43 4.49 3.89 229.94 14.50 0.48 19.94 35.49 39.99 38.40 124.99 59.50 0.60 57.40

1.05 3.95 22.01 4.25 2.64 10.72 11.00 14.10 610.00 59.98 2.85 2.45 940.05 0.80 17.11 1.58 36.96 3.50 5.40 27.50 20.00 412.17 69.00 12.00 3.70 51.00 8.60 3.45 227.96 7.50 1.40 0.86 4.81 18.49 61.75 11.00 0.30 23.10 62.93 12.60 9.25 13.80 12.25 1.30 9.25 5.50 4.40 4.00 3.00 220.00 13.50 0.21 19.00 35.49 37.50 36.80 118.00 56.90 0.43 53.25

1.28 -0.12 3.97 -0.08 22.01 -0.21 4.25 -0.75 2.64 -0.06 10.96 -0.32 11.00 -0.19 14.12 -0.38 630.00 4.42 59.98 2.47 2.95 -0.04 2.45 -0.53 940.08-35.35 1.00 0.00 17.50 -0.61 1.66 0.01 36.97 -1.93 3.97 -0.42 5.40 0.32 27.85 0.85 20.00 -1.00 440.13 6.27 72.00 1.97 12.00 -0.50 3.71 -0.17 52.12 -0.54 9.99 0.39 3.60 0.10 235.71 -4.24 7.91 0.39 1.42 -0.12 0.86 -0.34 5.05 0.04 19.48 -0.01 61.75 -3.25 12.49 0.49 0.34 -0.05 23.57 -0.57 64.24 -2.00 13.17 0.18 10.98 0.88 14.00 0.20 12.25 -0.85 1.42 0.06 9.25 0.35 5.60 0.00 4.40 0.05 4.49 -0.31 3.65 0.14 220.40 -7.78 14.25 0.75 0.21 -0.06 19.30 -0.10 35.49 1.69 39.36 0.36 38.40 1.59 120.22 -2.87 57.63 -1.37 0.54 0.00 54.71 -0.29

Last 60 days High Low

Open 923.38 Turnover 20,845 P/E (x) 7.17

% Change -0.78 5-Day High 1,585.78 5-Day Low 1,563.06

2010 Div BR (%) (%)

2011 Div BR (%) (%)

18.20 244.95

14.12 202.60

150

1.21 -0.13 10.95 -0.32 61.00 -0.75

22155 21612 434

2.40 13.50 73.84

0.21 10.55 58.55

543.00 531.00 537.47 -4.37 155.01 143.51 149.74 -0.26

39690 203

568.40 310.00

475.25 142.50

650 100

25B325.00 -

1.21 10.91 61.00

2010 Div BR (%) (%)

% Change -1.44 5-Day High 1,856.14 5-Day Low 1,809.00 2011 Div BR (%) (%)

25 50 10 15 25 25 25B 40 17.5 110R 7010B 12.5R 35 20B 7.50 15 20B 10 40 12 450 12 10 10 15 178 -

Change 3.21 Market cap 5,257.66 mn Div Yield (%) 2.59

Last 60 days High Low 15.88 23.44

12.90 15.90

2010 Div BR (%) (%) 17.5

10B -

% Change 0.29 5-Day High 1,112.28 5-Day Low 1,087.88 2011 Div BR (%) (%) -

Close 989.12 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change -8.79 Market cap 137,809.57 mn Div Yield (%) 2.34

Last 60 days High Low

4121 1.65 512672 5.48 1100 24.59 400 5.50 3000 3.00 7748527 12.84 1101 16.50 4211 15.10 427 747.48 201 63.20 8850 3.90 500 3.00 1129 1020.00 12096 1.38 2503 23.99 149646 2.10 9367 47.00 8834 8.00 1301 8.90 64676 28.20 1465 21.78 886 490.05 209 73.09 1000 13.75 598664 4.47 43249 55.00 1505 9.99 4001 3.90 147 350.15 1058 8.70 9308 2.00 603 1.81 6122 5.97 1064 20.74 170 70.30 5595 14.20 3002 0.95 3505817 25.14 7158613 71.89 125175 13.35 12609 11.10 366 15.50 500 13.50 21147 1.98 193124 10.48 5230 6.85 1011 4.99 1011 6.35 540 4.25 2642 276.50 2453 15.25 3800 0.89 49982 20.29 510 39.84 524 41.95 537 39.00 70338 132.00 67184 63.30 1504 1.50 8652 59.25

2010 Div BR (%) (%)

0.56 3.95 30 19.10 20 4.10 1.32 7.5 9.20 8.10 - 15B 12.30 20 555.01 45.60 50 2.85 1.21 791.05 0.32 17.11 15 1.58 36.10 5 3.10 2.90 24.02 20 10B 18.51 35 371.02 100 44.05 70 12.00 10 3.31 10 36.00 20 3.00 2.70 10 188.01 50 4.99 8 1.10 0.16 5 4.81 18.00 15 100R 51.46 60 4.50 0.14 20.38 15 50.25 25 45R 6.00 8.00 10 10B 13.00 30 8.51 15 1.26 8.50 25SD 3.90 3.57 10 2.01 5B 1.51 5 169.00 7.00 0.20 16.35 45 32.04 30 31.10 50 22.00 25 91.25 80 20B 47.65 0.43 42.30 35 -

% Change -0.88 5-Day High 1,006.23 5-Day Low 989.12 2011 Div BR (%) (%) -

Performance of SR Pharma and Bio Tech Index

1010 4835

1.24 11.48 61.99

20B 20B -

PHARMA AND BIO TECH

Close 1,563.06 Listed cap 1,336.62 mn Payout (%) 131.49

Volume

90 100 60 20 150 10 -

Performance of SR Personal Goods Index

INDUSTRIAL ENGINEERING High Low 1,580.00 1,543.08 Total cos Defaulter cos P/BV (x) ROE (%) 3.17 38.02

65.75 152.70 15.00 96.00 1.20 145.00 21.00 4.42 4.01 10.66 231.00 64.50 17.92 1.31

PERSONAL GOODS

Performance of SR Industrial Engineering Index Open 1,575.30 Turnover 89,940 P/E (x) 8.35

Open

Open 1,109.06 Turnover 740,261 P/E (x) 2.42

GENERAL INDUSTRIALS Open 1,040.85 Turnover 245,443 P/E (x) 2.83

82.63 205.00 39.86 143.80 2.89 217.44 26.74 5.67 5.75 13.40 309.73 77.90 23.50 2.70

Total Assets (Rs in mn)

3,356.84

3.89

Total Equity (Rs in mn)

1,312.24

Revenue (Rs in mn)

3,116.91

MA (100-day)

4.05

MA (200-day)

3.93

Interest Expense

263.53

1st Support

3.60

Profit after Taxation

248.83

2nd Support

3.50

EPS 10 (Rs)

3.478

1st Resistance

3.90

Book value / share (Rs)

18.34

2nd Resistance

4.10

PE 11 E (x)

0.70

Pivot

3.80

PBV (x)

0.20

HIRAT closed down -0.17 at 3.71. Volume was 303 per cent above average (trending) and Bollinger Bands were 56 per cent narrower than normal. The company's profit after taxation stood at Rs94.915 million which translates into an Earning Per Share of Rs1.33 for the 1st quarter of current fiscal year (1QFY11). HIRAT is currently 5.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of HIRAT (mildly bearish). Trend forecasting oscillators are currently bearish on HIRAT.

Sui Southern Gas Company Ltd

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

54.97

Total Assets (Rs in mn)

MA (10-day)

22.46

Total Equity (Rs in mn)

MA (100-day)

23.68

Revenue (Rs in mn)

110,759.62 14,072.35 107,736.78

MA (200-day)

20.94

Interest Expense

5,015.89

1st Support

21.72

Profit after Taxation

4,399.15

2nd Support

20.78

EPS 10 (Rs)

6.554

1st Resistance

23.29

Book value / share (Rs)

20.97

2nd Resistance

23.92

PE 11 E (x)

3.40

Pivot

22.35

PBV (x)

1.08

SSGC closed up 0.70 at 22.59. Volume was 46 per cent above average and Bollinger Bands were 72 per cent narrower than normal. The company's profit after taxation stood at Rs1.113 billion which translates into an Earning Per Share of Rs1.66 for the 1st quarter of current fiscal year (1QFY11). SSGC is currently 7.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SSGC (mildly bullish). Trend forecasting oscillators are currently bullish on SSGC.

NIB Bank Limited

HOUSEHOLD GOODS

Performance of SR Construction and Materials Index High Low 964.10 923.95 Total cos Defaulter cos P/BV (x) ROE (%) 0.49 7.10

1044 1744 33536 2601 71935 321 7801 11191 3437 11128 47292 31348 2587 500

High Low 1,879.42 1,795.23 Total cos Defaulter cos P/BV (x) ROE (%) 13.72 30.30

4.46 15.99 15.00 15.00 15.00 -0.99 1.17 48.73 47.01 46.60 46.62 -2.11 3.71 9.75 9.50 9.00 9.50 -0.25 - 63.01 63.10 59.87 60.12 -2.89 7.45 3.14 3.74 2.81 2.98 -0.16 0.61 6.10 6.01 6.00 6.01 -0.09 3.23 3.50 3.00 3.04 -0.19 1.48 17.90 18.25 17.40 18.25 0.35 8.69 22.01 22.00 21.35 21.89 -0.12 11.16 12.42 12.10 12.05 12.05 -0.37 34.31 75.99 79.00 72.20 76.86 0.87 1.27 71.58 72.00 70.10 71.63 0.05 4.00 3.80 3.80 3.80 -0.20 1.85 57.90 56.63 56.51 56.62 -1.28 2.88 48.50 50.00 46.08 46.08 -2.42 4.78 4.50 4.01 4.47 -0.31 9.39 82.60 83.50 80.00 80.00 -2.60 20.58 56.85 59.69 55.00 55.15 -1.70 38.34 3404.64 3534.39 3314.00 3490.06 85.42 3.23 23.75 23.89 22.58 22.60 -1.15 1.10 10.39 10.75 10.11 10.27 -0.12 4.50 4.40 3.78 4.08 -0.42 - 40.85 38.81 38.81 38.81 -2.04 7.59 3.20 3.40 3.25 3.34 0.14 2.70 2.54 2.54 2.54 -0.16 2.21 12.34 12.00 11.67 12.00 -0.34 0.40 5.85 5.94 4.92 5.58 -0.27 362.73 40.53 40.10 39.00 39.90 -0.63 20.41 4530.24 4549.99 4355.01 4372.13 -158.11 7.30 7.98 7.95 7.98 0.68

CONSTRUCTION AND MATERIALS Open 956.04 Turnover 6,893,550 P/E (x) 6.86

-1.78 0.37 1.87 0.65 -0.02 -4.30 -0.54 -0.04 -0.43 -0.40 -2.44 -1.05 -0.28 -0.06

2011 Div BR (%) (%)

38.08

MA (10-day)

Performance of SR Household Goods Index

Last 60 days High Low

Volume

72.26 198.50 39.42 134.73 1.98 199.00 23.25 4.66 4.30 10.87 290.00 64.64 22.44 1.89

2010 Div BR (%) (%)

% Change -1.13 5-Day High 1,298.38 5-Day Low 1,270.95

RSI (14-day)

FOOD PRODUCERS

Performance of SR Industrial Metals and Mining Index High Low 1,047.71 1,013.76 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 33.10

Fundamental Highlights As on Jun 30, 2010

Technical Analysis

Performance of SR Food Producers Index

INDUSTRIAL METALS AND MINING Open 1,040.56 Turnover 170,554 P/E (x) 3.46

Performance of SR Automobile and Parts Index

Performance of SR Chemicals Index Open 1,591.17 Turnover 39,073,062 P/E (x) 9.53

2011 Div BR (%) (%)

AUTOMOBILE AND PARTS Open 1,285.43 Turnover 226,466 P/E (x) 4.68

Hira Textile Mills Limited

% Change -0.92 5-Day High 739.06 5-Day Low 726.61

2010 Div BR (%) (%) 40 15

Alert ! Unusual Movements

Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak

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

Open

8.43 96.28 6.65 88.00 14.01 79.15 7.69 28.01 7.45 9.45 7.37 34.00 12.41 155.54 5.44 61.41

High

High Low 933.15 909.58 Total cos Defaulter cos P/BV (x) ROE (%) 1.60 22.31 Low

Close Chg

96.40 94.49 96.21 -0.07 89.00 88.00 88.10 0.10 81.00 77.75 77.87 -1.28 27.75 27.06 27.75 -0.26 9.65 8.50 9.24 -0.21 33.00 32.60 33.00 -1.00 157.80 153.05 156.00 0.46 62.25 60.40 60.49 -0.92

Close 913.62 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 17251 237 3059 2564 3616 1850 415 9038

Change -9.75 Market cap 30,663.90 mn Div Yield (%) 6.21

Last 60 days High Low 112.50 94.90 89.98 30.48 9.88 35.70 164.99 69.00

94.00 82.20 69.52 23.50 7.16 30.50 116.00 59.00

2010 Div BR (%) (%) 20 30

20B -

% Change -1.06 5-Day High 937.10 5-Day Low 913.62 2011 Div BR (%) (%) 15 -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

37.56

Total Assets (Rs in mn)

208,118.96

MA (10-day)

2.89

Total Equity (Rs in mn)

41,643.27

MA (100-day)

2.85

Revenue (Rs in mn)

18,272.36

MA (200-day)

3.13

Interest Expense

12,872.36

1st Support

2.66

Profit after Taxation

2nd Support

2.56

EPS 09 (Rs)

0.171

1st Resistance

2.85

Book value / share (Rs)

10.30

2nd Resistance

2.94

PE 10 E (x)

Pivot

2.75

PBV (x)

691.05

0.27

NIB closed down -0.02 at 2.74. Volume was 7 per cent above average and Bollinger Bands were 2 per cent wider than normal. The company's loss after taxation stood at Rs3.559 billion which translates into a Loss Per Share of Rs0.88 for the nine months of current calendar year (9MCY10). NIB is currently 12.5 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 moderate flows of volume into NIB (mildly bullish). Trend forecasting oscillators are currently bearish on NIB.

Telecard Limited

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

38.30

Total Assets (Rs in mn)

9,610.12

MA (10-day)

2.17

Total Equity (Rs in mn)

3,400.99

MA (100-day)

2.26

Revenue (Rs in mn)

2,414.18

MA (200-day)

2.58

Interest Expense

530.45

1st Support

2.01

Profit after Taxation

698.46

2nd Support

1.93

EPS 10 (Rs)

2.328

1st Resistance

2.18

Book value / share (Rs)

11.34

2nd Resistance

2.27

PE 11 E (x)

0.63

Pivot

2.10

PBV (x)

0.19

TELE closed down -0.01 at 2.10. Volume was 40 per cent below average and Bollinger Bands were 36 per cent narrower than normal. The company's profit after taxation stood at Rs251.746 million which translates into an Earning Per Share of Rs0.84 for the 1st quarter of current fiscal year (1QFY11). TELE is currently 18.4 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of TELE at a relatively equal pace. Trend forecasting oscillators are currently bearish on TELE.

BOOK CLOSURES Company

From

Mubarak Tex Mills # Husein Industries First Cap Mutual Fund # Shaheen Insurance Redeo Textiles # United Distributors # (TFC) Saudi Pak Leasing (FTC) Allied Bank Int Ind (Consolidated) Millat Tractors Ideal Energy # Olympia Spng. Weaving Mills # Shadman Cotton Mills Mehran Sugar Mills Int Industries # Fauji Fertilizer Attock Petroleum Pakistan Petroleum Pakistan Petroleum (Pref) Colgate - Palmolive #

05-Feb 06-Feb 07-Feb 07-Feb 07-Feb 08-Feb 10-Feb 14-Feb 16-Feb 18-Feb 18-Feb 18-Feb 19-Feb 21-Feb 23-Feb 24-Feb 03-Mar 03-Mar 04-Mar

12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 27-Feb 24-Feb 24-Feb 26-Feb 26-Feb 26-Feb 28-Feb 01-Mar 04-Mar 09-Mar 09-Mar 10-Mar

D/B/R 25 (R) 15 (I) 325 (I) 5 7.5(I) 115 (I) 50 (I) 30 (I) -

Spot AGM/Date -

09-Feb 10-Feb 14-Feb 15-Feb 14-Feb 26-Feb 26-Feb 26-Feb 24-Feb 01-Mar 10-Mar

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols Johnson & Philips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals Eye Television Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone

Open 12.5 54 3.2 93.1 175.98 113.98 31.01 20.24 17.71 2.45 44.51 3.01 25.82 2.35

High 13 54 3.29 94 184.77 113.68 32.5 19.98 16.71 2.46 44 3.05 26.18 2.44

Low Close 12 54 3.05 90 173.55 110 31.02 19.43 16.71 2.35 43.17 2.79 24.78 1.73

12.64 54 3.1 92.15 181.7 113.68 31.14 19.97 16.71 2.4 43.97 2.83 24.97 2.39

Change 0.14 0 -0.1 -0.95 5.72 -0.3 0.13 -0.27 -1 -0.05 -0.54 -0.18 -0.85 0.04

Vol 15461 1050 653876 121005 31910 410 1670 2121 260 64102 650 772940 846646 3002

Wednesday, February 2, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,099.34 Turnover 9,315,653 P/E (x) 5.91 Paid up Cap(mn)

Company

Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

High Low 1,124.76 1,089.13 Total cos Defaulter cos P/BV (x) ROE (%) 0.76 12.84

Open

High

Low

Close Chg

37740 12.46 3000 0.63 8606 6175 -

18.59 2.11 2.72 3.73

19.00 2.19 2.82 3.88

18.46 2.02 2.65 3.54

18.69 2.10 2.67 3.60

Close 1,103.03 Listed cap 50,077.79 mn Payout (%) 62.56

Volume

0.10 -0.01 -0.05 -0.13

7894891 348844 1071918 433643

Change 3.69 Market cap 76,299.53 mn Div Yield (%) 10.58

% Change 0.34 5-Day High 1,133.14 5-Day Low 1,099.34

Last 60 days High Low

2010 Div BR (%) (%)

20.65 2.67 3.45 4.65

17.5 1 -

18.19 2.02 2.40 3.35

2011 Div BR (%) (%)

Ask Gen Insurance

204

6.07

10.41

10.50

10.01

10.02 -0.39

15500

12.75

10.00

25R

Atlas Insurance Central Insurance XB

369 279

5.90 7.95

36.85 70.71

37.39 70.01

36.85 69.80

37.10 0.25 69.99 -0.72

1500 4264

40.00 83.00

33.00 53.00

10B

1250 400

3.17

40.00 13.80

40.44 13.70

38.60 13.06

39.50 -0.50 13.30 -0.50

16946 8951

47.90 15.50

38.60 11.01

718 16.70 791 15.57

90.50 59.40

91.50 58.98

90.00 57.00

90.00 -0.50 57.77 -1.63

501 800

99.88 61.80

81.10 53.38

10 -

20B -

Pak Reinsurance 3000 42.44 Pak Gen Insurance 250 1.87 PICIC Ins Ltd 350 Premier Insurance 303 5.95 Shaheen InsuranceSPOT 200 -

17.49 8.74 8.99 11.25 11.10

17.88 8.11 8.79 11.85 11.05

16.49 7.92 8.02 10.78 10.45

16.55 7.92 8.79 11.01 11.05

729336 1000 1067 3001 671

19.40 9.95 10.75 12.93 14.53

14.25 5.81 2.70 9.00 10.45

25R

2.96

2.80

4.00

2.21

EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance

Universal Insurance

263

Company

Altern Energy Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric

High Low 1,346.29 1,279.72 Total cos Defaulter cos P/BV (x) ROE (%) 1.34 9.35

Open

High

Low

3426 23.30 198 11572 6.95 1560 7932 1695 10.18 126 2.67 8803 5.16 3673 3.56 3541 27.45 191 3.27 1367 -

10.50 0.76 38.79 1.62 2.61 19.10 4.57 42.90 16.72 17.54 17.67 2.17

11.00 0.84 39.10 1.71 2.76 18.90 4.65 43.44 16.97 17.69 17.51 2.29

10.25 0.75 37.10 1.60 2.56 18.32 4.00 42.30 15.72 16.71 17.51 2.11

Close 1,306.81 Listed cap 95,369.29 mn Payout (%) 104.13

Change -23.02 Market cap 107,175.81 mn Div Yield (%) 7.27

Close Chg

Volume

Last 60 days High Low

10.25 0.75 37.95 1.61 2.73 18.32 4.38 42.44 16.25 17.02 17.51 2.15

494 19300 4951237 156735 964025 631 7502 505276 2869425 2214333 500 188913

11.45 1.18 41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.35 2.80

-0.25 -0.01 -0.84 -0.01 0.12 -0.78 -0.19 -0.46 -0.47 -0.52 -0.16 -0.02

5000

Performance of SR Life Insurance Index

ELECTRICITY

Paid up Cap(mn)

2.80 -0.16

% Change -1.73 5-Day High 1,354.29 5-Day Low 1,306.81

2010 Div BR (%) (%)

9.00 0.73 33.26 1.50 2.07 17.95 3.85 39.00 13.01 14.23 17.51 2.09

50 15 50 20 -

2011 Div BR (%) (%)

7.8R -

GAS WATER AND MULTIUTILITIES

Open 815.09 Turnover 9,803 P/E (x) 5.60 Paid up Cap(mn)

High Low 814.90 792.33 Total cos Defaulter cos P/BV (x) ROE (%) 3.12 3.85

Close 792.52 Listed cap 2,290.72 mn Payout (%) 355.53

Change -22.57 Market cap 9,306.04 mn Div Yield (%) 4.39

Paid up Cap(mn)

Company Sui North Gas Sui South Gas

5491 8390

7.88 3.40

Open

High Low 1,582.71 1,508.49 Total cos Defaulter cos P/BV (x) ROE (%) 1.10 11.41

Open

High

Low

Close Chg

Volume

Last 60 days High Low

EFU Life Assurance

850 37.31

67.80

68.00

65.66

65.66 -2.14

5874

86.95

62.75

New Jub Life Insurance

627 29.56

45.23

44.85

44.00

44.04 -1.19

3929

49.31

40.00

High

26.63 21.89

26.90 22.98

Low 26.12 21.41

Close Chg

Volume

26.46 -0.17 22.59 0.70

143472 862609

Change 16.49 Market cap 33,481.61 mn Div Yield (%) 6.91

Last 60 days High Low 34.75 25.01

% Change 1.07 5-Day High 1,609.41 5-Day Low 1,539.88

2010 Div BR (%) (%)

25.71 19.95

20 15

2011 Div BR (%) (%)

25B

BANKS Performance of SR Banks Index Open 1,178.26 Turnover 13,410,880 P/E (x) 8.27 Paid up Cap(mn)

Company

Open

Allied Bank Limited 7821 6.77 71.45 Askari Bank 6427 8.19 18.09 Bank Alfalah 13492 14.55 11.47 Bank AL-Habib 7322 7.93 37.05 Bank Of Khyber 5004 5.40 4.06 Bank Of Punjab 5288 8.78 BankIslami Pak 5280 987.50 3.92 Faysal Bank 7327 4.56 14.97 Habib Bank Ltd 10019 7.64 123.04 Habib Metropolitan Bank 8732 8.09 26.55 JS Bank Ltd 8150 2.32 KASB Bank Ltd 9509 1.71 MCB Bank Ltd 7602 9.91 226.78 Meezan Bank 6983 9.96 18.64 Mybank Ltd 5304 2.80 National Bank 13455 6.66 76.97 NIB Bank 40437 2.76 Samba Bank 14335 1.80 Silkbank Ltd 26716 2.58 Soneri Bank 6023 7.07 Stand Chart Bank 38716 11.54 7.80 Summit Bank Ltd XR 7251 3.68 United Bank Ltd 12242 7.66 67.35

High

High Low Close 1,190.30 1,147.17 1,159.70 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.15 13.94 40.49 Low

Close Chg

Volume

71.00 69.00 69.70 -1.75 18.24 17.09 17.19 -0.90 11.59 11.11 11.35 -0.12 37.15 36.50 36.78 -0.27 4.07 3.95 4.05 -0.01 8.90 8.41 8.49 -0.29 4.07 3.80 3.95 0.03 15.23 13.97 14.14 -0.83 124.25 121.50 122.33 -0.71 26.84 25.85 26.44 -0.11 2.36 2.30 2.32 0.00 1.74 1.63 1.70 -0.01 229.15 221.50 223.51 -3.27 18.90 18.40 18.82 0.18 2.80 2.50 2.65 -0.15 77.55 75.47 76.30 -0.67 2.84 2.65 2.74 -0.02 1.96 1.76 1.90 0.10 2.64 2.51 2.55 -0.03 7.38 6.90 6.93 -0.14 7.95 7.40 7.50 -0.30 3.78 3.42 3.48 -0.20 67.95 64.80 65.21 -2.14

Change -18.56 Market cap 699,462.41 mn Div Yield (%) 4.90

Last 60 days High Low

450198 74.00 1732681 19.25 1276388 11.99 58793 39.49 6759 4.70 1471009 10.59 73044 4.50 578008 17.10 156405 128.97 12384 29.28 28304 3.00 212601 2.80 1263326 250.48 25623 20.30 71622 3.40 2103638 80.61 1698549 3.35 40056 2.17 798552 3.05 97000 8.48 13450 9.04 129288 4.63 1242490 70.65

% Change -1.58 5-Day High 1,202.81 5-Day Low 1,159.70

2010 Div BR (%) (%)

54.96 15.12 9.16 31.50 3.60 8.41 3.00 13.97 101.00 19.70 2.30 1.49 199.00 14.50 1.90 64.13 2.60 1.51 2.50 6.90 6.33 2.70 55.37

2011 Div BR (%) (%)

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

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 790.99 Turnover 1,521,023 P/E (x) 12.77 Paid up Cap(mn)

Company Adamjee Insurance

Open

1237 26.14

92.85

High 93.48

High Low 797.96 763.36 Total cos Defaulter cos P/BV (x) ROE (%) 0.66 5.20 Low 89.20

Close Chg 90.19 -2.66

Close 771.83 Listed cap 11,111.34 mn Payout (%) 79.54

Volume 732481

Change -19.15 Market cap 47,590.66 mn Div Yield (%) 6.23

Last 60 days High Low 96.40

% Change -2.42 5-Day High 813.22 5-Day Low 771.83

2010 Div BR (%) (%)

68.00

2011 Div BR (%) (%)

2010 Div BR (%) (%)

2011 Div BR (%) (%) -

FINANCIAL SERVICES Performance of SR Financial Services Index Open 406.09 Turnover 4,027,709 P/E (x) 11.72

High Low 415.02 386.09 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 0.91

Close 395.59 Listed cap 30,336.44 mn Payout (%) 99.56

Change -10.50 Market cap 18,384.36 mn Div Yield (%) 3.45

AMZ Ventures

225

1.68

0.63

0.80

0.60

0.74 0.11

11178

0.95

0.33

Arif Habib Investments

360

3.75

19.75

20.49

18.75

19.07 -0.68

182696

22.40

16.00

20B

450 12.87

Open

High

Low

Close Chg

Last 60 days High Low

% Change -2.59 5-Day High 417.13 5-Day Low 395.59

Paid up Cap(mn)

Company

Close 1,556.38 Listed cap 12,202.80 mn Payout (%) 66.79

% Change -2.77 5-Day High 817.31 5-Day Low 792.52

Company

Volume

Performance of SR Gas Water and Multiutilities Index Open 1,539.88 Turnover 1,006,081 P/E (x) 9.67

SIEM WYETH STML GATI MUBT BRR LAKST SMTM AGSML GLPL BROT GATM MSCL RMPL SPLC ZTL NPSM RUPL SJTM TOWL SHSML SSML THAS UBDL YOUW ZAHT HUSS KSTM AABS FCONM PAKMI BUXL DSML GVGL ASIC CML DKTM FNEL GRYL ICL KML MUCL BAWS BWHL CENI CSIL CWSM DIIL EMCO ESBL FECS FIBLM HAJT HINO HUSI ICIBL KASBM KOHTM MQTM MTIL NSRM PSEL SALT SGPL SHCI SHJS SIBL SSIC TSMF

LIFE INSURANCE

Performance of SR Electricity Index Open 1,329.83 Turnover 11,878,372 P/E (x) 14.31

-0.94 -0.82 -0.20 -0.24 -0.05

UP TO 100 VOLUME Symbols

Arif Habib Limited

2010 Div BR (%) (%)

2011 Div BR (%) (%)

25.77

26.00

25.00

25.23 -0.54

92834

28.00

24.40

20B

3750

4.60

26.14

26.40

24.84

25.05 -1.09

6282116

30.20

22.85

Dawood Cap Mangt. XB 150

1.29

1.25

1.44

1.30

1.44 0.19

7987

2.14

1.15

Arif Habib Corp Dawood Equities

250

IGI Investment Bank Invest and Fin Sec

1.91

2.03

1.80

1.90 -0.01

25252

2.75

1.28

2121 15.75

2.37

2.73

2.41

2.52 0.15

1115

3.90

2.10

600 770.00

7.62

7.98

7.25

7.70 0.08

55154

8.98

6.16

11.5

Ist Cap Securities

3166

3.19

3.47

3.11

3.15 -0.04

13489

3.99

2.95

10B

Ist Dawood Bank

626

0.57

1.65

1.75

1.60

1.60 -0.05

53786

2.14

1.05

Jah Siddiq Co

7633

11.38

11.50

10.61

10.92 -0.46

3037354

14.05

9.68

JOV and CO

508

3.85

3.96

3.64

3.77 -0.08

147191

5.38

3.64

JS Global Cap

500

7.13

26.63

27.63

26.50

26.51 -0.12

3084

32.37

25.75

JS Investment

1000 27.04

6.72

6.84

6.40

6.49 -0.23

90343

7.59

5.90

KASB Securities

1000

4.52

4.60

3.95

4.10 -0.42

256129

5.43

3.86

Orix Leasing

821

4.71

6.36

6.40

6.20

6.40 0.04

511

7.29

5.51

Pervez Ahmed Sec

775

1.90

1.96

1.85

1.90 0.00

21783

2.69

1.85

Open 1107.00 1028.00 23.00 49.00 1.00 1.68 263.16 5.94 5.51 60.00 0.45 28.50 14.10 2385.08 0.72 3.41 24.00 37.99 0.32 8.40 10.00 2.40 4.50 27.55 1.58 3.90 11.29 0.69 98.00 1.35 1.10 11.89 2.36 26.00 14.00 2.33 2.00 6.82 1.95 25.52 2.70 14.50 5.94 34.01 10.31 4.70 1.20 11.95 2.88 2.40 33.84 2.00 0.50 129.00 6.25 0.56 2.84 0.85 9.01 0.65 14.00 178.00 61.07 0.60 2.40 64.65 3.35 7.00 1.29

978

5.50

2.64

2.68

2.50

2.64 0.00

25005

3.00

2.26

100

3.53

3.95

3.25

3.38 -0.15

1700

4.00

1.42

Symbols

Trust Inv Bank

586

2.36

1.74

1.51

1.50

1.51 -0.23

1099

2.98

1.48

ENGRO-FEB 214.56

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index

Company

Paid up Cap(mn)

1st Fid Leasing AL-Meezan Mutual F. Atlas Fund of Funds Crescent St Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund Meezan Balanced Fund Mod Al-Mali PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Safeway Mutual Fund Stand Chart Modaraba U D L Modaraba

264 1375 525 200 524 581 760 397 1008 3180 1186 1200 184 1000 2835 2841 872 545 454 264

9.00 7.51 1.85 1.33 12.50 0.60 2.27 2.42 6.08 67.88 21.00 2.23 13.40 2.03 9.08 6.85 2.27 7.83 4.84 1.73

Open 1.50 9.07 4.59 0.58 1.88 2.09 3.24 7.50 7.00 5.67 5.76 7.91 1.73 6.86 14.38 6.30 1.00 8.83 9.50 6.20

High 1.95 9.05 4.59 0.69 2.25 2.25 3.25 7.25 7.05 5.70 5.93 7.79 1.64 7.25 14.50 6.21 1.01 7.90 9.89 6.28

Low

Close Chg

1.44 8.96 4.59 0.53 1.99 1.91 3.00 7.25 7.00 5.20 5.50 7.65 1.34 6.90 14.01 5.97 1.00 7.83 9.50 6.10

1.44 9.01 4.59 0.53 2.00 1.91 3.18 7.25 7.05 5.43 5.88 7.75 1.34 6.97 14.16 6.03 1.00 7.83 9.88 6.10

-0.06 -0.06 0.00 -0.05 0.12 -0.18 -0.06 -0.25 0.05 -0.24 0.12 -0.16 -0.39 0.11 -0.22 -0.27 0.00 -1.00 0.38 -0.10

Close 1,363.04 Listed cap 29,771.58 mn Payout (%) 104.74

Change -25.44 Market cap 18,496.30 mn Div Yield (%) 8.57

Last 60 days High Low

Volume 11303 198725 118830 43760 223770 15843 168065 2992 40269 236484 287398 128151 6503 55045 213080 80182 21843 95100 15681 19314

2.00 9.15 5.47 0.87 2.98 2.39 3.60 9.00 7.30 6.10 6.20 8.25 2.50 7.80 15.06 7.14 1.20 9.00 10.29 6.55

1.18 6.07 3.11 0.16 1.06 1.61 2.56 6.00 6.00 2.86 2.72 5.15 0.90 5.31 8.26 3.85 0.81 5.01 8.51 5.30

% Change -1.83 5-Day High 1,400.58 5-Day Low 1,363.04

2010 Div BR (%) (%) 18.5 2.2 1.2 17 11 21 5 10 15.5 10 20 10 3 18.2 17 12.5

Change

Vol

-2.01 -28.01 0.00 -0.35 0.10 -0.15 5.83 0.55 -0.01 -1.61 0.04 -1.38 -1.00 -35.08 -0.03 0.74 0.50 0.40 0.00 0.81 -0.21 0.05 0.90 1.37 -0.01 -0.15 -0.99 -0.09 2.93 0.25 -0.04 -0.36 0.29 0.00 0.00 0.17 0.00 0.00 -0.73 1.26 0.15 -1.00 -0.94 -1.02 0.18 0.30 0.05 -1.00 0.01 -0.01 -0.34 -0.40 0.17 0.00 -0.65 0.11 -0.83 0.82 -0.51 0.00 1.00 1.98 2.92 0.70 0.00 -3.23 -0.10 0.00 0.00

74 66 38 37 20 15 15 14 13 13 12 12 12 12 12 12 11 11 11 11 10 10 10 10 10 10 8 6 5 5 5 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Low

219.00

214.15

216.07

11.38

11.60

10.80

11.08

POL-FEB

326.60

330.00

323.30

327.47

0.87

815000

NML-FEB

66.59

67.25

63.31

64.56

-2.03

780000

77.54

High

78.00

76.00

Change

Vol

1.51 1054500 -0.30

856500

76.96

-0.58

671500

41.29

41.50

40.40

40.90

-0.39

654000

FFC-FEB

152.99

153.60

145.62

148.10

-4.89

448000

MCB-FEB

228.67

230.00

223.50

225.38

-3.29

430500

PSO-FEB

301.11

300.90

287.50

292.39

-8.72

398000 192000

29.78

29.70

28.65

29.13

-0.65

210.57

213.50

209.00

212.59

2.02

119000

LUCK-FEB

73.07

72.00

70.05

70.57

-2.50

107500

AICL-FEB

93.38

94.00

90.30

90.91

-2.47

96500 86000

PPL-FEB

UBL-FEB

Open

FFBL-FEB

DGKC-FEB

2011 Div BR (%) (%)

Close 1104.99 999.99 23.00 48.65 1.10 1.53 268.99 6.49 5.50 58.39 0.49 27.12 13.10 2350.00 0.69 4.15 24.50 38.39 0.32 9.21 9.79 2.45 5.40 28.92 1.57 3.75 10.30 0.60 100.93 1.60 1.06 11.53 2.65 26.00 14.00 2.50 2.00 6.82 1.22 26.78 2.85 13.50 5.00 32.99 10.49 5.00 1.25 10.95 2.89 2.39 33.50 1.60 0.67 129.00 5.60 0.67 2.01 1.67 8.50 0.65 15.00 179.98 63.99 1.30 2.40 61.42 3.25 7.00 1.29

ANL-FEB

NBP-FEB

High Low 1,393.57 1,342.18 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 2.21

Low 1075.00 977.76 23.00 48.65 1.10 1.51 268.99 5.91 4.60 58.39 0.49 27.11 13.10 2320.00 0.67 3.45 24.50 38.39 0.32 9.00 9.79 2.45 5.40 28.92 1.57 3.75 10.30 0.25 93.10 1.60 1.06 10.89 2.50 25.00 14.00 2.44 1.65 6.82 1.22 24.60 2.85 13.50 5.00 32.99 10.49 5.00 1.25 10.95 2.89 2.39 33.50 1.60 0.67 129.00 5.25 0.67 2.01 1.67 8.50 0.65 15.00 179.98 63.99 1.30 2.40 61.42 3.25 7.00 1.29

FUTURE CONTRACTS

Stand Chart Leasing Trust Brokerage

Open 1,388.48 Turnover 1,982,366 P/E (x) 19.00

High 1115.00 999.99 23.00 49.99 1.10 1.75 269.00 6.60 6.30 62.50 0.50 27.12 13.10 2419.99 0.69 4.39 24.50 38.39 1.00 9.39 10.25 2.45 5.50 28.92 1.58 4.50 10.30 0.60 102.89 1.99 1.49 11.85 3.29 27.00 14.00 2.50 2.00 6.82 1.22 26.78 3.59 13.50 5.00 32.99 10.93 5.70 1.30 10.95 2.89 2.45 33.50 1.60 0.68 129.00 5.60 0.68 2.01 1.67 8.50 0.68 15.00 179.98 63.99 1.50 2.40 61.42 3.35 7.00 1.29

67.73

67.85

65.50

65.58

-2.15

172.40

172.00

169.00

171.24

-1.16

48500

PTC-FEB

19.08

19.09

18.62

18.63

-0.45

38500

HUBC-FEB

39.17

39.27

NETSOL-FEB 26.06

OGDC-FEB

37.28

38.29

-0.88

37500

26.45

24.78

25.18

-0.88

34000

BOP-FEB

8.91

8.75

8.58

-0.33

28500

NCL-FEB

24.30

24.10

23.45

23.50

-0.80

17500

ZERO VOLUME Symbols

Open

High

Low

BELA

2.25

1.25

-1.00

CPAL

2.30

2.00

-0.30

0.00

FPJM

1.49

1.47

-0.02

0.00

GLOT

11.00

10.00

-1.00

0.00

GSPM

7.40

7.14

-0.26

0.00

GWLC

6.98

6.97

-0.01

0.00

HMIM

0.50

0.55

0.05

0.00

KCL

7.00

6.80

-0.20

0.00

LEUL

1.50

1.66

0.16

MLCFPS

Change

Vol 0.00

0.00

4.40

4.51

0.11

0.00

NAGC

16.34

16.29

-0.05

0.00

NATM

14.00

15.00

1.00

0.00

BOARD MEETINGS

Pakistan Telecommunication Co Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

51.38

Support 1

12,158.55

MA (5-day)

12,411.16

Support 2

12,043.70

MA (10-day)

12,430.35

Resistance 1

12,404.25

MA (100-day)

11,124.05

Resistance 2

12,535.15

MA (200-day)

10,550.34

Pivot

12,289.40

KSE 100 INDEX closed down -85.98 points at 12,273.38. Volume was 11 per cent above average and Bollinger Bands were 32 per cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,404.25 and 2nd resistance level at 12,535.15, while Index will continue to find its 1st support level at 12,158.55 and 2nd support level at 12,043.70. KSE 100 INDEX is currently 16.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bullish on INDEX.

AKD Securities Ltd

Brokerage House

Fair Value 47

Rs Recommendations

Brokerage House

Buy

*Invest Cap

23.91

Buy

AKD Securities Ltd

Positive

TFD Research

25.8

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

Free Float Shares (mn) 585.02 Free Float Rs (mn) 10,934.09 ** NOI Rs (mn) 5.13 Mean 18.69

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

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

45.52

Accumulate

Positive

TFD Research

44.25

Neutral

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

Hold

Technical Outlook 175.80 11,293.39 68.28 65.08

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

57.50 41.47 33.45 30.93

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

326.94 13,283.51 72.13 40.78

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

flowing into and out of PTC at a relatively equal pace. Trend forecasting flowing into and out of NML at a relatively equal pace. Trend forecasting reflect moderate flows of volume into FFBL (mildly bullish). Trend forecastoscillators are currently bearish on PTC.

oscillators are currently bearish on NML.

Brokerage House

Fair Value

Rs Recommendations

210

Brokerage House

Fair Value

Rs Recommendations

Hold

*Invest Cap

52.4

Sell

145

Reduce

AKD Securities Ltd

75.5

Neutral

139.5

Neutral

TFD Research

92.3

Positive

50.3

Positive

TFD Research

245.4

Positive

TFD Research

Technical Outlook 62.79 212.18 186.97 186.19

Rs Recommendations

149

TFD Research

Technical Analysis

Fair Value

*Invest Cap AKD Securities Ltd

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

National Bank of Pakistan

Hold Accumulate

Technical Outlook

ing oscillators are currently bullish on FFBL.

Fauji Fertiliser Co

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

Technical Outlook

Technical Outlook 147.48 31,648.07 131.22 214.60

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

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

60.65 152.07 117.65 113.03

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

373.19 55,105.22 57.52 149.68

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

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

51.05 77.18 69.06 68.34

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

318.50 24,301.39 110.91 76.57

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

HUBC closed down -0.84 at 37.95. Volume was 162 per cent above aver- ENGRO closed up 1.77 at 214.59. Volume was 130 per cent above aver- FFC closed down -4.76 at 147.66. Volume was 128 per cent above aver- NBP closed down -0.67 at 76.30. Volume was 51 per cent below average age (trending) and Bollinger Bands were 5 per cent wider than normal.

age and Bollinger Bands were 59 per cent wider than normal.

age and Bollinger Bands were 187 per cent wider than normal.

(consolidating) and Bollinger Bands were 50 per cent narrower than normal.

HUBC is currently 8.7 per cent above its 200-day moving average and is ENGRO is currently 15.3 per cent above its 200-day moving average and FFC is currently 30.6 per cent above its 200-day moving average and is NBP is currently 11.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average is displaying an upward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to 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 mod- the average volatility over the last 10 trading sessions. Volume indicators flowing into and out of HUBC at a relatively equal pace. Trend forecasting reflect moderate flows of volume into ENGRO (mildly bullish). Trend fore- erate flows of volume into FFC (mildly bullish). Trend forecasting oscilla- reflect volume flowing into and out of NBP at a relatively equal pace. Trend oscillators are currently bullish on HUBC.

casting oscillators are currently bullish on ENGRO.

tors are currently bullish on FFC.

forecasting oscillators are currently bearish on NBP.

Company

Date

Time

Byco Petroleum Pakistan Ltd Fauji Cement Company Ltd BMA Savings Fund BMA Cash Fund Gharibwal Cement Ltd JS Value Fund Ltd BankIslami Pakistan Ltd Habib ADM Ltd Engro Polymer & Chemicals Ltd Pak Int Con Ter Ltd Zeal-Pak Ltd NetSol Technologies Ltd Pakistan State Oil Co. Ltd MCB Bank Ltd IGI Investment Bank Tri-Pack Films Ltd Otsuka Pakistan Ltd. Unilever Pakistan Ltd ICI Pakistan Ltd Kot Addu Power Company Ltd

02-Feb 03-Feb 03-Feb 03-Feb 03-Feb 03-Feb 07-Feb 07-Feb 07-Feb 07-Feb 07-Feb 09-Feb 09-Feb 10-Feb 10-Feb 12-Feb 15-Feb 14-Feb 16-Feb 16-Feb

3:00 11:00 12:30 12:30 4:30 10:30 4:00 10:30 9:30 12:00 3:00 12:00 10:00 10:30 2:00 11:00 10:30 2:30 9:30 12:30

TECHNICAL LEVELS Company

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

229.9

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

AKD Securities Ltd

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

AKD Securities Ltd

810.01 30,739.81 1.04 38.26

Accumulate

playing a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is low as compared to the average displaying an upward trend. Volatility is extremely low when compared to

*Invest Cap

Leverage Position

Rs Recommendations

PTC is currently 3.2 per cent below its 200-day moving average and is dis- NML is currently 22.3 per cent above its 200-day moving average and is FFBL is currently 31.4 per cent above its 200-day moving average and is

Buy

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

Fair Value

*Invest Cap

PTC closed up 0.10 at 18.69. Volume was 283 per cent above average NML closed down -2.00 at 64.24. Volume was 54 per cent above average FFBL closed down -0.39 at 40.63. Volume was 26 per cent above average (trending) and Bollinger Bands were 33 per cent wider than normal. and Bollinger Bands were 16 per cent narrower than normal. and Bollinger Bands were 54 per cent wider than normal.

Accumulate

46.58 38.68 35.72 34.93

Brokerage House

Buy

Leverage Position

44.14 66.88 56.59 52.51

42.1

Technical Analysis

71.45 78.6

AKD Securities Ltd

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

Rs Recommendations

Engro Corporation

Rs Recommendations

Fair Value

Technical Outlook

Leverage Position

37.39 19.25 19.16 19.31

Hub Power Co Ltd

*Invest Cap

Fair Value

*Invest Cap

Fauji Fertiliser Bin Qasim Ltd

Nishat Mills Ltd

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

RSI 1st 2nd (14-day) Support 37.49 2.70 2.50 48.58 68.80 67.90 14.02 52.60 51.70 40.79 24.45 23.85 38.43 24.80 24.40 47.78 88.45 86.70 39.28 16.80 16.35 51.12 10.60 10.25 63.09 372.70 364.40 42.82 124.05 120.65 53.03 11.10 10.85 55.37 3.80 3.65 26.94 8.30 8.10 41.93 1.90 1.80 40.56 28.35 27.75 42.93 2.75 2.65 44.27 2.55 2.45 31.30 38.60 37.65 28.49 64.90 64.10 62.79 212.40 210.20 32.99 13.65 13.20 38.24 4.70 4.60 57.50 39.95 39.30 60.65 144.00 140.30 50.65 121.15 119.95 46.58 37.00 36.05 37.46 138.10 135.15 63.15 285.95 281.85 40.38 3.60 3.45 42.34 1.60 1.55 36.08 2.30 2.25 44.21 10.50 10.10 45.30 42.00 41.60 43.10 2.60 2.50 54.93 14.65 14.15 35.25 69.25 68.35 42.50 220.30 217.05 34.55 2.55 2.50 51.05 75.35 74.35 52.87 23.00 22.40 63.66 24.45 23.90 37.56 2.65 2.55 57.85 1.95 1.85 44.14 62.50 60.70 49.18 170.05 168.35 46.13 2.75 2.65 37.93 1.85 1.80 49.51 2.35 2.30 46.37 6.65 6.50 60.93 323.50 320.00 42.73 208.65 206.00 29.26 64.15 63.70 40.30 284.20 278.40 37.39 18.45 18.20 47.80 206.05 203.40 38.18 26.10 25.70 46.07 12.95 12.65 54.97 21.70 20.75 38.30 2.00 1.95 32.96 3.00 2.90 40.85 64.05 62.85 43.31 2.60 2.55

1st 2nd Resistance 3.15 3.40 70.80 71.90 54.40 55.30 26.00 27.00 25.80 26.40 92.70 95.25 17.95 18.65 11.45 11.95 388.60 396.20 132.55 137.70 11.60 11.85 4.10 4.20 8.80 9.10 2.10 2.15 29.65 30.35 3.00 3.10 2.65 2.70 40.40 41.35 67.20 68.80 217.40 220.15 14.95 15.70 4.90 5.05 41.35 42.10 152.45 157.20 123.90 125.45 39.00 40.05 146.35 151.65 293.20 296.35 3.95 4.10 1.70 1.75 2.40 2.45 11.40 11.90 43.15 43.85 2.80 2.90 15.60 16.05 71.60 73.05 227.95 232.35 2.70 2.80 77.40 78.50 24.30 25.00 25.85 26.70 2.85 2.95 2.15 2.25 66.45 68.65 173.00 174.25 3.00 3.15 1.95 2.00 2.45 2.50 6.95 7.00 330.10 333.20 213.35 215.35 65.40 66.20 297.10 304.20 19.00 19.25 211.15 213.60 26.85 27.25 13.55 13.80 23.25 23.90 2.20 2.25 3.25 3.40 67.20 69.15 2.75 2.90

Pivot 2.95 69.90 53.50 25.45 25.40 90.95 17.50 11.10 380.30 129.15 11.35 3.95 8.60 2.00 29.05 2.90 2.60 39.50 66.45 215.20 14.45 4.80 40.70 148.75 122.70 38.05 143.40 289.10 3.80 1.65 2.35 11.00 42.75 2.70 15.10 70.70 224.70 2.65 76.45 23.70 25.30 2.75 2.05 64.70 171.30 2.90 1.90 2.40 6.75 326.60 210.70 64.95 291.30 18.70 208.50 26.50 13.25 22.35 2.10 3.15 66.00 2.70

Wednesday, January 26, 2011

Edu ministry should remain Fed: Aseff

‘Ministry shift not to hit edu dept jobs’ ISLAMABAD: Federal Minister for Education Sardar Aseff Ahmad Ali Tuesday assured that the transfer of education ministry to the provinces under 18th Amendment of the Constitution will not affect the jobs of its employees. Talking to media, after Annual Sports Day of Islamabad Model College Girls F-6/2, Aseff said, "We have raised the issue of curriculum with Constitutional Reforms Committee for several time which assured to review this decision". Aseff said that the shifting of education to the provinces will harm the quality of education as well as output of 35 departments of the education ministry which are of international standard. To a question, the federal minister said that a simple resolution in the joint session of Parliament can ensure ministry remains a federal subject. Addressing at the Sports Day function, the federal minister appreciated the colourful performances of the students and efforts of the teachers in arranging such event. The minister congratulated the staff of Federal Directorate of Education (FDE) and all its institutions for making the recently held first ever Knowledge City Festival successful. Aseff said that women are participating in all spheres of life and contributing in the economy of the country which is very encouraging. They are even serving in the armed forces, which is a

momentous achievement. Director General, FDE, Shaheen Khan appreciated the performance of the college in both curricular and extra curricular activities and said that all the promises to the model colleges will be fulfilled. Principal of the college, Rehana Rasheed, in her welcome address, gave an overview of the college achievements and said that the college has excelled not only in curricular activities but also in the sports arena. "Sports can inculcate a spirit of tolerance in younger generation and create a healthy mind in healthy body which can take them to the heights of glory," she said. The school girls presented PT show and sang beautiful verses from Allama Mohammad Iqbal' poetry. The students of junior section took part in ring, balloon and spoon race and performed a beautiful folk song. Students of senior sections in colourful dresses performed on the tunes of folk songs of four provinces. Students wearing the garb of Kalash and black robes were centre of attraction for most of the participants. Prizes were distributed among the students who displayed outstanding performances during the sports week. Moiza Rafi was declared as the best athlete and Tehreem Farooq best player at school level, while Ayesha Jilani and Kashmala Khan were given best athlete and best player awards respectively.-APP

Student sets new O Level world record ISLAMABAD: A Pakistani school boy has smashed a world record by getting 23 A grades in his O Levels, taking inspiration from the controversial father of Pakistan's atomic bomb who is hailed a national hero. Ibrahim Shahid, 17, the son of a university professor of electrical engineering and educated at the private Beacon House School in Islamabad, set the record last month by achieving 23 of 24 subjects in the Cambridge exam. "It's a recognition for my country. This has never been done at O Level," he told, dutifully thanking his parents and teachers. "My teacher in Australia told my father 'Mr Shahid your son is an average student and he never can excel,' and then I decided to prove myself," he said in reference to two years he spent in Australia at primary school. Shahid has yet to decide

what to study at university, but said he is drawn to physics and economics, wanting to do something to help his homeland, teetering on the edge of economic meltdown and beset by poverty. "I want to do something for my country - something unique," he said. He confessed to being "worried" about Pakistan, which suffers a critical "brain drain" to the West. Shahid said he takes inspiration from Abdul Qadeer Khan, widely hailed a hero in Pakistan, but reviled in the West after he confessed in 2004 to selling nuclear secrets to Iran, Libya and North Korea. Until February 2009, Khan was subject to a house of arrest for operating a nuclear proliferation ring, but Washington says he still represents a risk. "I'm impressed by Doctor Qadeer Khan. I want to serve my country.-Agencies

DUHS indulges in students’ wk

KARACHI: The second Students' Week of Dow University of Health Sciences (DUHS) began here on Tuesday amid much excitement and fun at the Ojha Campus of the University. Students and faculty from the eight different constituent institutions of DUHS, including Dow Medical College (DMC), Sindh Medical College (SMC), Dr Ishrat-ul-Ebad Khan Institute of Oral Health Sciences (DIKIOHS), Dow International Medical Sciences (DIMC), Dow College of Pharmacy (DCM), Institute of Medical Technology (IMT), Institute of Physical, Medical and Rehabilitation (IPMR) and Institute of Nursing (ION) actively participated in the ceremony. Contingents from each of these institutions led by their respective principal and directors were also part of the march past that marked the beginning of the week. Chief Organiser of the Annual Student Week Dr Rana Masood, in her address mentioned the

aims and objectives of the students' week. Vice Chancellor, DUHS Prof Masood Hameed Khan, on the occasion emphasised the importance of extra-curricular activities and referred to the facilities provided by DUHS to its students. He said that from March 1 this year, each of eight institutes of DUHS will be divided into six houses namely Jinnah, Liaquat, Iqbal, Sir Syed, Johar and Nishtar houses. The inaugural ceremony was followed by first phase of different contests and was participated by both the students and their teachers. The competitions scheduled for the week include debate both in English and Urdu, Mushaira, Naat and Qirat contest, short skits, parodies etc. A talent show for students will held on February 11 and the Prize distribution ceremony is scheduled for February 12.-APP

IIUI staff body polls set for 22nd ISLAMABAD: The International Islamic University, Islamabad (IIUI) has decided to hold 2-yearly elections of the University Staff Welfare Association (USWA) on 22nd February, 2011. This was decided by Prof Fateh Muhammad Malik, Rector IIUI and Dr Mumtaz Ahmad,

200 enrolled under ‘inclusive education’

HYDERABAD: Deputy Speaker Sindh Assembly Shahla Raza distributing prizes among the participants during a ceremony in connection to Shah Latif Day organised by Institute of Modern Sciences & Arts.-Online

NUST termed a nest of premium didactics ISLAMABAD: National University of Science and Technology (NUST) is the only internationally ranked public sector university, providing international standard education to the students with economical fee structure. "We are a country with abundant talent and capability and most of the talented students come from the lower middle and middle class segments of the society," he said. This was observed by the Rector NUST Engineer Muhammad Asghar during his briefing to an 11-member delegation of British MPs led by Roger Gale MP, visiting NUST for a study tour organised by the British Council. With the increasing levels of awareness in the society about female education we were receiving large number of female students in subjects like Engineering and Information Technology, Bio Sciences, Architecture and Civil Engineering that were previously considered to be highly male

dominated, he expressed. The MPs were curious to know about the funding resources catering for the financial needs of the university. Similarly, the highly qualified faculty, the state-of-the-art laboratories, impressive ratio of the female students were some of the aspects that drew the admiration of the visiting dignitaries. The Rector briefed the delegates about the growth and progress made by the university over the years. It was only because of the highest standards and most advanced teaching patterns adopted by the university that the NUST was ranked 350th in the world while in subject-wise ranking it was rated 285th in Engineering and IT, 293rd in Medical Sciences and 260th in Natural Sciences, he informed the delegation. Earlier, the Rector apprised the delegation of the phenomenal growth made by the university in the past few years. He also highlighted that some of the faculty members have

ISLAMABAD: More than 200 students with disabilities have been enrolled in 16 schools of federal government to get education with other students under "Inclusive Education" initiative. The initiative of "Inclusive Education" was launched in 2003 with the collaboration of Federal Directorate of Education, Director General of Special Education and a nongovernment organisation Sightsaver, said a representative of Sightsaver while talking to APP here on Tuesday. She informed that AlMakhdoom, an institution of special persons was established as centre of training for inclusive education where initially 25 students and teachers of two schools were trained for facilitating visually impaired children. After completing training as a pilot project these students were enrolled for three years, she said. "The pilot project was run for three years and after that a monitoring review was conducted to evaluate the progress of this initiative", Sightsaver official added. The monitoring review found encouraging results and it was decided to start second phase of the project under which 14 more schools of federal capital were engaged to enroll children with disabilities. "Now more than 200 students are getting education in these schools with other students", she informed. "This core group is working to engage more schools in 'inclusive education' throughout the country so that more students could be enrolled in mainstream schools", she informed.-APP

acquired higher education from the well-recognised universities of UK and Europe, adding that there were more than 300 PhD degree holder faculty members teaching in the various disciplines offered by the university. The British MPs expressed their delightfulness on the achievements and unprecedented growth made by the University in a short span of time. The delegates also visited various parts of the campuses including NUST Business School (NBS) and the School of Electrical Engineering and Computer Sciences (SEECS) where they not only personally observed the advanced labs but also interacted with the students and discussed various social and academic issues with them. Later on the MPs attended a roundtable discussion with the students and discussed various issues being faced by the Pakistani society in general and students in particular. The Rector presented NUST souvenirs to the ISLAMABAD: Allama Iqbal Open University (AIOU) Vice guests.-APP Chancellor Prof Dr Nazir Ahmed Sangi has said that university would focus on tutors training programmes during 2011. He expressed these views while talking to a delegation of Tutors Forum of Pakistan, led by ifications in their own time, select- its president Asghar Ali ing those which best suit their own Mubarik. He said that AIOU is playing a career needs and aspirations." Foundations in Accountancy vital role in the promotion of quality education in the country. also sees certification awarded at VC said that with the advanceeach level, helping students to ment in IT education, we would monitor their progress, and help- be able to compete the developed ing employers to recruit and nations of the world. train to meet their own business Sangi said that IT education is needs. The practical content necessary for all tutors and in means that the knowledge stu- this regard the year 2011 is dents' gain is directly applied to declared 'Year of Tutor's the workplace, offering immedi- Training'. ate benefits to existing and He said that AIOU would launch tutors training proprospective employers. grammes in its 36 campuses in coordination with INTEL.-APP

AIOU to focus tutors' training

‘Foundations in Accountancy’ laid TFD Report KARACHI: The Association of Chartered Certified Accountants (ACCA) has launched "Foundations in Accountancy", a new flexible suite of entry-level awards, designed to meet the needs of both students and employers. 'Foundations in Accountancy' was created after detailed consultation with employers, learning providers, members, students and other professional accountancy

bodies and regulators. 'Foundations in Accountancy' provides a solid grounding in financial and management accounting, and includes a module in professionalism and ethical behaviour. Arif Masud Mirza, Head of ACCA Pakistan said, "With Foundations in Accountancy, students will benefit from the flexible range of entry points, meaning they can begin at the right level for them, and then progress through the awards. And when it comes to flexibility, they can complete qual-

SSUET holds Job Fair 2011 President IIUI here. According to details a special committee has been formed to supervise the elections with Syed Hassan Aftab Kazmi, Additional Director Admission of the university as its chairman. Other member of the committee include Ch Muhammad Hussain, Deputy Director Shariah Academy, Hafiz |Bashir Ahmad, Deputy Director, Dawah Academy, Syed Muzammil Hussain Shah, Deputy Director Public Relations, Muhammad Ijaz Abbasi, Assistant Director, Noor Hussain, Assistant Director, Nuzhat Zareen, Deputy Director, Nosheen Syed, Assistant Director, Rubab Fatima, Assistant Director.-APP

KARACHI: Dawood Public School secured first position for the best 3D display at WWF- Pakistan Traveling Nature Carnival 2011. Picture shows Chief Executive Dawood Public School Sabrina Dawood receiving the award.-Staff Photo

KARACHI: An Open House2011 titled 'Education and Job Fair" showcasing some 100 innovative projects prepared by the final year students of Electronics department opened at Sir Syed University of Engineering and Technology (SSUET) here. The ceremony was attended among others by Vice-President Aligarh Muslim University Old Boys Association Engr Adil Usman, Vice-Chancellor SSUET Prof Dr Syed Nazir Ahmed, Registrar Shah Mahmood Hussain Syed besides a number of top business executives, industrialists and representatives of various organizations participating in the fair.-APP

Wednesday, February 2, 2011

Brent back above $101 on Egypt port disruptions, $

European vegetable oil prices

IEA says Egypt situation not an emergency

ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 1005.00+0.00, Apr11 1005.005.00, May11/Jul11 1010.005.00, Aug11/Oct11 1015.005.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1030.00+0.00, Aug11/Oct11 985.00+0.00, Nov11/Jan12 990.00+5.00, Feb12/Apr12 995.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Feb11 1475.00-10.00, Mar11 1475.00-10.00, Apr11/Jun11 1460.00+0.00, Jul11/Sep11 1475.00+0.00, Oct11/Dec11 1385.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1600.00+10.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1282.50-2.50, Feb11 1285.00+0.00, Mar11 1285.002.50, Apr11/Jun11 1265.00+0.00, Jul11/Sep11 1245.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1332.50, Mar11 1327.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1285.00+5.00, Mar11 1280.00+0.00, Apr11/Jun11 1257.50+7.50, Jul11/Sep11 1227.50+7.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2250.00+10.00, Mar11/Apr11 2200.00+0.00, Apr11/May11 2190.00+5.00. Reuters

LONDON: Oil hovered around $101 per barrel on Tuesday after a rally on Monday supported by port disruptions in Egypt, a weakening dollar and concerns about growing social unrest in north Africa. "Geo-politics is at the forefront of the sentiment at the moment. And while we don't expect (oil) transit to be impacted, the news of the port disruptions brings up the what-if?," said Amrita Sen, oil analyst at Barclays. Brent crude futures were up 6 cents at $101.09 a barrel as of 1617 GMT. US crude oil futures were down 74 cents at $91.46 per barrel after falling by over $1 during the day. Shipping sources said there were major disruptions in Egypt's Alexandria and Damietta ports, pushing Brent swiftly past $101. Risk-buyers were also encouraged to take long positions as the wave of uprisings from Egypt and Tunisia spread to Jordan, prompting the country's king to dismiss the prime minister and cabinet.

"The more alarming the news is from the region, the more nervous the market is and the higher the political premium," said Eugen Weinberg an analyst Commerzbank's senior commodity analyst, adding that a weaker dollar also supported higher prices. The International Energy Agency said on Tuesday the oil market does not face any emer-

gency, but called on OPEC to remain "flexible" in the event that contagion does spread and shortages begin to show. The top oil official for OPEC member Libya told Reuters OPEC does not need to meet to discuss oil policy in February because the market is well supplied and prices of $100 are justified. The Organization of the Petroleum Exporting Countries says it holds about 6 million bar-

rels per day (bpd) of idle production capacity -- equal to 7 per cent of world demand -- that it could tap to fill any shortage. Most of this capacity is held by Saudi Arabia. "The market moves on the what-if factor, so you can't rule it out," said Toni Machacek, an oil broker at Bache Commodities. "But if there is a significant reduction of tensions in Egypt we will settle back to more normal levels and go below $100 to the upper 90-dollar range we had for the first few weeks in the year." The market expects the US Energy Department to show high crude inventories in data to be released on Wednesday, which analysts said could further pressure US crude futures. According to a Reuters poll of analysts, US crude inventories likely rose 2.8 million barrels last week on higher imports, while colder weather drew down distillate stockpiles by 1.2 million barrels. -Reuters

Indian sugar down on higher supply

AMRITSAR - INDIA: Indian Sikh Farmers plant paddy cuttings in a field on the outskirts of Amritsar in the northwestern state of Punjab. -Agencies

US cotton ends high in anticipation of â&#x20AC;&#x2DC;11 planting NEW YORK: US cotton futures rose more than 2 per cent on Monday, as investors continued to price in tighter supply even as a US cotton plantings survey due this week is expected to show farmers intend to raise production. The rally put cotton back within easy reach of the historic, post-US Civil War high hit on Thursday at $1.7283 a lb before, a 2.7 per cent pullback on Friday. Farmers around the world are expected to plant more cotton this year, motivated by the market's more than 22-per cent rally since the middle of

January. That did not stop the key March cotton contract on ICE Futures US from rising 3.69 cents to settle at $1.6844 per lb, near the upper end of its $1.6546 to $1.6875 session range. Estimated total volume stood was about 21,800 lots, roughly 15 per cent above the 30-day average, Thomson Reuters preliminary data showed. Strong cotton prices in top consumer China and tight deliverable stocks of cotton on the ICE Futures US exchange reinforced the market's strong tone to start the year. That has

the market hanging on the 2011 plantings forecast to be released by industry group the National Cotton Council of America at its annual meeting in San Antonio, Texas this week. 'It appears there is going to be a pretty big struggle to secure acreage, 'said Bill Raffety, senior analyst for futures brokerage Penson. 'We'll probably continue to move up until we find out what the acreage is going to be,' Raffety said. 'If the acreage satisfies the needs of the endusers, then we might see this thing come off.' -Reuters

Tokyo rubber edges higher TOKYO: Key Tokyo rubber futures edged up on Tuesday but the firming of the yen and a dip in oil prices later in the session capped gains, while trading activity also slowed ahead of China's week-long New Year holidays. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery settled up 1.6 yen or 0.3 per cent at 467.6 yen ($5.71) per kg on Tuesday, after rising as much as 1.2 per cent to 471.5 yen. The benchmark TOCOM futures hit a record high of 484.9 yen last week. Traders said an absence of players from China, the world's largest rubber consumer, during the week-long holidays starting on Wednesday may dampen incentives to test prices higher

and keep them off peaks. But as major rubber producing countries enter the wintering season, when output slows, and with demand for automobiles expected to remain strong in China and India, the rubber futures market was seen likely to remain well-supported. The spot TOCOM contract for February delivery settled higher at 478.4 yen compared with the distant contract for July delivery, reflecting concerns about supplies in the near term, traders said. On the Shanghai futures

exchange, the most active rubber contract for May delivery closed at 41,710 yuan per tonne, up from Monday's close of 40,920 yuan. The May contract rose as high as 41,790 yuan, just shy of a record high 41,850 yuan hit on Monday. Volume fell further to 416,200 lots on Tuesday from 502,578 lots the day before. Asian physical rubber prices were steady near recent strong levels on Tuesday, supported by firm TOCOM futures prices, but demand was weak because of the Lunar New Year holidays, dealers said. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 31 2011 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1250

December (3rd Wednesday)

1310

1250

January (3rd Wednesday)

1310

1255

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

2310 2320 2285 2295 2245 2255 2245 2255

2482 2482.5 2494 2495 2547 2552 2588 2593

9715 2575 9720 2576 9675 2475 9680 2475.5 9495 2410 9505 2415 9105 2360 9115 2365

27070 27075 27095 27100 26125 26225 24920 25020

TIN

ZINC NASAAC

30095 2333.5 30100 2334 30000 2358 30050 2360 29500 2367 29550 2372 2337 2342

2431 2432 2450 2460 2480 2490 2535 2545

MUMBAI: Indian spot sugar prices eased on Tuesday due to higher supplies amid weak demand, while futures rose owing to bargain-buying, said dealers and analysts. "Supplies are more than demand. In February, demand is unlikely to rise sharply," said Ashwini Bansod, a senior analyst at MF Global Commodities India. India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January, the government said in a statement on Jan. 31. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. A panel of Indian ministers will review 500,000 tonnes of sugar permitted for overseas sales, two government sources said last month. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety eased by 0.3 per cent to 2,704 rupees ($59) per 100 kg, after losing 5 per cent last month. The most-traded M-grade sugar contract for February delivery NSMG1 on India's National Commodity and Derivatives Exchange (NCDEX) provisionally ended up 0.8 per cent at 2,769 rupees per 100 kg. -Reuters

Copper near $10,000/T, macro data supports LONDON: Copper hit a record high on Tuesday nearing $10,000 a tonne, buoyed by positive US economic data as well as supply concerns, while a weaker dollar underpinned its advance. Three-month copper on the London Metal Exchange closed at $9,945 a tonne from $9,745 at Monday's close. The metal used in power and construction earlier hit a record $9,955 a tonne. A slew of improving economic data that suggested the global economic recovery was gathering steam, and a backdrop of constrained supply and fresh month fund allocation fuelled copper's advance, analysts and traders said. "The general story is for economic growth. The last few days we've seen some strong economic numbers... combined today with the US ISM (Institute for Supply Management), it does add up to quite a good picture," said analyst Daniel Smith of Standard Chartered. "$10,000 looks to be sooner rather than later." A widening market deficit is seen propelling copper to new highs this year. Tin hit a record $30,400 a tonne before subsiding to finish at $30,155 versus Monday's close of $30,100. Prices are up more than 10 per cent this year, boosted by worries about supplies from top exporter Indonesia. Markets in top consumer China will be shut from Wednesday for week-long holidays and traders also cited short-

Robusta coffee hits 2-1/4-yr high, cocoa dips

covering ahead of the Chinese Lunar New Year behind rising LONDON: Robusta coffee futures shot up to a fresh 2-1/4 prices. year high on technical buying Falling copper stocks in LME on Tuesday, tracking strength Shanghai copper rallies in arabicas which edged toward London copper rallied to a 13-1/2-year peaks. record $9,860 a tonne on New York cocoa retreated Tuesday, tin also rose to an from near a one-year high as unprecedented $30,400 a concerns fuelled by an export tonne, while Shanghai copper ban in top grower Ivory Coast hit its highest in nearly four were put on the back burner. years supported by positive Instead, commodity investors Chinese purchase manager focused on breaking news in data and healthy US factory the Middle East, which also supported sugar. activity. March robusta coffee on Liffe Shanghai's most-active copper futures contract, April, bounded up $33 or 1.5 per cent rose 2 per cent to 74,950 yuan to $2,244 a tonne at 1621 GMT a tonne, having touched after touching $2,247, its high75,000 yuan, its strongest est since Aug. 2008. The front since April 2007. Shanghai month contract had broken zinc rallied 4 per cent to close through contract highs in the at 19,460 yuan, its highest previous session, a technical signal it was likely to rise fursince early January. ther. ICE March arabicas rose warehouses underlined supply 2.1 cents or 0.9 per cent to concerns. Latest data showed $2.4690 a lb after hitting they fell 100 tonnes to 393,925 $2.5075 a lb on Monday, the tonnes. Nickel hit its highest highest level for the front month since May 2008 at $28,120 a contract since June 1997. Raw sugar futures on ICE fell tonne -- and was last at $27,950 slightly in volatile trading, but a tonne from $27,350. Aluminium rose to its highest remained near their 30-year since September 2008 at $2,570 peak, while Liffe white sugar a tonne. It wound up at $2,551 futures rose to within sight of from $2,519. Battery material record highs, underpinned by lead was untraded but quoted at political turmoil in the Middle $2,535/2,540 from $2,510 a East and high oil prices, brotonne. The metal has in recent kers said. ICE March raw sugar was weeks come under pressure from stocks in LME warehouses, down 0.24 cent or 0.7 per cent to 33.73 cents a lb at 1621 which at 282,700 are at their GMT, below its 30-year peak highest since 1995. Zinc was untraded but quoted of 34.77 cents a lb, touched on at $2,472/2,473 a tonne versus Dec. 29. London March white Monday's close of $2,427 a sugar was up $7.90 or 1 per cent at $819.50 per tonne after tonne. -Reuters touching $830.00 a tonne, near its record peak of $835.80 a tonne, hit on Dec. 29. "Uncertainty in the Middle East and firm oil -- all this gives support to the market," said Eduardo Milanes of broker improved, diverting interest Sucden Financial. "There's a lot from so-called havens such as of nervousness around." gold into higher-yielding assets. Despite high volatility, sugar The largest gold exchange- prices have been largely rangetraded fund, the SPDR Gold bound since last month, supTrust, saw its second-largest ported by uncertainty over the monthly outflow ever in January. level of exports from number 2 The iShares Silver Trust, the producer India and adverse main silver ETF, said its hold- weather in some leading proings fell by the most ever in a ducers. Cocoa futures on ICE dipped as market participants single month. Asian physical gold demand waited to see how a call for a lent some support to gold prices, month-long export ban in top although this is tailing off as grower Ivory Coast would China's Lunar New Year holiday impact future bean supply. ICE benchmark March cocoa celebrations get underway. Premiums for gold bars soared fell $22 or 0.7 per cent to to their highest in more than two $3,330 a tonne at 1623 GMT, years in Tokyo on Tuesday and just below its one-year peak of $3,420 per tonne, touched last week. London May cocoa dipped 24 pounds or 1.1 per cent to 2,151 a tonne. -Reuters

Gold surrenders early gains after US data LONDON: Gold prices fell back below $1,330 an ounce on Tuesday after data showing the US manufacturing sector expanded in January lifted the dollar and boosted appetite for higher-risk assets at gold's expense. The dollar's recovery outweighed support lent by geopolitical tensions in Egypt, which had helped gold recover from three-month lows hit last week. Spot gold fell as low as $1,325.40 an ounce and was bid at $1,327.30 an ounce at 1525 GMT, against $1,331.90 late in New York on Monday. US gold futures for April delivery fell

$5.60 an ounce to $1,328.90. "In general the market wouldn't like to be short because it is afraid of the geopolitical risks we are seeing at the moment," said Deutsche Bank senior trader Michael Blumenroth. "On the other hand, there are not so many incentives to be long at the moment because the big hedge funds are putting money away from the gold market into riskier markets at the moment." Gold posted its biggest monthly drop in January since Dec. 2009 as investor risk appetite

could rise further as steady shipments to other bullion trading centres in Asia led to a tight supply, dealers said on Tuesday. Gold imports in India, the world's largest consumer of the yellow metal, rose 18 per cent in January to 40 tonnes provisionally, higher than a Reuters forecast, the head of the Bombay Bullion Association told Reuters. Platinum was at $1,800 an ounce against $1,791.50, while palladium was at $813.93 against $811.97. Silver was bid at $27.98 an ounce against $28.04. -Reuters

BD tea prices slide at weekly auction DHAKA: The average price of Bangladeshi teas fell marginally to 190.67 taka ($2.68) per kg at the weekly auction on Tuesday, brokers said. More than 1.33 million kg were sold, leaving 24.71 per cent of the offer, to be carried back. Different grades were sold between 140 taka and 238 taka per kg at the auction. But in an exclusive sale for well-made teas some 250 kg of Churamoni Dust realised the highest price of 247 taka per kg. -Reuters

National Commodity Exchange Ltd Trading Summary Date

1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011 1-Feb-2011

Commodity

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

Contract Date

Price Quotation

Open

High

Low

MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 03FE11 FE11 FE11 11-Mar 11-Jun

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

89.80 92.15 94.00 27.91 27.86 1330.00 1331.50 1331.00 1330.90 1328.10 1332.00 36915.00 36883.00 36950.00 36846.00 36855.00 42977.00 42977.00 37950.00 37895.00 37909.00 37923.00 37937.00 43781.00 44161.00 44000.00 43564.00 43580.00 3284.00 3298.00 5329.00 86.12 85.46

92.75 94.64 95.33 28.37 28.24 1340.20 1340.70 1341.50 1337.20 1341.00 1337.50 37021.00 37027.00 37050.00 36990.00 36999.00 43145.00 43145.00 38082.00 38123.00 38041.00 38055.00 38068.00 43786.00 44161.00 44000.00 43719.00 43734.00 3284.00 3298.00 5352.00 86.12 85.46

88.44 90.97 93.65 27.71 27.86 1322.90 1323.50 1325.00 1330.90 1325.80 1332.00 36701.00 36883.00 36900.00 36846.00 36855.00 42977.00 42977.00 37950.00 37895.00 37909.00 37923.00 37937.00 43596.00 43533.00 43549.00 43564.00 43580.00 3227.00 3241.00 5329.00 86.11 85.43

91.60 93.80 95.33 28.23 28.24 1337.20 1337.50 1338.30 1337.20 1337.50 1337.50 37018.00 37027.00 37044.00 36990.00 36999.00 43145.00 43145.00 38082.00 38123.00 38041.00 38055.00 38068.00 43750.00 43797.00 43703.00 43719.00 43734.00 3227.00 3241.00 5352.00 86.11 85.43

Traded Volume in lots 437 94 2 222 2,179 1,506 623 44 44 33 7 7 1 -

Previous Settlement Price 92.08 94.18 95.67 28.22 28.23 1337.60 1338.00 1338.70 1337.60 1338.00 1338.70 37059.00 37068.00 37085.00 37031.00 37040.00 43193.00 43193.00 38124.00 38166.00 38083.00 38097.00 38111.00 43799.00 43847.00 43751.00 43767.00 43783.00 3284.00 3298.00 5329.00 86.12 85.46

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

Current Open Interest Settlement in Lots Price 91.60 65 93.80 86 95.33 3 28.23 46 28.24 2 1337.20 2,430 1337.50 2,393 1338.30 202 1337.20 1337.50 4 1338.30 37018.00 14 37027.00 1 37044.00 82 36990.00 1 36999.00 43145.00 43145.00 38082.00 38123.00 38041.00 38055.00 38068.00 43750.00 8 43797.00 6 43703.00 1 43719.00 8 43734.00 3 3227.00 3241.00 5352.00 86.11 85.43 -

Athletes skate during men's 500 meters finals at Asian Winter Games Short Track speed skating competition in Astana

Wednesday, February 2, 2011

Clijsters moves up world rankings

Misbah engineers a close victory

NZ thrashed by couple of wickets

Monitoring Desk PARIS: Australian Open winner Kim Clijsters rose to second place in the world rankings and within close range of Caroline Wozniacki who held on to the top spot despite once again failing to win a Grand Slam title. China's Li Na, who lost in Saturday's final in Melbourne, moved up to a career-best seventh place with Francesca Schiavone of Italy up to fourth behind Vera Zvonareva. Former world number one Serena Williams, who has not played since winning the Wimbledon title last year, falled out of the top 10. For the first time, the top 10 players in the women's tennis rankings represent 10 different countries. The WTA said in a statement that 11 different nations are represented among the top 11 spots and 30 different countries among the top 60 in Monday's rankings. "Having 10 different players represent the top 10 rankings shows how truly global tennis has become," WTA Chair and CEO Stacey Allaster said. Denmark's Caroline Wozniacki remained No. 1, followed by Australian Open champion Kim Clijsters of Belgium, Russia's Vera Zvonareva, Italy's Francesca Schiavone and Australia's Sam Stosur. The next five: Venus Williams of the United States, China's Li Na, Jelena Jankovic of Serbia, Victoria Azarenka of Belarus and Poland's Agnieszka Radwanska. Shahar Peer moved to a career-high of No. 11, a record for a player from Israel. Schiavone is the first Italian to break into the top five. Australian Open runnerup Li is the first Chinese player to reach No. 7. Former No. 1 Serena Williams, who has been out with a foot injury since winning Wimbledon last year, dropped from No. 4 to No. 12.

Sehwag termed a game changer NEW DELHI: Himself a game changer who pioneered the controversial switch-hit, England batsman Kevin Pietersen feels destructive Indian opener Virender Sehwag and West Indian Chris Gayle are the other two batsmen capable of turning a match on its head. "There are a few players I admire as game changers today. Virender Sehwag is one of them, he opens the batting and you know as an opposing player that within 10-15 overs of a Test match or 10-15 overs of a one-day international, the man can change the game," Pietersen said. "Another game changer is Chris Gayle from the Caribbean, who does a similar job as Sehwag. These are the two guys I love watching and love playing against," he added. The flamboyant 30-yearold, whose switch-hit gets him as much applause as criticism, said he always tries to innovate so as to make the sport interesting for the fans.Agencies

Pakistan take 2-1 lead NAPIER: Pakistan continued to show they are masters of making mountains out of molehills, but Misbah-ul-Haq's supremely paced innings and Sohail Tanvir's nerveless hitting took them to a tense win in Napier that puts them 2-1 up. New Zealand had earlier showed the benefits of stacking their side with allrounders as they recovered from an all-toofamiliar top-order collapse to post a respectable total but it didn't prove enough. New Zealand's top-order had perished to some daft shots, and Pakistan's batsmen continued that trend to keep the game balanced halfway through the chase in Napier. The visitors had their elder statesmen in the middle-order, Misbah-ul-Haq and Younis Khan, were steadily setting the stage for the explosive but unpredictable trio of

NAPIER: Misbah-ul-Haq of Pakistan celebrates 50 runs with team mate Younis Khan during game four of the One Day International Series between New Zealand and Pakistan at McLean Park.-Reuters

Chelsea shatter record to land Torres

Eng to shed Shahzad out of their WC crew ENGLAND: ENGLAND have been left with four of the bowlers from their World Cup squad on the sidelines after Ajmal Shahzad was ruled out of the ongoing one-day international series against Australia due to a hamstring injury. Shahzad underwent a scan in Sydney today which revealed a minor tear in his hamstring and

while he will miss the final two games of the already-lost series, he is expected to be fit in time for the World Cup. The Yorkshireman will remain with the England squad in Australia to begin his rehabilitation but it is a further blow to Englandâ&#x20AC;&#x2122;s World Cup attack. Spinner Graeme Swann (back/knee) and Tim Bresnan

(calf) were forced to leave the tour early last week while Stuart Broad is still recovering from the stomach injury he suffered during the Ashes. All four are expected to be fit in time for the start of the World Cup though, with Broad revealing yesterday that he was ahead of schedule in his return.-Reuters

Ferguson in Aus ODI squad SYDNEY: Callum Ferguson has been added to Australia's squad for the remaining two one-day games against England after Shaun Marsh became the latest casualty in Australia's batting line-up. The hosts began the series without Ricky Ponting (finger) and Michael Hussey (hamstring) and Marsh joined the injury list during the series-clinching win on Sunday when he hurt his right hamstring.

Marsh entered Sunday's game with a question-mark over his hamstring and he has been ruled out of the rest of the series after scans showed a low-grade injury, although it is still unclear how long he will be sidelined. Marsh is not part of the World Cup squad, but was viewed as the most likely candidate to be included if Hussey's recovery did not allow him to make the trip.

The problems have allowed a late-season call-up for Ferguson, who missed a year due to a serious knee injury and did not bat in his only appearance for Australia since his return, in a game against Sri Lanka in Brisbane in November. Ferguson had been gearing up to be part of South Australia's side for Saturday's Big Bash final, but will instead be pushing for a place in the Australia team.-Reuters

LONDON: Chelsea signed Spain striker Fernando Torres from Liverpool on Monday in a 50 million pounds ($80 million) deal that shattered the British transfer record. Torres has signed a five-anda-half-year contract with the Premier League champions, who announced the deal on their website 35 minutes after the official close of the January transfer window. "Chelsea Football Club is delighted to announce the signing of Fernando Torres on a five-and-a-half year contract," a statement on the Blues' website announced. The 26-year-old's transfer smashed the previous British record set less than an hour earlier when Liverpool paid Newcastle 35 million pounds ($56 million) to sign England striker Andy Carroll as Torres's replacement. Although Torres is unlikely to feature in Chelsea's Premier League match at Sunderland on Tuesday, the forward could make his debut against Liverpool of all teams at Stamford Bridge on Sunday.Reuters

Shahid Afridi, Umar Akmal and Abdul Razzaq to take over. Pakistan made a bright start to the chase, with Ahmed Shehzad smashing four fours in the first three overs. Mohammad Hafeez also began to cut loose after offspinner Nathan McCullum was brought into the attack as early as the sixth over - but he fell to an outstanding leaping catch from Ross Taylor at first slip. Shehzad kept the boundarycount high, stepping out to launch Daniel Vettori over long-off for six and with Kamran Akmal peppering the off-side rope, Pakistan were coasting along. Both though fell to tame shots to short midwicket - Shehzad flicking and Kamran sweeping - to let New Zealand claw back into the game. That brought together Misbah and Younis who hit no boundaries but took the singles

to prepare Pakistan for a late onslaught. The home side's famously fragile top order couldn't have asked for better conditions to get their groove back: a postcard-perfect day in Napier, the chance to bat first on a pancake-flat track, and the short boundaries and fast outfield at McLean Park. All seemed to be going to plan when Martin Guptill and Jamie How provided New Zealand with a fast start. It was never more rosy than when Guptill hammered Abdul Razzaq over midwicket for six after having crashed him past backward point for four to leave the home side at 37 for 0 in six overs. That over cost Razzaq 12 runs, but he only conceded four more in a stifling seven-over opening burst.Reuters

White foresees Sydney crowd backing Clarke SYDNEY: Cameron White hopes there will be no repeat of the booing which greeted Michael Clarke's entry to the crease in Brisbane as the Australia stand-in captain continues his battle for form. Clarke responded with 54 at the Gabba, by which time the crowd were showing support and they cheered again when Australia wrapped up the series. Clarke has had a difficult summer with his popularity slumping along with his batting results and his fifty on Sunday was just his third for the international season. He has also been leading the side in Ricky Ponting's absence and his team-mates want to see a better public reaction from his home crowd in Sydney. "It was a little disappointing from our point of view," White said. "It was also interesting to see them cheer him off after he got a few runs as well. Michael is a very important player for the team and it's great to see him back in a bit of form. I'd be

very surprised if he got that sort of reaction again, let's hope not. It's his home crowd and the series is won so hopefully the fans get behind him here." Clarke, however, accepted why he was given a tough reception from the supporters in Brisbane. "Obviously you'd like people to be cheering but I can understand why a few of them were booing," Clarke said after the victory. "I haven't performed as well as I'd like, so I don't blame the public for being disappointed with my performances." White, the vice-captain for the one-day series, has been impressed with Clarke's leadership during these games. It has helped that, unlike Ponting in the Tests, he's had a number of wicket-taking options available to him in the form of Brett Lee and Doug Bollinger, but he has used the resources well and also shown faith in some of the younger players like John Hastings and Steve Smith.Reuters

Misbah must be named skipper: Zaheer Abbas

Who will captain Pakistan? Cricket lovers support Afridi as leader for the WC ISLAMABAD: Pakistan beats New Zealand by two wickets in the fourth ODI at McLean Park, Napier Tuesday with an outstanding performance by Misbah-ul-Haq's 93 not out from 91 balls, his highest score in One-Day Internationals under the captainship of Shahid Khan Afridi. Pakistan's ICC World Cup 2011 Squad without Captain have announced and no Place for Mohammad Yousuf Pakistan's captain for ICC Cricket World Cup would be named on February 4, a day before the final match of the team's ongoing ODI series in New Zealand, Pakistan Cricket Board Chairman (PCB) Ijaz Butt said on Monday. It is a tough, difficult and potentially contentious decision for PCB to select caption from Afridi, the one-day match Captain and Misbah, the test

match Captain against New Zealand. Pakistan has claimed a 2-1 series lead over New Zealand. Pakistan former skipper Zaheer Abbas told media that the way Misbah-ul-Haq is playing, he should be appointed as captain for Cricket World Cup 2011. "Everyone can see his performance with the bat which is very remarkable and adds to the team's confidence." Said Zaheer. He believes there are chances that PCB could choose Misbah as ODI skipper. He said that a player should have the temperament to stay on the crease and not go for hitting every ball. "Misbah has impressed everyone with his captaincy during the test and ODI matches and has made important contributions with the bat," he concluded. Zaheer said: "in this World

Cup, our team should go in with all preparations in all three formats of the game batting, bowling

MISBAH

lovers of Rawalpindi, Islamabad have also joined the debate of who will be Pakistan cricket

and fielding." Pakistan has still two more ODI's to play against New Zealand. While, the die-heart cricket

SHAHID

team captain for the World Cup supporting Shahid Afridi as there all time favourite as the best contender for the mega event.

Pakistan squad for the mega event includes Shahid Afridi, Misbah-ul-Haq, Muhammad Hafeez, Kamran Akmal, Younis Khan, Asad Shafiq, Umer Akmal, Abdul Razzaq, Abdul Rehman, Saeed Ajmal, Shoaib Akhtar, Umer Gul, Wahab Riaz, Sohail Tanvir and Ahmad Shehzad. In a causal talk with media, a local taxi driver said, "I just cannot understand why the Pakistan Cricket Board has delayed to announce the captain on February 4. By not announcing the captain, the board has split the players into Shahid Afridi and Misbah-ul Haq groups. In such circumstances I believe Afridi is the best possible choice to lead the team for the world cup." A local traveler at the bus stop said that "If PCB chairman Ijaz Butt is waiting till February 4 to see how Afridi performs as captain in the one-day series in New

Zealand then I don't think that it is a wise move because this is not the time to change the captain. For the World Cup they should continue with Afridi. A private telecom company employee said that I don't know about who will be the captain but Pakistan will surely miss Muhammad Yousuf. He said that our team's chances of reaching even the quarter-finals are dull. A government employee said, "I am happy they did not include Muhammad Yousuf this time. We need young blood. You can't bet on the same horse to win your races for 20 years." "Wishing good luck to Pakistani team, he said, "even if they lose, I hope they will put a fight till the end because you cannot win every match but you can put up a fight and at least try to win. I think the team is quite capable to give a tough time to any opponent."-APP

PMI surveys hint at deeper-seated inflation LONDON/BEIJING: Costs for Asian and European manufacturers jumped in January as firms ramped up production, surveys showed on Tuesday, the latest evidence of growing pressure on global inflation from food and fuel prices. Inflation has rapidly hurtled to the top of the policy agenda around the globe, but in many cases it is not clear if rises in the cost of raw materials will lead to consumer price hikes that would force central banks to up interest rates soon. Purchasing managers' indexes (PMIs) suggested both that the economic recovery was gaining momentum in Europe - boosting demand for goods -and also that firms have managed to pass on some of their increased costs to their customers. For the 17-nation euro zone bloc, the PMI input price gauge jumped to its highest since the survey began in 1997, while across the channel in Britain there was substantial growth in both input costs and factory gate prices. "The obvious culprits are food and energy prices," said Mark Miller, global macroeconomist at Lloyds Banking Group. "The increases in commodity prices that we have seen very recently are likely to persist." Rising food and fuel prices have already hit poorer countries and are one of the factors behind massive anti-government protests in Egypt and in Tunisia, whose president was ousted last month. The European data, compiled by Markit from comprehensive surveys of private sector business, are likely to add to speculation that central banks will soon have to raise the record

low interest rates held in place since the global financial crisis set in. Input costs for Chinese manufacturers also rebounded in January, according to the official PMI. The comparable input price index for India rose for a seventh straight month, while factory gate prices were up for the fourth month in a row. "This provides a further reason to think that headline inflation is likely to pick up in the next few months," said Brian Jackson, economist at Royal Bank of Canada in Hong Kong. In South Korea, official data showed inflation rose above the central bank target to hit a three-month high of 4.1 percent. Manufacturing input prices as measured by the PMI soared to a nearly two-year high, boosting the case for an interest rate hike next week, which would mark a rare backto-back streak. In the euro zone, the European Central Bank is expected to leave rates on hold at their record low of 1.0 percent when it meets on Thursday. But there is growing speculation that the Governing Council will act sooner rather than later to quell rising prices. Euro zone consumer prices rose 2.4 percent in January, well above the ECB's preferred two percent ceiling, data showed on Monday. And British inflation rose to 3.7 percent in December, almost twice the Bank of England's target. While the world economy has begun improving it is beset by problems such as high unemployment and rising prices which could fuel crippling trade protectionism or even lead to war within nations, the head of the International Monetary Fund warned on

Tuesday. Manufacturing activity in the euro zone accelerated in January, suggesting the sector is regaining momentum across the region, with the notable exception of battered Greece, while British growth was the fastest since records began in 1992. But in China, tighter policy began to bite, producing a bigger-than-expected slowdown in manufacturing growth, though the country's factories were still well into expansionary territory. China's official PMI fell to a five-month low in January, the China Federation of Logistics and Purchasing said but analysts warned the results were likely distorted by a closure of factories ahead of China's Lunar New Year. A separate PMI sponsored by HSBC pointed in the opposite direction, edging up in January and with a slight easing in input price inflation. Taken together, the two surveys painted a picture of sticky inflation and a moderate slowdown in the world's secondlargest economy after 10.3 percent growth last year, which was generating an inflation rate of 4.6 percent in December. "This will only reinforce the overriding theme of policy tightening to contain inflationary pressures," said Charlie Lay, economist at Forecast PTE in Singapore. So far, Chinese officials have moved tentatively on rates and the currency, and instead leaned heavily on administrative measures, raising banks' reserve requirements seven times since the start of last year and capping their lending, while also cracking down on property speculation.-Reuters

US mfg powers ahead in January NEW YORK: The US manufacturing sector grew at its fastest pace in nearly seven years in January, and signs of inflation jumped more than expected in the latest sign the economic recovery is gaining traction. The Institute for Supply Management's monthly manufacturing survey fits into a pattern of steadily improving data and comes ahead of Friday's closely watched U.S. payrolls report expected to show the U.S. economy added jobs for a fourth straight month. The ISM manufacturing index climbed to 60.8 in January, the highest reading since May 2004 and well above analysts expectations. A reading above 50 indicates expansion. The ISM's employment index reached its highest level since April 1973, although that wont necessarily equate to higher levels of hiring in the near term. "I still would caution that the employment number is more about the willingness to hire, rather than an increase in the absolute numbers," said Norbert Ore, chair of the ISM manufacturing business survey committee in Atlanta, Georgia. "At the end of the day it doesn't equate to a large number of jobs," he said. The prices paid component of the index jumped to 81.5 from 72.5 the prior month and coincided with signs of rising inflation around the globe as firms ramp up production. "It's a good number," said Gary Thayer, chief macroeconomic strategist at Wells Fargo Advisors in St. Louis, Missouri. "Manufacturing is outperforming other parts of the economy, but we're also seeing some inflationary seeds in costs rising.-Reuters

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Karkey has dedicated an impressive installed capacity of a total 330MW to Pakistan out of its worldwide fleet of power ship. The interconnection between Karkey and Karachi has been commissioned while the Alican Bey is being connected. Karkey has completed its test generation. She added Karkey power ship rental project is expected to allow the government of Pakistan to save up to Rs6 billion a year (saving of fuel transport cost and elimination of transmission losses as providing additional secure generation capacity to Karachi and subsequently to the rest of the country. Meanwhile, Federal Minister said the Diamir-Bhasha dam would be constructed within next seven years while 4500 megawatt power could be generated from the dam. During question hour in Senate, Raja Pervaiz Ashraf said that construction of Diamir Bhasha dam is biggest project in the history of the country and $11.2 billion would be spent on the project. He told the Senate that Asian Development Bank, Japan Bank, Islamic Bank and US Aid are cooperating in project of construction of Diamir Bhasha dam. He further said that 30000-acre land would be purchased for Diamir Dam; within next three years while Rs40.5 billion is needed for the land purchase. He told that the dam would have capacity of storing 8 million acre feet water and 4500-megawatt power could be generated. -Agencies

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International & Continuation

Wednesday, February 2, 2011

This week marks the peak for Japan's October-December results season with investors looking for signs of a sustained recovery for blue-chip firms. But Masayuki Kubota, a senior fund manager at Daiwa SB Investments, said although many companies have beat their own earnings estimates, this would not provide too much of a boost to index as their forecasts had been extremely conservative. "This quarter's results are neither good, nor bad -- that's why market volatility is going down," he said. The benchmark Nikkei ended the day up 0.4 per cent, or 36.58 points, at 10,274.50, after falling 1.2 per cent to a one-month closing low on Monday. The broader Topix advanced 0.4 per cent to 913.52. A total of 2 billion shares changed hands on the Tokyo Stock Exchange's main board, in line with last week's daily average volume at 1.9 billion. HONDA HIGHS Honda climbed 2 per cent to 3,545 yen to trade near 28-month highs after raising its outlook above expectations. A recovery in US profitability is putting it on track for its strongest earnings in three years.-Reuters

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package delivery group beat estimates and it forecast recordhigh earnings in 2011. Supporting the Nasdaq, Baidu shares gained 8.2 per cent to $117.48 after the copmany beat fourth-quarter estimates and painted a bright near-term outlook.-Reuters

Continued from page 5 US citizens are reminded of the potential for terrorists to attack No #8 public transportation systems and other tourist infrastructure. business surveys showed on Tuesday. Inflation has been a conExtremists have targeted and attacked subway and rail systems, cern for policymakers in most developing economies, including as well as aviation and maritime services. In the past several India, where rising food prices have driven up broader inflation years, these types of attacks have occurred in cities such as and put more pressure on central banks to tighten policy. Moscow, London, Madrid, and Glasgow, the alert said. -Agencies The 30-share BSE index dropped 305.54 points to 18,022.22, its lowest close since Aug 31. At one stage, the benchmark Continued from page 12 No #3 India has also developed its industrial base for manufacturing of dipped below 18,000 for the first time in five months after the pharmaceutical machinery and excipient which also decrease market had opened higher. Only three of its components ended higher. The index is down about 12 per cent this year, after manufacturing cost of medicines. -Agencies having risen 17 per cent in 2010, as worries about surging Continued from page 12 No #4 inflation in Asia's third-largest economy lead to withdrawals He further said if American courts are free then Pakistani courts are by overseas portfolio investors. Foreign funds were net sellers also free who will decide about the fate of Raymond Davis. -Agencies of $1.2 billion worth of shares last month until Jan. 28. Last year, inflows had hit a record $29.3 billion. Continued from page 5 No #5 Reliance Industries dropped 2.6 per cent to 895.65 rupees, its low(-ve 184 points). But some support at lower levels allowed it to recover and thus the session closed with some pared losses. Samar est close since July 2009, mainly due to a selloff by foreign funds. Iqbal, equity dealer at Topline Securities said that uncertainty in the The Economic Times reported on Tuesday a state auditor could margins of refinery and oil marketing companies continued to affect question the government approving the company's high capital local share prices. The OMCs and refinery sector was hard hit where expenditure to develop gasfields off the east coast of India.-Reuters PSO fell by Rs9.02, ATRL Rs4.98 and NRL by Rs4.26. However Continued from page 1 No #9 due to rising international crude oil prices renewed interest was seen in PPL and POL from local institutions. Both the stocks closed 1 per warned on Tuesday. "The pre-crisis pattern of global imbalances cent up despite the fact that the market was down by 0.70 per cent. is re-emerging," Dominique Strauss-Kahn said in a speech in Foreign investors remained on the buying side where according Singapore. "Growth in economies with large external deficits, like to NCCPL data they did a net-buying of $2.02 million on Tuesday. the US, is still being driven by domestic demand. And growth in On the local side, mutual funds, companies and individual economies with large external surpluses, like China and Germany, investors did a net-selling of $2.82, $1.27 and $1.02 million is still being powered by exports," he said. "As tensions between countries increase, we could see rising respectively while banks did a net buying of $2.08 million. Volumes however stayed on the higher side as 132.7 million protectionism of trade and of finance. And as tensions within shares traded during the day which is 11.4 million shares more as countries increase, we could see rising social and political instability within nations even war." Rising food and fuel prices in compared to a turnover of 121.3 million shares on Monday. Lotte Pakistan stood as the volume leader with 18.44 million recent months have already hit poorer countries especially hard shares followed by Pakistan Telecommunication with 7.89 million and are one of the factors behind massive anti-government protests in Egypt and in Tunisia, whose president was ousted last shares and Azgard Nine with 7.75 million shares. Out of total 394 active issues 263 declined and 108 advanced month. Concerns about rising debt in developed countries, meanwhile, have increased in recent months, with Standard & Poor's while 23 issues remained unchanged. last week cutting Japan's credit rating and Moody's warning it Continued from page 5 No #6 may place a negative outlook on the United States. Leasing giant Orix Corp also made robust gains after earnings. In Asia, the worries centre around inflation and analysts say

Jobs, prices could spark war within nations: IMF SINGAPORE: The world economy is beset by problems such as high unemployment and rising prices which could fuel trade protectionism and even lead to war within nations, the head of the International Monetary Fund warned on Tuesday. Rising food and fuel prices in recent months have already hit poorer countries and are one of the factors behind massive antigovernment protests in Egypt and in Tunisia, whose president was ousted last month. "As tensions between countries increase, we could see rising protectionism -- of trade and of finance. And as tensions within countries increase, we could see rising social and political insta-

bility within nations - even war," Dominique Strauss-Kahn said in a speech in Singapore. Strauss-Kahn noted two "dangerous" imbalances that he said could sow the seeds of the next crisis. The first was the unbalanced recovery across countries, as emerging nations grow much faster than developed economies and possibly overheat. The second was the social strains within countries with high unemployment and widening income gaps. Over the next decade, 400 million young people would join the global labour force, posing a daunting challenge for governments, Strauss-Kahn added. "We face the prospect of a 'lost

generation' of young people, destined to suffer their whole lives from worse unemployment and social conditions. Creating jobs must be a top priority not only in the advanced economies, but also in many poorer countries." Unemployment stands at 9.4 percent in the United States while European countries are struggling to create jobs. Despite high joblessness in the wake of the 2008 global credit crisis, trade barriers have not reached levels feared by many analysts. Instead, a number of countries, most prominently China according to its critics, have sought to keep their currencies undervalued to keep exports humming.-Reuters

central banks in countries such as Indonesia need to respond faster to contain rising prices. Strauss-Kahn also said foreign exchange rate adjustments have an important role to play in addressing global economic imbalances and should not be resisted. "Holding back such adjustment in one country also makes it harder, and more costly, for other countries to let their exchange rate adjust," he said. "For this adjustment to take place, time is of the essence, but asking for time only makes sense if there is a significant and regular move in the right direction." -Reuters

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a Reformed General Sales Tax (RGST), under the terms of an $11 billion IMF bailout package to avert a balance of payments crisis. But Prime Minister Gilani's government last month deferred plans to implement reforms and reversed an increase in fuel prices to appease opposition parties and defuse a political crisis. A senior IMF official said the Fund supported the government's efforts to win political support for economic reforms. But he said the government needed to take "urgent" measures to check rising inflation -- which hit 15.46 percent in December -- by cutting its budget deficit. The government should cut subsidies to reduce spending and raise revenues by implementing tax reforms, he added. The seven-tranche IMF programme has kept the US ally's fragile economy afloat. Islamabad in December asked the IMF for a nine-month extension, ending in September, to give it more time to implement reforms. International financial support is crucial for Pakistan, especially after devastating summer floods which inflicted $10 billion in losses. Pakistan is also waging a costly war against Taliban insurgents and needs to invest heavily in the energy industry to ease frustrations over power cuts. The government is now holding talks with the main opposition party led by Nawaz Sharif in an effort to strike a consensus to implement reforms.

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power tariff is much less as compared to its cost production resulting accumulation of circular debt. He urged all the parties to cooperate with the government to rationalise and resolve the issue on permanent basis in the larger interest of the nation. The minister said the government injected Rs90 billion to cope up with the circular debt in 2009. He said the government is following multipronged strategy including injecting money and doing away from the subsidies to address the issue. The minister said circular debt is also affecting Pakistan State Oil (PSO) financially and the company debt has reached Rs145 billion. Out of this amount, Rs131 billion is outstanding against power sector, he added. He said PSO also owed Rs85 billion to various refineries. -APP

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impacts upon foreign investment in the country rather they wanted a transparency in such contracts. He said that foreign investment companies would feel more secured in the country in the presence of an independent judiciary. He made these observations during hearing of case related to award of a contract of gold and copper mines in Rekodiq, Chaghi Balochistan. He further said that the Rekodiq contract was signed when a caretaker government was in place. He said the Balochistan government had not conducted proper study of the feasibility report. The bench observed that Tethyan Copper Company had foreign experts which the provincial government lacked. It said that it did not mean that country lacked talented people but the department concerned lacked such people. -Agencies

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crowd was jammed in shoulder to shoulder - schoolteachers, farmers, unemployed university graduates, women in conservative headscarves and women in high heels, men in suits and working-class men in scuffed shoes.They sang nationalist songs and chanted the anti-Mubarak "Leave! Leave! Leave!" as military helicopters buzzed overhead. Organizers said the aim was to intensify marches to get the president out of power by Friday, and similar demonstrations erupted in at least five other cities around Egypt.-Agencies

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supply of 1 lac ton from the open market on 7th March. At the same time the concerned Economic Affairs Division is engaged in talks with Saudi Arabian Basic Industrial Corporation for the timely supply of the urea. Earlier the committee was informed by the Federal Minister for Food and Agriculture, Nazar Mohammad Gondal about the urgency of the requirement of the urea for the current Rabi crop. He said that the prices are escalating in the open market due to the shortage of the same, and if the demand is not met before the sowing of the crop, it will have negative effects on the overall Rabi crop and on economy.-Online

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Minister Abdul Ghafoor said. A Karachi-based trader, Javed Thara, confirmed deals with the Punjab government and said traders had also bought some 600,000 tonnes from Sindh, the secondlargest wheat producer. "Traders have signed export deals with foreign buyers for up to 700,000 tonnes, out of which some 40,000 tonnes have already been shipped out," Thara said. He expected some 100,000 tonnes of wheat to be shipped this week to Bangladesh and some Middle Eastern countries including Jordan. Johar Ali Qandhari, a wheat trader and chairman of the Korangi Association of Trade and Industry, said that Pakistan had recently sold wheat in the international market at prices ranging between $333 and $338 a ton FOB (freight on board). -Reuters

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had requested the Nepra to increase its power tariff by Rs1.1 per unit however, Nepra approved a raise of 96-paisa per unit. Nepra Chairman Khalid Saeed granted the approval at meeting. On this occasion, Nepra member Maqbool Khwaja raised serious concerns about the KESC reluctance to generate electricity through furnace oil. He said that KESC is bound to comply with the instructions of Nepra. "If KESC does not abide by the Nepra directives, it will be served a show-cause notice," he warned.He said National Transmission and Dispatch Company (NTDC) is supplying 600 megawatts of electricity to KESC, leading to prolong power cuts in other parts of the country. -Online

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whether he has or not the diplomatic immunity," ruled Lahore high court Chief Justice Ejaz Ahmed Chaudhry. The federal government, he said, has no authority to grant diplomatic immunity to the American national.Meanwhile, Deputy Attorney General sought more time from the court to submit response on behalf of the Foreign Office. -NNI

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Pakistani nationals are evacuated from Egypt, who may be feeling insecure in the given circumstances in Egypt and wishes to return home. Accordingly around 200 Pakistan nationals are likely to be airlifted from Egypt to Pakistan through PIA's special flight soon. -APP

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Tunisia and Egypt - calling for the resignation of Prime Minister Samir Rifai, who is blamed for a rise in fuel and food prices and slowed political reforms.A Royal Palace statement said Abdullah accepted Rifai's resignation tendered earlier Tuesday. The king named Marouf al-Bakhit as his prime minister-designate, instructing him to "undertake quick and tangible steps for real political reforms, which reflect our vision for comprehensive modernization and development in Jordan," the palace statement said. Al-Bakhit previously served as Jordan's premier from 2005-2007. The King also stressed that economic reform was a "necessity to provide a better life for our people, but we won't be able to attain that without real political reforms, which must increase popular participation in the decision-making."-Agencies

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much difficult and the technology required is more expensive. The exploration companies do not opt for exploration until given additional insensitive. Six new incentives were proposed to attract companies. It was mentioned that even after giving additional incentives the cost of gas available will be less than the gas imported. It is estimated that cost of tight gas will be $6.5 BTU, compared to imported gas i.e. $12.3 BTU. The Council of Common Interest deferred the issue of privatization of three electricity generation companies (GENCOS) and eight electricity distribution companies (DISCOS) till the next CCI meeting. Addressing the meeting of CCI Prime Minister Gilani said that government strongly believes in provincial autonomy and participative management both by the Federation and the provinces and we have amply demonstrated this through our actions. Prime Minister said expenses on war against terror, rising prices of oil in the international market and the recent floods in the country have adversely affected finances of the federation as a result of which the government had to scale down its development activities.

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New Delhi declines our offer of probe: Malik

Pakistan says wonâ&#x20AC;&#x2122;t take fall of Mumbai case ISLAMABAD: Interior minister Rehman Malik said if Mumbai attack case is weakened and fail to reach any solid conclusion then Pakistani would not be held responsible for it. "Pakistan has sought permission from Indian to allow Pakistani judicial commission to visit India but the latter has not yielded positive response on this count. We want probe into Mumbai incident is finalised as soon as possible. However if Mumbai ISLAMABAD: Minister for attack case gets weaker then Pakistani Religious Affairs Syed Khursheed Shah said Tuesday that efforts were on to curtail Hajj expenses from Rs 236,000 to Rs 200,000 per pilgrim, under the government scheme for the Hajj 2011. ISLAMABAD: Federal minister for "Keeping in view the difficul- water and power, Raja Pervaiz Ashraf ties of the previous years, we has congratulated arrival of the 2nd have decided to take a number Turkish powership and said that the of steps," he said replying to a projects will contribute to the power supplementary question in the generation in Karachi and help to Senate during the Question- reduce the power shortage. Hour session. He said this while talking to a Sharing the details, he said Turkish delegation of Karkey applications would be sought Karadeniz powership along with by April 10, this year from the Turkish Ambassador to Pakistan who intending pilgrims and the called on the federal minister for water whole process would be and Power here in his office. finalised by the end of that The Minister said that the powership month. will not only stable the supply to The minister said services of Karachi even save fuel transport cost those Pakistanis, who are and transmission losses. already in Saudi Arabia, would He said that Pepco has been asked to be hired as Khuddam-e-Hujjaj complete the procedural connectivity and their numbers would be increased from 400 to 800. "Previously Khuddam were paid 70 Saudi riyals for their services but now they will get 100 riyals. We have formed a committee to conduct interviews from those Pakistanis," he said. He said to resolve transportation problems of Hujjaj the services of Urdu speaking drivers would be hired. He said with an aim to relieve the PIA from extra burden, talks would also be initiated with other Airlines to airlift the pilgrims. The minister said that the overall operation of Hajj 2010 remained satisfactory however some difficulties were faced by the Hujjaj of five Makatib due to incomplete setup and general amenities. Ministry is in the process of reviewing the whole system for making the entire process transparent and pilgrim-friendly, he said. -APP

ISLAMABAD: President Asif Zardari during a meeting with Commander Royal Brunei Armed Forces Maj General Haji Aminudding Ihsan Bin Pehin ORang Kaya Saiful Mulak Dato Seri Paduka Haji Abidin, who called on him at President House.-Online

Be vigilant in India, Pak: State Dept

US tourists told to stay on toes WASHINGTON: The US on Tuesday issued a global travel alert for its citizens in view of the increasing threat from terrorist organisations like al Qaeda and Taliban and urged them avoid countries like India and Pakistan. In its latest travel alert titled "worldwide caution", the State Department expressed concern over continued threat of terrorist attacks, demonstrations and other violent actions against US citizens and interests overseas including India and Pakistan. "In India, there is a continuing threat of terrorism as attacks have randomly targeted public places frequented by Westerners, including luxury and other hotels, trains, train stations, markets, cinemas, mosques, and restaurants in large urban areas," the travel alert said. "Examples of potential attacks in South Asian states include Pakistan, where a number of extremist groups continue to target US and other Western citizens and interests, and Pakistani government officials and military/ law enforcement personnel," it said. "Suicide bombing attacks continue to

occur throughout the country on a regular basis, often targeting government authorities such as police checkpoints and military installations, as well as public areas such as mosques, and shopping areas," the alert said. The State Department said that current information suggests that al Qaeda and affiliated organisations continue to plan terrorist attacks against US interests in multiple regions, including Europe, Asia, Africa, and the Middle East. These attacks may employ a wide variety of tactics including suicide operations, assassinations, kidnappings, hijackings, and bombings. "Extremists may elect to use conventional or non-conventional weapons, and target both official and private interests. Examples of such targets include high-profile sporting events, residential areas, business offices, hotels, clubs, restaurants, places of worship, schools, public areas, and locales where US citizens gather in large numbers, including during holidays," it said. See # 2, Page 11

MNAs raise concern over electricity, gas cuts

Uproar in House over power crisis ISLAMABAD: Member of opposition and treasury benches raised hues and cries against the load-shedding of gas and electricity all over the country, and said the load-shedding is causing industries to close down and is raining unemployment. Members have said that country is facing the issue of unemployment, and unemployment would spur extremism. The situation is moving toward the bloody revolution in the country. It is being said in NA session that, the load-shading of gas and power causing the closure of industries. PML-N Abid Sher Ali speaking on a point of order said that Faisalabad Industry would remain closed for a week and gas load-shedding is continues in this regard. Bad behavior with Punjab is troubling people, which should end now, and load-shedding of gas should be on equal basis in all

provinces. More than 360 factories have closed in KP due to the existing wave of terrorism, and our factories owners are moving to Bangladesh, said Aftab Sherpao. Engineer Shaukatullah has said same situation could be seen in Karachi and Fata, factories closures are causing raise in unemployment and government should think seriously in this regard. Fata Parliamentary leader Muneer Khan Orakzai said the resolution regarding Fata has passed in NA session but unfortunately even one section could not be implemented practically and government should brief over it. MQM member Khwaja Sohail Mansoor said people are in financial trouble as KESC raised 96-paisa per unit and industry is going to closeddown and government should take KESC in its own custody. -Online

Rationalising medicines' prices

Drugs Pricing Policy finalised ISLAMABAD: The Drugs Pricing Policy Board constituted by the Ministry of Health has finalised "Drugs Pricing Policy-2011" for approval from the competent authority to rationalise medicines' prices in the country. According to ministry of health, prices of medicines are regulated by the Federal Government under Section 12 of the Drugs Act, 1976. The Drugs Pricing Policy Board comprising experts from World Health Organization (WHO), Ministry of Industries and Production, Ministry of Finance Ministry of Commerce, Ministry of Health as well as representatives from the Pharmaceuticals Industry and Consumer Organization was formulated by the Ministry. The said Board formulated a Drugs Pricing Policy-2011 at par with the neighboring countries adopting latest approaches for rationalisation of prices of drugs in the country. After approval of the policy by the

appropriate authority, prices of drugs will be rationalised in accordance there of. According to the Ministry, since April 2004 uniform prices of drugs are fixed at an average of the prices prevailing in the Saarc countries. In case the drug is not available in the Saarc countries, international prices (Particularly United Kingdom, Australia /New Zealand) are considered. Prices as mentioned in the proforma invoice for imported drugs and costing data for locally manufactured drugs are also considered for new chemical entities besides other parameters. However, prices of drugs marketed by local companies in India are generally lower than prices of drugs marketed by local companies in Pakistan due to raw materials for most commonly used medicines are produced in India whereas in Pakistan share of locally produced raw materials is less than 10 per cent. See # 3, Page 11

Govt to cut hajj expenses, Shah assures

prosecutors be not held responsible in this connection", Interior minister said this while talking to media men here Tuesday outside parliament house. Steps were being taken on priority basis to bring normalcy in Karachi, he said, adding future strategy has been devised to end target killings. Federation would extend full cooperation in this matter, he stated. He went on to say no amendment was being introduced in blasphemy law. President Asif Ali Zardari and

Prime Minister Gilani had clarified this matter repeatedly. Government did not constitute any committee under Shahbaz Bhatti, he added. Responding to a question he said US citizen Raymond Davis case was subjudice. Court would decide about his fate, he added. No immunity was being granted to US citizen, he told. He underlined that Pakistan wanted elimination of non-state actors and would continue to play its responsible role for peace in the region. -Online

Bhasha Dam to be completed in next 7yr: Ashraf

2nd Turk powership arrives requirements at earliest so that the ship many start generation within two weeks. He said that the powership will further strengthened the brotherly relations between the two countries, and it is the symbol of friendship and brotherhood. He said that the Turkish investors will be facilitated in all respect and their investment will be protected. Turkish Ambassador while talking to the Minister said Turkish president, the government and its people are eagerly waiting for the supply of electricity from the ship to the people of Karachi. He said that the Turkish government is fully supporting the investment and hoped that it will give relief to the power consumers. Earlier, the Director of Karkey

Karadeniz powership, Nuray ATACIK briefed the minister on the project and current status and said that the additional capacity would be instrumental to meet the needs of industrial sector and manufacturing units of Karachi in case of any shortfall in the coming summer. First powership of 220MW had arrived Karachi on November 17, 2010, recently the second powership Alican Bey of 110MW has also reached Karachi that would ensure additional capacity to the project under Power of Friendship, power of Brotherhood project and in demonstration of solidarity of Turkish investors with their brothers in Pakistan, See # 1, Page 11

Davis to face music: Kaira ISLAMABAD: Federal Information Minister Qamar Zaman Kaira assured National Assembly that American citizen Raymond Davis will have to face the music as he has violated Pakistan law. He said federal government is standing aside with Punjab government on this issue. National Assembly session held in parliament house on Tuesday where issue pertaining to Raymond Davis remained in discussion. PML-N's central leader Khwaja Saad Rafique, on a point of order said Lahore incident where an American killed three Pakistanis is regretful. Khwaja Saad said though American's stance stands, but he killed Pakistanis and it is on record that Raymond Davis is not the real name of the convict. He said actual identity of Raymond Davis is continuously being tried to put in hiding. He told parliament it has come into notice that Raymond Davis was working on a contract secret mission in US Consulate in Lahore. He said federal government has been adopting double policy and now is talking to provide indemnity to Raymond Davis. He said let the courts decide about his fate and central government must support provincial government. See # 4, Page 11

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