International

Motion moved in Sindh House against Nisar See on Page 12

Bomber kills 33 Afghan recruits See on Page 12

'Q' ready to give PPP a leg up See on Page 12

*Crude Oil (brent)$/bbl 113.20

*Crude Oil (WTI)$/bbl 99.99

*Cotton $/lb 199.35

*Gold $/ozs 1,423.70

*Silver $/ozs 35.89

Malaysian Palm $ 1,097

GOLD (NCEL) PKR 39,058

KHI Cotton 40Kg PKR 13,611

Yearly(Jul, 2010 up to 10-Mar-2011)

Monthly(Mar, 2011 up to 10-Mar)

Daily (10-Mar-2011)

Total Portfolio Invest (5-Mar-2011)

195.76

-0.19

-4.02

2851

-1.20

0.43

3.29

-0.48

-2.28

0.03

0.21

SCRA(U.S $ in million)

Portfolio Investment

FIPI (14-Mar-2011)

Local Companies (14-Mar-2011)

Banks / DFI (14-Mar-2011)

Mutual Funds (14-Mar-2011)

NBFC (14-Mar-2011)

Local Investors (14-Mar-2011)

Other Organization (14-Mar-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (5-Mar-11)

Inflation CPI% (Jul 10-Feb 11)

Exports (Jul 10-Feb 11)

Imports (Jul 10-Feb 11)

Trade Balance (Jul 10-Feb 11)

Current A/C (Jul 10- Jan 11)

Remittances (Jul 10 - Feb 11)

Foreign Invest (Jul 10-Jan 11)

Revenue (Jul 10 Jan 11)

Foreign Debt (Dec 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Jan 10)

LSM Growth (Dec 10)

GDP Growth FY10EPer Capita Income FY10

Population

$17.37bn

14.33%

$15.33bn

$25.60bn

$(10.27)bn

$(81)mn

$6.96bn

$1.18bn

Rs 765bn

$58.39bn

Rs 5497.4bn

$338.2mn

2.20%

4.10%

$1,051

175.44mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

15.26

2.00

1.70

11.61

PKR/Shares

110.85

130.12

42.64

36.24

39.60

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)

09-Mar-2011

09-Mar-2011

09-Mar-2011

29-Nov-2010

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

14-Mar-2011

13.39%

13.69%

13.86%

14.00%

13.36%

13.54%

13.75%

14.13%

14.26%

14.05%

14.09%

14.08%

14.50%

14.75%

14.93%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 85.40 86.40

Canadian $ 87.00 88.00

Danish Krone 15.50 15.70

Euro 118.40 119.70

Hong Kong $ 10.50 11.00

Japanese Yen 1.016 1.042

Saudi Riyal 22.70 22.87

Singapore $ 66.60 67.60

Swedish Korona 13.25 13.45

Swiss Franc 91.70 92.70

U.A.E Dirham 23.25 23.40

UK Pound 137.50 138.30

US $ 85.40 85.60

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 85.96 86.16

Canadian $ 87.59 87.79

Danish Krone 15.92 15.96

Euro 118.73 119.01

Hong Kong $ 10.95 10.97

Japanese Yen 1.029 1.031

Saudi Riyal 22.75 22.80

Singapore $ 67.14 67.29

Swedish Korona 13.45 13.48

Swiss Franc 91.76 91.98

U.A.E Dirham 23.22 23.28

UK Pound 136.94 137.26

US $ 85.27 85.46

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 31°C 9°C

KARACHI 37°C 19°C

LAHORE 32°C 14°C

FAISALABAD 32°C 12°C

QUETTA 26°C 7°C

RAWALPINDI 32°C 11°C

Weather Forecast

Index Close Change

KSE 100 12,045.38 0.13

Nikkei 225 9,620.49 633.94

Hang Seng 23,345.88 96.10

Sensex 30 18,439.48 265.39

ADX 2,629.41 26.22

SSE COMP. 2,937.63 3.83

FTSE 100 5,809.24 19.43

*Dow Jones 11,958.76 85.64

Global Indices

TOKYO: A man reacts while looking at a stock price board in Tokyo. Reuters

TOKYO: Japan's centralbank pumped a record $184billion into money marketsand took other measures toprotect a teetering economyMonday, as the Tokyo stockmarket nose-dived follow-ing a devastating earth-quake and tsunami.

The benchmark Nikkei225 stock average slid 6.2per cent in its first day oftrading since the 8.9-magni-tude quake centered onnortheastern Japan struck

Friday, triggering enormouswaves that swamped townsand killed thousands.

Earlier on Monday, a mas-sive selloff on the TokyoStock Exchange wiped outsome 23.5 trillion yen ($287billion) from the market'svalue with investors dump-ing stocks as the countryrecoiled from a devastatingearthquake and struggled toavert nuclear disaster.

The selloff triggered See # 8 Page 11

Tokyo stockstake $287bn hit

Japan cbank injects $184bn into money mkt

Economy could tip back to recession: analysts

Qutubuddin

KARACHI: PresidentAsif Ali Zardari called forstructural improvements inthe funding, managementand oversight of educa-tional institutions in theSindh to boost educationboth qualitatively andquantitatively in theprovince at Bilawal Houseon Monday.

He also called upon theSindh government to devel-op its separate power policy

as permission to provincesto develop power projectsunder 50-MW has alreadybeen given in the powerpolicy of 2002

The President made theseobservations during twoseparate meetings that hepresided over pertaining toeducation and power in theSindh province.

The meetings wereattended by Chief MinisterSindh, provincial Ministersand senior federal and

See # 9 Page 11

Sindh to pen itsown power plan

President urges improvements in edu system

Pak clinchQ-finalplace in

World CupKANDY: Asad Shafiqenjoyed a memorableWorld Cup debut as hestroked an unbeaten 78 onMonday to help Pakistanseal their place in the quar-ter-finals with a seven-wicket win over Zimbabwein a rain-shortened match.

Chasing aDuckworth/Lewis target of162 off 38 overs, Shafiq'smature innings and a solidknock by MohammadHafeez (49) steeredPakistan to an easy winwith 23 balls to spare. Theyfinished on 164-3.

Earlier, pace duo UmarGul and Abdul Razzaq rat-tled the Zimbabweans byreducing them to 13-3inside six overs and theystruggled to recover fromthat setback before rainintervened to mercifullyhalt their innings. -Reuters

Deedar Reappointment

SC movedto restrainFederation

ISLAMABAD: SupremeCourt of Pakistan has beenprayed to restrain federa-tion from reappointment ofNab chairman till thedetailed decision is pro-nounced.

The court was informedthat the President had start-ed consultation processwith the prime minister andopposition leader underNab ordinance in connec-tion with reappointment ofchairman Nab without wait-ing for detailed verdict ofSC.

The letters sent by thepresident in this regard havebeen published in newspa-pers.

The petitioner ShahidOrakzai reminded the courtplea was also part of his

See # 12 Page 11

Presidentmeets Ebad,

MalikKARACHI: ‘The policyof reconciliation to con-tinue,’ this was agreedupon during a meetingbetween Governor SindhDr Ebad and PresidentZardari here on Monday.Rehman Malik was alsopresent in the meeting. Sources said that during the

See # 7 Page 11

Midtermpolls only

solution: NisarISLAMABAD: Oppositionleader in the NationalAssembly Chaudhry Nisarhas said that midterm pollsare only way to continue thepresent democratic setup inthe country.

Talking to a private TVchannel here Monday,Chaudhry Nisar stated thatthe government is illiterateof good-governance, addingPPP had only 125 memberswhile they have only 91members. No one has clearmajority in the nationalassembly thus mid-termelections are only solutionof all the crises, he added.

He was of the view that See # 13 Page 11

KESCworkersthreaten

strike after 23Shiraz Ahmed

KARACHI: The CBAUnion of Karachi ElectricSupply Company (KESC)has warned to give a strikecall after March 23, if theirdemands were not met.

The employees held aprotest rally from Power

See # 14 Page 11

Special Correspondent/Agencies

ISLAMABAD: TheFederal Cabinet wasinformed on Monday thatinflation rate during thepast three months has fallenfrom 15.6 per cent to 12.9per cent, while governmentborrowing during the lastsix months has alsodeclined from Rs375 billionto Rs80 billion.

The Federal Cabinetapproved initiation of tech-nical negotiations withChina for acquisition ofconventional submarines tostrengthen capabilities ofPakistan Navy. It also

approved a plan forstrengthening of NationalElectronic Complex to meetneeds of defense and socialsectors.

It ratified agreementregarding aid worth $1.5billion from the UnitedStates under Kerry-LugarBill.

The cabinet approved rec-ommendations of its com-mittee and delisting ofPIA's Roosevelt Hotel inNew York from the list ofentities to be privatised.

The meeting was told thattwo C-130 aircraft wereready to leave for Japan tocarry relief goods and theyare waiting for clearance in

this regard.Briefing media persons

after the Federal cabinetmeeting chaired by PrimeMinister Gilani, Ministerfor Information andBroadcasting Firdaus AshiqAwan said that the cabinetwas also told that govern-ment borrowing during thelast six months has fallen toRs80 billion -- which is 79per cent decline.

The minister said thatSecretary Finance briefedthe Cabinet about reasonsof inflation which includeglobal recession and pricehike of food and non-fooditems.

See # 5 Page 11

Govt borrowsRs80bn in 6M

Cabinet OKs talks with China for submarines purchase

PIA's Roosevelt Hotel in NY delisted from sell-off list PM says devoted to democracy; relief planes for Japan soon

Tokyo-Stock-Shock

Karachi, Tuesday, March 15, 2011, Rabi-us-Sani 9, Price Rs12 Pages 12

UK mutely backedtorture: Musharraf

See on Page 12

ISLAMABAD: PrimeMinister Syed Yousuf RazaGilani has directed thecountry's financial man-agers that fiscal and budget-ary management should betightened so that inflation-ary pressures can be keptunder control.

Prime Minister Gilanisaid this during a meetingwith the Finance MinisterDr Abdul Hafeez Shaikhwho was accompanied bythe Secretary Finance andChairman Federal Board of

Revenue at Prime MinisterSecretariat here on Monday.

Finance Minister DrAbdul Hafeez Shaikhapprised the Prime MinisterGilani about the significanteconomic recovery includ-ing 42 per cent increase inexports in February overlast year, the historic rise inremittances and the high-level of foreign exchangereserve exceeding $17 bil-lion.

Prime Minister Gilani was See # 10 Page 11

PM pushes fortight fiscal rein

Gilani-Shaikh moot means to meet target

LAHORE: Lahore HighCourt Monday ruled that theimmunity issue of RaymondDavis, killer of two inno-cent Pakistani citizens, willbe decided by the trial court,and questioned the govt'sstance saying that it was notclear on the matter.

The ruling came afterDeputy Attorney General

Naveed Inayat Malik sub-mitted a reply on behalf ofthe Ministry of ForeignAffairs to the LHC on theRaymond Davis immunityissue.

Deputy Attorney Generalinformed the court thatDavis was a US citizen whocame to Pakistan on official

See # 11 Page 11

Court refuses tobuy govt story

Trial court to settle Davis immunity: LHC

ISLAMABAD: Supreme Court formed athree-member body Monday to probe1300 cases of loan waivers. The benchwas headed by Chief Justice IftikharMuhammad Chaudhry.

Earlier, Counsel for State Bank of

Pakistan submitted before the SupremeCourt proposals and recommendationsseeking its approval for formation of acommission to recover bank loans.

The two-member bench of Chief Justice See # 6 Page 11

SC sets up loan recovery body

2 Tuesday, March 15, 2011

ISLAMABAD: The gov-ernment is trying torestructure the Board ofInvestment (BOI) byallowing private sector tobe part of the organisationand not the bureaucrats forpromotion of investmentsin the country, said SaleemH Mandviwalla, BOIChairman.

"The BOI cannot be runas a conventional bureau-cratic government organi-zation anymore", he said inan interview.

"We are also trying tocreate special economiczones in Pakistan andincentives would be givento industrial investors whowill come to this zone forinvestment", Saleem HMandviwalla said.

He added that govern-ment would also createindustrial zones inPakistan with incentives atdifferent locations, so thatcost of doing businesswould be reduced in those

zones.He advised to the govern-

ment to de-regulate thepower sector of the countryjust like it did so in the tele-com sector.

"Let everyone generatetheir own power and sell toanyone they like" he saidadding that this flood waterwas a resource and hasbeen wasted, it could haveprovided us the power forthe next 5-year and so thepower sector should be de-regulated to bring a revolu-tion in this sector.

Regarding the invest-ment policies of the gov-ernment, he said, the gov-ernment polices are veryliberal and "there is nodefect in our policies".

"We register companieson fast track basis and inthe registration process weare better than China andIndia and ranked 85th outof around 180 countries indoing business", heremarked.

He said that Indian gov-ernment policies for busi-nessmen are very difficultand it takes time forinvestors to enter theIndian markets.

"We have created localboard of investment inPunjab and Sindh and nowwe are moving towardsKhyber Pakhtunkhwa (KP)and Balochistan in thisregard", he remarked.

"Though the foreigninvestment is less thesedays but we are still betterthan other countries", heremarked.

The Chairman BOI saidthat the biggest sector andopportunity is in agricul-ture sector, which he thinksis unexplored or it has notbeen really looked at by thereal investors who are inthe agriculture business.

He said that it has a vastarea with a number offields and businesseswhich can attract massiveinvestments.-APP

Bureaucratic culturebeing eliminated

from BOI

Special economic zones planned

Staff Correspondent

ISLAMABAD: The TaskForce on Private SectorDevelopment, in its reportreleased here on Monday,identified security crisis,extremism, domesticresource mobilization, real-istic exchange rate con-straints inflation and nar-row industry base as thetop most challenges fornational economy. The taskforce was formed as aforum of public-privatedialogue consisting of 29leaders from government,business, civil society andacademia pressing eco-nomic problems of thecountry and role of the pri-vate sector to steer theeconomy out of crises.

On macro side challengeslike saving investment gap,external shocks like securi-ty situation, and inadequatepublic policy changes inthe current scenario wereunderlined.

The report identified thekey binding constraints toprivate sector led growth

which include low domes-tic savings and vulnerabili-ty to external shocks, lowskills and absence of acompetitive humanresource base and inwardorientation of firms andlow technology content.

The task force in its find-ings asked for rationaliza-tion and expansion of thefiscal base with the goal toincrease tax to GDP ratiofrom the current 9 percentto 17 percent over a periodof 5 years.

It asked for developingan institutional and analyt-ic framework to guide theprocess of fiscal decentral-ization and removing theanti export bias in the man-agement of the economyand move towards exportled growth.

The report asked forimplementing a wellfinanced program toimprove and develop theinfrastructure base of theeconomy, improving edu-cational and skill base forthe economy by setting upinstitutional mechanism for

implementing the recom-mendation of the task forcein overseeing the processof implementation.

The report also empha-sised that in order to takeaction on the agenda devel-oped by the task force thegovernment with the helpof the donor communityshould undertake the initia-tives as next steps byreviewing of the trade poli-cy with a view to placinggreater focus on export-ledgrowth, inventory of subsi-dies granted to the privatesector with a view to theirrationalization.

It also asked for launch-ing a public awareness pro-gram to create a con-stituency for reforms lead-ing to a new social compactfor the country. Speakingon the occasion, DeputyChairman, PlanningCommission Dr. Nadeem-ul-Haq stressed on trans-formation of economyfrom state managed to pri-vate sector driven growthstrategy, with marketreforms, privatization and

institutional restructuringin order to re-direct econo-my toward a fast growingeconomy.

He also emphasised therole of state, in future, to bea facilitator rather than aregulator. Fact remains thatprivate sector without rightset of public policieshuman capital andimproved governance, cannot bring efficiency andgrowth in the era of globalcompetitiveness, he said aswell.

Hence, Deputy Chairmanexpressed that a paradigmshift is required from proj-ect based approach in thebureaucratic and politicalcircles to reform basedapproach so as to enhanceproductivity and accelerateGDP.

Likewise he observedthat an intellectual move-ment led by forward look-ing think thank is essentialto develop consensus forreforms among all stakeholders in order to putPakistan economy on sus-tained growth trajectory.

Security, extremism topchallenges for economy

Task Force identifies

ISLAMABAD: ThePakistan Economy Watch(PEW) on Mondayexpressed concern overincreasing secret financialrelationship between doc-tors and pharmaceutics.

It called upon governmentand civil society to launchawareness programmes forpatients as many doctorshave lost professionalism tocommercial priorities whichis jeopardising health ofpatients, it said.

Those who need medicalcare are made to pay for thekickbacks without knowingit, said Dr. Murtaza Mughal,President PEW. Many doc-tors are involved in over-medication, prescription ofcostly and substandard med-icines and undesirable teststo get commission, he said.Doctors were found reluc-tant to disclose reception ofgifts and monetary arrange-ments and with the pharma-

ceuticals which proves ille-gality of the practice.

Hundreds of sub standardcompanies are pumpingtheir medicines into market.

Even owners of medicalstoreowners have estab-lished companies producingdrugs with possible fatalconsequences, said Dr.Murtaza Mughal.

Some businesspersons areimporting medicineslabelled as food items andselling them through doc-tors with the connivance ofregulators.

Some greedy practitionersmay be causing serioushealth problems, uninten-tional disabilities and deathsthat merits probe.

Organised crime againsthumanity should bestopped in medical profes-sion, healthcare institu-tions, private clinics, andpharma companies, hedemanded.-Online

PEW concerned overdoctors, pharma cos

financial ties

Patients suffer

FAISALABAD: The gov-ernment is pursuing avision of an integratedvalue chain, adding thefullest value to the coun-try's agriculture potentialby serving domestic needsas well as high valueexports through a well-planned industrial struc-ture, product diversifica-tion and institutionalframework.

This was stated byShahid Rasheed, SecretaryMinistry of TextileIndustry, while inaugurat-ing the first internationalconference on "ValueAddition and Innovation inTextile," COVITEX 2011,at National TextileUniversity (NTU) here onMonday.

He said that a major tar-get was to enhance value ofcotton by 100 percent fromUS$ 1000 per bale to US$2000 per bale throughvalue addition over thenext four years.

He said that the govern-ment had announced thefirst ever 5-year textile pol-icy in September 2009.Year 2011 has also beendeclared as the Year ofTextiles by President AsifAli Zardar, he said andadded that the governmentdespite a crunch was pur-suing a programme toextend direct financial sup-

port to the textile sector. Itdisbursed an amount ofRs9.75 billion in year2009-10 and has now allo-cated Rs7.5 billion duringthe current financial year of2011-12.

Shahid Rasheed said thatthree garment cities wereplanned at Faisalabad,Lahore and Karachi to pro-mote value addition byproviding sate-of-the-artinfrastructural facilities toindustries. He said that theFaisalabad Garment City(FGC) had been estab-lished at Rs498 million andstarted its operation where-as it was near completionin Lahore.

He said that the Presidenthad performed the groundbreaking ceremony ofKarachi Garment City onJuly 23 last year and workis in full swing. He saidthat progress had alsobeing made to establish asimilar mega project ofPakistan Textile City overan area of 1250 acres atKarachi near Port Qasim.

The Secretary Ministryof Textile said thatStitching MachineOperator Training (SMOT)programme was being suc-cessfully run in collabora-tion with industrial units atKarachi, Lahore,Faisalabad andRawalpindi.

"It will help overcomedeficiency of skilled laborin the garment industry," hesaid and added that about8,000 operators had beentrained through the pro-gramme while the govern-ment planned to trainanother 500,000 workers invarious skills over the next5 years at a huge sum ofRs5 billion.

He said that a GarmentTechnology TrainingCenter (GTTC) is alsobeing established atKarachi in collaborationwith technical and finan-cial assistance of KoreaInternational CooperationAgency.

He said it will providemodern and cutting edgefacilities to the garmentsector and this center isexpected to become opera-tional in September 2011.

Earlier, ExecutiveDirector, Higher EducationCommission (HEC) Dr.Sohail Naqvi in his addressexplained efforts made byHEC in bringing quantita-tive as well as qualitativeimprovements to the edu-cation sector. He said, "Wecould effectively faceemerging challenges withinvestment in research andeducation sectors." He saidthe focus of HEC was toproduce job creators, notjob seekers. -APP

'Textile potential tobe exploited thru

high value exports'

Staff Reporter

KARACHI: The HomeMinister's ComplaintCentre is set to entertaincomplaints related to `blackmarketing and adulterationof food items under relevantlaws' in Sindh.

This was stated by anofficial of the ConsumerForum Pakistan onMonday.

It was pointed out that theunderstanding was reachedat a meeting held here atHome Minister's Office. Athree-member delegation ofConsumer Forum led by itsPresident,Huma Bukhari,met with the Consultant onHome Affairs Sharfuddin

Memon, in connection withthe "World Consumer'sDay" being observed today.

Huma Bukhari spelled outthe aims and objectives ofConsumer Forum Pakistanwith reference to the WorldConsumer Protection Dayand observed that the healthand safety of the consumerswere at serious risk due tofree availability of sub-stan-dard food products in mar-kets. She emphasised thatconsumers were the largesteconomic group in thecounty's economy.

Sharfuddin Memoninformed the delegationabout the functioning ofHome Minister's ComplaintCenter.

Cell to checkblack marketing,

adulteration

Financialassistancefor SSUET

studentsKARACHI: The 39thBoard of Governors' meet-ing of Sir Syed Universityof Engineering andTechnology (SSUET) washeld at its campus here todiscuss and review variousissues, programmes andproposals for approval.

Vice Chancellor Prof. Dr.Saiyid Nazir Ahmedpresided over the meetingwhich also reviewed indetail the arrangementsregarding 14thConvocation to be held onMarch 19.

The Board approved theproposal of Ihsan Trust forfinancial assistance toSSUET students.

Accordingly, Ihsan Trustthrough Meezan Bank willprovide interest-free softloan to SSUET studentsselected by the Universityon merit-cum-need basisfor continuation of theirstudies.-APP

EtihadAirways

competitionwinners

TFD ReportKARACHI: EtihadAirways, the national air-line of the United ArabEmirates, has concluded aspecial "Valentine's Offer"promotion in conjunctionwith Butlers ChocolateCafé, Karachi.

The competition, whichcommenced on February 7and ran throughout themonth, was open to allchocolate lovers who madea purchase at the ButlersChocolate Café inZamzama. The competitionwinners, announced thismorning at a special eventat the cafe, received tworeturn tickets in Etihad'saward-winning CoralEconomy class fromKarachi to Abu Dhabi.

Etihad Airways andButlers Chocolate Cafésaid the response to thepromotion was over-whelmingly positive.

Amer Khan, EtihadAirways' Country Managerin Pakistan, said: "AbuDhabi, with its luxuryaccommodation and diningoptions, rich cultural her-itage and increasingly pop-ular tourist attractions, is aperfect destination for cou-ples wanting to experiencea romantic getaway.

FAML among

"Pakistan Fast

Growth 25"TFD Report

KARACHI: AllWorldNetwork recentlyannounced winners of thePakistan Fast Growth 25, aranking of fast growthentrepreneurial companies.Faisal Asset ManagmentLimited (FAML) is amongThe Pakistan’s FastGrowth 25.

As a group, Pakistan 25broke AllWorld recordsfor entrepreneurial intensi-ty. The top performers,who made the Pakistan 25,posted a blistering 81%annual growth ratebetween 2007 and 2009with an average size of350 employees per compa-ny, and since their incep-tion created 12,000 jobs.

SECPregisters

23 cos ISLAMABAD: TheSecurities and ExchangeCommission of Pakistan(SECP) registered 23 com-panies having foreigninvestment in February,2011. In addition, one for-eign company was also reg-istered during the month.

Out of the 23 companies,six have investment by for-eign nationals from China,five from the US, two fromSouth Korea and theremaining one each fromTurkey, Sweden, Malaysia,UK, Denmark, Romania,UAE, Afghanistan, Iran andCanada. Seven companieswere registered inIslamabad, three in Lahore,11 in Karachi, one each inPeshawar and Multan.

The sector-wise breakdownshows that four companiesbelong to trading sector,three each to services and IT,two each to transport, textile,mining, corporate agriculturalfarming and one each topower generation, construc-tion, chemicals, pharmaceuti-cals and printing.

In addition, one foreigncompany of the US originwas also registered duringthe month.-INP

KARACHI: President Asif Ali Zardari presiding over a meeting to discuss the reactivation of abandoned gas fields in Sindh

province held at Bilawal House.-APP

KARACHI: Prominent dress designer Zahra Sayeed's,

16th exhibition of designs was held at Grandeur, Zamzama

recently. Photo shows designer with Nishmia Ahmed,

Aamira Rizvi and Samia.-Staff Photo

KARACHI: The Ambassador of Japan Chihiro Atsumi,

was chief guest at Pak-Japan Business Forum annual gen-

eral meeting at Kalim Farooqui"s, residece. Picture shows

Chairman PJBF Abdul Kader Jaffer, Japan Consul

General Sato, Majyd Aziz, A. Sattar, Aziz Memon and

Salauddin Haider, with other guests-Staff Photo

TV PROGRAMMES

TUESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:00 News

11:30 Aap Ki Baat (Rpt)

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Aap Ki Baat

19:00 News

19:05 Hal Kya Hai

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With Jasmeen

23:00 News

23:30 24

GOVERNMENT OF SINDH

CULTURE DEPARTMENT PLAN-

NING,DEVELOPMENT,MONITO R-

ING,

IMPLEMENTATION & EVALUA-

NOTICE INVITING TENDERS

Karachi, dated: 11th March, 2011

Sealed tenders are invited on B-1 form for the work mentionedbelow from all interested contractor/firms under PRA Rules 2010.

1. Blank tender forms will be issued on payment of tender fees (Non-Refundable) specified against each work. The tender will be received backand open before the Technical Committee in presence of contractors or theirauthorized respresentatives who wish to be present on the following scheduleddate and time.

2. The tender documents can be obtained from the undersigned on paymentof tender fee under rules upto 05th April 2011. Conditional tenders and ten-ders without earnest money will not be entertained.

3. The tender will be received back on next day i.e 30th March 2011 at 02:00PMand will be open on the same day after one hour in presence of the intendingContractors on the next day if the quorum of the committee is not completed.

4. The intersted parties can see the site on any working day.5. The Technical Committee reserves all rights to accept or reject all or any

tender without assigning any reson thereof as PPRA rules guide.NOTE: The NIT will be seen on the website on www.sindh.gov.pk ofGovernment of Sindh, and SPPRA website www.PPRA Sindh.gov.pk.

NAME

OF WORK

Establishmentof Dolah

Darya KhanAmusement

Park at Thatta.

Eamest

Money

Tender

Fee

Time for

Completion

Estimated

Cost

(Rs. In Million)

48.000 960,000 3,000 24-Months

S.#

1.

INF-885

(SHAHZOR ALI TEBANIDIRECTOR PLANNING, DEVELOPMENT,

MONITORING & IMPLEMENTATION CELL

CDCs facilitate

72027 personsISLAMABAD: TheCommunity DevelopmentCenters(CDCs) workingunder Ministry of SocialWelfare and SpecialEducation (MoSW&SE)provided services to 72,027persons during last fiscalyear through its 24 centerslocated all over the coun-try.

Official sources told APPon Monday that among thetotal number of beneficiar-ies, 50046 were facilitatedunder Mother and ChildHealth Project, 6376 gottraining from vocationaltraining centres, 11939availed the facility ofRecreational Centresincluding both male andfemale, 2180 were enrolledin adult literacy centres and1486 persons benefittedunder other projects.-APP

Hot, dry weather forecast for Sindh

ISLAMABAD: Pakistan Meteorological Department onFriday forecast hot and dry weather for most parts ofSindh and coastal areas of the country, with rise in tem-perature up to 38-40 degrees Celsius, during this week.

Talking to APP, Director National Weather ForecastingCentre, Muhammad Hanif said most parts of Sindhprovince especially Karachi, Hyderabad, Nawab Shahand Mirpur Khas are likely to experience hot weatherconditions in the coming days.

He said the day temperature is likely to increase 3-6degrees Celsius in Sindh and Balochistan.-APP

Climate Change Policydraft reviewed

ISLAMABAD: Director General Environment, Javaid AliKhan has said that climate change is a burning issue andPakistan is the most vulnerable county for it. He said thiswhile chairing a meeting of Climate Change Policy Draft reviewcommittee while Executive Director JCISC, Dr. Arshad, ChiefEnvironment, Planning Commission, Dr. Aurangzeb, LeadConsultant on Climate Change, Ch. Qamar-uz-Zaman and otherEnvironmentalists were present on the occasion.-NNI

MUMBAI: The Indian rupeeended stronger on Monday onthe back of robust local shares, aweak dollar overseas and loweroil prices, and traders expectdollar inflows to support thelocal unit in the near term.

The partially convertiblerupee ended at 45.06/07,against Friday's close of45.24/25. It had moved in arange of 45.05-45.23 duringthe day.

"The rupee can test 44.90levels again in the next coupleof days. We can expect some(dollar) flows to Indian mar-ket," Hari Chandramgathan, asenior foreign exchange dealerwith Federal Bank, said.

Foreign institutionalinvestors have withdrawnshares worth about $1.84 bil-lion from India since the startof 2011 till March 11.

Traders said the rupee willalso take cues from the centralbank's policy on March 17,when it is widely expected toraise policy rates by a quarterpercentage point for the eighthtime in about a year, to tameinflation amid strong growthmomentum.

The one-month onshore for-ward premium was at 30.75points, higher than Friday'sclose of 28.75 points, while thethree-month premium rose to81.25, from 79.50 points. Theone-year premium was at280.00, higher than 277.00 onFriday. The one-month offshorenon-deliverable forward con-tracts were quoted at 45.32,weaker than the onshore spotrate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, the MCX-SX andthe United Stock Exchangewere at 45.2075, 45.2050 and45.2100, respectively, with thetotal traded volume at about$7.2 billion. -Reuters

Indian rupee gainson strong shares

3Tuesday, March 15, 2011

Currencies Rate

Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 14/03/2011

A USD GBP CAD EUR JPY

O/N 0.21350 0.55625 0.96917 0.69000 SN 0.11063

1WK 0.24320 0.57813 1.00167 0.78125 0.11750

2WK 0.24620 0.58438 1.03917 0.80875 0.12188

1MO 0.25350 0.61313 1.08333 0.85063 0.13375

2MO 0.28350 0.68375 1.14250 0.98250 0.15563

3MO 0.30900 0.80688 1.21083 1.12625 0.19250

4MO 0.35050 0.88938 1.27750 1.22188 0.24313

5MO 0.40830 0.99438 1.34750 1.32188 0.30000

6MO 0.46100 1.11188 1.41667 1.44375 0.34625

7MO 0.51350 1.19563 1.50250 1.51938 0.39500

8MO 0.56675 1.28188 1.59167 1.59438 0.44438

9MO 0.61325 1.36438 1.67917 1.67125 0.49000

10MO 0.66600 1.44563 1.76417 1.74250 0.51688

11MO 0.72000 1.51438 1.85250 1.81375 0.54250

12MO 0.77750 1.58438 1.94333 1.88875 0.57000

Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ

U.S.A. 85.50 85.30 85.05U.K. 137.26 136.94 136.51EURO 119.01 118.73 118.35CANADA 87.79 87.59 87.36SWITZERLAND 91.98 91.76 91.52AUSTRALIA 86.16 85.96 85.73SWEDEN 13.48 13.45 13.41JAPAN 1.04 1.04 1.04NORWAY 15.27 15.23 15.19SINGAPORE 67.29 67.14 66.96DENMARK 15.96 15.92 15.88SAUDI ARABIA 22.80 22.75 22.69HONG KONG 10.97 10.95 10.92CHINA 13.01 12.98 12.95KUWAIT 307.61 306.89 306.08MALAYSIA 28.13 28.06 27.99NEW ZEALAND 63.16 63.02 63.85QATAR 23.50 23.44 23.38U.A.E. 23.28 23.22 23.16KR WON 0.08 0.08 0.08THAILAND 2.81 2.81 2.80

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3966 1.3969 1.3983 1.3905

USD-CHF 0.9250 0.9254 0.9314 0.9250

GBP-USD 1.6124 1.6128 1.6149 1.6029

USD-CAD 0.9745 0.9748 0.9751 0.9712

AUD-USD 1.0071 1.0075 1.0151 1.0065

EUR-JPY 114.2200 114.2700 114.8200 112.5600

EUR-GBP 0.8657 0.8661 0.8691 0.8646

EUR-CHF 1.2922 1.2926 1.2969 1.2912

GBP-JPY 131.8900 131.9500 132.3900 129.7600

CHF-JPY 88.3400 88.3900 88.6400 86.8400

Gold 1422.3500 1423.3800 1432.5000 1417.9000

As per 22.00 PST

Time Source Events Forecast Previous

14:30 GBP DCLG HPI y/y 3.5% 3.8%

15:00 EUR German ZEW Economic Sentiment 16.2 15.7

15:00 EUR ZEW Economic Sentiment 34.5 29.5

15:00 EUR Employment Change q/q 0.2% 0.0%

15:00 GBP CB Leading Index m/m 0.7%

17:30 CAD Labor Productivity q/q 0.3% 0.1%

17:30 USD Empire State Manufacturing Index 16.2 15.4

17:30 USD Import Prices m/m 0.9% 1.5%

18:00 USD TIC Long-Term Purchases 59.3B 65.9B

19:00 USD NAHB Housing Market Index 17 16

23:15 USD Federal Funds Rate <0.25% <0.25%

Source Events Actual Forecast Previous

JPY Revised Industrial Production m/m 1.3% 2.4% 2.4%

JPY Household Confidence 40.6 41.6 41.1

JPY Overnight Call Rate <0.10% <0.10% <0.10%

EUR Industrial Production m/m 0.3% 0.4% 0.3%

CAD Capacity Utilization Rate 76.4% 79.1% 76.2%

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada April 12, 2011 September 8, 2010 1%

Bank of England April 7, 2011 March 5, 2009 0.50%

Bank of Japan April 7, 2011 December 19, 2008 0.10%

Federal Reserve March 15, 2011 December 16, 2008 0.25%

Swiss National Bank March 17, 2011 March 12, 2009 0.25%

The Reserve Bank of Australia April 5, 2011 November 2, 2010 4.75%

European Central Bank January 1, 2001 May 7, 2009 1%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, March 14,2011 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

1WEEK 2 WEEK 1 MONTH 3 MONTH 6 MONTH 9 MONTH 1YEAR 2YEARS

BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK

ABLN 12.80 13.30 12.80 13.30 12.85 13.35 13.35 13.60 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 12.90 13.40 12.95 13.45 12.95 13.45 13.30 13.55 13.60 13.85 13.70 14.20 13.80 14.30 13.90 14.40

ASPK 12.90 13.40 12.90 13.40 12.90 13.40 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

CIPK 12.80 13.30 12.80 13.30 12.80 13.30 13.30 13.55 13.50 13.75 13.60 14.10 13.80 14.30 13.90 14.40

DBPK 12.75 13.25 12.70 13.20 12.75 13.25 13.25 13.50 13.35 13.60 13.40 13.90 13.55 14.05 13.65 14.15

FBPK 12.75 13.25 12.75 13.25 12.80 13.30 13.20 13.45 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.90 13.40 12.90 13.40 12.85 13.35 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 12.85 13.35 12.85 13.35 12.90 13.40 13.30 13.55 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

HKBP 12.80 13.30 12.85 13.35 12.90 13.40 13.25 13.50 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 12.75 13.25 12.95 13.45 13.10 13.60 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.70 14.20

HMBP 12.80 13.30 12.85 13.35 12.90 13.40 13.30 13.55 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

SAMB 12.80 13.30 12.90 13.40 12.95 13.45 13.25 13.50 13.45 13.70 13.65 14.15 13.75 14.25 13.85 14.35

MCBK 12.90 13.40 12.90 13.40 12.80 13.30 13.25 13.50 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.70 13.20 12.75 13.25 12.80 13.30 13.30 13.55 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.85 13.35 12.85 13.35 12.85 13.35 13.20 13.45 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

UBPL 12.80 13.30 12.85 13.35 12.85 13.35 13.30 13.55 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.82 13.32 12.86 13.36 12.86 13.36 13.29 13.54 13.50 13.75 13.63 14.13 13.76 14.26 13.86 14.36

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)14/03/2011

Period AUD/USD EUR/CHF EUR/GBP EUR/JPY EUR/USD GBP/USD NZD/USD USD/CAD

1 week -0.72 -0.08 -0.86 0.46 -0.44 0.01 -0.67 -0.471 month -0.73 0.79 -0.67 -0.03 -0.72 -0.38 0.55 0.673 months -0.65 0.13 -0.51 -0.04 -0.44 -0.25 -0.45 0.406 months -0.62 -0.19 -0.65 -0.14 -0.69 -0.40 -0.56 0.301 year -0.74 0.82 0.16 0.63 -0.52 -0.79 -0.78 0.382 years -0.87 0.84 0.42 0.77 0.10 -0.19 -0.84 0.77

Currencies CorrelationUSD/JPY

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 13.10 13.00 13.08 12.90 13.00 13.05 13.02

8-15dys 13.05 13.05 13.05 12.95 13.00 13.00 13.02

16-30dys 13.05 13.05 13.00 13.00 13.00 13.00 13.02

31-60dys 13.18 13.12 13.15 13.10 13.08 13.10 13.12

61-90dys 13.28 13.23 13.22 13.20 13.25 13.27 13.24

91-120dys 13.45 13.35 13.40 13.30 13.40 13.45 13.39

121-180dys 13.50 13.50 13.50 13.50 13.60 13.55 13.53

181-270dys 13.70 13.63 13.65 13.65 13.68 13.65 13.66

271-365dys 13.75 13.75 13.75 13.75 13.78 13.75 13.76

2-- years 14.00 14.00 14.00 13.90 13.95 13.95 13.97

3-- years 14.04 14.04 14.05 14.07 14.07 14.03 14.05

4-- years 14.12 14.10 14.05 14.08 14.18 14.10 14.11

5-- years 14.12 14.07 14.05 14.09 14.12 14.08 14.09

6-- years 14.17 14.10 14.16 14.12 14.20 14.18 14.16

7-- years 14.17 14.12 14.18 14.15 14.11 14.10 14.14

8-- years 14.14 14.05 14.12 14.12 14.20 14.05 14.11

9-- years 14.08 14.03 14.07 14.10 14.00 14.05 14.06

10--years 14.08 14.09 14.07 14.10 14.07 14.08 14.08

15--years 14.50 14.50 14.60 14.50 14.50 14.40 14.50

20--years 14.75 14.75 14.75 14.80 14.75 14.70 14.75

30--years 14.90 14.85 14.95 15.00 15.00 14.90 14.93

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for March 14, 2011

NEW YORK: The dollar reboundedfrom a four-month low against the yenon Monday as the Bank of Japan sup-plied banks with record amounts offunds to stabilize an economy shakenby a devastating earthquake and tsuna-mi.

Traders said price fluctuations wouldremain more volatile than usual,though, as investors braced for yenrepatriation and remained on alert forofficial intervention to weaken the cur-rency should it test a record highagainst the dollar.

The euro, meanwhile, held above$1.39, rising after euro-zone policy-makers agreed to bolster a bailout fundfor troubled countries and make itsloans cheaper.

The dollar was down 0.3 per cent at

81.66 yen. It had dipped as low as 80.60yen overnight, less than a yen from therecord low of 79.75 hit in 1995.

But investorsexpecting bigr e p a t r i a t i o nflows frominsurers and oth-ers after thequake wereforced tounwind bets infavor of the yen when the Bank of Japan(BOJ) said it would double to 10 trillionyen an existing asset-buying plan.

One-month volatility, however, roseto a four-month high of 11.7 per centfrom about 8 per cent before the quake.

With an anemic economy, a largepublic debt burden and the BOJ's mon-

etary easing, "it is difficult to make anargument in favor of (yen) strength,"said Simon Derrick, senior analyst at

BNY Mellon in London.The dollar ran into offers around

82.50 yen, traders said, about wherestop-losses on short dollar positionsalso lay.

Goldman Sachs strategist ThomasStolper said repatriation may proveonly a "small positive" for the yen, as

many Japanese institutional investorshedge their overseas assets. He said for-eign purchases of Japanese stocks,which had accelerated late, could slow,putting some pressure on the yen.

"The clearest currency impact fromthe earthquake may therefore be anincrease in volatility," he said.

The euro rose as high as $1.3981 afterpolicymakers agreed at a meeting inBrussels to boost a euro-zone bailoutfund and make loans cheaper. It waslast up 0.5 per cent at $1.3969.

Expectations the ECB will raise inter-est rates next month have also boostedthe euro in recent sessions, though ana-lysts said it may struggle to retest $1.40as investors cut exposure to risk afterJapan's quake and the threat of a melt-down at a nuclear plant. -Reuters

BOJ actions help USD bounceback against yen; euro higher

SHANGHAI: The yuanended up slightly against thedollar on Monday after thePeople's Bank of China set astronger mid-point and foundsupport from official com-ments that managing infla-tion would be a top priority.

Premier Wen Jiabao said inhis annual press conferencethat China faces a tough taskin finding a balance betweengrowth and cooling inflation.He reiterated that controllinginflation was Beijing's toppolicy priority this year.

Wen also said China wouldnot waiver in reforming theyuan exchange rate mecha-nism. "Based on changes inmarket demand we will fur-ther expand the elasticity ofthe renminbi exchange rateband," Wen said.

"But at the same time, wemust take into account thatthis kind of appreciation willbe gradual, because this con-cerns the capacity of busi-nesses to absorb it and alsoconcerns employment. Wemust maintain the stability ofsociety as a whole."

Dealers said the yuan hadpotential to rise as globalcommodity prices remainedat high levels and could evenrise, therefore, forecasts forthe currency's potential thisyear would not be shakenfundamentally.

Indeed, Premier Wen saidthat imported inflation washaving a big impact onChina, and it was a situationthat could not be easily con-trolled.

Spot yuan finished at6.5698 versus the dollar, upslightly from Friday's closeof 6.5746. The currency hasrisen 3.9 per cent since it wasdepegged in June 2010.

Before trading began, thePBOC set the yuan's mid-point at 6.5701 versus dollar,stronger than Friday's 6.5750.

Benchmark one-year dol-lar/yuan non-deliverable for-wards (NDF) were bid at6.4380, little changed from6.4370 at Friday's close.Their implied yuan apprecia-tion in a year's time fell to 2.1per cent, unchanged fromFriday. -Reuters

Yuan edges higheron stronger midpoint

LONDON: Sterling rose onMonday, recovering from afour-month low against the euroas investors booked profits onthe single currency's earlygains, while an affirmation ofthe UK's sovereign rating sup-ported the pound.

An agreement to strengthen aeuro-zone debt bailout fund ini-tially boosted the euro to 86.92pence, its highest sinceNovember, before it retreated due

to demand from UK corporates tobuy the pound.

The euro also faced key techni-cal resistance around the 86.90pence level, while analysts saidthe lingering possibility of a UKinterest rate rise before mid-yearwould push the currency higher.

"We expect sterling will rise,and on that basis we have a shorteuro/sterling position," saidGeoff Kendrick, currency strate-gist at Nomura.

"We see 86.50 as a good levelto go short euro/sterling."

The euro was essentially flat at86.60 pence in late London trade.

It was unable to climb signifi-cantly beyond 86.90 pence,where the 61.8 per cent Fibonacciretracement of the euro'sOctober-January down move lay.

A previous attempt to breakabove that level in Januaryended in failure.

The pound traded 0.6 per centhigher at $1.6197 in lateLondon trade, after ratingsagency Fitch said its AAA cred-it rating of the UK was looking

increasingly secure. Market participants anticipate

the prospect of a UK interest raterise as early as May would boostthe pound, even as the short-terminterest rate market showsinvestors are pricing in a 25 basispoint rate rise in July or August.

The pound traded at 132.02yen, bouncing from a six-weeklow of 129.85 yen after theBank of Japan announced liq-uidity measures to shore upconfidence in an economy hitby the triple blow of a massivequake, a tsunami and a nuclearemergency. -Reuters

Stg recovers lossesvs euro; Fitch boosts

SINGAPORE: Most Asian cur-rencies showed resilience onMonday as Japanese companiesappeared to hold off from quick-ly repatriating large sums in thewake of the country's deadlyearthquake and tsunami.

Among currencies that weak-ened, the biggest move was bythe South Korean won, whichhit a 2-1/2 month low on dollarshort-covering.

The Indonesian rupiah hit afour-year high against the dol-lar on Monday as there was nosign of a big pullout byJapanese corporates andinvestors.

Since February, the rupiah isthe best performer against thedollar among emerging Asiancurrencies, gaining 3.2 per cent

against the greenback."Repatriation is coming from

corporates only, but I have notheard (anything) about financialinvestors," said a Japanese bankdealer in Jakarta, adding that theoutflow from companies wasrelated to end of the Japanesefiscal year on March 31.

The won weakened past thisyear's low against the dollar asmarket players including for-eign model funds covered dol-lar-short positions and on dol-lar-demand linked to foreigninvestors' recent stock sales.

The country's interest rateswaps eased on expectationsthe central bank will not tight-en monetary policy immediate-ly amid growth concerns andon easing inflationary pres-

sures. The won lost as much as1 per cent to 1,135.3, the low-est since Dec. 30.

Investors grew more cautiousover possible dollar-sellingintervention by monetaryauthorities to curb inflation.

The Singapore dollar weak-ened as the MonetaryAuthorities of Singapore(MAS) was seen buying USdollar cemented caution overits determination to cap thelocal currency's strength.

The MAS was spotted inter-vening around 1.2690 per USdollar, dealers said.

Still, the Singapore dollar'sfall was limited as moneyfunds stayed bullish ahead ofthe MAS policy meeting inApril. -Reuters

Asian currencies

Mostly resilient afterquake; rupiah at 4-yr high

WELLINGTON/SYDNEY: The Australianand New Zealand dollars reversed sharp lossesagainst the yen in volatile trade on Monday asmarkets worry that Japanese officials will inter-vene to weaken the currency in the wake ofFriday's massive earthquake and tsunami.

The yen had initially gained on expectations ofrepatriation flows, but then lost steam after theBank of Japan offered to inject a record $183billion into the banking system and on specula-tion it may ease its ultra-loose monetary policyfurther to calm markets.

All these saw the Australian dollar recover to82.71 yen from a 1-1/2 month low near 81.56.The New Zealand dollar climbed back to 60.70yen, having earlier plumbed six-month lowsaround 59.50. The moves reflected a rebound indollar/yen, which jumped to 82.08 yen fromnear record lows. Against the greenback, theAussie fell to $1.0074 from $1.0149 late in NewYork on Friday. The kiwi slid to $0.7392 fromNew York's $0.7429.

"It is offshore influences rather than localevents that drive the NZ dollar, any weakness inthe US dollar in the days ahead will see the kiwiregain lost ground," said Derek Rankin ofRankin Treasury Advisory.

Immediate support for the Aussie is seen at the55-day moving average around $1.0052.

Both antipodean currencies also lost groundagainst the euro, which benefited from news thatEuropean leaders have agreed to strengthen theeuro-zone bailout fund.

The euro rose to A$1.3824, well off Friday'slow around A$1.3670. It last traded atNZ$1.8831, up from Friday's low aroundNZ$1.8590. The Aussie was little changedagainst the kiwi at NZ$1.3637, having risen ashigh as NZ$1.3722.

Data showing a slight pick up in the NewZealand housing market in February passedunnoticed. The industry data showed prices andthe number of sales both picking up but the mar-ket still lagging where it was a year ago. -Reuters

Aussie, NZD rebound vsvolatile yen; fall vs USD

Swiss francfalls vs euro

ZURICH: The Swiss franc fellagainst the euro on Mondayafter European leaders decidedto strengthen the euro-zonebailout fund, offsetting worriesabout Japan's huge earthquakeand tsunami.

"One could have expected arise in the franc versus the eurobut that has not taken place. Itseems that markets are seeing theearthquake more as a local risk,"Sarasin's Ursina Kubli said.

The European move boostedconfidence in the euro-zone'sfinancial stability and lifted theeuro, which has faced signifi-cant pressure this year due toconcerns about European sov-ereign debt.

"To the degree that a sourceof uncertainty is about to beeliminated, one would expectthe elevated euro-franc moneymarket differential to weigh onthe external value of the francthus pushing euro-franc high-er," UBS economist RetoHuenerwadel said.

The franc was trading loweragainst the euro at 1.2942 pereuro at 0840 GMT comparedwith Friday's New York closeof 1.2926. The franc was alsodown slightly against the dollarat 0.9301 per dollar.

Markets are also eyeing theSwiss National Bank's quarter-ly monetary policy assessmenton Thursday. -Reuters

BOJ adds money to economy to stabilise markets

No signs of big Japanese repatriation after quake

Disclaimer:All reports and recommendations have been prepared for your information

only. Summary and Analysis are not recommendation to buy or sell. This

information should only be used by investors who are aware of the risk inher-

ent 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.

Marketmoving

both waysFirst day of the week witnessed bearish activity

with thin volumes on limited institutional and for-

eign interest. Though, some analysts attribute sub-

dued sentiments to the disaster in Japan, geopoliti-

cal concerns in the Middle East and Libya and

killings in Karachi. Reemergence of rift between

judiciary and executive can also be termed damp-

ener. Rising law and order concerns in Karachi and

political uncertainty were the cause of concern but

declining global crude oil price also kept the

investors cautious throughout the trading session.

Last week stock markets remained flat as the

investors confidence was jolted due to strike call by

PPP against the decision of the apex court.

Negotiations with the IMF for the release of

remaining tranches remained inconclusive, mainly

because the government could not submit any sub-

stantial measures to contain budget deficit.

Now if the government has to introduce any new

tax it has to be through an ordinance which can

only heighten anti-government sentiments.

Ironically, the nation suffers from leadership crisis.

While the rulers have no interest in resolving pub-

lic grievances, public has little faith in the friendly

opposition.

One of the grave concerns is very thin daily trad-

ing volume. Some analysts consider it a positive

point because support has always emerged as and

when prices become attractive. However, selling by

the foreign fund managers is adding to the unease.

Some experts term the market behavior in-line with

other emerging and frontier markets. Though, KSE

is witnessing selling pressure it was comfortably

absorbed by domestic bargain hunters.

On the economic front two positive points have

been i.e shrinking trade deficit and rising remit-

tances. Home remittances continued to show a ris-

ing trend with eight month receipts touching US$7

billion mark, registering an increase of 20 per cent

YoY. Coupled with growing exports, this has

allowed external account and reserve position to

show robust improvement with rupee also appreci-

ating by 16bps YoY.

Over the months exports have grown mainly

because of unprecedented hike in cotton prices and

any reduction in crude oil prices should bode well.

Though, it is being said that electricity and gas load

shedding may ease but hike in tariffs would add to

the woes of industrialist.

Many experts expect that the central bank may

reduce the policy rate due to slight reduction in

commodities prices but keeping in view the move

of Reserve Bank of India the prospects of any

reduction in policy rate do not look very bright.

4Tuesday, March 15, 2011

Publisher & Editor-in-Chief: Amir A. Ashary

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat SabirHead office

111-C, Jami Commercial Street 11, Phase VII, DHA KarachiTelephone: 92-21-35311893-6 Fax: 92-21-35388428

URL: www.thefinancialdaily.comEmail 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

The Financial Daily InternationalVol 4, Issue 128

Ihsanullah Tipu Mehsud

Colonel George Francis RobertHenderson once said, "The line of

supply may be said to be as vital to theexistence of an army as the heart to thelife of a human being."

Let's see how true it is. Secure andswift flow of supplies has vital strategicsignificance and considers life-line fortroops combating insurgency. The dis-ruption of the flow of supplies to acombating army would certainly under-mine their ability to fight effectively.

All great warriors throughout historyhave carefully planned their strategiesaround logistics and supplies.Alexander the Great once said, "Mylogisticians are a humourless lot----they know if my campaign fails, theyare the first ones I will slay." On theother hand, 18th century's French mili-tary conqueror and genius, NapoleonBonaparte describes as, "An armymarches on its stomach." In an asym-metric warfare the guerrillas' mainobjective is to disrupt the enemy's sup-ply lines in order to undermine its oper-ational skills.

Supply to Afghanistan has never beenan easy task. Afghanistan is a land-locked country and heavily depends onneighboring Pakistan for its importsand exports. According to BruceRiedel, a former CIA agent and a seniorfellow at the Brookings Institute,"Afghanistan is a landlocked country.Everything we (Coalition troops) wantto use to eat, drink and to shoot has tocome in from outside."

It is estimated that 75% of Nato sup-plies from food to fuel, and heavy mil-itary equipments enter through Karachisea port. Then there are two land routesused for their further transportation toAfghanistan--70% through the volatileKhyber Pass and the remaining 30%via Chaman Crossing in Balochistan.

The recent series of coordinatedattacks by outlawed TTP-linked mili-tants on Nato vulnerable supply con-voys and terminals across Pakistan areseriously effecting its military opera-tions in Afghanistan. These attackswere well-planned and executed finely.The police and paramilitary FrontierConstabulary (FC) and Rangers weretaken aback and could not manage tothwart these attacks. So far hundreds ofcontainers trucks consisting both ofmilitary and non-military goods havebeen torched. The cost is estimated inmillions of dollars.

Ironically, attacks on coalition logis-tics have become a lucrative businessfor insurgents both in Pakistan andAfghanistan. Looted goods from Nato -bound supply convoys are ending-up inmain markets of the lawless tribal belt--most noteworthy the famousKarkhano, Miranshah and BaraMarkets-where one can find a varietyof looted goods including arms andammunition, medical equipment, officesupplies and even frozen food items atlow prices.

Just last year Afghan currency ladenthree container trucks were hijacked bylocal outlaws in Landi Kotal, KhyberAgency, which were later-on recoveredby the Political Administration afterimmense pressure from US and Afghangovernment. Also earlier the past year,four US helicopter engines worth morethan USD 13 millions were stolen innorth-western Pakistan while beingtrucked from Afghanistan to Karachiport for shipment. Persistent reportshave been surfaced in numerous influ-ential western media outlets thatTaliban are being paid by Nato desig-nated logistics' contractors for safe sup-ply to coalition forces.

It is estimated that nearly 250 con-tainer trucks and tankers loaded withmilitary hardware, fuel, food and med-

ical stuff leave Karachi sea-port toAfghanistan to satisfy the voraciousappetite of thousands of Allied forceson daily basis. These trucks ownerreceive Rs.90000 to Rs.120000 foreach trip. Meanwhile, local mediareports that these trucks' owners havealso been involved in plundering theloaded trucks destined to Coalitionforces in Afghanistan.

One of the major causes of Soviets'defeat in Afghanistan was their failureto preserve their supply-lines fromgrowing Mujahedeen raids. Soviets'main supply route ran through famedSalang Highway which links Kabulwith former Soviet's city of Termmez inTajikistan. Some highly successfulraids were carried out by veteran TajikCommander Ahmad Shah Masood ledPanjsherri militants on Soviets supplyconvoys passing through this route.

Pakistani law enforcement agenciesseem unable to contain these attacks asthey have already been engaged incounter insurgency operations acrossFATA and KPK. However, one of themain objectives behind military opera-tions in Khyber Agency against mili-tants was to secure Nato supply linefrom day to day raids of the militants.

Afghanistan's rugged mountainousterrain, landlocked geographical loca-tion, harsh weather and most vitally theintense resistive nature of its inhabi-tants has always made it a hard bite toswallow for all the invading forces.

These recent attacks on Coalition'slogistic line across Pakistan triggerWestern military planners to find outanother transit route bypassingPakistan. But they have fewer options.The other alternate supply route toAfghanistan is passing through Russiaand Central Asia. A 'Central Route',which would go through Georgia,Azerbaijan, Turkmenistan, and theninto Afghanistan is also being dis-

cussed. Presently, only 25% supplycomes into Afghanistan via air usingRussian air space.

But Americans and its Europeanallies are still reluctant as they do notwant to bring Russia back to a regionfrom where it was forcibly ousted in1989 in the result of decade long west-ern sponsored Afghan national resist-ance. They also don't want to be a vic-tim of Moscow diktats and blackmail-ing in future. As Russia, in its conflictwith Georgia had threatened to suspendan agreement struck in last April, 2008allowing Nato to take supplies andequipments to Afghanistan throughRussia and Central Asia. Meanwhile,Northern routes are longer, moreexpensive, much difficult, largely land-locked and under Russian influence.

Safety of these supply routes is vitalfor the Coalition forces military opera-tions against Taliban in Afghanistan.Especially, after the surge in US troopsin most restive parts of the country;Helmand and Kandahar will certainlyneed a more secure, easy and swift flowof supplies. Taliban has intensified theirambushes on allied forces supply con-voys inside Afghanistan, mimickingtactics used against the British in 1841and the Soviet Union two decades ago.

British and Canadian troops based inSouthern Afghanistan are the most vul-nerable as they hugely rely on suppliesfrom Pakistan. For instance, the mainBritish military base at Camp Bastion,Helmand province in southernAfghanistan alone requires more than amillion liters of liquid fuel a week.

The vulnerability of the supply linehas made majority of Nato membercountries reluctant to send more troopsto Afghanistan. These attacks by insur-gents both in Pakistan and Afghanistanmade it clear that Coalition's jugular-vein has almost fallen in Taliban'shands.

Vulnerability of Nato Supply Line

Fahim Akhtar

Major cities are normally engulfed with acute and dif-ferent kind of complicated issues particularly in thirdworld countries where desire of people to shift inurban areas is necessitated and augmented by avail-ability of earning opportunities there. We being agri-culture based economy but resources strictly heldwith feudal leave no option to our poor populationexcept for moving to major cities for the quest andsearch of our basic physical and existence needs.Ironically, there are very less incentives given by gov-ernment to those living in rural areas and engaged inthe business of growing crops and resultantly the ratioof shifting or migration to urban areas is much morethan normal.

Right after the creation of Pakistan and even aftercompletion of settlement of large number of Muslimsmigrating from India total population of Karachi wasnot exceeding 1.6 million which has now gained to18,000,000 approximately. Unfortunately, the devel-opment in city has never always been in same paceand proportion. The city is clearly idiosyncratic, seg-regated and distinctive with regard to its ethnic, reli-gious and political divides. Beside this the city is alsoprominent in three categories of distinctive areas withclass and status classification.

Karachi got destabilised three decades ago wheninitially a few political and religious parties madeattempt to stand on legs by working for their commu-nities and later applied below the belt techniques

much often for the gain of power. To control the lawand order in Karachi a government also conductedoperations in which heavy losses of precious livestook place. Ever since the city is suffering fromuncertain atmosphere with highly increased crimerate of grave nature such as target killing, kidnap forransom, land grabbing, and power abuse. The com-muters leaving home for job daily find it incontinentto reach their places while those at home pray for theirpeople gone outside until back home. Some of thepeculiarities of Karachi are

1) The city virtually represents a division in termsof politico- religious factor. Groups holding strengthin respective areas work for the welfare and benefit ofpopulation including security aspects of the inhabi-tants but mostly restricting sympathies to own peopleand hostilities for others.

2) No growth in industrial sector is taking placerather some sectors incorporating a lot of people suchas textile is loosing its share in market. The reasonsare inadequate electricity and gas supplies which arebasic needs for textile. Some blame is thrown towardsgovernment also by a few for not applying a workablepolicy and incentives for this sector growth.

3) The earning and employment opportunities arediminishing in city owing to consistent increase inpopulation and law and order situation. A lot of unem-ployed youth is unfortunately turning to wrong prac-tices of earning through easy but unfair means. This isin turn increasing crime rates.

4) Political activities and strike calls after any inci-

dent in quite common in Karachi. It remains a factthat with a single day strike loss caused to nationalexchequer is roughly estimated more than rupees sixbillion now.

5) No national policy or far sighted vision is per-ceived by legislatives or management for mass scaleurbanization taking place in Karachi. The rate is notproportional to the development taking place andresources available within city.

6) Effective screening of those coming to Karachi isnot made by law enforcing agencies and criminalsfind it safe heaven to come and stay under the harbourand umbrella of affiliated political party after commit-ting crimes.

7) National interest is often compromised on groupor party interest or regional politics. This is mostlyreflected in irresponsible statements of leaders andmuch quicker response by other side also.

8) Lack of tolerance, mutual acceptance and respectfor others is gradually lacking form our society andinhabitant of Karachi being no exception are alsoreflecting same from their attitude.

9) Poor legislation exists and procedures used areobsolete in handling of 'Bhatta' cases, land grabbersand narcotics handlers. Often, those involved in noto-rious acts are polarised to influential groups and areout of eyes of police.

Time is still not out to address peculiar issues whichKarachi is facing. All quarters having stakes mustlook into in more analytical and decisive manner tohandle the Karachi concerns in efficient way.

Unfortunate Karachi

The economic damage wrought onJapan by its devastating earth-quake and tsunami is likely only

to shave a sliver off global growth, butit could mean increased inflationarypressures for a longer period.

As the world's third largest economy,any fall in Japanese GDP will have aknock-on effect globally, just by dint ofgearing down one of its largest drivers.

It may also push some overseas bor-rowing costs higher as a result ofJapanese repatriation of investments,possibly heavy holdings of US govern-ment bonds.

Forecasts are necessarily scatteredwith so much uncertainty surroundingthe damage in Japan, but it seemsinconceivable that some impact willnot be felt elsewhere, particularly in theregion.

Paul Mortimer-Lee, head of marketeconomics at BNP Paribas, said hisfirm estimated the disaster will slice 3per cent from Japan's projected GDPthis year.

With the country accounting foraround 6 per cent of global GDP, thattranslates as about 0.2 per cent of worldoutput.

The IMF is forecasting global growthof 4.4 per cent this year, so the drop isminor and there would appear to be lit-tle prospect of a new downturn.

A smaller fall in quarterly Japanese

GDP -- such as the 0.5 percentage pointreduction in first quarter economicgrowth penciled in by Nomura -- wouldhave commensurately less of an impactglobally.

But the impact is likely to be feltmore in Asia, which has been drivingthe world economic recovery.

"You would expect production inAsia to be hit," Mortimer-Lee said.

China has been the star of globalgrowth, with its manufacturing boompulling the rest of the world along.

That could now take a hit. Japan isthe second or third largest destinationof China's exports, depending on whichestimates you use, and the largestsource of China's imports.

Imports from Japan to China totalled$176.8 billion last year while exportsfrom China to Japan were $121.2 bil-lion.

China also benefits from a significantamount of foreign direct investmentfrom Japan.

PRICES UP OR DOWN

There is a mixed outlook for globalinflation. At least for the short-term, aslowing of global economic growth --no matter how slight -- should easeinflationary pressures, as seen by thesharp fall in the price of oil over thepast few days.

That should take one hurdle awayfrom continued global recovery. But for

how long?If any significant sector of manufac-

turing is slowed by supply issues ratherthan demand, it is likely to turn theother way.

Global companies from semiconduc-tor makers to shipbuilders are alreadystriving to minimise major supply dis-ruption caused by the disaster.

One typical response to supply lineblockages would be for manufacturersto run down inventories. When that isover, demand starts to outweigh supply,triggering price rises.

This is even before the likely bounceback in demand for commodities thatJapanese reconstruction will require.

Before the disaster, which includesdevastating hits to its nuclear industry,Japan was already the world's thirdlargest consumer of commodities.

"Oil imports will be increased inorder to substitute some lost nuclearpower. Given the already tightening oilmarket, this can have quite an impor-tant effect on (global) oil prices,"Eliane Tanner, commodity strategist atSarasin, wrote in a note.

"Moreover, the global refined petro-leum market is likely to tighten furthergiven the outage of refinery capacity inJapan, which will hinder production ofrefined products."

Such a rise in demand and the accom-panying energy price rises will do noth-

ing to ease pressure on global centralbanks, most recently the EuropeanCentral Bank, to consider tighteningmonetary policy.

FLIP SIDEPartly as a result of expectations that

regional Asian companies may benefitfrom the massive reconstruction drivethat must now come, emerging marketstocks rose on Monday, while mostother indices headed south.

So here's the rub. Putting aside thehuge human tragedy, there will be anoffsetting effect to the disaster damage.

"Clearly you are going to see a dis-ruption in supply," said Sarah Hewin,senior economist at StandardChartered.

"We will see an initial impact on out-put and activity but it will be offset bythe reconstruction effort."

But there is little doubt that the sheerscale of the Japanese disaster will be ashock to the global economy at least inthe short term.

And it will do little to help build con-fidence among skeptical consumersand investors that the world economyhas put years of crisis behind it.

"This new crisis adds to the geopo-litical/oil crisis already in the back-ground of global markets. This shouldcontribute to global risk aversion inthe near future," Societe Generalesaid.-Reuters

Global Growth & Japan

FERTILISER000 tonnesUrea Offtake (Jan to Dec 10) 6,123Urea Offtake (Dec 10) 626Urea Price (Rs/50 kg) 1,020DAP Offtake (Jan to Dec 09) 1,317DAP Offtake (Dec 10) 90DAP Price (Rs/50 kg) 3,143

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Jan 11) 47,153

Sales (July 10 to Jan 11) 45,113

Production (Jan 11) 6,698

Sales (Jan 11) 6,793

INDUS MOTOR COProduction (July 10 to Jan 11) 29,078

Sales (July 10 to Jan 11) 28,293

Production (Jan 11) 5,596

Sales (Jan 11) 5,885

HONDA ATLAS CARProduction (July 10 to Jan 11) 9,279

Sales (July 10 to Jan 11) 8,779

Production (Jan 11) 1,511

Sales (Jan 11) 1,904

DEWAN FAROOQ MOTORSProduction (July 10 to Jan 11) 186

Sales (July 10 to Jan 11) 113

Production (Jan 11) 0

Sales (Jan 11) 23

BANKING SECTORScheduled bank (Rs in mn)Deposit (Feburay 4,11) 5,046,861

Advances (Feburay 4,11) 3,140,675

Investments (Feburay 4,11) 2,100,015

Spread (Feburay 4,11) 7.61%

OIL MARKETING CO(000 tons)MS (Jul 10 to Dec 10) 1,122

MS (Dec 10) 188

Kerosene (Jul 10 to Dec 10) 81

Kerosene (Dec 10) 15

JP (Jul 10 to Dec 10) 727

JP (Dec 10) 138

HSD (Jul 10 to Dec 10) 3,426

HSD (Dec 10) 634

LDO (Jul 10 to Dec 10)) 32

LDO (Dec 10) 6

Fuel Oil (Jul 10 to Dec 10) 4,331

Fuel Oil (Dec 10) 690

Others (Jul 10 to Dec 10) 6

Others (Dec 10) 2

PRICES (Ex-Refinery) RsMS (1 Feb 11) 51.74

MS (1 Jan 11) 49.41

MS % Chg 4.72%

Kerosene (1 Feb 11) 58.28

Kerosene (1 Jan 11) 55.01

Kerosene % Chg 5.94%

JP-1 (1 Feb 11) 58.51

JP-1 (1 Jan 11) 55.24

JP-1 % Chg 5.92%

HSD (1 Feb 11) 61.80

HSD (1 Jan 11) 58.55

HSD % Chg 5.55%

LDO (1 Feb 11) 55.32

LDO (1 Jan 11) 53.46

LDO % Chg 3.48%

Fuel Oil (1 Feb 11) 47,931

Fuel Oil (1 Jan 11) 45,947

Sector Updates

Symbol Close Vol (mn)NICL 3.01 13.10 DOL 8.96 10.08 NCL 29.03 5.42 NBP 79.26 4.47 FATIMA 12.57 4.26

Symbol Close ChangeULEVER 4,850.75 90.91

DAWH 288.05 13.71

IDYM 279.52 11.85

ILTM 191.00 9.09

BATA 549.72 7.46

Symbol Close ChangeRMPL 2,793.89 -22.99NESTLE 3,402.50 -15.94BHAT 246.10 -12.9AGTL 227.15 -3.72SALT 65.88 -2.62

Plus 144Minus 136Unchanged 87

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Tuesday, March 15, 2011 5

Dhiyan

Smart valuations are likely to keep the bulls in the bourse, downthe line. Consequently the index can reclaim 12,500 level.Investors better catch bargains in fertiliser, banking, and powerstocks. They can also go for selective stocks in textile sector.Lucky Cement is a good buy. Approval of last tranche byInternational Monetary Fund (IMF), political reconciliation andnew discoveries in the gas sector would prove springboard for themarket. It would be positive today.

Faisal Shaji, Head of Research Standard Capital Securities

Farhan Mansuri, VP Capital Market Arif Habib Limited

Triggerslessness, political uncertainty, and lack of foreigninterest may push the market towards correction in the short-term. As a result the index might test a level of 11,500 points.For investors it'll be good to sell at higher levels and wait fordips for new buying in fertiliser, oil, and banking sectors asthey seem good for investments. As a precautionary measurethey are advised to offload if index goes up today.

PIPING A GREEN TUNE

Opening 12,045.25

Closing 12,045.38

Change 0.13

% Change 0.00

Turnover (mn) 77.05

Opening 3,637.54

Closing 3,647.37

Change 9.83

% Change 0.27

Turnover (mn) 3.64

Opening 2,850.15

Closing 2,835.70

Change 14.45

% Change 0.51

Turnover (mn) 0.09

Nawaz Ali

KARACHI: Despite the com-

mencement of Margin Trading

System (MTS), Karachi Stock

Exchange (KSE) lacked luster

on Monday ending absolutely

flat.

The reason was investors'

cautiousness over uncertain

political situation and selloff in

the global stock markets after

disaster in Japan.

The benchmark KSE 100-

Index remained unchanged at a

level of 12,045 points while 30-

Index fell by 33 points and All

Share index was up by 4 points

to close at 11,769 and 8,361

points respectively.

"Investors were cautious over

uncertainty caused by the disas-

ter in Japan and geopolitical

concerns in the Middle East,

Libya", said Ahsan Mehanti,

Director Arif Habib

Investments.

Karachi killings and political

uncertainty kept investors cau-

tious throughout the trading

session --on consolidation--

after major earnings announce-

ments, he added.

Investors were worried over

the fate of MQM and PPP ties

as a meeting between President

Asif Ali Zardari and MQM del-

egation is yet to take place. On

the other side, deteriorating law

and order situation in the city

where several people were

killed in the last couple of days

kept investors on the backfoot.

After a positive opening mar-

ket showed some mixed per-

formance moving in a limited

range throughout the day

between 12,098 points (+ve

53) and 12,029 points (-ve 15).

The much awaited leverage

product i.e. Margin Trading

System (MTS) debut proved a

dud as far as sentiments are

concerned.

Ahmed Rauf, equity dealer at

JS Global Capital said that the

introduction of the Margin

Trading System failed to spur

the market as investors and bro-

kers were busy understanding

leverage products' modalities.

Active issues totaled 367

with 144 moving up, 136 down,

and 87 going nowhere.

Volumes were little higher as

77 million shares exchanged

hands during the day which is

9.5 million shares more as com-

pared to a turnover of 67.5 mil-

lion shares on Friday.

Foreign investors, according

to NCCPL, net-sold stocks

worth $1.19 million.

Nimir Ind. Chemicals stood

as the volume leader with

13.1 million shares followed

by Descon Oxychem with

10.08 million shares and

Nishat Chunian with 5.42 mil-

lion shares.

Globals throw wateron MTS fire at KSE

HONG KONG: Hong Kongand China shares edged higheron Monday with coal and steelplays rising as investorsscoured damage reports fromJapan after its worst earthquakein record history.

Japanese stocks fell as muchas 7.5 per cent at one point,keeping investors across Asiaon the back foot, as automak-ers, electronics companies andoil refiners shuttered factoriesin the face of widespread poweroutages and to check for dam-age.

Shares of Chinese coal andsteel firms outperformed inHong Kong, with investors bet-ting that blasts at severalJapanese nuclear plants wouldforce it to burn more fossil fuel,and that problems with electric-

ity supply would allow itsAsian rivals in other sectors togain market share, at least inthe short term.

The benchmark Hang SengIndex rose 0.4 per cent to23,345.9 points, while theChina Enterprises Index of toplocally listed mainland compa-nies rose 1 per cent.

However, turnover fell to itslowest this month at just overHK$65 billion, suggestinginvestors remained wary of tak-ing bolder positions.

"It seems the market is get-ting increasingly sensitive toeven the slightest news," said ahead trader at an Asian bank inHong Kong.

The Shanghai CompositeIndex rose 0.1 per cent.

In Hong Kong, Angang Steel

rose 4.8 per cent and was themost active counter on theChina Enterprises Index.Baoshan Iron and Steel Co Ltdclosed up 2.1 per cent inShanghai.

Coal producers, expectedto benefit as demand fromsteelmakers rises and also asan alternative to nuclearpower, also saw stronggains.

Yanzhou Coal rose 5.2 percent, while larger rival ChinaShenhua Energy Co Ltd was up2.7 per cent.

Nuclear power companiesfell as investors shied awayfrom the sector as the Japaneseauthorities battled to prevent anuclear catastrophe followingexplosions at several powerplants.-Reuters

HK, China stocksgo up on coal, steel

TOKYO: Stocks plunged onthe Tokyo Stock ExchangeMonday in the wake ofFriday's massive earthquakethat hit northeastern Japan,with the benchmark Nikkeiaverage hitting a four-monthclosing low below 9,700.

The 225-issue Nikkeiaverage closed down 633.94points, or 6.18 per cent, at9,620.49, the lowest finishsince Nov. 4, 2010. OnFriday, the key marketgauge shed 179.95 points,party due to a late surge ofselling sparked by the earth-quake.

Monday's fall was thelargest single-day point losssince Oct. 24, 2008.

The TOPIX index of allfirst-section issues, a 15.33-point loser the previous mar-ket day, finished off 68.55points, or 7.49 per cent, at846.96.

Stocks met with massiveselling due to uncertaintyover the damage of the 9.0-magnitude earthquake, thestrongest on record in Japan,on the economy and corpo-rate earnings, brokers said.

"Investors sold stocksfrom a sense of anxiety. Itcould not be helped," saidKenichi Hirano, operatingofficer of TachibanaSecurities Co.

"Expectations that theeconomy is coming out ofthe doldrums have receded,"said Hiroichi Nishi, equitygeneral manager at Nikko

Cordial Securities Inc. After Tokyo Electric

Power decided to implementits first-ever rotationalpower outages on a regionalbasis, investors fret aboutthe measure's impact on cor-porate activities, brokerssaid.

To cope with blackouts,some companies have haltedfactory operations and rail-way operators have reducedtrain services.

There are also concernsabout the quake's damage onTokyo Electric Powernuclear plants. The Nikkeiextended losses on news ofan explosion Monday at areactor building of one ofthe plants, Ryuta Otsuka,general manager at theinformation and researchdivision of Toyo SecuritiesCo., said.

However, brokersexpressed hopes that stockswill pick up after the currentinitial wave of selling runsits course.

The global economy ismoderately recovering, andstocks could attract buyingon dips from excess funds,Nishi said.

Losers overwhelmed win-ners 1,571 to 103 on theTSE's first section, whilethree issues were flat.

Trading was active, withvolume surging to a record4,883 million shares fromFriday's 3,146 millionshares. -Agencies

Nikkei coremelts down MUMBAI: Indian shares

rebounded 1.5 per cent onMonday after falling in the twoprevious sessions as domesticcompanies were not seen tak-ing a big hit from Japan's mas-sive earthquake and a drop inoil prices relieved investors.

World stocks fell to a six-week low on Monday, while inemerging markets, construc-tion and refinery shares rosedue to expectations for large-scale reconstruction efforts inJapan.

Energy giant RelianceIndustries, which has the high-est weight on the Indian mainindex, led the gains with a 2.6per cent rise.

"On the back of what hashappened in Japan, where 25-30 per cent of refining andpetchem capacity has shutdown, they would want toimport, creating demand fromthis part of the world," saidJagdish Meghnani, vice-presi-dent of equity researchAlchemy Shares.

"This could strengthenReliance product margins," headded.

The 30-share BSE indexfirmed 1.46 per cent, or 265.39points, to 18,439.48, with 25 ofits components closing in thegreen. It had shed 1.6 per centover the two prior sessions.

Investors also awaited thequarterly advance tax paymentfigures, which might trickle inon Tuesday, for more cues.

"After the recent consolida-tion, our market was lookingfor some positive news to rallyon. Fall in oil prices was onethe triggers for today," saidPrakash Diwan, head of institu-tional business at local broker-age Networth Stock Broking.

"Also, views that refiningmargins are likely to rise,helped heavyweight RelianceIndustries, and pulled up themarket."

The main index is still down10 per cent year-to-date, as for-eign funds withdrew $1.8 bil-lion from Indian stocks sincethe start of the year to March10.

Japan scrambled to avert ameltdown at a stricken nuclearreactor after a second hydro-gen explosion rocked the facil-ity, just days after a devastat-ing earthquake and tsunamithat killed at least 10,000 peo-ple.

"Some IT and pharma com-panies may be impacted fromthe disaster in Japan. A fewauto companies have beenimporting components fromthere," said Deven Choksey,managing director and CEO ofKR Choksey Shares.-Reuters

India mkts jumpon Reliance Inds

Quakewoesweigh

on FTSELONDON: Britain's FTSE 100share index hit a fresh three-month closing low on Monday,with some sectors seen vulner-able to further falls as theextent of the damage in Japanafter the earthquake andtsunamis becomes clearer.

Luxury goods firms such asBurberry Group and insurersincluding Aviva and CatlinGroup were among the top fall-ers as Japan faced the econom-ic impact of a disaster that haskilled thousands.

The FTSE 100 closed down53.43 points, or 0.9 per cent, at5,775.24. The blue-chip indexhas lost almost 200 points inthe past four trading days withsentiment weighed on by vio-lence in Libya, euro zone debtworries and Japan.

British-listed insurers fell fur-ther with Aviva and Catlin eachfalling more than 3 per cent.

"The earthquake, tsunami andthe aftershocks expected thisweek are likely to generate oneof the largest reinsurance lossesseen," Kevin Ryan, analyst atInvestec Securities, said.

"If this happens, it will affectinsurance and reinsurance pric-ing and it may affect equitymarkets."

"The market doesn't forgetand in 1995 following the Kobeearthquake, a smaller disastercompared to last Friday's one,we must remember that theNikkei lost over 20 per cent. Asthings stand we've lost nearly10 per cent," a trader said.

Temporary power generatorsprovider Aggreko rose 8.2 percent as demand for its serviceswas seen coming from Japan.The firm said it was ready toequip Japan with some of itsself-contained gas and dieselgenerators if asked.-Reuters

US stocks early-trade

Japan painshurt Wall St

NEW YORK: US stocks dropped1 per cent on Monday as theeffects of Japan's earthquake andtsunami weighed on sentiment onWall Street, which is likely toexperience a high degree ofvolatility in the near term.

The benchmark Standard &Poor's 500 fell to its lowest insix weeks, following sharp loss-es overseas. European shares hittheir lowest level in threemonths.

"When in doubt, sell," saidCharles Lieberman, chief invest-ment officer of Advisers CapitalManagement, LLC inHasbrouck Heights, New Jersey.

Because investors are unsure,there is nervousness and thedesire for safety, he explained."So some selling is going on juston that basis," he said.

The Chicago Board OptionsExchange volatility index, orVIX, jumped 12.5 per cent,another sign investors are wor-ried by uncertainty.

Among shares most affectedwere those in the nuclear indus-try after explosions and damageat Japanese nuclear plants creat-ed doubts about the prospects ofthe industry.

In addition, shares of luxurygoods companies worldwidewere hit. Japan accounts for 11per cent of global luxury sales.

A second hydrogen explosionrocked a stricken nuclear powerplant in Japan, sending authori-ties scrambling to avert a melt-down. General Electric Co,which has combined nuclearventures with Hitachi Ltd, fell2.9 per cent to $19.77.

The Market Vectors uraniumand nuclear energy exchangetraded fund slipped 13.8 percent, while the Global XUranium ETF fell 19.5 per cent.

Among US luxury shares,Tiffany dropped 6.1 per cent to$59.32. Insurers with likelyexposure to Japan fell. Shares ofUS insurer Aflac Inc lost 4 percent to $53.34, while AIG lost1.2 per cent to $36.90.

The Dow Jones industrial aver-age was down 128.14 points, or1.06 per cent, at 11,916.26. TheStandard & Poor's 500 Index wasdown 16.16 points, or 1.24 percent, at 1,288.12. The NasdaqComposite Index was down31.83 points, or 1.17 per cent, at2,683.78. Japanese stocks fell6.2 per cent as investors expect-ed the disaster to take an eco-nomic toll.-Retuers

Resource shares riseafter Japan calamity

South East Asian stocks

European shareshit 3-month low

ANNOUNCEMENT

Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)

Hussain Industries Half Yearly - -69.13 -6.51

Tuesday, March 15, 20116

Volume 77,050,324

Value 2,566,383,919

Trades 45,916

Advanced 144

Decline 136

Unchanged 91

Total 371

Current 8361.38

High 8394.17

Low 8347.69

Change h4.88

Current 12045.38

High 12099.43

Low 12026.72

Change h0.13

Current 11769.62

High 11838.34

Low 11755.06

Change i33.84

Market KSE 100 Index All Share Index KSE 30 Index

Current 20036.52

High 20121.69

Low 20009.8

Change h0.17

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Nimir Industrial Chemicals Ltd

NICL closed up 0.31 at 3.01. Volume was 609 per cent above average

(trending) and Bollinger Bands were 8 per cent wider than normal. The

company's profit after taxation stood at Rs11.775 million which trans-

lates into an Earning Per Share of Rs0.05 for the half year of current

fiscal year (1HFY11).

NICL is currently 69.9 per cent above its 200-day moving average and

is displaying an upward trend. Volatility is extremely low when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect very strong flows of volume into NICL (bullish). Trend

forecasting oscillators are currently bullish on NICL.

RSI (14-day) 64.11 Total Assets (Rs in mn) 1,694.64

MA (10-day) 2.75 Total Equity (Rs in mn) 118.91

MA (100-day) 1.89 Revenue (Rs in mn) 1,742.80

MA (200-day) 1.73 Interest Expense 51.71

1st Support 2.75 Profit after Taxation 4.57

2nd Support 2.42 EPS 10 (Rs) 0.021

1st Resistance 3.28 Book value / share (Rs) 0.54

2nd Resistance 3.48 PE 11 E (x) 30.10

Pivot 2.95 PBV (x) 5.60

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

DFML closed up 0.22 at 2.00. Volume was 61 per cent below average

(consolidating) and Bollinger Bands were 19 per cent narrower than

normal. The company's loss after taxation stood at Rs133.556 million

which translates into a Loss Per Share of Rs1.50 for the half year of

current fiscal year (1HFY11).

DFML is currently 12.4 per cent above its 200-day moving average and

is displaying an upward trend. Volatility is extremely high when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect volume flowing into and out of DFML at a relatively

equal pace. Trend forecasting oscillators are currently bullish on DFML.

RSI (14-day) 54.75 Total Assets (Rs in mn) 4,204.55

MA (10-day) 1.89 Total Equity (Rs in mn) (747.01)

MA (100-day) 1.90 Revenue (Rs in mn) 1,025.34

MA (200-day) 1.78 Interest Expense 8.92

1st Support 1.88 Loss after Taxation (437.50)

2nd Support 1.83 EPS 10 (Rs) (4.917)

1st Resistance 2.00 Book value / share (Rs) (8.40)

2nd Resistance 2.07 PE 11 E (x) -

Pivot 1.95 PBV (x) (0.24)

Dewan Farooque Motors Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

LPCL closed up 0.17 at 3.09. Volume was 60 per cent below average

(consolidating) and Bollinger Bands were 30 per cent narrower than

normal. The company's loss after taxation stood at Rs1.045 billion

which translates into a Loss Per Share of Rs0.80 for the nine months of

current calendar year (9MCY10).

LPCL is currently 2.0 per cent above its 200-day moving average and

is displaying a downward trend. Volatility is extremely high when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect volume flowing into and out of LPCL at a relatively

equal pace. Trend forecasting oscillators are currently bearish on LPCL.

RSI (14-day) 55.43 Total Assets (Rs in mn) 19,704.24

MA (10-day) 2.91 Total Equity (Rs in mn) 9,763.73

MA (100-day) 3.16 Revenue (Rs in mn) 8,129.96

MA (200-day) 3.03 Interest Expense 1,230.81

1st Support 2.90 Loss after Taxation (1,278.96)

2nd Support 2.70 EPS 09 (Rs) (0.974)

1st Resistance 3.25 Book value / share (Rs) 7.44

2nd Resistance 3.40 PE 10 E (x) -

Pivot 3.05 PBV (x) 0.42

Lafarge Pakistan Cement Ltd

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

BIPL closed up 0.07 at 3.51. Volume was 36 per cent below average

and Bollinger Bands were 16 per cent narrower than normal. The com-

pany's profit after taxation stood at Rs1.565 million which translates into

an Earning Per Share of Rs0.003 for the nine months of current calen-

dar year (9MCY10).

BIPL is currently 2.2 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is high as compared to the aver-

age volatility over the last 10 trading sessions. Volume indicators reflect

volume flowing into and out of BIPL at a relatively equal pace. Trend

forecasting oscillators are currently bearish on BIPL.

RSI (14-day) 47.04 Total Assets (Rs in mn) 34,286.77

MA (10-day) 3.53 Total Equity (Rs in mn) 4,740.29

MA (100-day) 3.52 Revenue (Rs in mn) 2,193.89

MA (200-day) 3.43 Interest Expense 1,222.17

1st Support 3.45 Loss after Taxation (478.94)

2nd Support 3.36 EPS 09 (Rs) (0.907)

1st Resistance 3.59 Book value / share (Rs) 8.98

2nd Resistance 3.64 PE 10 E (x) -

Pivot 3.50 PBV (x) 0.39

BankIslami Pakistan Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,501.96 1,515.04 1,492.09 1,497.77 -4.19 -0.28

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

1,486,125 - - 65,194.15 mn 1,124,120.82 mn 1,518.98

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

10.57 3.44 32.54 55.94 5.29 1,492.36

Attock Petroleum 691 6.41 356.86 358.50 354.01 354.80 -2.06 76894 401.00 321.00 300 20B115.00 -

Attock Refinery 853 4.83 118.87 119.74 118.10 118.47 -0.40 207856 146.90 98.25 - - - -

BYCO Petroleum 3921 - 9.41 9.60 9.21 9.31 -0.10 197887 12.24 8.20 - - - -

Mari Gas CompanySPOT 735 7.72 111.59 112.75 111.00 111.16 -0.43 10162 141.65 99.46 31 - 23.43 -

National Refinery 800 5.96 289.28 290.90 287.00 287.28 -2.00 25286 335.00 254.00 200 - - -

Oil & Gas Development 43009 10.40 154.44 155.85 153.01 153.68 -0.76 89572 185.00 144.97 55 - 15.00 -

Pak Petroleum 11950 7.70 210.77 213.00 210.00 210.64 -0.13 257492 229.80 190.10 90 20B 50.00 -

Pak Oilfields XD 2365 7.35 318.72 321.80 317.55 319.13 0.41 613893 341.50 277.09 255 -100.00 -

Pak Refinery Limited 350 - 101.39 104.90 100.00 101.58 0.19 17822 122.22 83.00 - - - -

P.S.O XD 1715 4.76 282.00 282.50 281.00 281.47 -0.53 174034 317.79 265.00 80 - 50.00 -

Shell Gas LPG 226 - 26.53 27.10 25.25 27.10 0.57 2300 36.70 25.25 - - - -

Shell Pakistan 685 10.55 208.28 209.00 205.03 205.68 -2.60 10814 222.00 186.83 120 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

987.25 1,000.53 981.83 992.27 5.03 0.51

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

8,006,231 - - 47,070.70 mn 133,521.55 mn 992.27

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

6.93 0.60 8.64 16.68 2.41 986.41

(Colony) Thal 56 - 1.20 1.20 1.20 1.20 0.00 300 1.75 0.50 - - - -Amtex Limited 2594 - 2.86 2.91 2.80 2.90 0.04 42969 4.68 2.35 30 - - -Artistic Denim 840 7.13 19.50 20.00 19.45 19.81 0.31 8502 24.59 19.11 20 - - -Azam Textile 133 0.41 2.70 2.78 2.40 2.55 -0.15 4301 3.00 1.76 7.5 - - -Azgard Nine 4493 - 9.06 9.24 9.05 9.10 0.04 891215 12.84 8.05 - - - -Babri Cotton 33 0.19 15.30 15.25 14.51 14.58 -0.72 2781 16.60 9.50 - 15B - -Bannu Woolen XD 76 0.47 15.87 16.70 15.62 16.45 0.58 37789 17.00 12.76 20 - - -Bata (Pak) 76 4.77 542.26 553.00 540.00 549.72 7.46 126 705.00 493.50 280 - - -Bhanero Tex Mills 30 1.05 259.00 246.10 246.10 246.10-12.90 110 274.05 246.05 200 - - -Bilal Fibres 141 0.72 0.95 1.20 0.95 0.95 0.00 300 2.00 0.95 - - - -Blessed Tex Mills 64 0.76 60.00 59.05 59.05 59.05 -0.95 500 63.70 46.00 50 - - -Brothers Textile 98 - 0.30 0.50 0.50 0.50 0.20 1000 1.49 0.13 - - - -Chenab Limited 1150 - 2.75 2.89 2.62 2.64 -0.11 2496 3.76 2.05 - - - -Colony Mills Ltd 2442 2.15 2.48 2.45 2.30 2.45 -0.03 601 2.97 2.00 - - - -Crescent Jute 238 - 1.00 1.14 0.80 1.00 0.00 304 1.43 0.32 - - - -Crescent Textile 492 2.99 15.91 16.30 16.25 16.27 0.36 2003 23.99 15.00 15 - - -D M Textile 31 - 3.99 4.00 4.00 4.00 0.01 1500 4.00 1.99 - - - -D S Ind Ltd 600 - 1.59 1.69 1.50 1.55 -0.04 43004 2.10 1.20 - - - -Dawood Lawrencepur 514 54.96 44.50 46.72 45.00 46.72 2.22 66440 48.29 35.00 5 - - -Dewan Mushtaq Textile 34 0.16 4.62 4.99 4.50 4.50 -0.12 5476 8.90 2.90 - - - -Din Textile 204 0.81 33.41 31.85 31.75 31.76 -1.65 550 33.69 25.10 20 10B - -Ellcot Spinning 110 0.56 25.75 26.99 24.80 24.81 -0.94 564 27.66 18.90 35 - - -Faisal Spinning 100 0.72 36.75 36.00 36.00 36.00 -0.75 500 36.76 32.00 50 - - -Gadoon Textile XD 234 0.83 84.54 86.70 83.20 84.33 -0.21 3173 91.00 53.14 70 - - -Gul Ahmed Textile 635 3.02 43.00 44.00 43.80 43.00 0.00 310 44.62 26.00 12.5 - - -Gulshan Spinning 222 0.39 10.69 10.68 10.60 10.60 -0.09 11000 11.00 6.30 10 20B - -Hira Textile Mills Ltd. 716 1.00 4.88 5.14 4.79 4.96 0.08 137903 5.20 3.31 10 - - -Ibrahim Fibres 3105 3.41 47.06 48.80 45.01 47.06 0.00 145 55.00 37.56 20 - - -ICC Textile 100 - 1.03 1.39 1.05 1.07 0.04 1110 2.00 0.32 - - - -Ideal Spinning 99 0.96 9.69 10.68 9.00 9.36 -0.33 5821 10.90 4.56 - - - -Idrees Textile 180 2.31 4.15 4.48 4.15 4.20 0.05 6596 4.95 3.01 10 - - -Indus Dyeing 181 2.41 267.67 281.05 267.65 279.52 11.85 251 348.10 188.01 50 - - -Island Textile 5 0.20 181.91 191.00 190.98 191.00 9.09 502 192.00 99.33 50 - - -Janana D Mal 48 0.31 15.06 14.41 14.15 14.40 -0.66 3000 18.00 13.15 - - - -Khalid Siraj 107 0.22 1.39 1.30 1.10 1.12 -0.27 63511 1.69 0.25 - - - -Kohinoor Ind 303 - 1.56 1.56 1.48 1.50 -0.06 23966 1.98 0.75 - - - -Kohinoor Textile 1455 7.47 4.55 5.24 4.21 4.33 -0.22 3013 5.95 4.01 - - - -Mian Textile 221 - 0.50 0.55 0.50 0.55 0.05 1305 0.75 0.25 - - - -Mohd Farooq 189 - 1.00 1.40 0.86 1.00 0.00 72552 1.79 0.60 - - - -Mukhtar Textile 145 - 0.45 0.47 0.40 0.40 -0.05 3523 0.88 0.13 - - - -Nishat (Chunian) 1614 4.47 27.72 29.10 27.50 29.03 1.31 5423538 29.10 21.95 15 - - -Nishat Mills 3516 5.68 64.18 64.80 63.72 63.96 -0.22 895236 71.89 57.20 25 45R - -Pak Synthetic 560 3.01 19.29 19.90 18.40 18.85 -0.44 29793 19.90 8.66 - - - -Paramount Spinning 174 0.67 14.50 14.39 13.50 13.51 -0.99 1011 15.49 8.50 10 10B - -Prosperity 185 1.18 14.01 15.01 14.55 14.99 0.98 5615 15.44 13.10 30 - - -Quetta Textile 130 0.91 49.06 51.51 49.55 50.45 1.39 12200 51.51 34.35 20 - - -Ravi Textile 250 - 1.12 1.28 1.03 1.08 -0.04 3016 1.80 0.65 - - - -Redco Textile 213 3.82 0.60 0.65 0.65 0.65 0.05 5000 0.99 0.40 - - - -Reliance Weaving 308 0.70 13.09 13.79 13.50 13.50 0.41 1025 13.79 8.50 25SD - - -Rupali Poly 341 4.02 43.50 44.40 43.20 43.27 -0.23 5011 44.40 35.25 40 - - -Saif Textile 264 0.41 9.03 8.70 8.20 8.25 -0.78 51833 11.50 3.90 - - - -Salfi Textile 33 0.37 68.50 68.00 65.50 65.88 -2.62 902 76.43 58.85 25 - - -Sally Textile 88 0.24 6.87 7.23 6.15 6.19 -0.68 3264 7.94 3.63 10 - - -Salman Noman 42 0.82 4.75 4.25 3.75 3.75 -1.00 13500 6.35 2.99 - 5B - -Samin Textile 267 4.16 6.30 6.38 5.51 5.83 -0.47 550 7.40 4.55 - 100R - -Sapphire Fibre 197 1.20 102.87 105.00 105.00 105.00 2.13 500 131.50 98.05 15 - - -Sargodha Spinning 312 1.16 3.50 3.95 3.50 3.85 0.35 8166 4.45 1.55 5 - - -Saritow Spinning 133 0.38 2.00 1.90 1.66 1.90 -0.10 1010 2.89 1.00 - - - -Service Fabrics 158 - 0.35 0.40 0.40 0.40 0.05 1000 0.40 0.16 - - - -Service Ind 120 6.57 187.99 193.99 189.05 191.86 3.87 4618 253.00 186.00 - - - -Shahtaj Textile 97 1.39 21.84 22.00 21.99 22.00 0.16 6677 22.05 18.40 45 - - -Shahzad Textile 180 0.51 6.99 6.25 6.25 6.25 -0.74 563 7.98 5.00 5 - - -Suraj Cotton 180 0.76 40.00 40.00 38.05 38.92 -1.08 2101 41.95 33.20 50 - - -Taj Textile 334 - 0.15 0.20 0.20 0.20 0.05 1000 0.49 0.08 - - - -Thal Limited 307 5.31 108.26 109.50 106.50 107.12 -1.14 12675 132.00 100.51 80 20B - -Treet Corp 418 5.83 47.16 48.00 47.00 47.42 0.26 21122 63.30 44.10 - - - -Yousuf Weaving 400 0.57 1.40 1.40 1.20 1.20 -0.20 27100 1.99 1.08 - - - -ZahidJee Textile 341 0.90 4.00 5.00 4.67 5.00 1.00 4748 5.00 2.27 - - - -Zephyr Textile Ltd 594 5.87 3.90 3.90 3.02 3.52 -0.38 7002 4.50 2.56 - - - -Zil Limited 53 4.90 64.52 67.00 64.05 67.00 2.48 5105 87.90 50.00 35 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,007.09 1,013.24 995.81 1,004.45 -2.64 -0.26

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

61,046 - - 3,763.71 mn 4,832.67 mn 1,007.09

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

2.16 0.23 10.64 6.27 2.90 994.87

Hussain Industries 106 - 6.09 5.75 5.50 5.67 -0.42 500 9.99 4.60 - - - -

Pak Elektron 1219 3.35 13.30 13.38 13.20 13.28 -0.02 33040 15.88 12.07 - 10B - -

Singer Pak 341 21.51 19.76 19.50 18.76 19.14 -0.62 2360 24.09 17.55 - - - -

Tariq Glass Ind 231 1.83 13.25 14.00 13.64 13.84 0.59 25146 24.00 12.51 17.5 - - 200R

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,953.63 1,985.40 1,912.55 1,964.67 11.04 0.57

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

101,513 - - 11,335.33 mn 283,044.13 mn 1,964.67

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

47.43 14.37 30.30 30.57 0.64 1,934.19

Adam Sugar 58 4.24 14.25 14.25 14.25 14.25 0.00 700 20.50 13.55 25 - - -

Dewan Sugar 365 - 3.20 3.45 3.20 3.20 0.00 4207 4.20 2.52 - - - -

Habib Sugar 750 8.70 21.62 21.99 21.60 21.93 0.31 23820 36.50 20.25 25 25B - -

Habib-ADM Ltd 200 6.71 11.19 11.15 11.00 11.00 -0.19 9771 12.85 10.85 40 - - -

Haseeb Waqas 324 - 14.00 13.00 13.00 13.00 -1.00 2300 23.62 13.00 10 - - -

Hussein Sugar 121 2.33 9.04 8.11 8.10 8.10 -0.94 1500 12.66 8.10 - - - -

J D W Sugar 539 1.34 74.00 75.99 71.71 75.82 1.82 6278 92.50 68.00 7010B 12.5R - -

Mehran Sugar XD 157 1.72 52.67 53.00 51.30 52.67 0.00 110 60.65 50.12 35 20B 7.50 -

Mirpurkhas Sugar 84 2.90 48.31 49.80 46.36 46.46 -1.85 714 55.98 44.13 15 20B - -

Mirza Sugar 141 - 3.73 3.75 3.36 3.48 -0.25 7750 6.70 2.65 10 - - -

National Foods 414 9.75 54.95 56.00 55.00 55.78 0.83 3902 75.50 49.50 12 - - -

Noon Pakistan 48 6.06 22.00 22.99 21.00 22.06 0.06 521 27.24 20.02 12 - - -

Noon Sugar 165 1.28 11.73 12.00 11.90 11.90 0.17 1500 13.90 9.00 - - - -

Pangrio Sugar 109 - 4.00 4.29 4.00 4.08 0.08 561 6.75 3.00 10 - - -

Quice Food 107 7.05 2.90 3.11 3.00 3.10 0.20 26000 4.00 2.10 - - - -

S S Oil 57 0.25 4.14 4.15 4.00 4.00 -0.14 7500 4.75 2.50 - - - -

Sakrand Sugar 223 - 1.99 1.95 1.95 1.95 -0.04 2000 3.26 1.60 - - - -

Sanghar Sugar 119 2.26 11.99 12.29 12.28 12.29 0.30 500 15.01 11.00 15 - - -

Shak(RCPf)8.5 Perc 346 - 3.75 3.01 3.01 2.90 -0.85 640 4.80 2.89 - - - -

Shakarganj Mills 695 0.37 5.25 4.86 4.85 5.25 0.00 177 6.88 4.01 - - - -

Tandlianwala 1177 23.26 42.00 42.00 40.01 41.64 -0.36 704 44.06 34.00 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,110.89 1,125.90 1,100.06 1,108.28 -2.61 -0.24

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

322,121 - - 6,768.53 mn 41,343.99 mn 1,118.16

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

3.88 0.98 25.35 20.42 5.26 1,105.51

Atlas Battery 101 5.06 191.00 192.95 190.50 190.73 -0.27 1172 205.00 160.95 100 20B - -

Atlas Honda 626 9.49 134.57 138.00 136.51 136.66 2.09 1838 143.80 118.74 - - - -

Dewan Motors 890 - 1.78 2.02 1.90 2.00 0.22 227189 2.89 1.50 - - - -

Exide (PAK) 56 4.48 184.90 189.50 180.01 183.06 -1.84 473 217.44 170.11 60 - - -

General Tyre 598 4.64 23.20 23.40 23.00 23.39 0.19 6161 26.74 21.00 20 - - -

Ghandhara Nissan 450 - 3.60 3.67 3.60 3.60 0.00 7756 5.36 3.05 - - - -

Ghani Automobile Ind 200 6.00 4.24 4.48 3.82 4.32 0.08 11502 5.49 3.71 - - - -

Honda Atlas Cars 1428 - 10.39 10.25 9.65 10.08 -0.31 18106 12.87 9.52 - - - -

Indus MotorsSPOT 786 9.78 227.01 230.00 225.00 226.02 -0.99 4923 309.73 218.00 150 - 50.00 -

Pak Suzuki 823 11.19 61.98 62.89 60.10 61.01 -0.97 41894 74.80 60.00 5 - - -

Transmission 117 - 1.52 1.71 1.70 1.71 0.19 1001 2.20 1.30 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,644.55 1,658.53 1,631.75 1,647.84 3.29 0.20

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

45,405 - - 1,336.62 mn 33,403.26 mn 1,650.47

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.17 3.10 38.02 131.49 16.10 1,599.17

Ados Pak 66 7.61 10.46 10.50 9.70 10.04 -0.42 3984 18.20 9.65 - - - -

AL-Ghazi TractorSPOT 215 5.11 230.87 230.00 225.00 227.15 -3.72 16102 244.95 215.00 400 - - -

Ghandhara Ind 213 8.53 9.41 9.83 9.40 9.72 0.31 6207 13.50 8.25 - - - -

Hinopak Motor 124 - 115.98 120.70 112.50 115.98 0.00 121 139.75 112.50 - - - -

KSB Pumps 132 7.00 55.70 58.48 56.89 58.48 2.78 3162 68.00 54.05 - - - -

Millat Tractors 366 8.32 539.10 544.50 536.10 540.05 0.95 15755 568.40 466.27 650 25B325.00 -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

921.27 929.32 916.40 927.59 6.32 0.69

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

65,386 - - 3,043.31 mn 34,891.63 mn 927.59

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

1.78 0.78 43.91 15.55 8.72 921.09

Cherat Papersack 115 2.40 53.02 52.99 52.35 52.35 -0.67 7807 81.49 47.80 20 25B - 50R

ECOPACK Ltd 230 - 2.33 2.36 2.12 2.27 -0.06 25776 3.30 2.03 - - - -

Ghani Glass 1067 5.45 51.75 52.50 50.60 52.41 0.66 12465 56.45 48.10 25 10B - -

MACPAC Films 389 1.70 6.42 6.88 6.16 6.26 -0.16 3969 8.15 2.50 - - - -

Merit Pack 47 15.99 29.01 29.64 28.75 28.78 -0.23 1963 33.80 21.50 - - - -

Packages Ltd 844 - 114.00 115.02 114.19 115.01 1.01 5021 143.00 105.02 32.5 - - -

Tri-Pack Films XD 300 7.88 127.81 130.00 127.16 129.94 2.13 8385 144.80 113.00 100 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

870.98 888.72 863.05 873.72 2.74 0.31

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

2,219,630 - - 54,792.74 mn 63,122.09 mn 873.72

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

6.42 0.46 7.10 19.04 2.96 863.52

Al-Abbas Cement 1828 - 2.51 2.60 2.55 2.60 0.09 1500 3.98 2.15 - 100R - -

Attock Cement 866 6.47 51.98 52.30 51.00 51.10 -0.88 13320 63.90 48.50 50 - - -

Balochistan Glass Ltd 858 - 2.25 2.59 2.10 2.13 -0.12 346000 4.24 1.95 - - - -

Berger Paints 182 - 16.65 16.99 16.30 16.63 -0.02 7249 24.16 14.72 - 122R - -

Bestway Cement 3257 - 10.67 11.66 11.66 11.66 0.99 500 23.50 10.67 - - - -

Buxly Paints 14 - 9.00 9.70 8.15 9.00 0.00 102 15.50 7.52 - - - -

Cherat Cement 956 41.46 9.24 10.20 9.30 9.95 0.71 23002 11.50 8.00 - - - -

Dadabhoy Cement 982 12.77 1.80 1.90 1.65 1.66 -0.14 1252 2.12 1.50 - - - -

Dandot Cement 948 - 1.75 1.76 1.60 1.75 0.00 301 3.49 1.25 - - - -

Dewan Cement 3891 - 1.85 1.94 1.70 1.80 -0.05 212862 2.56 1.50 - - - -

DG Khan Cmt LtdSPOT 3651 10.81 25.17 25.49 24.90 24.96 -0.21 398039 32.30 21.20 - 20R - 20R

EMCO Ind 350 - 2.01 2.00 1.91 1.91 -0.10 2000 4.00 1.70 - - - -

Fauji Cement 6933 5.85 4.21 4.29 4.15 4.21 0.00 38929 5.35 3.97 - - - 92R

Fecto Cement 502 2.12 6.90 7.00 6.50 7.00 0.10 1871 8.00 6.30 - - - -

Flying Cement Ltd 1760 - 1.57 1.65 1.50 1.55 -0.02 11910 2.13 1.30 - - - -

Frontier Ceramics 77 - 2.02 2.40 2.10 2.29 0.27 1303 3.40 0.71 - - - -

Gammon Pak 283 - 1.06 1.99 1.28 1.99 0.93 1003 3.65 1.01 - - - -

Kohat Cement 1288 - 6.00 6.05 5.95 6.04 0.04 15300 7.25 5.11 - - - -

Lafarge Pakistan Cmt. 13126 - 2.92 3.20 2.85 3.09 0.17 837079 3.88 2.65 - - - -

Lucky Cement 3234 6.12 68.43 68.99 68.10 68.15 -0.28 101527 78.44 59.55 40 - - -

Maple Leaf Cement 5261 - 2.18 2.38 2.21 2.27 0.09 177147 3.22 1.92 - - - -

Pioneer Cement 2271 - 5.94 6.14 5.81 6.10 0.16 16081 7.45 5.17 - - - -

Thatta Cement 798 941.00 18.96 18.95 17.96 18.82 -0.14 11210 19.19 16.20 - 50R - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,019.09 1,034.02 1,015.45 1,025.28 6.19 0.61

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

29,718 - - 3,596.11 mn 9,633.66 mn 1,040.31

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

3.13 1.04 33.10 30.91 9.87 1,019.09

Crescent Steel XD 565 2.82 26.50 27.00 26.75 27.00 0.50 10701 31.00 25.00 30 - 10.00 -

Dost Steels Ltd 675 - 2.15 2.20 2.09 2.15 0.00 8912 3.09 1.80 - - - -

Huffaz Pipe XD 555 437.33 12.57 13.48 12.56 13.12 0.55 3833 16.51 12.56 - - 15.00 -

International Ind 1199 18.46 50.90 51.45 50.30 50.77 -0.13 5272 62.20 45.81 55 20B - -

Siddiqsons Tin 785 41.18 9.00 9.06 9.06 9.06 0.06 1000 10.70 8.51 7.5 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,027.45 1,026.40 1,008.08 1,022.39 -5.06 -0.49

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

19,250 - - 1,186.83 mn 2,820.14 mn 1,027.45

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

4.94 0.37 7.47 25.28 5.12 1,018.48

Century Paper 707 - 15.22 15.15 14.70 15.00 -0.22 17150 19.69 14.50 - - - -

Security Paper 411 6.78 37.95 38.00 37.55 37.99 0.04 2100 47.70 34.00 50 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,766.43 1,792.11 1,755.36 1,776.37 9.94 0.56

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

36,095,048 - - 52,251.88 mn 379,889.63 mn 1,776.37

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

9.74 3.41 35.00 48.81 5.01 1,690.10

Bawany Air 75 7.55 7.00 8.00 7.30 8.00 1.00 7979 10.15 6.11 5 10R - -

BOC (Pak) 250 9.15 89.15 92.49 89.12 89.12 -0.03 502 103.94 82.00 60 - - -

Clariant PakSPOT 273 7.14 199.55 201.40 198.10 199.50 -0.05 47820 213.30 157.98 135 25B - -

Dawood Hercules 1203 16.13 274.34 288.05 277.50 288.05 13.71 425156 288.05 178.50 50 300B - -

Descon Chemical 1996 - 2.63 3.23 2.58 3.07 0.44 1935678 3.58 2.34 - - - -

Descon Oxychem Ltd. 1020 11.79 7.98 8.98 7.92 8.96 0.98 10075374 9.25 6.00 - - - -

Dewan Salman 3663 - 2.77 2.93 2.77 2.80 0.03 710910 3.48 2.26 - - - -

Dynea Pak 94 5.91 10.92 11.00 11.00 11.00 0.08 1000 11.98 10.06 15 - - -

Engro Corp. LtdSPOT 3277 13.00 235.40 237.35 233.52 236.54 1.14 1776064 238.50 189.25 60 20B - -

Engro Polymer 6635 - 12.04 12.75 12.05 12.42 0.38 623982 15.87 11.75 - - - -

Fatima Fertilizer 22000 - 12.33 12.95 12.40 12.57 0.24 4259298 12.95 9.16 - - - -

Fauji FertilizerXDXB 8482 8.20 134.06 134.89 132.71 133.28 -0.78 838761 157.90 108.00 130 25B - -

Fauji Fert.Bin Qasim XD 9341 7.52 39.81 40.50 39.65 39.86 0.05 2608826 43.99 34.75 65.5 - - -

Ghani Gases Ltd 725 9.68 10.79 11.17 10.90 11.03 0.24 40665 13.07 10.43 - - - -

ICI Pakistan 1388 9.27 157.14 162.95 156.05 162.27 5.13 589351 163.99 138.00 175 - - -

Ittehad Chemical 360 6.11 28.99 28.00 27.65 27.76 -1.23 1100 36.00 23.07 5 - 5 -

Lotte PakistanSPOT 15142 5.86 15.86 16.07 15.85 15.93 0.07 3485174 16.80 13.11 5 - - -

Mandviwala 74 - 0.88 1.38 0.95 1.02 0.14 81473 2.45 0.57 - - - -

Nimir Ind Chemical 1106 30.10 2.70 3.15 2.62 3.01 0.31 13099827 3.17 1.62 - - - -

Shaffi Chemical 120 - 2.37 2.49 2.05 2.29 -0.08 11828 2.89 1.55 - - - -

Sitara Chem Ind 214 8.82 104.50 104.90 103.60 104.63 0.13 1945 131.90 90.78 25 5B - -

Sitara Peroxide 551 7.21 15.73 16.73 15.80 16.73 1.00 1662810 16.73 11.81 - - - -

United Distributors 92 - 13.33 14.33 13.25 14.02 0.69 4500 14.99 8.76 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

898.78 919.48 895.44 905.15 6.37 0.71

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

135,833 - - 3,904.20 mn 30,294.62 mn 905.15

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

6.56 1.46 22.31 44.54 6.79 890.37

Abbott (Lab)SPOT 979 7.32 85.37 89.00 86.50 88.00 2.63 8768 112.50 78.59 50 - - -

Ferozsons (Lab) 250 6.02 90.75 89.99 89.01 89.05 -1.70 651 98.00 84.00 - 20B 12.50 -

GlaxoSmithKline 1707 15.85 80.17 82.30 79.85 80.52 0.35 112212 89.98 68.00 40 15B - -

Highnoon (Lab) 165 7.13 25.50 25.99 25.05 25.74 0.24 6005 30.48 24.50 - - - -

IBL HealthCare Ltd 200 4.33 10.65 11.00 11.00 11.00 0.35 500 11.00 7.16 - - - -

Sanofi-Aventis 96 7.06 161.02 168.00 153.55 163.90 2.88 208 174.00 132.00 100 - - -

Searle Pak 306 5.25 60.52 60.99 60.00 60.10 -0.42 7489 69.00 58.50 30 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

692.98 700.51 681.82 696.89 3.90 0.56

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

5,663 - - 3,242.17 mn 11,842.25 mn 696.89

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

5.13 1.31 25.53 11.08 2.16 681.08

Pak Int Cont.Terminal 1092 6.70 69.00 69.90 67.76 69.63 0.63 3572 75.72 63.00 40 - - -

PNSC 1321 8.51 30.92 31.00 30.62 30.65 -0.27 2091 39.45 30.62 15 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

BOOK CLOSURES

Fauji Fertilizer Bin Qasim 15-Mar 21-Mar 35(F) 07-Mar 21-MarHuffaz Seamless Pipe Ind 15-Mar 22-Mar 15(I) - -Indus Dye & Manufac Co # 16-Mar 22-Mar - - 24-MarFauji Cement # 16-Mar 22-Mar - - 22-MarAl-Noor Sugar Mills # 16-Mar 26-Mar - - 25-MarIndus Motor 16-Mar 25-Mar 50(I) 08-Mar -Habib Bank 16-Mar 29-Mar - - 29-MarUnited Bank (Unconsolidated) 16-Mar 29-Mar 40(F) 08-Mar 29-MarAl-Ghazi Tractors 16-Mar 24-Mar 250(F) 08-Mar 24-MarEngro Corp (Consolidated) 17-Mar 31-Mar 20(F),20(B) 09-Mar 31-MarNishat Mills (Unconsolidated) # 17-Mar 31-Mar - - 31-MarClarient Pakistan 18-Mar 25-Mar 135.25(B) 10-Mar 25-MarHub Power (Unconsolidated) 18-Mar 25-Mar 25(I) 10-Mar -Janana Textile Mills # 18-Mar 25-Mar - - 26-MarBannu Woollen Mills # 18-Mar 25-Mar - - 26-MarLotte Pakistan 18-Mar 24-Mar 5 10-Mar 24-MarMari Gas 19-Mar 25-Mar 23.43(I) - -Abbott Laboratories Pak 19-Mar 28-Mar 30(F) 11-Mar 29-MarMybank Ltd 19-Mar 23-Mar - - 25-MarAmerican Life Insurance # 19-Mar 25-Mar - - 25-MarMeezan Bank 19-Mar 28-Mar 15(B) 11-Mar 28-MarRafhan Maize Prod 21-Mar 29-Mar 550(F) 11-Mar 29-MarD.G Khan Cement (Consolidated) 21-Mar 28-Mar 20(R) 11-Mar -

INDICATIONS

# Extraordinary General Meeting

Company From To D/B/R Spot AGM/Date

OTHER SECTORS

TRG Pakistan Ltd. 3.15 3.35 3.15 3.19 0.04 939994

Murree Brewery Co. 97.98 100.99 96.01 98.77 0.79 1378

Shezan International 145.51 152.78 139.01 152.47 6.96 4277

Pak Tobacco 102.28 104.85 104.84 102.28 0 117

Shifa Int.Hospitals 31.41 32.5 31.85 32.25 0.84 640

Media Times LtdXR 19.05 20.05 18.05 19.75 0.7 3963

P.I.A.C.(A) 2.74 2.87 2.7 2.71 -0.03 91777

Pace (Pak) Ltd. 2.8 2.88 2.76 2.78 -0.02 260759

Netsol Technologies 22.89 23.25 22.5 22.64 -0.25 255266

Symbols Open High Low Close Change Vol

Tuesday, March 15, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 0.13 points at 12,045.38. Volume was 65

per cent below average (consolidating) and Bollinger Bands were 25

per cent wider than normal. As far as resistance level is concern, the

market will see major 1st resistance level at 12,087.65 and 2nd

resistance level at 12,129.90, while Index will continue to find its 1st

support level at 12,014.95 and 2nd support level at 11,984.45.

KSE 100 INDEX is currently 11.8 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 trad-

ing sessions. Volume indicators reflect volume flowing into and

out of INDEX at a relatively equal pace. Trend forecasting oscil-

lators are currently bullish on INDEX.

RSI (14-day) 53.58 Support 1 12,014.95

MA (5-day) 12,056.92 Support 2 11,984.45

MA (10-day) 11,932.88 Resistance 1 12,087.65

MA (100-day) 11,663.68 Resistance 2 12,129.90

MA (200-day) 10,779.96 Pivot 12,057.20

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed up 0.36 at 79.26. Volume was 3 per cent below average and

Bollinger Bands were 123 per cent wider than normal.

NBP is currently 15.2 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 volume

flowing into and out of NBP at a relatively equal pace. Trend forecasting

oscillators are currently bullish on NBP.

*Arif Habib Ltd. 85 Hold

AKD Securities Ltd 75.5 Reduce

TFD Research 92.3 Positive

RSI (14-day) 60.66 Free Float Shares (mn) 318.50

MA (10-day) 78.08 Free Float Rs (mn) 25,244.14

MA (100-day) 72.21 ** NOI Rs (mn) 91.85

MA (200-day) 68.78 Mean 79.24

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

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -3.45 at 39.86. Volume was 59 per cent below average

(consolidating) and Bollinger Bands were 20 per cent wider than normal.

FFBL is currently 22.7 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 volume flowing into and out of FFBL at a relatively equal pace.

Trend forecasting oscillators are currently bullish on FFBL.

*Arif Habib Ltd. 37 Sell

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Positive

RSI (14-day) 41.80 Free Float Shares (mn) 326.94

MA (10-day) 42.23 Free Float Rs (mn) 13,031.77

MA (100-day) 37.17 ** NOI Rs (mn) 58.36

MA (200-day) 32.48 Mean 39.96

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

Technical Analysis Leverage Position

Engro Corporation

Brokerage House Fair Value Rs Recommendations

Technical Outlook

ENGRO closed up 1.14 at 236.54. Volume was 28 per cent below average

and Bollinger Bands were 124 per cent wider than normal.

ENGRO is currently 25.3 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 very

strong flows of volume into ENGRO (bullish). Trend forecasting oscillators

are currently bullish on ENGRO.

*Arif Habib Ltd. 224 Sell

AKD Securities Ltd 229.9 Neutral

TFD Research 245.4 Neutral

RSI (14-day) 69.37 Free Float Shares (mn) 147.48

MA (10-day) 226.73 Free Float Rs (mn) 34,885.29

MA (100-day) 199.14 ** NOI Rs (mn) 121.54

MA (200-day) 188.79 Mean 235.70

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed unchanged at 17.81. Volume was 55 per cent below average

(consolidating) and Bollinger Bands were 26 per cent wider than normal.

PTC is currently 5.6 per cent below its 200-day moving average and is dis-

playing a downward trend. Volatility is high as compared to the average

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

flowing into and out of PTC at a relatively equal pace. Trend forecasting

oscillators are currently bearish on PTC.

*Arif Habib Ltd. 24.7 Buy

AKD Securities Ltd 23.91 Buy

TFD Research 25.8 Positive

RSI (14-day) 41.14 Free Float Shares (mn) 585.02

MA (10-day) 17.91 Free Float Rs (mn) 10,419.27

MA (100-day) 19.01 ** NOI Rs (mn) 6.51

MA (200-day) 18.88 Mean 17.80

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed down -0.22 at 63.96. Volume was 80 per cent below average

(consolidating) and Bollinger Bands were 4 per cent narrower than normal.

NML is currently 18.9 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 volume

flowing into and out of NML at a relatively equal pace. Trend forecasting

oscillators are currently bullish on NML.

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 50.95 Free Float Shares (mn) 175.80

MA (10-day) 64.10 Free Float Rs (mn) 11,244.16

MA (100-day) 61.20 ** NOI Rs (mn) 66.71

MA (200-day) 53.81 Mean 64.17

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed down -0.78 at 133.28. Volume was 61 per cent below average

(consolidating) and Bollinger Bands were 151 per cent wider than normal.

FFC is currently 14.7 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect mod-

erate flows of volume into FFC (mildly bullish). Trend forecasting oscilla-

tors are currently bearish on FFC.

*Arif Habib Ltd. 131.3 Buy

AKD Securities Ltd 120.7 Reduce

TFD Research 129.4 Neutral

RSI (14-day) 51.37 Free Float Shares (mn) 466.49

MA (10-day) 126.82 Free Float Rs (mn) 62,173.43

MA (100-day) 126.04 ** NOI Rs (mn) 73.14

MA (200-day) 116.15 Mean 133.74

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed up 0.41 at 319.13. Volume was 72 per cent below average

(consolidating) and Bollinger Bands were 21 per cent wider than normal.

POL is currently 23.2 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 volume

flowing into and out of POL at a relatively equal pace. Trend forecasting

oscillators are currently bullish on POL.

*Arif Habib Ltd. 339 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 363.65 Positive

RSI (14-day) 54.43 Free Float Shares (mn) 107.94

MA (10-day) 317.63 Free Float Rs (mn) 34,447.84

MA (100-day) 292.47 ** NOI Rs (mn) 255.57

MA (200-day) 259.13 Mean 319.30

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,453.58 1,471.33 1,443.13 1,453.83 0.25 0.02

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

508,389 - - 29,771.58 mn 18,700.31 mn 1,463.47

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

16.02 0.35 2.21 104.74 10.16 1,438.31

1st Fid Leasing 264 - 1.50 1.74 1.50 1.60 0.10 5060 2.34 1.16 - - - -

AL-Meezan Mutual F. 1375 4.07 10.12 10.10 9.80 10.10 -0.02 78000 11.50 7.81 18.5 - 5.00 -

AL-Noor Modaraba 210 1.92 3.30 3.30 3.30 3.30 0.00 200 3.50 2.76 5 - - -

B R R Guardian Mod. 780 1.85 1.69 1.75 1.69 1.70 0.01 19652 2.79 1.12 0 - - -

Constellation Modaraba 65 1.76 1.16 1.47 1.30 1.30 0.14 1510 1.99 0.90 - - - -

Crescent St Modaraba 200 1.30 0.55 0.62 0.52 0.57 0.02 29273 0.87 0.35 1.2 - - -

First Dawood Mutual F. 581 0.68 2.12 2.17 2.00 2.00 -0.12 3107 2.57 1.61 - - - -

Golden Arrow 760 1.49 3.22 3.40 3.25 3.25 0.03 29603 3.89 2.92 17 - - -

Habib Modaraba 1008 6.44 7.25 7.50 7.39 7.47 0.22 885 7.50 6.50 21 - - -

JS Value Fund 1186 1.21 5.23 5.50 5.00 5.03 -0.20 154508 6.61 4.20 10 - - -

Meezan Balanced Fund 1200 2.59 9.00 9.00 9.00 9.00 0.00 51000 10.24 7.05 15.5 - - -

Mod Al-Mali 184 11.90 1.16 1.49 1.15 1.19 0.03 1524 2.50 1.15 - - - -

Nat Bank Modaraba 250 7.44 5.77 6.25 6.10 6.25 0.48 26500 7.58 4.85 10 - - -

PICIC Energy Fund XD 1000 3.04 7.46 7.35 7.01 7.35 -0.11 23000 8.83 6.21 10 - 10.00 -

PICIC Growth Fund XD 2835 3.74 12.50 12.55 12.35 12.48 -0.02 17112 16.49 12.10 20 - 12.50 -

PICIC Inv Fund XD 2841 2.84 5.30 5.34 5.17 5.23 -0.07 42836 7.95 5.10 10 - 7.50 -

Stand Chart Modaraba 454 5.08 9.91 9.99 9.60 9.95 0.04 22830 10.63 9.00 17 - - -

Tri-Star Mutual 50 0.99 1.01 1.45 1.37 1.49 0.48 546 1.95 0.60 - - - -

Trust Modaraba 298 2.62 1.99 2.25 1.75 2.20 0.21 1000 2.49 1.16 5 - - -

U D L Modaraba 264 2.29 6.36 7.10 7.10 6.36 0.00 200 7.25 5.60 12.5 - 7.50 -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

348.03 357.50 343.21 346.91 -1.13 -0.32

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

2,079,301 - - 30,336.44 mn 16,591.98 mn 354.08

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

11.50 0.23 0.91 99.56 3.88 341.93

AMZ Ventures 225 1.27 0.61 0.69 0.55 0.61 0.00 77421 0.95 0.33 - - - -

Arif Habib Investments 360 4.05 23.75 24.29 23.25 23.80 0.05 8222 24.86 16.80 - 20B - -

Arif Habib Limited 450 18.10 21.92 22.75 21.65 22.08 0.16 48511 28.00 18.31 - 20B - -

Arif Habib Corp 3750 4.69 23.43 24.33 23.20 24.03 0.60 3990586 30.20 18.75 30 - - -

Dawood Equities 250 543.33 1.84 1.85 1.56 1.63 -0.21 1101 2.75 1.06 - - - -

First Credit & Invest Bank Ltd 650 - 3.25 3.25 3.25 3.25 0.00 20500 4.00 2.15 - - - -

IGI Investment Bank 2121 9.27 2.09 2.20 2.01 2.04 -0.05 2507 3.90 1.90 - - - -

Invest Bank 2849 - 0.55 0.57 0.50 0.55 0.00 296 1.09 0.31 - - - -

Ist Cap Securities 3166 - 3.10 3.14 3.07 3.10 0.00 11721 3.95 2.90 - 10B - -

Ist Dawood Bank 626 0.87 1.60 1.69 1.65 1.66 0.06 3200 2.00 1.05 - - - -

Jah Siddiq Co 7633 - 9.16 9.39 9.01 9.14 -0.02 1611411 12.80 8.01 10 - - -

JOV and CO 508 825.00 3.25 3.44 3.25 3.30 0.05 53376 4.49 2.58 - - - -

JS Global Cap 500 7.26 25.51 26.30 25.00 25.25 -0.26 5649 31.50 20.80 - - - -

JS Investment 1000 - 5.54 5.69 5.40 5.42 -0.12 10550 7.40 5.10 - - - -

KASB Securities 1000 - 4.65 4.65 4.50 4.52 -0.13 23569 5.43 3.75 - - - -

Orix Leasing 821 4.17 6.15 6.01 6.01 6.01 -0.14 1064 7.09 5.25 - - - -

Pervez Ahmed Sec 775 4.35 2.11 2.18 2.08 2.09 -0.02 219058 2.50 1.21 - - - -

Trust Inv Bank 586 0.56 1.76 1.99 1.98 1.98 0.22 1500 2.00 0.61 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

740.60 750.79 725.96 743.03 2.44 0.33

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

19,160 - - 2,290.72 mn 8,769.14 mn 748.94

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

5.40 3.22 3.85 355.53 4.25 729.58

East West Life 500 - 1.95 2.00 2.00 2.00 0.05 500 3.84 1.52 - 20R - -

EFU Life Assurance 850 33.65 58.95 60.00 58.50 59.23 0.28 18645 79.80 51.31 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,137.84 1,153.44 1,130.10 1,136.82 -1.02 -0.09

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

9,014,685 - - 257,548.02 mn 695,770.31 mn 1,148.86

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.17 1.14 13.94 40.49 4.95 1,135.41

Allied Bank Ltd.XDXB 8603 5.52 58.85 59.87 58.49 58.53 -0.32 46993 74.00 57.99 40 10B - -

Askari Bank 6427 6.64 14.14 14.10 13.90 13.94 -0.20 171039 19.25 12.55 - 10B - -

Bank Alfalah 13492 6.79 9.28 9.27 9.01 9.17 -0.11 410532 11.99 8.75 - - - -

Bank AL-HabibXDXB 8786 5.59 28.00 28.40 27.26 27.52 -0.48 219617 39.49 27.22 20 20B - -

Bank Of Khyber 5004 3.72 4.20 4.24 4.10 4.20 0.00 16163 4.65 3.75 - - - -

Bank Of Punjab 5288 - 7.21 7.29 7.11 7.13 -0.08 449609 10.23 6.40 - - - -

BankIslami Pak 5280 39.00 3.44 3.55 3.41 3.51 0.07 116001 4.50 3.06 - - - -

Faysal Bank 7327 4.29 13.31 13.90 13.00 13.31 0.00 25866 16.47 10.69 - 20B - -

Habib Bank LtdSPOT 10019 7.99 127.84 128.50 126.85 127.99 0.15 131048 131.00 114.01 65 10B - -

Habib Metropolitan Bank 8732 7.26 23.74 24.00 23.69 23.75 0.01 25440 29.28 22.50 - 20B - -

JS Bank Ltd 8150 - 2.80 2.90 2.50 2.61 -0.19 51265 3.16 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.53 1.59 1.48 1.55 0.02 92585 2.79 1.40 - - - -

MCB Bank Ltd 7602 10.17 225.20 228.40 225.17 225.77 0.57 513243 250.48 195.55 85 10B - -

Meezan BankSPOT 6983 7.98 18.64 19.10 18.50 18.83 0.19 85105 20.30 15.30 - 15B - -

Mybank Ltd 5304 - 2.10 2.25 2.01 2.12 0.02 18100 3.40 2.00 - - - -

National Bank 13455 6.92 78.90 79.90 78.91 79.26 0.36 4472632 81.78 66.01 75 25B - -

NIB Bank 40437 - 2.05 2.17 2.06 2.14 0.09 877295 3.35 1.90 -154.79R - -

Samba Bank 14335 - 1.72 1.80 1.72 1.80 0.08 61614 2.12 1.50 -63.46R - -

Silkbank Ltd 26716 - 2.19 2.28 2.19 2.25 0.06 793637 3.05 2.06 - - - -

Soneri Bank 6023 29.33 6.31 6.48 6.11 6.16 -0.15 24729 8.48 5.00 - - - -

Stand Chart Bank 38716 9.60 9.14 9.18 9.00 9.12 -0.02 33206 9.90 6.28 6 - - -

Summit Bank Ltd 7251 - 3.00 3.07 2.93 3.05 0.05 53631 4.63 2.85 - - - -

United Bank LtdSPOT 12242 7.54 64.79 65.50 64.05 64.19 -0.60 378966 70.65 56.89 50 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

758.81 777.96 754.57 765.30 6.48 0.85

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

1,199,331 - - 11,111.34 mn 48,245.20 mn 770.45

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

12.87 0.67 5.20 79.54 6.18 745.42

Adamjee Insurance 1237 23.15 80.07 81.25 79.10 79.87 -0.20 127383 96.40 71.55 10 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,451.64 1,490.05 1,412.36 1,450.73 -0.90 -0.06

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

841,369 - - 12,202.80 mn 32,563.10 mn 1,486.72

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

9.26 1.06 11.41 66.79 7.22 1,450.73

Sui North Gas 5491 11.93 21.11 21.35 20.10 20.28 -0.83 337341 29.39 19.71 20 - - -Sui South Gas 8390 3.85 24.72 25.70 24.50 25.54 0.82 504028 27.90 20.02 15 25B - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,334.16 1,350.92 1,327.47 1,337.79 3.63 0.27

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

1,338,233 - - 95,369.29 mn 106,082.29 mn 1,345.92

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

14.22 1.33 9.35 104.13 7.32 1,333.15

Hub PowerSPOT 11572 7.27 39.48 40.05 39.40 39.72 0.24 179008 41.20 35.90 50 - 25.00 -

Japan Power 1560 - 1.48 1.54 1.38 1.44 -0.04 82617 2.00 1.25 - - - -

KESC 7932 - 2.72 2.79 2.70 2.70 -0.02 456840 3.55 2.31 - 7.8R - -

Kohinoor Energy 1695 7.33 17.48 17.45 16.50 16.87 -0.61 5533 22.85 16.00 15 - 10.00 -

Kot Addu Power XD 8803 5.27 41.05 41.15 40.81 41.05 0.00 47648 45.85 39.80 50 - 30.00 -

Nishat Chunian Power Ltd 3673 2.92 14.63 14.75 14.45 14.55 -0.08 322370 18.01 14.05 - - - -

Nishat Power Ltd 3541 2.30 15.60 15.85 15.57 15.70 0.10 94266 18.70 14.85 - - - -

Sitara Energy Ltd 191 5.54 17.74 18.39 17.05 18.18 0.44 38302 19.25 16.40 20 - - -

Southern Electric 1367 - 1.83 1.86 1.74 1.79 -0.04 75128 2.50 1.41 - - - -

Tri-star Power XD 150 - 0.79 0.84 0.63 0.63 -0.16 36520 1.31 0.50 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,040.89 1,053.45 1,030.26 1,041.97 1.08 0.10

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

1,408,849 - - 50,077.79 mn 72,133.78 mn 1,054.92

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

5.66 0.73 12.84 62.56 11.06 1,040.89

Pak Datacom 78 5.11 47.29 48.00 46.85 47.04 -0.25 2545 82.39 46.67 80 - 15.00 -

Pakistan Telecomm Co A 37740 11.87 17.81 17.95 17.61 17.81 0.00 933366 20.65 17.25 17.5 - - -

Telecard 3000 1.35 2.03 2.09 2.01 2.05 0.02 86246 2.50 1.60 1 - - -

WorldCall Tele 8606 - 2.39 2.54 2.40 2.42 0.03 386692 3.45 2.15 - - - -

Wateen Telecom Ltd 6175 - 3.00 3.09 2.95 3.00 0.00 30049 4.65 2.80 - - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

Ask Gen Insurance 255 6.67 11.00 11.50 11.00 11.00 0.00 2858 12.00 9.51 - 25R - -

Atlas Insurance 369 6.07 40.26 40.40 39.70 39.89 -0.37 7171 42.90 35.47 - 20B - -

Central Insurance XB 279 9.54 79.97 83.96 81.90 83.96 3.99 6966 83.96 60.00 10 10B - -

Century Insurance 457 6.36 9.93 10.37 9.97 10.17 0.24 21230 11.99 8.90 - - - -

Crescent Star Insurance 121 - 4.24 4.00 3.60 4.24 0.00 126 6.30 3.11 - - - -

EFU General Insurance 1250 - 37.01 37.50 36.55 36.59 -0.42 7915 45.40 32.25 - - - -

Habib Insurance 400 3.13 13.07 14.00 12.75 13.13 0.06 2351 15.50 11.72 - - - -

IGI Insurance 718 8.59 97.97 100.00 98.51 99.94 1.97 7022 102.44 88.11 30 55B - -

New Jub Insurance 791 11.24 61.50 64.00 63.00 63.96 2.46 7200 64.00 56.00 35 25B - -

Pak Reinsurance 3000 46.64 17.71 18.48 17.56 18.19 0.48 993595 19.40 13.80 - - - -

Pak Gen Insurance 250 1.58 7.10 6.70 6.70 6.70 -0.40 1000 9.95 6.33 - - - -

PICIC Ins Ltd 350 86.29 11.99 12.99 12.00 12.08 0.09 1910 13.00 6.30 - - - -

Premier Insurance 303 6.19 11.50 12.34 11.13 11.46 -0.04 1600 12.93 10.10 - - - -

Shaheen Insurance 200 - 10.39 9.82 9.82 9.82 -0.57 957 14.20 9.41 - - - 25R

Silver Star Insurance 253 4.27 7.00 6.97 6.45 6.88 -0.12 8902 8.20 6.01 - - - -

United Insurance XB 400 2.38 7.70 7.50 7.22 7.25 -0.45 1145 7.90 5.50 - - - -

UP TO 100 VOLUME

ARPAK 11.97 10.97 10.97 11.97 0.00 100

HUMNL 20.90 20.39 20.05 20.90 0.00 100

KOSM 1.10 1.21 1.21 1.10 0.00 100

LMSM 1.50 1.50 1.50 1.50 0.00 100

PSEL 151.75 144.27 144.27 151.75 0.00 100

TICL 59.20 62.00 60.00 59.20 0.00 100

ULEVER 4759.84 4869.99 4650.56 4850.75 90.91 88

HADC 0.50 0.59 0.48 0.50 0.00 87

AGIL 70.58 71.01 70.81 70.81 0.23 80

SHJS 65.56 68.83 68.75 65.56 0.00 77

GRAYS 45.96 46.00 46.00 45.96 0.00 60

RMPL 2816.88 2800.00 2732.11 2793.89 -22.99 55

DWAE 0.85 1.38 0.86 0.85 0.00 52

PCAL 54.08 54.25 52.90 54.08 0.00 51

TRPOL 0.55 0.80 0.75 0.55 0.00 46

FRSM 18.92 19.90 18.11 18.92 0.00 39

DADX 19.60 18.77 18.76 18.77 -0.83 35

TSBL 5.00 5.89 4.01 5.00 0.00 33

SMBLR 0.01 0.01 0.01 0.01 0.00 31

SAZEW 23.10 22.98 22.71 23.10 0.00 26

FZTM 409.93 389.44 389.44 409.93 0.00 22

PECO 139.85 132.95 132.86 139.85 0.00 22

GWLC 6.99 6.95 6.21 6.99 0.00 21

UPFL 1151.00 1160.00 1101.05 1151.00 0.00 21

NESTLE 3418.44 3478.00 3328.00 3402.50 -15.94 17

FEM 1.75 1.99 1.70 1.75 0.00 15

NJLIC 45.98 46.00 44.10 45.98 0.00 13

JOPP 10.55 10.75 10.75 10.55 0.00 11

AWTX 90.00 89.00 89.00 90.00 0.00 10

FTSM 1.20 1.70 1.70 1.20 0.00 10

GUTM 20.35 21.36 21.36 20.35 0.00 10

PMRS 39.50 37.57 37.57 39.50 0.00 10

SUTM 36.23 34.42 34.42 36.23 0.00 10

FECM 2.75 3.05 2.71 2.75 0.00 9

COLG 818.79 820.00 812.00 817.17 -1.62 8

FTHM 113.00 118.65 118.65 113.00 0.00 8

NSRM 16.00 15.00 15.00 16.00 0.00 8

PAKMI 0.85 1.05 1.05 0.85 0.00 5

SCLL 2.65 2.95 2.95 2.65 0.00 5

SJTM 0.50 1.00 0.99 0.50 0.00 5

SMCPL 5.55 5.98 5.56 5.55 0.00 4

IFSL 6.04 6.50 5.65 6.04 0.00 3

ALICO 15.02 15.50 14.26 15.02 0.00 2

BAWS 5.50 5.85 5.85 5.50 0.00 2

CFL 15.10 16.09 16.08 15.10 0.00 2

CSUML 3.57 3.07 2.90 3.57 0.00 2

FPJM 1.33 1.43 1.23 1.33 0.00 2

NAGC 16.20 17.15 17.15 16.20 0.00 2

OLSM 1.70 2.22 1.10 1.70 0.00 2

SIBL 3.30 4.20 3.50 3.30 0.00 2

ALNRS 45.74 43.47 43.47 45.74 0.00 1

ARUJ 4.60 4.00 4.00 4.60 0.00 1

ATFF 6.48 6.49 6.49 6.48 0.00 1

CWSM 1.17 1.55 1.55 1.17 0.00 1

DCM 1.30 1.50 1.50 1.30 0.00 1

FNEL 4.95 5.43 5.43 4.95 0.00 1

GENP 0.67 0.75 0.75 0.67 0.00 1

GUSM 8.30 8.31 8.31 8.30 0.00 1

JATM 2.90 2.00 2.00 2.90 0.00 1

LAKST 255.14 254.99 254.99 255.14 0.00 1

LPGL 16.46 16.44 16.44 16.44 -0.02 1

MSOT 17.81 18.48 18.48 17.81 0.00 1

PMI 1.00 1.10 1.10 1.00 0.00 1

WAZIR 6.14 5.60 5.60 6.14 0.00 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

NCL-MAR 27.94 29.18 27.45 28.89 0.95 1320500

NBP-MARB 58.12 58.80 58.02 58.28 0.16 809500

ENGRO-MAR 195.71 197.00 194.70 196.59 0.88 447000

FFBL-MAR 40.16 40.29 39.80 40.03 -0.13 412000

POL-MAR 320.07 322.00 318.55 320.29 0.22 222000

NML-MAR 64.46 64.86 64.05 64.25 -0.21 189000

FFC-MAR 134.69 135.00 133.25 133.64 -1.05 126500

MCB-MAR 204.00 205.58 203.25 203.96 -0.04 81000

DGKC-MAR 24.50 24.50 24.30 24.36 -0.14 66000

PPL-MAR 210.91 212.00 210.50 210.52 -0.39 39000

ANL-MAR 9.13 9.25 9.05 9.18 0.05 36500

PSO-MAR 283.32 282.50 281.50 281.98 -1.34 29500

OGDC-MAR 154.95 154.25 153.20 153.25 -1.70 21000

LUCK-MAR 68.68 68.97 68.05 68.05 -0.63 18500

UBL-MARB 61.05 63.00 61.10 61.10 0.05 14000

AICL-MAR 80.68 81.10 80.01 80.24 -0.44 9000

BOP-MAR 7.21 7.49 7.20 7.22 0.01 8000

NETSOL-MAR 23.56 23.00 22.75 22.89 -0.67 7000

ABL-CMARW260.55 60.55 60.55 58.67 -1.88 0.00

ABL-CMAY 60.98 0.00 0.00 60.62 -0.36 0.00

AICL-CAPR 81.90 0.00 0.00 81.66 -0.24 0.00

AICL-CMAR 80.57 0.00 0.00 80.33 -0.24 0.00

AICL-CMARW282.01 82.01 82.01 80.06 -1.95 0.00

AICL-CMAY 82.97 0.00 0.00 82.72 -0.25 0.00

AKBL-CAPR 14.46 0.00 0.00 14.25 -0.21 0.00

Symbols Open High Low Close Change Vol

ZERO VOLUME

MOON 15.99 15.96 15.96 15.96 -0.03 0.00

MUCL 12.58 12.53 12.53 12.53 -0.05 0.00

ZHCM 0.30 0.37 0.37 0.37 0.07 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 45.64 2.55 2.50 2.65 2.70 2.60

Allied Bank Limited 30.41 58.05 57.60 59.45 60.35 58.95

Attock Cement 40.26 50.65 50.15 51.95 52.75 51.45

Arif Habib Limited 49.24 21.55 21.05 22.65 23.25 22.15

Arif Habib Corp 57.33 23.35 22.70 24.50 25.00 23.85

Adamjee Insurance 43.63 78.90 77.90 81.05 82.20 80.05

Askari Bank 36.68 13.85 13.80 14.05 14.20 14.00

Azgard Nine 42.59 9.00 8.95 9.20 9.30 9.15

Attock Petroleum 45.50 353.05 351.30 357.55 360.25 355.75

Attock Refinery 51.52 117.80 117.15 119.45 120.40 118.75

Bank Al-Falah 31.83 9.05 8.90 9.30 9.40 9.15

BankIslami Pak 46.96 3.45 3.35 3.55 3.65 3.50

Bank.Of.Punjab 39.62 7.05 7.00 7.25 7.35 7.20

Dewan Cement 45.44 1.70 1.55 1.90 2.05 1.80

D.G.K.Cement 44.86 24.75 24.55 25.35 25.70 25.10

Dewan Salman 49.54 2.75 2.65 2.90 3.00 2.85

Dost Steels Ltd 45.30 2.10 2.05 2.20 2.25 2.15

EFU General Insurance 45.79 36.25 35.95 37.20 37.85 36.90

EFU Life Assurance 49.40 58.50 57.75 60.00 60.75 59.25

Engro Corp 69.20 234.25 231.95 238.10 239.65 235.80

Faysal Bank 49.77 12.90 12.50 13.80 14.30 13.40

Fauji Cement 38.71 4.15 4.10 4.30 4.35 4.20

Fauji Fert Bin 41.96 39.50 39.15 40.35 40.85 40.00

Fauji Fertilizer 51.49 132.35 131.45 134.55 135.80 133.65

Habib Bank Ltd 60.58 127.05 126.15 128.70 129.45 127.80

Hub Power 58.17 39.40 39.05 40.05 40.35 39.70

ICI Pakistan 64.42 157.90 153.50 164.80 167.30 160.40

Indus Motors 22.28 224.00 222.00 229.00 232.00 227.00

J.O.V.and CO 45.52 3.20 3.15 3.40 3.50 3.35

Japan Power 45.26 1.35 1.30 1.50 1.60 1.45

JS Bank Ltd 42.19 2.45 2.25 2.85 3.05 2.65

Kot Addu Power 37.68 40.85 40.65 41.20 41.35 41.00

K.E.S.C 50.06 2.70 2.65 2.80 2.85 2.75

Lucky Cement 51.69 67.85 67.50 68.70 69.30 68.40

MCB Bank Ltd 58.45 224.50 223.20 227.75 229.70 226.45

Maple Leaf Cement 43.11 2.20 2.10 2.35 2.45 2.30

National Bank 60.54 78.80 78.35 79.80 80.35 79.35

Nishat (Chunian) 69.49 28.00 26.95 29.60 30.15 28.55

Netsol Technologies 48.55 22.35 22.05 23.10 23.55 22.80

NIB Bank 33.65 2.05 2.00 2.20 2.25 2.10

Nimir Ind.Chemical 64.16 2.70 2.40 3.25 3.45 2.95

Nishat Mills 50.88 63.50 63.10 64.60 65.25 64.15

Oil & Gas Dev. XD 39.00 152.50 151.35 155.35 157.00 154.20

PACE (Pakistan) Ltd. 45.85 2.75 2.70 2.85 2.95 2.80

Pervez Ahmed Sec 56.17 2.05 2.00 2.15 2.20 2.10

P.I.A.C.(A) 53.58 2.65 2.60 2.80 2.95 2.75

Pioneer Cement 51.63 5.90 5.70 6.25 6.35 6.00

Pak Oilfields 54.36 317.20 315.25 321.45 323.75 319.50

Pak Petroleum 53.66 209.40 208.20 212.40 214.20 211.20

Pak Suzuki 40.07 59.75 58.55 62.55 64.10 61.35

P.S.O. XD 47.34 280.80 280.15 282.30 283.15 281.65

P.T.C.L.A 41.08 17.65 17.45 17.95 18.15 17.80

Shell Pakistan 50.09 204.15 202.60 208.10 210.55 206.55

Sui North Gas 29.16 19.80 19.35 21.05 21.85 20.60

Sitara Peroxide 76.40 16.10 15.50 17.05 17.35 16.40

Sui South Gas 57.40 24.80 24.05 26.00 26.45 25.25

Telecard 50.22 2.00 1.95 2.10 2.15 2.05

TRG Pakistan 52.19 3.10 3.05 3.30 3.45 3.25

United Bank Ltd 50.44 63.65 63.15 65.10 66.05 64.60

WorldCall Tele 42.97 2.35 2.30 2.50 2.60 2.45

Jah Siddiq Co 44.21 8.95 8.80 9.35 9.55 9.20

Lotte Pakistan 54.86 15.85 15.75 16.05 16.15 15.95

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Askari General Insurance 15-Mar 11:00

Atlas Honda Limited 16-Mar 11:00

Pak Tobacco Comp Ltd 16-Mar 2:00

Century Insur Comp Ltd 18-Mar 10:30

Security Investment 18-Mar 4:30

The Universal Insurance Co Limited 19-Mar 11:30

Pak Gum & Chem Ltd 21-Mar 11:00

Pak International Airlines 26-Mar 10:00

BOARD MEETINGS

Company Date Time

Tuesday, March 15, 2011 8

ABU DHABI: The UAE'sEtisalat plans to invest $100million in Afghanistanbetween 2011 and 2012 andseeks to launch third-genera-tion telecoms services thisyear, a top executive has said.

Etisalat Afghanistan's ChiefExecutive Saeed al Hamli saidthe company expects sub-scribers in the troubled countryto more than double withintwo to three years and pushmarket share to between 30 to35 per cent.

"Our budget is $100 milliondollars for 2011 to 2012," alHamli told reporters at thetelco's Abu Dhabi headquar-ters. "We expect our sub-scribers to reach 6 to 6.6 mil-lion in two to three years."

It currently has 3 millionsubscribers with a marketshare of 24 per cent.

Afghanistan's mobile carri-ers are market-leading Roshan,South Africa's MTN GroupLtd , Etisalat and AfghanWireless TelecommunicationsCo.

Al Hamli said the company,which has invested $300 mil-lion in Afghanistan since2007, also plans to acquire anexisting internet serviceprovider within the next twomonths.

"For us, it is a strategic dealon the enterprise side," he said.

Mobile phone use has mush-roomed since the fall of theTaliban in late 2001, whenAfghanistan, one of theworld's poorest countries, hadonly a few thousand landlinesand no international service.

The sector now has 13.3 mil-lion mobile phone users and isthe biggest source of tax rev-enue for the government ofPresident Hamid Karzai, gen-erating $129 million last year.

Cumulative revenue from thesector is expected to reach$800 million in five years. Sofar, investments in the Afghantelecom sector is $1.2 billion.

Government ministerBaryalai Hassam told Reutersin November that theTelecommunications Ministrywas in talks with the fourAfghan mobile carriers toupgrade to a 3G or 4G networkto provide faster Internet serv-ice to the Afghan market.

Al Hamli said the companyplans to launch 3G servicesthis year as soon as it receivesa licence.

"We are waiting for the 3Glicence which we are hopefulto get soon," he said. "We areready. We have the technolo-gy."-Reuters

Afghans toget best ofEtisalat’sinvestitude

Zain boardapprovesKingdom,

Batelco offerKUWAIT: A majority of theboard of Zain approved onSunday an offer by KingdomHolding and Bahrain Telecomfor the Kuwait telecom firm'sSaudi assets, sources familiarwith the matter said.

The board approved the offerwith a vote of five to two, onesource, who declined to beidentified, told Reuters.

Kingdom and Batelcooffered to buy the assets at 10Saudi riyals ($2.67) per share,paying $1.2 billion in total,and agreeing to take over $3.8billion of debt, another sourcesaid.-Reuters

Samsungerseye NokiaSymbiancreators

HELSINKI : SamsungElectronics is luring developersworking on Nokia's Symbianplatform to change sides as theFinnish company is to abandonthis platform. Nokia, theworld's largest handset maker,said last month it would replaceSymbian with Microsoft'sWindows Phone to challengeApple and Google in the fast-growing smartphone industry.

"If you are a Symbian devel-oper unhappy about Nokia'srecent announcements, and arehence looking for a new plat-form to showcase your talents,we say 'Hello!' and 'welcome tobada (operating system),' said anewsletter posted by aSamsung developer on theInternet and quoted in onlinemedia.

"If you're new to the badadevelopment, or are movingyour app from Symbian, we'dlike to welcome you." Bada isSamsung's own operating sys-tem aimed at the low to mid-ranged smartphone market.-Reuters

SEOUL: Pyo Hyun-Myung, president of the Personal Customer Group at KT Corp, explains

network devices during a launching ceremony of fourth-generation (4G) WiBro network.-Reuters

ISLAMABAD: Ufone one ofthe leading telecommunica-tion companies in Pakistanhas set yet another standardwith the launch of three amaz-ingly packed android phones.

The biggest success lieswith the launch of the"Image", Ufone is the firstcompany in Asia to launchthis handset which will allowthe people of Pakistan to getwowed by the device experi-ence before anyone else onthe continent. Android OSphones are the new big thingin the handset arena and havecreated a storm in the globaltelecom community.

Keeping in line with thestrong tradition of marketleadership in the handsetarena, Ufone is proud to pres-ent three state of the artAndroid OS based handsetsthe Image, Verve & IDEOSfor its valued customers.

These remarkable deviceshave arrived in great fashionat the lowest and most com-

petitive prices and have fur-ther been strengthened withamazing 30 MB GPRS/EDGEbonus buckets every monthfor 6 to 18months for cus-tomers to make the most oftheir Android Experience withhundreds of thousands of freeApplications, Games &Utilities that can be down-loaded from the free-to-sub-scribe Android Market.

Akbar Khan ChiefMarketing Officer Ufone saidthat Ufone has once againtaken a giant leap to bring asmile to our valued cus-tomers. The launch of thesehandsets is sure to start a newtrend and allow Ufone cus-tomers to enjoy the latest intechnology.

The amazing prices and fea-tures of the Android OS issure to get an amazingresponse. The Android OS is aglobal success and we wish toshare the same success andpleasure of this OS with thepeople of Pakistan.-NNI

Ufone rings inAndroid cellsetsISLAMABAD: Prime Minister

Syed Yousuf Raza Gilani has saidthat human resource developmentin the field of InformationTechnology would facilitateexpansion of IT and TelecomSector in the country.

He emphasised on the earlyestablishment of IT institutes inthe under developed areas of thecountry to equip the youth therewith requisite knowledge andskills. The Prime Minister waschairing a meeting here at the PMHouse to review the status of hisdirectives to establish IT universi-ties/institutes in the under devel-oped areas of the four provinces,AJK and Gilgit Baltistan.

The Prime Minister directedthat in the cities, towns ear-marked for the establishment ofIT Institutes, preference shouldbe accorded to places whereinfrastructure in the shape ofUniversity or College is alreadyavailable.

He further directed that time-lines for the establishment of ITInstitutes in respect ofUniversities and Colleges inaccordance with his directives befixed to ensure early benefit tothe people. The Prime Ministerasked the Ministry of IT to con-duct fresh survey of variousunder developed areas of thecountry on urgent basis to deter-

mine the exact needs for estab-lishing the IT Institutes andUniversities.

The survey should also focuson the future teledensityprospects of the regions, he said,adding, the model of virtual uni-versity campus could also beadopted at some places if appro-priate.

The Prime Minister, howevermaintained that the input of theuniversities and colleges wherethe institutes would be establishedbe given due consideration.

Earlier Secretary IT briefed themeeting on the progress on thePrime Minister's directives andannouncements for the establish-ment of IT Institutes andUniversities in various underdeveloped areas and regions ofthe country.

He mentioned that thecities/towns earmarked for theestablishment of IT Institutes andUniversities have been distrib-uted into two categories. The firstcategory includes places wherebasic infrastructure in the shapeof universities and colleges isavailable and the second catego-ry requires building and infra-structure for the IT institutes anduniversities.

He further informed thatpresently around 20000 IT gradu-ates are being produced per year

while the requirement wouldincrease in the future after adop-tion of new technologies in thetelecom and IT sectors. The estab-lishment of IT institutes in the firstcategory would be completed inone year with an estimated cost ofRs210 million, he added.

The IT institutes/universities incategory two, he added, wouldrequire three years to completewith an estimated cost of Rs1.5billion once the amount is madeavailable.

The establishment of ITInstitutes would create jobopportunities and after introduc-tion of modern technology andexpansion of IT and Telecomsector, the job opportunitieswould further increase, he added.

The meeting was also attendedby Minister for Finance DrAbdul Hafeez Sheikh, Ministerfor Law and Justice DrZaheeruddin Babar Awan,Minister for Privatisation SyedNaveed Qamar, SecretaryCabinet Nargis Sethi, SecretaryFinance Dr Waqar MasoodKhan, Secretary InformationTechnology Saeed Ahmed Khan,Chairman PakistanTelecommunication Authority(PTA) Dr Muhammad Yaseenand Chairman Board ofInvestment (BOI) Saleem HMandviwala.-APP

Telecomisation, the faster, the better: Gilani

DUBAI: A man talks on his mobile phone as he walks past the

Etisalat Telecommunications building.-Reuters

RIYADH: Saudi Telecom Co (STC) said itplanned to raise its share in its affiliate NTS inIndonesia to 80 per cent, and lend it more than$370 million, as it readies to expand in theIndonesian market.

Natrindo Telepon Selular (NTS Indonesia),now 51 per cent owned by STC and 44 per centowned by Malaysia's Maxis CommunicationsBhd (MCB), has set up a five-year plan toexpand in Indonesia's telecom market, STC saidin a bourse statement.

"Saudi Telecom has shown interest in takingthis opportunity to increase its shares in (NTS)due to the growth prospects in the Indonesianeconomy," STC said.

"It agreed on to give an initial loan of $81 mil-

lion, followed by another loan of $290 million tobe paid according to the firm's operationalneeds," the firm said.

The deal will cancel all the loans made to NTSby Maxis Communications, amounting toalmost $412 million, and increase STC's stake to80.1 per cent from 51 per cent.

Maxis Communications' share will fall to 14.9per cent from 44 per cent, while the local partnerwill maintain a 5 per cent stake.

The deal has yet to be approved by theIndonesian regulators.

NTS began its mobile phone services in 2008and has more than 10 million customers, cover-ing 400 cities in Indonesia, the statementadded.-Reuters

Saudi STC to deepenstake in Indonesia co

French telco,Kuwait’s

Agility aimIraq co stake PARIS: France Telecom andKuwaiti logistics group Agilityare to acquire a 44 per centstake in fast-growing Iraqimobile operator KorekTelecom, the groups said in ajoint statement on Monday.

The two groups will form ajoint venture, 54 per cent-owned by Agility, to control thestake, they said.

France Telecom will pay$245 million for its 20 per centindirect stake in Korek, andwill also extend a $185 million4-year loan to the Iraqi opera-tor, according to the statement.

Meanwhile, Agility will con-tribute existing convertibledebt and inject an additional$50 million for its 24 per centindirect stake. The Kuwaitigroup's shares hit a one-monthhigh on the news.

France Telecom, which isstepping up expansion in theMiddle East and Africa, alsohas an option to increase itsstake to 27 per cent in 2014. Itwould also be able to buy someof Agility's stake and control upto 51 per cent of Korek by2016.

"The acquisition of this stakein Korek Telecom is a new stepin our policy of expansion out-side Europe, and contributes toour stated aim of doubling ourrevenues in Africa and theMiddle East by 2015," FranceTelecom Chief ExecutiveStephane Richard said in thestatement.

The French group last yearsolidified its control of Egypt'sMobinil by settling a long legalwar over ownership with itspartner Orascom. It also spent640 million euros

Korek, which is based in thesemi-autonomous region ofIraqi Kurdistan, holds one ofthe country's three nationalmobile licences. It began acountrywide expansion in 2008and has almost three millionsubscribers.

The group said it would usethe proceeds for the payment oflicence fees, reduction of out-standing borrowings, and forimprovement and expansion ofnetwork and services.-Reuters

Iraq’s 4thmobile

licence tocost $1-2bn

BAGHDAD: Iraq's communi-cations minister said heexpected the country's plannedfourth mobile phone operatorlicence to fetch between $1billion to $2 billion in a possi-ble auction by the end of thisyear.

Mohammed Allawi, whotook over the communicationsportfolio in December, said theexpected cost for the licence,including installations andinfrastructure costs, could befrom $1 to $2 billion, correct-ing an earlier statement hemade.

"The infrastructure and thelicence fees. Both (will be)between $1-2 billion. This isan estimated figure," Allawitold Reuters.

Allawi said Iraq hoped toauction a fourth mobile phoneoperator licence by the end of2011. Forty per cent of thelicence would go to an opera-tor, 35 per cent to the publicand 25 per cent to theCommunications Ministry.Iraq's mobile phone market,which did not exist underSaddam Hussein, has mush-roomed since the 2003 U.S.-led invasion that toppled him.

The country held an auctionin 2007 in which Kuwait'sZain, AsiaCell and KorekTelecom -- based in the north-ern Kurdish area -- bought 15-year licences for $1.25 billioneach.-Reuters

Galaxy Prohits shopshelves

Staff Reporter

KARACHI: Samsung haslaunched the Galaxy ProSmartphone. It features Samsung's inte-grated Social Hub Premiumand the innovative dual-inputinterface control via a touch-screen and full Qwerty key-board, the Galaxy Pro is theperfect business partner andsocial secretary for yourSmart Life. The ManagingDirector Samsung Pakistan,Hee Chang Yee said.

"The Galaxy Pro is the per-fect device for professionalslooking to manage their busywork and social lives. Whenyou want to get ahead - andstay ahead - in life, you wanta Smartphone that can giveyou the edge." It is equippedwith the "Think Free" OfficeDocument Editor, for MSWord, Excel and PowerPointdocuments on-the-move.

LONDON: Copper steadied onMonday, but prices were under-mined by the unfolding disasterin Japan and tensions in theMiddle East, which erodedinvestor sentiment and prompteda flurry of selling.

The metal used widely inpower and construction gleanedsupport, however, from expecta-tions for stronger demand in thelong term for rebuilding roads,railways and other infrastructure.

Benchmark copper on theLondon Metal Exchange closedat $9,195 from $9,190 a tonne atthe close on Friday, when theindustrial metal hit a three-monthlow of $8,992 a tonne.

"The market is very confused atthe moment. There is a big ques-tion mark over global growth andend-users' demand for industrialmetals," said Numis Securitiesbase metals analyst AndyDavidson, talking of the impactof earthquake in Japan and of thepolitical crisis in North Africaand the Middle East.

"But some people are alsolooking through and think,'Actually, rebuilding is going toboost demand for metals'. It's allvery sentiment-driven at themoment." Conflict in the MiddleEast has pushed crude oil to two-

and-a-half year highs recently,which has raised concerns aboutglobal economic growth anddemand for industrial metals.

Japan's already weak economyfaces deeper damage than initial-

ly thought from the triple blow ofthe earthquake, tsunami andnuclear disaster, which risks pro-longing its sluggish recovery.

At worst, forecasts from someeconomists suggest the world's

third-largest economy is in dan-ger of slipping back into reces-sion. "The disruption to indus-trial sector activity is likely tohave a negative impact on theindustrial metals and bulk com-modity sectors," DeutscheBank said in a note.

"However, we expect attentionwill turn to reconstruction. Wewould expect copper and zincwould be the principal benefici-aries of a large-scale reconstruc-tion programme."

Also negative was data fromChina, the world's largest con-sumer of industrial metals, whichshowed money growth and banklending slowed sharply inFebruary because of tighter mon-etary policy to rein in inflation.

Three-month aluminium closedat $2,555 a tonne from $2,545 onFriday, zinc ended at at $2,330from $2,276, lead at $2,520 from$2,425 and nickel at $25,850from $26,095.

Tin closed at $29,900 up from$29,500. -Reuters

Copper steady, Japan seismshakes investor sentiment

9Tuesday, March 15, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1255

January (3rd Wednesday) 1310 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for March 11 2011

LME Official Prices, US$ per tonne for March 11 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2370 2490 9047.5 2428 25670 29340 2259 2471

Cash seller 2375 2491 9048 2428.5 25675 29350 2260 2472

3-months buyer 2350 2533.5 9072 2414.5 25650 29325 2274.5 2500

3-months seller 2351 2534 9073 2415 25655 29350 2275 2510

15-months buyer 2335 2613 9065 2368 24870 29200 2328 2570

15-months seller 2345 2618 9075 2373 24970 29250 2333 2580

27-months buyer 2335 2670 8820 2320 24005 2328 2625

27-months seller 2345 2675 8830 2325 24105 2333 2635

LONDON METAL EXCHANGE (METALS)

LONDON: Oil trimmed losseson Monday on continued unrestin oil rich North Africa and theMiddle East, while concernsover the economic impact fromJapan's massive earthquake lastweek continued to drag oninvestor confidence.

ICE Brent crude was trading87 cents lower at $112.97 a bar-rel by 1535 GMT, reversing a$3 drop to a two-week low of$111.16 earlier inthe day.

US crude was$1.19 lower at$99.97 by thesame time, afterhitting an intradaylow of $98.55.

Prices pushed off the lowsafter Saudi Arabia sent troopsinto Bahrain on Monday to helpput down weeks of protests bythe Shi'ite Muslim majority, amove opponents of the Sunniruling family there called a dec-laration of war.

Bahrain, an island off thecoast of Saudi Arabia, called inforces from its Sunni neigh-bours to quell the unrest afterprotesters overwhelmed policeand blocked roads in a resur-gence of mass protests seen last

month.Christopher Bellew with

Bache Commodities said theunrest in the region would con-tinue to provide support to oilprices.

"With the continuing andarguably worsening unrest inthe Middle East, I would expectthe oil market to move higheragain," he said.

Barclays Capital said devel-opments in Bahrain would be"an important touchstone" forthe rest of the Gulf region.

"While the capacity of centralgovernment to maintain inter-nal control is high elsewhere inthe GCC (Gulf CooperationCouncil), that is not currentlythe case in Bahrain, and itappears likely that the othergovernments are determined tocontain unrest to Bahrain forfear of a heightened externalinfluence in the region," the

bank said in a research note.Still, global markets remained

under pressure due to the catas-trophe in Japan, where oildemand from the world numberthree energy consumer, wasexpected to fall in the short tomedium term as economicactivity stalls following thequake.

Refined oil products and gasprices, howev-er, were out-p e r f o r m i n gcrude oilprices due toan expectedincrease ini m p o r tdemand incoming weeks

and months from Japan to coverlost oil refining and nuclearpower generation capacity.

Construction shares were upin Asia as northeast Japan wasexpected to need extensivereconstruction work.

In Yemen, heavy gunfire washeard south of the capital onMonday and soldiers deployedin force in Sanaa itself, with anew wave of rallies reportedacross the country demandingPresident Ali Abdullah Salehquit. -Reuters

Oil trims loss on Mideastunrest, Japan weighs

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Monday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Mar11910.00-25.00, Apr11 913.00-22.00, May11/Jul11 918.00-22.00, Aug11/Oct11 925.00-25.00, Nov11/Jan12 930.00,Feb12/Apr12 935.00.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul11985.00-15.00, Aug11/Oct11930.00-15.00, Nov11/Jan12935.00-15.00, Feb12/Apr12940.00-20.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1390.00-10.00,Jul11/Sep11 1395.00-10.00,Oct11/Dec11 1355.00-20.00.

LINOIL: Any origin dlrstonne extank RotterdamMar11/Apr11 1572.50+12.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Apr111152.50, Apr11/Jun11 1150.00-17.50, Jul11/Sep11 1130.00-12.50.

PALMOIL: RBD dlrs tonnecif Rotterdam Apr11 1220.00,May11/Jun11 1202.50,Jul11/Sep11 1162.50.

PALMOIL: RBD dlrs tonnefob Malaysia Apr11 1165.00-20.00, May11/Jun11 1147.50-12.50, Jul11/Sep11 1107.50-12.50.

PALM OLEIN: RBD dlrstonne fob Malaysia Apr111175.00-20.00, May11/Jun111157.50-12.50, Jul11/Sep111117.50-12.50, Oct11/Dec111107.50-7.50.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamMar11/Apr11 1850.00+110.00,Apr11/May11 1830.00+110.00,May11/Jun11 1800.00+130.00.

CASTOROIL: Any origindlrs tonne extank RotterdamMay11/Jun11 2695.00+0.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

14-Mar-2011 CRUDE100 MA11 US$ Per Barrel 99.45 101.44 98.62 99.56 514 99.47 99.56 67

14-Mar-2011 CRUDE100 AP11 US$ Per Barrel 101.15 102.36 99.91 100.74 187 100.73 100.74 18

14-Mar-2011 CRUDE100 MY11 US$ Per Barrel 101.40 101.40 101.36 101.36 - 101.37 101.36 -

14-Mar-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 34.12 36.20 34.04 36.20 386 35.67 36.20 44

14-Mar-2011 SILVER - SL500 MY11 US$ Per Troy Ounce 34.09 36.20 34.08 36.20 74 35.67 36.20 7

14-Mar-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1405.90 1428.50 1405.90 1428.20 1,399 1421.60 1428.20 1,026

14-Mar-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1406.80 1429.20 1406.50 1428.90 3,144 1422.30 1428.90 1,567

14-Mar-2011 GOLD 01oz JU11 US$ Per Troy Ounce 1407.00 1430.00 1407.00 1429.50 1,690 1423.00 1429.50 810

14-Mar-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1414.40 1428.20 1406.40 1428.20 22 1421.60 1428.20 5

14-Mar-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1414.40 1428.90 - 1428.90 - 1422.30 1428.90 -

14-Mar-2011 GOLD 100oz JU11 US$ Per Troy Ounce 1425.00 1428.90 1407.90 1428.90 3 1423.00 1429.50 1

14-Mar-2011 GOLD MA11 Per 10 grms 39050.00 39311.00 38647.00 39311.00 10 39058.00 39311.00 2

14-Mar-2011 GOLD AP11 Per 10 grms 38800.00 39325.00 38658.00 39322.00 4 39069.00 39322.00 91

14-Mar-2011 GOLD MY11 Per 10 grms 38673.00 39337.00 38673.00 39337.00 - 39084.00 39337.00 -

14-Mar-2011 KILOGOLD MA11 Per 10 grms 39044.00 39283.00 38619.00 39283.00 2 39030.00 39283.00 -

14-Mar-2011 KILOGOLD AP11 Per 10 grms 38631.00 39294.00 38631.00 39294.00 - 39042.00 39294.00 -

14-Mar-2011 TOLAGOLD50 MA11 Per Tola 45045.00 45819.00 45045.00 45819.00 - 45524.00 45819.00 -

14-Mar-2011 TOLAGOLD100 MA11 Per Tola 45045.00 45819.00 45045.00 45819.00 - 45524.00 45819.00 -

14-Mar-2011 MINIGOLD MON Per 10 grms 39687.00 40419.00 39687.00 40419.00 - 40162.00 40419.00 -

14-Mar-2011 MINIGOLD TUE Per 10 grms 39730.00 40360.00 39730.00 40360.00 - 40103.00 40360.00 -

14-Mar-2011 MINIGOLD WED Per 10 grms 39745.00 40375.00 39745.00 40375.00 - 40118.00 40375.00 -

14-Mar-2011 MINIGOLD THU Per 10 grms 39759.00 40389.00 39759.00 40389.00 - 40133.00 40389.00 -

14-Mar-2011 MINIGOLD FRI Per 10 grms 39774.00 40404.00 39774.00 40404.00 - 40147.00 40404.00 -

14-Mar-2011 TOLAGOLD MON Per Tola 45627.00 46479.00 45627.00 46479.00 - 46181.00 46479.00 -

14-Mar-2011 TOLAGOLD TUE Per Tola 45677.00 46412.00 45677.00 46412.00 - 46113.00 46412.00 -

14-Mar-2011 TOLAGOLD WED Per Tola 47050.00 47050.00 45694.00 46429.00 2 46130.00 46429.00 2

14-Mar-2011 TOLAGOLD THU Per Tola 46891.00 47000.00 45711.00 46445.00 12 46147.00 46445.00 11

14-Mar-2011 TOLAGOLD FRI Per Tola 46542.00 46900.00 45727.00 46462.00 8 46164.00 46462.00 10

14-Mar-2011 IRRI6W 17MA11 Per 100 kg 3357.00 3357.00 3314.00 3314.00 - 3357.00 3314.00 -

14-Mar-2011 RICEIRRI - 6 MA11 Per 100 kg 3355.00 3355.00 3311.00 3311.00 - 3355.00 3311.00 -

14-Mar-2011 RBD PALMOLEIN MA11 Per Maund 5208.00 5208.00 5172.00 5172.00 - 5208.00 5172.00 -

14-Mar-2011 KIBOR3M 11-Mar Per Rs. 100 86.38 86.39 86.38 86.39 - 86.38 86.39 -

14-Mar-2011 KIBOR3M 11-Jun Per Rs. 100 85.86 85.89 85.86 85.89 - 85.86 85.89 -

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

Tokyo rubber

plunges on

earthquakeSINGAPORE: Rubber contractson Tokyo Commodity Exchangeplunged on Monday after a devas-tating earthquake struck Japanlate last week, prompting theexchange to halt trading andwidened the trading band.

Fears that a sharp drop inphysical prices could trigger arepeat of defaults of cancella-tions in shipments also spurredselling on Tokyo futures, whichhave fallen more than 20 percent since striking a record at535.7 yen a kg in February.

The most active rubber con-tract, currently August 2011,settled at 384.1 yen a kg, down17.3 yen from Friday's settle-ment at 401.4 yen. It haddropped as much as 7 per cent.

Trading had been halted onMonday morning after circuitbreakers were hit and nearbycontracts slumped on worriesthe quake could the economyand also on rumours some buy-ers had defaulted on shipment.

China's benchmark rubberfutures traded on the ShanghaiFutures Exchange fell by its dailylimit on Monday, trackingTOCOM. In the physical market,natural rubber prices droppednearly 30 per cent after reachinga record in February. -Reuters

AHMEDABAD - INDIA: An Indian farm labourer carries paddy seedlings in a field near Dholka,

some 30kms from Ahmedabad. -Agencies

LONDON: Gold prices rosein Europe on Monday, recover-ing some of last week's one percent losses, as the impact of anearthquake in Japan added toupward pressure on the metal,driving it back towards recentrecord highs.

Gold was at $1,422.65 anounce at 1504 GMT versus$1,417.70 late on Friday, with-in sight of the record$1,444.40 it hit last week. Itfixed at $1,422.25 at 1500

GMT. US gold futures forApril delivery rose $1.30 to$1,423.10.

"Safe-haven buying clearlyseems to pushing bullion high-er, and (that) may be the caseuntil Japan and the worldquantify the financial lossesdue to this disaster," saidPradeep Unni, an analyst atRichcomm Global Services.

"Investment demand maysee a surge in the coming ses-sions which could take gold tofresh record highs," he added."The only doubt cast to thisview is that Japanese retailersmay sell gold to raise immedi-ate cash."

Premiums for gold bars inTokyo jumped to their highestsince February at $1 an ounceversus spot London prices,from zero last week, dealerssaid.

Unrest in the Middle Eastand North Africa continued to

spread, with Saudi Arabiasending troops into Bahrain onMonday to help put downweeks of protests by the Shi'iteMuslim majority.

As Libyan leader MuammarGaddafi's troops battled rebelfighters for control of thestrategic oil town of Brega,France stepped up efforts topersuade world powers toimpose a no-fly zone over thecountry.

Violence which has spread

from Egypt and Tunisia acrossthe Middle East this year was amajor factor driving gold torecord highs, and precipitateda spike in oil prices.

In Europe, analysts said theysaw little reaction in the goldprice from this weekend'sagreement among Europeanleaders to strengthen the euro-zone bailout fund, a movedesigned to address the bloc'syear-long debt crisis.

"From gold's perspective,Saturday's agreement repre-sents a positive surprise thatshould help the euro but mayin initial assessment presentless immediate need for addi-tional gold long exposure,"said UBS in a note.

Among other precious met-als, silver was bid at $35.82 anounce versus $35.83, platinumat $1,752 an ounce against$1,778.50 and palladium at$746.47 against $757. -Reuters

Gold up as temblorfuels risk aversion

Coffee,sugar falls;cocoa rises

LONDON: Coffee and sugarprices fell on Monday, weighedby broad-based losses in com-modity markets with investorsbecoming more risk averse in theaftermath of Japan's catastrophicearthquake.

Cocoa futures on ICE rose,bucking the lower trend in othercommodity markets, supportedby concern about conflict inIvory Coast although a rise insterling against the dollar putLiffe cocoa in negative territory.

"Everyone's blaming the earth-quake in Japan which has madeinvestors risk averse. A lot ofmarkets are down at the momentafter Japan, except cocoa whereIvory Coast is pushing upprices," a London-based brokersaid. May arabica coffee on ICEslipped 4.4 cents or 1.6 per centto $2.70 per lb by 1540 GMT.

Dealers said the marketremained underpinned by tightsupplies which helped to driveprices for the second month to a34-year high of $2.9665 per lb.

May robusta coffee on Liffefell $50 or 2.1 per cent to $2,371a tonne.

Cocoa prices were higher, sup-ported by continuing conflict intop producer Ivory Coast.

May cocoa on ICE rose $14 or0.4 per cent to $3,426 a tonnewhile May cocoa on Liffe eased7 pounds or 0.3 per cent to 2,219pounds a tonne.

Sugar prices were swept loweras other commodity marketsdeclined. Dealers said talk ofpossible demand destruction fol-lowing a climb in prices to thehighest level in three decades lastmonth also weighed on senti-ment. May raw sugar on ICEdipped 0.81 or 2.8 per cent to28.05 cents a lb while May whitesugar on Liffe slipped $7.30 to$712.70 per tonne. -Reuters

JAKARTA: Malaysian palm oilfutures fell to a 3-1/2-month lowon Monday, reversing earlygains, as investors sought safe-haven assets after last week'smassive earthquake and tsunamiin Japan, and easing unrest in theMiddle East weighed on crudeoil.

The benchmark May 2011crude palm oil contract on BursaMalaysia Derivatives dropped0.9 per cent to close at 3,335ringgit ($1,097) a tonne. Thecontract hit an intraday trough of3,281 ringgit, its lowest levelsince Nov. 29, after rising ashigh as 3,359 ringgit.

"There has been a lot of down-ward pressure on commodities,"said a palm oil analyst.

"There is the idea of demanddestruction from Japan.

Fundamentally it won't havetoo much of an impact on palmoil ... it is (more) a knee-jerkreaction on how you positionyour portfolio on the back ofwhat happened (in Japan)."

Palm oil prices slipped to a

two-week low on Friday andnotched its worst weekly loss inmore than two years after a dev-astating earthquake hit Japan.

Overall, traded volume stoodat 21,963 lots of 25 tonnes each,the highest since late Februaryand compared with 21,734 lotson Friday.

ICDX's May CPO futures con-tract was at 9,660 rupiah per kg,compared to 9,760 rupiah per kgwhen it opened. Market volumewas 1,501 lots of 10 tonnes each.

In comparative vegetable oilmarkets, the most-activeSeptember 2011 soyoil on theDalian Commodity Exchangetraded at a near three-week lowat 9,880 yuan versus an open at9,988 yuan.

"Most commodity prices havecome down," said another trader."Equities are also down sharply.The mood in the market is tosell, not buy, they are nervous,"he added. "A lot of people preferto liquidate. It will be volatilethis week, because the global sit-uation is not calm." -Reuters

Palm oil falls afterearthquake tragedy

Indian sugareases on lack

of demandMUMBAI: Continuing thedowntrend for the second straightweek, Indian sugar prices declineon Monday on lack of demandfrom cool drink makers, thoughlesser supply by mills limited thelosses, dealers said.

In Kolhapur, a key market intop producing Maharashtra state,the most traded S-variety wasdown by 5 rupees to 2,661 rupees($59.4) per 100 kg.

Sugar prices in Kolhapurdeclined by 30 rupees per 100 kgin the last seven days.

"Prices are likely to decline fur-ther as there will be less demandfrom households in third andfourth week of the month anddemand from carbonated bever-ages makers is yet to pick up,"said Mukesh Kuwadia, secretaryBombay Sugar MerchantsAssociation.

At 4.55 pm, sugar contract forApril delivery on India's NationalCommodity and DerivativesExchange (NCDEX) was tradingup by 0.21 per cent at 2,818rupees per 100 kg. -Reuters

Shanghai copper hits

3-wk lowShanghai copper fell to a

three-month low and Londoncopper was on course for itsseventh straight day of declineon Monday, as the unfoldingdisaster in Japan continued tounnerve investors.

Shanghai's most active cop-per futures contract dipped to athree-month low at 68,250yuan($10,381) a tonne, andclosed 60 yuan above the pre-vious close at 69,280 yuan.

Saudi troops enter Bahrain to protect govt buildings

Tuesday, March 15, 2011

Winners of 6th phase of Int'l Cycle Rally with SG Cycling Federation

Sabir wins6th phaseof cycle

rallyMULTAN: Renowned cyclistSabir Hussain from Wapda waswinner in the sixth phase(Bahawalpur to Multan) of theon-going Cycle Rally here onMonday.

A total of 46 cyclists includ-ing a cyclist from Afghanistanare participating in the competi-tion. Renowned cyclist Sabirfrom Wapda covered 90 kilo-metres within 2:36:34 (hour-minutes-seconds) and won thesixth phase.

Similarly, Waqas Mehboob(Punjab), Mohammad Ibrahim(Wapda) stood second and thirdrespectively as they covered thedistance within 2:36:44 and2:36:54.

The management of ShamaGhee Mills received the cyclerally and awarded prizes to win-ners of the sixth phase. -APP

Most Runs

Players Mat Runs HS Ave SR

Sehwag(India) 5 327 175 65.40 125.28

Tendulkar(India) 5 324 120 64.80 100.30

de Villiers(SA) 4 318 134 106.00 111.18

Most Wickets

Players Mat Wkts BBI Ave Econ

Shahid Afridi(Pak) 5 16 5/16 10.06 3.50

Sulieman (WI) 4 12 4/18 12.50 4.43

Zaheer (India) 5 12 3/20 16.41 4.31

RECORD BOARD

Porterfieldscolded forbreachingICC rules

DUBAI: Ireland's WilliamPorterfield has been officiallyreprimanded for breaching theICC Code of Conduct followinghis side's match against theWest Indies in the ICC CricketWorld Cup 2011 in Mohali onFriday.

According to a press releaseissued here on Monday,Porterfield pleaded guilty tocontravening Level 1 offence(Section 2.1.7) of the ICC Codeof Conduct for Players andTeam Officials which relates to"public criticism of, or inappro-priate comment in relation to,an incident occurring in aninternational match or any play-er, player support personnel ormatch official".

The incident took place afterhis side's 44-run defeat when hewas speaking publicly about anumpiring decision, specificallythe lbw of Ireland batsmanGary Wilson.

As Porterfield accepted thesanction without contest, therewas no need for a hearing.

Commenting on his decision,Roshan Mahanama of theEmirates Elite Panel of ICCMatch Referees, said:"Although it may not be unusu-al for a captain to feel aggrievedor frustrated by what he feels isa rough decision, it does notgive him any right to criticisethe umpire as William did.

"The umpire's decision isfinal and it is a long-standingpillar of our game that thematch officials should receiveabsolute respect for their deci-sions. In giving my verdict, Itook into account that this wasWilliam's first such offence,"said Mr Mahanama.-Reuters

10

KANDY: Abdul Razzaq (L) celebrates after he dismissed Zimbabwe batsman BrendanTaylor (R) during the Group A match in the World Cup Cricket tournament between

Pakistan and Zimbabwe at The Pallekele International Cricket Stadium.-Reuters

KANDY: Asad Shafiq enjoyed a memorableWorld Cup debut as he stroked an unbeaten 78on Monday to help Pakistan seal their place inthe quarter-finals with a seven-wicket win overZimbabwe in a rain-shortened match.

Chasing a Duckworth/Lewis target of 162 off38 overs, Shafiq's mature innings and a solidknock by Mohammad Hafeez (49) steeredPakistan to an easy win with 23 balls to spare.They finished on 164-3.

Pakistan was never under pressure to scorethe runs and they chased down the total by col-lecting ones and twos and hitting the oddboundary.

The result meant the 1992 champions joinedAustralia, New Zealand and Sri Lanka fromGroup A in the knock out stages of the compe-tition.

Earlier, pace duo Umar Gul and AbdulRazzaq rattled the Zimbabweans by reducingthem to 13-3 inside six overs and they struggledto recover from that setback before rain inter-vened to mercifully halt their innings.

They amassed 151-7 after 39.4 overs but thevictory target was adjusted according to theprojected score the Africans would havereached had they been able to bat out their fullquota of overs.

With the exception of Craig Ervine (52) andcaptain Elton Chigumbura (32 not out), theZimbabwean batsmen struggled to come toterms with the stop-start nature of the contestdue to three rain delays.

Following a delayed start, the cricketers firsthad to run for cover with Zimbabwe on 96 forfive after 27.2 overs.

With 90 minutes of action lost, the match wasfirst truncated to 43 overs a side before anotherdeluge forced yet another adjustment. Ervinehit five fours during his stay at the crease whileChigumbura's hopes of celebrating his 25thbirthday with a big score was scuppered by therain gods.

Gul was the pick of the Pakistani bowlerswith three for 36.

-Reuters

Pakistanblackball

Zimbabwe

CHITTAGONG: BangladeshOpener Imrul Kayes smashedan unbeaten 73 to helpBangladesh to a six-wicketwin over Netherlands onMonday, boosting the co-hosts' chances of reaching theWorld Cup quarter-finals.

Chasing a modest 161-runvictory target, Bangladesh lostTamim Iqbal in the first overbut Kayes chalked up his sec-ond successive half century tosee them home in the Group Bmatch in 41.2 overs.

Abdur Razzak (3-29) andhis spin colleagues had earlierlaid the foundation forBangladesh's victory by bowl-ing with tremendous disci-pline and the Dutch batsmendid not help their cause eitherwith four of them runningthemselves out. For them,Ryan ten Doeschate waged agrim battle but ran out of part-ners to remain not out on 53 as

his team folded for 160 in46.2 overs.

Bangladesh's win addedanother twist to an alreadywide open Group B. Theyleapfrogged England intofourth place with six points.

If Ireland are beaten bySouth Africa on Tuesday andEngland go down to WestIndies on Thursday, thenBangladesh will go throughto the last eight withoutneeding to win their finalmatch.

"It was a nervous gamebecause we had to win to stayin the contest," Shakib said."We'll be watching that(England v West Indies)match very closely but it's stillwithin our hands and if we dowell against South Africa (onSaturday) we'll qualify."

Kayes lost his opening part-ner Tamim before the hostshad even registered a run on

the board but the 24-year-old,one of seven left handed play-ers in the Bangladesh line-up,kept his focus to carry his batthrough the innings.

After Mudassar Bukharihad bowled Tamim in thefourth ball of the innings,Kayes added 92 runs for thesecond wicket with JunaidSiddique (35) to recordBangladesh's highest everWorld Cup partnership forany wicket.

Kayes then added 59 for thethird wicket with ShahriarNafees (37) before MushfiqurRahim (11 not out) clobbereda four and a six off successivedeliveries to carry Bangladeshover the finishing line.

Earlier, Dutch batsmenstruggled to score againstBangladesh's miserly spinattack on the slow track at theZahur Ahmed ChowdhuryStadium. -Reuters

BD eyes last eight spot

KOLKATA: South Africa'sleading batsman AB de Villiershas undergone a scan on hisleft thigh after picking up aninjury during their World Cupwin over India, a teamspokesperson said.

The right-handed player hasbeen the most successful bats-man for his country in theshowpiece event and is current-ly placed third with 318 runs inthe list of highest scorers. Hehas notched up two hundredsand a half-century from fourmatches.

"He got a scan done on histhigh. I can't update the detailstill he gets the scan report," theSouth African team spokesper-son said.

De Villiers needed a runnerduring his 52-run knockagainst India on Saturday dur-ing South Africa's thrillingthree-wicket win against theco-hosts.

South Africa coach Corrie

van Zyl hoped that the injurywas not "major."

"I don't think it's major interms of that he will be out ofthe tournament. But as I said, Iam not a doctor and I will waitfor the doctor's report," thecoach told reporters.

The 27-year-old has been insensational form, hitting back-to-back centuries against WestIndies and the Netherlands, butadditional wicketkeepingworkload has been taking a tollon his back.

The Africans are also unlike-ly to risk injured leg spinnerImran Tahir in their next GroupB match against Ireland onTuesday at the Eden Gardens.

Pakistan-born Tahir wasadvised to rest for 10 days afterhe suffered a fracture in his leftthumb, his non-bowling hand,during the game againstEngland while catching the ballto dismiss Jonathan Trott.-Reuters

Hurt De Villiers’gets a thigh-scan

Nothing tolose, says

Irish captainKOLKATA: Irish captainWilliam Porterfield saidMonday his team would playwith their usual attacking flairwhen they clash with power-ful South Africa at EdenGardens on Tuesday.

Ireland pulled off thebiggest upset of the WorldCup when they beat Englandby three wickets but have lostto India, the West Indies andBangladesh despite putting inbattling performances.

"We don't have anything tolose. There won't be manypeople giving us much of achance in tomorrow's game,"Porterfield said.

"South Africa are obviouslyone of the pre-tournamentfavourites and they have justbeaten India.

"We've just got to go outthere and play with freedomand attack in the same waythat we have attacked in everyother game. If we go out anddo that I'll be happy."

The non-Test-playingnation, with just two pointsfrom four games, have norealistic chance of reachingthe quarter-finals whereas awin for South Africa wouldguarantee the Proteas a last-eight berth.

"We've played a couple ofbig teams now and teams thathave been in form. SouthAfrica are no different. Theyare building up some goodmomentum now. It was agood victory for them (againstIndia)," said Porterfield.

"So they'll be in pretty highspirits and pretty confident.They're a top-class side. It'sjust another challenge for us."Ireland have not decidedwhether to include pacemanTrent Johnston (knee injury)and all-rounder Andre Botha(stomach bug) for Tuesday'smatch. -APP

COLOMBO March 14(Online): Former Pakistancaptain Salman Butt will flyto London on Tuesday for afirst court appearance wherehe and fellow banned playersMohammad Asif andMohammad Aamer face cor-ruption charges. Butt, Asifand Aamer were all chargedfollowing allegations of cor-ruption during the fourth Testagainst England at Lord's lastAugust.

An International cricketCouncil (ICC) anti-corruptiontribunal has already bannedButt for 10 years, Asif forseven and Aamer for five.

British prosecutors last

month announced the threeplayers and their agent,Mazhar Majeed, were beingcharged with conspiracy toobtain and accept corruptpayments, and also conspira-cy to defraud bookmakers.All three will make their firstcourt appearance at London'sCity of WestminsterMagistrates Court onThursday.

"We have to register our-selves in the court. Accordingto my information there willbe no hearing as such initial-ly," Butt told. Asif is alreadyin England while Aamer willalso fly to the UK in the nextcouple of days.-Reuters

Butt heads for courtwith WC on mind

India can't winWC, Dhoni’s

dreaming:Jones

MELBOURNE: Given theirweak bowling and unimpres-sive fielding even the highquality batsmen cannot saveIndia's World Cup campaign,feels former Australian bats-man Dean Jones who says win-ning the coveted trophy willremain just a dream forMahendra Singh Dhoni's men.

"The three main commondenominators consistent withall World Cup champion teamsare: Your top four batsmenmust be of a high quality.

They must have the techniqueto play the new ball, as well ashave the power and stroke playduring powerplays.-Reuters

NIT InterRover

CricketTrophyShabbir Kazmi

KARACHI: NIT Inter RoverCricket Tournament concludedwith Sultanabad Bulls outstand-ing victory in the final round.

The final of NIT Inter RoverCricket was played at the AgaKhan School Cricket Ground.

Darkhana Royals, after win-ning the toss, decided to batfirst and scored 53/5 in theirdesignated overs.

Sultanabad Bulls leveled thescore just in 4 overs and walkedvictorious in this youth cricketevent, which was in progresssince February 27, 2011. TheChief Guests of the final eventwere Former Test Cricketer andCricket Legend Wasim Bari andthe Senior member of the Boardof Governance of PCB, . WazirAli Khoja, who is also theChairman & Managing Directorof National Investment TrustLimited. A large crowd of crick-et enthusiast and prominentcricket players includingKainat of Pakistan WomenCricket were also present towitness the event.

WC quarter-final berth booked

11Tuesday, March 15, 2011

International & Continuation

CONTINUATIONbeen protesting for the last three weeks.Similarly, the PML-Q has decided to unveil the alleged incom-

petence on part of the Chief Minister. -Online

Continued from page 12No #1

Senate Jan Muhammad Jamali, Marvi Memon, PML-Q legisla-tor, Fakharuddin G Ibrahim senior lawyer of the Supreme Court,Muhammad Raheem Baloch of United Human RightsDevelopment Organization, Balochistan, Dr Asad Ali Leghari,District Dadu, Sindh and Zahida Thebo, Advocate, District Dadu,Sindh. -APP

Continued from page 12No #2

Navy or Coast Guard, there should be coordination betweenthem." "There has to be coordination and information sharingbetween the security agencies for securing the nation," the ChiefMinister said.

Modi also said that he wanted Naval wing of NCC (NationalCadet Corp) in all schools in the coastal areas of the state.

"In the coming days we want to emphasise on Navy. We havefloated a scheme for coastal regions known as Sagar Khedu. Oneof the objectives of this scheme is to have a Naval unit of NCCfunctional in every school in the coastal area of the state," he said.

Explaining the rationale behind having Naval unit of NCC inschools of coastal areas, Modi said, "The children of fishermenspent their life in the sea so they have a natural ability for dealingwith coast situation. And I want this inbuilt strength to be utilisedfor national security."

If these students from the coast regions are recruited in theNavy, it will help a lot and also, their training, discipline in theNavy will help them secure the coast even after retirement, headded.

CM also expressed his desire that all the engineers and engi-neering students of the State see the Army weapon and equipmentexhibition and understand the technology.

He said that engineering students should try and develop indige-nous techniques to develop such weapons in India itself anddecrease country's dependence on other nations for weapons.

Modi also flagged off a 1300-km rally to promote and encour-age youth in the state to join armed forces.

The first leg of the rally from Ahmedabad to Porbander viaRajkot would be on motorcycles. From there it would move alongthe coast in a Coast Guard boat to Koteshwar in Kutch, where theparticipants would ride camels in the Kutch desert, before return-ing to Gandhinagar by March 21. -Online

Continued from page 12No #3

2002 to 2005 said that UK had completely rejected the torturingpolicy.

He further said that they were never connivance on torturingpolicy and whole world including Pakistan was knew about UKpolicy in this regard.

However former President of Pakistan said that he never knewthat UK ever said that ISI should not torture British citizens.

Meanwhile, talking to private TV channel former PresidentPervez Musharraf said that he thinks NRO is wrong and he issuedthe Ordinance on the say of Chaudhry brothers and now he realis-es his mistake.

He further said that Pakistan is confronted with internal andexternal challenges. He said that joint efforts would have to bemade to tackle terrorism and extremism. He said that interest ofPakistan would have to be safeguarded.

Answering to question he replied that he had form a party andis being activated. He said that he would come back to Pakistan

Continued from page 12No #4

very soon. He said that Altaf Hussain is a good leader, and ImranKhan is a good friend.

Answering another question Musharraf said that Indian PrimeMinister Manmohan Singh is a good person and wanted to resolveall issues including Kashmir dispute. -Online

BRUSSELS: Euro zonefinance ministers met onMonday to work out the detailsof a deal hammered out bytheir leaders to bolster theirbailout fund and ease the termson aid to Greece amid a posi-tive reaction from financialmarkets.

The ministers are puttingthe finishing touches to a com-prehensive package of meas-ures outlined early onSaturday, aimed at ending theyear-old sovereign debt crisisand preventing any new prob-lems.

The measures that euro zoneleaders agreed on still need for-mal approval at the next EUsummit on March 24-25, butthey seem to address most ofthe markets' concerns.

"We are on a good path toachieving everything by theEU summit at the end of

March... making the necessarydecisions in a way that every-thing is in place so that the con-fidence of the financial mar-kets in the stability and sustain-ability of the euro is indeedfurther cemented," GermanFinance Minister WolfgangSchaeuble told reporters onentering the meeting.

Market reaction to the dealwas positive on Monday.Greek/German 10-year yieldspreads were 54 basis pointsnarrower on the day at 915 bps.The yield on the benchmarkPortuguese 10-year bond fell to7.60 percent at 1243 GMTfrom 7.87 percent on Friday.

"In our view (the leaders')agreement, relative to thedampened expectations of thelast few weeks, provides goodmomentum for a solution toEMU's structural issues," saidGilles Moec, economist at

Deutsche Bank. "However, a lot still needs to

be fleshed out within the nexttwo weeks, and the absence ofa deal on Ireland is a disap-pointment," he said.

While euro zone leaders cutthe interest rate on their bilater-al loans to Greece by 100 basispoints and more than doubledtheir maturity to 7.5 years,Ireland did not get a cut in bor-rowing costs because it did notwant to discuss harmonisingthe corporate tax base.

WAYS AND MEANS The leaders agreed in their

midnight talks on Friday thatthe effective lending capacityof the euro zone rescue fund,the European FinancialStability Facility (EFSF),should be raised from the cur-rent 250 billion euros to thenominal value of 440 billioneuros. -Reuters

EU ministers detailrescue fund revamp

BEIJING: China faces a toughbalance between creating jobsand cooling inflation, ChinesePremier Wen Jiabao said onMonday, denying that his gov-ernment risks the kind of polit-ical upheaval besetting parts ofthe Middle East.

Wen nonetheless warned thatreform of the Communist Partygovernment had to match eco-nomic growth to avoid discon-tent over corruption andincome inequality festeringinto instability.

He said the first half of 2011would be a tricky time forsteering the world's second-biggest economy, with loosemonetary policies in foreigncountries, high global com-modity costs and rising wagesin China all putting upwardpressure on prices.

"Inflation is like a tiger. Onceyou let it out, it's very hard tocage again," he told a newsconference at the end of theannual parliament session,

which approved China's nextfive-year development plan.

Reiterating that controllinginflation was Beijing's top pri-ority, Wen said the governmentwould succeed in its work.

"I only want to say that weare confident that we can man-age inflationary expectationsproperly," he said. "We can'trest easy about prices."

Wen blamed factors beyondthe country's borders as amajor cause of Chinese infla-tion. Oil costs were soaringafter the tumult across theMiddle East, and rich countriespursuing loose monetary poli-cies were also culprits, Wensaid, in a thinly veiled swipe atthe United States.

"Imported inflation is havinga big impact on China, andthat's something we cannoteasily control," he said.

It was the third time in slight-ly more than two weeks thatWen emphasised the govern-ment's commitment to reining

in inflation, which China'sleaders fear could fan discon-tent and erode the standing ofthe ruling Communist Party.

Chinese inflation toppedexpectations at 4.9 percent inthe year to February, near itsfastest level in more than twoyears, and looks set to climb incoming months.

POLITICAL REFORMOfficial corruption and

income inequality have alsostirred public discontent withthe Communist Party, and Wenmade the case for carefullycontrolled political adjust-ments under the grip of theParty.

"Without political systemreform, economic reform willnot succeed and the achieve-ments we have made in eco-nomic reform may be lost,"said Wen, who has nurtured animage of being more sympa-thetic than other Chinese lead-ers to calls for political relax-ation.-Reuters

China's Wen says hardto curb inflation in 1H

Canada Q4industrial

capacity usedisappoints

OTTAWA: Canada's fourth-quarter industrial capacity usecame in at an unexpectedly low76.4 percent on Monday,adding to a series of soft datathat has taken pressure off theBank of Canada to raise interestrates.

Another indicator closelywatched by the central bank,the ratio of household creditmarket debt to personal dispos-able income, fell to 146.75 per-cent from a downwardlyrevised 146.87 percent, asincome gains outstripped debtgrowth.

The industrial capacity userate marked the sixth straightquarterly rise, but the rate ofincrease is falling and the sta-tistic remained well below thehistorical range of 80 to 90 per-cent that was seen in the twodecades before 2008.

The market had expected therate to hit 79.0 percent butStatistics Canada revised theseries downward. The third quar-ter was revised down to 76.2 per-cent from 78.1 percent initially.

The figure is one measure ofwhether inflationary pressuresare building, and the market isincreasingly skeptical that theBank of Canada will soonresume its interest rate hikes.

The yields on overnight indexswaps, which trade based onexpectations of moves in thebank's policy rate, show themarket pricing in a 99 percentprobability that the bank willkeep its key rate at 1 percent onApril 12. The market has notfully priced in a rate hike beforethe bank's Sept. 7 decision date.

Traders had already scaledback the odds of a near-termrate hike on Friday after areport showed Canada's econo-my delivered lackluster jobgrowth in February.

Canada's currency hit a ses-sion low against the U.S. dollarimmediately after Monday'sdata. The Canadian dollarrecovered slightly to C$0.9743to the U.S. dollar, or $1.0264,by mid-morning.-Reuters

"Ministry of Information in collaboration with Ministry ofFinance would share detailed information about increase in con-sumer price of commodities with media soon," the minister said.To a question, the minister said that PPP leadership always fol-lowed politics of reconciliation.

Replying to a question, the information minister said in linewith policy of politics of reconciliation the PML-N leader MianNawaz Sharif was given due protocol by Pakistan HighCommission in London and later President Asif Ali Zardari tele-phoned him to inquire about the health of his wife.

She said the PPP believes that political confrontation should beavoided in greater national interest. She said all political partiesshould respect each other's mandate.

Dr Firdaus Ashiq Awan further said President Zardari wouldaddress the joint session of the parliament on 22nd of this month.She expressed the hope that the opposition would uphold demo-cratic traditions and decency on the occasion.

To another question, Firdaus said the PPP does not believe inconfrontation with institutions. She said after the judgment isgiven by the court it becomes a public property and SindhAssembly or people of the province were well within their right toexpress their reaction as per right of expression and speech.

She said the prime minister asked cabinet members to take partin television live shows so that issues confronting people are thor-oughly debated and steps taken to resolve them.

The Secretary Finance gave a detailed presentation to the cabi-net about price situation especially with respect to basic com-modities, which would also be shared with the media.

About Muttahida Qaumi Movement (MQM), she said it was anally of the PPP and the government was trying to take all politicalforces along, and MQM cannot be ignored.

They are not quitting Sindh government and at Federal levelthey have some reservations, which would be removed soon andthe nation would hear good news in this regard.

Earlier, Prime Minister Syed Yousuf Raza Gilani took theFederal Cabinet into confidence on overall political situation inthe country and his Sunday's announcement regarding Saraikiprovince.

Prime Minister told the meeting that the Pakistan Peoples Partywould not become part of any adventurism in Punjab and wouldinstead play role of a constructive opposition to promote andstrengthen democratic process.

Prime Minister Gilani said Pakistan would provide every possi-ble assistance and cooperation to Japan to mitigate sufferings ofJapanese people affected by earthquake and Tsunami.

Continued from page 1No #5

Iftikhar Muhammad Chaudhry and Justice Ghulam Rabbani,which resumed hearing of a suo moto case related to Rs256 bil-lion bank loans waived from 1971 to 2009, was apprised that theSBP mulled constitution of a Commission to be headed by SaleemAkhtar, retired judge of the apex court, and Rashid A Chughtaiand Yousuf Adil as its members, which would submit its interimreport within 90 days after becoming functional.

According to the recommendations, the Court was prayed toconfer powers on the Commission and functions under thePakistan Commission of Inquiries Act 1956.

The report submitted by the SBP counsel said that the

Continued from page 1No #6

meeting, Governor Sindh disscused about working relationship between MQM and PPP. -Agencies

Continued from page 1No #7

record volumes and slashed the market's value to roughly 289 trillion yen.Volume was pushed up by window-dressing selling by domestic institutional investors for the

March 31 financial year-end and by domestic investment trusts and anxious retail buyers, whilelong-term foreign players who have piled into Japanese shares since November also rushed for theexit, market players said. "It's the end of the business year for Japanese institutions.

They've been net sellers of Tokyo stocks anyway, and in March they traditionally lock in profitsfor the year, so much of today's selling pressure likely came from them," said Mitsuhsige Akino, afund manager at Ichiyoshi Investment Management.

"On the other hand, foreigners had bought over 2.75 trillion yen worth of Japan stocks sinceNovember, pushing the Nikkei several percent higher, so no wonder they tried to trim their losses orlock in as much profit as possible today, and that bolstered trading volume" said Akino.

Individual investors, who often trade in smaller stocks on the TSE's Mothers section for startups,likely sold even more aggressively then the big players on the Nikkei, traders said.

Escalating concerns about the financial and economic fallout of the disaster triggered a plunge thathit all sectors of the stock market. The broader Topix index lost 7.5 per cent.

The Bank of Japan moved quickly to try to keep financial markets calm. By flooding the bankingsystem with cash, it hopes banks will continue lending money and meet the likely surge in demandfor post-earthquake funds. Credit Suisse economist Hiromichi Shirakawa estimated the damage atup to 15 trillion yen ($183 billion) and other analysts warned the economy will shrink for twostraight quarters. Meanwhile, Japan scrambled to avert a meltdown at a stricken nuclear plant onMonday after a hydrogen explosion at one reactor and exposure of fuel rods at another, just daysafter a devastating earthquake and tsunami that killed at least 10,000 people.

Roads and rail, power and ports have been crippled across much of Japan's northeast and estimatesof the cost of the multiple disasters have leapt to as much as $170 billion. Analysts said the econo-my could even tip back into recession. Officials say at least 14,000 people were likely killed in the8.9-magnitude earthquake and tsunami that followed it. "It's a scene from hell, absolutely nightmar-ish," said Patrick Fuller of the International Red Cross Federation from the town of Otsuchi.

Jiji news agency said fuel rods at the No 2 reactor had been entirely exposed and a fuel rod melt-down could not be ruled out. The plant operator confirmed there was little water left in the reactor.The explosion happened at the No 3 reactor, two days after a blast at the No 1 reactor. -Agencies

Continued from page 1No #8

provincial government officials. Briefing the journalists, spokesperson to President FarhatullahBabar said that the President also directed to call another meeting within a month on these issues inwhich the relevant ministries will give a briefing on the progress made in the implementation of thedirectives. "The province is faced with education crisis", the President remarked adding' "this situ-ation must not be allowed to continue and needs to be changed through structural improvements".

The President tasked the provincial Education Minister to prepare a comprehensive and workableplan and propose steps to meet the education emergency in the province.

The President said that a thought should be given to enter into management partnership with theprivate sector for efficient running of the schools. He also called for adoption of innovative ways togenerate funds and improve oversight of the educational institutions.

The President said that the DFID had allocated 80 million pounds to the development of educa-tion in the province over the next five years through Sindh Education Fund that will be set up as anonprofit company under the Companies Ordinance. However, assistance from the Fund will begiven to only those educational institutions which fulfill the basic minimum criteria developed forthe purpose. In the meeting on power and gas situation the President directed the provincial govern-ment to develop its own separate power policy to meet its growing energy demands.

He said that under the Power policy of 2002 provinces can develop power projects under 50-MWon their own. The President also called for augmenting gas supply from gas fields.

The meeting also reviewed progress on an earlier directive for reactivation of abandoned gas fieldsin the province to improve the gas supply situation in the country. The President also called for set-ting up of captive power plants for selected industrial zones, the spokesperson said.

Continued from page 1No #9

also briefed on the sustained and aggressive efforts to maintain fiscal discipline and secure over-all economic stability. Measures for expenditure control and revenue mobilisation were also dis-cussed in the meeting. During the meeting premiere and finance minister discussed the modusoperandi to be adopted regarding the suggestion given by IMF in the recent negotiations.

It is relevant to mention here that International Monetary Fund in its recent talks with Pakistaniteam urged the government to bring the budget deficit down at 5.3 per cent of the budget for the run-ning fiscal year. During the deliberation with the global lender PPP government also agreed to con-tain the inflation at 15 per cent, beside imposing Reformed General Sales Tax from the next fiscal(FY12). Government initial target for growth and inflation for 2010-11 was 4.5 per cent and 9.5 percent, but that had to be revised following the devastation caused by the floods.

Shaikh, however, said on March 5 that the country would aim to keep the budget deficit at 5 per-cent of GDP. The IMF and other donors have asked Pakistan to raise its tax-to-GDP ratio, onlyabout 10 percent and one of the world's lowest, by implementing fiscal reforms including a reformedgeneral sales tax. "RGST is not off the table but is being worked on, we hope it gets implemented,"said a source. -Agencies

Continued from page 1No #10

business visa and the same was issued at the request of the US government.He said that real name of dual murder US citizen was Raymond Allen Davis while his record of

diplomatic immunity was not available in the ministry. He told the court that the ministry did notchange the record. LHC Chief Justice Ijaz Muhammad Chaudhry dismissed the petition after argu-ments from both sides and ordered that trial court would decide immunity of Davis.

"The case is in a trial court, it will decide on his immunity," Ijaz Chaudhry said.Talking to media persons after the LHC decision, lawyer of victim families said that the govern-

ment could send back the Davis to US anytime after the court decision. He said that with the courtorder, name of the killer was removed from exit control list (ECL), adding while another petitionwould be submitted in the court for putting again his name in the ECL. -Agencies

Continued from page 1No #11

accepted petition that new chairman be appointed in line with law and constitution and this job bedone in keeping with procedure described by the court. The petitioner contended the reappointmentof removed chairman could give rise to gross constitutional and legal complications.

Shahid Orakzai also requested the court to direct the federation to pay expenses incurred by himin connection with his constitutional petition accepted by the court. -Online

Continued from page 1No #12

army should not come if the apex court calls it. Commenting on the hot burning issue ofpresidential letter seeking opinion on the appointment of former Justice Deedar Hussain Shahas Chairman National Accountability Bureau (NAB), he informed that he had received the let-ter on Monday morning. Nisar further said that he had not gone through the letter, adding thathis secretary would response the letter. He was of view that the future of incumbent govern-ment depends on the decision of MQM. PML-N would welcome MQM if it joins opposition,he added. -Agencies

Continued from page 1No #13

House to Karachi Press Club and alleged that the management had not allowed 4,500 restoredemployees to work.

Akhlaq Ahmed, the union chairman, while addressing the participants alleged that the KESC man-agement had not accepted the government's orders regarding the restoration of employees.

He demanded President Asif Ali Zardari to end privatisation of KESC and secure future of thou-sands of workers.

Continued from page 1No #14

Commission would examine and confirm validity of about 1300 written off loan cases from 1997exceeding Rs10 billion by 10 banks. It would also determine whether the loans were waived off oncommercial reasons or political grounds. The Commission could direct the concerned bank to initi-ate appropriate proceedings in courts for recovery of written off loans under the Financial Institution(Recovery of Finances) Ordinance 2001 or the NAB ordinance.

In cases where the Circular was misused, the Commission would direct the SBP or banks con-cerned to recall such finance within not more than three years.

The Supreme Court was also requested to direct the government of Pakistan to introduce a billbefore the Parliament seeking an amendment to Section 10 of the Financial Institutions Ordinance2001, to introduce a bill seeking suitable amendments in the offices in respect of Banks (SpecialCourts) Ordinance 1984 so as to make willful default a penal offence.

Additional Advocate General for Pakistan KK Agha appeared and suggested that in the absence ofeffective legislation to punish those bank officials responsible for waiving off loans, the terms of ref-erence would not bear fruits.

He emphasized effective measures for recovery of loans in future besides, highlighting role ofvalue of property given by the borrower and the role of the evaluator.

Mansoor-ul Arifeen, counsel for four banks including HBL, NBP, Standard Charters and NIB,apprised the court that Circular 29 under which loans were waived off, had been issued faithfully butit was misused. During the hearing, the State Bank of Pakistan proposed the formation of a commit-tee to look into the written off loans.

The counsel of a private bank said that the State Bank Governor was consulting various banks toformalise the suggestion. He also said that initially 1300 loans worth Rs100 million and above willbe examined by the committee. The government's counsel suggested criminal action against officialswho had granted loans without adequate security and had later written them off.

The chief justice agreed that Justice Retired Saleem Akhtar should head the committee.Furthermore, Supreme Court accepted a petition to hear the case for equal distribution of natural

gas to the provinces, and issued a notice to the attorney general in this regard. The case was peti-tioned by industrialists from Khyber-Pakhtunkhwa and Punjab who wanted the matter to be decid-ed by the judiciary. A bench headed by Justice Tassadduq Jilani recommended a plea to Chief Justiceof Pakistan (CJP) Iftikhar Muhammad Chaudhry, for the formation of larger bench to hear the case.

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KARACHI: Employees of KESC hold a sit-in demonstration in support of their demands outside Karachi Press Club here on Monday. -Online

LONDON: Former presidentPervez Musharraf revealingthe dual policy of Britain overtorture of arrested al Qaedasuspects has said that UK gov-ernment never stopped himfrom torturing the al Qaeda'sarrested suspects.

"I was never told that itsBritish policy that its citizensshould not be tortured thus itwas a silent approval to whatwe were doing," PervezMusharraf said while givinginterview to BBC program'Secret War on terror'.

The former president's state-ment makes dubious the publicstance of UK. The questionsare rising as to what extent MI-5 knew about torturing the peo-ple in war against Al Qaedawhile former Director GeneralMI-5 Elizabeth Mangham hasdenied any connivance in thisregard.

Pervez Musharraf said thatwe are dealing with terroristsand in order to get some infor-mation out from them thus wehave to give intelligence agen-cies some leverage for torture.

Ethiopian BinyaminMuhammad was arrested in2002 on charge of planning forterror attack in Pakistan later,was kept in Guantanamo Bayjail.

Binyamin, who had lived inUK for 8 years, had claimedthat he was hanged by tying hishands to a board and whipped.He said that UK security serv-ices were aware about the tor-turing. Binyamin further toldthat had confessed to crimes,which he even didn't do, toescape torture.

Sir David Mand who hadbeen coordinator of UKSecurity and Intelligence from

See # 4 Page 11

UK mutely backedtorture: Musharraf

UK says never allowed torture on suspects

PESHAWAR: Around 3 mil-lion people linked to the Pak-Afghan transit trade might faceunemployment as Afghanexporters turned to Iran aftersetting up of new export agree-ment between Pakistan-Afghanistan.

Afghan Transit Trade busi-nessmen i.e., AfghanCommercial Exporters turnedto Iran after a new deal ofexport established betweengovernments of Pakistan andAfghanistan which mightresult in the unemployment of3 million individuals.

Trading size diminished afterthe new transit trade.

On the other hand, SupremeCourt of Pakistan took noticeof the eleven thousand missing

containers previously, customofficials stood responsible forthat act by Supreme Court.After that incident, customauthorities increased the diffi-culties for the commercialexporters.

Commercial exporters statedthat Afghan transit trade bringsrevenue of Rs12-14 billion toPakistan Railways, and thou-sands of transporters are alsolinked with that business in thesimilar fashion.

Traders and Custom Clearingagents said that Pakistan hasrenewed the export agreementafter the international pres-sures. The negative impactshave started to come up whichwould hit country's economy. -Agencies

Afghan exporterschoose Iran routeBlame Pakistan Customs for hurdles

AHMEDABAD: ChiefMinister Indian Gujarat,Narendra Modi Monday saidsecurity forces need to be alertand exercise more vigil as thecoastal state shares boundarieswith 'hostile' Pakistan.

He was speaking at the inau-guration of the three-day'Know Your Army Exhibition',where weapons and equip-ments used by the Army werekept on display for the general

public, reported PTI."Gujarat is a border state. It

is sharing border, both land andsea, with Pakistan. And at atime like this, when the neigh-boring country has becomehostile, there is much moreneed for the security forces tobe alert," Modi said.

Modi further said that be itjawans of Border SecurityForce (BSF), Army, Air force,

See # 3 Page 11

Modi vomitsvenom on Pak

Says Forces need to be alert toward Pak hostility

Staff Reporter

KARACHI: Privilege motionhas been tabled in SindhAssembly (SA) against opposi-tion leader in NationalAssembly (NA) ChaudhryNisar Ali Khan.

PPP member of SA, ImranLeghari moved the privilegemotion against Chaudhry NisarAli Khan Monday.

Lambasting the statementgiven by Chaudhry Nisar AliKhan, Imran Leghari said sucha statement was not expectedfrom a national leader.

"Sindhi cap is our pride. PPPlegislators have been electedby the people while PML-N

believes in 'Changa Manga'brand politics", he held.

Later SA speaker NisarKhuhro sent the motion tocommittee for deliberation.

A resolution expressing soli-darity with the people of Japanon the huge casualties causedby Tsunami there was alsotabled and was unanimouslyadopted.

On the other hand MQM wasstill continuing SA sessionboycott and no one from MQMmembers of assembly attendedthe session.

At the inception of the ses-sion Fateha was offered for thevictims of recent target killingsin Karachi.

Motion moved inSindh versus Nisar

NBPto launch

core bankingsystem soon

ISLAMABAD: National Bankof Pakistan (NBP) is all set tolaunch Core Banking System(CBS) to overcome the techni-cal problems in transactions,particularly making the Auto-Teller Machines (ATMs) error-free to the customers.

The CBS would facilitate thecustomers to access their fundsand other simple transactionsfrom any of the member branchoffices, official sources toldAPP here Monday.

The bank customers from allacross the country have beencomplaining of regular faults ofthe ATM machines, causingproblems and difficulties forthem while drawing amounts.

The new system would helpovercome such problems, anofficial in the main branch ofNBP here said adding that thebank had already succeeded intaking the measures and hasreduced such complaints to aconsiderable level.

"With the new system, thecustomers will also be able totransfer their money onlinethrough ATMs to any otherbranch of the NBP", he added. -APP

Commissioncommencesflood probe

ISLAMABAD: A four-mem-ber Flood Commission, man-dated by the Supreme Court toprobe the issue of breachesallegedly made to divert"Super" floods which devastat-ed large parts of country lastyear, has started visiting theaffected areas.

The Flood Commission, hav-ing Azam Khan from Khyber-Pakhtunkhwa, Fateh KhanKhajjak (Balochistan), AWKazi (Sindh), Khwaja ZaheerAhmad (Punjab) as its mem-bers, on Monday visitedKashmore, where Tori Bund issituated.

It will visit Balochistan'saffected areas includingJafarabad on March 15 andThatta, where MS Bund is situ-ated and Sujawal area onMarch 16.

On March 17, it will visit theflood affected areas of Punjab,including Taunsa,Muzzaffargrah, Kot Addu andJinnah Bridge in Mianwali.

The Apex Court in its recentproceedings extended time-frame of the Commission to sixweeks enabling it to furnish areport over the issue.

The Commission was formedby a three-judge bench headedby Chief Justice IftikharMuhammad Chaudhry afterconducting proceedings on asuo moto notice taken onappeals of Deputy Chairman

See # 2 Page 11

Bomberkills 33Afghanrecruits

KABUL: A suicide bomberposing as an army volunteerstruck an Afghan ArmyRecruitment Center in thenorthern Kunduz province onMonday, killing at least 33people.

The attacker approached onfoot and detonated his explo-sives vest among a group ofarmy volunteers lined up out-side the center, KunduzDeputy Governor HamdullahDanishi said.

Ambulances and private carsbrought at least 42 wounded tothe Kunduz Hospital, saidprovincial governmentspokesman MuhbobullahSayedi.

"We have 33 bodies, includ-ing soldiers and civilians,"said Humayun Khamush, adoctor at the hospital. Fourchildren were also killed, hesaid.

The bomber pretended to bean army volunteer, lining upwith other recruits outside thecenter before detonating hisexplosives as he approachedrecruitment officers, said LalMohammad Ahmadzai, aregional Afghan policespokesman.

There was no immediateclaim of responsibility for theattack. -Reuters

LAHORE: Pakistan MuslimLeague (Q) Monday decided tobecome sleeping partner of thePPP-government in Centre andvowed to even vote for premierGilani as and when required.

"PML-Q President ChaudhryShujat Hussain and the party'sadvisory council held a brain-storming session here andresolved to go to any extent inprotecting the democratic sys-tem," sources privy to themeeting told Online.

"Neither we are hungry forministries nor would we acceptany, but we have decided toward off the political govern-ment from conspirators andturncoats designing to derailthe democratic system",sources added giving out thecrux of the meeting.

To a question, the sourcesconfirmed that PML-Q wouldnot hesitate in voting for thepassage of the PPP-led govern-ment's next budget in June.

"Not only that we would

standby for voting in favorbudgetary proposals in theinterest of public, we wouldvehemently oppose any effortsto fail its passage," the sourcesobserved.

PML-Q has also vowed tocome up with budget proposalaimed at uplifting standard ofliving of down-trodden classesof the society.

Even before the budgetevent, PML-Q would welcomeand support President Asif AliZardari's address to joint sit-ting of the Parliament onMarch 21, the sources said in acommittal tone.

"We are duty bound touphold democratic as well asparliamentary traditions andspirits," the sources said.

"We should not be misread asbecoming part of the rulingcoalition, but we are only inter-ested in ensuring the continuityof the democratic process inthe country," the sourcesexplained objectives of the

decisions taken.Asked another question, the

sources categorically turneddown the impression thatPML-Q was interested in form-ing government in Punjab byjoining hands with the PPP andthus challenging its arch rivalPML-N rule in the largestprovince of the country.

"We do not want any politi-cal government to fall ahead oftime be that of PML-N inPunjab or the PPP-led in thecentre," the sources said,adding "But we would also nottolerate people on the 'Throneof Lahore' tarnishing demo-cratic practices and traditionsby promoting and encouragingturncoats."

Drawing attention towardsthe ongoing crisis in the healthsector in Punjab, the sourcessaid, the PML-N governmentin the province has simplyfailed to attend the issues ofdoctors and nurses that had

See # 1 Page 11

PML-Q ready togive PPP a leg up

Says will even vote for Gilani when required

Gaddafiforceslaunch

new attacksAJDABIYA, Libya: Forcesloyal to Libyan strongmanMoamer Kadhafi on Mondaylaunched attacks on a key townthat rebels have vowed todefend, as leading nationsbegan talks on the crisis.

Rebel fighters in Ajdabiyasaid four shells had fallen westof the town while a former offi-cer who defected fromKadhafi's air force said therehad been air strikes.

Ex-colonel Jamal Mansuralso said that rebels hadregained a foothold in Brega,80 kilometres (50 miles) to thewest, which the Libyan armysaid it had captured Sunday.

Ajdabiya guards vital roadsnorth along the coast to therebel capital of Benghazi andeast across the desert to the oilport of Tobruk, which has giventhe insurgents control of east-ern Libya up to the Egyptianborder.

The lightly-armed rebelshave been pushed back some200 kilometres by superiorforces in recent days and arenow only 170 kilometres fromBenghazi, Libya's second citywith a population of around amillion. Mansur said Ajdabiyacould become "anotherZawiyah," referring to the town40 kilometres west of Tripoliwhich was reconquered by pro-Kadhafi troops last week afterbitter and deadly fighting.

The rebels braced for newattacks knowing they couldexpect little quarter fromKadhafi's troops equipped withheavy weaponry and warplanesto which they have virtually noanswer. Libyan armyspokesman Colonel MiladHussein told reporters inTripoli those troops were"marching to cleanse the coun-try" of insurgents, whom hecalled "rats and terrorists." -Reuters