The Financial Daily-Epaper-10-01-2011

International Karachi, Monday, January 10, 2011, Safar-ul-Muzaffar 5, Price Rs12 Pages 12

Taseer’s murder

Shahbaz urges to set up Judicial Commission Economic Indicators Forex Reserves (1-Jan-11) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Oct 10)

GDP Growth FY10E Per Capita Income FY10 Population

$17.20bn 14.44% $8.88bn $15.37bn $(6.49)bn $(504)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5348.6bn $287.9mn -2.81% 4.10% $1,051 171.48mn

Portfolio Investment SCRA(U.S $ in million)

158.27 -37.13 -0.40 2900

Yearly(Jul, 2010 up to 7-Jan-2011) Monthly(Dec, 2010 up to-7-Jan-2011) Daily (7-Jan-2011)

UBL (1 GDR= 4 Shares) 2.00 LUCK (1 GDR= 4 Shares) 1.70 HUBC (1 GDR= 25 Shares) 11.07

42.82 36.39 37.92

Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)

29-Dec-2010 29-Dec-2010 29-Dec-2010 29-Nov-2010 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011

13.20% 13.41% 13.73% 14.00% 13.22% 13.47% 13.65% 14.01% 14.15% 14.23% 14.24% 14.26% 14.59% 14.77% 14.96%

Commodities Crude Oil (brent)$/bbl 93.33 Crude Oil (WTI)$/bbl 88.03 Cotton $/lb 140.60 Gold $/ozs 1,368.90 Silver $/ozs 28.67 Malaysian Palm $ 1,224 GOLD (NCEL) PKR 37,817 KHI Cotton 40Kg PKR 10,503

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 84.30 Canadian $ 85.10 Danish Krone 15.00 Euro 111.20 Hong Kong $ 10.40 Japanese Yen 1.015 Saudi Riyal 22.67 Singapore $ 65.4 Swedish Korona 12.00 Swiss Franc 86.50 U.A.E Dirham 22.97 UK Pound 132.1 US $ 85.65

Sell (Rs)

85.30 86.10 15.10 113.40 10.50 1.041 22.83 66.40 12.70 86.70 23.38 133.90 85.95

Inter-Bank Currency Rates Symbols

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

Buying

Selling

TT Clean

TT & OD

85.28 86.19 14.83 110.52 11.01 1.030 22.83 66.13 12.35 88.48 23.31 133.15 85.63

85.48 86.39 14.86 110.78 11.04 1.033 22.88 66.29 12.38 88.69 23.36 133.46 85.82

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

15°C 27°C 08°C 10°C 12°C 15°C

MIN

02°C 08°C 03°C 06°C -08°C 04°C

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Pakistan thrash Kiwis by 10 wickets

See on Page 12

Iran says can make its own nuclear fuel

See on Page 12

PM phones Sharif, assures adoption of 10 points

Govt embraces PML-N agenda PM calls Altaf, Shujaat, Pagara, takes them into confidence Dar to head 3-member body to oversee implementation Special Correspondent/ Agencies

MQM hails Gilani decision

ISLAMABAD: The government has finally accepted the NCCPL (U.S $ in million) 10-point agenda of Pakistan FIPI (7-Jan-2011) 3.69 Muslim League Nawaz (PMLLocal Companies (7-Jan-2011) 4.28 N) to steer the country out of Banks / DFI (7-Jan-2011) 0.06 economic and political turmoil.

Mutual Funds (7-Jan-2011) -6.77 Prime Minister Syed Yousuf NBFC (7-Jan-2011) -0.26 Raza Gilani on Sunday teleLocal Investors (7-Jan-2011) -0.96 phoned PML-N chief Mian Other Organization (7-Jan-2011) -0.05 Nawaz Sharif and replied in Global Indices affirmative to a series of Index Close Change demands, PM House said.

KSE 100 12,389.04 65.57 The deadline was going to Nikkei 225 10,541.04 11.28 expire Monday 06:00 pm.

Hang Seng 23,686.63 99.67 The government statement Sensex 30 19,691.81 492.93 said the PM exchanged views ADX 2,752.33 4.47 over PML-N agenda and SSE COMP. 2,838.80 14.60 FTSE 100 5,984.33 35.18 expressed his positive reaction Dow Jones 11,674.76 22.55 towards the list of demands.

Sharif appreciated the gesture GDR update $.Price PKR/Shares by Prime Minister Gilani Symbols 111.32 terming it political maturity. He MCB (1 GDR= 2 Shares) 2.60 OGDC (1 GDR= 10 Shares) 23.55 201.66 added that all political forces Total Portfolio Invest (31 Dec-2010)

Thousands protest over blasphemy law change See on Page 12

KARACHI: Muttahida Qaumi Movement (MQM) Sunday welcomed Pakistan Muslim League-N's withdrawal of ultimatum given to the government, media reported.

Speaking to MQM party leaders and journalists on the telephone from London, Dr Farooq Sattar also hailed Prime Minister's acceptance of ten-point national agenda proposed by Nawaz Sharif. Sattar said the Prime Minister decision will certainly take the country our of prevailing crisis. have realised that being on the day ultimatum to implement same page is better for the the agenda.

Talking to the mediamen on country.

A three-member committee Sunday, PML-N spokesman, to be headed by Senator Ishaq Siddique-al-Farooq said the Dar would contact the govern- three-day deadline ended today; ment in this regard, the state- however, the PM has yet to implement the agenda in 45 days. ment said.

About Latif Khosa's appointSharif has given 3-days to the government to give a clear-cut ment as Governor Punjab, he said reply on a list of demands, the PM did not take his faction in including reversing the fuel confidence over the decision.

Meanwhile, PML-N price hikes, reducing government expenditures and remov- spokesman Ahsan Iqbal while ing party officials allegedly talking to a private news TV, involved in corruption, and 45See # 7 Page 11

5M net investment reaches Rs66.5bn

NSS deposits up 19pc YoY in Nov Aamir Abidi KARACHI: Investment in National Saving Schemes (NSS) saw a jump of 19.1 per cent YoY with an inflow of Rs11.74 billion during November 2010 versus Rs9.88 billion investment in November 2009.

However, net investment in the fiscal year 2010-11 down by 32.4 per cent to record at Rs66.49 billion in 5MFY11 against Rs98.37 billion

attracted in same period last year.

Interest in national saving gradually declined mainly due to the reason that government was not offering attractive rate, and other avenues of investments were also available for investors i.e.

Engro Rupiya, as per the TFD analyst.

However, NSS rate increased in January 2011 would attract fresh investments.

See # 8 Page 11

KSE during last week

Offshorers stock $11.9mn shares Local individuals eject $15mn Ghulam Raja Rajani KARACHI: With the growing confidence of offshore investors and new allocation of fund from abroad, $11.9 million worth of net portfolio investment was seen in Pakistan equity market in the first week of New Year, as per the National Clearing Company of Pakistan Limited (NCCPL) data.

During the week, foreign investors remained

on the buying side as they bought shares worth $22.69 million and sold share valuing $10.8 million.

Furthermore, biggest buying was seen from banks which bought shares worth $22.3 million. Similarly, other organisations and NBFC remained on the buying side with shares worth $2.60 million and $0.27 million.

On the other hand, See # 11 Page 11

Railways settles uplift priorities I S L A M A B A D : Following a bailout package of Rs1.1 billion announced by the federal government, the crisis-hit Pakistan Railways was finalising its priorities including maintenance of 145 locomotives and rehabilitation of rail tracks and coaches.

A meeting in this regard would be held by midJanuary between Minister for Railways and Minister for Finance in which the former would brief the latter about projects to be exe-

cuted after release of funds.

"We have planed to spend Rs 6.1 billion on maintenance of 145 locomotives, Rs 2 billion each on rehabilitation of tracks and coaches while Rs one billion would be reserved for future use," Minister for Railways Haji Ghulam Ahmed Bilour told APP. After their maintenance, 75 per cent of locomotives would be used for freight carrying and the rest would be used for passenger coaches.

See # 3 Page 11

Iranian jet crashes with 156 on board TEHRAN: An Iranian passenger jet with at least 105 people on board crashed in bad weather on Sunday near the northwestern city of Urumiyeh, Iranian media said.

The semi-official Fars news agency said there were 105 people on board, but state TV put the number at 156. -Reuters

No gas for Isb, Punjab CNG pumps I S L A M A B A D : Managing Director (MD) Sui Northern Gas Company Rasheed Loon has said that gas supply to factories in Lahore region, Punjab and Islamabad CNG stations has stopped for an indefinite period.

In a brief telephonic interview with a private TV channel, he informed that the intense winter had witnessed multiplication in demand of gas consumption.

See # 9 Page 11

‘Q’ urges govt to adopt China model ISLAMABAD: Pakistan Muslim League-Q leader, and Chairman of Pak, China Institute, Mushahid Hussain Sayed Sunday urged the Pakistan government to follow the Chinese model of poverty alleviation as China has lifted around 400 million people out of poverty within a generation time.

He was addressing a unique gathering of around 400 youth from China and Pakistan assembled on the occasion of Pak, China Cultural Show held here at Pakistan, See # 12 Page 11

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing a Press Conference at PM House here on Sunday.-APP

PM House official confirms the appointment

Khosa, almost Governor Punjab Monitoring Desk KARACHI: The government has finally decided to appoint Latif Khosa to succeed the murdered governor of Punjab province Salma Taseer, media reported.

Khosa has been appointed as

Punjab governor," an official in Prime Minister House confirmed.

The decision was taken after Khosa held two-hour long meeting with PM Syed Yousuf Raza Gilani here in the capital on Sunday. Khosa has assured the PM of not repeating his past

mistakes, sources said.

He had also been called on President Zardari in Karachi for a decision to succeed Salman Taseer, the outspoken governor of Punjab, who was gunned down by one of his bodyguards in Islamabad on Tuesday for See # 6 Page 11

2

Friday, January 7, 2011

Swiss co to sow $30m in Pak agro-ventures I S L A M A B A D : Prominent international industrialist and investor, Baron Lorne ThyssenBornemisza, Chairman of Swiss-German private investment group Augustus would inaugurate agroventure industry in Faisalabad on Monday (today).

During his 2-day visit,

Baron would announce a further $30 million investment in value-added grain processing in Punjab, with Agroventures founder Aamer A Sarfraz.

Baron Thyssen is committed to investing in Pakistan's agribusiness sector and will meet senior government and private sector individuals to dis-

cuss Pakistan's agribusiness potential.

Prior to this Baron Thyssen also visited Pakistan in 2009 and expressed his desire to invest in food and agribusiness in Pakistan, especially in value-added projects to benefit the farmers of the country.

On the occasion he stat-

BISP donees to get life insurnace ISLAMABAD: One million registered beneficiaries of Benazir Income Support Program (BISP) who have lost their bread earners are being given compensation of Rs100,000 under Life Insurance scheme.

Talking to APP, Chairperson BISP Farzana Raja said the programme is expediting its efforts for social and economic empowerment of deserving women being identified through its nationwide poverty survey.

The programme would reach five million families under the survey being simultaneously conducted in Punjab, Sindh and Khyber-Pakhtunkhwa and will be completed by June this year. However, the survey has already been completed in compliance with Aghaz-e-Haqooq-eBalochistan in the province.

Farzana said that the survey would enable regis-

tered families to get benefit from monthly cash grant, vocational training, returnable loans under Waseela-e-Haq and Life Insurance.

Moreover, Health Insurance facilities would be offered soon to registered beneficiaries, she added. The Chairperson said "Pakistan People's Party (PPP)' manifesto largely speaks of the social and economic empowerment of the women and the programme is benefitting over three million families in the country."

BISP has launched an improved delivery system through Mobile Phone Banking and around 150,000 beneficiaries in Musakhel, Layyah, Batgram and Larkana are being provided free mobiles in the first phase.

By using Mobile Phone Banking facility, the beneficiaries will be able to receive their cash grant in

most convenient and transparent way.

The transparency and facilitation of the beneficiaries is the priority of the programme and the whole system is established on modern technology, she said.

She said BISP is not a political programme and it is working for the well being of the downtrodden segments of the society.

International aid agencies are quite appreciative of this programme as it is proving to be a comprehensive welfare mechanism for the poor people.

Farzana urged the people to support the survey teams for successful completion of the poverty survey so that people in need can be reached out and given their right at their doorstep, thus, it would be a help in achieving BISP's objective of making the country a welfare state. -APP

ed that Pakistan has huge potential of becoming major player in valueadded agribusiness globally.

Michael Solomon, Director, Augustus, Hamid Jourabchi, CEO, Augustus, and Ali Erfan, Director, Augustus Ltd would also accompany him. -APP

Audit in Sindh Info dept urged KARACHI: Provincial Advisor to Chief Minister Sindh on information Sharmila Faruqui has ordered audit in advertisement section of Sindh Information Department for year 21009 and 2010.

The purpose of the audit is to eradicate corruption and implement transparency in the department.

In a statement Sharmila said that advertisement section was being computerised and ROs were being displayed on computer in order to end corruption in the department.

She added that she was making her efforts to maintain close and good working relationship between media and Sindh Information Department and it was at that time possible when there was a relation of confidence between them.-NNI

TV PROGRAMMES MONDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:10 The Reema Show (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 Tafteesh (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24

MONDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 (Rpt) 18:05 19:00 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00

Programmes Amnay Samnay (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Agenda 360 (Sat Rpt) News Akhri Sauda Munafa Khor Hoshiyar (Rpt) Karobari Dunya Ghar Ka Kharch Chai Time News Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Agenda 360 (Sun Rpt) News

KARACHI: A group photograph of Sindh Assembly Speaker Nisar Ahmed Khuhro with Director General Inter Services Public Relations (ISPR) Major General Athar Abbas during launching ceremony of drama series “Faseel-e-Jaan Se Aagay” based on true stories of brave Pakistanis at a hotel. The drama series joint production of ISPR and CRS, a production house.-APP

'Pak-China friendship Year ‘

Action plan for 2011 chalked out ISLAMABAD: A comprehensive action plan to celebrate Pakistan-China Friendship year 2011 has been chalked out, focusing on wider interaction between the two countries' leadership and people through joint activities and exchanges.

The rich array of 69 events in diplomatic, cultural and educational areas spans the entire year with an average of five events a month and as many as 14 in May and 12 in November.

The year 2011 was declared as the 'Pak-China Friendship Year' during the recent visit of Chinese Premier Wen Jiabao to Pakistan, wherein the two governments decided to celebrate 60th anniversary of the establishment of Sino-Pak diplomatic relations with full fervor.

JANUARY-MARCH: Salient events in the year's first quarter include holding a forum on Pak-China people-to-people friendship', Chinese Spring Festival on January 27-31, special business forum and

nation-wide essay writing competition on Pak-China friendship for school and college students.

Pakistani officials will visit China to participate in Western China International Fair, Urumqi Fair and Kashghar International Fair, while a 100-member Chinese youth delegation is already in Pakistan.

A delegation of Pakistan's print and electronic media will visit China in February while women parliamentarians' visit will take place in March. A delegation of Chinese People's Institute of Foreign Affairs Delegation will visit Pakistan in March.

Pakistan Broadcasting Corporation will organize a special ceremony for airing China Radio International FM programme in Pakistan, whereas Pakistan Television will hold weekly Chinese language classes from March onwards.

APRIL-JUNE: Besides a leadership level visit from

Pakistan to China, the plan's second quarter holds a significant chunk for sports that comprises friendly matches by the cricket teams of Pakistan and China in Islamabad and Lahore, visit of Pakistan's women cricket team to China and a PakChina Friendship Golf Tournament in April Pak-China Business Summit will also be held in the same month. The cultural activities include a painting and photographic exhibition at Pak-China Friendship Centre along with performances by Chinese arts troupe.

Pakistani performing arts troupe will also visit China in May. Commemorative stamps and a coin will be issued while a book on Pak-China relations will be launched in May. The Pak-China mountaineering expedition will head to Korakoram heights in June.

J U LY- S E P T E M B E R : The two countries will undergo military-to-military exchanges and friendship exercises in August.APP

KARACHI: Speaker Sri Lankan Parliament Chamal Rajapaksa along with a delegation in a group photo with Deputy Speaker Sindh Assembly Shehla Raza upon his arrival at airport.-APP

Fog disrupts life in KP, Punjab ISLAMABAD: The cold wave in country is still persisting engulfing Khyber-Pakhtunkhwa, Punjab and lower areas of Sindh.

Dense fog with cold weather ruined the routine life in Khyber Pakhtunkhwa besides cutting the air routes of the provincial capital to down countries; creating problems for people want their in-land and journeys abroad.

The concerned authorities also announced closure of Peshawar-Islamabad motorway to ensure safety to commuters.

Due to unfavorable conditions the air routes were also disrupted and the Peshawar International Airport closed down by the authorities concerned added to the miseries of the people.

This freak weather, which has a prediction for dry and cold weather phenomena, has forced the temporary closure of Peshawar-Burhan motorway interchange; while fog is gradually easing from Lahore and rest of Southern Punjab.

Chhipa distributes blankets to IDPs KARACHI: The Chhipa Welfare Association's (CWA) patron-in-chief "Ramzan Chhipa" has distributed blankets among the flood evacuees presently dwelling in relief camps located on Super Highway. He covered children and elders with the blankets who had been shivering from the freezing wind and temperature under open sky.

According to a press release, he had been at the IDPs' camp to witness the situation there and while he did, he was prompted to address the situation on priority.

He enquired the IDPs about their problems and assured them that he would play his role to get their problems resolved at the shortest possible time.

During his talks with officials concerned who have been deputed to look after the IDPs, he said that even though the floodwaters had almost vanished but the IDPs are still in

dilapidated conditions, which need immediate redressal.

He said that the winter was at its apex, which has deepened the agony of the IDPs. Henceforth, it was need of the hour that the civil society, the government and the philanthropists should join hands to address their problems.

He said he has been in contact with the IDPs and it has been a week since when the IDPs had demanded necessary goods to keep warm. The "CWA" has resorted to quick arrangements despite ongoing financial crisis for the sake of humanity.

"He appealed to the civil society, philanthropists that they should contribute for the welfare of the homeless IDPs on humanitarian basis." He reminded that the IDPs had been hit by the unprecedented calamity and they had lost their homes and assets in floods. -Online

OFFICE OF THE PROJECT DIRECTOR, VACCINE PRODUCTION UNIT SINDH TANDO JAM TELEPHONE # 0229239323. 0229239324

AUCTION NOTICE It is informed that auction of surplus animals of Vaccine Production Unit, Sindh Tando Jam will be conducted at the place and time shown below. All interested person are invited to participate in the auction.

Sr. Kind of Animal Place of auction

Date

Time of

1.

Buffalo

Vaccine Production Unit, Pir Zamain Shah Road, Sindh, Tando Jam

25-01-2011 11-00 A.M.

2.

Cattle.

Vaccine Production Unit, Pir Zamain Shah Road, Sindh, Tando Jam

25-01-2011 11-00 A.M.

3.

Sheep & Goat.

Vaccine Production Unit, Pir Zamain Shah Road, Sindh, Tando Jam

25-01-2011 11-00 A.M.

Further information can be obtained from following places during office hours.

1. Directorate of Veterinary Research & Diagnosis, Central Veterinary Diagnositc Laboratory, Pir Zamain Shah Road, Sindh Tando Jam, Phone No. 022-2765279.

2. Project Director, Vaccine Production Unit, Pir Zamain Shah Road, Sindh Tando Jam, Phone No. 022-9239323, 022-9239324.

Note: Condition of auction will be announced at the time of auction.

(DR. SIRAJ AHMED ISSANI) INF-KRY-106/11

PROJECT DIRECTOR VACCINE PRODUCTION UNIT SINDH TANDO JAM.

Meanwhile visibility at highways in and around such cities of Punjab as Gujranwala, Multan, Rahimyar Khan, Lodhran and Okara remains at zero, while greatly affecting traffic flow of National Highway of Kashmore, Sindh.

To make the matters worse, 500Kv electric line of Guddu Power Plant has tripped, suspending electricity to eight districts of Sindh and Balochistan, where a constant increase in cold wave has been recorded, with temperatures in Quetta freezing to -7 degrees centigrade.

Motorway authorities have informed that visibility at motorway remains at zero, and would be reopened for traffic at 1100 hrs, after thinning of fog, while temporary closure of motorway has pressurized traffic flow over GT Road, Dala Zak and Charsadda Road; with Special motorway patrols are patrolling Motor Highway. -Online

POL prices hike

Businessmen welcome withdrawal ISLAMABAD: Business community here on Saturday welcomed the government decision to withdraw recent hike of petroleum products in the country.

They said that the decision would made positive impact on trade and industry besides enabling the industrialists to make their products competitive in the international markets.

Talking to APP, ex-president ICCI Zahid Maqbool said that increase in POL prices in domestic market led the cause to increase the production cost of the different commodities and made them less competi-

tive in international markets.

He urged the government for adopting long term strategies to adjust with the trend of international POL markets to save the domestic industry from the swift increase of fuel prices.

By decreasing government charges including excise duty, refinery charges and transportation expenditures, the impact of international price fluctuation could be minimised, he added.

The reduction of government profit in petroleum products would help to reduce burden on common people, he added.-APP

BENAZIR BHUTTO SHAHEED UNIVERSITY @ LYARI, KARACHI EXPRESSION OF INTEREST FOR FURNISHING CONSULTANCY Government of Sindh has announced for setting up of the Benazir Bhutto Shaheed University @ Lyari, Karachi for meeting the needs of higher education in the region. For this purpose the University intends to acquire consulting assistance for management and administrative support for University.

The Consultant must possess the skills and experience of at least 03 years of designing and furnishing Educational Institutions & budget estimation, for faculties/departments.

The Scope of Work includes: n Furnishing of various departments (English, I.T, Business Management, Education) with appropriate design and face-lifting of the premises of. Benazir Bhutto Shaheed University @ Lyari, City Campus.

Interested Consultants/ Firms having in depth technical expertise in Institutional framework, design and furnishing are invited to submit their EOIs with full capability information (Brochure, description and experience of similar work, bio-data of key personnel with appropriate skills).

A consultant will be selected using the quality and Cost Based System (QCBS) in accordance with the SPPRA Rules 2010. RFP will be issued to only shortlisted Consultants/firms.

Interested consultants may obtain terms of Reference and short listing criteria at the address given below or can access/download it from ED’s website (www.sindhedu.pk) Expression of interest must be delivered to the address below by 25.01.2011.

Name of Officer: DEPUTY SECRETARY (A&T) Education & Literacy department, Government of Sindh Address: 2nd floor, Secretariat # 6, Shahrah-e-Kamal Attaturk, Karachi Telephone No: 92-21-99211224 Facsimile: 92-21-99213834

(DR. RASHID A. SHAH) INF-KRY-88/11

Vice - Chancellor BBS University @ Lyari, Karachi

3 Monday, January 10, 2010

Greenback weekly outlook

USD to keep rising on heels of strong data NEW YORK: The dollar should shine this week if US data paint a picture of a US economy that continues to brighten. The US has distinguished itself with a recent spate of strong data, which contrasts with flare-ups in the smoldering euro-zone sovereign debt crisis.

Even after a disappointing US employment report, the dollar surged Friday, with the euro dropping well below the key $1.30 mark to its lowest level in four months.

"Investors are shedding euros right now for the dollar," said Greg Salvaggio, vice president of capital markets at Tempus Consulting in Washington.

"The US growth outlook is significantly better than it is within the euro-zone."

"The dollar is going to be king" of the first quarter of 2011, he said.

European Central Bank President Jean-Claude Trichet is to address reporters after the bank announces what ana-

lysts expect will be a steadyon approach to policy Thursday.

Trichet is typically reticent to budge from making anything beyond well-trod comments on a commitment to keeping inflation pressures in check, but markets can be volatile in the wake of his remarks.

If Trichet expresses particular vigilance toward fighting inflation, even though eurozone growth is flagging, the euro could see a temporary spike, Salvaggio said, because investors could read that as a signal of an upcoming interest rate increase.

But any relief is likely to quickly fade, he said.

"We're starting to see some big institutional money moving out," of pro-euro positions, Salvaggio said, meaning momentum could soon take the common currency dramatically lower, with a drop below $1.18 not out of the question, he said.

The euro in June hit a more-

Specs boost USD shorts in the latest week: CFTC NEW YORK: Currency speculators increased bets against the US dollar in the latest week, data from the Commodity Futures Trading Commission showed on Friday.

The value of the dollar's net short position rose to $12.4 billion in the week ended Jan. 4, from $8.85 billion the previous week, according to Reuters and CFTC calculations.

Speculators slightly trimmed bets against the euro in the latest week as the currency rebounded at the end of December on year-end flows and after it failed to break below its 200-day moving average.

The euro, however, came under renewed selling pressure in January amid concerns about the high debt levels in Portugal and Spain and on signs of a strong-than-expected US economic recovery.

The CFTC data also showed speculators increased their bets in favor of the Japanese yen and Canadian dollar in the latest week, but trimmed long positions in the Swiss franc and Australian dollar.

The Reuters calculation for the aggregate US dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. -Reuters

US corn, soy fall as funds rebalance CHICAGO: US corn, soybeans and wheat futures started 2011 with the first weekly decline in more than a month as investment funds rebalanced portfolios and traders consolidated positions on Friday ahead of next week's government crop report.

The US Agriculture Department will release its supply and demand report on Jan. 12 and analysts expect the government to put US corn supplies at the lowest level in 15 years and keep US soybean stocks at the same tight levels from last year.

Chicago Board of Trade corn futures for March delivery broke below $6 per bushel for the first time in two weeks, closing 7 cents lower at $5.95 per bushel.

March wheat ended 15 cents lower at $7.74, a decline of nearly 2 per cent, and March soybeans settled 13 cents lower at $13.65.

Volume in corn futures was about 20 per cent higher than the 30-day average, wheat volume about 10 per cent above average and soybean volume nearly 20 per cent below normal. -Reuters

than four-year low of $1.1876 as the sovereign-debt crisis raged.

Friday afternoon, the euro was at $1.2934 from $1.3002 late Thursday, according to EBS via CQG. While a move that drastic is not likely in the near-term--or, some analysts would suggest, at all--the common currency still could drop to $1.27, and then to $1.25, if market players become convinced the euro's recent fall is becoming entrenched, said Robert Tull, vice president and managing director of foreign exchange and commodity derivatives at Fifth Third Bancorp in Cincinnati.

"We had some very strategic plays by some long-term folks when the euro was really unable to make a clear breach over $1.40," in early November, Tull said.

"That set a tone to be long dollar, short euro."

A short is a bet that a currency will decline in value; a long is a bet a currency will rise.

Key US data this week could push more investors into the pro-dollar camp, with readings for retail sales, consumer prices and industrial production all due Friday.

Rosier US data should also boost the dollar against the yen.

"The situation in Japan is becoming worse on a daily basis," Salvaggio said. As US data swiftly outpaces that in Japan, "look for the yen to start to weaken," he said. A test of Y85 in the near-term is not out of the question, analysts said.

The dollar traded Friday afternoon at Y83.03 from Y83.33 late Thursday. Reuters

Sugar bounds up big on India export woes NEW YORK/LONDON: Raw sugar futures on ICE closed up 4.3 per cent in heavy volume on Friday on talk that No. 2 grower India may delay exports, but the market remained well below last week's 30-year peak.

Coffee reversed lower while cocoa consolidated slightly higher. Unrestricted exports of 500,000 tonnes of sugar from India may be delayed, Indian trade and industry sources said.

"There's rampant talk about this in the market, however we believe OGL (Open General Licence) will be kept in place," said Jeff Bauml, a senior vice president with R.J. O'Brien & Associates in New York, referring to the export scheme.

Sugar from India is seen key to helping alleviate nearby supply tightness.

The March raw sugar contract trading on ICE surged 1.29 cents, or 4.3 per cent, to close at 31.53 cents per lb, moving in a wide 2.52-cent range and reaching a session high at 32.10 cents.

Total volume surged to its highest in nearly two months above 150,000 lots, preliminary Thomson Reuters data showed.

White sugar futures on Liffe were also higher with March closing up $16.90 at $765.10 a tonne.

Raw sugar has seen an exceptionally volatile week of trade, with wide daily ranges of about 2 to 3 cents and the market changing direction every day. It finished the week down 1.8 per cent in rangebound dealings.

Cocoa futures rose, as the market began to creep up again after prices in London slid to a threeweek low this week.

Signs that cocoa was flowing out of West Africa at a good pace despite political tensions in top grower Ivory Coast may help to cap gains, dealers said.

May cocoa on Liffe finished up 3 pounds at 1,936 pounds, far below a peak of 2,094 pounds hit in early December on post-election turmoil in Ivory Coast.

March cocoa on ICE rose $20 to finish at $2,850 per tonne.

Coffee futures reversed lower, with the recent uptrend in the dollar helping to pressure prices.

March arabicas on ICE dropped 2.30 cents to finish at $2.3070 per lb, while May robustas on Liffe closed down $6 at $2,023 a tonne.

-Reuters

US cotton down in quiet trade after chaotic week NEW YORK: US cotton ended down about half per cent after a relatively quiet session on Friday that capped a volatile week for the fiber.

Benchmark March cotton contract on ICE Futures US closed down 0.62 cent, or 0.4 per cent, at $1.4060 per lb. It moved in a three-cent band during the session, touching a low of $1.3961 and high of $1.4250.

"There is little fresh news to stimulate traders to try and move out of the trading range," Mike Stevens, an independent cotton analyst in Mandeville, Louisiana, said. Cotton had swung wildly earlier in the week, trading in a band of more than five cents in

three sessions. Thursday's session was particularly volatile, with the March contract nearly rising by the four-cent trading limit only to fall as much later.

For the week, March cotton fell 3 per cent, its sharpest loss since late November.

Analysts said prices rallied on speculative buying linked to talk of limited supplies coming into the new year. They later dived on selling related to a rebalancing of cotton holdings by commodity indexes.

Investment bank JPMorgan Chase has estimated that nearly 14,000 cotton contracts could be offloaded under the exercise, putting immediate pressure on

cotton despite its strong fundamentals over the longer term.

Some traders think the liquidation pressure over the next fortnight could take ICE's benchmark March cotton to below the key $1.30 mark.

But some market bulls are eyeing record highs above $1.60 per lb, saying this could even happen in the near term if supply fears worsen from floods in Australia and dry conditions in the US cotton belt of Texas.

Many in the US cotton industry who attended an annual conference in Atlanta that ended on Friday appeared cautiously optimistic that high prices will persist in 2011. -Reuters

Sterling gains most against euro in two years LONDON: The pound posted its biggest gain versus the euro since January 2009 as investors speculated the UK economy will recover faster than the nations that use the common currency.

Sterling appreciated to its strongest versus the euro in almost four months and declined against the dollar. A survey of economists forecast the Bank of England will raise its benchmark rate in the third-quarter of this year, and a report showed UK manufacturing increased more than predicted in December.

Portuguese and Spanish bond yields rose as investors prepared for debt auctions next week.

"The market is starting to get bulled up on sterling and we are too," said Greg Anderson, a currency strategist at Citigroup Inc. in New York. "Austerity doesn't seem to have had that big an impact on growth and growth is accelerating faster than in the euro-zone."

The pound strengthened 3 per cent to 83.19 pence per euro, as of 6:07 p.m. in London on Friday, its strongest level since Sept. 13, and the biggest oneweek advance since the week ending Jan. 30, 2009. Against the dollar, the British currency was at $1.5540 from $1.5612 a week ago.

Sterling strengthened 1.8 per cent in the week, according to Bloomberg CorrelationWeighted Currency Indexes, which track a basket of 10 developed-country currencies.

Central bank policymakers meet on Jan. 13 and are forecast to leave their bond-purchase plan at 200 billion pounds and hold its benchmark interest rate at a record low of 0.5 per cent, according to a survey of economists.

Economists forecast the UK benchmark interest rate will rise to 0.75 per cent from 0.50 per cent in the third quarter of this year, according to a survey of economists.-Agencies

Copper bends lower for 4th day NEW YORK/LONDON: Copper ended down for a fourth consecutive session on Friday after disappointing jobs data in the United States tempered some of the economic recovery optimism behind the metal's earlyyear rally to record highs.

Prices of the industrial metal pulled further away from record peaks at $9,754 per tonne in London and $4.4980 per lb in New York, falling to their lowest levels in two weeks, as investors slashed growth projections in response to the softer-thanexpected jobs data.

"It shows that the US is still facing severe problems, and it will take a bit of time before it recovers to pre-crisis levels," Commerzbank analyst Daniel Briesemann said, referring to the payrolls report.

London Metal Exchange (LME) benchmark copper closed down $45 at $9,425 a tonne, after sinking to a session low at $9,300, its lowest since Dec. 24. COMEX copper for March delivery shed 4.70 cents to end at $4.2825 per lb.

The losses place the benchmark COMEX contract right at its 20-day moving average, a level seen keeping prices locked in an area of consolidation.

Also weighing on copper was the prospect of commodity index rebalancing, which could see large sales of copper after gains of more than 30 per cent last year.

Stocks of copper in London Metal Exchange warehouses at 379,525 tonnes are down more than 30 per cent since the middle of February. But since Dec. 9, they have increased by more than 8 per cent.

Lead closed down $7 at $2,649 a tonne. On Thursday it touched $2,712.75 a tonne, its highest since May 2008 on concern about supplies from Australia. Aluminium closed flat at $2,518 a tonne. News that aluminum maker Alcoa Inc planned to restart three idled aluminum smelters in the United States in the first half of 2011 failed to move the market. -Reuters

Asian currencies

Mostly fall for wk as US data boosts dollar BANKOK: Asian currencies headed for a weekly loss, led by the Singapore dollar and the Thai baht, as further signs the US economic recovery is on track bolstered demand for the greenback.

China's yuan was poised for its biggest weekly loss since December 2008 as data on US service industries and jobs beat economist's forecasts in surveys.

The Bloomberg-JPMorgan Asia-Dollar Index, which follows the region's 10 most-traded currencies, dropped 0.6 per cent last week to 115.80 as of 10:42 a.m. in Hong Kong. The Singapore dollar slumped 1.1 per cent to S$1.2960 from a week ago and the Thai baht fell 1 per cent to 30.28, its biggest five-day decline since February 2009. China's yuan retreated by

0.58 per cent to 6.6284.

"The dollar has strengthened on the good economic data out of the US and also on concern the European debt problem will come back to hurt the markets," said Dariusz Kowalczyk, an economist at Credit Agricole in Hong Kong.

The won fell by as much as 0.5 per cent on Friday on concern the central bank will intervene to curb appreciation after Samsung Electronics Co. said fourth-quarter profit slipped 13 per cent, more than analysts had forecast. The currency gained 0.6 per cent last week and recovered its losses on Friday to be unchanged on 1119.83.

Malaysia's ringgit weakened by as much as 0.3 per cent on Friday on speculation regional policy

makers will take measures to curb gains in their currencies to protect exporters. The ringgit later recovered most of its daily loss to be little changed on 3.0695.

"The scrutiny on hot-money inflows has always been there to ensure they are not destabilizing the market, so it could affect sentiment," said Suresh Kumar Ramanathan, a currency strategist at CIMB Investment Bank Bhd. in Kuala Lumpur.

Elsewhere, the Philippine peso slid 0.6 per cent last week to 44.07 per dollar and the Indonesian rupiah declined 0.3 per cent to 9,004.

Taiwan's dollar climbed 3.6 per cent to NT$29.310 on optimism the central bank will tolerate greater appreciation of its currency. -Agencies

C$ rallies on jobs relief; gains 0.3pc for week TORONTO: The Canadian dollar finished stronger against the US currency on Friday, buoyed by a firm domestic jobs report that helped it sidestep a disappointing read on the labor market in the United States.

The currency strengthened early in the session on the back of better-than-expected Canadian jobs numbers and touched its highest level in five sessions at C$0.9899 to the US dollar, or $1.0102.

But trading was volatile after a report showing US employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work.

"We should be seeing a lot stronger (US) job numbers at this point in the recovery and I think that because we're not, it just solidifies that the (US

Federal Reserve) is not only on hold, but will maintain very loose and alternative policy for some time to come," said Camilla Sutton, chief currency strategist at Scotia Capital.

"That's negative for the US dollar," she said.

By contrast, Canada added 22,000 jobs in December compared with 15,200 in November, and more than the 17,500 forecast. The unemployment rate held steady at 7.6 per cent for a second month.

The jobs figures will not likely persuade the Bank of Canada to hike interest rates at its policy-setting decision later this month, but suggests the central bank may raise rates sooner than some had expected.

The Canadian dollar finished 0.5 per cent higher on Friday at C$0.9918 to the US dollar,

or $1.0083, on Friday, from the previous session's close at C$0.9969 to the US dollar, or $1.0031.

The currency extended its streak of trading above parity for a ninth straight session, and notched a weekly gain of 0.3 per cent.

Most of Canada's primary securities dealers now expect the central bank to resume raising interest rates in the first half of this year with economic prospects having brightened in the past month, a Reuters poll showed.

In a December poll, the majority forecast rate increases in the second half of this year with the median prediction of a first hike in July.

The central bank halted its rate-hiking campaign after three successive increases last year in part to gauge the patchy US recovery. -Reuters

US oil slips as dollar strengthen, equities dip Unemployment rate falls, but jobs rise below forecast NEW YORK: US oil prices fell on Friday in volatile trade as the stronger dollar and a stock market slide erased earlier gains, and crude started the year with a weekly loss.

Markets were buffeted as a government report showed the US unemployment rate declined and that while the economy added jobs in December, fewer jobs were created than expected.

Brent crude posted steeper losses after a Thursday fire halted production at a Canadian Natural Resources Ltd oil sands facility in Alberta, one factor that prompted investors to unwind positions that had sent Brent's premium to US crude soaring.

US crude oil for February delivery fell 35 cents to settle at $88.03 a barrel, slipping from an $89.45 intraday peak. Friday's $87.25 low was the weakest since prices

fell to $87.01 intraday on Dec. 17.

For the week, oil ended down 3.7 per cent, the biggest percentage loss since November. Crude ended 2010 up 15 per cent on the year and started 2011 on Monday at a 27-month peak.

Money managers sharply cut their net long crude futures positions on the New York Mercantile Exchange in the week to Tuesday from the previous period, the Commodity Futures Trading Commission said late on Friday.

Total US crude futures trading volume continued its rebound after the holidays at just above 1 million lots traded near the end of post-settlement trading, well above the 250-day average of 670,799 lots, according to Reuters data.

Brent crude trading volume was just under 500,000 lots, down from 630,000 lots on Thursday.

In London, on Friday ICE Brent

crude for February fell $1.19 to $93.33 a barrel, trading from $92.59 to $94.58.

The premium of Brent over US crude prices fell to $5.30 a barrel based on settlement prices, after the spread was as much as $6.56 intraday on Thursday, the widest since May 3, 2010.

Analysts said Brent's price premium to US crude was due a correction from the high level reached as crude stockpiles surged at the Cushing, Oklahoma, oil hub, delivery point for the NYMEX light sweet crude contract.

Snags to supply from Canada were expected to help ease the high stocks at Cushing and there was no estimate from the Canadian Natural on Friday about on when the 110,000 barrel-a-day Horizon oil sands facility in Alberta would resume production after Thursday's fire. -Reuters

Gold dulls,posts biggest weekly loss since May NEW YORK: Gold dipped on Friday, as disappointing US job growth failed to revive safe-haven demand following a raft of strong economic data, and bullion notched its biggest weekly decline since May. Bullion declined for a fifth day, its longest losing streak in seven months, although it closed up from a six-week low after data showed US employers hired fewer workers than expected in December, and a surprise fall in the unemployment rate was blamed on people giving up the search for work.

The nearly 4 per cent decline this week has called into question gold's lengthy bull run as traders look forward to a US economic recovery that Federal Reserve Chairman Ben Bernanke said "may be taking hold" even if growth remains too weak to put a real dent in the nation's jobless rate, although continued jitters over the euro-zone have limited the decline.

Spot gold fell 0.1 per cent to $1,369.85 on ounce at 2025 GMT, having earlier touched a low of $1,352.30 an ounce, its weakest since Nov. 26.

US gold futures for February delivery settled down $2.80 an ounce to $1,368.90. Silver dropped 1.1 per cent to $28.71 an ounce.

COMEX futures volume remained noticeably higher than recent weeks as traders returned in the new year after the holiday period. Gold futures volume was 45 per cent above its 30-day average, and silver was about 25 per cent higher, preliminary Reuters data showed.

Gold's upward trend has weakened after prices breached below the 50day moving average for the first time since August, but a rebound is possible if it can hold above key technical support near $1,360 an ounce.

On the charts, gold has breached below two important support levels, namely its 50-day average at $1,382 an ounce and its December

lows at the $1,360s, said Adam Sarhan, chief executive of New York-based Sarhan Capital.

"At this stage of the game, gold is at a very important inflection point. As long as gold holds above the $1,360s, we should be able to see a bounce," Sarhan said.

Gold rose nearly 3 per cent in December, and was up 29.6 per cent last year. Strong physical demand could also lift prices after recent decline. The head of the Bombay Bullion Association told Reuters that gold imports to India, the world's largest consumer, are likely to jump 64 per cent to 500550 tonnes in 2011.

Gold-backed exchange-traded funds continued to see outflows, with holdings of the largest, New York's SPDR Gold Trust, falling to a seven-month low on Thursday.

Platinum gained 0.2 per cent at $1,731.74 an ounce, while palladium slipped 1.2 per cent at $749.47. -Reuters

4 Monday, January 10, 2011

The Financial Daily International

The Big Shift

Vol 4, Issue 149

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

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

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

Punjab running out of gas Pakistan largest province, Punjab is currently experiencing prolonged outages of natural gas and the situation seems to be going from bad to worse. Never, in the recent past the province has experienced such a situation, leading to violent demonstration. In some cities people have attacked offices of SNGPL and blocked roads. It is feared that if corrective steps are not taken serious law and order crisis may emerge.

Historically, gas load shedding has been undertaken during winter but over the last few years outages have broken all the previous records. While supply of gas to industrial units and CNG stations is being suspended for days, woes of domestic consumers have worsened due to low pressure and outages. One wonders what has gone wrong this year.

Rashid Lone, Managing Director, SNGPL attributes the outages to increasing demand of domestic consumers during winter and drop in gas pressure --- which to him is an occasional phenomenon but in fact it has a contrary reality. These outages and drop in pressure seem the outcome of gross mismanagement rather than supply constraints.

At present the shortfall faced by the country is estimated between 700mmcfd to 900mmcfd.

Therefore, the impression being created by SNGPL that it faces a shortfall of 900mmcfd is incorrect. SNGPL management was fully aware of the estimated shortfall during the winter but it failed in preparing a detailed load management plan in consultation with its bulk consumers.

Though, fertiliser plants getting gas from Sui twins were told to observe complete shutdown for 45 days but no likely impact was known because three of the largest urea producers get supply from Mari field and the consumption of fertiliser industry is around 5 per cent of the total gas produced in the country.

As against this, power plants consume over 25 per cent of total gas produced in the country, but more and more gas is being diverted to power plants to contain electricity generation cost. In the prevailing scene government should immediately stop gas supply to power plants because these can be run on alternate fuels like furnace oil and diesel. As such electricity consumption goes down substantially during winter.

Industrial units must be capable of switching power plants to alternative fuels from gas at the earliest. Closure of industries is affecting country's GDP and rendering workers jobless.

Suspension of gas supply to fertiliser plants will entail its import, eroding foreign exchange and billions of rupees subsidy.

Since Punjab government is headed by PMLN, it can very conveniently blame the federal government headed by PPP of victimisation.

Prime minister should immediately look into the issue because his party has a huge vote bank in the province.

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.

P

resident Barack Obama's midterm shift to the center is gaining momentum as he tries to strike a more business-friendly, deficit-conscious tone and steal some of the Republicans' thunder to boost his 2012 re-election chances.

Facing a newly empowered Republican opposition, Obama is moving to retool both his staff and his message, hoping to win back moderate voters who swept him into office two years ago but deserted his Democrats in the November congressional elections.

Obama's strategy promises greater efforts to bridge the partisan divide but at the same time seeks to claim political turf that Republicans thought they had staked out as their own.

"No doubt, this administration will be trying to sound as tough on debt and spending as any Republican," said Terry Madonna, a political scientist at Franklin and Marshall College in Pennsylvania. "It's a fight for the hearts and minds of independents."

Republicans won the House of Representatives and weakened the Democratic majority in the Senate by tapping into public anxiety over a broad expansion of government under Obama, who they painted as a bigspending liberal lacking a viable plan to heal the economy or reduce joblessness.

Despite the new balance of power, Obama appears to have found a way to recover some lost ground -- by taking a page from fellow Democrat Bill Clinton's "triangulation" playbook.

After suffering a similar midterm rout in 1994, Clinton turned the tables on the Republicans and embraced traditional conservative themes like balanced budgets and welfare reform, riding those issues to resounding re-election two years later.

Absorbing the lessons of his own electoral "shellacking," Obama started his move to the middle last month when he forged a compromise tax-cut package with the Republicans over fierce objections from his liberal base.

Since then, his public approval rating, which hit new lows just before the

November elections, has edged higher, recently touching 50 per cent in one Gallup poll.

A dose of modestly favorable economic news -- Friday's government report of a drop in unemployment to 9.4 per cent from 9.8 per cent in December -- could give him another boost.

PRO-BUSINESS RESHUFFLE Just back from his Hawaiian vacation, Obama is seeking to build on a new political dynamic that produced

His appointment of Treasury aide Gene Sperling as his top economic adviser and JPMorgan Chase & Co executive William Daley as chief of staff promise fresh thinking in his inner circle as he grapples with the new Congress while pushing a job-creation agenda seen as crucial to getting him re-elected.

Both are pragmatic veterans of the Clinton years, an era of economic prosperity, and their Wall Street connections could help repair Obama's

“

Facing a newly empowered Republican opposition, Obama is moving to retool both his staff and his message, hoping to win back moderate voters who swept him into office two years ago but deserted his Democrats in the November congressional elections

several legislative successes in the final days of December's "lame duck" congressional session.

Though Republicans now hold greater clout on Capitol Hill, they seem to have been caught flat-footed

frayed relations with the business world.

In the aftermath of an acrimonious congressional election, Obama has also insisted he wants to move past ideological differences and find ways

A risk for Obama is alienating key liberal constituencies already angered by concessions he has made. But analysts say he is unlikely to go far enough to provoke a serious presidential challenge from the left

by Obama's political agility after having outmaneuvered him for much of the past year.

Obama even came close to upstaging the Republicans' ceremonial takeover of the House last week with the unveiling of his biggest staff shake-up since taking office.

to cooperate across party lines.

His call for a return to more civil public discourse could take on new resonance after a shooting rampage in Arizona on Saturday in which Democratic US lawmaker Gabrielle Giffords was seriously wounded and six people were killed.

Some have suggested that a climate of political vitriol in Arizona -- where a firestorm has raged over immigration and other divisive issues -- may have played a role.

National politicians across the spectrum united in condemning the attack, and Congress put off its agenda for the week, including a vote on the repeal of Obama's contentious healthcare overhaul.

NO BUDGETARY SACRED COWS With a battle already brewing in Washington over Republican demands for deep spending cuts in exchange for raising the national debt limit, the Obama administration is scrambling to depict itself as just as fiscally minded as the other side.

Obama spoke in his Saturday weekly radio address of the need to "wrestle with a challenging budget and longterm deficits," and top aides have taken to the airwaves to talk up fiscal restraint -- though they've offered few specifics.

In recognition of growing sentiment in Washington that even defense spending is no longer a sacred cow, the Pentagon on Thursday unveiled plans to cut $78 billion in spending over five years, including a reduction of up to 47,000 troops.

How to address the $1.3 trillion deficit will be a big part of the political debate in the second half of Obama's term, and he is mindful that he must show he is on the right side of it.

Obama will offer his own fiscal vision when he gives his State of the Union speech later this month and he could propose some form of tax reform as a way to reach out to Republicans.

A risk for Obama is alienating key liberal constituencies already angered by concessions he has made. But analysts say he is unlikely to go far enough to provoke a serious presidential challenge from the left.

"Liberal Democrats will yell, but they will stay with him. Where else could they go?" said Stephen Wayne, a political scientist at Georgetown University.-Reuters

Espousing Extravagance E

xtravagant weddings with music and dance were banned by Afghanistan's Taliban as unIslamic and now the government plans to again rein in lavish marriage celebrations, but this time to stop grooms going broke.

Since US-backed Afghan forces ousted the strict Islamist Taliban in 2001, Afghans have revived the tradition of holding big weddings, costing thousands of dollars, in a country where the average annual income is less than $400.

Afghan weddings are celebrated by hundreds of guests in luxurious wedding halls with the groom and his family expected to foot the bill and agree to every request of the bride and her family.

"Wedding ceremonies among people are like a competition, no one wants to come last, people like to show off their wealth by feeding hundreds of guests in costly wedding halls," said Justice Minister Habibullah Ghaleb.

"Families are the victim of such a wrong tradition and have to accept these heavy burdens," he said.

Details of the planned ban on expensive weddings were still being worked out, said Justice Ministry spokesman

Farid Ahmad Najibi, and he acknowledged it could be difficult to enforce because lavish weddings were so ingrained in Afghan culture.

State institutions were shattered during decades of conflict, with regional, ethnic and tribal differences also making it difficult to enforce laws.

Violence is at its worst since the Taliban were ousted, making security a priority even while authorities try to rebuild the aidreliant economy.

R a f i Kazimi, 24, and his family s p e n t a b o u t $10,000 when he married Farima, 20, in O c t o b e r.

The couple had 600 guests at their wedding in Kabul. Taxi driver Kazimi and his family are now repaying at least $6,000 in bank loans.

But Kazimi recently lost his job and his family -- his wife, mother, father, grandmother, two sisters, three brothers and one of their wives -- are surviving on his older brother's salary of $410 a month, $300

of which is used to repay the loans.

"It was too much," Kazimi said of the money spent on his marriage to his first cousin. "I was so worried about how to find this money. Her parents didn't care if I had the money or not, they just said we must have a big wedding."

While Kazimi thought a ban on expensive weddings was a good idea, he doubted if it would be accepted. Along

Jawzjan province banned expensive weddings and dowries in a bid to encourage young people to marry instead of postponing their nuptials because they could not afford it.

Under the rules, the cost of a wedding must be in line with the economic status of the groom, and if someone violates the ban then they will not be invited to any other weddings in the village.

"Marriage is everyone's right and it must not be presented as a huge burden for the bride and groom," said A z a a d Khwa, an elder from Jawzjan.

"Making the groom's family pay for everything and feed hundreds is a big sin."

Many elaborate wedding halls have sprung up around Kabul over the past nine years, compared with just a few that operated while the Taliban were in power from 1996 to 2001.

Guests attending weddings at City Star Hall in Kabul's Wazir Abad neighbourhood

Since US-backed Afghan forces ousted the strict Islamist Taliban in 2001, Afghans have revived the tradition of holding big weddings, costing thousands of dollars, in a country where the average annual income is less than $400 with the wedding celebrations, a groom and his family are also expected to pay for ornate outfits for the bride and groom.

"A HUGE BURDEN" The government's bid to regulate weddings follows similar moves by some tribal elders and provincial officials.

Late last month, elders from several villages in northern

drive through a lit-up moon to the entrance and a large silver star adorns the roof. It opened three months ago at a cost of $5 million, said manager Zabi Mujeeb.

It has four wedding halls and hosts about 70 weddings a month, with an average of 800 to 1,000 guests, Mujeeb said.

Prices per guest range from $12 to $23 for the food.

Music, a cake, decorations and a photographer are all extra.

"The people living in the city, they don't like to have a lot of guests," said Mujeeb.

"But the people living in provinces, they like to have a lot of guests."

In the largest of City Star Hall's venues, staff was putting the finishing touches on decorations for the wedding of a couple from nearby Parwan province. There will be 1,600 guests at a cost of $16,000.

The opulence makes one's head spin.

The bride and groom were to walk over a bridge above a fountain in front of mountain landscape mural.

They descend onto an illuminated walkway under arches of fake flowers to a stage where they will be seated on silvercoloured thrones.

"The grooms find the money," said Mujeeb.-Reuters

War of the Wishes C

hinese President Hu Jintao travels to Washington for meetings with President Barack Obama and a state visit on January 19.

Here are five items on the wish lists that the leaders of the world's largest economies -who are competitors but also key partners -- will bring to their summit.

OBAMA Currency and Trade: Obama will push Hu to let China's yuan currency appreciate. Washington says Beijing keeps the currency too low, giving it an unfair advantage in international trade, and Obama has repeatedly warned China against relying too much on selling its products abroad for growth.

Nuclear diplomacy: Obama is

expected to ask Hu for more help persuading Pyongyang to abandon nuclear weapons and avoid potentially destabilising actions like the North's bombarding of a South Korean island and sinking of a navy ship last year.

He also wants Beijing's continued help in pushing Tehran on its nuclear program. Washington wants tougher sanctions on Iran to convince the Islamic republic's leaders to curb their nuclear ambitions.

Showing strength: The US president wants to boost perceptions that he is a strong leader after his Democrats lost heavily to Republicans in the November 2010 congressional elections and after he was criticised for seeming too weak during his

November 2009 visit to China.

Military: He is likely to seek reassurances from Hu about China's long-term military ambitions -- some US officials are concerned about Chinese spending on its military as its economy booms -- and what they see as Chinese aggression in the region and secrecy about its plans.

Ceremony: The White House wants a visit with no embarrassing glitches, and highlighted by a glittering state dinner and other ceremonial occasions. Security will also be extra-tight, to avoid anything like the 2006 protest or the party-crashers who made their way into Obama's state dinner for India's leader in 2009.

HU Currency and trade: The

Chinese president wants to assurances for his workers and export industries that American markets will remain open to Chinese goods.

Nuclear diplomacy: Hu, who makes stability on the Korean peninsula a priority, is likely to push Obama to return to negotiations with North Korea and soften the US stance that it will not talk again without North Korean concessions.

Legacy: For Hu, the trip is largely about his legacy -- Vice President Xi Jinping is set to succeed him as China's president after late 2012. While sending a message of US-Chinese cooperation, he wants to show a domestic audience that he is able to stand up to Washington and not make too many concessions.

Military: China wants to alleviate perceptions it believes are growing in the United States and elsewhere in Asia that China is a threat. It also may want reassurances on the perennial sticking points of US arms sales to Taiwan, which Beijing considers a renegade province, and US military operations near China's shores.

Ceremony: China wants a smooth summit, with all the trappings of a formal state visit and no embarrassing incidents.

Hu's last visit to Washington, in 2006, was marred by glitches, most notably an incident in which a shouting protester from the Falun Gong spiritual movement interrupted Hu's opening remarks on the White House lawn.-Reuters

5

Monday, January 10, 2011

US stocks surge for 6th straight week as data beat forecast

Asian stocks gain for 4th week as US data boost exporters

Gains galore at KSE last week

Weekly Review KSE-100 Index Opening Closing Change % Change Turn over (mn)

12,022.46 12,389.04 366.58 3.05 775.03

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

3,733.01 3,783.95 50.94 1.36 34.03

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

3,016.70 3,155.91 139.21 4.61 1.80

Major Gainers

Symbol

Nawaz Ali

Close

Change

NESTLE 2,471.66 POL 321.71 MTL 522.88 NRL 290.92 FZTM 413.61

96.80 25.75 23.10 17.13 13.61

Major Losers

Symbol IDYM BATA PECO RMPL SIEM

Close

Change

254.06 642.71 216.60 2,090.30 1,234.90

-74.14 -46.44 -33.39 -19.57 -18.61

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA KESC FFBL DGKC NBP

14.73 3.16 38.44 30.48 77.65

106.09 57.63 51.10 32.44 30.36

Active Issues Plus Minus Unchanged

216 197 13

Sector Updates FERTILISER 000 tonnes

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

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

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

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

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

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

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

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

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

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

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

FRANKFURT: Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange.-Reuters

Wall Street weekly outlook

Earnings to set tone, upside maybe limited NEW YORK: Investors head into this week on the defensive as the potential for US equity gains could be limited even if earnings begin on a strong note.

The early fourth-quarter results will set the tone. Any weakness will give traders a reason to pull back from the rally of recent weeks, which stalled on Friday on bank stock losses and lackluster jobs data.

Still, the major indexes finished with a sixth straight week of gains: the Dow was up 0.8 per cent, the S&P 500 up 1.1 per cent and the Nasdaq composite index ahead 1.9 per cent.

Alcoa Inc is set to release results on Monday after the market's close, unofficially launching the quarterly earnings season. Intel Corp and JPMorgan Chase & Co, also Dow components, will likewise issue their report cards in the week and are expected to do well.

"It will be important to get out of the box with a positive note," said James Dunigan, who helps manage $105 billion at PNC Wealth Management in Philadelphia. "If that's the case, we have a little way to run and can keep rising, but if the results disappoint there will be reason to step back."

The S&P 500 has climbed

7 per cent since the start of December while Alcoa has soared 25 per cent and JPMorgan has surged 16 per cent. Analysts say that such rapid gains leave the market more vulnerable for a pullback and could limit upside potential.

The S&P 500 has struggled to break above 1,280, though a floor appeared to be developing around 1,260, the 14-day moving average and near the 2010 close.

Jeffrey Friedman, senior market strategist at LindWaldock in Chicago, said that if results come in line or miss expectations "we could see as much as an 8 per cent pullback." Upside potential is 4 per cent to 5 per cent "and that's only if earnings beat convincingly," he said.

Friday's December employment report could increase the likelihood of stocks' retreating. While the unemployment rate dropped by a hefty amount in December, far fewer workers were added than expected.

"There's good, bad and ugly in that report," Friedman said. "The good was the unemployment rate, the bad was that we didn't meet expectations, and the ugly is that we don't know whether the good or bad is more right."

This week will also see

retail sales data on Friday, which will be closely watched following soft December comparable sales.

On Wednesday the Federal Reserve will release the Beige Book.

The Beige Book, an anecdotal report on the economy by region, comes after Chairman Ben Bernanke gave his first congressional testimony since launching a second round of quantitative easing. Bernanke said that the economy may finally be hitting its stride even if growth remains too weak to put a real dent in the US unemployment situation.

Bank stocks could be pressured further this week after a ruling by Massachusetts' highest court that invalidated the seizures of two homes in foreclosure by Wells Fargo & Co and US Bancorp.

The KBW Banks index is up 18 per cent since the start of December but fell 0.9 per cent on Friday.

The ruling could impact bank foreclosures nationwide and "dampen recovery prospects for the real estate sector and banks," said Nick Kalivas, senior equity index analyst at MF Global in Chicago. "Financials have really been a leader in the market in recent weeks; this could close that sector out."

-Reuters

KARACHI: Bulls horned aside the security tension and political uncertainty last week earning Karachi Stock Exchange around 3.05 per cent after more than 30 months.

This feat was an upshot of hopes that corporate results would be good and a leverage product would come soon. An added boost also came from higher international oil prices.

The benchmark KSE 100Index leapt up by 366 points 3.05 per cent-- to close at 12,389 points -its highest close since June 2008.

KSE 30-Index gained 373 points -3.22 per cent- to close at 11,961 points and KSE AllShare Index rose by 232 points --2.79 per cent-to close at 8,592 points.

"Despite the prevailing law and order situation in the country, after the assassination of the governor Punjab coupled with political uncertainty, market continued its ascent", said Mazhar A Sabir, analyst at InvestCap. Following the decision by the MQM to quit federal government, market started the week on a bearish note on Monday and saw 173 points vanishing and at one moment during intraday trade touched its lowest level of the week at 11,761 points.

Thereafter despite tense security situation in the country in the wake of governor Punjab Salman Taseer's assassination, market witnessed some bullish activities during the remained days of the week as local and foreign institutional investors took positions mainly in oil, fertiliser and textile stocks.

Further, hopes of improvement in political tension which did improved mainly after reversal of petroleum prices hike, visit of PM Gilani to

MQM headquarters. Beside that, hopes of early launch of much awaited leverage product also supported the bullish momentum in the market.

Therefore index gained more than 500 points together during the remaining four trading days of the week and also touched a highest level of the week of 12,430 points.

Ahsan Mehanti, Director at Arif Habib Investments said that institutional & foreign interest in blue chip oil & gas, fertiliser scrips continued on hopes of record earning announcements.

Expectations of an early approval of leverage products kept investor sentiment positive despite concerns over rising fiscal deficit and IMF statements on Pakistan energy subsidies, he added.

Local banks were the major buyers as according to NCCPL lenders did a netbuying of $22.4 last week while foreign investors also remained on the buying side by doing a net-buying of $11.9 million.

Volumes were impressive throughout the week as 775 million shares were traded in the overall market which is 196 million shares more than a turnover of 579 million a week earlier.

Lotte Pakistan stood as the volume leader with 106.09 million shares followed by KESC with 57.63 million shares and Fauji Fert. Bin Qasim with 51.10 million shares.

Average daily turnover was 155 million shares --39.2 million more as compared to an average volume of 115.8 million last week. There were 426 issues active during the week but of that total 216 moved ahead, 197 retreated, and 13 issues moved neither way.

Gulf stocks mkt

Dubai index ends down; Saudi retreats DUBAI: Saudi Arabia's index TASI ended lower, retreating from an eight-month intraday high as petrochemicals declined and banks were largely flat.

Saudi Basic Industries Corp (SABIC) and Saudi Kayan each dropped 0.7 per cent.

The petrochemicals index fell 0.4 per cent, easing from an early-session eight-month peak. It is up 17 per cent over the past 12 months, outperforming the bank index, which has risen 4.3 per cent over the same period. Al Rajhi Bank fell 0.3 per cent.

"Banks are not showing loan growth of any significance and we don't know what provisions will be like in Q4 - people don't want to get caught out like they did in Q3, so have stepped away from bank shares for the time being," said a Riyadhbased trader at an international bank.

Saudi banks' third-quarter earnings broadly missed estimates, in part because the central ordered lenders to take extra provisions.

The main index fell 0.09 per cent to 6,723 points.

Dubai's index DFM ended lower for a fourth session in five as a lack of stock specific news spurred local traders to lock in early-year gains.

Drake & Scull lost 0.9 per cent, Emaar Properties fell 0.8 per cent and Arabtec dipped 0.5 per cent.

This trio accounted for nearly half of all shares traded on the index, which slips 0.2 per cent to 1,666 points, trimming its year-to-date gains to 2.1 per cent.

"Sunday is usually very slow - international markets are closed, so foreign investors prefer to wait until Monday to take positions, leaving local and retail investors to drive the market," said Marwan Shurrab, vice-president and chief trader at Gulfmena Alternative Investments.

With Dubai sluggish, local investors have switched attention to Abu Dhabi where indebted developer Aldar Properties climbed 2.9 per cent as investors bet government support could be imminent.

See # 13 Page 11

Dhiyan

GOOD DAY Faisal Shaji, Head of Online Equities and Institutional Sales Standard Capital Securities Technically as reflected by MACD, market outlook is bullish and it can touch 14,000 level in the next 3-4 months. Investors better lay hands on stocks the earnings of which are likely to grow. They can also go for high-dividend-yielders in oil & gas, power, and fertiliser sectors. Our top picks are EPCL, GHGL, KAPCO, SSGC, and MTL. But it should be kept in mind that in around June 2011 market would be on the verge of crisis due to chronic debt haemorrhaging. Rising foreign interest in the oil sector is continuously moving the index up and it is likely to continue doing so in the coming days as well. Market would be positive today.

Mohsin Adhi, Director Alfa Adhi Securities Bullish activities are likely to sustain in the market where index can touch 13,000 level soon due to continued influx of foreign investment. Investors are therefore advised to invest in bluechip stocks of oil and fertiliser sectors. No change in the interest rate would trigger the market however furhter monetary tightening would hurt the market. The day would be green.

6

Monday, January 10, 2011

Market

KSE 100 Index

Symbols

Volume

775,028,396

Value

37,738,390,854

Trades

407,173

Advanced Declined Unchanged Total

216 197 13 426

Current High Low Change

All Share Index

12,389.04 12,430.16 11,761.28 h366.58

Current High Low Change

OIL AND GAS

Paid up Cap(mn)

Company

PE

Open

High

High Low 1,637.57 1,503.52 Total cos Defaulter cos P/BV (x) ROE (%) 3.83 32.54 Low

Close Chg

Last 60 days High Low

Volume

2010 Div BR (%) (%)

2011 Div BR (%) (%)

691

5.95 334.52

346.99 325.01 343.60

9.08

1508352 374.20

287.99

300

20B

-

-

Attock Refinery Mari Gas Company

853 7.32 124.68 735 18.17 124.97

131.88 118.45 130.63 134.75 117.00 134.13

5.95 9.16

17975135 137.20 1387017 134.75

82.10 109.00

31

-

-

-

National Refinery 800 4.31 273.79 Oil & Gas Development XD 43009 12.22 170.83

297.00 267.00 290.92 17.13 181.45 165.12 180.66 9.83

1454687 297.00 3389778 181.45

203.00 146.60

200 55

- 15.00

-

Pak Petroleum Pak Oilfields

228.88 212.01 225.73 8.58 322.78 288.26 321.71 25.75

10824767 228.88 17733912 322.78

178.06 231.01

90 255

108.20 102.52 106.31 -1.41 300.53 289.00 296.56 1.38

159800 114.50 7598429 300.53

61.76 262.00

9.18 217.15 7.60 295.96

350 1715

- 107.72 5.02 295.18

Pak Refinery Limited P.S.O Shell Gas LPG

226

Shell Pakistan

685 10.61 208.22

-

33.83

34.89

32.31

33.29 -0.54

208.74 200.00 206.90 -1.32

11,961.38 11,990.26 11,311.90 h373.14

20B -

-

Open 752.39 Turnover 318,168 P/E (x) 5.60 Company

Paid up Cap(mn)

Pak Int Cont.Terminal PNSC

1092 1321

80

-

-

-

40.28

29.10

-

-

-

-

232654

209.89

182.05

40

-

-

-

CHEMICALS

Close 719.22 Listed cap 3,242.17 mn Payout (%) 11.08

Change % Change -33.17 -4.41 Market cap 200-Day High 12,693.65 mn Div Yield (%) 200-Day Low 1.98 -

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

6.90 40.38

72.75 37.95

75.15 38.40

68.00 36.00

69.02 -3.73 37.15 -0.80

296647 21521

77.77 40.42

60.05 32.36

Paid up Cap(mn)

PE

3924

8.41

Agritech Limited

Open 23.90

High 24.59

Open 1,194.87 Turnover 3,500,901 P/E (x) 4.38 Paid up Cap(mn)

PE

High Low 1,256.77 1,167.27 Total cos Defaulter cos P/BV (x) ROE (%) 1.11 25.35

Open

High

Low

144 5.80 76.20 101 5.84 190.47 626 9.69 124.98 890 2.28 56 4.94 196.25 598 21.28 22.60 450 3.40 4.92 200 6.56 4.10 1428 - 11.60 786 5.92 252.47 823 11.46 69.82 150 3.82 20.90

77.50 197.00 143.80 2.54 212.00 25.27 5.30 4.79 11.70 266.00 74.80 20.88

72.00 185.00 118.74 2.06 186.44 21.54 4.76 4.01 11.21 249.00 68.01 19.90

Close Chg

Close 1,227.71 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Last 60 days High Low

-

-

5

10R

-

-

-

-

-

FOOD PRODUCERS

7.15 183.00

190.90 175.00 187.07 4.07

654625

190.90

149.72

-

-

-

-

8.26 198.36

203.50 191.19 199.25 0.89

1015530 203.50

165.73

40

-

-

-

Performance of SR Food Producers Index

1.32

-

-

-

-

Dawood Hercules

1203 3663

-

2.99

3277 11.07 193.81 -

11.28

Fauji Fertilizer

6785

9.57 125.86

Fauji Fert.Bin Qasim

9341

7.25

ICI Pakistan

1388

8.47 144.24

15142

5.26

35.73 13.70

3.45

2.62

3.28 0.29

203.20 190.00 201.55 7.74 11.30

10.56

11.21 -0.07

133.50 122.60 132.10 6.24 38.89

16809380

4.24

15909129 203.20

-

40

-

-

-

11.39

9.16

-

-

-

-

14609062 133.50

106.01

95

-

-

-

7342330

174.00

-

38.44 2.71

51100179 38.89

28.15

17.5

-

-

-

152.49 140.50 150.38 6.14

3178199 152.49

119.50

55

-

-

-

14.99

34.75

6504

20.26

13.24

14.73 1.03

106087375 14.99

8.71

-

-

-

-

74

-

1.89

1.90

1.01

1.77 -0.12

9404

2.75

0.80

-

-

-

-

1106

-

2.00

2.23

1.89

2.03 0.03

2500577

2.74

1.30

-

-

-

-

Shaffi Chemical

120

-

2.71

2.69

2.03

2.40 -0.31

10562

3.40

1.80

-

-

-

-

Sitara Chem Ind

214 10.20 127.75

130.50 120.06 124.47 -3.28

10468

139.40

101.00

25

5B

-

-

Sitara Peroxide

551 14.29

Nimir Ind Chemical

Wah-Noble

90

7.02

13.25 36.13

13.50

12.70

13.15 -0.10

1182562

14.69

8.17

-

-

-

-

37.69

35.70

36.48 0.35

11905

43.75

32.00

50

-

-

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,183.40 Turnover 1,518,110 P/E (x) 6.32 Company

High Low 1,284.01 1,145.93 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

707

-

16.85

19.47

16.32

18.69 1.84

Century Paper Pak Paper Product Security Paper

Close 1,226.02 Listed cap 1,186.83 mn Payout (%) 25.28

Change % Change 42.62 3.60 Market cap 200-Day High 3,397.39 mn Div Yield (%) 200-Day Low 4.00 -

Last 60 days High Low

Volume

1392521 19.49

2010 Div BR (%) (%)

15.28

-

-

2011 Div BR (%) (%) -

-

50

8.66

47.13

48.45

43.76

45.01 -2.12

14848

48.90

38.61

2533.33B

-

-

411

6.91

44.86

47.19

43.50

44.80 -0.06

110741

47.70

38.00

50

-

-

-

Open 1,703.51 Turnover 2,470,881 P/E (x) 37.94 Company

Paid up Cap(mn)

Adam Sugar AL-Noor Sugar Bawany Sugar Chashma Sugar Crescent Sugar Dewan Sugar Faran Sugar Habib Sugar Habib-ADM Ltd J D WSugar Mehran SugarSPOT Mirza Sugar Mithchells Fruit National Foods Noon Sugar Pangrio Sugar Premier Sugar Quice Food S S Oil Sakrand Sugar Sanghar Sugar Shahmurad Sugar

58 186 87 287 214 365 217 600 200 490 143 141 50 414 165 109 38 107 57 223 119 211

Company

High Low 1,109.40 1,049.15 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 33.10

Close 1,085.38 Listed cap 3,596.11 mn Payout (%) 30.91

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

565

4.25

27.51

27.50

26.30

27.20 -0.31

99146

Dost Steels Ltd Huffaz Pipe International Ind

2.70

2.87

2.55

2.64 -0.06

Change % Change -8.79 -0.80 Market cap 200-Day High 10,605.93 mn Div Yield (%) 200-Day Low 8.93 -

Last 60 days High Low 28.45

131223

24.00

3.39

PE

Open

High

Low

18.20 50.57 5.00 12.41 6.75 3.60 20.84 33.31 12.69 88.71 57.52 6.09 74.26 69.41 11.98 6.10 46.98 2.20 3.50 3.00 14.40 10.96

20.50 52.50 5.99 13.00 6.90 4.10 21.19 33.55 12.48 92.50 60.00 6.70 86.10 67.00 12.28 6.75 48.70 3.20 3.30 3.26 15.00 10.60

18.80 49.00 4.20 11.08 5.50 3.40 19.50 32.30 11.69 86.00 56.50 5.83 75.50 59.00 9.03 6.01 43.15 2.12 3.20 2.25 13.50 9.85

2010 Div BR (%) (%) 30

2.00

-

-

2011 Div BR (%) (%) -

-

Company

Paid up Cap(mn)

Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1174 Tariq Glass Ind 231

PE 3.85 2.43

11.23 41.00 0.86 8.50 5.00 1.25 18.55 29.00 11.69 66.00 50.50 4.20 61.50 39.01 9.03 4.25 32.50 2.02 3.00 2.11 13.00 9.85

Open 0.86 7.40 14.04 20.52

High 1.65 7.90 15.49 21.25

High Low 1,168.85 1,120.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 10.64 Low 0.65 6.32 13.90 20.00

Close Chg 1.10 0.24 7.00 -0.40 15.29 1.25 20.35 -0.17

Close 1,160.62 Listed cap 3,763.71 mn Payout (%) 6.27

Volume

Last 60 days High Low

102000 1.65 34510 11.49 2009526 15.49 195497 21.40

0.20 6.10 12.90 15.90

15.80

15.00

15.60 -0.01

103315

16.05

12.50

-

-

-

-

PERSONAL GOODS

57.15

58.39 -1.46

356100

62.20

44.00

40

20B

-

-

Performance of SR Personal Goods Index

Open

High

Low

Close Chg

-

3.47

3.46

3.10

3.37 -0.10

866 858 182 14

6.61 -

63.11 3.06 23.01 14.50

62.98 3.19 22.89 14.95

61.01 2.50 21.21 12.75

62.81 2.80 22.40 13.80

956 24.66 982 14.38 948 3891 3651 127.00 6933 15.18 502 3.70 1760 77 2319 32 1288 3234 6.75 5261 1.32 541 3.60 2228 200 -

10.75 1.71 2.45 2.24 30.17 5.02 7.25 1.80 2.41 8.33 0.70 6.46 75.79 2.87 4.22 6.77 7.30

11.20 1.94 3.39 2.40 31.00 5.13 7.30 1.90 3.00 8.29 0.88 6.75 76.25 2.99 5.89 7.09 7.33

10.25 1.70 2.12 2.01 28.75 4.91 7.00 1.60 1.71 7.10 0.60 6.10 73.00 2.75 4.22 6.55 6.40

10.85 1.87 3.39 2.21 30.48 5.01 7.10 1.75 1.90 7.70 0.70 6.60 75.13 2.84 4.90 7.01 7.00

Close 1,003.61 Listed cap 54,792.74 mn Payout (%) 19.04

Change % Change -6.50 -0.64 Market cap 200-Day High 71,779.91 mn Div Yield (%) 200-Day Low 2.38 -

Last 60 days High Low

Volume

Open 1,038.51 Turnover 3,062,331 P/E (x) 2.92

2010 Div BR (%) (%)

2011 Div BR (%) (%)

43643

3.98

2.80

- 100R

-

-

-0.30 -0.26 -0.61 -0.70

46402 23969 169977 11395

65.99 4.24 24.16 15.50

57.60 1.10 14.12 7.91

50 - 122R -

-

-

0.10 0.16 0.94 -0.03 0.31 -0.01 -0.15 -0.05 -0.51 -0.63 0.00 0.14 -0.66 -0.03 0.68 0.24 -0.30

57743 12.75 25761 2.49 19785 3.49 1127983 3.10 32440823 32.10 2026380 5.55 20600 8.20 643429 2.25 58651 5.00 27235 9.19 25831 1.08 50703 8.70 8405748 79.98 1354441 3.30 38303 8.89 584221 8.58 40670 7.50

10.00 1.31 1.11 1.40 24.80 4.70 4.25 1.60 1.18 2.70 0.42 5.80 69.20 2.66 3.21 6.52 5.25

40 -

-

-

Paid up Cap(mn)

PE

Open

High

High Low 1,059.57 1,000.73 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low

Close Chg

Cherat Papersack 115 2.72 77.41 78.25 73.54 76.35 -1.06 ECOPACK Ltd 230 2.57 2.99 2.37 2.70 0.13 Ghani Glass 1067 4.55 49.30 49.90 48.71 49.46 0.16 MACPAC Films 389 3.02 3.88 2.52 3.42 0.40 Packages Ltd 844 67.97 128.61 134.90 123.10 132.55 3.94 Siemens Engineering XD 82 10.19 1253.51 1238.90 1195.00 1234.90-18.61

Close 1,048.29 Listed cap 3,043.31 mn Payout (%) 15.55

Volume

Open 1,011.79 Turnover 66,496,467 P/E (x) 7.05

20R -

Change % Change 9.78 0.94 Market cap 200-Day High 39,485.69 mn Div Yield (%) 200-Day Low 5.33 -

Last 60 days High Low

338259 83.23 34.00 729029 3.30 1.82 21759 61.10 45.30 73321 4.05 1.60 1638385 136.74 100.11 86263 1381.00 1120.00

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

25B 10B -

2011 Div BR (%) (%) -

-

INDUSTRIAL ENGINEERING

Company

Paid up Cap(mn)

(Colony) Thal Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Brothers Textile Chenab Limited Crescent Fibres Ltd Crescent Jute D S Ind Ltd Dar-es-Salaam Dawood Lawrencepur Dewan Khalid Textile Dewan Mushtaq Textile Gadoon Textile XD Gul Ahmed Textile Gulshan Spinning Hajra Textile Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile J K Spinning Jubilee Spinning Khalid Siraj Kohat Textile Kohinoor Ind Kohinoor Spinning Kohinoor Textile Mian Textile Mohd Farooq Moonlite (PAK) Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Prosperity Ravi Textile Redco Textile Rupali Poly Saif Textile Salman Noman Samin Textile Sapphire Textile Sargodha Spinning Saritow Spinning Service Ind Shadab Textile Shadman Cot Shams Textile Suraj Cotton Thal Limited Treet Corp ZahidJee Textile Zephyr Textile Ltd

56 2594 840 133 4493 33 76 98 1150 124 238 600 80 514 57 34 234 635 222 138 716 3105 99 180 184 325 107 208 303 1300 1455 221 189 22 187 1596 3516 560 174 62 185 250 213 341 264 42 134 201 312 133 120 30 176 86 180 307 418 341 594

PE

Paid up Cap(mn)

PE

Open

66 1.05 17.00 215 5.66 227.00 214 1.31 213 11.44 11.70 124 - 131.90 132 7.19 60.11 366 6.84 499.78

High

High Low 1,572.54 1,516.76 Total cos Defaulter cos P/BV (x) ROE (%) 3.23 38.02 Low

Close 1,556.93 Listed cap 1,336.62 mn Payout (%) 131.49

Close Chg

Volume

16.70 16.32 16.37 -0.63 239.89 224.00 236.22 9.22 1.88 1.00 1.55 0.24 12.75 11.15 12.35 0.65 134.00 126.00 126.02 -5.88 62.90 58.81 60.07 -0.04 526.00 490.00 522.88 23.10

5009 88180 188725 190175 7169 21518 696930

90 100 60 20 150 10

20B 20B

2011 Div BR (%) (%) -

-

2010 Div BR (%) (%) 25 50 10 25 25 25B 40 7010B 12.5R 35 20B 10 40 12 10 10 15 10 -

2011 Div BR (%) (%) -

-

14.12 200.00 0.21 10.55 113.00 58.81 437.31

High

High Low 1,023.19 990.10 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64 Low

Close Chg

1.28 0.89 1.27 0.06 4.64 4.01 4.19 0.14 24.18 22.35 22.90 -0.60 2.90 2.20 2.81 0.17 9.80 9.20 9.60 -0.06 12.50 9.50 10.38 -1.15 13.50 12.90 13.50 0.10 1.31 0.31 0.40 -0.29 3.20 3.00 3.08 -0.04 14.60 13.00 13.61 0.50 1.12 0.32 1.00 0.22 1.89 1.62 1.75 -0.08 3.50 2.50 2.75 -0.75 45.00 41.30 43.25 -0.22 3.10 2.25 2.28 -0.92 5.79 4.38 5.00 -0.90 68.25 65.00 68.20 2.16 31.50 27.61 30.10 0.86 7.80 6.90 7.64 0.64 1.10 0.45 0.59 -0.35 4.05 3.76 4.00 0.10 46.50 40.04 45.96 3.82 7.75 5.00 7.74 2.24 3.70 3.40 3.65 0.10 7.00 5.25 6.02 -0.18 3.49 2.49 3.49 0.92 1.25 0.65 0.96 0.17 1.40 1.00 1.00 -0.40 1.98 1.10 1.67 0.08 1.58 0.30 1.30 0.11 5.95 4.82 5.75 0.73 0.60 0.50 0.50 -0.10 1.60 0.99 1.25 -0.13 10.39 4.50 10.16 4.66 16.85 15.70 16.75 0.58 24.14 21.95 23.65 0.93 68.80 62.00 68.14 3.97 10.50 8.90 10.26 1.16 10.25 10.00 10.00 -0.40 30.00 28.10 28.21 -0.09 15.30 14.00 15.30 0.56 1.65 1.26 1.53 0.02 0.99 0.55 0.99 0.10 38.00 35.25 37.65 1.65 4.54 3.90 4.50 0.00 6.00 4.50 6.00 1.00 6.49 5.41 5.99 -0.11 109.00 95.96 109.00 7.99 2.90 2.25 2.66 -0.03 2.30 1.80 2.00 0.00 243.99 228.04 233.54 -6.50 13.68 12.20 13.60 0.20 10.05 7.05 10.00 2.29 23.75 22.60 23.73 -1.27 39.69 35.25 38.09 2.82 132.00 124.60 127.76 -2.49 61.74 57.26 60.63 0.58 4.00 3.49 3.80 0.30 4.00 3.80 3.85 -0.07

Close 1,013.09 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

17.5

10B -

2011 Div BR (%) (%) -

-

Change % Change 1.30 0.13 Market cap 200-Day High 137,340.29 mn Div Yield (%) 200-Day Low 2.37 -

Last 60 days High Low

15001 1.99 2269380 12.45 22425 24.59 30523 3.45 24697929 12.32 106203 17.85 8358 14.50 100874 1.49 376487 3.90 11540 14.60 38803 1.38 493223 2.37 5002 4.50 138525 47.00 11007 3.75 5346 7.44 11893 71.40 5422 31.50 5969 10.30 14004 1.10 85548 4.88 1293852 46.50 46230 7.75 14403 4.50 20081 9.50 8072 5.50 113975 1.25 16199 1.50 66237 2.00 6249 2.00 695168 5.97 14570 0.75 27696 2.08 14239 11.99 14228 17.50 9855718 25.14 22509296 68.80 460469 10.50 6046 11.25 11113 31.03 8476 19.25 459776 1.99 8500 1.45 12431 38.10 116944 6.85 21114 6.00 19959 8.00 14554 109.00 13456 3.43 6007 2.99 25331 276.50 10100 15.09 11108 15.00 5573 25.00 74102 39.69 1072781 132.00 837958 63.30 11500 4.87 38615 4.90

2010 Div BR (%) (%)

2010 Div BR (%) (%)

0.52 4.00 30 19.10 20 1.32 7.5 9.20 8.10 - 15B 10.82 20 0.15 3.00 8.41 10 0.16 1.47 1.75 36.10 5 0.26 1.80 38.30 70 20.99 12.5 6.30 10 20B 0.30 3.35 10 34.05 20 2.85 2.60 10 4.05 20 5B 2.47 0.28 0.51 1.10 0.16 5 4.82 0.14 0.50 4.50 12.80 20SD 17.82 15 48.75 25 45R 5.16 7.65 10 10B 25.00 50 12.51 30 1.26 0.55 31.25 40 3.10 2.01 5B 5.11 - 100R 89.80 50 1.50 5 1.10 169.00 7.56 10 7.00 16.00 20 29.00 50 86.50 80 20B 37.50 2.00 2.35 -

2011 Div BR (%) (%) -

-

PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index

Change % Change 9.08 0.59 Market cap 200-Day High 33,806.12 mn Div Yield (%) 200-Day Low 15.46 -

Last 60 days High Low 19.85 239.89 2.40 14.80 147.89 80.00 526.00

Open

1.21 9.52 4.05 6.36 23.50 0.39 2.64 9.66 0.42 11.53 0.47 13.40 0.69 3.12 0.63 13.11 0.78 1.83 3.50 50.88 43.47 0.18 3.20 0.15 5.90 0.74 66.04 4.32 29.24 0.93 7.00 0.94 0.75 3.90 3.61 42.14 0.66 5.50 3.97 3.55 0.92 6.20 2.57 0.79 0.53 1.40 1.59 0.47 1.19 4.11 5.02 0.60 1.38 5.50 0.86 16.17 1.96 22.72 5.85 64.17 3.47 9.10 0.73 10.40 0.45 28.30 1.17 14.74 1.51 0.89 4.73 36.00 0.36 4.50 2.54 5.00 4.99 6.10 0.93 101.01 0.52 2.69 0.33 2.00 8.00 240.04 0.38 13.40 1.82 7.71 0.78 25.00 0.85 35.27 5.46 130.25 9.65 60.05 0.51 3.50 5.07 3.92

Performance of SR Industrial Engineering Index Open 1,547.84 Turnover 883,544 P/E (x) 8.50

2010 Div BR (%) (%)

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

73.47

Total Assets (Rs in mn)

MA (10-day)

16.37

Total Equity (Rs in mn)

3,615.26

MA (100-day)

13.16

Revenue (Rs in mn)

1,018.36

MA (200-day)

11.66

Interest Expense

1st Support

17.09

Profit after Taxation

47.18

2nd Support

16.94

EPS 09 (Rs)

0.133

1st Resistance

17.50

Book value / share (Rs)

10.21

22,436.60

2nd Resistance

17.76

PE 10 E (x)

27.72

Pivot

17.35

PBV (x)

185.49

1.69

NPL closed up 1.07 at 17.30. Volume was 66 per cent below average (consolidating) and Bollinger Bands were 7 per cent wider than normal.

The company's profit after taxation stood at Rs55.365 million which translates into an Earning Per Share of Rs0.156 for the 1st quarter of current fiscal year (1QFY11).

NPL is currently 48.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NPL (mildly bullish). Trend forecasting oscillators are currently bullish on NPL. Momentum oscillator is currently indicating that NPL is currently in an overbought condition.

NetSol Technologies Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

69.21

Total Assets (Rs in mn)

MA (10-day)

19.07

Total Equity (Rs in mn)

3,337.21

MA (100-day)

18.94

Revenue (Rs in mn)

1,845.02

MA (200-day)

23.43

Interest Expense

1st Support

19.85

Profit after Taxation

951.86

2nd Support

19.60

EPS 09 (Rs)

12.217

3,980.15

1st Resistance

20.35

Book value / share (Rs)

2nd Resistance

20.60

PE 10 E (x)

1.91

Pivot

20.10

PBV (x)

0.47

24.80

42.83

NETSOL closed up 1.04 at 20.17. Volume was 31 per cent above average and Bollinger Bands were 20 per cent narrower than normal. The company's profit after taxation stood at Rs194.76 million which translates into an Earning Per Share of Rs2.64 for the 1st quarter of current fiscal year (1QFY11).

NETSOL is currently 14.0 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions.

Volume indicators reflect very strong flows of volume into NETSOL (bullish). Trend forecasting oscillators are currently bullish on NETSOL.

Nimir Industrial Chemicals Ltd.

Change % Change 33.80 3.00 Market cap 200-Day High 5,277.76 mn Div Yield (%) 200-Day Low 2.36 -

59.40

Performance of SR General Industrials Index

Company

20.50 53.02 6.73 15.47 6.90 5.59 21.73 36.50 13.50 92.50 68.49 7.18 86.10 75.50 14.84 6.99 53.81 3.40 3.89 3.90 15.00 13.50

15.61

PE

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

35143 15868 15327 101737 6510 572322 8666 451205 32859 83332 33962 95986 105283 35843 47712 22453 9827 486500 15000 30500 127835 79110

59.85

GENERAL INDUSTRIALS

Company

Volume

-

1828

Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete

1.24 -0.11 0.00 -1.33 -1.25 0.42 -0.60 -0.10 -0.59 -0.71 1.21 -0.09 11.84 -9.05 -2.78 0.06 -0.49 0.33 -0.29 0.09 0.04 -0.86

9.75

Paid up Cap(mn)

Attock Cement Balochistan Glass Ltd Berger Paints Buxly Paints

19.44 50.46 5.00 11.08 5.50 4.02 20.24 33.21 12.10 88.00 58.73 6.00 86.10 60.36 9.20 6.16 46.49 2.53 3.21 3.09 14.44 10.10

Last 60 days High Low

675

High Low 1,028.67 974.79 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 7.10

-

Change % Change -15.13 -0.89 Market cap 200-Day High 228,732.36 mn Div Yield (%) 200-Day Low 0.81 -

555

CONSTRUCTION AND MATERIALS

Company

Close Chg

Close 1,688.39 Listed cap 11,335.33 mn Payout (%) 30.57

1199 12.16

Open 1,010.11 Turnover 54,742,532 P/E (x) 8.01

-

HOUSEHOLD GOODS Open 1,126.81 Turnover 2,345,472 P/E (x) 2.65

Performance of SR Construction and Materials Index

Al-Abbas Cement

High Low 1,732.63 1,632.72 Total cos Defaulter cos P/BV (x) ROE (%) 11.50 30.30

1.21 3.68 1.12 4.06 7.46 11.20 3.12 3.47 0.61 9.34 22.52 0.90 4.53 0.28 1.28 6.60

Performance of SR Industrial Metals and Mining Index Open 1,094.17 Turnover 714,961 P/E (x) 3.46

2011 Div BR (%) (%)

Performance of SR Household Goods Index

INDUSTRIAL METALS AND MINING

Crescent Steel

65.75 137.00 94.00 1.20 139.74 21.00 4.03 4.00 10.20 220.00 66.75 17.92

15

Dewan Salman

24.85

77.50 197.00 143.80 2.89 212.00 25.27 5.67 5.75 13.40 282.45 77.90 26.00

7.16

273

58225

28054 60298 20082 1884643 110611 401964 201323 12656 212588 114758 441965 5356

72.05

Clariant Pak

Lotte Pakistan

8.34 0.22

2011 Div BR (%) (%)

0.30 4.95 8.75 0.04 12.75 2.09 -0.02 0.10 -0.21 6.83 2.18 -0.40

12.75

9.49 103.94

Mandviwala

23.20 -0.70

7.16

2010 Div BR (%) (%)

76.50 195.42 133.73 2.32 209.00 24.69 4.90 4.20 11.39 259.30 72.00 20.50

103.94

8.12 91.10

22000

22.52

Last 60 days High Low

Volume

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

146476

68 69.50 250 13.90

Engro Corporation Ltd

Close Chg

Change % Change 65.02 4.65 Market cap 200-Day High 330,403.07 mn Div Yield (%) 200-Day Low 5.44 -

-

Change % Change 32.83 2.75 Market cap 200-Day High 44,882.56 mn Div Yield (%) 200-Day Low 4.66 -

89.10 101.16 10.06

Bawany Air BOC (Pak)

Fatima Fertilizer

Low

Close 1,464.06 Listed cap 52,251.88 mn Payout (%) 48.81

40 15

Performance of SR Automobile and Parts Index

Company

Open High Low 1,399.04 1,479.11 1,362.72 Turnover Total cos Defaulter cos 219,106,647 P/E (x) P/BV (x) ROE (%) 8.97 3.14 35.00

2010 Div BR (%) (%)

AUTOMOBILE AND PARTS

-

40262

High Low 768.83 706.26 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53

Performance of SR Chemicals Index

Company

Nishat Power Limited

Performance of SR Industrial Transportation Index

Close Change % Change 1,628.77 79.66 5.14 Listed cap Market cap 200-Day High 65,194.15 mn 1,264,790.77 mn Payout (%) Div Yield (%) 200-Day Low 55.94 4.76 -

Attock Petroleum

11950 2365

Current High Low Change

8,592.23 8,618.44 8,181.35 h232.92

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,549.11 Turnover 62,304,793 P/E (x) 11.76

KSE 30 Index

2010 Div BR (%) (%) 150 650

25B

Open 997.07 Turnover 382,709 P/E (x) 7.44

2011 Div BR (%) (%) -

-

Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) Otsuka Pak Searle Pak

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

PE

Open

9.51 109.74 6.68 87.13 15.36 88.19 8.27 28.94 7.59 32.81 5.62 60.01

High

High Low 1,003.59 968.09 Total cos Defaulter cos P/BV (x) ROE (%) 1.66 22.31 Low

Close Chg

109.85 106.80 108.50 -1.24 89.00 85.00 88.49 1.36 88.00 84.50 85.38 -2.81 30.35 28.00 29.86 0.92 34.40 32.25 34.00 1.19 63.09 59.00 62.51 2.50

Close 989.01 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 38217 9430 151871 64744 26215 71008

Change % Change -8.05 -0.81 Market cap 200-Day High 33,197.07 mn Div Yield (%) 200-Day Low 5.99 -

Last 60 days High Low 112.50 113.00 89.98 30.35 35.15 64.50

89.88 82.20 68.00 23.50 27.50 59.00

2010 Div BR (%) (%) 20 30

20B -

2011 Div BR (%) (%) 15 -

-

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

56.34

Total Assets (Rs in mn)

MA (10-day)

2.00

Total Equity (Rs in mn)

MA (100-day)

1.52

Revenue (Rs in mn)

MA (200-day)

1.71

Interest Expense

1st Support

1.87

Profit after Taxation

2nd Support

1.77

EPS 09 (Rs)

1st Resistance

2.15

Book value / share (Rs)

2nd Resistance

2.33

PE 10 E (x)

Pivot

2.05

PBV (x)

1,694.64 118.91 1,742.80 51.71 4.57 0.021 0.54 3.78

NICL closed up 0.03 at 2.03. Volume was 103 per cent above average and Bollinger Bands were 53 per cent wider than normal. The company's loss after taxation stood at Rs2.377 million which translates into a Loss Per Share of Rs0.01 for the 1st quarter of current fiscal year (1QFY11).

NICL is currently 17.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NICL (mildly bullish).

Trend forecasting oscillators are currently bullish on NICL.

Amtex Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

38.95

Total Assets (Rs in mn)

MA (10-day)

4.17

Total Equity (Rs in mn)

MA (100-day)

10.67

MA (200-day)

11.53

Revenue (Rs in mn)

19,120.15 6,423.46 11,066.13

Interest Expense

1,457.79

1st Support

4.16

Profit after Taxation

2nd Support

4.06

EPS 09 (Rs)

3.025

1st Resistance

4.35

Book value / share (Rs)

730.51 26.60

2nd Resistance

4.44

PE 10 E (x)

9.52

Pivot

4.25

PBV (x)

0.16

AMTEX closed up 0.14 at 4.19. Volume was 81 per cent below average (consolidating) and Bollinger Bands were 88 per cent narrower than normal. The company's profit after taxation stood at Rs27.628 million which translates into an Earning Per Share of Rs0.11 for the 1st quarter of current fiscal year (1QFY11).

AMTEX is currently 63.6 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions.

Volume indicators reflect volume flowing into and out of AMTEX at a relatively equal pace. Trend forecasting oscillators are currently bullish on AMTEX.

BOOK CLOSURES Company

From

To

BOC Pakistan Buxly Paints # TRG Pakistan Shadman Cotton Mills # Kohinoor Mills # Mybank Ltd. # Summit Bank # Ellcot Spin Mills # Prosperity Weaving Mills # Mehran Sugar Mills Dawood Lawrencepur # Habib Sugar Mills Lakson Tobacco # Haseeb Waqas Sugar Mills Nagina Cotton Mills # Sanghar Sugar Mills Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shahmurad Sugar Mills Fecto Sugar Mills Al-Noor Sugar Mills Pangrio Sugar Mills Thal Ind Corp Mirza Sugar Mills Adam Sugar Mills

11-Jan 11-Jan 12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 20-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 23-Jan

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 1-Feb 2-Feb 29-Jan 2-Feb 31-Jan 28-Jan 31-Jan 31-Jan

D/B/R 25.25(B) 10-Jan 15-Jan 10-Jan 10-Jan 19-Feb 10-Jan 15-Jan 10-Jan 25-Jan

INDICATIONS # Extraordinary General Meeting

Spot AGM/Date 7-Jan 10-Jan 11-Jan 14-Jan 14-Jan 14-Jan -

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 27-Jan 28-Jan 29-Jan 28-Jan 31-Jan 28-Jan 31-Jan 29-Jan

7

Monday, January 10, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,148.83 Turnover 18,919,472 P/E (x) 6.15 Paid up Cap(mn)

Company

High Low 1,161.53 1,118.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84

PE

Open

High

Low

Close Chg

Pak Datacom 78 4.88 Pakistan Telecomm Co A 37740 13.00 Telecard 3000 0.65 WorldCall Tele 8606 -

79.80 19.42 2.21 2.90

80.00 19.70 2.28 2.87

78.50 18.96 2.14 2.54

79.00 19.50 2.17 2.71

-0.80 0.08 -0.04 -0.19

Close 1,147.68 Listed cap 50,077.79 mn Payout (%) 62.56

Change % Change -1.15 -0.10 Market cap 200-Day High 79,381.43 mn Div Yield (%) 200-Day Low 10.17 -

Last 60 days High Low

Volume 7460 13475429 1374785 4370809

106.00 20.12 2.69 3.45

76.50 18.21 2.10 2.40

2010 Div BR (%) (%) 80 17.5 1 -

2011 Div BR (%) (%)

-

-

-

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

204 6.67 369 6.12 279 8.00 457 7.34 1250 400 3.56 718 17.29 791 15.70 3000 41.92 350 303 6.75 200 253 4.23 400 2.23

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

Close 1,326.22 Listed cap 95,369.29 mn Payout (%) 104.13

Change % Change 34.25 2.65 Market cap 200-Day High 108,918.82 mn Div Yield (%) 200-Day Low 6.97 -

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

198 11572 6.97 1560 7932 1695 10.99 8803 5.20 3673 3.74 3541 27.90 191 3.54 1367 150 -

0.81 37.41 1.69 2.81 21.78 40.68 16.09 16.23 18.50 2.23 1.05

0.94 38.38 1.86 3.55 22.85 43.40 17.50 17.75 19.00 2.35 1.15

0.73 36.50 1.61 2.75 19.77 39.80 15.55 15.69 18.25 2.15 0.90

0.85 0.04 38.05 0.64 1.73 0.04 3.16 0.35 19.78 -2.00 42.79 2.11 17.07 0.98 17.30 1.07 18.95 0.45 2.21 -0.02 1.05 0.00

100392 6813403 1074256 57628281 99825 5628770 19543479 13774101 16418 1277880 21607

1.45 38.38 2.25 3.55 25.25 43.40 17.50 17.75 22.35 2.80 1.75

0.60 32.97 1.30 2.00 17.95 38.35 11.25 12.30 17.98 2.05 0.65

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

2011 Div BR (%) (%)

7.8R -

-

-

Open 909.37 Turnover 437,834 P/E (x) 6.10 Paid up Cap(mn)

Company

PE

Open

EFU Life Assurance

850 42.33

75.44

New Jub Life Insurance

627 28.19

46.09

Company Sui North Gas Sui South Gas

High Low 1,589.53 1,471.72 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 11.41

Close 1,563.94 Listed cap 12,202.80 mn Payout (%) 66.79

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

8.18 3.30

26.74 21.42

27.78 22.33

25.71 20.55

27.48 0.74 21.89 0.47

733570 1075759

34.75 30.23

25.71 19.95

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Open High Low Close 1,191.64 1,208.76 1,146.39 1,192.35 Turnover Total cos Defaulter cos Listed cap 123,502,925 - 257,548.02 mn P/E (x) P/BV (x) ROE (%) Payout (%) 8.55 1.19 13.94 40.49 Paid up Cap(mn)

PE

Open

Allied Bank Limited 7821 6.98 Askari Bank 6427 8.43 Bank Alfalah 13492 14.26 Bank AL-Habib 7322 8.06 Bank Of Khyber 5004 5.61 Bank Of Punjab 5288 BankIslami Pak 52801005.00 Faysal Bank 7309 4.92 Habib Bank Ltd 10019 7.81 Habib Metropolitan Bank 8732 8.72 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 7602 10.02 Meezan Bank 6983 10.41 Mybank Ltd 5304 National Bank 13455 6.78 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 13.29 United Bank Ltd 12242 7.89

70.15 17.69 11.21 36.26 4.30 9.81 3.63 15.59 121.94 28.99 2.58 2.51 228.54 16.90 2.81 76.82 2.95 1.96 2.62 8.31 8.60 68.23

High

Low

Close Chg

72.99 67.40 71.85 1.70 17.94 16.80 17.70 0.01 11.52 10.71 11.12 -0.09 37.74 35.50 37.40 1.14 4.40 4.00 4.21 -0.09 10.21 9.35 9.93 0.12 4.16 3.40 4.02 0.39 15.85 14.75 15.24 -0.35 126.45 116.80 124.99 3.05 29.10 27.74 28.50 -0.49 2.59 2.40 2.45 -0.13 2.60 2.31 2.43 -0.08 232.00 221.50 225.99 -2.55 20.30 16.46 19.68 2.78 2.95 2.56 2.65 -0.16 78.35 73.22 77.65 0.83 3.30 2.79 3.17 0.22 2.06 1.80 2.06 0.10 2.88 2.55 2.81 0.19 8.30 7.75 7.80 -0.51 8.70 8.15 8.64 0.04 67.94 65.10 67.15 -1.08

Change % Change 0.72 0.06 Market cap 200-Day High 723,017.91 mn Div Yield (%) 200-Day Low 4.74 -

Last 60 days High Low

Volume 2789541 2660408 12272826 1304200 75917 9189159 2146774 1687244 3796438 259156 388566 53523 6711852 4707397 384968 30360197 16349799 441379 16079835 337407 86270 11419967

72.99 18.10 11.52 37.74 4.70 10.59 4.16 17.10 126.45 29.28 3.00 2.90 232.00 20.30 3.10 78.35 3.30 2.65 3.04 8.48 9.04 70.65

51.70 14.50 8.70 31.44 2.57 8.04 2.77 13.50 95.01 18.02 2.25 2.16 193.70 14.50 1.90 63.53 2.59 1.51 2.50 5.61 6.15 52.00

2010 Div BR (%) (%)

-

-

NON LIFE INSURANCE

Paid up Cap(mn)

Company Adamjee Insurance

44153 16544 14578 196547 176882 90921 9709 12152 3055600 310479 99362 5040 28992 5985

High Low 795.35 750.78 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20

Close 785.61 Listed cap 11,111.34 mn Payout (%) 79.54

Change % Change 2.65 0.34 Market cap 200-Day High 48,506.59 mn Div Yield (%) 200-Day Low 6.34 -

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 25.77

87.50

89.80

83.15

88.91 1.41

4477950

91.75

65.55

2010 Div BR (%) (%) 10

2011 Div BR (%) (%)

-

-

-

High Low 912.00 843.09 Total cos Defaulter cos P/BV (x) ROE (%) 3.70 3.85

12.75 39.90 72.90 12.00 48.63 15.39 99.88 60.90 17.20 9.50 12.85 14.53 8.17 7.40

10.00 28.81 47.51 9.45 35.00 10.04 72.01 52.75 13.61 1.96 8.00 11.65 6.01 4.55

10 10 -

25R 10B 20B -

-

UPTO 5000 VOLUME

-

Close 855.49 Listed cap 2,290.72 mn Payout (%) 355.53

Symbols AATM CML DYNO STJT ICL JDMT MUKT ATEL UNIM BATA STCL LAKST ALICO BTL PCAL MERIT NOPK KML SING SGPL AABS GFIL CLOV SZTM JVDC SIBL COLG TSML MSOT FUDLM TREI MODAM SARD FHBM CPMFI FIMM BILF TRSM SCLL JOPP ESBL TRPOL LEUL FNEL IDEN SGML SASML MIRKS PAKMI ULEVER KOHP NESTLE EMCO BCL FFLM GRAYS ISIL AKGL DFSM BWCL THCCL ELSM PECO ICCT MEHT GATI WAZIR GUSM SHTM ANSS QUAT ARM RICL PGCL GLAT GLPL SHJS IDYM UVIC FANM AASM QUET YOUW ALQT CWSM FZTM SUTM TATM FASM MUBD DATM KHSM MUBT KHTC FPJM SFL CRTM LIBM PSEL HUSS SALT ARUJ LMSM SAPL SNAI FTSM ISTM SLYT TICL FZCM PTEC POAF RMPL BFMOD HWQS DIIL NMBL BIFO GAMON FECS BAFS REWM KOHS TOWL GUTM SCL UPFL TSBL ASFL LPGL PHDL WYETH NSRM SFWF

Change % Change -53.87 -5.92 Market cap 200-Day High 9,971.07 mn Div Yield (%) 200-Day Low 3.70 -

High

Low

Close Chg

Volume

Last 60 days High Low

74.90

72.25

74.50 -0.94

179974

86.95

60.00

-

-

-

-

46.50

41.60

42.00 -4.09

183624

49.31

39.95

-

-

-

-

Open 406.57 Turnover 21,601,386 P/E (x) 11.43

High Low 412.72 390.73 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

225

1.55

0.65

0.80

0.33

0.68 0.03

Arif Habib Limited 450 13.30 Dawood Cap Mangt. XB 150 1.72

26.01 1.94

26.65 1.95

24.76 1.50

1.80 2.11

2.00 2.95

1.28 1.15

AMZ Ventures

Dawood Equities Grays Leasing

250 215

-

Close 405.17 Listed cap 30,336.44 mn Payout (%) 99.56

2010 Div BR (%) (%)

2011 Div BR (%) (%)

0.95

0.33

26.06 0.05 1.93 -0.01

347222 6504

28.95 2.14

1.75 -0.05 2.02 -0.09

40342 15498

2.69 2.95

2121 18.13 600 700.00

2.93 7.19

3.90 7.26

2.62 6.86

2849 3166 626 0.67 7633 508 500 7.53 1000 28.04

0.78 3.56 1.89 10.90 4.00 28.21 6.68

0.85 3.50 1.98 11.27 4.30 28.71 7.16

0.62 3.00 1.65 10.36 3.70 26.80 6.20

0.62 3.13 1.88 11.07 4.01 28.00 6.73

-0.16 -0.43 -0.01 0.17 0.01 -0.21 0.05

337489 263028 53421 15761445 1640219 13249 1445356

6.87 2.14 0.55 1.76

6.70 2.23 0.97 1.80

6.10 1.91 0.54 1.75

6.20 2.08 0.68 1.75

-0.67 -0.06 0.13 -0.01

62294 489354 27273 39311

821 775 452 586

4.56 2.73

Last 60 days High Low

Volume

IGI Investment Bank Invest and Fin Sec

Orix Leasing Pervez Ahmed Sec Saudi Pak Leasing Trust Inv Bank

Change % Change -1.40 -0.34 Market cap 200-Day High 18,944.24 mn Div Yield (%) 200-Day Low 3.38 -

219619

Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment

2.90 -0.03 7.00 -0.19

207397 23805

2010 Div BR (%) (%)

2011 Div BR (%) (%)

-

-

24.40 1.05

-

20B -

-

-

1.28 0.18

-

-

-

-

-

-

3.90 8.88

1.50 6.16

11.5

-

-

-

0.97 4.80 2.40 14.05 5.38 32.37 7.59

0.52 3.00 1.05 8.85 2.15 24.25 5.21

10 -

10B -

-

-

7.29 2.70 0.97 2.98

4.70 1.46 0.46 1.24

-

-

-

-

EQUITY INVESTMENT INSTRUMENTS

2011 Div BR (%) (%)

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

Performance of SR Non Life Insurance Index Open 782.95 Turnover 8,546,643 P/E (x) 12.54

0.00 -0.03 3.42 0.48 -1.42 0.89 -3.68 -1.08 0.10 0.98 1.07 0.04 -0.24 0.01

Performance of SR Financial Services Index

Company

Change % Change 37.05 2.43 Market cap 200-Day High 33,454.42 mn Div Yield (%) 200-Day Low 6.69 -

Performance of SR Banks Index

Company

11.00 38.50 70.42 11.75 42.62 14.94 93.21 58.25 16.35 8.99 12.48 13.44 6.81 6.81

FINANCIAL SERVICES

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,526.89 Turnover 1,809,329 P/E (x) 9.99

10.55 37.51 65.00 10.65 41.84 14.01 92.00 56.50 15.70 7.35 11.01 12.05 6.81 6.50

Performance of SR Life Insurance Index

Open High Low 1,291.97 1,346.25 1,260.61 Turnover Total cos Defaulter cos 105,985,011 P/E (x) P/BV (x) ROE (%) 14.94 1.40 9.35 Paid up Cap(mn)

11.25 39.77 72.90 11.99 44.40 15.39 96.00 59.16 16.75 9.50 12.85 14.20 7.45 7.40

LIFE INSURANCE

ELECTRICITY Performance of SR Electricity Index

Company

11.00 38.53 67.00 11.27 44.04 14.05 96.89 59.33 16.25 8.01 11.41 13.40 7.05 6.80

Performance of SR Equity Investment Instruments Index Open 1,350.17 Turnover 15,138,564 P/E (x) 18.48 Paid up Cap(mn)

Company

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

1375 525 780 65 200 113 524 581 760 1008 202 3180 1186 283 1200 1000 250 59 1000 2835 2841 872 454

High Low 1,369.52 1,306.81 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 2.21

PE

Open

High

Low

7.54 1.85 3.68 2.89 1.43 4.00 12.50 0.63 2.21 5.74 25.91 71.50 18.29 1.18 7.50 6.02 5.65 6.88 2.01 8.50 7.45 2.45 4.71

8.31 4.58 1.81 1.25 0.57 2.76 1.50 2.00 3.16 6.70 1.79 5.55 4.77 1.65 7.50 4.13 6.58 8.80 6.56 13.25 6.41 1.10 9.31

9.08 4.80 1.90 1.88 0.64 3.49 2.14 2.16 3.23 7.00 2.96 5.89 5.24 1.79 7.98 3.88 7.58 9.10 6.99 13.30 6.65 1.10 10.29

8.06 4.49 1.60 1.00 0.56 2.75 1.30 1.61 3.01 6.65 1.50 5.22 4.47 1.31 7.40 3.12 6.02 8.50 6.21 12.70 5.90 1.00 9.20

Close 1,359.09 Listed cap 29,771.58 mn Payout (%) 104.74

Change % Change 8.92 0.66 Market cap 200-Day High 18,209.55 mn Div Yield (%) 200-Day Low 8.81 -

Close Chg

Volume

Last 60 days High Low

2010 Div BR (%) (%)

9.05 4.60 1.62 1.27 0.57 3.20 2.00 2.00 3.10 6.66 2.85 5.72 5.12 1.61 7.80 3.85 6.10 8.80 6.91 13.26 6.56 1.08 9.60

690556 607223 60417 33888 87550 13609 879110 602005 509889 54801 31664 4749645 3801187 9623 156522 42259 203600 27712 263260 1219390 818791 240830 10829

9.08 4.80 2.79 1.99 1.10 3.49 2.37 2.28 3.80 7.00 3.69 5.89 5.24 2.23 8.25 4.24 7.74 9.45 7.18 13.40 6.74 1.19 10.29

18.5 2.2 0 1.2 5 17 21 3 5 10 2.8 15.5 15 10 18 10 20 10 3 17

0.74 0.02 -0.19 0.02 0.00 0.44 0.50 0.00 -0.06 -0.04 1.06 0.17 0.35 -0.04 0.30 -0.28 -0.48 0.00 0.35 0.01 0.15 -0.02 0.29

5.85 2.70 0.90 0.90 0.16 1.73 1.03 1.30 2.56 5.80 1.06 2.65 2.31 1.26 5.15 2.40 4.50 7.57 4.83 7.90 3.50 0.81 7.81

2011 Div BR (%) (%)

-

-

-

Open 0.99 2.55 11.20 19.21 34.50 16.00 0.78 17.20 0.08 689.15 8.48 289.92 18.00 46.15 54.82 24.49 26.00 2.94 20.20 1.25 94.90 4.05 73.43 5.00 59.97 4.18 923.00 34.00 20.00 6.15 2.00 1.51 0.90 8.24 4.00 54.00 1.26 1.75 2.84 9.43 2.79 0.63 1.60 8.80 10.00 5.53 9.75 51.60 0.96 4360.17 4.62 2374.86 2.90 44.10 1.74 49.99 76.00 6.45 4.50 21.10 18.88 20.05 249.99 1.26 58.25 42.83 8.79 6.89 0.34 5.00 13.45 15.00 6.60 22.05 7.50 62.50 80.15 328.20 3.38 2.90 33.58 37.98 1.50 7.38 1.17 400.00 36.11 33.03 32.55 4.00 0.50 1.60 0.75 26.97 1.74 129.10 23.72 62.96 168.25 11.00 61.90 5.25 1.50 142.00 46.04 1.39 6.88 4.39 81.26 70.00 2.35 10.35 2109.87 3.30 19.90 12.98 1.60 56.99 1.53 49.51 60.79 9.10 5.08 6.26 18.63 92.11 1105.00 1.75 5.72 14.88 35.73 1051.70 13.17 5.31

High 0.99 2.65 11.80 19.60 35.35 16.90 0.84 18.19 0.95 700.00 9.15 304.41 18.49 48.00 55.74 25.00 27.24 3.72 20.24 1.25 94.90 5.05 78.00 6.05 63.05 4.00 965.00 35.50 20.25 6.15 2.00 1.55 1.10 8.00 4.50 61.19 1.70 1.78 2.89 10.20 2.75 0.71 2.60 9.00 13.88 6.80 11.20 53.00 1.24 4449.89 4.78 2499.99 3.50 45.50 1.80 52.40 78.90 6.50 3.61 21.10 18.25 21.00 262.00 1.99 60.00 44.93 8.89 7.80 0.50 5.10 13.50 15.90 6.60 24.78 7.50 62.70 76.15 311.95 3.99 3.25 40.00 41.79 1.73 8.38 1.64 419.47 37.00 37.50 33.01 3.00 0.57 1.50 1.20 34.39 1.68 129.10 23.05 66.05 170.00 11.00 64.30 5.40 1.50 145.00 48.45 1.39 7.70 4.39 77.20 75.98 2.20 9.78 2226.95 4.00 22.00 15.84 1.79 59.20 2.26 51.40 61.40 9.50 5.34 6.26 21.00 96.49 1111.00 3.25 5.72 16.87 37.44 1100.00 14.00 6.01

Low

Close

0.95 2.17 11.00 19.10 31.35 13.90 0.33 16.00 0.08 640.00 8.00 280.06 17.50 46.15 52.10 22.71 23.95 2.05 19.50 0.70 90.16 3.52 69.84 5.00 56.50 3.35 881.00 34.00 19.30 6.00 1.85 1.30 0.90 7.61 3.10 54.00 1.26 1.75 2.58 7.96 2.36 0.67 1.60 8.00 11.00 5.10 10.00 48.11 0.96 4165.66 4.30 2332.50 2.50 43.76 1.40 49.50 72.20 5.39 3.55 18.10 17.88 19.35 216.60 1.26 57.20 43.40 7.60 6.00 0.30 5.00 13.45 15.90 6.60 21.00 7.50 59.69 62.05 254.06 2.85 2.90 34.00 37.98 1.40 7.00 1.02 379.53 35.50 34.49 32.50 2.75 0.50 1.50 0.75 28.31 1.35 120.00 22.55 62.96 159.60 9.86 58.85 4.55 1.50 140.50 43.60 1.35 6.75 4.02 62.89 70.00 2.12 8.00 2010.00 3.21 19.50 12.82 1.60 53.31 1.32 44.59 58.00 9.01 3.31 4.90 18.00 92.11 1100.00 1.74 4.00 15.87 32.28 1010.00 13.17 5.01

0.95 2.46 11.00 19.25 32.41 14.00 0.82 18.19 0.55 642.71 8.50 298.48 17.50 48.00 52.10 23.00 24.79 2.64 19.50 1.00 94.50 4.00 74.00 6.05 59.12 4.00 935.80 35.50 19.54 6.06 1.90 1.55 1.10 7.62 3.16 61.19 1.68 1.77 2.85 8.00 2.69 0.71 2.47 8.69 13.50 5.93 11.00 50.51 1.01 4353.80 4.60 2471.66 2.89 44.50 1.59 49.85 74.79 6.39 3.61 18.10 18.00 20.50 216.60 1.59 60.00 43.69 8.40 6.48 0.49 5.00 13.50 15.90 6.60 24.70 7.50 62.24 62.05 254.06 3.99 3.25 38.99 39.91 1.73 7.50 1.39 413.61 35.50 37.45 33.01 2.75 0.54 1.50 1.20 34.39 1.68 120.00 23.05 65.00 159.60 9.86 64.30 4.55 1.50 143.50 47.06 1.35 7.25 4.02 62.89 72.19 2.20 8.03 2090.30 4.00 22.00 12.82 1.79 53.31 1.51 46.55 61.40 9.01 5.00 4.90 19.66 95.24 1110.45 3.25 4.00 15.87 34.93 1050.00 14.00 6.01

Change

Vol

-0.04 -0.09 -0.20 0.04 -2.09 -2.00 0.04 0.99 0.47 -46.44 0.02 8.56 -0.50 1.85 -2.72 -1.49 -1.21 -0.30 -0.70 -0.25 -0.40 -0.05 0.57 1.05 -0.85 -0.18 12.80 1.50 -0.46 -0.09 -0.10 0.04 0.20 -0.62 -0.84 7.19 0.42 0.02 0.01 -1.43 -0.10 0.08 0.87 -0.11 3.50 0.40 1.25 -1.09 0.05 -6.37 -0.02 96.80 -0.01 0.40 -0.15 -0.14 -1.21 -0.06 -0.89 -3.00 -0.88 0.45 -33.39 0.33 1.75 0.86 -0.39 -0.41 0.15 0.00 0.05 0.90 0.00 2.65 0.00 -0.26 -18.10 -74.14 0.61 0.35 5.41 1.93 0.23 0.12 0.22 13.61 -0.61 4.42 0.46 -1.25 0.04 -0.10 0.45 7.42 -0.06 -9.10 -0.67 2.04 -8.65 -1.14 2.40 -0.70 0.00 1.50 1.02 -0.04 0.37 -0.37 -18.37 2.19 -0.15 -2.32 -19.57 0.70 2.10 -0.16 0.19 -3.68 -0.02 -2.96 0.61 -0.09 -0.08 -1.36 1.03 3.13 5.45 1.50 -1.72 0.99 -0.80 -1.70 0.83 0.70

5000 4725 4547 4300 4153 4075 4023 4003 4000 3721 3592 3549 3512 3500 3372 3261 3219 3115 3106 3010 3002 3001 2986 2984 2922 2878 2871 2805 2800 2698 2600 2573 2500 2346 2157 2153 2134 2110 2061 2028 2002 2001 2000 1974 1945 1920 1909 1850 1746 1679 1642 1637 1630 1612 1598 1597 1531 1502 1500 1310 1300 1288 1214 1152 1100 1066 1060 1030 1018 1000 1000 1000 972 927 900 856 809 805 774 700 678 620 618 605 542 535 520 507 501 500 500 500 500 500 495 454 420 400 390 380 377 301 300 292 277 264 222 215 203 202 201 200 146 140 137 116 102 94 75 75 73 73 44 39 37 36 31 24 14 11 10 9 7 7

BOARD MEETINGS

Fauji Fertiliser Bin Qasim Ltd

KSE 100 INDEX

National Bank of Pakistan

Dera Ghazi Khan Cement Co Ltd

Company

Date

Time

Media Times Ltd Tandlianwala Sugar Mills Ltd Abdullah Shah Ghazi Sugar Atlas Income Fund Nadeem Textile Mills Ltd Fauji Fertilizer Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd

10-Jan 10-Jan 10-Jan 11-Jan 11-Jan 25-Jan 14-Feb 16-Feb 17-Feb

3.00 5.00 4.00 2.15 5.00 10.30 2.30 12.30 2.30

TECHNICAL LEVELS Company

1st

Adamjee Insurance

RSI 1st 2nd (14-day) Support 60.87 88.10 87.25 52.71 3.20 3.05 Allied Bank Limited 73.08 71.45 71.05 Arif Habib Corp 62.25 26.05 25.50 Arif Habib Limited 48.40 25.70 25.40 Askari Bank 61.79 17.30 16.90 Attock Cement 49.97 62.25 61.65 Attock Petroleum 68.26 341.10 338.60 Attock Refinery 64.73 128.80 126.95 Azgard Nine 40.17 9.50 9.40 Bank Alfalah 58.91 11.00 10.95 Bank.Of.Punjab 54.35 9.80 9.70 Bankislami Pak 73.13 3.90 3.80 D.G.K.Cement 55.31 30.00 29.50 Dewan Cement 51.71 2.15 2.10 Dewan Salman 60.89 3.20 3.15 Dost Steels Ltd 39.47 2.60 2.55 EFU General Insurance 42.15 42.10 41.55 EFU Life Assurance 45.91 73.55 72.65 Engro Chemical 64.10 198.00 194.40 Fauji Cement 47.72 4.95 4.85 Fauji Fert Bin 68.17 37.35 36.20 Fauji Fertilizer 76.21 130.55 128.95 Faysal Bank 53.90 15.10 14.95 Habib Bank Ltd 67.56 124.45 123.90 Hub Power 66.04 37.85 37.65 ICI Pakistan 69.05 149.10 147.85 Indus Motors 57.89 256.05 252.75 J.O.V.and CO 51.46 3.95 3.90 Jah Siddiq Co 44.21 10.95 10.85 Japan Power 50.87 1.65 1.60 JS Bank Ltd 39.48 2.40 2.35 K.E.S.C 65.52 3.05 2.95 Kot Addu Power 71.65 42.40 42.05 Lotte Pakistan 73.09 14.60 14.50 Lucky Cement 49.16 74.80 74.50 Maple Leaf Cement 44.29 2.80 2.75 MCB Bank Ltd 60.87 223.85 221.75 National Bank 71.22 77.10 76.50 Netsol Technologies 69.21 19.90 19.60 NIB Bank 61.76 3.00 2.85 Nimir Ind.Chemical 56.34 1.90 1.80 Nishat (Chunian) 60.01 23.40 23.20 Nishat Mills 71.53 66.85 65.55 Oil & Gas Dev. XD 80.69 178.15 175.60 P.I.A.C.(A) 54.46 2.35 2.30 P.S.O. XD 63.03 293.90 291.20 P.T.C.L.A 54.12 19.15 18.85 PACE (Pakistan) Ltd. 29.52 2.35 2.25 Pak Oilfields 78.67 316.90 312.05 Pak Petroleum 72.55 223.15 220.60 Pak Suzuki 55.46 71.20 70.35 Pervez Ahmed Sec 44.02 2.00 1.95 Pioneer Cement 51.88 6.90 6.85 Shell Pakistan 56.63 205.95 204.95 Sitara Peroxide 46.15 13.00 12.90 Sui North Gas 48.79 27.35 27.20 Sui South Gas 52.82 21.70 21.50 Telecard 42.08 2.15 2.10 TRG Pakistan 26.61 3.25 3.15 United Bank Ltd 61.21 66.35 65.60 WorldCall Tele 45.40 2.65 2.55

Resistance 89.80 90.65

Al-Abbas Cement

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

Brokerage House

Leverage Position

78.22

Support 1

12,298.75

12,162.61

Support 2

12,208.45

MA (10-day)

12,051.08

Resistance 1

12,454.75

MA (100-day)

10,660.47

Resistance 2

12,520.45

10,374.07

Pivot

Rs Recommendations

34.7

Sell

*Arif Habib Ltd

Accumulate Negative

*Arif Habib Ltd AKD Securities Ltd

32.06

TFD Research

29.1

Technical Analysis 68.17 36.75 31.25 30.21 36.92 36.82

12,364.45

KSE 100 INDEX closed up 366.58 points at 12,389.04. Volume was 63 per

AKD Securities Ltd

Brokerage House

Fair Value

Rs Recommendations

Leverage Position Free Float Shares (mn) 326.94 Free Float Rs (mn) 12,567.52 CFS Shares (mn) N/A CFS Rs (mn) N/A CFS Rate N/A ** NOI Rs (mn) 81.86

59.97

Buy

*Arif Habib Ltd

Neutral

AKD Securities Ltd

TFD Research

74.2

TFD Research

71.53 64.68 52.51 51.55 66.07 65.40

Leverage Position Free Float Shares (mn) Free Float Rs (mn) CFS Shares (mn) CFS Rs (mn) CFS Rate ** NOI Rs (mn)

317.2 296.6 281.35

175.80 11,979.01 N/A N/A N/A 83.23

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

78.67 301.62 251.87 240.99 309.90 305.52

*Arif Habib Ltd

AKD Securities Ltd

43.29

Buy

AKD Securities Ltd

TFD Research

36.85

Positive

TFD Research

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

Leverage Position

55.31 30.01 27.18 26.93 30.00 29.88

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

82.1

Buy

61.96

Neutral

92.3

Positive

182.55 5,564.11 N/A N/A N/A 37.86

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

71.22 75.40 66.79 67.81 76.46 75.79

Leverage Position Free Float Shares (mn) Free Float Rs (mn) CFS Shares (mn) CFS Rs (mn) CFS Rate ** NOI Rs (mn)

318.44 24,727.19 N/A N/A N/A 92.77

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

DGKC closed up 0.31 at 30.48. Volume was 102 per cent above average and Bollinger Bands were 47 per cent narrower than normal.

DGKC is currently 13.2 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DGKC at a relatively equal pace.

Trend forecasting oscillators are currently bearish on DGKC.

NBP closed up 0.83 at 77.65. Volume was 41 per cent above average and Bollinger Bands were 41 per cent wider than normal.

NBP is currently 14.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NBP (mildly bullish). Trend forecasting oscillators are currently bullish on NBP. Momentum oscillator is currently indicating that NBP is currently in an overbought condition.

Brokerage House

Hold

*Arif Habib Ltd

Buy

AKD Securities Ltd TFD Research

Fauji Fertiliser Co

Fair Value

Rs Recommendations

Brokerage House

176

Sell

*Arif Habib Ltd

238.8

Buy

AKD Securities Ltd

Neutral

TFD Research

208.75

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

64.10 194.80 180.49 185.36 196.11 196.60

Leverage Position Free Float Shares (mn) Free Float Rs (mn) CFS Shares (mn) CFS Rs (mn) CFS Rate ** NOI Rs (mn)

Fair Value

Rs Recommendations

127.8

Hold

122.1

Accumulate

114.33

Negative

Technical Outlook

Technical Outlook 107.94 34,726.06 N/A N/A N/A 298.04

Rs Recommendations

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

Negative

Leverage Position

Fair Value

Technical Outlook

Engro Corporation

Rs Recommendations

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

Brokerage House

Buy

Technical Outlook

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

Fair Value

Rs Recommendations

42

Pakistan Oilfields Ltd

Nishat Mills Ltd

Fair Value

Technical Outlook

Index will continue to find its 1st support level at 12,298.75 and 2nd sup- * Target price for Jun-11 & **Net Open Interest in future market port level at 12,208.45.

FFBL closed up 2.71 at 38.44. Volume was 600 per cent above average KSE 100 INDEX is currently 19.5 per cent above its 200-day moving average (trending) and Bollinger Bands were 3 per cent wider than normal. and is displaying an upward trend. Volatility is extremely high when compared FFBL is currently 27.4 per cent above its 200-day moving average and is to the average volatility over the last 10 trading sessions. Volume indicators displaying an upward trend. Volatility is extremely high when compared to reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting the average volatility over the last 10 trading sessions. Volume indicators oscillators are currently bullish on INDEX. Momentum oscillator is currently reflect moderate flows of volume into FFBL (mildly bullish). Trend forecastindicating that INDEX is currently in an overbought condition. ing oscillators are currently bullish on FFBL.

Brokerage House

Brokerage House

Technical Outlook

RSI (14-day) MA (10-day) MA (100-day) cent above average and Bollinger Bands were 14 per cent wider than nor- MA (200-day) mal. As far as resistance level is concern, the market will see major 1st Mean resistance level at 12,454.75 and 2nd resistance level at 12,520.45, while Median MA (200-day)

Fair Value

147.48 29,724.91 N/A N/A N/A 135.75

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

76.21 127.25 110.70 110.08 129.09 128.05

Leverage Position Free Float Shares (mn) Free Float Rs (mn) CFS Shares (mn) CFS Rs (mn) CFS Rate ** NOI Rs (mn)

373.19 49,298.38 N/A N/A N/A 282.23

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

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

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

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

NML closed up 3.97 at 68.14. Volume was 31 per cent above average and Bollinger Bands were 34 per cent wider than normal.

NML is currently 32.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NML (mildly bullish). Trend forecasting oscillators are currently bullish on NML. Momentum oscillator is currently indicating that NML is currently in an overbought condition.

POL closed up 25.75 at 321.71. Volume was 176 per cent above average (trending) and Bollinger Bands were 38 per cent wider than normal.

POL is currently 33.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into POL (mildly bullish). Trend forecasting oscillators are currently bullish on POL. Momentum oscillator is currently indicating that POL is currently in an overbought condition.

ENGRO closed up 7.74 at 201.55. Volume was 253 per cent above average (trending) and Bollinger Bands were 31 per cent wider than normal.

ENGRO is currently 8.7 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ENGRO (mildly bullish). Trend forecasting oscillators are currently bullish on ENGRO.

FFC closed up 6.24 at 132.10. Volume was 264 per cent above average (trending) and Bollinger Bands were 197 per cent wider than normal.

FFC is currently 19.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into FFC (bullish). Trend forecasting oscillators are currently bullish on FFC. Momentum oscillator is currently indicating that FFC is currently in an overbought condition.

2nd

Pivot 88.95

3.50

3.60

3.30

72.15

72.45

71.75

27.00

27.40

26.45

26.40

26.75

26.10

18.05

18.35

17.60

63.15

63.45

62.55

346.55 349.50 344.05 132.10 133.55 130.25 9.75

9.90

9.65

11.30

11.45

11.20

10.10

10.30

10.00

4.15

4.25

4.05

30.80

31.10

30.30

2.35

2.45

3.40

3.45

2.25 3.30

2.70

2.75

2.65

43.35

44.05

42.80

75.15

75.85

74.25

204.15 206.80 200.60 5.10

5.20

5.05

39.20

40.00

38.10

133.30 134.45 131.70 15.45

15.70

15.30

125.80 126.60 125.25 38.30

38.60

38.10

152.05 153.75 150.80 264.30 269.25 261.00 4.15

4.25

4.05

11.20

11.35

11.10

1.75

1.80

2.50

2.60

1.70 2.45

3.30

3.45

3.20

43.25

43.75

42.90

14.90

15.10

14.80

75.50

75.90

75.20

2.95

3.00

2.90

228.05 230.10 225.95 78.30

78.90

77.70

20.40

20.60

20.10

3.30

3.45

3.15

2.20

2.35

2.05

24.00

24.35

23.80

69.15

70.10

67.80

182.10 183.50 179.55 2.50

2.55

2.45

299.35 302.10 296.65 19.75

20.05

2.60

2.75

19.45 2.50

324.65 327.60 319.85 228.15 230.60 225.60 72.65 2.15 7.05

73.25 2.20 7.10

71.80 2.05 7.00

207.95 208.95 206.95 13.35

13.55

13.20

27.70

27.90

27.55

22.15

22.40

21.95

2.25

2.30

2.20

3.45

3.55

3.35

67.75

68.40

67.00

2.80

2.85

2.70

Texas insurance commissioner to step down 8 NY may merge

Monday, January 10, 2011

Toyota shifts to defensive gear as insurers move court

TAIPEI: A woman walks into the headquarters of Nan Shan Life, the Taiwan unit of US insurance giant AIG.-Reuters

SECP penalises 3 microinsurers ISLAMABAD: As part of its enforcement and regulatory function, the Insurance Division of the Securities and Exchange Commission of Pakistan (SECP) has passed three orders, fining defaulting insurance companies in December, mainly on the grounds of non-compliance with the statutory deposit requirements.

The department also recovered the penalty amounted to Rs 421,000.

According to a statement issued here, in order to ensure market surveillance,

the Insurance Division is in the process of formulating regulations on microinsurance and developing its legal framework for specialised microinsurance companies.

In this regard a task force has been constituted comprising representatives from the SECP, SBP, IAP, PMN, NRSP, PMN, NGOs, microfinance banks and insurance companies. The first meeting of the task force was held on November 23, followed by its sub-group meeting held in early December 2010.-Agencies

1mn households to have life insurance SUKKUR: Director Benazir Income Support Programme (BISP) Sukkur Region Qasim Bughio has said that one million poor families would get life insurance facility under the BISP and termed it a new year gift from the government to the masses.

Talking to APP here, he said that 150,000 mobile phones have been distributed among the poor families in the first phase in the four districts including Larkana, Musa Khel, Layyah and

Batgram to enable them avail modern mobile phone banking system and get monthly financial assistance in transparent manner.

More BISP beneficiaries will be able to avail the facility, he added.

He said that the BISP registered families would get Rs100,000 within 15 days after the death of their family head under the life insurance scheme.

He said that well over 50 per cent work of the poverty survey had been completed. -APP

KSE insurers gain weight last week TFD Report KARACHI: Positive activities were observed in the insurance stocks last week at the Karachi Stock Exchange (KSE) with near 9 million shares traded together in life and non-life insurance stocks.

Adamjee Insurance was the volume leader with 4.47 million shares fol-

lowed by Pak Reinsurance with 3.05 million shares. Top gainers of the week include, Central Insurance which increased by Rs3.42 to close at Rs70.42 and Adamjee Insurance jumped by Rs1.41 to close at Rs88.91 while New Jubilee Life Insurance fell by Rs4.09 to close at Rs42 and IGI Insurance lost Rs3.68 to close at Rs93.21 to be the major losers.

Belgian KBC takes hit BRUSSELS: Belgium's KBC has increased provisions for bad loans at its Irish unit, with analysts expecting more to come from the bank and peers exposed to Ireland.

KBC Ireland said at its third quarter results in November that it had a loan portfolio of 17.4 billion euros of which 75 per cent were mortgages. At the same time, KBC Group reported an exposure of 500 million euros to Irish sovereign debt.

KBC said it will take additional net provisions of up to 330 million euros ($433.7 million) for losses on Irish loans and for irregularities at KBC Lease UK. Albert Ploegh, an analyst at ING who has a hold rating on KBC, said he was unsure whether the provisions were

enough to draw a line under KBC's Irish problems.

"KBC has now put aside 300 million euros, my own stress test points to 1 billion euros. I've seen others mention 600 million. This announcement was inevitable, but I question whether it is enough. Doubts will remain in the market."

Shares of KBC fell as much as 5.3 per cent in early session but recovered to trade 2 per cent lower at 1410 GMT. In Ireland, where KBC owns KBC Bank Ireland, the banking and insurance group said it will take total net provisions of 263 million euros ($346 million) for its commercial and residential mortgage lending portfolio in the fourth quarter, part of which it has already taken into account.-Reuters

Insurers doubt watchdogs ready for Solvency II FRANKFURT: Many insurers are worried that regulators will not be prepared for administering complex new capital rules designed to make insurers safer, a survey by accounting firm PwC has shown.

"More than 40 per cent of 115 international insurance companies do not believe that the responsible authorities will have the resources necessary for the start of Solvency II," PwC said in a statement released with its survey.

Solvency II rules, effective from Jan. 1, 2013, are supposed to help protect policyholders by requiring insurers better match the risks on their books with the capital they hold to cover those risks. The rules are being hammered out by the new European Insurance and Occupational Pensions Authority, which officially started operations this week. -Reuters

Ping An stocks fall on rumours of fundraising SHANGHAI: Shares of Ping An Insurance (Group) of China Ltd slumped to threemonth lows in Shanghai on market rumours that the country's second-biggest life insurer was planning to raise as much as 100 billion yuan ($15 billion) through a share sale.

Brokerages including Citic Securities Co and Guotai Junan Securities have recently predicted in notes to clients that Ping An, which acquired Shenzhen Development Bank last year, has a capital shortfall of 20-50 billion yuan.

"The figures are based purely on analyst calculations, rather than any information from the company," said Huang Huamin, analyst at Citic Securities, who forecast a shortfall of 30-40 billion yuan.

Speculation is swirling in the market, however, that Ping An may need to raise as much as 100 billion yuan, and that the company may also have suffered from poor investment returns during the fourth quarter of 2010.Reuters

WASHINGTON: Seven automobile insurance firms have followed Allstate Insurance Co in suing Toyota Motor Corp to recover money they paid in claims for car crashes blamed on unintended acceleration of Toyota vehicles.

The insurers' court action has opened a new front in U.S. civil litigation mounting against the Japanese automaker as the company battles to move beyond an auto safety crisis sparked by wide-ranging complaints of Toyotas speeding out of control.

Acceleration problems in Toyotas led to renewed scrutiny from federal regulators, several congressional hearings and a series of worldwide recalls that damaged Toyota's reputation for quality.

The National Highway Traffic Safety Administration is investigating reports that as many as 89 crash deaths since 2000 may be linked to sudden acceleration in Toyotas and the company's luxury-line Lexus vehicles.

Toyota also faces an estimated $10 billion in potential civil liability in U.S. courts for consumer fraud, personal injury and wrongful death claims stemming from acceleration complaints.

The latest lawsuits, filed earlier in

Los Angeles County Superior Court, echo claims in separate cases pending elsewhere that Toyota long ignored and hid a defect that causes some of its engines to surge out of control, and failed to install a brake-override system that would have prevented accidents.

The seven insurers are collectively seeking compensatory damages of at least $188,000, a fraction of the $3 million in losses sought by Allstate in its own filing in October for itself and affiliates.

The seven latest companies to bring such subrogation actions against Toyota are: American Automobile Insurance Co, Fireman's Fund Insurance Co, National Surety Corp, Ameriprise Insurance Co, IDS Property Casualty Insurance Co, Motorists Mutual Insurance Co and American Hardware Mutual Insurance Co. Their suits, brought in three separate filings, come nearly two weeks after it was disclosed that Toyota agreed to pay $10 million to settle legal claims from the family of a California state trooper and three relatives whose fatal car wreck in 2009 helped trigger the automaker's recalls.-Reuters

insurance, banking regulators NEW YORK: New York Governor Andrew Cuomo plans to improve regulation of Wall Street with a smaller state government that would merge the Banking and Insurance departments, Cuomo told a radio station .

Cuomo, a Democrat who took office last week, is expected to outline the new agency in his first State of the State address on Wednesday this week, the New York Post reported, citing an unidentified source familiar with the decision.

"In terms of a new agency to police Wall Street and protect consumers, yes," Cuomo told Talk 1300-AM radio when asked about the report.

Financial regulation typically is the responsibility of the state attorney general, a post Cuomo held for four years when he was the unofficial "Sheriff of Wall Street," a nickname given to his predecessor, Eliot Spitzer.

"I spent four years as you know as attorney general. We did a lot of work on Wall Street with the federal regulators, SEC (Securities and Exchange Commission), et cetera, and also with the state regulators. And I think the state can do a better job, frankly, of regulating and protecting consumers and regulating Wall Street," he said.Reuters

International

9

Monday, January 10, 2011

RISING FOOD PRICES BRING HOST OF POLITICAL RISKS * WORLD'S POOREST TO BEAR BRUNT OF RISES * RISK OF RIOTS, EXPORT BANS, EXPROPRIATION * RISE IN DEMANDS FOR GREATER MARKET REGULATION

R

ecord food prices will hit the world's poorest hardest, raising the risk of riots, export bans, foreign-owned farmland expropriation and further price spikes fuelled by short-term investors. The UN Food and Agriculture Organisation said on Wednesday food prices hit a record high in December and could rise further on erratic global weather patterns. For the first time they outstripped levels reached in early 2008, when spiralling prices prompted riots in countries including Haiti, Egypt and Cameroon and

brought demands for tighter commodity market regulation.

The potential humanitarian, political and business impact -particularly in impoverished states where food makes up the largest component of the inflation basket - is already alarming policymakers and senior officials.

"Food price increases impact the poor hardest as food is a higher proportion of their incomes," said

James Bond, chief operating officer of the World Bank's political risk insurance arm the Multilateral Investment Guarantee Agency (MIGA).

"It creates significant tension in poorer countries, exacerbates standard of living disparities and is a major source of unrest."

The 2008 price spike came to an abrupt end in September that year with the global crash that followed the demise of Lehman Brothers, sucking borrowed money out of markets as lenders called in their debts.

But right now, no one expects that to happen again.

So far, experts say weather-related supply shocks -- floods in Australia, drought in Argentina, dry weather and fires in Russia and potentially crop damaging frosts in Europe and North America -- were largely to blame. But they worry politics and markets could soon take over to produce a vicious circle.

"The danger is that what happens now is that you get a second shock as countries can respond by imposing export bans and financial markets investors pile in for short-term investment, pushing prices much higher, as they did in 2008," said Maximo Torero, divisional director for markets, trade and institutions at Washington DC's International Food Policy Research Institute (IFPRI).

Russia imposed export restrictions last year after fires and drought. In 2008, IFPRI says at least 13 countries including Argentina, Cambodia, Kazakhstan, China, Ethiopian, Malaysia and Zambia imposed either export bans or taxes, further squeezing supply.

POLITICAL RISK INSURERS WATCH Torero said reports of unrest could further fuel price rises, driving speculative investment and promoting panic buying -- even if the causes might often in reality be more complex.

He pointed to reported food riots last year in Mozambique as an example, saying in reality they were as much about subsidy cuts as supply issues.

"Clearly what is needed is to increase production through appropriate investment in agriculture, to increase the information on stocks around the world, strengthen the regulation of the futures markets and to have safety net mechanisms to protect the poorest consumers," he said.

Political risk insurers, who provide protection against dangers such as confiscation or political violence, are watching closely -although they say there has not yet been any direct impact on premi-

ums.

"The potential is there for food riots and also for governments to take action such as embargos on food exports or nationalisation of assets involved in food production or storage in order to protect their people -- not always necessarily for the sake of altruism but often to preserve their position as governments in office," said a senior underwriter in the London political risk insurance market.

The highest risks of farmland expropriation remain in Latin America, insurers say -- particularly Venezuela, Bolivia and Ecuador -- but this is more down to local political factors than rising prices.

The greatest impact of the recent rally could be on land deals in Africa, some suggest.

RISK MITIGATION STRATEGIES The 2008 spike produced a flurry of interest in farmland purchases both from Western funds and richer emerging countries such as China and Gulf states keen to preserve their supplies.

While some deals fell through after the crash, others are now entering production. But they have proved controversial. Local anger over the purchase of Madagascan farmland by South Korean firm Daewoo was seen by some as a contributing factor in the island's 2009 coup.

"The main risks will come where they are in an area where the population is short of food themselves and the deal is seen as being in some way inappropriately negoti-

ated," said Jonathan Wood, global issues analyst at Control Risks. "So many of these projects are in East Africa: Ethiopia, Kenya, Tanzania.

But a lot will depend on the individual deal."

Some investors such as Londonbased funds Emergent Asset Management and Chayton Capital say a key part of their strategy has been to ensure such projects clearly benefit the local community, for example through local milling.

"Smart investors don't own the land," said Bond at the World Bank's MIGA. "They work with contract farmers and see the domestic market as their first and most important market. It makes sense from a risk mitigation strategy." -Reuters

Brent oil lures some big US crude investors S

trength in price, trading volumes and market structure of Brent crude has helped to lure some of the big investment money that has typically favoured U.S. oil futures -- a trend that is likely to gather momentum.

For decades, those who prefer Brent have based their arguments on its usefulness as a benchmark for crude sales in Europe, the Middle East, Africa and Asia -- encompassing major exporters and the fast-growing Chinese and Indian markets.

U.S. crude has been the choice of chiefly U.S.-based institutional investors, such as pension funds, which started moving into commodities in earnest early in the last decade.

The investor presence in futures markets is most obvious in the S&P GSCI, the biggest of the commodity indexes. It still has a dominant

weighting in U.S. energy futures but has increased its exposure to Brent and another European marker, gasoil, effective this week.

"It does make a lot of sense for Brent to be included in the indices, because it's a much more international benchmark and it has not suffered as much in terms of negative yield," said Michael Lewis, head of global commodities research at of Deutsche Bank.

The German bank's Liquid Commodity Index has a marginally higher weighting in Brent than in U.S. crude, also known as West Texas Intermediate, WTI or just TI. John Lecky, a director at Dow Jones Indexes, said its DJ-UBS Commodity Index, a U.S. crude-only index, had seen significant inflows in 2010 and that investors using commodities to diversify investment portfolios were

often "agnostic to the crude type in the index".

But he also said they were interested in having as "many tools as possible to measure and invest in markets". Hence, Dow Jones Indexes and UBS launched the DJUBS Brent Commodity Index in June 2010.

STRUCTURAL STRENGTH In addition to its premium to U.S. crude, Brent has also been structurally stronger, with front-month Brent mostly backwardated since early December -- meaning crude for early delivery is more expensive than that for later delivery.

U.S. crude in contrast has been locked in the opposite structure -- contango -- which saps yields for those indexes, notably those in the S&P GSCI family that roll positions from month to month at the front of

the curve.

This negative roll yield has encouraged innovative approaches even for conservative long-only institutional investors, and one kind of diversification has been to edge towards Brent, whose liquidity has increased.

Based on total futures volumes traded in dollars, the 2010 and 2011 index rebalancings shifted towards Brent, said Michael McGlone, a director of commodity indexing at Standard & Poor's.

"Yes, there has been a volume migration towards Brent," he said, when asked about any shift by institutions.

For 2009, by contrast, Brent and gasoil weightings were cut, he added, because though their volumes rose, U.S. crude rose more.

RELATIVE STRENGTH Brent price strength has been in part a function of U.S. crude

weakness as stocks in the world's biggest oil burner swelled.

Cushing, Oklahoma, is the delivery point for U.S. crude futures, and storage levels at this oil hub can have a big impact on prices and the spread between Brent and U.S. crude. At its height in May 2010, Brent traded at a more than $6 premium to U.S. crude. The gap narrowed as U.S. stocks descended from peaks scaled in September and expectations of economic recovery in the United States led to anticipation of rising demand.

In recent days, Brent's premium has again increased, however, and on Thursday rose to nearly $6 a barrel, the highest spread in seven months, while the U.S. contango deepened to around $1.25.

Like its U.S. rival, Brent also faces local issues.

Production volumes of Brent, Forties, Oseberg and Ekofisk, the four crudes that make up the physical dated Brent crude benchmark that underpins Brent futures trade, are falling steadily.

Supply of Nigerian crudes has also been disrupted, and shipments of Russian Urals crude to northwest Europe are lower this month. Both crudes are priced off Brent, and its rise in part reflects a perception of their tightened supplies.

Asian buyers, regarded as the greatest source of future demand, also have a preference for Brent as a benchmark.

"Brent, in contrast to WTI is seaborne, so it's the sort of oil, which is profiting more from the strong demand in China and other countries," said Eugen Weinberg of Commerzbank.

"Brent is gaining in importance in contrast to WTI as a

world benchmark. It's also accepted more by investors."

Some have argued one of Brent's attractions is that it is not distorted by investmentclass money, which although more actively managed than in the past, still tends to be longonly.

At least for now, Brent's physical strength could outweigh any impact from big investors buying positions for the long term, analysts have said.

Still those who take a long, broad view on commodities as a portfolio diversifier will look beyond any temporary shift in the relative merits of Brent or U.S. crude.

"The bulk is still likely to be in U.S. crude -- but the main choice is probably not Brent or U.S. crude but what kind of index," said one seasoned investor who asked not to be named. -Reuters

After bad start, Hungary takes over EU presidency S

ix days into his sixmonth stewardship of the European Union, Hungarian Prime Minister Viktor Orban conceded on Thursday he had made a bad start. It may well get worse before it gets better.

The beginning of any EU presidency, which passes among the 27 member states for six months at a time, is often fraught, as each administration gets used to having an intense spotlight shone on its organisational skills and policy agenda.

But Hungary has given itself a particularly rough ride.

The passage of a new media law, with potential fines for broadcasters, newspapers and websites that breach a tight set of rules, has been denounced

by Germany, France and Britain and is being examined by the EU's executive, the European Commission.

Major foreign companies have complained about new windfall "crisis taxes" targetting the retail, telecoms and energy sectors, and a separate new levy on banks.

"I agree this is a bad start, who would want to start like this?" Orban told foreign journalists invited to Budapest for briefings at the start of the EU presidency on Thursday, adding that there was little he could do about it.

"Since I cannot change it, I accept it, I'll live with it. I will protect the law. I will protect our national policies," he said, speaking through a translator.

In addition to the uproar over the media law, there is consternation about a policy of offering citizenship to ethnic Hungarians living in neighbouring states, a move that has angered Slovakia, with Orban not ruling out allowing new citizens to vote in Hungarian

elections.

Orban has also broken off talks with the International Monetary Fund on a package of loans, launching a set of unorthodox fiscal policy steps to boost growth, while rejecting austerity measures followed by several western EU members.

He is mired in a dispute with the head of the Hungarian central bank and his government wants to change appointment rules to the Monetary Council in a move widely seen as an attempt to push it into monetary easing.

Orban, who returned to power in April 2010 with his Fidesz party winning a landslide victory at elections, is seen as an uncompromising politician who is willing to go to the wall on issues he believes are crucial to Hungary's national interests.

He said on Thursday that

Hungary would change its much-criticised media law if the EU wants, but also stated that there was nothing in the law that was not in other EU countries' legislation.

"He is never willing to make any compromises except when he is forced to make a compromise. For him the main thing is victory," an EU diplomat in Budapest said.

"There is now a negative spiral, which is no longer based on one single issue -- the media law -- but the overall policies of the Orban government."

In front of the foreign press on Thursday, Orban displayed self-confidence and showed little inclination to back down on any policy. With his Fidesz party holding a two-thirds majority in parliament, he knows he is in a commanding position domestically and can drive through legislation

quickly.

But overseeing the EU agenda is a very different task, particularly at a time of heightened concern over the euro zone debt crisis, with major trading partners such as China, the United States and India looking for the EU to show it has its economic priorities in order and is dealing with them.

It is up to Hungary, in coordination with the president of the European Council, Herman Van Rompuy, to show the EU it has the task in hand -- mistakes or poorly communicated strategy risk further riling financial markets.

"It is unclear whether the antipathy towards the Hungarian government will escalate further or develop into another dimension but it will surely make the central task of the presidency more difficult," said Zoltan Novak, a policy analyst at Meltanyossag

Intezet, a Hungarian think tank. "It will be very hard for a presidency to build consensus on exceedingly contentious issues if there is already opposition to it... The EU presidency is a consensus-building mission, where countries with very divergent interests must be brought together on the same page."

In a reflection of how Orban is regarded from the outside, and how confidently he deals with criticism, he was asked on Thursday what he thought about having his style of governing compared to Russian Prime Minister Vladimir Putin.

He smiled and referred to his last time in office.

"From 1998 to 2002, the Western press said I was reminiscent of Hitler and Il Duce (Benito Mussolini). Now they compare me with Putin and the Belarussian president. I will leave it up to you to decide if it

is progress or not."

"Personally I am not hurt by such remarks, but I think it hurts, it is insulting to Hungary. Hungary is a democratic country."

Orban's political gusto has clearly won him popularity at home, much in the same way that Italian Prime Minister Silvio Berlusconi enjoyed strong ratings before his latest personal scandals, but from an EU policy point of view it is a concern.

"Normally, the six-month EU presidency is a staid and low-key affair," said Constanze Stelzenmueller, a senior fellow at the German Marshall Fund in Berlin.

"But that is clearly too tame for the pugnacious government of Prime Minister Viktor Orban... There can be no doubt that Hungary poses a very serious challenge for the European Union." -Reuters

10

Monday, January 10, 2011

A SNEAK PEEK INTO CRICKET WORLD CUPS T

he world of cricket fans is just few days away from the International Cricket Council's (ICC) flagship event, the World Cup 2011, an event which will be held on a continent that has its fans in every nook and corner of it, the Indian Sub Continent.

India, Bangladesh, and Sri Lanka have been given the honor of co-hosting the prestigious event whereas people of the land and above all fans and fanatics residing worldwide have started to prepare themselves for the grand stage of all events of cricket. Whether it's the T20 format of the game or Test format, the 50-over World Cup event even with the passage of 35 plus years has not at all lost its worth.

The importance of the game is visible not only by the preparations underwent by the managements of the trio countries in upgrading the stadium and other facilities but is also evident from the teams and the fans perspective.

Teams especially belonging

Well keeping aside the present scenario of the game let us do some historical sneak peak and know about the previous world cups, their important aspects and their crown wearers.

World Cup 1975:1975 was the year that for the 1st time witnessed the great gentlemen's game flagship event. The event included 8 nations of the world that is England, Australia, West Indies, India, Pakistan, New Zealand, Sri Lanka, and East Africa.

The event commenced from 7 June and continued till 21 June, witnessed Clive Lloyd lead West Indies become first ever proud owners of the inaugural tournament. Each team in a match was given 60-overs to bowl at that time. West Indies an impressive side at that time who even started the tourney as favorites grasped the title by beating the Aussies by 17 runs.

Whereas in the event most runs were scored by New

cated in 2 groups A and B. The teams were Australia (Group B), England (Group B), India (Group A), New Zealand(Group A), Pakistan (Group B), West Indies (Group A), Sri Lanka (Group A), Canada (Group B).

World Cup 1983:The 3rd World cup event brought luck, happiness and of course the trophy to the Indian subcontinent. Team India who brutally lost all its matches in the last World cup did showed the world that they were not that bad. Just after 4 years Kapil Dev proudly held high the trophy in front of photographers, critics, media representatives, the audience at the stadium and thousands watching the ceremony from their homes and proved that they are not minnows any more.

Young Kapil lead team devastated the 2-time champs West Indies at that time 'The Invincibles' and won the finals by 43 runs. India's over all performance in the whole event was laudable young

competition by the England team who won their Semi Final against India hence breaking their dream of retaining the champ trophy.

But this time good luck was hovering over the Aussie side as it was the 1st ever world cup that was won by Australia.

The most important aspect of the event was the final of the game that entered into a phase of extreme emotion, stress, and enthusiasm as it is the one and only final in which the match was won by just 7 runs. Credit this time went to Allan Border who led his team to an emphatic win overEngland in Eden Gardens, Calcutta.

This was the first time when the format was a bit changed and the overs were reduced to 50 whereas this was the first tourney in which no Man of the series was announced. All the teams who participated in the previous World cup were competing in 1987 again for the Cup. Whereas the event kicked off from October 8th and ended with Border picking

the proud skipper who said good bye to international cricket after bringing and impressive always remembering win to his homeland.

South Africa took part for the first time, and played well, qualifying for the semi-finals.

India, also 1-time champ were defeated by Aussies at Brisbane by mere 1 run, hence a record of the closest ever match ending in a World Cup. Pakistan's Wasim Akram was the most wicket taker who pocketed 18 wickets in the whole series whereas the participating teams were the same except South Africa who made its maiden appearance.

Wills World Cup 1996:The sixth edition again saw the crowning of a new champion this time Sri Lanka, the nation that co hosted the event along with India and Pakistan.

Important facts about the event were that Aussies and the West Indians refused to play their matches in Sri Lanka due to adverse security situation.

Another important aspect of

edition of the game was Australia who grabbed the title for the second time by beating Pakistan in the most efficient and classy way. Pakistan was all out at a mere score of 132 a target which was nothing in front of the tough competitive side if Australia, who effectively finished the match in a commanding way, reaching the total in just 20.1 overs thus winning the match by 8 wickets.

Again 12 teams participated in the event who were divided into 2 groups of 6 each. The teams were Australia, England, India, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies, Zimbabwe, Bangladesh, Kenya, and Scotland. The player of the tournament was Lance Klusener of South Africa whereas the most wickets in the whole tournament were secured by Aussie Shane Warne and Kiwi Geoff Allot, both taking 20 wickets each.

The leading scorer of the event was Rahul Dravid of India

The leading wicket taker was Chaminda Vass of Sri Lanka whereas the Indian little Master Sachin Tendulkar was the highest scorer with 673 runs and grasped his hands on the Man of the Series award.

World Cup 2007:The ninth time the stage was set in West Indies to determine who the best cricketing nation is in the world to take away the precious trophy from the Aussies. But Aussies, who had become Invincible seem to rule at each and every department of the game. For the third time in a row and fouth time in total, Australia remained the World cup holder and became the team to win the most World cups.

Sri Lanka led by Mahela Jayawardene tried their level best to restrict the Aussies from scoring a hat trick win of the world cup but their efforts went in vain and Australia retained their title by winning the match by 53 runs.

The event that started from 13th March and ended on 28th

to the trio host countries have been making their due effective place in the recent matches victories, glory, esteem is all that the 3 nations are collecting for the last couple of months or so.

Records are being made by Bangladesh, Sri Lanka whereas the aspect which was unthinkable was effectively thought, planned and finally done by the Indian side.

Bangladesh knocked out Kiwis and Aussies, whereas the Lankans and Indians rose against 'the Invincible' of the game 'Australia. A peek at the last few months record of the team in almost all aspects is making the other continental teams of England, Kiwis, Aussies, Proteas worry and fear.

Enthusiasm from the fans side is so much so that cricketlovers have started to buy the tickets of the first match between India and England whereas the event still is 96 days away. Management knowing that cricket runs along with the blood of the Asian nation have made important upgrades in their structures, technology, and facilities etc. India's Eden Gardens ground that will become the battle ground for the inaugural match has been massively upgraded to accommodate 100,000 fanatics, definitely a real effort by the Indian management.

Zealander Glenn Turner (333) whereas the most wicket take award went to Garry Gilmour who took 11 wickets in the whole tourney. Aussie Garry Gilmour also became the 1st ever highest wicket-taker in a single match by taking down 6 English players in a semi final match, interestingly the event was hosted by England who were also strong opponents. In a total 15 matches were played between the 8 sides.

World Cup 1979:The 2nd event took place after 4 years and yet again was hosted by England who this time made an impressive attempt to put their hands on the title that they failed to steal from every one in the last year's event but Lloyd's Indies were not willing to give away the trophy that easily, and therefore became the 2-time World champs by beating in fact thrashing the English side.

Lloyd's men gave a handsome target of 286 at the loss of 9 wickets thanks to man of the match Viv Richards who put on the board a lump score of 138. England on the other hand despite having the home advantage was restricted and the whole team collapsed at just 194 in 51 overs. This time thanks goes to "Big Bird" Joel Garner who made Clive Lloyd proud by targeting 5 English men for just 38 in 11 overs.The event this time showcased again 8 teams who were bifur-

Kapil proved that young age is not a big deal, by leading his team even in crisis situation such as in the match against Zimbabwe where the team was trying to stable at 17/5 and Kapil came hit an effective century put on the score board 175 of 138 balls and moved forward to grab the world cup by winning against the Zimbabweans.

Against Indies the Indians did faced difficulty and only pasted a score of 183 but surprisingly all the Indies went back to pavilion for just 140, thanks to the 2 Indian 3-wicket takers, Madan Lal and Mohinder Amarnath who enabled young Kapil to hold up high the trophy with the India name on it.

The event started from 9 June and continued till 25 June, showcased 8 teams, Australia (Group B),England (Group A), India (Group B), New Zealand (Group A), Pakistan (Group A), West Indies (Group B), Sri Lanka (Group A), Zimbabwe (Group B).

World Cup 1987:The year 1987 again brought respect to Asia as 2 most impressive cricketing nations India and Pakistan were cohosting the 4th ICC cricket World Cup but at the same time at least for India ended in a sad note. The defending champs were overwhelmed and cleanly kept aside from the

up the trophy, on November 8.

The winning of the Aussie side was important for them as it was the beginning of a new dawn in their cricketing game.

Craig McDermott of Australia took 18, the highest wickets in the series.

World Cup 1992:Australia and New Zealand jointly holding the tourney didn't know that the cup will not remain in their continent for long as the newest and first time ever champs Pakistan snatched the cup from the Aussies who were thinking of retaining the cup at all costs.

Thanks to the 39-year old Imran Khan who made this Pakistan dream come true by enabling the team win their first ever world cup and hence marking the name permanently on the trophy forever.

The world cup this time was a bit colorful white uniforms were replaced by colored ones white balls were introduced and concept of day-night match was introduced.

Kiwis were considered the hot favorites of the event as they won 7 matches out of the 8 they were bound to play.

Aussies the defending champs were restricted by the emerging champs Pakistan in the semifinals on the criteria of run rate. Whereas Pakistan and England fought for the cup at Melbourne Cricket Ground (MCG) which eventually came in the pocket of Imran Khan

the game was the revolutionizing of the game by the ever strong Lankans who introduced the strategy of always fielding first and chasing the score and in the only match against Kenya that they batted first they scored a massive 398 hence putting a world record.

Lankans were led by Arjuna Ranatunga and included big guns like Aravinda de Silva, Sanath Jayasuriya, Gurusinha, Chaminda Vaas and Muralitharan. This time 12 teams participated in the event and 37 matches were played.

The 3 new teams introduced were United Arab Emirates, Netherlands and Kenya. Sri Lanka grabbed the world cup by impressively defeating Australia in the final at Lahore by 7 wickets. Man of the series was Sanath Jayasuriya whereas Man of the Final match was Aravinda de Silva.

ICC World Cup 1999:The seventh edition included an amendment in the game rules and a new concept of super sixes was introduced that included 6 teams in total with 3 top teams belonging to each group competing for the top 4 spot.

The seventh edition was again hosted mainly by England. But this time few matches were also held in Ireland, Wales, Scotland, and Netherlands.

The winner of the seventh

with 461 score in his account.

ICC Cricket World Cup 2003:The 2003 world cup event was the eighth flagship event of ICC in which the defending champs Aussies defended their championship trophy and disallowed all the other 13 teams to even come close to the trophy hence wearing the crown of the world champs for the third time.

The event, held from February 9 to March 24, was for the first time in the history conducted in African continent with South Africa, Zimbabwe, and Kenya co-hosting the event. A total of 54 matches were played in the event and the event saw major upsets in just the beginning pool matches.

The names of the 14 teams participating in the event are Australia, Bangladesh, England, India, Kenya, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies, Zimbabwe, Canada, Namibia, and Netherlands.

Australia defended their title effectively by winning its final against India in the most prolific way. Australia made 359 for the loss of 2 whereas Indians were white washed and all out for just 234 hence enabling the Aussies to win by a huge 125 run. The classy Punter was the man of the match for his thrashing 140 not out.

April, show cased for the first time 16 teams South Africa, Australia, Scotland, and Netherlands were in Group A whereas Group B constituted of Sri Lanka, India, Bangladesh, and Bermuda.

Group C had New Zealand, England, Kenya, and Canada whereas the last group D consisted of Pakistan, West Indies, Ireland, and Zimbabwe.

The most important incident that shadowed the whole tourney was the sad demise of Pakistan's coach Bob Woolmer, who was mysteriously found dead in his bathroom.

The Man of the Series and the leading wicket taker was Glenn McGrath from Australia whereas the leading scorer was also from Australia that is Matthew Hayden.

With this brief know-how, attention and concentration is now on the current February event, the 2011 World Cup which is for the third time being conducted in the Asian continent with Bangladesh, Sri Lanka and India co hosting the event.

Let's see what comes next since the three hosts are up to the moment the powerful emerging teams who have before the event made their track record pretty impressive hence creating sure problems for the already weakened Punter led Aussies.

Source: sportsencounter.com

Tunisia: eight killed in clashes with police

AL SHEGLA: A voter shows her inked finger and registration card after voting in Southern Sudan Referndum in Al Shegla, Omdurman. -Reuter

Millions vote in South Sudan independence poll JUBA: Millions of jubilant south Sudanese started voting on Sunday in an independence referendum expected to see their war-ravaged region emerge as a new nation.

People queued for hours in the burning sun outside polling stations in the southern capital Juba, where banners described the week-long ballot as a "Last March to Freedom" after decades of civil war and perceived repression by north Sudan.

"This is the moment the people of southern Sudan have been waiting for," Southern president Salva Kiir said after casting his ballot, urging people to be patient as they waited to vote.

"I am voting for separation," said Nhial Wier, a veteran of the north-south civil war that led up to the vote. "This day marks the end of my struggles.

In the army I was fighting for freedom. I was fighting for separation."

Hours after voting started, the celebratory atmosphere was marred by reports of fresh fighting between Arab nomads and tribespeople associated with the south in the contested Abyei region.

The referendum was prom-

ised in a 2005 peace deal that ended Africa's longest civil war, fuelled by oil and ethnicity, between the mostly Muslim north and the south, where most people follow Christianity and traditional beliefs.

In the north, the prospect of losing a quarter of the country's land mass -- and the source of most of its oil -- has been greeted with resignation and some resentment.

Sudanese president Omar Hassan al-Bashir, who campaigned for unity in the run-up to the vote, has been making increasingly conciliatory comments and this month promised to join independence celebrations, if that was the outcome.

President Barack Obama said on Saturday a peaceful, orderly referendum could help put Sudan back on a path towards normal relations with the United States after years of sanctions.

In Juba, actor George Clooney and U.S. Senator John Kerry mingled with dancing and singing crowds.

Voters waiting outside one polling station burst into a rendition of the hymn "This is the day that the Lord has

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International & Continuation

Monday, January 10, 2011

made."

"It is something to see people actually voting for their freedom. That's not something you see often in your life," Clooney told Reuters.

SADNESS IN NORTH In the north, many people appeared to be resigned to the loss of South Sudan.

"We feel an incredible sadness that a ... very loved part of Sudan will separate from us," said northern opposition Umma Party official Sara Nuqdullah.

"We must now work to reassure the northerners in the south and southerners in the north and the tribes in the border zone that they will not be harmed," she said, breaking down in tears.

The vote's organising commission told Reuters it had defied gloomy forecasts of delays to deliver all voting materials on time for Sunday's deadline.

The logistical achievements have not been matched by political progress. Southerners went to the polls without knowing the exact position of their border with the north or how much of Sudan's debt they would have to shoulder after a split.-Reuters

TUNIS: Eight civilians were killed in clashes with police in two provincial towns in the past 24 hours, the Tunisian government said Sunday, the deadliest incidents yet in an unprecedented wave of unrest.

Witnesses said another three people were killed in clashes Sunday in a third town, but there was no official confirmation of those accounts.

People taking part in the unrest, which has lasted for nearly a month, say they are angry at a lack of jobs and investment, but officials say the rioting is the work of a minority of extremists intent on damaging Tunisia.

A leading opposition figure urged President Zine alAbidine Ben Ali to order a cease-fire to prevent further bloodshed.

The government had earlier issued a statement saying two people were killed when police fired in self-defence during overnight clashes in the town of Thala, about 200 km (125 miles) southwest of the capital, near the border with Algeria.

In a later statement it said three people injured in the Thala violence had since died of their injuries and that three people had been killed in separate disturbances in the nearby town of Gassrine Sunday.

"Several government buildings in Gassrine were attacked by groups who set fire to and destroyed three banks, a police station and a filling station and set fire to a police vehicle," the statement said.

"The police fired in the air but the crowds continued and the police acted out of legitimate self-defence, which led to three deaths."

Chokri Hayouni, a witness in Gassrine, the administrative centre of the region where Thala is located, told Reuters by telephone: "Young men are throwing stones and Molotov cocktails and the police are opening fire everywhere in the streets.# Two witnesses in the town of Rgeb, 210 km west of Tunis, said three people there, including one woman, were killed in clashes with police Sunday.

"I saw three dead people with my own eyes," one of the witnesses, union official Kamel Abidi, told Reuters.

Government officials did not respond to phone calls from Reuters seeking comment on the casualties. Staff at the local hospital in Rgeb refused to answer questions.-Reuters

Portugal under pressure to seek IMF-EU bailout BRUSSELS: Pressure is growing on Portugal from Germany, France and other euro zone countries to seek financial help from the EU and IMF to stop the bloc's debt crisis from spreading, a senior euro zone source said on Sunday.

Some preliminary discussions on the possibility of Portugal asking for help if its financing costs on markets become too high have taken place since July, the source said.

No formal talks on aid have started yet, a number of euro zone sources said, but the pressure was rising in the Eurogroup, which brings together euro zone finance ministers.

"France and Germany have indicated in the context of the Eurogroup that Portugal should apply for help sooner rather than later," the senior source said, adding that Finland and the Netherlands had expressed similar views.

Earlier on Sunday a Portuguese government spokesman denied a German magazine report that Lisbon was under pressure from Berlin and Paris to seek a bailout from the European Union and International Monetary Fund.

Many policymakers hope EU/IMF financing for Portugal would ring fence the euro zone debt crisis, in which Greece and Ireland have already taken bailouts.

Help for Lisbon would aim to protect Spain which might be next in line, but whose

financing needs would stretch current euro zone aid capabilities to the limit.

"The real battle will be the battle of Spain -- but there I think we have much higher chances of success," the source said.

Asked to estimate the possible size of a programme Portugal could need, the source said: "More than 50 billion euros (64.5 billion pounds) and less than 100 billion euros, say between 60 and 80 billion, but this is off the cuff, because we don't know the needs of the Portuguese banking sector."

Portugal is viewed by many economists as the peripheral euro zone country that is most likely to follow Ireland and Greece as it grapples to cut its debts and borrowing costs.

"Portugal has not requested it -- you cannot force somebody to want something," a second senior euro zone source said.

"Strictly arithmetically speaking, it would not be necessary, but given the hysterics of some market participants it may become useful."

Pressure on Lisbon to ask for aid has grown since yields on Portuguese paper rose last week to levels that many see as unsustainable, the first source said.

There had already been pressure on Lisbon to ask for financial help before an EU leaders' summit in mid-December, but to no effect, the first source said, because Portuguese Prime Minister Jose Socrates opposes such a move.

"There are still memories in Portugal of the IMF programme of the seventies, and the loss of sovereignty that it entails," the source said.

Asked when Portugal could be forced to turn to the EU and the IMF for help, the first source said this depended on yield developments, the position of Socrates and how much pressure German Chancellor Angela Merkel and French President Nicolas Sarkozy were willing to apply.

Portugal holds its first bond auction of the year next week, offering up to 1.25 billion euros' worth of paper maturing in October 2014 and June 2020.

"That auction will be very closely watched," the first source said. The yield of fiveyear Portuguese bonds on the secondary market is 6.43 percent and 10-year paper trades at 7.26 percent.

The five-year paper is already above the cost of funding that Portugal would get under EU/IMF aid, the source said.

"They had a difficult week on the markets," a third euro zone source said, referring to the surge in yields on Portuguese T-bills at a primary auction last week and secondary market developments.

"The question is if they can raise what they need in the first half of the year with issuance at the longer end of the curve.

Given the busy calendar in the first quarter it is a challenge," the third source said.-Reuters

Scotland-China sign $10mn energy deal LONDON: Scotland and China signed a $10 million renewable energy technology licensing deal on Sunday, the Scottish government said, as Chinese Vice Premier Li Keqiang began a four-day state visit to Britain.

The contract will allow technology pioneered in Scotland to be used to generate power from domestic rubbish at a plant in China, the government said in a statement.

Scottish First Minister Alex Salmond said the agreement was sealed between Sino-Scots

firm Shanghai Huanuan Boiler and Vessel Co/Cochran and Scotland-based W2E Engineering, experts in turning waste into electrical energy via gasification.

The agreement will see W2E providing Shanghai Huanan with some $60 million worth of business per year for 10 years, he said. The work will be carried out in Annan, Dumfriesshire, and at a new facility in China.

"China already has the largest deployment of onshore renewable technology and

Scotland is a world-leader in pioneering the technology and the application of clean, green energy," Salmond said.

Shanghai Huanuan's chairman said the deal would see the creation of new green power stations built in Scotland and in China.

Li, widely tipped to become the next Chinese premier, is due to meet Prime Minister David Cameron and other senior government ministers during his visit to Britain, which is focused on trade and business links. -Reuters

CONTINUATION temperatures with Nawaz Sharif.

Taseer was fiery and often clashed publicly with Sharif and his "A private bill tabled in National Assembly seeking amendment brother, Punjab Chief Minister Shahbaz Sharif. Khosa, on the in Blasphemy Law should immediately be withdrawn," he other hand, is soft-spoken and non-confrontational. But he is an demanded, urging president Asif Ali Zardari to dissolve commitardent supporter of the PPP. tee which had been formed earlier to deliberate on the procedure Continued from page 1 of sentence in accordance with Blasphemy Law. No #7 said PML-N had always extended its support to PPP-led governContinued from page 12 No #2 ment for resolving public issues. location with another individual," Sheriff Clarence Dupnik told He expressed hope that the government would show progress in reporters, saying the gunman "has kind of a troubled past, and 45 days. Furthermore, Prime Minister Gilani telephoned leaders we're not convinced that he acted alone." of various political parties and took them into confidence over Doctors said a bullet passed through Giffords' brain. Despite iniprevailing political situation in the country, media reported. tial media reports she had died, local television networks said late Gilani called MQM chief Altaf Hussain, PML-Q chief Saturday she was awake in her hospital bed and recognized her Chaudhry Shujaat Hussain, ANP leader Asfandyar Wali, JUI-F husband, NASA astronaut Mark Kelly."-Agencies Chief Maulana Fazlur Rehman, PML-F Chief Pir Pagara and othContinued from page 1 ers. According to sources, the Prime Minister exchanged views No #3 According to the estimates, a locomotive of 3000 horse power over political situation in the country besides taking them into generates up to Rs 60 million per annum against Rs50.5 million confidence over the appointment of Punjab governor.

Gilani was of view that all the political leadership would be by the one with 2000 horse power.

He said for maintenance purpose, the spare parts would be taken into confidence after consultation on major decision over imported and 10 to 12 locomotives would be repaired each month national issues. It is relevant to mention here that last week, hoping that it would help a lot to minimize losses of this public Pakistan Muslim League (PML-N) chief Nawaz Sharif gave 72 entity..-Agencies hours to PM Gilani government to give a categorical 'yes' or 'no' response to his stated charter of demands and another 45 days to Continued from page 12 No #4 appeals before tea, was the first to go when he danced down the deliver or face political liquidation. He also made it unequivocalwicket to Rehman only to see the ball slide past his outside edge ly clear that in the event of the government's failure to deliver it and be stumped by Adnan Akmal for three. Brendon McCullum would be the time to seek a "fresh mandate" from the people.

The 10-point agenda, which Nawaz Sharif called a shorter agenwas next to go, though he had could be considered unlucky when he was given out by umpire Rod Tucker for 35 when he was da, does not include the demand for trial of Pervez Musharraf caught by Akmal down the leg side off a Wahab delivery. under Article 6 of the Constitution.

"We are excluding this demand from the shorter agenda because Television replays, however, showed he had not hit the ball with we feel it is out of government's capacity to do the same. I also do the delivery deflecting off his thigh pad.

Coincidentally McCullum was given not out in the first innings not want to give an impression of any personal grudges with Musharraf," Nawaz said. Announcing the immediate short term when replays suggested the ball had brushed his gloves.-Agencies agenda for implementation by the Gilani government, the PML-N Continued from page 12 No #5 chief demanded withdrawal of increase in petroleum prices, The West led by the United States suspects that Iran's nuclear mechanism to control electricity and gas prices and load shedding, programme masks a weapons drive, a charge Tehran vehemently effective measures to control corruption, including ouster of cordenies. On November 23, Salehi had told state news agency rupt ministers and corrupt officers from government departments, IRNA that Iran would produce the nuclear fuel required for a measures to provide relief to masses by checking the price hike. research reactor in Tehran by September 2011.

Continued from page 1 No #8 "By the month of Shahrivar next year (September 2011), we will Special Saving Certificates (Reg) attracted Rs15.13 billion in produce fuel for the reactor," said Salehi, who is also one of Iran's 5MFY11 compared to Rs38.2 inflow was witnessed during vice presidents. -Agencies 5MFY10. Similarly, Regular Income Certificates attracted net Continued from page 1 No #6 fresh investment of Rs16.77 billion against Rs19.72 billion in supporting changes in a blasphemy law. identical period last year.

Choosing Khosa, a close aide of President Asif Ali Zardari and Furthermore, prize bonds attracted Rs11.85 billion against former Attorney General, could mean Zardari is seeking to cool Rs13.45 billion in corresponding period last year.

No #1

Continued from page 12

No #9

Continued from page 1

Moreover, domestic consumers have also turned to extreme usage of gas heaters and geysers carelessly, which has threatened SNGPL transmission System, he said.

Excessive use of gas by domestic consumers has led to the complete suspension of supply to factories and CNG stations for an indefinite period in Islamabad and Punjab, he added. -APP

No #10

Continued from page 1

It may be recalled that Ms Meira Kumar had sent a message of greetings to the Prime Minister on the eve of New Year. Matters of mutual interest were also discussed during the telephonic conversation. NNI

No #11

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biggest weekly selling was witnessed from local individuals, which offloaded $253.31 million of shares in the local bourse against the buying of $238.3 million, thus turning the net selling worth of $15.01 million.Moreover, companies and mutual fund also joined local individual's trend as they net ejected $11.21 million and $10.85 million respectively.

No #12

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China Friendship Centre. The function was held to welcome the 100-member youth delegation from China. Chinese ambassador Liu Jiang and officials of Pakistani ministry of culture were also present. Mushahid said the Sino-Pak ties were only one of its kind due to three strategic reasons.

This is a strategic, friction-free and model relationship between the two neighbours. He said these ties were distinguished due to the exceptional bonds between the peoples and governments of both the friendly nations. "In a scenario when 21st century is an Asian century, China's rise as a world giant is a positive development for peace, stability and development in Asia. This is also more important as the world's balance is shifting from the West to the East," he asserted. The founding chairman of the first Pakistani think-tank on Sino, Pak ties further added that Pakistan China Institute (PCI) would play a lead role in celebrations of the completion of 60 years of Pakistan, China diplomatic relationship. He said the services of the institute would go a long way in harnessing the people-to-people contacts between both the friendly countries. Besides the Chinese youth delegation, hundreds of students from Roots School System (RSS) led by Director RSS Faisal Mushtaq, and from Beaconhouse School System also attended the function and had a direct interaction with the Chinese youth. On the occasion, Faisal Mushtaq said the RSS would launch the first Chinese language classes in Pakistan in February 2011. He said the RSS had already hired the services of two leading Chinese instructors who would be arriving Pakistan soon. He said this would provide the Pakistani students an exclusive opportunity to learn the Chinese language which would be the language of the modern age. -APP

No #13

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Sorouh Real Estate rose 1.2 per cent and Dana Gas added 1.3 per cent.

Abu Dhabi's index ADI rose 0.4 per cent to 2,764 points.

Qatar bluechips were mixed as the index QSI ended flat, equalling Thursday's 27-month high, but further gains are forecast ahead of the country's massive infrastructure build-out leading up to the 2022 soccer World Cup. Industries Qatar fell 0.9 per cent and Qatar National Bank dipped 0.5 per cent. Commercial Bank of Qatar rose 1.3 per cent and Islamic lender Masraf Al Rayan added 1 per cent.The index ended unchanged at 9,020 points, equalling Thursday's 27-month high.

Qatar was looking to spend some $100bn over the next five years, according to some estimates.

Speculators bought into Transgulf Holding, helping Oman's index MSI edge up to a 26-month high. Transgulf climbed 8.5 per cent and accounts for a fifth of all shares traded on the index, which rose 0.3 per cent to 6,950 points, its highest finish since November 5, 2008.

Bank Muscat climbed 0.8 per cent to 1.017. -Agencies

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Fazl calls for withdrawal of BL bill in NA

Thousands protest over blasphemy law change move Staff Reporter/ Agencies KARACHI: More than 40,000 people rallied in Karachi on Sunday against proposed amendments in blasphemy laws.

The massive rally, organised by religious parties, was addressed by Jamat-e-Islami chief Syed Munawwar Hasan, Jamiat Ulema-e-Islam chief Maulana Fazlur Rehman, Jamiat Ulema-e-Pakistan's Sahibzada Abul Khair Zubair, JI Karachi Amir Muhammad Hussain Mehnati and others.

Describing the proposed amendments in blasphemy law as foreign agenda, Syed Munawwar Hasan said the government's move would be resisted at each forum.

He said the movement to protect the law was completely peaceful.

Maulana Fazlur Rehman, while addressing the public gathering at Tibet Center, said "evil forces want their agenda implemented in Pakistan to violate the blasphemy of Prophet (PBUH)".

1st Test Match

Pak thrash Kiwis by 10 wkts HAMILTON: Pakistan completed a thumping 10-wicket victory in the first test over New Zealand inside three days after they had bowled the hosts out for just 110 in their second innings after the tea break.

The visitors had been given a victory target of just 19 runs after they established a 92-run first innings lead earlier on Sunday before left-arm spinner Abdul Rehman was again the principle tormenter of New Zealand's batsmen, taking three wickets for 24 runs and creating enormous pressure.

Rehman, who was named man of the match, also combined magnificently with leftarm pace bowler Wahab Riaz, who ended with three for 38, while Umar Gul mopped up the tail to finish with three for 28.

Mohamam Hafeez and Taufeeq Umar then wrapped up the victory in just 3.4 overs to guide the visitors to 21-0 and a 1-0 lead in the two-match series. The second test begins in Wellington next Saturday.

New Zealand had gone to tea at 33 for no loss, however they crumbled after the break, losing seven wickets for 35 runs.

Tim McIntosh, who was dropped by Taufeeq Umar at first slip off Umar Gul and survived two confident lbw See # 4 Page 11

All Punjab banks told to pay pensions RAWALPINDI: Following the orders of Supreme Court of Pakistan to facilitate the pensioners, the Finance Department, Punjab has issued a letter for payment of monthly pension by all the commercial banks.

Under the letter, pension could be paid from any branch of commercial banks.

According to a press release issued by the Punjab government here, the pensioners have been advised to contact with pension branch of the District Accounts Office Rawalpindi for transfer of their pension and other information.

It said that the concerned officials would extend complete cooperation and in case of any complaint, the pensioners should contact with the administration of accounts office. -APP

Banners at the event included some supporting slain Salman Taseer's presumed killer, police commando Malik Mumtaz Hussain Qadri, who has been praised by religious leaders.

"Mumtaz Qadri is not a murderer, he is a hero," said one banner.

"We are ready to sacrifice our lives for the dignity of the Prophet Mohammad," read another.

Activists at the rally, which has been organised by conservative religious groups, called for "Jihad" or holy war.

Two senior police officers in Karachi said more than 40,000 protesters had joined the rally and more were arriving, while senior police official Irshad Sehar told media that more than 30,000 people were taking part.

Meanwhile, Chief JUI-F Maulana Fazlur Rehman has expressed demand of withdrawal of the private bill that was tabled in National Assembly seeking amendment in Blasphemy Law. Fazal termed government's action against religious institu-

tions and Madaris, allegedly linked to the assassination of Salman Taseer, as 'bad intentions' and 'nefarious designs'.

This he said to a press conference here at a hotel after attending a meeting of the leaders of religious parties on Tahaffuz-eNamoos-e-Risalat organised by JUI-F. Meeting was also attended by JI chief Syed Munawwar Hassan, Sahabzada Abul Khair Zubairi, Maulana Hafeez Jalandhari and others.

Later, talking to media, Maulana Fazl expressed his intolerance over actions being taken by government against religious institutions and Madaris in connection with assassination of Salman Taseer, warning the latter against strong reaction from people.

Citing the recent incidents of violence in Karachi, he linked the incidents with a conspiracy being hatched to discourage people who aim to take out rallies and hold conferences on Tahaffuz-eNamoos-e-Risalat.

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Nato deploys radar jets to Afghanistan KABUL: Northern Atlantic Treaty Organisation (Nato) has decided to deploy AWACS radar planes to Afghanistan to control aerial missions against the insurgents.

Nato military officials believe that Airborne Warning and Control System Planes (AWACS) would greatly help in troops' air strikes to target militants.

The AWACS planes are believed to begin operation in Afghanistan in mid-January.

Officials in Afghan Ministry of Defence said the planes would be part of war technologies that could make it easy to target militants.

"2011 is an important year, because it is the beginning of security transition to Afghans.

So this importance has made the foreign troops make use of some technologies in the war," Defence Ministry Spokesperson, General Zaher Azimi said.

Analysts said AWACS radar plane is a state of the art war plane that could further help to make the conflict wind down quickly.

The planes were planned to be deployed to Afghanistan in June, 2009 but it was delayed due to difficulties in securing the right to fly over some countries.-NNI

Survey says China inflation to last Q3 BEIJING: China's high inflation rate could continue well until the second or third quarter of this year, according to a survey of 56 leading economists.

About 21 percent of the economists surveyed said the current high inflation rate may last until the third quarter, while 58 percent of them said that inflation could ease by the second quarter, the Beijing-based Economic Observer, a weekly newspaper, reported Sunday citing the survey it conducted.

Also, 58 per cent of the economists said inflation would remain high in the first quarter after the consumer price index (CPI), the main gauge of infla-

tion, soared to a 28-month high of 5.1 per cent in November last year.

Economists from the China Jianyin Investment Securities said in the survey that inflation could well peak in June this year, at 6.3 per cent, but the CPI would drop below 4 per cent from October.

About 33 per cent of the economists believe rising international commodity prices and increasing food prices at home will be the two major factors pushing the index higher, while 28 per cent see excessive liquidity in the market as the main reason for the high inflation.-NNI

KARACHI: A large number of the activists of Pakistani religious parties, listen to their leaders during Tahafuz Namoos Risalat (PBUH) gathering and rally on M A Jinnah Road here on Sunday.-Online

5 gas wells blown up in B'stan SUI: Some unidentified miscreants blew up some five natural gas facilities in Dera Bugti district of Balochistan on Sunday morning.

According to a private television channel, some unknown miscreants exploded at least five natural gas installations in Tehsil Sui of the Dera Bugti district, causing intense fire which was being tackled by the local authorities.

After the incident, the security forces cordoned off all entry and exit routes of the Sui town.

Dera Bugti is homeland of all Bugti tribes. Four natural gas fields are working in the district, and the gas is being provided all parts of the country. -NNI

750MW plants ready in Punjab DASKA: 425-MW and 225MW power stations have been established at Nandipur, Gujranwala and Narowal district respectively. These power plants would generate 750 megawatts electricity that would help industry stand up.

In the first week of February, 750 megawatts of power is going to be generated soon by Nandipur, Gujranwala, and Narowal district power stations.

Gepco is providing only 800megawatts power to the consumers, with a short fall of 300 megawatts in the region.

Gepco would get 135-MW of electricity through the two under construction rental power stations in Sialkot.

The requirement of electricity in the region is 1100 megawatts for more than 2.25 million consumers during this season.

Besides ensuring uninterrupted supply of electricity to the local industries in Daska, Sambrial, Pasror, Gujranwala, Gujrat and Sialkot, power generation would be helpful in minimizing load shedding in the region. -Online

45-day time-frame final, says PML-N ISLAMABAD: The spokesman of PML-N, Siddique-al -Farooq has said that the deadline proposed by PML-N was final, warning that in case government failed to comply with PML-N's agenda, the party would seek the opinion of masses.

Talking to a Private TV Channel, he said that PML-N had tabled its agenda to mini-

mum, considering minimum capabilities and benchmark value of PPP, warning that failure of incumbents to comply with the agenda would /could force PML-N to 'refer to masses'.

He warned that PML-N would disband its Punjab government, while the party was already out of federal government.

He made it categorically clear that PML-N was least interest-

Directives on gas load-shedding not being followed

No respite from gas-cuts: Shahbaz LAHORE: Punjab Chief Minister Shahbaz Sharif spoke on Sunday regarding gas loadshedding in the province and said that the prime minister's directives were not being followed.

He said that despite the promises, Punjab was facing gas load-shedding three to four days a week, while there was no such thing happening in other provinces.

Sharif expressed his sorrow over the killing of Punjab

Governor Salman Taseer and said that he hoped that the federal government will soon get a judicial inquiry of the assassination from the Islamabad High Court.

Speaking to the media after the inauguration of a forensic lab in Lahore, Sharif said that Nawaz Sharif has given in a nation-friendly agenda for Pakistan. He said that this will be announced after the ultimatum given to the government comes to an end. -Agencies

Iran says it can produce N-fuel TEHRAN: Atomic chief Ali Akbar Salehi declared in a report that Iran is now capable of making its own nuclear fuel plates and rods, technology the West says the Islamic republic does not possess.

Salehi, the driving force behind Iran's contentious atomic programme, said the country has completed the construction of a facility in the central city of Isfahan to the fuel plates and rods which power nuclear reactors.

"We have built an advanced manufacturing unit in the Isfahan site for the fuel plates," Salehi, who is also acting foreign minister, told Fars news agency in what was said to be an exclusive interview.

"A grand transformation has taken place in the production of

(nuclear) plates and rods. With the completion of the unit in Isfahan, we are one of the few countries which can produce fuel rods and fuel plates."

Salehi said it was the Western policies towards the Islamic republic which had propelled its nuclear achievements, including the making of nuclear plates and rods.

"This is in fact because of West's actions that we came to this point," he said.

"What we say is based on reality and truth. There is no exaggeration or deception in our work. It is them who do not want to believe that Iran has no intention, but to obtain nuclear technology for peaceful purposes."

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ed in portfolios, and it left the federal government over principles, as incumbents had failed to redress the grievances of masses, despite 3 years of power.

He said that since masses were quite aware and mature, hence PML-N would not require much preparation for any forthcoming elections. Online

US Senator in critical state TUCSON: A US congresswoman was in critical condition Sunday after being shot in the head when a gunman opened fire at a public event, killing six people in an attack that shocked the nation.

Representative Gabrielle Giffords, 40, a member of President Barack Obama's Democratic Party, was meeting constituents at a supermarket in Tucson, Arizona, when the assailant unleashed a volley of automatic fire.

A nine-year-old girl and a federal judge were among those killed, and 12 others were wounded.

Obama called the attack a "tragedy for our entire country."

The House of Representatives, which opened under new Republican leadership just three days earlier, called off proceedings for the upcoming week.

Bystanders tackled down the gunman, identified as 22-yearold local resident Jared Lee Loughner. News reports said he had filled the Internet with angry and largely incoherent condemnations of the government, while the army said he had tried to enlist but was rejected.

A Loughner profile posted on YouTube listed Karl Marx and Friedrich Engels's "The Communist Manifesto" and Adolf Hitler's "Mein Kampf" among his favorite books.

"There's some reason to believe that he came to this See # 2 Page 11

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