International

ADB sees climate migration on rise See on Page 12

Khi twin blasts ring alarm bell See on Page 12

Egypt workers get 15pc raise See on Page 12

*Crude Oil (brent)$/bbl 100.30

*Crude Oil (WTI)$/bbl 88.84

*Cotton $/lb 172.26

*Gold $/ozs 1,350.60

*Silver $/ozs 29.21

Malaysian Palm $ 1,271

GOLD (NCEL) PKR 37,185

KHI Cotton 40Kg PKR 12,325

Yearly(Jul, 2010 up to 4-Feb-2011)

Monthly(Feb, 2010 up to-4-Feb-2011)

Daily (4-Feb-2011)

Total Portfolio Invest (28 Jan-2011)

201.76

1.01

1.96

3091

-0.07

-0.52

1.42

-0.37

-0.32

-0.40

0.26

SCRA(U.S $ in million)

Portfolio Investment

FIPI (7-Feb-2011)

Local Companies (7-Feb-2011)

Banks / DFI (7-Feb-2011)

Mutual Funds (7-Feb-2011)

NBFC (7-Feb-2011)

Local Investors (7-Feb-2011)

Other Organization (7-Feb-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (29-Jan-11)

Inflation CPI% (Jul 10-Dec 10)

Exports (Jul 10-Dec 10)

Imports (Jul 10-Dec 10)

Trade Balance (Jul 10-Dec 10)

Current A/C (Jul 10- Dec 10)

Remittances (Jul 10 - Dec 10)

Foreign Invest (Jul 10-Dec 10)

Revenue (Jul 10 Dec 10)

Foreign Debt (Sep 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Nov 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.38bn

14.61%

$10.98bn

$19.13bn

$(8.15)bn

$26mn

$5.29bn

$1.05bn

Rs 638bn

$58.41bn

Rs 5497.4bn

$323.6mn

-4.69%

4.10%

$1,051

175.10mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

18.49

2.00

1.70

11.46

PKR/Shares

111.06

157.96

42.71

36.31

39.16

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

26-Jan-2011

26-Jan-2011

26-Jan-2011

29-Nov-2010

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

07-Feb-2011

13.67%

13.71%

13.88%

14.00%

13.18%

13.63%

13.76%

14.13%

14.26%

14.22%

14.25%

14.27%

14.59%

14.78%

14.96%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 86.20 87.20

Canadian $ 86.20 87.20

Danish Krone 14.00 14.70

Euro 116.00 117.30

Hong Kong $ 11.00 11.10

Japanese Yen 1.026 1.051

Saudi Riyal 22.75 22.95

Singapore $ 66.70 67.70

Swedish Korona 12.00 12.10

Swiss Franc 85.50 86.10

U.A.E Dirham 23.25 23.50

UK Pound 137.50 139.00

US $ 85.65 86.00

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.56 86.76

Canadian $ 86.56 86.76

Danish Krone 15.60 15.63

Euro 116.27 116.54

Hong Kong $ 10.97 11.00

Japanese Yen 1.039 1.041

Saudi Riyal 22.77 22.83

Singapore $ 66.99 67.15

Swedish Korona 13.22 13.25

Swiss Franc 89.56 89.77

U.A.E Dirham 23.25 23.31

UK Pound 137.78 138.11

US $ 85.43 85.61

Inter-Bank Currency Rates

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Karachi, Tuesday, February 8, 2011, Rabi-ul-Awwal 4, Price Rs12 Pages 12

See on Page 2

President to visit Japan

to boost trade & ties

GOLARCHI: Prime Minister Syed Yusuf Raza Gilani waves to people during inaugurationceremony of 132 KV Golarchi Grid Station at Golarchi District Badin. APP

ISLAMABAD: SupremeCourt of Pakistan Monday dis-agreed with the counsel forState Bank of Pakistan (SBP)that a commission be formed tolook into the details of written-off bank loans amounting toRs256 billion during the periodfrom 1971 to 2009.

The court instead asked theSBP counsel to submit detailsof the loans waived off duringthe last two years.

The four-member benchcomprising Chief JusticeIftikhar Muhammad Chaudhry,Justice Muhammad Sair Ali,Justice Ghulam Rabbani andJustice Khalil-ur-RehmanRamday resumed hearing of asuo motu notice related to

waiving off Rs256 billion bankloans from 1971 to 2009.

Syed Iqbal Haider, counselfor the SBP, apprised the benchthat about 50000 people hadgot their loans waived off dur-ing the said period.

He said that the prime func-tion of SBP was that of a regu-latory authority and not of asupervisory one.

He said the private bankswere regulated through theirboards of directors.

He was of the view that goingthrough the details of writtenoff loans during last manyyears would be a huge task anda commission should be formedto deal with the issue.

See # 18 Page 11

SC scolds SBPfor waiving loan

Rejects formation of commission by SBP

Ahmed Siddique

KARACHI: Total oil refineryproduction in Pakistan declined9 per cent YoY at 4.3 milliontonnes in 7MFY11, mainly ledby circular debt and few refin-ery shutdowns amid mainte-nance and operational issues.

In contrast, benefiting fromimproved refining margins,domestic refineries improvedtheir capacity utilisation to 73per cent in January, 2011 ascompared to 69 per cent inJanuary 2010 which led toincrease in production to 714k,up 5 per cent YoY.

With circular debt still grow-

ing, the only hope for therefineries to sustain their busi-ness operation is better GRMswhich have remained volatiledue to fluctuations in interna-tional crude oil markets, as perthe research analyst of ToplineSecurities.

He said, in long-term fate ofdeemed duty would be the chieffactor that will determinerefineries' production.

Company-wise productiondetails show that AttockRefinery (ATRL) and NationalRefinery Limited (NRL) werethe only two refineries thatdepicted improvement in their

See # 14 Page 11

Refiners 7-mnthoutput falls 9pc

BADIN: Prime Minister SyedYousuf Raza Gilani said thatthe implementation of TharCoal Project by Sindh govern-ment will usher in an era ofprosperity in the province.

Addressing a public gather-ing in inaugurating ceremonyof grid station in Gularchi,Prime Minister said we haveaccomplished the Shaheedleader's commitment to giveautonomy to the provinces.

PM Gilani said they hadaddressed deprivations of thepoor in a short period of time.

He said due to the successful See # 12 Page 11

Gilani sees shinyfuture in Thar coal

Confrontation would be disastrous: Gilani

PM approves reconstitution of power cos BoDs

Staff ReporterKARACHI: ChairmanSecurities & ExchangeCommission of Pakistan(SECP) assured the members ofKarachi Stock Exchange thatthe much-awaited leverageproduct would be available atthe exchange by the end of thismonth.

Chairman SECP MohammadAli visited the stock exchangeMonday and met the generalbody of the exchange, whereabout 80-100 members were

See # 20 Page 11

SECP head vowsMTS before Mar

KSE BoD elects Muneer Kamal as Chairman

Available Now

ISLAMABAD: USAmbassador to PakistanCameron Munter had a meetingwith President Asif Ali Zardarihere on Monday andexchanged views for the releaseof American national RaymondDavis who is in custody for themurder of two Pakistani nation-als in Lahore and other issuesin the context of Pakistan-USrelations.

Sources said the USAmbassador delivered a mes-sage of American leaders to thePresident which called for giv-ing diplomatic immunity toRaymond Davis and his imme-diate release.

The President told theAmerican Ambassador aboutthe situation arising out of thesuicide by the widow of Fahimwho was shot dead by Davis.

He said there was greatresentment among the peopleof Pakistan over the act of theAmerican national and the sui-cide by the widow of Fahim hasfurther complicated the situa-tion.

He said in this atmosphere itis in the interest of both thecountries to show patience. Hesaid the matter is in the courtand they will have to wait forthe verdict.

The sources further said thatthe incident should not damagethe friendly and cooperativerelations between the twocountries.

During the meeting mattersrelating to Pak-US relations,war on terror and situation inthe region also came under dis-cussion.

Earlier, the Minister for Lawand Justice Babar Awan met thePresident and briefed himabout legal aspects ofRaymond Davis case.

The Law Minister informedthe President in detail aboutlegal matters involving thecase.

He also told the President thatthere was lot of resentmentamong the people particularlyin the aftermath of the suicideof the widow of Fahim, whowas killed by Raymond Davis.

Meanwhile, Supreme Courtof Pakistan was movedMonday to immediately takecustody of US nationalRaymond Davis arrested fordouble murder in Lahore and toensure a fair trial instantlytransfer his case to a HighCourt outside Punjab.

A stay application asked theapex court to instruct Punjab tostop the criminal proceedingsand direct the Registrar ofLahore High Court to submitthe record of the murder caseincluding any proceedings inthe High Court.

A petition seeking enforce-ment of the Fundamental Rightto "a fair trial" informed theCourt that the accused personwas not entitled to "equal pro-tection of law" under Article 25and he could not invoke thejurisdiction of a High Courteither to seek "equal protectionof law" or "equality before law"in its true Constitutional sense.

Petitioner Shahid Orakzaisaid the person was being

See # 9 Page 11

US twists Pakarm over Davis

USAID gives$20mn for

Gomal DamLAHORE: The United StatesAgency for InternationalDevelopment (USAID) hasreleased the first trancheamounting to $20 million to thePakistan Water and PowerDevelopment Authority(WAPDA) for Gomal Zam DamProject.

The USAID had signed anagreement with Wapda lastmonth for providing $40 millionto help complete under-con-struction Gomal Zam DamProject.

Had this financial assistance See # 10 Page 11

Talks, onlyway out: FO

ISLAMABAD: Foreign Officespokesman, Abdul Basit saidon Monday that dialogue is theonly solution of all issuesbetween Pakistan and India.

He termed the meeting ofForeign Secretaries of the twocountries in Bhutan was fruitfuland both the countries haverealised that dialogue is theonly way to settle all issues.

"Two nations have pledged in See # 17 Page 11

BB Case

Musharrafdeclared

absconderRAWALPINDI: Former presi-dent Pervez Musharraf hasbeen declared as an absconderin Benazir Bhutto murder case.

According to a private TV,public Prosecutor Chaudhry

Zulifqar said during the hearingthat Musharraf would bedeclared as 'wanted' in the case,if he avoids as the part of theinvestigation.

Zulifqar said both police offi-cials, former CPO Saud Azizand SP Khurram Shehzad, werein contacts with former presi-dent, adding both were follow-ing the orders of Musharraf.

A report of Benazir Bhutto'sBlackBerry mobile set was also

See # 13 Page 11

Sabic will also supply 60,000 MT urea

TCP awards urea tenderKARACHI: Trading Corporation of Pakistan (TCP) has award-ed a contract to the lowest bidder Gavilon Fertilizer for supply of100,000 metric tonne of urea at $408.68 per metric tonne C & F.

According to TCP here Monday, the company was found thelowest and conforming to all technical specifications and ten-der's terms and conditions.

Seven bidders participated in the tender and quoted pricesranging between $408.68 PMT to See # 16 Page 11

PM to include20 ministers

in new cabinet ISLAMABAD: During firstphase of rightsizing of federalcabinet, twenty ministers areexpected to be included asdecided by President Asif AliZardari and Prime MinisterYousaf Raza Gilani after

See # 11 Page 11

Pak, Indiaforeign secys

lay new basis

for dialoguesNEW DELHI: India andPakistan have agreed to "carryforward" talks aimed at resum-ing the full-fledged peace dia-logue between the countriesthat was suspended in the wakeof the 2008 Mumbai attacks.

Indian Foreign SecretaryNirupama Rao and herPakistani counterpart SalmanBashir held talks late Sunday inthe Bhutanese capital Thimphu-- the first high-level meetingbetween the nuclear-armedneighbours since July.

"They agreed on the need fora constructive dialoguebetween India and Pakistan toresolve all outstanding issues,"according to a joint statement

See # 15 Page 11

Munter meets Zardari

SC moved for fair trial of US citizen

Lawai likelyto chair CDC

Nawaz AliKARACHI: The Board ofDirectors (BoD) of KarachiStock Exchange in its inaugu-ral meeting on Monday hasproposed the name of HussainLawai as the new ChairmanCentral Depository Company(CDC), some reliable sourcestold TFD.

See # 19 Page 11

2 Tuesday, February 8, 2011

ISLAMABAD: JapaneseAmbassador in PakistanChihiro Atsumi Mondaycalled on President AsifAli Zardari at the Aiwan-e-Sadr and discussedPresident's upcomingvisit to Japan.

Matters relating to Pak-Japan bilateral relations,mutual cooperation invarious areas with partic-ular focus on the promo-tion of trade and invest-ment ties between thetwo countries also cameunder review.

The President saidthat Pakistan highlyvalues its friendly rela-tions with Japan andregards it as vital friendand development part-ner. The Presidentappreciated the recent

decision of Japanesegovernment for importof quality mangoesfrom Pakistan and saidthat it would furtherboost bilateral tradebetween the two coun-tries. The President saidthat Pakistan producesbest quality mangoesand have already gainedaccess to the markets ofUS, UK, UAE, SaudiA r a b i a ,Bahrain,Singapore andsome other countries.

He said that existingcooperation between thetwo countries needs to befurther enhanced andasked for Japanese assis-tance in five broad areasincluding trade, develop-ment, security, energyand institution building.

He also urged for furtherenhancing the existingtrade volume between thetwo countries.

The President whilecommenting on invest-ment friendly environ-ment established by thepresent government saidthat Pakistan is a naturalroute for trade and energycorridors for central Asiaand west Asia and invitedJapanese investors toavail investment opportu-nities in special econom-ic zones (SEZ) estab-lished in Pakistan exclu-sively for Japaneseinvestors. The govern-ment will ensure everyfacility and foolproofsecurity to local and for-eign investors inPakistan.

The Presidentexpressed the hope thathis forthcoming visit toJapan will further jack upbilateral cooperation andopen up new areas fortrade and investmentbetween the two coun-tries.

Chihiro Atsumiexpressed the hope thatPak- Japan bilateralcooperation will touchnew heights withincreased trade andinvestment to their mutu-al benefit. He alsoassured continued sup-port of the Japanese gov-ernment in combatingterrorism, rehabilitationof flood affectees andrevival of the war andflood damaged economyof Pakistan.-INP

President to visitJapan to boost

trade & ties

ISLAMABAD: RiphahCentre of Islamic Business(RCIB), a constituent insti-tute of Riphah InternationalUniversity will organize thefirst InternationalConference on IslamicBusiness and Finance onTuesday at NationalInstitute of Banking andFinance (NIBAF).

Federal Minister forFinance and EconomicAffairs Abdul Hafiz Sheikhwill be the chief guest at theinaugural session.

Deputy Governor of StateBank of Pakistan, YaseenAnwar will be the guest ofhonour on the occasion. Thisconference will consist ofeight working sessions andwill be the first internationalconference being held in thecountry on the subject.

The conference aimed atdiscussing the present stateof Islamic business andfinance and how and inwhat way it can contributeto the stability and provideopportunities to the nationaland global economies.

The event is supported by

Islamic Development BankJeddah, Islamic Researchand Training InstituteJeddah, State Bank ofPakistan, National Instituteof Banking and Finance andHigher EducationCommission of Pakistan. Anumber of Islamic banks inPakistan are among spon-sors of the conference.

Two Pre-conferenceworkshops on IslamicModes of Business andTakful were held at NIBAFIslamabad on Monday.Renowned Islamic scholarsand economists deliveredlectures on Islamic Bankingand Finance and Shari`ahissues and challenges indeveloping Takful products.

The conference will beattended by economists andresearch scholars, policymakers from various publicdepartment and experts fromall walks of life. The keynote speakers include: Dr.Abbas Mirakhor (INCIEF,Malaysia), Dr. HussainHamid Hassan (Shari'ahAdvisor of many institutionsand member OIC Fiqh

Council), Dr. Monzer Kahf(Professor, QFIS, QatarFoundation, Doha), Dr.Muhammad Umer Chapra,Advisor Islamic ResearchAnd Training Institute(IRTI) Jeddah,Prof.Khurshid Ahmad(Chairman IPS Islamabad).

Dr Waqar Masood Khan,Secretary Finance, DrAkram Laldin (ISRA,Malaysia), Dr MunawarIqbal (Former Chief,Islamic Research andTraingin Institute, SaudiArabia), Dr Zubair Hasan(Prof at INCEIF, Malaysia),Dr Muhammad TahirMansuri (IIUI), OmarMustafa Ansari (Ernst &Young Ford Rhodes SidatHyder, Karachi), DrZeeshan Ahmed (LahoreUniversity of ManagementSciences), Mufti HassanKaleem (Shariah Advisor,Lloyds), Rustam M. Idrees(Bank Negara Malaysia),Riaz Riazuddin (State Bankof Pakistan) andSaleemullah (State Bank ofPakistan) are among theother speakers.-APP

Int'l moot on IslamicBusiness, Finance today

KARACHI: Chief MinisterSindh Syed Qaim Ali Shahhas said that there is vastscope of investment inSindh province and it isendevour of the govern-ment to provide infrastruc-ture and incentives tointending investors to comeand invest in various sectorsparticularly in developmentof coal and generation ofpower.

This he observed whileaddressing Seminar organizedby Sindh Board of Investmenton Development andInvestment for Livestock,Dairy, Fisheries and poultry atKarachi Expo Centre aimed at

to enhance investmentprocess in the province.

He said that various coun-tries including the friendlyone, are coming forward toinvest in various projectsand the government of Iranhad come forward in thisregard.

While handing over Pak-Iran land documents toConsul General of Iran atKarachi Abbas AliAbdullahi, the ChiefMinister Sindh Syed QaimAli Shah said that there arecordial relations betweenPakistan and Iran, and thosebrethren relations will fur-ther strengthen with the pas-

sage of time.Chief Minister Sindh

appreciated the efforts ofSindh Investment Board par-ticularly the Advisor ZbuairMotiwala, with those con-certed efforts, many leadingbusinessmen are attendingthe seminar and visiting theexhibition. He also congratu-lated the organizers of theexhibition. On the occasion,Motiwala presented wel-come address and said thatmany researchers, scholars,traders, businessmen,investors and exporters areparticipating in the seminarwhich will bring prominentresults.- NNI

Qaim seeks investmentin various sectors

ISLAMABAD: The Securitiesand Exchange Commission ofPakistan (SECP) has become asignatory to the InternationalOrganization of SecuritiesCommission's MultilateralMemorandum ofUnderstanding ConcerningConsultation, Cooperation andthe Exchange of Information(MMoU). This will give theSECP an edge to combat cross-border crimes and to promotefinancial stability in the country.

The Madrid-basedIOSCO is an internationalstandard-setter for securitiesmarkets regulation and aninternational forum forcooperation among securi-ties' regulators to protectinvestors, maintain fair, effi-

cient and transparent mar-kets and mitigate to sys-temic risks. The SECP hasbeen an IOSCO membersince 1998. The organiza-tion has over 199 membersfrom 114 jurisdictions thathave committed themselvesto implementing interna-tional standards of regulato-ry oversight and to develop-ing strong cooperation inenforcement action againstmisconduct.

The MMoU is an interna-tional framework for cooper-ation and a key implementa-tion tool for effectiveenforcement. It equips thesecurities market supervi-sors to improve the effec-tiveness of cross-border

securities markets supervi-sion and contributes to theglobal effort to combatcross-border securities mar-ket misconduct. An MMoUsignatory can request othersignatories' cooperation todeal with securities' crimessuch as insider dealings,market manipulation, manip-ulative practices and wrong-ful practices by investingadvisors, brokers, and othermarket intermediaries.

The SECP's becomingsignatory to this multilat-eral information sharingarrangement testifies toits ability to meet interna-tional standard for securi-ties enforcement coopera-tion.-INP

SECP becomessignatory to IOSCO

Staff Reporter

KARACHI: KorangiIndustrial Area would bemade South Asia's first everGreen Industrial Area, thiswas stated by ProvincialMinister for Environment,Shaikh Muhammad Afzal.

Addressing a luncheonmeeting at KorangiAssociation of Trade andIndustry (KATI) ShaikhAfzal urged upon the indus-tries to comply with theenvironment regulations aspressure on Pakistan tomake pollution free industryis mounting from worldorganizations.

He said that industriescould double their exportsby turning their manufactur-ing units as environmentfriendly. He announced to

amend outdated rules andregulations would bechanged. "We do not wantto enforce rules and regula-tions by force but throughpersuasion", Shaikh said.

He said that after 18thAmendment, the Sindhprovince could draft its ownrules and regulations and acommittee is being appointedin this regard which wouldalso comprising representa-tives of Sindh's industrialassociations including KATI.

Afzal said that our coastallife is being destroyed rap-idly due to dumping ofindustrial waste and releaseof untreated water in to thesea and all the industriesshould comply with therules and regulations andensure not to releaseuntreated water into the sea.

Korangi to becomeSouth Asia's first

Green Industrial Zone

Germanydonates 24ambulancesKARACHI: Germany hasdonated 24 ambulances andother medical equipment tothe Armed Forces of Pakistan.

Out of these, the firstconsignment comprising12 ambulances were hand-ed over in a ceremony heldhere on Monday.

According to ISPR pressrelease, Colonel KlauseWolf, Defence Attache ofGermany in Pakistan for-mally handed over theseambulances to BrigadierSyed Shokat Ali in a simpleceremony at West Wharf.

Brigadier Shokat Ali onthis occasion thanked thepeople and the governmentof Germany for their assis-tance. He said that theequipment would signifi-cantly help in providingmedical treatment to floodvictims.-NNI

‘shortageof skilled

workers inIndustrial

sector’ ISLAMABAD: Chairmanof the Skill DevelopmentCouncil (SDC) MianAkram Farid has stressedthe need of providing nec-essary financial resourcesto the Council by the gov-ernment for extension ofits activities as the industryis facing shortage ofskilled workforce.

Addressing a meetinghere on Monday, MianAkram Farid emphasizedon closure of those insti-tutes, which were involvedin issuance of fake certifi-cates and diplomas, said apress release. Only NTBand the Ministry of Labourcan take action againstsuch institutions, he added.

Director General ofNational Training Bureau(NTB) Razia Zuberi andChairmen of four Councilsof the country were also onthe occasion. The names ofboard of directors of theCouncils were also final-ized in the meeting.

Mian Akram said that theCouncils were trying theirlevel best to fulfill thetraining needs of the indus-try but they were handi-capped on account of lim-ited financial resources.

The NTB officialsassured their full coopera-tion and technical supportto the Councils.-APP

Plan tomark Faiz’s100th birthanniversary

Staff Correspondent

ISLAMABAD: PakistanAcademy of Letters (PAL)will hold a seminar andscreen a special film ongreat poet, Faiz AhmadFaiz in connection with his100th birth anniversary onFebruary 10.

State Minister forEducation, Ghulam FaridKathia will be the chiefguest while Prof. FatehMuhammad Malik, IftikharArif, Ishfaq Saleem Mirzaand Sarwat Mohyuddinwill present their papers onthe occasion.

Flood commission

meeting todayISLAMABAD: The fourthmeeting of the FloodCommission is being heldin the Cabinet Divisionhere on Tuesday.

As per decision of theCommission the representa-tive of Sindh Irrigation andDrainage Authority (SIDA),Chairman SUPARCO, DGMetrological Departmentand representative ofMinistry of Defence willbrief the Commission.

In addition to it, ShujaAhmed Junejo, formerSecretary, Irrigation andPower, Government ofSindh was also issuednotice to appear before theCommission.- NNI

Four targetkillers heldKARACHI: Police havearrested four terroristsinvolved in target killingincidents and recoveringarms from their possessionhere on Monday.

According to the local TVchannel, acting on a tip,Korangi Police captured fourterrorists involved in targetkilling from Korangi-2.Police have recovered armsfrom their possession as well.

The captured terrorists areZeeshan alias Shani, RamizRaja, Muhammad Fardeenand Noni respectively. Oneof the terrorists has report-edly confessed to plan mur-der of a private TV channelreporter Wali Khan Babar.

The suspects are said tohave links with a politicalparty. Further investigationis underway. New and sig-nificant findings are expect-ed.-Online

KARACHI: The Ambassador of Thailand to Pakistan Marut Jitpatima visiting Fauji

Akbar Portia Marine Terminals, Pakistan's first state of the art fully automated Dry

Bulk Cargo Terminal at Port Qasim. Picture shows: (L-R) Col. (R) Arshad Mehmood

(Manager Admin, FAP), Abdul Waheed (GM Operations, FAP), . Mubeen Ahmed

Ansari (Protocol Officer, Thai Consulate), Marut Jitpatima (Ambassador of

Thailand),. Ahmed Rana (Cheif Executive Officer, FAP), Udom Sapito (Consul

General of Thailand), Aurangzeb Ahmed Khan (Company Secretary, FAP) and Sam

McElroy (Terminal Manager, FAP).'-Staff Photo

ISLAMABAD: President Asif Ali Zardari in a meeting with Japanese Ambassador in Pakistan, Chihiro Atsumi at the Aiwan-e-Sadr.-APP

TV PROGRAMMES

TUESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:00 News

11:30 Hal Kya Hai (Rpt)

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Aap Ki Baat

19:00 News

19:05 Hal Kya Hai

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With Jasmeen

23:00 News

23:30 24

CM openslivestock,

dairy, fisheries& poultryexhibition

KARACHI: Chief MinisterSindh Syed Qaim Ali Shahinaugurated the 2-dayLivestock, Fisheries, Dairyand Poultry Exhibition andSeminar at Karachi ExpoCentre, organized by SindhBoard of Investment.

On the occasion, he saidthat our country particularlythe Sindh province is agri-culture oriented provinceand besides food items,orchards, and vegetables; itis famous for prominentbreeds in cattle, dairy farm-ing, having vast area incoastal belt with fisheries,shrimps and poultry.

He said that the bestbreeds of animals such asKundhi buffallows, Kamorigoat, Thari cow and otheranimals are famous for milkand meat production.-NNI

MOSCOW: The Russianrouble has firmed versus theeuro-dollar basket onMonday beyond the psycho-logically important mark of34.00, which was touched forthe last time in August 2010.

By the end of official tradeon the MICEX exchange, therouble was up 16 kopecks to34.00, after briefly touchingits strongest levels since lateMay of 33.99.

"Strategically, the roublewill rise. But today, ... buyers(of foreign currency) maybecome active with the bas-ket at such low levels," saidSergei Fishgoit, a dealer atOtkrytiye Bank.

The prospect of increaseddollar purchases from thecentral bank beyond 34.00 isalso making the market cau-tious about pushing the rou-ble to new peaks for the timebeing.

Dealers estimate the centralbank buys up to $200 milliona day at current levels, aspart of its policy to smoothout excessive market volatil-ity, but these interventionsare set to if the roublestrengthens beyond 34.00.

A $33 billion, three-year

privatisation drive shouldalso ensure inflows of for-eign cash into Russia aftersome $38 billion left thecountry last year.

Domestically, high infla-tion -- with consumer pricesposting their biggest month-on-month rise in two years inJanuary -- is expected toprompt central bank interestrate hikes, boosting the rou-ble's yield appeal.

"Higher interest ratesmight trigger capital inflowsas well as affect the roublebond market," analysts atVTB Capital said in a note.

"In spite of the rouble'srecent strong performance,we think the rouble has stillsome room for appreciationsince the tax period is loom-ing, pushing exporters to sellhard currency." -Reuters

Russian rouble hitshigest since May ‘10

3Tuesday, February 8, 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 07/02/2011

A USD GBP CAD EUR JPY

O/N 0.23740 0.55688 0.95917 0.33125 SN 0.10813

1WK 0.25300 0.57563 1.00083 0.83000 0.11500

2WK 0.25800 0.58438 1.03833 0.83875 0.11688

1MO 0.26375 0.61250 1.08000 0.85000 0.12750

2MO 0.28800 0.67938 1.14750 0.90375 0.15438

3MO 0.31200 0.80000 1.21000 1.03063 0.19000

4MO 0.35100 0.88313 1.27667 1.09750 0.24313

5MO 0.41000 0.98625 1.34000 1.18000 0.30000

6MO 0.46285 1.10188 1.40667 1.27375 0.34625

7MO 0.51675 1.18225 1.49250 1.33000 0.39375

8MO 0.56950 1.26813 1.56917 1.38563 0.44313

9MO 0.62740 1.35000 1.63917 1.44625 0.48750

10MO 0.67925 1.43000 1.72750 1.49500 0.51438

11MO 0.73280 1.49813 1.81083 1.54625 0.54125

12MO 0.79275 1.56688 1.90000 1.60375 0.56750

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

U.S.A. 85.60 85.40 85.22U.K. 138.11 137.78 137.47EURO 116.54 116.27 115.99CANADA 86.76 86.56 86.33SWITZERLAND 89.77 89.56 89.32AUSTRALIA 86.76 86.56 86.33SWEDEN 13.25 13.22 13.18JAPAN 1.04 1.04 1.04NORWAY 14.89 14.86 14.82SINGAPORE 67.15 66.99 66.81DENMARK 15.63 15.60 15.56SAUDI ARABIA 22.83 22.77 22.71HONG KONG 11.00 10.97 10.95CHINA 13.05 13.02 12.99KUWAIT 305.59 304.88 304.08MALAYSIA 28.18 28.12 28.04NEW ZEALAND 65.96 65.80 65.63QATAR 23.50 23.45 23.39U.A.E. 23.31 23.25 23.19KR WON 0.08 0.08 0.08THAILAND 2.78 2.77 2.76

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3521 1.3524 1.3625 1.3509

USD-CHF 0.9566 0.9571 0.9596 0.9532

GBP-USD 1.6105 1.6109 1.6185 1.6093

USD-CAD 0.9878 0.9881 0.9894 0.9860

AUD-USD 1.0151 1.0155 1.0157 1.0109

EUR-JPY 111.2900 111.3200 112.1700 111.2600

EUR-GBP 0.8397 0.8400 0.8447 0.8392

EUR-CHF 1.2940 1.2944 1.3042 1.2934

GBP-JPY 132.5300 132.5800 133.2400 132.2900

CHF-JPY 85.9500 86.0100 86.2300 85.8300

Gold 1349.4800 1350.1500 1353.0000 1343.8000

As per 22.00 PST

Time Source Events Forecast Previous

1:00 USD Consumer Credit m/m 2.2B 1.3B

All Day CNY Bank Holiday

5:01 GBP BRC Retail Sales Monitor y/y -0.3%

5:01 GBP RICS House Price Balance -38% -39%

10:00 JPY Economy Watchers Sentiment 45.6 45.1

11:45 CHF Unemployment Rate 3.5% 3.6%

12:45 EUR French Trade Balance -4.1B -3.9B

16:00 EUR German Industrial Production m/m 0.2% -0.7%

18:15 CAD Housing Starts 171K 168K

20:00 USD IBD/TIPP Economic Optimism 52.8 51.9

Source Events Actual Forecast Previous

CNY Bank Holiday

AUD Retail Sales m/m 0.2% 0.5% 0.4%

EUR Sentix Investor Confidence 16.7 14.1 10.6

EUR German Factory Orders m/m -3.4% -1.4% 5.2%

CAD Building Permits m/m 2.4% 2.9% -10.5%

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada March 1, 2011 September 8, 2010 1%

Bank of England February 10, 2011 March 5, 2009 0.50%

Bank of Japan February 14, 2011 December 19, 2008 0.10%

European Central Bank March 3, 2011 May 7, 2009 1%

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

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

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

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, February 07,2011 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

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

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

ABLN 12.10 12.60 12.25 12.75 12.65 13.15 13.30 13.55 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 12.25 12.75 12.50 13.00 12.75 13.25 13.45 13.70 13.60 13.85 13.75 14.25 13.85 14.35 13.95 14.45

ASPK 12.20 12.70 12.50 13.00 12.70 13.20 13.35 13.60 13.50 13.75 13.60 14.10 13.75 14.25 13.80 14.30

CIPK 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

DBPK 12.00 12.50 12.35 12.85 12.50 13.00 13.25 13.50 13.40 13.65 13.50 14.00 13.60 14.10 13.80 14.30

FBPK 12.00 12.50 12.40 12.90 12.70 13.20 13.40 13.65 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.10 12.60 12.35 12.85 12.65 13.15 13.40 13.65 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 12.05 12.55 12.35 12.85 12.70 13.20 13.40 13.65 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

HKBP 12.00 12.50 12.20 12.70 12.70 13.20 13.35 13.60 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 12.50 13.00 12.65 13.15 12.70 13.20 13.20 13.45 13.40 13.65 13.50 14.00 13.60 14.10 13.70 14.20

HMBP 12.20 12.70 12.55 13.05 12.80 13.30 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

SAMB 11.90 12.40 12.40 12.90 12.70 13.20 13.25 13.50 13.40 13.65 13.50 14.00 13.75 14.25 13.85 14.35

MCBK 12.00 12.50 12.40 12.90 12.60 13.10 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.00 12.50 12.50 13.00 12.60 13.10 13.40 13.65 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.15 12.65 12.50 13.00 12.70 13.20 13.40 13.65 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

UBPL 12.10 12.60 12.30 12.80 12.60 13.10 13.40 13.65 13.55 13.80 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.08 12.58 12.42 12.92 12.68 13.18 13.38 13.63 13.51 13.76 13.63 14.13 13.76 14.26 13.86 14.36

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)07/02/2011

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

1 week -0.47 -0.49 0.01 -0.60 -0.86 -0.71 -0.73 0.441 month -0.70 -0.60 -0.64 -0.70 -0.83 -0.83 -0.76 -0.123 months -0.79 0.19 -0.52 0.03 -0.51 -0.33 -0.75 0.606 months -0.77 -0.10 -0.79 -0.37 -0.79 -0.56 -0.78 0.611 year -0.72 0.79 0.24 0.67 -0.38 -0.75 -0.79 0.322 years -0.81 0.81 0.42 0.74 0.05 -0.23 -0.77 0.72

Currencies CorrelationUSD/JPY

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.10 12.30 12.30 12.40 12.60 12.25 12.33

8-15dys 12.55 12.70 12.50 12.70 12.85 12.60 12.65

16-30dys 12.70 12.80 12.80 12.80 12.90 12.80 12.80

31-60dys 13.05 13.12 13.05 13.05 13.10 13.10 13.08

61-90dys 13.35 13.35 13.38 13.38 13.25 13.35 13.34

91-120dys 13.46 13.47 13.48 13.49 13.45 13.50 13.48

121-180dys 13.50 13.50 13.55 13.58 13.50 13.58 13.54

181-270dys 13.60 13.62 13.65 13.66 13.60 13.65 13.63

271-365dys 13.70 13.74 13.76 13.70 13.70 13.75 13.73

2-- years 14.05 14.10 14.08 14.00 14.05 14.00 14.05

3-- years 14.15 14.25 14.23 14.23 14.22 14.22 14.22

4-- years 14.18 14.25 14.24 14.25 14.22 14.20 14.22

5-- years 14.22 14.28 14.25 14.26 14.23 14.23 14.25

6-- years 14.23 14.30 14.29 14.28 14.30 14.27 14.28

7-- years 14.24 14.30 14.32 14.30 14.35 14.33 14.31

8-- years 14.25 14.25 14.25 14.30 14.23 14.26 14.26

9-- years 14.26 14.15 14.20 14.20 14.20 14.21 14.20

10--years 14.27 14.27 14.26 14.28 14.25 14.26 14.27

15--years 14.60 14.45 14.60 14.65 14.55 14.70 14.59

20--years 14.80 14.60 14.78 14.90 14.75 14.85 14.78

30--years 14.90 14.75 15.00 15.10 15.00 15.00 14.96

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for February 07, 2011

NEW YORK: The euro fell against thedollar for a fourth straight day onMonday, with further weakness seenlikely, as soft German industrial dataprompted investors to book profitsafter the single currency's new yearrally.

The euro hit a two-week low, fallingbelow the current 100-day simple mov-ing average, a key support, at around$1.3532. Investors focused on $1.3500,followed by $1.3480, the 38.2 per centretracement of the January-to-Februaryrally.

Investors sold the euro as they paredback expectations of a euro-zone ratehike in the coming months and analystssaid its near-term direction would stillhinge on the progress of discussions ona euro-zone debt rescue fund.

David Watt, senior currency strate-

gist, at RBC Capital Markets inToronto, said that given the euro-zone'sdebt problems, the euro has had a goodrun and overcome most of the hurdles.

" B u t( E u r o p e a nUnion) realitiesare starting tocreep back inand the realityis there is stillno long-termplan to addressthe crisis. So I think investors are quitehappy to sell into the euro's rallies."

Further weakening the euro's resolvewas a report showing German industri-al orders fell 3.4 per cent in December,worse than forecasts for a 1.5 per centfall, on weak demand outside the euro-zone. The data highlighted the German

economy's reliance on externaldemand. In addition, US Treasuryyields have moved higher on expecta-tions of a stable recovery in the world's

largest economy, supporting the dollar.Friday's report showing a decline in theUS unemployment rate to 9.0 per centadded to that view and raised questionsover whether the Federal Reservewould keep interest rates low for a longtime. "Those sentiments appear moredominant in the market at present and

more consistent with the continued risein US yields," said Bob Lynch, seniorcurrency strategist at HSBC Bank inNew York.

In early New York trading, the eurofell 0.5 per cent to $1.3521, extendinglosses made after the US payrollsreport on Friday. It hit a low of $1.3512on electronic trading platform EBS.

Traders said the German data trig-gered stop-loss orders on the downside,overtaking earlier demand from Asianfirms as most Asian markets resumedtrading after the lunar new year holi-days.

Euro positioning has also becomemore neutral after significant shortstaken on the currency. Currency specu-lators raised their bets on it for theweek to Feb. 1 to the most since lateOctober. -Reuters

Euro hits 2-week low vsdollar, more losses seen

MUMBAI: The Indianrupee rose to 2-½ weekhighs on Monday, aided bydollar inflows as well asdomestic equity strength,but importer demand for thegreenback due to high oilprices prevented a sharperrise.

The partially convertiblerupee ended at45.4750/4850 per dollar,after rising to 45.45, itshighest since Jan. 19. It hadended at 45.5950/6050 perdollar on Friday.

"Good amount of flowswill continue and thatshould support the rupee inthe next couple of days. Butimporter's demand is alsostrong. The two will balanceeach other. Therefore, therupee will hold the range forsometime before it breaksit," said Ashtosh Raina,head of foreign exchangetrading at HDFC Bank.

Foreign institutional

investors bought Indianshares worth $49.17 millionon Friday. This was the sec-ond straight session whereforeigners bought sharesafter being net sellers in theprevious five sessions.

They have pulled out $1.3billion this year until Feb. 4,on concerns over high infla-tion.

Traders expect the rupeeto be in the range of 45.35-45.45 per dollar on Tuesday.

One-month offshore non-deliverable forward con-tracts were quoted at 45.65,weaker than the onshorespot rate. In the currencyfutures market, the mosttraded near-month dollar-rupee contracts on theNational Stock Exchange,the MCX-SX and theUnited Stock Exchangewere at 45.6300, 45.6300and 45.6275 respectively,with the total traded volumeat $5.04 billion. -Reuters

Indian rupee surges;inflows, shares support

SINGAPORE: TheIndonesian rupiah hit a one-month high against the dollaron Monday after stronger-than-expected economic growth inthe fourth quarter triggered aspike in bond yields andattracted speculative buyers.

The rupiah will probablykeep rebounding, with the mar-ket a bit more confident thatBank Indonesia will cap infla-tion pressures after it raisedpolicy rates on Friday, thoughit may not outperform otheremerging Asian currencies,analysts and dealers said.

"Fears are probably settled abit compared with the first bitof the year but we are only onebad number away from con-

cerns rising again," saidJonathan Cavenagh, senior FXstrategist at WestpacInstitutional Bank inSingapore.

On Friday, Indonesia's cen-tral bank raised its benchmarkinterest rate by 25 basis pointsto 6.75 per cent on growinginflationary pressure.

Asian currencies also broad-ly gained as dealers boughtback currencies they deemed abit oversold in the past fewweeks. The South Korean wonrose to a three-month highagainst the dollar, supported byexporters and short covering.

The rupiah hit a one-monthhigh against the dollar on buy-ing by short-term investors.

Dollar/rupiah slid down to aslow as 8,960, the lowest sinceJan. 3.

The pair is seen having roomto fall more in the near term,potentially targeting 8,950, the61.8 per cent retracement ofthe move from November toJanuary. Dollar/rupiah willlikely carve out a rangebetween 8,950 and 9,050 in thenext few months.

The dollar/Philippine pesofell for a fifth consecutive ses-sion as dealers said local intra-day players were selling thepair and on offshore flows.

But the central bank wasspotted intervening to cap fallsin the pair, dealers said. -Reuters

Asian currencies

Rupiah at 1mth high,more tightening seen

SYDNEY/WELLINGTON: The Australiandollar advanced on Monday, as strong data onjob ads helped offset subdued retail numbers,while the New Zealand dollar nudged up onbroader US dollar softness.

Surging commodities prices also helped theAussie with copper soaring to a record high onMonday and iron ore, the nation's top export,holding near a record.

A choppy session saw the Aussie slip to a ses-sion low of $1.0103 in reaction to a below-fore-cast retail sales number, but it quickly bouncedto $1.0135 as solid job ads illustrated the under-lying strength in the economy.

"We saw a modest weakness after the data wasreleased but the Aussie clawed back all its loss-es. Overall, the Aussie remains very well sup-ported," said Besa Deda, chief economist at St.George Bank.

Despite damaging natural disasters inQueensland and soft retail spending, theAustralian economy still displays a favourabledomestic outlook, she added.

The slip in the currency followed a 0.2 percent rise in retail sales in December, below aforecast of 0.5 per cent as consumers stayed cau-tious.

Yet, other data out on Monday showed jobadvertisements in newspapers and on the netclimbed a strong 2.4 per cent to a two-year highin January even as flooding in Queensland hitads in the state, suggesting any damage to thelabour market would be less than many hadfeared. Traders attributed the extra lift to a pull-back in the US dollar, with the dollar index,which tracks the greenback against a basket ofmajor currencies, down 0.19 per cent. Supportfor the Aussie is now seen around $1.0083 andresistance at its Feb. 4 high of $1.0201.Interbank futures held steady as the retail andjob data did little to challenge expectations thatinterest rates are on hold for some months tocome. The Reserve Bank of Australia (RBA)left its cash rate unchanged last week at 4.75 percent with markets pricing a 41 basis points tight-ening within 12 months. -Reuters

Australia, kiwi dollarsrise with commodities

Won up 0.9pc; growing intervention caution caps gains

LONDON: Sterling rose to athree week high against theeuro and against a basket ofcurrencies on Monday onmounting expectations theBank of England will raiseinterest rates by the middle ofthe year.

The Bank of England'sMonetary Policy Committee(MPC) meets on Thursday andis widely expected to keep thebank rate at 0.5 per cent.

However, investors have beenpricing in a growing risk of ahike as early as this weekwhich has lifted the pound.

Markets are now fully pric-ing in a rate rise by May andgiving a 22 per cent risk of ahike on Thursday.

Speculation has been grow-ing since the minutes of theJanuary meeting revealed BoEpolicymaker Martin Wealejoined Andrew Sentance invoting for a 25 basis point hike,helped also by some firmer UKdata and more hawkish BoE

commentary.Traders said a report in the

Sunday Times newspaper inwhich a "shadow" monetarypolicy committee -- made up ofeconomists from the Institutefor Economic Affairs thinktank -- voted 5-4 to lift rateswas being used as a reason tobuy sterling. The euro wasdown 0.4 per cent at 84.07pence, having dropped to 83.89pence, its lowest since Jan. 19,

as investors anticipated theBoE would move faster thanthe European Central Bank inraising the cost of borrowing.

The pound's gains against theeuro helped lift sterling's trade-weighted index to 81.8, also athree-week high. Against anotherwise firmer dollar, ster-ling edged up 0.1 per cent to$1.6112, off a session high of$1.6186. Despite strong expec-tations of a rate rise, there areconcerns that a such anincrease could unsettle an eco-nomic recovery. -Reuters

Rate view takes stgto 3wk high vs euro

Swiss franctracks dollarlower vs euroZURICH: The Swiss franc fellagainst the euro on Monday asAsian buyers bid up the singlecurrency after Asian new yearholidays, and extended a three-day losing streak against thedollar as robust US data buoyedsentiment

Franc watchers will be look-ing out for Swiss January job-less data on Tuesday and con-sumer confidence and con-sumer prices later on Thursday,which are expected to confirmSwitzerland's recovery fromrecession remains intact.

But with no major interna-tional data releases, analystssaid focus is likely to return tothe euro-zone debt crisis.Markets will also pay attentionto any comments fromEuropean Central Bank mem-bers on inflation expectations.

The dollar was buoyed onFriday after signs of underlyingstrength in the US labour mar-ket boosted US bond yields,making Treasuries more attrac-tive to investors and strength-ening the greenback againstmajor currencies.

The franc rose around 0.4 percent against the euro comparedto Friday's New York close,trading at 1.3029 francs pereuro at 0745 GMT. -Reuters

Euro speculative positioning more neutral

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

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

use of these reports and recommendations.

Thinkout of

Cabinet For quite some time the debate about rightsiz-

ing the cabinet is going on but no move has beenmade beyond ongoing consultation with thecoalition partners, some of them have decided toquit the government and even made request forallocation of seats on the opposition benches.However, they were successfully persuaded torejoin the government and some of the ministerdespite resigning have not vacated the officialresidences and/or returned the officials cars.

The demand for rightsizing of cabinet wasbased on the facts given below.

1) There was a long list of ministers, state min-isters and advisors, especially after transferringof some of the federal ministries to provincessome of the ministers became redundant.

2) Performance of some of the key ministriesi.e. Water & Power, Petroleum and NaturalResources, Agriculture & Food, Production andIndustries, Commerce and Finance has been dis-appointing. Most of these have attracted corrup-tion charges or have grossly failed to deliver.

3) Despite having a huge team costing millionsof rupees per day the prime minister could notget even the appropriate recommendations, whatto talk of making prudent decisions. In such ascenario the nation is right in demanding if thesepersons are good for nothing they must be senthome, it'll help in saving millions of rupees perday and above all clear the mess created due totrespassing and interference.

Now the big question is will the prime ministersucceed in reducing the number of minister, stateministers and advisors? Apparently, reducing thenumber seems extremely difficult but will thechange in faces make any difference? Ironically,be it the selection of ministers and advisorsand/or appointment of heads of entities key enti-ties like National Insurance Corporation,Pakistan Steel Mills and Trade DevelopmentAuthority of Pakistan the track record is notenviable. Since the heads were selected on thebasis of 'other qualities' performance of theseentities has also been far from satisfactory.

The well wishers of the democratic govern-ment have been hinting towards inherent weak-nesses of the regime but least has been done overthe last three years and not much is expected inthe remaining two years. This perception isbecause the elected government has failed inprotecting the interest of masses. Be it the sastiroti project of Punjab Government or BenazirIncome Support Programme, the expenses runinto billions of rupees but beneficiaries haveremained a selected few and masses have notbenefited from it.

A wave of anti government demonstrationshave started in many countries and some of thecynics are warning of similar situation turningout in Pakistan. The point worth noting is thatwhat's going on in Egypt is a leader-less move-ment and now it only remains to be seen for howlong Hosni Mubarak can sustain the pressure.His exit seems eminent after having enjoyed thepatronage of the sole surviving superpower.

4Tuesday, February 8, 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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The Financial Daily InternationalVol 4, Issue 176

Saudi Arabia is more concernedabout losing allies to counter itsregional adversary Iran than with

the risk that upheavals sweepingTunisia and Egypt might spread to thekingdom, diplomats and analysts say.

Flush with petrodollars, the world'stop oil exporter can splash out to allevi-ate any social tensions due to unem-ployment -- around 10 per cent of theSaudi work force is jobless -- and quellany unrest in the absolute monarchy,they say.

But some believe the Saudi rulerswould be alarmed if the United Statesjettisons Egyptian President HosniMubarak, who, like successive Saudimonarchs, has been a longtime US allysince taking power three decades ago.

"The Saudis...are worried that the UShas made a foreign policy mistake byappearing to give up support forMubarak too easily," said SimonHenderson, a Washington-based Saudiwatcher.

For the moment, Mubarak remainsin place. Protesters who have paral-ysed Egypt and extracted concessionsunimaginable two weeks ago --among them a Mubarak pledge notrun again for president in Septemberelections and the sacking of his cabi-net -- have yet to achieve their coredemand that he go now.

Yet the Saudis may feel that a weak-ened Mubarak on his way out is nolonger an effective bulwark against

Shi'ite Iran. They more than share USfears that Iran is seeking nuclearweapons -- a charge Tehran denies.

"Cut off the head of the snake," theSaudi ambassador to Washington, Adelal-Jubeir, quoted King Abdullah asadvising US General David Petraeus inApril 2008, according to a US cablereleased by WikiLeaks in November,referring to Iran.

The kingdom, custodian of Islam'sholiest sites, sees itself as a bastion ofSunni Islam, so it is also deeply con-cerned about wider Shi'ite influence inthe region having watched the 2003US-led invasion produce a Shi'ite-ledgovernment in Iraq.

The Saudis fret that the balancecould tilt further if Mubarak's impend-ing exit leads to prolonged uncertaintyin Arab heavyweight Egypt, a staunchfoe of Iran.

"There will be a vacuum. Egypt wasa very important element for MiddleEastern stability. Saudi Arabia willhave to carry the burden if there isinstability or a vacuum on the politicalside," said Turad al-Amry, a Saudipolitical analyst.

"What is the direction of the newregime and new government (in Egypt)and how fast can it perform business?"he asked.

SPACE FOR RIVALSEgypt, shaken by anti-Mubarak

protests for the past 13 days, will in anycase be too focused on its internal cri-

sis to bolster Saudi efforts to counterIran's sway, analysts say.

Diplomats said Riyadh also worriesthat a diplomatic void left by a preoc-cupied Egypt will give openings tocountries such as Turkey and Qatar, asmaller Gulf rival of Saudi Arabia,which both seek bigger regional rolesand are on good terms with Iran.

"Saudi influence will probablydiminish, while others such as Qatarand Turkey who do not want an isola-tion of Iran like the Saudis will play abigger role," said a Gulf-based diplo-mat.

Riyadh will be hard-pressed to findArab allies to replace Egypt in a con-servative Sunni axis wary of Iran, ana-lysts say. Iraq and Syria already havestrong ties with Tehran.

That might make Riyadh keener toensure stability in Jordan, a Sunnimonarchy also hit by street protests."The Saudis could pump moremoney into Jordan," said US analystBarak Barfi.

Egypt's upheaval comes at an awk-ward time for the Saudi royal family.King Abdullah, is about 87 and wentabroad for medical treatment inDecember. Crown Prince Sultan, hisslightly younger brother, is also ailing.Another brother, Interior MinisterPrince Nayef, is a possible candidatefor future king.

Eventually the throne will have topass to a new generation of Saudi

princes. Although the king has set up aroyal council to regulate succession, itis not clear how that will work.

All this makes it difficult for the age-ing Saudi leadership to deal with anychange in Egypt, diplomats say.

A week ago, King Abdullahbecame one of the few Arab leadersto voice open support for Mubarak.He also gave refuge in the kingdomto ousted Tunisian leader Zine al-Abidine Ben Ali.

The king's instinctive support for theembattled Egyptian leader revealed theextent to which Saudi foreign policydepends on long-tested personal ties.Sultan, Nayef and Foreign MinisterSaud al-Faisal have also knownMubarak for decades.

For these stalwarts of a once-staticArab order, US calls for Mubarak tocede "change now" awaken memoriesof American demands for reform inIran before the shah was toppled in1979.

"It is evident that the US is abandon-ing Mubarak," said Hilal Khashan,political science professor at theAmerican University of Beirut. "Hisregime has expired."

This was sending shock waves toSaudi Arabia, a strategic ally of theUnited States since 1945, he said.

"If the US pushes for change inEgypt, nervous al-Saud royals will feelpressure coming their way very soon."-Reuters

Saudi Apprehensions

Shumaila Raja

As Obama took over the reign ofpower from war-maniac GeorgeBush more than two years ago,

the South Asian experts pinned hopethat his administration would pay anadded attention towards resolving theKashmir issue as they considered it oneof the root causes of world terrorism,Afghanistan's troubles and growingmenace of Talibanisation. Americanthink-tank, South Asia expert and for-mer policy adviser of US presidentBarrack Obama, Bruce Riedel, in hisbook "The Search for al-Qaeda"observes: "In a best-case scenario, theinternational community should seek toallay Pakistan's anxiety about India byresolving the underlying disputebetween the two countries, which iscentred in Kashmir. This would reducethe need for a nuclear arsenal orjihadist backup to compel India towithdraw from the valley. (p.141)" Hefurther writes "(Since) India has nointention of withdrawing fromKashmir, the US quiet diplomacy ini-tiative can bring both the countries toresolve the issue through dialogueprocess. Washington should be moreprepared to press New Delhi to be moreflexible on Kashmir. It is clearly in theUS interest and also in India's interest.(142-143)"

But unlike the expectations, this hasnot happened so far, instead Kashmir isnot only left unattended, the Indiangovernment and military have activelybeen executing a well thought out planto cleanse the Muslim majorityKashmir freedom movement activists.Hundreds of teen-age youth have beenkilled and though recently there hadbeen an announcement by New Delhito cut 25% troops deployed in the HeldValley, which Pakistan considered as amere announcement, because there hasalways remained a big differencebetween what New Delhi said and whatdemonstrated on ground, and the

Indian army chief later clearly refutedthat there was no troops reduction tak-ing place in Kashmir. Experts believedthat such an announcement was linkedto the recent visit of US presidentObama, which has proved to be only aface saving exercise, nothing more.Obama was expected to come up withsome clear agenda on Kashmir but thevisit ended with no commitment at all.

Experts believe that the US had theopportunity to resolve Kashmir soonafter its arrival in Afghanistan, butinstead it opted to start wasting itsenergies by putting pressure onPakistan for doing more in the globalwar against terror. It kept its gaze fixedon Pakistan only and held it responsi-ble for providing safe sanctuaries andallowing cross border terrorism. Todivide the premier institutions, the UScharged that some elements within theArmy and ISI were linked with Taliban.Afghan regime under Karzai egged onby India was more specific in its allega-tions and said that the ISI was runningtraining camps for the militants andlaunching them into Afghanistan.

The US and Karzai regime paid noheed to other next door neighbors ofAfghanistan like Iran, China,Turkmenistan, Uzbekistan andTajikistan from where cross bordermovement was more easier than fromPakistan. They ignored the fact thatalmost equal number of runaway al-Qaeda and Taliban fighters had takenrefuge in Iran and neighboring three exSoviet Republics of Central Asia wherepro-Taliban Islamic movements wereraging. Russia which has still not for-gotten the huge trauma it suffered inAfghanistan because of US role wasalso keen that Afghanistan becomes agraveyard for USA. China also mustnot have taken kindly to CIA's discreetinvolvement in its southern XingjianProvince and in Tibet. Unlike pro-America Pakistan which is also a coali-tion partner and frontline state to fightUS dictated war on terror, Iran is antag-

onistic towards USA and desires itscrushing defeat at the hands of Taliban.

The main reason for overlooking allother players and singling out Pakistanis the secret plan made in collaborationwith India, Israel and Britain. The UScan ill-afford to ruffle the feathers ofChina and Iran because the two are fol-lowing independent foreign policiesand are not dependent upon US aid andabove all are blessed with strong lead-ership. Pakistan on the other hand isruled by handpicked corrupt rulers andis submerged in foreign debts. Its econ-omy is in ruins and oxygen is beingprovided by US controlled IMF andWorld Bank to keep the country barelyfloating. Pakistan's economy has beendeliberately enfeebled to compel itsweak-willed and compliant leaders tohand over the keys of strategic assets ofthe country to Washington.

Notwithstanding US and Israel'sardent wish to denuclearize Pakistan,the two doesn't want liquidation ofPakistan. At best the two want Pakistanto become a secular and a non-nucleardocile state ready to serve US interestsin the region. India on the other handwants decimation or as a minimumBalkanization of Pakistan since it isstill not reconciled with its existenceand considers it a thorn in its way tobecome a big power. India has beenconstantly poisoning the ears of USleaders and presenting Pakistan as thebiggest threat to USA and the westernworld. Indian leaders have been con-vincing them that the roots of terrorismin Afghanistan lay in FATA. It has beeninciting them to push forward its spe-cial forces into FATA to destroy theroots. Bright idea of safe havens inWaziristan has been transplanted intothe minds of US officials so firmly thatthey have got transfixed with it and areconvinced that until and unless thesanctuaries are destroyed either byPakistan Army or NATO, no worth-while results will ever be achieved bythem in Afghanistan and will suffer a

defeat.Had Pakistan been peaceful as it was

before 2002, and there had been fewerfatalities taking place as a result of ter-rorism, the accusers could have somegrounds to get suspicious and hurlunsubstantiated accusations that thereappeared to be some kind of linkagebetween Pakistan's security forces andmilitants? On ground, Pakistan Army,ISI and civilians have suffered heavycasualties at the hands of militants ofdifferent hues who have joined upagainst them. Series of terror attackshave taken place on ISI installations inPeshawar, Rawalpindi, Lahore andMultan. GHQ was also struck by theterrorists. Pakistan Army and ISI havesuffered well over 3,200 casualtiessince the two joined the war in 2002.Injury list run into thousands withmany crippled for life. List of widowsand orphans is quite long. These fig-ures are several times more than whatthe combined armies of 48 countriesinvolved in counter terrorism have suf-fered in Afghanistan.

In this backdrop nobody is trying tounderstand that Pakistan's main con-cern i.e. Kashmir solution, is addressedto settle down its dispute with India.The demand for an operation in NorthWaziristan cannot be met unless the sit-uation or ground is evaluated throughPakistan's own perspective as well.Gen Kayani has time and again pointedout towards India's water offensive aswell as its designs in the region. Waterwar has been unleashed which has apotential to make Pakistan's agricultureland as barren. All the water coursesand rivers originate from Kashmir andthe settlement of Kashmir is the basisof a lasting solution in Afghanistan aswell. The Obama administration has tolook to Bruce Riedel's conclusion thatWashington will have to play its pivotalrole in resolving the issue for peace inSouth Asia. The issue is a nuclearflashpoint which the region cannotafford.

US & Our Jugular Vein

Is ElBaradeiEgypt’s New Face?

Mohammad Mustafa ElBaradei born on 17June1942 in Cairo Egypt, one of thefive children of Mustafa ElBaradei, an attorney and head of Egyptian BarAssociation. El-Baradei's father supported human rights, free media for people ofEgypt and so was at logger heads with government. ElBaradei got Bachelor'sdegree from in Law from University of Cairo in 1962 and then DAE inInternational Law from Geneva followed by J.S.D. in International Law fromUS. He started diplomatic career in 1964 which lasted for more than twodecades. He also delivered lectures as he was an Adjunct Professor ofInternational Law at New York University School of Law (1981-1987).

In 1984, ElBaradei became a senior staff member of the IAEA Secretariat serv-ing as the Agency's legal adviser (1984 to 1993) and Assistant Director Generalfor External Relations (1993 to 1997).

ElBaradei became Director General of the International Atomic Energy Agencyin Vienna in 1997, He was lucky enough to be re-elected for two more four-yearterms in 2001 and 2005. For the third and last term, he was elected in November2009. During his term he focused on non-proliferation issues that included hisinspection in Iraq followed by March 2003 invasion of Iraq by US. He was quiteoutspoken about nuclear program of Iran and commented in favour of Iran in hisvarious interviews to different journals of different countries.

Mohamed ElBaradei's did not restrict his work to nuclear verification. He con-centrated on an important aspect, development through nuclear technology.ElBaradei launched a comprehensive global initiative to fight cancer known asthe Programme of Action for Cancer Therapy (PACT). Once he said: "A silent cri-sis in cancer treatment persists in developing countries and is intensifying every

year. At least 50 to 60 per cent of cancer victims can benefit from radiotherapy,but most developing countries do not have enough radiotherapy machines or suf-ficient numbers of specialized doctors and other health professionals". Duringfirst year of operation, PACT undertook to build cancer treatment capacity inseven member states, using the IAEA's share of the 2005 Nobel Peace PrizeAward.

ElBaradei and IAEA were announced as joint recipients of the Nobel PeacePrize for their "efforts to prevent nuclear energy from being used for military pur-poses and to ensure that nuclear energy, for peaceful purposes, is used in thesafest possible way". ElBaradei donated all his winnings to building orphanagesin his home city of Cairo.

He also received honorary doctoral degrees from sixteen Universities aroundthe globe.

At the end of his third term as Director General in IAEA, his life took anotherturn, he returned to Egypt, his homeland, facing acute political turmoil, andbecome voice of people. He started advocating the downtrodden people ofEgypt's and became a catalyst. Now he represents those who have stood up fortheir rights forfeited by dictator. He is taking his nation to a transitional stage, toreach their goal of attaining democracy. The only panacea for uprising in MiddleEast and Africa. Such leaders can change the fate of their followers, who are fullyequipped with education, knowledge, human values and potential to face and gothrough all odds.

Indeed ElBaradei is the new Face of Egypt.IFTIKHAR SHAHEEN MIRZA, ISLAMABAD

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) 20,987

Sales (July 10 to Nov 10) 20,375

Production (Nov 10) 3,974

Sales (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) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

BANKING SECTORScheduled bank (Rs in mn)Deposit (December 3,10) 4,824,464

Advances (December 3,10) 3,050,639

Investments (December 3,10) 1,916,917

Spread (October 10) 7.49%

OIL MARKETING CO(000 tons)MS (Jul 10 to Nov 10) 932

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

Fuel Oil (Jul 10 to Nov 10) 3,641

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (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)NICL 3.11 30.14 LOTPTA 16.64 14.85 ANL 11.60 6.55 DSFL 3.14 5.38 NCL 26.08 3.22

Symbol Close ChangeRMPL 2,540.62 120.32

ULEVER 4,423.60 37.95

NESTLE 3,433.34 27.90

BATA 650.10 7.99

IDYM 270.00 7.51

Symbol Close ChangeCOLG 925.03 -34.97LAKST 270.85 -6.9FZTM 415.00 -5AGTL 236.03 -3.72TICL 59.27 -3.11

Plus 219Minus 160Unchanged 14

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Tuesday, February 8, 2011 5

Dhiyan

Rangebound activities are expected to persist until the

next budget while some negative news like delay in IMF

tranche, rise in interest rate and imposition of new taxes

might hurt the market big time. However, a result-based

rally is highly likely in banking sector. Investors better go

for ENGRO and FFC. Market would remain dull today.

Hamad Aslam, Head of Research BMA Capital

Sajid Bhanji, VP Capital Markets Arif Habib Limited

It seems as if market is going to consolidate around 12,500 pointslevel in the short-term. Here, continued foreign buying and positive-ly surprising corporate results could instigate bullish activities whilelaunch of Margin Trading System (MTS) would give sentiments afurther boost. Investors are recommended to take positions in oil andfertiliser stocks at dips. Market would move sideways today.

A TRADE-SICK DAY

Opening 12,415.35

Closing 12,427.36

Change 12.01

% Change 0.10

Turnover (mn) 109.02

Opening 3,791.92

Closing 3,796.34

Change 4.42

% Change 0.12

Turnover (mn) 6.23

Opening 3,791.92

Closing 3,796.34

Change 4.42

% Change 0.12

Turnover (mn) 6.23

Nawaz Ali

KARACHI: Dull activitiesheld Karachi Stock Exchangehostage on the first day of theweek owing to sidelinism inthe absence of positive trig-gers.

Another factor was thenowhere-to-be-found confir-mation regarding the launchof Margin Trading System(MTS).

The benchmark KSE 100-Index up by just 12 points toclose at 12,427 level, KSE30-Index was down by 10points to close at 12,084 fig-ure and KSE All Share index

grew by 11 points to close8,615 mark.

"Local bourse saw a verylackluster day as investorspreferred to stay sidelines inthe absence of any trigger",said Samar Iqbal, equity deal-er at Topline Securities.

The activity remained con-fined to sideboard stocks as40 per cent of total volumewas generated by trade inNICL and LOTPTA alone, headded.

About 131.7 million sharestraded during the day whichis 22.7 million less as com-pared to a turnover of 109million on Friday.

Market started the sessionwith a minor gain of 4 points,thereafter it showed somerangeboundness throughoutthe day moving on both sidesof the index between 12,454points (+ve 39) and 12,391points (-ve 23) as investorsheld their positions in theabsence of triggers.

According to experts,investors were also waitingfor the outcome of a meetingbetween Karachi StockExchange (KSE) generalbody and ChairmanSecurities & ExchangeCommission of Pakistan(SECP). Though, according

to television reports thelaunch of MTS is due by theend of this month butinvestors waited for someconfirmation. Further, twinbomb blasts in the city in theearly hours too plungedinvestors into caution.

Experts say that we mightsee some improved activitiesmoving forward on bettercorporate results of thebluechip companies later dur-ing the week. Pakistan StateOil and MCB Bank are themajor companies that arescheduled to out their resultsthis week.

Nimir Industrial Chemical

was the top traded scrip of theday with 30.14 million sharesfollowed by Lotte Pakistanwith 14.85 million andAzgard Nine with 6.55 mil-lion.

Ahmed Rauf, analyst at JSGlobal Capital said thatNICL grew by 41 per centand emerged as the volumeleader on rumours ofManagement Buyout (MBO)in association with Z MAssociates.

Out of total 393 activeissues 219 took a tour on theupside, 160 saw downsidewhile 14 issues saw refusedto go to either side.

Sidelinism Corners KSE

HONG KONG/SHANGHAI:Hong Kong shares fell onMonday, with losses accelerat-ing into the close as oil compa-nies were hit by easing crudeprices.

Overall turnover remainedsubdued with mainland mar-kets still closed and convictionamong investors low.

The Hang Seng index fell 1.5per cent to 23,553.6, closingbelow a chart resistance leveland failing to hold mild gainsseen at the open. The index hadjumped 1.8 per cent on the lasttrading day before the LunarNew Year holiday.

Hong Kong's benchmarkstock index is up 2.2 per centso far this year, helped largelyby a strong performance in thefirst two weeks of 2011.

That rally stalled in the sec-

ond half of January as a tepidShanghai market and a pull-back in risky emerging marketassets prompted profit-taking.

"Client conviction is low,"said a Hong Kong-based equitytrader at a large US bank.

"Its too high to buy andshorting is not working andthat's keeping volumes low,"said the trader, adding thatthere was talk that inflation inChina in March would reach 6per cent.

Concern over rising con-sumer prices, in particularfood, has hit emerging marketsin Asia this year as fundspulled money from high infla-tion countries such asIndonesia and India, favouringdeveloped markets and NorthAsia instead.

Investors pulled $7 billion

out of emerging market equityfunds in the week of Feb. 4,the biggest outflow in threeyears, data from fund trackerEPFR Global showed, puttinga sizeable dent in the recordinflows seen in this category in2010.

A dip in oil prices followingthe nearly 2 per cent fall in UScrude futures on Fridayweighed on major oil produc-ers, which were the biggestdrag on the Hang Seng index.

CNOOC fell 2.9 per centwhile refiner Sinopec dropped4.2 per cent, easing from amore than two-year high.

Brewers were another casu-alty of rising raw materialcosts, despite efforts by somebeer makers to raise prices topass on some of the burden toconsumers. -Reuters

HK shares slide ascrude fall hits oil cos

TOKYO: Japan's Nikkeiaverage extended gains to hita nine-month high onMonday, helped by a fall inthe US jobless rate, a weakeryen against the dollar andafter generally strongJapanese corporate earningsreports last week.

The unemployment rate inthe world's largest economyfell to a 21-month low inJanuary, bolstering hopes fora sustained recovery andhelping the NasdaqComposite Index reach a 3-year high, although fewerjobs than expected wereadded.

Buying on Monday centredon major exporters' sharesafter the dollar gained againstthe yen on the back ofFriday's jobs data and asmany high-tech companiesposted stronger earnings thanexpected last week.

At 0612 GMT the dollartraded at 82.22 yen, com-pared with 81.58 yen in Asiantrade on Friday.

"The results numbers werestrong, but the real reasonwhy investors were encour-aged was the long-termgrowth prospects presentedby many companies," saidMitsuo Shimizu, deputy gen-eral manager at CosmoSecurities.

B e t t e r - t h a n - e x p e c t e dresults or annual guidancefrom the likes of Sony Corp,Hitachi Ltd and SoftbankCorp lifted their shares onFriday.

"Foreign buying seems tobe continuing. Dependingon how many companies areraising their full-year fore-casts, the Nikkei may riseas high as 11,000 thismonth," said MasanagaKono, chief strategist atAmundi Japan.

The benchmark Nikkeiended up 0.5 per cent or48.52 points at 10,592.04,after earlier hitting10,644.21, its highest levelsince May 6.

The broader Topix added0.5 per cent to 940.43.

With worries over inflationand more tightening meas-ures prompting globalinvestors to shift funds fromemerging markets into devel-oped economies the Nikkeihas gained 3.8 per cent so farin 2011. The Standard &Poor's 500 Index has added4.2 per cent, while Asianstocks outside Japan haveadvanced 0.7 per cent.

Market players said largebuy orders placed by foreigninvestors in the cash marketwere also detected onMonday, a sign of theirrenewed interest in laggardJapanese equities.

"Hopes for more restructur-ing, and firms joining forcesin overcrowded industriesafter last week's mega-merg-er in the steel sector, are alsohelping the mood today," saidHideyuki Ishiguro, a supervi-sor in the investment strategysection of OkasanSecurities.-Reuters

Nikkei hits9-month high

on US data, yen MUMBAI: The BSE Sensexended up 0.2 per cent in chop-py trade on Monday as firmworld equities helped themrecover slightly from lastweek's 2.1 per cent decline,but investors were not con-vinced the strength in the mar-ket was here to stay.

The 30-share BSE indexclosed 0.16 per cent, or 29.04points, higher in choppy tradeto 18,037.19, with 21 of itscomponents advancing.

The index had declined 10.6per cent in January and isdown more than 12 per centyear-to-date.

"There is lack of confidencein the market. People areusing any rise to sell," saidNeeraj Dewan, director ofQuantum Securities.

Foreign funds have pulledout $1.35 billion this yearuntil Feb. 3, on concerns overhigh inflation and as optimismover prospects of a US eco-nomic recovery diverted atten-tion.

"Unless there is any signifi-cant improvement on themacro front, any gains will besold," Dewan said.

Prime Minister ManmohanSingh said on Friday highheadline inflation was begin-ning to pose a serious threat toIndia's high growth plans.

Economic growth in Asia'sthird-largest economy for the2010/11 fiscal year is estimat-

ed to grow at 8.6 per cent, agovernment statement said onMonday.

Cipla shed nearly 3 per centafter the drugmaker reported alarger-than-expected 19.4 percent drop in third-quarter netprofit late on Friday.

"While managementremains upbeat about thegrowth prospects for the com-pany, its time-frame for deliv-ery of returns to shareholdersmay be longer than currentmarket expectations," EmkayGlobal said in a note.

The brokerage downgradedthe stock to "reduce" from"accumulate."

Cigarette-to-hotel businessITC recovered from Friday's4.2 per cent decline and ledthe gains with a 2.6 per centrise.

Energy giant RelianceIndustries, which has the high-est weight on the main index,climbed 1.1 per cent. It haddeclined 2.5 per cent onFriday.

Explorer Cairn India rose 1per cent after the Indian oilsecretary said on Sunday hewas hopeful of finding a "pos-itive solution" to VedantaResources' deal to buy a con-trolling stake in the unit ofCairn Energy.

In the broader market, loserswere 1.5 times the number ofgainers in a low volume of268 million shares.-Reuters

Indian shares up;sentiments shaky

MinerspropelFTSE

higherLONDON: Miners liftedBritain's top share index higheron Monday, driven by recordmetal prices and results fromRandgold.

The FTSE 100 closed 53.65points, or 0.9 per cent, firmer at6,051.03, its highest finish Jan.18 and marking the fourth gainin the past five trading days.

"A fresh year high is beingeyed with worries over theimpact euro zone debt problemsand the political troubles in theMiddle East fading," CMCMarkets head of equities JimmyYates said. "It will be interestingto see if traders have the mettleto see it through that level(6,090.49) and hold onto gains."

Nicole Elliott, a technicalanalyst at Mizuho CorporateBank, said the index was not farshort of substantial resistancelevels, with January's high ataround 6,090 and the 2006 highof 6,137 both being watched.

Miners added most points tothe index, spurred by recordcopper prices and boosted byupbeat corporate results.

Randgold Resources, up 2.6per cent, posted a 43 per centjump in profit and raised itsdividend 18 per cent.

Xstrata, set to report onTuesday, gained 3.6 per cent,helped by bullish commentfrom Citigroup and Nomura.Rio Tinto, which reports later inthe week, was up 2.9 per cent.

Energy stocks climbed asappetite for riskier assetsstrengthened among investors,with BG Group 0.8 per centhigher ahead of results due onTuesday.

Can maker Rexam firmed 3.4per cent. The company hasappointed Barclays Capital tosell its beverage and specialtiesarm in a deal that could beworth 200 million pounds($322 million), the Mail onSunday reported.-Reuters

Singapore, Indonesia end off two-week highs

Middle East stocks

European shares hit highestclose since Sept 2008

ANNOUNCEMENTS

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

Engro Polymer (Consolidated) Yearly - -770.28 -1.22

Engro Polymer Yearly - -813.83 -1.29

Pak.Int.Con.(Consolidated) Half Yearly - 579.94 5.23

Pak.Int.Con. Half Yearly - 576.11 5.20

Habib-ADM Ltd. Half Yearly - 33.00 0.82

US stocks late-morning

Wall Streetrises, hasforce to

go higherNEW YORK: US stocks roseon Monday, lifted by mergernews and solid earnings thatsuggested Wall Street may havethe strength to rally further.

The S&P 500 moved above akey short-term resistance levelto its highest since June 2008after the index ended the weekwith its best gain in nine weeks.

"It's the absence of headlinerisks that is pushing the markethigher. We clearly know thatthe Egyptian turmoil doesn'tnecessarily mean oil scarcity ...so momentum is moving themarket higher," said JoeBattipaglia, market strategist ata private client group for StifelNicolaus in Philadelphia.

Dow Jones industrial averagewas up 82.88 points, or 0.69 percent, at 12,175.03. The Standard& Poor's 500 Index was up 10.15points, or 0.77 per cent, at1,321.02. The Nasdaq CompositeIndex was up 20.40 points, or0.74 per cent, at 2,789.70.

Diversified industrial compa-ny Danaher Corp agreed to buymedical diagnostics companyBeckman Coulter Inc for about$6.8 billion and oil drillingcompany EnsCo Plc will buyrival Pride International Inc forabout $7.3 billion.

The deals provided the latestindication stock valuations areconsidered attractive. DanaherCorp rose 3.8 per cent to $49.79and Beckman Coulter rose 9.8per cent to $82.53. EnsCo fell2.8 per cent to $52.95 whilePride International rose 16.9per cent to $40.19.

Loews Corp reported its bestquarter of the year, posting abetter-than-expected 16 percent jump in profit. The stockgained 5.7 per cent to $43.78.

More than 70 per cent of S&P500 companies that havereported results so far postedbetter-than-expected earnings,according to Thomson Reutersdata. Investors expect aggre-gate earnings rose 37 per centin the last quarter, the highestestimate for that period in morethan 10 months.

Adding to Wall Street's imageproblem, Nasdaq OMX Groupsaid on Saturday that computerhackers had infiltrated the oper-ator of the Nasdaq StockExchange.-Reuters

Tuesday, February 8, 20116

Volume 109,024,853

Value 2,593,079,700

Trades 53,402

Advanced 219

Declined 160

Unchanged 14

Total 393

Current 8,615.52

High 8,633.57

Low 8,593.01

Change h11.59

Current 12,427.36

High 12,454.68

Low 12,391.74

Change h12.01

Current 12,084.39

High 12,130.66

Low 12,066.77

Change i10.97

Market KSE 100 Index All Share Index KSE 30 Index

Current 20,095.36

High 20,144.29

Low 20,030.88

Change h32.76

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Sitara Energy Limited

SEL closed down -0.01 at 17.02. Volume was 2,547 per cent above

average (trending) and Bollinger Bands were 44 per cent wider than

normal. The company's profit after taxation stood at Rs25.571 million

which translates into an Earning Per Share of Rs1.34 for the 1st quar-

ter of current fiscal year (1QFY11).

SEL is currently 18.0 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely low when compared

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

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

forecasting oscillators are currently bearish on SEL. Momentum oscilla-

tor is currently indicating that SEL is currently in an oversold condition.

RSI (14-day) 26.81 Total Assets (Rs in mn) 3,547.15

MA (10-day) 17.63 Total Equity (Rs in mn) 1,183.42

MA (100-day) 19.49 Revenue (Rs in mn) 3,875.48

MA (200-day) 20.73 Interest Expense 303.74

1st Support 16.91 Profit after Taxation 107.20

2nd Support 16.86 EPS 10 (Rs) 5.615

1st Resistance 17.10 Book value / share (Rs) 61.99

2nd Resistance 17.24 PE 11 E (x) 3.18

Pivot 17.05 PBV (x) 0.27

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

PIAA closed up 0.30 at 2.77. Volume was 958 per cent above average

(trending) and Bollinger Bands were 47 per cent wider than normal. The

company's loss after taxation stood at Rs11.693 billion which translates

into a Loss Per Share of Rs4.79 for the nine months of current calen-

dar year (9MCY10).

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

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

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

indicators reflect moderate flows of volume into PIAA (mildly bullish).

Trend forecasting oscillators are currently bullish on PIAA.

RSI (14-day) 66.64 Total Assets (Rs in mn) 160,013.18

MA (10-day) 2.44 Total Equity (Rs in mn) (20,772.84)

MA (100-day) 2.29 Revenue (Rs in mn) 94,563.77

MA (200-day) 2.45 Interest Expense 9,243.77

1st Support 2.56 Loss after Taxation (5,822.43)

2nd Support 2.33 EPS 09 (Rs) (2.72)

1st Resistance 2.93 Book value / share (Rs) (8.92)

2nd Resistance 3.07 PE 10 E (x) -

Pivot 2.70 PBV (x) (0.31)

Pakistan Int. Airline Corp Ltd

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

GHNL closed up 0.08 at 4.51. Volume was 315 per cent above average

(trending) and Bollinger Bands were 19 per cent narrower than normal.

The company's profit after taxation stood at Rs16.028 million which

translates into an Earning Per Share of Rs0.36 for the 1st quarter of

current fiscal year (1QFY11).

GHNL is currently 15.5 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely low when compared to

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

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

Trend forecasting oscillators are currently bearish on GHNL.

RSI (14-day) 39.81 Total Assets (Rs in mn) 3,360.48

MA (10-day) 4.68 Total Equity (Rs in mn) 633.20

MA (100-day) 4.75 Revenue (Rs in mn) 2,402.62

MA (200-day) 5.34 Interest Expense 147.33

1st Support 4.45 Loss after Taxation (88.89)

2nd Support 4.35 EPS 10 (Rs) (1.975)

1st Resistance 4.65 Book value / share (Rs) 14.07

2nd Resistance 4.75 PE 11 E (x) 3.13

Pivot 4.55 PBV (x) 0.32

Ghandhara Nissan Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

DSFL closed up 0.22 at 3.14. Volume was 101 per cent above average andBollinger Bands were 38 per cent narrower than normal. The company'sloss after taxation stood at Rs246.014 million which translates into a LossPer Share of Rs0.67 for the 1st quarter of current fiscal year (1QFY11).DSFL is currently 55.7 per cent above its 200-day moving average andis displaying a downward trend. Volatility is relatively normal when com-pared to the average volatility over the last 10 trading sessions. Volumeindicators reflect volume flowing into and out of DSFL at a relativelyequal pace. Trend forecasting oscillators are currently bearish on DSFL.

RSI (14-day) 56.53 Total Assets (Rs in mn) 15,343.38

MA (10-day) 2.92 Total Equity (Rs in mn) (7,218.97)

MA (100-day) 2.25 Revenue (Rs in mn) 137.50

MA (200-day) 2.02 Interest Expense 125.73

1st Support 2.91 Loss after Taxation (1,529.67)

2nd Support 2.74 EPS 10 (Rs) (4.176)

1st Resistance 3.27 Book value / share (Rs) (19.71)

2nd Resistance 3.46 PE 11 E (x) -

Pivot 3.10 PBV (x) (0.16)

Dewan Salman Fibre Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,582.88 1,590.10 1,574.59 1,583.28 0.40 0.03

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

3,918,465 - - 65,194.15 mn 1,219,604.38 mn 1,583.28

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

11.54 3.75 32.54 55.94 4.85 1,564.72

Attock Petroleum 691 7.02 387.43 391.50 387.00 388.46 1.03 160650 401.00 301.00 300 20B115.00 -

Attock Refinery 853 5.05 121.05 124.48 121.25 123.98 2.93 1506429 146.90 115.25 - - - -

BYCO Petroleum 3921 - 10.11 10.28 9.93 10.01 -0.10 1017061 12.49 9.80 - - - -

Mari Gas Company 735 17.55 129.56 130.75 129.00 129.55 -0.01 9726 141.65 117.00 31 - - -

National Refinery 800 6.01 283.58 291.99 283.60 290.04 6.46 505655 335.00 239.00 200 - - -

Oil & Gas Development 43009 11.67 172.70 172.97 172.16 172.55 -0.15 33233 185.00 157.00 55 - 15.00 -

Pak Petroleum 11950 7.84 215.18 215.90 213.70 214.41 -0.77 229883 229.80 190.50 90 20B 50.00 -

Pak Oilfields 2365 7.63 331.78 332.50 328.35 331.14 -0.64 899750 341.50 249.25 255 -100.00 -

Pak Refinery Limited 350 - 97.98 102.87 95.01 102.25 4.27 157993 122.22 80.61 - - - -

P.S.O 1715 4.92 289.31 291.80 287.60 290.70 1.39 401872 317.79 277.52 80 - - -

Shell Pakistan 685 11.00 215.11 218.00 213.25 214.59 -0.52 13273 222.00 194.00 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

990.01 999.84 984.28 992.20 2.19 0.22

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

11,702,386 - - 47,070.70 mn 140,070.90 mn 992.20

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

7.51 0.65 8.64 16.68 2.22 984.41

(Colony) Thal 56 - 1.31 1.36 1.25 1.33 0.02 1997 1.50 0.56 - - - -

Amtex Limited 2594 8.66 3.76 3.86 3.76 3.81 0.05 91279 5.28 3.65 30 - - -

Artistic Denim 840 6.25 22.05 22.50 22.01 22.50 0.45 561 24.59 19.10 20 - - -

Azgard Nine 4493 - 11.28 11.81 11.40 11.60 0.32 6551755 12.84 9.20 - - - -

Babri Cotton 33 0.46 10.95 11.50 10.01 11.25 0.30 1012 16.00 8.10 - 15B - -

Bannu Woolen XD 76 0.48 13.76 14.00 13.40 13.71 -0.05 3667 15.10 12.30 20 - - -

Bata (Pak) 76 5.39 642.11 670.15 621.00 650.10 7.99 590 747.48 580.00 - - - -

Chenab Limited 1150 - 2.86 2.99 2.82 2.98 0.12 10004 3.90 2.82 - - - -

Colgate Palm 316 29.42 960.00 925.05 925.00 925.03-34.97 110 1020.00 837.00 - - - -

Colony Mills Ltd 2442 3.83 2.49 2.50 2.11 2.45 -0.04 50808 2.97 2.11 - - - -

Crescent Textile 492 3.29 17.10 17.99 17.00 17.11 0.01 13985 23.99 16.86 15 - - -

D M Textile 31 - 2.90 2.80 2.80 2.80 -0.10 2500 3.00 1.45 - - - -

D S Ind Ltd 600 - 1.72 1.87 1.55 1.83 0.11 46739 2.10 1.55 - - - -

Dar-es-Salaam 80 - 1.20 2.20 2.20 2.20 1.00 1000 4.38 1.20 - - - -

Dawood Lawrencepur 514 41.76 35.59 36.80 35.50 35.50 -0.09 6010 47.00 35.05 5 - - -

Dewan Farooque Spin. 600 2.76 3.97 3.42 3.40 3.42 -0.55 1000 8.00 3.10 - - - -

Gadoon Textile XD 234 0.81 70.51 74.03 72.01 74.03 3.52 11996 74.03 45.50 70 - - -

Ghazi Fabrics 326 0.74 3.90 4.50 4.50 4.50 0.60 200 5.05 2.80 10 - - -

Gulistan Spinning 146 1.17 5.96 6.89 5.82 6.12 0.16 11139 8.86 5.26 10 - - -

Gulshan Spinning 222 0.93 7.10 7.74 7.02 7.68 0.58 4479 8.50 6.30 10 20B - -

Hira Textile Mills Ltd 716 0.74 3.99 4.00 3.90 3.95 -0.04 160074 4.47 3.31 10 - - -

Ibrahim Fibres 3105 4.22 53.75 54.22 53.72 53.74 -0.01 2802 55.00 36.00 20 - - -

Idrees Textile 180 3.91 3.60 3.60 3.60 3.60 0.00 2000 3.90 2.70 10 - - -

Ishaq Textile 97 1.35 8.00 8.00 7.50 7.50 -0.50 210 8.70 4.99 8 - - -

Janana D Mal 43 0.23 14.99 14.50 13.99 14.26 -0.73 765 18.00 13.25 - - - -

Khalid Siraj 107 - 0.74 0.84 0.50 0.81 0.07 201 1.25 0.25 - - - -

Kohinoor Ind 303 - 1.50 1.54 1.43 1.50 0.00 936 2.00 0.75 - - - -

Kohinoor Spinning 1300 0.37 1.40 1.14 0.97 1.03 -0.37 205 1.81 0.16 5 - - -

Kohinoor Textile 1455 3.69 5.01 5.22 4.95 5.17 0.16 9565 5.97 4.81 - - - -

Moonlite (PAK) 22 - 14.29 15.29 14.45 14.82 0.53 12002 15.29 4.50 - - - -

Nishat (Chunian) 1614 2.17 25.79 26.58 25.81 26.08 0.29 3218575 26.58 21.15 15 - - -

Nishat Mills 3516 5.73 66.87 67.29 66.60 66.81 -0.06 953756 71.89 52.80 25 45R - -

Pak Synthetic 560 4.75 13.50 14.36 13.45 14.06 0.56 209122 14.36 6.21 - - - -

Paramount Spinning 174 0.91 11.50 12.40 11.99 12.40 0.90 8612 12.40 8.00 10 10B - -

Ravi Textile 250 - 1.35 1.40 1.30 1.35 0.00 47561 1.98 0.65 - - - -

Reliance Cotton 103 0.70 41.00 43.00 40.00 40.00 -1.00 1352 43.30 31.35 20 - - -

Reliance Weaving 308 0.66 9.27 9.50 9.31 9.50 0.23 1009 10.34 8.50 25SD - - -

Rupali Poly 341 5.06 38.39 40.30 38.00 40.30 1.91 62945 40.30 31.25 40 - - -

Saif Textile 264 0.45 5.49 5.59 5.50 5.56 0.07 7005 6.85 3.90 - - - -

Salman Noman 42 2.12 4.90 5.00 5.00 5.00 0.10 500 6.35 2.01 - 5B - -

Samin Textile 267 4.83 6.49 6.88 5.70 5.80 -0.69 703 7.00 5.11 - 100R - -

Sana Ind 55 3.24 43.50 43.50 42.30 42.65 -0.85 864 49.66 31.56 60 - - -

Service Ind 120 7.66 221.57 225.44 221.90 223.70 2.13 169 276.50 180.11 - - - -

Shadman Cot 176 2.68 13.70 14.70 14.70 14.70 1.00 2203 15.25 7.00 - - - -

Shahzad Textile 180 0.36 7.00 6.00 6.00 6.00 -1.00 2000 7.05 4.01 5 - - -

Suraj Cotton 180 0.85 39.50 39.10 38.00 38.00 -1.50 2896 41.95 32.25 50 - - -

Tata Textile 173 0.39 40.50 41.20 40.00 40.01 -0.49 151 41.20 23.50 25 - - -

Thal Limited 307 5.17 121.53 122.00 120.00 120.93 -0.60 3996 132.00 95.10 80 20B - -

Treet Corp 418 9.24 57.68 59.90 57.32 58.05 0.37 164916 63.30 50.50 - - - -

Tri-Star Poly 215 - 0.53 0.85 0.52 0.85 0.32 461 1.49 0.43 - - - -

ZahidJee Textile 341 0.43 2.74 3.50 3.25 3.27 0.53 2468 4.88 2.74 - - - -

Zephyr Textile Ltd 594 4.47 3.98 3.51 3.40 3.40 -0.58 10001 4.65 3.01 - - - -

Zil Limited 53 4.45 63.32 66.48 66.48 66.48 3.16 1336 66.48 42.30 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

1,112.44 1,134.57 1,101.77 1,110.02 -2.42 -0.22

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

47,324 - - 3,763.71 mn 5,286.64 mn 1,112.44

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

3.20 0.34 10.64 6.27 1.96 1,098.52

Hussain Industries 106 - 6.88 6.50 6.01 6.12 -0.76 182 11.49 4.60 - - - -

Pak Elektron 1219 3.53 14.18 14.49 14.00 14.01 -0.17 17581 15.88 13.20 - 10B - -

Singer Pak 341 23.60 20.00 21.00 20.50 21.00 1.00 9510 21.00 17.55 - - - -

Tariq Glass Ind 231 2.67 22.30 22.60 22.10 22.36 0.06 19929 24.00 15.90 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,819.97 1,859.27 1,782.08 1,833.47 13.50 0.74

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

383,951 - - 11,335.33 mn 275,970.42 mn 1,833.47

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

46.41 14.06 30.30 30.57 0.66 1,809.74

AL-Noor Sugar XD 186 1.02 42.99 42.30 40.85 40.93 -2.06 10821 54.00 40.85 50 - - -

Chashma Sugar XD 287 3.71 9.40 9.49 9.00 9.49 0.09 501 15.47 8.70 10 - - -

Colony Sugar Mills 990 7.93 2.60 3.17 2.52 3.17 0.57 5054 5.70 2.50 - - - -

Dewan Sugar 365 - 2.79 3.25 2.70 2.91 0.12 52044 5.59 1.60 - - - -

Habib Sugar 750 9.24 22.23 23.34 22.00 23.29 1.06 204210 36.50 21.35 25 25B - -

Habib-ADM Ltd 200 7.50 12.30 12.40 12.00 12.30 0.00 2621 13.00 11.50 40 - - -

J D W Sugar 539 1.29 69.25 72.71 69.00 72.71 3.46 17720 92.50 68.00 7010B 12.5R - -

Mehran SugarXDXB 157 1.83 55.06 56.00 55.25 56.00 0.94 4510 68.49 52.60 35 20B 7.50 -

Mirpurkhas Sugar 84 3.28 50.69 52.50 48.16 52.50 1.81 201 68.22 44.13 15 20B - -

Mirza Sugar XD 141 - 4.63 4.60 4.20 4.60 -0.03 2110 7.18 4.01 10 - - -

National Foods 414 21.23 56.00 57.00 54.80 56.90 0.90 3558 75.50 41.52 12 - - -

Nestle Pakistan 453 37.71 3405.44 3500.00 3335.00 3433.34 27.90 304 3570.00 1830.00 450 - - -

Noon Pakistan 48 3.36 23.36 24.40 23.50 23.50 0.14 461 27.30 18.00 12 - - -

Noon Sugar 165 1.18 10.25 11.00 10.90 10.97 0.72 4410 14.84 9.00 - - - -

Pangrio Sugar XD 109 - 4.05 4.89 3.10 3.69 -0.36 30751 6.99 3.10 10 - - -

Premier Sugar XD 38 - 41.53 41.98 39.46 41.98 0.45 2001 53.81 36.76 10 - - -

Quice Food 107 7.50 3.30 3.50 3.30 3.30 0.00 14000 3.70 2.02 - - - -

Rafhan Maize 92 4.03 2420.30 2541.31 2300.00 2540.62 120.32 666 2541.31 1800.00 600 - - -

S S Oil 57 0.25 2.90 2.90 2.90 2.90 0.00 500 3.85 2.50 - - - -

Sanghar Sugar XD 119 2.25 12.01 12.30 12.00 12.25 0.24 3010 15.01 11.35 15 - - -

Shahmurad Sugar XD 211 3.14 9.50 9.89 8.80 9.16 -0.34 20658 13.50 8.80 10 - - -

Shahtaj Sugar 120 3.43 53.53 51.16 51.16 51.16 -2.37 289 100.26 51.16 - - - -

Shakarganj Mills 695 0.36 4.81 5.55 5.05 5.06 0.25 129 7.88 4.06 - - - -

Tandlianwala 1177 364.55 41.00 40.50 40.10 40.10 -0.90 1454 42.52 30.00 - - - -

Wazir Ali 80 - 7.01 7.95 7.75 7.90 0.89 1800 8.95 5.50 - - - -

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

1,271.70 1,289.03 1,269.34 1,280.19 8.49 0.67

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

481,847 - - 6,768.53 mn 47,326.82 mn 1,280.19

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

4.74 1.20 25.35 20.42 4.30 1,267.82

Atlas Battery 101 5.93 198.76 202.80 198.70 198.70 -0.06 924 205.00 155.25 100 20B - -

Atlas Engineering Ltd 247 35.38 37.78 39.66 35.90 39.62 1.84 25504 41.30 15.00 - - - -

Atlas Honda 626 9.41 135.00 137.00 133.15 135.50 0.50 605 143.80 96.00 - - - -

Dewan Motors 890 - 2.11 2.32 2.05 2.19 0.08 259901 2.89 1.20 - - - -

General Tyre 598 20.70 23.97 24.50 23.99 24.01 0.04 1555 26.74 21.00 20 - - -

Ghandhara Nissan 450 3.13 4.43 4.65 4.45 4.51 0.08 131703 5.48 4.41 - - - -

Honda Atlas Cars 1428 - 10.88 11.35 10.75 11.20 0.32 35775 13.40 10.60 - - - -

Indus Motors 786 6.67 290.00 293.00 290.00 292.00 2.00 2500 309.73 231.00 150 - - -

Pak Suzuki 823 10.49 65.39 66.45 65.50 65.90 0.51 3308 77.90 63.30 - - - -

Sazgar Engineering 150 4.32 23.35 24.00 23.11 23.13 -0.22 19338 24.00 18.70 10 20B - -

Transmission 117 - 2.00 1.99 1.60 1.60 -0.40 681 2.45 1.31 - - - -

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

1,597.08 1,613.60 1,590.94 1,596.58 -0.50 -0.03

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

187,212 - - 1,336.62 mn 34,423.02 mn 1,597.08

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

8.31 3.16 38.02 131.49 15.82 1,556.23

AL-Ghazi Tractor 215 5.65 239.75 240.00 235.02 236.03 -3.72 4815 244.95 205.10 150 - - -

Dewan Auto Engineering 214 - 1.33 1.43 1.20 1.20 -0.13 67404 2.40 0.21 - - - -

Ghandhara Ind 213 10.58 11.34 11.90 10.52 11.43 0.09 45130 13.50 10.52 - - - -

KSB Pumps 132 7.31 61.26 62.75 60.00 61.00 -0.26 2473 72.55 58.55 - - - -

Millat Tractors XB 366 8.49 551.40 556.97 549.97 551.30 -0.10 67370 568.40 480.00 650 25B325.00 -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

1,013.42 1,022.24 1,008.74 1,010.46 -2.96 -0.29

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

156,040 - - 3,043.31 mn 37,957.11 mn 1,027.70

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

1.91 0.84 43.91 15.55 8.12 1,008.98

Cherat Papersack 115 2.52 72.76 73.45 70.60 70.88 -1.88 31857 83.23 52.00 20 25B - -

ECOPACK Ltd 230 - 2.53 2.69 2.51 2.52 -0.01 3503 3.30 1.82 - - - -

Ghani Glass 1067 4.83 52.55 52.60 52.50 52.56 0.01 4000 56.45 45.30 25 10B - -

MACPAC Films 389 - 3.24 3.50 3.15 3.35 0.11 9408 4.05 2.40 - - - -

Merit Pack 47 17.71 32.11 33.71 31.50 31.87 -0.24 70928 33.71 17.10 - - - -

Packages Ltd 844 65.43 128.03 130.49 127.50 127.59 -0.44 9628 143.00 103.52 - - - -

Tri-Pack Films 300 9.63 132.77 133.00 131.15 132.03 -0.74 26716 144.50 102.51 - - - -

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

944.70 955.58 931.93 941.61 -3.09 -0.33

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

2,363,588 - - 54,792.74 mn 65,766.52 mn 944.70

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

7.35 0.52 7.10 19.04 2.59 927.39

Al-Abbas Cement 1828 - 2.94 3.15 2.91 3.04 0.10 71207 3.98 2.75 - 100R - -

Attock Cement 866 6.54 52.00 52.75 51.50 51.63 -0.37 132891 65.99 51.50 50 - - -

Balochistan Glass Ltd 858 - 2.66 2.80 2.30 2.36 -0.30 6750 4.24 1.10 - - - -

Cherat Cement 956 22.86 10.40 10.25 9.71 10.06 -0.34 25200 12.75 9.71 - - - -

Dadabhoy Cement 982 13.31 1.68 2.00 1.65 1.73 0.05 739 2.49 1.50 - - - -

Dadex Eternit 108 - 22.00 21.00 20.90 20.90 -1.10 260 25.75 18.51 - - - -

Dandot Cement 948 - 2.06 2.60 1.70 2.00 -0.06 10002 3.49 1.50 - - - -

Dewan Cement 3891 - 1.90 2.24 1.86 2.11 0.21 427179 3.10 1.48 - - - -

DG Khan Cement Ltd 3651 122.00 29.18 29.50 29.10 29.28 0.10 272214 32.30 27.67 - 20R - -

Fauji Cement 6933 6.38 4.63 4.77 4.56 4.59 -0.04 543499 5.55 4.56 - - - 92R

Flying Cement Ltd 1760 - 1.70 1.87 1.65 1.65 -0.05 69210 2.25 1.60 - - - -

Frontier Ceramics 77 - 1.86 2.18 1.75 2.18 0.32 22834 3.01 1.18 - - - -

Gharibwal Cement 2319 - 6.98 6.50 5.98 5.99 -0.99 1774 9.19 3.06 - - - -

Haydery Const 32 - 0.48 0.66 0.50 0.66 0.18 2001 0.99 0.25 - - - -

Javedan Cement 581 - 61.45 64.52 60.00 60.09 -1.36 1662 64.52 56.05 - - - -

Kohat Cement 1288 - 6.30 6.30 6.25 6.26 -0.04 19454 8.70 6.00 - - - -

Lafarge Pakistan Cmt. 13126 - 3.26 3.30 3.20 3.27 0.01 566061 3.88 2.95 - - - -

Lucky Cement 3234 6.44 71.40 71.75 71.10 71.66 0.26 117413 79.98 69.35 40 - - -

Maple Leaf Cement 5261 1.23 2.63 2.70 2.57 2.65 0.02 60937 3.30 2.56 - - - -

Pioneer Cement 2228 - 6.90 6.96 6.51 6.56 -0.34 7776 8.20 6.51 - - - -

Safe Mix Concrete 200 - 6.81 6.94 6.50 6.94 0.13 2032 7.95 5.25 - - - -

Shabbir Tiles 361 - 8.76 8.60 8.10 8.33 -0.43 502 9.60 7.37 - - - -

Thatta Cement 798 454.25 18.20 18.19 18.15 18.17 -0.03 4010 20.44 16.75 - 50R - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,034.93 1,053.25 1,025.00 1,034.29 -0.64 -0.06

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

103,312 - - 3,596.11 mn 9,951.48 mn 1,037.55

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

3.48 1.15 33.10 30.91 8.88 1,026.60

Crescent Steel 565 3.04 29.55 29.49 29.00 29.10 -0.45 26631 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.55 2.95 2.43 2.59 0.04 11365 3.29 2.43 - - - -

Huffaz Pipe 555 8.73 14.41 14.50 13.81 13.97 -0.44 10100 16.51 13.81 - - - -

International Ind 1199 18.91 51.51 52.89 51.60 52.00 0.49 40763 62.20 44.53 55 20B - -

Siddiqsons Tin 785 10.23 9.00 9.00 8.89 9.00 0.00 14451 10.70 8.51 7.5 - - -

Paid up Last 60 days 2010 2011

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,058.58 1,070.81 1,053.76 1,053.91 -4.67 -0.44

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

3,173 - - 1,186.83 mn 2,921.96 mn 1,059.35

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

5.45 0.41 7.47 25.28 4.64 1,033.26

Century Paper 707 - 16.05 16.44 16.10 16.10 0.05 3000 19.69 14.95 - - - -

Security Paper 411 6.76 38.40 38.38 37.82 37.83 -0.57 172 47.70 37.70 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

1,604.98 1,619.27 1,597.89 1,607.80 2.82 0.18

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

56,717,462 - - 52,251.88 mn 355,316.10 mn 1,607.80

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

9.86 3.45 35.00 48.81 4.95 1,566.27

Agritech Limited 3924 8.77 24.22 24.50 24.02 24.20 -0.02 151 26.73 20.26 - - - -

BOC (Pak) 250 13.12 94.43 97.95 94.00 95.52 1.09 1123 103.94 75.02 15 - - -

Clariant Pak 273 7.23 200.64 203.75 200.01 201.98 1.34 41448 213.30 151.55 135 25B - -

Dawood Hercules 1203 8.51 205.98 207.00 205.00 205.32 -0.66 7535 215.00 165.73 40 - - -

Descon Chemical 1996 - 2.84 3.50 2.98 3.48 0.64 1630314 3.74 2.20 - - - -

Descon Oxychem Ltd. 1020 - 7.01 7.90 7.15 7.74 0.73 698163 9.25 5.80 - - - -

Dewan Salman 3663 - 2.92 3.29 2.93 3.14 0.22 5375751 4.24 1.52 - - - -

Dynea Pak 94 - 11.00 11.50 10.95 11.07 0.07 1500 13.79 9.15 15 - - -

Engro Corporation Ltd 3277 12.07 221.05 221.35 218.75 219.65 -1.40 595904 222.80 177.80 40 - - -

Engro Polymer 6635 - 13.01 13.27 12.59 13.05 0.04 1959603 15.87 12.51 - - - -

Fatima Fertilizer 22000 - 11.98 12.15 11.97 12.11 0.13 436165 12.64 9.16 - - - -

Fauji Fertilizer 6785 9.27 150.38 151.50 150.20 150.68 0.30 700865 157.90 108.00 130 25B - -

Fauji Fert.Bin Qasim 9341 7.82 41.36 41.60 41.25 41.46 0.10 1380545 43.99 32.20 52.5 - - -

Ghani Gases Ltd 725 8.80 11.55 11.70 11.55 11.62 0.07 4151 13.07 11.00 - - - -

ICI Pakistan 1388 8.29 145.78 148.69 145.00 147.16 1.38 853732 158.49 132.00 55 - - -

Lotte Pakistan 15142 6.12 16.38 16.80 16.39 16.64 0.26 14854605 16.80 11.50 5 - - -

Nimir Ind Chemical 1106 - 2.21 3.17 2.28 3.11 0.90 30141045 3.17 1.40 - - - -

Pak Gum 42 - 22.85 21.75 21.71 21.71 -1.14 178 28.20 17.01 - - - -

Shaffi Chemical 120 - 2.40 2.30 2.12 2.17 -0.23 35374 3.10 2.03 - - - -

Sitara Chem Ind 214 9.18 112.56 117.00 110.00 112.00 -0.56 1002 139.40 104.50 25 5B - -

Sitara Peroxide 551 14.72 13.19 13.65 13.10 13.54 0.35 64623 14.69 12.70 - - - -

United Distributors 92 - 14.39 14.24 14.24 14.24 -0.15 110 14.99 8.51 - - - -

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

905.71 919.23 903.99 910.26 4.55 0.50

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

24,811 - - 3,904.20 mn 30,549.94 mn 913.62

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

6.77 1.51 22.31 44.54 6.58 903.11

Abbott (Lab) 979 8.48 95.31 96.70 95.01 96.70 1.39 1963 112.50 94.00 20 - - -

Ferozsons (Lab) 250 6.65 89.00 88.50 88.00 88.01 -0.99 1001 94.90 82.20 - 20B - -

GlaxoSmithKline 1707 13.85 76.24 77.90 76.80 77.00 0.76 6221 89.98 69.63 - - - -

Highnoon (Lab) 165 7.42 28.00 27.50 26.60 26.80 -1.20 5634 30.48 24.15 - - - -

IBL HealthCare Ltd 200 7.46 9.30 9.39 8.75 9.25 -0.05 212 9.99 7.16 - - - -

Sanofi-Aventis 96 12.47 153.50 158.50 153.00 156.69 3.19 8972 164.99 116.00 - - - -

Searle Pak 306 5.42 60.54 61.79 60.20 60.25 -0.29 808 69.00 58.70 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

717.52 745.71 712.26 736.92 19.39 2.70

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

830,003 - - 3,242.17 mn 12,774.29 mn 736.92

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

5.50 1.40 25.53 11.08 2.01 713.47

Pak Int Cont.Terminal 1092 6.96 69.97 73.46 69.51 72.36 2.39 829952 76.65 68.00 40 - - -

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

United Distributors # 08-Feb 14-Feb - - 14-Feb (TFC) Saudi Pak Leasing 10-Feb - - - -Dewan Farooque Motors # 14-Feb 21-Feb - - 21-Feb(TFC) Allied Bank 14-Feb 27-Feb - - -(TFC) Pakarab Fertilizers 15-Feb 28-Feb - - -Int. Ind (Consolidated) 16-Feb 24-Feb 15 (I) 08-Feb -KASB Cash Fund 16-Feb - - - -Kohinoor Mills # 17-Feb 24-Feb - - 24-Feb Ideal Energy # 18-Feb 26-Feb - - 26-FebOlympia Spng & Weaving Mills # 18-Feb 26-Feb - - 26-FebMillat Tractors 18-Feb 24-Feb 325 (I) 09-Feb -Shadman Cotton Mills 19-Feb 26-Feb 5 10-Feb 26-FebReliance Cotton Spng Mills # 19-Feb 26-Feb - - 26-Feb Mehran Sugar Mills 21-Feb 28-Feb 7.5 (I) 10-Feb -Frontier Ceramics 21-Feb 28-Feb - - 28-FebInt. Industries # - - - - 24-Feb Pakistan Oilfields 22-Feb 01-Mar 100 (I) 11-Feb -Attock Petroleum 24-Feb 04-Mar 115 (I) 15-Feb -(TFC) Searle Pakistan 24-Feb 09-Mar - - -

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 55.8 54.15 54.15 54.15 -1.65 250

TRG Pakistan Ltd. 3.32 3.42 3.26 3.29 -0.03 543730

Murree Brewery Co. 95.95 97.5 94.03 95.1 -0.85 3967

Shakarganj Food 1.19 1.03 1 1.01 -0.18 9000

Shezan International 198.05 207 192 203.05 5 29515

Grays of Cambridge 48.5 49 47 49 0.5 629

Shifa Int.Hospitals 31.03 31.25 31.25 31.25 0.22 500

Eye Television 20.19 20.49 19.36 20.35 0.16 18536

Media Times LtdXR 15.69 16.3 14.9 15.88 0.19 5048

P.I.A.C.(A) 2.47 2.84 2.47 2.77 0.3 2059807

AKD Capital Limited 44.55 46.34 45 45 0.45 301

Pace (Pak) Ltd. 3.02 3.29 3 3.25 0.23 1601416

Netsol Technologies 27.02 28.2 26.75 26.92 -0.1 2084741

Symbols Open High Low Close Change Vol

Tuesday, February 8, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 12.01 points at 12,427.36. Volume was 42 per

cent below average and Bollinger Bands were 39 per cent narrower than

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

resistance level at 12,457.45 and 2nd resistance level at 12,487.55, while

Index will continue to find its 1st support level at 12,394.50 and 2nd sup-

port level at 12,361.65.

KSE 100 INDEX is currently 17.5 per cent above its 200-day moving

average and is displaying a downward trend. Volatility is extremely low

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

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

at a relatively equal pace. Trend forecasting oscillators are currently

bearish on INDEX.

RSI (14-day) 58.51 Support 1 12,394.50

MA (5-day) 12,343.51 Support 2 12,361.65

MA (10-day) 12,395.57 Resistance 1 12,457.45

MA (100-day) 11,228.00 Resistance 2 12,487.55

MA (200-day) 10,584.76 Pivot 12,424.60

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 0.10 at 41.46. Volume was 75 per cent below average

(consolidating) and Bollinger Bands were 3 per cent narrower than normal.

FFBL is currently 33.3 per cent above its 200-day moving average and is

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

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

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

tors are currently bullish on FFBL.

*Invest Cap 39 Hold

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Neutral

RSI (14-day) 61.46 Free Float Shares (mn) 326.94

MA (10-day) 41.09 Free Float Rs (mn) 13,554.87

MA (100-day) 33.96 ** NOI Rs (mn) 75.27

MA (200-day) 31.11 Mean 41.42

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed down -0.06 at 66.81. Volume was 79 per cent below average

(consolidating) and Bollinger Bands were 9 per cent narrower than normal.

NML is currently 26.8 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is relatively normal as compared to

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

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

forecasting oscillators are currently bearish on NML.

*Invest Cap 77 Buy

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 53.30 Free Float Shares (mn) 175.80

MA (10-day) 66.14 Free Float Rs (mn) 11,745.19

MA (100-day) 57.49 ** NOI Rs (mn) 67.81

MA (200-day) 52.71 Mean 66.89

* 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 down -0.64 at 331.14. Volume was 56 per cent below average

(consolidating) and Bollinger Bands were 56 per cent narrower than normal.

POL is currently 32.3 per cent above its 200-day moving average and is

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

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

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

forecasting oscillators are currently bullish on POL.

*Invest Cap 360 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 381.35 Positive

RSI (14-day) 63.63 Free Float Shares (mn) 107.94

MA (10-day) 328.42 Free Float Rs (mn) 35,744.23

MA (100-day) 274.74 ** NOI Rs (mn) 185.47

MA (200-day) 250.21 Mean 330.94

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed unchanged at 18.89. Volume was 60 per cent below average

(consolidating) and Bollinger Bands were 54 per cent wider than normal.

PTC is currently 1.8 per cent below its 200-day moving average and is dis-

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

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

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

oscillators are currently bearish on PTC.

*Invest Cap 25 Buy

AKD Securities Ltd 23.91 Buy

TFD Research 25.8 Positive

RSI (14-day) 42.86 Free Float Shares (mn) 585.02

MA (10-day) 18.97 Free Float Rs (mn) 11,051.10

MA (100-day) 19.20 ** NOI Rs (mn) 7.80

MA (200-day) 19.25 Mean 18.94

* 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 0.30 at 150.68. Volume was 58 per cent below average

(consolidating) and Bollinger Bands were 70 per cent wider than normal.

FFC is currently 32.5 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 mod-

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

tors are currently bullish on FFC.

*Invest Cap 149 Hold

AKD Securities Ltd 145 Reduce

TFD Research 139.5 Neutral

RSI (14-day) 63.64 Free Float Shares (mn) 373.19

MA (10-day) 151.70 Free Float Rs (mn) 56,232.25

MA (100-day) 119.50 ** NOI Rs (mn) 59.75

MA (200-day) 113.69 Mean 150.69

* 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 down -1.40 at 219.65. Volume was 71 per cent below average

(consolidating) and Bollinger Bands were 6 per cent wider than normal.

ENGRO is currently 17.9 per cent above its 200-day moving average and

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

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

reflect moderate flows of volume into ENGRO (mildly bullish). Trend fore-

casting oscillators are currently bullish on ENGRO.

*Invest Cap 210 Hold

AKD Securities Ltd 229.9 Accumulate

TFD Research 245.4 Positive

RSI (14-day) 66.52 Free Float Shares (mn) 147.48

MA (10-day) 215.22 Free Float Rs (mn) 32,394.33

MA (100-day) 188.89 ** NOI Rs (mn) 185.76

MA (200-day) 186.40 Mean 220.20

* 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 0.11 at 77.63. Volume was 88 per cent below average (con-

solidating) and Bollinger Bands were 48 per cent narrower than normal.

NBP is currently 13.6 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely low when compared to

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

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

forecasting oscillators are currently bearish on NBP.

*Invest Cap 52.4 Sell

AKD Securities Ltd 75.5 Neutral

TFD Research 92.3 Positive

RSI (14-day) 57.76 Free Float Shares (mn) 318.50

MA (10-day) 77.29 Free Float Rs (mn) 24,724.99

MA (100-day) 69.65 ** NOI Rs (mn) 113.06

MA (200-day) 68.34 Mean 77.61

* 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

1,425.90 1,446.48 1,406.49 1,421.63 -4.27 -0.30

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

3,443,287 - - 29,771.58 mn 19,213.87 mn 1,425.90

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

21.35 0.47 2.21 104.74 7.62 1,363.04

AL-Meezan Mutual F. 1375 8.30 9.95 10.05 9.81 9.96 0.01 196500 10.30 6.15 18.5 - - -

B R R Guardian Mod. 780 3.39 1.54 1.70 1.43 1.49 -0.05 118 2.79 1.20 0 - - -

Constellation Mod. 65 3.36 1.21 1.99 1.03 1.48 0.27 1028 1.99 1.00 - - - -

Equity Modaraba 524 12.19 1.85 2.20 1.85 1.95 0.10 6006 2.98 1.06 - - - -

First Dawood Mutual F. 581 0.59 1.89 2.19 1.85 1.85 -0.04 6811 2.39 1.61 - - - -

Golden Arrow 760 2.32 3.28 3.48 3.16 3.25 -0.03 44025 3.60 2.56 17 - - -

H B L Modaraba 397 2.65 8.15 8.00 7.75 7.95 -0.20 3392 9.00 6.13 11 - - -

Habib Modaraba 1008 6.03 6.97 7.00 7.00 7.00 0.03 14600 7.30 6.00 21 - - -

JS Growth Fund 3180 67.38 5.68 5.50 5.35 5.39 -0.29 118459 6.10 3.05 5 - - -

JS Value Fund 1186 1.36 5.61 5.74 5.27 5.65 0.04 1933947 6.20 3.00 10 - - -

KASB Modaraba 283 2.21 2.81 3.00 2.70 3.00 0.19 2500 3.50 1.26 2.8 - - -

Meezan Balanced Fund 1200 2.56 9.05 9.10 8.90 8.90 -0.15 462000 9.25 5.15 15.5 - - -

NAMCO Balanced Fund 1000 6.03 4.00 4.00 3.86 3.86 -0.14 25100 4.24 2.71 15 - - -

Nat Bank Modaraba 250 5.60 6.00 6.05 6.01 6.05 0.05 1000 7.74 4.50 10 - - -

PICIC Energy Fund 1000 2.11 7.21 7.30 7.09 7.27 0.06 7503 7.80 5.31 10 - - -

PICIC Growth Fund 2835 9.22 14.50 14.65 14.22 14.38 -0.12 520759 15.06 8.70 20 - - -

PICIC Inv Fund 2841 7.51 6.62 6.76 6.52 6.61 -0.01 84300 7.14 4.10 10 - - -

Punjab Modaraba 340 - 1.40 1.45 1.44 1.44 0.04 3000 2.54 0.50 1 - - -

Safeway Mutual Fund 545 7.74 7.89 7.74 7.74 7.74 -0.15 301 9.00 5.01 18.2 - - -

Stand Chart Modaraba 454 4.71 9.52 9.89 9.60 9.60 0.08 11300 10.29 8.51 17 - - -

Tri-Star Mutual 50 4.14 1.15 1.49 1.19 1.49 0.34 496 2.00 0.60 - - - -

U D L Modaraba 264 1.79 6.25 6.34 6.30 6.30 0.05 105 6.55 5.30 12.5 - - -

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

409.09 421.56 404.28 411.21 2.12 0.52

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

3,964,896 - - 30,336.44 mn 19,008.05 mn 411.21

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

11.77 0.27 0.91 99.56 3.34 386.51

AMZ Ventures 225 1.43 0.63 0.63 0.57 0.63 0.00 45757 0.95 0.33 - - - -

Arif Habib Investments 360 4.31 21.34 22.00 20.99 21.88 0.54 69696 22.40 16.37 - 20B - -

Arif Habib Limited 450 12.91 25.51 25.77 25.28 25.30 -0.21 25342 28.00 24.76 - 20B - -

Arif Habib Corp 3750 4.75 25.97 26.24 25.65 25.84 -0.13 1199761 30.20 23.35 30 - - -

Dawood Cap Mangt. XB 150 1.24 1.40 1.75 1.30 1.39 -0.01 5012 2.14 1.15 - - - -

Dawood Equities 250 - 1.81 1.93 1.75 1.89 0.08 1501 2.75 1.28 - - - -

First National Equity 575 - 7.07 6.11 6.07 6.07 -1.00 1481 10.50 5.31 - - - -

Grays Leasing 215 - 2.95 3.00 3.00 3.00 0.05 500 3.00 0.18 - - - -

IGI Investment Bank 2121 16.19 2.35 2.65 2.59 2.59 0.24 2500 3.90 2.21 - - - -

Invest and Fin Sec 600 722.00 7.51 7.50 7.20 7.22 -0.29 629 8.98 6.22 11.5 - - -

Invest Bank 2849 - 0.65 0.67 0.52 0.60 -0.05 3287 1.09 0.46 - - - -

Ist Cap Securities 3166 - 3.13 3.30 2.98 3.19 0.06 15267 3.96 2.95 - 10B - -

Ist Dawood Bank 626 0.62 1.68 1.75 1.60 1.74 0.06 3200 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 11.59 11.95 11.55 11.64 0.05 2965448 14.05 10.36 10 - - -

JOV and CO 508 - 3.56 3.90 3.60 3.83 0.27 159949 4.78 3.51 - - - -

JS Global Cap 500 7.22 26.44 26.95 25.61 26.85 0.41 6702 32.37 25.00 - - - -

JS Investment 1000 27.88 6.67 6.89 6.64 6.69 0.02 61616 7.59 6.20 - - - -

KASB Securities 1000 - 4.20 4.50 3.92 4.25 0.05 548457 5.43 3.80 - - - -

Orix Leasing 821 4.63 6.11 6.30 6.18 6.30 0.19 574 7.29 5.51 - - - -

Pervez Ahmed Sec 775 - 1.88 1.98 1.87 1.90 0.02 39229 2.69 1.84 - - - -

Sec Inv Bank 514 11.56 3.40 2.89 2.85 2.89 -0.51 1233 4.99 2.00 - - - -

Stand Chart Leasing 978 5.00 2.64 2.41 2.40 2.40 -0.24 7000 3.00 2.26 - - - -

Trust Brokerage 100 - 3.02 3.50 3.50 3.50 0.48 500 4.00 1.42 - - - -

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

773.50 799.35 756.82 760.51 -12.99 -1.68

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

76,185 - - 2,290.72 mn 8,931.89 mn 792.52

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

5.50 3.30 3.85 355.53 4.14 760.51

American Life 500 5.52 17.50 16.50 16.50 16.50 -1.00 1000 19.85 16.03 - - - -

EFU Life Assurance 850 35.77 63.12 65.49 62.72 62.96 -0.16 67717 86.95 62.68 - - - -

New Jub Life Insurance 627 28.28 43.95 46.14 41.76 42.14 -1.81 7468 49.31 40.15 - - - -

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

1,178.22 1,187.61 1,170.09 1,175.27 -2.95 -0.25

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

5,048,330 - - 257,548.02 mn 710,871.17 mn 1,178.22

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

8.45 1.18 13.94 40.49 4.79 1,158.35

Allied Bank Limited 7821 7.08 72.82 73.50 72.50 72.87 0.05 43612 74.00 56.50 20 - - -

Askari Bank 6427 8.17 17.20 17.40 17.10 17.15 -0.05 99159 19.25 15.53 - - - -

Bank Alfalah 13492 14.60 11.37 11.54 11.35 11.39 0.02 365586 11.99 9.48 - - - -

Bank AL-Habib 7322 7.81 36.11 36.70 36.25 36.25 0.14 122946 39.49 31.50 - - - -

Bank Of Khyber 5004 5.33 4.00 4.09 3.75 4.00 0.00 2022 4.70 3.62 - - - -

Bank Of Punjab 5288 - 8.36 8.44 8.23 8.36 0.00 1631168 10.59 7.98 - - - -

BankIslami Pak 5280 960.00 3.83 3.99 3.67 3.84 0.01 31739 4.50 3.00 - - - -

Faysal Bank 7327 4.64 14.27 14.70 14.09 14.39 0.12 37642 17.10 13.55 - 20B - -

Habib Bank Ltd 10019 7.80 124.37 125.75 124.05 124.86 0.49 73565 128.97 102.55 - - - -

Habib Metropolitan Bank 8732 7.84 25.95 25.96 25.46 25.65 -0.30 14500 29.28 20.40 - - - -

JS Bank Ltd 8150 - 2.42 2.44 2.35 2.44 0.02 122000 3.00 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.66 1.75 1.63 1.72 0.06 24023 2.80 1.49 - - - -

MCB Bank Ltd 7602 10.12 229.83 230.70 228.00 228.28 -1.55 255302 250.48 199.00 55 - - -

Meezan Bank 6983 9.84 18.65 18.99 18.60 18.60 -0.05 3823 20.30 14.52 - - - -

Mybank Ltd 5304 - 2.57 3.22 2.55 2.70 0.13 302 3.40 1.90 - - - -

National Bank 13455 6.78 77.52 77.89 77.41 77.63 0.11 533456 80.61 65.26 - - - -

NIB Bank 40437 - 2.74 2.82 2.70 2.80 0.06 579255 3.35 2.63 - - - -

Samba Bank 14335 - 1.94 1.92 1.80 1.81 -0.13 11398 2.17 1.70 -63.46R - -

Silkbank Ltd 26716 - 2.48 2.53 2.44 2.50 0.02 916316 3.05 2.44 - - - -

Soneri Bank 6023 - 6.92 7.00 6.90 6.91 -0.01 62361 8.48 6.80 - - - -

Stand Chart Bank 38716 11.55 7.50 7.51 7.35 7.51 0.01 3608 9.04 6.75 - - - -

Summit Bank Ltd XR 7251 - 3.40 3.50 3.30 3.39 -0.01 120911 4.63 2.70 - - - -

United Bank Ltd 12242 7.86 67.24 67.39 66.72 66.90 -0.34 114547 70.65 57.05 10 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

792.74 805.71 789.55 799.80 7.07 0.89

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

1,070,911 - - 11,111.34 mn 49,023.68 mn 799.80

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

13.04 0.68 5.20 79.54 6.10 762.70

Adamjee Insurance 1237 26.64 91.30 92.20 91.00 91.92 0.62 233883 96.40 77.50 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

1,643.21 1,687.97 1,643.00 1,671.67 28.46 1.73

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

1,973,680 - - 12,202.80 mn 36,459.18 mn 1,671.67

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

10.62 1.21 11.41 66.79 6.29 1,552.64

Sui North Gas 5491 7.98 26.90 27.25 26.61 26.81 -0.09 222350 34.75 25.71 20 - - -Sui South Gas 8390 3.90 24.91 25.98 25.20 25.91 1.00 1751330 25.98 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

1,350.66 1,367.92 1,338.81 1,350.84 0.18 0.01

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

4,468,930 - - 95,369.29 mn 110,698.93 mn 1,350.84

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

15.00 1.40 9.35 104.13 6.94 1,291.33

Genertech 198 - 0.72 0.86 0.66 0.70 -0.02 107035 1.18 0.66 - - - -Hub Power 11572 7.18 39.52 39.69 39.05 39.20 -0.32 199814 41.20 33.40 50 - - -Japan Power 1560 - 1.59 1.72 1.61 1.71 0.12 84812 2.15 1.50 - - - -KESC 7932 - 2.70 2.99 2.76 2.93 0.23 2742865 3.55 2.11 - 7.8R - -Kohinoor Energy 1695 9.63 18.18 19.10 17.25 17.34 -0.84 41226 22.85 17.25 15 - - -Kot Addu Power 8803 5.28 43.04 43.49 43.01 43.43 0.39 60158 45.85 39.00 50 - - -Nishat Chunian Power Ltd 3673 3.70 16.77 17.00 16.60 16.85 0.08 490493 18.01 13.32 - - - -Nishat Power Ltd 3541 28.84 17.81 17.95 17.70 17.88 0.07 287567 18.70 14.25 - - - -Sitara Energy Ltd 191 3.18 17.03 17.19 17.00 17.02 -0.01 275092 19.35 16.50 20 - - -Southern Electric 1367 - 2.15 2.22 2.07 2.17 0.02 171730 2.80 2.05 - - - -Tri-star Power XD 150 - 0.97 1.02 0.80 0.95 -0.02 8033 1.49 0.70 - - - -

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

1,112.45 1,133.84 1,104.23 1,114.61 2.17 0.19

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

1,098,685 - - 50,077.79 mn 77,062.73 mn 1,117.64

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

6.04 0.78 12.84 62.56 10.36 1,099.15

Pak Datacom 78 4.75 78.99 79.90 77.01 77.03 -1.96 454 82.99 76.50 80 - - -Pakistan Telecomm Co A 37740 12.59 18.89 19.20 18.76 18.89 0.00 807578 20.65 18.19 17.5 - - -Telecard 3000 0.65 2.06 2.24 2.07 2.17 0.11 134095 2.67 2.01 1 - - -WorldCall Tele 8606 - 2.65 2.72 2.61 2.68 0.03 156558 3.45 2.41 - - - -Wateen Telecom Ltd 6175 - 3.55 3.70 3.50 3.58 0.03 196586 4.65 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 5.96 37.45 37.50 37.30 37.48 0.03 3018 40.00 33.11 - - - -

Central Insurance XB 279 8.16 69.49 72.00 70.00 71.77 2.28 5000 83.00 54.10 10 10B - -

Century Insurance 457 6.25 10.68 10.34 10.00 10.00 -0.68 27500 12.00 9.65 - - - -

Crescent Star Insurance 121 - 4.63 5.59 3.63 4.00 -0.63 1070 6.30 3.10 - - - -

EFU General Insurance 1250 - 41.08 42.99 41.00 42.35 1.27 109401 47.90 38.50 - - - -

Habib Insurance 400 3.20 13.50 13.50 13.40 13.45 -0.05 3050 15.50 11.01 - - - -

IGI Insurance 718 17.60 92.53 95.85 93.50 94.86 2.33 2857 99.88 81.10 10 20B - -

New Jub Insurance 791 15.73 58.41 58.40 57.50 58.35 -0.06 2650 61.80 55.08 - - - -

Pak Reinsurance 3000 46.18 17.91 18.27 17.90 18.01 0.10 663606 19.40 15.36 - - - -

Pak Gen Insurance 250 1.77 7.98 7.50 7.50 7.50 -0.48 625 9.95 5.81 - - - -

Premier Insurance 303 6.11 11.70 11.51 11.30 11.31 -0.39 17890 12.93 9.40 - - - -

Universal Insurance 263 - 2.50 3.11 1.68 3.10 0.60 303 4.00 1.68 - - - -

UP TO 100 VOLUME

SGPL 1.20 1.29 1.29 1.29 0.09 99

TOWL 10.01 10.98 9.02 10.33 0.32 92

ISIL 76.95 77.79 73.11 77.79 0.84 70

MSOT 18.05 19.00 17.51 18.99 0.94 66

LAKST 277.75 277.00 263.87 270.85 -6.90 51

PNSC 34.93 35.00 34.55 35.00 0.07 51

EXIDE 197.00 194.00 194.00 194.00 -3.00 50

STJT 18.50 19.50 19.48 19.50 1.00 50

PTEC 2.00 2.50 2.00 2.00 0.00 41

PIL 9.00 8.30 8.30 8.30 -0.70 33

AASM 27.25 28.50 28.50 28.50 1.25 29

FRSM 17.98 18.40 17.50 17.96 -0.02 25

SHNI 10.79 11.00 11.00 11.00 0.21 25

GATI 46.74 48.99 48.85 48.85 2.11 22

AGSML 4.73 5.73 5.01 5.11 0.38 20

BAPL 8.21 9.21 7.36 8.36 0.15 20

CJPL 0.90 1.16 0.80 1.08 0.18 20

PAKMI 1.08 1.20 0.95 0.95 -0.13 20

HINO 122.21 128.32 121.25 126.88 4.67 19

ESBL 2.35 3.00 1.55 2.35 0.00 16

ULEVER 4385.65 4464.59 4311.01 4423.60 37.95 14

FECS 33.61 35.29 31.95 31.95 -1.66 13

GUTM 19.66 19.30 19.30 19.30 -0.36 11

MFFL 79.00 82.30 76.14 76.14 -2.86 11

ATFF 4.80 4.52 4.52 4.52 -0.28 10

FZCM 59.68 56.70 56.70 56.70 -2.98 10

ICL 26.32 25.02 25.02 25.02 -1.30 10

IDSM 7.45 8.45 6.81 8.23 0.78 7

JOPP 12.50 13.00 11.50 12.70 0.20 6

TICL 62.38 62.44 59.27 59.27 -3.11 6

EMCO 2.85 2.97 2.97 2.97 0.12 5

KML 2.48 3.40 1.51 2.60 0.12 5

KOHP 4.25 4.44 4.44 4.44 0.19 5

OTSU 33.00 33.50 33.50 33.50 0.50 5

CSM 0.71 0.68 0.52 0.64 -0.07 4

CSMD 6.01 6.95 6.01 6.48 0.47 4

HWQS 19.70 18.70 18.70 18.70 -1.00 4

BERG 20.40 20.62 20.20 20.48 0.08 3

BUXL 11.61 12.19 10.75 12.10 0.49 3

PRET 30.25 31.70 31.70 31.70 1.45 3

SALT 69.24 71.89 65.78 68.84 -0.40 3

AGIL 71.10 71.40 71.20 71.40 0.30 2

FZTM 420.00 415.00 407.50 415.00 -5.00 2

MSCL 13.00 13.69 12.00 12.85 -0.15 2

MTIL 0.47 0.60 0.31 0.46 -0.01 2

MUKT 0.46 0.44 0.35 0.40 -0.06 2

PIAB 3.11 2.26 2.26 2.26 -0.85 2

ADAMS 15.50 15.50 15.50 15.50 0.00 1

AZAMT 2.50 2.64 2.58 2.58 0.08 1

BCL 44.48 45.20 45.20 45.20 0.72 1

BILF 1.75 1.84 1.82 1.82 0.07 1

BTL 58.02 56.31 56.30 56.31 -1.71 1

BWCL 12.54 11.71 11.71 11.71 -0.83 1

BWHL 32.50 33.90 33.90 33.90 1.40 1

CLCPS 2.45 2.99 2.99 2.99 0.54 1

CWSM 1.35 1.60 1.48 1.48 0.13 1

DIIL 11.91 10.94 10.94 10.94 -0.97 1

ELSM 20.36 21.20 21.20 21.20 0.84 1

FFLM 1.52 1.75 1.60 1.60 0.08 1

FTSM 1.24 1.30 1.30 1.30 0.06 1

GAMON 1.29 1.50 1.50 1.50 0.21 1

GATM 30.00 29.50 29.50 29.50 -0.50 1

GVGL 24.70 23.47 23.47 23.47 -1.23 1

IDEN 14.90 15.90 15.80 15.80 0.90 1

IDYM 262.49 270.00 270.00 270.00 7.51 1

ILTM 104.55 105.00 99.33 105.00 0.45 1

MEHT 61.75 64.50 64.50 64.50 2.75 1

MWMP 1.17 1.21 1.20 1.21 0.04 1

PMI 1.00 1.10 1.10 1.10 0.10 1

PPP 42.40 43.90 43.90 43.90 1.50 1

SGLL 31.60 32.90 32.35 32.35 0.75 1

SRSM 3.63 3.88 3.88 3.88 0.25 1

WAHN 36.93 37.80 37.80 37.80 0.87 1

YOUW 1.38 1.40 1.40 1.40 0.02 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

POL-FEB 332.57 332.80 328.50 331.36 -1.21 2080000

POL-FEBB 322.57 323.00 313.00 322.71 0.14 1773000

ANL-FEB 11.34 11.80 11.50 11.67 0.33 659000

NBP-FEB 78.06 78.23 77.91 78.10 0.04 177000

FFBL-FEB 41.64 41.75 41.45 41.69 0.05 151500

ENGRO-FEB 222.26 222.65 220.00 221.05 -1.21 148000

NETSOL-FEB 26.95 28.20 27.00 27.07 0.12 115000

NML-FEB 67.26 67.48 67.10 67.17 -0.09 95000

PSO-FEB 291.17 293.90 288.60 292.01 0.84 95000

FFC-FEBB 117.86 120.00 118.75 119.68 1.82 93500

MCB-FEB 231.36 232.35 229.50 229.85 -1.51 67000

FFC-FEB 150.83 151.50 150.22 151.00 0.17 64000

DGKC-FEB 29.36 29.50 29.34 29.49 0.13 63000

BOP-FEB 8.42 8.55 8.25 8.30 -0.12 33000

PTC-FEB 19.00 19.19 19.00 19.06 0.06 30000

PPL-FEB 216.52 216.30 215.00 215.45 -1.07 24000

AICL-FEB 91.50 92.60 91.20 92.34 0.84 21000

LUCK-FEB 71.97 72.00 71.55 71.90 -0.07 5500

OGDC-FEB 172.50 173.00 172.79 172.84 0.34 4500

NCL-FEB 25.85 26.48 26.48 26.48 0.63 1500

Symbols Open High Low Close Change Vol

ZERO VOLUME

ADOS 16.43 16.25 16.25 16.25 -0.18 0.00

ALTN 11.40 11.35 11.35 11.35 -0.05 0.00

ASFL 3.50 4.50 4.50 4.50 1.00 0.00

BELA 1.25 1.00 1.00 1.00 -0.25 0.00

BROT 0.60 0.54 0.54 0.54 -0.06 0.00

FANM 3.35 3.29 3.29 3.29 -0.06 0.00

FASM 34.67 34.70 34.70 34.70 0.03 0.00

FECM 3.00 2.90 2.90 2.90 -0.10 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 46.57 2.90 2.80 3.15 3.25 3.05

Allied Bank Limited 60.27 72.40 71.95 73.40 73.95 72.95

Attock Cement 11.43 51.15 50.70 52.40 53.20 51.95

Arif Habib Corp 47.73 25.60 25.30 26.15 26.50 25.90

Arif Habib Limited 41.53 25.15 24.95 25.60 25.95 25.45

Adamjee Insurance 53.33 91.20 90.50 92.40 92.90 91.70

Askari Bank 42.44 17.05 16.90 17.35 17.50 17.20

Azgard Nine 58.04 11.40 11.20 11.80 12.00 11.60

Attock Petroleum 65.44 386.50 384.50 391.00 393.50 389.00

Attock Refinery 41.67 122.00 120.00 125.25 126.45 123.25

Bank Al-Falah 53.71 11.30 11.25 11.50 11.60 11.45

BankIslami Pak 50.52 3.65 3.50 4.00 4.15 3.85

Bank.Of.Punjab 30.97 8.25 8.15 8.45 8.55 8.35

Dewan Cement 51.35 1.90 1.70 2.30 2.45 2.05

D.G.K.Cement 45.84 29.10 28.90 29.50 29.70 29.30

Dewan Salman 56.53 2.95 2.75 3.30 3.50 3.10

Dost Steels Ltd 45.70 2.35 2.15 2.90 3.20 2.65

EFU General Insurance 53.37 41.25 40.10 43.20 44.10 42.10

EFU Life Assurance 23.71 61.95 60.95 64.70 66.50 63.70

Engro Chemical 66.52 218.50 217.30 221.10 222.50 219.90

Faysal Bank 42.38 14.10 13.80 14.70 15.00 14.40

Fauji Cement 32.81 4.50 4.45 4.70 4.85 4.65

Fauji Fert Bin 61.46 41.30 41.10 41.65 41.80 41.45

Fauji Fertilizer 63.64 150.10 149.50 151.40 152.10 150.80

Habib Bank Ltd 57.57 124.05 123.20 125.75 126.60 124.90

Hub Power 55.49 38.95 38.65 39.55 39.95 39.30

ICI Pakistan 50.43 145.20 143.25 148.90 150.65 146.95

Indus Motors 63.91 290.35 288.65 293.35 294.65 291.65

J.O.V.and CO 48.25 3.65 3.50 3.95 4.10 3.80

Japan Power 52.20 1.65 1.55 1.75 1.80 1.70

JS Bank Ltd 47.47 2.40 2.30 2.45 2.50 2.40

Jah Siddiq Co 44.21 11.45 11.30 11.85 12.10 11.70

Kot Addu Power 55.19 43.15 42.85 43.60 43.80 43.30

K.E.S.C 54.05 2.80 2.65 3.00 3.10 2.90

Lotte Pakistan 68.30 16.40 16.20 16.85 17.00 16.60

Lucky Cement 42.76 71.25 70.85 71.90 72.15 71.50

MCB Bank Ltd 48.91 227.30 226.30 230.00 231.70 229.00

Maple Leaf Cement 40.43 2.60 2.50 2.70 2.75 2.65

National Bank 57.76 77.40 77.15 77.85 78.10 77.65

Nishat (Chunian) 70.19 25.75 25.40 26.50 26.95 26.15

Netsol Technologies 69.67 26.40 25.85 27.85 28.75 27.30

NIB Bank 44.08 2.70 2.65 2.85 2.90 2.75

Nimir Ind.Chemical 79.88 2.55 1.95 3.40 3.75 2.85

Nishat Mills 53.30 66.50 66.20 67.20 67.60 66.90

Oil & Gas Dev. XD 51.24 172.15 171.75 172.95 173.35 172.55

PACE (Pakistan) Ltd. 58.17 3.05 2.90 3.35 3.45 3.20

Pervez Ahmed Sec 40.80 1.85 1.80 1.95 2.05 1.90

P.I.A.C.(A) 66.64 2.55 2.30 2.90 3.05 2.70

Pioneer Cement 38.93 6.40 6.25 6.85 7.15 6.70

Pak Oilfields 63.63 328.80 326.50 332.95 334.80 330.65

Pak Petroleum 48.65 213.45 212.45 215.65 216.85 214.65

Pak Suzuki 40.99 65.45 65.00 66.40 66.90 65.95

P.S.O. XD 44.35 288.25 285.85 292.45 294.25 290.05

P.T.C.L.A 42.86 18.70 18.50 19.15 19.40 18.95

Shell Pakistan 57.62 212.55 210.55 217.30 220.05 215.30

Sui North Gas 43.88 26.55 26.25 27.15 27.55 26.90

Sitara Peroxide 55.11 13.20 12.90 13.75 14.00 13.45

Sui South Gas 75.28 25.40 24.90 26.20 26.50 25.70

Telecard 49.66 2.10 2.00 2.25 2.35 2.15

TRG Pakistan 46.41 3.20 3.15 3.40 3.50 3.30

United Bank Ltd 49.61 66.60 66.35 67.30 67.65 67.00

WorldCall Tele 45.86 2.60 2.55 2.75 2.80 2.65

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

NI(U)T Fund 08-Feb 12:00

NIT Government Bond Fund 08-Feb 12:00

NIT Income Fund 08-Feb 12:00

Pakistan State Oil Co. Ltd 09-Feb 10:00

NetSol Technologies Ltd 09-Feb 12:00

Mubarak Textile Mills Ltd 09-Feb 3:00

Cherat Papersack Ltd 09-Feb 3:00

Shifa Int Hosp Ltd 09-Feb 10:00

IGI Aggressive Income Fund 09-Feb 5:30

Sigma Leasing Corporation Ltd 10-Feb 5:30

Pioneer Cement Ltd 10-Feb 12:30

MCB Bank Limited 10-Feb 10:30

IGI Investment Bank 10-Feb 2:00

PICIC Growth Fund 11-Feb 10:30

PICIC Investment Fund 11-Feb 10:30

PICIC Energy Fund 11-Feb 10:30

Meezan bank Limited 11-Feb 9:30

Allied Bank Limited 11-Feb 11:00

Cherat Cement Company Ltd 11-Feb 3:00

Sanofi Aventis Pakistan Ltd 11-Feb 3:30

BOARD MEETINGS

Company Date Time

Tuesday, February 8, 2011 8

ISLAMABAD: The founda-tion of Pakistan ElectronicMedia Regulatory Authority(PEMRA) had brought revo-lution and now more than 67TV and 142 radio channels areindependently workingthroughout Pakistan.Mian Javed former foundingchairman, PakistanTelecommunication Authority(PTA) and Pemra was speak-ing at SustainableDevelopment Policy Institute(SDPI) special lecture on"Pakistan environment:Successes and Failure", said apress release.The session was chaired by DrSyed Nazre Hyder and in hisopening remarks he said thatboth Regulatory Authoritiesrevolutionised Pakistani soci-ety. In the exclusive lecture MianMohammad Javed enlight-ened the audience about theinitial difficulties and howthey overcame them. He also spoke about currentenergy crisis and role ofrespective RegulatoryAuthorities.He highlighted that the rolesand responsibilities of regula-tory authority are constantlychanging due to prevailingcircumstances. In today's age, given thesocio-political and economicupheavals, there is a growingtrend of regulatory authoritiesexerting influence on the cre-ation of green jobs. These green jobs would helpaccelerate the transition fromjobs in high carbon sources tothe low carbon ones. Since the last 50 years, globaleconomic growth has beenunprecedented however it hasled to fast environmentaldecline. In his speech, he said now theOgra ought to take the mis-sion of biogas in Pakistan. Asthis is source of green energyand every village of Pakistancan be benefited. In the past huge amount hasbeen spent on laying of inte-grated infrastructure for gas

and now in wake of seriousgas crisis and rapid gasreserves promotion of biogasat large scale even for elec-tricity generation is best andmost technically and finan-cially most viable option inPakistan. He said that the livestock sec-tor is an integral part of agri-culture in Pakistan and itplays an important role in theeconomy of the country.Livestock sector contributedapproximately 53.2 per centof the agriculture value addedand 11.4 per cent to nationalGDP during 2009-10. The potential of biogas as asource of clean, easily avail-able energy is widely recog-nised but the country hasamong the highest unexploit-ed potential for biogas pro-duction in the region. Taking in account the numberof livestock, along with othernecessary parameters neededfor biogas, the country haspotential to provide energy to7 million houses of Pakistanthat is almost 60 per cent oftotal population. Although the biogas technolo-gy has proven itself in manysurrounding countries, biogasin Pakistan is still promoted ina pilot modality. The main barriers for large-scale dissemination are vari-ous but the absence of a strat-egy for domestic biogas andrequired skill are the majorconstraints. In his presentation andspeech, he also urged for theneed of more than one inte-grated energy grid. He alsosaid to need to develop anational agenda to harnesscheap and green hydro-powerfor sustainable developmentand to alleviate poverty inPakistan Replying questionshe said merit, transparencywere the foundation stone ofthe Regulatory Authoritiesestablished by himself that'swhy today Pakistanis areenjoying the benefits ofderegulation in telecom andelectronic media.-APP

PTA, Pemracredited forthe mediarevolution

Authority totake onlinecomplaintsin country

LAHORE: PakistanTelecommunication Authority(PTA) has introduced a newonline complaints system for theconsumers of broad band,Internet and all other telecomservices.

PTA Zonal office Lahore in astatement here said that under thenew system PTA and telecomoperators have been interlinkedthrough this system and promptaction would be initiated on theonline complaints launched byconsumers.

The complaint form, availableat the official PTA site, has beenredesigned keeping in view theform being used by the telecomoperators in Canada, Australiaand Singapore.

The consumers and PTA wouldbe made part of a single manage-ment system under which thecomplaints after registering at thewww.pta.gov.pk would be trans-ferred automatically to the con-cerned telecom operator.

The system will give a refer-ence number to the consumerafter registering the complaintwho can check its status anytime.-APP

PTCL introsnew ratesfor 2Mbpsbroadband

ISLAMABAD: PakistanTelecommunication CompanyLtd (PTCL) has launched newrates for 2 Mbps Broadband Datafor all its existing and new poten-tial broadband customersthroughout the country. Underthe newly announced package, 2Mbps data rate is offered to thecustomers at Rs1499 per monthwith unlimited downloadingfacility in addition to our existingBroadband data rate packages.

The new 2Mbps data rate as apromo will also be offered to allexisting 1Mb customers whoupgrade to 2Mb at the existingmonthly charges of 1Mb for aperiod of three months withoutany additional charges. Afterthree months the prevailingmonthly tariff of 2Mb of Rs1499will be applicable. This offer isonly valid for the upgrade cus-tomers of 1Mbps to 2Mbps.

SEVP commercial NaveedSaeed viewed the launch as agreat pleasure for PakistanTelecommunication Company toprovide PTCL customers withnew options in Broadband datarates. It supports our aim to pro-vide uninterrupted service to allour existing and new customers.

This newly offered data ratewill have an added effect of seg-menting our customers; he fur-ther added that keeping in mindthe needs of PTCL customers, wewill introduce more such offersto facilitate the users in future;PTCL has always and willalways strive to provide its cus-tomers with the best and mostaffordable services.-PR

PTCL’sBonanza

Thrill goes‘Feb-ulous’

ISLAMABAD: PakistanTelecommunication CompanyLTD (PTCL) has continued acountrywide exciting package"PTCL Bonanza Thrill" whichhas especially been designed toencourage the existing andpotential PSTN and Vfone sub-scribers.

This limited time offer isapplicable to all PTCL landlineand Vfone customers from 1stFebruary till 28th February,2011.

With this bonanza thrill offer,the PTCL customers can callfrom PTCL landline or Vfone toUfone, PTCL landline (localand NWD) and to Vfone (localand NWD) between 8pm to 8am which will be charged foronly first three (3) minutes andthe remaining duration of thecall will be free, said a pressrelease issued here.

Naveed Saeed, SEVPCommercial has said that thePTCL has always provided thebest packages and promotionsto its customers and this partic-ular promotion will enable cus-tomers to make longer durationcalls to their loved ones withoutworrying about the bill.

He further added that thePTCL has always strived to pro-vide its customers with the bestand most affordable services.

By introducing these newpackages, PTCL intends toaddress its customers' needs inthe most effective and budget-conscious manner and in futureas well the PTCL will keep onintroducing more such offers tofacilitate its users.-APP

Frenchcos mullinternet

billing JVPARIS: French telecommunica-tions rivals Bouygues Telecom,Orange and SFR are bandingtogether to create an internet pay-ment company along the lines ofeBay's Paypal, they said lastweek.

The partnership, dubbedBuyster, will allow the Frenchcompanies to get a piece of theinternet payment market domi-nated by US companies such asApple and Google.

The three companies, fiercerivals in France for the saturatedinternet and telephone market,will produce an e-commerceplatform by the summer alongwith IT services company AtosOrigin, which will target morethan 50 million consumers, theysaid..-Reuters

Broadbandturningrural in

NZealandWELLINGTON: NewZealand's top two telecommu-nications companies have beenchosen for negotiation with theNew Zealand government toprovide fast internet services torural areas, the governmentsaid.

Telecom and Vodafone pro-posed in November a joint ven-ture to build a new, open accessnetwork for broadband in ruralareas.Telecom is New Zealand'sbiggest full service telecommu-nications company, whileVodafone is the country'sbiggest mobile provider, andthe government is confident thesolution proposed can bedeployed, Communications andInformation TechnologyMinister Steven Joyce said."The government specificallyasked for parties to considercollaborating on joint bids toreduce construction costs - andthis bid does just that," Joycesaid in a statement.Shares in Telecom, the coun-try's second largest listed com-pany, closed on Friday atNZ$2.24.The government wants the newnetwork to provide fast internetfibre connections to 97 percentof rural schools and 80 percentof rural households within sixyears.The companies have said thefibre and wireless services willbe open to all providers.Telecom will build fibre toschools and hospitals, cell sitesand rural exchanges and cabi-nets, and Vodafone will designand build infrastructure the twocompanies use to co-locatetheir mobile services on.-Reuters

Total subscriber base hits 100 million

ISLAMABAD: TelenorPakistan has announced thatits Board of Directors hasappointed Christian Albechthe company's new ChiefExecutive Officer (CEO)who will succeed Jon EddyAbdullah from March 1,2011.

"The Board of Directors isvery pleased to appointChristian Albech as TelenorPakistan's new CEO. Hisextensive management expe-rience and ability to driveinnovation and deliver resultswill be a great benefit for thecompany. We are confidentthat Christian has the rightqualification to further devel-op an already successfulcompany," said Hilde Tonne,Chairman of the Board ofTelenor Pakistan, and DeputyHead Telenor Group AsiaRegion.

Christian Albech has sub-stantial experience fromexecutive positions in thecommunication and media

industry. He comes from theposition as CEO of TelenorBroadcast, where he has beenresponsible for TelenorGroup's portfolio of broad-cast operations - CanalDigital, Telenor SatelliteBroadcasting, Norkring andConax. At the end of thirdquarter 2010, these opera-tions represented 9 percent ofTelenor Group's total rev-enues.

"I have always appreciatednew challenges, and I amtherefore very pleased to beoffered the opportunity tohead Telenor Pakistan.Telenor Pakistan has provenitself as one of the TelenorGroup's most successfuloperations. I bring with me aforward leaning, goal-orient-ed approach and a strong cus-tomer focus, and I am look-ing forward to start workingwith the Telenor Pakistanteam of highly skilledemployees", said ChristianAlbech.-PR

Telenor PakistanCEO office getsnew incumbent

Total subscriber base hits 100 million mark

KARACHI: A model displays a latest Touchtel Solo mobile handsetduring the launching ceremony at a local hotel.-Staff Photo

ISLAMABAD: WaridTelecom has congratulatedPakistan Telecom Authority(PTA) and the telecomIndustry of Pakistan forachieving the milestone of onehundred million mobile sub-scribers.

More than 61 per cent ofpopulation and over 92 percent of land area is now cov-ered by cellular services. Beingpart of this great achievementand phenomenal success,Warid Telecom reinforces itscommitment towards businessexcellence.

Being a consumer-centriccompany Warid ensures toserve its valuable customerswith delighting customer care,exceptional network qualityand innovative products and

services.While commenting on the

achievement MuneerFarooqui, CEO Warid Telecomsaid, "PTA has been very con-ducive to the growth of indus-try since its inception. Themobile sector growth has beenextraordinary and this sectorhas become a model for othercountries across the world.

Telecom Industry has largelybenefited from the initiativestaken by PTA such as thederegulation of internationalgateways and mobile numberportability which helped growteledensity.

"I am very optimistic abouttelecom industry of Pakistanand wish PTA and all theindustry stakeholders a greatsuccess in future", he said.

With the end of 2010 Waridcompletes its five and halfyears of successful businessoperations in Pakistan. Thecompany sets the highest stan-dards of business excellenceand secured over 17 millionsatisfied subscribers with amarket share of about 17 percent and a network coverage in6800 destinations, servicing550 cities including AzadJammu & Kashmir andNorthern Areas of Pakistan.

With the substantial marketshare, a strong brand repute,loyal subscriber base, and therecognition as the most trustedcellular service, WaridTelecom continues to setexcellence benchmarks in thetelecom Industry of Pakistan.-NNI

Hats off to PTA,tele-sector: Warid

ISLAMABAD: Ufone is cele-brating its 10th anniversarywith great fervor as the launchof Ufone was the dawn of arevolution within the telecomindustry. Ufone started out as a servicefor the masses and it pushed toremove the perception andreality that cellular serviceswere only for the elite in thecountry. Today cellular services areenjoyed by people from everywalk of life which has beenmade a reality, thanks to thepromise Ufone made to thepeople of Pakistan and ulti-mately fulfilled it in just 10years. Over the last decade the tele-com industry has seen fiercecompetition with an exception-al decrease in tariffs, a majorfocus on value-added and cus-tomer services in which Ufonehas taken the lead, said a pressrelease issued here.Ufone has shown vast growthand endurance all the way, even

though amid intense competi-tion, the organisation hasshown great reverence with itsincrease in revenue and hasalways remained profitable. In 2009-2010, Ufone led themarket with the highest revenuegrowth in cellular industry.Over the last few years theworld has witnessed one of theworst global recessions duringwhich downsizing was one ofthe major cost cutting tech-niques used by organisations. On the other hand, Ufone stoodout by not following the trendand instead motivated andacknowledged its employeesby giving more financial bene-fits and focused on growth inall business areas with a majorfocus on corporate socialresponsibility and has alwayscome out to help the people ofPakistan through testing times.Abdul Aziz CEO Ufone said"this is indeed an emotionalmoment for me as 10 years agoI was part of a very small buthighly committed and focused

group of individuals whohelped start Ufone."We stand tall today in themarket because of our incredi-ble service orientation, and agreat team spirit that did notfade out due to time; it onlygrew stronger. From the day that we launchedtill now, we as an organizationvalue the essence of our corpo-rate mission and vision ofBecoming the Best CellularOption Available for U!" Ufone has surely come a longway and today is one of themost aggressive and competi-tive telecom companies in thecountry. CEO Ufone said, "I would liketo thank our family of morethan 20 million customers ourstrategic partners and thou-sands of Ufone employeesaround the country for helpingmake Ufone the driving forcethat it is today. I would like toadd, for Ufone "Success is ajourney, not a destination".-APP

Ufone partying at10th anniversary

LONDON: Copper hit a recordon Monday as concerns aboutsupply, especially from top pro-ducer Chile, added to a recentstream of positive economicdata that boosted the outlookfor industrial metals demand.

Tin also hit a record high onworries about supply problemsin top exporter Indonesia.

Three-month copper on theLondon Metal Exchange hit arecord at $10,160, but trimmedgains to $10,104.50 from$10,050 at the close on Friday.

The euro fell against the dol-lar for a fourth straight day,knocking the edge off themetal's price. A stronger dollarmakes metals more expensivefor holders of other currencies.

Still, sentiment remains posi-tive for industrial metals.

"Very positive economic datalast week built up momentum,and the outlook for metalsdemand is looking good," saidGayle Berry, an analyst atBarclays Capital.

"The supply side of the cop-per market looks extremelyconstrained this year. A whiffof any further supply constraint

can boost the sentiment, andthe potential power problems inChile exacerbated the situa-tion."

Chile's Energy and MiningMinister Laurence Golbornesaid last week the country mayface an energy squeeze by asearly as midyear because ofdrought and high demand andcould resort to rationing elec-tricity.

Chile's copper export revenuerose 8.3 per cent to $3.73 bil-lion in January from a year ago,the central bank said onMonday. But copper exportrevenue was down sharplyfrom $4.5 billion reported forDecember. Chile is the world'stop copper producer, miningabout a third of global supply.

"The market is mainly drivenby funds at the moment.Demand in China is quiet, butfunds continue to buy," an

LME ring trader said. "Thereare also some concerns that thecyclone in Australia may cutsupply."

Xstrata Plc restarted its3 0 0 , 0 0 0 - t o n n e - p e r - y e a rTownsville copper refinery inAustralia, which was shut lastweek due to Cyclone Yasi, thecompany said.

Top miners are set to report adoubling in profits for theDecember half, thanks to boom-ing iron ore and copper sales,sparking calls for fat cash returnsto shareholders as the majorminers run out of takeoveropportunities.

"The big four mining groupsI'm sure are going to be talkingabout what they're going to putinto their mining projects, andmaybe we'll see quite a lot ofcopper coming onto the marketin terms of new mines comingon stream," Kernot said.-Reuters

Copper at record highon Chile concerns, data

9Tuesday, February 8, 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 February 04 2011

LME Official Prices, US$ per tonne for February 04 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2325 2523 9985.5 2637 28070 30940 2466 2471

Cash seller 2330 2523.5 9986 2638 28075 30945 2467 2471.5

3-months buyer 2290 2538.5 9977.5 2572 28035 30850 2490 2495

3-months seller 2300 2539 9978 2573 28040 30900 2492 2505

15-months buyer 2205 2597 9760 2515 26815 30350 2510 2535

15-months seller 2215 2602 9770 2520 26915 30400 2515 2545

27-months buyer 2205 2640 9325 2460 25430 2478 2590

27-months seller 2215 2645 9335 2465 25530 2483 2600

LONDON METAL EXCHANGE (METALS)

LONDON: North Sea Brentcrude oil climbed back above$100 a barrel on Monday onworries that unrest in Egyptcould spread to other parts ofthe Middle East and northAfrica, disrupting energy sup-plies.

A senior Kuwait official saidover the weekend oil pricescould exceed $110 per barrel ifthe turmoil inEgypt continued,while Venezuelasaid prices couldmore than doubleto $200 if theSuez Canalclosed.

Iran, whichholds the rotating presidencyof the Organization of thePetroleum ExportingCountries, said it saw no needfor an emergency OPEC meet-ing even if oil prices hit $120.

"The risk of Egypt contagionto the region brings a geopolit-ical price premium to the mar-kets," said Christopher Bellew,a broker at BacheCommodities Limited. "Aslong as there is uncertainty, wewill certainly hold the levelsand there is scope to go high-

er."He added, "Metals and cur-

rencies also play in favour ofthe oil prices, with the dollarweaker against the euro."

ICE Brent crude oil futuresfor March rose by $1.07 to ahigh of $100.90 before slip-ping back to around $100.10by 1447 GMT. On Feb. 3,Brent reached an intra-day

high of $103.37, its highestsince September 2008.

US crude futures declined asinvestors looked past the polit-ical crisis in Egypt to high oilinventories, particularly inCushing, Oklahoma, the deliv-ery point for the New YorkMercantile Exchange's crudefutures contracts.

US crude for March fell 30cents to $88.73 a barrel by1447 GMT.

President Hosni Mubarak'snew cabinet on Monday held

its first full meeting since anuprising started nearly twoweeks ago, with no concreteprogress in talks withIslamists and an oppositionwho demand his immediateexit.

Mubarak, 82, has refusedcalls to end his 30-year-oldpresidency before Septemberpolls. Protesters, barricaded in

a tent camp inTahrir Squarein the heart ofCairo, havevowed to stayuntil Mubarakquits andhope to taketheir cam-

paign to the streets with moremass demonstrations onTuesday and Friday.

The banned Islamist MuslimBrotherhood movement wasamong the groups meetinggovernment officials at theweekend.

Traders are worried thatunrest in Tunisia and Egyptcould fuel similar protests inbigger oil producers such asLibya, or even Saudi Arabia,creating uncertainty over oilsupplies.-Reuters

Brent crude backabove $100 on Egypt

Europeanvegetableoil prices

\ The following were theMonday's European veg-etable oil price's at 22:00PST.

SOYOIL: EU degummedeuro tonne fob exmill Feb111035.00, Mar11 1035.00,Apr11 1035.00, May11/Jul111035.00+10.00, Aug11/Oct111040.00+10.00, Nov11/Jan121045.00+10.00.

RAPEOIL: Dutch/EU eurotonne fob exmillMay11/Jul11 1050.00+10.00,A u g 1 1 / O c t 1 11010.00+10.00, Nov11/Jan121015.00+5.00, Feb12/Apr121020.00+5.00.

SUNOIL: EU dlrs tonneextank six ports option Feb111490.00+0.00, Mar111490.00+0.00, Apr11/Jun111480.00+0.00, Jul11/Sep111495.00+5.00, Oct11/Dec111425.00+5.00.

LINOIL: Any origin dlrstonne extank RotterdamFeb11/Mar11 1572.50-2.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Feb111315.00-2.50, Mar111320.00+2.50, Apr11/Jun111297.50-2.50, Jul11/Sep111272.50-5.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Feb111355.00, Mar11 1355.00,Apr11/Jun11 1330.00.

PALMOIL: RBD dlrs tonnefob Malaysia Feb11 1300.00,Mar11 1300.00, Apr11/Jun111275.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111310.00, Mar11 1310.00,Apr11/Jun11 1282.50,Jul11/Sep11 1250.00,Oct11/Dec11 1230.00.

PALM STEARIN: Dlrstonne fob Malaysia Feb111285.00+15.00, Mar111280.00+10.00.

COCONUT OIL:Phil/Indon dlrs tonne cifRotterdam Feb11/Mar112280.00+0.00, Mar11/Apr112250.00+5.00, Apr11/May112230.00+5.00, May11/Jun112210.00-5.00.

PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Feb11/Mar112 3 0 0 . 0 0 + 2 0 . 0 0 ,M a r 1 1 / A p r 1 12 2 8 0 . 0 0 + 2 0 . 0 0 ,A p r 1 1 / M a y 1 12250.00+25.00. -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

7-Feb-2011 CRUDE100 MA11 US$ Per Barrel 90.97 91.65 88.50 89.29 678 89.48 89.29 68

7-Feb-2011 CRUDE100 AP11 US$ Per Barrel 93.90 94.05 91.32 92.24 141 92.39 92.24 37

7-Feb-2011 CRUDE100 MY11 US$ Per Barrel 93.10 95.63 93.10 94.56 1 94.65 94.56 3

7-Feb-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 28.83 29.32 28.76 29.21 175 29.15 29.21 45

7-Feb-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 28.88 29.21 28.88 29.21 - 29.15 29.21 2

7-Feb-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1348.40 1359.00 1345.40 1348.40 2,221 1347.00 1348.40 1,723

7-Feb-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1348.50 1359.00 1346.00 1348.90 2,356 1347.50 1348.90 1,610

7-Feb-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1349.30 1360.00 1346.80 1349.60 1,186 1348.20 1349.60 599

7-Feb-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1348.70 1348.70 1348.40 1348.40 - 1347.00 1348.40 -

7-Feb-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1349.00 1358.30 1344.00 1348.90 62 1347.50 1348.90 10

7-Feb-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1349.80 1349.80 1348.90 1348.90 - 1348.20 1349.60 -

7-Feb-2011 GOLD FE11 Per 10 grms 37344.00 37480.00 37143.00 37226.00 6 37185.00 37226.00 13

7-Feb-2011 GOLD MA11 Per 10 grms 37255.00 37255.00 37235.00 37235.00 - 37193.00 37235.00 1

7-Feb-2011 GOLD AP11 Per 10 grms 37177.00 37272.00 37177.00 37252.00 2 37210.00 37252.00 82

7-Feb-2011 KILOGOLD FE11 Per 10 grms 37219.00 37219.00 37199.00 37199.00 - 37157.00 37199.00 1

7-Feb-2011 KILOGOLD MA11 Per 10 grms 37228.00 37228.00 37207.00 37207.00 - 37166.00 37207.00 -

7-Feb-2011 TOLAGOLD50 FE11 Per Tola 43411.00 43411.00 43388.00 43388.00 - 43339.00 43388.00 -

7-Feb-2011 TOLAGOLD100 FE11 Per Tola 43411.00 43411.00 43388.00 43388.00 - 43339.00 43388.00 -

7-Feb-2011 MINIGOLD MON Per 10 grms 38271.00 38304.00 38271.00 38304.00 - 38263.00 38304.00 -

7-Feb-2011 MINIGOLD TUE Per 10 grms 38311.00 38311.00 38252.00 38252.00 - 38210.00 38252.00 -

7-Feb-2011 MINIGOLD WED Per 10 grms 38324.00 38324.00 38265.00 38265.00 - 38223.00 38265.00 -

7-Feb-2011 MINIGOLD THU Per 10 grms 38338.00 38338.00 38278.00 38278.00 - 38236.00 38278.00 -

7-Feb-2011 MINIGOLD FRI Per 10 grms 38351.00 38351.00 38291.00 38291.00 - 38250.00 38291.00 -

7-Feb-2011 TOLAGOLD MON Per Tola 44450.00 44450.00 43973.00 44011.00 1 43963.00 44011.00 -

7-Feb-2011 TOLAGOLD TUE Per Tola 44019.00 44019.00 43951.00 43951.00 - 43902.00 43951.00 3

7-Feb-2011 TOLAGOLD WED Per Tola 44034.00 44034.00 43966.00 43966.00 - 43917.00 43966.00 -

7-Feb-2011 TOLAGOLD THU Per Tola 44050.00 44050.00 43981.00 43981.00 - 43932.00 43981.00 1

7-Feb-2011 TOLAGOLD FRI Per Tola 44480.00 44700.00 43996.00 43996.00 4 43947.00 43996.00 35

7-Feb-2011 IRRI6W 10FE11 Per 100 kg 3207.00 3207.00 3153.00 3153.00 - 3207.00 3153.00 -

7-Feb-2011 RICEIRRI - 6 FE11 Per 100 kg 3212.00 3212.00 3159.00 3159.00 - 3212.00 3159.00 -

7-Feb-2011 RBD PALMOLEIN FE11 Per Maund 5481.00 5481.00 5455.00 5455.00 - 5481.00 5455.00 -

7-Feb-2011 KIBOR3M 11-Mar Per Rs. 100 86.19 86.19 86.17 86.17 - 86.19 86.17 -

7-Feb-2011 KIBOR3M 11-Jun Per Rs. 100 85.48 85.54 85.48 85.54 - 85.48 85.54 -

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

KABUL: An Afghan uses a two wheel tractor donated by the United States during a ceremony to

mark the distribution of tractors to Afghan farmers in Kabul. -Reuters

LONDON: Gold held near$1,350 an ounce on Mondayafter the metal's first weeklyrise this year supportedinvestor confidence in themetal, though a more opti-mistic view of the global eco-nomic outlook is continuing toweigh on prices.

A run of above-consensuseconomic US data this year haslifted demand for higher-risk,higher-yielding assets at gold's

expense, leading to a 5 per centdip in prices in 2011 so far.

Spot gold was bid at$1,347.30 an ounce at 1502GMT, against $1,346.90 late inNew York on Friday. US goldfutures for April delivery weredown $1.20 at $1,347.80.

The metal fluctuated onFriday following mixed USpayrolls data, but still postedits first weekly rise of the yearso far after the EuropeanCentral Bank and FederalReserve distanced themselvesfrom speculation monetarypolicy might tighten soon.

It has since stuck to a narrowrange, awaiting clearer direc-tion on monetary policy andgrowth. Analysts say itslonger-term outlook looks pos-itive.

"Fundamentally, gold seems

to have taken a beating withinvestors, especially ETFs,offloading a large part of theirgold as key economies areturning to normalcy, or are atleast in the process of that,"said Pradeep Unni, a senioranalyst at Richcomm GlobalServices.

"Repeated failure to sustainthe gains beyond key resist-ance of $1,355 signal animpending sell-off in the near

term.""(But the) long-term trend

seems to be completelybiased northwards, and thedecade-old rally will extendfurther."

Gold prices were supportedby a slight rise in physicaldemand from Asia as buyersin Singapore and Hong Kongreturned to the market afterlast week's New Year celebra-tions, although China, theworld's second-biggest goldconsumer, remains absent.

"We are all waiting to seewhat the Chinese will do aftertheir New Year holidays,"said Afshin Nabavi, head ofmetals trading at MKSFinance. "I would say thephysical demand we saw allthrough January, we have notseen since 2008."-Reuters

Gold steady afterfirst weekly rise;optimism weighs

KUALA LUMPUR: Malaysianpalm oil slipped from three-yearhighs hit earlier on Monday astraders booked some profits onthe stronger ringgit, pausing arally driven by erratic weathercurbing output.

Floods in the southernMalaysian state of Johor lastweek prevented estates fromtransporting up to 70,000 tonnesof crude palm oil for processing,triggering a surge in pricesbefore the long weekend holiday.

Planters and refiners nowexpect exports to pick up thisweek as floods recede althoughheavy rains continue to poundother oil palm growing areas,raising the threat of weakeryields.

"Investors are uncertain aboutthe weather condition, that's whyprices went positive and minus.Some of them are liquidatingtheir positions now, but therearen't lots of movements asmany people still on (Lunar NewYear) holiday," said a trader inKuala Lumpur.

The benchmark April crudepalm oil contract on BursaMalaysia Derivatives fell 0.7 percent to 3,868 ringgit

($1,270.905) per tonne. Earlierin the session, the contract wentas high as 3,915 ringgit -- a levelunseen since March 10, 2008.

Overall traded volume rose to20,152 lots of 25 tonnes each,compared to the usual 15,000lots. A stronger Malaysian cur-rency against greenback alsoprompted refiners to stay at thesideline as a firmer ringgitmakes profits for dollar-pricedcommodities like palm oil andsoyoil less lucrative for them.

"Stronger ringgit versus USdollar will limit upside as marginfor refiners were deteriorated,"the same trader added.

Reuters technical analysisshowed Malaysian palm oilprices may hover around 3,905per tonne on Monday before itresumes its uptrend towards abullish target at 4,060 ringgit.

US March soyoil contractinched up in Asian trade hours,moving in tandem with firmercrude oil futures that were sup-ported by the political crisis inEgypt and stronger US econom-ic data. China financial marketsare still closed for Lunar NewYear holiday, trade to resume onFeb. 9. -Reuters

Palm oil off highson ringgit; weather

Raw sugarup on lower

India forecastLONDON: Raw sugar futuresclimbed on Monday, supportedby trimmed forecasts for Indiansugar output and renewedphysical buying after pricespulled away from 30-yearpeaks.

Arabica coffee futures alsorose as high-quality beansremained in short supply, whilecocoa dipped slightly on tech-nical factors, falling furtherfrom one-year peaks.

ICE March raw sugar gained0.47 cent or 1.4 per cent to33.11 cents per lb at 1536GMT, below the 30-year peakof 36.08 cents touched lastWednesday.

London March white sugarwas up $8.30 or 1 per cent at$802.70 per tonne, below lastweek's record high of $857.00per tonne.

Dealers said lower sugarprices encouraged more physi-cal buying, as the March con-tract on ICE had its first week-ly loss in three weeks on Fridayafter falling 3.9 per cent.

Markets were also boostedafter an Indian state cut its out-look for the country's 2010/11sugar crop to 24 million tonnes,below government estimates.

Coffee futures were higher asbetter quality beans continuedto be hard to find, propping uparabica prices.

Colombia, the world's biggestproducer of high qualitywashed arabica beans, is enter-ing its third year of lower-than-average production due toadverse weather and a rejuve-nation program that took manytrees out of production.

As a consequence, manyroasters have turned to Brazil,the world's biggest coffee pro-ducer.

ICE March arabicas gained1.65 cent or 0.7 per cent at$2.5095 per lb at 1537 GMT,below its 13-1/2-year peak of$2.5360 a lb from lastThursday.

Liffe May robusta coffee wasup $6 or 0.3 per cent at $2,243per tonne, below its 2-1/4-yearhigh of $2,287.

Coffee exports in Uganda,Africa's second-largest produc-er, fell by 18.6 per cent inJanuary compared with a yearearlier due to unfavourableweather, a source at the UgandaCoffee Development Authoritysaid on Monday.

Cocoa prices on ICEretreated further from theirone-year peaks on technicaltrading after rallying on theback of a Jan. 23 call for amonth-long export ban inIvory Coast, which producesabout a third of the world'scrop.-Reuters

Tokyo rubber

down 2.4pc,

but supply

supportsBANGKOK: Tokyo rubberfutures dropped 2.4 per cent onMonday on weaker oil pricesand profit-taking as players liq-uidated contracts after pricesfailed to stay firmly abovemajor resistance of 500 yen,but tight supply still lent sup-port, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for July delivery fell12.1 yen, or 2.4 per cent, to set-tle at 490.8 yen ($5.96) per kg.

"The market was overboughtand prices have risen too high,so players sold contracts to takeprofits and avoid risk afterprices failed to stay above the500 yen level," one dealer said.

Oil prices fell nearly 2 percent on Friday after anunfounded report about a possi-ble announcement from Egyptset off speculation thatPresident Hosni Mubarak couldstep down shortly, sparkingprofit-taking from which themarket failed to recover.-Reuters

OPEC producers talk of much higher oil prices

MUMBAI: Indian sugarprices ended flat on Monday asa slight improvement indemand outweighed highersupplies for February, dealerssaid.

"There was an improvementin retail demand due to it beingthe beginning of the month, butsupply pressure is still loomingdue to unsold stocks ofJanuary," said a member ofBombay Sugar MerchantsAssociation (BSMA).

Wholesale traders stock upon food articles in the last andfirst week of the month to pre-pare for purchases by India's

salaried middle class, who buyin the first two weeks of themonth after receiving wages.

India has made available1.62 million tonnes of non-levy sugar for February,including 300,000 tonnesunsold stocks of January.

Non-levy, or free-sale sugar,is sold by millers in the openmarket, but the quantity eachmill can sell is fixed by the fed-eral government on a monthlybasis.

In Kolhapur, a key market intop producing Maharashtrastate, the most traded S-varietynudged down by 1 rupee to

2,695 rupees ($59.2) per 100kg, after losing 5 per cent inJanuary.

Sugar contract for Marchdelivery on India's NationalCommodity and DerivativesExchange (NCDEX) endeddown 1 rupee at 2,788 rupeesper 100 kg.

Sugar output in India'sMaharashtra state is up 13 percent from a year ago, slightlyslower than in January, a stateindustry body said, and it cutits output view for the countryto 24 million tonnes, belowgovernment estimates.-Reuters

Indian sugar ends flat

10Tuesday, February 8, 2011

FIFA President Blatter speaksduring the 24th AFC congress in Doha

Imran sees‘bans’ asessentialbitter pills

ISLAMABAD: Cricketinggreat Imran Khan says the sus-pensions handed to threePakistani cricketers for spotfixing are necessary for thesake of the sport.

An International CricketCouncil (ICC) tribunal bannedformer Pakistan captainSalman Butt for 10 years, withfive years suspended, bowlerMohammad Asif for sevenyears, with two suspended andteenage paceman MohammadAamer for five years.The triowere charged over incidentsduring the Test againstEngland at Lord's in Augustlast year, when Britain's Newsof the World newspaperclaimed the players were will-ing to deliberately bowl no-balls, reported ABC news.

Khan says he is upset by thebans, but says they are essen-tial for the future of the game."I am genuinely upset over thebans on three key, young andtalented players," he said.

"But once the players wereproven guilty a punishmenthas to be given for the sake ofcricket in general and for thesake of Pakistan cricket in par-ticular."Khan, who ledPakistan to victory in the 1992World Cup, says the loss of thethree key players will hurtPakistan's chances in theupcoming World Cup tourna-ment."I feel sad for Aamer,who is probably the best youngfast bowler in the world at themoment and had a long way togo," he said."Asif is one of thebest new ball bowlers and Buttis a solid opener, so with thesethree key players Pakistanwould have done very well inthe World Cup, but that is notto be."Khan says the nationfelt humiliated when the cor-ruption case surfaced last year.

"It was great humiliation forthe people of Pakistan as thekind of ignominy it broughtmade people more demor-alised than the floods in thecountry," he said.-Online

PERTH: Australia wrapped upan emphatic 6-1 series win overa weary England with a com-prehensive 57-run win in theseventh and final One-DayInternational. The home sidemade 279 for seven after win-ning the toss, and in replyEngland managed just 222,despite a lusty unbeaten 60 byMichael Yardy.

The English were never in thehunt after Andrew Strauss andSteven Davies both fell forducks to leave them strugglingat five for two. Jonathan Trottand Kevin Pietersen tried to re-start the innings, but the loss ofboth their wickets and that ofIan Bell left England on 64 forfive.

Mitchell Johnson claimedthree for 18 for the home sideand the wayward Shaun Taitthree for 48, but he also con-ceded nine wides and five no-

balls. After winning the tossand electing to bat, half-cen-turies by David Hussey andman-of-the-match Adam Vogeshelped the home side recoverfrom a slow start to post animposing total.

Australia were 103 for four inthe 26th over when stand-incaptain Cameron White wasdismissed for 24.

However, Hussey and Vogesthen accelerated the Australianinnings, putting on 95 in 83balls. Voges remained unbeatenon 80 not out, while Husseymade 60.

The Australian innings gotoff to a controversial start whenTim Paine was given out lbw toLiam Plunkett for five onreview. The Virtual Eye systemsaid he was hit in line and thatthe ball was going on to hit thestumps, even though Paine hadadvanced well down the pitch

by the time the ball struck hispad.

Although the Englishdropped a couple of sharpchances, they also held twomagnificent catches. OpenerBrad Haddin (27) was superblycaught by an alert Steve Finnand Matthew Prior took a clas-sic on the mid-wicket boundaryto remove Mitchell Johnson for26 from the bowling of JamesAnderson (3-48). Prior leaptbackwards as he retreatedtowards the boundary to snarethe catch well above his head.

Despite their spectacular win,White claimed his team couldproduce a better performancefor the upcoming World Cup,“It’s been very good but I stillthink there is another level thatwe can take it to, and need to,for a tournament like the WorldCup,” White told Reuters.-Reuters

Australia completeEngland annihilation

NEW DELHI: India's onlyWorld Cup winning captainKapil Dev has some advice forMahendra Singh Dhoni: Beaggressive as a captain and getback that ruthless batting ofyour early days as an interna-tional cricketer.

Kapil's team, which won the1983 World Cup to bring abouta sea change in Indian cricket,wants Dhoni to be a moreaggressive batsman. Kapil haspaid a handsome complimentto Dhoni's side, saying they arefar more talented than hisDevils. He has a rider, though:They will have to work veryhard to win the Cup in the tour-nament beginning on the sub-continent Feb 19.

"I think the current team hasmore capable players than wehad. Even if they fall short onthe bowling and fieldingfronts, the batting is strongenough to make up for the rel-atively weaker aspects. Afterall, one-day cricket is a bats-man's game," Kapil told in aninterview.

"My heart says they shouldwin, but my mind says that it isnot going to be easy and theywill have to work very hard tosucceed. They have everythinggoing for them and they are inan excellent position to win itat home. They should go allout for it."

Kapil strongly feels thatDhoni should go back to his

power hitting that destroyedmany an attack when he firstcame into the Indian side.

"I am a tad disappointed withDhoni's approach to batting.When he came into interna-tional cricket, his batting wasall power hitting, there wasunbridled ruthlessness aboutthe way he went after thebowling. That is missing andtoday he nudges and pushesthe ball more. I understandwith time you change yourstyle, but the tempo should bemaintained. I want to see amore aggressive Dhoni in theWorld Cup.

"As for his captaincy, Dhonihas all the traits of a goodleader. He is bold and is not

afraid of handling tricky situa-tions. All in all, he has a lot ofplus points."

Kapil, however, is uncom-fortable with the "Mr Cool" tagon Dhoni and insists that a cap-tain should not only be aggres-sive but should also be seen tobe aggressive.

"I don't like this 'Mr. Cool'tag. A captain should be hardand strong-willed as a lot ofyoungsters in the team look upto him. He should be coolwhen handling the pressureand interacting with the media.But in the dressing room andon the field, a captain has to beaggressive," he said.

Coming to the team, Kapil isclear that there should have

been an extra wicketkeeper asa cover for Dhoni.

"We do not have any back-upwicket-keeper for Dhoni.Looking at the squad I get wor-ried, what if he gets injured? In1983 we had Yashpal Sharmaand in recent years RahulDravid, both efficient behindthe stumps."

Kapil is pretty happy withthe batting line-up and feelswith six big hitters they shouldbe dominating the opposition.

"Batting is our strength -Yusuf Pathan, Dhoni, VirenderSehwag are all big gamechangers. Not very far behindare youngsters Virat Kohli andSuresh Raina. Then there isSachin as the backbone and he

knows how to pace a 50-oversgame. Come to think of it, wehave six big hitters who canruthlessly go after any attack inall forms of the game," he said.

"The biggest advantage isplaying at home, not in SouthAfrica or Australia. They havepitches and conditions to suittheir game. If even three out ofour six batsmen perform, wecan rustle up a score of 300plus, which is good to defendon the sub-continental pitches.

"In bowling, I agree we donot have a Brett Lee or a DaleSteyn, but we have a decentattack. We have two batsmen-spinners and most of the seniorshave the experience of playingin the World Cup.-Agencies

DHONI ADVISED AGGRESSIVE SKIPPERSHIP

KARACHI: Banned formercaptain Salman Butt expresseddisappointment and vowed tochallenge the InternationalCricket Council (ICC) verdictin the Court of Arbitration forSports (CAS). Salman, whowas handed a 10-year sanction,five of which are suspendedafter the ICC banned the playerover his role in spot-fixing,returned from Doha yesterday.

“I’m very disappointed bythe decision which was unfair,”said Salman. “I’ll challenge thedecision and I’m hoping myban is reduced.”

The ICC tribunal, led byMicheal Beloff, handed thesanction to Salman besidesannouncing a seven and five-year exile from cricket forMohammad Asif andMohammad Amir respectivelyafter they were found guilty inthe hearing held in Doha lastmonth.

Salman said he would pre-pare his course of action aftergetting a detailed report on thedecision.

“We will get the details of thejudgment in a few days afterwhich I’ll appeal,” said the 26-

year-old.The tribunal has given the

banned trio 21 days to appealagainst the verdict.Mohammad Amir’s lawyerShahid Karim alreadyannounced that the fast-bowlerwill challenge the decision.

‘Trio unlikely to get reprieveeven at the CAS’

Meanwhile, a lawyer, whowas part of Salman’s legalteam before the Doha hearing,feared that the players’ attemptwill prove futile.

“I think the CAS will notgive any respite to the threeplayers,” the lawyer told TheExpress Tribune. “The Dohahearing was the ideal chancefor the players to get off and Idon’t see the CAS would enter-tain them now.

“The tribunal had gatheredstrong evidence against thethree players and there is verylittle chance that the CAS willlet them go.”

The lawyer, however, termedthe decision harsh irrespectiveof the evidence against the trio.

“I think a hefty fine and astrict warning would have beenenough.-Agencies

Salmanwill appeal

against verdict

MADRID: Lionel Messi hit ahat-trick as Barcelona made his-tory by winning a record 16thsuccessive Spanish Leaguematch to beat the previous bestof Alfredo Di Stefano’s 1960-1961 Real Madrid.

Messi scored all the goals inthe 3-0 win over Atletico Madridat Camp Nou. Argentine Messiwaltzed through the Atleticodefence to give Barcelona thelead in the 17th minute and, afterwasting a further chance, hepounced again in the 28thminute.

Atletico came out of their shell

at the start of the second half butit was Barcelona who had thecutting edge with Messi scoringagain from close range 11 min-utes from time.

“We wouldn’t be were we areif it wasn’t for Messi in ourteam,” said Barcelona coach PepGuardiola. “Without him wewouldn’t have won so comfort-ably. Real Madrid won 15because they had Di Stefano. Wehave now won 16 because wehave Messi,” added the coach.

Meanwhile, Atletico coachQuique Sanchez Flores was alsofull of praise for Messi.

“He is the best player I haveseen – the Di Stefano of the 21stcentury. It was an amazing per-formance from Barcelona, theyare the number one side andhave the capacity to hypnotisethe opposition, “said Flores.

In other matches, a fineValmiro Valdo finish gaveLevante a shock 1-0 win overVillarreal while Athletic Bilbaoleapfrogged Espanyol into fifthplace with a commanding 3-0victory over 10-man SportingGijon. The Basque side took fulladvantage of Espanyol’s 3-2defeat to Almeria.-Reuters

Barcelona set16-win record

LAHORE: PCB terms the ver-dict against the 3 players asregrettable and a sad realitywhich must be faced. PCB hasfull confidence in the processfollowed by the tribunal culmi-nating in the sanctions on the 3players under the ICC AntiCorruption Code.

According to PCB MediaDepartment, in August 2010,when this issue surfaced the 3players were under contractwith PCB. As their employer,PCB provided them with legalsupport in U.K at that time.

However, after they wereprovisionally suspended byICC under the Anti CorruptionCode, the players had to facethe tribunal in their individualcapacity. PCB thereafterimplemented the clause 4.6.4of the ICC Anti CorruptionCode which states that noplayer may play, coach or oth-erwise participate or beinvolved in any capacity in anyInternational Match or anyother kind of match, function,event or activity during theperiod of ProvisionalSuspension.

Chairman PCB Ijaz Butt said'The time from August last

when spot-fixing came to light,has been an extremely painfulone for Pakistan cricket. I nowhope that this unfortunate sagais put to rest and we can con-centrate on cricket. We willcontinue to work with ICC onthis sensitive matter in futurealso. We will also see how wecan help the 3 players withtheir education and rehabilita-tion program.'

Under the ICC AntiCorruption Code, the appealbefore the Court of Arbitrationfor Sports (CAS) has to be filedwithin 21 days by the players.PCB itself has no intention toappeal against the decision ofthe tribunal in the CAS.

The PCB is determined toensure the threat of corruptionis dealt with severely and willdo everything in its power toensure the integrity of cricket isprotected. Butt said, "Like allmy colleagues in the ICC I amdetermined to maintain theintegrity of our sport. This isfundamental"

PCB will make further com-ments (if required) afterreviewing the detailed judg-ment of the Anti CorruptionTribunal.-Online

PCB termsICC rulingregrettable

Performanceof Pak squadsatisfactory,says Waqar

ISLAMABAD: With theWorld Cup round the corner,coach Waqar Younis is pleasedwith the recent performance ofPakistan cricket team, sayingthe performance of the outfit is"satisfactory."

Pakistan have found thegoing tough for quite sometime, even without the off-fieldcontroversy they continuallyseem to face, but coach Younisis hopeful that the successfultour of New Zealand will marka turning point.

Before this tour Pakistan hasnot won a Test series since2006 and a one-day seriessince 2008.

"Yeah, I'm pretty pleasedbecause it has been a whilesince Pakistan won anything,almost three years for a one-day series and quite a fewyears since we won a Testseries. So, it's definitely satis-fying," TV New Zealandreported on Monday.

"I always say that theamount of controversies wehave had over the last eight ornine months, we needed some-thing like this. We needed todevelop our team again, weneeded to bring the teams backinto Pakistan and the only waywe can do it is if we start play-ing well," he said.

"I think this is one reasonwhy we played well.Hopefully in the future we willtry to play the best cricket wecan."-APP

Pontingoptimisticof playingWorld Cup

MELBOURNE: Australiacaptain Ricky Ponting said onMonday he was confident hewould be fit to play in thismonth's World Cup despite arecent finger injury.

Ponting, who missed the finalAshes Test and the entireseven-match one-day seriesagainst England after surgeryfor a broken little finger, saidthe injury was improvingquickly.

"It's a lot better now than itwas last week," Ponting said atthe Allan Border Medal presen-tation in Melbourne.

"I've been back in the netsthis week, I've had three goodhits, a bit of time out there, soit's actually probably a bit fur-ther advanced than I thought itwould be."

Australia go into the WorldCup, to be played in India, SriLanka and Bangladesh, insearch of a fourth consecutivetitle.

Ponting said he had endured afrustrating month on the side-lines, but believed the way theteam had performed in hisabsence, thrashing England 6-1in their ODI series, showedthey were ready to defend theircrown.

"I'm really proud of the waythe boys have played in the lastfew weeks, Michael (Clarke)led the side well and Cameron(White) led the side really wellin Perth and we did start to geta few guys back to full fitnessat the right time," he said.

"We've still got a few injuryworries, but hopefully by themiddle of this month and earlyMarch we'll be on the righttrack to winning a WorldCup."-Reuters

PERTH: Australian Team Celebrates after winning the series against England atthe completion of their one day international cricket match at the WACA.-Reuters

11Tuesday, February 8, 2011

International & Continuation

CONTINUATION

NEW DELHI: India'seconomy, Asia's third-largest and a driver of theworld recovery, is expectedto grow 8.6 percent in theyear ending in March, but atthe risk of high commodityprices widening the tradegap and exacerbating infla-tion.

The government estimatecomes after a Reuters polllast month forecast theeconomy would grow 8.7percent in the current fiscalyear and 8.5 percent in theyear that ends March 2012.

Prime MinisterManmohan Singh said lastweek rising prices were aserious threat to growthmomentum, underscoringthe worries of policymakersabout headline inflationabove 8.4 percent, driven bystubbornly high food prices.

India is the second fastest-growing major economy inthe world, after China, andboth countries are battlinginflation.

India's trade gap and fiscaldeficit also cloud the out-look for an economy that,along with China's, has beena key driver of recoveryfrom the global downturn.

The trade gap hit a 23-month high of $13 billion inAugust as imports backedby rising domestic demandfar outstripped exports,which were crimped bysluggish recovery inadvanced markets, but itshrunk to $2.6 billion inDecember.

Trade Secretary RahulKhullar has said that ifglobal crude and commodi-ty prices rise, the tradedeficit in the January-Marchquarter could widen again.

"I am happy with the 8.6percent growth. But there

are other concerns apartfrom GDP. My main con-cerns are inflation and thetrade gap," Finance MinisterPranab Mukherjee toldreporters.

In the fiscal year thatended last March, India'sGDP rose 8 percent, up from6.7 percent in the fiscal yearthat ended in March 2009.

India's chief statistician,T.C.A. Anant, said risingglobal crude oil prices hadput pressure on India's fiscaldeficit, although he expectsthe government to meet itstarget of keeping the fiscaldeficit to 5.5 percent ofGDP this fiscal year.Rising crude prices threatento add to the government'sfuel-subsidy burden.

India's expected GDPgrowth this fiscal year willbe helped by a rebound inagriculture, which is expect-ed to grow 5.4 percent ongood monsoon rains afterexpanding by just 0.2 per-cent a year earlier followinga severe drought.

The full-year outlookimplies a slowdown in fiscalfourth-quarter growth toabout 8 percent year-on-year, a four-quarter low,according to DariuszKowalczyk, an analyst atCredit Agricole-CIB inHong Kong.

The expected January-March quarter moderation"would provide hope forslowdown in demand-pulledprice pressures",Kowalczyk said in a note.

Bond yields, swap ratesand the rupee were littlechanged after the release ofthe data on Monday.

The strong growth in agri-culture is expected despiterecent shortages in vegeta-bles, such as onions and

potatoes, which have led tohigh food inflation spillinginto the broader economy.

RATE RISES India's central bank, the

Reserve Bank of India, hasraised interest rates seventimes since March, althoughmonetary policy is expectedto have only a limitedimpact on reining in supply-side driven food inflation.

Rising interest rates,meanwhile, have taken atoll on manufacturing,which is expected to growby 8.8 percent this fiscalyear, down from nearly 11percent growth a year earli-er.

"You have to look at man-ufacturing, which at 8.8 per-cent is beginning to showcapacity constraints andprice pressures, which couldbe a drag on growth goingforward," said N.Bhanumurthy, senior econo-mist with the NationalInstitute of Public Financeand Policy.

The manufacturing sectorgrew at 13 percent in theJune quarter and nearly 10percent in the Septemberquarter, thanks to robustdomestic demand, as Indiacame out of the globalfinancial crisis much fasterthan many other economiesaround the world.

Core sectors in industrylike mining and construc-tion, which tend to reflectthe health of the overalleconomy, are expected togrow at 6.2 percent in thecurrent fiscal year.

India's industrial growthslumped to an 18-month lowin November to 2.7 percentbut PMI data in Indiashowed manufacturing grewat a slightly faster pace inJanuary.-Reuters

India on trackto grow 8.6pc

this fiscal

UAEeconomicgrowth totop 3pc in

2011: CbankABU DHABI: The UnitedArab Emirates economy shouldgrow by more than 3 percentthis year and its banking sectoris able to weather difficulties inthe foreseeable future, a centralbank official said on Monday.

The second-largest Arabeconomy was hit by Dubai'sdebt woes last year and thecentral bank's growth forecastfor this year would be wellbelow rates seen before theglobal financial crisis.

However, the economic out-look has been boosted by risingoil prices and after DubaiWorld, Dubai's flagship con-glomerate, sealed a deal torestructure $25 billion in debtin September.

"Economic growth is expect-ed to be over 3 percent thisyear, led by a rebound intourism and other services thathave great potential for moreexpansion in the future," Saifal-Shamsi, senior executivedirector of the UAE centralbank's treasury department,said at an event.

Before the financial crisis hit,the UAE economy expanded6.2 pct in 2007 and 7.4 pct in2008, according to the NationalBureau of Statistics.

Giyas Gokkent, chief econo-mist at National Bank of AbuDhabi, forecasts economicgrowth of around 4 percent thisyear.

"The UAE economy mightgrow faster in 2011, I expect apossible rise in oil output prob-ably in the second half in2011," he said.

Shamsi also said that UAE'sgross domestic product nowstood at more than $300 bil-lion. The nominal GDP was914.3 billion dirhams ($248.9billion) in 2009, according togovernment data.

Analysts polled by Reuters inDecember expected the UAEeconomy to expand by 3.6 per-cent in 2011 after an estimated2.3 percent expansion in 2010.The UAE has yet to release2010 GDP data. -Reuters

"I have suggested to them (India) to let us work out an agenda whichaddresses outstanding issues between India and Pakistan, becauseunless we address them, we cannot have lasting peace in the region."

"We want peace and good neighborly relations with India. Myexpectation is to make both countries realise that dialogue is theonly way forward, and, our issues can only be resolved if we sittogether and talk to each other and look for a peaceful, negotiatedsettlement." We should resume the composite dialogue, whichwas going on for the last four years but was broken after theMumbai attacks," he added.-Online

Continued from page 12No #1

However, Kasab's lawyer Amin Solkar pleaded that the judg-ment may be pronounced on February 28 as he was going abroadand would not be able to remain present on February 21.

The judges expressed their inability to consider his request anddecided to give the verdict on February 21. On May 6 last year,the trial court had sentenced Kasab to death after holding himresponsible for the 26/11 Mumbai terror attacks, which left 166dead and many more wounded. Under the law, death sentenceawarded to an accused by trial court comes up before the highcourt for confirmation. -Online

Continued from page 12No #2

"Direct payment to India from Iran for rice is becoming a majorproblem due to global sanction there," said Vijay Setia, president ofthe All India Rice Exporters' Association. Iran is one of the mainbuyers of the aromatic rice for India, the world's top producer. Iranand Saudi Arabia buy around $1.5 billion worth of basmati rice ayear from India, roughly half each, traders say. India's total annualbasmati exports are about $2-3 billion and basmati rice makes uparound 5 per cent of India's total rice production.

Although United Nations sanctions do not forbid buying Iranianoil, the United States had pressed hard for governments and com-panies to stop dealing with Tehran. Many oil majors and banks haveabandoned their dealings with Iran since last year. Setia saidincreasing competition from Pakistan, another major producer ofbasmati, and concerns raised in Europe on pesticide residues werealso hitting overseas sale of basmati. India is likely to produce4.5-5.0 million tons of basmati rice in 2010/11 on a normal mon-soon against 4.0-4.5 million tons a year ago when the lowest rainssince 1972 had hit output of the grain, he said.-Reuters

Continued from page 12No #3

Meanwhile Muttahida Qaumi Movement (MQM) Chief AltafHussain condemning the blast has demanded the government totake serious action against Karachi blasts. Hussain has alsodemanded to arrest culprits involved in the recent blasts inmetropolis. MQM chief said that serial blasts in Karachi is a chal-lenged for law enforcement agencies. Sindh Chief Minister SyedQaim Ali Shah has also taken notice of the blasts demandingpolice officials to submit the reports immediately.

Meanwhile, the bomb disposal squads have handed over the initialreport of two consecutive bomb explosions outside the two separatepolice stations. According to report, 4-kilogram explosive materialwas used in the bombs. The explosive material was packed in plas-tic boxes. Time device or mobile phone was used in the bombs.

Continued from page 12No #4

Judicial officials also promised to start the questioning onTuesday of three former ministers and a senior ruling party offi-

Continued from page 12No #5

Climate-induced migration will affect poor and vulnerable peo-ple more than others," said Bart W des, Director of ADB's PovertyReduction, Gender, and Social Development Division.

"In many places, those least capable of coping with severeweather and environmental degradation will be compelled tomove with few assets to an uncertain future. Those who stay intheir communities will struggle to maintain livelihoods in risk-prone settings at the mercy of nature's whims," Edes said.

On the positive side, the report says that if properly managed, cli-mate-induced migration could actually facilitate human adaptation,creating new opportunities for dislocated populations in less vulner-able environments. -Agencies

Continued from page 12No #6

He said initially federal and provincial governments kept blamingeach other and now the pressure is shifted on the courts. -Online

Continued from page 12No #7

Sources added that restlessness is prevalent among PML-N leadersover the non-serious attitude of PPP government and they say thatPPP government is still following the 'Waste Time' policy. Sourcessaid during the meeting decision would be made to oust PPP govern-ment from Punjab government in case the Center fails to change theircallous attitude within 15 days. However, the proper announcement inthis regard would be made during the central executive committeemeeting, after the completion of 45 days deadlines.-Online

Continued from page 12No #8

cial accused of corruption charges after they were dismissed byMubarak last week. The cabinet reshuffle was intended to placateprotesters by removing some of the most hated officials in thegovernment. The official Middle East News Agency said formerTourism Minister Zuhair Geranah would be questioned Tuesdayalong with the former ministers of housing and trade.

MENA also reported that the country's top prosecutor hadimposed a travel ban on former Interior Minister Habib al-Adliand froze his bank account. Protesters on the square Monday saidthey remained unsatisfied. "Our main objective is for Mubarak tostep down," said student Mohammed Eid. "We don't accept anyother concessions." Cairo, however, seemed Monday morning tobe closer to its normal weekday routine than on any day since theJan. 25 start of the unrest.

Banks were open for limited hours along with many shops. Thestock market announced it would reopen next Sunday, thoughschools were still shut for the mid-year holiday. Traffic wasreturning to ordinary levels in many places and the start of thenighttime curfew has been pushed an hour later to 8 p.m.

Rami Ghoneim, an unemployed internet activist, said the protest-ers were in no rush to leave so long as their central demand was notmet. The more they stay, he said, the more concessions the regimewould offer. "It is like a wound, the more you press on it the moreblood gushes out. We will press until we empty it," he said.

prosecuted by Respondent Province with visible political objectivesand, at the same time, his trial is being cunningly portrayed as enforce-ment of "equality before law" in terms of Article 25.-Agencies

Continued from page 1No #9

not been provided, construction work on the project would havevirtually come to a stand still due to paucity of funds throughPublic Sector Development Programme (PSDP).

Continued from page 1No #10

consulting with coalition partners. News agency has exclusively learnt from sources that after longmutual consultation between the President and the premier, it is agreed to devise new federal cabi-net in two phases and to restrict its volume to 20 ministers in the first phase of rightsizing.

Sources told PM is expected to dissolve his cabinet after the cabinet meeting to be held onWednesday. Currently the cabinet consists of 42 Federal Ministers, 18 State Ministers and 2 advisors.The allied government parties have already asked for two more days for finalizing the name of their'would be' ministers to be included in the new cabinet. Names of the ministers from PPP who havesucceeded to be part of the new federal cabinet in first phase include Chaudhry Ahmed Mukhtar, ShahMehmud Qureshi, Rehman Malik, Qamar Zaman Kaira, Raja Pervez Ashraf, Nazar MuhammadGondal, Hafeez Sheikh, Dr. Babar Awan, Naveed Qamar, Syed Khursheed Shah and Hina RabbaniKhar. One or two ministers from the coalition partners would be taken in the first phase, sources toldadding that more portfolios are expected to be given to coalition parties in second phase. -Online

Continued from page 1No #11

agricultural policy, Pakistan has become self-sufficient in agricultural products and is exportingwheat. PM announced drainage system and drinking water projects for Gularchi and constructionof grid station in Tando Bago. PM inaugurated a new 132-KV grid station in Gularchi and upgrada-tion of 66-kv grid station to 132-kv in Badin. The two projects were completed in 11 months at acost of 814 million rupees. The projects will improve power supply system in Badin, Gularchi,Tando Muhammad Khan and adjoining areas. Prime Minister Gilani declared that the PPP believesin trichotomy of powers and there would be no confrontation if all state institutions perform func-tions within their constitutionally defined role. "Any confrontation among state institutions wouldbe disastrous for the country and nothing would be left", the Prime Minister said.

Syed Yousuf Raza Gilani assured that the PPP would strictly adhere to the Constitution as it is theparty that gave this document to the nation. He said the Government has restored the original 1973constitution given to the nation by Shaheed Zulfiqar Ali Bhutto. He said the PPP is taking all polit-ical forces along as per its policy of reconciliation. He said under this policy the Government is seek-ing guidance from all political forces which is reflective of its commitment to give due respect tothe opposition. He said the opposition has its own role to play but the Government is treading itspath cautiously and making only those commitments that it can fulfill.

Prime Minister said being symbol of the federation, PPP is committed to safeguard rights of alldown-trodden segments of the society.He said it is for the first time that the present Governmentdevolved powers and finances to the provinces in line with its pledges to strengthen provincialautonomy and make people of the provinces masters of their destiny. Syed Yousuf Raza Gilani saidthe present Government decided ownership of one of the world's largest coal reserves in Thar to theSindh Government, which would help transform lot of the people.-Agencies

Continued from page 1No #12

submitted in the court. According to the report, she neither received any call nor she phoned fromher set from 3:00pm till she was attacked on December 27, 2007. The report further revealed BenazirBhutto even did not contact her husband, Asif Ali Zardari during that time. Arguing on the bail appli-cations of former CPO Saud Aziz and SP Khurram Shahzad, defence lawyer Malik Wahid Anjumsaid that there is no convicting evidence of the accused upon which they can be detained.

He said that Saud Aziz and Khurram Shahzad were kept on a 24-day physical remand but theinvestigation team was not able to produce substantial evidence. -NNI

Continued from page 1No #13

throughput. During 7MFY11, ATRL and NRL throughput increased by a significant 20 per centand 38 per cent YoY to 871K and 972K tons, respectively.

On the other hand, PARCO (Pakistan's largest refinery) throughput declined on account of amonth-long shutdown caused by devastating floods whereas due to revamping and circular debtissues BYCO production remained on the lower side. During 7MFY11, despite reduced throughputPARCO continues to lead the pack with the market share of 34 per cent, followed by NRL, ATRLand PRL at 22 per cent 20 per cent and 19 per cent, respectively.

BYCO market share only stood at 5.2 per cent, for the period under review.Product-wise break up shows that FO and HSD which contribute 40 per cent and 31 per cent share,

in industry production, their production declined by 6 per cent and 8 per cent, respectively.

Continued from page 1No #14

that described the discussions as "useful and frank"."They affirmed the need to carry forward the dialogue process," the statement said. The talks in

Thimphu took place on the sidelines of a South Asian Association for Regional Cooperation (SAARC)conference. Furthermore, India Monday said the meeting between Indo-Pak Foreign Secretaries hadlaid a ''solid foundation'' for sustained engagement aimed at building ''bridges of trust and mutual con-fidence''. Arriving here to attend the 33rd meeting of SAARC Council of Ministers, External AffairsMinister S M Krishna described Sunday's meeting between Foreign Secretary Nirupama Rao and herPakistani counterpart Salman Bashir as part of a process of engagement which is being taken forwardas per the direction of Prime Ministers Manmohan Singh and Yousuf Raza Gilani.

"The genesis of all this was the Prime Ministers, when they met in Thimphu, they mandated theForeign Ministers and Foreign Secretaries to bridge the trust deficit between the two countries. -Agencies

Continued from page 1No #15

$438.87 PMT C&F basis.TCP said that the bidder has assured to ship complete quantity by February 28, 2011. The rates

received in this tender are in consonance with the prevailing international market prices of urea.As per tender terms and conditions, urea shipments would start within one week of the opening of

Letter of Credit by TCP in favour of the successful bidder.It may be noted that the Economic Coordination Committee (ECC) of the Cabinet had directed

TCP to ensure supply of urea during Rabi crop through open market tender and through Saudi BasicIndustries Corporation (SABIC).

TCP is also arranging import of urea through SABIC against $100 million credit grant of SaudiFund for Development. SABIC has also agreed to supply 60,000 MT urea by end February, 2011.

The distribution, transportation and bagging of Urea will be handled by National FertilizerMarketing Limited (NFML) to provide the Urea to farmers in time to meet their Rabi require-ment. -Agencies

Continued from page 1No #16

the meeting that dialogue process would be started soon. He hoped, It would be result oriented,"Abdul Basit said in a brief telephonic talk with a private TV channel.

He said, "Now Pak-India are thinking seriously that how to start dialogue process and how to makeit successful." The Spokesman said that resolving of issues with India would be beneficial for ourcountry's sovereignty and prosperity. He urged both countries to resolve all issues which are causeof conflict between two nations such as Kashmir issue, Terrorism etc. -APP

Continued from page 1No #17

Release of $20 million to Wapda is a vital development towards completion of Gomal Zam DamProject. It is pertinent to mention that the project is at the advance stage of completion and is expect-ed to be completed during 2011. Gomal Zam Dam is a multi-purpose project being constructed inSouth Waziristan Agency of Federally Administered Tribal Area (FATA). The project aims at ensur-ing availability of irrigation water for agriculture, controlling floods and providing low-cost hydelelectricity. On its completion, Gomal Zam Dam will store 1.14 million acre feet of water to irrigate163,000 acres of land. The project will provide 17.4 megawatts of electricity to power 25,000 house-holds. Gomal Zam Dam Project will also help mitigate an estimated $2.6 million of potential flooddamage annually. -Online

The Chief Justice observed that the SBP was thinking that the court did not know anything."Tell us about certain people who had got their loans written off and are now dying of hunger. You

let the influential people off the hook and only tighten your noose around the poor people" he added.He asked the counsel to provide details regarding cancellation of licence of any bank for violation

of the rules and regulations. Justice Muhammad Sair Ali asked him to provide information aboutlegal action taken against any bank for writing off loans illegally or against a defaulter.

He said that in most cases, the loans were written off on political basis.Justice Ramday told the counsel that under Section 40-A of the Banking Companies Ordinance

1962, the SBP had the responsibility to safeguard interests of the depositors.He said under the Section 41, it was the responsibility of SBP to supervise whether any bank was

working against the public interest. He observed that the SBP's approach to deal with the issue hadfailed. Chief Justice said that it was national wealth which should be recovered at all cost.

He also hinted that the apex court would go to every extent for the recovery of the amount irre-spective of how much a person was influential.

He said there was a democratic set-up in the country and the government could legislate overrecovery of the waived off loans. Further hearing was adjourned till February 14. -Agencies

Continued from page 1No #18

It is worth mentioning that Karachi Stock Exchange has the major shareholding of 39.8 per centin the country's only depository company i.e. CDC.

Hussain Lawai is currently the President and Chief Executive Officer of Summit Bank Limited(formerly Arif Habib Bank) and is the ex-CEO of MCB Bank.

Continued from page 1No #19

present.According to a member who was present at the meeting, SECP chief briefed the members about

his future plans.He said that SECP had received the approval of MTS from the law ministry and the apex regula-

tor would send the final draft of MTS to KSE within the next two days.He also said that SECP wants the product to start functioning by the end of February 2011.Further, SECP chairman also addressed the inaugural meeting of the KSE Board of Directors

where he discussed the ways for market development including leverage product.According to sources, KSE BoD in its first meeting elected Muneer Kamal as the Chairman KSE

for the CY 2011.It should be noted that Muneer Kamal is also Vice Chairman of KASB Bank Limited.

Continued from page 1No #20

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Fazl rejectsoffer to joinnew cabinetDERA ISMAIL KHAN:Jamiat Ulema-e-Islam (F)Chairman, Maulana Fazlur-Rehman has hinted at not join-ing new cabinet and saidbecause of duplicity of rulingparty, we are sitting on opposi-tion benches.

While announcing the JUI-F'scandidate for the by-election onTank's provincial constituency(KP-69) here in Bitini House,he said unrest prevails amongthe nation pertaining to amend-ment in the blasphemy law.

He said Sherry Rehman hasverbally withdrawn the amend-ed bill contrary to the fact thatit has been submitted inNational Assembly Secretariat.

Pertaining to the issue ofAmerican citizen RaymondDavis, Maulana was of theview that circumstances arevague, as no one knows abouthis actual name, passport andeven about his status whetherhe is a diplomat or not.

See # 7, Page 11

'N' meetingtoday

ISLAMABAD: PML-N ChiefNawaz Sharif has summoned aconsultation meeting on 10-pointagenda here Tuesday (today).

As per media reports, SenatorIshaq Dar, Mehtab Abbasi,Senator Pervez Rashid and AbdulQadir Baloch will brief abouttheir discussions on 10-pointagenda with the governmentteam and reasons for non-progress on implementation ofany point on the agenda.

See # 8, Page 11

MUMBAI: Bombay High Court Monday said it would deliverits verdict on February 21 on confirmation of death sentenceawarded to Pakistani terrorist Ajmal Kasab for his role in the26/11 terror attacks and also on his appeal against his conviction.

Justice Ranjana Desai and Justice R V More said theywere ready with the judgment even today but because ofbulky paperwork and heavy compilation they would pro-nounce the verdict a fortnight later, reported PTI.

On the same day, high court would also pronounce itsjudgment on the appeal filed by Maharashtra

Government challenging acquittal of co-accusedFaheem Ansari and Sabauddin Ahmed in the same case.

The trial court had set them free on the ground that evi-dence against the duo was doubtful.

The judges today asked Government CounselUjjwal Nikam to make arrangements for video confer-ence link in the court for Kasab on February 21, incase he wanted to hear the verdict from the ArthurRoad Central jail where he is lodged.

See # 2, Page 11

Feb 21: Kasab Verdict Day

Staff Reporter

KARACHI: Two blasts took placeoutside two separate police stations sit-uated in city's busiest area Lee Marketand Malir injuring five people, includ-ing CID policeman.

Two persons injured in Lee Marketblast. Both injured have been shifted toCivil Hospital.

According to the reports, the firstblast occurred behind Eidgah policestation in Lee Market, causing the wall

of police station to collapse, injuringtwo people there.

While the second blast occurred nearShah Latif Town on National Highwayin Malir causing collapse of police sta-tion wall, injuring three persons.

According to the police, they are stilltrying to ascertain the type of blast andaccording to their initial findings it couldbe a cracker blast. Police, law enforce-ment agencies and rescue teams rush tothe area and cordoned off the areas.

See # 4, Page 11

Khi twin blastsring alarm bell

ISLAMABAD: Governments in Asiaand the Pacific need to prepare for alarge increase in climate-inducedmigration in the coming years, says aforthcoming report by the AsianDevelopment Bank (ADB).

Typhoons, cyclones, floods anddrought are forcing more and morepeople to migrate; the report says,adding in the past year alone, extremeweather in Malaysia, Pakistan,People's Republic of China, thePhilippines, and Sri Lanka has causedtemporary or long-term dislocation ofmillions.

This process is set to accelerate incoming decades as climate changeleads to more extreme weather, itadded.

"No international cooperation mech-anism has been set up to manage thesemigration flows, and protection andassistance schemes remain inadequate,poorly coordinated, and scattered," the

report states.National governments and the inter-

national community must urgentlyaddress this issue in a proactive man-ner," it adds.

ADB expects to issue the report,Climate Change and Migration in Asiaand the Pacific, in early March as partof a broader ADB project aimed atincreasing awareness of, and enhancingregional preparedness for, migrationdriven by changing weather patterns.

The report highlights specific risksconfronting climate change "hotspots",including megacities in coastal areas ofAsia.

These hotspots of climate-inducedmigration face pressure from swellingpopulations as rural people seek newlives in cities, it said adding the prob-lem is compounded by greater dislo-cation of people caused by floodingand tropical storms.

See # 6, Page 11

Asian Dev Bank says world needs to act

ADB sees climatemigration on rise

ISLAMABAD: Pakistan hasproposed to GCC states the set-ting up of a formal 'securitybloc' to combat any external orinternal threats in the region,said Foreign Minister ShahMehmood Qurehi.

"The strategic partnership willalso ensure food safety, eco-nomic development and thesecurity of the countries whichwill be part of the security bloc,"said Qureshi in an exclusiveinterview with Gulf News inIslamabad.

He said that the GCC stateshave accepted his request tohold a 'Pakistan-GCC StrategicDialogue' in Jeddah next monthto discuss the issue of a strate-gic partnership.

He said Pakistan and GCCcountries can complement eachother well due to their closeproximity and common inter-ests.

"This partnership will be awin-win situation for all asPakistan is rich in food produc-tion while GCC countries arerich in energy resources. Wecan fulfil food needs and actu-ally feed the GCC states byoffering partnerships in the

agriculture sector as Pakistanhas a lot of agriculture landwhich can be better utilisedwith the investment and tech-nology from Gulf countries,"Qureshi explained.

Also, he said, Pakistan has akeen interest in the security ofthe UAE and other Gulf coun-tries. "We will stand by Gulfcountries in case any securitysituation arises. Pakistan getsaffected if there is any securityproblem in any of the GCCstates because millions ofPakistanis are also working inthese countries and contribut-ing massively to the economicdevelopment."

On whether Iran will beoffended by this "strategic part-nership", Qureshi noted that theinitiative is not aimed againstanyone.

Meanwhile, Qureshi saidthat he would like his coun-try to be at peace with India,added while he is lookingforward to his visit to India;the trip must be meaningfuland should address all out-standing issues construc-tively.

See # 1, Page 11

Pakistan-GCC strategic bloc proposed

Pak wishesto talk allissues out,says FM

10-pt agenda

Cairo: Egyptian anti-Mubarak protesters in Tahrir Square, Cairo. -Reuters

CAIRO: Egypt's embattledregime announced Monday a15 percent increase in salariesand pensions in the latestattempt to defuse popularanger amid protests demand-ing President Hosni Mubarak'souster.

The cabinet decision followsearlier promises to investigateelection fraud and official cor-ruption, which have done littleto persuade the tens of thou-sands occupying downtown'sTahrir Square to end their two-week long protest.

State TV also announcedthat the family of a detainedGoogle Inc. marketing manag-er who helped organize theanti-Mubarak demonstrations,"has been notified that he will

be released this evening."Wael Ghonim was one of the

most prominent youth organiz-ers of the protests and wasseized by security agents onJan. 28.

Newly appointed FinanceMinister Samir Radwan sayssome 6.5 billion Egyptianpounds ($960 million) will beallocated to cover the increas-es, which will take effect inApril for the 6 million peopleon public pay rolls.

In the past, public sectoremployees have been a pillarof support for the regime, butin recent years as prices havesoared, their salaries havestagnated in value forcing thegovernment to periodicallyannounce raises to quell dis-

satisfaction.Following widespread labor

unrest in public sector facto-ries in 2008, Mubarakannounced a 30 percentincrease in prices thatappeared to temporarily bluntpublic anger.

After the two weeks of insta-bility that has pushed the Arabworld's most populous nationto the edge of anarchy, the cri-sis now appears to be settlinginto kind of stalemate, with thegovernment offering minorconcessions that dodge theprotesters' central demand:Mubarak's departure.

The regime appears confi-dent in its ability for themoment to ride out theunprecedented storm of unrest,

and maintain its grip on power,at least until September elec-tions.

Egypt's state-run newsagency reported that Mubarakordered the country's parlia-ment and its highest appellatecourt to reexamine lower-courtrulings disqualifying hundredsof ruling party lawmakers forcampaign and ballot irregulari-ties, that were ignored by elec-toral officials - possibly pavingthe way for new elections.

The ruling NationalDemocratic Party won morethan 83 percent of the 518seats in the 2010 parliamen-tary elections, which werewidely condemned as beingrigged.

See # 5, Page 11

India riceexport seendown 10pc

NEW DELHI: A payments dis-pute with Iran which has hit oiltrade may also reduce India'sbasmati rice exports by around10 per cent in the current fiscalyear from a year ago to 1.8 mil-lion ton, an exporters' body said.

In December, India's centralbank said payments for Iraniancrude could no longer be settledusing a long-standing clearingmechanism in a blow to theIslamic Republic's $12 billion ayear oil business as global pres-sure on Tehran grows over itsnuclear program.

India has now resolved the dis-pute, an oil ministry source saidlast week, with New Delhi certify-ing deals to try to ensure funds donot go to Iran's nuclear program.

See # 3, Page 11

Egypt workers get 15pc raise

5kg explosives used; 5 injured

Mumbari Case:

Pressure mounts on Mubarak to quit as talks fail

Qureshi talks to Gulf News