International

SC issues notice for cancellation of bail of Adnan S Khawaja

Council instituted to eye aid inflows See on Page 12

Next PM would be from among us: Pagara See on Page 12

*Crude Oil (brent)$/bbl 78.66

*Crude Oil (WTI)$/bbl 74.54

*Cotton $/lb 97.17

*Gold $/ozs 1,280.10

*Silver $/ozs 20.81

Malaysian Palm $ 843.10

GOLD (NCEL) PKR 35,350

KHI Cotton 40Kg PKR 7,341

*Last Updated 20:00 PST

Yearly(Jul, 2010 up to 16-Sep-2010)

Monthly(Sep, 2010 up to 16-Sep- 2010)

Daily (16-Sep-2010)

Total Portfolio Invest (3 Sep-2010)

41.34

-44.53

1.49

2244

-1.06

0.19

0.44

1.93

0.30

-1.71

-0.09

SCRA(U.S $ in million)

Portfolio Investment

FIPI (17-Sep-2010)

Local Companies (17-Sept-2010)

Banks / DFI (17-Sept-2010)

Mutual Funds (17-Sept-2010)

NBFC (17-Sept-2010)

Local Investors (17-Sept-2010)

Other Organization (17-Sept-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (10-Sep-10)

Inflation CPI% (Jul 10-Aug 10)

Exports (Jul 10-Aug 10)

Imports (Jul 10-Aug 10)

Trade Balance (Jul 10-Aug 10)

Current A/C (Jul 10)

Remittances (Jul 10-Aug 10)

Foreign Invest (Jul 10)

Revenue (Jul 10)

Foreign Debt (Jun 10)

Domestic Debt (Jul 10)

Repatriated Profit (Jul 10)

LSM Growth (Jul 09 - Jun 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.07bn

12.79%

$3.56bn

$6.25bn

$(2.69)bn

$(635)mn

$1.72bn

$144.80mn

Rs 84bn

$55.63bn

Rs 4705.4bn

$62.10mn

4.55%

4.10%

$1,051

170.56mn

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

16.95

2.00

1.70

9.77

PKR/Shares

111.37

145.20

42.83

36.41

33.48

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)

08-Sep-2010

08-Sep-2010

08-Sep-2010

30-Jul-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

17-Sep-2010

12.52%

12.66%

12.79%

13.00%

12.71%

12.75%

12.90%

13.22%

13.30%

13.13%

13.22%

13.31%

13.52%

13.70%

13.87%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 79.40 80.50

Canadian $ 82.70 83.70

Danish Krone 14.70 15.10

Euro 110.40 111.90

Hong Kong $ 10.60 11.10

Japanese Yen 0.992 1.017

Saudi Riyal 22.57 22.80

Singapore $ 63.50 64.20

Swedish Korona 11.60 12.60

Swiss Franc 83.20 84.20

U.A.E Dirham 23.08 23.25

UK Pound 133.20 134.90

US $ 85.65 85.95

Open Mkt Currency Rates

Index Close Change

KSE 100 10,052.97 35.83

Nikkei 225 9,626.09 116.59

Hang Seng 21,970.86 279.41

Sensex 30 19,594.75 177.26

ADX 2,606.61 5.51

SSE COMP. 2,598.69 3.78

FTSE 100 5,525.91 14.23

*Dow Jones 10,616.55 21.72

*Last Updated 20:00 PST

Global Indices

Symbols Buying Selling

TT Clean TT & OD

Australian $ 80.65 80.84

Canadian $ 83.58 83.77

Danish Krone 15.07 15.10

Euro 112.24 112.51

Hong Kong $ 11.03 11.05

Japanese Yen 1.004 1.007

Saudi Riyal 22.84 22.89

Singapore $ 64.10 64.25

Swedish Korona 12.18 12.21

Swiss Franc 84.22 84.42

U.A.E Dirham 23.32 23.37

UK Pound 134.01 134.32

US $ 85.67 85.85

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 33°C 20°C KARACHI 33°C 27°C LAHORE 36°C 23°C FAISALABAD 34°C 21°C QUETTA 31°C 8°C RAWALPINDI 34°C 21°C

Weather Forecast

See on Page 12

LONDON: MQM

a

ISLAMABAD: Minister forPetroleum and NaturalResources Syed NaveedQamar will sign the frame-work agreement ofTurkmenistan-Afghanistan-Pakistan-India (TAPI) gaspipeline project in Ashgabat,Turkmenistan on September20, 2010 along with the hiscounterpart ministers.

TAPI gas pipeline project isbeing planned to bring natu-ral gas from Turkmenistanthrough Afghanistan toPakistan and India.

The heads of states ofTurkmenistan, Afghanistanand Pakistan signed InterGovernmental Agreement(IGA) for joint oil and gaspipeline projects between thethree countries in 2002.

India joined the project in2008 and a revised GPFA wasinitiated for the induction ofIndia, thus changing the proj-ect from TAP to TAPI.

The ADB sponsored pre-feasibility study, conductedin 2004, indicated that the1680-km pipeline projectwas economically and finan-cially viable and estimatedcost was $3.3 billion --revised to $7.6 billion in2008.

After the signing of GPFAin Ashgabat next week, theparties are planning to con-vene rigorous rounds ofnegotiations so as to finalisethe Gas Sales PurchaseAgreement during a proposedTAPI summit in Ashgabat. -APP

Pakistan to inkframework pact

TAPI Project

Staff Reporter

KARACHI: Electronic pay-ments continued to show a ris-ing trend as both the numberand value of such transactionsincreased in the fourth quarter(April-June) of the last 2009-10 fiscal year (FY10).

According to State Bank'sfourth Quarterly Report on'Retail E-Payments and PaperBased Instruments' releasedFriday, the volume and valueof e-Payments transactions inthe country reached to 53.4million and Rs4.8 trillionrespectively showing anincrease of 6.2 per cent innumber and 7.7 per centincrease in value.

During the fourth quarter ofFY10, the volume and value ofATM transactions in the coun-

try reached to 31.1 million andRs250.3 billion respectivelyshowing an increase of 5.9 percent in number and 7.6 percent in value as compared to7.9 per cent increase in num-ber and 10.4 per cent increasein value in the previous quar-ter.

Whereas, the volume andvalue of real time online bank-ing transactions in the countryreached to 17.4 million andRs4.5 trillion respectivelyshowing an increase of 8.9 percent in numbers and 7.9 percent increase in value.

According to the report, thetotal number of AutomatedTeller Machines during thefourth quarter reached to 4,465registering a growth of 2.1 percent. The volume and value of

See # 14 Page 11

E-transactionsup at Rs4.8tn

SBP Report for 4Q FY10

ISLAMABAD: Chief Justiceof Pakistan (CJP) IftikharMuhammad Chaudhry saidjudicial verdicts are beingridiculed and the complaintson non-implementation ofSupreme Court (SC) decisionsare on the rise, added thatcourts verdicts are not jokes.

CJP gave these remarks dur-ing the course of hearing ofpromotion case of top bureau-cracy Friday.

Secretary EstablishmentDivision and others have beenmade respondents in this case.

I N Abbasi an officer ofgrade-22 of InformationGroup had filed contempt ofcourt plea and notices hadbeen issued on this plea.

He took the plea in his appli-cation that the decision pro-nounced by SC in respect ofpromotion of top bureaucracyhad not been implemented andnotification regarding theirappointments had been can-celled from April, 28, 2010instead of September 4, 2009which was against the spirit ofSC verdict.

Reply was sought fromSecretary EstablishmentDivision in this regard and thecourt reprimanded him severe-ly on this count.

CJP in his remarks com-plaints about non implementa-tion of SC verdicts were grow-ing day by day. "Court

See # 7 Page 11

Courts verdictsain’t jokes: CJP

Nonpayment dues

PSO suspendssupply to

Hubco, KepcoISLAMABAD: Pakistan StateOil (PSO) has suspended thesupply of furnace oil to Hubcoand Kepco due to nonpaymentof outstanding dues by them.

According to PSO authorities,it has to recover outstandingdues over Rs48 billion fromWapda, Rs59 billion fromHubco, Rs27 billion fromKepco, Rs606 million fromPIA, Rs348 million fromOGDCL, and while it has to payRs37 billion to Parco, Rs13 bil-lion to PRL, Rs9 billion to NRL,Rs24 billion to Bosikar andRs669 million to others.

Due to nonpayment of out-standing dues from these insti-tutions PSO is also not makingtimely payment to suppliers

See # 13 Page 11

Corps Commander Meet

COASsalutesArmy's

relief workRAWALPINDI: 133rd CorpsCommanders' Conference washeld at General Headquarters onFriday.

The Chief of Army Staff(COAS), General AshfaqParvez Kayani chaired themeeting. The conference was apart of regular monthly meet-ings. The participants werebriefed about the floods andsecurity situation. The forumexpressed satisfaction overoperational readiness of theArmy.

Addressing the conference,General Ashfaq Parvez Kayanihighly lauded the role ofPakistan Army in rescue andrelief operations in the floodaffected areas. He said thetroops deployed in the floodareas saved thousands of lives,and many more stranded peoplewere evacuated to safer places.

The COAS said Army See # 12 Page 11

Staff Reporter

KARACHI: Net foreigninvestment in Pakistan fell34.1 per cent to $267 millionin the first two months of thefiscal year 2010-11, comparedwith $405.4 million in thesame period last year, the cen-tral bank said on Friday.

Out of the total foreign invest-ment, Foreign Direct Investment(FDI) fell 50.2 per cent in Julyand August to $171.4 million,from $344.5 million in the sameperiod last year.

There was a net inflow of

$95.6 million in the first twomonths of the 2010-11 fiscalyear compared with a netinflow of $60.9 million in thesame period last year.

An International MonetaryFund (IMF) emergency loanpackage agreed in November2008 helped Pakistan avert abalance of payments crisis andshore up reserves.

It received the fifth tranche of$1.13 billion of the IMF loan of$11 billion in May and Pakistanand IMF authorities are going tomeet in November to discussthe release of the sixth tranche.

Jul-Aug FDIfalls by half

NODMC TOTALLY NON

POLITICAL BODY: PM

Special Correspondent/

Agencies

K A R A C H I / L O N D O N :

Muttahida Qaumi Movement(MQM) Friday announced 10-day mourning period to con-demn the killing of its leader DrImran Farooq, who was mur-dered on Thursday in London.

Imran Farooq's murdershocked MQM deeply as he(Imran Farooq) was among thefounding leaders of the partyand was close to its chief AltafHussein albeit he was living inreclusion in London with nointerference in the party affairs.

MQM leader Altaf Hussainexpressing his deep condolenceover the killing of Imran Farooqsaid this is the saddest incidentof his life and dubbed Farooq as

"Shaheed-e-Inqelab."He wished that the murderers

of Dr Imran Farooq should bebrought to justice as soon aspossible.

He said he would never for-get this grief and he has lostone of his great comrades.

Dr Farooq Sattar said thedeath of Imran Farooq was a

great loss for the party and theMQM activists. He announced10-day mourning on behalf ofthe MQM Rabita Committee.During the mourning period,MQM activities throughout theworld will remain suspended.

Rabita Committee, he said,also condoled with the

See # 19 Page 11

MQM mournsin deep shock

ISLAMABAD: FederalMinister for Food &Agriculture, NazarMohammad Gondal whileexpressing his satisfactionover the wheat stocks in thecountry said that governmentis committed to provide wheatseeds for the upcoming sowingseason.

According to statementissued here Friday, FederalMinister said government isbound to provide wheat seedfor the upcoming sowing sea-son.

He said it while chairing the

Flood Mitigation 2010 meet-ing that was attended by repre-sentatives from the provincesincluding AJK and Gilgit-Baltistan.

"It is the primary duty of thegovernment to make the avail-ability of wheat seed possibleand give incentives for theflood-affected areas so that thefarmers are empowered togrow the seasonal crops ontime.

We have enough stocks ofwheat to fulfill our localrequirements and provide seed

See # 10 Page 11

Wheat stocksseen sufficient

Govt committed to provide wheat seed: Gondal

WASHINGTON: The USHouse of Representativesapproved a resolution onThursday expressing solidaritywith Pakistan following dead-ly floods that have devastatedthe Asian nation.

House recognised that aneffective and accountable gov-ernment in Pakistan is essen-

tial for the country's long-termrecovery and stability.

The resolution said theHouse "expresses its deepestcondolences and sympathy tothe families of the victims ofthe floods, and its solidaritywith the millions of affectedPakistanis."

See # 11 Page 11

US lawmakersshow solidarity

House supports relief efforts for Pak affected

Holbrooke

urged tohelp Pakseal FTA

ISLAMABAD: The PakistanMuslim League-Nawaz (PML-N) Friday urged US SpecialRepresentative for Afghanistanand Pakistan Richard Holbrooketo support Pakistan's efforts infinalisation of a Free TradeAgreement (FTA) with theUnited States.

In a meeting with Holbrooke,PML-N leader also urged thevisitor to encourage greaterAmerican investment inPakistan, especially in its energyand power sectors, saying that itwould have a direct bearing onthe country's economy as wellas on the people's welfare.

Sharif pointed out that aidpackages were at the best onlystopgap arrangements that haveno lasting impact on the coun-try's economy. On the otherhand, the greater trade and for-eign investment helps instrengthening the country's

See # 8 Page 11

Altaf Hussein says Farooq is Shaheed-e-Inqelab

Karachi, Saturday, September 18, 2010, Shawwal 8, Price Rs12 Pages 12

Plea filedin SC for

army's helpISLAMABAD: A petition hasbeen filed in the Supreme Courtof Pakistan on Friday, seekingPakistan Army's help in imple-menting the judicial orders ofthe apex court.

Defence Ministry, senior offi-cials of the army, chief ministersof all provinces and ElectionCommission were made party inthe petition.

Former assistant advocategeneral of the Musharrafregime, Afshan Ghazanfar, hadfiled the petition. -Agencies

WFP urgesdonors formore aid

ROME: The United NationsWorld Food Programme(WFP) Friday urged donors toprovide additional financialsupport to meet urgent needsand help build the bridgebetween emergency food assis-tance and long-term recoveryin Pakistan.

"No-one could have predict-ed the scale and enormity ofthis catastrophe where womenand children are facing a dan-gerous downwards spiral ofhunger and malnutrition," saidWFP Executive Director,Josette Sheeran.

"We need to scale-up nowand we need to scale-up quick-ly."

WFP has been streamingemergency humanitarian assis-tance into Pakistan since thebeginning of August and has sofar received $103 milliontowards the $600 million budg-et required to fund an

See # 9 Page 11

l Scotland Yard launches inquiry; secures CCTV footagel President, PM, political leadership condemn murderl Imran Farooq to be buried in Karachi, says Sattarl Rabita Committee announces 10-day mourning

Farooq’s wife not underarrest, says Wajid Hassan

ISLAMABAD/LONDON: Pakistani High Commissioner in

UK Wajid Shamsul Hassan has said reports of arrest of MQM

slain leader Imran Farooq’s wife are not true however the police

have provided her security cover in view of possible threat to

her life. He was talking to a private TV channel on Friday. He

said police have taken the CCTV footage in custody and is

investigating issue. The preliminary examination of the case

will take 24 to 36 hours he observed. -Online

Net foreign investment drops 34pc

2 Saturaday, September 18, 2010

TV PROGRAMMES

SATURDAY

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9:05 Best of Subah

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11:05 Mohaaz (F)

12:00 News

13:10 Newsbeat (Rpt)

14:05 Awam Ki Awaz

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17:30 Samaa Metro

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18:30 Samaa Sports

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23:05 Faisla Aap Ka

Jamil Siddiqui

KARACHI: Sales tax(ST) refunds worth bil-lions of rupees are stuckdue to bureaucratic delaysand wrangling from theRegional Tax Office(RTO) causing huge loss-es to value added textilesector, it has been learnt.

Federal Board ofRevenue (FBR) is finan-cially driving the valueadded textile sector tobankruptcy as now theyare barely managing tocarry out their normalbusiness in the absence ofrunning capital.

Due to the most difficulttimes with high cost ofdoing business and worstlaw and order situationand toughest competitionwith neighboring coun-tries the textile exportersare facing severe liquiditycrunch as the RTO isholding back the sales taxrefunds claims of the gen-uine textile exportersdespite various represen-tation they are falling intothe deaf ears and norespite in site, sourceshave said.

Meanwhile in a SOSsent by Pakistan ApparelForum (PAF ) to the

Prime Minister syedYousuf Raza Gilani andFederal Minister ofFinance and Revenue,Economic Affairs andStatistics, Dr AbdulHafeez Shaikh, textilegroup Chairman M JawedBilwani has urged to issueurgent instructions to theFBR and RTO to releaseon Top Priority all theheld up sales tax refundsclaims to the value addedtextile exporters with theaim to relieve them andenable them to run theirfactories and productionwhich has come to stand-still and endeavor to get

valuable foreignexchange sorely neededfor the beleaguered nationin these most difficulttimes.

He demanded that in theoncoming Value AddedTax Regime the ZeroRating of Sales Taxshould be continued forthe entire Textile Industry.

He also sent copies ofhis appeal to theChairman FBR SohailAhmed, Member (IncomeTax) FBR and ImtiazAhmed Barakzai, ChiefCommissioner, RTOKarachi for compassion-ate action.

Sales Tax refund issuesweigh on textile sector

KARACHI: Iranian Counsel in Karachi Abbas Ali Abdollahi handing over a cheque worthRs.5 lakh to Sindh Chief Minister Syed Qaim Ali Shah on his own behall as donation for the

flood affestes ar CM House.-APP

Staff Correspondent

KARACHI: Six candi-dates who filed nomina-tions for the six seats onthe Executive Committee(EC) of Site Association ofIndustry fallen vacant thisyear by turn were declaredvictorious unopposed.

According to the handout of the associationgiven to The FinancialDaily, Abdul WahabLakhani, Asad NisarBurkhurdaria, Junaid MSiddiq, Aslam Sadruddin,Mohammad Irfan Moton

& Faraz Parvez were elect-ed as members ofExecutive Committee ofSite Association ofIndustry

Due to no other nomina-tion received therefore allthe six candidates wereunofficially declared elect-ed unopposed after scruti-ny by ElectionCommission head by MTariq Yousuf.

Hence due to the com-pletion of the electionprocess there will be noelection on 27 Sept asscheduled earlier.

Site associationmembers elected

unopposed

KARACHI: Transparentand impartial distribu-tion of funds to floodaffected citizens throughWatan cards is beingensured without compro-mising on NationalSecurity, relaxation inrules might give way tounwanted elements' entryinto national database;this was stated by TariqMalik Deputy ChairmanNadra in a statementissued today.

He said that NADRA isstriving on zero errorpolicy to ensure that onlydeserving families areissued Watan cardsenabling them to drawbenefits announced bythe Govt, any leniency inthe policy due to politi-cal or social pressureswill jeopardize trans-parency in the system ata time when the wholeworld is eagerly lookingat the govt's efforts ofrelief and rehabilitationof flood victims.

Tariq said that NADRAwill ensure issuance ofCNICs to those who losttheir CNICs during evac-uation due to floods but

will not entertain changeof address requests as itmay qualify a nondeserving person forPKR 20,000 benefit.Similarly by relaxingrules and checks forfresh applicants may leadto registration of wantedaliens. "It's a nationalsecurity issue" said TariqMalik. However we haverequested DCOs, EDOsand local officials toremain available in reliefcamps to attest particu-lars of fresh applicants.

Reacting on criticismon Nadra by certain cir-cles he said that NADRAwould not bow down toany pressure which couldcompromise nationalsecurity. He requestedthe political parties andsocial groups to under-stand the sensitivity ofthe issue and do not tryto pressurize NADRA toentertain the non-deserv-ing people so thatNADRA can maintain itsreputation of being aresponsible organisationworking transparently toserve the citizens ofPakistan.-PR

Nadra ensurestransparency inrelief allocation

KARACHI: The Board ofDirectors of UBL FundManagers (UBLFMs)announced the appoint-ment of Tariq Kirmani asthe new Chairman of theBoard, said an announce-ment made here on Friday.

In announcing the

appointment, Atif RBokhari, President ofUnited Bank Limited(UBL) said, "I welcomeTariq Kirmani as the newindependent Chairman ofthe UBL Fund ManagersBoard of Directors and amconfident that under hischairmanship, UBL Fundswill continue to sustainand further strengthen itsleadership position as thefirst-choice investmentsolution provider with the

best corporate governanceand professional standardsin the industry."

Tariq Kirmani has servedin senior positions ofmultinational companies.His last appointment wasas Chairman of PakistanInternational Airline

(PIA), prior to that he wasManaging Director ofPakistan State Oil (PSO).He joined the UBL FundsBoard as an IndependentDirector in May this year.He currently also serves asDirector on the Board ofNational Bank of Pakistan(NBP), Asia Care Healthand Life InsuranceCompany, Marie AdelaideLeprosy Centre (MALC)and Pakistan Sports Trust,amongst others.-PR

Tariq Kirmanitakes chargeof UBLFMs

KARACHI: Dr MirzaIkhtiar Baig, FederalAdvisor on Textiles, in ameeting with ForeignMinister, Shah MehmoodQureshi in Karachithanked him for his effortsto get EU tariff conces-sions on Import of TextileProducts from Pakistan tosupport our Economy, saida handout issued here.

Dr Baig also thankedPresident Asif Ali Zardari,Prime Minister Yousuf Raza

Gilani, Minister & SecretaryCommerce for their tirelessefforts to pursue this matterwith EU Federal Advisor onTextile was taking up thismatter with E.U. for the lasttwo an half years to allowduty free market access toPakistani Textile Productsand called it a major victoryfor Pakistan. ForeignMinister advised Dr Baigthat there is no export limitfixed by EUC as reported insome sections of press.-PR

Baig lauds FMefforts for EUconcessions

Staff Correspondent

KARACHI: KorangiAssociation of trade andindustry (KATI) hasdemanded from the StateBank of Pakistan (SBP) toreduce at least 200 basispoints in bank rate in theforthcoming MonetaryPolicy.

"The Governor SBPshould reduce two per centinterest rate in the forth-coming Monetary Policyand then gradually bring itto single digit so thateconomy would be able tosustain and industry couldbreathe", KATI demand-ed.

In a joint statementgiven to The FinancialDaily, the Patron In-Chief,KATI S M Muneer,

Chairman, Razzak HashimParacha, Vice Chairmen,Njamul Arfeen andAmjadullah Khan, formerChairmen, Mian ZahidHusain, Masood Naqi,Farhanur Rehman, ZubairChhaya and Senator,Abdul Haseeb Khan whilewelcoming the appoint-ment of Shahid HafeezKardar as Governor StateBank, said that he has atough tasks ahead of himas the country is facing itsmost crucial phase and theeconomy is in shambles.They said that the newlyappointed Governor SBPwould have to take strin-gent measures to main-tain monetary policy andcontain government bor-rowing.

Paracha said and hoped

that Shahid Kardar wouldstrive hard use all hiscapabilities to set realistictargets and try to achievethem."

They said that trade andindustry could in no waybear any further tax orlevies or increase in utili-ties as they alreadybecome out of proportion.

They agreed with allrenowned economicexperts that due to mas-sive floods and loss ofhuge crops, the countrywould have to face asevere shortage of com-modities and governmentwould have to contain notonly its lavish expendi-tures and unstoppable bor-rowing. He said that SBPshould act as an activewatchdog in this regard.

KATI demands 2pccut in discount rate

KARACHI: US Agencyfor InternationalDevelopment (USAID)and four Karachi-basededucation and traininginstitutions signed comple-tion certificates for fourCareer DevelopmentCenters renovated withsupport from the UnitedStates, in a ceremony heldhere recently.

Rehabilitation and reno-vation work was made pos-sible through an innovativepartnership of USAID-funded programs - theCommunity RehabilitationInfrastructure SupportProgram and the PakistanJOBS Project. The Institute

of Cost and ManagementAccountants Pakistan,Pakistan ReadymadeGarment TechnicalTraining Institute, PakistanSwedish Institute ofTechnology, andGreenwich University, alsoparticipated in the event.

"Our activities in Karachiare a true win-win situationfor everyone involved,"said Erika Hoffman-Kiessof the Pakistan JOBSProject, who joined repre-sentatives of the local insti-tutions in marking the endof USAID-funded renova-tion work at their respectivefacilities. "Two USAID-funded projects were able

to come together to benefitmany institutions, students,and communities, all ofwhom will reap the rewardsof improved preparation forand access to the workplace."

Officials from participat-ing institutions said theyare happy the renovationstage of the process hascome to a close, addingthat the centers will serveas a focal point for bring-ing together the needs ofindustry for suitablytrained and qualifiedemployees, with theexpectations of studentsfor meaningful and remu-nerative employment.

USAID patronises career grooming

Fieldhospital

leaves forSehwan

KARACHI: A multi pur-pose field hospital, pre-pared by Omair SanaFoundation (OSF) leftKarachi press club prem-ises for flood hit Sehwan.The hospital is supposedto provide basic medicalfacilities to the affecteesof flood.

The OSF officials saidthat the hospital will be aspecifically focused onhealth management systemunder disaster situation.The field hospital consistsof a minor OT, an OPDclinic, a Pharmacy & otherbasic medical facility. Thehospital will facilitateabout 400 hundred thou-sand people.

Dr Saqib Hussain Ansari,General Secretary of OSF,Dr Tahir Sultan ShamsiVice President of OSF &others staff member includ-ed Dr Zeeshan HussainAnsari, Dr Rahat Hussain,Dr Saif-ur-Rehman,Akhlaq-ud-din , ObaidHashmi, Jahangir Ghazal& Asghar Hussain gavedetails of the hospital in apress conference here.

Dr Saqib Hussain Ansariand Dr Tahir Shamsi saidthat Omair SanaFoundation is basicallyworking on the preventionand eradication ofThalaesemmia, a badlyblood disorder.-PR

KESCchief visits

Thattaaid camp

THATTA: In order to takea firsthand look at ongoingrelief work, KESC CEO,Tabish Gauhar visited theCare Camp set up byKESC in Thatta. The pur-pose of the visit was toreview the relief work aswell as raise the spirits ofthe flood survivors andlend encouragement to theKESC employees who arerunning the KESC reliefcamps set up in Thatta andadjacent areas.

Tabish Gauhar met thepeople living in the campcity, shared Eid greetingsand inquired about therelief services being pro-vided to them. He alsoissued instructions forimprovement in mainte-nance of the tents andensuring continuous supplyof clean drinking water toprevent diseases.

KESC has made specialarrangements to provideshelter, food, medical care,electricity and purifiedwater supply to IDPs inThatta and adjacent townsof Sajjawal, Sunda,Challian and four camps inKarachi. KESC is runningone of the biggest corpo-rate flood relief operationsin the country, to providerelief to about 30,000 IDPs.So far, KESC has provided3,000 tents, 40 trucks offood packages, 7 trucks ofdaily usage items like mos-quito nets, floor mats andutensils, 2 water purifica-tion plants and free medicaltreatment to thousands ofaffected persons.-PR

TraderscondemnDr Imranmurder

Staff Correspondent

KARACHI: Chairman AllKarachi Tajir Ittehad(AKTA) Atiq Mir, hasseverely condemned thegruesome murder of theconvener of MQM DrImran Farooq in Londonand announced full obser-vation of the mourningannounced by MQM onMonday and complete clo-sure of markets.

Atiq Mir urged theresponsible leadership ofMQM to have close coordi-nation with AKTA tothwart any untoward inci-dent attempted by the mis-creants and to make themourning peaceful.

Meanwhile, ChairmanMohammed Kashif Sabrani& Joint Secretary KarachiTajir Association (KTA)Mohammed Fayyaz Tyfonin his separate statementissued to The FinancialDaily also condemning themurder and offered full sol-idarity in the movement ofgrief with MQM.

KARACHI: Tariq Kirmani Chairman UBLFMsalong with UBL Fund Managers Chief Executive,Mir Muhammad Ali, CFA, during his visit to the

UBL Funds Corporate Office.-PR

KARACHI: A view of city's busiest commercial center Tariq Road where, on 1st day

of 10 day mourning being observed by MQM after the assassination of its convener

Rabita Committee Dr Imran Farooq at London on Thursday, all shops are closed

while traffic is off the road. -Photo by Jamil SiddiquiKARACHI: A rush of people seen on the pump which is cordoned off by tents

in Liaquatabad on the mourning day of late MQM leader Dr Imran Farooq.-APP

Computingfuture is

rich: IntelDirector

KARACHI: The future ofcomputing lies in rich, con-text-driven user experi-ences, Intel Vice President,Director of Intel Labs andIntel Chief TechnologyOfficer and Senior FellowJustin Rattner told hiskeynote audience at theIntel Developer Forum inSan Francisco.

Rattner described howcontext awareness is poisedto fundamentally changethe nature of how we inter-act with and relate to infor-mation devices and theservices they provide. Withcomputing devices havingincreased processing power,improved connectivity andinnovative sensing capabili-ties, Intel researchers arefocused on delivering new"context-aware" user expe-riences.-PR

MUMBAI: The Indian rupeescaled its highest level innearly three months on Fridayboosted by gains in thedomestic share-market whichraised hopes for more capitalinflows, a day after the cen-tral bank raised key interestrates.

The partially convertiblerupee closed at 45.8350/8450per dollar, after touching45.81, its highest since June21 and 0.7 per cent above its46.14/15 close on Thursday.

This is the rupee's biggestsingle-day gain since July 27.On the week the unit strength-ened 1.4 per cent, its biggestweekly gain in three months.

So far in 2010, foreignfunds have bought sharesworth $15.4 billion, adding tolast year's record $17.5 billionpurchases.

One-month offshore non-

deliverable forward contractswere quoted at 45.97, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange and MCX-SXclosed at 45.9125 and 45.91respectively, with the totaltraded volume on the twoexchanges at about $7.4 bil-lion. -Reuters

Indian rupee climbs;more gains seen

3Saturday, September 18, 2010

Currency Rates

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 17/09/2010

A USD GBP CAD EUR JPY

O/N 0.22788 0.54875 1.05000 0.39313 SN 0.10500

1WK 0.25150 0.55078 1.06000 0.45625 0.11875

2WK 0.25181 0.55563 1.08667 0.50938 0.12750

1MO 0.25750 0.57000 1.10750 0.57531 0.14375

2MO 0.27438 0.62406 1.17167 0.67250 0.17625

3MO 0.29156 0.72969 1.23500 0.82875 0.22313

4MO 0.34625 0.81734 1.29167 0.91750 0.31125

5MO 0.41297 0.92359 1.34583 1.01188 0.36750

6MO 0.47313 1.02813 1.41667 1.11500 0.42750

7MO 0.52750 1.10469 1.48750 1.16375 0.48438

8MO 0.57750 1.18219 1.56500 1.21438 0.53125

9MO 0.62531 1.26219 1.64167 1.26563 0.58063

10MO 0.67775 1.33688 1.72833 1.31125 0.60875

11MO 0.73188 1.40563 1.82333 1.35688 0.63563

12MO 0.79363 1.46969 1.91500 1.40313 0.66250

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

U.S.A. 85.85 85.65 85.47

U.K. 134.32 134.01 133.70

EURO 112.51 112.24 111.99

CANADA 83.77 83.58 83.36

SWITZERLAND 84.42 84.22 84.00

AUSTRALIA 80.84 80.65 80.44

SWEDEN 12.21 12.18 12.15

JAPAN 1.00 1.00 1.00

NORWAY 14.10 14.07 14.03

SINGAPORE 64.25 64.10 63.94

DENMARK 15.11 15.07 15.03

SAUDI ARABIA 22.89 22.84 22.78

HONG KONG 11.05 11.03 11.00

CHINA 12.76 12.73 12.70

KUWAIT 299.08 298.38 297.60

MALAYSIA 27.62 27.55 27.48

NEW ZEALAND 62.52 62.38 62.21

QATAR 23.59 23.53 23.47

U.A.E. 23.37 23.32 23.26

KR WON 0.07 0.07 0.07

THAILAND 2.78 2.78 2.77

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

ABPL 11.90 12.40 11.90 12.40 12.10 12.60 12.45 12.70 12.50 12.75 12.75 13.25 12.90 13.40 13.25 13.75

ABLN 12.00 12.50 12.00 12.50 12.10 12.60 12.55 12.80 12.70 12.95 12.80 13.30 12.95 13.45 13.00 13.50

JSBL 12.15 12.65 12.25 12.75 12.30 12.80 12.60 12.85 12.70 12.95 12.70 13.20 12.70 13.20 12.90 13.40

ASPK 11.80 12.30 11.95 12.45 12.20 12.70 12.50 12.75 12.60 12.85 12.70 13.20 12.75 13.25 12.90 13.40

CIPK 12.10 12.60 12.20 12.70 12.25 12.75 12.40 12.65 12.60 12.85 12.70 13.20 12.90 13.40 13.05 13.55

DBPK 12.00 12.50 12.10 12.60 12.15 12.65 12.40 12.65 12.60 12.85 12.65 13.15 12.70 13.20 12.80 13.30

FBPK 11.90 12.40 12.00 12.50 12.15 12.65 12.45 12.70 12.55 12.80 12.60 13.10 12.70 13.20 12.95 13.45

FLAH 11.90 12.40 12.15 12.65 12.25 12.75 12.50 12.75 12.65 12.90 12.70 13.20 12.80 13.30 12.95 13.45

HBPK 12.10 12.60 12.20 12.70 12.25 12.75 12.50 12.75 12.65 12.90 12.75 13.25 12.80 13.30 12.95 13.45

HKBP 12.00 12.50 12.00 12.50 12.20 12.70 12.50 12.75 12.65 12.90 12.65 13.15 12.75 13.25 12.90 13.40

NIPK 12.00 12.50 12.15 12.65 12.55 13.05 12.80 13.05 12.90 13.15 13.00 13.50 13.10 13.60 13.20 13.70

HMBP 12.10 12.60 12.10 12.65 12.40 12.90 12.65 12.90 12.80 13.05 12.80 13.35 12.85 13.35 12.90 13.40

SAMB 11.80 12.30 11.90 12.45 12.25 12.75 12.60 12.85 12.80 13.05 12.80 13.30 12.90 13.40 13.00 13.50

MCBK 12.15 12.65 12.20 12.70 12.25 12.75 12.40 12.65 12.55 12.80 12.60 13.10 12.70 13.20 12.95 13.45

NBPK 12.00 12.50 12.10 12.60 12.15 12.65 12.60 12.85 12.75 13.00 12.80 13.30 12.85 13.35 13.00 13.50

SCPK 11.85 12.35 11.85 12.35 12.15 12.65 12.40 12.65 12.55 12.80 12.60 13.10 12.70 13.20 12.90 13.40

UBPL 12.00 12.50 12.00 12.50 12.20 12.70 12.50 12.75 12.65 12.90 12.70 13.20 12.80 13.30 12.95 13.45

AVE 11.99 12.49 12.07 12.57 12.21 12.71 12.50 12.75 12.65 12.90 12.72 13.22 12.80 13.30 12.95 13.45

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.3047 1.3049 1.3159 1.3024

EUR-GBP 0.8338 0.8341 0.8378 0.8331

EUR-CHF 1.3175 1.3179 1.3388 1.3144

EUR-JPY 111.93 111.95 112.97 111.61

USD-CHF 1.0100 1.0104 1.0180 1.0072

USD-CAD 1.0312 1.0316 1.0346 1.0219

GBP-USD 1.5628 1.5643 1.5729 1.5598

GBP-JPY 134.2 134.24 135.04 133.71

AUD-USD 0.9376 0.9380 0.9468 0.9354

EUR-CAD 1.3452 1.3455 1.3504 1.3392

CHF-JPY 84.92 84.98 85.05 84.22

Gold 1275.63 1276.38 1281.93 1271.73

Silver 20.80 20.83 20.01 20.65

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)17/09/2010

As per 22.00 PST

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 12.18 12.15 12.10 12.10 12.10 11.90 12.09

8-15dys 12.30 12.20 12.20 12.20 12.20 12.10 12.20

16-30dys 12.35 12.25 12.25 12.30 12.30 12.30 12.29

31-60dys 12.40 12.45 12.40 12.45 12.45 12.40 12.43

61-90dys 12.55 12.55 12.55 12.61 12.56 12.50 12.55

91-120dys 12.65 12.62 12.60 12.75 12.65 12.65 12.65

121-180dys 12.75 12.80 12.75 12.80 12.72 12.74 12.76

181-270dys 12.85 12.90 12.80 12.84 12.80 12.80 12.83

271-365dys 12.90 12.91 12.92 12.88 12.85 12.92 12.90

2-- years 13.10 13.10 13.08 13.06 13.05 13.10 13.08

3-- years 13.10 13.15 13.14 13.12 13.10 13.15 13.13

4-- years 13.16 13.20 13.20 13.13 13.15 13.25 13.18

5-- years 13.20 13.25 13.25 13.14 13.18 13.28 13.22

6-- years 13.20 13.28 13.25 13.16 13.20 13.28 13.23

7-- years 13.25 13.35 13.28 13.18 13.22 13.30 13.26

8-- years 13.25 13.40 13.28 13.20 13.22 13.30 13.28

9-- years 13.25 13.35 13.32 13.24 13.25 13.32 13.29

10--years 13.25 13.35 13.32 13.30 13.30 13.32 13.31

15--years 13.50 13.60 13.55 13.50 13.40 13.55 13.52

20--years 13.70 13.75 13.70 13.70 13.65 13.70 13.70

30--years 13.85 14.00 13.80 14.00 13.75 13.80 13.87

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for September 17, 2010

Source Events Actual Forecast Previous

NZD Westpac Consumer Sentiment 114.1 119.3

EUR German PPI m/m 0.0% 0.3% 0.5%

EUR Buba President Weber Speaks

EUR Current Account -3.8B -3.7B -3.8B

USD Core CPI m/m 0.0% 0.1% 0.1%

USD CPI m/m 0.3% 0.2% 0.3%

USD Prelim UoM Consumer Sentiment 66.6 70.2 68.9

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Oct 19 2010 Sep 08 2010 1%

Bank of England Oct 07 2010 Mar 05 2009 0.50%

European Central Bank Oct 07 2010 May 07 2009 1%

Federal Reserve Sep 21 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

The Reserve Bank of Australia n/a May 04 2010 4.50%

Bank of Japan n/a Dec 19 2008 0.10%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, September 17,2010 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

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

1 week 0.96 0.57 0.96 0.85 0.92 0.80 -0.92 -0.93

1 month 0.53 0.28 0.78 0.68 0.26 0.49 -0.61 -0.38

3 months 0.65 0.27 0.37 0.40 0.88 0.70 -0.29 -0.59

6 months 0.85 0.36 0.67 0.75 0.61 0.59 -0.70 -0.57

1 year 0.50 0.86 0.86 0.94 0.89 0.61 0.34 -0.73

2 years 0.39 0.56 0.39 0.77 0.69 0.41 -0.28 -0.65

Currencies CorrelationEUR/USD

NEW YORK: The dollar ral-lied against the euro and theyen on Friday as poor US con-sumer sentiment data easedrisk appetite against the back-drop of possible currencyintervention by the Bank ofJapan.

The euro vacillated in arange of more than a centagainst the dollar on the finaltrading day of the week amidfears about the Irish bankingsector. An Irish FinanceMinistry spokesman saidthere was no truth to rumoursIreland would need help todeal with its finances.

After Japan intervened inthe market to sell yen for thefirst time in six years onWednesday, traders said cau-tion about further interventionlent support to the dollar if itfell near 85.00 yen. Analystssaid yen price action in a day

of risk aversion gave the Bankof Japan some credibility inthe short term regarding itsintervention strategy.

"I'd expect increased volatil-ity in euro/dollar as there is

still a lot of uncertainty aboutthese re-emerging Europeandebt problems," said MatthewStrauss, senior currencystrategist at RBC CapitalMarkets in Toronto. "We'llprobably see more of thiswhere there are rumors in themarket about specific coun-tries, but even if they'redenied, in the bigger picture,

the market is going to remainconcerned about peripheralEuropean debt issues."

The euro moved betweengains and losses against thedollar before moving lower as

US consumer sentiment unex-pectedly worsened inSeptember to its weakest levelin more than a year. It lasttraded down 0.3 per cent at$1.3042 with a session peakof $1.3159 and low of$1.3019.

The euro briefly recoveredwhen an InternationalMonetary Fund spokesperson

said the IMF did not thinkfinancial assistance would beneeded for Ireland.

Against the yen, the eurofell 0.1 per cent on the day at111.97 yen, down from a five-week high struck earlier. Theeuro fell 0.8 per cent againstthe Swiss franc to 1.3177francs a day after the Swisscentral bank predicted a bigeconomic slowdown as francstrength hits growth.

The dollar rose 0.1 per centagainst the yen to 85.85 yen,within striking distance of aone-month high against theyen as the threat of furtherJapanese intervention kept theyen pressured.

Elsewhere, the Australiandollar hit a two-year high,boosted by rising gold pricesand risk appetite. The dollarindex plumbed a five-weeklow. -Reuters

Dollar up vs euro, yen ondata, intervention threat

Swiss franceases on

dovish SNBZURICH: The Swiss franceased further on Friday follow-ing a sharp drop in the previoussession when the SwissNational Bank surprised with asceptical growth outlook, indi-cating unchanged interest ratesfor quite a while.

Traders saw further near-termlosses for the Swissie thoughanalysts said Switzerland'sstrong economy and investor'sconcerns about the health of theglobal economy were still sup-porting the franc as a safehaven currency.

The franc fell 0.3 per centagainst the euro compared tothe New York close, trading at1.3316 per euro at 0635 GMT.The franc had dropped nearly 2per cent on Thursday, after theSNB's dovish statement.

The franc was slightly firmeragainst the dollar at 1.0145 perdollar. The next level to breakwas 1.3370, opening the way toa euro rise to 1.3580, he said."The support should be nowaround 1.3220." -Reuters

SHANGHAI: Spot yuan closedat a post-revaluation highagainst the dollar on Fridayboosted by a buying spree late inthe day following raised marketforecasts of how much the yuancan climb in coming months.

The market's anticipation ofmore appreciation comes afterthe People's Bank of China's(PBOC) fixed another recordmid-point before trading beganearlier on Friday.

The yuan closed at 6.7235 tothe dollar, rising 1.05 per cent inseven trading days -- its biggestseven-day gain since January2008 and the third biggest sincethe Chinese currency's landmarkJuly 2005 revaluation.

Traders said they expected theyuan's upward trek to powerahead and it had the potential torise another 2 per cent to 6.6 perdollar or stronger in the comingthree months due mainly to USand global political pressures.

Meanwhile, the yuan's nomi-nal effective exchange rate(NEER), or its value against atrade-weighted basket, depreci-

ated 1.38 per cent in Augustafter a fall of 1.45 per cent inJuly, according to the latestdata published by the Bank forInternational Settlement late onThursday.

Before trading started onFriday, the People's Bank ofChina fixed the yuan's dailymid-point versus the dollar at6.7172, up from Thursday's6.7181 and extending a stringof record high reference ratesin a row.

At the close, the yuan was up1.53 per cent since the PBOCabolished its peg to the dollaron June 19.

Offshore, dollar/yuan non-deliverable forwards also felllate in the session to imply moreyuan appreciation, with three-month NDFs hitting record lowsfor the second day.

Three-month NDFs were bidat 6.6980 in the late afternoon,erasing the previous record lowof 6.7002 on Thursday, withtheir implied three-month yuanappreciation rising to 0.29 percent from 0.27 per cent. -Reuters

Yuan at post-revalhigh as outlook firms

SYDNEY/WELLINGTON: The Australianand New Zealand dollars rose sharply on Fridayas steady buying by a US bank, gains in Asianshare markets and a record high for gold allhelped whet the appetite for risk.

The Aussie climbed to $0.9450, from andearly $0.9351 and tantalisingly close to two-yearhighs of $0.9457. It was now up 1.7 per cent forthe week, the fourth straight week of gains andnot far from the 2008 peak around $0.9851.

Traders said there was no particular newsbehind the move but did report aggressive buy-ing by one well-known US bank along withJapanese demand against the yen. The latterhelped lift the Aussie to a four-month top of80.89 yen, a gain of 2.6 per cent for the week sofar.

There was also talk of a huge binary optionwith a strike at $0.9475 that was giving someonean incentive to try and trip it. The NZ dollarbounced back to $0.7301, having ranged

between $0.7239 and $0.7308, after Thursday'sretreat from $0.7335, as Asian stock marketsclimbed up.

The kiwi took a spill Thursday after the centralbank issued a downbeat outlook for the econo-my with reduced growth and rate forecasts. Thebank is seen holding rates at least until Marchnext year according to a new Reuters poll.

Support for the kiwi was seen around $0.7200,with resistance at Wednesday's high of $0.7357.

Markets see 67 basis points of tightening overthe next 12 months from 69 on Wednesday andcompared with 79 basis points in late July. .

In contrast, a run of mostly upbeat Australiandata has led the market to revise up sharply thechance of further rate hikes form the ReserveBank of Australia in coming months.

The Aussie's relative yield advantage helps itjump to five-month highs on the kiwi atNZ$1.2960, before steadying at NZ$1.2938. -Reuters

Aussie heading for 4thweek of gains, NZ$ bounces

SEOUL: Asian currencies,including the Malaysian ring-git and the South Korean won,rose on Friday helped by arally in stocks globally andbroad weakness in the dollar.

The Philippine peso foundsupport from strong portfolioinflow data and demand fromspeculative funds, althoughsome dealers suspected itsrally was capped by centralbank intervention.

Authorities in South Koreawere spotted buying dollars tocap the won's strength, feedinginto market speculation thatAsian policymakers areincreasingly concerned aboutexport competitiveness.

"Given strong Asian eco-nomic fundamentals and grow-ing appetite for assets in theregion, Asian currencies areexpected to rise more. But Idon't think FX authorities inthe region will just let themrise, considering their exports,"said Jeon Seung-ji, a currencyanalyst at Samsung FuturesInc.

Dealers said foreignexchange authorities boughtdollars to prevent the won ris-ing beyond 1,160 per dollar.The currency closed up 0.34per cent at 1,160.5 fromThursday's domestic close of1,164.5. It rose as high as1,159.2 during the day.

"The won is regaining a bull-ish trend, although the authori-ties will be a variable," said aforeign bank dealer.

The peso rose to 44.25 perdollar, up 0.3 per cent, afterdata showed net portfolioinflows in August hit a 15-month high.

The Philippine currency isexpected to rise further on abrighter outlook for the econo-my. The Thai baht reboundedin mid-afternoon trade toaround 30.74 per dollar from30.82 in the morning and 30.77late on Thursday.

The baht has risen 8.5 percent against the dollar thisyear. -Reuters

Asian currencies

Mostly gain on stocks;won capped by govt

LONDON: Sterling cut gainsagainst the dollar on Friday,coming off an earlier five-weekhigh as renewed euro-zone sov-ereign banking sector concernsput riskier currencies and equi-ties back under pressure.

As worries about peripheraleuro-zone countries resurfaced,the euro turned lower againstthe dollar, prompting other

riskier currencies, includingsterling, to follow suit, andpushing equities off their highs.

The euro fell below a seven-week high against the pound hit onThursday just above 84.00 pence.By 1434 GMT, sterling was at$1.5628, up 0.1 per cent on the daybut well below an earlier 5-weekhigh of $1.5730 when the dollarfell broadly and traders reportedsterling/dollar demand from Asiansovereigns and a US bank.

Technically, sterling was wellsupported against the dollar,staying above a number ofclosely watched moving aver-

age levels, including its 200-day moving average currentlyat $1.5376 and the 50-day mov-ing average at $1.5520.

The euro was down 0.4 percent at 83.32 pence, pullingaway from the 83.60 pencelevel, where traders reported anoptions expiry, and dippingbelow its 100-day moving aver-age at 83.50 pence.

Sterling recovered against theeuro after falls on Thursday fol-lowing weak UK retail salesdata, with traders saying thesingle currency's failure tomake a sustained break above84.00 pence encouraged ster-ling buying.

Figures on Thursday showed anunexpected 0.5 per cent fall inUK retail sales during August.Analysts said a 16.5 per centjump in weekly department storesales at John Lewis -- seen as abellwether for UK consumerspending -- reported on Friday,helped offset this. -Reuters

Stg cuts gains vs $,rises against euro

Taiwan dollar

surges on Asia

optimismTAIPEI: The Taiwan dollar hita more than four-month closinghigh on Friday on broad opti-mism about Asia's economicfuture, following solid signalsfrom China, India andSingapore.

The Taiwan dollar endedT$31.739 to the US currency,the strongest final price sinceMay 10 and compared withThursday's close of T$31.8.

Risk appetite grew as Chinaraised its yuan mid-point 1 percent since Sept. 9 under USpressure for Beijing to revaluethe currency. Investors werealso encouraged by asSingapore export data beatexpectations, and after Indiaraised rates more aggressivelythan expected.

Taiwan's currency will trackgains in the yuan as a proxy forthe non-convertible Chineseunit because of the island'sstrong trade ties with China.

Upbeat economic data orearnings from the UnitedStates, Taiwan's No.2 exportmarket, would support the localcurrency as investors favourgrowth-linked assets. Signs ofweakness in the US economycould pressure the local forexmarket. -Reuters

Peso up 0.3pc on data; some see cbank intervention

Australian dollar hits two-year high vs greenback

Yar Muhammad Khan (SI)

Appropriate developmentthrough scientific managementof land/natural resources leads

to sound and bumper economy whichin turn provides cemented foundationfor vibrant existence of a country. InPakistan, so far, due to ad hoc man-agement and lopsided policies withdefective implementation, evaluation,and feedback system the country, inspite of innumerable resources, hasbecome a pauper more or less, therebylosing its independent status. It ishere, that after the devastation offloods, we must detract from the olddiscordant policies & managementpractices and adopt new strategies tobeef up production through scientificendeavors so as to carve out a NewPakistan based on thrilling economy.For this, I hereby present a modest andprecise plan, which can be further sup-plemented/complemented by expertsand relevant stakeholders.Pakistan emerged as an independent

nation of the world in 1947. It occu-pies a geographic area of 87.98 mha orabout 0.8 million sq-km. Out of whichclassed land is 59.55 mha i.e. 68 percent while unclassed happens to be28.56 mha as 32 per cent of the totalarea. Cultivable land is 20.55 mha --23per cent. Culturable wasteland is 11.19mha --12.8 per cent. Land affected bywater logging is 6.9 mha and by salin-ity 4.5 mha. Urbanisation is rampant tothe extent of 5-7 per cent. In additionmillions of hectares stand affected bywind and water erosion. As a result75 per cent of the land is turning intodry desert. In other words only 68 percent land is available for developmentat present while 28 per cent is notunder any treatment, which also needsimmediate retrieval for urgent devel-opment.(Ref 1992- National Statistics)

Physiographically Pakistan can bedivided into three major units:

i) The Northern MountainsThe northern mountains are the

meeting place of the three great moun-tain ranges of the world, theKarakoram, the Himalayas and theHindukush. Although there are morethan fifty peaks which are higher than6700 meters above sea level but someof the Peaks like K-2, Pamir andTrichmir are famous throughout theworld. This region has lush greenforests, alpine pastures, cold deserts,sprawling agri/ grassy fertile landswith a multiple variety of preciousand rare fauna & flora. The tractabounds in the rich reservoirs of bluegold -- the great glaciers.

ii) The Western HighlandsThe western highlands are lower in

altitude and comparatively drier thanthe northern mountains. The aridityincreases in these highlands as onetravels from Khyber Pakhtunkhwa inthe north to the Balochistan provincein the South. Takht-Suleman is thehighest peak in these mountains stand-ing tall at 3,374 meters. This tract hasvery fertile agricultural and pastoralland, with low to medium high alti-tudes and abundance of fertile, fruit,agricultural and range land as well asadequate minerals, flora, fauna andother resources. The areas are punctu-ated with numerous streams and riversand have flood plains and arid tracts.

iii) The Indus PlainsThe Indus plain mostly confined to

the province of Punjab consists of finealluvium deposited by the Indus, and

its five tributaries, i.e. Ravi, Chenab,Jhelum, Sutlej and Beas. Southwardin Sindh, this plain is lower in altitude,is of more recent character and isformed by the deposits of only oneriver (Indus). It has vast tracts of drydeserts and swamps in addition to larg-er tracts of fertile arable lands.

In addition to these three a relativelysmall physiographic division compris-es the Potohar plateau and salt range inthe Punjab and occupies the north-western section of the Indus plain.

Biotic SettingPakistan has a great variety of eco-

logical zones / bio-climates and corre-spondingly a great diversity of vegeta-tion and animals. The major habitats inthe country, are the ocean, the swamps,the rivers, the lakes, the flood plains,the arid plains, the sand and pavementdeserts, the tropical thorn, tropical drydeciduous, subtropical arid, subtropi-cal dry, subtropical plains, dry andmoist temperate and subalpine forests,grassy tundra's and cold deserts. SoPakistan is so rich in these resourceswhich very of a few countries of theworld can have such varied bioclimat-ic/ecological zones, needed for maxi-mum and all weather commodity andhigh valued crop production.

The country's extreme vulnerabilityto climate change is a result of its geo-graphic location and elevation, as wellas its demographics and mismanage-ment of the inclusive land and naturalresources. Pakistan lies on a steepincline, dropping sharply from almost8,500 meters down to sea level withina distance of less than 3,000 kilome-ters. This situation is augmented by thepresence of huge glacial reserves inthe north. These melt and flow throughthe country to supply more than 70 percent of its river flows. The frozen"blue gold" is Pakistan's most preciousreserve and it sustains the agriculture-based economy, which is aided bymonsoon rains. This precious resourceof water has, however, been adminis-tered with utter apathy and negligence,resulting in adverse climate changeand floods syndromes while addition-ally affecting adversely the optimalproduction of the country.

Past Management of theseUnits and its Hazardous EffectsDue to non existence of long term

patent sustainable policy of resourcedevelopment from the government.side, to preserve and further developthe valuable natural and other landresources and maintain proper coordi-nation with local communities, theNorthern mountain and the westernhigh lands have been utterly misman-aged where land resources especiallythe forests, a permanent source of soilstabilisation have been ruthlessly cutand destroyed paving way for impend-ing flood catastrophes.

● Similarly due to uncontrolledover grazing by million of cattle's inthe tract, the grassy land & other veg-etation have been awfully decimated /disturbed providing severe chances toflood havocs on one hand while onother hand turning the lush green tractinto deserts/vegetation less areas proneto soil and wind region.

● Faulty Agricultural practicese.g. to cultivate the sloppy & high-lands with out vouching for properterracing and optimal crops rotation aswell as lack of sound integratedw/shed management practices, havewashed the fertile soil away leavingbehind loose soil & mud to be affected

even by a low quantum of rains.● Again due to haphazard &

unplanned construction/habitation, thesloppy areas of the tract have beenmade highly vulnerable to severe ero-sion/land slides and floods.

● In the Indus plans due to mis-use of water and other cultural mal-practices, it has been severely inflictedwith water logging, salinity, water &wind erosion and loss of organic mat-ter.

● Similarly due to incommen-surable and ad hoc management ofland & natural resources 75 per cent ofthe fertile land of the country is short-ly becoming deserts.

● Again consequent uponunplanned industrialisation & urbani-sations, arable lands are converted intourban tracts and thus become produc-ers of acidic effluents that flow intooceans, rivers and canals raising haz-ards for aquatic life as well as squeez-ing the productive base of the country.

● Due to high degree of erosionin uplands, rivers, canals and water-ways get filled with fine sandy/loamyclay soil and raise its beds firmly sup-porting the impending flood havocsespecially in the monsoon rains.

In short, due to lack of compatiblelong term development policy and nonexistence of scientific managementsystem and a viable monitoring, evalu-ation and feed back process, in thepast, classified land resources of thecountry have not been properly sur-veyed, datatised, managed and devel-oped within multiple ecological zonesof the country while on the other handthe remaining natural resources of theunclassed land have been lost orawfully damaged due to manmade andnatural catastrophes.

The July, 2010 floods are a wake-up call and a blessing in disguise forthe scientists, planners, politiciansand administrators to hold headstogether and conjecture a basic 50-100 years policy of for rebuilding ofa New Pakistan with religious zealand steadfast resolve. To implementand monitor it with viable feedbacksystem we will have to develop ourland & natural resources in an applepie order so that Pakistan becomes asafe haven, economically independ-ent, and sovereign for its brave &laborious millions in future.

● I, as an individual, qua retiredprofessional having about 50 yearsprofessional experience, assure thenation that it is a job full of sacrifices &devotion but not impossible. It is herethat I sincerely desire to lay down aprecise model of development as howto achieve these goals and also toavert/mitigate such disasters in future.

● First of all the governmentshall plan for a coordinated responsestrategy to immediately form a L&NRResource Development Commission,where on merits, dedicated profession-als, planners, specialists, lawyers andothers relevant persons be includedfrom all provinces as its members.

The said commission shall have asubcommittee from provinces wherepersons of impeccable calibre beinstalled. Favoritism, NepotismCronyism and other malpractices beevaded for keeping this sacred nation-al trust in view.

After having the formation of thecommission, a basic national policy of50-100 years of rebuilding Pakistani.e. developing its natural and landresources be initiated by adopting the

model given below. a) A database system for the coun-try/provinces should be set up, underwhich, the professionals will collectthe detailed land, human, naturalresources, and other relevant datathrough spot and land satellite imagingtechniques as well as aerial photogra-phy and land survey. Detailed consoli-dated/integrated land resource mapswould thus be for the country.

b) Based on national leveldatabase, a national land-usage policybe promulgated

c) Under the land use policybased on the availability of resources& other characters of the area, differ-ent zones be delineated.

d) Keeping the nature ofresources in different zones, zonallaws must be edited.

e) Then in each zone integrat-ed land resource development plansshould be set up and executed in acoordinated manner with participatedapproaches.

This process is replicated for eachprovince and different region depend-ing on the variability ofresources and other characters.

f) Again here at country aswell as Provinces and regional levelan efficient and viable monitoring,evaluation and feed back systemwould be established where comput-erised data would be available and eas-ily transmitted to other implementingagencies. Through this system thebasic development policy, land useplan etc. would be regularly updatedand made compatible with internation-al standards.

By adopting this highly scientificstrategy like other advanced countrieswe will perfectly avoid the misuse ofland, water, soil, mineral, wildlife andother land resources through faultyAgricultural, commercial and otherharmful practices and would definitely.

Obscure the dangers of flood havocswhich are being hatched from faultyagro-ecological practices & ad hocmanagement

Under this model, rivers, canals,and other waterways would be prop-erly trained and watershed/catch-ment areas and dams be managedthrough integrated watershed man-agement practices.

To avoid flood havoc a perfect rivertraining model is narrated as under.

A detailed survey of a river, to knowits width, depth, type of bed soil, andlength be carried out first. Then itshould be planned in a manner that itturns into the shape of a canal withmeasurements of width and depth sothat it can contain and let water passthrough. It must be 20-30 per centmore capacious than the highest everflood level. The bank of this so-calledcanal-river should be turned into 50'-100' or higher embankments supportedby trees to keep them stabilised. Fromsuch a model river new --canal-- net-work of distributaries through the areamaybe constructed for irrigation,power generation and other productivepurposes.

By doing this, on one side floodscould be avoided & its water can alsobe conserved for agriculture, powergeneration and other purposes and onother side, a sizable land would berecovered for agri & other productivepurposes.

The writer is ex-secretary environ-ment ex-vice chancellor, Agricultural

University, Peshawar

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.

Imran Farooq'sAssassination,a Big ConcernPolitical killings aren't new to Pakistan but their

current frequency and high-profile targets are.Given the circumstances they have become a seriousalarm at the moment for such murders, sometimes,are either aimed at spurring a sweeping politicalchange or something even worse.

The latest blow dealt to the country is Dr ImranFarooq's assassination --one of founding leader ofthe Muttahida Qaumi Movement (MQM). He wasstabbed to death in London on Thursday evening.

He was elected as member national assembly fromKarachi in the 1988 general elections. Farooq wasalso the parliamentary leader of the MQM in thelower house. Later on, in 1992, when Altaf Hussainwent into self-imposed exile in the wake of a mili-tary crackdown against MQM, Farooq also wentunderground and ran the party from hiding for sevenyears before taking political asylum in UK. His is aloss that MQM would never be able to make up for.How the leadership of Pakistan's one of the mostintegrated parties would react to it and what happensnext are the questions of the hour.

Hundreds of political workers have been killedover the last 20 years in Karachi. However, noneexpected that the leadership living in UK could alsobe exposed to such threats. Political observers saythere can be extraordinary repercussions if theattackers are found to have any links with Pakistan.Lately, ANP and MQM have been accusing eachother openly for being responsible for killingactivist of both sides.

Pakistan in general and Karachi in particular haswitnessed the deadliest carnages, starting with theassassination of Benazir Bhutto and the latest in theaftermath of MQM and ANP local leaders' killings.The modus operandi has been almost the same start-ing with killing of a leader, followed by strikes andmourning calls bringing all sort of economic activi-ties to a grinding halt.

The killing of leaders is only aimed at pushing thecountry into absolute anarchy and ultimate destabil-isation. Ironically, over the years the role of lawenforcing agencies has been no more than paper-work. After every incidence, while promising todeal culprits an iron blow, they only blow smokeand wait for their next such cue to deliver the same"promising" dialogues. They also need reformationfollowed by restructuring with injections of hon-esty-based professional integrity.

At first the MQM leadership, showing prudence,kept Dr Imran Farooq's murder news only to them-selves as long as they could for tens of thousands ofactivists and people at large were assembling in dif-ferent parts of Karachi, Hyderabad and other townsin Sindh to celebrate their leader's birthday. This,they did in the best interest of the city, an act thatdeserves commendation. Soon after London con-firmed Farooq's death sentiments took a mournfulturn in Karachi without an agitative wake. The city,though, saw little business and was in a strict stay-at-home kind of mood, was calm as yet.

While the MQM leadership in Karachi and Londonwent into closed-door sessions to discuss the situa-tion arising out of the development, reports fromLondon said no one has claimed responsibility forthe attack so far and no arrests have been made.

This sad incident is a grave point of concern forall of us especially our political leaders. Whatelse are we waiting for to happen before werealise that Pakistan's enemies are growingstronger as fast as we are fragmenting into eth-nic/sectarian groups more and more. How manyeye-openers do we need to wake up? We have toidentify the enemies within and do away withthem before they do the same to us.

4Saturday, September 18, 2010

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 Sabir

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The Financial Daily InternationalVol 4, Issue 46 Making a Trophy

Out of Catastrophe

Afghanistan is holding a voteon Saturday (today) for 249seats in its lower house of

parliament amid Taliban threats to dis-rupt the poll and serious concernsabout fraud and low voter turnout.

Here are some scenarios on how thevote could play out:

MAJOR VIOLENCE,LOW TURNOUT

The Taliban have threatened to derailthe process and have been attackingand intimidating candidates, campaignworkers, voters and election officials,warning of violence against those whoparticipate in the election.

Officials on Friday reported a rash ofat least 20 election-related kidnappingsthey blamed on insurgents.

If the scale of violence reaches mas-sive levels, it could have a seriouseffect on turnout that disenfranchisesmore voters. At least 1,000 of aplanned 6,835 polling stations will stayclosed over security fears. Such an out-come would leave the election lackingcredibility.

Turnout may also suffer from cyni-

cism among Afghans that democracy isa farce, especially after the fraud-marred presidential election last year.

History shows the Taliban have hadlimited success in disrupting past elec-tions. They were active in both the2005 parliamentary poll and the 2009presidential vote, but did not stop vot-ing from going ahead. Last year, how-ever, attacks and threats did result inlow turnout in Taliban strongholds inthe south, which is the heartland of eth-nic majority Pashtuns.

MODERATE VIOLENCE,MODERATE TURNOUT,

MODERATE FRAUDAfghanistan is a country at war and

has limited infrastructure amid some ofthe world's most forbidding terrain, sopulling off a nationwide election is nomean feat.

In that context, the definition of asuccessful election changes. U.N.envoy Staffan de Mistura has said aturnout of between 28 per cent and 40per cent should be considered a suc-cess.

He made that comment when the reg-

istered number of voters was estimatedat around 17.5 million. Afghanistan'selection commission said on Thursdaythere were only 11.4 million eligiblevoters, but gave no explanation for thediscrepancy.

Some fraud can be expected sincecampaigning in Afghanistan's youngdemocracy often consists of candidatesoffering money directly to voters, withthe highest bidder winning their vote.Traditional patronage systems alsoplay a big role.

Given the Taliban's failure to com-pletely disrupt the 2005 and 2009 polls,and the presence of nearly 150,000 for-eign troops alongside nearly 300,000Afghan police and soldiers, this seemsa more likely outcome.

RAMPANT FRAUD BUTMINIMAL VIOLENCE

It is still possible there will be wide-spread fraud but minimal violence,lessening the focus on turnout. Butanother fraud-hit poll would still bejudged a failure and would furtherstrain relations between PresidentHamid Karzai and his Western backers.

Washington and its allies inAfghanistan were infuriated by thefraud surrounding Karzai's re-election,and graft in his government remains amajor point of friction.

There is a perception among manyAfghans that Karzai's government, andpoliticians in general, are only in it forpersonal enrichment and not nationaldevelopment.

It also makes it easier for the Talibanto exploit the political landscape.

Since greater government stabilitywill be a big factor in Washington'simpending strategy review, in whichthe scale and pace of troop withdrawalsare likely to be examined, more fraudcould make an eventual US pulloutmore difficult.

The only certainty is that it will be along and drawn-out process, with pre-liminary results not expected beforeOct. 8 and a final result not before Oct.30. Those dates could be pushed backfurther if, as expected, there are thou-sands of complaints from disgruntledlosers among the 2,500-odd candi-dates.-Reuters

The ‘Maybe’ Upshotsof Afghan Elections

FERTILISER000 tonnesUrea Offtake (Jan to July 10) 3,565Urea Offtake (July 10) 580Urea Price (Rs/50 kg) 879DAP Offtake (Jan to July 09) 374DAP Offtake (July 10) 49DAP Price (Rs/50 kg) 2,626

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 09 to June 10) 71,998

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

INDUS MOTOR COProduction (July 09 to June 10) 50,557

Sales (July 09 to June 10) 50,823

Production (July 10) 5,162

Sales (July 10) 4,999

HONDA ATLAS CARProduction (July 09 to June 10) 13,500

Sales (July 09 to June 10) 14,120

Production (July 10) 1,560

Sales (July 10) 1,272

DEWAN FAROOQ MOTORSProduction (July 09 to June 10)1,218

Sales (July 09 to June 10) 1,371

Production (July 10) 41

Sales (July 10) 40

BANKING SECTORScheduled bank (Rs in mn)Deposit (August 20,10) 4,595,176

Advances (August 20,10) 3,304,533

Investments (August 20,10) 1,788,671

Spread (July 2010) 7.51%

OIL MARKETING CO(000 tons)MS (Jul 09 to June 10) 1,933

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

Fuel Oil (Jul 09 to June 10) 9,259

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

PRICES (Ex-Refinery) RsMS (1 Sep 10) 40.85

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)NPL 10.96 7.67 NML 48.95 6.10 DGKC 25.30 4.61 UBL 54.51 3.03 HUBC 33.50 2.74

Symbol Close ChangeWYETH 940.00 40.65 NESTLE 1,880.50 30.50 COLG 682.99 30.49 IDYM 245.50 11.11 FZTM 361.32 7.18

Symbol Close ChangeSIEM 1,106.34 -25.49ULEVER 4,048.26 -22.74SHEZ 102.00 -4MFFL 69.42 -3.43PHDL 66.61 -3.39

Plus 202Minus 122Unchanged 25

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Jakarta at all-time high;Manila slips from peak

Europe shares fall onUS data, bank worries

Saturday, September 18, 2010 5

Opening 10,017.14

Closing 10,052.97

Change 35.83

% Change 0.36

Turnover (mn) 66.54

Opening 3,170.37 Closing 3,189.47 Change 19.10% Change 0.60Turnover (mn) 3.15

Opening 2,581.75

Closing 2,591.49

Change 9.74

% Change 0.38

Turnover (mn) 0.23

ANNOUNCEMENTS

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

D.G.K.Cement(Consolidated) Yearly - 310.776 0.84

D.G.K.Cement Yearly - 233.022 0.72

JS Global Capit. Yearly 50% (D) -77.356 -1.55

Nikkeiat 6-wkhigh on

weak yenTOKYO: Nikkei average rose1.2 per cent to a six-week clos-ing high on Friday, helped by aweaker yen after Japan's mas-sive yen-selling this week,leading the benchmark to bookits best weekly performancethis year.

On Friday, the benchmarkNikkei rose 116.59 points to9,626.09, its highest finishsince Aug 6. The broader Topixadded 0.9 per cent to 852.09.Japanese markets will beclosed on Monday for a nation-al holiday.

Trade slowed on the Tokyoexchange's first section, with1.67 billion shares changinghands. Advancing stocks out-numbered declining ones bynearly 4 to 1.

In other upbeat technicalsigns, the Nikkei's 25-day mov-ing average, which is consid-ered a proxy for a one-monthmoving average and is closelywatched in Japan, has turnedupward.

But market players said theNikkei faced stiff selling pres-sure above 9,600 frominvestors who have waited tosquare large long positionsbuilt at that level.

Japan's first currency inter-vention in six years onWednesday knocked the yenfrom a 15-year high versus thedollar and boosted the Nikkeiby more than two per cent,though analysts have said theyen's six-month uptrend doesnot look broken.

Even so, the Nikkei posted aweekly rise of 4.2 per cent, itsbest week since earlyDecember 2009, with shares ofhigh-tech exporters andautomakers among the topgainers in Japanese stocks thisweek.

On the technical front, theNikkei also pierced the bottomof its Ichimoku cloud this weekand probed higher towards thetop of the cloud, though resist-ance lurks there.

"A solid performance byexporters' shares continued asthe yen largely kept its weak-ness against the dollar," saidKazuhiro Takahashi, generalmanager at Daiwa SecuritiesCapital Markets.

"Given Japan's attitudetoward intervention this time,such as its large size, counter-moves may be unlikely. Eyesare now on the FederalReserve's meeting next week,at a time when US yields are onthe rise."

Japan sold an estimated 1.8trillion yen ($21 billion) fordollars on Wednesday, a recordfor a single day, with PrimeMinister Naoto Kan pointing tomore potential yen selling, butTokyo has faced internationalcriticism for its intervention.

Since most advancedeconomies are grappling withslow growth at home, Japan'smove has heightened concernsthat countries could launch around of competitive devalua-tions to support their ownexports.

Japan's yen-selling interven-tion will likely be on the agen-da when Prime Minister NaotoKan meets US PresidentBarack Obama next week inNew York, the Asahi newspa-per reported on Friday.

The dollar traded at 85.70yen by late afternoon in Tokyo,compared with its low of 82.87hit on electronic trading plat-form EBS on Wednesday.

Kyocera Corp rose 1.1 percent to 8,200 yen and HondaMotor Co added 1.9 per cent to3,015 yen.

See # 18 Page 11

Nawaz Ali

KARACHI: The week endedon a positive note at KarachiStock Exchange (KSE) due tolocal institution's buying withEuropean Union agreement toprovide assistance to Pakistan'sexports providing some addi-tional support. However,investor participation remainedlow owing to security situationin the city after the killing ofMQM leader in London.

The benchmark KSE 100-index rose 35 points to 10,052points, KSE 30-index grew 28points to 9,870 points and KSEall-share index climbed 27points to 7,022 points.

"Investors remained cautiousover tense law and order situa-tion in the city. However, buy-ing at attractive levels allowedthe market to close positive,"said Tariq Hussain Khan, Headof portfolio managementDarson Securities. EU agree-ment of concession in tariff forexports from Pakistan and pos-itive news regarding Iran-Pakistan gas pipelines alsosupported the index to sustain10,000 levels, he added.

Market took a negativebeginning of the day and wasmainly in the negative zoneduring the first session due toselling pressure developedafter uncertain law and ordersituation in the city.

Therefore, index breachedthe psychological barrier of10,000 points and at a momentit touched its lowest level ofthe day of 9,959 points (-ve 57points). However, somerenewed buying activities atlower levels allowed the indexto recover and it managed toclose the first session withreduced loss of 13 points at alevel of 10,003 points.

Thereafter, in the second ses-sion the remaining losses werewiped off and index bouncedinto the positive zone due to con-tinued buying by the local insti-tutional investors. Index at about4:04 PST touched an intradayhigh of 10,069 points (+ve 52points). Finally, market managedto close the last session of theweek in the green zone.

"Assurance by EU regardingconcessions to Pakistani tex-tiles allowed the beneficiarystocks to invite renewed buy-

ing on strength, while accumu-lation on dips did invite snaprallies in various main boardstocks, having the capacity oftrading at improved multiplesafter launching of the muchawaited leverage product thuskeeping the main board on thewinning streak, besides provid-ing short term trading opportu-nities to the market men," saidan equity dealer at a local bro-kerage house.

Foreign investors were how-ever on the selling side asaccording to NCCPL they did anet selling of $1.06 million. Onthe local side, mutual fundsand banks did a net buying of$1.92 and $0.43 millionrespectively while individualinvestors did a net selling of$1.71 million.

Volumes stayed on the lowerside as 66.5 million sharestraded during the day, whichwere 23.7 million shares lessas compared to a turnover of90.2 million shares onThursday.

Out of total 349 active issues,202 advanced and 122 declinedwhile 25 issues remainedunchanged.

Khi stocks finishweek in green zone

HONG KONG/SHANGHAI:

Hong Kong shares rose inhealthy volume, lifting thebenchmark index to a five-month high with investors rid-ing a rally in risk assets acrossAsia.

The Hang Seng Index rose1.29 per cent to 21,970.86,higher on the year for the firsttime since mid-April. TheChina Enterprises Index gained1.41 per cent to 12,171.19.

China's key stock indexdeclined for a third straight ses-sion on lower volume asinvestors continued to trimpositions ahead of long holi-days in coming weeks.

A sharp rally at the start ofthe week following better-than-expected data from China andthe US helped the benchmarkrecord its sharpest weekly gainsince late February, up 3.4 percent.

With the Aussie and the eurorallying today, people werewatching whether the ShanghaiComposite was going to holdup, said Christian Keilland,head of trading at brokerageBTIG in Hong Kong.

"Once Shanghai bounced offthe 2,595 support, momentumtraders rushed in, chasing highbeta stocks," said Keilland.Beta is a measure of volatilityof a particular security relativeto the broader index.

Consumer-related plays roseahead of the Mid-AutumnFestival holiday in China.Belle International HoldingsLtd, which also has a relativelyhigh beta of 1.45, rose 4.7 percent and was the top gainer onthe Hang Seng Index.

Brewers rallied with TsingtaoBrewery Co Ltd up 4.7 per centon healthy volume. KingwayBrewery Holdings Ltd jumped10.1 per cent.

Chinese car and batterymaker BYD Co Ltd, which isbacked by billionaire investorWarren Buffet, soared 10.7 percent amid a broad rally in autostocks.

China Construction BankCorp rose 2.4 per cent.

Industrial and CommercialBank of China Ltd was up 0.9per cent.

The week's rally on the HangSeng Index has taken its rela-tive strength index to 70, whichindicates stocks are technicallyoverbought and could bepoised for a pullback.

The Shanghai CompositeIndex closed at 2,598.7, find-ing support around the 2,595level. Analysts said the indexhad room to drop further butthey saw near-term supportaround the index's 60-daymoving average at 2,580.

"Recently, A shares have suf-fered from a lot of negativenews, such as worries over apossible rise in deposit rates.This is impacting sentiment forlisted companies," said ChenXingyu, analyst at PhillipSecurities in Shanghai.

Turnover was subdued asinvestors chose to stay awayafter trimming positions in pre-vious sessions ahead of holi-days.

China will see two majornational holidays in the nextthree weeks, during which themarket will be open for a com-bined seven trading days, withtwo weeks having either one ortwo days.

"The upcoming holidays aremaking investors cautious.During this time if global mar-kets change, what do you do?,"said Zhang Gang, analyst atCentral Securities in Shanghai."After the holidays we haveSeptember and third-quartereconomic data, so this is notgiving investors a reason tobuild up new positions."

Power stocks supported theindex after state media reportedthat several Chinese provinceswere considering raising elec-tricity prices, which could befollowed by others. HuanengPower International Incadvanced five per cent.Financials were the biggest dragon the index with AgriculturalBank of China Ltd down 1.1 percent falling further below its list-ing price. -Reuters

HK equitieshit 5-mth highShanghai ends lower on thin volumes

MUMBAI: Brisk foreign fundinflows helped Indian sharespost their best weekly gain in10 months to close 0.9 per centhigher on Friday, led byReliance Industries, havingtested new 32-month highseach day of the week.

Reliance Industries led thegainers, rising as much as 2.9per cent after a source said theenergy major was in talks withUS-based Chesapeake Energyto buy a stake in Eagle Fordshale gas project. If a deal isstruck, it would be the firm'sfourth such buy this year.

The BSE index rose 0.91 percent or 177.26 points to19,594.75, with 24 of its com-ponents closing in the green.

"India's outperformance ver-sus other emerging marketpeers, its strong economicgrowth and earnings growthforecast, makes it attractive,"said Rakesh Rawal, head ofprivate wealth management atAnand Rathi.

In the broader market, gain-ers were 1.5 times the numberof losers in a relatively bettervolume of 481 million shares.The 50-share NSE index rosenearly one per cent to 5,884.95

points.Nine of the top 30 stocks

scaled their all-time high thisweek, as the benchmark loggedits third straight weekly gain. Itrose 4.2 per cent this week, itsbest weekly gain in 10 months.

Reliance Industries closed2.6 per cent higher at 1,026.75rupees. Bharti Airtel rose 2.9per cent to 357.90 rupees asCredit Suisse raised its pricetarget on the stock to 415rupees from 360 rupees andretained "outperform" rating.

Software majors recoupedsome of Thursday's losses,with the sector index edging0.5 per cent higher after shed-ding 2.3 per cent in the previ-ous session. Tata ConsultancyServices and InfosysTechnologies firmed 1.9 percent and 0.2 per cent respec-tively while Wipro bucked thetrend and dropped 0.7 percent.

Financials fared mixed aftera Reuters poll showed onThursday, India still has one ortwo more interest rate increas-es in store for the rest of the fis-cal year that ends in March2 0 1 1 .

See # 16 Page 11

India stocks climbon foreign buying

LONDON: Financials andenergy stocks dragged Britain'stop share index lower by theclose on Friday as weak USconfidence data and worriesover Ireland's finances prompt-ed investors to edge out ofriskier assets.

The FTSE 100 index ended31.69 points or 0.6 per centlower, at 5,508.45, havingretreated from significant gainsearlier in the session.

It fell for a third day havinglost 0.3 per cent on Thursday,but it eked out a 0.1 per centgain for the week, its fourthweek in positive ground.

Banks, which are sensitive toslight changes in risk appetite,took most points off the indexwhile other financial stocksalso suffered. Barclays fell 3.2per cent and hedge fund com-pany Man Group fell 4.4 percent.

"You can't expect it to go upin a straight line and the datagave people an excuse to takeprofits," said Philip Poole,global head of macro invest-ment strategy at HSBC GlobalAsset Management.

"But I think there will be fur-ther upside because it's lesslikely that there will be a dou-ble dip than there will be lowbut sustained growth."

The cost of insuring Irishsovereign debt against defaulthit a record high and theIrish/German spread reached aeuro lifetime peak after theIrish Independent newspapersaid Ireland was "perilouslyclose" to calling in the IMF andthe EU. The Irish authoritiesand the IMF sought to down-play any such prospects, butmarkets were slightly unsettledand equities fell.

Insurers were also hurt by theslight retreat in risk appetite.Aviva fell 0.9 per cent whileOld Mutual lost two per cent.

Energy stocks were alsoweaker as crude fell by morethan 1.5 per cent to below $74per barrel. BP fell 1.3 per cent.

Aggreko was the top blue-chip riser, up 4.1 per cent asCredit Suisse started coverageon the temporary power suppli-er, albeit with a "neutral"stance. Engineering group

See # 15 Page 11

Financials, energybring FTSE down

MUMBAI: An Indian stock broker reacts while looking atSensex index at brokerage firm. Indian shares post

their best weekly gain in 10 months to close0.9pc higher on Friday. -Reuters

US stocks mid-day

Marketsurpasses

key level onstrong earningsNEW YORK: The S&P 500briefly pierced a key level onFriday after solid earnings fromOracle and Research InMotion, but stocks were littlechanged after a survey showedconsumer sentiment worsenedin early September.

The S&P 500 managed tobriefly overcome key technicalresistance around 1,130, push-ing through intraday highsfrom June and August. A deci-sive move above that level onsolid volume would be a bullishsign.

A report that the InternationalMonetary Fund might bail outIreland weighed on stocks earlyin the session. That as well as asurvey on deteriorating con-sumer sentiment sparked prof-it-taking after the 1,130 levelwas reached.

"It's the top end of the range.It's a good place to take profits,and I think that's what we sawhappen in Friday trade," saidNick Kalivas, an analyst at MFGlobal in Chicago. He addedthat a Federal Reserve meetingand earnings reports next weekhelped to keep investors on thesidelines.

The Dow Jones industrialaverage gained 11.43 points, or0.11 per cent, to 10,606.26. TheStandard & Poor's 500 rose1.53 points, or 0.14 per cent, to1,126.19. The NasdaqComposite added 12.06 points,or 0.52 per cent, to 2,315.31.

Volume spiked at the open,with more than 1.5 billionshares traded on the New YorkStock Exchange, Amex andNasdaq in the first half hour,more the double the levels inrecent days.

"Clearly coming into todayon a short-term basis we werein a minor upturn, and the bullsshowed they were in commandof the marketplace in opinionor buying power," said JeffreyFriedman, senior market strate-gist at Landward in Chicago.

If indexes are unable toregain ground before the closeof trading, "it's going to ques-tion that concept," saidFriedman.

Support for the S&P 500's200-day moving averageremains around 1,116, a level itvaulted on Monday.

See # 17 Page 11

Saturday, September 18, 20106

Volume 66,536,014

Value 2,947,110,025

Trades 42,596

Advanced 202

Declined 122

Unchanged 25

Total 349

Current 7,022.36

High 7,032.60

Low 6,957.06

Change h27.31

Current 10,052.97

High 10,069.93

Low 9,957.27

Change h35.83

Current 9,870.65

High 9,884.21

Low 9,758.69

Change h28.63

Market KSE 100 Index All Share Index KSE 30 Index

Current 15,687.59

High 15,714.03

Low 15,480.83

Change h96.09

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

Gharibwal Cement Limited

GWLC closed down -0.96 at 3.04. Volume was 6,212 per cent above

average (trending) and Bollinger Bands were 23 per cent wider than

normal. The company's loss after taxation stood at Rs1.209 billion

which translates into a Loss Per Share of Rs5.21 for the nine months

of fiscal year (9MFY10).

GWLC is currently 71.5 per cent below 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 very strong flows of volume out of GWLC (bearish).

Trend forecasting oscillators are currently bearish on GWLC.

RSI (14-day) 30.64 Total Assets (Rs in mn) 11,525.06

MA (10-day) 4.82 Total Equity (Rs in mn) 1,455.21

MA (100-day) 7.54 Revenue (Rs in mn) 1,250.25

MA (200-day) 10.53 Interest Expense 370.77

1st Support 2.66 Loss after Taxation (369.85)

2nd Support 2.21 EPS 09 (Rs) (1.595)

1st Resistance 3.90 Book value / share (Rs) 6.28

2nd Resistance 4.69 PE 10 E (x) -

Pivot 3.45 PBV (x) 0.48

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

NICL closed up 0.13 at 1.50. Volume was 162 per cent above average

(trending) and Bollinger Bands were 54 per cent narrower than normal.

The company's profit after taxation stood at Rs4.568 million which

translates into an Earning Per Share of Rs0.02 for the year ended

FY10.

NICL is currently 19.5 per cent below its 200-day moving average and

is displaying an upward trend. Volatility is high as compared to the aver-

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

moderate flows of volume into NICL (mildly bullish). Trend forecasting

oscillators are currently bullish on NICL.

RSI (14-day) 52.80 Total Assets (Rs in mn) 1,674.73

MA (10-day) 1.44 Total Equity (Rs in mn) 114.34

MA (100-day) 1.75 Revenue (Rs in mn) 1,383.58

MA (200-day) 1.87 Interest Expense 88.00

1st Support 1.35 Loss after Taxation (146.72)

2nd Support 1.22 EPS 09 (Rs) (0.663)

1st Resistance 1.63 Book value / share (Rs) 0.52

2nd Resistance 1.78 PE 10 E (x) -

Pivot 1.50 PBV (x) 2.90

Nimir Industrial Chemicals Ltd.

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

PAEL closed up 1.00 at 15.08. Volume was 299 per cent above aver-age (trending) and Bollinger Bands were 28 per cent narrower than nor-mal. The company's profit after taxation stood at Rs275.249 millionwhich translates into an Earning Per Share of Rs2.34 for the half yearof fiscal year (1HFY10).PAEL is currently 0.2 per cent above its 200-day moving average andis displaying a downward trend. Volatility is extremely high when com-pared to the average volatility over the last 10 trading sessions. Volumeindicators reflect moderate flows of volume into PAEL (mildly bullish).Trend forecasting oscillators are currently bearish on PAEL.

RSI (14-day) 69.83 Total Assets (Rs in mn) 19,070.04

MA (10-day) 13.48 Total Equity (Rs in mn) 4,007.36

MA (100-day) 13.47 Revenue (Rs in mn) 14,621.61

MA (200-day) 15.07 Interest Expense 1,372.68

1st Support 14.52 Profit after Taxation 260.55

2nd Support 13.92 EPS 09 (Rs) 2.685

1st Resistance 15.40 Book value / share (Rs) 41.29

2nd Resistance 15.68 PE 10 E (x) 3.22

Pivot 14.80 PBV (x) 0.37

Pak Elektron Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

RAVT closed down -0.05 at 1.96. Volume was 14 per cent below averageand Bollinger Bands were 86 per cent narrower than normal. The compa-ny's profit after taxation stood at Rs7.167 million which translates into anEarning Per Share of Rs0.29 for the nine months of fiscal year (9MFY10).RAVT is currently 78.7 per cent below its 200-day moving average andis displaying a downward trend. Volatility is relatively normal as com-pared to the average volatility over the last 10 trading sessions. Volumeindicators reflect volume flowing into and out of RAVT at a relativelyequal pace. Trend forecasting oscillators are currently bearish on RAVT.

RSI (14-day) 33.71 Total Assets (Rs in mn) 437.02

MA (10-day) 2.03 Total Equity (Rs in mn) 75.13

MA (100-day) 5.71 Revenue (Rs in mn) 316.78

MA (200-day) 9.12 Interest Expense 12.51

1st Support 1.75 Profit after Taxation 0.24

2nd Support 1.55 EPS 09 (Rs) 0.01

1st Resistance 2.10 Book value / share (Rs) 3.01

2nd Resistance 2.25 PE 10 E (x) 5.07

Pivot 1.90 PBV (x) 0.65

Ravi Textile Mills Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,233.70 1,249.94 1,223.59 1,242.72 9.02 0.73

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

6,170,898 - - 65,194.15 mn 1,017,327.93 mn 1,243.15

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

11.10 4.11 37.01 68.56 6.18 1,217.78

Attock Petroleum 576 5.87 323.84 326.25 320.00 325.24 1.40 105950 328.49 281.00 250 - 100 -

Attock Refinery 853 9.59 81.51 85.58 80.50 85.52 4.01 1979011 93.60 73.47 - - - -

BYCO Petroleum 3921 - 10.72 11.08 10.55 10.85 0.13 1298211 13.05 9.62 - - - -

Mari Gas Company 735 16.66 121.92 124.00 119.80 122.97 1.05 50162 138.45 112.80 32.17 100B 31 -

National Refinery 800 6.22 200.07 207.00 196.50 203.93 3.86 135053 206.99 182.01 125 - - -

Oil & Gas DevelopmentSPOT 43009 10.14 146.39 147.70 145.51 146.99 0.60 222528 153.00 133.00 82.5 - 55 -

Pak PetroleumSPOT 9958 6.64 211.19 214.10 209.00 211.92 0.73 1716872 214.00 182.00 130 20B 90 20B

Pak Oilfields 2365 7.02 235.22 238.44 233.41 237.87 2.65 1138983 238.90 209.99 180 - 80 -

Pak Refinery Limited 350 - 56.78 59.00 55.81 58.98 2.20 8519 82.00 48.26 - - - -

PSO SPOT 1715 4.55 264.16 269.50 262.10 268.68 4.52 799622 289.45 233.10 50 - 80 -

Shell Gas LPG 226 13.96 31.25 31.50 30.00 31.00 -0.25 231 43.95 27.32 - - - -

Shell Pakistan XD 685 10.00 193.51 197.00 190.00 195.01 1.50 13967 246.90 191.02 330 - 40 -

Paid up Last 60 days 2009 2010

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

920.57 933.85 918.31 927.26 6.69 0.73

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

12,367,958 - - 47,070.70 mn 115,422.01 mn 927.26

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

5.49 0.47 8.64 16.68 3.04 917.21

Ali Asghar Textile 222 - 1.21 2.21 0.80 2.00 0.79 17005 1.80 0.20 - - - -

Amtex Limited 2415 4.81 17.92 18.30 17.70 17.98 0.06 661439 20.45 10.42 - - 30 -

Artistic Denim 840 5.97 19.80 20.48 20.47 20.48 0.68 1501 21.59 17.55 20 - - -

Azgard Nine 4493 263.00 10.73 10.79 10.43 10.52 -0.21 1839984 13.40 8.55 - - - -

Bannu Woolen 76 - 8.75 9.20 9.00 9.20 0.45 1500 10.50 7.50 - - - -

Blessed Tex Mills 64 1.15 44.21 46.25 46.25 46.25 2.04 151 49.40 36.15 7.5 - - -

Chenab Limited 1150 - 3.59 3.71 3.25 3.66 0.07 129281 5.10 2.85 - - - -

Colgate Palm 316 14.67 652.50 682.99 640.01 682.99 30.49 114 770.00 544.00 115 15B - -

Colony Mills Ltd 2442 2.35 2.80 3.05 2.80 2.80 0.00 2524 5.00 2.23 - - - -

Crescent Textile 492 3.10 20.20 20.01 19.81 19.81 -0.39 899 28.60 19.57 - - - -

Ellcot Spinning 110 1.68 24.71 24.50 23.85 24.50 -0.21 1001 25.30 18.80 7.5 - - -

Gadoon Textile 234 1.41 36.51 38.33 37.00 38.33 1.82 30480 44.50 31.60 - - - -

Gul Ahmed Textile 635 3.83 19.99 20.70 20.70 20.70 0.71 4077 23.00 17.11 5 - - -

Gulistan Spinning 146 1.71 6.00 5.89 5.02 5.03 -0.97 1608 7.00 4.51 - 10B - -

Hira Textile Mills Limited716 1.56 4.29 4.50 4.10 4.38 0.09 26053 4.61 2.52 - - - -

Ibrahim Fibres 3105 3.45 36.37 38.18 36.61 37.50 1.13 156 41.00 33.35 - - - -

Idrees Textile 180 2.45 3.98 4.34 3.52 4.02 0.04 2497 4.58 2.55 - - - -

J K SpinningXDXB 74 0.50 7.16 7.45 6.50 7.42 0.26 303 10.30 4.30 - - 20 5B

Kohinoor Ind 303 - 1.72 1.93 1.51 1.74 0.02 161103 2.00 1.10 - - - -

Kohinoor Textile 1455 3.66 5.77 6.30 5.82 5.90 0.13 118977 6.25 4.00 - - - -

Maqbool Textile 168 5.17 7.85 8.85 8.80 8.84 0.99 268 11.40 3.25 - - - -

Mehmood Textile 150 2.38 63.80 66.99 61.20 61.56 -2.24 1506 74.50 46.00 4050.2257B - -

Mian Textile 221 - 0.50 0.84 0.33 0.50 0.00 5018 1.40 0.05 - - - -

Mukhtar Textile 145 - 0.45 0.94 0.34 0.40 -0.05 5590 0.99 0.26 - - - -

Nagina Cotton 187 1.86 16.00 16.00 15.50 16.00 0.00 1050 16.00 10.70 - - - -

Nishat (Chunian) 1586 3.18 16.51 17.30 16.36 17.15 0.64 2625918 19.49 14.64 - 50R - -

Nishat Mills 3516 5.76 46.62 48.95 46.51 48.95 2.33 6104561 53.14 40.81 20 - 25 45R

Pak Synthetic 560 3.90 6.50 6.99 6.40 6.51 0.01 45619 7.90 5.50 12.5 - - -

Ravi Textile 250 5.03 2.01 2.05 1.70 1.96 -0.05 380007 8.10 1.90 - - - -

Reliance Weaving 308 1.16 9.00 9.45 9.00 9.45 0.45 1790 10.68 6.91 - - - -

Sajjad Textile 213 0.07 0.55 0.32 0.32 0.32 -0.23 20000 4.19 0.16 - - - -

Sally Textile 88 0.29 3.98 3.99 3.50 3.51 -0.47 1010 4.98 2.51 - - - -

Sana Ind 55 5.39 36.45 37.25 35.56 36.13 -0.32 8254 38.00 27.25 35 - 60 -

Service Ind 120 4.94 190.19 194.00 185.00 192.00 1.81 1392 240.99 176.50 200 - - -

Shahpur Textile 140 1.63 1.24 1.66 0.80 1.17 -0.07 124041 2.26 0.25 - - - -

Shams Textile 86 1.00 15.50 15.50 15.50 15.50 0.00 11500 17.63 14.35 - - - -

Suraj Cotton 180 1.54 33.00 34.50 34.00 34.49 1.49 2142 36.20 29.50 15 - - -

Thal Limited XD 256 5.22 103.25 105.99 103.99 105.48 2.23 14236 114.99 91.50 20 20B 20 -

Treet Corp 418 0.51 40.80 40.75 40.24 40.47 -0.33 12537 49.49 37.20 - - - -

Yousuf Weaving 400 1.55 1.13 1.80 1.10 1.13 0.00 507 1.90 0.73 - - - -

Paid up Last 60 days 2009 2010

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

1,019.27 1,077.77 990.53 1,069.25 49.98 4.90

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

823,905 - - 3,763.71 mn 5,667.93 mn 1,069.25

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

3.81 0.41 10.64 6.27 1.64 941.11

AL-Abid Silk 96 1.14 29.50 29.00 28.03 28.42 -1.08 3200 33.41 28.45 7.5 - - -

Nakshbandi Ind 1176 21.16 14.54 15.54 13.54 15.45 0.91 266 14.70 10.00 - 57R - -

Pak Elektron 1174 3.22 14.08 15.08 14.20 15.08 1.00 802401 15.95 11.20 - 10B - 10B

Tariq Glass Ind XD 231 2.77 17.20 18.10 16.60 17.00 -0.20 18004 19.12 13.50 - - 17.5 -

Paid up Last 60 days 2009 2010

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

1,445.96 1,466.20 1,402.23 1,445.30 -0.67 -0.05

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

117,057 - - 11,335.33 mn 188,180.81 mn 1,462.46

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

30.96 9.38 30.30 30.57 0.99 1,445.30

Adam Sugar 58 0.62 11.49 11.75 11.45 11.60 0.11 15000 14.75 10.50 10 - - -

Chashma Sugar 287 0.83 10.30 10.30 9.60 10.30 0.00 6012 11.40 8.00 - - - -

Colony Sugar Mills 990 - 3.50 3.98 2.54 3.88 0.38 1009 5.00 2.40 - - - -

Dewan Sugar 365 - 1.80 1.65 1.12 1.38 -0.42 3835 2.98 1.11 - - - -

Habib Sugar 600 5.82 27.30 28.39 27.31 28.22 0.92 47529 27.49 22.50 35 25B - -

Habib-ADM Ltd 200 4.39 16.00 16.25 15.30 15.62 -0.38 687 16.94 13.00 40 - 40 -

Hussein Sugar 121 - 7.10 8.10 7.50 8.10 1.00 400 8.04 4.22 - - - -

Ismail Ind 505 12.41 71.77 73.00 73.00 73.00 1.23 105 76.90 53.64 15 - 17.5 110R

J D W Sugar 490 2.18 65.15 65.00 65.00 65.00 -0.15 5104 67.90 60.10 40 - 0 12.5R

Mehran Sugar XD 143 3.00 52.01 53.75 51.50 53.50 1.49 530 58.74 50.07 35 30B 25 10

Mirpurkhas Sugar 70 6.31 59.98 62.24 59.98 59.99 0.01 105 68.13 41.85 25 10B - -

National Foods 414 21.08 53.50 56.17 50.83 53.33 -0.17 2351 65.29 41.35 - 25B - -

Nestle Pakistan XD 453 21.64 1850.00 1899.00 1795.01 1880.50 30.50 1265 1937.22 1550.00 600 - 200 -

Noon Sugar 165 - 11.00 10.80 10.70 10.72 -0.28 1000 14.35 10.00 50 10B - -

Quice Food 107 - 2.10 2.10 2.10 2.10 0.00 24500 3.50 1.60 - - - -

Sakrand Sugar 223 - 3.00 3.00 3.00 3.00 0.00 5000 3.50 2.02 - - - -

Shahmurad Sugar 211 15.29 10.50 10.80 10.50 10.55 0.05 1251 10.75 7.40 15 - - -

Shahtaj Sugar 120 - 47.88 50.27 45.50 48.14 0.26 827 93.98 45.40 100 - - -

Shakarganj Mills 695 - 3.94 4.00 3.50 3.50 -0.44 302 5.16 3.02 - - - -

UniLever PakistanSPOT 665 22.67 4071.00 4089.00 3910.01 4048.26 -22.74 103 4200.00 3710.00 458 - 178 -

Paid up Last 60 days 2009 2010

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

1,066.74 1,076.56 1,056.18 1,070.90 4.16 0.39

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

49,572 - - 6,768.53 mn 39,737.59 mn 1,070.90

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

3.99 1.01 25.35 20.42 5.11 1,050.61

Agriautos Ind 144 5.05 69.60 69.20 67.01 69.18 -0.42 7150 78.39 63.01 40 - 90 -

Atlas BatterySPOT 84 6.95 182.50 185.00 181.15 184.33 1.83 10106 209.00 178.00 100 20B 100 20B

Atlas Honda 626 7.09 97.25 101.79 98.00 101.79 4.54 448 127.99 92.00 80 30B - -

Dewan Motors 890 - 1.41 1.70 1.49 1.50 0.09 1402 2.24 1.16 - - - -

General Tyre XD 598 6.47 23.98 24.95 23.60 23.61 -0.37 1001 28.80 21.10 - - 20 -

Ghandhara Nissan 450 - 5.46 5.75 5.50 5.75 0.29 18318 6.60 4.75 - - - -

Honda Atlas Cars 1428 - 10.77 11.20 10.50 10.65 -0.12 3906 14.50 10.05 - - - -

Indus MotorsSPOT 786 5.23 228.89 229.45 226.00 228.97 0.08 6230 287.00 212.29 100 - 150 -

Sazgar Engineering 125 4.80 25.50 25.50 25.50 25.50 0.00 1000 27.85 23.58 - 20B - -

Paid up Last 60 days 2009 2010

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

1,415.66 1,420.23 1,402.37 1,412.20 -3.46 -0.24

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

94,497 - - 1,336.62 mn 31,212.62 mn 1,424.09

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

7.67 2.92 38.02 131.49 17.14 1,412.20

Bolan Casting 95 8.10 43.90 46.09 44.50 44.77 0.87 13100 45.50 35.25 - 20B - -

Dewan Auto Engineering 214 - 0.55 0.50 0.50 0.50 -0.05 999 0.98 0.36 - - - -

Ghandhara Ind 213 2.45 16.45 17.45 16.50 17.45 1.00 41408 20.24 15.26 - - - -

KSB Pumps 132 8.32 83.88 88.00 79.70 83.50 -0.38 570 91.00 61.57 35 - - -

Millat Tractors 293 7.35 575.23 575.25 570.00 573.20 -2.03 38387 597.90 466.00 450 25B 650 25B

Paid up Last 60 days 2009 2010

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

906.91 908.45 892.07 902.25 -4.67 -0.51

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

138,763 - - 3,043.31 mn 33,346.70 mn 906.91

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

2.62 1.15 43.91 15.55 5.92 901.16

Cherat Papersack 92 4.67 48.19 50.30 47.55 48.97 0.78 94836 51.05 28.87 - - 20 25B

ECOPACK Ltd 230 - 2.00 2.44 2.05 2.05 0.05 5001 2.89 1.90 - - - -

Ghani Glass 970 6.47 59.50 60.74 58.63 60.00 0.50 8626 59.88 54.65 30 10B - -

Merit Pack 47 - 13.76 14.40 13.03 14.40 0.64 300 20.70 11.81 - - - -

Packages Ltd 844 16.66 110.00 110.00 109.00 109.97 -0.03 26125 125.96 106.05 32.5 - - -

Tri-Pack Films 300 8.02 100.50 101.50 99.01 99.99 -0.51 3786 105.00 91.00 100 - - -

Paid up Last 60 days 2009 2010

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

928.73 945.85 919.66 930.60 1.87 0.20

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

6,787,933 - - 54,792.74 mn 69,324.88 mn 955.95

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

6.83 0.48 7.10 19.04 2.79 928.73

Al-Abbas Cement 1828 - 3.58 3.65 3.51 3.65 0.07 3100 4.69 2.82 - - - -

Attock Cement 866 4.86 68.00 68.50 68.00 68.49 0.49 10395 72.40 63.00 50 20B 17.5 -

Berger Paints 182 - 16.32 16.69 16.30 16.53 0.21 2441 20.00 15.42 - - - 122R

Cherat Cement 956 - 11.52 11.20 11.20 11.20 -0.32 2300 12.50 8.90 - - - -

Dadabhoy Cement 982 12.69 1.62 1.74 1.56 1.65 0.03 18001 2.74 1.50 - - - -

Dandot Cement 948 - 1.85 2.00 1.09 1.69 -0.16 1717 3.90 1.02 - - - -

Dewan Cement 3574 - 1.54 1.53 1.45 1.50 -0.04 28777 2.20 1.40 - - - -

DG Khan Cement Ltd 3651 35.14 25.23 25.59 24.80 25.30 0.07 4614073 28.74 23.02 - 20R - 20R

EMCO Ind 350 - 3.18 3.30 3.02 3.03 -0.15 8428 5.15 2.40 - - - -

Fauji Cement 6933 13.13 5.29 5.39 5.12 5.25 -0.04 316979 5.50 4.50 - - - -

Flying Cement Ltd 1760 - 2.03 2.20 2.00 2.11 0.08 66687 2.37 1.75 - - - -

Gharibwal Cement 2319 - 4.00 4.24 3.00 3.04 -0.96 541571 8.64 3.36 - - - -

Haydery Const 32 - 1.03 1.10 1.00 1.05 0.02 6001 2.00 0.85 - - - -

Javedan Cement 581 - 57.11 59.95 59.00 59.00 1.89 1000 71.92 57.01 - 200R - -

Kohat Cement 1288 - 6.20 6.20 6.19 6.20 0.00 25010 7.38 5.70 - - - -

Lafarge Pakistan Cmt. 13126 - 2.92 3.15 2.85 2.89 -0.03 327419 3.53 2.60 - - - -

Lucky Cement 3234 6.44 71.80 72.50 71.10 71.70 -0.10 735247 73.88 61.29 40 - 40 -

Maple Leaf Cement 3723 - 3.19 3.25 3.03 3.15 -0.04 69829 3.84 3.00 - - - -

Pioneer Cement 2228 - 8.03 8.20 7.91 8.10 0.07 4769 8.39 5.60 - - - -

Safe Mix Concrete 200 - 7.95 7.51 7.06 7.18 -0.77 17976 9.47 5.50 - - - -

Shabbir Tiles 361 - 10.75 10.10 10.10 10.10 -0.65 998 12.23 8.10 - - - -

Thatta Cement 798 - 19.25 19.80 19.65 19.65 0.40 3071 21.80 17.74 - - - -

Paid up Last 60 days 2009 2010

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

1,006.58 1,032.35 1,000.82 1,022.93 16.35 1.62

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

32,447 - - 3,596.11 mn 9,757.26 mn 1,022.93

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

3.15 1.04 33.10 30.91 9.81 1,006.58

Crescent Steel XD 565 3.45 24.63 25.60 25.05 25.49 0.86 105 31.73 24.25 - - 30 -

Dost Steels Ltd 675 - 2.23 2.38 2.15 2.20 -0.03 14322 3.22 1.90 - - - -

Huffaz Pipe 555 5.87 13.70 14.70 13.00 14.04 0.34 12389 16.00 13.05 - 30B - -

International IndXDXB 1199 5.09 52.46 52.80 52.00 52.32 -0.14 4626 70.71 48.51 - - 40 20B

Siddiqsons Tin 785 7.00 9.48 9.87 9.10 9.87 0.39 1005 11.35 8.20 10 - - -

Paid up Last 60 days 2009 2010

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

1,198.70 1,222.95 1,178.43 1,213.46 14.76 1.23

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

108,752 - - 1,186.83 mn 3,380.03 mn 1,213.46

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

6.32 0.47 7.47 25.28 4.00 1,198.70

Century Paper 707 - 21.14 21.40 20.60 21.30 0.16 106804 22.70 15.76 - 425R - -

Pak Paper Product 38 6.12 58.50 58.96 57.03 58.86 0.36 1160 60.12 41.21 20 - 2533.33B

Security Paper 411 4.73 39.30 40.47 39.00 40.00 0.70 788 50.40 38.50 50 - 50 -

Paid up Last 60 days 2009 2010

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

1,142.85 1,156.06 1,133.87 1,151.55 8.69 0.76

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

5,840,685 - - 52,251.88 mn 260,568.18 mn 1,151.55

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

7.10 2.49 35.00 48.81 6.87 1,124.26

BOC (Pak) XD 250 9.20 70.19 72.98 68.10 72.28 2.09 63457 83.80 66.90 90 - 15 -

Clariant Pak 273 5.67 160.00 161.50 160.00 161.00 1.00 250 174.00 146.00 125 - - -

Dawood Hercules 1203 8.00 171.08 174.00 172.00 173.51 2.43 223 185.88 155.38 40 10B 20 -

Descon Chemical 1996 - 2.00 2.45 2.02 2.25 0.25 32012 3.15 1.78 - - - -

Descon Oxychem Ltd. 1020 - 4.15 4.20 3.96 4.08 -0.07 11053 5.45 3.20 - - - -

Dewan Salman 3663 - 1.50 1.63 1.49 1.59 0.09 98234 2.21 1.41 - - - -

Dynea Pak 94 4.29 11.50 11.50 11.49 11.50 0.00 67809 13.60 10.85 15 - 15 -

Engro Corp. LtdSPOT 3277 9.17 175.64 179.00 173.72 178.72 3.08 914919 194.59 165.60 6010B 40R 20 -

Engro Polymer 6635 - 12.30 12.50 12.17 12.36 0.06 91127 12.75 9.57 - 27.5R - -

Fatima Fertilizer 22000 - 9.97 10.00 9.52 9.63 -0.34 141870 12.80 9.02 - - - -

Fauji Fertilizer XD 6785 7.21 106.02 106.41 105.25 105.99 -0.03 506125 113.39 102.75 131.5 10B 75 -

Fauji Fert.Bin Qasim XD 9341 7.13 27.68 28.10 27.52 28.01 0.33 371394 30.65 25.70 40 - 5 -

Ghani Gases Ltd 725 - 8.57 8.95 8.40 8.61 0.04 6759 11.45 7.41 - - - -

ICI Pakistan XD 1388 7.40 122.07 124.76 120.50 124.11 2.04 483603 129.30 109.50 80 - 55 -

Lotte Pakistan 15142 2.96 8.56 8.61 8.35 8.52 -0.04 2554018 9.09 6.75 5 - - -

Mandviwala 74 - 1.80 1.99 1.25 1.40 -0.40 987 3.24 1.05 - - - -

Nimir Ind Chemical 1106 75.00 1.37 1.65 1.37 1.50 0.13 632273 1.81 1.16 - - - -

Shaffi Chemical 120 1.23 2.47 2.99 2.50 2.57 0.10 14649 3.80 2.00 - - - -

Sitara Peroxide 551 - 8.71 9.09 8.50 8.97 0.26 23348 11.09 8.22 - - - -

Wah-Noble 90 4.58 44.95 45.45 44.50 44.69 -0.26 350 48.00 41.10 50 - - -

Paid up Last 60 days 2009 2010

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

816.72 830.03 800.15 824.44 7.71 0.94

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

64,172 - - 3,904.20 mn 27,774.15 mn 824.44

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

6.09 1.36 22.31 44.54 7.31 803.26

Abbott (Lab) 979 7.72 84.01 88.21 84.00 88.13 4.12 39957 95.50 77.00 120 - 20 -

Ferozsons (Lab) 208 9.50 109.05 109.50 103.61 109.50 0.45 962 124.00 96.00 10 20B - -

GlaxoSmithKline 1707 12.31 69.15 68.95 67.25 68.17 -0.98 8153 85.89 65.40 50 - - -

Highnoon (Lab) 165 6.58 23.99 24.20 23.80 24.20 0.21 205 25.79 22.10 25 - - -

Searle Pak 306 5.65 61.20 62.00 58.20 61.00 -0.20 14693 61.98 53.36 15 15B - -

Wyeth Pak 142 - 899.35 940.00 940.00 940.00 40.65 200 1159.00 890.00 - - - -

Paid up Last 60 days 2009 2010

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

711.21 714.45 706.37 714.08 2.88 0.40

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

3,644 - - 3,242.17 mn 12,995.82 mn 721.60

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

5.77 1.47 25.53 11.08 1.92 710.66

Pak Int Cont. Terminal XD 1092 8.59 69.36 70.00 69.00 69.99 0.63 3244 87.86 67.62 - 20B 40 -

PNSC 1321 5.25 39.00 38.57 38.50 38.50 -0.50 400 41.74 34.50 30 - 15 -

Paid up Last 60 days 2009 2010

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

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

BOOK CLOSURES

Royal Bank of Scotland 18-Sep 24-Sep - - -Shahpur Textile Mills # 18-Sep 24-Sep - - 24-SepJapan Power Generation 19-Sep 28-Sep - - 28-SepGeneral Tyre & Rubber 20-Sep 29-Sep 20(F) 8-Sep 29-SepPak Oman Adv Fund 20-Sep 27-Sep 1.0377 9-Sep -PICIC Inv Fund 20-Sep 27-Sep 5(F) 10-Sep -Altas Battery 21-Sep 29-Sep 100(F),20(B) 13-Sep 29-SepCentury Paper & Board 21-Sep 27-Sep - - 27-SepOil & Gas Dev Co 21-Sep 30-Sep 15(F) 13-Sep -Pakistan Petroleum 21-Sep 29-Sep 50(F),20(B) 13-Sep 29-SepUnilever Pakistan 21-Sep 27-Sep 178(I) 13-Sep -Universal Insurance # 21-Sep 27-Sep - - 23-SepHusein Sugar Mills # 22-Sep 28-Sep - - 29-SepPakistan State Oil 22-Sep 29-Sep - - -Bank of Punjab 23-Sep 29-Sep - - 30-SepEngro Corp (Consolidated) 23-Sep 30-Sep 20(I) 15-Sep -First Prudential Modaraba 23-Sep 30-Sep - - 30-SepJS Investments 23-Sep 30-Sep - - 30-SepPakistan Hotels Developments 23-Sep 30-Sep - - 30-SepStandard Chartered Modaraba 23-Sep 1-Oct 17 - 21-OctUnilever Pak Foods 23-Sep 29-Sep 350(I) 15-Sep -Indus Motor 24-Sep 30-Sep 100(F) 16-Sep 30-SepIttehad Chemical 24-Sep 30-Sep 5 16-Sep 30-Sep

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

TRG Pakistan Ltd 3.7 3.84 3.55 3.78 0.08 1033470

Murree Brewery 87 87.7 85.5 87.7 0.7 4447

Shezan International 106 102 102 102 -4 297

Pak Tobacco 110.03 108.03 108 108.01 -2.02 500

Shifa Int.Hosp 34.52 34.6 33 33.02 -1.5 4968

Eye Television 22.85 22.73 22.01 22.5 -0.35 174

PIAC (A) 2.16 2.18 2.06 2.11 -0.05 36907

AKD Capital 41.67 43.75 41.12 43.75 2.08 13355

Pace (Pak) Ltd 2.75 2.74 2.6 2.67 -0.08 134254

Netsol Technol 19.18 19.47 18.71 19.19 0.01 302603

Symbols Open High Low Close Change Vol

Saturday, September 18, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 35.83 points at 10,052.97. Volume was 16 per

cent below average and Bollinger Bands were 24 per cent narrower than

normal. As far as resistance level is concern, the market will see major 1st

resistance level at 10,096.15 and 2nd resistance level at 10,139.40, while

Index will continue to find its 1st support level at 9,983.50 and 2nd support

level at 9,914.05.

KSE 100 INDEX is currently 1.8 per cent above its 200-day moving

average and is displaying an upward trend. Volatility is extremely low

when compared to the average volatility over the last 10 trading ses-

sions. Volume indicators reflect volume flowing into and out of INDEX

at a relatively equal pace. Trend forecasting oscillators are currently

bullish on INDEX.

RSI (14-day) 58.54 Support 1 9,983.50

MA (5-day) 10,017.45 Support 2 9,914.05

MA (10-day) 9,889.86 Resistance 1 10,096.15

MA (100-day) 9,913.85 Resistance 2 10,139.40

MA (200-day) 9,875.36 Pivot 10,026.70

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 2.33 at 48.95. Volume was 175 per cent above average

(trending) and Bollinger Bands were 22 per cent narrower than normal.

NML is currently 10.1 per cent below its 200-day moving average and is

displaying an upward trend. Volatility is relatively normal as compared to

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

reflect moderate flows of volume into NML (mildly bullish). Trend forecast-

ing oscillators are currently bullish on NML.

*Arif Habib Ltd 65 Buy

AKD Securities Ltd 61.46 Buy

TFD Research 74.2 Positive

RSI (14-day) 63.59 Free Float Shares (mn) 175.80

MA (10-day) 45.48 Free Float Rs (mn) 8,605.41

MA (100-day) 47.42 ** NOI Rs (mn) 21.51

MA (200-day) 54.47 Mean 47.76

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed up 0.07 at 25.30. Volume was 70 per cent above average

and Bollinger Bands were 32 per cent narrower than normal.

DGKC is currently 8.8 per cent below its 200-day moving average and is

displaying an upward trend. Volatility is relatively normal as compared to

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

reflect volume flowing into and out of DGKC at a relatively equal pace.

Trend forecasting oscillators are currently bullish on DGKC.

*Arif Habib Ltd 44 Buy

AKD Securities Ltd 44.13 Buy

TFD Research 36.85 Positive

RSI (14-day) 48.61 Free Float Shares (mn) 182.55

MA (10-day) 25.74 Free Float Rs (mn) 4,618.51

MA (100-day) 25.25 ** NOI Rs (mn) 22.86

MA (200-day) 27.74 Mean 25.23

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

United Bank Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

UBL closed down -0.44 at 54.51. Volume was 294 per cent above average

(trending) and Bollinger Bands were 42 per cent narrower than normal.

UBL is currently 7.2 per cent below its 200-day moving average and is dis-

playing a downward trend. Volatility is extremely low when compared to the

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

volume flowing into and out of UBL at a relatively equal pace. Trend fore-

casting oscillators are currently bearish on UBL.

*Arif Habib Ltd 77 Buy

AKD Securities Ltd 63 Accumulate

TFD Research 78.44 Positive

RSI (14-day) 46.55 Free Float Shares (mn) 306.04

MA (10-day) 54.42 Free Float Rs (mn) 16,682.51

MA (100-day) 55.26 ** NOI Rs (mn) 0.97

MA (200-day) 58.76 Mean 54.71

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed down -0.36 at 33.50. Volume was 63 per cent above aver-

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

HUBC is currently 0.1 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

to the average volatility over the last 10 trading sessions. Volume indica-

tors reflect volume flowing into and out of HUBC at a relatively equal pace.

Trend forecasting oscillators are currently bearish on HUBC.

*Arif Habib Ltd 48 Buy

AKD Securities Ltd 46 Buy

TFD Research 44.9 Positive

RSI (14-day) 35.66 Free Float Shares (mn) 810.01

MA (10-day) 35.09 Free Float Rs (mn) 27,135.27

MA (100-day) 34.12 ** NOI Rs (mn) 0.68

MA (200-day) 33.52 Mean 33.70

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Pakistan Petroleum Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PPL closed up 0.73 at 211.92. Volume was 103 per cent above average

and Bollinger Bands were 4 per cent wider than normal.

PPL is currently 8.9 per cent above its 200-day moving average and is dis-

playing an upward trend. Volatility is extremely low when compared to the

average volatility over the last 10 trading sessions. Volume indicators

reflect moderate flows of volume into PPL (mildly bullish). Trend forecast-

ing oscillators are currently bullish on PPL.

*Arif Habib Ltd 230 Buy

TFD Research 239.15 Positive

RSI (14-day) 64.29 Free Float Shares (mn) 206.31

MA (10-day) 208.61 Free Float Rs (mn) 43,720.89

MA (100-day) 195.18 ** NOI Rs (mn) 51.27

MA (200-day) 194.64 Mean 211.55

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -0.49 at 66.33. Volume was 39 per cent below average

and Bollinger Bands were 14 per cent narrower than normal.

NBP is currently 1.9 per cent above 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 NBP at a relatively equal pace. Trend forecasting

oscillators are currently bearish on NBP.

*Arif Habib Ltd 78 Buy

AKD Securities Ltd 64.64 Neutral

TFD Research 92.3 Positive

RSI (14-day) 55.74 Free Float Shares (mn) 318.37

MA (10-day) 64.17 Free Float Rs (mn) 21,117.28

MA (100-day) 66.58 ** NOI Rs (mn) 33.29

MA (200-day) 73.14 Mean 66.44

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed up 0.08 at 19.07. Volume was 50 per cent below average (con-

solidating) and Bollinger Bands were 14 per cent narrower than normal.

PTC is currently 2.0 per cent below its 200-day moving average and is dis-

playing 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 PTC at a relatively equal pace. Trend

forecasting oscillators are currently bullish on PTC.

AKD Securities Ltd 24.18 Buy

TFD Research 30.5 Positive

RSI (14-day) 55.96 Free Float Shares (mn) 584.63

MA (10-day) 18.50 Free Float Rs (mn) 11,148.99

MA (100-day) 19.18 ** NOI Rs (mn) 7.97

MA (200-day) 19.46 Mean 18.98

* Target price for Dec-10 & **Net Open Interest in future market

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

995.42 1,011.11 978.87 1,000.53 5.11 0.51

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

666,197 - - 29,771.58 mn 17,265.00 mn 1,000.74

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

6.19 0.25 4.09 104.19 29.60 988.72

1st Fid Leasing 264 - 1.16 1.49 1.21 1.22 0.06 151 2.23 1.01 - - - -

AL-Meezan Mutual F. 1375 2.59 6.75 6.80 6.70 6.70 -0.05 1001 7.25 6.35 - - 18.5 -

B F Modaraba 68 5.07 3.72 3.70 3.70 3.70 -0.02 4176 4.00 3.25 - - - -

Crescent St Modaraba 200 1.81 0.55 0.60 0.41 0.49 -0.06 22208 0.90 0.16 - - - -

Elite Cap Modaraba 113 4.07 2.20 2.89 2.89 2.89 0.69 326 3.59 1.60 4.5 - - -

Equity Modaraba 524 8.77 1.02 1.15 1.02 1.14 0.12 237 1.68 0.76 - - - -

First Dawood Mutual F. 581 - 1.70 1.75 1.69 1.75 0.05 5995 2.09 1.00 - - - -

Golden Arrow 760 1.40 3.08 3.50 3.00 3.41 0.33 353612 3.45 2.32 - - - -

JS Growth Fund 3180 39.38 3.27 3.20 3.15 3.15 -0.12 5006 4.39 2.70 - - 5 -

JS Value Fund 1186 - 2.93 3.39 2.61 3.13 0.20 6004 3.98 2.31 10 - 10 -

Mod Al-Mali 184 - 1.06 1.20 1.19 1.19 0.13 105 1.75 0.56 - - - -

Nat Bank Modaraba 250 7.06 7.30 7.74 7.50 7.62 0.32 1000 8.45 6.10 - - - -

Pak Prem Fund XD 1698 3.47 7.21 7.35 7.20 7.29 0.08 54386 9.86 7.20 - - 18.6 -

Pak Strat Fund 3000 5.08 6.75 6.55 6.40 6.50 -0.25 12000 8.10 6.01 - - 11.53 -

Paramount Mod. XD 59 2.76 7.45 7.50 7.50 7.50 0.05 167 8.68 6.55 15 - - -

PICIC Energy Fund 1000 2.55 4.75 4.84 4.33 4.80 0.05 24014 6.49 4.00 - - 5 -

PICIC Growth Fund 2835 2.37 8.65 8.74 8.35 8.64 -0.01 98246 10.55 7.60 - - 20 -

PICIC Inv Fund XD 2841 2.01 3.63 3.99 3.70 3.97 0.34 29734 5.00 3.50 - - 10 -

Prud Modaraba 1stSPOT 872 2.89 1.06 1.20 1.10 1.10 0.04 10003 1.20 0.70 - - 3 -

Stand Chart Mod. SPOT 454 5.75 10.10 10.29 10.00 10.12 0.02 37600 10.99 8.25 16.5 - 17 -

Paid up Last 60 days 2009 2010

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

373.30 381.98 365.09 376.60 3.30 0.88

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

5,695,803 - - 30,336.44 mn 27,577.63 mn 378.34

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

0.46 0.17 37.22 4.60 10.03 358.99

AMZ Ventures 225 - 0.66 0.79 0.64 0.72 0.06 16240 1.19 0.55 - - - -

Arif Habib Inv. XB 360 7.14 15.20 15.95 15.00 15.29 0.09 6575 20.99 14.26 - - - 20B

Arif Habib Limited 375 8.29 32.56 33.45 32.05 33.23 0.67 71020 50.12 26.80 15 25B - 20B

Arif Habib Securities 3750 2.29 22.22 23.33 22.20 23.20 0.98 2663539 35.65 21.76 - - 30 -

First Credit & Invest Bank Ltd 650 7.57 3.00 2.66 2.61 2.65 -0.35 1500 3.98 1.57 - - - -

Invest and Fin Sec 600 2.58 7.13 8.12 7.16 7.40 0.27 3110 8.50 6.80 - - 11.5 -

Invest Bank 2849 - 0.73 1.00 0.60 0.76 0.03 461 1.23 0.50 - - - -

Ist Cap Securities 2878 - 4.01 4.00 3.81 4.00 -0.01 541 5.90 3.10 - 10B - -

Jah Siddiq Co 7633 15.29 10.64 10.64 10.37 10.55 -0.09 2629105 15.47 9.36 -243.778B 10 -

JOV and CO 508 - 3.36 3.36 3.21 3.27 -0.09 207144 6.48 3.00 - - - -

JS Global Cap 500 - 38.37 40.00 36.50 38.01 -0.36 23311 42.40 33.33 150 - - -

JS Investment 1000 13.49 6.18 6.15 6.00 6.07 -0.11 27670 8.65 5.40 - - - -

KASB Securities 1000 - 4.00 3.99 3.61 3.90 -0.10 14420 5.49 3.20 - - - -

Orix Leasing 821 - 5.45 5.90 5.15 5.50 0.05 1957 5.99 3.66 - - - -

Pervez Ahmed Sec 775 - 1.71 1.73 1.66 1.67 -0.04 18548 2.89 1.35 -231.08R - -

Stand Chart Leasing 978 5.61 2.48 2.94 2.47 2.47 -0.01 2013 3.89 1.41 - - - -

Trust Inv Bank 586 - 2.50 2.50 2.50 2.50 0.00 10000 4.25 1.25 - - - -

Paid up Last 60 days 2009 2010

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

826.03 852.16 798.95 837.95 11.92 1.44

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

2,432 - - 2,290.72 mn 8,875.15 mn 837.95

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

73.04 2.81 3.85 355.53 4.87 793.57

EFU Life Assurance XB 850 32.27 58.90 61.84 58.50 59.38 0.48 2322 85.45 51.25 5513.33B - -

New Jub Life Insurance 627 54.33 42.66 43.75 40.60 43.46 0.80 110 46.00 34.50 10 - - -

Paid up Last 60 days 2009 2010

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

964.21 972.32 948.55 962.94 -1.27 -0.13

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

8,223,356 - - 257,548.02 mn 593,325.03 mn 965.55

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

6.89 0.93 13.45 34.35 4.99 929.93

Allied Bank Limited 7821 5.67 52.00 52.50 51.11 52.50 0.50 45173 59.70 48.51 40 10B 20 -

Askari Bank 6427 6.18 14.78 15.20 14.42 14.95 0.17 398778 17.46 13.99 - 20B - -

Atlas Bank 5001 - 1.91 1.99 1.78 1.99 0.08 276 3.00 1.52 - - - -

Bank Alfalah 13492 10.93 8.26 8.24 8.15 8.20 -0.06 269732 10.25 7.32 8 - - -

Bank AL-Habib 7322 6.58 30.30 31.00 30.10 30.53 0.23 62198 34.00 29.10 20 20B - -

Bank Of Khyber 5004 3.31 3.17 3.34 3.31 3.31 0.14 440 4.75 3.00 - - - -

Bank Of Punjab 5288 - 8.78 8.88 8.55 8.74 -0.04 589838 11.35 7.35 - - - -

BankIslami Pak 5280 - 2.98 3.28 3.00 3.14 0.16 6412 3.90 2.31 - - - -

Faysal Bank 6091 3.24 14.26 14.34 13.80 14.04 -0.22 30210 15.95 12.75 - - - -

Habib Bank Ltd 10019 6.29 98.29 98.85 97.01 97.69 -0.60 83426 109.10 92.00 60 10B - -

Habib Metropolitan Bank 8732 5.92 20.00 20.00 19.66 20.00 0.00 10811 24.25 18.70 10 16B - -

JS Bank Ltd 6128 - 2.14 2.11 2.03 2.11 -0.03 32924 3.00 2.00 - - - 66R

KASB Bank Ltd 9509 - 2.31 2.55 2.30 2.40 0.09 5512 4.40 2.03 - 26B - -

MCB Bank Ltd XD 7602 9.01 193.07 193.50 190.60 193.21 0.14 1036852 214.99 180.40 110 10B 55 -

Meezan Bank 6983 7.26 14.45 14.99 14.50 14.95 0.50 8540 16.50 13.80 - 5B - -

Mybank Ltd 5304 - 2.26 2.25 2.13 2.15 -0.11 173520 3.28 1.62 - - - -

National Bank 13455 5.57 66.82 66.70 65.92 66.33 -0.49 1320449 73.89 60.51 75 25B - -

NIB Bank 40437 - 2.75 2.84 2.56 2.76 0.01 425102 3.50 2.42 - - - -

Royal Bank Ltd 17180 - 6.68 6.70 6.10 6.55 -0.13 5103 13.71 5.65 - - - -

Samba Bank 14335 - 1.96 2.09 1.81 1.90 -0.06 27530 2.90 1.55 - - -63.46R

Silkbank Ltd 9003 12.18 2.70 2.75 2.51 2.68 -0.02 651917 3.30 2.15 - - - -

Soneri Bank 6023 - 5.87 6.35 5.70 5.80 -0.07 6022 8.50 5.46 - - - -

Stand Chart Bank 38716 9.51 6.85 7.19 6.50 6.66 -0.19 705 8.50 6.05 - - - -

Summit Bank Ltd 5000 - 2.85 2.85 2.65 2.75 -0.10 6612 4.38 2.40 - - - -

United Bank Ltd 12242 6.41 54.95 55.39 54.00 54.51 -0.44 3031886 60.20 52.85 25 10B 10 -

Paid up Last 60 days 2009 2010

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

635.90 650.34 628.05 640.39 4.48 0.70

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

496,086 - - 11,111.34 mn 41,350.12 mn 640.39

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

10.28 0.53 5.20 79.54 7.74 617.40

Adamjee Insurance 1237 12.76 69.33 70.85 68.20 70.17 0.84 230072 89.90 64.00 30 10B 10 -

Atlas Insurance 369 4.35 29.21 30.50 29.51 29.51 0.30 3003 31.00 27.10 40 10B - -

EFU General Insurance XB1250 30.37 37.68 39.45 37.20 38.27 0.59 29122 55.20 35.52 40 8.7B - -

IGI Insurance XD 718 12.72 72.49 72.99 71.00 72.00 -0.49 92935 79.10 66.02 35 - 10 20B

New Jub Insurance 791 9.17 54.03 55.19 53.00 53.73 -0.30 1643 62.50 52.21 30 20B - -

Pak Reinsurance 3000 - 14.56 14.57 14.30 14.44 -0.12 110167 19.40 12.50 30 - - -

Silver Star Insurance 253 1.69 7.23 8.00 6.51 6.81 -0.42 1780 10.00 6.00 - 20B - -

Universal Insurance 210 - 3.00 4.00 3.00 3.70 0.70 27220 3.75 1.77 - - - -

Paid up Last 60 days 2009 2010

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

1,330.42 1,375.54 1,306.02 1,372.22 41.80 3.14

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

1,761,240 - - 12,202.80 mn 31,034.02 mn 1,372.22

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

9.98 1.14 11.41 66.79 6.69 1,324.11

Sui North Gas 5491 17.02 28.75 29.10 28.05 28.93 0.18 482858 30.00 25.00 - - - -Sui South Gas 6712 - 21.50 22.57 21.20 22.57 1.07 1278382 22.00 15.57 - - - -

Paid up Last 60 days 2009 2010

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

1,160.74 1,167.56 1,141.18 1,150.69 -10.06 -0.87

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

12,310,289 - - 95,369.29 mn 97,302.55 mn 1,173.71

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

13.06 1.22 9.35 104.13 7.97 1,150.69

Altern Energy 3426 575.00 11.00 11.88 10.25 11.50 0.50 10102 12.50 7.51 - - - -

Genertech 198 - 0.94 1.37 0.70 0.94 0.00 3519 1.53 0.51 - - - -

Hub Power XD 11572 6.20 33.86 34.00 33.45 33.50 -0.36 2739119 37.24 31.50 33.5 - 50 -

Japan Power 1560 - 1.64 1.95 1.32 1.65 0.01 1015 2.38 0.70 - - - -

KESC 7932 - 2.11 2.07 2.05 2.05 -0.06 30003 2.63 1.92 - 31R - 7.8R

Kohinoor Energy 1695 4.66 24.10 24.75 23.00 23.97 -0.13 253471 27.80 23.30 45 - - -

Kot Addu Power 8803 7.25 42.50 42.20 41.71 41.92 -0.58 112484 44.85 39.51 64.5 - 50 -

Nishat Chunian Power Ltd 3673 - 10.45 10.65 10.50 10.51 0.06 1492010 10.56 8.60 - - - -

Nishat Power Ltd 3541 78.29 10.55 11.05 10.65 10.96 0.41 7667396 11.05 9.25 - - - -

Sitara Energy Ltd 191 3.69 22.24 22.00 21.50 22.00 -0.24 1101 23.48 20.00 20 - - -

Southern Electric 1367 1.37 2.60 2.89 2.25 2.85 0.25 148437 3.69 2.21 - - - -

Paid up Last 60 days 2009 2010

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

1,108.76 1,121.75 1,087.26 1,110.71 1.94 0.18

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

1,296,920 - - 50,077.79 mn 78,267.92 mn 1,129.18

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

6.02 0.77 12.84 62.56 10.39 1,074.04

Pakistan Telecomm Co A 37740 9.08 18.99 19.20 18.66 19.07 0.08 1145512 20.22 17.20 15 - 17.5 -

Telecard 3000 - 2.28 2.39 2.14 2.25 -0.03 3247 3.18 2.06 - - - -

WorldCall Tele 8606 - 2.54 2.55 2.46 2.48 -0.06 148151 3.39 2.30 - - - -

Wateen Telecom Ltd 6175 - 4.25 4.39 4.02 4.19 -0.06 305736 6.75 3.80 - - - -

Paid up Last 60 days 2009 2010

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

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

UPTO 100 VOLUME

NBF 3.25 3.42 3 3.42 0.17 100

DCM 1.09 1.04 1.04 1.04 -0.05 100

CENI 10.8 11.35 11 11 0.2 100

KOSM 0.99 0.99 0.99 0.99 0 100

QUET 36.37 34.56 34.56 34.56 -1.81 100

BUXL 13.93 12.93 12.93 12.93 -1 100

SIEM 1131.83 1110 1103 1106.34 -25.49 86

GATI 44.05 44 42 44 -0.05 79

KOHP 5.75 5.5 5.5 5.5 -0.25 69

FHAM 6 6 6 6 0 60

LAKST 199.99 209.97 191 200.09 0.1 54

ARM 15 15 15 15 0 50

AGSML 6.25 6.99 6.95 6.95 0.7 50

DLL 43 44.5 43 43.52 0.52 34

AGTL 213.99 214.9 211 212.93 -1.06 32

FZTM 354.14 368 336.5 361.32 7.18 27

IGIBL 1.79 1.84 1.84 1.84 0.05 25

CICL 51.03 53 51 51.6 0.57 24

MFFL 72.85 73.14 69.21 69.42 -3.43 21

PCAL 52 53.9 53.8 53.85 1.85 20

CLOV 35.17 36.9 36.9 36.9 1.73 20

BAPL 11.89 12.89 10.89 12 0.11 18

GAMON 1.94 2.9 0.98 2.05 0.11 18

FNEL 10.75 11.75 9.75 11.75 1 14

CJPL 1.03 1.24 0.75 1.01 -0.02 14

SGMLPS 5.5 6.5 4.52 4.52 -0.98 14

PINL 9.49 9.88 9 9.37 -0.12 13

DIIL 17.09 17.85 17 17.5 0.41 13

CWSM 1.2 2.2 0.8 1.01 -0.19 12

HUSI 9.5 9.9 9.9 9.9 0.4 11

SALT 23.9 24.75 24.75 24.75 0.85 10

TATM 18.28 19.25 19.25 19.25 0.97 10

TOWL 19 20 20 20 1 10

SANSM 14 14 14 14 0 10

EXIDE 139.55 146.51 146.51 146.51 6.96 10

PAKD 114.98 114.99 114.9 114.95 -0.03 10

RMPL 1474 1474 1474 1474 0 9

FDIBL 1.65 1.65 1.65 1.65 0 8

MZSM 4.8 5.2 5.2 5.2 0.4 8

FCONM 1.79 2.34 2.34 2.34 0.55 5

FPJM 1.31 1.64 1.64 1.64 0.33 5

AGIC 9.55 10.5 10.5 10.5 0.95 5

BROT 0.6 1 0.3 0.58 -0.02 5

DATM 0.7 0.9 0.32 0.44 -0.26 5

PRWM 19.8 20.4 20 20 0.2 5

MSOT 20.35 21.34 21.34 21.34 0.99 5

LPGL 10 10 10 10 0 5

DSIL 1.66 1.7 1.61 1.67 0.01 4

ZIL 37.38 38.8 38.8 38.8 1.42 4

TSMF 1.65 2.35 1.5 1.89 0.24 3

BILF 0.55 1.2 0.55 0.87 0.32 3

JDMT 10.95 11.95 9.95 11.95 1 3

UPFL 1020 1020 1020 1020 0 3

MACFL 2.94 3.25 2.7 2.98 0.04 3

BRR 1.19 1.32 1.2 1.2 0.01 2

DEL 2.31 2.6 2.05 2.05 -0.26 2

DINT 28.75 29.9 29.23 29.9 1.15 2

SMTM 6.47 7.2 7.2 7.2 0.73 2

GFIL 1.13 2.13 1.51 1.51 0.38 2

KML 2.35 3.27 2.16 2.72 0.37 2

AABS 93 95 94.5 94.5 1.5 2

TSML 32.9 33.9 33.9 33.9 1 2

MLCFPS 7.07 7.49 7.48 7.48 0.41 2

BIFO 32.98 32 32 32 -0.98 2

KASBM 1.36 2 2 2 0.64 1

CSIL 5.7 6.48 6.48 6.48 0.78 1

PIL 2.19 3.19 3.19 3.19 1 1

IDSM 4 3.98 3.98 3.98 -0.02 1

IDYM 234.39 245.5 245.5 245.5 11.11 1

KSTM 0.8 0.85 0.85 0.85 0.05 1

SRSM 1.49 1.6 1.6 1.6 0.11 1

STJT 17.15 17.8 17.8 17.8 0.65 1

NCLNCP 20 20.5 20.5 20.5 0.5 1

MFTM 1.05 1.4 1.4 1.4 0.35 1

MUBT 1.21 1.45 1.45 1.45 0.24 1

AGL 23.46 23.99 23.99 23.99 0.53 1

RUPL 31.85 33.25 33.25 33.25 1.4 1

TRPOL 0.51 0.51 0.51 0.51 0 1

BAFS 51.44 54 54 54 2.56 1

FRSM 16.9 16.01 16.01 16.01 -0.89 1

PMRS 37.37 38.2 38.2 38.2 0.83 1

ADOS 19.9 20.9 20.9 20.9 1 1

PSMC 77.5 77.89 77.89 77.89 0.39 1

JOPP 7.18 8.18 8.18 8.18 1 1

PIAB 9.78 9.78 9.78 9.78 0 1

OTSU 29.62 30.9 30.9 30.9 1.28 1

SITC 120.5 123.1 123.1 123.1 2.6 1

BATA 490 490 490 490 0 1

IBLHL 7.48 7.97 7.97 7.97 0.49 1

GRAYS 61.9 63.4 63.4 63.4 1.5 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

DGKC-SEP 25.23 25.6 24.85 25.32 0.09 658500

NML-SEP 46.69 49.02 46.56 49.02 2.33 552000

NBP-SEP 66.84 66.89 66 66.5 -0.34 144000

PPL-SEP 172.14 173.5 169 172.91 0.77 143500

PSO-SEP 257.52 263 255.5 262.04 4.52 128500

MCB-SEP 193.15 193.65 190.6 193.36 0.21 124000

POL-SEP 235.28 238.19 234 237.83 2.55 119500

ENGRO-SEP 173.97 176.5 172.5 176.05 2.08 111000

ANL-SEP 10.7 10.8 10.5 10.55 -0.15 106500

AICL-SEP 69.34 70.99 69 70.34 1 35000

FFC-SEP 105.75 105.75 105.75 105.75 0 30000

LUCK-SEP 71.24 71.55 71.34 71.5 0.26 21500

PTC-SEP 19 19.05 18.9 19.05 0.05 15000

OGDC-SEP 144.63 145.75 144.1 145.47 0.84 6500

Symbols Open High Low Close Change Vol

ZERO VOLUME

ESBL 2.82 2.79 2.79 2.79 -0.03 0

RICL 6.62 6.5 6.5 6.5 -0.12 0

PPVC 2.73 2.52 2.52 2.52 -0.21 0

Symbols Open High Low Close Change Vol

Adamjee Insurance 44.41 68.65 67.10 71.30 72.40 69.75

Al-Abbas Cement 51.06 3.55 3.45 3.70 3.75 3.60

Allied Bank Limited 49.97 51.60 50.65 52.95 53.45 52.05

Arif Habib Limited 52.75 32.35 31.50 33.75 34.30 32.90

Arif Habib Securities 38.19 22.50 21.80 23.60 24.05 22.90

Askari Bank 53.44 14.50 14.10 15.30 15.65 14.85

Attock Cement 56.37 68.15 67.85 68.65 68.85 68.35

Attock Petroleum 65.14 321.40 317.60 327.65 330.10 323.85

Attock Refinery 58.59 82.15 78.80 87.25 88.95 83.85

Azgard Nine 53.48 10.35 10.20 10.75 10.95 10.60

Bank Alfalah 44.78 8.15 8.10 8.25 8.30 8.20

Bank Of Punjab 56.66 8.55 8.40 8.90 9.05 8.70

BankIslami Pak 53.03 3.00 2.85 3.30 3.40 3.15

D.G.K.Cement 48.61 24.85 24.45 25.65 26.00 25.25

Dewan Cement 43.53 1.45 1.40 1.55 1.60 1.50

Dewan Salman 52.00 1.50 1.45 1.65 1.70 1.55

Dost Steels Ltd 47.62 2.10 2.00 2.35 2.45 2.25

EFU General Insurance 33.12 37.15 36.05 39.40 40.55 38.30

EFU Life Assurance 38.74 58.00 56.55 61.30 63.25 59.90

Engro Chemical 55.29 175.30 171.85 180.60 182.45 177.15

Fauji Cement 57.50 5.10 5.00 5.40 5.50 5.25

Fauji Fert Bin 47.70 27.65 27.30 28.25 28.45 27.90

Fauji Fertilizer 49.87 105.35 104.70 106.50 107.05 105.90

Faysal Bank 53.29 13.80 13.50 14.30 14.60 14.05

Habib Bank Ltd 49.22 96.85 96.00 98.70 99.70 97.85

Hub Power 35.66 33.30 33.10 33.85 34.20 33.65

ICI Pakistan 59.86 121.50 118.85 125.75 127.40 123.10

Indus Motors 44.56 226.85 224.70 230.30 231.60 228.15

JOV and CO 33.14 3.20 3.15 3.35 3.45 3.30

Jah Siddiq Co 44.21 10.40 10.25 10.65 10.80 10.50

Japan Power 53.24 1.35 1.00 1.95 2.25 1.65

JS Bank Ltd 39.55 2.05 2.00 2.15 2.20 2.10

KESC 44.53 2.00 1.95 2.10 2.15 2.05

Kot Addu Power 52.56 41.70 41.45 42.15 42.45 41.95

Lucky Cement 62.22 71.05 70.35 72.45 73.15 71.75

Maple Leaf Cement 46.59 3.05 2.90 3.25 3.35 3.15

MCB Bank Ltd 52.77 191.40 189.55 194.30 195.35 192.45

National Bank 55.74 65.95 65.55 66.70 67.10 66.30

Netsol Technologies 39.99 18.75 18.35 19.55 19.90 19.10

NIB Bank 50.14 2.60 2.45 2.90 3.00 2.70

Nimir Ind.Chemical 52.80 1.35 1.25 1.65 1.80 1.50

Nishat (Chunian) 56.59 16.60 16.00 17.50 17.90 16.95

Nishat Mills 63.59 47.35 45.70 49.75 50.60 48.15

Oil & Gas Dev. XD 59.86 145.75 144.55 147.95 148.90 146.75

PIAC (A) 40.21 2.05 2.00 2.20 2.25 2.10

PSO XD 61.00 264.00 259.35 271.40 274.15 266.75

PTCLA 55.96 18.75 18.45 19.30 19.50 19.00

PACE (Pakistan) Ltd. 45.37 2.60 2.55 2.75 2.80 2.65

Pak Oilfields 70.06 234.70 231.55 239.75 241.60 236.55

Pak Petroleum 64.29 209.25 206.55 214.35 216.75 211.65

Pak Suzuki 47.71 77.40 77.35 78.35 78.40 77.90

Pervez Ahmed Sec 42.84 1.65 1.60 1.75 1.80 1.70

Pioneer Cement 60.75 7.95 7.80 8.25 8.35 8.05

Shell Pakistan 36.05 191.00 187.00 198.00 201.00 194.00

Sitara Peroxide 51.20 8.60 8.25 9.20 9.45 8.85

Sui North Gas 62.95 28.30 27.65 29.35 29.75 28.70

Sui South Gas 73.31 21.65 20.75 23.00 23.50 22.10

Telecard 44.51 2.15 2.00 2.40 2.50 2.25

TRG Pakistan 58.60 3.60 3.45 3.90 4.00 3.70

United Bank Ltd 46.55 53.85 53.25 55.25 56.00 54.65

WorldCall Tele 43.39 2.45 2.40 2.55 2.60 2.50

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Golden Arrow Selected Stocks Ltd 18-Sep 11:30

Attock Petroleum Ltd 20-Sep 12:00

First Al-Noor Modaraba 20-Sep 4:00

First Capital Mutual Fund 20-Sep 9:00

Ghani Glass Ltd 20-Sep 11:00

Island Textile Mills Ltd 20-Sep 11:15

Salfi Textile Mills Ltd 20-Sep 10:15

Tata Textile Mills Ltd 20-Sep 12:15

Orix Leasing Pakistan Ltd 22-Sep 10:00

Rupali Polyester Ltd 22-Sep 11:00

Shield Corporation Ltd 22-Sep 11:00

Mari Gas Company Ltd 23-Sep 10:00

Shabbir Tiles & Ceramics Ltd 23-Sep 10:00

Fauji Cement Co Ltd 24-Sep 10:00

Sitara Chemical Industries Ltd 24-Sep 4:00

Pakistan Oilfields Ltd 30-Sep 12:00

(TFC) Saudi Pak Leasing Co Ltd 4-Oct 11:30

Towellers Ltd 4-Oct 11:30

BOARD MEETINGS

Company Date Time

Saturday, September 18, 2010 8

Arjunrocks

for hisdaughters

Inspired by his stint onstage doing ElvisPresley's 'Jailhouse Rock'

in his new film, not to men-tion his role as a potentialrock star in Rock On and gal-vanised by his daughters'enthusiasm for Arjun's liveperformances, the Rampaldude now plans to go onstage for a rock concert,hopefully with his Rock Onteam, if not then alone.

Says Arjun, "I do have acraving to go live. And afterRock On I can play the guitar.My fan following as a rockstar has already started. Mytwo daughters love me per-forming on the dining table. "

Arjun Rampal couldn't bein a happier place. And wemean on top of his diningtable in his livingroom whereyou will often find Arjunthese days on his two daugh-ters' demands. His daughterswant him to perform'Jailhouse Rock' for them.And he happily obliges.

"My parents were hugeElvis Presley fans. I grew upon Presley. So when I got achance to dance to 'JailhouseRock' in my latest film Ijumped at it, " says Arjun.

Happily, so did Arjun'sdaughter. They now wantArjun to perform 'JailhouseRock' any time of the day.And wife Mehr is worried thedining table might give way.

Chortles Arjun, "Not toworry. It's a sturdy table. It'snot going anywhere. I pickedup a lot of my emotions in WeAre Family from the way Ibehave with my daughters.

Having your dream homedecor is the wish ofeach one of us, and

most of us decide that it is onlypossible if we design our homeaccording to our taste with thehelp of an architect. But is thisthe only possible solution?And is it always possible tobuild a house. Many times wehave either a rented house or ahouse build by someone elsewithout some bits matchingour taste and others completingstanding out.

This section is explicitlyabout these small hindrancesthat come in our way. If youare stuck with odd nooks andcorners in your home thenthese decorating tips is just theanswer you require. Whether itis the empty space below astaircase or that unnecessaryand protruding pillar in the liv-ing room, the solutions areright here. Read on and makethe best use of these unusedplaces in your home.

CorridorsDecorating corridors is more

or less the problem of everyhousehold. The long emptypassage way always seems togive us a boring feeling. But

just on the contrary, corridorsare a very useful space in yourhouse.

So let’s see how to transformthese corridors to somethingattractive and fun.

The first thing one needs toremember when working oncorridors is; this is one place ofyour house that is alive andactive. People are always mov-ing in and out of your corri-dors. So give your corridors apicture gallery look. You can

put paintings, family photo-graphs and murals as walldecor. Add lamps at little dis-tances to give a soft and dra-matic look to your corridors.

If you find this decorating tipnot so appealing then howabout adding some artifactsand flower arrangements com-plete with soft yellow lighting.If your corridor is wideenough, one can even go for abookshelf. To complete thefeel, put some heavy drapes at

the end of the corridor. This isgive depth to your decoration.

StaircasesStaircases are always a prob-

lem. Most of the times, thespace below the staircases areturned into a storage area giv-ing a shabby appearance toyour decor. If you reallyrequire a storage space, build asliding cabinet with racks tostore your brooms and shoes.This will give your space aneater look and at the sametime give you adequate spaceto keep your stuff.

If space is not a problem,then do something more cre-ative with that empty space.You can put a wallpaper ofscenery to give a feeling ofdepth. Go for some dim light-ing, according to the theme ofyour wallpaper.

One can also create a recre-ation corner below the stair-case. Throw in some cushions,proper lighting and a pottedplant or two and build a worldof its own. If there is space,then put a small coffee tableand chair and snuggle up witha book. Beanbags are also agreat way to go for making atrend statement.

Renewing the Nooks

Shaji N Karun's KuttySrank dominated theNational Film Awards,

winning five categories,including the top honour ofbeing the best feature film of2009.

The best actor trophy went toAmitabh Bachhan for his por-trayal of a child suffering fromprogeria in Paa and AamirKhan-starrer 3 Idiots wasdeclared the most popular film.

Kutty Srank's productionteam won laurels as AnjuliShukla, who shot the film, wasdeclared the best cinematogra-pher.

She is perhaps the firstwoman cinematographer towin a national award.

P F Mathews and Harikrishnawon the best screenplay awardand Jayakumar was adjudgedthe best costume designer forthe movie. The film's editorSreekar Prasad -- who alsoedited Kerala Varma PazhassiRaja and Hindi film Kaminey -- got special jury award.

The best actress award wentto Ananya Chatterjee for herrole in the film Abohoman,which also fetched best direc-tor award for Rituparno Ghosh.The film won the award forbest editing as well.

Bollywood's blockbuster 3Idiots was chosen to be the bestpopular film, providing whole-some entertainment and Delhi6 got the Nargis Dutt award forbest feature film on nationalintegration.

Kannada film Putaani Party,directed by Ramchandra P N,shared the award for being thebest children's film with Keshuin Malayalam.

Old ‘Big B’ bagsbest actor award

Bollywood superstarShah Rukh Khan is thenumber one tax payer

from Bollywood for the secondquarter of financial year 2011by paying up Rs 5 crore to theIT department as against theRs3.5 crore paid in the samequarter last year, reports a TVchannel.

Shah Rukh has replacedBollywood action hero AkshayKumar who managed to comea close second having paidRs4.5 crore in Q2 of FY11 aswell. He had paid Rs 4.5 crorein Q2 of FY10.

The two (Kumar and Khan)are followed by Aamir Khanwho shelled out Rs 4 crore astax versus Rs 3.5 crore paid inthe same quarter last year.

The fourth spot was sharedby bollywood actors Saif AliKhan and Ranbir Kapoor whopaid Rs 2.5 crore each as tax inthe second quarter of FY11.

However, the very actorSalman Khan paid only Rs2 crorecompared to the Rs 2.5 crore inthe same quarter last year.

When it came to the actress-es, bollywood beauty KatrinaKaif shelled out Rs 1.3 crore

versus Rs 1 crore paid in Q2FY10 and tough competitor

Kareena Kapoor paid Rs 1crore as tax as against Rs 80lakh paid same quarter lastyear.

Hritik Roshan paid a meagerRs 50 lakh as against the Rs 3crore paid in second quarter ofFY10 and Arbaaz Khan spentRs 10 lakh as against Rs 50lakh last year. While directorSanjay Leela Bansali spent Rs50 lakh on tax in the secondquarter as against Rs 25 lakhpaid last year, VishalBharadwaj gave Rs 25 lakhversus Rs 15 lakh to the ITdepartment.

Bollywood’s2Q tax-king

Jacksons’smom sueshis concertpromoters

Late pop icon MichaelJackson's mother hasfiled suit against pro-

motors of a concert series hewas supposed to give inLondon in 2009, claimingthey shared the blame for hisdeath during rehearsals.

Katherine Jackson filed thesuit in Los Angeles SuperiorCourt in her name and thoseof the singer's three children.The suit is for an unspecifiedamount in damages.

She charged that the AEGgroup did not give her sonappropriate medical careduring rehearsals for theshows, and alleged negli-gence in allowing Dr.Conrad Murray to careexclusively for her son.

A Los Angeles judge hasset a January 2011 hearing toweigh whether there is suffi-cient evidence to prosecuteMurray for involuntarymanslaughter over thesinger's death.

The 57-year-old doctor,who was with Jackson whenhe died June 25, 2009, wascharged with involuntarymanslaughter in Februarythis year, but is free on a75,000 dollar bond.

Officials have ruled thatJackson died after beinginjected with a powerfulcocktail of sedatives andpainkillers, including propo-fol, which the singer regular-ly requested from Murray tohelp him sleep.

Jackson's death sent shock-waves around the world, andfamily and fans were out-raged to learn that the mandubbed the King of Pop wasadministered a dangerousmix of powerful prescriptiondrugs in the hours before hisdeath.

Murray, who was born inGrenada and grew up inTrinidad before moving tothe United States, has deniedthe charges against him,which were filed after apainstaking seven-monthprobe involving local andfederal investigators.

MUMBAI: Indian Bollywood film actress Bipasha Basuposes at the Audi India show room in Mumbai.-Reuters

TORONTO: Bollywood iconAamir Khan was "nervous"about his wife Kiran Rao'sdirecting debut and shocked byher initial refusal to cast him in"Dhobi Ghat (MumbaiDiaries)," he said at its worldpremiere in Toronto.

The film features Khan asbrooding painter Arun whostrikes up a flirtation with anAmerican Indian womannamed Shai (Monica Dogra)visiting her family in Mumbaiwith the city's sprawling laun-dry district, or dhobi ghat, asthe backdrop.

"When (Rao) told me shewas writing a script I was verynervous," Khan said, "becauseI was thinking one of thesedays this script is going to becompleted and I'll have to readit and what if I don't like it, itwon't be a very comfortablesituation."

"I was feeling bad," he said."I thought, I hope she doesn'tcomplete the script."

When it was finished, Khanpressed Rao to go visit hiscousin and they would all readit together, hoping that if bothhe and his cousin disliked it "atleast I'd have numbers on myside. "I was really quite terri-fied."

But after reading it, Khansaid he became "fascinated bywhat she had written."

"It's so delicate and beauti-ful," he said. "Her charactersspeak in such a different andunique voice, and all of that hitme and I thought, 'Wow I mar-ried a really talented womenhere.'"

"When I fell in love the firsttime, I didn't know how reallytalented she was. When I readthe script I was really amazedand I fell in love with heragain," he gushed.

Then, when Rao refused tocast him -- shock. Raoexplained that she did not wantto work with known actors."She didn't want me in thefilm. I was most upset," Khanquipped.

Of course, she would laterrelent, saying he "tricked" herinto it with his "diabolical andMachiavellian" cunning andcharms.

"Actually, this character is socrabby and unpleasant and onemorning she saw me in myusual crabby self, and she said,'You know you're perfect forthe role,'" Khan said.

And so how was it to bedirected by his wife? "I felt likeI was at home," Khan quipped.

"They're just the cutesttogether," commented PrateikBabbar, who earned a standingovation at the premiere for hisperformance as Zohaib, a laun-dry man shared by Arun andShai. The film is among ahandful of Indian films screen-ing at the Toronto film festivalthis year, as in years past.

Its release comes just asCanada launches audiovisualco-production negotiationswith India, hoping to boost its

film sector.Canada's Heritage Minister

James Moore said last weekthat co-productions attract for-eign investment and rake in 30per cent more at the Canadianbox office.

Khan noted, however, thatrecognition at an internationalfilm festival does not help withdistribution back home inIndia, only with foreign distri-bution.

Receiving an audience awardat the Toronto film festival orthe Palme d'Or at Cannes, forexample, is a "sure, sure wayof telling (Indian) audiencesnot to go to a film," he said.

Looks like another master-piece has been created byAamir Khan.

At the Toronto InternationalFilm Festival, the premier ofhis production and his wifeKiran Rao's directorial debut'Dhobi Ghaat' was showeredwith amazing response. It isreported that the internationalaudience welcomed the filmwith open hands.

Thrilled over it, Aamir quot-ed in his blog, "Thank you toall of you who came to thescreening and for giving such awarm welcome to the DhobiGhat team. Thank you so muchguys it was most overwhelm-ing. We are having a great timeat TIFF. And we are all mostrelieved that people seem to beliking the film."

'Dhobi Ghaat' was screenedrecently at the Elgin GardenTheatres, Toronto. It starsAamir along with PratikBabbar, Monica Dogra andKriti Malhotra.

Kiran Rao earlier hadworked as an assistant to direc-tor Ashutosh Gowariker. It wason the sets of 'Lagaan' thatAamir met her. -Agencies

‘Dhobi Ghat’ comesout in good wash

Aamirs new venture makes waves in Toronto

MUMBAI: Indian Bollywood

actress Sushmita Sen poses in

a creation by designer

Vikram Phadnis during a

fashion show in Mumbai.

LONDON: Copper held firmon Friday after hitting a 4-1/2month high, as reassuring com-ments from China's centralbank on monetary policy andfalling inventories boostedprices of industrial metals.

Benchmark copper on theLondon Metal Exchange endedat $7,720 a tonne from $7,700at the close on Thursday. Themetal used in power and con-struction earlier hit $7,810, itshighest level since April 26.

The People's Bank of Chinawarned of mounting bad debtas the country's structuralreforms accelerate.

But it reaffirmed its appro-priately loose monetary policystance and said it would deployvarious fiscal and monetarytools to manage inflationaryexpectations.

"Pretty impressive rise," saidDavid Wilson, director of met-als research at SocieteGenerale, adding that theChinese central bankannouncement's had beentaken as good news.

"If there is not tightening up,there will still be some lend-ing...it's just a sentiment issue."

China is the world's top met-als consumer and a major rea-

son for copper's 140 per centgains last year.

On Thursday, India's centralbank raised interest rates bymore than expected, extendingits fight against inflation, rais-ing speculation that China may

have to do the same.A trend of falling LME inven-

tories has helped support metalprices in recent months. Latest

LME data showed copper stocksslipped 2,950 tonnes to 384,200tonnes, having fallen from 6-1/2year highs at 555,075 tonnes inmid-February.

Aluminium was untraded atthe close but bid at $2,180 atonne from a last bid at $2,165on Thursday. LME stocks forthe metal, used in transport andpackaging, fell 3,975 tonnes to4.39 million tonnes.

A large portion of those alu-minium stocks are tied up infinance deals.

Steel-making ingredientnickel was last bid at $23,200from $23,250, after earlier hit-ting a 4-month peak at$23,570. Battery material leadended at $2,202.5 a tonne from$2,202, having earlier touchedits highest level since April at$2,258.50 a tonne.

Zinc ended at $2,151 a tonnefrom $2,148 and tin at $23,600from $23,495, after earliertouching a two-year high at$23,800. -Reuters

9Saturday, September 18, 2010

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash Buyer 1240 1160

March (3rd Wednesday) 1240 1090

April (3rd Wednesday) 1240 1090

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for September 16 2010

LME Official Prices, US$ per tonne for September 16 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2234 2131 7669 2191 23250 23275 2132 2110

Cash seller 2235 2132 7670 2191.5 23255 23325 2132.5 2111

3-months buyer 2150 2167 7684 2221 23275 23300 2155 2120

3-months seller 2160 2167.5 7685 2223 23300 23350 2156 2130

15-months buyer 2075 2243 7630 2243 22775 22925 2218 2120

15-months seller 2085 2248 7640 2248 22875 22975 2223 2130

27-months buyer 2075 2310 7395 2223 21875 2218 2170

27-months seller 2085 2315 7405 2228 21975 2223 2180

LONDON METAL EXCHANGE (METALS)

NEW YORK: Gold hit arecord high on Friday for thethird time this week as poor USconsumer data and market talkof more quantitative easing putthe alternative asset on trackfor its largest weekly gainsince May.

Silver rose to just below $21an ounce, approaching levelsnot seen since 1980 as gold'srally triggeredfurther investorspeculation thatthe white metalwould continue awinning streakthat began inAugust.

Gold surged toan all-time peak of $1,282.75an ounce in the European ses-sion on expectations that theUS Federal Reserve, hoping tostave off double-dip recession,could announce more quantita-tive easing -- usually a boonfor gold.

After some profit-taking, themetal turned higher again afterdata showed consumer senti-ment worsened in earlySeptember to its weakest inmore than a year. Anotherreport indicated little underly-ing US inflationary pressure.

"Gold continues to reflect theoverall level of concern.

The weak consumer confi-dence data was certainly sup-portive to the rally in gold,"said Frank McGhee, head ofprecious metals trading atIntegrated Brokerage Servicesin Chicago.

Spot gold fetched $1,275.55an ounce at 1553 GMT, com-

pared with $1,272.20 late inNew York on Thursday. It hasgained more than $100, nearly9 per cent, since the start ofAugust.

US December futuresclimbed $3.40 to $1,277.20 anounce.

Foreign-exchange volatilityalso boosted gold's appeal asan alternative currency, afterJapan intervened onWednesday to weaken the yenfor the first time in six yearsand the United States sharp-ened its tone on China's cur-

rency policy.September and October are

typically seasonally strongperiods for jewelry demand,with a number of major gold-buying festivals near the year-end in top consumer India,while Western manufacturersstock up ahead of Christmas.

Also lending backgroundsupport this week was the

long-expectedannouncementof AngloGoldAshanti's cap-ital raising, akey functionof which wasto buy back itsou t s t and ing

gold hedges.Eclipsing gold's rally, silver

has gained more than 5 percent this week, outperformingthe yellow metal's 2.5 per centincrease. Spot silver was up 0.2per cent at $20.77 an ouncefrom $20.72 in New York onThursday.

Spot platinum hit $1,630 anounce, its highest since May19. It rose to $1,621 from$1,603.65 on Thursday andpalladium edged up to$546.50 an ounce from$544.65. -Reuters

Gold hits record above$1,280 on weak confidence

European vegetable oil pricesROTTERDAM: The follow-

ing were the Friday'sRotterdam vegetable oil price'sat 21:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Oct10786.00, Nov10/Dec10 785.00,Jan11/Mar11 791.00,Apr11/Jun11 778.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Nov10/Jan11788.00+6.00, Feb11/Apr11797.00+7.00, May11/Jul11800.00+5.00.

SUNOIL: EU dlrs tonneextank six ports optionOct10/Dec10 1130.00+20.00,Jan11/Mar11 1135.00+20.00,Apr11/Jun11 1150.00+25.00.

LINOIL: Any origin dlrstonne extank RotterdamSep10/Oct10 1252.50-2.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Sep10910.00+15.00, Oct10910.00+15.00, Nov10900.00+10.00, Dec10890.00+10.00, Jan11/Mar11890.00+15.00, Apr11/Jun11890.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Nov10/Dec10925.00.

PALMOIL: RBD dlrs tonnefob Malaysia Nov10/Dec10877.50.

PALM OLEIN: RBD dlrstonne fob MalaysiaNov10/Dec10 885.00,Jan11/Mar11 877.50,Apr11/Jun11 877.50.

PALM STEARIN: Dlrs tonnefob Malaysia Oct10 885.00,Nov10 875.00.

PALM FATTY ACID DIS-TILLATE: Dlrs tonne fobMalaysia Oct10 675.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1240.00+5.00,Nov10/Dec10 1240.00+5.00,Dec10/Jan11 1240.00+5.00.

PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Sep10/Oct101242.50+7.50, Oct10/Nov101240.00+10.00, Nov10/Dec101235.00+5.00, Dec10/Jan111235.00+5.00.

CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 2020.00+0.00. -Reuters

Sugar probes25 cents/lb,coffee slips

LONDON: Raw sugar andcocoa futures rose on Friday,boosted by broad-based gainsin financial markets and opti-mism over consumer demand,with sugar expected to breachthe psychological 25 cents a lblevel.

Arabica coffee futures onICE were lower as analysts pre-dicted the recent rally was notsustainable.

Raw sugar prices were higherwith dry weather in Brazilremaining a key supportiveinfluence.

"Demand conditions remainpositive and the tightness innearer term supplies remains(along) with concerns on theimpact of dry weather inBrazil," Barclays Capital saidin a daily report.

A London-based sugar dealersaid he believed a breach abovethe key psychological 25.00cents a lb level was inevitable.

"Someone is going to have ago at it," the dealer said.

ICE October raw sugarfutures were up 0.22 cents, or 1per cent, at 24.70 cents a lb at1532 GMT.

"While we continue to expecta supply increase in the comingharvest in response to recenthigh prices, adverse weatherover the past months points tolower than previously expectedproduction for both Brazil, thelargest producer and exporter,and Australia, the third largestexporter," Goldman Sachs saidin a report.

London December whitesugar was up $5.70 or 0.9 percent at $613.90 per tonne.

ICE arabica coffee futuresslipped, unable to hold ontogains which pushed the marketto a more than 13-year high lastweek. December arabicafutures fell 2.9 cents or 1.5 percent to $1.8890 per lb.

Robusta coffee futures onLiffe rose with November up$16 or 1 per cent at $1,660 atonne. Cocoa prices steadiedafter falling to the lowest levelsin more than one year earlierthis week.

Liffe December cocoa was 2pounds or 0.1 per cent higher at1,888 pounds a tonne. ICEDecember cocoa was up $15 or0.5 per cent at $2,753 pertonne. -Reuters

LIMA - PERU: Farmer Maura Vargas harvests potatoes that have been grown with water from

tankers and fog nets, in the hillside of Villa Maria Del Triunfo shantytown, in Lima. -Reuters

NEW YORK: Oil fell a fourthsession, to below $74 a barrel onFriday after US consumer confi-dence data showed a surpriseslip and investors anticipated thereopening of a major crudepipeline into the United States.

US consumer sentimentunexpectedly worsened inearly September to its weakestlevel in more than a year, asdistress over jobs and financesintensified among upper-income families, a surveyshowed.

The oil market has spentmuch of the year in lock-stepwith equities and US stocksseesawed as the report on con-sumer sentiment weighed onWall Street.

The dollar rallied against theeuro and the yen as the US con-sumer data eased risk appetite,and currency markets bracedfor possible intervention by theBank of Japan.

US crude for October deliv-ery fell $1.19, or 1.6 per cent,to $73.38 per barrel at 1608GMT, trading from $73.16 to$75.25. The October contractexpires on Tuesday.

US November crude fell$1.11, or 1.47 per cent, to$74.63 a barrel. ICE Brent forNovember fell $1.04 to $77.44.October Brent expired on

Wednesday."This major oil pipeline will

be back in operation today,"Carsten Fritsch atCommerzbank said. "Weexpect oil prices to come underpressure in the coming days."

US crude prices have tradedrange bound this year butspiked to a one-month highafter last week's closure ofEnbridge Line 6A that bringsCanadian crude to US Midwestrefineries and the crucialCushing, Oklahoma, oil hub.

Line 6A is the main artery ofEnbridge's Lakehead PipelineSystem.

Oil prices fell despite thepotential impact fromHurricane Karl as the stormclosed in for a second hit on theMexican coast. State-run oilgiant Pemex evacuated plat-forms and halted production at14 minor wells, the companysaid in a statement that did notdetail how those measureswould disrupt production.

With OPEC set to meet Oct.14 to consider member produc-tion levels and market share,Russian Prime MinisterVladimer Putin on Friday saidhis country, the world's biggestoil producer, will work moreclosely with the producergroup. -Reuters

Oil slips on US data,pipeline reopening

Copper firm, but retreatsfrom 4-1/2-mth high

KUALA LUMPUR: Malaysiancrude palm oil futures gained 1.2per cent on Friday after touchinga near two-week low earlier inthe day as a surge in corn pricesspread to other agriculture com-modities.

"Crude oil and soyoil showeda little strength today," said atrader in Singapore. "The mar-ket is expected to trade range-bound between 2,600 and2,620 ringgit."

The benchmark Decembercrude palm oil contract onBursa Malaysia DerivativesExchange rose 31 ringgit tosettle at 2,627 ringgit ($843.1)per tonne after falling to 2,598ringgit -- a level unseen sinceSept. 6.

Traded volumes almost dou-bled to 19,046 lots of 25 tonnes

each.Crude oil also supported US

soyoil for October delivery,which rose 1.3 per cent. InChina, the most active Maysoyoil contract on DalianCommodity Exchange inchedup in light trading.

In Indonesia, Jakarta-basedPT KBN Nusantara, formerlyknown as the state marketingcentre, sold 7,500 tonnes ofcrude palm oil at a top price of8,023 rupiah ($0.894) per kg inan auction on Friday. The cen-ter did not hold any auction onThursday.

Refiners in Jakarta soldrefined, bleached, deodorised(RBD) palm olein -- used ascooking oil -- at 8,650 rupiah perkg, compare with 8,600 rupiahthe previous day. -Reuters

Palm oil off 2-wklows on corn support

Shanghai copper

strengthensShanghai copper futures rose

more than 1 per cent onFriday, while London reversedearly losses to turn positive,after reassuring commentsfrom China's central bankabout its plans to keep mone-tary policy loose.

By 0357 GMT three-monthcopper on the London MetalExchange rose to $7,715 atonne from Thursday's close at$7,700. Benchmark third-month Shanghai copper rose0.8 per cent to 59,540 yuan.

Indian wheatedges higher

MUMBAI: India's wheat futuresended slightly higher on Fridaydue to some buying interest atlower levels, analysts said.

Expectation of bumper cropand the government's stockrelease plan, however, restrict-ed the gains. "Wheat is tradingin a very narrow range. Somebuying interest is supportingwheat futures at lower levelsbut prices are unlikely to sus-tain as overall fundamentals arebearish," said Sudha R.Acharya, analyst at KotakCommodities Services Ltd.

October wheat on theNational Commodity andDerivatives Exchange(NCDEX) edged up 0.11 percent to end at 1,225.2 rupeesper 100 kg. The contract hasfallen 1.16 per cent this week.

India has no immediate planto allow wheat exports by theprivate sector, the farm ministersaid on Friday.

India's wheat harvest in 2011is seen at 82 million tonnes,Farm Secretary P.K. Basu saidon Friday, up from this year's80.71 million tonnes. This islikely to weigh down interna-tional prices of the food grain.

The Indian government willfree 2.5 million tonnes ofgrains from its stocks for sale tostates, Farm Minister SharadPawar had said earlier.

India, which curbed grainexports in recent years to headoff domestic price rises, madesome concessions to export toneighbouring Bangladeshrecently after some global sup-pliers cancelled deals to shipBlack Sea wheat since Russiacurbed grain exports. -Reuters

HAMBURG: European bench-mark milling wheat futures inParis raced to a new contracthigh in early trade on Friday onthe back of strong rises in USgrains and other commoditymarkets but pared gains in latertrade.

US grains futures surged onFriday on continued concernabout global harvest losses.

The Paris Euronext marketshot up in opening deals on theback of gains in US grains andother commodity marketsfuelled by a slide in the dollar.

Paris' benchmark Novembermilling wheat was up 4.50 eurosor 1.9 per cent at 233.25 eurosper tonne by 1617 GMT, afterhitting a contract high of 238.00euros in early trade.

This surpassed a peak of 236euros set on Aug. 5 when Russiafirst announced its ban on grainexports after drought devastatedits crop.

Grains futures rose to two-year

highs in early August, almostdoubling from June lows, afterthe Russian ban. But Parisslipped back from the highs astraders said the market stilllacked momentum to hold abovelevels seen last month.

Maize futures on Euronextalso rose to contract highs.

November maize was up 4.00euros or 1.9 per cent at 210.75euros at 1617 GMT, after settinga contract high at 213.00 euros.

Poor weather has also hitEurope's maize crop, adding toconcern about tight global sup-plies. Germany's market alsorose in response to the Paris andUS rises coupled with continuedindications that much ofGermany's crop will only reachanimal feed quality this summer.

London November feed wheatrose 3.25 pounds to 165.50pounds a tonne, moving withinstriking distance of its contracthigh of 169.00 pounds set onAugust 5. -Reuters

EU wheat hits newhigh, pares gains later

NEW YORK: Cotton futuressettled on Thursday at a new15-year high on all-aroundinvestment fund and millbuying, with most playersexpecting fiber contracts tohit the psychological $1/lbline in coming days, bro-kers said.

The key ICE Futures USDecember cotton contractclimbed 2.14 cents to close at95.76 cents per lb, markingthe highest finish for thebenchmark second positioncontract since 1995 -- the onlytime cotton futures have trad-ed over $1.

December traded between93.50 and 96.49 cents.

Total cotton volume traded

came to 17,540 lots at 1851GMT, 26.02 per cent above

the 30-day average of 13,918lots, preliminary ThomsonReuters data showed.

"It's basically spec and fundbuying," Keith Brown, presi-dent of commodity firm KeithBrown and Co. in Moultrie,Georgia, said, adding mer-chants and mills had alsopiled in.

The USDA said total US

cotton sales hit 844,200 run-ning bales (RBs, 500 lbs

each), sharply above the154,200 RBs in last week'sreport.

Total open interest in thecotton market stood at229,876 lots as of Sept. 15,from the prior tally of230,714 lots, exchange data

showed.Broker Flanagan Trading

Corp. sees resistance forDecember futures at 96.25and 97.45 cents, with supportat 95.10 and 94.15 cents.

Total volume traded onWednesday hit 23,178 lots,from the prior 21,556 lots,ICE Futures US data showed.-Reuters

NY cotton at new 15-yrpeak, targets $1/lb

NY cotton mid-dayInvestors piling into a hot cotton market has

catapulted open interest up 50 per cent asprices hit their highest level since 1995,exchange data showed on Friday. The bench-mark ICE Futures US key December cottoncontract hit a 15-year high at 97.80 cents per lb,having risen almost 25 per cent since July.

Weak consumer data boosts gold as alternative asset

Key Tokyorubber edgeup on yen

TOKYO: The key Tokyo rub-ber futures contract endedslightly higher on Friday asyen weakness against the dol-lar lent support to the marketbut concerns over increasingsupply and higher inventoriesin Shanghai left investorswary.

The key Tokyo CommodityExchange rubber contract forFebruary delivery settled at296.5 yen per kg, up 1.3 percent, or 3.7 yen. The contractwas up around 2 per cent onthe week.

The September contractwhich expires next week wasdown 3.5 yen or 1.2 per cent at286 yen.

Oil rebounded on Friday,spurred by rising Asian equi-ties, but was still headed for itsbiggest weekly drop in amonth as Enbridge prepared toresume flows through itslargest Canada-US pipelinewithin hours.

The dollar hit a five-weeklow against a basket of curren-cies on Friday, hurt by grow-ing talk of more quantitativeeasing from the FederalReserve.

Rubber inventories in ware-houses monitored by theShanghai Futures Exchangerose 8.7 per cent from a weekearlier, the exchange said onFriday.

Malaysian private equityfirm Navis Capital Partnerssaid on Friday it had soldMalaysia-based rubber prod-ucts maker Linatex to Britishengineering firm Weir GroupPlc for $200 million.

General Motors aims to sellat least 10 to 15 per cent morevehicles in China next year, asgrowth in the world's biggestauto market is expected toreturn to a more rational trendafter breakneck expansion, itsChina chief said. -Reuters

10Saturday, September 18, 2010

MADRID: Jose Mourinhowill not accept an offer to taketemporary charge of the strug-gling Portuguese nationalteam for next month's Euro2012 qualifiers, the RealMadrid coach said Friday.

Mourinho was approachedby Portugal's football federa-tion (FPF) and asked if hewould take over for the quali-fiers at home to Denmark onOctober 8 and away to Icelandfour days later.

He told a news conferenceat Real's training ground on

Friday he was unable toaccept the offer as hebelieved his club would nothave reacted positively to hisabsence.

"For personal pride and pas-sion for Portugal I couldn'tsay no but I can't say yeseither," Mourinho said.

"My sense is that in the RealMadrid world it would havebeen interpreted negatively,"he added.

"There would have to betotal agreement and I don'tthink that's going to happen.

Real Madrid has every rightto make the decision theyhave. For me the issue is fin-ished."

Portugal sacked CarlosQueiroz this month after hewas suspended for six monthsfor insulting anti-dopingagents before the World Cupand have yet to name areplacement.

They have had a poor startto their qualifying campaign,with a 4-4 home draw againstCyprus and a 1-0 defeat inNorway.-Reuters

Mourinho rules outPortugal coaching

LONDON: Despite all thehardships Pakistan somehowmanaged to place a respectabletotal in front of England, offer-ing them to chase on a goodwicket at Oval in the third ODIof Natwest series.

Fawad Alam anchoredPakistan's innings with a tena-cious 64, having rescued hisside from a precarious scorelineof 31 for 3, but England's bidfor a sixth series victory of thesummer got off to a promisingstart as they restricted Pakistanto 241 in the third ODI at TheOval. James Anderson was thestar of England's show with aeye-opening display of attack-ing seam bowling - as opposedto the swing-based method thathas earned him his rewards todate this summer. He claimed 3for 26 in ten exemplary overs,to spearhead a bowling effortthat never allowed a free-spirit-ed batting order to flourish.

Pakistan's return to The Oval,the scene of a memorable victo-ry in last month's third Testagainst England, began promis-ingly as Shahid Afridi won thetoss and chose to bat first on achilly but bright afternoon inSouth London. But Anderson

took little time to prove a men-ace on a pitch with decentbounce, as he jagged the ballthis way and that while attack-ing the top of off stump beforesnagging the outside edge of alimp poke from MohammadHafeez with the final ball of hisopening over.

Four balls later, and TimBresnan was in on the act aswell. Kamran Akmal had top-scored in each of Pakistan's firsttwo innings of the series, butthis time he was sawn off beforehe could find his range. Aslightly leg-sided delivery hitthe underside of his thigh-padand deflected unluckily backonto his stumps, and he was onhis way for 5. At 8 for 2 after2.4 overs, Pakistan's perform-ance was heading down the pan.

Mohammad Yousuf was areassuring figure to pitch intothe fray, but even he had nolong-term answer forAnderson's waspish line ofattack. He announced his inten-tions with an easy-as-you-likesquare drive for four, beforeAnderson nailed him with anip-backer that replays showedwould have trimmed the top ofthe bails.-Agencies

Pak offers Eng a242 runs chase

LONDON: Tiger Woodswill go out with all gunsblazing at next month'sRyder Cup to try to makeamends for a mediocre sea-son, triple major championPadraig Harrington said onFriday.

The world number onehas had a troubled year onand off the course and isstill waiting for his firsttournament victory of 2010.

"The Ryder Cup could bethe pinnacle of his year, likeit could be for me," saidHarrington of his fellowwildcard pick. "He will bein a fighting mood for theweek, in a mood to per-form.

"At the last one in 2008 Iwas a bit burned out ... but

going into this one Tiger'snot going to be that way andI'm not going to be thatway," said the Irishman in a

conference call withreporters.

"He's not coming into thisRyder Cup having achieved

a lot of his goals this yearand he's probably thinking,'I want to play well to makeit a successful year'."

Neither player qualifiedautomatically for the Oct 1-3 match at Celtic Manor inWales. Harrington relied on

a wildcard selection fromEuropean captain ColinMontgomerie and Woodswas chosen by US skipperCorey Pavin.

Asked whether he wouldhave picked Woods, theIrishman replied; "Yes, 100percent, absolutely -- he isthe number one golfer inthe world and he's beenshowing good form of late.

"He has a presence andintimidation factor.Matchplay will suit him.

"I think he's going to bestrong enough to stand upon the tee box against any-body. Certainly no book-maker will make him alongshot in his singlesmatch."

SPECIAL CIRCUM-

STANCESHarrington, who won the

British Open in 2007 and2008 and the US PGAChampionship two yearsago, said Woods had oftenfound it hard to come toterms with the special cir-cumstances surrounding aRyder Cup.

"In previous Ryder CupsTiger has struggled with thestructure of the event," saidthe 39-year-old Dublinerwho has gone two yearswithout a victory.

"Playing a practice roundat 11 olock in the morning,I don't think he's ever donethat in his life. Normallyhe's out at 6 o'clock and by11 he's out of there and offthe golf course.-Reuters

Tiger to go out all guns blazing

Pedrosaextends

Honda dealto 2012

MADRID: Dani Pedrosa hasagreed a two-year contractextension that will keep him atHonda until 2012.

"This has been the team ofmy dreams since I was a kidand that's still the same feelingI have now," the Spanish ridertold www.motogp.com onThursday.

"Our goal of course is to fightfor victories every weekendand to win the MotoGP worldchampionship. I believe wehave what it takes to do both ofthose things."

The 24-year-old Pedrosa haswon three world titles in the250cc and 125cc categories,and has 12 Grand Prix wins atthe top level.

The MotoGP championshipresumes in Aragon, Spain onFriday with Pedrosa lying sec-ond behind compatriot JorgeLorenzo in the series.-Reuters

Djokovicout of DavisCup match

LONDON: Novak Djokovichas pulled out of Serbia'sopening Davis Cup semi-finalmatch against the CzechRepublic because of gastro-enteritis, an ITF spokes-woman said on Friday.

"He does not play the firstmatch. He is sick. He has gas-tro-enteritis," BarbaraTravers told Reuters in Lyon,where France play Argentinain the other world groupsemi-final tie.

World number twoDjokovic, who was due toplay Radek Stepanek, will bereplaced by Viktor Troicki.

Djokovic said on Thursdayhe was "exhausted" after trav-elling back from the USOpen, where he lost toSpain's Rafael Nadal in thefinal.

In Friday's second match,Janko Tipsarevic will faceTomas Berdych.-Reuters

Spot-fixingfile on UK

prosecutors' deskLONDON: British police have sent to pros-ecutors their initial findings in an investiga-tion into allegations of spot-fixing byPakistani cricketers during a test matchagainst England last month, the police saidon Friday.

London police have interviewed SalmanButt, Mohammad Asif, Mohammad Amirand Wahab Riaz over claims they fixed cer-tain incidents, such as the bowling of no-balls at predetermined times, during thefourth test at Lord's.

"The Metropolitan Police service today17th September has delivered an initial fileof evidence relating to conspiring to defraudbookmakers to the Crown ProsecutionService (CPS)," police said in a statement.

"The file will now be subject to CPS con-sideration. This is an initial file and an MPSinvestigation continues," it added.

A CPS spokesman said it would wait forall the evidence before deciding whether totake further action.-Reuters

ICC rebukesKiwi umpireover no-ballcomments

ISLAMABAD: Cricket's governing body,the International Cricket Council (ICC) hasreprimanded New Zealand umpire Tony Hillfor publicly stating about the alleged spot-fixing scam, surrounding Pakistan-Englandtest at Lords, according to a report.

"The ICC has told him not to commentfurther until the investigation into the matterhas been completed," Radio New Zealandreported on Friday.

In a recent to interview to newspapers 'TheDominion Post' Hill had said he didn't sus-pect spot-fixing when Mohammad Asif andMohammad Aamer bowled the no balls butthought the duo deliberately did so to unset-tle England batsman Jonathan Trott.

He said he and his colleague Billy Bowdenhad discussed the no-ball bowled by Aamir.

"We never suspected a thing. There hadbeen the big overstep in particular and in ourminds that was more a deliberate overstep tohave a go at Trott, who had been batting sowell," Hill said.-Reuters

LONDON: Fawad Alam hits out watched by England’s Steven Davies during the third one-day international

cricket match at the Oval cricket ground.-Reuters

11Saturday, September 18, 2010

International & Continuation

WASHINGTON: UnderlyingUS inflation pressures weremuted in August, keeping defla-tion fears alive, even though arise in food and energy costsdrove overall consumer priceshigher.

The core consumer price indexwas flat last month, the LaborDepartment said on Friday,defying financial market expec-tations of a 0.1 per cent gain. Thecore CPI, which excludes foodand energy prices, rose 0.1 percent in July.

While the report strengthenedthe Federal Reserve's biastoward further monetary easing,the data was not so weak that theUS central bank is expected to

announce new steps to easemonetary policy when it meetson Tuesday to assess the econo-my, analysts said.

"It keeps alive the possibilitythat the trend could turn negativeover the next year or two, but thenumbers are not weak enough toencourage them to start a newpurchasing program next week,"said Jim O'Sullivan, chief econo-mist at MF Global in New York.

The overall CPI rose 0.3 percent, lifted by higher food andenergy costs, after a similar gainin July. August's rise was a touchabove expectations of a 0.2 percent increase.

Another report showed con-sumer sentiment unexpectedly

worsened in early September toits weakest level in more than ayear. The Thomson ReutersUniversity of Michigan's prelim-inary September reading on con-sumer sentiment came in at 66.6,down from 68.9 in August.

US government bond pricesrose as some investors viewedthe flat core reading as a signdeflation remained a threat to aneconomy struggling to recoverfrom its worst recession sincethe 1930s.

Wall Street stocks traded flat,while the dollar rose against theeuro.

With sluggish domesticdemand expected to keep infla-tion pressures tame, many ana-

lysts believe the Fed will resumelarge-scale asset purchases incoming months to drive long-term interest rates lower to spurthe economy and keep deflationrisks at bay.

The US central bank alreadyhas cut overnight interest rates tonear zero and pumped more than$1.7 trillion into the economythrough purchases of Treasuryand mortgage-related debt.

"We expect the Fed to formal-ize the bias toward easing, butthey will probably wait untilNovember to initiate balancesheet expansion," said YelenaShulyatyeva, an economist atBNP Paribas in New York.-Reuters

US consumer prices rise,but underlying trend flat

VIENNA: Governments havemore to do to pull banks offstate support, one EuropeanCentral Bank policymaker saidon Friday, and another warnedthat emergency cash supplieswould not last forever

ECB Governing Councilmember Ewald Nowotny toldreporters at a trade union con-ference that government actionwas needed to wean banks offthe cheap cash the ECB hasprovided since late 2008.

That added to the impressionthat the fate of some euro zonebanks -- particularly in Irelandand Portugal -- is now back atthe forefront of investors' andpolicymakers' concerns, evenafter the agreeing of newstricter rules on capital lastweek.

Axel Weber, the head ofGermany's Bundesbank andanother ECB council member,said there was still work to bedone on making sure no bankswere so big they could not beallowed to fail in future andsaid regulation would have toreviewed regularly.

"The financial crisis is stillwith us. We are not in year one

after the crisis, we are in yearfour of the crisis," Weber saidin a speech at the EuropeanBusiness School.

"Moral hazard is present inthe financial system ... I wantto get to a situation where theterm 'too big to fail' does notexist. Banks have to be able tofail, but it must be able to hap-pen in an orderly way."

Another ECB policymaker,Yves Mersch, was quoted astelling Frankfurter AllgemeineZeitung that the ECB wouldtread carefully in removing sup-port, but banks should not counton unlimited cash for ever.

"We are implementing ourexit cautiously and are accom-panying the normalisation inindividual market segments,"he told the newspaper."However, the peak of non-conventional measures is nowdefinitely behind us."

"I see no need to hold ontofull allotment (of funds at cen-tral bank auctions) in the 'newnormality'. Short-term ratescan be very easily controlledvia competitive tenders."

And Nowotny said: "There isan obvious problem of so-

called addicted banks. This is aproblem that has to be solvedprimarily by the governments."

Ireland has taken a hammer-ing on markets -- and pushedout the yield spreads of othercountries perceived as at risk -- over the growing cost of bail-ing out its banks, crippled bythe collapse of its propertyboom.

Ireland's finance ministryand the International MonetaryFund sought to calm marketson Friday after a newspaperreport on the possibility of abailout spooked investors.

Although markets are pricingin an eventual sovereigndefault by Greece, "a sovereigndefault in the euro zone willnot happen ... A lot of moneyhas been put on the table (bygovernments) but it comeswith strong conditionality,"Weber said.

"Greece has to stay anabsolute exception," he added,referring to the EuropeanUnion/International MonetaryFund aid package Greecereceived to solve its debt prob-lems, which were covered upuntil late last year. -Reuters

ECB officials point toneed to act on banks

CONTINUATIONdeveloped Afghanistan was pivotal for the peace and stability of

Pakistan and his government would continue assisting the Afghangovernment to achieve these goals. -Online

Continued from page 12No #1

the government will play its role to assure success of theMDTF," said Sibtain Fazal Halim, Secretary Economic AffairsDivision, who co-chaired the meeting.

The World Bank confirmed its commitment to administer thefund on behalf of the participating donors. The expanded focus ofthe MDTF takes into account the need to address flood recovery,though the fund remains committed to the original goals in sup-port of a long-term peace-building strategy for the region.

The Bank is using its emergency procedures to reduce prepara-tion and approval time for projects under the MDTF. At the sametime, systems are being put in place to ensure that funds will beused for the intended purposes in a transparent manner. -Online

Continued from page 12No #2

phases.The US Special Envoy said the magnitude of the calami-ty in Pakistan is hundred times bigger than Katrina in the UnitedStates a few years back and it will require investment worth bil-lions of dollars to recoup. He said the United States and othermembers of the international community would surely providehelp in reconstruction phase as well but bulk of the job wouldhave to be undertaken by Pakistan itself. It will have to find waysto raise more revenues to support its needs.

Holbrooke said he visited numerous refugee camps during thelast forty years but he was struck by the resilience of the affectedpeople in the face of floods of unprecedented magnitude. In thiscontext, he also referred to the vital role that Radio Pakistan wasplaying in this hour of trial and said Radio is most effective meansof communication and news in the country. That is why he alwaysinteracts with Radio Pakistan during his trips to Pakistan.

He pointed out that a special ministerial level session is beingheld in New York to be co-chaired by UN Secretary-General andPakistan Foreign Minister to take stock of the latest flood situa-tion and aid requirements. US Secretary of State Hillary Clintonwould also attend the session.

Asked whether the United States would support a reconstructionprogramme like Marshall Plan, he said the US economy constitut-ed 50 per cent of the global GDP when such Plan for Europe waslaunched but now it is 22 per cent of the world's GDP. He, how-ever, said Pakistan has two real friends China and the UnitedStates and both want to help it in different ways.

When his attention was drawn to large-scale damages to infra-structure in Swat by floods, he held out an assurance that theUnited States will not forget people of Swat who rendered tremen-dous sacrifices in the context of war on terror. The United Stateswould support programmes and plans of Pakistan Government forreconstruction of Swat.About construction of water reservoirs,Richard Holbrooke said Pakistan definitely needs dams to con-serve water and check floods in view of the climatic change but itis for its government to decide where these are to be built.

To a question, he admitted that previously reimbursement of theexpenses to Pakistan under Coalition Support Fund was slow butadded that the process has been expedited. He said this is themoney that the United States owes to Pakistan and this year it hasreimbursed over one billion dollars. -Online

Continued from page 12No #3

self-determination that is why their firm determination is beingreflected in the peaceful protests of the youth, women and all seg-

Continued from page 12No #4

summoned meeting on Saturday to ensure full proof security ofthe judges. The Chief Justices of all four high courts and chief jus-tice of Federal Shariat Court would attend the meeting whileFederal Secretary Interior, IG Punjab and Chief Secretary Punjabhave also been called. Registrar Supreme Court Dr Faqir Hussainconfirmed the meeting and told that the meeting is being called toensure judges security. -Online

Continued from page 12No #5

The lower volumes were due to softer demand from utilities, asthe country's electricity network was disrupted by devastatingfloods that wrecked the country over the past month, they added.

The state firm bought up to 10 cargoes of high-sulphur 180-cen-tistoke (cst) fuel oil, of 65,000 tonnes each, from Middle Easttrader Bakri and FAL Oil at undisclosed price levels on a cost-and-freight (C&F) basis.

"Demand from Pakistan this time round hasn't been greatbecause of the floods that have damaged some power generationplants, impacting electricity consumption to the point where theyhad to defer delivery of some low-sulphur fuel oil cargoes," aSingapore-based Asian trader said.

"Also, the Middle East fuel oil market has been amply suppliedand that probably meant that transaction levels weren't great andcompetition for the tender must have been quite stiff, especiallysince both FAL and Bakri both ended up with the same number ofcargoes." PSO last bought up to 1.025 million tonnes of fuel oilfor August to October delivery into Karachi at premiums of$16.00-$18.00 a tonne to Middle East spot quotes, C&F.

Most of Pakistan's fuel oil supply comes from the Middle East,which has been amply supplied in the past month, on increasingvolumes from Saudi Arabia and Iran.

September volumes from the kingdom stand at 500,000-550,000tonnes, up from 300,000-350,000 tonnes for each of the past twomonths. Volumes from Iran are also ample as excess barrels arestored on board Very Large Crude Carriers, with at least two270,000-tonne supertankers being used as storage at any one time.

East Asia is also heavily supplied by Western arbitrage flows forOctober, notionally estimated around 3.8 million tonnes, the high-est volume in three months and up from 3.4-3.5 million tonnes forSeptember. -Reuters

Continued from page 12No #6

ments of civil society.He said Pakistan strongly condemns the bru-tality and the blatant use of force by Indian security forces and thekilling of the innocent Kashmiris, continued arrests and detentionof the Kashmiri leaders are unacceptable.

Qureshi said that Pakistan would continue to stand by theKashmiris in their just cause.

"We urge the international community to take steps for safe-guarding the human rights of Kashmiris," he said.Shah MehmoodQureshi said Pakistan was committed to finding a just and peace-ful resolution of the issue of Jammu & Kashmir in accordancewith the relevant UN resolutions and wishes and aspirations of theKashmiri people. He said Pakistan had sought early and fullresumption of the dialogue process with India and wanted a con-structive, sustained and result-oriented dialogue with India on allissues including the Jammu & Kashmir dispute. -NNI

decisions are not joke, I may be told who had sent summary to thePrime Minister to misguide him and we will take action against himand send him to jail", CJP said.

The Court directed Ismail Qureshi, secretary establishment divi-sion that the notification through which the notification of appoint-ments was nullified and the summary which was sent to Prime

Continued from page 1No #7

economy and generating employment opportunities, which reduce the likelihood of the youth turn-ing towards militancy and extremism, he added. In this context, the PML-N leader referred specifi-cally to the need for the Obama administration to finalise the understandings envisaged in the Tradeand Investment Framework Agreement as well as for early approval by Congress of the legislationrelating to the Reconstruction Opportunity Zones.

Sharif also highlighted the need for early resumption of dialogue process between Pakistan andIndia. In this context, he urged the Obama administration to play a more effective role for the reso-lution of all outstanding issues between Pakistan and India, including the issue of Jammu andKashmir.Ambassador Holbrooke assured the former prime minister that US viewed Pakistan as animportant country that deserved the help and assistance of the entire international community in itsefforts to confront militancy and to strengthen its economy.

The US envoy reiterated that Obama administration and US Congress were also committed to sup-porting Pakistan and developing its institutions on a long-term basis. He said the US was also sup-portive of Pakistan's efforts to normalise its relations with India. This was essential not only forpeace and stability in the region but for both countries to confront the many challenges they face, headded. Ambassador Holbrooke appreciated that the former prime minister has been a strong advo-cate of cordial and cooperative relations between Pakistan and India.-NNI

Continued from page 1No #8

emergency food relief operation through to July 2011."The road to recovery will be long and arduous and Pakistan will need all the help it can get to

build back from this disaster," said Sheeran. As well as general food distributions, under the expand-ed relief operation, WFP is putting in place a targeted supplementary feeding programme for infantsand pregnant and breastfeeding women, and emergency school meals programmes.-Online

Continued from page 1No #9

to all the provinces", added the minister.Gondal said that the ministry would soon finalise a Relief/Incentive Package for the flood affected areas and would forward it to ECC for approval. He addedthat farmers would be facilitated in all the possible ways so that they resume their livelihood throughan early recovery from the damages they faced.

"The objective of the Relief Package would be to help the small farmers of the country", said theminister.The meeting was informed that a total of 135000 tonnes of wheat seed would be needed forall the provinces. A total of 130,823 tonnes of wheat has been damaged in the public sector.Excluding the damages by the floods, the remaining total of 10,171,774 tonnes of wheat is availablein the public sector. -Online

Continued from page 1No #10

It also "recognises that Pakistan is and remains a close ally and friend of the United States" and"reaffirms the commitment of the people of the United States to partner with the people of Pakistanto respond to the immediate crisis and build the foundations for a successful and lasting recovery".

The measure passed by vote of 396 to 2. The resolution supports the use of funds by Washington tohelp relief efforts and "urges the United States administration and the international community, includ-ing private citizens and foreign governments, to continue providing assistance" to Pakistan. -Agencies

Continued from page 1No #11

contributed a big chunk of its ration for the relief of the affected people.He appreciated the morale of the commanders and the Jawan for their untiring efforts to extend all

possible assistance to the countrymen in hour of crisis. -APP

Continued from page 1No #12

which have added to its difficulties.PSO has also deferred offering of tenders for the contract in connection with 10 cargoes of fuel for

the months of October and November due to non-clearance of dues by others. -Online

Continued from page 1No #13

debit cards transactions were reported to 35.03 million and Rs269.40 billion respectively showingan increase of 7.0 per cent in number and 4.8 per cent in value.

Similarly, during the fourth quarter of FY10 the volume and value of credit cards transactions werereported at 3.9 million and Rs16.6 billion respectively showing an increase of 8.9 per cent in num-bers and 1.7 per cent increase in value as compared to 3.9 per cent decrease in numbers and 4.0 percent decrease in value in the previous quarter. In addition, the total number of cards (debit / credit/ATM only) in circulation during the fourth quarter reached to 10.52 million which shows anincrease of 0.7 per cent compared to 4.9 per cent increase in the previous quarter.

Continued from page 1No #14

Minister in this connection be presented in the court. The hearing of the case has been adjourned. -OnlineDelayausterity if

growth staysweak: OECDVIENNA: The world econo-my is proving weaker thanexpected in the second halfand countries should consid-er pushing back austeritymeasures if that weaknesspersists, the OECD'sSecretary General said onFriday.

"We had forecast a weak-ening of the recovery in thesecond half," the OECD'sAngel Gurria told reporterson the sidelines of a confer-ence in Vienna. "The ques-tion was how weak was itgoing to be. And I have tosay I think it's been weakerthan we thought."

"In the short term theweakness can be dealt withwith the prolongation ofsome of the monetaryaccommodation in somecountries," Gurria added.

"But if we see that there isa permanence of the weak-ness perhaps then one candelay the entry into force ofthe measures of fiscal con-solidation," he said.-Reuters

bereaved family.Burial of Dr Imran Farooq will take place in Karachi after his body is handedover to the family and brought to Pakistan, Sattar said.

Talking to media men, Dr Sattar said that it is wish of the family and the party that Dr ImranFarooq, be buried in the latter's ancestral city - Karachi, added that MQM is constantly in touchwith the British government in connection with bringing Dr Imran Farooq's body back to Pakistan.

Furthermore, Scotland Yard has launched an inquiry into the murder of MQM leader.Detectives are hunting his attacker and interviewing witnesses. They have secured the CCTV

footage from the part of north London where Farooq lived. In consequence to the murder incident, all major markets, shopping centers, and commercial

areas in the metropolis remained closed on Friday, while Karachi Transportation Authority stoppedall transportation. CNG stations and petrol pumps across the city were also shut down.

Contingents of police and rangers were deployed across the city to cope with any eventu-ality. Police personnel using mobile vans and motorbikes kept on patrolling different areaswhole the day.

Attendance in public and private organizations remained thin. Except University ofKarachi, all the exams scheduled for the day were postponed by the public and private sec-tor educational institutions.

People from areas across Sindh including Mirpurkhas, Nawabshah, Tando Allah Yar andShahdadpur mourned Farooq's death and demanded the immediate arrest of his killers.

Meanwhile, MQM sources said no rallies or protests have been planned as yet, but a schedulewill be announced later.

Meanwhile, President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani and political leadersacross the country have condemned the murder of Dr Imran Farooq and have condoled with thebereaved family.

In their separate messages President Zardari said that Dr Imran Farooq's cold blooded murder iscondemnable. He expressed his heartiest condolence with the bereaved family, while PM Gilani inhis separate message also condemned the murder and said that the incident is a major tragedy.

Chairman Senate Farooq H Naek, Deputy Chairman Senate Mir Jan Jamali, Leader of the Housein the Senate Syed Nayyar Bokhari, Leader of the Opposition in Senate Wasim Sajjad, NationalAssembly Speaker Dr Fehmida Mirza, Deputy Speaker Faisal Karim Kundi, Foreign Minister ShahMehmood Qureshi, Interior Minister Rehman Malik and other ministers and leaders also con-demned the brutal murder of Dr Imran Farooq and offered their heartfelt condolences to thebereaved family and prayed to Almighty Allah to rest the departed soul in eternal peace.

Continued from page 1No #19

Invensys was also a strong gainer, up 3.2 per cent after the firm announced its rail unit had signed adeal with Chinese manufacturer CSR, increasing its exposure to the rapidly growing Asian economy.

"We expect further collaborations to be announced which would logically cover mainline and highspeed and this, in turn, underlines the pivotal position Invensys rail is developing for itself,"Evolution Securities said in a note. Food retailer Sainsbury, up 1.7 per cent was boosted by a UBSupgrade to "buy" from "neutral" Defensive stocks were not exempt from the sell-off, with Shire andutility Scottish & Southern Energy down three and 2.1 per cent respectively.

Britain's top share index is expected to barely rise between now and the end of 2010, but willbounce eight per cent by mid-2011 as support from overseas earnings offsets worries about the econ-omy, a Reuters poll showed. -Reuters

Continued from page 5No #15

The poll was conducted after the central bank had raised rates on Thursday for a fifth time this yearto tame inflation. ICICI Bank and HDFC Bank rose 1.1 per cent and 0.2 per cent respectively, whileState Bank of India edged 0.2 per cent lower. Jet Airways gained 0.6 per cent to 759.40 rupees. DeltaCorp rose 20 per cent to 69.70 rupees. Elder Pharmaceuticals firmed 5.1 per cent to 434.95 rupees.Ispat Industries emerged as the volume leader with 31.6 million of its shares trading during the day,followed by Delta Corp with 10 million shares, and Shree Ashtavinayak with 9.6 million shares.

Foreign funds have bought a net $15.4 billion in Indian equities so far in 2010, adding to theirrecord $17.5 billion purchases last year. The inflows reaffirm investor faith in India's economicgrowth and corporate fundamentals, dealers said. Most emerging stock markets will finish 2010 withmuch stronger gains than their rich world counterparts, according to Reuters polls that showed onlyJapanese and Chinese bourses ending the year in double-digit slumps. -Reuters

Continued from page 5No #16

Oracle Corp and Research In Motion Ltd led the Nasdaq after they posted better-than-expect-ed results and gave outlooks that topped expectations.Oracle shot was up 6.9 per cent at $27.10,while RIM rose nearly two per cent to $47.38. Texas Instruments Inc gained 2.6 per cent to$25.63 after the chipmaker increased its stock repurchase program and boosted its quarterlydividend by eight per cent. The close of trading on Friday marks the quarterly expiration ofSeptember equity futures and option contracts, a convergence known as "quadruple witching",which may increase volume and trading volatility. On Thursday, options had its busiest day ina year, led by a surge in call trading. The total put-to-call ratio, often used to gauge market sen-timent, fell to its lowest level since December 24, 2009. -Reuters

Continued from page 5No #17

GS Yuasa Corp charged up 3.3 per cent to 619 yen after a source close to the discussions said thebattery maker is in talks with Magna International Inc to produce lithium ion batteries for electricvehicles in Europe.Hitachi gained 3.6 per cent to 378 yen after it said it plans to pay a five yen pershare dividend for the April-September first half. It paid no dividend in the same period last year,when it was mired in losses. -Reuters

Continued from page 5No #18

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ISLAMABAD: The US SpecialRepresentative for Afghanistan and

Pakistan Richard Holbrooke hasacknowledged that Pakistan has animportant and legitimate role inAfghanistan.

He was participating in SpecialRoundtable with national and inter-national radio networks hosted byRadio Pakistan in Islamabad Fridaymorning. The Roundtable was host-ed by Director-General RadioPakistan Murtaza Solangi and partic-ipated by representatives of BBC,VOA, DW, FM Power-99, FM-103and a journalist live from Swat.

Replying to a question, Holbrookesaid it is not in the interest ofAfghanistan, Pakistan or the regionthat Taliban takes over in Kabul. Hesaid both Pakistan and Afghanistanwould have to work together toensure stability in Afghanistan.

To a question he said it was diffi-cult to predict outcome of theAfghan parliamentary electionsbeing held tomorrow as there areabout ten candidates against eachseat and they are not organised inpolitical parties.

About corruption in Afghanistan,he said the international community

is not there to eliminate it but eradi-cation is necessary for success of theongoing war on terror.

The US Special Representativepointed out that two months backPakistan and Afghanistan arrived atan understanding on a historic tradeagreement. Afghanistan governmenthas already ratified it and Pakistanwill hopefully do the same soon andthe vast trade opportunities up toCentral Asia would open up forPakistan. He clarified that India wasnot included in the trade arrange-ment because of Pakistani concerns.

Replying to a question about theUS position on situation in Occupied

Kashmir, Richard Holbrooke saidthe United States would encouragedialogue and increased mutualunderstanding between Pakistan andIndia.

Asked to comment on remarksattributed to him by a section of thepress that government of Pakistanwas on board on the issue of droneattacks, Holbrooke said he was mis-quoted. He, however, pointed outthat we face a common threat fromthe militants in the border regionwho are killings Americans inAfghanistan and also people in

Pakistan. They are also trying to pro-voke conflict between Pakistan andIndia and thus present a threat to theregion and beyond. He said we can-not afford to ignore this threat.

Referring to the flood situation inPakistan, the US Special Envoy saidWashington is leading in the reliefphase and it would continue to leadin the early recovery phase as well.He said the United States immediate-ly responded to the unfoldingtragedy in Pakistan and moved heli-copters from Afghanistan and cur-rently 30 helicopters are engaged inrelief activities. He said the UnitedStates is providing aid worth 300million dollars to help tackle theflood situation in Pakistan.

Holbrooke said a decision has beentaken to divert amount from 7.5 bil-lion dollar Kerry-Lugar programmeto help Pakistan meet the emergentsituation created by the devastatingfloods. Already, the United Stateshas directed 50 million dollars fromthis programme for the purpose.

Richard Holbrooke said he hasinteracted with the Pakistani leader-ship to discuss how the US can helpaddress the situation in subsequent

See # 3 Page 11

Pakistan’s Afghan rolelawful, key: Holbrooke

ISLAMABAD: Prime MinisterSyed Yousuf Raza Gilani has saidthat National Oversight DisasterManagement Council (NODMC) hasbeen constituted through nationalconsensus as well as in line withdevolution of powers to the federat-ing units under the 18th Amendmentto the Constitution.

He said the NODMC consists ofpeople of impeccable integrity andrepute and its members are nominat-ed by federal as well as all theprovincial governments includingAJ&K and Gilgit-Baltistan. Underits Terms of Reference, he added,NODMC is fully empowered toensure transparency, accountabilityand judicious utilisation of the for-eign assistance for the reconstructionand rehabilitation of the flood affect-ed areas.

The Prime Minister was talking toAmbassador Richard Holbrooke, USSpecial Representative for Pakistanand Afghanistan who along with adelegation called on the PrimeMinister at the PM's House hereFriday afternoon.

The Prime Minister said that

NODMC is totally a non-govern-mental and non-political body hav-ing support of all political partiesand endorsed by the Council ofCommon Interests.

He added that the NODMC is inaddition to the already existingaccountability mechanism like theAuditor General and the PublicAccounts Committee.

The Prime Minister said that it is amatter of satisfaction that all thepolitical parties and civil societiesare making efforts to help theirbrothers at these trying times. Heupdated the US delegation about thecurrent situation in the flood affectedareas. He thanked the US leadershipand military for their generoushumanitarian assistance to mitigatesufferings of Pakistan's floodaffectees.

He appreciated the fact that the USwould be announcing a comprehen-sive package for the rehabilitationand reconstruction phases in theflood affected areas during the forth-coming FoDP Ministerial meeting inBrussels from October 14-15, 2010.

He said that government of

Pakistan is also raising financesthrough indigenous resources tomeet the expenditure required for thereconstruction and rehabilitation ofthe flood affected areas.

The Prime Minister expressed thehope that the US would also expeditereimbursement of pledged assistanceagainst Kerry Lugar Bill and thelong overdue payments of CoalitionSupport Fund.

While noting that EU Council haddecided for WTO trade concessionspecifically for Pakistan, the PrimeMinister urged the US governmentfor helping Pakistan in lobbying fora positive decision for greater accessto Pakistani products in the EU mar-kets.

The Prime Minister reaffirmed thatdespite the catastrophic conse-quences of floods on Pakistan'seconomy, his government remainsresolutely committed to pursue thewar against terror. While referring toPresident Karzai's recent visit toPakistan, the Prime Minister statedthat he was of the firm belief that apeaceful, stable and economically

See # 1 Page 11

PM says NODMCan apolitical body

Qureshicondemns

India forces’IHK atrocitiesISLAMABAD: Foreign MinisterShah Mehmood Qureshi whilestrongly condemning the Indian bru-talities in Occupied Jammu &Kashmir said that gross and system-atic abuse of human rights andIndian repression in Kashmir mustend.

In a statement here on Friday, theminister called on the government ofIndia to exercise restraint.

"Pakistan takes a serious note ofthe deteriorating situation in Indianoccupied Kashmir. The indigenousmovement in Jammu and Kashmirhas gained a new momentum andurgency," he said.

He said that Kashmiris were unan-imous in their demand for

See # 4 Page 11

ISLAMABAD: The first SteeringCommittee Meeting of the Multi-Donor Trust Fund (MDTF) forKhyber Pakhtunkhwa (KP), theFederally Administered Tribal Areas(Fata) and Balochistan took placeFriday to approve a financing strate-gy for the $130 million fund.

The World Bank administeredMDTF was established at the requestof the government to support recon-struction and peace-building initia-tives in crisis affected areas of KP,Fata and Balochistan. Donors also

agreed that the fund, which becameoperational recently, should also beused to address urgent needs arisingfrom recent flooding in theseprovinces and Fata.

"The trust fund is a good instru-ment for ensuring better coordina-tion among the donors and the gov-ernment, thereby enhancing devel-opment effectiveness and also reduc-ing transaction costs," said RachidBenmessaoud, the World BankCountry Director for Pakistan.

Australia, Denmark, the European

Union, Finland, Germany, Italy,Sweden, Turkey, UK, and the USAhave agreed to pool a total of $130million through the fund to supportthe two provinces and Fata. Thefinancing plan was designed basedon the preliminary findings of thePost Crisis Need Assessment(PCNA) and on the developmentplans of the federal and provincialgovernments.

"We appreciate the support of thedonor partners and assure them that

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MDTF meeting for rehab funding held

GENEVA: Though the risk of deathfrom waterborne diseases is veryhigh, but Pakistan is so far safe fromthe raft of causalities as a result ofrapidly spreading contagions, saysWorld Health Organisation.

WHO's representative toldreporters in Geneva by phone Fridaythat malaria and measles also pose animmediate risk in the flood-hit coun-try.

Dr Guido Sabatinelli says a fearedsecond wave of deaths from flood has

so far failed to materialise. The ''risk is very high'' that water-

borne diseases such as cholera couldspread and cause large numbers ofdeaths, he warned.

Dr Sabatinelli says there have been57 confirmed cases of the disease inrecent weeks.

He says a long-term concern is mal-nutrition, which already affectedlarge numbers of children in ruralareas before the floods and is likely toworsen due to the disaster. - Agencies

Waterborne diseases tocause more deaths: WHO

LAHORE: Punjab governmentrectifying the decision regardingtwo holidays in a week issued noti-fication to extend two weekly hol-idays till its next directive.

According to media reports, itwas expected that Punjab govern-ment would annul two weekly hol-idays as Punjab government firstdecided to restore two weekly hol-idays till August 31 and laterextend it to September 12 and afterEidul Fitr vacations, it was expect-

ed that Punjab government wouldend two weekly holidays.However, with the approval ofChief Minister Mian ShahbazSharif Punjab government issuednotification here on Friday tomaintain two weekly holidays tillnext directive from Punjab govern-ment.

While federal government hadalready issued notification toextend two weekly holidays tillOctober 31. -Online

Punjab to have 2 off-daystill further orders

ISLAMABAD: A fake notificationon hike in power tariff by NationalElectric Power Regulatory Authority(Nepra) from 21 paisas to Rs6.18 hascome to light while Nepra hasrefused to accept any responsibilityin this connection.

It has come to notice that a fakenotification of raise in power tariffhas been issued by Nepra’s tariffbranch without approval and in theabsence of registrar Nepra, SafirHussain.

When contacted by Online, Nepraregistrar office told registrar was onleave and notification about enhance-ment in power tariff was not in hisknowledge. DG Tariff Saeed Insaf

was contacted and he expressed hisignorance about issuance of this tariffsaying that director Admn, QamarAbbasi could tell better about it.

When Qamar Abbasi was contact-ed he also expressed his ignoranceabout the issue of any notificationsaying director coordinationHammad Saleemi was actingspokesman and this matter would bein his knowledge. Hammad Saleemiwas not found present in his officeand his staff members told that suchnotification was also not in theirknowledge. Sources told Nepra hadnot issued any notification about hikein tariff and if any notification hadbeen issued it was fake. -Online

Nepra disownstariff hike notice

PSO buys650,000 tonne

oil for Oct-NovSINGAPORE: Pakistan State Oil(PSO) bought up to 650,000tonnes of fuel oil for October-November delivery via its regulartender, down from above 1 milliontonnes previously, traders said onFriday.

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CJ calls meetfor judges

security todayISLAMABAD: Chief Justice ofPakistan Iftikhar MuhammadChaudhry has convened a meetinghere on Saturday to ensure judge'ssecurity after news about allegedplanning to kill KhawajaMuhammad Sharif, Chief JusticeLahore High court.

As per details, in wake of possiblekilling attacks on judges and revela-tion of plot to kill KhawajaMuhammad Sharif, Chief JusticeLahore High Court, CJ has

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ISLAMABAD: Prime Minister Syed Yousaf Raza Gilani talking to US Special Reporesentative for Afghanistan and

Pakistan/Ambassador Richard Halbrooke who called on him at PM House. -APP