International

Iran opens N-sites to world powers See on Page 12

Cotecna Reference: Former FBR head indicted See on Page 12

Petition filed in SHC against POL price hike See on Page 12

*Crude Oil (brent)$/bbl 95.16

*Crude Oil (WTI)$/bbl 91.35

*Cotton $/lb 142.64

*Gold $/ozs 1,396.00

*Silver $/ozs 30.31

Malaysian Palm $ 1,269

GOLD (NCEL) PKR 39,070

KHI Cotton 40Kg PKR 9,645

Yearly(Jul, 2010 up to 13-Jan-2011)

Monthly(Nov, 2010 up to-13-Jan-2011)

Daily (1-Jan-2011)

Total Portfolio Invest (24 Dec-2010)

198.983.583.582878

1.30-4.1911.01-1.49-0.53-5.53-0.57

SCRA(U.S $ in million)

Portfolio Investment

FIPI (4-Jan-2011)

Local Companies (4-Jan-2011)

Banks / DFI (4-Jan-2011)

Mutual Funds (4-Jan-2011)

NBFC (4-Jan-2011)

Local Investors (4-Jan-2011)

Other Organization (4-Jan-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (27-Dec-10)

Inflation CPI% (Jul 10-Nov 10)

Exports (Jul 10-Nov 10)

Imports (Jul 10-Nov 10)

Trade Balance (Jul 10-Nov 10)

Current A/C (Jul 10- Nov 10)

Remittances (Jul 10 - Nov 10)

Foreign Invest (Jul 10-Nov 10)

Revenue (Jul 10-Nov 10)

Foreign Debt (Sep 10)

Domestic Debt (Nov 10)

Repatriated Profit (Jul- Nov 10)

LSM Growth (Oct 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.42bn14.44%$8.88bn

$15.37bn$(6.49)bn$(504)mn

$4.43bn$746mn

Rs 495bn$58.41bn

Rs 5348.6bn$287.9mn

-2.81%4.10%$1,051

171.45mn

Economic Indicators

SymbolsMCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price2.6022.512.001.7011.09

PKR/Shares

111.31192.7342.8136.3937.98

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

29-Dec-2010

29-Dec-2010

29-Dec-2010

29-Nov-2010

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

04-Jan-2011

13.20%13.41%13.73%14.00%13.23%13.46%13.64%13.99%14.13%14.21%14.25%14.31%14.56%14.76%14.93%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 85.90 87.20 Canadian $ 85.70 86.80 Danish Krone 15.00 15.10 Euro 113.60 115.20 Hong Kong $ 10.70 10.80 Japanese Yen 1.039 1.065 Saudi Riyal 22.75 22.90 Singapore $ 65.50 66.50 Swedish Korona 12.10 12.80 Swiss Franc 86.90 87.10 U.A.E Dirham 23.25 23.45 UK Pound 132.00 133.00 US $ 85.65 85.95

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.65 86.85 Canadian $ 86.23 86.43 Danish Krone 15.34 15.38 Euro 114.36 114.63 Hong Kong $ 11.01 11.04 Japanese Yen 1.052 1.054 Saudi Riyal 22.81 22.87 Singapore $ 66.54 66.70 Swedish Korona 12.79 12.82 Swiss Franc 91.49 91.71 U.A.E Dirham 23.29 23.35 UK Pound 132.61 132.92 US $ 85.62 85.80

Inter-Bank Currency Rates

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Global Indices

Gilani sees nothreat to govt

See on Page 12

Karachi, Wednesday, January 5, 2011, Muharram-ul-Haram 29, Price Rs12 Pages 12

ISLAMABAD: Counsel forthe Oil and Gas DevelopmentCompany Limited andPakistan Petroleum Limitedapprised the Supreme Court ofPakistan here Tuesday that thegovernment had no intention topurchase $800 million assets ofthe British Petroleum.

They assured the court thattheir clients would not buy theassets at higher prices as theirbidding was already low,which had not been enter-tained.

A three-member bench head-ed by Chief Justice IftikharMohammad Chaudhry dis-

posed of the petition, whichwas filed by former Jamaat-e-Islami Amir Qazi HussainAhmed.

Qazi Hussain Ahmed hadfiled a plea against the govern-ment's bid to purchase its sold-out assets from the BritishPetroleum (BP) at higher rates,and claimed that it would causea loss of $800 million to thenational exchequer.

His counsel had contendedthat the government had firstsold the assets to the samecompany at a low price andnow was buying it at an exorbi-tant price. -APP

Govt not buyingBP asset, SC told

Aamir Abidi

KARACHI: The disruption insupply of food chain alongwith increasing commodityprices is expected to causeDecember 2010 consumerprice index (CPI) inflation tojump at 17.1 per cent YoY,pushing MoM CPI inflation to0.93 per cent.

Perishable foods items i.e.tomatoes, egg, vegetable gheeprices increased 98.6, 5.64 and3.13 per cent MoM along withthat of non-perishable fooditems i.e. wheat & rice prices

hiked 0.53 and 0.57 per centMoM.

On the other hand, SBP tight-ening is diluting the effective-ness of monetary policy due tohigh-level of government bor-rowing from the SBP.

While rising security andflood-related expenditures andcontinued power sector subsi-dies are one aspect of the prob-lem of rising fiscal deficit andultimately rising inflation.

Of the Rs398 billion expan-sion in M2 till 18th December2010 during the current fiscal

See # 12 Page 11

Dec CPI maytouch 17.1pc

Inflation likely to cross 19-month high

ISLAMABAD: PML-NQuaid Mian Nawaz Sharif hasgiven six days to PrimeMinister Syed Yousuf RazaGilani to accept or reject ashort-term eleven-point agen-da for implementation within45 days to bring an end to cor-ruption and provide relief tothe masses.

Addressing a press confer-ence after a meeting of his

party's Central OrganisingCommittee here Tuesday,Mian Sharif said that if theresponse of the Prime Ministerwas in the negative, the PML-N would remove the PPP fromcoalition in Punjab govern-ment.

Listing the short agendaMian Nawaz Sharif demandedimmediate withdrawal ofrecent hike in POL prices and

devising a system aboutincrease in electricity, gas andPOL prices to avoid frequentburden on the common man;effective check on corruption,removal of favorites appointedas heads of loss making publicsector enterprises and appoint-ment of efficient and honestpeople in their place, an effec-tive price control system beevolved to provide relief to the

people; decisions of the SC onNRO and other issues be fullyimplemented; election com-mission be reformed and madefully independent to ensurefree and transparent elections ;30 per cent reduction in gov-ernment expenditure immedi-ately and bringing down thenumber of Cabinet Ministers;investigation into Hajj scam,NLC, sugar mafia, Augusta

submarine, Pakistan SteelMills, Insurance and PunjabBank scandals' establishmentof an independent accountabil-ity commission, recovery ofbillions of rupees of write offloans and ensuring sovereigntyof the country.

He said this is part of com-prehensive political reformsagenda for the country thatalso includes accountability of

Pervez Musharraf for violatingconstitution; complete elimi-nation of corruption from FBRto recover billions of rupees oftax evasion and corruption,establishment of private boardof governors in all state enter-prises, transparency in defencebudget and a plan to resolveenergy crisis.

Mian Nawaz Sharif said See # 15 Page 11

'N' gives Gilani 6 days on reformsSharif spells out eleven-point agenda, Says option open to go to masses for fresh mandate

Acting USAfPak envoyarrives todayISLAMABAD: Acting USspecial representative forPakistan and Afghanistan,Frank Ruggiero is arriving inIslamabad on his maiden visitto the region on Wednesday(today).

Diplomatic sources say thatFrank Ruggiero assumed thepost of Acting US special rep-resentative for Pakistan andAfghanistan following thedeath of predecessor RichardHolbrooke last month.

According to the diplomaticsources Ruggiero, who wasHolbrooke's deputy until thedeath of the veteran diplomatwould arrive in Pakistan onJanuary 5 (today) amid politi-cal chaos in the country.

During his visit, the USenvoy will hold talks with thecountry's top political and mili-tary leadership on the current

See # 13 Page 11

6 SHCjudges get

1yr extensionKARACHI: Supreme JudicialCouncil has awarded one-yearextension to six judges ofSindh High Court. LawMinistry has issued the notifi-cation in this regard.

As per details, SJC extendedthe one-year service of sixadditional judges of SindhHigh Court including JusticeShahid Bajwa, Justice Ghulam

See # 14 Page 11

ISLAMABAD: GovernorPunjab Salman Taseer wasassassinated on Tuesday after-noon by one of his guards ofElite Force.

Late Governor PunjabSalman Taseer was assassinat-ed by one of his guards of eliteforces in the federal capital F-6after he was coming out of arestaurant after eating lunchwith one of his friends.

The elite force security manidentified as Malik MumtazQadri emptied the entire burstof his automatic SMGKalashnikov into the Governorinjuring him critically.

He was taken to a hospital,where he died, apparently fromblood loss. The elite forcesecurity man Malik MumtazQadri surrendered before thepolice immediately.

Interior Minister RehmanMalik told that Taseer wasassassinated because he spokeout against blasphemy law.

Mumtaz Qadri told the policethat he had assassinated theGovernor due to his blasphe-

mous statements.See # 10 Page 11

OPENNESS COSTS TASEER LIFEGuard kills Governor Punjab; says Taseer spoke against blasphemy law

Other guards also detained; President, PM condemn; order high-level probePPP announces 2-week mourning, suspends all political activities

Taseer’s life in a glimpse

ISLAMABAD: PunjabGovernor Salman Taseer, whowas shot dead in an attack atKohsar Market here Tuesday,was appointed Governor onMay 15, 2008. He was 64.

Salman Taseer belonged toa respectable and intellectualfamily and he had obtained a

See # 8 Page 11

Angry supportersstage protests

ISLAMABAD: Hundreds ofPPP supporters took to streetsin different cities includingLahore, Sargodha, Multan,Toba Tek Singh, Sialkot,Okara, Rahimyar Khan,Gujranwala and Karachi afterthe assassination of PunjabGovernor Salman Taseer byhis own security guard inIslamabad

US envoy deploresassassination

ISLAMABAD: USAmbassador to PakistanCameron P Munter hasoffered condolences on theassassination of PunjabGovernor Salman Taseer.

In a statement issued hereon Tuesday, he said "Taseerhad the courage of his convic-tions and was a champion oftolerance. His death is a greatloss to the people of

See # 9 Page 11

Musharrafgrieves over

assassinationABU DHABI: Chief of AllPakistan Muslim League,(APML) Pervez Musharrafwhile expressing grief overthe assassination of GovernorPunjab, Salman Taseer hassaid that this was not only lossof the PPP but the whole

See # 7 Page 11

Taseer received

27 bulletsISLAMABAD: PunjabGovernor Salman Taseerreceived at least 27 gunshotbullets on his body, accordingto initial post mortem report.

His body was transported toPakistan Institute of MedicalSciences (PIMS) for detailedpost mortem.

Murder raisesbrows over

securityISLAMABAD: After theassassination of PunjabGovernor, Salman Taseer inthe hands of his own personalsecurity guard, military andsecurity personnel have beenovercome with deep appre-hensions and concerns

See # 6 Page 11

ISLAMABAD: The represen-tatives of fertiliser companiesTuesday attributed the hike inthe prices of urea to gas load-shedding and assured the gov-ernment that if the gas wasrestored they would take theprice increase back.

In may be mentioned herethat Prime Minister Gilani hadtaken a serious view of therecent price hike in urea.

In this connection, a meetingof the Price Review Committeewas held here under theChairmanship of Minister forIndustries and Production MirHazar Khan Bijarani.

The meeting was attended bythe Minister for Food andAgriculture, Minister forAgriculture Punjab, SecretaryAgriculture Sindh, Senior offi-cers from Finance, MINFA,

Petroleum and NaturalResources and Ministry ofWater and Power, PlanningCommission, NFC and theFertilizer Manufacturers, saysa statement issued by theMOIP.

Representatives of the fer-tiliser sector on the occasionclarified that the price increasewas due to the 45 days wintergas load-shedding instead of30 days; gas curtailment of 20per cent on Sui based plantsand 12 per cent gas curtailmenton Mari based plants sinceMay 2010.

They assured that if the gaswas restored they would takethe price increase back. Themeeting looked into the differ-ent possibilities of improvinggas supply to the fertiliser

See # 11 Page 11

Urea-makers setto reduce prices

After restoration of gas to companies Shoaib,Danish offPakistan

WC squadLAHORE: The career of for-mer Pakistan cricket captain,Shoaib Malik appeared to meeta premature end when he, alongwith spinner Danish Kaneriawas axed from Pakistan's 30-member preliminary squadnamed here on Tuesday for next

month's World Cup. It seemed that both of them

failed to satisfy the PakistanCricket Board's integrity com-mittee, contrary to wicketkeeperKamran Akmal who got the nodof selectors. PCB selectioncommittee finalised the list ofprobable players for World Cupone day ahead of the extendeddeadline set by game's RulingBody, the ICC to submit thenames.

See details on Page 10

Special CorrespondentISLAMABAD: Government's expenses consis-tently on the rise and if the trend goes on it willonly lead to wider budget deficit.

This was expressed by Governor State Bank,Shahid Hafeez Kardar while briefing Senate'sStanding Committee on Finance here Tuesday.Senate Standing Committee meeting was chairedby Senator Ahmed Ali.

Governor State Bank of Pakistan told the com-mittee if government expenditures remain on thehigher side, then fiscal deficit may reach to 6 percent of the gross domestic product. GovernorSBP informed that during the current fiscal rev-enues were increased by 7 per cent whereas gov-

ernment expenses rose by 9 per cent.Kardar added that government has borrowed

Rs374 billion for its expenses from the centralbank, whereas for the purchase of commoditiesRs366 billion more had been borrowed whileRs368 billion extra also loaned for public sectorentities. Governor central bank said that govern-ment still paying monthly Rs20 billion subsidyon power while Rs29 billion annual subsidybeing paid on urea. On the occasion FederalSecretary Finance told the Committee that subsi-dies on power sector and security-relatedexpensed are the biggest ingredients to the risinginflation, added that circular debt in the powersector has reached to Rs145 billion so far.

Govt blamed for fiscal deficit

2 Wednesday, January 5, 2011

TV PROGRAMMES

WEDNESDAY

Time Programmes

7:00 News8:00 News9:05 Subah SavereMaya ke Sath11:00 News12:00 News13:10 Newsbeat (Rpt)14:10 Tonight With

Jasmeen (Rpt)15:00 News16:00 News17:30 Samaa Metro18:00 News18:30 Samaa Sports19:30 Crime Scene20:03 Newsbeat21:00 News22:03 Tonight With

Jasmeen23:00 News23:30 24

ISLAMABAD: As part ofits enforcement and regu-latory function, theEnforcement Departmentof the Securities andExchange Commission ofPakistan passed 37 orders,fining defaulting compa-nies besides issuance of 29show-cause notices inDecember.

The department imposedpenalty of Rs4.425 millionon listed and unlisted com-

panies in December fornon-compliance with vari-ous provisions of the 1984Companies Ordinance, andRs2.2 million for non-compliance with variousprovisions of the 2002Listed Companies(Substantial Acquisition ofVoting Shares andTakeovers) Ordinance. Thedepartment also resolved40 investors' complaintsduring the month.-PR

SECP fines 37defaulting cos

KARACHI: The third Oiland Gas Pakistan 2011Forum on the theme"Focusing on EnergyIssues and Opportunities toSecure Pakistan's Future"will be held on January 29in Islamabad.. TheMinistry of Petroleum andNatural Resources,Government of Pakistanalong with PLATTS,world's leading provider ofenergy and metals infor-

mation, and leading globallocal companies areexpected to play a leadingpart in the conference.

The moot is designed forPakistan-based and inter-national oil & gas/energycompanies to come togeth-er and work towards a sus-tainable operational frame-work for ensuring steadiermarkets and prices duringthe challenging days tocome.-PR

Oil & GasForum on 29th

EVERETT: Boeing hasagain partnered with QatarAirways and the non-profitglobal health and disasterrelief organization,AmeriCares to deliver a sec-ond consignment of reliefsupplies to areas in Pakistanthat are still recovering fromthe massive floods that rav-aged the country in August.The first shipment was deliv-ered in September 2010.

A consignment of about35,000 pounds (15.8 metrictones) of medical supplieswas loaded into the cargohold of the new Boeing 777-300ER delivered to QatarAirways. The airline will

subsequently ship the reliefgoods from Doha, Qatar toPakistan.

"This is the second timethis year that Boeing is part-nering with Qatar Airwaysand AmeriCares to bringrelief to the people who arestill suffering from the after-effects of the floods," said LizWarman, director of GlobalCorporate Citizenship -Northwest Region, Boeing.

"Providing timely medicalcare is critical; though thefloods have receded, the aftereffects such as sickness anddisease continue to affect thepeople in these disasterzones."-PR

Qatar Airways tocarry relief goods

Staff Reporter

KARACHI: TheFederation of PakistanChambers of Commerceand Industry has stronglyurged the Government toimmediately cut down itsspending and also need totake corrective measures tocontain the POL productscharges on war footingovercome the rising elec-tricity and gas shortfall as ithas created new threats tothe survival of businessesand the overall economy.

This was stated by

President FPCCI SenatorHaji Ghulam Ali, TariqSayeed' former PresidentFPCCI,.S.M.Muneer andVice Presidents KhalidTawab, Dawood UsmanJhakurra, Usman Shaikhand Akber Khan in a meet-ing to discuss the recentIncrease by (OGRA) atFederation House, Karachi.

President FPCCI SenatorHaji Ghulam Ali suggestedthat the Government musttake necessary steps tofacilitate the industrialgrowth and to adapt thepolicies through which

would strengthen the econ-omy. He added that FPCCIwill soon give a 10 pointagenda to the governmentfor bringing stability andsustainable growth of theeconomy.

S M Muneer said thatprice hike in petroleumproducts will trickle downto all other products andadd to the burden of poorpeople, who can hardlyafford one meal a day. Heblamed the government'seconomics policies for theincrease in the poverty inthe country.

Curtail expenses,contain prices,

FPCCI tells govt

Staff Correspondent

LAHORE: DeutscheBank Tuesday announcedthe appointment of FaizanMitha as ManagingDirector and ChiefCountry Officer forPakistan. He will succeedShazad Dada.

As Chief CountryOfficer, Mitha will haveresponsibility forDeutsche

Bank in Pakistan acrossall businesses and willmanage the Bank's opera-

tions in the country fromKarachi. He will report toRobert Rankin, ChiefExecutive Officer for AsiaPacific (ex Japan).

Mitha has 25 years ofexperience in the financialindustry, most recently asGroup Executive, GlobalTreasurer for Habib BankLimited in Pakistan. Priorto that role, Mitha heldsenior positions at a num-ber of international finan-cial institutions acrossSouth Asia, the MiddleEast, and Europe.

Deutsche Bank com-menced operations inPakistan in 1961. Today,the Bank employs over 70people in the country, withoffices in Karachi, Lahore,and Islamabad. The Bankoffers a comprehensivesuite of investment bank-ing and commercial bank-ing products and servicesin Pakistan and is a leaderin capital markets, havingrecently been ranked thetop international broker inthe country by marketshare.

Deutsche Bankappoints new MD

Staff Correspondent

LAHORE: In an epoch-making move the LahoreChamber of Commerce andIndustry Tuesday laid thefoundation stone for the con-struction of 150 houses inflood-hit villages in districtLayyah. The total estimatedcost of the project, to becompleted in a record timeof three months, is Rs 20million.

The LCCI delegation,headed by its PresidentShahzad Ali Malik, com-prised Senior Vice PresidentSheikh Mohammad Arshad,Executive Committee mem-

bers Mian Zahid Javaid,Marghub Shakir Izhar, DrShahid Raza, KhawajaKhawar Rashid andChaudhry Wajid Ali.

The delegation visitedfour sites including BastiSiraee Shumali, BastiManchar Mohana, ChakShahni and Basti Shahni andafter a detailed discussionwith the districtAdministration, it wasdecided that the LahoreChamber of Commerce andIndustry would initiate con-struction in Basti MancharMohana and Shahbazabad.Basti Manachar Mohana isthe most affected area where

the residents are spendingtheir lives in camps.

By laying the foundationstone of this mega project,the Lahore Chamber ofCommerce and IndustryTuesday became the firstChamber of Commerce inthe country to initiate con-struction in flood affectedareas.

At first stage 40 houseswould be constructed onemergent basis in BastiManchar Mohana where thedevastation due to floods isabout 90 per cent while onthe second stage a ModelVillage would be construct-ed at Shahbazabad.

LCCI to build homesfor flood affectees

Staff Reporter

KARACHI: TradeDevelopment Authority ofPakistan (TDAP) is await-ing funds to the tune ofRs7 billions to be releasedfrom Export DevelopmentSurcharge (EDS) held upby Ministry of Finance fol-lowing which the TDAPwould be able to carry outits export-oriented plansbesides releasing theamounts of subsidies to theexporters, this was statedby Chief Executive,TDAP, Tariq Iqbal Puri.

Addressing a luncheonmeeting at Korangi

Association of Trade andIndustry (KATI) onTuesday, the TDAP chiefsaid that Pakistan wouldcross the barrier of $20 bil-lion exports this year.

He said TDAP hasmany export-orientedprojects in pipeline andafter receiving funds, theywould be implementedsoon. He said that TDAP isplanning to take part in asmany as 80 internationalexhibitions abroad out ofwhich 25 exhibitionswould be held in China.

He said China hasoffered free stalls in someof these exhibitions. He

said that China would bethe focus country forTDAP during 2011 asChinese market is muchlucrative than other coun-tries and Pakistan's hometextile and other itemshave a big potential ofexport.

He announced thatBoard of Directors ofTDAP would soon bereconstituted and promi-nent personalities wouldbe taken into the board thistime.

He said it was beingconsidered to split theExpo Pakistan exhibitioninto 5 to 7 sectoral exhibi-

tions this year and propos-als are being invited fromtrade bodies in this regard.He said that TDAP is plan-ning to carry out assistanceand funding plan to non-traditional items' manufac-turers with the financialassistance of USAID.Replying to a query by for-mer Chairman KATI,Mian Zahid Husain aboutexport of lubricants andother petroleum products,he said it was brilliantidea and he should submitproposals in this regard sothat lubricants could alsobe included in export com-modities.

TDAP awaiting release of Rs7bn

Export target of $20bn tobe achieved this year: Puri

WEDNESDAY

Time Programmes

8:00 Chai Time (Rpt)9:00 News9:15 Pehla Sauda10:00 News 10:15 Bazaar11:00 News11:05 Ghar Ka Kharch12:00 News12:15 Power Lunch13:00 News13:05 Islamabad Say(Rpt)14:00 News15:02 Akhri Sauda15:30 Aap Ka Paisa(Rpt)16:15 Karobari Dunya17:05 Ghar Ka Kharch

(Rpt)18:05 Chai Time19:00 News19:30 Mang Raha Hai

Pakistan 20:00 News20:05 Islamabad Say 21:00 Pakistan Aaj Raat22:00 News22:05 Doosra Pehlu23:00 News23:05 Badalta Pakistan

(Rpt)0:00 News

KARACHI: Chief Minister Sindh Syed Qaim Ali Shah having a meeting regarding law and order situationof Karachi with Federal Minister for Interior A Rehman Malik at Chief Minister House.-Online

KARACHI: TDAP Chairman Tariq Iqbal Puri adressing a lunchen meetingat KATI.-Staff Photo

KARACHI: Shan Foods Private Limited has won prestigious Consumer ChoiceAwards 2010 for best packed spices category. The event was largely attended by

prominent businessmen, media and luminaries of the city. Federal MinisterMakhdoom Amin Fahim was chief guest. Picture shows Faisal Mubin Ganatra,Chief Financial Officer, Shan Foods Private Ltdreceiving the Consumers ChoiceAward from the Minister. Kaukab Iqbal, Chairman, Consumer Association of

Pakistan is also seen in the picture.-Staff Photo

KARACHI: DCO Mohammad Hussain Syedtalking to officials of EDO Master Plan department

during a visit.-Staff Photo

Marriott'sRegional

FoodFestivalfrom 6thStaff Correspondent

KARACHI: KarachiMarriott Hotel is organiz-ing regional food festivalfromJanuary 6-8 at the poolMarquee.

Karachi Marriott Hotel,has always been ahead inpromoting the culture ofother countries and when itcome to Mother Land,Pakistan, the sentimentsare much more warm andenthusiasm is acceleratingbecause we take pride infreedom! Our country isrich in culture and our foodis tastiest of all. Regionalfood festival will celebratethe colorful culture ofcountry and this will behighlighted in electronicand print media. This eventwill be a huge crowd pullerfor families along with thecorporate clients.

Shazia Marri will bedoing the ribbon cuttingceremony for this festivalon Jan.6.

ZAB's83rd birth

anniversarytoday

ISLAMABAD: PakistanPeople's Party (PPP) willobserve 83rd birthanniversary of PPPfounder Shaheed ZulfiqarAli Bhutto today.

According to details, PPPwill arrange ceremoniesand cut the cakes of Birthanniversary in fourprovinces and GilgitBaltistan PPP headquarters.

The PPP leaders will paytribute to ZA Bhutto serv-ices for country.

ZA Bhutto was born inLarkana in January 5,1928. He was the founderof largest political party ofPakistan (PPP) and he hadserved the country asForeign Minister andPrime Minister. ZA Bhuttowas hanged in 1979 in Ziaul Haq era.-Online

JS suesCDGK

officials fordefamation KARACHI: Leading busi-nessman Jahangir Siddiquihas filed a lawsuit for dam-ages wortht Rs. 5 billionagainst Mustafa Jamal QaziAdditional EDO (Revenue)City District GovernmentKarachi and GhanwarLeghari Director Anti-cor-ruption Sindh for involvinghim in a land scam.

The Sindh High Courthas issued restrainingorders toofficials con-cerned from making, pub-lishing or broadcasting anynews item, which is falseor defamatory againstJahangir Siddiqui, his fam-ily members and his busi-nesses, says a pressrelease.-PR

Johar wasa greatleader:

SharmilaKARACHI: Advisor toChief Minister Sindh onInformation SharmilaFaruqui has said thatMaulana Muhammad AliJohar was a great journal-ist, political leader, fieryorator and pro-Islam leaderand his role during KhilafatMovement has been docu-mented in the history withgolden words.

She said this whileaddressing as chief guest atKarachi Press Club at 80thdeath anniversary ceremo-ny, organized by JoharFoundation. She said therewere a lot of things for newgeneration to learn from hispersonality becauseMaulana believed indemocracy, was a fierypro- democratic person andstruggled against undemo-cratic forces and in thesame way as PakistanPeoples Party had alwaysstruggled against dictatorsand written the history ofdemocracy in Pakistan withblood.-Online

Pakistan’sBest Yearin MangoExports

ISLAMABAD: Membersof Pakistan's mango indus-try gathered at a conferencein Islamabad Tuesday tocelebrate the successful2010 mango season- thebest year in the history ofthe country's mangoexports.

With US support,Pakistani mango growersbegan exporting their pro-duce to European markets,upgraded infrastructureand methodologies, and setup systems for shipmentsto the United States.

According to a pressrelease issued hereTuesday, with annual pro-duction exceeding 1.5 mil-lion tons, and demandgrowing around the world,Pakistan's mango sectorhas tremendous potentialfor growth.

Increased mango exportswill directly benefit twomillion Pakistanis, raiserevenues for numerousbusinesses, generateemployment, and boost theeconomy throughoutPakistan, especially inSouthern Punjab andNorthern Sindh.-Online

Shan Foods wins Consumers Choice Award

Trainingship

inductedin PN fleetKARACHI: PakistanNavy Tuesday inducted anexclusive training ship PNSRahnaward into its fleet.The ship has been acquiredfor training of cadets andsailors. Chief of the NavalStaff Admiral NomanBashir was the Chief Gueston the occasion.-Online

MUMBAI: The Indian rupeebounced off a one-and-halfmonth high on Tuesday andslipped to a one-week low, track-ing weak shares, with largedemand for dollars towards cor-porate outflows and somedefence-related demand weigh-ing.

The partially convertible rupeeclosed at 44.98/99 per dollar,after hitting 44.99, its weakestsince Dec. 29 and 0.6 per centbelow Monday's close of44.70/71. In early trade, therupee had risen to 44.60, itsstrongest since Nov. 12.

"There was good dollar buyingseen from early part of the ses-sion today. Some big corporateswere heard of, but lots of confu-sion over the sudden buyingtoday," said HariChandramgathan, a senior for-eign exchange dealer withFederal Bank.

Traders said there was somedollar buying by state-run bankslikely for some defence-relatedpurchases of the government.

There was good dollar buyingseen from foreign banks as well,which could have been custodialflows due to selling in the equitymarket, traders said.

Foreign institutional investorsbought about $896 million worthof shares in the last six tradingsessions in 2010, taking total

investments in the year to arecord $29.3 billion, comparedwith the $17.5 billion net inflowin 2009.

The rupee rose 4.1 per cent in2010, compared with a 4.7 percent rise in 2009. In the firsttrading session of 2011, foreignfunds bought 95.71 billionrupees.

One-month offshore non-deliverable forward contractswere quoted at 45.24, weakerthan the onshore spot rate.

One-year onshore forward pre-mium closed at 255.25 points,after rising to 262 points earlierin the day and above itsMonday's close of 261.75 points.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange and MCX-SX closedat 45.1725 and 45.18 respec-tively, with the total traded vol-ume on the two exchanges at$5.7 billion. -Reuters

Indian rupee downas shares weaken

3Wednesday, January 5, 2011

Currencies Rate

Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 04/01/2011A USD GBP CAD EUR JPY

O/N 0.24688 0.55938 0.92500 0.34875 SN 0.094381WK 0.25438 0.57063 0.99000 0.51000 0.102882WK 0.25656 0.57438 1.04667 0.56875 0.109381MO 0.26063 0.58875 1.10000 0.70625 0.122502MO 0.28250 0.64625 1.15000 0.81375 0.150003MO 0.30281 0.75750 1.23333 0.93750 0.186884MO 0.34750 0.84000 1.30500 1.00750 0.242885MO 0.40250 0.94500 1.36833 1.09063 0.300006MO 0.45581 1.05188 1.44167 1.18125 0.347507MO 0.50813 1.12750 1.51000 1.23000 0.397508MO 0.56063 1.21313 1.58333 1.28500 0.441889MO 0.61375 1.29375 1.64833 1.33375 0.48750

10MO 0.66625 1.37438 1.72667 1.38500 0.5131311MO 0.72063 1.44313 1.80833 1.42750 0.5375012MO 0.78094 1.51000 1.90000 1.47000 0.56625

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

U.S.A. 85.75 85.55 85.37 U.K. 132.92 132.61 132.31 EURO 114.63 114.36 114.10 CANADA 86.43 86.23 86.00 SWITZERLAND 91.71 91.49 91.25 AUSTRALIA 86.85 86.65 86.42 SWEDEN 12.82 12.79 12.75 JAPAN 1.05 1.04 1.04 NORWAY 14.72 14.69 14.65 SINGAPORE 66.70 66.54 66.37 DENMARK 15.38 15.34 15.30 SAUDI ARABIA 22.87 22.81 22.75 HONG KONG 11.04 11.01 10.98 CHINA 12.99 12.96 12.92 KUWAIT 305.92 305.21 304.41 MALAYSIA 28.01 27.94 27.87 NEW ZEALAND 66.28 66.13 65.96 QATAR 23.55 23.50 23.43 U.A.E. 23.35 23.29 23.23 KR WON 0.08 0.08 0.08 THAILAND 2.86 2.85 2.84

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3356 1.3358 1.3432 1.3328

USD-CHF 0.9467 0.9470 0.9476 0.9328

GBP-USD 1.5587 1.5591 1.5642 1.5455

USD-CAD 0.9973 0.9977 0.9973 0.9918

AUD-USD 1.0062 1.0066 1.0173 1.0061

EUR-JPY 109.7200 109.7600 110.2400 108.9600

EUR-GBP 0.8562 0.8566 0.8635 0.8564

EUR-CHF 1.2638 1.2642 1.2682 1.2459

GBP-JPY 128.1200 128.1800 128.5700 126.3800

CHF-JPY 86.8000 86.8600 87.7500 86.7200

CAD-CHF 0.9482 0.9489 0.9536 0.9395

Gold 1388.4900 1389.3500 1417.3000 1386.1000

Silver 30.0200 30.1200 30.8200 30.0100

As per 22.00 PST

Time Source Events Forecast Previous

4:50 JPY Monetary Base y/y 7.9% 7.6%14:00 EUR Final Services PMI 53.7 53.714:30 GBP Construction PMI 51.1 51.815:00 EUR Industrial New Orders m/m 1.3% -4.2% 15:00 EUR PPI m/m 0.3% 0.4%17:30 USD Challenger Job Cuts y/y -3.3%18:15 USD ADP Non-Farm Employment Change 101K 93K18:30 CAD RMPI m/m 2.1% 1.7%18:30 CAD IPPI m/m 0.4% 0.5%20:00 USD ISM Non-Manufacturing PMI 55.6 55.0

Source Events Actual Forecast Previous

EUR German Unemployment Change 3K -12K -8K GBP Manufacturing PMI 58.3 57.3 57.5 GBP Net Lending to Individuals m/m 0.7B 0.9B 1.5B GBP Final Mortgage Approvals 48K 47K 45KGBP M4 Money Supply m/m -0.8% 0.4% 0.7%EUR CPI Flash Estimate y/y 2.2% 2.0% 1.9%USD Factory Orders m/m 0.7% -0.1% -0.7% USD Total Vehicle Sales 12.3M 12.3M

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of England January 13, 2011 March 5, 2009 0.50%

European Central Bank January 13, 2011 May 7, 2009 1%

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

The Reserve Bank of Australia February 1, 2011 November 2, 2010 4.75%

Bank of Canada n/a September 8, 2010 1%

Federal Reserve n/a December 16, 2008 0.25%

Bank of Japan n/a December 19, 2008 0.10%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, January 04,2011 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

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

ABPL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ABLN 12.50 13.00 12.50 13.00 12.65 13.15 13.20 13.45 13.45 13.70 13.55 14.05 13.65 14.15 13.70 14.20

JSBL 12.70 13.20 12.80 13.30 12.85 13.35 13.25 13.50 13.45 13.70 13.50 14.00 13.70 14.20 14.00 14.50

ASPK 12.60 13.10 12.65 13.15 12.75 13.25 13.20 13.45 13.40 13.65 13.50 14.00 13.65 14.15 13.75 14.25

CIPK 12.55 13.05 12.70 13.20 12.70 13.20 13.25 13.50 13.45 13.70 13.55 14.05 13.70 14.20 13.90 14.40

DBPK 12.40 12.90 12.50 13.00 12.70 13.20 12.95 13.20 13.10 13.35 13.30 13.80 13.50 14.00 13.60 14.10

FBPK 12.50 13.00 12.60 13.10 12.75 13.25 13.20 13.45 13.45 13.70 13.60 14.10 13.75 14.25 13.85 14.35

FLAH 12.55 13.05 12.65 13.15 12.75 13.25 13.20 13.45 13.40 13.65 13.45 13.95 13.60 14.10 13.70 14.20

HBPK 12.55 13.05 12.65 13.15 12.75 13.25 13.20 13.45 13.40 13.65 13.50 14.00 13.60 14.10 13.75 14.25

HKBP 12.60 13.10 12.65 13.15 12.70 13.20 13.10 13.35 13.30 13.55 13.35 13.85 13.50 14.00 13.75 14.25

NIPK 12.50 13.00 12.75 13.25 13.15 13.65 13.45 13.70 13.60 13.85 13.65 14.15 13.70 14.20 13.75 14.25

HMBP 12.60 13.10 12.70 13.20 12.85 13.35 13.25 13.50 13.35 13.60 13.50 14.00 13.60 14.10 13.70 14.20

SAMB 12.50 13.00 12.70 13.20 12.80 13.30 13.25 13.50 13.45 13.70 13.45 13.95 13.65 14.15 13.75 14.25

MCBK 12.50 13.00 12.60 13.10 12.60 13.10 13.15 13.40 13.30 13.55 13.40 13.90 13.50 14.00 13.75 14.25

NBPK 12.30 12.80 12.50 13.00 12.70 13.20 13.20 13.45 13.30 13.55 13.50 14.00 13.65 14.15 13.75 14.25

SCPK 12.35 12.85 12.50 13.00 12.65 13.15 13.10 13.35 13.25 13.50 13.45 13.95 13.50 14.00 13.70 14.20

UBPL 12.40 12.90 12.50 13.00 12.60 13.10 13.20 13.45 13.40 13.65 13.50 14.00 13.70 14.20 13.70 14.20

AVE 12.52 13.02 12.62 13.12 12.73 13.23 13.21 13.46 13.39 13.64 13.49 13.99 13.63 14.13 13.74 14.24

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)04/01/2011

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

1 week -0.98 0.77 -0.83 0.31 -0.92 -0.84 -0.99 0.951 month -0.89 0.51 -0.76 0.78 -0.36 0.29 -0.90 0.813 months -0.41 -0.45 -0.80 -0.32 -0.77 -0.44 -0.43 0.066 months -0.86 0.14 -0.73 -0.11 -0.80 -0.65 -0.77 0.641 year -0.67 0.77 0.30 0.67 -0.15 -0.50 -0.70 0.232 years -0.71 0.77 0.36 0.71 0.04 -0.19 -0.67 0.63

Currencies CorrelationUSD/JPY

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.70 12.60 12.70 12.65 12.90 12.80 12.73

8-15dys 12.85 12.75 12.80 12.80 12.90 12.90 12.83

16-30dys 12.90 12.85 12.90 12.85 12.95 12.95 12.90

31-60dys 13.05 13.08 13.08 13.10 13.05 13.10 13.08

61-90dys 13.18 13.24 13.20 13.25 13.15 13.25 13.21

91-120dys 13.32 13.30 13.28 13.30 13.25 13.35 13.30

121-180dys 13.35 13.40 13.37 13.44 13.30 13.40 13.38

181-270dys 13.55 13.47 13.50 13.54 13.45 13.60 13.52

271-365dys 13.68 13.69 13.65 13.72 13.65 13.75 13.69

2-- years 14.00 14.00 14.00 13.95 13.90 14.00 13.98

3-- years 14.20 14.30 14.19 14.15 14.20 14.20 14.21

4-- years 14.20 14.25 14.22 14.17 14.22 14.25 14.22

5-- years 14.24 14.31 14.25 14.20 14.23 14.27 14.25

6-- years 14.26 14.27 14.27 14.24 14.30 14.30 14.27

7-- years 14.28 14.35 14.30 14.30 14.35 14.40 14.33

8-- years 14.22 14.10 14.05 14.12 14.00 14.10 14.10

9-- years 14.22 14.15 14.00 14.18 14.20 14.08 14.14

10--years 14.30 14.40 14.25 14.25 14.25 14.40 14.31

15--years 14.55 14.50 14.50 14.55 14.55 14.70 14.56

20--years 14.70 14.75 14.70 14.80 14.75 14.85 14.76

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for January 04, 2011

NEW YORK: The euro slid fromthree-week highs against the dollar onTuesday, weighed down by unexpect-edly strong US factory numbers, withfurther pressure likely given doubtsover the euro area's bond issuance.

Data showed new orders received byUS factories rose in November andorders excluding transportation record-ed their largest gain in eight months,fueling dollar buying versus the euro.

The weakness in commodities hasalso undermined the euro, which inrecent months has moved in tandemwith the sector as global risk appetiteimproved.

Traders also said the lapse of the NewYork expiry in euro/dollar, where thereare reportedly option-related bids in the$1.3400 region, contributed to the euro-zone single currency's retreat. Thosevanilla bids in the euro had kept the

euro partly supported throughout theAsian and London session.

"There's always a bearish case for theeuro because of the debt situation. Thatwill keep com-ing back so it'sunclear to me ...the upside forowning the euroin a big way,"said AstonChan, portfoliomanager atglobal macro hedge fund GLC inLondon. GLC has assets under manage-ment of $1.2 billion.

In midday New York trading, the eurowas down 0.3 per cent from late onMonday at $1.3306 after hitting three-week peaks at $1.3435. More supportlies at $1.3280 and $1.3250, Monday'slows, traders said. A fall below key sup-

port at $1.3250 could prompt more sell-ing in the euro as traders target the 200-day moving average just below$1.3100.

The euro was supported earlier by theoverall improvement in the globalindustrial cycle. The euro area purchas-ing managers' index (PMI) forDecember was revised upward onMonday, suggesting a pick-up in theregion's growth momentum.

Against the yen, the euro reversedgains to trade slightly lower on the day

at 109.18. Despite the increase in riskappetite, volatility in major currenciesis still elevated, suggesting investors inthe options market remained nervousabout global growth prospects.

Meanwhile, currency investorsremained riveted on the Australian dol-lar, which fell as severe floods in north-east Australia are expected to impactcoal production, a major contributor toits economy.

The Aussie dollar fell 1.1 per cent toUS$1.0055, retreating from a 28-yearpeak around US$1.0257 set on Friday.

Traders said funds sold Aussie foreuros, taking profit on long Aussiepositions taken in the run-up to theend of 2010. The dollar rose 0.3 percent to 81.92 yen with traders seeingoffers around 82.50 and near-termresistance at the 55-day moving aver-age of 82.60. -Reuters

Euro falls against dollaras US factory orders rise

SHANGHAI: The yuan closeddown against the dollar onTuesday, even though thePeople's Bank of China set theyuan's mid-point at a recordhigh, with dealers saying thecurrency had already risensharply in the last two sessions.

The yuan had been overlyactive in recent days and gainswere likely to be tempered fora while.

Spot yuan finished at 6.6088versus the dollar, down fromFriday's close of 6.5897 -- thelast trading day before three-day New Year's Day holiday.

The PBOC fixed the day'smid-point, from which theyuan can rise or fall 0.5 percent in a given day, at a recordhigh of 6.6215, but up only 12pips from Friday's 6.6227.

Dealers said a climb of onlyseveral pips in the Chinesecentral bank's mid-pointreflected its intention to let theyuan move up slowly.

"The yuan rose too fast in thelast few days," said a dealer in

a Chinese commercial bank inShenzhen. "Definitely, theyuan should rise, but a quickrise is not the right way."

China-based traders expectthe yuan to appreciate about 2per cent in the first quarter of2011, partly propelled byChinese President Hu Jintao'svisit to the United States inmid-January.

For this year, it could gainaround 6 per cent as Beijingalso uses the currency as one ofits tools to fight inflation, theysaid. In November, consumerprices hit a 28-month high.

Benchmark one-year non-deliverable dollar/yuan forwardswere bid at 6.4360, up slightlyfrom Friday's close of 6.4280.Their implied yuan appreciationin a year's time fell slightly to2.88 per cent from 3.01 per cent.Dealers widely expect the NDFmarket may short the US dollarthis year, with more confidenceof yuan appreciation riding onHu's visit to Washington inJanuary. -Reuters

Yuan declines, gradualgains still seen

LONDON: Sterling rose onTuesday as data showed UKmanufacturing activity grew lastmonth at its fastest pace in 16years, extending earlier gainsmade on purchases by Asiansovereigns and talk of buyingrelated to a dividend payout.

The Markit/CIPS manufactur-ing Purchasing Managers' Index(PMI) rose to 58.3 in December,its highest since September

1994. The headline figure wasabove the consensus forecast of57.0 and November's down-wardly revised reading of 57.5.

"The PMI numbers are a verypositive surprise which showsthat the manufacturing sector isstill going great guns and notshowing any visible signs ofdisruption by the snow over themonth," said Philip Shaw, chiefeconomist at Investec.

By 1430 GMT, the pound was0.8 per cent higher at $1.5612after rising as far as $1.5646.Gains accelerated as the pair

broke solidly above $1.5600,traders said.

Sterling got a lift earlier onbuying from Asian sovereignaccounts, macro funds and ontalk of a UK clearer's dividendpayment which required it tobuy pounds to pay investors,traders said.

There was also talk a suprana-tional entity was buying ster-ling/Swiss franc, which sup-

ported the UK unit.The euro hit an intraday low

against the pound at 85.62pence, coming off a seven-weekhigh of 86.45 pence last week.Support was seen at the 55-daymoving average of 85.55 pence,traders said.

"We believe euro/sterling istoo high at these levels as theUK austerity drive seems to beon course," said Paul Robson,currency strategist at RBS. Heforecast the euro would be trad-ing around 80 pence in sixmonths' time. -Reuters

Stg extends gainson robust UK data

SEOUL: The South Koreanwon and the Thai baht roseagainst the dollar on Tuesdayas foreign investors kept look-ing for higher-yieldings assetsin the countries with strongeconomic fundamentals.

But the won and the bahtcould not break through resist-ance lines as the foreignexchange authorities werespotted buying dollars to captheir strength.

Regional foreign exchangeauthorities are expected to con-tinue intervening to slow gainsin Asian currencies, which areseen staying firm on appetiteamong foreign investors, ana-lysts and dealers said.

The won hit its strongest inmore than seven weeks againstthe dollar on continueddemand from foreign investors

for South Korean stocks and asa shipbuilder's overseas ordercaused investors to build updollar-short positions.

But the foreign exchangeauthorities were spotted buyingdollars to prevent the won end-ing the local trade stronger than1,120 per dollar, dealers said.The local currency strength-ened to as firm as 1,119.8, thestrongest since Nov. 12.

"The authorities appeared tocarry out smoothing operation todefend 1,120. But it looked diffi-cult for them to reverse the direc-tion, given strong stocks," said aforeign bank dealer in Seoul. Thesuspected dollar purchases by theauthorities boosted caution overfurther intervention.

"It will take quite long for thewon to rise more, Unless play-ers dump dollar regardless of

levels, the won may not able totough 1,100 any time soon," alocal bank dealer.

The baht rose up to 1.1 percent to 29.80 per dollar, anover two-week high, on bidsfrom both local and foreignbanks, dealers said.

Thailand's central bank wasspotted buying some dollars at30.03 but players should seestronger support at 30.00 next.

The Taiwan dollar jumped tonear the previous day's high.But traders expect the Taiwandollar to lose strength beforeChinese New Year as fewerexporters are selling the USdollar.

The Taiwan dollar rose to ashigh as T$29.087 per dollar

earlier, compared with itsprevious close of T$30.200 onMonday. -Reuters

Asian currencies

Won, baht up on fundinflows; intervention spotted

SYDNEY: The Australian dollar shed some ofits recent hefty gains on Tuesday as economical-ly damaging floods provided an excuse for prof-it-taking, though upbeat global data and strongcommodity prices should limit the pullback.

The Australian dollar fell to a five-day lowof$1.0102 in a thin trading session, down 1.5 percent from a 28-year peak around $1.0257touched on Friday.

The currency lost some of its shine asinvestors sold the Aussie to lock in profits aftera stellar performance last month when it rose 6per cent. The Aussie was also hurt by worriesabout widespread floods affecting the country'smining areas.

"It's just an excuse used by a lot of traders... tosell," said David Scutt, a trader at Arab BankAustralia. Floods in the state of Queensland, whichproduces a third of Australia's coal, have severedroads and closed ports, curtailing production of thecommodity, the nation's top export.

The blow to export volumes and demand will

likely be a modest drag on Australia's economicgrowth in the very short-term, with some econo-mists estimating it could shave perhaps 0.4 per-centage point off gross domestic product.

While traders say they wouldn't be surprised tosee the Aussie retest parity, they don't expect asubstantial retreat.

"Australia produces a lot of things that the restof the world needs and that should keep the cur-rency well-supported in the near-term," saidScutt. Immediate support is seen at $1.0090,then $1.0042.

The Australian currency also gave ground to afirmer euro which edged up to A$1.3204 or up0.6 per cent on the day, having hit a recordtrough around A$1.2950 last week.

The New Zealand dollar ran into profit-takingon recent hefty gains and pulled back toNZ$0.7718 from a peak of NZ$0.7813 on Friday.Trading, though, was very thin on Tuesday asNew Zealand financial markets were closed foran extended New Year holiday. -Reuters

Aussie dollar slips frompeaks, undercut by floods

Swiss francfalls as risk

appetite risesZURICH: The Swiss franc fellagainst the euro and the dollar onTuesday after upbeat US andEuropean economic data fed riskappetite, erasing some of theappeal of the safe-haven Swissfranc after boosting US equitiesmarkets.

Data from the Institute forSupply Management on Mondayshowed US manufacturing grewfor a seventeenth straight monthin December, adding to recentevidence that a recovery in the USeconomy is gaining momentum.

The euro area purchasing man-agers' index (PMI) was revisedupwards from the earlier flashestimate, indicating a pick up inthe region's growth momentum,in contrast to a fall in Swiss PMI,which some analysts said was dis-appointing.

The franc slid 0.6 per centagainst the euro compared to theNew York close, trading at 1.2542francs per euro at 0738 GMT. Thefranc was 0.6 per cent loweragainst the dollar at 0.9393 francsper dollar. The franc was likely totrade in the 0.90 to 0.95 rangeagainst the dollar this year, an ana-lyst said. However, Commerzbanktechnical analysts said chart read-ings show the franc's rise againstthe dollar could be in its finalstages. -Reuters

No strong case to buy euros, hedge fund manager says

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

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International and its employees are not responsible for any loss arising from

use of these reports and recommendations.

Legacyof ZABhutto

The biggest tribute any nation could pay toone of its leaders is following his teachings ineveryday life. Quaid-e-Azam Mohammad AliJinnah liberated Pakistan from the colonialBritish rule and Quaid-e-Awam, Zulfikar AliBhutto brought together a nation that had faceda humiliating defeat at its rival's hands. Jinnah'sideology culminated in the creation of Pakistanand Bhutto's vision laid the foundation ofMuslim Ummah's unification.

He along with other visionary leaders ofMuslim Ummah like Great King Faisal ofSaudi Arabia, President Soekarno of Indonesia,and President Gaddafi of Lybia created aforum, Organisation of Islamic Conference, thefirst step towards formation of common marketof Muslim countries. Its antagonists murderedKing Faisal, toppled the governments ofSoekarno, and Bhutto to dent the unificationand initiate fragmentation.

He was a staunch believer of the fact that acountry can progress only when its masses' liv-ing conditions are improved, its foreign policycan remain independent when its economicconditions are strong, and its frontiers can beguarded when it has an appropriate deterrencelevel. He gave a new dimension to Pakistan'sforeign policy. During his regime Pakistandeveloped most cordial relationship with threeof the superpowers of that time, USSR, China,and the United States of America.

His largest contribution is the unanimousapproval of the Constitution of Pakistan in1973. Though, many tried to bring changes in itto serve their vested purposes but failed and therecent 18th and 19th amendments haveremoved many of those distortions that werebrought through presidential ordinances ratherthan Houses.

His vision of empowering the masses,strengthening democracy and fostering eco-nomic development through active involve-ment of all the strata of society could ensuresustained growth. Though, many of his oppo-nents were scared of his charisma but it was thesame force that brought the nation out of thepessimistic stance.

Pakistan's borders can be best guarded not byaccumulating lethal arsenal but developing cor-dial relationship with the neighbours. Oneshould not forget that devil makes work for idlehands and a starving person could commit eventhe worst of crimes.

Pakistan's enemies do not want the country tomake progress and let the benefits of prosperi-ty to trickle down to masses. They also wish tocreate a constant state of antagonism among thefederating units. To make the country prosper-ous, basic needs of the most deprived groupsmust be met at the earliest and it shouldn't bedone by charity but employment.

4Tuesday, January 4, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 144

Qamar Zaman Kaira

Quaid-e-Awam ShaheedZulfikar Ali Bhutto was born

on 5th January 1928 at Larkana. Hisfather Sir Shahnawaz Bhutto was aneminent political leader of the sub-continent. He led the movement forseparation of Sind from Bombay tosave the people of Sind from thelong and arduous journey toBombay for attending courts orother official matters. SirShahnawaz paid special attention tothe political grooming of his son bynarrating to him the stories pertain-ing to the family prestige, chivalryand service to humanity. His moth-er used to advise him to help thepoor and the oppressed. ShaheedZulfikar Ali Bhutto had molded hispersonality in consonance with hisfamily honour, prestige and the per-ceptions of his mother.

It is said that Sir Shahnawaz wasa minister in Bombay during 1935under the British regime. One dayGovernor Lord Braboran invitedSir Shahnawaz Bhutto at a dinneralong with his sons. GovernorLord Braboran while shaking handswith the Imdad Ali Bhutto, theelder son of Sir Shahnawaz Bhutto,remarked how handsome thisyoung man is. Imdad Bhutto Alithanked the Governor for the com-pliment and replied that theGovernor himself was very attrac-tive. Quaid-e-Awam Bhutto on histurn observed that the Governorwas beautiful because he was beingfed on the blood of our beautifulcountry. The governor wasextremely confounded and keptlooking at him in amazement andthen pointing his finger to SirShahnawaz Bhutto said" your sonis a poet and a revolutionary". Onreturn from the banquet SirShahnawaz Bhutto asked his sonwhat was the need to say such athing there? In a swath of emotions,Zulfikar Bhutto replied, it is ourcountry and they have forciblyusurped it. Every country of theworld which has been enslaved isour country. After saying this hestarted crying.

Quaid-e-Awam received his pri-mary education in Larkana and thenin Bombay and after that he was

sent to London for higher educa-tion. Puilo Moodi who was a classmate of the Quaid-e-Awam saysthat during his student days Bhuttowas extremely sensitive, avid sup-porter of the independence move-ment and a great admirer of Quaid-e-Azam Muhammad Ali Jinnah.During that period he acquired adeep insight into the world history.He had an intimate knowledge ofthe geographical history of theworld and the world civilizations.

After completing his education hereturned to his country and joinedthe legal profession. When AyubKhan invited him to join his cabi-net to benefit from his ability andintelligence, he could not refuse.His first priority was to ensure thatno single power should enjoymonopoly over the world affairs.He was a staunch opponent of colo-nialism. He played a significantrole in establishing friendly rela-tions with Soviet Union and China.He left Ayub cabinet when hesigned Tashkent Agreement afterthe 1965 war. On 30th Novemberhe founded Pakistan Peoples Party(PPP) with a manifesto "Islam isour religion, Democracy our poli-tics, Socialism our economy andPeople are the source of Power"Under this manifesto he also char-tered a programme for providingRoti, Kapra Aur Makan. Hebrought the politics out of thedrawing rooms of the palaces to thethreshold of the dwellers of themuddy houses and declared "thepolitical paradise is under the feetof the masses". It was a philosophywhich implied that it is the prerog-ative of the people to elect whom-soever they want to reject thosewho fail to win over their fran-chise. The politics of ShaheedZulfikar Ali Bhutto revolvedaround the poor, labourers anddown-trodden segments of the soci-ety. His captivating and magicalpersonality gave political con-sciousness and courage to the peo-ple enabling them to walk withtheir heads held high.

In the 1970 elections, the peopleheavily voted for the nominatedcandidates of Shaheed Zulfikar AliBhutto. It is an irrefutable realitythat the Allah Almighty blessedShaheed Zulfikar Ali Bhutto withgreat honour, respect and prestige.No wonder that Bhutto had inheritedtremendous honour and estate andthroughout his life his conductreflected the traits of honour andbravery. He was passionate aboutthe honour and independence of hiscountry which was amply evidentfrom his address to the SecurityCouncil on 14th December 1971. It

was an address of a revolutionarypoet. He said Security Council waslike a fashion house where amor-phous bodies are draped in glitteringclothing. Today people are talkingabout ground realities here andnobody is mindful of the sanctity ofborders. I have neither come here toaccept defeat nor would tolerate anydisgrace for my country. What wasillegitimate till yesterday is beingdeclared legitimate today by theSecurity Council. The delegates ofSoviet Union, a comrade country,are laughing and thumping the deskas if they belong to a Nazi country.My heart is shedding tears of blood.After saying this he tore apart thenotes of his speech and left the hall.Some elements harbouring preju-dice and hatred against Quaid-e-Awam have been striving to createthe impression that he had shreddedthe papers of a resolution submittedin the Security Council by Polandand had he not done this the countrycould have been saved. The realityis that he tore his own notes. Evenotherwise the Polish Resolution wasa blatant attempt to push Pakistaninto accepting a disgraceful defeat.The detractors of Bhutto have noteven read the Polish resolution. As afollow up to the adoption of that res-olution our General would havebeen tried for war crimes andPakistan would have been put in thedock.

Probably on 18th December 1971the Quaid-e-Awam addressing apress conference said "Tell theworld to get off from our back andalso keep its shadow away from us.We have the courage to rebuild ourcountry and we will show them"Bhutto was a man of infallibledetermination. When he was giventhe responsibility to lead a crest-fallen nation, the country was inruins. More than ninety thousand ofour civilian and military officersand soldiers were POWs in Indiaand five thousand square miles ofour territory was under Indianoccupation. The nation was in astate of despair and despondency.In his first address to the nationafter assuming office he declaredwe have lost a war but not thecourage, we will rebuild the coun-try. He stood true to his words. Hevisited India and as a result of hisparleys with the Indian PrimeMinister Indira Gandhi (late) thecaptured territory and the POWswere retrieved honourably.

Lord Braboran was right toremark that the son of ShahnawazBhutto was a poet and a revolution-ary. There is no denying the factthat from 1938 to 4th April 1979 helived his life as a poet and a revolu-

tionary. Even the death cell couldnot break his determination and hisinherited courage.

One may or may not agree but thefact is that Zulfikar Ali Bhutto cre-ated a new Pakistan; a Pakistanwhich for the first time breathed inan atmosphere of independence; aPakistan which entered the realm ofself-esteem after casting off theshackles of slavery; a Pakistan thathad become a welfare state for itscitizens where the breach betweenpoor and rich had vanished andwhere the class system had crum-bled. He gave a unanimousConstitution in 1973 and estab-lished the ascendancy of the electedparliament. He initiated nuclearprogramme to thwart the nefariousdesigns of our enemies and toensure that no one could cast hisevil eye at us. He established HeavyMechanical Complex that producestanks and ammunition. The sameinstitution produced Al-Khalid tankthat is unmatched in the world.Quaid-e-Awam built AeronauticalComplex, an institution whichtoday is a custodian of our defense.Quaid-e-Awam loved the culturesof different people living in thecountry. He was aware of the factthat the identity of a nation depend-ed on promotion and survival of dif-ferent cultural entities forming thatnation.

A renowned columnist and intel-lectual Abbas Athar says Bhuttowho wanted Pakistan to be anuclear power even if the peoplehad to eat grass, also envisioned itto be economically and sociallystrong and self-respecting country.But he was hanged to prove that nograss grew on the gallows. Allowme to say that Quaid-e-AwamZulfikar Ali Bhutto rebuilt ourbeloved country besides restoringits dignity and self-esteem. But alasan evil eye struck this dignifiedcountry. On 5th July the countryfell in the hands of power seekersand greedy elements that perpetuat-ed the machinations with the solepurpose to prolong their unconsti-tutional and unethical rule. Thedignified, self-respecting and inde-pendent Pakistan that Bhutto hadbuilt was mortgaged to the outsidepowers by these self-seekers andpower hungry elements. The nationis still suffering from the conse-quences of their evil actions. As astudent of history when I look backat the events of the past, I have anauseating feeling. Had the tragedynot happened on 5th July, our coun-try would not have been there,where we find it today.(The Writer is Federal Minister for

Information and Broadcasting)

A Leader of Deeds...Birth Anniversary of Shaheed Zulfikar Ali Bhutto

Shazia Marri

T oday, when people reminisceabout the 'good old days'they invariably mean the

golden era of the 70s. The timewhen Pakistan was known theworld over as a progressive nation;when development and traditionsco-existed; when looking towardsthe future didn't automaticallymean you were disregarding thepast; when being modern andenlightened wasn't equated tobeing a desperate copycat of thewest; when the world respected usas a nation; and when we respectedourselves. An age when thingslooked rosy and the future loomedbright. This was the era of PrimeMinister Shaheed Zulfikar AliBhutto. The man who madePakistan shine out on the worldmap and brought to his countrypeace, prosperity, and dignity itdeserved. A man who in his lifeand after his death left behind suchindelible prints their impact willreverberate through the genera-tions. He was a man so deeplycommitted to his ideals and hisbeliefs that he chose death oversurrender. A man with suchstrength of character that eventhose who never met him areunwavering in their commitment tofollow the path he carved. How

then, does one endeavour to payhomage to this man - this institu-tion - Zulfikar Ali Bhutto - on his83rd birthday?

To attempt a tribute to ShaheedZulfikar Ali Bhutto in a few hun-dred words is akin to showing alamp to the sun. At the age of 29,as the youngest member ofPakistan's delegation to the UnitedNations, Zulfikar Ali Bhutto tookthe world by storm; At 30 hebecame the youngest CabinetMinister in Pakistan and at 34 hewas given the coveted portfolio ofForeign Affairs. Among hisachievement during this time, wereto conclude the Sino-Pakistanboundary agreement and convincethe then President of the wisdom ofestablishing closer economic anddiplomatic links with Turkey andIran, the initiatives that have paidoff unbelievable dividends forPakistan. At 39, his unwaveringprinciples compelled him to resign,and he founded what became thelargest and most popular politicalparty in the country. Over the nextdecade he was imprisoned,released, and elected PrimeMinister. Indeed, he was the leaderof the people - Our true Quaid-e-Awam.

Prime Minister Bhutto gavePakistan a unanimous, democraticand Islamic constitution withprovincial autonomy and humanrights. This was the first constitu-tion to recognize human rights ofthe people of Pakistan. He pushedPakistan into the atomic age as heintroduced nuclear medicine andnuclear power plants into the coun-try. His progressive socio-econom-ic and democratic ideas gave himthe strength and popular support toconsolidate the state on an egali-tarian agenda to attain roti, kapra

and makaan. By signing the SimlaAccord in 1972 he negotiatedlongest peace between India andPakistan. He built the KarakorumHighway in the Northern tip ofPakistan down to Port Qasim in theArabian Sea, and countless thingsin between.

Bhutto's meteoric rise in thehearts of the people was unaccept-able to the anti-people forces.Falsely accused, imprisoned, andconvicted, he was victim of a judi-cial murder thinly veiled under theguise of justice. And then came thedark ages. An era the backlash ofwhich we continue to suffer today.A time when the voice of reasonwas subjugated and the voice ofbigotry rang loud and clear; a timewhen progress gave way to oppres-sion, and when peace and tolerancebecame taboo; a time whenhypocrisy triumphed over honesty,and personal gains gained prece-dence over principles; a time whenthe wicked and the devious ruledover the moral and the upright. Itwas this time that pushed Pakistanback and stymied our development.The time we now refer to as the Ziaera. An unconscionable rule whichleft this country grappling fordecades to come, and wroughtdestruction such that even the dem-ocratic government that followedcouldn't undo its ill effects.

Today, 83 years after he wasborn, Pakistan is united in thebelief that Shaheed Zulfikar AliBhutto symbolizes the nation'spride. A man with such foresight,that his vision for Pakistan standstrue decades after his martyrdom.A man who believed firmly in themanifest capacity of each individ-ual to make his own future, as hemade his. He gave himself a goal.He envisioned serving his people

and his land. He did just that. Hebelieved that an individual shouldnever succumb to tyranny andinjustice. He gave his life to liveup to his beliefs. He was a trueleader of the people who lived anddied for them. A man of deep,unshakeable faith and principles,Bhutto chose martyrdom overappealing to a tyrant for his life. Indeath he was, as in his life, anunparalleled leader - an unmatchedvisionary. And it is his vision andhis beliefs that compel people tofollow the creed of Bhuttoism - forPakistan's well-being. Indeed, his-tory has never forgiven those whomurdered him, while he hasbecome a legend!

Today people look back atBhutto's time as the most promis-ing in Pakistan's history, since postZia, every era has been primarilyabout damage control. Yes, we did-n't get as far as should have; yeswe regressed when we should'vedeveloped; yes, we continue to begoverned by archaic norms andoppressive mindsets; and yes,today our standing in the worldmight not be what we trulydeserve. But nothing is unsalvage-able, no challenge insurmountable,no goal incredible - when one hasthe passion and the tenacity toachieve. Shaheed Zulfikar AliBhutto's passion was to serve hispeople and to live in their hearts -he achieved both. Likewise, hisgovernment today is passionateabout bringing the country on thefast track to development which heenvisioned and initiated fourdecades ago. And today, on his83rd birthday, let this passionignite in the heart of each andevery Pakistani - together let usfinally bring to Pakistan, the gloryit deserves!

The Ultimate Guiding Light

FERTILISER000 tonnesUrea Offtake (Jan to Nov 10) 5,463Urea Offtake (Nov 10) 845Urea Price (Rs/50 kg) 870DAP Offtake (Jan to Nov 09) 121DAP Offtake (Nov 10) 152DAP Price (Rs/50 kg) 3,137

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Nov 10) 33,929

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

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

HONDA ATLAS CARProduction (July 10 to Nov 10)6,626

Sales (July 10 to Nov 10) 6,247

Production (Nov 10) 1,145

Sales (Nov 10) 1,075

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

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

OIL MARKETING CO(000 tons)MS (Jul 10 to Nov 10) 932MS (Nov 10) 186Kerosene (Jul 10 to Nov 10) 66Kerosene (Nov 10) 12JP (Jul 10 to Nov 10) 589JP (Nov 10) 124HSD (Jul 10 to Nov 10) 2,792HSD (Nov 10) 612LDO (Jul 10 to Nov 10)) 26LDO (Nov 10) 4Fuel Oil (Jul 10 to Nov 10) 3,641Fuel Oil (Nov 10) 572Others (Jul 10 to Nov 10) 3Others (Nov 10) 1

PRICES (Ex-Refinery) RsMS (1 Dec 10) 45.15 MS (1 Nov 10) 44.53 MS % Chg 1.39%Kerosene (1 Dec 10) 52.04 Kerosene (1 Nov 10) 51.25 Kerosene % Chg 1.54%JP-1 (1 Dec 10) 52.27 JP-1 (1 Nov 10) 51.48 JP-1 % Chg 1.53%HSD (1 Dec 10) 55.20 HSD (1 Nov 10) 54.24 HSD % Chg 1.77%LDO (1 Dec 10) 50.52 LDO (1 Nov 10) 49.51 LDO % Chg 2.04%Fuel Oil (1 Dec 10) 43,019 Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)LOTPTA 14.39 45.28 KESC 3.38 35.63 ANL 9.33 10.71 FFBL 36.83 10.60 NBP 76.51 7.21

Symbol Close ChangeULEVER 4,378.00 62.79 WYETH 1,100.00 48.30 NESTLE 2,455.00 34.00 RMPL 2,126.99 27.34 SIEM 1,224.49 21.95

Symbol Close ChangeIDYM 296.31 -15.59PSEL 162.00 -6.25PECO 240.00 -5.97HINO 128.13 -5.87BATA 670.00 -5

Plus 299Minus 86Unchanged 19

Top 5 Volume Leaders

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KSE-100 Index

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Active Issues

Wednesday, January 5, 2011 5

Dhiyan

Market would see some negative activities today as the sad incident of theof Governor Punjab Salman Taseer's assassination would send investors intoa cautious mode. However the overall market outlook, in the short-term, ispositive as corporate results --which are expected to be better-- would under-pin it to some extent, therefore index can touch 12,500 level in the comingdays, provided no negative news arrives from the political front. On the otherhand, a positive development on Margin Trading System (MTS) would alsotrigger the market. Investors are advised to be cautious and hold. Moreover,they can sell their holdings at higher levels.

Khalid Iqbal Siddiqui, Head of Research Invest & Finance Securities

Salman Naqvi, Head of Sales Aba Ali Habib SecuritiesThe bullish activities are likely to sustain in the coming days as com-panies are expected to announce good corporate results. Also, lever-age product may be launched soon as President Zardari is taking keeninterest in the stock market issues. Therefore index can reach 12,500level soon. Investors are recommended to lay hands on oil & gas andpower scrips and selective stocks of the banking and fertiliser sectors.However, increase in interest rates and rising inflation could mar themarket. Market would remain positive today.

BUSINESS TO GO GOOD

Opening 11,849.46 Closing 12,110.26 Change 260.80% Change 2.20Turnover (mn) 219.56

Opening 3,632.39 Closing 3,747.41 Change 115.02% Change 3.17Turnover (mn) 7.81

Opening 2,985.23 Closing 3,038.03 Change 52.80% Change 1.77Turnover (mn) 0.48

Nawaz Ali

KARACHI: After a heavybearish day earlier, KarachiStock Exchange (KSE) saw amajor bull-rush Tuesdaywhich send it soaring above12,100 levels after more thantwo and a half years.

Easing political tension andbuying in anticipation of bet-ter December-ending corpo-rate results were the protago-nists of this rally, analystssay.

The benchmark KSE 100-Index increased by 260 points- 2.2 per cent -- to close at12,110 points, KSE 30-Indexjumped by 309 points - 2.72

per cent to close at 11,700points and KSE all-shareindex rose by 178 points -2.17 per cent to close at 8,414points.

"The bullish activity inoversold market followed thegovernment's consent todeliberate the concerns/advices of coalition partnersto stabalise present politicalcrises", said Ahsan Mehanti,Director Arif HabibInvestments.

Higher banking spreads,international oil prices over$91, and expectation ofstrong result announcementsthis quarter catalysed posi-tive activity at KSE, he

added.Bulls were there since the

start of the session as marketopened with1 points up itsgreen column. Gains thenkept pouring in on reports ofeasing political situation andhopes of a positive outcomeof the meetings of differentpolitical parities.

Further the expectations ofsome better corporateresults/payouts and risinginternational oil prices tootriggered buying activities.Therefore index crossed thepsychological barrier of12,000 points and just nearthe closing bells touched itshighest level of the day of

12,113 points (+ve 264points).

Foreign investors continuedwith their buying as accord-ing to NCCPL there was a netforeign buying of $1.3 mil-lion on Tuesday. On the localside banks undertook a netbuying of $11.01 millionwhile individual investors,companies and mutual fundsnet-sold stocks worth $5.53,$4.18, and $1.49 millionrespectively.

Volumes saw a significantimprovement as 219.5 mil-lion shares traded during theday which is 128.4 millionshares more as compared to aturnover of 91.1 million

shares a day earlier.Lotte Pakistan stood as the

volume leader with 45.28million shares followed byKESC with 35.63 millionshares and Azgard Nine with10.71 million shares.

Ahmed Rauf, equity dealerat JS Global Capital said thatoil, fertiliser and textilestocks led the rally on theback of increasing commodi-ty prices and margins.

LOTPTA led volumes in theface of an expected decreasein its freight costs.

Out of total 404 activeissues 299 advanced and 86declined while 19 issuesremained unchanged.

KSE leaps to 2-1/2-yr high

HONG KONG/SHANGHAI:Chinese stocks started 2011 ina bullish mood, giving a lift toHong Kong's market, asinvestors snapped up beatendown shares of companiesmost likely to benefit from arecovery in global economicactivity.

Data showing that manufac-turing accelerated in the USand Europe in December andthat growth in China and Indiaslowed to more sustainable lev-els lifted investor appetites forrisky assets.

The Shanghai Composite,Asia's worst performing marketin 2010 with an over 14 percent decline, rose 1.6 per cent.Hong Kong's Hang Seng rose 1per cent on good volume asturnover rebounded from thethin levels seen over the holi-days.

China's purchasing managers'index (PMI) published over theweekend showed that manufac-turing growth slowed in

December while factory infla-tion moderated, trends whichinvestors hope will lessen theneed for harsher tighteningpolicies from Beijing.

"The lastest PMI data signalsthat China's economy is notoverheating and that existingtightening policies have takeneffect," said Meng Xiangjuan,analyst at Shenyin WanguoSecurities Co. "If the PMI datakeeps falling, policymakers arelikely to hold off certain tight-ening measures."

A plunge in China's moneymarket rates also signaled that acash crunch in the financialsystem that had pegged themarkets back in December waseasing.

The materials sector rose as arally in commodity prices, inparticular coal, showed fewsigns of letting up.

Optimism over demand onthe back of a recovering globaleconomy and supply disrup-tions in Australia due to heavy

flooding is supporting coalprices, benefitting Chinese pro-ducers.

Cyclical companies -- thosemost directly affected bychanges in economic activity --were good bets over the nextfew months, said a trader atDaiwa Capital, saying theywould benefit from increasedcapital expenditure in the lastquarter.

State-owned China ShenhuaEnergy Co Ltd, the world's topproducer of coal by marketvalue, rose 2 per cent inShanghai, while Hong Kong-listed Shenhua shares were up2.9 per cent.

Shipping-related stocks alsoadvanced on optimism thatstronger manufacturing global-ly would boost demand forexports.

Container port operatorCosco Pacific rose 4.5 per cent,while China ShippingContainer Lines jumped 5 percent.-Reuters

‘Strong China start’boosts Hong Kong

MUMBAI: The BSE Sensexsnapped a four-session win-ning run and eased 0.3 per centon Tuesday, as investors tookprofits amid concern accelerat-ing inflation pressures couldpush up borrowing costs.

Lenders such as State Bankof India, ICICI Bank andHDFC Bank, all of which hadposted spectacular gains in2010, led the losers on talk theReserve Bank will raise inter-est rates.

The Reserve Bank of India(RBI), which had raised ratessix times in 2010 before paus-ing in December, is scheduledto review policy on Jan. 25.

Expectations for good quar-terly earnings helped limit thedrop in share prices.

"The market may form a topbefore earnings come in nextweek, which is generally thecase when results are expectedto be good. There may be someconsolidation after theresults," said Arun Kejriwal,director of research firmKRIS.

The 30-share BSE indexclosed down 62.33 points at20,498.72 with 18 of its com-ponents declining. The bench-mark had risen 17.4 per cent in2010 on the back of record for-eign portfolio investments of$29.3 billion.

The banking sector indexdropped 2.5 per cent, after ral-lying more than a third in2010.

In the broader market, gain-ers and losers were nearlyequal in number on relativelybetter volume of 445 millionshares.

Top lender State Bank ofIndia dropped 3.1 per cent,while ICICI Bank and HDFCBank shed 3.5 per cent andnearly 2 per cent respectively.

"The RBI has tough choicesto make -- tackling inflationand taking care of growth,"said Sunder Subramaniam,senior manager of institution-al sales at brokerageSharekhan.

"There are expectationsbuilding up that we could seean interest rate hike in sometime. Also, bank stocks haveperformed well, and there issome profit booking."

Maruti Suzuki, which sellsevery second new car in India,closed 0.1 per cent higher afterit joined peers in reportingstrong December sales.

Its sales rose an annual 17per cent in December, usuallya slower month, but weredown 11.8 per cent fromNovember.

Energy major giant RelianceIndustries climbed 2.1 per centin an attempt to catch up afterit underperformed the Sensexwith a nearly 3 per cent declinein 2010.

Firm base metal pricespushed non-ferrous metalsproducer Sterlite Industries 0.6per cent higher.-Reuters

Indian sharessnap 4-day rise

TOKYO: Japan's Nikkei stockaverage climbed to a 7-½month closing high on its firstday of trading for the year,helped by strong global manu-facturing data that lifted equi-ties worldwide and by a bouncein the dollar against the yen.

Buying of Nikkei futures bol-stered the cash market, withanalysts saying there were fewsell orders and adding that sen-timent for the index remainspositive after a strong run thathas seen it gain 13 per centsince November.

"Investors may stay cautiousbefore US jobs data this Friday,but they are optimistic overall,"said Hiroichi Nishi, generalmanager at Nikko CordialSecurities.

This quarter, expectations fordecent results from US andJapanese firms will likely pro-vide momentum for furthergains, analysts said.

"US corporate earningsreleases for the October-December quarter kicking offnext week will likely to providestrength and drive global mar-kets higher this month," saidTsuyoshi Segawa, equity strate-gist at Mizuho Securities.

"I wouldn't be surprised if theNikkei tests the 11,000-line thisquarter."

The benchmark Nikkei fin-ished 1.7 per cent or 169.18points higher at 10,398.10.

The broader Topix indexgained 1.5 per cent to 911.80.

Investors piled into laggingTokyo equities late last year,helping the Nikkei limit itslosses for 2010 to 3 per cent.

A Reuters poll last monthshowed the Nikkei is likely toend 2011 at the pre-Lehmanlevel of 12,000, according to amedian forecast of 24 marketparticipants.

US manufacturing grew for a17th straight month, the Institutefor Supply Management said onMonday. The data followedreports of faster growth inEuropean manufacturing andbolstered investors' appetite forriskier assets.

A bounce in the dollar back toabout 82.20 yen after it slippedbelow 81 at the year-end to itslowest in nearly two monthswas also seen as a positiveshort-term factor, traders said,although the dollar's recentsoftness is likely to weigh on

See # 16 Page 11

Nikkei up 1.7pc,hits a closing high

US stocks late-morning

Wall St dipsas consumer

shares weighNEW YORK: Stocks fell onTuesday on worries that risingfood costs will sap supermarketprofits, hurting consumer stocksand denting growing optimismabout the economic outlook.

Shares of Supervalu Inc nearly7 per cent after Morgan Stanleytold investors to cut holdings inthe stock, saying rising foodcosts will crimp margins.Safeway Inc and Whole FoodsMarket also slid. Soybean andcorn prices traded near two-yearhighs Tuesday.

"We're light on consumer sta-ples. One of our concerns iscommodity prices are going tobite into profits," said ThomasVillalta, portfolio manager forJones Villalta AssetManagement in Austin, Texas.

Materials were the biggest los-ers, with the S&P materialsindex falling 1.1 per cent, asmetals prices dropped afterrecent gains.

The market's pause followed astrong start to the new year onMonday and a robust rallythrough the end of 2010. TheDow and S&P 500 recently hittwo-year highs as economic datapointed to solid US recovery.

The Dow Jones industrial aver-age gained 2.23 points, or 0.02 percent, to 11,672.98. The Standard& Poor's 500 Index dropped 4.66points, or 0.37 per cent, to1,267.21. The Nasdaq CompositeIndex fell 15.46 points, or 0.57 percent, to 2,676.06.

S&P 500 fourth-quarter earn-ings are forecast to rise about 31per cent from a year ago, accord-ing to Thomson Reuters data.

While many analysts seeanother year of gains for theS&P 500, Morgan Stanleyoffered a more contrarian view,forecasting a year-end target forthe S&P 500 below the close for2010.

Monday's move was accompa-nied by a rise in volume, withmore than 7.7 billion sharestraded on the New York StockExchange, the American StockExchange and Nasdaq -- abovethe 50-day moving average. Thepace held strong for a secondday, with 3.27 billion sharestraded near midday.-Reuters

FTSE startsyear with

31-mth highLONDON: Britain's top sharesrose sharply on Tuesday, thefirst session of 2011, lifted backabove the key 6,000 level byheavyweight oil stocks andbanks, as solid economic dataprompted a return of investorrisk appetite.

The FTSE 100 ended up113.93 points, or 1.9 per cent, at6,013.87, its highest close sincethe start of June 2008, easilyrecovering the 1.2-per cent lossit suffered on New Year's Eve.

Tuesday's advance followedstrength from US and Europeanmarkets on Monday whenLondon was closed.

Trading volumes came backto more normal levels after thethin sessions seen over the hol-iday period, with 104 per centof its 90-day daily average hav-ing traded.

BP was the standout blue-chipgainer, up 5.9 per cent at aseven-month high, after reportsrival Royal Dutch Shell consid-ered a takeover bid, and thateconomic damages from its oilspill will be lower than forecast.

Shell gained 1.1 per cent."We're playing catch-up to the

European markets which had agood start to the year ... the rallyis being supported by somevery good economic data," saidAngus Campbell, head of salesat Capital Spreads.

Data on Tuesday showed thatBritish manufacturing activitygrew at its fastest pace in morethan 16 years in December,complementing data from theUS on Monday showing itsmanufacturing sector grew fora 17th consecutive month inDecember.

See # 17 Page 11

Volume high, Malaysian index hits intra-day peak

South East Asian stocks

Europe shares hit 1-wk closinghigh as commods gain

ANNOUNCEMENTS

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

AL-Abbas Sugar Yearly 50%D 204.85 11.80

Hussein Sugar Yearly - -170.96 -14.13

Wednesday, January 5, 20116

Volume 219,563,123

Value 9,242,102,583

Trades 86,740

Advanced 299

Declined 86

Unchanged 19

Total 404

Current 8,414.08

High 8,418.14

Low 8,235.43

Change h178.65

Current 12,110.26

High 12,115.07

Low 11,849.46

Change h260.80

Current 11,700.33

High 11,710.87

Low 11,390.58

Change h309.75

Market KSE 100 Index All Share Index KSE 30 Index

Current 19,370.59

High 19,383.03

Low 18,804.61

Change h565.98

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Karachi Electric Supply Corp Ltd

KESC closed up 0.42 at 3.38. Volume was 2,399 per cent above average

(trending) and Bollinger Bands were 126 per cent wider than normal. The

company's loss after taxation stood at Rs1.782 billion which translates into a

Loss Per Share of Rs0.09 for the 1st quarter of current fiscal year (1QFY11).

KESC is currently 38.6 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

reflect very strong flows of volume into KESC (bullish). Trend forecasting

oscillators are currently bullish on KESC. Momentum oscillator is current-

ly indicating that KESC is currently in an overbought condition.

RSI (14-day) 78.11 Total Assets (Rs in mn) 207,629.50

MA (10-day) 2.79 Total Equity (Rs in mn) (525.11)

MA (100-day) 2.26 Revenue (Rs in mn) 70,508.12

MA (200-day) 2.44 Interest Expense 6,823.64

1st Support 3.05 Loss after Taxation (14,641.22)

2nd Support 2.70 EPS 10 (Rs) (0.74)

1st Resistance 3.65 Book value / share (Rs) (0.02)

2nd Resistance 3.90 PE 11 E (x) -

Pivot 3.30 PBV (x) (137.87)

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

AMZV closed up 0.01 at 0.66. Volume was 114 per cent above average and

Bollinger Bands were 7 per cent narrower than normal. The company's prof-

it after taxation stood at Rs3.828 million which translates into an Earning Per

Share of Rs0.11 for the 1st quarter of current fiscal year (1QFY11).

AMZV is currently 17.5 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 indi-

cators reflect moderate flows of volume into AMZV (mildly bullish).

Trend forecasting oscillators are currently bullish on AMZV.

RSI (14-day) 49.08 Total Assets (Rs in mn) 466.52

MA (10-day) 0.68 Total Equity (Rs in mn) 222.19

MA (100-day) 0.65 Revenue (Rs in mn) 18.93

MA (200-day) 0.80 Interest Expense 29.21

1st Support 0.59 Loss after Taxation (11.47)

2nd Support 0.52 EPS 09 (Rs) (0.51)

1st Resistance 0.72 Book value / share (Rs) 9.87

2nd Resistance 0.78 PE 10 E (x) 1.50

Pivot 0.65 PBV (x) 0.07

AMZ Ventures Limited

Technical AnalysisFundamental Highlights

As on Dec 30, 2009

PAKRI closed up 0.78 at 16.56. Volume was 175 per cent above aver-

age (trending) and Bollinger Bands were 72 per cent narrower than nor-

mal. The company's profit after taxation stood at Rs88.468 million which

translates into an Earning Per Share of Rs0.29 for the nine months of

current calendar year (9MCY10).

PAKRI is currently 8.0 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 PAKRI at a relatively equal

pace. Trend forecasting oscillators are currently bearish on PAKRI.

RSI (14-day) 57.60 Total Assets (Rs in mn) 12,372.62

MA (10-day) 16.13 Total Equity (Rs in mn) 6,785.66

MA (100-day) 15.13 Revenue (Rs in mn) 2,170.95

MA (200-day) 18.01 Interest Expense 0.00

1st Support 16.05 Profit after Taxation 269.91

2nd Support 15.49 EPS 09 (Rs) 0.900

1st Resistance 16.91 Book value / share (Rs) 22.62

2nd Resistance 17.21 PE 10 E (x) 42.83

Pivot 16.35 PBV (x) 0.73

Pakistan Reinsurance Co Ltd

Technical AnalysisFundamental Highlights

As on Sep 30, 2009

DWSM closed down -0.01 at 3.78. Volume was 279 per cent above aver-age (trending) and Bollinger Bands were 22 per cent wider than normal.The company's loss after taxation stood at Rs205.486 million which trans-lates into a Loss Per Share of Rs5.63 for the nine months of current cal-endar year (9MFY10).DWSM is currently 60.5 per cent above its 200-day moving average andis displaying an upward trend. Volatility is extremely low when comparedto the average volatility over the last 10 trading sessions. Volume indica-tors reflect very strong flows of volume into DWSM (bullish). Trend fore-casting oscillators are currently bullish on DWSM.

RSI (14-day) 59.22 Total Assets (Rs in mn) 6,337.59

MA (10-day) 3.65 Total Equity (Rs in mn) (96.44)

MA (100-day) 2.14 Revenue (Rs in mn) 2,439.05

MA (200-day) 2.17 Interest Expense 297.87

1st Support 3.60 Loss after Taxation (233.58)

2nd Support 3.36 EPS 09 (Rs) (6.397)

1st Resistance 4.09 Book value / share (Rs) (2.64)

2nd Resistance 4.34 PE 10 E (x) -

Pivot 3.85 PBV (x) (1.43)

Dewan Sugar Mills Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,535.69 1,571.92 1,536.75 1,565.27 29.58 1.93Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

14,874,314 - - 65,194.15 mn 1,211,553.47 mn 1,565.27 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

11.29 3.67 32.54 55.94 4.96 1,527.44

Attock Petroleum 691 5.86 332.15 339.00 333.50 338.12 5.97 307124 374.20 287.99 300 20B - -Attock Refinery 853 7.03 119.82 125.80 119.71 125.44 5.62 3478088 137.20 79.23 - - - -BYCO Petroleum 3921 - 10.97 11.29 10.96 11.21 0.24 1737926 12.49 10.05 - - - -Mari Gas Company 735 16.68 120.59 123.20 121.50 123.07 2.48 40376 128.90 107.00 31 - - -National Refinery 800 4.13 269.86 282.00 270.00 278.99 9.13 319284 282.00 202.89 200 - - -Oil & Gas Development XD 43009 11.59 169.54 171.75 169.50 171.28 1.74 498055 171.75 144.61 55 - 15.00 -Pak Petroleum 11950 8.94 215.25 220.75 215.30 219.83 4.58 2868771 221.75 172.55 90 20B - -Pak Oilfields 2365 7.26 294.66 309.00 295.75 307.65 12.99 4951077 309.00 231.01 255 - - -Pak Refinery Limited 350 - 103.43 107.88 104.75 107.81 4.38 30919 114.50 55.00 - - - -P.S.O 1715 5.02 293.17 299.90 293.25 296.75 3.58 2309178 299.90 262.00 80 - - -Shell Gas LPG 226 - 33.00 33.99 33.00 33.51 0.51 5614 40.28 29.10 - - - -Shell Pakistan 685 10.61 202.09 207.44 202.24 206.95 4.86 65828 209.89 182.05 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

1,002.30 1,017.18 999.76 1,010.37 8.07 0.81Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

20,781,410 - - 47,070.70 mn 136,075.25 mn 1,011.79 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

7.07 0.61 8.64 16.68 2.36 1,002.30

(Colony) Thal 56 - 0.89 1.01 1.00 1.00 0.11 2000 2.00 0.52 - - - -Ali Asghar Textile 222 23.75 0.99 0.95 0.95 0.95 -0.04 5000 1.50 0.61 - - - -Amtex Limited 2594 9.34 4.05 4.23 4.10 4.11 0.06 170602 16.90 4.00 30 - - -Artistic Denim 840 6.45 23.04 24.18 22.35 23.21 0.17 443 24.59 19.10 20 - - -Azgard Nine 4493 - 9.34 9.67 9.20 9.33 -0.01 10711759 12.32 9.20 - - - -Bannu Woolen XD 76 0.47 12.90 13.50 13.50 13.50 0.60 3700 14.50 9.50 20 - - -Bata (Pak) 76 5.55 675.00 687.00 670.00 670.00 -5.00 554 747.48 436.00 - - - -Blessed Tex Mills 64 0.72 46.15 48.00 48.00 48.00 1.85 3500 51.90 45.25 50 - - -Brothers Textile 98 - 0.42 1.31 0.38 0.43 0.01 734 1.49 0.13 - - - -Chenab Limited 1150 - 3.02 3.17 3.00 3.08 0.06 184880 3.90 3.00 - - - -Colgate Palm 316 35.81 934.57 960.00 905.10 954.03 19.46 2115 960.00 680.00 - - - -Crescent Fibres Ltd 124 0.67 14.11 14.60 14.50 14.50 0.39 510 14.99 8.41 10 - - -Crescent Jute 238 - 0.88 1.00 0.32 0.85 -0.03 11984 1.38 0.16 - - - -D S Ind Ltd 600 - 1.72 1.84 1.71 1.76 0.04 95654 2.37 1.44 - - - -Dawood Lawrencepur 514 49.60 41.63 43.00 41.50 42.16 0.53 34022 47.00 36.10 5 - - -Ellcot Spinning 110 0.63 20.05 20.80 19.35 20.80 0.75 152 22.20 17.21 35 - - -Faisal Spinning 100 0.81 32.55 32.85 32.50 32.81 0.26 501 36.75 29.00 50 - - -Gadoon Textile XD 234 0.75 67.50 68.25 68.05 68.25 0.75 601 71.40 38.30 70 - - -Gul Ahmed Textile 635 4.37 29.00 30.45 27.61 30.44 1.44 3699 30.45 19.99 12.5 - - -Gulshan Spinning 222 0.89 7.45 7.30 7.29 7.30 -0.15 5000 10.30 6.30 10 20B - -Hira Textile Mills Ltd. 716 0.76 3.91 4.05 3.76 4.02 0.11 20387 4.88 3.35 10 - - -Ibrahim Fibres 3105 3.25 40.07 41.79 40.26 41.37 1.30 41010 42.75 34.05 20 - - -Ideal Spinning 99 0.54 5.36 6.36 5.00 6.36 1.00 13094 7.29 2.02 - - - -Idrees Textile 180 3.97 3.60 3.65 3.40 3.65 0.05 5501 4.50 2.60 10 - - -Indus Dyeing 181 2.88 311.90 296.75 296.31 296.31-15.59 345 350.15 209.03 50 - - -J K Spinning 184 0.97 6.24 7.00 5.76 6.35 0.11 8871 9.50 4.05 20 5B - -Janana D Mal 43 0.24 15.90 16.90 14.90 14.90 -1.00 1014 20.50 13.25 - - - -Jubilee Spinning 325 - 2.49 3.49 3.49 3.49 1.00 6200 5.50 2.47 - - - -Khalid Siraj 107 - 0.76 1.25 0.65 0.90 0.14 113555 1.25 0.28 - - - -Kohinoor Ind 303 - 1.66 1.78 1.63 1.68 0.02 17116 2.00 1.25 - - - -Kohinoor Textile 1455 3.77 5.00 5.54 4.96 5.28 0.28 91201 6.06 4.51 - - - -Liberty Mills 226 3.46 62.96 66.05 65.80 65.95 2.99 300 66.05 54.55 30 - - -Masood Textile 600 2.14 20.00 20.25 20.25 20.25 0.25 145 21.55 18.01 15 100R - -Mian Textile 221 - 0.60 0.60 0.60 0.60 0.00 1000 0.79 0.14 - - - -Moonlite (PAK) 22 - 6.40 7.40 6.80 7.39 0.99 4440 11.99 4.50 - - - -Nagina Cotton 187 0.82 16.17 16.70 16.00 16.00 -0.17 2999 17.50 12.80 20SD - - -Nishat (Chunian) 1596 1.93 22.10 23.20 22.30 23.20 1.10 3325290 25.14 16.80 15 - - -Nishat Mills 3516 5.62 62.41 65.53 62.80 65.53 3.12 5489611 65.80 46.62 25 45R - -Pak Synthetic 560 3.01 8.99 9.00 8.90 8.90 -0.09 2000 10.45 5.16 - - - -Prosperity 185 1.10 14.71 14.65 14.15 14.45 -0.26 4050 19.25 12.51 30 - - -Quetta Textile 130 0.65 37.98 39.87 39.86 39.87 1.89 200 47.00 25.80 20 - - -Ravi Textile 250 - 1.45 1.50 1.40 1.40 -0.05 167599 2.05 1.29 - - - -Rupali Poly 341 4.61 35.26 37.00 36.00 36.68 1.42 3080 38.10 31.25 40 - - -Salman Noman 42 1.91 5.32 5.90 4.50 4.50 -0.82 301 6.00 2.01 - 5B - -Sana Ind 55 3.42 46.00 46.49 44.03 45.06 -0.94 149 48.95 27.50 60 - - -Sapphire Textile 201 0.88 106.00 104.00 104.00 104.00 -2.00 13319 115.76 89.80 50 - - -Sargodha Spinning 312 0.51 2.60 2.90 2.65 2.65 0.05 200 3.43 1.40 5 - - -Service Ind 120 8.06 229.26 237.00 230.00 235.33 6.07 4386 276.50 169.00 - - - -Shadab Textile 30 0.37 13.40 13.20 13.20 13.20 -0.20 5000 15.09 7.56 10 - - -Shadman Cot 176 1.47 7.05 8.05 8.05 8.05 1.00 1000 15.00 7.00 - - - -Shahpur Textile 140 0.61 0.34 0.50 0.30 0.44 0.10 409 1.01 0.18 - - - -Shahtaj Textile 97 - 19.16 19.60 19.50 19.56 0.40 1300 21.90 15.61 45 - - -Suraj Cotton 180 0.81 35.27 36.00 35.25 36.00 0.73 7138 38.52 29.00 50 - - -Thal Limited 307 5.44 125.58 127.78 125.01 127.24 1.66 46939 132.00 86.50 80 20B - -Treet Corp 418 9.49 57.97 60.29 58.70 59.61 1.64 117586 63.30 37.25 - - - -ZahidJee Textile 341 0.52 3.49 4.00 3.90 3.90 0.41 7500 4.87 2.00 - - - -Zephyr Textile Ltd 594 5.00 3.92 3.80 3.80 3.80 -0.12 17000 4.90 2.35 - - - -Zil Limited 53 3.64 53.11 54.50 51.10 54.40 1.29 2404 58.99 36.00 35 - - -

Paid up Last 60 days 2010 2011

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,130.06 1,143.52 1,130.95 1,136.90 6.84 0.61Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

96,360 - - 3,763.71 mn 5,168.40 mn 1,136.90 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

2.88 0.31 10.64 6.27 2.18 1,121.80

AL-Abid Silk 115 3.99 35.25 37.01 37.01 37.01 1.76 474 37.01 23.00 -20B 20R - -Hussain Industries 106 - 7.24 7.90 6.32 7.35 0.11 20002 11.49 6.10 - - - -Pak Elektron 1174 3.55 14.00 14.25 14.00 14.08 0.08 50902 15.09 12.90 - 10B - -Tariq Glass Ind 231 2.51 21.13 21.25 20.55 21.00 -0.13 24967 21.40 15.90 17.5 - - -

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,689.40 1,715.80 1,669.97 1,707.64 18.24 1.08Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

538,898 - - 11,335.33 mn 229,160.84 mn 1,710.72 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

38.70 11.73 30.30 30.57 0.79 1,689.40

Adam Sugar 58 1.23 19.20 20.20 19.70 19.78 0.58 13186 20.20 11.15 25 - - -AL-Noor Sugar 186 3.76 51.13 51.69 51.00 51.55 0.42 1300 53.02 39.25 50 - - -Chashma Sugar 287 0.98 12.74 12.80 12.10 12.10 -0.64 30220 15.47 8.50 - - - -Clover Pakistan 94 12.41 73.43 75.95 75.50 75.93 2.50 2653 78.22 42.61 15 - - -Colony Sugar Mills 990 - 3.40 3.87 3.14 3.50 0.10 3004 5.70 2.60 - - - -Dewan Sugar 365 - 3.79 4.10 3.61 3.78 -0.01 219524 5.59 1.25 - - - -Faran Sugar 217 4.05 21.19 20.85 20.14 20.15 -1.04 5556 21.73 18.30 25 - - -Habib Sugar 600 7.52 32.77 33.50 32.80 33.46 0.69 111629 36.50 28.50 25 25B - -Habib-ADM Ltd 200 11.44 11.90 12.37 12.07 12.35 0.45 4739 16.30 11.69 40 - - -Hussein Sugar 121 - 10.99 11.00 10.00 10.99 0.00 145 13.65 9.00 - - - -J D W Sugar 490 3.14 89.00 91.78 88.00 88.54 -0.46 18840 92.50 65.25 7010B 12.5R - -Mehran Sugar 143 3.51 57.80 59.75 56.50 59.49 1.69 10649 68.49 50.50 35 20B - -Mirpurkhas SugarXDXB 84 4.02 50.00 51.79 48.11 48.25 -1.75 128 68.22 48.11 15 20B - -Mirza Sugar 141 0.65 6.00 6.45 6.00 6.39 0.39 7550 7.18 4.20 10 - - -Mithchells Fruit 50 9.54 77.97 81.86 78.50 78.52 0.55 511 81.86 61.50 - - - -National Foods 414 24.65 66.01 67.00 63.30 66.06 0.05 5575 75.50 39.01 12 - - -Nestle Pakistan 453 26.97 2421.00 2464.00 2420.00 2455.00 34.00 821 2550.00 1820.02 450 - - -Noon Pakistan 48 3.54 24.76 25.80 24.75 24.75 -0.01 151 27.30 17.51 12 - - -Noon Sugar 165 - 11.61 12.28 11.72 11.84 0.23 340 14.84 11.05 - - - -Pangrio Sugar 109 0.92 6.28 6.37 6.11 6.27 -0.01 5015 6.99 4.25 10 - - -Premier Sugar 38 8.42 44.64 46.80 45.00 45.90 1.26 282 53.81 32.50 - - - -Quice Food 107 - 2.12 2.60 2.20 2.58 0.46 80000 3.40 2.02 - - - -Sanghar Sugar 119 1.28 14.32 14.70 14.00 14.40 0.08 6527 15.00 13.00 15 - - -Shahmurad Sugar 211 6.70 9.96 10.60 10.22 10.25 0.29 8241 13.50 9.93 10 - - -Shahtaj Sugar 120 - 76.15 72.35 72.35 72.35 -3.80 502 100.26 57.00 - - - -Shakarganj Mills 695 - 5.46 6.35 5.99 5.99 0.53 501 7.88 3.75 - - - -Sindh Abadgar 104 5.28 10.50 11.20 10.99 10.99 0.49 103 11.20 4.75 10 - - -Tandlianwala 1177 309.09 35.50 34.00 34.00 34.00 -1.50 500 36.75 28.00 - - - -UniLever Pakistan 665 20.44 4315.21 4378.00 4252.56 4378.00 62.79 520 4610.00 3825.00 178 - - -

Paid up Last 60 days 2010 2011

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,182.04 1,205.92 1,178.66 1,195.54 13.50 1.14Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

1,083,869 - - 6,768.53 mn 43,432.92 mn 1,195.54 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

4.27 1.08 25.35 20.42 4.79 1,182.04

Agriautos Ind 144 5.70 74.00 76.00 73.10 75.20 1.20 9900 76.99 65.75 90 - - -Atlas Battery 101 5.81 188.48 195.00 189.99 194.68 6.20 25780 195.00 136.10 100 20B - -Atlas Honda 626 9.14 122.95 126.10 123.70 126.07 3.12 3910 128.90 94.00 - - - -Dewan Motors 890 - 2.22 2.47 2.26 2.40 0.18 648818 2.89 1.20 - - - -General Tyre 598 19.62 21.68 22.76 22.03 22.76 1.08 272001 25.24 21.00 20 - - -Ghandhara Nissan 450 3.42 4.76 5.10 4.85 4.92 0.16 10902 5.67 4.03 - - - -Ghani Automobile Ind 200 6.92 4.45 4.50 4.40 4.43 -0.02 142 5.75 4.00 - - - -Honda Atlas Cars 1428 - 11.39 11.70 11.21 11.30 -0.09 86928 13.40 9.65 - - - -Indus Motors 786 5.79 252.61 254.50 251.00 253.50 0.89 7774 282.45 217.10 150 - - -Pak Suzuki 823 11.03 68.22 71.00 68.50 69.26 1.04 17613 77.90 66.75 - - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,536.55 1,545.77 1,531.05 1,536.59 0.04 0.00Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

185,520 - - 1,336.62 mn 33,415.70 mn 1,547.84 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.33 3.17 38.02 131.49 15.78 1,536.55

Ados Pak 66 1.06 16.50 16.41 16.40 16.40 -0.10 999 20.85 14.12 - - - -

AL-Ghazi Tractor 215 5.65 224.75 235.98 226.01 235.98 11.23 43953 238.99 200.00 150 - - -

Dewan Auto Engineering 214 - 1.20 1.88 1.20 1.46 0.26 124029 2.40 0.21 - - - -

Ghandhara Ind 213 10.47 11.16 11.45 11.30 11.31 0.15 6079 14.80 10.55 - - - -

KSB Pumps 132 7.31 60.49 61.98 58.81 61.06 0.57 10315 83.49 58.81 - - - -

Millat Tractors XB 366 6.65 496.18 516.00 496.50 508.65 12.47 244746 516.00 390.00 650 25B - -

Pak Engineering 57 666.67 245.97 255.00 240.00 240.00 -5.97 104 324.80 233.00 100 - - -a

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

1,019.70 1,042.31 1,020.62 1,033.38 13.68 1.34Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

251,649 - - 3,043.31 mn 39,012.17 mn 1,038.51 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

2.87 1.26 43.91 15.55 5.43 1,019.70

Cherat Papersack 115 2.68 73.66 76.19 74.16 75.19 1.53 71804 83.23 34.00 20 25B - -

ECOPACK Ltd 230 - 2.47 2.59 2.46 2.50 0.03 73912 3.30 1.81 - - - -

Ghani Glass 1067 4.56 49.44 49.90 48.90 49.58 0.14 13339 61.10 45.30 25 10B - -

MACPAC Films 389 - 2.90 3.59 3.00 3.20 0.30 21339 4.05 1.60 - - - -

Merit Pack 47 61.00 23.99 25.00 24.40 24.40 0.41 201 25.90 14.47 - - - -

Packages Ltd 844 66.28 128.07 130.99 129.00 129.25 1.18 56748 136.74 100.11 - - - -

Siemens Engineering XD 82 10.10 1202.54 1225.00 1195.00 1224.49 21.95 240 1381.00 1120.00 900 - - -

Tri-Pack Films 300 8.99 120.28 124.80 122.00 123.24 2.96 14066 128.70 98.10 - - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

983.81 1,018.84 977.43 1,006.96 23.16 2.35Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

7,940,720 - - 54,792.74 mn 72,468.04 mn 1,010.11 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.07 0.57 7.10 19.04 2.36 983.81

Al-Abbas Cement 1828 - 3.21 3.45 3.15 3.19 -0.02 19017 3.98 2.80 - 100R - -Attock Cement 866 6.58 62.29 62.79 62.00 62.50 0.21 5224 65.99 57.60 50 - - -Balochistan Glass Ltd 858 - 2.77 3.19 2.66 2.98 0.21 2712 4.24 1.10 - - - -Berger Paints 182 - 22.32 22.89 21.21 21.94 -0.38 62217 24.16 14.01 - 122R - -Buxly Paints 14 - 13.61 14.49 14.00 14.00 0.39 1412 15.50 7.91 - - - -Cherat Cement 956 24.55 10.59 10.90 10.80 10.80 0.21 11460 12.75 9.51 - - - -Dadabhoy Cement 982 13.15 1.71 1.90 1.70 1.71 0.00 18507 2.49 1.31 - - - -Dandot Cement 948 - 2.12 2.50 2.23 2.50 0.38 15483 3.49 1.11 - - - -Dewan Cement 3574 - 2.16 2.29 2.01 2.12 -0.04 254083 3.10 1.30 - - - -DG Khan Cement Ltd 3651 125.54 29.05 30.25 29.16 30.13 1.08 3149084 32.10 23.40 - 20R - -Fauji Cement 6933 15.15 4.98 5.10 4.96 5.00 0.02 414574 5.55 4.52 - - - -Fecto Cement 502 3.75 7.24 7.30 7.20 7.20 -0.04 2010 8.20 4.25 - - - -Flying Cement Ltd 1760 - 1.80 1.90 1.60 1.76 -0.04 349512 2.25 1.60 - - - -Frontier Ceramics 77 - 2.20 2.50 2.00 2.00 -0.20 2025 5.00 1.18 - - - -Gharibwal Cement 2319 - 8.29 8.00 7.80 7.81 -0.48 1052 9.19 2.70 - - - -Javedan Cement 581 - 59.00 61.95 56.50 59.97 0.97 1520 63.00 56.05 - - - -Kohat Cement 1288 - 6.30 6.50 6.10 6.49 0.19 7250 8.70 5.50 - - - -Lafarge Pakistan Cmt. 13126 - 3.14 3.26 3.19 3.23 0.09 276883 3.79 2.71 - - - -Lucky Cement 3234 6.79 73.31 75.75 73.10 75.57 2.26 3054869 79.98 69.20 40 - - -Maple Leaf Cement 5261 1.31 2.78 2.94 2.76 2.81 0.03 145766 3.30 2.51 - - - -Maple Leaf(Pref) 541 3.77 4.35 5.35 4.78 5.13 0.78 19530 8.89 3.21 - - - -Pioneer Cement 2228 - 6.62 6.84 6.67 6.80 0.18 126450 8.58 6.52 - - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,055.58 1,097.94 1,067.25 1,083.58 28.01 2.65Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

153,399 - - 3,596.11 mn 10,573.17 mn 1,094.17 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

3.44 1.14 33.10 30.91 8.99 1,055.58

Crescent Steel 565 4.24 26.56 27.48 26.90 27.15 0.59 34705 28.45 24.00 30 - - -Dost Steels Ltd 675 - 2.63 2.87 2.65 2.65 0.02 15015 3.39 2.00 - - - -Huffaz Pipe 555 9.70 15.13 15.75 15.20 15.52 0.39 24600 16.05 12.25 - - - -International Ind 1199 12.10 57.35 58.90 57.76 58.08 0.73 56834 62.20 44.00 40 20B - -Siddiqsons Tin 785 11.36 9.00 10.00 9.25 10.00 1.00 22245 10.07 8.00 7.5 - - -

Paid up Last 60 days 2010 2011

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,161.02 1,214.89 1,180.62 1,212.48 51.45 4.43Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

259,913 - - 1,186.83 mn 3,360.64 mn 1,212.48 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

6.08 0.45 7.47 25.28 4.16 1,161.02

Century Paper 707 - 16.68 17.68 17.00 17.68 1.00 256706 19.50 15.28 - - - -

Pak Paper Product 50 9.04 46.00 47.98 43.76 47.00 1.00 802 48.90 38.61 2533.33B - -

Security Paper 411 7.01 43.78 45.45 44.80 45.40 1.62 2405 47.70 38.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,372.62 1,433.96 1,379.26 1,430.81 58.18 4.24Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

67,599,532 - - 52,251.88 mn 322,838.00 mn 1,430.81 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.64 3.02 35.00 48.81 5.65 1,372.62

Agritech Limited 3924 8.59 23.40 23.70 22.52 23.70 0.30 501 24.85 20.26 - - - -Bawany Air 68 66.50 7.71 8.65 7.98 7.98 0.27 230 12.75 7.16 5 10R - -BOC (Pak) 250 12.94 89.84 94.33 91.30 94.23 4.39 29702 94.33 72.00 15 - - -Clariant Pak 273 6.87 177.94 180.49 178.99 179.70 1.76 19059 185.95 149.72 - - - -Dawood Hercules 1203 8.18 192.47 198.50 194.00 197.36 4.89 148122 200.99 163.55 40 - - -Descon Chemical 1996 - 2.76 2.98 2.70 2.89 0.13 194092 3.74 1.99 - - - -Descon Oxychem Ltd. 1020 - 7.95 8.43 7.80 8.24 0.29 128334 9.25 3.41 - - - -Dewan Salman 3663 - 2.89 3.20 2.85 3.16 0.27 2666140 4.24 1.31 - - - -Dynea Pak 94 - 11.00 11.09 11.00 11.00 0.00 2400 13.79 9.15 15 - - -Engro Corporation Ltd 3277 10.77 190.47 196.94 191.49 196.10 5.63 3747305 200.88 173.30 40 - - -Engro Polymer 6635 - 14.15 14.49 14.12 14.43 0.28 186439 15.20 12.90 - - - -Fatima Fertilizer 22000 - 10.67 11.25 10.60 11.18 0.51 2406673 11.39 9.16 - - - -Fauji Fertilizer 6785 9.40 123.51 129.68 124.25 129.67 6.16 3500906 129.68 105.00 95 - - -Fauji Fert.Bin Qasim 9341 6.95 35.08 36.83 35.28 36.83 1.75 10595533 38.05 27.51 17.5 - - -Gatron Ind 384 2.33 43.44 44.35 43.49 43.50 0.06 276 46.59 38.03 20 - - -Ghani Gases Ltd 725 8.65 11.33 11.65 11.35 11.42 0.09 34052 13.85 11.25 - - - -ICI Pakistan 1388 8.24 141.30 147.15 141.76 146.22 4.92 806641 147.15 116.00 55 - - -Lotte Pakistan 15142 5.14 13.43 14.43 13.40 14.39 0.96 45284732 14.43 8.39 - - - -Nimir Ind Chemical 1106 - 1.95 2.05 1.89 2.02 0.07 287886 2.74 1.30 - - - -Sardar Chemical 60 - 0.90 1.10 1.10 1.10 0.20 2500 1.64 0.90 - - - -Shaffi Chemical 120 - 2.47 2.69 2.30 2.31 -0.16 2010 3.40 1.80 - - - -Sitara Chem Ind 214 10.58 125.50 130.50 128.01 129.12 3.62 2014 139.40 101.00 25 5B - -Sitara Peroxide 551 14.36 12.83 13.35 12.83 13.21 0.38 150779 14.69 8.00 - - - -Wah-Noble 90 7.07 35.90 36.75 36.00 36.75 0.85 3901 43.75 32.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

975.33 1,003.59 971.44 994.18 18.85 1.93Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

133,540 - - 3,904.20 mn 33,466.08 mn 1,003.31 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

7.77 1.73 22.31 44.54 5.73 975.33

Abbott (Lab) 979 9.55 107.04 109.85 108.00 109.00 1.96 9298 112.50 88.50 20 - - -Ferozsons (Lab) 250 6.61 87.00 88.88 87.00 87.50 0.50 3426 113.00 82.20 - 20B - -GlaxoSmithKline 1707 15.63 84.99 88.00 84.50 86.91 1.92 58214 89.98 66.50 - - - -Highnoon (Lab) 165 8.22 29.03 30.25 28.18 29.68 0.65 32865 30.25 23.50 - - - -IBL HealthCare Ltd 200 6.65 7.52 8.24 7.16 8.24 0.72 1604 9.00 7.00 - - - -Otsuka Pak 100 7.67 32.81 34.40 32.25 34.35 1.54 24205 35.15 27.50 - - 15 -Sanofi-Aventis 96 11.24 141.01 142.50 140.50 141.24 0.23 131 146.40 115.90 - - - -Searle Pak 306 5.43 60.05 60.50 60.00 60.39 0.34 3795 64.50 59.30 30 - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

729.62 744.42 730.29 737.35 7.73 1.06Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

12,884 - - 3,242.17 mn 12,899.13 mn 754.98 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

5.67 1.45 25.53 11.08 1.95 729.62

Pak Int Cont.Terminal 1092 7.16 70.78 72.25 71.00 71.58 0.80 9856 77.77 60.05 40 - - -PNSC 1321 39.77 36.27 37.00 36.01 36.59 0.32 3028 40.42 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

BOC Pakistan 11-Jan 17-Jan - - 17-Jan Buxly Paints # 11-Jan 19-Jan - - 19-Jan TRG Pakistan 12-Jan 20-Jan - - 20-JanShadman Cotton Mills # 12-Jan 18-Jan - - 18-Jan Kohinoor Mills # 13-Jan 20-Jan - - 20-Jan Mybank Ltd. # 13-Jan 19-Jan - - 20-Jan Summit Bank # 13-Jan 19-Jan - - 20-Jan Ellcot Spng Mills # 14-Jan 20-Jan - - 20-Jan Prosperity Weaving Mills # 14-Jan 20-Jan - - 20-Jan Mehran Sugar Mills 14-Jan 21-Jan - - 21-JanDawood Lawrencepur # 15-Jan 21-Jan - - 21-Jan Habib Sugar Mills 15-Jan 29-Jan 25.25(B) 07-Jan 29-JanLakson Tobacco # 18-Jan 25-Jan - - 25-Jan Nagina Cotton Mills # 19-Jan 25-Jan - - 25-Jan Sindh Abadgar's Sugar Mills 19-Jan 28-Jan 10 - 28-Jan

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Johnson & Phillips 8.94 9.5 7.96 9.3 0.36 2001Pakistan Cables 53.1 55.74 53.05 53.48 0.38 126TRG Pakistan Ltd. 3.45 3.63 3.42 3.48 0.03 1788255Murree Brewery Co. 90 94 91.9 92.7 2.7 42861Shakarganj Food 1.36 1.75 1.74 1.74 0.38 1000Grays of Cambridge 49.97 50.49 50 50 0.03 513Khyber Tobacco 28.31 29.72 29.72 29.72 1.41 500Lakson Tobacco 295.46 303.5 294 294 -1.46 637Pak Tobacco 110.5 116.02 110.01 116.02 5.52 11812Shifa Int.Hospitals 29.9 30 29.9 29.9 0 7008Eye Television 23.79 24.5 23.4 23.8 0.01 9713Media Times Ltd 53.2 55.85 50.55 51.43 -1.77 600P.I.A.C.(A) 2.29 2.48 2.25 2.43 0.14 335184Pak Services 168.25 162 160 162 -6.25 375AKD Capital XD 47.58 48.94 45.6 48.46 0.88 898Pace (Pak) Ltd. 2.67 2.78 2.7 2.76 0.09 280668Netsol Technologies 19.01 19.71 19.1 19.5 0.49 1006594

Symbols Open High Low Close Change Vol

Wednesday, January 5, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 260.80 points at 12,110.26. Volume was 144

per cent above average and Bollinger Bands were 5 per cent narrower

than normal. As far as resistance level is concern, the market will see

major 1st resistance level at 12,200.40 and 2nd resistance level at

12,290.55, while Index will continue to find its 1st support level at

11,934.80 and 2nd support level at 11,759.30.

KSE 100 INDEX is currently 17.2 per cent above its 200-day moving average

and is displaying an upward trend. Volatility is extremely high when compared

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

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

oscillators are currently bullish on INDEX. Momentum oscillator is currently

indicating that INDEX is currently in an overbought condition.

RSI (14-day) 72.01 Support 1 11,934.80

MA (5-day) 11,979.93 Support 2 11,759.30

MA (10-day) 11,915.71 Resistance 1 12,200.40

MA (100-day) 10,594.27 Resistance 2 12,290.55

MA (200-day) 10,339.66 Pivot 12,024.95

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 1.75 at 36.83. Volume was 349 per cent above average

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

FFBL is currently 22.4 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

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

ing oscillators are currently bullish on FFBL.

*Arif Habib Ltd 34.7 Sell

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Negative

RSI (14-day) 60.16 Free Float Shares (mn) 326.94

MA (10-day) 36.28 Free Float Rs (mn) 12,041.14

MA (100-day) 30.98 ** NOI Rs (mn) 49.11

MA (200-day) 30.11 Mean 36.01

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

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed up 2.43 at 76.51. Volume was 90 per cent above average and

Bollinger Bands were 22 per cent wider than normal.

NBP is currently 13.0 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

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

ing oscillators are currently bullish on NBP.

*Arif Habib Ltd 82.1 Buy

AKD Securities Ltd 61.96 Neutral

TFD Research 92.3 Positive

RSI (14-day) 68.56 Free Float Shares (mn) 318.44MA (10-day) 73.85 Free Float Rs (mn) 24,364.17MA (100-day) 66.55 ** NOI Rs (mn) 88.62MA (200-day) 68.08 Mean 75.48

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 3.12 at 65.53. Volume was 34 per cent above average and

Bollinger Bands were 13 per cent narrower than normal.

NML is currently 27.5 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on NML.

AKD Securities Ltd 59.97 Buy

TFD Research 74.2 Positive

RSI (14-day) 66.01 Free Float Shares (mn) 175.80MA (10-day) 63.10 Free Float Rs (mn) 11,520.17MA (100-day) 51.91 ** NOI Rs (mn) 75.15MA (200-day) 51.39 Mean 64.07

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed up 12.99 at 307.65. Volume was 207 per cent above average

(trending) and Bollinger Bands were 1 per cent narrower than normal.

POL is currently 28.3 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

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

ing oscillators are currently bullish on POL. Momentum oscillator is current-

ly indicating that POL is currently in an overbought condition.

*Arif Habib Ltd 317.2 Hold

AKD Securities Ltd 296.6 Buy

TFD Research 281.35 Neutral

RSI (14-day) 72.87 Free Float Shares (mn) 107.94MA (10-day) 293.94 Free Float Rs (mn) 33,208.40MA (100-day) 249.21 ** NOI Rs (mn) 365.64MA (200-day) 239.73 Mean 301.77

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed up 0.25 at 19.50. Volume was 180 per cent above average

(trending) and Bollinger Bands were 67 per cent narrower than normal.

PTC is currently 0.01 per cent below its 200-day moving average and is

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

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

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

tors are currently bearish on PTC.

AKD Securities Ltd 24.04 Buy

TFD Research 30.5 Positive

RSI (14-day) 54.70 Free Float Shares (mn) 585.00MA (10-day) 19.34 Free Float Rs (mn) 11,407.49MA (100-day) 19.00 ** NOI Rs (mn) 6.74MA (200-day) 19.51 Mean 19.41

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

Technical Analysis Leverage Position

Engro Corporation

Brokerage House Fair Value Rs Recommendations

Technical Outlook

ENGRO closed up 5.63 at 196.10. Volume was 201 per cent above aver-

age (trending) and Bollinger Bands were 28 per cent wider than normal.

ENGRO is currently 5.9 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

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

Trend forecasting oscillators are currently bullish on ENGRO.

*Arif Habib Ltd 176 Sell

AKD Securities Ltd 238.8 Buy

TFD Research 208.75 Neutral

RSI (14-day) 58.93 Free Float Shares (mn) 147.48MA (10-day) 194.41 Free Float Rs (mn) 28,921.14MA (100-day) 180.08 ** NOI Rs (mn) 55.78MA (200-day) 185.20 Mean 193.75

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed up 6.16 at 129.67. Volume was 352 per cent above average

(trending) and Bollinger Bands were 176 per cent wider than normal.

FFC is currently 18.1 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared to

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

reflect very strong flows of volume into FFC (bullish). Trend forecasting

oscillators are currently bullish on FFC. Momentum oscillator is currently

indicating that FFC is currently in an overbought condition.

*Arif Habib Ltd 127.8 Hold

AKD Securities Ltd 122.1 Accumulate

TFD Research 114.33 Negative

RSI (14-day) 73.79 Free Float Shares (mn) 373.19MA (10-day) 123.54 Free Float Rs (mn) 48,391.53MA (100-day) 110.07 ** NOI Rs (mn) 19.62MA (200-day) 109.73 Mean 126.78

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,322.98 1,355.46 1,312.79 1,343.21 20.24 1.53Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

5,634,070 - - 29,771.58 mn 18,129.59 mn 1,350.17 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

20.40 0.45 2.21 104.74 7.98 1,320.79

AL-Meezan Mutual F. 1375 6.84 8.10 8.40 8.21 8.21 0.11 105486 8.59 5.85 18.5 - - -Atlas Fund of Funds 525 1.92 4.51 4.80 4.54 4.75 0.24 170595 4.80 2.70 2.2 - - -B R R Guardian Mod. 780 4.14 1.78 1.88 1.70 1.82 0.04 16164 2.79 0.90 0 - - -Constellation Modaraba 65 2.59 1.11 1.88 1.01 1.14 0.03 2107 2.34 0.90 - - - -Elite Cap Modaraba 113 3.50 2.76 2.80 2.80 2.80 0.04 2500 3.09 1.73 5 - - -Equity Modaraba 524 10.31 1.37 1.65 1.62 1.65 0.28 49674 2.37 0.90 - - - -First Dawood Mutual F. 581 0.66 1.76 2.10 2.00 2.08 0.32 290708 2.28 1.30 - - - -Golden Arrow 760 2.25 3.06 3.23 3.13 3.15 0.09 45303 3.80 2.56 17 - - -H B L Modaraba 397 2.66 8.00 8.00 7.99 7.99 -0.01 1500 8.49 5.11 11 - - -Habib Modaraba 1008 6.03 6.75 7.00 6.95 6.99 0.24 20101 7.00 5.80 21 - - -I B L Modaraba 202 17.27 2.02 2.96 1.50 1.90 -0.12 31645 3.69 1.06 3 - - -Imrooz Modaraba 30 10.31 54.00 56.51 55.50 56.50 2.50 1250 67.00 42.90 76 - - -JS Growth Fund 3180 70.00 5.42 5.69 5.40 5.60 0.18 2037693 5.69 2.65 5 - - -JS Value Fund 1186 17.68 4.56 4.98 4.62 4.95 0.39 2195520 4.98 2.31 10 - - -Meezan Balanced Fund 1200 7.41 7.40 7.80 7.40 7.71 0.31 9000 8.25 5.15 15.5 - - -Nat Bank Modaraba 250 6.02 6.50 6.50 6.50 6.50 0.00 1800 7.74 4.50 10 - - -Pak Modaraba 125 5.80 0.96 1.20 1.16 1.16 0.20 581 2.00 0.30 3 - - -Paramount Modaraba 59 6.66 9.00 9.10 8.50 8.53 -0.47 2210 9.45 7.57 18 - - -PICIC Energy Fund 1000 1.97 6.35 6.89 6.37 6.78 0.43 102852 7.18 4.56 10 - - -PICIC Growth Fund 2835 8.44 12.81 13.22 12.70 13.17 0.36 378748 13.40 7.90 20 - - -PICIC Inv Fund 2841 7.36 6.04 6.50 6.10 6.48 0.44 156938 6.74 3.50 10 - - -Prud Modaraba 1st 872 2.36 1.00 1.04 1.00 1.04 0.04 10599 1.19 0.81 3 - - -Punjab Modaraba 340 - 1.59 1.42 1.40 1.40 -0.19 400 2.54 0.50 1 - - -Stand Chart Modaraba 454 4.58 9.20 9.35 9.21 9.35 0.15 546 10.00 7.81 17 - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

394.04 411.08 394.36 405.88 11.84 3.00Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

6,040,875 - - 30,336.44 mn 18,978.05 mn 409.82 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

11.07 0.26 0.91 99.56 3.43 394.04

AMZ Ventures 225 1.50 0.65 0.71 0.58 0.66 0.01 148363 0.95 0.45 - - - -Arif Habib Investments 360 3.47 17.21 17.79 17.01 17.61 0.40 20883 19.98 13.00 - 20B - -Arif Habib Limited 450 13.13 25.00 25.80 25.00 25.73 0.73 59620 28.95 24.40 - 20B - -Arif Habib Corp 3750 4.62 23.98 25.17 24.05 25.12 1.14 1725818 27.02 20.90 30 - - -Dawood Cap Mangt. XB 150 1.34 1.85 1.95 1.50 1.50 -0.35 724 2.14 1.05 - - - -Dawood Equities 250 - 1.75 1.84 1.72 1.78 0.03 4836 2.69 1.51 - - - -First National Equity 575 - 8.80 8.75 8.02 8.75 -0.05 210 10.92 6.84 - - - -Grays Leasing 215 - 1.60 2.50 1.15 2.44 0.84 4010 2.90 0.18 - - - -IGI Investment Bank 2121 18.44 2.91 2.95 2.95 2.95 0.04 10005 3.90 1.50 - - - -Invest and Fin Sec 600 702.00 6.95 7.07 6.86 7.02 0.07 7203 8.88 6.16 11.5 - - -Invest Bank 2849 - 0.70 0.85 0.70 0.70 0.00 18969 0.97 0.45 - - - -Ist Cap Securities 3166 - 3.25 3.48 3.30 3.33 0.08 16955 4.80 3.10 - 10B - -Ist Dawood Bank 626 0.64 1.80 1.94 1.80 1.80 0.00 16752 2.40 1.05 - - - -Jah Siddiq Co 7633 - 10.42 11.19 10.45 11.05 0.63 4165266 14.05 8.80 10 - - -JOV and CO 508 - 3.76 3.98 3.75 3.89 0.13 178480 5.38 1.96 - - - -JS Global Cap 500 7.42 27.00 27.65 27.49 27.62 0.62 3597 34.68 24.25 - - - -JS Investment 1000 27.88 6.38 7.16 6.43 6.69 0.31 1134728 7.59 5.10 - - - -KASB Securities 1000 - 4.37 4.65 4.41 4.52 0.15 22202 4.95 3.50 - - - -Orix Leasing 821 4.85 6.50 6.60 6.53 6.60 0.10 8570 7.29 4.70 - - - -Pervez Ahmed Sec 775 - 2.05 2.23 2.00 2.08 0.03 219495 2.70 1.41 - - - -

Paid up Last 60 days 2010 2011

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

896.07 906.32 872.79 874.01 -22.06 -2.46Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

161,435 - - 2,290.72 mn 10,047.58 mn 913.19 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.87 3.77 3.85 355.53 3.63 874.01

American Life 500 6.02 18.00 18.00 18.00 18.00 0.00 1000 19.85 16.03 - - - -

East West Life 455 - 2.90 3.18 2.75 2.76 -0.14 5999 4.62 2.08 - 20R - -

EFU Life Assurance 850 41.99 72.87 74.80 73.90 73.90 1.03 18555 86.95 57.15 - - - -

New Jub Life Insurance 627 29.33 45.88 46.00 43.60 43.70 -2.18 135881 49.31 39.95 - - - -

Paid up Last 60 days 2010 2011

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,158.84 1,197.48 1,161.68 1,187.68 28.84 2.49Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

23,612,294 - - 257,548.02 mn 715,259.81 mn 1,191.64 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

8.34 1.16 13.94 40.49 4.85 1,158.84

Allied Bank Limited 7821 6.88 67.83 71.22 68.45 70.77 2.94 585236 71.24 50.00 20 - - -Askari Bank 6427 8.25 16.90 17.42 17.00 17.32 0.42 408335 18.10 14.23 - - - -Bank Alfalah 13492 14.41 10.77 11.38 10.84 11.24 0.47 3454332 11.50 8.30 - - - -Bank AL-Habib 7322 8.08 35.93 37.72 36.10 37.50 1.57 756635 37.72 30.86 - - - -Bank Of Khyber 5004 5.56 4.10 4.25 4.14 4.17 0.07 11097 4.70 2.57 - - - -Bank Of Punjab 5288 - 9.42 9.69 9.35 9.65 0.23 826201 10.59 8.00 - - - -BankIslami Pak 5280 915.00 3.49 3.69 3.47 3.66 0.17 467672 3.88 2.77 - - - -Faysal Bank 7309 5.00 15.07 15.84 15.20 15.51 0.44 465291 17.10 13.10 - 20B - -Habib Bank Ltd 10019 7.61 119.49 122.30 119.50 121.87 2.38 627959 125.29 93.00 - - - -Habib Metropolitan Bank 8732 8.61 27.95 28.95 28.00 28.14 0.19 59351 29.28 18.02 - - - -JS Bank Ltd 8150 - 2.51 2.58 2.50 2.52 0.01 71561 3.00 2.25 - 66R - -KASB Bank Ltd 9509 - 2.40 2.60 2.50 2.59 0.19 20773 2.90 2.16 - - - -MCB Bank Ltd 7602 10.11 223.32 229.50 224.01 227.97 4.65 1601540 230.15 189.10 55 - - -Meezan Bank 6983 9.37 16.70 17.70 16.85 17.70 1.00 1179111 17.70 14.05 - - - -Mybank Ltd 5304 - 2.70 2.94 2.70 2.87 0.17 1861 3.10 1.90 - - - -National Bank 13455 6.68 74.08 76.98 74.35 76.51 2.43 7208508 77.97 62.58 - - - -Network Mic Bank 300 - 1.60 1.60 1.60 1.60 0.00 101 2.40 0.62 - - - -NIB Bank 40437 - 2.88 2.97 2.84 2.95 0.07 810036 3.18 2.50 - - - -Samba Bank 14335 - 1.87 2.00 1.86 1.98 0.11 114364 2.65 1.51 -63.46R - -Silkbank Ltd 26716 - 2.58 2.66 2.57 2.64 0.06 1659292 3.05 2.50 - - - -Soneri Bank 6023 - 8.00 8.30 8.01 8.01 0.01 25764 8.48 5.05 - - - -Stand Chart Bank 38716 13.23 8.48 8.60 8.25 8.60 0.12 19502 9.04 6.15 - - - -Summit Bank Ltd 5000 - 3.55 3.78 3.55 3.65 0.10 123128 4.23 2.43 - - - -United Bank Ltd 12242 7.83 65.59 67.10 65.55 66.61 1.02 3237772 70.65 51.51 10 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

757.87 783.25 761.29 779.32 21.45 2.83Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

2,729,102 - - 11,111.34 mn 48,339.25 mn 784.13 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

12.83 0.67 5.20 79.54 6.20 757.87

Adamjee Insurance 1237 24.91 83.41 86.10 83.82 85.94 2.53 811307 91.75 63.05 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,486.21 1,559.73 1,483.13 1,555.84 69.62 4.68Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

678,176 - - 12,202.80 mn 33,272.30 mn 1,555.84 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

9.49 1.08 11.41 66.79 7.04 1,473.03

Sui North Gas 5491 8.11 25.99 27.28 25.71 27.24 1.25 250583 34.75 25.71 20 - - -Sui South Gas 8390 3.29 20.87 21.90 20.95 21.83 0.96 427593 30.23 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,277.14 1,344.20 1,281.97 1,331.36 54.22 4.25Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

49,548,135 - - 95,369.29 mn 109,161.83 mn 1,331.36 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

14.37 1.34 9.35 104.13 7.25 1,274.13

Genertech 198 - 0.76 0.90 0.82 0.87 0.11 32802 1.45 0.60 - - - -Hub Power 11572 6.96 36.75 38.25 36.95 37.98 1.23 3060572 38.25 32.75 50 - - -Japan Power 1560 - 1.63 1.86 1.70 1.71 0.08 457230 2.25 1.20 - - - -KESC 7932 - 2.96 3.55 2.95 3.38 0.42 35626973 3.55 1.98 - 7.8R - -Kohinoor Energy 1695 11.67 21.00 21.00 20.90 21.00 0.00 32004 25.25 17.95 15 - - -Kohinoor Power 126 2.91 4.62 4.78 4.30 4.78 0.16 1062 5.69 4.01 - - - -Kot Addu Power 8803 5.13 40.46 42.48 40.50 42.26 1.80 1746722 42.48 38.35 50 - - -Nishat Chunian Power Ltd 3673 3.65 15.63 16.63 15.80 16.63 1.00 2742939 16.63 10.85 - - - -Nishat Power Ltd 3541 27.29 16.07 17.01 16.05 16.92 0.85 5279752 17.01 11.56 - - - -Sitara Energy Ltd 191 3.54 18.50 19.00 18.50 18.99 0.49 6085 23.00 17.98 20 - - -Southern Electric 1367 - 2.16 2.35 2.20 2.26 0.10 550893 2.80 2.05 - - - -Tri-star Power XD 150 - 0.99 1.14 0.98 0.99 0.00 11101 1.75 0.65 - - - -

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,136.04 1,159.20 1,137.03 1,150.11 14.07 1.24Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

5,104,278 - - 50,077.79 mn 79,481.55 mn 1,151.74 P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

6.18 0.79 12.84 62.56 10.13 1,136.04

Pakistan Telecomm Co A 37740 13.00 19.25 19.60 19.30 19.50 0.25 4350972 20.12 18.21 17.5 - - -Telecard 3000 0.65 2.17 2.28 2.17 2.20 0.03 232648 2.69 1.97 1 - - -WorldCall Tele 8606 - 2.76 2.87 2.70 2.78 0.02 520658 3.45 2.32 - - - -Wateen Telecom Ltd 6175 - 3.52 3.79 3.56 3.59 0.07 117153 4.25 3.35 - - - -

Paid up Last 60 days 2010 2011

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

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

Atlas Insurance 369 6.07 38.18 39.77 38.15 38.19 0.01 2991 39.90 28.81 - - - -

Central Insurance XB 279 7.77 67.00 70.30 68.00 68.35 1.35 2253 70.75 47.51 10 10B - -

Century Insurance 457 6.98 10.67 11.30 11.09 11.16 0.49 9703 12.00 9.42 - - - -

EFU General Insurance 1250 - 42.47 43.87 42.60 43.75 1.28 31315 48.63 34.76 - - - -

Habib Insurance 400 3.57 14.86 15.39 14.90 15.00 0.14 43803 15.39 10.04 - - - -

IGI Insurance 718 17.53 92.73 94.99 93.00 94.49 1.76 1875 99.88 71.02 10 20B - -

New Jub Insurance 791 15.95 58.00 59.16 59.16 59.16 1.16 300 60.90 52.25 - - - -

Pak Reinsurance 3000 42.46 15.78 16.65 15.79 16.56 0.78 1606316 17.20 12.86 - - - -

PICIC Ins Ltd 350 - 7.84 8.84 8.00 8.84 1.00 195078 8.84 1.85 - - - -

Premier Insurance 303 6.29 11.49 11.75 11.50 11.63 0.14 2625 12.00 8.00 - - - -

Shaheen Insurance 200 - 12.61 13.35 12.05 13.01 0.40 602 14.53 11.65 - - - -

Silver Star Insurance 253 4.38 7.05 7.05 6.99 7.05 0.00 19756 8.17 6.01 - - - -

United Insurance XB 400 2.43 6.75 7.40 6.50 7.40 0.65 385 7.40 4.55 - - - -

Universal Insurance 210 - 3.38 3.49 2.85 3.49 0.11 771 3.75 2.21 - - - -

UP TO 100 VOLUME

SAIF 4.20 4.44 4.44 4.44 0.24 100AABS 90.35 94.80 94.80 94.80 4.45 100SAZEW 20.68 20.64 20.64 20.64 -0.04 100MFTM 1.20 1.02 1.02 1.02 -0.18 87MWMP 1.56 1.85 1.60 1.82 0.26 53POAF 9.78 8.78 8.78 8.78 -1.00 50ICCT 1.26 1.78 1.78 1.78 0.52 50GLPL 62.50 62.70 62.70 62.70 0.20 50THCCL 18.25 18.25 18.02 18.02 -0.23 48HINO 134.00 130.00 128.00 128.13 -5.87 40FUDLM 6.05 6.15 6.13 6.14 0.09 33HWQS 20.49 21.51 20.00 20.13 -0.36 21AGIC 10.63 11.00 10.62 10.65 0.02 20RMPL 2099.65 2126.99 2013.00 2126.99 27.34 18KOHS 4.08 4.95 3.31 4.13 0.05 17AZAMT 2.59 2.60 2.20 2.23 -0.36 16BIFO 59.00 56.11 56.11 56.11 -2.89 15CSM 0.63 0.64 0.58 0.61 -0.02 14KASBM 1.71 1.31 1.31 1.31 -0.40 14CML 2.54 2.60 2.17 2.50 -0.04 14TOWL 6.26 6.03 6.03 6.03 -0.23 14BFMOD 3.21 3.21 3.21 3.21 0.00 13SCL 92.11 92.11 92.11 92.11 0.00 13SHEZ 115.00 120.50 116.01 116.01 1.01 12NBF 3.80 3.75 3.12 3.75 -0.05 11AGSML 6.00 7.00 5.60 5.60 -0.40 11STCL 8.15 8.90 8.70 8.70 0.55 11BWCL 21.10 21.10 21.10 21.10 0.00 10SMCPL 7.25 7.15 7.15 7.15 -0.10 10EMCO 3.26 3.00 2.99 2.99 -0.27 10UPFL 1100.00 1101.00 1101.00 1101.00 1.00 7BAFS 58.00 58.95 58.90 58.95 0.95 6FECS 47.04 49.39 49.39 49.39 2.35 6GVGL 27.00 28.30 26.50 28.00 1.00 6ASFL 5.72 5.00 5.00 5.00 -0.72 5FFLM 1.65 1.80 1.74 1.74 0.09 5MODAM 1.49 1.55 1.49 1.49 0.00 5SCLL 2.80 2.89 2.89 2.89 0.09 5GUSM 6.97 7.80 6.07 6.82 -0.15 4SJTM 1.48 1.50 0.49 0.50 -0.98 4PKGI 7.50 7.30 7.11 7.30 -0.20 2CWSM 1.34 1.27 1.27 1.27 -0.07 2DSML 3.50 2.50 2.50 2.50 -1.00 2SSML 1.80 2.30 1.85 2.08 0.28 2WYETH 1051.70 1100.00 1010.00 1100.00 48.30 2PHDL 33.97 35.66 32.28 35.66 1.69 2ESBL 2.70 2.36 2.36 2.36 -0.34 1SIBL 3.37 3.99 3.99 3.99 0.62 1DMTM 5.33 5.79 5.79 5.79 0.46 1FZCM 70.00 73.48 73.48 73.48 3.48 1KOSM 0.90 0.90 0.90 0.90 0.00 1MQTM 8.30 8.43 8.43 8.43 0.13 1PRET 29.25 30.00 29.74 29.74 0.49 1RCML 36.45 36.90 36.85 36.85 0.40 1TATM 34.49 35.49 35.49 35.49 1.00 1SMTM 6.10 6.49 6.49 6.49 0.39 1ISTM 6.88 7.49 7.49 7.49 0.61 1KML 2.20 2.92 2.92 2.92 0.72 1MEHT 57.20 60.00 59.24 59.24 2.04 1BCL 44.50 43.76 43.76 43.76 -0.74 1EXIDE 186.57 190.00 189.98 189.98 3.41 1PTEC 2.12 2.20 2.20 2.20 0.08 1LPGL 15.88 16.87 16.87 16.87 0.99 1PGCL 22.00 22.00 22.00 22.00 0.00 1HADC 0.70 0.78 0.78 0.78 0.08 1DIIL 13.90 14.89 14.88 14.88 0.98 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

POL-JAN 296.01 309.99 296.63 308.66 12.65 1927000

NBP-JAN 74.48 77.39 74.65 76.89 2.41 1171500

FFBL-JAN 35.30 37.06 35.35 37.06 1.76 1028500

NML-JAN 62.81 65.95 62.76 65.95 3.14 964500

ANL-JAN 9.45 9.70 9.31 9.41 -0.04 490500

ENGRO-JAN 191.80 197.85 192.22 197.42 5.62 352500

PPL-JAN 215.60 221.05 216.00 219.98 4.38 262000

PSO-JAN 294.48 300.50 295.00 298.26 3.78 188500

MCB-JAN 223.77 229.39 224.06 228.34 4.57 158500

DGKC-JAN 29.27 30.39 29.60 30.29 1.02 134000

UBL-JAN 65.83 67.40 66.50 67.09 1.26 114000

PTC-JAN 19.21 19.70 19.55 19.59 0.38 87500

FFC-JAN 124.00 130.20 126.00 130.20 6.20 78500

AICL-JAN 84.04 86.63 84.30 86.46 2.42 75500

NCL-JAN 22.38 23.40 23.01 23.15 0.77 49500

OGDC-JAN 168.33 171.00 168.51 170.80 2.47 49500

LUCK-JAN 74.05 76.00 74.00 75.72 1.67 46500

NETSOL-JAN 19.23 19.75 19.65 19.65 0.42 8000

HUBC-JAN 37.22 37.50 37.50 37.50 0.28 5000

BOP-JAN 9.50 9.72 9.65 9.72 0.22 3500

Symbols Open High Low Close Change Vol

ZERO VOLUME

ANSS 5.00 5.10 5.10 5.10 0.10 0.00

BCML 12.43 11.43 11.43 11.43 -1.00 0.00

BILF 1.26 1.40 1.40 1.40 0.14 0.00

DADX 18.51 19.50 19.50 19.50 0.99 0.00

DINT 26.80 26.70 26.70 26.70 -0.10 0.00

DKTM 3.10 2.98 2.98 2.98 -0.12 0.00

GUTM 18.00 19.00 19.00 19.00 1.00 0.00

HAFT 19.00 19.05 19.05 19.05 0.05 0.00

HAJT 0.90 0.69 0.69 0.69 -0.21 0.00

ICL 34.50 34.35 34.35 34.35 -0.15 0.00

IDEN 11.00 12.00 12.00 12.00 1.00 0.00

KOHTM 1.40 1.25 1.25 1.25 -0.15 0.00

MUBD 3.00 2.75 2.75 2.75 -0.25 0.00

REWM 9.40 9.39 9.39 9.39 -0.01 0.00

RUBY 5.00 5.50 5.50 5.50 0.50 0.00

SALT 63.00 62.00 62.00 62.00 -1.00 0.00

SGPL 1.25 1.20 1.20 1.20 -0.05 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 45.40 3.05 2.95 3.35 3.55 3.25

Allied Bank Limited 71.26 69.10 67.40 71.85 72.90 70.15

Attock Cement 47.04 62.05 61.65 62.85 63.20 62.45

Arif Habib Corp 53.42 24.40 23.65 25.50 25.90 24.80

Arif Habib Limited 45.58 25.20 24.70 26.00 26.30 25.50

Adamjee Insurance 53.80 84.50 83.00 86.75 87.55 85.30

Askari Bank 56.40 17.10 16.85 17.50 17.65 17.25

Azgard Nine 33.31 9.15 8.95 9.60 9.85 9.40

Attock Petroleum 64.76 334.75 331.35 340.25 342.35 336.85

Attock Refinery 58.12 121.50 117.55 127.60 129.75 123.65

Bank Al-Falah 61.89 10.90 10.60 11.45 11.70 11.15

BankIslami Pak 64.74 3.55 3.40 3.75 3.85 3.60

Bank.Of.Punjab 48.65 9.45 9.20 9.75 9.90 9.55

Dewan Cement 48.43 2.00 1.85 2.25 2.40 2.15

D.G.K.Cement 52.32 29.45 28.75 30.55 30.95 29.85

Dewan Salman 59.28 2.95 2.70 3.30 3.40 3.05

Dost Steels Ltd 38.79 2.55 2.50 2.80 2.95 2.70

EFU General Insurance 48.41 42.95 42.15 44.20 44.70 43.40

EFU Life Assurance 43.18 73.60 73.30 74.50 75.10 74.20

Engro Chemical 58.93 192.75 189.40 198.20 200.30 194.85

Faysal Bank 58.74 15.20 14.90 15.85 16.15 15.50

Fauji Cement 46.53 4.95 4.90 5.10 5.15 5.00

Fauji Fert Bin 60.16 35.80 34.75 37.35 37.85 36.30

Fauji Fertilizer 73.79 126.05 122.45 131.50 133.30 127.85

Habib Bank Ltd 63.28 120.15 118.40 122.95 124.00 121.20

Hub Power 65.48 37.20 36.45 38.50 39.05 37.75

ICI Pakistan 65.72 142.95 139.65 148.30 150.45 145.05

Indus Motors 49.76 251.50 249.50 255.00 256.50 253.00

J.O.V.and CO 47.20 3.75 3.65 4.00 4.10 3.85

Japan Power 49.64 1.65 1.60 1.80 1.90 1.75

JS Bank Ltd 44.46 2.50 2.45 2.60 2.65 2.55

Jah Siddiq Co 44.21 10.60 10.15 11.35 11.65 10.90

Kot Addu Power 72.54 41.00 39.75 43.00 43.75 41.75

K.E.S.C 78.11 3.05 2.70 3.65 3.90 3.30

Lotte Pakistan 70.31 13.70 13.05 14.75 15.10 14.05

Lucky Cement 50.85 73.85 72.15 76.50 77.45 74.80

MCB Bank Ltd 65.21 224.80 221.65 230.30 232.65 227.15

Maple Leaf Cement 41.39 2.75 2.65 2.90 3.00 2.85

National Bank 68.56 74.90 73.30 77.55 78.60 75.95

Nishat (Chunian) 56.95 22.60 22.00 23.50 23.80 22.90

Netsol Technologies 63.51 19.15 18.85 19.80 20.05 19.45

NIB Bank 52.02 2.85 2.80 3.00 3.05 2.90

Nimir Ind.Chemical 56.26 1.95 1.85 2.10 2.15 2.00

Nishat Mills 66.01 63.70 61.90 66.45 67.35 64.60

Oil & Gas Dev. XD 66.36 169.95 168.60 172.20 173.10 170.85

PACE (Pakistan) Ltd. 42.86 2.70 2.65 2.80 2.85 2.75

Pervez Ahmed Sec 42.39 1.95 1.85 2.20 2.35 2.10

P.I.A.C.(A) 58.21 2.30 2.15 2.55 2.60 2.40

Pioneer Cement 43.47 6.70 6.60 6.85 6.95 6.75

Pak Oilfields 72.87 299.25 290.90 312.50 317.40 304.15

Pak Petroleum 67.42 216.50 213.20 221.95 224.10 218.65

Pak Suzuki 42.97 68.20 67.10 70.70 72.10 69.60

P.S.O. XD 64.94 293.35 290.00 300.00 303.30 296.65

P.T.C.L.A 54.70 19.35 19.15 19.65 19.75 19.45

Shell Pakistan 57.37 203.65 200.35 208.85 210.75 205.55

Sui North Gas 46.07 26.20 25.15 27.75 28.30 26.75

Sitara Peroxide 46.94 12.90 12.60 13.45 13.65 13.15

Sui South Gas 52.58 21.20 20.60 22.15 22.50 21.55

Telecard 43.34 2.15 2.10 2.25 2.35 2.20

TRG Pakistan 31.49 3.40 3.30 3.60 3.70 3.50

United Bank Ltd 60.22 65.75 64.85 67.30 67.95 66.40

WorldCall Tele 47.21 2.70 2.60 2.85 2.95 2.80

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Dewan Sugar Mills Ltd 05-Jan 3.30

Quice Food Industries Ltd 06-Jan 11.00

Alfalah GHP Principal Protected Fund 06-Jan 4.00

Alfalah GHP Principal Protected Fund II 06-Jan 4.00

Noon Sugar Mills Ltd 06-Jan 12.30

Mitchell's Fruit Farms Limited 06-Jan 11.00

Shakarganj Mills Limited 06-Jan 12.30

Premier Sugar Mills 06-Jan 11.00

Chashma Sugar Mills Ltd. 06-Jan 12.00

Crescent Sugar Mills 06-Jan 10.30

Mubarak Textile Mills Ltd 07-Jan 10.00

Quetta Textile Mills Ltd 07-Jan 11.00

Colony Sugar Mills Ltd 07-Jan 11.30

BOARD MEETINGS

Company Date Time

Wednesday, January 5, 2010 8

QUETTA: Chief of Army Staff(COAS), General Ashfaq ParvezKayani visited Sui Cantonment,where he inaugurated MilitaryCollege Sui announcing establish-ment of Education City in Sui.

Governor and Chief MinisterBalochistan inaugurated AcademicBlock and the Hostel of BalochistanPublic School Sui respectively.

A large number ofParliamentarians, Baloch tribal eld-ers, military officials and locals werepresent at the occasion.

Governor and Chief MinisterBalochistan appreciated the efforts ofArmy in bringing education andsocial development to remote areasof Balochistan.

In his address, COAS spoke aboutvarious projects initiated by PakistanArmy, with the support of locals andthe Provincial Government.

In the education field, he said thatpresently 22,786 Baloch students arestudying in Army and Frontier Corpsrun educational institutions.

In addition, 4,268 Baloch studentsare benefitting from ChamlangBeneficiary Education Program,whereas, 662 Baloch students arestudying in reputed institutions ofother provinces.

To enhance technical skills ofBaloch youth for better job opportu-nities, Balochistan Institute of

Technical Education (BITE) man-aged by Pakistan Army, has thus fartrained 1,673 individuals. In thisregard, Gwadar Institute of TechnicalEducation will also start functioningsoon.

COAS hoped that establishment ofEducation City at Sui will open newavenues for the development andprosperity in remote areas ofBalochistan.

With regard to Army's contribu-tions in development of other socialsectors in Balochistan, COAS men-tioned about Chamlang Projectwhich created job opportunities forapprox 74,052 locals. Besides, a 50bed hospital is being constructed atSui under Army's supervision andwith the support of PakistanPetroleum Limited, to improvehealth facilities in the area.

COAS also expressed satisfac-tion over the results of Armyrecruitment drive in Balochistanwhereby 3,350 young men fromBalochistan have recently joinedvarious units of Pakistan Army,thus contributing towards defenceof the Motherland.

COAS concluded that developmentand prosperity of Balochistan willcontribute towards a peaceful andprogressive Pakistan. Army wouldcontinue to play its part in the securi-ty of the Country. -Agencies

Education citySui blueprinted

Gen Kayani inaugurates Military College

Raisani pourspraises overedu city plan

QUETTA: Chief MinisterBalochistan Nawab MohammadAslam Raisani has termed the plan ofconverting the cantonment into theeducation city an ingenious idea toremove the grievances of people ofBalochistan.

Talking to mediamen during hisvisit to Pakistan Education City, Sui(PECS) here, he hailed the establish-ment of PESC in Sui as saying with-drawal of forces from Dera Bugti wasthe one of the pledges made by PPPgovernment which it materialised intrue letter and spirit.

"It would be pen and not the gunthat can steer Balochistan out of pre-vailing crisis," he noted and addedthat use of force had never been theresolution to any problem in thehuman history.

Expressing his displeasure over thekilling of low profile people, he saidthese are against the norms ofBalochs and those who are involvedin such activities are not serving thecause of Baloch people. -Agencies

ISLAMABAD: HigherEducation Commission(HEC) through its `StudentLoan Programme' willextend the opportunity ofhigher education to all theneedy students of publicand private institutions ofhigher learning.

Talking to APP,Executive Director HEC,Sohail Naqvi informed thatthe HEC is in process ofdesigning a model fordevelopment of a sustain-able Student LoanProgramme in Pakistanwhich can help brilliantstudents in acquiring high-er studies, extending loanfacility to them.

The programme willbenefit the students whoare unable to get highereducation due to financialconstraints, followingtransparent procedures andbest international prac-tices. "The scheme will notonly cover tuition fees ofthe students but all costs aswell," he said.

"We are discussing howthe programme will be

executed for those studentsin Pakistan who cannotafford to meet expenses ofhigher education. The stu-dents will be provided loanon subsidised interest ratewith the condition ofreturning as soon as theybecome independent andget jobs" ,Dr Sohail said.

The main focus is to pre-pare the policy documentfor the programme whichcan be acceptable for allthe stakeholders, he said.

Mostly regular banks areat the front in extendingloan facility for the stu-dents and this programmewill be implementation incollaboration with them.

The commercial banksshow lack of interest insuch projects as they arenot sure about the recoveryof loans, but these bankshave no tools to verifywhether the student is adeserving one, Dr Sohailobserved. A mechanismwill be placed at the insti-tution level to verify thefinancial conditions of thestudents to make the pro-

gramme more transparent. "We are preparing a pre-

liminary design of the pro-gramme and discussingmodalities in various sce-narios with the specialemphasis on supportingbanks and protecting thesefrom risk loan defaults,"Dr Sohail said. NationalEducation Policy-2009 hasset target to increase enrol-ment at higher educationlevel from existing 4.6 percent (1.1 million approxi-mately) including collegesand distance education to10 per cent by 2015 and 15per cent by 2020 whichmeans tripling the enrol-ment of higher educationsector in the next six years,he mentioned. Recently,HEC officials held a meet-ing with the other stake-holders and discussed thedesigning and develop-ment of the draft of theprogramme in compliancewith the directives of thePresident of Pakistan todevelop a sustainableStudent Loan Programme.-APP

HEC to lend higheredu to the deserving

Student Loan Programme for the needy scholars

No goodnews onNational

InternshipsISLAMABAD: A large num-ber of post graduate students inthe country are unable to get thedesired experience under theNational InternshipProgramme, because of theirirrelevant placement in the pub-lic sector departments.

The President of IslamabadChamber of Commerce &Industry, Mahfooz Elahi saidthat the National InternshipProgramme has failed toachieve its objective in provid-ing right experience to the tal-ented youth according to theireducation.

He said that this year Rs3.6billion has been allocated forNational Internship Programmefor providing internships toaround 30,000 students of HECrecognized universities but alarge portion of this amountwill be wasted again.

As per policy, students areinducted for internship in thepublic sector only and majorityof them are placed in thosedepartments which are totallyirrelevant to their education,Elahi said. Before starting jobs,students are required to under-go internships to get the practi-cal experience and knowledgerelevant to their studies butunder the National InternshipProgramme, they are unable toget desired experience.

President ICCI said that gov-ernment should revisit its poli-cy and internship must also beoffered in the Private sector,where students can have betteropportunities of getting goodexperience in the private sectorenvironment. -Agencies

HYDERABAD: Vice ChancellorUniversity of Sindh Prof Dr Nazir AMughal has said that he would start inspect-ing the schedule of students meeting hoursdedicated by teachers --to be posted by fac-ulty members in front of their offices forinformation of their students beside theallocated credit hours of teaching, as part ofacademic reforms from January 15.

He informed faculty heads in the meet-ing of the Deans' Council to finalise theschedule of semester reforms to be fullyimplemented in teaching departmentsduring the ongoing academic session.

The VC said that he is sure about imple-mentation of semester system in its truesprit during the academic year 2011 andhoped that the deans who are academicheads would check it and will help in itsfurther improvement.

He said that academic reforms would beimplemented step by step in the University

to raise the standard of higher educationand research activities.

The Vice Chancellor termed the semes-ter system good saying it'll help studentsrepose more confidence in their teachersas well as respect.

The meeting also decided that summerteaching at the University as well as itsOld Campus Hyderabad in addition toregular teaching for fresh, improver andfailed candidates would be initiated dur-ing the month of May and some keycourse in first instance would be intro-duced. For this purpose a feasibilityreport will be submitted by the deans ofthe faculties.

The meeting also decided that a copy ofsyllabus would be handed over to the stu-dents during their classes for their guid-ance while the faculty member wouldintroduce themselves before the studentsin the class. -APP

SU VC to take stockof students’ meeting

NUST learnsabout toolsof policingplagiarism

ISLAMABAD: HigherEducation Commission(HEC) in collaboration withNational University ofSciences and Technology(NUST) arranged a trainingsession for the faculty ofNUST to curb plagiarism inthe universities to promotequality research culture.

Dr Asif Raza, Pro Rector,chaired the session. DrKhalid Latif from School ofElectrical Engineering andComputer Science(SEECS), NUST introducedintegration ofM o o d l e / L e a r n i n gManagement Systems(LMS) and Turnitin.

Turnitin allows studentsand instructors to reviewmatches between the sub-mitted work and the internetsources.

Citations, quotations, andbibliographic material areall scanned by the Turnitinto determine an overall sim-ilarity percentage.

Trunitin has been providedto 60 public sector universi-ties in order to check cut-paste text in documents i.e.papers, theses, reports.

Many universities areusing LMS for keeping trackof whole academic activity.Turnitin can be integrated inthese LMS systems to savetime and effort.

Moodle is an Open SourceLMS, developed initially atCurtin University Australia,to automate the administra-tion, documentation, track-ing, and reporting of train-ing events.

LMS provides an onlineplatform for both the teach-ers and students for extend-ing learning outside theclassroom boundaries.

Dr Khalid mentioned howthe LMS team managed tosuccessfully integrateMoodle and Turnitin. Hethoroughly demonstratedhow the system works.

Muneer Ahmed, DeputyDirector (QualityAssurance) HEC demon-strated three components ofTurnitin i.e. OriginalityCheck, Peer Mark andGrade Mark. -Agencies

KARACHI: The Sir Syed Universityof Engineering and Technology(SSUET) conducted a "CampusRecruitment Programme" in which amultinational company operating in 64countries around the globe held the testfor hiring internees and recruitment forjob positions.

A spokesperson of the institution saidthat around 150 final year students ofElectronic Engineering Departmentappeared in the test.

Engr Muhammad Adil Usman,Member Board of Governors, Sir SyedUniversity of Engineering andTechnology, in his inaugural addresssaid that SSUET is the only privateengineering university which has pro-duced over 10,000 engineering gradu-ates since its inception.

Aligarh Institute of Technology(AIT), a sister concern of SSUET, hasawarded certificates and diploma toover 12,000 professionals and is now

planning to conduct degree programmesin the field of Business Administrationand Financial Management. He said thatboth SSUET and AIT continue to strivefor imparting quality education and pro-ducing top professionals to serve thecountry and overseas.

He said that "Campus RecruitmentProgramme" will continue and nationaland multinational organizations andcompanies will visit the university toconduct test and interview of potentialcandidates in future. Registrar ShahMahmood H Syed said that basic pur-pose of this programme is to introducestudents to the practical world andguide them how to appear in the testand interview for the job. MuhammadYahya Waliullah, Director IT andStatistical Bureau, SSUET, gave adetailed presentation on career guid-ance and focused on how to tailor CVsand attract the attention of the organisa-tion.-APP

Foreign co interviewsSSUET’s final-yearists

Campus Recruitment Programme

SUI: Chief of Army Staff General Ashfaq Parvez Kayani speaks during the

inauguration ceremony of military college. -Online

BANGKOK: Tokyo rubberfutures jumped 3 per cent toanother record high onTuesday, supported by a betterglobal economic outlook andlimited supply from producingcountries, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for June delivery rose11.8 yen to settle at 426.3 yen($5.21) per kg. It went as high as426.6 yen, the highest ever. Oilhovered near its highest level inmore than two years as highermanufacturing activity in indus-trialised economies and winterweather fanned expectations US

crude inventories would contin-ue to fall.

The dollar inched down afterrising in Asia early on Tuesday,with the yen on the backfoot,after better manufacturing andconstruction data suggested theUS economy would acceleratein 2011. "There were someprofit-hunters that sold con-tracts and capped the rise in

TOCOM prices. However,price were expected to remainhigh over the next couple ofweeks as supply was still limit-ed," one dealer said.

Thailand and Malaysia havebeen hit by unseasonablyheavy rain while Indonesia isstill in a longer-than-expecteddry season, traders said. -Reuters

Record high Tokyorubber set to rise further

9Wednesday, January 5, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1320 1260

January (3rd Wednesday) 1320 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for December 31 2010

LME Official Prices, US$ per tonne for December 31 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2230 2456 9739 2585 24940 26940 2432 2270Cash seller 2240 2461 9739.5 2587 24960 26945 2432.5 22803-months buyer 2185 2467 9660 2563 24945 26870 2441 22953-months seller 2195 2468 9665 2563.5 24950 26920 2442 230515-months buyer 2140 2518 9380 2510 24525 26425 2470 232015-months seller 2150 2523 9390 2515 24625 26475 2475 233027-months buyer 2140 2553 8930 2467 23750 2443 237527-months seller 2150 2558 8940 2472 23850 2448 2385

LONDON METAL EXCHANGE (METALS)

NEW YORK: Oil droppedmore than 2 per cent onTuesday, falling from a 27-month high as profit-takingstruck the commodities com-plex following a series of peaksover the thin holiday tradingperiod.

Dealers said the abrupt sell-ing across energy, metal andagricultural markets reflected acorrection in therally that hadcapped 2010rather than a sud-den reversal of theoptimism thatmade commodi-ties the top assetclass last year.Trading volume recovered to itshighest levels since mid-December.

"We had an end of year run-up and now we are getting thebeginning of the year sell-off,"said Stephen Schork, presidentat the Schork Group inVillanova, Pennsylvania.

Additional pressure camefrom a rebound in the dollar,which turned positive on animproving US economic out-

look.US crude oil for February

delivery fell $2.35, or 2.57 percent, to $89.20 a barrel at 1620GMT, sliding from an intradaypeak of $92.07. It was thebiggest one-day decline sincemid-November.

In London, ICE Brent crudefor February fell $1.79 to$93.05 a barrel, well off an

early $95.74 peak.Copper and gold both fell

more than 2 per cent whilecocoa and sugar fell by around3 per cent in the broadest retreatin commodity markets since amid-November rout. But USstock indexes were littlechanged as optimism over theeconomic outlook was offset bya decline in consumer stocks.

The retreat by US oil futurescomes after they settled at a 27-

month peak above $91 a barrelon Monday as US andEuropean manufacturing datasuggested improving economicgrowth that could bolster oildemand.

"Built into pricing for com-modities was a premium forflight to safety," said JohnKilduff, partner at AgainCapital LLC in New York.

"With thee c o n o m i crecovery nowin plain viewand equitiescoming backinto favor, thatvestige ofsafety is losing

its appeal. It's happening withoil and there's a similar free fallin precious metals."

Investors will be eyeing theFederal Open MarketCommittee minutes from theDec. 14 meeting for clues on theUS central bank's outlook on theeconomy and intentions aboutkeeping intact recent initiativesto stimulate a faltering econom-ic recovery. The Fed minutes aredue at 1900 GMT. -Reuters

Oil backs below $90 afterseries of 27-month highs

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Tuesday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmillFeb11/Mar11 1020.00,Apr11/Jun11 1023.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr111100.00-25.00, May11/Jul111085.00-15.00, Aug11/Oct111010.00-10.00, Nov11/Jan121020.00-10.00.

SUNOIL: EU dlrs tonneextank six ports optionFeb11/Mar11 1505.00+5.00,Apr11/Jun11 1465.00-5.00,Jul11/Sep11 1495.00+5.00,Oct11/Dec11 1395.00-5.00.

LINOIL: Any origin dlrstonne extank RotterdamJan11/Feb11 1377.50-5.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Jan111310.00-2.50, Feb11 1305.00-2.50, Mar11 1305.00+2.50,Apr11/Jun11 1275.00-5.00,Jul11/Sep11 1265.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Feb11 1307.50,Mar11 1307.50.

PALMOIL: RBD dlrs tonnefob Malaysia Feb11 1262.50-2.50, Mar11 1262.50-2.50.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111272.50-2.50, Mar11 1272.50-2.50, Apr11/Jun11 1262.50-7.50, Jul11/Sep11 1240.00-12.50, Oct11/Dec11 1230.00.

PALM STEARIN: Dlrs tonnefob Malaysia Jan11 1240.00-10.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamJan11/Feb11 1895.00-5.00,Feb11/Mar11 1885.00-5.00,Mar11/Apr11 1875.00-15.00.

CASTOROIL: Any origindlrs tonne extank RotterdamFeb11/Mar11 1925.00+0.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

4-Jan-2011 CRUDE100 FE11 US$ Per Barrel 92.08 92.53 91.40 91.91 109 91.63 91.91 1184-Jan-2011 CRUDE100 MA11 US$ Per Barrel 93.10 93.12 92.50 92.80 20 92.55 92.80 174-Jan-2011 CRUDE100 AP11 US$ Per Barrel 93.81 93.81 93.52 93.52 - 93.29 93.52 24-Jan-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 31.16 31.21 30.53 30.74 446 30.71 30.74 664-Jan-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 31.23 31.23 30.77 30.77 - 30.74 30.77 -4-Jan-2011 GOLD 01oz FE11 US$ Per Troy Ounce 1423.20 1424.00 1405.00 1408.80 926 1416.30 1408.80 1,0014-Jan-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1424.00 1425.20 1405.80 1409.90 1,201 1417.30 1409.90 1,6154-Jan-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1425.30 1426.00 1407.00 1411.00 915 1417.40 1411.00 4724-Jan-2011 GOLD 100oz FE11 US$ Per Troy Ounce 1417.00 1423.20 1406.50 1408.80 12 1416.30 1408.80 74-Jan-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1424.30 1424.30 1409.90 1409.90 - 1417.30 1409.90 -4-Jan-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1425.40 1425.40 1409.90 1409.90 - 1417.40 1411.00 -4-Jan-2011 GOLD JA11 Per 10 grms 39272.00 39272.00 38883.00 38883.00 - 39070.00 38883.00 304-Jan-2011 GOLD FE11 Per 10 grms 39104.00 39281.00 38786.00 38892.00 5 39079.00 38892.00 104-Jan-2011 GOLD MA11 Per 10 grms 39296.00 39296.00 38907.00 38907.00 - 39095.00 38907.00 -4-Jan-2011 KILOGOLD JA11 Per 10 grms 39244.00 39244.00 38855.00 38855.00 - 39043.00 38855.00 -4-Jan-2011 KILOGOLD FE11 Per 10 grms 39254.00 39254.00 38865.00 38865.00 - 39052.00 38865.00 -4-Jan-2011 TOLAGOLD50 JA11 Per Tola 45774.00 45774.00 45320.00 45320.00 - 45538.00 45320.00 -4-Jan-2011 TOLAGOLD100 JA11 Per Tola 45774.00 45774.00 45320.00 45320.00 - 45538.00 45320.00 -4-Jan-2011 MINIGOLD MON Per 10 grms 40376.00 40376.00 39968.00 39968.00 - 40158.00 39968.00 -4-Jan-2011 MINIGOLD TUE Per 10 grms 40318.00 40318.00 40011.00 40011.00 - 40201.00 40011.00 -4-Jan-2011 MINIGOLD WED Per 10 grms 40332.00 40332.00 39925.00 39925.00 - 40114.00 39925.00 -4-Jan-2011 MINIGOLD THU Per 10 grms 40347.00 40347.00 39939.00 39939.00 - 40129.00 39939.00 -4-Jan-2011 MINIGOLD FRI Per 10 grms 40361.00 40361.00 39954.00 39954.00 - 40143.00 39954.00 -4-Jan-2011 TOLAGOLD MON Per Tola 46799.00 46799.00 45952.00 45952.00 3 46174.00 45952.00 34-Jan-2011 TOLAGOLD TUE Per Tola 46306.00 46361.00 46001.00 46001.00 1 46224.00 46001.00 14-Jan-2011 TOLAGOLD WED Per Tola 46320.00 46378.00 45903.00 45903.00 1 46123.00 45903.00 14-Jan-2011 TOLAGOLD THU Per Tola 46394.00 46394.00 45919.00 45919.00 - 46140.00 45919.00 -4-Jan-2011 TOLAGOLD FRI Per Tola 46411.00 46411.00 45935.00 45935.00 - 46157.00 45935.00 64-Jan-2011 IRRI6W 06JA11 Per 100 kg 3454.00 3454.00 3427.00 3427.00 - 3454.00 3427.00 -4-Jan-2011 RICEIRRI - 6 JA11 Per 100 kg 3468.00 3468.00 3441.00 3441.00 - 3468.00 3441.00 -4-Jan-2011 RBD PALMOLEIN JA11 Per Maund 5377.00 5425.00 5377.00 5425.00 - 5377.00 5425.00 -4-Jan-2011 KIBOR3M 11-Mar Per Rs. 100 86.20 86.21 86.20 86.21 - 86.20 86.21 -4-Jan-2011 KIBOR3M 11-Jun Per Rs. 100 85.33 85.34 85.33 85.34 - 85.33 85.34 -

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

SYDNEY : Experts of an Austrian art forwarding company remove the world's largest gold coin, a 2007

Canadian $ 1,000,000 Maple Leaf with a weight of 100 kilos and a diameter of 53 cm from Dorotheum auction

house. The coin, made exclusively of pure 999.99/1000 gold, was bought by a Spanish precious metals trading

company for 3.27 million euros, its exact material worth, from the estate of an insolvent investment firm. -Reuters

LONDON: Copper fell from arecord high on Tuesday aftermanufacturing data fromaround the world flagged eco-nomic improvement and specu-lation rose of a possible rollback of easy monetary policyfor the new year.

London Metal Exchangebenchmark copper for deliveryin three months closed at$9,580 a tonne, down fromFriday's closing ring tradingbid of $9,660.

The metal used in power andconstruction had earlierreached a record $9,754 atonne. Other metals rose, withnickel touching its highestsince May at $25,300 a tonneand lead hitting its highestsince mid-November at $2,610.

Much of the last year's rallyhad been on the back of expec-tations of almost limitless liq-uidity, said BNP Paribas ana-lyst Stephen Briggs.

"If that's withdrawn a bit thenperhaps there's a little lessappetite for risky assets," hesaid. "Things have gotten over-cooked... the dollar has alsoturned around.. they were over-due for a correction."

The latest data out from theUnited States manufacturingsector further brightened theeconomic picture for theworld's top economy asNovember factory ordersrebounded from a contractionin October.

"The data was stronger thanexpected...we will continue tosee strong industrial metalsprices as the global economycontinues to recover stronglyfrom 24 months ago," said ana-lyst Robin Bhar at CreditAgricole.

Copper is widely expected tobuild on its nearly uninterrupt-ed rally in the second half of

2010 as ore grades decline, newmines remain scarce and topbuyer China grows.

The world's No. 3 coppermine, Chile's Collahuasi, hasrestarted exports via an alterna-

tive port. But deliveries are notyet enough to lift a two-week-old force majeure, prompted byan accident at the mine's mainsea terminal, that has rattledmetal markets.

"The undertone is still prettymuch bullish and the markethas begun the year with sometail-wind," a trader said.

Copper has been benefitingfrom a tightening market,where stocks in LME ware-houses have tumbled more than30 per cent since the middle ofFebruary last year. Howeverlatest data showed LME stocksrose 125 tonnes to 377,675tonnes.

Lead inventories rose 275tonnes to 208,550 tonnes, com-ing close to their May 2000peak of 208,650 tonnes.

Lead closed at $2,609 a tonneversus Friday's close of $2,560.

Nickel changed hands last at$25,155 a tonne from $24,950.

Aluminium closed at $2,485versus Friday's close of $2,467a tonne. It rose to $2,495 earli-er, just $5 short of two-yearhighs at $2,500 fromNovember.

Zinc ended at $2.470 up from$2,440. Tin finished at $26,350a tonne versus $26,870. It isnearing record highs of$27,500 from Nov. 9. -Reuters

Copper getsoff record on

easing worries

Sugar fallson strong $;cocoa falls

LONDON: ICE raw sugarfutures fell in a reversal of earli-er sharp gains on Tuesday as thedollar strengthened, while cocoaextended losses as concerns oversupplies from Ivory Coast easedafter a disputed election.

Arabicas also fell, with down-side potential limited by tightavailability of high-quality beansafter a 77 per cent surge in pricesin 2010.

ICE raw sugar futures fell asthe dollar strengthened, havingearlier corrected higher in a re-adjustment after a 10 per centsell-off on Dec. 30 and as somedealers cited talk that funds werere-weighting sugar in portfolios.

ICE March raw sugar wasdown 0.35 cent or 1.1 per cent at31.77 cents a lb at 1547 GMTand below a 30-year peak of34.77 cents a lb touched on Dec.29. London March white sugarreversed earlier sharp gains andwas down $2.80 or 0.4 per cent at$774.70 per tonne in thin volumeof 2,404 lots at 1548 GMT.

Cocoa prices were lower as thefocus remained on the smaller-than-expected impact of thepolitical impasse in top producerIvory Coast.

ICE March cocoa traded $97 or3.2 per cent lower at $2,938 atonne in light volume of 662 lots.London second-month, Maycocoa was down 49 pounds or2.4 per cent to 1,980 pounds pertonne in slim turnover of 1,630lots. Arabica coffee prices easedbut remained near a 13-1/2 yearhigh touched in December,underpinned by tight supplies.

ICE second-month, March ara-bicas were down 5.0 cents or 2.1per cent at $2.355 a lb at 1551GMT, under pressure from thestronger dollar.

London second-month, Marchrobustas were down $18 or 0.9per cent at $2,079 per tonne inmoderate volume of 7,015 lots. -Reuters

KUALA LUMPUR: Malaysiancrude palm oil hit a fresh 33-month high on Tuesday as partof a weather-driven rally inglobal vegetable oil markets.

Heavier-than-usual rainsstalled harvesting in top produc-ers Indonesia and Malaysia, anddry weather slowed soy plant-ings in South America, raisingconcern over tight supplies.

Prospects of shrinking sup-plies come as top Asian buyerssuch as China need to buildinventories for Lunar New Yearholidays in early February,which run for about 10 days.

"The palm oil market is pac-ing itself for more gains. Theconsensus is that in the first

quarter prices will strengthen asadverse weather intensifies anddemand grows," said a traderwith a foreign commodities bro-kerage.

The benchmark March 2011crude palm oil contract on BursaMalaysia Derivatives rose 0.9per cent to 3,888 ringgit($1,268.722) per tonne, afterearlier going as high as 3,905ringgit -- a level unseen sinceMarch 10, 2008.

A Goldman Sachs analyst saidpalm oil's price cycle may peakin the first half of 2011 as Asianbuyers chase vegetable oil sup-plies that are shrinking due toadverse weather.

Crude oil hovered near its

highest price levels in more thantwo years, which tends to sup-port prices of vegetable oils inthe bioethanol markets.

US soyoil for January deliveryrose 0.7 per cent in Asian trad-ing hours, with some traders stillpricing in the impact of drierArgentine weather on soyyields.

But a forecast for improvedweather in the South Americancountry may trigger some sell-ing pressure later on, regionaltraders in Asia said.

The most active Sept 2011soyoil on China's DalianCommodity Exchange rose 1.3per cent after a long holidayweekend. -Reuters

Palm oil at 33-mth highin weather-driven rally

LONDON: Gold tumbled morethan 2 per cent on Tuesday andwas on track for its biggest one-day loss since early Novemberas the dollar rose and investorsopted for assets seen as higherrisk, like stocks, at commodi-ties' expense.

Expectations that the euro-zone debt crisis could worsen,concerns over thepotential for infla-tion in developingeconomies and anincreased focuson the US deficitare set to under-pin investmentdemand for gold,however, analysts said.

Spot gold was bid at$1,384.20 an ounce at 1609GMT, against $1,414.00 late inNew York on Monday. US goldfutures for February deliveryfell $37.70 an ounce to$1,385.20.

The metal reached its highestin nearly a month on Monday at$1,423.57 an ounce, but strug-gled to hold gains after pur-chasing managers' indexesshowed manufacturing growthquickened in the United States

and Europe, boosting riskappetite.

"The PMI data in particular issuggesting things are gettingbetter rather than worse,"Macquarie analyst HaydenAtkins said. "Maybe gold willtake a bit of a back seat from aperformance point of view forthe next month or so."

"Pressure (on gold) is expect-ed to return over the next weekor two based on our expectationfor a reversal in oil prices, gainsin the stock market and generalstability in the dollar," MFGlobal said in a note.

While risk appetite was firmin the early trading days of2011, plenty of safe-haven sup-port remains for gold, as con-cerns persisted over debt levelsin the euro-zone and over theoutlook for US growth.

"The majority of factors for

gold are very positive," saidCredit Suisse precious metalsanalyst Tom Kendall.

"If you were looking for neg-atives, you would have to saythe lack of any sizeable dehedg-ing programme this year fromthe miners would be one thatyou could pick up on, but fromthe investment community, sen-

timent is stillvery muchbullish towardsgold."

But golddemand in theworld's biggestbullion con-sumer, India,

was weak on Tuesday as thecountry's wedding seasonneared its end. "There is lessdemand as prices are reallyvolatile," said one dealer."Some stagnation is coming."

Spot silver slid to $29.89 anounce from $30.66 an ounce,retreating from the previoussession's peak of $31.22, itshighest since 1980.

Platinum was at $1,744.75 anounce against $1,766, whilepalladium was at $771.50against $789.97. -Reuters

Gold sheds nearly 2pcas risk appetite grows

Shanghai copper falls

Shanghai's third month

copper contract fell 50 yuan

to 71,800 yuan, having

touched a 43-month high of

72,460 yuan earlier.

Indian sugar

slips on

weak demandMUMBAI: Sugar prices inIndia fell on Tuesday afternoonon subdued domestic demandand a pick-up in cane crushing,though a rise in overseas mar-kets cushioned the downside,analysts and dealers said.

"In the physical marketdemand was weak... inMaharashtra mills have so farcrushed higher amount of cane,but lower recovery rate is still aconcern," said AshwiniBansod, a senior analyst at MFGlobal Commodities India.

In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyeased 0.42 per cent to 2,838rupees ($63.2) per 100 kg.

At 3:14 p.m., the most-tradedM grade sugar contract forJanuary delivery on India'sNational Commodity andDerivatives Exchange (NCDEX)was 1.01 per cent lower at 2,946rupees per 100 kg, after hitting acontract low of 2,932 rupees.India has asked sugar mills toregister for unrestricted sugarexports from Monday, a govern-ment statement said, a step thatcould help mills make timelypayment to cane growers by tak-ing advantage of the current highglobal prices. -Reuters

Sell off after recent rally pressures commodities

CAPE TOWN: On thethird day of the decidingTest in Newlands, theworld's best fast bowlerterrorised the batsmen ofthe No. 1 team duringfrightening spells of accu-rate outswing bowled athigh speed. Most did notsurvive the menacingattack, but the best bats-man in the world did, andhe dragged his team for-ward through the harshestof circumstances. The bat-tle between Dale Steyn,oozing aggression everyball, and Sachin Tendulkar,

who was probably beatenmore times today than anyother day, and yet remainedsteadfast, was worth travel-ling unreasonable distancesto see. Both championswere winners, for Steynripped out five in theinnings, while Tendulkarfought hard for his 51stcentury. Their efforts leftthe contest even - Indialead's was merely 2 - andensured that the serieswould be decided by a sec-ond-innings shootout underthe Table Mountain.

The absence of the same

degree of pace, swing,seam movement and hostil-ity when India's fastbowlers attacked SouthAfrica's batsmen onlyincreased awe for Steyn'sscarcely believable effort.Graeme Smith and AlviroPetersen made a promisingstart to the chase, adding50 runs for the first wicket.It was only whenHarbhajan Singh, fizzingthe ball off a wearing pitch,struck twice towards theclose that India once againbrought the game into bal-ance.-Cricinfo

10Wednesday, January 5, 2011

Bayern Munich's players are trainingat Aspire Academy in Doha

Kumblesays no

to IPL IVMUMBAI: Former Indian legspinner Anil Kumble who alsocaptained Royal ChallengersBangalore, has withdrawn fromthis weekend's IPL auction, cit-ing business commitments. Hehad been among the 22 playerswith the highest reserve price ofUS$400,000 for the IPL auctionto be held in Bangalore."I wishto withdraw from the playersauction for IPL IV scheduledfor the 8th and 9th of January2011 in Bangalore," Kumblesaid in a press release. "I haveenjoyed my stint at the IPL sofar and thank all concerned forthe support extended."

Kumble retired from interna-tional cricket in 2008 andremains India's leading wicket-taker in Test matches (619) andone-dayers (337). In November2010, Kumble won the elec-tions to become president of theKarnataka State CricketAssociation, and he is also thevice-chairman of the state'sWildlife Board.

In the IPL, Bangalore had aforgettable inaugural seasonunder Rahul Dravid and startedpoorly in 2009 with KevinPietersen at the helm. Kumbletook over as leader midwaythrough that season and helpedturn round Bangalore's form,taking them to the final and alsocaptained them to the semi-finals last year. The IPL chiefoperating officer SundarRaman tweeted that Kumble'sabsence will be felt. "Jumbo[Kumble's nickname] will bemissed in IPL. Been an inspira-tion for many youngsters."-Online

DOHA: Three Pakistan Testcricketers suspended overallegations of spot-fixing leftTuesday for Qatar to appearat an international tribunalthat could ban them from thegame. An InternationalCricket Council (ICC) anti-corruption tribunal headedby Michael Beloff QC willhear the case in Doha fromJanuary 6-11. The two othermembers of the tribunal areAlbie Sachs of South Africaand Sharad Rao of Kenya.Former Test captain SalmanButt, and bowlersMohammad Asif andMohammad Aamer, weresuspended by the ICC inSeptember following spot-fixing allegations againstthem during the Lord'sTest against England a monthearlier.

The suspension followed asting operation by Britain'sNews of the World claimingthat several Pakistani playerstook money from a book-maker to bowl deliberate no-balls and bat maiden overs.Salman and Aamer had their

appeals against suspensionrejected in October, whileAsif withdrew an initialappeal. Salman's appeal topostpone the hearing wasalso rejected last month.

Salman is represented byBritish-based lawyer YasinPatel and Asif by AllanCameron, brother of BritishPrime Minister DavidCameron, while Aamer'slawyer is Shahid Karim fromPakistan. Talking to reportersat Lahore airport, Aamer saidhis priority was to clear hisname. "My lawyer has pre-pared the case extensivelyand I hope that I will becleared," said Aamer, who isaccused of delivering delib-erate no-balls during theLord's Test for money - acharge he has denied. "Thisis the toughest period of mylife but I am confident that itwill be over and I will beplaying for Pakistan soon,"said Aamer.

Punishments the playersface range from a five-yearsuspension to life bans.-Online

Tainted trioset to face

ICC tribunal

WHANGAREI: Pakistan'sthree day tour cricket matchagainst New Zealand XI endedin a draw on Tuesday. In theironly warm-up ahead of Friday'sfirst test against the BlackCaps, Pakistan were dismissedfor 287 before lunch atWhangarei's Cobham Oval.Starting at 234 for eight,Pakistan tail wagged adding 51runs for the 10th wicket.Skipper Misbahul-Haq man-aged to score 126 not out. Tim

Southee dismissed TanvirAhmed for 25 as Pakistan fin-ished 97 runs short of NewZealand XI's first innings totalof 384.

James Franklin also took awicket, as Sohail Tanvir edgedto Reece Young for a duck,while Chris Martin (3-69) andDaniel Vettori (3-30) were thestars of the show.

New Zealand XI then battedfor 32 overs in their secondinnings reaching 111 for four

before stumps were calledearly. Franklin was the topscorer with 30, while TimMcIntosh also enjoyed sometime at the crease making 26.

Pakistan struck early in NewZealand XI's second inningsdismissing Brendon McCullum(18) and Kane Williamson (0)within the first five overs, bothfalling to Umar Gul. ReeceYoung, who is set to make histest debut on Friday, finishedon 19 not out..-Online

Pak-NZ XI boutends in stalemate

LAHORE: Pakistan FootballFederation (PFF) will organisethe first-ever AFC Level 1Goalkeeping Coaching Coursefrom March 10-15 here.Goalkeeping coaches will betrained to imbibe specialisedskills for their trade. Thiscourse covers more aspects offootball as goalkeepers are ofgreat importance for the out-come of the game. Coaches forthis specialist course musthave at least the AFC C-Coaching Certificate and mustcontinue their work at thischosen field of football. Thebeneficial activity is designedto deliver theoretical and prac-tical modules in order toimprove the overall standardsof the game. The AsianFootball Confederation (AFC)Level 1 GoalkeepingCoaching Course will be

another landmark under pres-ent PFF set-up, the first of itskind to be organised by PFF incollaboration with the AFCand with the support of theFIFA.

"Goalkeepers are always theforgotten group and are onlyremembered after a goal isconceded. But still goalkeep-ers are one of the most impor-tant players on the field andthey are the last line of defenceand the first line of attack. Toplay the position well requiresspecial skills and training and Iam really happy and thrilledwith several keepers whoshowed guts and spectacularsaves in the recently conclud-ed Pakistan Premier Leagueand PFF League", saidPresident PFF Faisal SalehHayat here on Tuesday. Headded: "The goalkeeper is a

special player, greatly respon-sible for the morale of theteam, especially the defenders.If the defenders know that areliable keeper is behind them,then they can concentrate ontheir game. Otherwise, thecentral defenders and fullbacks will have a tough time,because they need to worryabout their keeper makingmistakes as well as dealingwith oncoming opponents."Nearly twenty participantshave to successfully completea six-day course to obtain thecoaching qualification. Theparticipants will attend theorylessons on different aspects ofcoaching goalkeepers as wellas gain practical coachingexperience by working onselected aspects of the goal-keeper's game during the prac-tical sessions.-APP

PFF goalkeepingtraining courseset for March

LAHORE: The career of formerPakistan cricket captain, ShoaibMalik appeared to meet a prema-ture end when he, along withspinner Danish Kaneria was axedfrom Pakistan's 30-member pre-liminary squad named here onTuesday for next

month's World Cup. It seemedthat both of them failed to satisfythe Pakistan Cricket Board'sintegrity committee, contrary towicketkeeper Kamran Akmalwho got the nod of selectors.PCB selection committeefinalised the list of probable play-ers for World Cup one day aheadof the extended deadline set bygame's Ruling Body, the ICC tosubmit the names. The squad hasveteran and reliable batsman,Muhammad Yousaf who hasbeen re-called after missing outPakistan's series against SouthAfrica in UAE owing to injuriesand fitness issues. The trio ofShoaib, Kamran and Kaneriawere facing an inquiry before theintegrity committee, reportedly

on their any hand in any match-fixing scams. "The names ofShoaib and Kaneria were notcleared by ICC therefore PCBfollowed their instructions anddid not include them in the list ofprobable players whereasKamran was cleared to resumehis international career ", saidsources in PCB while talking toAPP here. The integrity commit-tee took almost 20 days toannounce the probable playersafter holding different sessions inwhich all three tainted playerswere interrogated about theirproperty. "One thing was veryobvious that both of them couldnot satisfy the integrity commit-tee whose proceedings of the casewere conducted secretly," addedthe sources. However, no PCBofficial was ready to speak on thedecision about the exclusion ofthese players. Also missing fromthe list are opener Imran Farhatand all-rounder Fawad Alam. APCB statement said: "TheNational Selection Committee

met today at Gaddafi Stadiumand finalised for World Cup 2011after thorough deliberations.

The players are, OpeningBatsmen: Muhammad Hafeez,Ahmed Shahzad, Taufique

Umer, Nasir Jamshed. MiddleOrder Batsmen: MohammadYousuf,Younis Khan,Misbah ulHaq,Umar Akmal,AzharAli,Asad Shafiq, Naveed Yasin.Wicket Keepers: Kamran Akmal,Sarfraz Ahmed, Salman Ahmed.All-Rounders: Shahid Afridi,Abdul Razzaq, Yasir Arafat, RanaNaveed. Spin Bowlers: AbdulRehman, Saeed Ajmal, YasirShah, Zulfiqar Babar. FastBowlers: Shoaib Akhtar, UmarGul, Wahab Riaz, Sohail Tanveer,Tanvir Ahmed, Junaid Khan,Aizaz Cheema, Asad Ali.

However, commenting on theselection, Chairman NationalSelection Committee; MohsinKhan says he is satisfied with thepreliminary squad and urged theentire nation to back the decisionsmade by PCB.-APP

Shoaib,Kaneria not

on WC squad

Steyn, Tendulkarstar on intense day

Federer,Nadal toprevail:

McEnroeHONG KONG: Americantennis legend John McEnroesaid Tuesday that there wereno likely challengers whocould break Roger Federer andRafael Nadal's stranglehold onthe game's top tournaments."Federer and Nadal are two ofthe greatest players that haveever lived," McEnroe toldreporters ahead of the exhibi-tion Hong Kong TennisClassic. "I see excellent play-ers, bordering on great play-ers, but I don't see them break-ing and winning majors," headded. The Swiss; Federer andhis Spanish rival have beenengaged in one of sport'sgreatest and most enduringrivalries, dominating the gamefor years. Serbian world num-ber three Novak Djokovic andBritain's number four AndyMurray will have to "workharder than ever to competeagainst two of the most talent-ed players that ever playedtennis," McEnroe said."There's no reason to believethese guys [Federer andNadal] are not going to bearound for the next few years,"he added.

Djokovic lost to Nadal inlast year's US Open final,while Murray fell to

Federer in the AustralianOpen decider. Nadal stands atthe top of the ATP rankings,some 3,305 points ahead ofFederer, after a superb 2010season when he grabbed theworld number one spot as wellas winning the French Openand Wimbledon singles titles.The Spaniard goes into theNew Year having won ninemajor titles, trailing Federer'sall-time record of 16.McEnroe, a seven-time GrandSlam singles champion, wasspeaking ahead ofWednesday's start to the annu-al Hong Kong tournament,considered a lead-up to theGrand Slam Australian Openlater this month.-APP

InjuredMcKay

makes wayfor Tuffey

WELLINGTON: Kiwi fastbowler Daryl Tuffey has beenincluded in the squad for the two-match Test series againstPakistan, starting Friday. He takesthe place of Wellington fastbowler Andy McKay, who hasn'tfully recovered from a side strain.

Tuffey played the last of his 26Tests during the home seriesagainst Australia last March. Hehas played only four Tests in thelast six-and-a-half years but is amore regular member of NewZealand's one-day side. Tuffeyhad missed much of the one-dayseries against India last monthdue to a bicep strain.

New Zealand's fast bowlingdepartment has been hit hard byinjuries in recent times. HamishBennett, who impressed with hispace on Test debut against India inearly November, suffered a groinstrain in that match and hasn'tplayed high-level cricket since.McKay is back to bowling, butisn't fit enough for the sustainedspells required in Test matches.

The other fast bowlers in theNew Zealand Test squad, whichwas announced two weeks ago,are Chris Martin, Tim Southee,Brent Arnel.-Online

CAPE TOWN: Tendulkar plays a shot during the third day of their thirdcricket test match against South Africa.-Reuters

WHANGAREI: Sohail Tanvir took four wickets to polish off the tail, New ZealandCricket XI v Pakistanis, tour match, 2nd day.-Reuters

South Africa 362 and 52 for 2 lead India 364 by 50 runs

11Wednesday, January 5, 2011

International & Continuation

CONTINUATION

German coldspell spurs

surprise risein jobless

NUREMBERG: Germanunemployment rose unexpect-edly in December due to theearlier onset of winter buteconomists said the underlyingtrend in the labour market wasstill positive and would supportEurope's largest economy.

Freezing temperatures andsnow storms sent more con-struction workers to the unem-ployment line than usual, inter-rupting 17 straight months ofdeclining joblessness stretch-ing back to July 2009, theFederal Labour Office said onTuesday.

This triggered a rise in unem-ployment of 3,000 in Decemberover the previous month to aseasonally adjusted 3.15 mil-lion, leaving the unemploymentrate unchanged at 7.5 percent.

Although economists had onaverage expected joblessness todecline by 10,000 last month,they said the weather wouldonly temporarily interruptongoing robust job creation.

"December was unusuallycold and snowy and withoutthis bad weather unemploy-ment would certainly have fall-en again. The seasonal adjust-ment could not completelymake up for that," said RainerSartoris of HSBC Trinkaus.

"So there is no reason tobelieve the upswing in the jobmarket has come to an end. Onthe contrary, polls of industryand service companies point tosustained staff increases."

A corporate survey publishedon Monday showed Germanmanufacturers boosted theirworkforces in December at thefastest rate in at least 14 yearsto ease capacity bottlenecks.

An improvement in the jobmarket is a key element of econ-omists' forecasts for furtherbrisk expansion this year inGermany, as rising gross domes-tic wages fuel household con-sumption and boost tax revenue.

The ailing euro-zone econo-my may end up dependingmore than ever this year onGermany's growth engine asausterity measures fromIreland to Spain take their tollon output and further depressactivity.

Berlin even hopes to be ableto eventually offer a job toeveryone who wants to work.

"In light of strong economicactivity the labour market willcontinue to improve in the newyear (and) the foundation for asustainable growth has beenlaid. The goal of full employ-ment is again within reach,"said Economy Minister RainerBruederle.-Reuters

BRUSSELS: Euro zone infla-tion was higher than expectedin December, exceeding theEuropean Central Bank's tar-get for the first time in twoyears, but economists believethe bank will keep interestrates unchanged well into2011.

The European Union's statis-tics office Eurostat estimatedthat prices in the 16 countriesthat shared the euro currencyin December rose 2.2 percentyear-on-year, up from 1.9 per-cent in November.

It was highest year-on-yearrate since October 2008, whenit came in at 3.2 percent.Economists polled by Reutershad expected inflation of 2.0percent. The ECB wants tokeep price growth at justbelow 2 percent.

Eurostat does not provide amonthly figure or a detailedbreakdown with its estimate,which will come on Jan. 14.

But economists said the risein inflation was mainly due to

energy and food price rises.BNP Paribas economistClemente de Lucia, said thatbetween December andNovember oil prices rose byaround 7 euros per barrel, thestrongest monthly increase inmore than two years.

Year-on-year oil prices wereup by more than 18 euros,which probably boosted ener-gy prices by around 10 per-cent year-on-year, de Luciasaid.

"This commodity-price driv-en rise in inflation will onlyhave implications for ECBpolicy if the central bank wereto see second round effectsemerging, in terms of knock-on effects on other prices orrising inflation expectations,"said Nick Kounis, head ofmacroeconomic research atABN AMRO bank.

"That only seems likely if wewere to see a long period ofhigh inflation, but on the basisof current levels of commodityprices, we think that inflation

will ease back down again dur-ing the course of this year,"Kounis said.

In November it was moreexpensive energy, especiallyfuels for transport, heating oiland gas, that was the maindriver of inflation.

But economists said thatexcluding price-driving effectsof the tax hikes implementedin many countries, the infla-tion rate would have beensome tenths lower.

Further adjusted for volatileenergy prices, the underlyinginflation would be no morethan around 1 percent, theysaid.

"There is no need for mone-tary policy to act, with under-lying inflation still at 1 per-cent. We continue to expectthe ECB to start hiking ratesonly in 2012," said ChristophWeil, economist atCommerzbank.

But other economists saidthe ECB could raise the costsof borrowing earlier.-Reuters

Euro zone inflationrose above ECB

target in December

LONDON: Britain's factoryactivity grew at its fastest pacein 16 years at the end of 2010and mortgage approvals rose,data showed on Tuesday, buttax rises and public spendingcuts will provide stiff head-winds in 2011.

The Markit/CIPS manufac-turing Purchasing Managers'Index rose to 58.3 inDecember from November's57.0, well above expectationsand its best reading sinceSeptember 1994.

Separate figures from theBank of England showedmortgage approvals rose inNovember to their highestsince July, easing fears of fur-ther steep declines in houseprices.

The figures will be wel-comed by the governmentwhich is hoping the privatesector will be able to expand tofill some of the space left byits pruning of the state sector -- the biggest budget cutbacksin a generation.

However, some of the detailwas less encouraging.Consumer lending and moneysupply growth both weakenedin November, and the robustexpansion in the manufactur-ing sector was coupled with anunprecedented rise in firms'costs -- the latter a particularworry when inflation isalready well above target.

"It is vitally important thatthe UK economy is on as firma footing as possible as the fis-cal tightening really starts tobite from early-2011, begin-ning with the VAT hike," said

Howard Archer at IHS GlobalInsight.

"The only real blot on the(purchasing) survey was therecord rise in input prices."

The Conservative-led coali-tion government, which tookoffice last May, plans to cutthe budgets of most govern-ment departments by justunder a fifth over the next fouryears.

It is hoping its tough fiscalstance will be offset by loosemonetary policy. But therecent strength of inflation hasfanned debate about how longthe BoE can keep interest ratesat a record 0.5 percent withoutlosing credibility.

Inflation rose to a six-monthhigh of 3.3 percent inNovember and may rise above4 percent in the first fewmonths of this year, double theBoE's 2 target.

Adding to upward pricepressure will be the rise inVAT sales tax -- from 17.5 per-cent to 20 percent -- whichcame into force on Tuesday.

Finance minister GeorgeOsborne said increasing VATposed less of a risk to thebroader economy than increas-ing income tax or other payrolltaxes. However, calculationsfrom the government's ownfiscal watchdog show themeasure alone will shave 0.3percent off economic output in2011/2012.

"Clearly there will have beensome shuffling of consumerspending into December lastyear and away from the earlymonths of 2011 as consumers

tried to beat the hike," saidDavid Tinsley, UK economistat National Australia Bank.

Even if growth slowssharply, the BoE's ability torespond with further stimulusis limited. A Citi/Yougov sur-vey on Tuesday showedBritish public inflation expec-tations rose to 3.5 percent inDecember, its highest level inmore than two years.

Money markets, which asrecently as November werepricing in a 50:50 chance ofmore quantitative easing, haveswung to pricing in a UK raterise in the second half of 2011.

Tuesday's manufacturingsurvey will be followed byconstruction data onWednesday and a service sec-tor data on Thursday, both ofwhich will shape expectationsfor UK fourth-quarter GDPdata, due Jan. 25.

A recent Reuters poll showseconomists expect fourth-quarter growth to come in at0.5 percent, a respectable out-turn but weaker than the 0.6percent registered in the thirdquarter and the 1.2 percentregistered in the second.

Overall, they expected therecovery to slip down a gear atthe start of 2011, with growthforecast at just 0.3 percent foreach of the first two quarters.

"Broad money growth is stillheading in the wrong direc-tion. Bank lending remainsweak too, and we continue toexpect relatively tight creditconditions to act as a brake,"said Vicky Redwood at CapitalEconomics.-Reuters

UK economy databoosts start of

tough 2011WASHINGTON: New ordersreceived by U.S. factoriesunexpectedly rose inNovember, and orders exclud-ing transportation recordedtheir largest gain in eightmonths, providing more signsthe economic recovery was onsustainable path.

The Commerce Departmentsaid on Tuesday orders formanufactured goods increased0.7 percent after dropping arevised 0.7 percent in October.

Economists polled byReuters had forecast factoryorders slipping 0.1 percent inNovember from a previouslyreported 0.9 percent decline inOctober. Orders have risen infour of the last five months.

Manufacturing has been thestar performer during therecovery from the worst reces-sion since the 1930s and con-tinues to expand. Factoriesappear to be ramping up activ-ity to meet a pickup in demand

from consumers and business-es.

Analysts have forecast eco-nomic growth at an annualpace of between 3 percent and3.5 percent in the fourth quar-ter after a 2.6 percent expan-sion in the third quarter.

U.S. financial markets hadlittle reaction to the data. U.S.stocks were little changed asoptimism over the economicoutlook was offset by a declinein consumer stocks.

U.S. Treasury debt pricesedged higher The euro climbedto a three-week high againstthe dollar.

On Monday the Institute forSupply Management said itsindex of national factory activ-ity climbed to a seven-monthhigh in December, hoisted bysturdy gains in new orders andproduction.

The Commerce Departmentreport showed orders exclud-ing transportation increased

2.4 percent in November, thehighest since March, after a 0.1percent gain the prior month.

Unfilled orders at U.S. facto-ries increased 0.6 percent inNovember after rising 0.7 per-cent the prior month.Shipments increased 0.8 per-cent, rising for a third consecu-tive month, while inventoriesgained 0.8 percent after rising1.1 percent in October.

The department reviseddurable goods orders forNovember to show a muchsmaller 0.3 percent fall ratherthan the previously reported1.3 drop. Excluding transporta-tion, orders for durable goodsincreased a bigger 3.6 percentin November instead of 2.4percent.

Orders for non-defense capi-tal goods excluding aircraft,seen as a measure of businessconfidence, increased 2.6 per-cent after 3.2 percent decline inOctober.-Reuters

US factory ordersrebound, brighten

growth view

My thoughts also go to innumerable Party workers who paidwith their lives and liberty and endured torture and to keep thename of Bhutto and Bhuttoism alive. The Party will observe thisbirth anniversary with due solemnity in view of the tragic assassi-nation of Governor Salman Taseer. The Party will observe a fif-teen day mourning period.-NNI

Continued from page 12No #1

Due to increase in petroleum prices, increased General SalesTax, other taxes would also be imposed on citizens, which wouldbe contrary to Article 77 of Constitution, because without imposi-tion of GST, other taxes on increased prices, oil companies cannotsell petroleum products as same this is illegal and violation ofConstitution. He prayed to order respondents to table in Parliamentformula for increasing/ decreasing in petroleum products prices. Itwas urged to declare hike in POL products prices unjust, illegaland violation of Article 77 read with articles 4, 5, 9, 14, 18 and 25of Constitution. He also requested formula made by Ogra orapproval of summary by government about increase in petroleumproducts be declared against mandate of people. -Agencies

Continued from page 12No #2

was their own decision, he underlined.Chaudhry Pervez Elahi said PML-N should bring no trust move

against the prime minister, as 68 legislators were required to pilotno confidence movement while PML-Q had only 50 members.PML-N should table no trust move first and then PML-Q woulddecide to support it, he maintained. PML-N describes federal gov-ernment corrupt then as to why it does not separate PPP fromPunjab cabinet, he questioned. -Online

Continued from page 12No #3

broadcast live on state television. The "previous path (of con-fronting Tehran) will have no result but defeat," the president said,adding that the West must respect the rights of other countries.Ahmadinejad and other Iranian officials have maintained that pur-suing nuclear technology is the Islamic republic's "inalienableright." The United States has also not ruled out a military strike tostop Iran's growing nuclear programme under Ahmadinejad, andTehran has been slapped with four sets of UN sanctions. -Reuters

Continued from page 12No #4

He said due to wrong policies of government, industrial sectoris facing survival problem and many industries already closeddown and volume of non-performing loans gone up to Rs500 bil-lion. -Agencies

Continued from page 12No #5

regarding maintaining any fool-proof security for the governmen-tal officials. The murder of Salman Taseer on Tuesday afternoon

Continued from page 1No #6

country. According to a statement issued from the Abu DhabiSecretariat, former President Pervez Musharraf was of the viewthat it is the loss for the whole country. He was a seasoned politi-cian and always worked for betterment of the country, he added.

Musharraf further said that it seemed that the current govern-ment has failed to cope with terrorism from the country. He alsoexpressed grief and sorrow with the family of Salman Taseer.

Continued from page 1No #7

degree in Chartered Accountancy from London. He was the sonof Muhammad Din Taseer, popularly known as MD Taseer, whowas the first PhD degree holder in the sub-continent. Taseer start-ed his political career as a student, and became member of PakistanPeoples Party (PPP) soon after the party was founded by ZulfiqarAli Bhutto on November 30, 1967. Salman remained as PPPInformation Secretary and won the MPA seat in Punjab on PakistanPeoples Party ticket in 1988 and remained as Deputy OppositionLeader in the Punjab Assembly. Taseer also served as a minister forcommerce and industry in the caretaker cabinet of former PrimeMinister Muhammad Mian Soomro in 2007-08.-Agencies

Continued from page 1No #8

Pakistan." "I am deeply saddened by the assassination ofGovernor Taseer. On behalf of the United States, I offer my con-dolences to his wife and children," Munter added. -APP

Continued from page 1No #9

He said that the Governor had described the blasphemy law as'Black Law' due to which he killed the governor and he has noremorse or guilt as he has killed a 'blasphemer'.

The guards told Mumtaz Qadri was not a permanent elite guardof the Governor and he had recently been inducted in the squad andbelonged to Rawalpindi. The guards said that whenever Governorused to come to Islamabad he used to change some members of thesecurity guard. They said that they can't believe Mumtaz Qadri wascapable of such an act as he was a religious person. The Elite Force

Continued from page 1No #10

industry.It was also decided in the meeting that the import of 0.225 million tonnes of urea would be fast-

tracked to ensure availability of urea in the market at reasonable price. The price of urea in the inter-national market was $ 376 FOB that translated into around Rs2012 per 50 kg bag. The offtake ofurea during the last two months has been more than normal which gave a signal of hoarding. TheProvincial governments were directed to take appropriate legal action against hoarders. -Agencies

Continued from page 1No #11

year, Rs305 billion is due to government borrowing from the SBP, which has been on an increas-ing trend since September 2010. Such borrowing has stoked expectations of increasing inflation.

Furthermore, higher Net Domestic Assets (NDA) to Net Foreign Assets (NFA) ratio and its strongassociation with CPI inflation also suggest that the inflation is likely to persist at double digit levelsduring FY11 i.e. full year CPI expectation of 15.5 per cent. Furthermore, delay in implementationof RGST and uncertainty in timing of foreign inflows may force SBP to increase discount rate by50bps to 14.5 per cent.

Continued from page 1No #12

security situation in the region. Sources added that during his stay Pakistani leadership would again com-ment on unremitting drone attacks in the country, war against terrorism, needs of Pakistan besides politi-cal turmoil that has heated up the country in frosty conditions in Pakistan since last few days. -Agencies

Continued from page 1No #13

Sarwar Korai, Justice Aqeel Ahmed Abbasi, Justice Irfan Sadat Khan, Justice Tufail H Ibrahim andJustice Muneeb Akhtar. According to notification all judges would be working to till September 25,2011, however decision regarding Justice Ahmad Sheikh's extension would be taken in next meet-ing of SJC. -Agencies

Continued from page 1No #14

Government will have to implement the short agenda within 45 days till 20th February and showprogress not to PML-N but to the people of Pakistan. PML-N Quaid said if Government fail toaccept the agenda or implement it, the PML-N would talk with other opposition parties if they canimplement this agenda. He said the PML-N will support them for the implementation of the agen-da. He said if the Government agreed to their demand, a committee of PML-N would be formed inthe next few days to assist the Government.

Replying to questions, Mian Nawaz Sharif ruled out the possibility of PML-N taking over the gov-ernment. He said either the agenda be implemented by the PPP Government or other opposition par-ties and if they fail to do so, the only option is to go to the masses for a fresh mandate.

About JUI-F and MQM parting ways with the Government, Mian Nawaz Sharif said they are nowdemanding to sit on the opposition benches which the PML-N is doing for the last two and a halfyears. He said their view point is not clear as one party is demanding resignation of the PrimeMinister and has no objection on the way of working of the President and the governance of PPP.

The other party has no plan to dislodge the government. They want to sit on opposition benchesto oppose some policies and support others. -Agencies

Continued from page 1No #15

exporters' shares in the long run.Trading volume picked up from year-end lows, with a total of 1.6 billion shares changing hands

on the Tokyo Stock Exchange's first section, above its previous week's average of 1.28 billionshares.-Reuters

Continued from page 5No #16

Meanwhile China's factory inflation cooled in December, while manufacturing in Europe acceler-ated. Buyers came in for the banks, as worries over euro zone sovereign debt faded further into thebackground, with Barclays adding 4.2 per cent and Royal Bank of Scotland up 4.1 per cent.

An Exane BNP Paribas upgrade to "outperform" also helped RBS, with the broker saying a sharpsell-off on the bank's exposure to debt-hit Ireland presents a buying opportunity.

Among individual blue-chip gainers, Carnival Corp took on 3.8 per cent after being upgraded to"buy" from "hold" by Deutsche Bank with an increased target of 3,700 pence.

The main losers were stocks seen as defensive. Food producer AB Foods was down 1.4 per cent,while utility International Power slipped 1.5 per cent.-Reuters

Continued from page 5No #17

has once again created worries among security and even Army per-sonnel as to how to ensure a secure protocol for governmental offi-cials. Sources informed that officials are mulling and wonderingbesides investigating as to how the security guard responsible forassassination of Governor, ever made it to the elite police circles,and also as to how was he appointed over close security ofGovernor, while ignoring SOP (standard operative procedures).Sources have also informed that before appointing elite guards forVIP personnel, they have to undergo a massive check system,which also included complete scrutiny of their background. Afterthis assassination, the security and Army personnel have decided toreview the security procedures anew, for which a formal approvalwould be taken in a high level meeting to be held soon. -Online

is used in a range of special operations including "high-risk searches, raids and rescue operations."President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani has strongly condemned theassassination of Governor Punjab Salman Taseer on Tuesday afternoon and directed the InteriorMinister Rahman Malik to personally supervise the investigations and report to him urgently. ThePresident was informed about the tragic assassination during a meeting with the Members of theProvincial Assembly of the PPP belonging to Sukkur, Jacobabad, Shikarpur and Gotki in the BilawalHouse. Describing the crime as 'most ghastly' the President said that no words were strong enough tocondemn it. The perpetrators of this heinous crime must be punished, he said adding also, "they willbe punished." Paying tributes the President said that Salman Taseer was endowed with great courageand energy employed these qualities in the service of the province and the country. He faced the vicis-situdes of life with composure, resilience and courage, the President said. The President also prayed toAllah to rest the departed soul in peace and give courage to members of the bereaved family to bearthe loss with fortitude. Prime Minister Gilani said in a statement he "strongly condemned" the incident.The Pakistan People's Party said it would observe two weeks of mourning over Taseer's death A wit-ness at the scene said Taseer was stepping out of his car at a shopping area when he was shot."The gov-ernor fell down and the man who fired at him threw down his gun and raised both hands," said the wit-ness, Ali Imran. Meanwhile, Prime Minister Gilani announced three-day mourning, while national flagwill remain at half-mast in the wake of assassination of Governor Punjab Salman Taseer.

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ISLAMABAD: PPP Co-Chairman and President AsifAli Zardari said that the chal-lenges of coalition politics willbe handled with a sense ofmaturity through dialogue andnegotiations.

While paying tribute ShaheedZulfikar Ali Bhutto on his 83birth anniversary, PresidentZardari said "Shaheed ZulfikarAli Bhutto has taught us how toresolve complex political issuesthrough dialogue" he said in amessage on the 83rd birthanniversary of ShaheedZulfikar Ali Bhutto Wednesday

adding, "through dialogue wewill also find a solution to thepolitical challenges faced bythe coalition."

It was through dialogue thatShaheed Bhutto recovered theterritory lost in the 1971 war,brought back ninety thousandprisoners of war and preventedthe war trials of our militaryofficers to protect the name andhonor of the country, he said.

"Inspired by our great lead-ers we also employed dialoguefor chasing a dictator out fromthe Presidency. Through dia-logue and consensus the unde-

mocratic Articles introducedinto the 1973 Constitution havebeen removed and the demo-cratic Constitution restored" hesaid.

The Quaid-e-Awam ShaheedZulfikar Ali Bhutto respondedto the political challenges of histime by awakening the peopleand giving them voice whichno dictatorship has been able tostifle.

Using the tools of dialoguewe will face all political chal-lenges in a way that will furtherstrengthen democracy anddemocratic institutions, the

President said in his message.On this birthday of our

Shaheed Chairman our headsbow in gratitude that we haverestored in a large measure theoriginal Constitution given tothe nation under his leadershipin 1973, President Zardari said.

On this occasion I urge thevaliant Party workers to rededi-cate themselves to the ideals ofBhutto and loudly proclaim tothe world that Bhutto still lives inthe hearts and minds of the peo-ple and, from his grave, hauntsthe enemies of democracy.

See # 1 Page 11

Zardari rolls up sleevesto end political conflicts

Challenges to be handled thru dialogue, negotiation: President

KARACHI: Sindh High CourtTuesday put on notice secre-taries of Law, Justice &Parliamentary Affairs andFinance Ministries & ChairmanOgra on petition challengingrecent 9 per cent hike in pricesof petroleum products.

A division bench, comprisingChief Justice Sarmad JalalOsmany & Justice MunibAkhtar also issued notice toDeputy Attorney General tofile comments on behalf ofrespondents till January 18,2011.

Petitioner Advocate MaulviIqbal Haider impleadedSecretary Law, Justice &Parliamentary Affairs Ministry,Secretary Finance Ministry &Chairman Ogra as respondents.

He submitted 9 per centincrease in prices of petroleumproducts by Ogra through noti-fication on December 31, 2010was unjust and unfair.

He stated anti-people policiesof government made lives ofcitizens miserable & govern-ment was looting public bylevying taxes & hiking petrole-um products prices without jus-tified criteria.

He contended throughimpugned notification, petrolprice increased by Rs 6.71 perlitre from Rs72.96 to Rs79.67(9.2 percent), HOBC price byRs7.69 from Rs86.67 toRs94.36, Kerosene oil price byRs4.4 per litre from Rs70.95 toRs74.99 (5.7 per cent) & HighSpeed Diesel price by Rs4.25per litre from Rs78.33 toRs82.58.

Resultantly, inflated priceswill push up inflation &impact on industrial produc-tion, which was already underpressure because of higherelectricity, gas rates & energyshortfalls.

See # 2 Page 11

Respondentsput on notice

Petition filed in SHC against POL price hike

BHERA: Prime MinisterSyed Yousuf Raza Gilanihas reiterated that govern-ment is not facing anythreats and rather will com-plete its constitutionalterm.

He was talking to mediaat Bhera Services Areawhile commuting betweenLahore and Islamabad viamotorway on Tuesday.

During the course of hisconversation, he said thatPPP is a national party andit will complete its term.Time demands from allpolitical parties whobelieve in democracy tocollectively solve the

crises.PM also said country is

facing terrorism threats otherthan inflation and unemploy-ment that we received ininheritance. He said financeministry is briefing leadersof all parliamentary partiesrelated to recent increase inpetrol prices. He said terror-ism and floods are amongthe other contributors toinflation, which we are try-ing to cope with.

While responding to aquestion, PM said Ch.Shujaat Hussain hasensured him to supportgovernment for the eradica-tion of inflation and to

improve law and order situ-ation.

He further said we aretrying to remove all reser-vations of JUI-F and MQMand added that Fazl-ur-Rehman left coalitionbecause of dismissingAzam Swati whereas MQMholds reservations withHome Minister SindhZulfiqar Ali Mirza.

It has also been learnt thatduring his stay in Bhera,member of PML-N's centralcommittee Barrister PirFarooq Bahadur-ul-HaqShah met PM Gilani andextended a special mes-sage.-Agencies

Gilani sees nothreat to govt

ISLAMABAD: PML-QPresident Chaudhry ShujaatHussain has said PML-N willnot table no-confidence move-ment against federal govern-ment to save its government inPunjab.

Shujaat said this whileaddressing a press conferencealong with Chaudhry PervezElahi and others after PML-Qparliamentary party meetinghere Tuesday.

"I want to make it clear weare in opposition and will con-tinue to play the role of opposi-tion", he remarked.

Shujaat told Gilani had cometo us a day before and we dis-

cussed at length the problemsfacing the common man. It wasmade clear on the prime minis-ter PML-Q had no personal dif-ference with him but his partywas concerned with the poorperformance of the govern-ment, he added. Governmentshould address all the problemsincluding unemployment andinflation and then talk to PML-Q.

He told a delegation of PML-Q led by Faisal Saleh Hayatwould meet prime minister.

MQM did not take decisionto join opposition benches inconsultation with PML-Q but it

See # 3 Page 11

‘Q’ says ‘N’ won’tmove against PM

KARACHI: Trade Development Authorityof Pakistan TDAP is awaiting Rs7 billionfunds from Export Development SurchargeEDS by Ministry of Finance to carry out itsexport-oriented plans and release subsidiesto exporters, said Chief Executive, TDAP,Tariq Iqbal Puri.

Addressing luncheon meeting Tuesday atKorangi Association of Trade & IndustryKATI, he said Pakistan would cross $20billion export target this fiscal year.

He said TDAP is planning to take part in80 international exhibitions abroad ofwhich 25 will be in China, which hasoffered free stalls in some of these.

China would be focus country for TDAPduring 2011 as its market is much lucrativethan other countries. Pakistan's home tex-tile and other items have big potential ofexport.

He said it was being considered to splitExpo Pakistan exhibition into 5 to 7 sec-toral exhibitions this year and proposals

are being invited from trade bodies."We plan to carry out assistance and

funding plan to non-traditional items' man-ufacturers with USAID financial assis-tance." He assured KATI's proposed trade,export delegation abroad will be spon-sored by TDAP.

Patron In-chief, KATI, S M Muneerasked TDAP to release millions of rupeesof exporters stuck up with TDAP againstsubsidies and reconstitute its board ofdirectors with inclusion of prominent fig-ures from private sector.

He said government has no sense ofdirection and running economy by increas-ing POL, utilities prices, increasing markup rates.

Chairman, KATI, Syed Johar AliQandhari asked TDAP to declare year2011 as "Export Year" and devise a com-prehensive plan with trade bodies toboost exports.

See # 5 Page 11

TDAP awaitsRs7bn funds

TEHRAN: Iran is to open itsatomic sites to some worldpowers, officials announced onTuesday, as PresidentMahmoud Ahmadinejad insist-ed the West was wrong to con-front Tehran over its nuclearprogramme.

Invitations to visit Iran'snuclear sites in central cities ofNatanz and Arak have beensent out to ambassadors ofsome of the nations representedin the UN atomic watchdog,foreign ministry spokesmanRamin Mehmanparast said.

The rare move comes asTehran works to garner supportfor its atomic drive in the run-up to talks with six world pow-ers in Turkey at the end ofJanuary.

"The representatives of someEuropean Union countries,NAM (Non-AlignedMovement) and some represen-tatives of the five-plus-one (sixworld powers) have been invit-ed to visit our nuclear sites,"Mehmanparast told a news con-ference.

But diplomatic sources at the

International Atomic EnergyAgency (IAEA) in Vienna saidinvitations have gone only toRussia and China, while theUnited States, Britain, Franceand Germany were not amongthe invited world powers.

The invitees also includedHungary as rotating presidentof the European Union, Egyptand Cuba, they said.

Mehmanparast said the invi-tation was part of the Islamicrepublic's attempt to demon-strate "cooperation with theIAEA" and showed "the good-will of our country and thepeaceful and cooperative natureof our (nuclear) activities."

ISNA news agency citedIran's envoy to the IAEA, AliAsgar Soltanieh, as saying thevisit was scheduled for January15-16 and would be to thecountry's main uranium enrich-ment plant at Natanz and theheavy water facility at Arak.

"This invitation is within theframework of Iran's transparentnuclear policy," Soltanieh said.

Such visits to Iran's atomicfacilities are rare and the last

trip which Tehran arranged formembers of the IAEA, the UNnuclear watchdog, dates backto February 2007.

The proposed new visit tonuclear facilities,Mehmanparast said, "will takeplace before the Istanbul meet-ing," for which a final date hasyet to be fixed.

China, a close ally and eco-nomic partner of Iran, con-firmed it was among thoseinvited to visit the atomic sites.

"China has received the invi-tation from the Iran side andwill maintain communicationwith Iran on this," Chinese for-eign ministry spokesman HongLei said, without giving details.

Ahmadinejad was adamanton Tuesday that the West hadmade a mistake by confrontingIran over its atomic pro-gramme.

"You should accept that youhave made mistakes. Youshould accept that you chosethe wrong path," the hardlinersaid in a speech in his home-town of Semnan that was

See # 4 Page 11

Iran opens N-sitesto world powers

ISLAMABAD: Former Prime Minister and Quaid PML (N) Mian Nawaz Sharif addresses a press conference at Punjab House.-Online

Holbrooke's last rites

Presidentleaves forUS on 12th

ISLAMABAD: PresidentAsif Ali Zardari will visit theUnited States next week onJanuary 12.

Diplomatic sources con-firmed that President Zardariis scheduled to attend thememorial of RichardHolbrooke, who was the USspecial representative toAfghanistan and Pakistanuntil his sudden death lastmonth.

During his visit he wouldmeet US Secretary of StateHillary Clinton, sources say.

"The president will visit theUS from January 12. Thisvisit is primarily for thememorial service of RichardHolbrooke but the presidentwill also have meetings withUS officials," said foreignministry spokesman AbdulBasit. -Online

MQM movesSindh Houseagainst POLprice hike

KARACHI: MuttahidaQaumi Movement (MQM) hastabled adjournment motionagainst inflation and hike inpetroleum prices, in SindhAssembly here on Tuesday.

As per details, three MQMmembers of provincialassembly tabled adjourn-ment motion in assemblysecretariat, against inflationand hike in petroleum prices.

There is possibility that theadjournment motion wouldbe discussed and MQMwould walkout from SindhAssembly's meeting going tobe held on 7th January. -Agencies

Says ‘Q’ assures support to government

Cotecna Reference

Former FBR

head indictedRAWALPINDI: SyedNajmul Hassan Bokhari ofAccountability CourtRawalpindi has indicted for-mer chairman CBR (current-ly FBR) AR Siddiqui, who isdesignated as co-accusedwith President Asif AliZardari in CotecnaReference.

AR Siddiqui appeared inthe court along with hiscounsel Tuesday.

Additional ProsecutorGeneral Akbar Tararappeared on behalf of prose-cution while special publicprosecutor Arif Ali Chauhanrepresented NAB in thecourt. AR Siddiqui hasrefused to admit the allega-tions leveled against him inthe reference. The court hasissued summons of prosecu-tion witnesses directing themto appear on the next hearing.

Counsels for NAB havebeen directed to ensure pres-ence of the witnesses so thattheir statements could berecorded. As many as 7 for-eign directors are alsoaccused in this case. -Online