International

Sharif shifted to hospital after heart attack

Rethink rehiring rules, SC to govt See on Page 12

Drone kills 5 in Datta Khel See on Page 12

*Crude Oil (brent)$/bbl 110.47

*Crude Oil (WTI)$/bbl 98.38

*Cotton $/lb 193.37

*Gold $/ozs 1,404.70

*Silver $/ozs 34.89

Malaysian Palm $ 1,091

GOLD (NCEL) PKR 38,435

KHI Cotton 40Kg PKR 13,396

Yearly(Jul, 2010 up to 15-Mar-2011)

Monthly(Mar, 2011 up to 15-Mar-2011)

Daily (15-Mar-2011)

Total Portfolio Invest (5-Mar-2011)

188.81

-7.13

-1.47

2851

-2.49

-1.30

4.65

-4.34

0.35

2.42

0.70

SCRA(U.S $ in million)

Portfolio Investment

FIPI (16-Mar-2011)

Local Companies (16-Mar-2011)

Banks / DFI (16-Mar-2011)

Mutual Funds (16-Mar-2011)

NBFC (16-Mar-2011)

Local Investors (16-Mar-2011)

Other Organization (16-Mar-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (5-Mar-11)

Inflation CPI% (Jul 10-Feb 11)

Exports (Jul 10-Feb 11)

Imports (Jul 10-Feb 11)

Trade Balance (Jul 10-Feb 11)

Current A/C (Jul 10- Jan 11)

Remittances (Jul 10 - Feb 11)

Foreign Invest (Jul 10-Feb 11)

Revenue (Jul 10 Jan 11)

Foreign Debt (Dec 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Jan 10)

LSM Growth (Jan 11)

GDP Growth FY10EPer Capita Income FY10Population

$17.37bn

14.33%

$15.33bn

$25.60bn

$(10.27)bn

$(81)mn

$6.96bn

$1.23bn

Rs 765bn

$58.39bn

Rs 5497.4bn

$338.2mn

0.83%

4.10%

$1,051

175.46mn

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

13.00

2.00

2.32

11.66

PKR/Shares

110.87

110.87

42.64

49.46

39.78

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

09-Mar-2011

09-Mar-2011

09-Mar-2011

29-Nov-2010

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

16-Mar-2011

13.39%

13.69%

13.86%

14.00%

13.38%

13.53%

13.74%

14.12%

14.26%

14.06%

14.10%

14.09%

14.50%

14.75%

14.93%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.30 85.30

Canadian $ 86.45 87.45

Danish Krone 15.80 16.00

Euro 118.60 120.00

Hong Kong $ 10.50 11.00

Japanese Yen 1.016 1.042

Saudi Riyal 22.63 22.83

Singapore $ 66.35 67.35

Swedish Korona 13.40 13.60

Swiss Franc 91.80 92.80

U.A.E Dirham 23.18 23.38

UK Pound 136.80 138.80

US $ 85.35 85.65

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 84.42 84.61

Canadian $ 86.38 86.58

Danish Krone 15.95 15.99

Euro 119.01 119.29

Hong Kong $ 10.93 10.95

Japanese Yen 1.029 1.031

Saudi Riyal 22.72 22.77

Singapore $ 66.63 66.79

Swedish Korona 13.29 13.32

Swiss Franc 92.85 93.07

U.A.E Dirham 23.20 23.25

UK Pound 136.82 137.14

US $ 85.28 85.47

Inter-Bank Currency Rates

Subscribe now

Tel: 92-21-5311893-6Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com

www.thefinancialdaily.com

CITIES MAX-TEMP MIN

ISLAMABAD 32°C 12°C KARACHI 40°C 21°C LAHORE 33°C 14°C FAISALABAD 33°C 16°C QUETTA 27°C 9°C RAWALPINDI 32°C 15°C

Weather Forecast

Index Close Change

KSE 100 11,794.57 34.67

Nikkei 225 9,093.72 488.57

Hang Seng 22,700.88 22.63

Sensex 30 18,358.69 191.05

ADX 2,600.32 14.39

SSE COMP. 2,930.80 34.55

FTSE 100 5,637.80 57.48

*Dow Jones 11,711.84 143.58

Global Indices

MQM grievances to beaddressed: CM Sindh

See on Page 2

BISHKEK: Prime Minister Syed Yousuf Raza Gilani exchanging view withKyrgyz minister of Foreign Affairs, R Kazakbaev in Bishkek. -APP

Raheel Amer

KARACHI: Yaseen Anwar,Deputy Governor, State Bankof Pakistan Wednesday dis-closed that over 400,000branchless/ mobile bankingaccounts have been openedcollectively by banks and morethan 10 million financial trans-actions took place during thepast one-and-a-half-year in thecountry.

Addressing the 4thInternational MobileCommerce Conference,Yaseen Anwar said "Throughbranchless banking, billions ofrupees of funds have beentransferred from person -to-person, account -to-account,account -to-person, person -to-account and government -to-people', he added.

He also stressed that banksoffering mobile banking serv-ices need to develop aggressive

marketing plans and cam-paigns to attract customers tovisit the agent location for theirbanking transactions.

SBP Deputy Governor saidvolume and value of overall e-Banking transactions in coun-try during the Oct-Dec 2010quarter reached 56.42 millionand Rs5.5 trillion respectivelyshowing an increase of 7.30per cent in volume and 17.47per cent in value compared tothe previous quarter.

He said market for fundtransfer and other bankingservices in Pakistan is not con-fined to rural areas only asurban locations also hold sig-nificant potential for manyaspects of financial services.

'To serve the needs of thislow income vulnerable seg-ment of society, living both inurban & rural areas, banks nowoffer branchless banking

See # 5 Page 11

SBP urges moree-banking plans

4th Int'l Mobile Commerce Conference

Over 0.4mn mobile A/Cs opened in 18mths

BISHKEK: Prime MinisterSyed Yousuf Raza Gilani onWednesday said Pakistandesires multi-faceted andvibrant ties with Kyrgyzstanfor the progress and prosperityof two countries.

In a meeting with KyrgyzPresident Roza Otenbayeva ather presidential office - WhiteHouse, the two leaders dis-cussed a whole gamut of issuesincluding bilateral trade, Pak-Kyrgyz strategy on energy andinfrastructure, Afghanistan sit-uation, regional and globalissues.

Prime Minister Gilani out-lined Pakistan's desire toimprove bilateral trade withKyrgyzstan for the benefit ofthe two nations that also sharea commonality of culture andtraditions.

He noted with satisfactionthat Pakistan's relations withthe Central Asian states includ-ing Kyrgyzstan were improv-ing.

He said the Gwadar deepseaport could serve as a hub oftrade for the region and urgedthe Kyrgyz government to alsobenefit from such potential.

Gilani said the signing ofJoint Declaration with theKyrgyz prime ministerTuesday would lead toenhancement of trade volumethrough the establishment ofJoint Business Council andmore cooperation between theprivate sectors.

President Otenbayeva saidthe two countries would begina new era of bilateral relationsthrough cooperation in diverse

See # 7 Page 11

Trade route toprofit Pak: PM

PM Gilani meets Kyrgyz President

Working on to get electricity from CAsian States: Hina

Shabbir Kazmi

KARACHI: The increase inFederal Excise Duty (FED) by1.5 per cent will result inupward revision of prices.

Indus Motors Corporation(IMC), was the first to increasethe prices becoming effectivefrom March 15, 2011.

A spokesman for IMC saidthat the recent increase in FED

will overburden the consumerwhile the industry is alreadyfacing serious threats due togovernment's decision ofrelaxation in age-limit of usedcars.

The revised rates of FEDwould bring Rs20,000 toRs25,000 increment in theprices of XLI, GLI and Altismodels of Toyota Corolla,

See # 8 Page 11

FED hike drivescar prices higher

Ahmed Siddique

KARACHI: State Bank ofPakistan (SBP) is scheduled toannounce its Monetary PolicyStatement (MPS) for April-May 2011 period on March 26,2011, chief spokesman for thecentral bank said.

TFD analyst foresees thatcentral bank may keep policyrate unchanged at 14 per centowing to decline in growth rateof inflation at 12.91 per cent inFebruary 2011, fiscal measure

taken to collect Rs45 billion inlast quarter, borrowing fromSBP reduced and decline incurrent account deficit.

As per the TFD analyst, gov-ernment has taken fiscal meas-ures by imposing 15 per centincome tax surcharge, enlarge-ment of federal excise dutyfrom one per cent to 2.5 percent and imposing GeneralSales Tax on fertiliser and trac-tors which would fetch aroundRs45 billion, this would

See # 9 Page 11

April-May keyrate seen frozen

New Monetary Policy on 26th

Special Correspondent

ISLAMABAD: Minister forFinance and Economic Affairs,Dr Abdul Hafeez Shaikh hereTuesday expressed the resolveof the government for takingstrict action against those whoare evading the taxes andbringing them in the tax netbesides controlling the govern-ment expenditures for stabili-sation of national economy andsecuring public finance in thecountry.

"Through series of economicstabilisation measures govern-ment wanted to enhance itsrevenue to enhance economicgrowth," he said while briefingthe newsmen about the eco-nomic stabilisation measures.

He was flanked by theMinister for Information andBroadcasting Dr Firdaus Ashiq

Awan and other senior govern-ment officials.

The minister said that thegovernment had inherited adifficult economic situation inthe backdrop of global oil andcommodity price shocks andsubsequent financial melt-down at an unprecedentedscale.

He assured that the incidenceof surcharge on income taxburden will be borne by thosewho have a taxable income andat the margin they will bear asmall extra liability, which willbe a one-off expense.

These measures, he said willenable government to containits fiscal deficit under 5.5 percent well below the level of 8per cent some observers hadspeculated.

Thus by containing thedeficit through these measures

government has laid a solidfoundation of arresting theinflation in the country, heremarked.

Earlier, EconomicCoordination Committee of theCabinet (ECC) hereWednesday decided to extendfinancial guarantees of theProvinces and PakistanAgriculture Storage andServices Corporation (PASS-CO) to maintain and stabilizereserve of wheat up to 6.5 mil-lion metric tonnes.

The ECC met here under thechairmanship of FederalMinister for Finance andEconomic Affairs, Dr AbdulHafeez Shaikh. TheCommittee was also apprisedof the sugar stock situation.The Committee was informedthat sugar stock is sufficient forthe coming October 2011.

Shaikh pledges tocast tax net on rich

Govt nods to keep wheat reserves at 6.6mn T

ISLAMABAD: Former reli-gious affairs minister HamidSaeed Kazmi has been handedover to the FederalInvestigation Agency (FIA) onfive-day physical remand.

According to the media, for-mer religious minister HamidKazmi was produced before

the court of Senior Civil JudgeMohammad Aslam.

The FIA requested for 14-day remand but the court grant-ed five-day remand.

It must be said that defenselawyer Malik Jawad Khalidwas not present thus Hamid

See # 10 Page 11

FIA gets Kazmi remand

Hakim Zardarihospitalisedafter brain

hemorrhageISLAMABAD: Hakim AliZardari, father of President AsifAli Zardari was shifted toPakistan Institute of MedicalSciences (PIMS) due to brainhemorrhage on Tuesday night.

As per media reports, doctor'steam said Hakim Ali Zardariwas shifted in the intensive-care-unit and his mental statehas been affected due to brainhemorrhage.

When Hakim Zardari wasbrought in PIMS at that timeboth CT scan machines andMRI present in hospital werenot working which cause thepanic among the managementof hospital. Eventually the CTscan and MRI of HakimZardari were performed atother hospitals. -Online

Peacecommittee

offices closedShiraz Ahmed

KARACHI: The Chairman ofLyari Amn Committee, OzairBaloch Wednesday announcedto close down all the offices ofthe Committee in Lyari Townand other parts of Karachi.

Addressing a press confer-ence along with another leaderHabib Jan, he said Committeewas being disbanded on thedirectives of the PPP leadershipunder the policy of reconcilia-tion of Shaheed MohtarmaBenazir Bhutto.

Special Correspondent/Agencies

LAHORE: A long-simmeringdiplomatic standoff betweenPakistan and the United Stateslooks to cool down asAmerican CIA contractor,Raymond Davis, who killedtwo Pakistanis, was releasedWednesday and he mysterious-ly flew for Afghanistan afterfamilies of the deceased weregiven blood-money underDiyat law.

US Ambassador to PakistanCameron Munter has thankedthe families for pardoningRaymond Davis.

As per media reports Daviswas released after Rs200 mil-lion were paid to legal heirs ofthe victims. David paid Rs 60million before the court.

Chaudhry Mushtaq, superin-tendent at Kot Lakhpat jail,said Davis left the jail with US

consulate officials after thehearing.

Legal heirs of Pakistanis onWednesday appeared beforethe court and signed the papersthat they pardon Raymond

Davis. Earlier on Wednesdaymorning, he was formallychargesheeted by the trial courton the charges of twin murderin Lahore.

Reports said Davis was air-lifted by an especial plane fromLahore airport's old terminaland flew for Afghanistan how-ever US officials have not con-firmed his departure.

Punjab Law Minister said theCIA contractor was released oncourt orders after paying'Diyat' to heirs of the deceased,as is permitted under Pakistanilaw.

Sanaullah said Davis wasformally indicted on murdercharges before members of thetwo slain men' families weretaken into the court, wherethey signed papers formallyforgiving him in exchange foran undisclosed sum of money.

Judges then acquitted him on See # 11 Page 11

Davis acquittedunder Diyat law

CIA contractor pays Rs200mn to victims heirs

l Flown to Kabul; US says will probe; Munter says thanksl JI, PTI announce countrywide protest against release

l Qureshi says his stance on Davis vindicated

PPP tostay positivein Punjab:President

QutubuddinKARACHI: President Asif AliZardari has said that the PPP inPunjab will play the role of aresponsible Opposition andwill not do anything that willdestabilise the provincial gov-ernment or weaken democracy.

Talking to Punjab PPP MPAswho had gathered at BilawalHouse Karachi, the Presidentalso advised the MPs to per-form their duties as responsibleand critical opposition but notallow themselves to be pro-voked into saying or doing any-thing that militated against thespirit of democracy.

The President said that theParty has a long history of fight-ing against dictatorship anddemocracy had been restored inthe country after huge sacrificesby the people of Pakistan.

The hard earned democracymust not be allowed to beweakened, the President said.

See # 6 Page 11

Karachi, Thursday, March 17, 2011, Rabi-us-Sani 11, Price Rs12 Pages 12

Hillarydenies payingcompensation CAIRO: The US governmentdid not pay any compensationto the families of twoPakistanis killed by RaymondDavis, US Secretary of StateHillary Clinton said onWednesday.

"The United States did notpay any compensation,"Clinton told reporters in Cairo.Asked who paid the families,she replied: "You will have toask the families." -Reuters

Economic-hitfrom Japanquake seenat $200bn

TOKYO: Japan's devastatingearthquake and deepeningnuclear crisis could result inlosses of up to $200 billion forthe world's third largest econo-my but the global impactremains hard to gauge fivedays after a massive tsunamibattered the northeast coast.

As Japanese officials scram-bled to avert a catastrophicmeltdown at a nuclear plant240 km north of the capitalTokyo, economists took stockof the damage to buildings,production and consumer activ-ity. The disaster is expected tohit Japanese output sharplyover the coming months, buteconomists warned it couldresult in a deeper slowdown ifpower shortages prove signifi-cant and prolonged, delaying oreven scotching the "v-shaped"recovery that followed the 1995Kobe earthquake. -Reuters

2 Thursday, March 17, 2011

ISLAMABAD: SaudiAmbassador to PakistanAbd-ul-Aziz Bin IbrahimAl-Ghadeer has said thatrelations between SaudiArabia and Pakistan are agreat precedent to thewhole world.

These relations are abovegeographical boundariesand divides. He expressedthese views while address-ing a seminar on "Depth ofPak-Saudi Friendship" atthe Faculty of Shariah andlaw of the InternationalIslamic University,Islamabad (IIUI) onWednesday.

The seminar was largelyattended by faculty mem-bers, staff and students ofthe university.

Saudi envoy gave a his-torical account of Saudi-Pak relations and saidthat it has roots in the his-tory. Soon after the estab-lishment of Pakistan deepbi-lateral relations cameinto being which weremore and more strength-ened by the Saudi-Pakpeople and rulers overdecades.

He mentioned the visitsof late kings of SaudiArabia to Pakistan and toldthe audience that they

strengthened those rela-tions to overcome anychallenge.

Saudi envoy added thatSaudi people and govern-ment were always withtheir brethren in Pakistanespecially in the hours ofmiseries and disasters.

He mentioned Saudiassistance to Pakistan inaftermath of 2005 earth-quake and 2010 floods. Hesaid that Saudi Arabia pro-vided assistance of billionsof dollars to Pakistan onboth the occasions. It wasto fulfill religious duty tohelp human beings in theirtroubles.

The Saudi ambassadorsaid that in 2005 earth-quake and 2010 floods itwere Saudis who under theleadership of their Kingand the Custodian of twoHarams Abdullah Ibn-e-Abdul Aziz dispatchedhundreds of cargo planesto Pakistan with humani-tarian assistance.

Speaking on the occasionDr. Muhammad Zia-ul-Haq, Dean Faculty ofShariah and Law and Dr.Muhammad Riaz, DeanFaculty Basic and AppliedSciences of the universitythanked Saudi Arabian

ruler and the custodian oftwo Harams KingAbdullah and the peoplefor their continued supportto Pakistan.

The Saudi Ambassadoralso called on Rector of theuniversity Prof. FatehMuhammad Malik andexchanged his views withhim. Prof. Malik apprisedthe Saudi envoy about theuniversity and its activitiesover last 25 years of itsexistence. Prof. Malik saidthat Saudi Arabia wasalways helpful to the uni-versity and played a veryvital role in its develop-ment.

The Saudi Ambassadoron this occasion promisedto provide assistance tothe university for hiringfaculty members andarranging conferences andseminars. He also prom-ised to help the universityin constructing a grandmosque at its new cam-pus. IIUI souvenirs andshields were presented tothe Saudi dignitary whilesets of Saudi publicationson assistance to Pakistanwere presented to theRector of the universityby the visiting Saudienvoy.-Online

‘Pak-Saudi relationsbeyond boundaries’

Saudia to build grand mosque at IIUI

Staff Reporter

KARACHI: The SindhAssembly Wednesdaypassed a unanimous resolu-tion praising the efforts ofPresident Asif Ali Zardariand MQM Chief AltafHussain to unite the peopleof Sindh for peace anddevelopment.

According to the resolu-tion moved by MPA PirSyed Muhammad BachalShah, the measures takenby the PPP and MQM lead-ership, will open a newchapter in the history of theprovince by maintainingunity and harmonyamongst all segments ofsociety.

"Our leadership and thatof MQM foiled a conspira-cy hatched against theinterests of the province,"said PPP MPA BachalShah.

Participating in the dis-cussion, MQM MPA MsHeer Ismail Soho said thatMQM believes in inter-faith harmony and alwayswanted to serve the masseswithout any ethnic discrim-ination.

She said that her partywas fully determined towork with the PPP forpeace and developmentand resolve the problemsof the masses in theprovince.

The session presided by

Speaker, Nisar Khuhro,was later adjourned forThursday morning.

Special Economic Zonefor foreign investors isbeing established inShahdadpur with a cost ofRs548.347 million, theSindh Assembly wasinformed during the ques-tion and answer session.

The session presided bySpeaker of SindhAssembly, Nisar AhmedKhuhro, was told on behalfof Sindh Chief MinisterSyed Qaim Ali Shah byFinance Minister MuradAli Shah that the zone hasbeen named as"Establishment of ChinaZone in Shahdadpur" in

Sanghar district.The scheme was pre-

pared by Industries andCommerce Departmentwhich was cleared byPublic DevelopmentWorking Party (PDWP) onSept 2009 and was for-warded for approval andfunding under Presidentialdirective in Dec, 2009.

In addition, theInvestment Departmentrecently established by theGovernment of Sindh hasalso been entrusted withthe function to establishspecial economic zones inthe province, the Housewas informed.

Another scheme, pro-posed by Investment

Department based on thedirectives of the SindhChief Minister, has beenincluding in AnnualDevelopment Programme(ADP) for 2010-11 underwhich 'Japan SpecialEconomic Zone' will beestablished in the provinceat a cost of Rs754.40 mil-lion.

The House was furtherinformed that another pro-gramme has been initiatedwith a cost of 7.6 milliondollar funded by AsianDevelopment Programme(ADP) for Sindh CitiesImprovement Programmein district Khairpur,Shikarpur and Larkana onpriority.

Special economic zonesfor foreign investors

planned in Sindh: SA told

SA praises Zardari, Altaf

ISLAMABAD: DirectorGeneral NAB (KPK) Brig(R) Muhammad MusaddiqAbbasi has said that corrup-tion is the biggest securityrisk as Pakistan is 34th mostcorrupt country as per thecorruption Perception Indexadding that Iranian govern-ment rightly defined corrup-tion as "Fasad Fil Arz".

This, he said, whileaddressing at a seminar cumwalk at the University ofEngineering andTechnology Peshawar. The

function was organized byCharacter Building Societyof UET, Peshawar in collab-oration with NAB (KPK).Vice Chancellor of theUniversity, Syed ImtiazHussain Gillani was thechief guest, Prof Dr. QiblaAyaz, Director Islamic andArabic Research, SheikhZaid Islamic CenterPeshawar, Director Club,UET, Misbahullah and a stu-dent of Civil Engineering,Bilal Ahmad also spoke onthe occasion.-Online

‘Corruption biggestsecurity risk’

Pak ranks 34th in list

LARKANA: ChiefMinister Sindh SayedQaim Ali Shah onWednesday said that thereservations of MQM onlaw and order situation inKarachi will be addressedand in this connection ajoint committee has beenconstituted to tackle the sit-uation.

He expressed thesenotions while talking themedia after inauguration ofMega Festival "Asan JoLarkana, Shahr-e-Benazir"here in Larkana. The ChiefMinister said that the PPPwill complete its five yearterm, while those who arewaiting for mid term elec-tion should wait for theperiod.

He said the PPP did notcome from back doors butthe PPP had public man-date and the masses willelect PPP in next processalso, he said.

He said certain politi-

cians were spending muchamount on their outfit andwasting the time of nationby criticizing on PPP gov-ernment, he said the previ-ous government hadignored Sindh, speciallyLarkana in different sec-tors of health and educa-tion, with the result Sindhfaced economic crises, hesaid.

The Chief Minster Sindhaccompanied by ProvincialMinister LocalGovernment Agha SirajDurani, Law MinisterMohammed Ayaz Soomro,Revenue Minister JaamMehtab Dahar and localPPP leaders inauguratedfour days Mega Festival atSambara Inn Larkana.

On the occasion, SayedQaim Ali Shah visited sev-eral cultural, educational,Agricultural, Handicraftand other Arts andExhibition stalls set up bythe different departments.

Chief Minister address-ing at Arts CouncilLarkana said that it is themuch participation ofwomenfolk and it is thegood sign and developmentof education that it was thedream of Shaheed BenazirBhutto to empower thewomen in different fields.

He said present govern-ment is spending muchamount on the Education,Health and other sectors,which were ignored in pre-vious government, whilepresent government objec-tives to develop the keyareas of health and educa-tion.

He said the festival isalso key of success in thesocial activities and cultur-al development process.He also announced Rs0.1million on the best per-formance of children pre-senting tableaus and otheractivities by school chil-dren.-Online

MQM grievances tobe addressed: Qaim

KARACHI: A leadingexporter has been arrestedby National accountabilityBureau (Sindh) allegedlyfor wilful bank defaultamounting Rs 311 million.According to an announce-ment of NAB (Sindh) hereon Wednesday, AbdulQadir Jangda, proprietor ofM/s Bukhari CommercialExporters was arrestedfrom Lahore for default ofKASB Bank Ltd and NBPLtd and submission on fakeproperty documents.

A complaint throughGovernor SBP againstAbdul Qadir Jangda andMuhammed Hanif Memon,the mortgager was filed forsubmission of fake docu-ments under section (5) of

National AccountabilityOrdinance to the tune ofRs97 million in June 2007.

A similar case against theaccused was registered forloan default of NBPmounting Rs 261.598 mil-lion.

The accused in Nov 2008had applied for out of courtsettlement with NAB forboth cases. The liabilitieswere jointly calculated tothe tune of Rs 359.067 mil-lion and the NAB HQapproved Rs261 million asfull and final payment ofboth the cases.

However, the accusedpaid only Rs10 million as atoken towards settlement tofulfill the obligations undersettlement. -APP

Exporter heldfor bank default

ISLAMABAD: TheAirport Security Force(ASF) in a bid to tightensecurity and unauthorizedentry into the airportsdecided to ensure that allpassengers hold hardcopies of their valid airtickets at the gate.

Talking to APP, an offi-cial of the ministry of theDefence said the securitymeasures at the airports hasbeen beefed up for whichthe entry of passengers,staff and the vehicles arebeing properly scrutinizedto pre-empt any possibleact of terrorism.

He said due to prevailingthreats to aviation industry,the selective search of carsand surveillance of carparks has been initiated.

Besides the valid tickets,the passengers are alsorequired to produce photoidentity while the func-tionaries are permitted onvalid Airport entry passesonly, he informed.

He said the ASF staff hasalso been deployed on theaircraft to ensure that onlybonafide passengers andstaff of the concerned air-line could enter into the air-craft.-APP

Security at airportsfurther tightened

LCCI rejectssurcharge onincome tax

LAHORE: The LahoreChamber of Commerce andIndustry (LCCI)Wednesday opposed impo-sition of one-time 15 percent surcharge on incometax payable during thefinancial year 2010-11.

They also opposedincrease in Excise Duty andSales Tax on all inputsincluding imports and with-drawal of 17 per cent GSTexemption on fertiliser, pesti-cides, tractors, leather, sportsand surgical instruments.

In a joint statementissued here, LCCIPresident Shahzad AliMalik claimed was a 'Minibudget'.-APP

Jazz huntfor talent

TFD Report KARACHI: Paying hom-age to the youth who consti-tute more than 60% ofPakistan's population,Mobilink's youth platformJazz Jazba has launched atalent program to showcaseand harness potential talentin a variety of categories.

Mobilink, Pakistan's marketleader in cellular services and apart of Orascom TelecomHolding has launched the"Such Talent - What's YourJazba" activation in 100 col-leges and universities acrossKarachi, Lahore andIslamabad. The program notonly presents a platform foryouth to showcase talent and berecognized by their peers but isalso a recruitment drive to cre-ate a panel of Ambassadorswho will be trained andgroomed by the Jazba team fora period of 6 months.

NBP staffseeks

redressalof demandsKARACHI: TheNational Bank of PakistanOfficers and staffWednesday took outprotest rallies in Karachi,Islamabad, Peshawar,Muzaffarabad andHyderabad to press foracceptance of theirdemands under the aus-pices of National BankOfficers Federation. Theyurged the bank adminis-tration to look into theproblems of the employ-ees and not to force themto resort to strike.

In a press release thefederation has pointedout that a group in theadministration was harm-ing the interest of thebank and creating prob-lems for the staff andofficers. The federationurged that the pendingdemands of the staffshould be met otherwisethey would announcetheir future line of actionthrough press.-PR

KARACHI: Sindh Minister for Education Pir Mazhar-ul-Haq addressing the Sindh

Assembly session on Wednesday.-Online

KARACHI: Students at FAST University Karachi queue up to participate in the "Such

Talent - What's your Jazba" campaign launched by Mobilink's youth package Jazz Jazba,

while actor Mani moderates the performance in front of a live student audience. The acti-

vation will be taken to 100 colleges and universities across Karachi, Lahore and

Islamabad.-Staff Photo

TV PROGRAMMES

THURSDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:00 News

11:30 Aap Ki Baat (Rpt)

12:00 News

13:05 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

Condolenceon lossesin Japan

KARACHI: Ateeq-ur-Rehman, chairman of a sub-committee of KCCI, in a con-dolence message expressedhis sympathies on huge mate-rial and life losses in Japanfollowing a devastatingearthquake and tsunami.

In a message to MasaharuSato,Consul- General ofJapan, he said that "we feelextremely distressed onloss of thousands of lives,injuries and colossal dam-age that smack your greatcountry." We are ready toprovide every possibleassistance and cooperationto Japan to mitigate suffer-ings of Japanese people, headded.-PR

SBP chief praises foreigninvestors role in economy

Staff ReporterKARACHI: Governor, State Bank of Pakistan Shahid H.Kardar visited the Overseas Investors Chamber of Commerceand Industry recently to discuss the fiscal deficit of the coun-try and its impact on foreign investments in Pakistan. TheGovernor appreciated the role of the private sector in thegrowth of the country's economy and recognized the key roleof foreign investors in the promotion of Pakistan as a desti-nation for investment to prospective foreign investors.

EPZA registers 69pcgrowth in exports

TFD ReportKARACHI: The exports from Export Processing Zonesshowed a record grown of 69% during the current periodJuly 2010-February 2011 as compared to the period July2008 -February 09. The exports were 41% higher whencompared with the corresponding period of 2009-10.This progress reflects a confidence of the investors inEPZA and its policies.

The Export Processing Zones Authority pointed out thatdespite economic challenges prevailing in the country, theZone has shown resilience. Resultantly, exports have reg-istered a phenomenal growth. It has also contributed increating employment opportunities, generation of rev-enues for the Government, increased investment by theinvestors in the zone. The enhancement in exports isattributed to good performance in several sectors such asgarments, garment accessories, P.P/PVC plastic products,Paper/Printing and Packaging, Chemical and Allied prod-ucts and worn clothing, says a press release.

MUMBAI: The Indian rupeeended higher drawing comfortfrom strong gains in domesticequities, but demand fromimporters contained the unit'srise.

The partially convertiblerupee ended at 45.1100/1200per dollar, 0.3 per cent higheragainst Tuesday's close of45.2400/2500.

Intraday the rupee moved ina 45.1000-45.2425 range.

"Custodian flows were prettystrong given the rise in theequities," said Rohan Naik,head of foreign exchange trad-ing at Standard CharteredBank.

Indian shares firmed 1.1 percent on Wednesday, helped bygains in world equities and asvalue buying emerged onviews that most negatives werealready priced in.

"A bit of dollar selling fromexporters was also seen but,there was consistent demandfrom oil firms at lower levels,"Naik added.

Earlier in the day, the rupeecame under pressure due todollar demand from goldimporters, but found supportfrom strong Asian currencies.

The one-month onshore for-

ward premium was at 32.50, upfrom 30.50 points on Tuesday,the three-month premiumgained sharply to 88.00 pointsfrom 81.75 and the one-yearpremium climbed to 288.00from 281.00 points.

The rise in the premium wasbased on the view that India'scentral bank would raise keypolicy rates on Thursday,traders said.

The one-month offshore non-deliverable forward contractswere quoted at 45.47, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, MCX-SX, and theUnited Stock Exchange wereall at 45.2600, with the totaltraded volume at about $7.57billion. -Reuters

Indian rupee gainson local shares mkt

3Thursday, March 17, 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 16/03/2011

A USD GBP CAD EUR JPY

O/N 0.21150 0.55688 0.96417 0.65625 SN 0.18125

1WK 0.24195 0.57750 1.00000 0.74250 0.18250

2WK 0.24595 0.58375 1.03617 0.78813 0.18125

1MO 0.25350 0.61313 1.08167 0.84625 0.16000

2MO 0.28350 0.68375 1.13750 0.97813 0.16875

3MO 0.30900 0.80563 1.20333 1.12000 0.20000

4MO 0.35050 0.88813 1.27333 1.21313 0.24563

5MO 0.40780 0.99313 1.33500 1.31375 0.30125

6MO 0.46000 1.10750 1.39417 1.43500 0.34750

7MO 0.51200 1.19125 1.47750 1.50813 0.39625

8MO 0.56125 1.27750 1.56667 1.58250 0.44438

9MO 0.61025 1.35875 1.64083 1.65688 0.49000

10MO 0.66000 1.44063 1.72500 1.72875 0.51688

11MO 0.71400 1.50938 1.80667 1.79938 0.54375

12MO 0.77150 1.58063 1.88833 1.87125 0.57125

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

U.S.A. 85.40 85.20 84.95U.K. 137.14 136.82 136.39EURO 119.29 119.01 118.63CANADA 86.58 86.38 86.15SWITZERLAND 93.07 92.85 92.61AUSTRALIA 84.61 84.42 84.19SWEDEN 13.32 13.29 13.25JAPAN 1.06 1.05 1.05NORWAY 15.06 15.03 14.99SINGAPORE 66.79 66.63 66.46DENMARK 15.99 15.95 15.91SAUDI ARABIA 22.77 22.72 22.66HONG KONG 10.95 10.93 10.90CHINA 12.99 12.96 12.93KUWAIT 307.06 306.34 305.54MALAYSIA 27.92 27.86 27.78NEW ZEALAND 62.55 62.40 62.24QATAR 23.45 23.40 23.34U.A.E. 23.25 23.20 23.14KR WON 0.08 0.08 0.07THAILAND 2.80 2.80 2.79

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3916 1.3919 1.4002 1.3904

USD-CHF 0.9149 0.9153 0.9196 0.9133

GBP-USD 1.6039 1.6042 1.6131 1.6024

USD-CAD 0.9873 0.9876 0.9888 0.9809

AUD-USD 0.9870 0.9874 0.9962 0.9854

EUR-JPY 112.0200 112.0700 113.4800 111.8200

EUR-GBP 0.8676 0.8680 0.8708 0.8665

EUR-CHF 1.2740 1.2743 1.2852 1.2716

GBP-JPY 129.0300 129.1000 130.5200 128.8000

CHF-JPY 87.8800 87.9300 88.3100 87.8700

Gold 1399.7000 1400.4500 1406.3000 1393.6000

As per 22.00 PST

Time Source Events Forecast Previous

13:30 CHF Libor Rate 0.25% 0.25%

14:30 GBP Consumer Inflation Expectations 3.9%

17:30 CAD Wholesale Sales m/m 0.9% 0.8%

17:30 USD Core CPI m/m 0.1% 0.2%

17:30 USD Unemployment Claims 388K 397K

17:30 USD CPI m/m 0.5% 0.4%

18:15 USD Capacity Utilization Rate 76.6% 76.1%

18:15 USD Industrial Production m/m 0.7% -0.1%

19:00 USD Philly Fed Manufacturing Index 29.9 35.9

19:00 USD CB Leading Index m/m 0.9% 0.1%

Source Events Actual Forecast Previous

GBP Claimant Count Change -10.2K 1.2K 1.5K

GBP Average Earnings Index 3m/y 2.3% 2.2% 1.8%

EUR CPI y/y 2.4% 2.4% 2.4%

EUR Core CPI y/y 1.0% 1.1% 1.1%

USD Building Permits 0.52M 0.58M 0.56M

USD PPI m/m 1.6% 0.7% 0.8%

USD Core PPI m/m 0.2% 0.2% 0.5%

USD Current Account -113B -111B -126B

USD Housing Starts 0.48M 0.58M 0.62M

USD Crude Oil Inventories 1.7M 1.8M 2.5M

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

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

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

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

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

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

Federal Reserve January 1, 2001 December 16, 2008 0.25%

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

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, March 16,2011 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

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

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

JSBL 13.00 13.50 13.00 13.50 12.95 13.45 13.30 13.55 13.60 13.85 13.70 14.20 13.80 14.30 13.90 14.40

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

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

DBPK 12.80 13.30 12.70 13.20 12.75 13.25 13.25 13.50 13.35 13.60 13.40 13.90 13.55 14.05 13.65 14.15

FBPK 12.95 13.45 12.90 13.40 12.90 13.40 13.25 13.50 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.95 13.45 12.90 13.40 12.85 13.35 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 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

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

NIPK 12.90 13.45 13.05 13.55 13.15 13.65 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.70 14.20

HMBP 12.90 13.40 12.95 13.45 12.95 13.45 13.30 13.55 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

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

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

NBPK 13.00 13.50 13.00 13.50 13.00 13.50 13.30 13.55 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

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

UBPL 12.90 13.40 12.90 13.40 12.90 13.40 13.30 13.55 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.89 13.39 12.89 13.39 12.88 13.38 13.28 13.53 13.49 13.74 13.62 14.12 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)16/03/2011

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

1 week 0.06 0.77 -0.53 0.93 0.38 -0.23 -0.80 0.411 month 0.53 -0.35 -0.03 0.43 0.44 -0.15 -0.27 -0.483 months 0.38 0.77 0.12 0.88 0.89 -0.06 -0.79 -0.486 months 0.43 0.33 0.16 0.71 0.75 0.30 -0.52 -0.401 year 0.85 -0.57 0.05 -0.13 0.81 0.84 -0.66 -0.902 years 0.33 0.18 0.02 0.38 0.79 0.37 -0.23 -0.55

Currencies CorrelationGBP/USD

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 13.15 13.10 13.08 13.00 13.00 13.05 13.06

8-15dys 13.10 13.05 13.04 12.95 13.00 13.00 13.02

16-30dys 13.15 13.08 13.02 13.00 13.00 13.05 13.05

31-60dys 13.22 13.14 13.15 13.10 13.18 13.12 13.15

61-90dys 13.30 13.23 13.22 13.20 13.25 13.23 13.24

91-120dys 13.45 13.35 13.40 13.30 13.40 13.45 13.39

121-180dys 13.53 13.53 13.52 13.50 13.55 13.52 13.53

181-270dys 13.70 13.64 13.65 13.65 13.68 13.65 13.66

271-365dys 13.75 13.75 13.76 13.75 13.78 13.75 13.76

2-- years 14.00 14.00 13.98 13.90 13.95 13.95 13.96

3-- years 14.04 14.05 14.03 14.08 14.05 14.03 14.05

4-- years 14.10 14.10 14.05 14.09 14.18 14.10 14.10

5-- years 14.10 14.11 14.06 14.09 14.12 14.10 14.10

6-- years 14.14 14.16 14.16 14.12 14.20 14.17 14.16

7-- years 14.15 14.16 14.18 14.15 14.11 14.12 14.15

8-- years 14.13 14.05 14.12 14.12 14.20 14.08 14.12

9-- years 14.10 14.05 14.07 14.10 14.00 14.07 14.07

10--years 14.10 14.10 14.07 14.09 14.10 14.10 14.09

15--years 14.50 14.50 14.60 14.50 14.50 14.40 14.50

20--years 14.75 14.75 14.75 14.80 14.75 14.70 14.75

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for March 16, 2011

NEW YORK: The yen neared a recordpeak against the dollar on Wednesday, butanalysts say expectations Japan will inter-vene to weaken the currency if it getsmuch stronger may provide a good oppor-tunity to buy the greenback.

The dollar hit a four-month low of80.33 yen after a European official saidJapanese efforts to contain radiation lev-els from a damaged nuclear power plantwere "effectively out of control."

That added to the steady yen buyingseen since last week's earthquake, whichhas traders bracing for investors to selloverseas assets to pay for repairs at home.

BNP Paribas technical strategistAndrew Chaveriat said a break of theNovember low around 80.25 yen fol-lowed by 80 may put a 79.75 record lowin reach, followed by a move to 77.05.

"The daily momentum is a bit oversoldbut not as much as in October," he said."And the weekly momentum is morepowerful thanduring theOctober declineand a lot lessoversold."

The euro fell0.5 per cent to$1.3925 and theSwiss franc, atraditional safe haven, hit a record highagainst the dollar for fear Japan's woeswill hurt global growth.

Market participants, however, expectJapan to try to lean against any furtherappreciation by selling yen in the marketand driving the dollar higher.

"If you get short yen around here before

it hits 80 per dollar, that's a really goodtrade," said Greg Salvaggio, vice presi-dent of trading at Tempus Consulting in

Washington.He said Japanese authorities are likely

to intervene if the currency falls below 80and will probably have the blessing ofother central banks, given the circum-stances.

"Excellent levels to buy the dollaragainst the yen are imminent," said Ken

Dickson, investment director of curren-cies at Standard Life Investments, with156.9 billion pounds ($252.5 billion) inassets. "These levels are attractive as weare not convinced repatriation willstrengthen the yen further."

Also, expectations that the FederalReserve will start to signal a move towardtighter monetary policy later this year willshift make dollar assets more attractive.

On Tuesday, the Fed said higher com-modity prices were putting upward buttemporary pressure on inflation. TheEuropean Central Bank is expected to liftrates as soon as next month to counterprice pressures, though governing councilmember Christian Noyer cast some doubton that Wednesday when he said the bankwould weigh the impact of Japan's crisison policy decisions. -Reuters

Yen rises in flighty market;intervention risks loom large

SHANGHAI: The yuan endedup slightly against the dollarafter trading narrowly onWednesday, with the marketwaiting to see when the centralbank might let the Chinese cur-rency renew its cycle of appre-ciation.

Spot yuan closed slightlyfirmer at 6.5713 versus the dol-lar against its previous close of6.5727. The currency has risen3.9 per cent since it wasdepegged in June 2010.

Before trading began, thePBOC set the yuan's mid-pointat 6.5718 versus the dollar,weaker than Tuesday's 6.5679.

"There are many uncertain-ties, such as Japan, inflation, sowe can only wait for the centralbank's next step," said a dealerat a Chinese commercial bankin Shanghai. "For now, themid-point still shows it is mov-ing in a stable manner."

Traders expect the daily fix-ing to hit a new peak soon asBeijing appears to be using theyuan to help fight importedinflation propelled by high

global commodity prices.Late on Tuesday, the Bank

for International Settlementshowed that the yuan's nominaleffective exchange rate(NEER), or its value against atrade-weighted basket, edgeddown 0.3 per cent in Februaryto 113.22, up from last month's113.6.

Traders said the fall in theyuan's NEER in February wasmainly driven by a weak dollarindex in global markets, whenit declined 1.1 per cent.

NEER is a currency's nomi-nal exchange rate against abasket of trade-weight curren-cies. In the Chinese case, thedollar dominates in the basketby a weight of about 70 percent.

Benchmark one-yeardollar/yuan non-deliverableforwards (NDF) were bid at6.4560, edging up from 6.4490at Tuesday's close. Theirimplied yuan appreciation in ayear's time fell to 1.8 per cent,from Tuesday's 1.9 per cent. -Reuters

Yuan ends up; mktawaits cbank move

LONDON: Sterling fellagainst the dollar onWednesday, dented by con-cerns about a fragile UK econ-omy while rising risk aversiondue to worries about Japan'snuclear crisis helped the dollar.

The pound held above the$1.60 level, but analysts saw arisk of further downside, par-ticularly if risks to the econom-ic outlook prompt investors tofurther scale back expectations

for interest rates to rise in thecoming months.

Short sterling futures ralliedas investors pushed backexpectations of monetary tight-ening from the Bank ofEngland following mixed eco-nomic data and uncertaintyabout the global outlook in thewake of the Japan earthquake.

Data on Wednesday showedthat the number of Britonsclaiming unemployment bene-fit unexpectedly fell inFebruary. However, that wasoffset by the broader ILOunemployment measure risingto a 10-month high of 8.0 per

cent.Highlighting concerns about

the UK, the OECD onWednesday cut its 2011 growthforecast for the country, sayingthe economy faced significantrisks from falling house prices,weak domestic consumptionand uncertain global demand.

Analysts at Citi said the priceaction in sterling/dollar wassimilar to that seen at the endof 2010 and suggested a "leg

lower is on the cards". They areadopting a tactical short posi-tion with a target of sub-$1.56.

Sterling was down 0.35 percent against the dollar at$1.6015, though it held above alow of $1.5978 hit on Tuesday,however.

The pound gained against aweaker euro, which was down0.1 per cent at 86.98 penceafter European Central Bankpolicymaker Christian Noyercast doubt on whether euro-zone rates would rise nextmonth, saying the bank wouldassess the impact of events inJapan.-Reuters

Sterling dips; seenvulnerable to more falls

SINGAPORE: The Singaporedollar and the Malaysia ringgitled gains in Asian currencieson Wednesday as short-terminvestors cut dollar holdingswith regional stocks rebound-ing, but doubts remained overthe sustainability of thosegains as Japan's nuclear crisisappeared to worsen.

Workers were ordered to with-draw temporarily from a strickenJapanese nuclear power plantafter radiation levels surged,Kyodo news reported. Investorscleared some dollar-long posi-tions as regional stocks, espe-cially Japanese equities,rebounded on Wednesday and onexpectations that repatriation byJapanese life insurers will havelimited impact.

The Singapore dollar

rebounded as speculative inter-bank bought it on Japanesestocks' gains.

On Wednesday, it lost 1.2 percent against the US dollar, thebiggest daily percentage fallsince Nov. 23 last year.

The ringgit gained as short-term investors reduced dollar-long positions on exporters'demand for settlements. LaterEuropean players bought theMalaysian currency.

The won rose as exporters'demand for settlements andlocal investors cleared dollar-long positions.

Earlier, the South Korean cur-rency turned lower on height-ened worries about Japan'snuclear crisis, but reboundedagain with caution over possi-ble dollar-selling intervention

by the foreign exchange author-ities to check inflation. OnTuesday, the authorities wassuspected selling the greenbackas the won hit a fresh 2-1/2-month low, dealers said.

Still, market players remaineddoubtful if the won could risemore. The Philippines pesofailed to maintain initial gains onworries about Japan and hover-ing near a three-week lowagainst the dollar.

The peso weakened to as softas 43.94 per dollar, just off asupport line at 43.97, the 50-per cent Fibonacci retracementof its January-March gain.

If the local currency clearlybreaks through the level, it hasroom to slide more, probablyto 44.16, the 61.8 pct retrace-ment. -Reuters

Asian currencies

Stocks rally lifts S’poredollar; outlook uncertain

SYDNEY/WELLINGTON: The Australianand New Zealand dollars recouped a little of theweek's hefty losses on Wednesday as Japaneseshares bounced, though uncertainty over thenuclear crisis in Japan could see another wave ofrisk aversion.

The Australian dollar edged up to $0.9930,after plunging to a two-month trough of $0.9815on Tuesday, but remained 2.1 per cent down sofar this week. Support was seen around $0.9803,with resistance at $0.9966 and $0.9991.

The kiwi consolidated around $0.7320/25 dur-ing a session dominated by risk, after it had beendumped to a near six-month low of $0.7267overnight. Support is seen at $0.7270, the 50 percent retracement level of last year's May/Julyrally, while resistance is at $0.7340 and then$0.7365, Monday's daily high.

The Antipodean currencies received a lift froma moderate rally in Japan's battered stock mar-

ket, which rose 5 per cent. However, the Aussieand kiwi remain vulnerable as conditions at astricken nuclear power plant in Japan remainhighly uncertain.

For now, markets seemed calm despite newsthat staff at a quake-damaged Fukushimanuclear site has been evacuated following anincrease in radiation The Aussie perked up to80.13 yen, after tumbling to a near five-monthlow of 79.23 yen overnight, with dealers wary incase Japan intervenes to curb the yen.

It also pared some of its losses on the Swissfranc at 0.9093 francs, having fallen 2.7 per centovernight to as deep as 0.9020 francs.

The euro hit an early 18-week peak atA$1.4151, before edging back a touch toA$1.4070. The kiwi was anchored around 59.20yen, after touching a near seven-month low of58.64 as Japanese investors were seen liquidat-ing carry trades. -Reuters

Aussie & NZ dollars findfooting after slide, still frail

Swiss francdips on

profit takingZURICH: The Swiss francpulled off the previous day'srecord high against the dollaron Wednesday, as investorstook profits following a flightto safety due to the Japanesenuclear crisis.

The franc has been benefit-ting from safe-haven buyingfollowing political unrest in theMiddle East and North Africaand the earthquake in Japan,where developments at a strick-en nuclear power plant suggest-ed the crisis was spiralling outof control.

The franc had risen as high as0.9137 on Tuesday, its strongestever against the greenback. It hadweakened 0.3 per cent to 0.9186at 0802 GMT compared with theNew York close, but was seenreversing course. "There aremore stops on downside so Ibelieve we still see a strongerfranc over time," a trader inZurich said.

Against the euro the francwas little changed at 1.2826.

The market is eagerly await-ing the Swiss National Bank'smonetary policy review onThursday. Although the SNB ishighly likely to keep its interestrate target ultra low it may raiseits growth outlook for the yearafter the Alpine economy pow-ered ahead in the final quarterof last year. -Reuters

Short-term players cut dollar long positions

Analysts say dollar nearing attractive buy levels vs yen

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

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

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

ent in securities trading. The facts, information, data, indicators and charts

presented have been obtained from sources believed to be reliable, but their

accuracy and completeness cannot be guaranteed. The Financial Daily

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

use of these reports and recommendations.

Where isfriendly

Opp now?To the utter disappointment of general public the

elected government has chosen to impose new

taxes through issue of presidential order. This indi-

cates 1) the rulers have no faith in parliament and

2) they can do any thing to prolong their rule. Now

masses wait to see the response of other coalition

partners and opposition political parties. To be hon-

est the overwhelming perception is that coalition

partners' opposition will not beyond politically

loaded statements with emphasis on we do not

accept these taxes. Masses often ask is issuing such

statements of any consequence? Prices of every

items is skyrocketing and imposition of new

taxes/increasing the percentage would further

erode the purchasing power of masses.

Masses are pinning their hopes on if some one

files a case against these ordinances the court may

grant a stay. However, they are also a little skepti-

cal because the present rulers have failed repeated-

ly in executing the court orders. In fact it becomes

a mockery when the court decisions are not imple-

mented. The irony is that a lot of the time of apex

courts is wasted in hearing the cases and a sense of

frustration also develops when orders are not exe-

cuted.

The biggest frustration for the masses is that nei-

ther the treasury nor the opposition is bothered

about their woes. It is true that rulers are ready to

do any thing to complete their term but the worst

has been the response of opposition. Leaders of the

opposition is now demanding mid-term elections

but his party PML-N is busy in buying the loyalty

of PML-Q members in the provincial assembly to

prolong its rule in Punjab.

It seems that PML-N once again wants to start

'musical chair' game. Apparently, its members are

losing patience and just can't wait for another two

years for the general election. Masses fail to under-

stand the logic of PML-N for not holding local bod-

ies election but insisting on holding mid term elec-

tions. If the conditions are not conducive for hold-

ing local bodies election, on what grounds holding

of general elections will be possible?

Whatever may be the stance of rulers and the

opposition the growing concern is masses may lose

their patience. One could laugh on the statement of

as DCO 'people should not use milk'. The officer

has accepted his failure in containing price of milk

and now seeks the help of masses. To some extent

he his right because around the globe consumers

show their dismay by not buying the product at

inflated prices. However, containing prices has

always remained a bid issue because no one is will-

ing to contain consumption despite hike in prices.

4Thursday, March 17, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat SabirHead office

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

URL: www.thefinancialdaily.comEmail Address: editor@thefinancialdaily.com

Lahore office

24- Peshawar Block, Fortress Stadium, Lahore

Telephone: 92-42-6675595 Fax: 92-42-6664349

Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 130

Adnan Farooq

The history of Pakistan's journal-ism is witness to the harsh realitythat the concept of 'Lifafa' journal-ism was introduced by the head ofone of the leading political partiesof Pakistan, who is teaching moral-ity and high values to his peers forthe last two decades* A big chunkof the Pakistani journalists are onthe payroll of different agencies orpolitical parties, toeing their linesin their writings and television dis-cussion programmes in order to pro-tect the interests of their 'pay mas-ters', well-placed sources haverevealed.

These so-called towering person-alities of Pakistani journalism regu-larly receive 'remuneration in cashor kind for their invaluable servic-es,' either in person or it is handedover to them by agencies staffers orpolitical workers at their homes ordesired places in the garb of reportsor documents.

Some of these journalists on thepayroll of agencies and politicalparties, sources say, belonged tovery poor families but now theyhave assets worth over millions ofrupees, own business concerns andare living a very luxurious life inposh localities of Pakistan's metro-politan cities like Islamabad,Karachi, Lahore and Rawalpindi.

Divulging about the monetary andother benefits dished out by variousagencies and political parties tomedia persons, sources say thatagencies usually have secret fundsworth millions of rupees and sameis the case with political parties,which is dished out to the journal-ists.

"It is an open secret that the agen-cies and political parties use thesejournalists as pawns in their murkygames and they (journalists)become their stooges for a fewbucks," sources maintained.

Sources privy to political eche-lons of Pakistan reveal that the rul-ing clique, as a political party or inindividual positions, dole out hugesums of money to beat reporters onmonthly basis in above mentionedmajor cities of Pakistan.

"A confidant of one of the headsof the political parties visits Lahoreevery month. He stays in a hotel andindividually calls in concerned beatreporters in his room to hand themover the reward for their servicesfor the cause of the political party,"says a Lahore-based political corre-spondent of one of Pakistan's lead-ing English newspapers.

The same correspondent wasapproached by the political party'sprovincial office-bearers as well asthose maneuvering media contentsin print and electronic while sittingin the Federal capital of Pakistanbut the gentleman simply refused tosell his pen for the unmatchedfavours offered to him.

He said that so-called senior andrespected correspondents amongjournalists fraternity serving inmainstream newspapers and televi-sion channels over the years receive'monthly stipend' of Rs. 5,000/- toRs. 50,000 for their unparalleledservices for the cause of the partic-

ular political party ruling the roostin the country since decades. Hesaid the politicians throw exclusivedance and drink parties for beatreporters and one of the ministers ofthe defunct Punjab cabinet, current-ly on opposition benches is knownfor such bashes for journalists.

The ugly face of Pakistan's jour-nalism is that the media tycoons arewell aware of these black sheep intheir offices over the years butbecause they themselves get theirwrong deeds done through thesepolitical correspondents, hence theyare hands and gloves with eachother in this kind of loot and plun-der.

The history of Pakistan's journal-ism is witness to the harsh realitythat the concept of 'Lifafa' journal-ism was introduced by the head ofone of the leading political partiesof Pakistan, who is teaching moral-ity and high values to his peers forthe last two decades. The same tow-ering political personality hasreportedly got purchased luxuriousflats to at least six 'leading televi-sion anchors' in Dubai so that theycontinue beating drum of his popu-larity in their pathetic programs.

But now the trend has changedand almost all the political parties,barring few, are in the race to beateach other to have contents in printand electronic media in theirfavours through offering bribe incash and kind to the journalists.

Forget other malpractices, themoral bankruptcy of Pakistani jour-nalism can be gauged from the factthat some of the well-off and well-connected journalists have 'taken onlease for 99 years' on nominal annu-al rent several Evacuee PropertyTrust Board (EPTB) flats in theheart of the city. The generosity hasbeen shown by the Chairman AsifHashmi.

One of the editors of a Lahore-based daily, who is regarded as apioneer of yellow journalism inPakistan, has reportedly got twoflats in the names of

his personal staff on LawrenceRoad. Likewise, while another edi-tor of an Urdu daily who is a self-proclaimed think-tank, has also gottwo flats in the name of his PersonalAssistant and another staffer.

Not lagging behind is another so-called leading editor of an Urdudaily in

Lahore while also hosting a talkshow on state-run PTV channel hasgot allotted a flat in the name ofreporting section staffer.One of thepolitical beat reporters of a Lahoredaily has got allotted one flat in hisown name and another in his broth-er's name while one of the seniorreporters of a daily has got one flatin his own name and other in hiswife's name.

Another editor and a seniorreporter of two different Urdudailies have got EPTB flats while atelevision channel reporter who pre-viously used to work in very smallnews agency and a political beatreporter working in an English dailyhave been allotted flats in MisriShah.

A big gun of a news channel basedin Islamabad is on the regular pay-

roll of two mighty secret agenciesof Pakistan. Covering the beat ofpolitical parties, he is so well-con-nected in the political circles that hegets hefty 'salary' from a veteranpolitician who is considered to bean authority in making or breakingpolitical alliances in the country. Atthe time of joining the journalismprofession, sources say that thejournalist under discussion hadmeager resources to make both endsmeet. But now he owns a nine-bedluxurious dwelling in a posh locali-ty in Islamabad and his childrenstudy in one of the costliest schoolsin the Federal capital.

One of the most veteran reportersof daily in Islamabad, which isdubbed as the custodian of ideologyof Pakistan by its Chief Editor is onthe payroll of three powerful politi-cians at the same time.

This 'veteran journalist' remainedunchallenged office-bearer ofRawalpindi/Islamabad Press Clubover decades, carries the stigma ofgetting monetary benefits from apowerful ruling party's Federal min-ister, one of the most vocal oppo-nent of current ruling dispensationand a veteran politician of thePunjab who was one of the blueeyed boys of the self-exiled GeneralMusharraf.

The host of a private television'sdiscussion show with special focuson South Asian region has beenplanted by one of the top secretagencies of Pakistan.

Closely related to the leader of theOperation Midnight Jackal, MajorAmir,

this journalist had the experienceof working in vernacular press butsoon after getting connected withspy agency's sleuths, he has notonly got himself well-placed in themainstream media but also hasbecome filthy rich as compared tohis peers in a short span.

A producer specially assigned thetask of covering the Afghan war hasalso been planted in a televisionnetwork in Islamabad by one of theleading spy agencies of Pakistan.Though usually remaining behindthe screen, this media person is alsogetting huge monetary benefitsfrom the spy agency for toeing theirlines in the airing of various discus-sion programmes and documen-taries, with particular focus onAfghanistan. Another TV corre-spondent covering the

Taliban activities and producingspecial reports for a popular talkshow for the same network is on thepayroll of spy agency sleuths.

One of the most senior reportersworking since generations in a lead-ing daily of Rawalpindi is also get-ting monetary benefits from one ofthe top spy agencies of Pakistan.This so-called veteran media personis also on the payroll of the rulingdispensation and is always the partof the Prime Minister's entourageon foreign visits.

A senior crime reporter in anothernews channel in Islamabad is on thepayroll of a secret agency. He isalso getting regular 'salary' from apolitical outfit for guarding theirinterests.

Yet, another Islamabad-based TV

correspondent covering religiousoutfits; and two other Islamabad TVcorrespondents covering the beatsof Northern Areas, PML (N), andSaudi Embassy and NationalDisaster Management Authority(NDMA) and Kashmir Affairs areon the pay roll of one of the top spyagencies of Pakistan.

One of the senior politicalreporters in a news channel inIslamabad is on the payroll of a spyagency and religious political party.Likewise, one of the top officials ofindependent news network isinvolved in the dirty business ofgetting money from a spy agencyand a political party.

What to say of moral, financialand related corruption, the custodi-ans of the so-called fourth pillar ofthe state are not afraid of deceivingGod Almighty by performing Hajjon the taxpayers' money. Havingmore than enough financialresources, over 200 journalists andtheir families performed Hajj on thetaxpayer's money last year. Howironic it is the monthly income ofsome of these state-sponsored Hajjbeneficiaries' was double of thetotal Hajj expenses.

Only one television channel hasdared to expose these RehmaniHujjaj, because they were accom-modated by Pakistan's InteriorMinister Rehman Malik. RehmaniHujjaj approached by the anchorcame up with one or another excuseor claimed that they did not knowthat they were performing Hajj ontaxpayers' money. How ridiculous itis.

There is no dearth of journalists inPakistan who have benefited fromthe state generosity in the form ofplots or occupation of officialaccommodations through theirinfluence. From editors, top writersand columnists in the print mediaand owners, anchors and reportersin television channels have deemedit their birth right to receive plotsand other fringe benefits from gov-ernments and political parties, irre-spective of the fa ct whether it isalms or taxpayers' money.

A senior anchor person and veter-an journalists when contacted said:"Media of any country is reflectionof that country. It shows how per-sons behave and live in that country.The way of expressing news, way oftalking of politicians in politicaldebates and discussions shows thebehavior of the people of that coun-try.

Although media's responsibility isto spread true stories but mediashould be careful in this regard.They have to adopt such a way inwhich they could aware publicwithout impacting negatively theirmindsets." He said unfortunatelythe journalists have been indulgingin malpractices at the stake of theirprofession.

Besides shaping public opinion,he said the media affects peoples'perception and prioritises theirthinking about national and interna-tional issues. "But in a societyinfested by corruption, social andeconomic injustice, how can weexpect to have journalists of integri-ty and honesty," he concluded.

The Envelopism

With revolutions in Egypt and Tunisia, conflict inLibya and Ivory Coast and now an earthquake inJapan, specialist international crisis management,security and evacuation firms are busier than ever.

Major corporations and overstretched foreignministries have turned to the handful of companiesrunning private 24-hour operations rooms and fieldteams -- often staffed by ex-military personnel -- tohelp get people out and safeguard assets.

That ranges from facilitating air tickets andadvising on safe passage, protection and refugeoptions to chartering planes and ships and occa-sional liaison with military rescue missions.

"It's been frantic," said Tom Frankland, a formerBritish Army tank officer and now operationsdirector for London-based crisis management firmNorthcott Global Solutions. "We had Tunisia andEgypt, then Libya was hugely busy -- a mixture ofenergy and government clients who wanted helpwith evacuations."

Numbers were huge. At one stage, the firm wasdealing with 10 separate requests totalling some6,000 potential evacuees of many nationalities.Another firm, Control Risks, says it arranged therepatriation of 2,000 Chinese oil workers by air.

Now, Frankland and team are pulling togethercontingency plans to extract clients from Japan ifcurrent post-quake nuclear worries turn into a full-scale disaster.

They are also keeping an eye on worsening vio-lence in Bahrain, where security forces attackedprotesters on Tuesday.

Northcott is in its first year in business competingwith much more established firms, but say theyhave had no problem finding work. Some of theevacuations have been paid for by pre-existinginsurance contracts, others paid for upfront byfirms and governments whose contingency plan-

ning had failed."I have to say it has played into our hands," said

Frankland. "We are using it to make the case thatour clients should look at purchasing political evac-uation insurance to compromise their current med-ical plans."

Some hope evacuation cover could take its placealongside kidnap and ransom (K&R) protection,which grew from modest beginnings in the 1970s tobecome a staple part of the insurance portfolio ofmany firms operating overseas.K&R policies pro-vide the cost of ransom and a specialist hostagenegotiator.

EX-SAS SPECIALISTS

"We're certainly having more people coming backto us and asking what we can offer in the longerterm," said Fraser Bomford, head of intelligencefor British consultancy AKE -- which bases itsoperations room in Hereford near the headquartersof Britain's Special Air Service (SAS) regimentfrom which its founders and many staff originallycome.

"It's been a wake-up call to people. I think somerisk managers hadn't really thought through theneeds in terms of political evacuation."

AKE -- already a major player in the K&R indus-

try -- also runs hostile environment training cours-es for both media and other private and aid sectorclients as well as providing its own security guards.It says demand for both is up.

Japan's Friday earthquake produced a tsunamithat killed several thousand or more and left anuclear power plant on the edge of meltdown.Radiation levels in nearby areas including Tokyowere rising but officials urged calm and said therewas no threat to health outside an immediate evac-uation area.

"A widespread evacuation from Tokyo would be ahugely difficult undertaking, both for ourselves andthe Japanese government," said Richard Fenning,chief executive officer of Control Risks -- one ofthe largest crisis response, security and corporateintelligence firms with a string of operations roomsworldwide.

"No one I know is really predicting that at themoment. But we are taking calls from clients whohad operations in the tsunami and earthquake areaand now need assistance with recovery and findingpeople."

Libya tested the capacity of companies operatingthere to the limits, even oil giants used to operatingin dangerous places. Industry insiders say manyoverstretched firms -- including some crisis man-agement operators themselves -- had to subcontractin outside help. Under fire from the media for aperceived slow response to evacuate British nation-als from Libya, Britain's government ultimatelysent special forces, warships and Hercules transportaircraft to collect oil workers trapped by the fight-ing.

But Control Risks' Fenning says the burden isshifting and workers may increasingly expect theircompany, not their government, to extract them. -Reuters

Evacuation, Now a Big Business

Major corporations and over-stretched foreign ministries have

turned to the handful of companies running private

24-hour operations rooms and field teams -- often staffed by ex-military

personnel -- to help get people outand safeguard assets.

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

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

Sales (July 10 to Jan 11) 45,113

Production (Jan 11) 6,698

Sales (Jan 11) 6,793

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

Sales (July 10 to Jan 11) 28,293

Production (Jan 11) 5,596

Sales (Jan 11) 5,885

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

Sales (July 10 to Jan 11) 8,779

Production (Jan 11) 1,511

Sales (Jan 11) 1,904

DEWAN FAROOQ MOTORSProduction (July 10 to Jan 11) 186

Sales (July 10 to Jan 11) 113

Production (Jan 11) 0

Sales (Jan 11) 23

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

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

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

Spread (Feburay 4,11) 7.61%

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

MS (Dec 10) 188

Kerosene (Jul 10 to Dec 10) 81

Kerosene (Dec 10) 15

JP (Jul 10 to Dec 10) 727

JP (Dec 10) 138

HSD (Jul 10 to Dec 10) 3,426

HSD (Dec 10) 634

LDO (Jul 10 to Dec 10)) 32

LDO (Dec 10) 6

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

Fuel Oil (Dec 10) 690

Others (Jul 10 to Dec 10) 6

Others (Dec 10) 2

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

MS (1 Jan 11) 49.41

MS % Chg 4.72%

Kerosene (1 Feb 11) 58.28

Kerosene (1 Jan 11) 55.01

Kerosene % Chg 5.94%

JP-1 (1 Feb 11) 58.51

JP-1 (1 Jan 11) 55.24

JP-1 % Chg 5.92%

HSD (1 Feb 11) 61.80

HSD (1 Jan 11) 58.55

HSD % Chg 5.55%

LDO (1 Feb 11) 55.32

LDO (1 Jan 11) 53.46

LDO % Chg 3.48%

Fuel Oil (1 Feb 11) 47,931

Fuel Oil (1 Jan 11) 45,947

Sector Updates

Symbol Close Vol (mn)LPCL 3.25 14.48 NCL 28.03 13.10 FFBL 39.00 6.77 LOTPTA 15.69 6.67 ENGRO 193.88 5.11

Symbol Close ChangeNESTLE 3,499.98 49.64

ULEVER 4,956.75 32.44

ILTM 210.50 10.00

APL 348.61 7.36

NRL 286.07 7.07

Symbol Close ChangeMTL 516.69 -14.2LAKST 245.19 -9.95SHEZ 144.85 -7.62BATA 522.17 -7.52PAKT 98.52 -4.12

Plus 105Minus 143Unchanged 94

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Thursday, March 17, 2011 5

Dhiyan

The ongoing bearish activities are likely to contin-

ue and the benchmark index is feared to fall close to

11,500 points. Thence, investors are advised to wait

and see but not to miss the dips where they can

invest in fertiliser, power, refinery and chemical

sectors. Index would move in a narrow band.

Khalid Iqbal Siddiqui, Head of Research Invest & Finance Securities

Azam Khan, CEO Sunrise Capital

Trade would be rangebound in the coming days.

Continued foreign selling would feed bears big time. Long-

term investors can take positions in dividend-yielders and

March-end result-announcing stocks of fertiliser and bank-

ing sectors. However, oil stocks should be avoided. Today's

trend will take cue from foreigners.

STRAIGHTJACKETED TRADE

Opening 11,829.24

Closing 11,794.57

Change 34.67

% Change 0.29

Turnover (mn) 107.94

Opening 3,578.95

Closing 3,562.13

Change 16.82

% Change 0.47

Turnover (mn) 3.87

Opening 2,765.93

Closing 2,753.27

Change 12.66

% Change 0.46

Turnover (mn) 0.05

MANILA: Traders looks at an electronic board at the Philippine Stock Exchange .Philippine share prices closed 0.46 per cent lower, weighed down by the

potential fallout of Japan's quake and nuclear crisis.-Reuters

HONG KONG: Non-nuclearenergy stocks led gains asHong Kong and Shanghaishares ended higher onWednesday, with panic sellingsubsiding and investors lookingto position themselves amid thenuclear crisis in Japan.

"There is pessimism, but nomore panic today," said WingFung Financial Group head ofresearch Mark To.

The Hang Seng Index fin-ished up 0.1 per cent at22,700.88, while the ChinaEnterprises Index gained 0.72per cent.

Alternative energy stockssurged, led by China LongyuanPower Group Corp Ltd, one ofChina's largest wind power pro-ducers. It gained 3.7 per cent onWednesday.

Investors are bullish on thenon-nuclear energy sectorbecause of the continuing Japannuclear crisis and China'sgrowing demand for energy,analysts say.

Traditional energy stocksrode this wave, with coal andgas counters among the leadinggainers of the day. Hong Kongand China Gas Co Ltd rose 2.62per cent on Wednesday after thecompany announced strong2010 earnings late on Tuesday.Its 2010 net profit was up 6 percent over 2009.

Overseas events largelyweighed more on the HongKong market ahead of annualearnings announcements today.

China Mobile Ltd, the world'slargest mobile operator, fell1.66 per cent and was the big-

ger loser on the benchmark.While the company reported2010 earnings that were in linewith expectations, analystswarned that China Mobile'sgrowth would slow withincreasing competition in thetelecommunications industry.

China's benchmark ShanghaiComposite Index closed up 1.2per cent at 2,931 points asinvestors jumped into industrialstocks as Asian marketsregained their footing afterlosses Monday and Tuesday.

"The market is up becauseregional stocks, including inJapan, are recovering from yes-terday's losses," said QianQimin, an analyst at Shenyinand Wanguo Securities inShanghai.-Reuters

HK, China mkts up;non N-energies lead

Nawaz Ali

KARACHI: Shares continuedto slide at the Karachi StockExchange on Wednesday whichclosed below 11,800 levels.

Strangely despite slackeningpolitical tension and regionalmarkets recovery investors pre-ferred to sell after the govern-ment imposed new taxes

The benchmark KSE 100-Index fell by 34 points to closeat 11,794 mark, 30-Index dropped 34 points toclose at 11,442 points while AllShare Index was down by 24points to close at 8,196 points.

"Bearishness followed gov-ernment's introduction of addi-tional taxes on income,imports, and agriculture whichit believes would help reducecurrent account deficit", saidAhsan Mehanti, Director ArifHabib Investments.

After a positive opening of 28points, market sustained therefor 20-25 minutes and touchedan intraday high of 11,919points (+ve 90). Subsequentlybulls failed to stay on the floorfor long as persistent offloadingcoupled with foreign sellingkept the market under pressureand index negative in the rest of

the session. It touched the low-est level of the day at 11,703points (-ve 125). Howeversome support at lower levelsreduced losses.

The imposition of new taxesproved to be the major selling-trigger despite some positivenews from the political frontalong with recovery in theregional stock markets.

Government introduced a 17per cent sales tax on fertilisers,tractors, pesticides, plants,machinery and equipmentincluding spare parts. In addi-tion to that, a 15 per cent floodsurcharge was also imposed oncorporate and individuals whilespecial excise duty (SED) hasbeen raised from 1 to 2.5 percent.

Foreign investors alsoremained on the selling side asthey net-sold equities worth$2.48 million on Wednesday.Their net selling worth, so farduring the week, stands at$6.37 million.

Volumes remained on thelower side as 107.9 millionshares traded during the daywhich is 27.1 million less ascompared to a turnover of 135million shares a day earlier.

See # 12 Page 11

Newtaxes

weighon KSE

MUMBAI: Indian shares firmed1.1 per cent on Wednesday,helped by gains in world equitiesand as value buying emerged onviews that most negatives werealready priced in.

Financials led the gains, aheadof the Reserve Bank of India's(RBI) monetary policy reviewon Thursday, as investors dis-counted a likely 25 basis pointrate hike and did not expect veryaggressive policy actions.

The banking sector indexgained 2.2 per cent.

"The rate hike that is likelytomorrow was discounted longback. Also, we do not expectRBI's tone to be very hawkish,"said Prakash Diwan, head ofinstitutional business at localbrokerage Networth StockBroking.

The 30-share BSE Sensexclimbed 1.05 per cent, or 191.05points, to 18,358.69 points, with24 of its components finishinghigher.

"After the under performance See # 13 Page 11

Indian indicesjump on banks

SINGAPORE: Asian finan-

cial markets rallied on

Wednesday, with Tokyo

stocks rebounding 5.7 per

cent after a steep two-day

sell-off on Japan's killer

earthquake and unfolding

nuclear crisis.

Other Asian stock markets

were also higher, but another

fire at the earthquake-dam-

aged Fukushima Daiichi

nuclear plant north of Tokyo

and fears of more radiation

leaks kept investors on edge

and Tokyo stocks volatile.

European shares were

expected to open little

changed as investors watched

developments in Japan, while

US stock index futures were

flat.

"The market in general

understands that Japanese

shares are oversold, but

uncertainty over the

Fukushima nuclear power

plant is clearly making market

participants very nervous,"

said Kazuhiro Takahashi, gen-

eral manager at Daiwa

Securities Capital Markets.

Asian markets also received

a fillip from US stocks, which

closed down but off lows as a

more upbeat view from the

Federal Reserve helped limit

Japan-related losses. The Fed

stuck with its ultra-loose mon-

etary policy but said the econ-

omy was gaining traction.

The gains in Tokyo stocks

were led by short-covering by

hedge funds, analysts said,

adding that the market was

still extremely volatile.

"The rebound is pretty

strong as investors realised

they may have panicked a bit

too much yesterday," said

Fujio Ando, senior managing

director at Chibagin Asset

Management.

"But it's mostly short cover-

ing by both domestic and for-

eign players, and not honest,

active buying, because

nuclear worries are still

strong. If we hear anything

about the nuclear situation

improving, investors will

aggressively pile into the

Nikkei."

Japan's Nikkei average

surged 5.68 per cent, clawing

back about a third of its losses

since a massive earthquake

and tsunami hit the country on

Friday, and closing above the

psychologically important

9,000 point level at 9,093.72.

Nikkei futures were up 4.2

per cent.

MSCI's index of Asian

shares outside of Japan rose

0.9 per cent.

Australian shares closed 0.65

per cent up, led by a relief rally

in uranium producers Paladin

and Energy Resources of

Australia , which had sunk on

Monday on fears that many

countries would scale back or

suspend their nuclear power

programmes in light of Japan's

woes.-Reuters

Nikkei surges afterrout, relief for Asia

FTSE fallsas JapanN-crisisworsens

LONDON: Heightened fearsabout the nuclear crisis in Japansaw investors shun equities onWednesday, with falls byheavyweight commodity issuesdragging the top share indexlower.

Banks were the biggest fall-ers, however, also under pres-sure as a downgrade ofPortugal's credit rating byMoody's further unnervedinvestors.

At the close, the FTSE 100was down 97.05 points, or 1.7per cent at 5,598.23, droppingafter a brief rally back above5,700 earlier in the session wassnuffed out.

"We are now getting in to therealms of selling the rally ratherthan buying the dips," saidDavid Morrison, market strate-gist at GFT Global.

The blue chip index endeddown for a sixth consecutivesession, taking its total fall overthat period to 6.3 per cent.

"We have now scythedthrough some pretty significantsupport levels which we needto rally and recapture veryquickly or else we are talkingabout a pretty sizeable break-down in the market structure,"GFT's Morrison added.

Japan's nuclear crisisappeared to be spinning out ofcontrol on Wednesday afterworkers withdrew briefly froma stricken power plant becauseof surging radiation levels anda helicopter failed to dropwater on the most troubledreactor.

See # 14 Page 11

US stocks late-morning

Wall Streetdrops for3rd day

NEW YORK: US stocksdropped for a third day in avolatile session onWednesday as worries aboutJapan's nuclear crisis esca-lated, and analysts sawmore volatility ahead for themarket.

The market extended loss-es, with all three majorindexes briefly down morethan 1 per cent. A Vienna-based UN nuclear watchdogsaid Japanese officials areworried about the state of apool holding spent nuclearfuel at a reactor complexdamaged by the earthquakeand tsunami.

Earlier, Japanese workerswithdrew briefly from astricken nuclear power plantbecause of surging radiationlevels and a helicopter wasunable to drop water to coolthe most troubled reactor.

"We are so fixated here onJapan, and this intradayvolatility is without ques-tion here to stay as we areall quickly learning whatnuclear power is. You canthrow everything else outthe window," said RyanDetrick, senior technicalstrategist at Schaeffer'sInvestment Research inCincinnati, Ohio.

Nikkei dollar-denominat-ed futures were down 4 percent, while the ISharesMSCI Japan Index Fund slid3.1 per cent at $9.72.

Adding to market worries,forces in Bahrain, a neigh-bor of top oil exporter SaudiArabia, launched a crack-down on protesters. Thepolitical upheaval sentBrent crude to about $111 abarrel.

The Dow Jones industrialaverage was down 103.62points, or 0.87 per cent, at11,751.80. The Standard &Poor's 500 Index was down9.49 points, or 0.74 percent, at 1,272.38. TheNasdaq Composite Indexwas down 21.83 points, or0.82 per cent, at 2,645.50. -Reuters

SE Asian stockssnap losing streak

European sharesfall for sixth day

ANNOUNCEMENT

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

Pak Tobacco Yearly 21%(F) 925.10 3.62

Thursday, March 17, 20116

Volume 107,940,770

Value 5,242,870,797

Trades 67,784

Advanced 105

Declined 143

Unchanged 99

Total 347

Current 8196.1

High 8282.15

Low 8132.7

Change i24.28

Current 11794.57

High 11921.67

Low 11697.38

Change i34.67

Current 11442.97

High 11580.63

Low 11318.76

Change i34.64

Market KSE 100 Index All Share Index KSE 30 Index

Current 19687.47

High 19849.78

Low 19461.7

Change i25.06

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

Lafarge Pakistan Cement Ltd

LPCL closed down -0.08 at 3.25. Volume was 529 per cent above aver-

age (trending) and Bollinger Bands were 6 per cent narrower than nor-

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

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

rent calendar year (9MCY10).

LPCL is currently 7.1 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 very strong flows of volume into LPCL (bullish). Trend

forecasting oscillators are currently bullish on LPCL.

RSI (14-day) 60.50 Total Assets (Rs in mn) 19,704.24

MA (10-day) 3.01 Total Equity (Rs in mn) 9,763.73

MA (100-day) 3.17 Revenue (Rs in mn) 8,129.96

MA (200-day) 3.04 Interest Expense 1,230.81

1st Support 3.15 Loss after Taxation (1,278.96)

2nd Support 3.05 EPS 09 (Rs) (0.974)

1st Resistance 3.40 Book value / share (Rs) 7.44

2nd Resistance 3.55 PE 10 E (x) -

Pivot 3.30 PBV (x) 0.44

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

NCL closed down -0.26 at 28.03. Volume was 336 per cent above aver-

age (trending) and Bollinger Bands were 52 per cent wider than normal.

The company's profit after taxation stood at Rs518.94 million which

translates into an Earning Per Share of Rs3.25 for the half year of cur-

rent fiscal year (1HFY11).

NCL is currently 38.1 per cent above its 200-day moving average and

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

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

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

forecasting oscillators are currently bullish on NCL.

RSI (14-day) 61.43 Total Assets (Rs in mn) 14,251.88

MA (10-day) 27.51 Total Equity (Rs in mn) 4,432.51

MA (100-day) 23.73 Revenue (Rs in mn) 13,343.54

MA (200-day) 20.30 Interest Expense 1,101.05

1st Support 27.10 Profit after Taxation 931.47

2nd Support 26.20 EPS 10 (Rs) 5.875

1st Resistance 28.70 Book value / share (Rs) 27.96

2nd Resistance 29.40 PE 11 E (x) 4.31

Pivot 27.80 PBV (x) 1.00

Nishat (Chunian) Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

SBL closed down -0.02 at 1.73. Volume was 152 per cent above aver-

age (trending) and Bollinger Bands were 9 per cent narrower than nor-

mal. The company's loss after taxation stood at Rs119.594 million which

translates into a Loss Per Share of Rs0.10 for the year ended CY10.

SBL is currently 14.4 per cent below its 200-day moving average and

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

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

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

forecasting oscillators are currently bullish on SBL.

RSI (14-day) 45.56 Total Assets (Rs in mn) 23,734.13

MA (10-day) 1.79 Total Equity (Rs in mn) 7,075.66

MA (100-day) 1.90 Revenue (Rs in mn) 1,878.63

MA (200-day) 2.02 Interest Expense 1,208.86

1st Support 1.65 Loss after Taxation (593.05)

2nd Support 1.64 EPS 09 (Rs) (0.676)

1st Resistance 1.71 Book value / share (Rs) 8.07

2nd Resistance 1.76 PE 10 E (x) -

Pivot 1.70 PBV (x) 0.21

Samba Bank Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

DCL closed down -0.05 at 1.76. Volume was 51 per cent below aver-age (consolidating) and Bollinger Bands were 38 per cent narrowerthan normal. The company's loss after taxation stood at Rs325.06 mil-lion which translates into a Loss Per Share of Rs0.90 for the half yearof current fiscal year (1HFY11).DCL is currently 3.0 per cent below its 200-day moving average and isdisplaying a downward trend. Volatility is relatively normal as comparedto the average volatility over the last 10 trading sessions. Volume indi-cators reflect volume flowing into and out of DCL at a relatively equalpace. Trend forecasting oscillators are currently bearish on DCL.

RSI (14-day) 42.90 Total Assets (Rs in mn) 20,869.47

MA (10-day) 1.83 Total Equity (Rs in mn) 3,628.10

MA (100-day) 1.94 Revenue (Rs in mn) 3,494.78

MA (200-day) 1.81 Interest Expense 11.15

1st Support 1.63 Loss after Taxation (622.76)

2nd Support 1.56 EPS 10 (Rs) (1.743)

1st Resistance 1.87 Book value / share (Rs) 10.15

2nd Resistance 2.04 PE 11 E (x) -

Pivot 1.80 PBV (x) 0.17

Dewan Cement Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,459.52 1,479.50 1,445.49 1,459.76 0.24 0.02

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

6,125,126 - - 65,194.15 mn 1,089,783.18 mn 1,518.98

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

10.20 3.32 32.54 55.94 5.48 1,459.52

Attock Petroleum 691 6.30 341.25 351.55 338.18 348.61 7.36 372584 401.00 321.00 300 20B115.00 -

Attock Refinery 853 4.98 116.56 122.38 116.82 122.33 5.77 1860524 146.90 98.25 - - - -

BYCO Petroleum 3921 - 8.99 9.76 8.97 9.39 0.40 3105685 12.24 8.20 - - - -

Mari Gas CompanySPOT 735 7.61 110.77 110.93 109.00 109.62 -1.15 15059 141.65 99.46 31 - 23.43 -

National Refinery 800 5.93 279.00 290.90 278.00 286.07 7.07 126644 335.00 254.00 200 - - -

Oil & Gas Development 43009 9.94 148.73 150.00 146.25 146.93 -1.80 669465 185.00 144.97 55 - 15.00 -

Pak Petroleum 11950 7.60 207.20 209.50 206.10 207.94 0.74 626235 229.80 190.10 90 20B 50.00 -

Pak Oilfields 2365 7.23 310.24 315.64 309.60 313.64 3.40 2064589 341.50 277.09 255 -100.00 -

Pak Refinery Limited 350 - 99.15 103.74 99.02 102.92 3.77 84082 122.22 83.00 - - - -

P.S.O XD 1715 4.72 277.27 282.00 276.00 279.14 1.87 298578 317.79 265.00 80 - 50.00 -

Shell Pakistan 685 10.46 203.66 205.84 202.16 203.88 0.22 7351 222.00 186.83 120 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

992.61 997.39 981.51 988.09 -4.52 -0.46

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

16,972,797 - - 47,070.70 mn 132,698.61 mn 992.61

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

6.21 0.54 8.64 16.68 2.69 986.41

(Colony) Thal 56 - 1.20 1.68 1.40 1.50 0.30 33811 1.75 0.50 - - - -

AL-Qadir Textile 76 - 10.80 9.80 9.80 9.80 -1.00 1000 10.80 5.61 10 - - -

Amtex Limited 2594 - 2.81 2.85 2.65 2.67 -0.14 255089 4.68 2.35 30 - - -

Artistic Denim 840 7.19 20.00 19.99 19.53 20.00 0.00 203 24.59 19.11 20 - - -

Azgard Nine 4493 - 9.04 9.20 8.91 8.97 -0.07 1479148 12.84 8.05 - - - -

Babri Cotton 33 0.20 14.50 15.35 15.35 15.35 0.85 6000 16.60 9.50 - 15B - -

Bata (Pak) 76 4.53 529.69 539.50 512.00 522.17 -7.52 402 700.00 493.50 280 - - -

Bilal Fibres 141 0.64 0.95 1.01 0.84 0.84 -0.11 2001 2.00 0.84 - - - -

Blessed Tex Mills 64 0.75 58.00 58.01 58.00 58.00 0.00 301 63.70 46.00 50 - - -

Chenab Limited 1150 - 2.70 2.93 2.65 2.67 -0.03 40002 3.76 2.05 - - - -

Colony Mills Ltd 2442 1.95 2.43 2.43 2.22 2.22 -0.21 1000 2.97 2.00 - - - -

Crescent Jute 238 - 1.00 1.09 0.73 1.00 0.00 143 1.43 0.32 - - - -

Crescent Textile 492 2.92 15.29 15.90 15.50 15.89 0.60 1036 23.99 15.00 15 - - -

D M Textile 31 - 4.00 4.00 4.00 4.00 0.00 952 4.00 1.99 - - - -

D S Ind Ltd 600 - 1.53 1.64 1.50 1.53 0.00 21170 2.10 1.20 - - - -

Dawood Lawrencepur 514 23.90 49.05 46.60 46.60 46.60 -2.45 2616 49.05 35.00 5 15B - -

Dewan Mushtaq Textile 34 0.15 4.37 4.26 4.20 4.22 -0.15 8297 8.90 2.90 - - - -

Din Textile 204 0.77 30.22 30.00 30.00 30.22 0.00 255 33.69 25.10 20 10B - -

Gadoon Textile XD 234 0.79 83.00 82.50 80.00 80.18 -2.82 2543 91.00 61.20 70 - - -

Gulistan Spinning 146 0.33 8.00 8.00 8.00 8.00 0.00 12300 9.23 5.02 10 - - -

Gulshan Spinning 222 0.38 10.49 10.35 10.35 10.35 -0.14 3000 11.00 6.30 10 20B - -

Hajra Textile 138 - 0.55 0.60 0.41 0.55 0.00 41000 1.10 0.25 - - - -

Hira Textile Mills Ltd. 716 0.94 4.81 4.89 4.50 4.66 -0.15 39102 5.20 3.31 10 - - -

Ideal Spinning 99 0.96 9.36 10.25 8.50 9.36 0.00 204 10.90 4.56 - - - -

Idrees Textile 180 2.32 4.25 4.49 4.16 4.23 -0.02 18524 4.95 3.01 10 - - -

Indus Dyeing 181 2.55 292.48 307.10 277.88 295.79 3.31 1312 348.10 188.01 50 - - -

Island Textile 5 0.22 200.50 210.50 210.40 210.50 10.00 524 210.50 99.33 50 - - -

Khalid Siraj 107 0.20 1.19 1.10 0.99 1.01 -0.18 40433 1.69 0.25 - - - -

Kohinoor Ind 303 - 1.50 1.50 1.40 1.45 -0.05 9713 1.98 0.75 - - - -

Kohinoor Textile 1455 7.76 4.51 4.74 4.50 4.50 -0.01 5001 5.95 3.60 - - - -

Mohd Farooq 189 - 0.99 0.91 0.88 0.99 0.00 236 1.79 0.60 - - - -

Mukhtar Textile 145 - 0.40 0.48 0.40 0.40 0.00 10020 0.88 0.13 - - - -

Nishat (Chunian) 1617 4.31 28.29 28.50 26.90 28.03 -0.26 13097101 29.15 21.95 15 - - -

Nishat Mills 3516 5.64 62.87 63.88 62.35 63.51 0.64 1661252 71.89 57.20 25 45R - -

Pak Synthetic 560 2.97 18.42 19.00 18.03 18.59 0.17 28354 19.90 8.70 - - - -

Paramount Spinning 174 0.66 13.40 13.45 13.45 13.45 0.05 2000 15.49 8.50 10 10B - -

Prosperity 185 1.15 14.76 14.60 14.60 14.60 -0.16 2415 15.44 13.10 30 - - -

Ravi Textile 250 - 1.00 1.10 0.99 1.00 0.00 10108 1.80 0.40 - - - -

Redco Textile 213 3.59 0.62 0.61 0.61 0.61 -0.01 2000 0.99 0.40 - - - -

Reliance Weaving 308 0.67 13.10 12.90 12.90 12.90 -0.20 1500 13.79 8.60 25SD - - -

Safa Textile 40 3.33 4.50 3.80 3.80 3.80 -0.70 524 7.00 3.80 - - - -

Saif Textile 264 0.37 8.25 8.00 7.45 7.51 -0.74 20852 11.50 3.90 - - - -

Sally Textile 88 0.23 5.85 6.69 5.90 5.98 0.13 31500 7.94 3.63 10 - - -

Salman Noman 42 0.70 3.75 3.50 3.00 3.20 -0.55 14330 6.35 2.99 - 5B - -

Samin Textile 267 4.56 5.83 6.40 6.39 6.39 0.56 3001 7.40 4.55 - 100R - -

Sargoda Spinning 312 1.18 3.18 4.09 3.70 3.93 0.75 2521 4.65 1.55 5 - - -

Saritow Spinning 133 0.43 1.80 2.14 2.14 2.14 0.34 1000 2.89 1.00 - - - -

Service Ind 120 6.62 188.00 195.00 186.00 193.24 5.24 4398 253.00 186.00 - - - -

Thal Limited 307 5.26 105.29 110.00 103.00 106.02 0.73 5828 132.00 100.51 80 20B - -

Treet Corp 418 5.91 46.40 48.24 46.50 48.07 1.67 42903 63.30 44.10 - - - -

Zahoor Cotton 99 - 0.40 0.68 0.68 0.68 0.28 3000 0.87 0.25 - - - -

Zephyr Textile Ltd 594 6.62 3.52 3.99 3.20 3.97 0.45 501 4.50 2.56 - - - -

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

996.04 1,004.36 990.95 996.72 0.68 0.07

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

20,236 - - 3,763.71 mn 4,809.26 mn 1,007.09

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

2.35 0.25 10.64 6.27 2.67 995.02

AL-Abid Silk 134 2.84 24.52 25.74 25.74 24.52 0.00 300 40.00 23.33 -20B 20R - -

Gauhar Engineering Ltd 22 - 0.80 1.50 1.50 1.50 0.70 500 2.35 0.50 - - - -

Hussain Industries 106 - 5.67 5.00 4.90 5.00 -0.67 501 8.80 4.60 - - - -

Pak Elektron 1219 3.31 13.14 13.25 13.03 13.16 0.02 15780 15.88 12.07 - 10B - -

Tariq Glass Ind 231 1.81 13.55 13.70 13.26 13.70 0.15 3154 24.00 12.51 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,985.07 2,039.16 1,951.87 1,999.31 14.24 0.72

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

101,229 - - 11,335.33 mn 288,609.85 mn 1,999.31

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

47.59 14.42 30.30 30.57 0.64 1,953.63

Bawany Sugar 87 - 5.50 5.26 5.26 5.50 0.00 457 6.50 3.51 - - - -

Crescent Sugar 214 0.68 6.05 6.75 6.75 6.75 0.70 6250 7.15 5.05 - - - -

Dewan Sugar 365 - 3.15 3.20 3.01 3.04 -0.11 36001 4.20 2.52 - - - -

Habib Sugar 750 8.64 21.94 21.98 21.62 21.78 -0.16 7577 36.30 20.25 25 25B - -

Habib-ADM Ltd 200 6.68 11.20 10.97 10.95 10.96 -0.24 522 12.85 10.85 40 - - -

Haseeb Waqas 324 - 13.00 12.15 12.15 12.15 -0.85 1000 23.62 12.15 10 - - -

Mirza Sugar 141 - 3.48 3.45 3.40 3.40 -0.08 999 6.70 2.65 10 - - -

National Foods 414 9.62 55.00 55.02 55.00 55.00 0.00 600 75.50 52.01 12 - - -

Nestle PakistanSPOT 453 38.59 3450.34 3590.00 3350.53 3499.98 49.64 14005 3695.00 2312.94 750 - - -

Noon Sugar 165 1.28 11.50 12.00 11.70 11.95 0.45 13449 13.70 9.00 - - - -

Premier Sugar 38 - 39.50 39.43 37.53 39.50 0.00 331 51.35 34.25 10 - - -

Quice Food 107 6.82 3.01 3.20 3.00 3.00 -0.01 11500 4.00 2.10 - - - -

S S Oil 57 0.26 4.00 4.40 4.00 4.21 0.21 7500 4.75 2.50 - - - -

Sakrand Sugar 223 - 1.95 1.99 1.99 1.99 0.04 500 3.26 1.60 - - - -

Sanghar Sugar 119 2.26 12.29 11.51 11.51 12.29 0.00 135 15.01 11.00 15 - - -

Shakarganj Mills 695 0.37 5.25 5.38 4.35 5.25 0.00 238 6.88 4.01 - - - -

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

1,104.89 1,126.21 1,088.00 1,102.30 -2.59 -0.23

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

150,557 - - 6,768.53 mn 40,608.60 mn 1,118.16

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

3.83 0.97 25.35 20.42 5.33 1,102.30

Agriautos Ind 144 4.75 70.81 72.99 70.50 72.46 1.65 4010 82.63 66.45 90 - - -

Atlas Battery 101 5.11 191.39 192.95 190.30 192.31 0.92 1308 205.00 172.00 100 20B - -

Atlas Honda 626 9.36 135.78 137.34 134.50 134.78 -1.00 3629 143.80 118.74 - - - -

Dewan Motors 890 - 1.95 2.03 1.95 1.98 0.03 66950 2.54 1.50 - - - -

Exide (PAK) 56 4.39 183.02 190.00 179.00 179.05 -3.97 663 217.44 170.11 60 - - -

General Tyre 598 4.52 22.79 23.25 22.57 22.79 0.00 316 26.74 21.00 20 - - -

Ghandhara Nissan 450 - 3.51 3.64 3.41 3.46 -0.05 3112 5.36 3.05 - - - -

Ghani Automobile Ind 200 5.69 4.32 4.24 4.00 4.10 -0.22 6710 5.49 3.71 - - - -

Honda Atlas Cars 1428 - 10.00 10.20 9.90 9.96 -0.04 2355 12.87 9.52 - - - -

Indus Motors XD 786 9.37 220.00 223.00 215.00 216.45 -3.55 22402 309.73 215.00 150 - 50.00 -

Pak Suzuki 823 11.56 61.49 64.05 61.01 63.00 1.51 39029 74.80 60.00 5 - - -

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

1,621.92 1,611.53 1,544.57 1,583.31 -38.61 -2.38

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

122,028 - - 1,336.62 mn 31,598.89 mn 1,650.47

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

7.66 2.91 38.02 131.49 17.17 1,583.31

AL-Ghazi Tractor XD 215 4.64 209.51 207.49 199.05 206.25 -3.26 7109 244.95 199.05 400 - - -

Bolan Casting 104 4.87 50.91 48.57 48.38 48.55 -2.36 612 52.25 43.00 25 10B - -

Ghandhara Ind 213 8.04 9.62 9.60 9.17 9.17 -0.45 5105 13.50 8.25 - - - -

Hinopak Motor 124 - 115.98 114.49 111.00 111.91 -4.07 361 138.60 111.00 - - - -

KSB Pumps 132 7.35 58.48 61.40 60.20 61.35 2.87 2105 67.24 54.05 - - - -

Millat Tractors 366 7.96 530.89 527.99 504.35 516.69 -14.20 106680 568.40 466.27 650 25B325.00 -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

920.58 933.63 919.52 926.38 5.80 0.63

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

46,275 - - 3,043.31 mn 34,786.79 mn 927.59

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

1.79 0.79 43.91 15.55 8.67 920.58

Cherat Papersack 115 2.40 52.58 52.95 50.40 52.25 -0.33 5523 81.49 47.80 20 25B - 50R

ECOPACK Ltd 230 - 2.32 2.33 2.13 2.20 -0.12 3166 3.20 2.03 - - - -

Ghani Glass 1067 5.30 51.00 52.75 51.00 51.03 0.03 2105 56.45 48.10 25 10B - -

MACPAC Films 389 2.05 7.26 7.95 7.30 7.55 0.29 25722 8.15 2.50 - - - -

Merit Pack 47 15.88 29.03 29.44 28.50 28.59 -0.44 862 33.80 21.50 - - - -

Packages Ltd 844 - 114.50 115.90 115.00 115.90 1.40 5011 143.00 105.02 32.5 - - -

Tri-Pack Films XD 300 7.86 127.52 129.90 126.51 129.55 2.03 3886 144.80 118.00 100 - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

860.92 877.54 845.95 856.57 -4.35 -0.50

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

16,296,062 - - 54,792.74 mn 61,893.07 mn 873.72

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

6.29 0.45 7.10 19.04 3.03 856.57

Al-Abbas Cement 1828 - 2.65 2.70 2.45 2.46 -0.19 5007 3.88 2.15 - 100R - -

Attock Cement 866 6.33 49.50 50.01 49.22 50.00 0.50 9722 63.82 48.50 50 - - -

Balochistan Glass Ltd 858 - 2.13 2.60 2.01 2.30 0.17 13706 4.24 2.01 - - - -

Berger Paints 182 - 16.02 16.23 16.10 16.23 0.21 1500 24.16 14.72 - 122R - -

Buxly Paints 14 - 9.00 8.40 8.32 9.00 0.00 102 15.50 7.52 - - - -

Cherat Cement 956 39.42 9.74 10.10 9.31 9.46 -0.28 3236 11.50 8.00 - - - -

Dadabhoy Cement 982 12.62 1.66 1.64 1.63 1.64 -0.02 8985 2.05 1.50 - - - -

Dandot Cement 948 - 1.50 1.51 1.50 1.50 0.00 1200 3.49 1.25 - - - -

Dewan Cement 3891 - 1.81 1.97 1.73 1.76 -0.05 299406 2.55 1.50 - - - -

DG Khan Cmt.LtdSPOT 3651 10.39 24.23 24.64 23.80 24.00 -0.23 452132 32.30 21.20 - 20R - 20R

Fauji Cement 6933 5.82 4.18 4.29 4.16 4.19 0.01 45350 5.35 3.97 - - - 92R

Fecto Cement 502 2.02 6.60 6.66 6.66 6.66 0.06 1206 8.00 6.30 - - - -

Flying Cement Ltd 1760 - 1.49 1.60 1.49 1.50 0.01 13550 2.00 1.30 - - - -

Haydery Const 32 - 0.49 0.49 0.44 0.47 -0.02 2189 0.99 0.25 - - - -

Kohat Cement 1288 - 5.82 6.74 5.80 5.82 0.00 8691 6.95 5.11 - - - -

Lafarge Pakistan Cmt. 13126 - 3.33 3.45 3.20 3.25 -0.08 14482632 3.88 2.65 - - - -

Lucky Cement 3234 5.98 66.88 67.35 65.22 66.59 -0.29 839042 78.17 59.55 40 - - -

Maple Leaf Cement 5261 - 2.29 2.37 2.26 2.34 0.05 85582 3.08 1.92 - - - -

Maple Leaf(Pref) 541 3.13 4.26 5.25 3.52 4.26 0.00 110 5.89 3.21 - - - -

Pioneer Cement 2271 - 5.97 6.15 5.96 5.98 0.01 22602 7.45 5.17 - - - -

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

1,028.89 1,035.40 1,011.18 1,020.39 -8.50 -0.83

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

76,904 - - 3,596.11 mn 9,604.37 mn 1,034.94

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

3.12 1.03 33.10 30.91 9.92 1,019.09

Crescent Steel XD 565 2.79 26.50 26.75 26.20 26.63 0.13 621 31.00 25.60 30 - 10.00 -

Dost Steels Ltd 675 - 2.07 2.17 2.01 2.02 -0.05 12010 2.98 1.80 - - - -

Huffaz Pipe XD 555 423.33 12.85 13.00 12.60 12.70 -0.15 1828 16.51 12.56 - - 15.00 -

International Ind 1199 18.51 51.68 51.97 50.90 50.90 -0.78 895 62.20 45.81 55 20B - -

Siddiqsons Tin 785 40.91 9.06 9.00 8.62 9.00 -0.06 61550 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

1,007.56 1,037.96 1,024.01 1,030.84 23.27 2.31

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

20,825 - - 1,186.83 mn 2,842.82 mn 1,030.84

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

5.26 0.39 7.47 25.28 4.81 1,007.56

Century Paper 707 - 15.00 15.35 15.00 15.26 0.26 14525 19.69 14.50 - - - -

Pak Paper Product 50 8.31 37.77 38.90 36.00 36.08 -1.69 5300 48.90 35.17 2533.33B - -

Security Paper 411 6.84 37.00 38.30 38.30 38.30 1.30 1000 47.70 34.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,738.99 1,768.86 1,697.36 1,737.51 -1.48 -0.09

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

32,539,954 - - 52,251.88 mn 371,825.96 mn 1,776.37

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

9.27 3.24 35.00 48.81 5.27 1,737.51

Agritech Limited 3924 21.26 22.36 22.99 21.25 21.26 -1.10 503 26.73 21.25 - - - -

Bawany Air 75 7.36 8.00 8.24 7.75 7.80 -0.20 1301 10.15 6.11 5 10R - -

BOC (Pak) 250 9.24 89.34 91.00 90.00 90.00 0.66 1400 103.94 82.00 60 - - -

Clariant PakSPOT 273 6.99 196.33 198.00 193.00 195.29 -1.04 45626 213.30 166.00 135 25B - -

Dawood Hercules 1203 15.82 282.38 285.99 274.01 282.59 0.21 546918 294.00 178.50 50 300B - -

Descon Chemical 1996 - 2.99 3.08 2.77 2.81 -0.18 251395 3.58 2.34 - - - -

Descon Oxychem Ltd. 1020 11.25 9.19 9.38 8.47 8.55 -0.64 3898579 9.60 6.00 - - - -

Dewan Salman 3663 - 2.63 2.79 2.63 2.66 0.03 1218240 3.47 2.26 - - - -

Engro Corp. LtdXDXB 3933 10.65 189.76 195.00 189.00 193.88 4.12 5105336 238.50 189.00 60 20B - -

Engro Polymer 6635 - 12.19 12.33 11.97 12.01 -0.18 369330 15.87 11.75 - - - -

Fatima Fertilizer 22000 - 12.26 12.55 12.12 12.30 0.04 830462 12.95 9.16 - - - -

Fauji Fertilizer 8482 7.90 130.61 131.90 125.60 128.39 -2.22 3643475 157.90 108.00 130 25B - -

Fauji Fert.Bin Qasim XD 9341 7.36 38.57 39.45 37.86 39.00 0.43 6769420 43.99 34.75 65.5 - - -

Gatron Ind 384 2.91 45.42 43.58 43.15 45.42 0.00 460 52.00 41.66 20 - - -

Ghani Gases Ltd 725 9.48 10.89 11.05 10.75 10.81 -0.08 55527 13.07 10.43 - - - -

ICI Pakistan 1388 9.57 164.11 169.75 162.60 167.55 3.44 1180614 169.75 138.00 175 - - -

Ittehad ChemicalSPOT 360 6.09 27.64 26.34 26.34 27.64 0.00 291 36.00 23.07 5 - 5 -

Lotte PakistanSPOT 15142 5.77 15.78 15.97 15.51 15.69 -0.09 6667826 16.80 13.11 5 - - -

Mandviwala 74 - 1.02 1.39 0.90 1.03 0.01 1349 2.45 0.57 - - - -

Nimir Ind Chemical 1106 29.70 3.09 3.20 2.93 2.97 -0.12 1689384 3.34 1.62 - - - -

Shaffi Chemical 120 - 2.46 2.45 2.40 2.44 -0.02 1755 2.78 1.55 - - - -

Sitara Chem Ind 214 8.78 104.92 105.00 102.60 104.17 -0.75 1944 131.90 90.78 25 5B - -

Sitara Peroxide 551 7.31 17.73 18.45 16.80 16.97 -0.76 1340664 18.45 11.81 - - - -

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

908.99 913.58 896.15 900.29 -8.70 -0.96

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

45,580 - - 3,904.20 mn 30,147.13 mn 908.99

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

6.59 1.47 22.31 44.54 6.76 898.78

Abbott (Lab)SPOT 979 7.28 87.69 88.50 87.25 87.49 -0.20 2914 112.50 78.59 50 - - -

GlaxoSmithKline 1707 15.85 81.86 82.00 80.00 80.50 -1.36 32840 89.98 68.00 40 15B - -

Highnoon (Lab) 165 7.04 25.66 25.40 25.30 25.40 -0.26 3222 30.48 24.50 - - - -

IBL HealthCare Ltd 200 3.94 11.00 10.00 10.00 10.00 -1.00 2000 11.00 7.16 - - - -

Sanofi-AventisSPOT 96 6.90 160.31 166.00 160.00 160.31 0.00 101 174.00 134.00 100 - - -

Searle Pak 306 5.20 60.00 60.00 58.05 59.54 -0.46 4500 69.00 58.05 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

681.39 691.06 675.60 676.60 -4.79 -0.70

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

10,335 - - 3,242.17 mn 11,506.74 mn 696.89

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

5.05 1.29 25.53 11.08 2.19 676.60

Pak Int Cont.Terminal 1092 6.49 68.00 68.90 67.50 67.50 -0.50 2034 75.72 63.00 40 - - -

PNSC 1321 8.30 30.06 30.65 29.63 29.87 -0.19 8301 39.45 29.63 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

Engro Corp (Consolidated) 17-Mar 31-Mar 20(F),20(B) 09-Mar 31-MarNishat Mills (Unconsolidated) # 17-Mar 31-Mar - - 31-MarClarient Pakistan 18-Mar 25-Mar 135.25(B) 10-Mar 25-MarHub Power (Unconsolidated) 18-Mar 25-Mar 25(I) 10-Mar -Janana Textile Mills # 18-Mar 25-Mar - - 26-MarBannu Woollen Mills # 18-Mar 25-Mar - - 26-MarLotte Pakistan 18-Mar 24-Mar 5 10-Mar 24-MarMari Gas 19-Mar 25-Mar 23.43(I) - -Abbott Laboratories Pak 19-Mar 28-Mar 30(F) 11-Mar 29-MarMybank Ltd 19-Mar 23-Mar - - 25-MarAmerican Life Insurance # 19-Mar 25-Mar - - 25-MarMeezan Bank 19-Mar 28-Mar 15(B) 11-Mar 28-MarRafhan Maize Prod 21-Mar 29-Mar 550(F) 11-Mar 29-MarD.G Khan Cement (Consolidated) 21-Mar 28-Mar 20(R) 11-Mar -Crescent Jute Products # 21-Mar 27-Mar - - 24-MarBank Alfalah 22-Mar 28-Mar - - 28-MarOlympia Textile Mills # 22-Mar 30-Mar - - 30-MarPak Datacom 22-Mar 29-Mar 15(I) - -Ittehad Chemicals # 22-Mar 28-Mar 5(I) 14-Mar 28-MarMCB Bank 22-Mar 31-Mar 30(F),10(B) 14-Mar 31-MarNestle Pakistan 22-Mar 28-Mar 300(F) 14-Mar 28-Mar

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 54.08 54 53.5 54 -0.08 844

TRG Pakistan Ltd. 3.16 3.25 3.1 3.1 -0.06 1037862

Indus Fruit 0.45 0.5 0.5 0.5 0.05 4000

Murree Brewery Co. 96 100.8 95 100.8 4.8 65137

Shezan International 152.47 148.01 144.85 144.85 -7.62 14684

Lakson Tobacco 255.14 255 242.39 245.19 -9.95 105

Pak Tobacco 102.64 106 97.51 98.52 -4.12 1408

P.I.A.C.(A) 2.93 3 2.82 2.84 -0.09 61833

Pak Services 151.75 150 150 150 -1.75 3000

AKD Capital Limited 39.89 40 38.5 39.89 0 105

Pace (Pak) Ltd. 2.72 2.88 2.73 2.83 0.11 127574

Netsol Technologies 22.08 22.49 21.92 22.18 0.1 285527

Pak Telephone 1.16 1.79 1.6 1.6 0.44 602

Symbols Open High Low Close Change Vol

Thursday, March 17, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -34.67 points at 11,794.57. Volume

was 24 per cent below average and Bollinger Bands were 20 per

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

market will see major 1st resistance level at 11,911.70 and 2nd

resistance level at 12,028.85, while Index will continue to find its 1st

support level at 11,687.40 and 2nd support level at 11,580.25.

KSE 100 INDEX is currently 9.2 per cent above its 200-day mov-

ing average and is displaying an upward trend. Volatility is high

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

sions. Volume indicators reflect volume flowing into and out of

INDEX at a relatively equal pace. Trend forecasting oscillators

are currently bullish on INDEX.

RSI (14-day) 44.54 Support 1 11,687.40

MA (5-day) 11,968.05 Support 2 11,580.25

MA (10-day) 11,964.50 Resistance 1 11,911.70

MA (100-day) 11,690.76 Resistance 2 12,028.85

MA (200-day) 10,802.82 Pivot 11,804.55

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 0.43 at 39.00. Volume was 6 per cent above average and

Bollinger Bands were 36 per cent wider than normal.

FFBL is currently 19.6 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

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

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

Trend forecasting oscillators are currently bearish on FFBL.

*Arif Habib Ltd 37 Sell

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Positive

RSI (14-day) 39.29 MTS Shares 10.00

MA (10-day) 41.76 MTS Rs 293.03

MA (100-day) 37.36 MTS Rate 21.29

MA (200-day) 32.60 ** NOI Rs (mn) 46.50

Free Float Shares (mn)326.94 Free Float Rs (mn) 12,750.60

* 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 -35.83 at 193.88. Volume was 101 per cent above

average and Bollinger Bands were 149 per cent wider than normal.

ENGRO is currently 2.5 per cent above its 200-day moving average and is

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

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

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

casting oscillators are currently bullish on ENGRO.

*Arif Habib Ltd 224 Sell

AKD Securities Ltd 229.9 Neutral

TFD Research 245.4 Positive

RSI (14-day) 33.32 MTS Shares N/A

MA (10-day) 226.23 MTS Rs N/A

MA (100-day) 199.83 MTS Rate N/A

MA (200-day) 189.01 ** NOI Rs (mn) 210.58

Free Float Shares (mn)176.98 Free Float Rs (mn) 34,312.47

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed down -2.22 at 128.39. Volume was 66 per cent above average

and Bollinger Bands were 111 per cent wider than normal.

FFC is currently 10.3 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bearish on FFC.

*Arif Habib Ltd 131.3 Sell

AKD Securities Ltd 120.7 Reduce

TFD Research 129.4 Neutral

RSI (14-day) 45.49 MTS Shares 2,000

MA (10-day) 129.06 MTS Rs 194,400

MA (100-day) 126.47 MTS Rate 20.99

MA (200-day) 116.41 ** NOI Rs (mn) 77.29

Free Float Shares (mn)466.49 Free Float Rs (mn) 59,892.31

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

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed down -0.03 at 39.91. Volume was 82 per cent above aver-

age and Bollinger Bands were 32 per cent wider than normal.

HUBC is currently 12.2 per cent above its 200-day moving average and is

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

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

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

tors are currently bullish on HUBC.

*Arif Habib Ltd 50 Buy

AKD Securities Ltd 42.1 Accumulate

TFD Research 50.3 Positive

RSI (14-day) 59.67 MTS Shares N/A

MA (10-day) 39.71 MTS Rs N/A

MA (100-day) 37.17 MTS Rate N/A

MA (200-day) 35.58 ** NOI Rs (mn) 0.01

Free Float Shares (mn)810.01 Free Float Rs (mn) 32,327.42

* 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 0.17 at 78.22. Volume was 34 per cent below average and

Bollinger Bands were 122 per cent wider than normal.

NBP is currently 13.5 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on NBP.

*Arif Habib Ltd 85 Hold

AKD Securities Ltd 75.5 Reduce

TFD Research 92.3 Positive

RSI (14-day) 56.66 MTS Shares 29,001

MA (10-day) 79.03 MTS Rs 1,700,407

MA (100-day) 72.48 MTS Rate -

MA (200-day) 68.92 ** NOI Rs (mn) 141.08

Free Float Shares (mn)318.50 Free Float Rs (mn) 24,912.90

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed up 3.40 at 313.64. Volume was 7 per cent below average and

Bollinger Bands were 19 per cent wider than normal.

POL is currently 20.6 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on POL.

*Arif Habib Ltd 339 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 363.65 Positive

RSI (14-day) 49.76 MTS Shares 4,600

MA (10-day) 317.68 MTS Rs 1,069,466

MA (100-day) 293.90 MTS Rate 0.00

MA (200-day) 260.05 ** NOI Rs (mn) 258.69

Free Float Shares (mn)107.94 Free Float Rs (mn) 33,855.23

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 0.64 at 63.51. Volume was 63 per cent below average

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

NML is currently 17.6 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on NML.

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 49.42 MTS Shares 4,500

MA (10-day) 64.23 MTS Rs 213,806

MA (100-day) 61.44 MTS Rate 20.00

MA (200-day) 53.99 ** NOI Rs (mn) 67.92

Free Float Shares (mn)175.80 Free Float Rs (mn) 11,165.05

* 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

1,438.32 1,442.12 1,411.72 1,428.81 -9.51 -0.66

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

3,280,303 - - 29,771.58 mn 18,388.14 mn 1,463.47

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

18.58 0.41 2.21 104.74 8.76 1,428.81

1st Fid Leasing 264 - 1.60 1.65 1.40 1.42 -0.18 5397 2.34 1.16 - - - -

AL-Meezan Mutual F.SPOT 1375 4.03 10.00 10.00 9.90 10.00 0.00 4000 11.50 7.81 18.5 - 5.00 -

B R R Guardian Mod. 780 1.82 1.70 1.84 1.65 1.67 -0.03 9721 2.79 1.12 0 - - -

Equity Modaraba 524 1.07 1.74 2.00 1.75 1.75 0.01 503 2.98 1.30 - - - -

First Capital Mutual F. 300 5.25 2.50 3.47 2.10 2.10 -0.40 3001 5.10 1.95 - - - -

First Dawood Mutual F. 581 0.62 2.00 2.07 1.79 1.82 -0.18 41109 2.57 1.61 - - - -

Golden Arrow 760 1.48 3.20 3.22 3.18 3.22 0.02 8460 3.89 2.92 17 - - -

Habib Modaraba 1008 6.46 7.49 7.49 7.00 7.49 0.00 235 7.50 6.60 21 - - -

JS Growth Fund 3180 2.19 5.77 5.70 5.70 5.70 -0.07 2600000 6.43 4.61 5 - - -

JS Value Fund 1186 1.26 5.15 5.50 4.91 5.25 0.10 38563 6.61 4.20 10 - - -

Meezan Balanced Fund 1200 2.59 8.90 9.00 8.80 9.00 0.10 358500 10.24 7.20 15.5 - - -

NAMCO Balanced Fund 1000 1.92 4.39 4.30 4.15 4.15 -0.24 509 4.73 2.92 15 - - -

Nat Bank Modaraba 250 5.95 5.30 5.00 5.00 5.00 -0.30 500 7.58 4.85 10 - - -

Paramount Modaraba 59 6.09 9.38 9.48 9.25 9.38 0.00 101 9.90 8.21 18 - - -

PICIC Energy Fund XD 1000 2.94 7.10 7.11 7.10 7.11 0.01 6000 8.83 6.21 10 - 10.00 -

PICIC Growth Fund XD 2835 3.62 12.49 12.30 12.05 12.10 -0.39 178484 16.49 12.05 20 - 12.50 -

PICIC Inv Fund XD 2841 2.83 5.21 5.21 5.11 5.20 -0.01 13527 7.95 5.10 10 - 7.50 -

Prud Modaraba 1st 872 2.06 1.09 1.07 1.07 1.07 -0.02 1000 1.20 0.90 3 - - -

Punjab Modaraba 340 - 1.40 1.39 1.39 1.39 -0.01 3101 2.00 0.85 1 - - -

Stand Chart Modaraba 454 4.99 9.72 9.80 9.52 9.78 0.06 4060 10.63 9.01 17 - - -

U D L ModarabaSPOT 264 2.52 6.90 7.00 6.99 7.00 0.10 3355 7.25 5.90 12.5 - 7.50 -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

339.62 350.67 338.56 341.38 1.76 0.52

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

2,074,691 - - 30,336.44 mn 16,273.61 mn 352.66

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

11.50 0.22 0.91 99.56 4.02 339.62

AMZ Ventures 225 1.33 0.59 0.67 0.54 0.64 0.05 25366 0.93 0.33 - - - -

Arif Habib Investments 360 4.02 23.50 24.47 23.60 23.66 0.16 37102 24.86 16.80 - 20B - -

Arif Habib Limited 450 17.41 21.42 22.11 21.00 21.24 -0.18 22200 28.00 18.31 - 20B - -

Arif Habib Corp 3750 4.68 23.80 24.39 23.41 23.96 0.16 2883521 30.20 18.75 30 - - -

Dawood Cap Mangt. XB 150 1.06 1.30 1.49 1.10 1.10 -0.20 804 2.10 1.10 - - - -

Dawood Equities 250 520.00 1.61 1.71 1.56 1.56 -0.05 1001 2.75 1.06 - - - -

First Credit & Invest Bank Ltd 650 - 3.26 3.28 3.25 3.27 0.01 32550 4.00 2.15 - - - -

IGI Investment Bank 2121 9.14 2.00 2.10 2.00 2.01 0.01 3014 3.90 1.90 - - - -

Invest and Fin Sec 600 5.00 6.05 6.47 6.15 6.20 0.15 2499 8.98 5.65 11.5 - - -

Invest Bank 2849 - 0.50 0.60 0.45 0.50 0.00 415 1.09 0.31 - - - -

Ist Cap Securities 3166 - 3.10 3.24 3.05 3.07 -0.03 32737 3.84 2.90 - 10B - -

Ist Dawood Bank 626 0.80 1.52 1.60 1.50 1.52 0.00 2972 2.00 1.05 - - - -

Jah Siddiq Co 7633 - 8.94 9.18 8.95 9.03 0.09 1481247 12.80 8.01 10 - - -

JOV and CO 508 757.50 3.15 3.37 3.00 3.03 -0.12 161499 4.49 2.58 - - - -

JS Global Cap 500 6.75 24.27 25.44 23.06 23.50 -0.77 1908 31.50 20.80 - - - -

JS Investment 1000 - 5.44 5.67 5.45 5.56 0.12 55807 7.40 5.10 - - - -

KASB Securities 1000 - 4.50 4.60 4.45 4.54 0.04 2200 5.43 3.75 - - - -

Orix Leasing 821 3.97 5.72 6.24 5.90 5.72 0.00 370 7.09 5.25 - - - -

Pervez Ahmed Sec 775 4.25 1.96 2.12 2.03 2.04 0.08 243362 2.49 1.21 - - - -

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

733.00 757.67 715.04 751.67 18.68 2.55

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

16,385 - - 2,290.72 mn 8,855.27 mn 751.67

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

5.42 3.20 3.85 355.53 4.27 733.00

East West Life 500 - 2.00 1.98 1.62 1.62 -0.38 2501 3.84 1.52 - 20R - -

EFU Life Assurance 850 34.51 57.99 60.88 56.00 60.74 2.75 12560 79.80 51.31 - - - -

New Jub Life InsuranceSPOT62719.49 45.94 46.00 45.50 45.61 -0.33 1302 49.31 39.05 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

1,111.84 1,130.07 1,090.19 1,103.19 -8.65 -0.78

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

12,153,118 - - 257,548.02 mn 665,693.29 mn 1,144.42

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

7.64 1.07 13.94 40.49 5.30 1,103.19

Allied Bank Ltd.XDXB 8603 5.47 58.30 59.98 57.10 58.00 -0.30 44177 74.00 57.10 40 10B - -

Askari BankSPOT 6427 6.58 13.80 14.00 13.62 13.81 0.01 174741 19.25 12.55 - 10B - -

Bank Alfalah 13492 6.86 9.40 9.48 9.11 9.26 -0.14 345247 11.99 8.75 - - - -

Bank AL-HabibXDXB 8786 5.54 27.03 27.50 27.00 27.25 0.22 46545 39.49 26.95 20 20B - -

Bank Of Khyber 5004 3.73 4.24 4.25 4.16 4.21 -0.03 19382 4.65 3.75 - - - -

Bank Of Punjab 5288 - 6.92 7.29 6.85 6.98 0.06 3591604 10.23 6.40 - - - -

BankIslami Pak 5280 39.11 3.54 3.65 3.48 3.52 -0.02 173203 4.50 3.06 - - - -

Faysal Bank 7327 4.15 12.94 13.49 12.80 12.86 -0.08 76634 16.47 10.69 - 20B - -

Habib Bank LtdXDXB 11021 6.66 107.08 108.50 105.50 106.63 -0.45 36071 131.00 105.50 65 10B - -

Habib Metropolitan Bank 8732 7.03 23.04 23.40 22.80 23.00 -0.04 32590 29.28 22.50 - 20B - -

JS Bank Ltd 8150 - 2.70 2.77 2.58 2.61 -0.09 183930 3.16 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.48 1.50 1.42 1.50 0.02 34303 2.70 1.40 - - - -

MCB Bank LtdSPOT 7602 9.75 219.61 223.99 213.62 216.48 -3.13 871181 250.48 195.55 85 10B - -

Meezan BankSPOT 6983 8.32 19.01 19.70 19.01 19.63 0.62 35357 20.30 15.30 - 15B - -

Mybank Ltd 5304 - 2.05 2.18 2.01 2.05 0.00 26513 3.40 2.00 - - - -

National BankSPOT 13455 6.83 78.05 78.70 77.65 78.22 0.17 3010482 81.78 66.01 75 25B - -

NIB Bank 40437 - 2.10 2.10 2.00 2.02 -0.08 1936623 3.35 1.90 -154.79R - -

Samba Bank 14335 - 1.75 1.75 1.69 1.73 -0.02 504698 2.12 1.50 -63.46R - -

Silkbank Ltd 26716 - 2.15 2.27 2.14 2.19 0.04 230169 3.05 2.06 - - - -

Soneri Bank 6023 29.52 6.30 6.39 6.10 6.20 -0.10 7798 8.48 5.00 - - - -

Stand Chart BankSPOT 38716 9.47 9.09 9.06 9.00 9.00 -0.09 54138 9.90 6.28 6 - - -

Summit Bank Ltd 7251 - 2.98 3.09 2.85 2.99 0.01 80845 4.63 2.85 - - - -

United Bank Ltd XD 12242 6.73 57.90 58.25 56.70 57.30 -0.60 717732 70.65 56.70 50 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

753.11 767.68 744.42 760.71 7.60 1.01

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

1,217,367 - - 11,111.34 mn 47,964.01 mn 770.45

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

12.76 0.66 5.20 79.54 6.23 753.11

Adamjee Insurance 1237 23.20 78.52 80.30 78.19 80.04 1.52 144754 96.40 71.55 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,420.76 1,431.73 1,397.17 1,403.19 -17.57 -1.24

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

194,297 - - 12,202.80 mn 31,383.22 mn 1,469.37

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

9.16 1.04 11.41 66.79 7.29 1,403.19

Sui North Gas 5491 11.75 20.00 20.45 19.90 19.98 -0.02 76876 29.39 19.71 20 - - -Sui South Gas 8390 3.66 24.87 24.76 24.22 24.33 -0.54 117421 27.90 20.02 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,346.04 1,353.79 1,323.88 1,343.83 -2.21 -0.16

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

6,731,193 - - 95,369.29 mn 106,389.89 mn 1,346.04

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

13.96 1.31 9.35 104.13 7.46 1,334.16

Genertech 198 - 0.70 0.70 0.65 0.65 -0.05 1007 1.17 0.56 - - - -Hub PowerSPOT 11572 7.31 39.94 40.00 39.25 39.91 -0.03 3418930 41.20 35.90 50 - 25.00 -Japan Power 1560 - 1.42 1.44 1.36 1.36 -0.06 66716 2.00 1.25 - - - -KESC 7932 - 2.67 2.75 2.60 2.65 -0.02 614525 3.55 2.31 - 7.8R - -Kohinoor Energy 1695 7.35 16.86 17.20 16.85 16.90 0.04 675 22.85 16.00 15 - 10.00 -Kohinoor Power 126 2.81 3.80 3.74 3.60 3.60 -0.20 3274 5.38 3.30 - - - -Kot Addu Power XD 8803 5.20 40.82 41.14 40.26 40.54 -0.28 172026 45.85 39.80 50 - 30.00 -Nishat Chunian Power Ltd 3673 3.11 15.35 15.75 15.40 15.50 0.15 1065003 18.01 14.05 - - - -Nishat Power Ltd 3541 2.43 16.62 16.80 16.00 16.62 0.00 1339285 18.70 14.85 - - - -S G Power 178 - 0.80 0.61 0.60 0.60 -0.20 1550 2.10 0.43 - - - -Southern Electric 1367 - 1.74 1.76 1.70 1.74 0.00 48201 2.39 1.41 - - - -

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,025.67 1,038.88 1,015.91 1,020.19 -5.48 -0.53

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

919,175 - - 50,077.79 mn 70,683.33 mn 1,054.08

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

5.59 0.72 12.84 62.56 11.19 1,020.19

Pak DatacomSPOT 78 5.12 45.75 47.40 46.75 47.10 1.35 523 82.39 45.50 80 - 15.00 -Pakistan Telecomm Co A 37740 11.65 17.56 17.75 17.42 17.48 -0.08 260863 20.65 17.25 17.5 - - -Telecard 3000 1.28 1.96 2.00 1.91 1.94 -0.02 324408 2.48 1.60 1 - - -WorldCall Tele 8606 - 2.37 2.45 2.30 2.32 -0.05 333381 3.11 2.15 - - - -Wateen Telecom Ltd 6175 - 2.88 3.00 2.85 2.86 -0.02 37292 4.65 2.80 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 255 4.67 11.40 11.70 10.70 10.87 -0.53 1899 12.00 9.51 -10B 25R - -

Atlas Insurance 369 6.02 39.59 40.00 39.15 39.53 -0.06 3971 42.90 35.47 - 20B - -

Central Insurance XB 279 9.88 88.13 89.93 86.55 86.92 -1.21 808 89.93 60.00 10 10B - -

Century Insurance 457 6.25 9.97 10.22 9.95 10.00 0.03 27325 11.99 8.90 - - - -

EFU General Insurance 1250 - 35.63 36.75 35.00 36.54 0.91 41723 45.40 32.25 - - - -

Habib Insurance 400 3.08 13.07 13.39 12.75 12.92 -0.15 731 15.50 11.72 - - - -

IGI Insurance 718 8.33 97.36 97.98 96.78 97.00 -0.36 4877 102.44 88.11 30 55B - -

New Jub Insurance 791 11.25 63.96 64.25 62.06 64.01 0.05 10833 64.25 56.00 35 25B - -

Pak Reinsurance 3000 45.31 17.70 17.98 17.26 17.67 -0.03 948323 19.40 13.80 - - - -

PICIC Ins Ltd 350 85.36 11.47 11.99 11.20 11.95 0.48 21303 13.00 6.30 - - - -

Premier Insurance 303 6.42 11.13 11.87 11.64 11.87 0.74 1003 12.93 10.10 - - - -

Reliance Insurance XB 252 4.41 7.50 7.30 7.19 7.19 -0.31 899 7.50 6.20 - - - -

Silver Star Insurance 253 4.28 6.56 6.90 6.60 6.89 0.33 8751 8.20 6.01 - - - -

UPTO 100 VOLUME

FANM 3.25 3.30 3.30 3.25 0.00 100

SPLC 0.94 0.61 0.61 0.94 0.00 100

SHNI 9.16 9.90 9.90 9.16 0.00 100

QUET 50.45 48.00 47.93 50.45 0.00 100

BWCL 11.66 12.50 12.50 11.66 0.00 100

ZIL 65.30 65.25 65.25 65.30 0.00 78

ELSM 26.05 26.90 25.60 26.05 0.00 77

FNEL 4.95 4.90 4.90 4.95 0.00 75

SAZEW 23.10 22.85 22.50 23.10 0.00 64

UNIC 7.53 7.75 7.74 7.53 0.00 61

CSM 0.58 0.58 0.52 0.58 0.00 59

SHFA 30.67 31.50 31.50 30.67 0.00 55

JKSM 6.99 6.95 6.95 6.99 0.00 50

FECS 36.91 35.08 35.08 36.91 0.00 50

GRAYS 45.96 44.60 44.60 45.96 0.00 50

PECO 139.85 133.19 132.95 139.85 0.00 40

JDWS 75.00 74.00 74.00 75.00 0.00 32

MFFL 69.00 71.80 71.80 69.00 0.00 28

ULEVER 4924.31 5100.00 4850.00 4956.75 32.44 26

NSRM 16.00 17.00 17.00 16.00 0.00 25

UPFL 1130.01 1178.00 1078.02 1126.14 -3.87 24

ALICO 15.02 15.49 15.49 15.02 0.00 22

SGLL 25.86 26.99 24.66 25.86 0.00 15

ADOS 9.75 10.44 10.39 9.75 0.00 14

SCLL 2.45 2.89 2.87 2.45 0.00 12

AWTX 90.00 94.50 94.50 90.00 0.00 10

DFSM 4.20 4.20 4.20 4.20 0.00 10

GATM 43.00 44.70 42.58 43.00 0.00 10

WAHN 37.15 37.20 37.20 37.15 0.00 10

BWHL 35.59 33.82 33.82 35.59 0.00 8

PHDL 31.89 32.00 32.00 31.89 0.00 8

STCL 7.54 8.00 7.90 7.54 0.00 6

FCONM 1.30 1.47 1.46 1.30 0.00 5

FECM 2.75 3.00 3.00 2.75 0.00 5

MODAM 1.15 1.44 1.44 1.15 0.00 5

JOPP 10.55 10.00 10.00 10.55 0.00 5

EMCO 1.91 2.30 2.30 1.91 0.00 5

PKGI 6.70 7.60 6.20 6.70 0.00 4

IBFL 47.06 48.85 45.21 47.06 0.00 4

FEROZ 88.38 90.46 90.46 88.38 0.00 3

COLG 808.99 844.45 788.45 808.99 0.00 3

PAKMI 0.85 1.05 1.05 0.85 0.00 2

CSIL 4.24 4.16 4.16 4.24 0.00 2

FZTM 409.93 389.44 389.44 409.93 0.00 2

TSML 42.00 40.01 40.01 42.00 0.00 2

DWAE 0.80 1.24 1.01 0.80 0.00 2

BIFO 46.48 48.30 48.30 46.48 0.00 2

ATFF 6.48 6.49 6.49 6.48 0.00 1

GRYL 3.01 2.17 2.17 3.01 0.00 1

SMBLR 0.01 0.01 0.01 0.01 0.00 1

CWSM 1.00 1.50 1.50 1.00 0.00 1

YOUW 1.24 1.80 1.80 1.24 0.00 1

TOWL 8.08 9.00 9.00 8.08 0.00 1

CSUML 3.57 2.71 2.71 3.57 0.00 1

KOHS 3.40 2.52 2.52 3.40 0.00 1

PNGRS 4.08 4.38 4.38 4.08 0.00 1

GWLC 6.21 6.10 6.10 6.21 0.00 1

SMCPL 5.21 5.83 5.83 5.21 0.00 1

TSPL 0.63 0.75 0.75 0.63 0.00 1

ATEL 36.53 38.35 38.35 36.53 0.00 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

NCL-MAR 28.40 28.50 27.10 27.87 -0.53 2,486,000

ENGRO-MAR 191.36 195.35 189.80 194.46 3.10 2,370,500

DGKC-MAR 23.67 23.90 23.40 23.55 -0.12 1,466,500

FFBL-MAR 38.67 39.50 37.99 39.14 0.47 1,198,500

POL-MAR 311.41 316.50 310.81 314.80 3.39 960,500

NBP-MARB 57.31 57.76 56.80 57.49 0.18 479,500

FFC-MAR 130.77 131.98 126.50 128.99 -1.78 474,000

LUCK-MAR 67.08 67.00 66.30 66.89 -0.19 421,000

MCB-MAR 198.25 202.00 192.61 195.10 -3.15 296,500

ANL-MAR 9.06 9.14 8.97 9.02 -0.04 258,500

NML-MAR 63.22 64.00 62.60 63.71 0.49 213,000

PSO-MAR 277.96 281.50 276.50 280.05 2.09 68,000

PPL-MAR 206.82 214.00 205.30 208.08 1.26 60,500

BOP-MAR 6.96 7.27 6.90 7.00 0.04 41,000

AICL-MAR 78.85 80.73 78.26 80.43 1.58 22,500

PTC-MAR 17.72 17.61 17.43 17.43 -0.29 20,500

NETSOL-MAR 22.26 22.00 22.00 22.00 -0.26 15,000

OGDC-MAR 148.61 148.50 146.26 146.54 -2.07 15,000

HUBC-MARB 37.67 37.67 37.67 37.67 0.00 15,000

UBL-MARB 58.28 57.90 57.00 57.90 -0.38 3,000

AICL-CMAR 78.93 0.00 0.00 80.42 1.49 -

AKBL-CMAR 13.87 0.00 0.00 13.88 0.01 -

ANL-CMAR 9.09 0.00 0.00 9.01 -0.08 -

ATRL-CMAR 117.17 0.00 0.00 122.91 5.74 -

BAFL-CMAR 9.45 0.00 0.00 9.30 -0.15 -

BAHL-CMAR 27.17 0.00 0.00 27.38 0.21 -

ENGRO-CMAR230.91 0.00 0.00 194.80 -36.11 -

FFBL-CMAR 38.77 0.00 0.00 39.19 0.42 -

FFC-CMAR 131.29 0.00 0.00 129.00 -2.29 -

HUBC-CMAR 40.15 0.00 0.00 40.10 -0.05 -

KAPCO-CMAR41.03 0.00 0.00 40.73 -0.30 -

Symbols Open High Low Close Change Vol

ZERO VOLUME

LPGL 16.44 15.44 15.44 15.44 -1.00 -

RMPL 2793.89 2792.66 2792.66 2792.66 -1.23 -

Symbols Open High Low Close Change Vol

Adamjee Insurance 45.16 78.70 77.40 80.85 81.60 79.50

Al-Abbas Cement 40.73 2.40 2.30 2.65 2.80 2.55

Allied Bank Limited 29.52 56.75 55.50 59.60 61.25 58.35

Arif Habib Corp 56.63 23.45 22.95 24.45 24.90 23.90

Arif Habib Limited 44.06 20.80 20.35 21.90 22.55 21.45

Askari Bank 35.54 13.60 13.45 14.00 14.20 13.80

Attock Cement 36.43 49.45 48.95 50.25 50.55 49.75

Attock Petroleum 43.53 340.65 332.75 354.05 359.50 346.10

Attock Refinery 56.85 118.65 114.95 124.20 126.05 120.50

Azgard Nine 41.12 8.85 8.75 9.15 9.30 9.05

Bank Al-Falah 35.90 9.10 8.90 9.45 9.65 9.30

Bank.Of.Punjab 37.96 6.80 6.60 7.25 7.50 7.05

BankIslami Pak 47.45 3.45 3.40 3.60 3.70 3.55

D.G.K.Cement 38.45 23.65 23.30 24.50 25.00 24.15

Dewan Cement 42.94 1.65 1.60 1.90 2.05 1.80

Dewan Salman 44.61 2.60 2.55 2.75 2.85 2.70

Dost Steels Ltd 38.63 1.95 1.90 2.15 2.25 2.05

EFU General Insurance 46.56 35.45 34.35 37.20 37.85 36.10

EFU Life Assurance 54.26 57.55 54.35 62.40 64.10 59.20

Engro Chemical 33.44 190.25 186.65 196.25 198.65 192.65

Fauji Cement 38.09 4.15 4.10 4.25 4.35 4.20

Fauji Fert Bin 39.45 38.10 37.20 39.70 40.35 38.75

Fauji Fertilizer 45.61 125.35 122.35 131.65 134.95 128.65

Faysal Bank 44.60 12.60 12.35 13.30 13.75 13.05

Habib Bank Ltd 28.07 105.25 103.90 108.25 109.90 106.90

Hub Power 59.40 39.45 38.95 40.20 40.45 39.70

ICI Pakistan 69.69 163.50 159.50 170.65 173.80 166.65

Indus Motors 17.84 213.30 210.15 221.30 226.15 218.15

J.O.V.and CO 38.76 2.90 2.75 3.25 3.50 3.15

Jah Siddiq Co 44.21 8.90 8.80 9.15 9.30 9.05

Japan Power 40.21 1.30 1.25 1.40 1.45 1.35

JS Bank Ltd 43.04 2.55 2.45 2.70 2.85 2.65

K.E.S.C 47.32 2.60 2.50 2.75 2.80 2.65

Kot Addu Power 35.19 40.15 39.75 41.05 41.55 40.65

Lotte Pakistan 51.40 15.45 15.25 15.95 16.20 15.70

Lucky Cement 46.13 65.45 64.25 67.55 68.50 66.40

Maple Leaf Cement 48.03 2.25 2.20 2.40 2.45 2.30

MCB Bank Ltd 46.49 212.05 207.65 222.45 228.40 218.05

National Bank 56.57 77.70 77.15 78.75 79.25 78.20

Netsol Technologies 45.60 21.90 21.65 22.50 22.75 22.20

NIB Bank 29.32 2.00 1.95 2.10 2.15 2.05

Nimir Ind.Chemical 61.23 2.85 2.75 3.15 3.30 3.05

Nishat (Chunian) 61.51 27.10 26.20 28.70 29.40 27.80

Nishat Mills 49.37 62.60 61.70 64.15 64.80 63.25

Oil & Gas Dev. XD 30.73 145.45 144.00 149.20 151.50 147.75

P.I.A.C.(A) 56.97 2.80 2.70 2.95 3.05 2.90

P.S.O. XD 45.52 276.10 273.05 282.10 285.05 279.05

P.T.C.L.A 36.25 17.35 17.20 17.70 17.90 17.55

PACE (Pakistan) Ltd. 49.27 2.75 2.65 2.90 2.95 2.80

Pak Oilfields 49.75 310.30 306.90 316.30 319.00 312.95

Pak Petroleum 49.79 206.20 204.45 209.60 211.25 207.85

Pak Suzuki 48.10 61.35 59.65 64.35 65.75 62.70

Pervez Ahmed Sec 53.77 2.00 1.95 2.10 2.15 2.05

Pioneer Cement 48.38 5.90 5.85 6.10 6.20 6.05

Shell Pakistan 47.36 202.10 200.30 205.75 207.65 203.95

Sitara Peroxide 71.28 16.35 15.75 18.00 19.05 17.40

Sui North Gas 27.76 19.75 19.55 20.30 20.65 20.10

Sui South Gas 47.15 24.10 23.90 24.65 25.00 24.45

Telecard 42.79 1.90 1.85 2.00 2.05 1.95

TRG Pakistan 49.23 3.05 3.00 3.20 3.30 3.15

United Bank Ltd 32.15 56.60 55.85 58.15 58.95 57.40

WorldCall Tele 37.88 2.25 2.20 2.40 2.50 2.35

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Century Insurance Company Ltd 18-Mar 10:30

Security Investment 18-Mar 4:30

The Universal Insurance Co Ltd 19-Mar 11:30

Lakson Tobacco Pak Ltd 21-Mar 11:00

Pak Gum & Chemicals Ltd 21-Mar 11:00

Ksb Pumps Company Ltd 21-Mar 11:30

Karim Silk Mills Ltd 21-Mar 11:30

Pak International Airlines 26-Mar 10:00

BOARD MEETINGS

Company Date Time

Thursday, March 17, 2011 8

MEXICO CITY: Mexicana airline's pilots and other workers stagea protest at the Terminal 2 of the international airport.-Reuters

ISLAMABAD: Revenue gen-eration through Pakistan's richtourism sector continues toregister downward trend.It is mainly because of inade-quate facilities to the touristsand shabby infrastructure atfabulous destinations.

The tourism industry hasnever been able to cross $200million despite the factPakistan is blessed with someof the fascinating attractions, itwas officially learnt onWednesday.

The Ministry of Tourismattributes the plunge in tradeand travel activities to weaken-ing law and order, 2010 floodsand 2005 earthquake that badlyhit tourism infrastructure in thecountry's north and AJK.

"Our hotels and motels attourist resorts had been razedto rubble in these disasters thatalso devastated roads, bridgesand other basic infrastructure,"said an official of the Ministryof Tourism.

However, experts dealing intourism sector think other wayround. They said negativetrends in tourism industrycould have been coped withprovided prudent policies werein place.

"Our tourism suffered from

man-made disasters, not natu-ral ones because we havenever taken this crucial sectorseriously," Najib Khan, VicePresident of Pakistan PrivateTour Operators Association.

Revenue generation throughtourism alone can earn a greatdeal of revenues and lessenthe economic woes of thecountry to great extent, saidNajib, who also runsHimalayan Holiday, anIslamabad-based travelagency.

He cited examples ofMalaysia, Singapore,Tanzania, Mauritius and otherAfrican countries that gener-ate billions of dollars throughtourism.

In Malaysia, tourism is thesecond largest revenue genera-tion sector after manufacturing.

He said that it would be ahard target for the governmentto overcome the challengesconfronting the tourism indus-try until it involved the privatesector. Najib Khan assured allout cooperation to the govern-ment in its endeavours to pro-mote tourism.

He, however, suggested theMinistry of Tourism to intro-duce the packages like travelagencies to attract tourists.-APP

Revisittourismpolicies,

sector says

VirginAtlantic

to add 450new staffers

LONDON: British airlineVirgin Atlantic announcedFriday the creation of 450 jobs,including 50 new pilots, as theaviation industry steps up itsrecovery.

Virgin said the spring launchof a new route betweenManchester and Las Vegas,extra London departures to theCaribbean and Ghana and anew fleet of Airbus A330 air-craft would also create 350cabin crew roles.

Virgin, 51- per cent owned byBritish tycoon Richard Bransonand 49- per cent by SingaporeAirlines, said the remaining 50positions would be for airportand head office roles.

"We have enjoyed a goodyear of recovery and can nowlook forward to expanding ournetwork and welcoming a newfleet of aircraft," VirginAtlantic's director of opera-tions, safety and security,Corneel Koster, said in a com-pany statement.-Agencies

Airportsecurity

beefed upISLAMABAD: The AirportSecurity Force (ASF) in a bidto tighten security and unau-thorised entry into the air-ports has decided to ensurethat all passengers hold hardcopies of their valid air tick-ets at the gate.

Talking to APP, an officialof the ministry of theDefence said the securitymeasures at the airports hasbeen beefed up for which theentry of passengers, staff andthe vehicles are being proper-ly scrutinised to pre-emptany possible act of terrorism.He said due to prevailingthreats to aviation industry,the selective search of carsand surveillance of car parkshas been initiated.

Besides the valid tickets,the passengers are alsorequired to produce photoidentity while the functionar-ies are permitted on validAirport entry passes only, heinformed.

He said the ASF staff hasalso been deployed on theaircraft to ensure that onlybonafide passengers and staffof the concerned airlinecould enter into the aircraft.

Replying to another ques-tion the official said armedASF personnel with longrange guns are deployed onthe rooftop of terminal build-ing to foil any attempt of ter-rorism.

ASF has installed theR a d i o - F r e q u e n c yIdentification (RFID)basedautomatic Access ControlSystem at Karachi, Lahore,Islamabad and Peshawar air-ports for effective entry con-trol and installation of suchgadgetry at Quetta, Multanand Faisalabad is under con-sideration, he said.-APP

Etihad Air’sValentine'sOffer finallycomes to end

ISLAMABAD: EtihadAirways, the national airlineof the United Arab Emirates,has concluded a special"Valentine's Offer" promotionin conjunction with ButlersChocolate Café, Karachi.

The competition, whichcommenced on February 7and ran throughout themonth, was open to all choco-late lovers who made a pur-chase at the ButlersChocolate Café in Zamzama.The competition winners,announced this morning at aspecial event at the cafe,received two return tickets inEtihad's award-winning CoralEconomy class from Karachito Abu Dhabi.

Etihad Airways and ButlersChocolate Café said theresponse to the promotionwas overwhelmingly posi-tive.

Amer Khan, EtihadAirways' Country Manager inPakistan, said: "Abu Dhabi,with its luxury accommoda-tion and dining options, richcultural heritage and increas-ingly popular tourist attrac-tions, is a perfect destinationfor couples wanting to expe-rience a romantic getaway.

"At Etihad, we constantlylook for innovative ways toraise awareness of Abu Dhabiand our services in Pakistan,and partnering with ButlersChocolate Café on this spe-cial Valentine's Day promo-tion was a unique way for usto achieve this."-Agencies

H o w m a s s e s g r e w w i n g s ?HONG KONG: A decade ago,even some of Asia's wealthierpeople could face a long bumpyride on a bus to visit family ortake a break on the beach - fly-ing was simply too expensive.

Not any more. The prolifera-tion of low cost airlines acrossthe region, particularly inSoutheast Asia, has opened upair travel to the masses.

Malaysia-based AirAsia,which launched in 2001, wasone of the first airlines to ripopen Asia's skies to the generalpublic.

"Suddenly, people who hadnever been on planes - peoplewho lived in villages and usedto go on a 12-hour bus ride tosee relatives - suddenly theywere flying," says planemakerAirbus's Asia communicationsdirector Sean Lee.

"If the same thing happens in

China, India and Indonesia,with their massive populations,imagine - the potential is huge."

So huge, in fact, that Airbuspredicts that a third of all newplanes will be sold into theregion over the next 20 years -8560 aircraft worth a cool $1.2trillion.

The company has a backlogof over a thousand aircraftwaiting to be delivered to theregion. And of those, AirAsiahas 175 firm orders for A320s,with a further 50 on option.

The airline continues toexpand with the opening ofthree hubs in Kuching in theeast Malaysian state ofSarawak, Chiang Mai in north-ern Thailand and Medan inIndonesia.

It is also launching operationsin the Philippines later thisyear.

"For 2011, our plan is to fur-ther expand our route networkand key routes," AirAsia's chiefexecutive Tony Fernandes toldAFP.

"We also plan to be moreaggressive in penetrating theIndian market and furtherexpansion in China."

Cebu Pacific, the Philippines'already long-established lowcost carrier, plans to invest abillion dollars in 21 new Airbusaircraft and hire 2000 morestaff over the next four years toboost its international opera-tions.

Singapore's low cost carrierTiger Airways, meanwhile, willtake delivery of 26 aircraft bythe end of March 2011, thecompany said.

India haseight budget air-lines, which have gained nearlyhalf of the market share in the

country's rapidly growing avia-tion sector.

IndiGo, launched in 2006, isthe country's youngest airlinebut has already become thethird largest, flying 8.4 millionpassengers in 2010, a 16.5 percent share in domestic air traf-fic.

The airline announced a dealfor 180 A320s, the largest num-ber of Airbus planes everbought in a single order, at theParis air show this year.

IndiGo currently operatesonly domestic flights but hasambitious targets for 2011,planning to start flying interna-tionally in August after recentlygetting government clearance.

Large-scale models of theAirbus suite of aircraft were ondisplay at the Asian AerospaceExpo in Hong Kong, alongsiderival Boeing and the Chinese

upstart COMAC, which has itsown aircraft on the drawingboard if not yet in the sky.

All will be competing for aslice of this massive marketwhich will soon overtake bothEurope and North America.

Airbus predicts a need for5200 new airliners in the sin-gle-aisle 100 to 210 seat cate-gory, such as the A320 family.Of these, around a third will goto low cost airlines.

The increase will be drivenprimarily by the growth of lowcost carriers, as well as theopening of new secondary shorthaul routes, especially inChina, India and SoutheastAsia.

Airbus expects the number ofpassengers carried by Asia-Pacific airlines to rise by 5.8per cent per year, compared toglobal average increases of 4.8

per cent."Asia has traditionally been a

wide-bodied aircraft market,"Airbus spokesman Sean Leetold AFP. "But the single aislemarket is growing substantial-ly, largely thanks to the lowcost carrier sector.

"If you look back to 2001there were basically no(Airbus) aircraft flying withlow cost airlines in this region.It's expected to be 20 per centby the end of this decade - thegrowth has been really fast."

There are currently just over300 Airbus aircraft in servicewith Asia-Pacific budget air-lines, most of which are A320s- 18 per cent of the current in-service Airbus fleet in theregion.

There is also a backlog ofaround 370 aircraft on order forfuture delivery to budget carri-

ers in the region.Greater liberalisation "open

skies" policies, especiallyamongst the ASEAN blockcountries, is also expected toboost air travel in the region,Airbus say.

But it might not all be brightskies and sunshine.

Standard and Poor's EquityResearch aviation analystShukor Yusof says low cost car-riers are likely to gain a biggermarket share in the near to mid-term, as much as 20 per cent, asdemand for leisure and discre-tionary travel grows and percapita income improves.

"That said, we anticipate tur-bulence in the energy marketsto impact low cost carriers themost, given their businessmodel and limited ability to off-set the higher fuel costs," hetold AFP.-APP

ISLAMABAD: Ministry ofTourism and Pakistan TourismDevelopment Corporation(PTDC) have been asked toinvolve the private sector andmake concerted efforts torevive the tourism industry inSwat.

Revival of tourism in SwatValley needs government'sattention, Muhammad UsmanAdvocate, Chairman NationalAssembly StandingCommittee on Tourism saidduring a meeting.

Secretary Tourism ShahidRashid briefed the meetingthat Pakistan Austria Instituteof Tourism & Hotel andTourism Management(PAITHOM) established bythe support of Government ofAustria at Gulibagh, Swat suf-fered partial damaged during

militancy.The Institute is currently in

possession of security forces,the secretary said and added anumber of requests has beensent to the Ministry of Defenceand Interior in this regard.

He requested the Committeeto provide support for vacationof PAITHOM and PTDCMotel at Kalam. TheCommittee supported theTourism Ministry for vacationof its properties in the SwatValley.

Zafarullah Siddiqui,Economic Analyst told thatover 1300 students have so farbeen trained at PAITHOM inTourism and HotelManagement.

If the training programme iscontinued, it will be beneficialfor the Hotel industry of Swat

and will create job opportuni-ties for local youth, heinformed.

Sareer Mohammad Khan,Managing Director PTDCbriefed that besides its motelsin Gilgit, Skardu and Chitral,PTDC has developed a num-ber of Motels in the area thatinclude: Astak, Rama Lake,Khaplu, Satpara Lake, Gupis,Phandhar, Mastuj and Booni.

He told that as per instruc-tions of the Committee, tokenmoney of land at Masehra hasbeen recovered.

Iftikhar Hussain Satti,General Manager (Hotels)PTDC informed that followingthe recommendations of theNA Standing Committee onTourism, PTDC has got itsMotel at Khuzdar vacatedfrom the contractor.-APP

Call to court privatepartners in touristry

FRANKFURT: Airlines racedon Wednesday to clear Tokyo'sairports of a backlog of passen-gers and help those wanting toleave as fears grew that quake-stricken Japan was losing con-trol of a steadily growingnuclear crisis.

The disaster has transformedparts of Tokyo into a ghosttown as people either stayindoors or leave.

France and Austria urgedtheir citizens in Tokyo to leavethe country or head to southernJapan.

The French embassy inTokyo said it had asked AirFrance to mobilise planes forthe evacuation of Frenchnationals from Japan, and twowere already on their way.

The Association of AsiaPacific Airlines, which repre-sents 17 scheduled internation-al airlines in the region, saiddomestic flights and air cargoservices were now operating

normally.Germany's Lufthansa, how-

ever, said it was still divertingplanes to Osaka and Nagoya.

Dutch airline KLM also saidit was diverting to Osaka,instead of Tokyo, on flights toJapan on Wednesday, but that itwould still fly out of TokyoNarita to Amsterdam. Privatejet companies also said theywere being inundated withrequests for evacuation flights.

"It is now ramping up overlast night because of the deteri-orating situation. More peopleare worrying and looking toevacuate from Tokyo," Asia JetChief Executive Mike Walshtold Reuters.

"We are dealing with over1,000 people wanting to evacu-ate from Tokyo this morning."

An aviation industry officialin Asia said there had been asharp drop in demand to Japancoupled with a rush to leave.-Reuters

Japan fleers’flying galore

ISLAMABAD: The number oftourists both domestic and for-eign visiting Gilgit-Baltistan(GB), which currently stands atmere 8000 annually, couldincrease manifold even up to50,000 provided effective poli-cies are formulated to promotetourism industry.

Tourist arrival on such a megascale would generate huge rev-enues that could be used forimproving infrastructure andother developmental schemes inGB.

Besides, increased tourists'flow would also create immensejob opportunities in the regionas has been witnessed in coun-

tries like Malaysia, Tanzaniaand Philippines etc.

This came to fore in a meetingof the Ministry of KashmirAffairs & Gilgit-Baltistan,presided over by Minister forKashmir Affairs and GB MianManzoor Ahmed Wattoo.

The meeting was briefed onthe state of tourism, electricity,minerals and forests in GB.

The meeting suggested thatSkardu Airport be made anInternational Airport so thedomestic and internationaltourists could directly land inthe region which is full of natu-ral attractions.

The Minister directed the offi-

cials to take on board all stake-holders regarding promotion oftourism in the area.

He said Mineral Policy wouldbe devised to make use of richnatural resource for the benefitof the local people.

Besides, the Minister calledfor formulating setting up ofForest Protection Force whichwould also be established.

The Minister was told that thehydel power potential in GB is40,000MW that needs to beexploited.

Wattoo directed the officialsthat Hydel power Board shouldbe made in the GB Council.-APP

Minister demandsa ‘touristicious’ GB

LONDON: Gold rose onWednesday as investors tookadvantage of the previous day's2 per cent price drop to buy themetal and as the extreme riskaversion that prompted a flightto liquidity on Tuesday eased.

Spot gold was last up 0.7 percent at $1,403.85 an ounce at1435 GMT, while US goldfutures for April delivery rose0.8 per cent to $1,403.80.

Prices fell 2.3 per cent onTuesday in their biggest one-day drop since January. Theyhave since steadiedas markets awaitnews from Japan,where experts areworking to avert ameltdown at anuclear powerplant.

"Now that thedust has settled a little bit andthat we've had particularly arecovery in energy and othercommodities, that's given atailwind to gold," said HSBCanalyst James Steel.

"If the focus ceases to beentirely on Japan, and theMiddle East again gets someheadlines, then the geopoliticalrisk levels will come back inand support gold," he said.

Other traditional safe-havenassets also rallied, with theSwiss franc hitting a recordhigh against the dollar andbenchmark US Treasury yieldstouching their lowest in threemonths after housing datahighlighted the fragility of the

US economic recovery. Unrest that swept the Middle

East and North Africa earlierthis year, a key factor pushinggold to a record $1,444.40 anounce last week, continues tosimmer.

The Libyan army closed inon the opposition bastion ofBenghazi on Wednesday, whilein Bahrain forces fired tear gasin a crackdown on protesters.

"Gold may recover and sta-bilise, but there could be moredownward pressure," said

Quantitative CommodityResearch consultant PeterFertig. "It all depends on howtactical people are in managingthe situation at the Fukushimanuclear power plant.

"It is currently all eyes onJapan, but also have an eye onthe situation in the MiddleEast, which has been eclipsedby the developments in Japan,"he added. "The twin shocks ofMiddle Eastern political upris-

ings and the largest earthquakeever to hit Japan haveincreased downside risks toglobal growth and metalsprices in the short term," saidBarclays Capital in a note.

Interest in gold exchange-trad-ed funds remained lacklustre,with holdings of the largest,New York's SPDR Gold Trust,edging down by another 0.9tonnes on Tuesday to a 10-month low, continuing a trendseen throughout this year.

Holdings of the US basedp a l l a d i u me x c h a n g e -traded prod-uct declinedby 4.3 percent onT u e s d a y ,meanwhile.

P l a t i n u mand palladium prices alsorecovered on Wednesday, butbuyers remain nervous on fearsthe earthquake in Japan couldhurt demand for the metalsused in auto catalysts.

Platinum was last up 1.1 percent at $1,719.49 an ounceagainst $1,700, while palladi-um was at $715.00 against$704.50. Silver was bid at$34.89 an ounce against$34.29. -Reuters

Gold rises as marketsstabilise; focus on Japan

NEW YORK: US cottonfutures finished limit down forthe second straight sessionTuesday as fears over Japan'sdisasters and nuclear crisis onthe global economy took theirtoll on fiber, analysts said.

It was the market's fifth fallin six sessions. "Everything isin concert with Japan," saidMike Stevens, an independ-ent cotton analyst inMandeville, Louisiana."You've got wholesaleretrenchment in every assetclass today." The key Maycotton contract on ICEFutures US dropped its 7-cent

limit to finish at $1.9094 perlb, with the session top at$1.9957. Last week, the mar-ket lost 3.7 per cent, the firstweekly loss for cotton futuresin 9 weeks.

Volume traded stood at18,000 lots, over 50 per centabove the 30-day norm,Thomson Reuters preliminarydata showed.

Japan, the world's thirdlargest economy, scrambled tohead off a meltdown at a strick-en nuclear plant, and Stevenssaid the cost of clean-up andrecovery in the country's quakeand tsunami-hit areas will hit

global economies. The next bitof information which will pro-vide direction for cottonfutures would be the USDA'spotential plantings data onMarch 31. That is the firstgovernment survey of likelyplantings for major row cropslike cotton, corn, soybeansand wheat in 2011.

Open interest in the market,an indicator of investmentexposure in cotton, stood at172,588 lots as of March 14,compared with 174,908 lotsin the previous session, datafrom ICE Futures USshowed. -Reuters

US cotton closes limitdown on Japan's crisis

LONDON: Copper rose onWednesday as investorssought value after Tuesday'sthree-month lows, but gainswere fragile due to worriesJapan's nuclear crisis andunrest in North Africa andthe Middle East could hitgrowth.

Three-month copper on theLondon Metal Exchangeclosed at $9,260 a tonne inofficial rings, up $9,118 at theclose of the session onTuesday during which it hit athree-month low of$8,944.50 when equities alsotumbled on the nuclear crisis,tsunami and earthquake inJapan.

Not even data showing UShousing starts posted theirbiggest fall in 27 years inFebruary could reverse thebuying of copper and otherbase metals on Wednesday.

"It's more risk appetite backin the market, and secondly(investors are) thinking theslump of the recent daysmight be overdone," EugenWeinberg, an analyst atCommerzbank, said of cop-per's gains.

"From the fundamental side

it's looking good for copperthis year," he said. But headded that concerns otherthan fundamentals were play-ing on investors' minds:

Japan's crises, high oil pricesand nervy equity markets.

Rising oil prices that boost-ed inflation concerns alsoraised worries about econom-ic growth, with unrest esca-lating in oil-exporting Libyaand in Bahrain, which is

neighbour to top oil producerSaudi Arabia.

Also unnerving markets,Moody's cut Portugal's sover-eign debt rating by twonotches.

"The twin shocks of MiddleEastern political uprisingsand the largest earthquakeever to hit Japan haveincreased downside risks toglobal growth and metalsprices in the short term,"Barclays Capital said in anote.

Aluminium was at $2,458 atonne, from a last bid of$2,510 on Tuesday.

In LME warehouse, latestdata shows that aluminiumstocks fell 4,475 tonnes to4,620,450 tonnes, but are stillwithin sight of a record4,640,750 tonnes hit inJanuary 2010. Added to thatare the roughly 4-5 milliontonnes of aluminium offLME stock.

Tin was unchanged at$28,600 a tonne, zinc was at$2,288 a tonne from $2,282and nickel was at $24,950 atonne from $24,705. Leadwas at $2,580 a tonne from$2,505. -Reuters

Copper rebounds butJapan tensions remain

9Thursday, March 17, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1260

January (3rd Wednesday) 1310 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for March 15 2011

LME Official Prices, US$ per tonne for March 15 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2365 2473 8975 2489.5 25075 28090 2234.5 2485

Cash seller 2375 2474 8980 2490 25080 28095 2235 2490

3-months buyer 2345 2508 8990 2465 25125 27900 2266 2505

3-months seller 2355 2509 8991 2470 25130 27905 2267 2515

15-months buyer 2340 2588 8980 2418 24335 27765 2323 2560

15-months seller 2350 2593 8990 2423 24435 27815 2328 2570

27-months buyer 2340 2645 8725 2380 23435 2328 2615

27-months seller 2350 2650 8735 2385 23535 2333 2625

LONDON METAL EXCHANGE (METALS)

LONDON: Oil prices jumpedon Wednesday due to escalat-ing violence in the Middle Eastand worries about oil supplyfrom the region but retreatedlater on fears Japan's nuclearcrisis was spinning out of con-trol.

Brent crude retreated afterrising by more than $3 earlierin the session after theEuropean UnionE n e r g yC o m m i s s i o n e rsaid the situationat the troubledJapanese reactorwas effectivelyout of control andpotentially cata-strophic.

"In the coming hours therecould be further catastrophicevents, which could pose athreat to the lives of people onthe island," Guenther Oettingertold the European Parliament.

Brent for April was up $2.21at $110.73 a barrel by 1630GMT, rebounding from athree-week low on Tuesday.

US crude futures were up 95cents at $98.13 a barrel aroundthe same time, off highs of$99.6 a barrel.

"The cooling systems did notwork, and as a result we are

somewhere between a disasterand a major disaster,"Oettinger said.

Escalating violence in theMiddle East redirected thefocus of attention on the oil-producing region onWednesday, supporting oilprices.

A crackdown on protesters inBahrain, where Saudi troops

have intervened, resulted in atleast four deaths, according tohospital sources, while clashesintensified in the streets ofYemen, Syria and Algeria.

Iran also chimed in withPresident MahmoudAhmadinejad quoted by statetelevision condemningBahrain's crackdown on main-ly Shi'ite protesters as unjusti-fiable.

"Saudi is not happy aboutwhat is going on in Bahrain ...The situation in Bahrain ispotentially destabilising for

Saudi Arabia," said DavidMorrison, a strategist at GFT.

Muammar Gaddafi's advancein Libya added to uncertaintyon Wednesday, as traders spec-ulated whether the West wouldtake measures resulting in pro-longed loss of Libyan oil sup-plies.

"The question is, if the gov-ernment is regaining power

what shouldthe West do -that is puttingsome geopo-litical riskback in," saidR o bMontefusco,an oil trader atS u c d e n

Financial.US crude oil futures gained

after a larger-than-expectedgasoline stockdraw reported bythe US Energy InformationAdministration (EIA) pulledgasoline inventories to thelowest level since the week toJan. 7.

But the build in crude oilstocks exceeded forecasts, withinventories rising by 1.75 mil-lion barrels according to theEIA report, compared to a 1.3million-barrel gain expectedby analysts. -Reuters

Oil rebounds on ME;Japan fears on the rise

Europeanvegetableoil prices

ROTTERDAM: The fol-lowing were theWednesday's Rotterdam veg-etable oil price's at 22:00PST.

SOYOIL: EU degummedeuro tonne fob exmill Mar11885.00-10.00, Apr11 885.00-10.00, May11/Jul11 893.00-10.00, Aug11/Oct11 900.00-10.00.

RAPEOIL: Dutch/EU eurotonne fob exmillMay11/Jul11 960.00+15.00,Aug11/Oct11 905.00+10.00,Nov11/Jan12 915.00+15.00,Feb12/Apr12 920.00+15.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1340.00-20.00,Jul11/Sep11 1340.00-20.00,Oct11/Dec11 1300.00-20.00,Jan12/Mar12 1330.00.

LINOIL: Any origin dlrstonne extank RotterdamApr11/May11 1497.50-25.00.

CRUDE PALM OIL:Sumatra/Malaysia slrsoption dlrs tonne cif R'damAfloat 1145.00, Mar111145.00, Apr11 1145.00,May11/Jun11 1140.00,Jul11/Sep11 1132.50+7.50,Oct11/Dec11 1122.50+7.50.

PALMOIL: RBD dlrstonne cif RotterdamMay11/Jun11 1200.00,Jul11/Sep11 1165.00.

PALMOIL: RBD dlrstonne fob MalaysiaM a y 1 1 / J u n 1 11145.00+22.50, Jul11/Sep111110.00+20.00.

PALM OLEIN: RBD dlrstonne fob MalaysiaM a y 1 1 / J u n 1 11155.00+25.00, Jul11/Sep111 1 2 0 . 0 0 + 2 2 . 5 0 ,O c t 1 1 / D e c 1 11107.50+20.00.

PALM STEARIN: Dlrstonne fob Malaysia Apr111145.00+20.00.

PALM FATTY ACID DIS-TILLATE: Dlrs tonne fobMalaysia Apr11 890.00.

COCONUT OIL:Phil/Indon dlrs tonne cifRotterdam Apr11/May111 8 1 0 . 0 0 + 1 0 . 0 0 ,M a y 1 1 / J u n 1 11800.00+20.00.

PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Mar11/Apr111 8 5 0 . 0 0 - 1 0 0 . 0 0 ,Apr11/May11 1835.00-85.00, May11/Jun111810.00-80.00.

CASTOROIL: Any origindlrs tonne extank RotterdamMay11/Jun11 2695.00+0.00.-Reuters

Indian sugarstrengthens

MUMBAI: Indian spot sugarprices were trading higher onWednesday due to an increasein demand from cold drinkmakers, dealers said.

"Sugar prices are expectedto go up as the demand fromnorth India is picking up dueto increasing temperature,"said a dealer based in theVashi spot market nearMumbai.

Demand for the sweetenerfrom ice-cream and cold-drink makers typically goesup during the summer.

India has made available1.684 million tonnes of non-levy sugar for March, includ-ing 350,000 tonnes of unsoldstocks from February, thegovernment said in a state-ment on Feb. 25.

In Kolhapur, a key marketin top producing Maharashtrastate, the most traded S-vari-ety was trading higher by 17rupees at 2,683 rupees ($59.6)per 100 kg.

At 4:50 pm sugar for Aprildelivery on India's NationalCommodity and DerivativesExchange (NCDEX) wasdown by 0.14 per cent at2,820 rupees per 100 kg.

India has kept its sugar out-put forecast unchanged at24.5 million tonnes for the2010/11 season that began inOctober. -Reuters

NANNING: Farmers work at vegetable field in Nanning, Guangxi Province of China. -Reuters

ICE sugar,

coffee reboundLONDON: ICE raw sugar and

coffee futures prices rallied on

Wednesday, as commodity

markets rebounded after a sell-

off unleashed by Japan's

nuclear crisis.

Cocoa prices jumped, under-

pinned by fears over supplies

from top producer Ivory Coast

as its political crisis worsened.

Dealers spoke of some bear-

ish factors weighing on sugar

such as more of the crop than

expected still awaiting harvest

in Thailand, expectations of a

big centre-south Brazilian

cane harvest, and talk that

India could potentially export

a sizeable tonnage of sugar.

ICE May raw sugar futures

traded up 0.45 cent or 1.75 per

cent at 26.10 cents a lb at 1526

GMT, well below a Feb. 2 30-

year high of 36.08 cents a lb.

London May white sugar was

up $6.10 or 0.9 per cent at

$673.20 per tonne in modest

volume of 4,252 lots.

Coffee traded higher, track-

ing gains in the commodity

complex, underpinned by tight

supplies of high quality beans.

ICE May arabica coffee trad-

ed up 5.85 cents or 2.2 per cent

at $2.6880 per lb at 1530

GMT, below the 34-year high

of $2.9665 a lb hit last week.

Liffe May robusta coffee trad-

ed up $83 or 3.5 per cent at

$2,458 per tonne in moderate

turnover of 7,386 lots.

Cocoa futures prices

jumped, underpinned by grow-

ing tensions in top producer

Ivory Coast, where exports

have slowed to a trickle.

ICE May cocoa traded up

$61, or 1.9 per cent, at $3,316

a tonne at 1528 GMT, below

the 32-year peak hit earlier this

month of $3,775. Liffe May

cocoa was up 36 pounds or 1.7

per cent to 2,157 pounds per

tonne in moderate volume of

7,713 lots.

An export ban, sanctions

against the country and a crip-

pled banking system have left

the Ivorian cocoa industry at a

standstill. -Reuters

Shanghai copper

ralliesShanghai copper rallied

nearly 3 per cent on

Wednesday on technical

buying, its biggest one-

day climb in more than

three months, though cau-

tious investors continued

to keep an eye on the

nuclear crisis in Japan.

Shanghai's most-active

copper futures contract

gained 2.9 per cent at

70,580 yuan, its biggest

one-day rise since early

December last year.

Violent clashes in Bahrain, Yemen, Syria support prices

JAKARTA: Malaysian palmoil futures shed as much as 3per cent on Wednesday, track-ing other commodity priceslower as the nuclear crisis inJapan sent investors scram-bling for perceived safe havenassets.

The benchmark May 2011crude palm oil contract onBursa Malaysia Derivativesended down at 3,347Malaysian Ringgit ($1,091) atonne, after earlier touching alow of 3,268 ringgit.

Prices of the vegetable oil,used in products such as food,cosmetics, tyres and biofuels,hit a near four-month low of3,250 on Tuesday.

"It's a sad scenario," said onetrader. "There have been twoattempts to recover sinceFriday, but the market has suc-cumbed to selling pressure.Overnight, Chicago collapsed.It is time to form a bottom --3,250 should be a temporarybottom."

Traded volume on the

Malaysian benchmark stood ata near three-week high at25,206 lots of 25 tonnes each,compared 18,601 lots notchedon Tuesday.

ICDX's May CPO futurescontract was at 9,825 rupiahper kg, compared to 9,690rupiah per kg when it opened.Market volume was 789 lotsof 10 tonnes each.

Japan imports around500,000 tonnes of palm oileach year. Global palm oilproduction was about 45 mil-lion tonnes in 2010.

In comparable vegetableoil markets, the most-activeSeptember 2011 soyoil onthe Dalian CommodityExchange traded at 9,806yuan versus 9,700 yuan.Palm oil is seen heading forrecord highs in 2011 onexpectations that costlycrude oil would bolsterbiodiesel demand and offsetbetter harvests, participantsat a conference in Malaysiasaid this month. -Reuters

Palm falls more than3pc on Japan worries

BANGKOK: Tokyo rubberfutures jumped 4.5 per centon Wednesday on the backof short-covering, with con-tracts snapped up on supplyconcerns after three Asianrubber producers sought toprevent further price falls,dealers said.

The benchmark rubbercontract on the TokyoCommodity Exchange forAugust delivery rose 16 yen,or 4.5 per cent fromTuesday's close, to settle at369.0 yen ($4.56) per kg.

The most active Shanghairubber futures contract forMay delivery also rose 1,090yuan to settle at 34,245 yuan($5,211) per tonne.

The world's top rubberproducing countries,Thailand, Indonesia andMalaysia, will hold anurgent meeting this week tofind ways to support pricesthat have collapsed thismonth, a senior industryofficial said on Tuesday.

Dealers said TOCOM rub-ber was likely to rise furtheron Thursday on supply con-cerns as players feared thetop three producers could cutexports, as they did in 2009.

"TOCOM should continueto rise. However, it dependson how aggressive of meas-ures of the top producerswould be," one dealer said. -Reuters

Tokyo rubber up 4.5pcon supply concern

Thursday, March 17, 2011

Kamranmay open

vs Australia KARACHI: Pakistan captainShahid Afridi has indicated thatblundering wicketkeeperKamran Akmal may open theinnings in place of AhmedShahzad in the team's lastleague match of the ICCCricket World Cup againstAustralia on Saturday.

Young Ahmed Shahzad hasbeen off-colour in the presti-gious event so far, according toa report published on the web-site of an international sportschannel on Wednesday.

"Ahmed is a talented kid buthe has not really learnt from hismistakes. We have been show-ing faith in his abilities butAhmed Shahzad has failed togive us a single good start andnow we are thinking aboutgoing into the match againstAustralia with a new openingpair," Afridi said.

The flamboyant player fur-ther said that the best replace-ment of Ahmed Shahzadseemed to be the experiencedwicketkeeper-batsman KamranAkmal, who has played as anopener with some success inthe past.

Ahmed Shahzad couldn'tfulfill his pre-World Cup prom-ise, failing for the fifth time inthe tournament when he scoredjust eight runs in Pakistan'spenultimate Group A matchagainst Zimbabwe on Monday.

Coach Waqar Younis was notpleased either with the wayAhmed threw his wicket awayagainst the African side in anattempt to hit the ball out of theground. "It was a rash shot fromShahzad. It wasn't reallyrequired at the time. But don'tforget he is a youngster, he isonly 21 and brand new in thisarena," Pakistan coach com-mented.

Even though the men-in-green didn't get off to an idealstart, another World Cup debu-tant Asad Shafiq played aresponsible knock of 78 notout, guiding his side to a berthin the quarter-finals.

The Pakistan captain wasimpressed with the perform-ance of the Karachi-basedyoungster, who, he hoped,would continue to bat at num-ber three for the team in theremainder of the tournament.

Pak-Aussies last league "A"tie will be an important gamefor both teams, as the outcomewill determine their quarter-final opponents. -APP

Most Runs

Players Mat Runs HS Ave SR

Virender Sehwag(India) 5 327 175 65.40 125.28

Sachin Tendulkar(India) 5 324 120 64.80 100.30

AB de Villiers(SA) 4 318 134 106.00 111.18

Most Wickets

Players Mat Wkts BBI Ave Econ

Shahid Afridi(Pak) 5 16 5/16 10.06 3.50

Sulieman Benn(WI) 4 12 4/18 12.50 4.43

Zaheer Khan(India) 5 12 3/20 16.41 4.31

RECORD BOARD

Wapda cyclistwins 8th stage

of tour de PakLAHORE: Wapda's ace

cyclist,Haroon Rashid won

the 8th stage of tour of de

Pakistan cycle international

race here on Wednesday.

Haroon returned a timing

of 3H.44M.01S to cross the

finish line at Lahore after

starting the 178 kilometre

long stage from Sahiwal.

Altogether 46 riders set off

on a strenuous journey and

Haroon maintained an aver-

age of 47.68.KM/H and

exhibited superior technique

and stamina to leave behind

all the riders ahead the finish

line with visible lead.

Behind him was SSGC's

Farooq with a timing of

3H.44M.11S.Sabi from Wapda

was at third place clocking

3H.44M.21S. At fourth place

was Afghanistan's Hashmat

U l l a h

3H.44M.31S .Mohammad

Rafiq from Army and SSGC's

Sultan Aftab were at fifth and

sixth places.

After a days rest tomorrow,

Thursday the cyclists will

resume their journey for Gujrat.

-APP

10

GROUP A

Teams Mat Won Lost Tied N/R Pts Net RR

GROUP B

Teams Mat Won Lost Tied N/R Pts Net RR

Australia 5 4 0 0 1 9 1.693

New Zealand 5 4 1 0 0 8 1.957

Pakistan 5 4 1 0 0 8 0.729

Sri Lanka 5 3 1 0 1 7 2.705

Zimbabwe 5 1 4 0 0 2 -0.669

Canada 6 1 5 0 0 2 -1.987

Kenya 5 0 5 0 0 0 -3.005

South Africa 5 4 1 0 0 8 1.606

India 5 3 1 1 0 7 0.768

West Indies 4 3 1 0 0 6 2.206

Bangladesh 5 3 2 0 0 6 -0.765

England 5 2 2 1 0 5 0.013

Ireland 5 1 4 0 0 2 -0.881

Netherlands 5 0 5 0 0 0 -2.386

Vodacom Bulls captain, Victor Matfield attends a VodacomBulls press conference at Loftus Versfeld Stadium

BANGALORE: Australia'sopeners put on an emphaticdisplay to follow the perform-ance of their bowlers as theycrushed Canada by sevenwickets in their World CupGroup A match Wednesday.

It took Australia's unbeatenrun in the World Cup to 34matches stretching back to1999. They go top of the group.

Having already booked aplace in the quarter-finals,Australia first ripped outCanadafor 211 after some ini-tial resistance, and then open-ers, Shane Watson (94) andBrad Haddin (88) chased downthe majority of those runs.

Watson and Haddin saw outthe initial overs and took thescore to 94 in 21 overs andthen cut loose after taking thebatting powerplay.

Watson, dropped in the sec-ond over by Rizwan Cheema,was the more aggressive afterthe powerplay, hammeringnine fours and four huge sixes

in his 90-ball knock.Haddin rode his luck and

matched Watson shot-for-shotin his 84-ball innings until hisluck finally ran out in the 29thover when he was caughtbehind off the bowling of JohnDavison, who retired frominternational cricket after thismatch.

Four balls later Watson wascaught on the boundary off thebowling of Harvir Baidwantrying to reach his century withanother six.

Earlier, Canada could notcapitalise on opener HiralPatel's whirlwind half-centuryas the Australian pace bowlersput on a fearsome display ofbowling to run though theNorth American's middle andlate order batting.

Opting to bat after winningthe toss, 19-year-old Patelslammed a 45-ball 54, includ-ing one six each off Brett Lee,Shaun Tait and MitchellJohnson in his hour-long stay

at the crease.Canada blazed 77 in 10 overs

and Patel eventually fell tryingto whack the fourth of theAustralian pace quartet,Watson, for a six.

After Patel's exit, Canada'srun rate slowed dramatically astheir captain Ashish Bagai(39)and Zubin Surkari (34) rebuiltthe innings and took the scoreto the 150 mark in the 29thover, before both fell to Tait.

The Aussie speedsters thentook over and Canada crum-bled from a comfortable 150-2to 161-6 in the space of 19deliveries and barely crawledover the 200 mark.

Lee finished with four for 46,Tait picked up two for 34 whileJohnson chipped in with one.

A low point for Australia wasthe failure again of captainRicky Ponting with the bat. Hemistimed a pull and was caughtfor seven off Henry Osinde.

"You could say I am due, See # 15 Page 11

Aussies walkover Canada

MELBOURNE: DamienWright, the Victoria fastbowler, has announced hisretirement from Australianfirst-class cricket. Wright waspart of the Australian first-classcircuit for 15 years since hisdebut for Tasmania in 1997-98.

He's been part of three of thelast four Sheffield Shield-win-ning teams, for Tasmania in2006-07 and twice for Victoria,where he moved to in 2008-09.He joined Worcestershire inJanuary this year and will bepart of their domestic seasonstarting April.

"I guess I wanted to go outon my own terms whilst feel-ing satisfied and happy," saidWright, who picked up 375wickets in 116 first-classgames. Victoria's finalSheffield Shield game of the

season, against Queensland,was also his last. "When ourmatch against Queensland fin-ished, I realised it was my timeand the right moment for me togo out. I've been really lucky tobe a part of several titles andachieve what I have during mycareer; it's been an amazingjourney and a ride I've reallyenjoyed."

Wright said he was gratefulto Greg Shipperd, his coach atTasmania and Victoria, for hismentoring. "I've been verylucky to have Shippy as acoach throughout my career inboth Tasmania and now inVictoria," Wright said. "He'sprovided me with many oppor-tunities, he started my first-class career off and now ironi-cally I'll finish it under him.I'm extremely fortunate to have

him as a mentor - he is some-one who has played a huge rolein my career and I thank himfor that."

Apart from his skills as apace bowler, Wright was alsoan effective batsman in thelower order. He averaged 24.08with the bat and among his all-round highlights was his per-formance for Tasmania in theirSheffield Shield win in 2006-7,where he claimed eight wicketsand contributed 67 and 47 withthe bat in the final.

In 2009-10, he overcameinjury after missing Victoria'sfirst five games to play a sig-nificant role with the ball inhis team's eventual success.He's also Victoria's bowlingcoach and hopes to continuethat role.-Online

Wright retires fromAus first-class cricket

Pollardaims tosilence

doubtersCHENNAI: West Indiesentered the World Cup rankedNo. 9, below Bangladesh forthe first time, and without a winagainst a Test nation in 20months. Not surprisingly, theydidn't feature too high in mostlists of favourites, a fact whichhasn't pleased their allrounderKieron Pollard.

"We have a lot of things thatare driving us at the moment,"Pollard told reporters inChennai on Tuesday. "One ofthe things is that we were actu-ally written off when we camehere from the start, somethingthat's at the back of our minds,we are just using that as a moti-vating factor to go forward."

West Indies and Pollard havebounced back strongly after theopening defeat to South Africain which the allrounder wasshot out for a golden duck byDale Steyn. West Indies havereeled off three comfortablevictories, while Pollard hasshowed off his brand of power-hitting with two match-trans-forming half-centuries.

There was further good newsfor West Indies with their expe-rienced and explosive openerChris Gayle recovering fromthe abdominal strain that kepthim out of the game againstIreland on Friday. "Chris iscoming along pretty good,"Pollard said. "He should be fitfor the game against England,so we should have a full squadof 15 guys the team manage-ment will have to choose from."

England need a victory onThursday against West Indiesto remain in the race for thequarter-finals, but will have theadded disadvantage of comingup against Ottis Gibson, whonow mentors West Indies afterrelinquishing his job asEngland bowling coach justover a year ago. "It will be use-ful for us [having Gibson onboard], the information he canpass on to us, because he wasthe bowling coach for them,"Pollard said. "But doesn't mat-ter how much information hepasses, it's a matter of going outthere and executing whateverhe says."-Reuters

LAHORE: Pakistan tennis star Aisam ul-Haq together withIndia's Rohan Bopanna forced their way into the quarter finalbeating Indian Leander Paes and Mahesh Bhupathi in IndianWells, California on Wednesday.

In a tightly contested match between the current runners up ofthe Australian Open and the US Open, it was the Indo-Pak duowho came out on top 6-3, 6-4,said the information made availablehere.

Momentum swung from one side of the net to the other in thisnerve wracking encounter, where the first set saw a total of threebreaks of serve. Aisam and Rohan broke early, only for theiropponents to break back immediately. Having converted the 2break point chances they themselves had created, Aisam andRohan found themselves with a chance to serve out the first set at5-3, 40-15.

However, a string of 5 back to back fault serves gave Paes andBhupathi a chance to break back once more. Calming their nerves,Aisam and Rohan made it 4 break points saved out of 5 for thefirst set, to eventually win it. Paes and Bhupathi have years ofexperience over the Indo-Pak Express, and this told in the waythey fought back in the second set, carving out three break pointsin the very first service game. However, Aisam and Bopannaremained unnerved in the face of this onslaught, and took theirpoints one at a time to take the game. Mirroring the events of thefirst set, Aisam and Bopanna forged an opportunity to break in thevery next game, racing to 0-40 on Paes's serve.-Reuters

Aisam-Rohan inParibas Open QF

PALLEKELE: Pakistan might have eased intothe quarter-finals of the World Cup but the 1992champions are aiming to top Group A with a vic-tory over world champions Australia in theirfinal league match on Saturday.

According to PTI, Pakistan defeatedZimbabwe by seven wickets in a rain-curtailedmatch to secure the fourth and final quarter-finalspot from Group A with eight points from fivegames.

"We will definitely play well against Australia.It`s a match which we`ll take very seriously,"Afridi said.

"It would be another day and a new game. Weknow how important that match is and we hopeto give our best."

Asked whether pacer Umar Gul, who won theman-of-the-match award for his three for 34runs spell, would continue to bowl with the newball for the remainder of the tournament, Afridisaid, "It depends on the opposition and condi-tions. "Today it was overcast and that`s why weopted to bowl him with the new ball. Maybewe`ll change the combination for the nextgame," he added.

Man-of-the-match Gul echoed similar senti-ments to that of his captain and said they areready to take on Australia in Colombo onSaturday.

"We are looking forward to the big gameagainst Australia and will do the home work forthem," Gul said in the post-match press confer-ence.

He said he was happy to have got back hisrhythm.

"I`m back in my form and rhythm. I tried tobowl wicket to wicket. I looked at the pitchbefore the match, I was happy to bowl first. Weare looking forward to the game againstAustralia. We have done our homework, we willdo our best," he said.

Although Gul has generally come in as firstchange for Pakistan in this competition, today heshared the new ball with Abdul Razzaq and trou-bled the Zimbabweans from the word go.

The loss meant Zimbabwe are out of the com-petition with one game left and captain EltonChigumbura admitted his side did not haveenough runs on the board to challenge Pakistan.

"We lacked runs. We lost too many wicketsand when that happens it`s hard to come back tothe game. With the rain we lost momentumtowards the end," he said.

"After this, we are going to work on our bat-ting, especially in the first 10 overs. I thoughtCraig Ervine played pretty well. I`m happy withthe bowling also, the spinners with old ballbowled good lines," he added. -Online

Greenshirts upbeat towolf down Kangaroos

BANGALORE: Shane Watson of Australia batting watched by wicketkeeper Ashish

Bagai of Canada during the Group A ICC World Cup match between

Australia and Canada at M Chinnaswamy Stadium.-Reuters

11Thursday, March 17, 2011

International & Continuation

CONTINUATION

would have been nice to be not out, but maybe I am saving it up for the big games," he said.Overall he was reasonably satisfied with the performance against a team which were not really

in the same class as the world No 1 side."Things went not too bad. They caught us on the hop a little bit with the way they started. I

thought their top four or five batted really well," he said."They got themselves a reasonable total but then the boys played really well and Watson and

Haddin were outstanding."We haven't fully been tested yet. We know we're going to be tested against Pakistan in a cou-

ple of days in Colombo (Friday) and we look forward to it."

Continued from page 10No #15

He said that subject matter fell within the executive domain asper mandate of the Constitution and it did not come within theambit of judicial power or jurisdiction under Articles 184 or 199of the Constitution.

He said the decision was taken by the Federal Government afterevaluating their performance and the instant proceedings wouldamount to sitting on appeals against the exercise of the executiveauthority of the Federal Government.

Making a request to the bench, the counsel said "A committeeconstituted on the directive of the Prime Minister may be permit-ted to determine the cases of all such officers, fairly, justly andwith procedural propriety." -Agencies

Continued from page 12No #1

Other nuclear plants have been installed at Chashma which isout of earthquake zone and this site was selected after detailedstudy regarding safety of nuclear plants.

Dr Mubarak said Pakistan has adopted sufficient safety steps forits nuclear reactors. -Agencies

Continued from page 12No #2

The ordinances would come into force at once and taxesimposed through these ordinances would stand imposed on tax-payers of the country with immediate effect. -Online

Continued from page 12No #3

Syed Naveed Qamar Minister of Privatisation, Water &Power further said that the Protocol signed at Dushanbe thismonth during the 4th Pak-Tajik JMC provided vast opportuni-ties for bilateral cooperation in various fields including agricul-ture, education, trade, energy, health, sports, tourism, industry,investment, banking, transport, communications, culture andcombating drugs. -APP

Continued from page 12No #4

WASHINGTON: U.S. pro-ducer prices surged inFebruary at their fastest pacein 1-1/2 years, data showedon Wednesday, a day after theFederal Reserve said it had awatchful eye on inflationpressures it expects to sub-side.

In another reminder onWednesday of the headwindsfacing the economy, the gov-ernment said groundbreakingfor new homes posted thebiggest drop in 27 years, andpermits for future buildingreached a record low.

Economists said the jump infood and energy costs thatdrove the U.S. producer priceindex higher last monthwould

likely steal from otherspending and slow growth.

"I don't believe that this is ageneral rise in prices acrossthe board, it's not the stuff ofan inflationary spiral, but you

are starting to have some pric-ing pressures," said BrianLevitt, an economist atOppenheimerFunds in NewYork.

The data and the escalatingnuclear emergency in Japan

pulled down U.S. stocks.Investors were still trying tocome to grips with whatimpact the devastating earth-quake and tsunami could haveon the global economy.

Economists believe the U.S.economy should be able towithstand the shock from theoil price spike and anyspillover effects from the dev-astation in Japan. Bond pricesrose as traders saw the surgein prices and drop in housingstarts as likely to impede therecovery, but the data had lit-tle impact on currencies.

The PPI, which measuresprices received by farms, fac-tories and refineries, jumped1.6 per cent last month, the

largest increase since June2009, the Labor Departmentsaid. The gain was more thandouble economists' expecta-tions.

In the 12 months toFebruary, producer priceswere up 5.6 per cent, thebiggest rise since March2010.

Economists said given thelofty level of U.S. unemploy-ment and lack of wage-drivenprice pressures, they did notexpect the strong producerprices to pass through to con-sumers on a large scale.

"You are seeing inflation onthe goods side, you don't seeit on the service side. This is aservice economy and inflationwill be driven more by wagesand to this point wages arereasonable," said Levitt. "Buton Main Street, you will cer-tainly feel the shock whetherit is at the gas pump or thesupermarket." -Reuters

American inflation pressures bubbling,homebuilding divesn Housing starts dive 22.5 pct, largest fall in 27 years

TOKYO: Japan's devastatingearthquake and deepeningnuclear crisis could result inlosses of up to $200 billion forthe world's third largest econo-my but the global impactremains hard to gauge five daysafter a massive tsunami batteredthe northeast coast.

As Japanese officials scram-bled to avert a catastrophic melt-down at a nuclear plant 240 km(150 miles) north of the capitalTokyo, economists took stock ofthe damage to buildings, pro-duction and consumer activity.

The disaster is expected to hitJapanese output sharply over thecoming months, but economistswarned it could result in a deep-er slowdown if power shortagesprove significant and prolonged,delaying or even scotching the"v-shaped" recovery that fol-lowed the 1995 Kobe earth-quake.

Most believe the direct eco-nomic hit will total between 10-16 trillion yen ($125-$200 bil-lion), resulting in a contractionin second quarter gross domes-tic product (GDP) but a sharprebound in the latter half of2011 as reconstruction invest-ment boosts growth.

"The economic cost of the dis-aster will be large," economistsat JP Morgan said. "There hasbeen substantial loss to econom-ic resources, and economicactivity will be impeded byinfrastructure damages (likepower outages) in the weeks ormonths ahead."

Japanese stocks suffered theirworst two-day rout since the1987 crash on Monday andTuesday, losing a whopping$626 billion in value, beforerebounding 5.7 percent onWednesday as hedge fundsrushed to cover short positions.

But traders remained skittish,swayed by each new develop-ment at the stricken Fukushimapower plant and alert to signsJapanese companies and insur-ers could sell sizeable foreignassets and repatriate funds tocover the costs of the nuclearcrisis, quake and tsunami.

High-yield bonds and U.S.Treasuries top the list of vulner-able assets should the triple dis-aster of earthquake, tsunami andnuclear breakdown promptJapanese investors to bringoverseas funds back home, ana-lysts say.

Although the damage to infra-

structure has been severe, someof the biggest risks to the econ-omy may come from indirectmarket consequences of the dis-aster, such as a rise in theJapanese yen.

The yen surged to an all-timehigh against the dollar after theKobe earthquake in 1995 asJapanese firms pulled fundshome. The dollar has fallen 3percent against the yen since thedisaster and is now close to thelow hit after Kobe.

The direction of the yen couldhave a big impact on Japanesecarmakers like Toyota MotorNissan Motor and Honda Motorwhich build between 22 and 38percent of their cars at home.

HSBC Chief EconomistStephen King said it was stilltoo early to put a figure on theeconomic costs as the scale ofthe disaster was not yet clear.

The area of Japan affected bythe tsunami produces around 4.1percent of the country's GDP,suggesting first-round economiceffects could be limited, he said.But with the fate of theFukushima nuclear reactors stillunclear, Japan may not have feltthe full force of the disaster yet.-Reuters

Economic hit from Japanquake seen up to $200bn

n GDP seen shrinking in Q2 before reconstruction-led rebound

LONDON: The number of Britons out of workrose to its highest since 1994 in January, officialdata showed on Wednesday, prompting callsfrom business and unions for measures to boostjobs in next week's annual budget.

Financial markets got a boost from figuresshowing unemployment benefit claims fell lastmonth, but public attention focused on recordyouth unemployment and the highest overallunemployment rate in 10 months.

The total number of unemployed rose by27,000 to 2.529 million in the three months toJanuary, a number last seen when Britain wasemerging from recession in late 1994.

An unexpected 10,200 fall in the number ofpeople claiming unemployment benefit inFebruary offered only limited comfort, and wagegrowth remained well below the levels that

would make the Bank of England want to raiseinterest rates.

"With the government's austerity plan likely toresult in further cuts in public sector jobs ... totalunemployment is likely to increase to 2.65 mil-lion over the next 12-15 months before it startsdeclining," said David Kern, chief economist forthe British Chambers of Commerce (BCC).

Conservative finance minister George Osbornehas little scope for more spending to boost jobcreation or slow the pace of public sector cuts, ifhe wishes to stick to a five-year plan to largelyeliminate Britain's 11 percent budget deficit.

The BCC said that the government should usethe budget to ease employment regulation, espe-cially for smaller firms, while the Trades UnionCongress said there should be more funding tohelp the unemployed get back to work.-Reuters

UK jobless hits highestsince 1994 before budget

Strong Canadafactory sales

boost rate

hike talkOTTAWA: Canadian manu-

facturing sales leaped far high-

er than expected in January,

prompting some analysts to

speculate the Bank of Canada

might be tempted to raise

interest rates sooner than the

market expects.

The 4.5 percent month-on-

month increase dwarfed ana-

lysts' predictions of a 1.0 per-

cent rise. Statistics Canada

said on Wednesday that sales

in January hit C$47.7 billion

($48.7 billion), the highest

level since October 2008.

The Bank of Canada has

held its target overnight lend-

ing rate at 1 percent since

September after three increas-

es last year. It has expressed

caution about the timing of the

next hike, citing the strong

Canadian dollar and poor pro-

ductivity as risks to economic

recovery.

According to Thomson

Reuters calculations, investors

think the central bank will not

raise rates until October.

Yet the factory sales prompt-

ed predictions of healthy gross

domestic product growth in

the first quarter and spurred

suggestions that the central

bank might be tempted to

move on rates earlier in the

year, especially since the vol-

ume of sales rose 5.5 percent.

"This is consistent with our

expectations for a strong first

quarter, which suggests a May

rate hike is not off the table

just yet," said Krishen

Rangasamy of CIBC World

Markets.

Sales of motor vehicles

jumped 26.0 percent on large

producttion increases at a

number of plants following

seasonal slowdowns as well as

production difficulties caused

by severe winter weather in

southern Ontario, home to

much of Canada's auto indus-

try. Aerospace sales were up

25.2 percent.-Reuters

services and have developed a network of over 14000 agentsacross the country providing branchless banking services.

He observed that while branchless/ mobile banking inPakistan is still at its infancy, the results have been encourag-ing and people have become believers that their banking needsmay be fulfilled via a nearby general store or mobile balanceload shop or a petrol pump or a neighborhood grocery store.

He said that a number of different stakeholders in Pakistanare ready to play their part in branchless banking as the cen-tral bank is encouraging innovative products and services inthe financial sector in line with its financial inclusion pro-gram. He said that the strong economic growth of Pakistan'seconomy during the last decade witnessed two sectors thatreported strongest growth rates: banking and telecom. Boththese sectors attracted significant foreign direct investment inPakistan.

He observed that the advancements in Information &Communications Technology that have transformed our livesover the past ten-twelve years, also have the powerful poten-tial to change the lives of Pakistan's poor people.

'Technology has the potential to serve the financial needs ofthe unbanked poor,' he added.

SBP Deputy Governor pointed out that there are also chal-lenges attached with this emerging package of mobile bank-ing. In e-Banking, the number of ATMs in the country hasreached 4750. Of the 10,300 branches nationwide, nearly7100 bank branches are offering real time online banking, hesaid, added number of plastic cards has now reached 13.2 mil-lion in circulation.

Continued from page 1No #5

President Zardari said that it has been a practice in the past

to divide the political forces and parties and taking advantage

from their mutual bickering democracy was undermined by

undemocratic elements.

The political forces must be cautious against a repetition of

the past. He said that he was aware of the difficulties faced by

the Punjab PPP MPs in respect of their development funds and

project after their exit from the provincial government.

The President said that in consultation with the Prime

Minister he will set up a committee of the Party MPs to look

into their problems and suggest measures for the continuation

of their development projects with the help of federal govern-

ment, if needed.

Continued from page 1No #6

fields. She said Kyrgyzstan was mounting efforts forimprovement of communication, transportation and road linkswith Pakistan for access to international markets via theGwadar port.

Gilani congratulated President Otunbayeva for her saga-cious leadership in effectively running a parliamentarydemocracy in Kyrgyzstan.

Furthermore, Minister of State for Foreign Affairs HinaRabbani Khar Wednesday said Pakistan and Kyrgyzstan havethe potential to benefit from the transit routes of Central Asiato boost their bilateral trade.

Talking to APP, Khar who is also the State Minister forEconomic Affairs, said Pakistan offered a diverse market forthe Central Asian countries and said Kyrgyzstan could getbenefit of Pakistan's seaports for its trade.

She said in view of Kyrgyzstan's surplus power, Pakistanwas considering working on the modalities of buying electric-ity from the Central Asian Republic.

She urged the international donors to invest in power proj-ects primarily in electricity generation and development oftheir transit facilities, to enable implementation ofCASAREM. -Agencies

Continued from page 1No #7

Rs10,000 on Cuore variants and Rs20,000-30,000 on Hiluxvariants.

The spokesman said the industry had been absorbing theever-increasing input costs for many months but it is difficultto bear the extra burden of FED which IMC had to pass on tothe customers.

He said that the local car sales have already been dwindlingfor past two years and now the recent decision by the govern-ment will have an adverse effect on sales of local cars.

He clarified that as the FED has been imposed on every salefrom March16, the customers taking delivery of their unitsfrom now on will have to pay the additional cost even if theybooked their vehicles before the decision.

Principally whenever Indus Motors increases car prices itcharges only from booking of vehicle but since the excise dutyis to be charged on every sale IMC is bound to charge the sameon every delivery.

According to the statement, in wake of increase in input costsand appreciation of foreign exchange, prices of variants ofDaihatsu Cuore have been raised by Rs35000-Rs55000 whileprices of Hilux 4X2 and Hilux 4X4 have been raised byRs20000 and Rs25000 respectively.

Continued from page 1No #8

improve revenue to curtail fiscal deficit at 5.5 per cent of GDP.Similarly, outstanding stock of government borrowing from SBP has reduced to Rs1.34 trillion

by 5th March, 2011 against Rs1.5 trillion in mid-December 2010.On the other hand, Consumer Price Index (CPI) rose 12.91 per cent in February but their growth

declined comparing January 2011 at 14.19 per cent from a year ago.However, increasing in electric tariff along with imposition of sales tax on fertiliser would

increase the inflation in next months.

Continued from page 1No #9

Saeed did not have any choice and defended his case himself.Special Judge Central (SJC) Sohail Nasir on Tuesday had rejected the bail of former minister in

the infamous Hajj corruption scandal.Upon rejection of his bail, Kazmi was immediately arrested by the FIA officers from the court-

room.It is pertinent to mention that Kazmi was sacked for allegedly being involved in Hajj corruption

scam of billions of rupees. Azam Swati, an ex-fellow federal minister, alleged Kazmi of makingmoney in last Hajj operation and cheating thousands of Hajj pilgrims. -Agencies

Continued from page 1No #10

all charges, he said.Talking to media, Rana Sanaullah said David case was heard before Sessions judge and he was

indicted under section 302.However legal heirs of Faizan and Fahim appeared before the court and confirmed they had

received Diyat and pardoned the culprit.Responding to a question Rana Sanaullah told Davis was already on bail in illegal arms case,

therefore, he was released.Counsel of the deceased families, Asad Manzoor Butt told media that kin of two men were

forced to accept blood-money from US authorities, and that they were being pressurised to signthe monetary compensation documents to pardon the shooter.

He claimed that he was detained for more than five hours in the jail and the family of Faizan,killed by Davis in Lahore, was compelled to sign the document.

On the other hand, Shah Mehmood Qureshi says his stance on Raymond Davis vindicatedFormer foreign minister said that the release of Raymond Davis under Diyat Law has vindicat-

ed the stand he and the Foreign Ministry had taken in the case.In an interview with a private TV channel on the release of American CIA contractor, former

foreign minister said the nation must be taken into confidence the circumstances that led to therelease of the American national.

He said if the heirs of the deceased voluntarily pardoned Raymond Davis then that were perfect-ly right.

He said the nation wants to know the facts and if these were hidden from the people, he fearedthen there would be reaction.

Qureshi said he and the Foreign Ministry had been stating from day one that Raymond Davisdoes not enjoy diplomatic immunity and their stance has been vindicated.

Continued from page 1No #11

Lotte Pakistan stood as the volume leader with 14.48 million shares followed by Nishat Chunianwith 13.1 million shares and Fauij Fertiliser Bin Qasim with 6.77 million shares.

Out of total 342 active issues, 143 declined, 105 climbed, and 94 went nowhere.

Continued from page 5No #12

this year, it looks like Indian shares are at least fairly priced right now. Most of the negativenews flow is already discounted," said Diwan.

He said Japan 's devastating earthquake and tsunami did not have big direct impact on Indiancompanies.

The benchmark BSE index is down 10.5 per cent year-to-date, with foreign funds pulling outaround $1.7 billion from Indian stocks from the start of 2011 to March 14.

Its other BRIC peers have fared relatively better. Brazil's Bovespa is down 3.3 per cent in 2011,while Russia's RTS Index and China's Shanghai Composite Index have gained 9.2 per cent and4.4 per cent, respectively.

Japan's nuclear crisis appeared to be spinning out of control after workers withdrew briefly froma stricken power plant because of surging radiation levels, and investors watched out for furtherdevelopments.

Meanwhile, business sentiment at Asia's top companies rose in the first quarter to its highestlevel in eight quarters, with global economic uncertainty seen as the biggest risk to the positiveoutlook, a Reuters survey showed on Wednesday.

Chinese and Indian firms were the most upbeat about their business outlook, with the majorityof companies either positive or very positive about the outlook, the survey showed. -Retuers

Continued from page 5No #13

Investors were spooked by comment from Europe's energy chief that warned of a further catas-trophe at the Japanese site in the coming hours, although his spokeswoman said he had no specif-ic or privileged information on the situation.

Weak banks took the most points off the index after Moody's overnight cut Portugal's sovereigndebt rating by two notches and said it may have to downgrade again.

Global lender HSBC (HSBA.L) shed 3.6 per cent, with the stock trading ex-dividend togetherwith insurer Standard Life and real estate investment trust Land Securities.

Rising oil prices also knocked sentiment, with Brent crude futures up over $2 to $110.75 a bar-rel on the Japan fears and renewed concern over unrest in the Middle East.

Bahrainis were warned by officials to avoid gathering in public areas for their own safety, whiledemonstrations in Yemen and Syria were violently dispersed by security forces.-Reuters

Continued from page 5No #14

www.asharys.net

tel: 92(42)5694061-2

Italian KitchensLahore

tel: 92(21)5860794-5

KarachiThursday, March 17, 201112

1.Classic News AgencyAbdul Mutalib Ph: 0333 -230 07 66

2. E-mail at subscribe@thefinancialdaily.com, 3.SMS us at 0322-260 2 838

4. Contact Phone: 35 31 18 93 - 6

RIAZ NEWS AGENCY

Cell # 0333-5373137SHAKIL NEWS AGENCY

Cell # 0333-4400472

Manager Circulation

Ahmad OmerFor Subscription

Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.

ISLAMABAD: Federal Minister for Finance, Dr Abdul Hafeez Sheikh and Federal Minister for Information & Broadcasting,

Dr Fidous Ashiq Awan talking to media persons.-APP

ISLAMABAD: The SupremeCourt of Pakistan Wednesdaydirected the government to takesteps on cases of those re-employed on cadre posts (per-manent posts) in violation ofSection 14 of the Civil ServantAct 1973 after attaining age ofsuperannuation and submit aprogress report.

It also directed a three-mem-ber committee formed on direc-tive of the Prime Minister tocontinue its process of re-examining cases of all suchpersons including the DirectorGeneral Federal InvestigationAgency (FIA).

A four-judge bench compris-es Chief Justice IftikharMuhammad Chaudhry, JusticeJaved Iqbal, Justice RajaFayaz Ahmed and JusticeGhulam Rabbani issued thedirective after conducting pro-

ceedings on a suo moto caserelated to the Hajj arrange-ments scam.

The apex court also orderedthat since serious allegationshad been leveled against sittingministers and ministers of state,besides others, therefore, theFIA investigation team headedby Assistant Director GeneralSyed Javed Hussain Bokharishould continue its task withoutbeing influenced by anyonewhosoever he might be.

The bench said that the paceof investigation into the Hajjscam should be accelerated.

The bench in its order alsoaccepted request of AbdulHafeez Pirzada, counsel for theFederation, seeking time forpreparation of the case on con-tract employment andadjourned the case for April 8.

Secretary Establishment

Abdul Rauf Chaudhry was alsodirected to furnish and submit acertificate testifying that the listof re-employed employees wasfinal and no other person wasworking on contract on cadreposts after his retirement.

During course of proceed-ings, the counsel for theFederation read out preliminaryobjections over the contractualemployment aspect of the case.

"The rights of serving gov-ernment servants are availableto them in individual capacityand under the provisions ofCivil Servants laws and rules,"he added.

He said that no fundamentalright was available to a govern-ment servant for demandingpromotion rather it was theentitlement to be considered forpromotion.

See # 1 Page 11

Rethink rehiringrules, SC to govtUrges body to keep digging on contract jobs cases

ISLAMABAD: Largest publicsector entity in oil distribution,Pakistan State Oil has alsoemerged amongst the organisa-tions facing loss. As the compa-ny owes Rs138.541 billioncompared to the receivableamount Rs136.200 billion.

Different national institu-tions including power genera-tion as well distribution com-panies have to pay the amountRs138.541 billion to PakistanState Oil (PSO) on March 15,out of which payment ofRs117.494 million hasbecome due.

According to the source inPSO, Wapda, Hubco, Kapco,PIA, OGDC and KESC haveto repay the debt to PakistanState Oil.

The sources told this newsagency that Wapda has to payRs38.370 billion out ofwhich Rs26.556 billion hasbecome due.

Similarly Hubco has to payRs66.903 billion to PSO out ofwhich payment of Rs62.586 bil-lion has turned matured.

Kapco is also among the list ofdebtors which has to paybackRs26.651 billion which hasbecome due. Likewise KESChas the outstanding amount ofRs2 billion but the same was notpayable yet.

National Airliner PIA owesRs1.583 billion to Pakistan StateOil which has also turned out to

be payable. Similarly OGDChas to pay Rs333 million out ofwhich Rs118 million is overdue.

On the other hand the liabil-ities of PSO have also reachedto Rs138.541 billion out ofwhich Rs87.945 billion hasbecome due.

Pakistan State Oil has to payRs27810 million to Parco,Rs11834 million to PakRefinery Limited, Rs9190 mil-lion to National RefineryLimited, Rs34073 million toAttock Refinery Limited.

PSO has to make payments ofRs4694 million to Bosicor whileothers payments including LCpayment to Karachi Port Trustwhich the PSO has to repaystands at Rs50528 million.

However after settling downthe issues of audit price differen-tial claims and price differentialclaims PSO might earn the prof-it of Rs11065 million as peraccount statement issued by thecompany on 15 March.

Meanwhile, Pakistan State Oilhas restored petrol supply to PIAonce again on Wednesday.

50 per cent of supply was cutdown due to the nonpayment ofarrears on Tuesday.

Talking to the Online, PSO'sspokesperson said that PIA wasfacing problems due to reduc-tion in oil supply. On assuranceof payment, PSO restored thefull supply of petrol to PIA fromWednesday morning. -Online

State Oil payablepasses receivable

Fuel supply to PIA restored on assurance

ISLAMABAD: PakistanMuslim League-N has filedadjournment motion in theNational Assembly onWednesday against thePresidential Ordinance, whichhas allowed the federal govern-ment to impose taxes worthRs120 billion.

The motion was filed by PML-N members Sherry Arshad,Haneef Abbasi and others.

PML-N adopted the stance inthe motion that increase in fed-eral excise duty from one percent to 2.5 per cent would placean extra burden of Rs53 billionon the masses.

They were of the stance thatissuance of PresidentialOrdinance for imposing taxes isillegal and violation of consti-

tution, furthermore it wouldlead to more unemployment.

They said that this matter isof utmost importance and thusshould be immediately debatedon the floor of the House.

The federal governmentTuesday imposed a 15 per centincome tax surcharge, increasedfederal excise duty from one percent to 2.5 per cent.

General Sales Tax (GST)exemption on tractors has beenwithdrawn and 17 per cent GSThas been imposed on tractorswith immediate effect.

In this regard, PresidentZardari has promulgated threeordinances, which haveallowed the federal governmentto impose these taxes.

See # 3 Page 11

In-House debateon tax Ord urged

PML-N files adjournment in NA

ISLAMABAD: Differenceshave cropped up between theGovernment and ParliamentaryCommittee on judges appoint-ment over filing of the reviewpetition against the decision ofthe Supreme Court in the'Judges Appointment' case

Earlier Supreme Court benchhad rejected the recommenda-tion of the parliamentary com-mission and ordered for issu-ing notification for extensionof four judges of LHC and twoof the SHC on the recommen-dation of JudicialCommission.

Parliamentary committeesources told Online that someministers have advised PrimeMinister not to file review peti-

tions on the verdict of SC, andinstead review petitions shouldbe filed against the appoint-ment of 6 judges of LahoreHigh Court and Sindh HighCourt as any appeal against theSC decision could deterioratethe situation with Judiciary.

While on the other hand PC isdemanding an immediate filingof appeal and in this regard PCchairman Nayyar HussainBokhari has telephonedAssistant Attorney General KKAgha and instructed him to filean appeal against SC decisionat the earliest.

While KK Agha has advisedthat matter is with PM and soonas he approves, the appealwould be filed. -Online

Govt, Committeediffer in opinion

Judges Appointment CaseCASA-1000project

to upliftregional

economiesISLAMABAD: Central AsiaSouth Asia Regional Energy &Trade (CASA-1000) Projectwill further strengthen andimprove the bilateral economicties between Pakistan andTajikistan.

Syed Naveed Qamar FederalMinister for Privatisation,Water & Power said during ameeting with Tajikistani Envoyto Pakistan Dr Zubaydullo NZubaydov, who called on him.

CASA-1000 project willtransmit 1000 MW of surpluselectricity from Tajikistan andKyrgyzstan to Pakistan withpower transit throughAfghanistan.

The total length of transmis-sion line is 750 KM while theproject is planned to be onPublic Private Partnership basiswith the support of WB, IFC,ADB and IDB. The Project costis estimated around $865 mil-lion.

The Minister stated that thePakistan was committed tocarry out all projects leading toovercome the electricity short-age in the country and stressedthe need to further explore newavenues by private sector ofboth the countries for mutuallybeneficial cooperation in allfields particularly in thedomain of economy, energy,trade and infrastructure.

The respect and love forPakistan expressed by the TajikPresident Emomali Rahman,which was visible during hisrecent visit to Pakistan, wouldfurther cement the existingrelations between the twocountries, he added.

See # 4 Page 11

Dronekills 5 in

Datta KhelPESHAWAR: At least fourpersons were killed in a missileattack in Datta Khel, an area ofNorth Waziristan Agency onWednesday.

According to a private TV,the drone targeted a vehicle inthe area.

At least three missiles werefired on the vehicle.

As a result, four persons werekilled while the vehicle com-pletely destroyed in the inci-dent. -NNI

Referenceregarding

UnificationBloc rejected

LAHORE: A defection refer-ence against 9 Unification Blocmembers was rejected onWednesday.

Rejecting the reference,Speaker Punjab AssemblyRana Muhammad Iqbal saidthat the members, againstwhom the reference was filed,could not be disqualified underthe Article 63 of theConstitution.

According to media reports,the speaker said that 46 out of81 members of PakistanMuslim League-Quaid (PML-Q) had elected Dr Tahir AliJaved as their parliamentaryleader so Zaheeruddin did nothave the majority to exercisethe rights of a parliamentaryleader.

Any PML-Q member neitherdeserted his party nor voted foranother party's candidate, thespeaker added.

PML-Q parliamentary leaderin the Punjab Assembly,Chaudhry Zaheeruddin, onThursday filed a defection noti-fication against 9 members ofthe Unification Bloc with thespeaker.

The nine members againstwhom the defection referencewas filed are, Dr Tahir AliJaved, Mian Ata MuhammadManeka, Tariq Mehmood,Chaudhry Arshad Jutt, NaseemLodhi, Saba Sadiq, FarhanaAfzal, Ayesha Javed and JoyceRufin. -Online

IAEA's safetymeasures onfor N-plants:

PakistanISLAMABAD: Pakistani sci-entist and Chairman PakistanAtomic Energy CommissionDr Samar Mubarak MandWednesday said Pakistan takesall safety measures under thesafeguards of IAEA's for itsnuclear reactors.

Talking to VOA, he said thecooling system of Japan'snuclear reactor is continuouslyout-of-order because of con-stant closure of power genera-tors and backup diesel genera-tors. Owing to which, the reac-tors are getting warm, headded.

He said radiation is leakingwhich is very dangerous andthe solid nuclear waste willflow in ocean or will spread onearth and will make it uselessfor years.

To a question about the safetymeasure of nuclear reactors inPakistan, he said that Kanupp issole nuclear plant which is situ-ated in the coastal area.

See # 2 Page 11

PSO to pay Rs138.6bn against Rs136bn credit