International

Egypt protests turn violent

CJ off to India for C'wealth law moot See on Page 12

Power blackouts in Pak kill growth, says ADB See on Page 12

*Crude Oil (brent)$/bbl 102.01

*Crude Oil (WTI)$/bbl 91.24

*Cotton $/lb 169.44

*Gold $/ozs 1,356.00

*Silver $/ozs 29.13

Malaysian Palm $ 1,247

GOLD (NCEL) PKR 37,321

KHI Cotton 40Kg PKR 12,325

Yearly(Jul, 2010 up to 3-Feb-2011)

Monthly(Feb, 2010 up to-3-Feb-2011)

Daily (3-Feb-2011)

Total Portfolio Invest (28 Jan-2010)

199.80

-0.95

2.22

3091

0.11

-1.55

0.84

-0.37

-0.60

1.18

0.40

SCRA(U.S $ in million)

Portfolio Investment

FIPI (4-Feb-2011)

Local Companies (4-Feb-2011)

Banks / DFI (4-Feb-2011)

Mutual Funds (4-Feb-2011)

NBFC (4-Feb-2011)

Local Investors (4-Feb-2011)

Other Organization (4-Feb-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (29-Jan-11)

Inflation CPI% (Jul 10-Dec 10)

Exports (Jul 10-Dec 10)

Imports (Jul 10-Dec 10)

Trade Balance (Jul 10-Dec 10)

Current A/C (Jul 10- Dec 10)

Remittances (Jul 10 - Dec 10)

Foreign Invest (Jul 10-Dec 10)

Revenue (Jul 10 Dec 10)

Foreign Debt (Sep 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Nov 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.38bn

14.61%

$10.98bn

$19.13bn

$(8.15)bn

$26mn

$5.29bn

$1.05bn

Rs 638bn

$58.41bn

Rs 5497.4bn

$323.6mn

-4.69%

4.10%

$1,051

175.08mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

18.08

2.00

1.70

11.62

PKR/Shares

111.04

154.43

42.71

36.30

39.68

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

26-Jan-2011

26-Jan-2011

26-Jan-2011

29-Nov-2010

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

04-Feb-2011

13.67%

13.71%

13.88%

14.00%

13.21%

13.61%

13.76%

14.13%

14.27%

14.22%

14.25%

14.27%

14.59%

14.78%

14.96%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 86.70 87.60

Canadian $ 85.80 86.80

Danish Krone 14.00 14.70

Euro 116.30 117.80

Hong Kong $ 10.90 11.00

Japanese Yen 1.034 1.060

Saudi Riyal 22.73 22.95

Singapore $ 66.60 67.60

Swedish Korona 12.00 12.10

Swiss Franc 85.60 86.20

U.A.E Dirham 23.23 23.48

UK Pound 137.30 138.80

US $ 85.65 86.00

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.97 87.17

Canadian $ 86.20 86.40

Danish Krone 15.62 15.66

Euro 116.45 116.72

Hong Kong $ 10.97 10.99

Japanese Yen 1.047 1.050

Saudi Riyal 22.77 22.82

Singapore $ 67.04 67.20

Swedish Korona 13.19 13.22

Swiss Franc 90.22 90.43

U.A.E Dirham 23.48 23.53

UK Pound 137.78 138.11

US $ 85.42 85.60

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

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Ghulam Raza Rajani

KARACHI: The oil consump-tion in the country posted adecline of 3.4 per cent asshowed by Oil CompanyAdvisory Committee (OCAC)numbers for 7MFY11.

The total volume of the POLproducts (ex non-energy) wasrecorded 11.3 million tonnes in7MFY11 against 11.7 millionin 7MFY10.

Major reason behind thisdecline in sales is lower dieselconsumption which decreasedby 9 per cent YoY to 4 milliontonnes during 7MFY11. Thedemand of diesel, which con-tributes 35 per cent to total oilconsumption for it's a trans-

portation fuel, chilled due to aslowdown in trading activitiesamid floods. Similarly, sale offurnace oil (FO) --the heavy-weight product with 44 per centshare in overall oil consump-tion-- reduced by 3 per centYoY to 5 million tonnes.Interestingly, petrol consump-tion continued to show a risingtrend, up 18 per cent to 1.3 mil-lion tonnes on account of per-sistent CNG shortage.

As per the research analyst ofTopline Securities, companywise data shows that PSO sold7.3 million tonnes of oil prod-ucts, down 11 per cent YoYwhereas sales of Shell and APLincreased by 22 per cent and

See # 10 Page 11

Oil sales down3.4pc in 7MFY11

ISLAMABAD: FederalMinister for Finance andEconomic Affairs, Dr AbdulHafeez Shaikh Friday presidedover a meeting of the ChiefSecretaries of the fourprovinces, Gilgit-Baltistan, andAzad Jammu and Kashmir on'Flood Response, Cash Transferto the Flood Affectees-2010'.

The meeting deliberated onthe amount of federal andprovincial co-financing, benefit amount perfamily, amount per tranche,number of tranches, mecha-nism to deal with fresh applica-tions, closing dates for ongoingand fresh registrations and out-line for the operational manualthat will guide the implementa-tion.

The minister while address-ing the meeting emphasised onthe implementation of plan forthe compensation of flood vic-tims, and urged the provincesto strengthen the system, as thisis a model of collaboration ofvarious national and interna-

tional agencies. On the abovementioned

issues Chief Secretariesdetailed on how far theirrespective sides have complet-ed the first phase of the pay-ment of Rs20,000 per family.

Payment of Rs80,000 perfamily as pledged by the gov-ernment was also discussed inthe light of the finances avail-able in this regard.

A workable and practicalmechanism to deal with freshapplications for compensation,closing dates for ongoing andfresh registration, and the crite-ria of complete damage, partialdamage of houses in the affect-ed areas and vulnerability, werediscussed at length.

The Chief Secretary Punjabinformed that they have closedthe rehabilitation centers afterattaining the target of distribut-ing the Rs20,000 per family inthe first phase, and in the lightof the criteria settled hereafter,they will move ahead.

See # 7 Page 11

Shaikh stresses fastflood-compensations

PIA told to take solid restructuring stepsKashmirSolidarity

Day will bemarked todayISLAMABAD/ MUZAF-FARABAD: The nation wouldobserve Kashmir Solidarity daywith zeal and zest today(Saturday) while the govern-ment has announced publicholiday in this connection.

All preparations are afootacross the country and AJK toobserve "Kashmir SolidarityDay" on Saturday February 5 toreiterate full solidarity with thepeople of Indian-occupiedKashmir in their just and prin-cipled struggle for freedomfrom unlawful Indian subjuga-tion and to reach to the ultimatedestination of achieving rightto self determination.

The entire nation and the peo-ple of Jammu and Kashmir liv-ing on both sides of the line ofcontrol besides rest of theworld will join hands onFebruary 5, to raise voice forthe right of self determinationfor their brothers and to support

See # 12 Page 11

Special Correspondent /Agencies

ISLAMABAD: A meeting ofCentral Executive Committeeof Pakistan Peoples Party washeld here on Friday at Aiwan-e-Sadr with President Asif AliZardari in the chair to discussthe political situation with par-ticular reference to trimmingdown the size of the cabinet.

Briefing media Spokespersonto the President FarhatullahBabar said that the CEC meet-ing has authorised PrimeMinister Syed Yousuf RazaGilani who was also present inthe meeting to dissolve the cab-inet and reappoint a smallercabinet with fewer ministersenjoying reputation of integrity,competence, and efficiency inconsultation with coalition part-ners.

The decision was taken afterthe Co-Chairman invited CECmembers' comments on hisintention to have a "lean andabove the board cabinet". Allthe ministers, advisors, specialassistants and those holding

rank of state ministers willcease to hold offices on a dateto be decided by the PrimeMinister in consultation withcoalition partners and under theguidance and advice of theParty's Co-Chairman PresidentAsif Ali Zardari. New cabinetministers will be appointedsoon thereafter in batches, itwas further decided,Farhatullah Babar said.

Speaking on the occasion thePresident touched upon a num-ber of issues ranging fromprogress on investigation in theassassination of ShaheedMohtarma Benazir Bhutto, and

a broad overview of perform-ance of government and thecabinet during the last threeyears and strategy to revitaliseeconomy in view of mountingeconomic pressures. ThePresident said that he will con-tinue to play the role of a guideto the Party and the govern-ment.

The President said the PrimeMinister has already made theposition of the governmentclear on the blasphemy law onthe floor of the House. He saidthat the Prime Minister has alsoinvited the religious

See # 13 Page 11

Cabinet to goanytime soon

PPP CEC gives final go-ahead to Gilani to break Cabinet

Prime Minister says reconciliation solution to many problems

LONDON: Simon Clements, the head of the special crime unit at Britain's Crown Prosecution

Service announces charge against three Pakistani cricketers in London.-Reuters

Davis didn'tpull triggerin defence,probe says

LAHORE: An investigationteam Friday submitted its pre-liminary report to the govern-ment of Punjab over RaymondDavis firing incident inLahore.

The probe team comprisesCCPO Lahore Aslam Tareen,SSP Investigation ZulfiqarHameed and SP Civil LinesCaptain Liaquat.

The report said that the USnational Raymond Davis nei-ther opened fire in his defencenor he was a diplomat, addingthe security agencies were notaware of his visit to the inci-dent-site.

Sources said that the peopleand the vehicle that rushed tohelp Davis were not yet hand-ed over to the police and theUS consulate in Lahore is notcooperating despite severalletters written to the missionfrom the provincial govern-ment.-Agencies

LONDON: British prosecutorsFriday charged three Pakistanicricketers with taking bribes tofix incidents in an internationalmatch in England last year.

Salman Butt, MohammadAsif and Mohammad Amir areaccused of fixing certain inci-dents, such as the bowling ofno-balls at pre-agreed times,during the fourth test at Lord'slast August.

Britain's Crown ProsecutionService said the trio, along witha fourth man, sporting agentMazhar Majeed, had been

charged with conspiracy toobtain and accept corrupt pay-ments and with conspiracy tocheat.

"These charges relate to alle-gations that Mr Majeed accept-ed money from a third party toarrange for the players to bowl`no balls' on 26 and 27 August2010, during Pakistan's FourthTest at Lord's Cricket Groundin London," said SimonClements, head of the CPSSpecial Crime Division.

He said Majeed had been See # 11 Page 11

Charges pinned onSalman, Amir, Asif

UK prosecutors push spot-fixing case ahead

Bookie Majeed too faces conspiracy charges

ISLAMABAD: PakistanPeoples Party's decision to dis-solve the cabinet to makeOpposition happy is unlikely tohelp win support for wholesaleeconomic reform as demandedby the IMF, experts said Friday.

But the faction continues tooppose plans to imposeReformed General Sales Tax(RGST) -- a key condition ofthe International MonetaryFund for continued financialaid.

Pakistan's already feebleeconomy was battered by dev-astating floods last year thatinflicted nearly $10 billion indamage. Foreign aid has beenslow in coming, in part becauseof concern about the govern-ment's ability and willingnessto implement financial reform.

Pakistan's main financialproblem is a chronic lack of taxrevenue. The country taxesonly about 10 per cent of itseconomy, one of the lowest tax-

to-GDP ratios in the world.The IMF says widening the

tax base and implementing theRGST is key for securing thenext tranche of an $11 billionemergency loan, which haspropped up Pakistan's economysince 2008.

"The government thinks thatif they demonstrate they arereducing expenditure (byreducing the cabinet) they canmobilise support for the(RGST)," said Hasan AskariRizvi, an independent politicalanalyst.

But the PML-N says Gilani ismaking too many concessionsto international donors. Despitethe planned cabinet reduction,the prospects of passing theRGST seem more remote thanever.

The PML-N has alsodemanded a 30 per cent cut inspending, the removal of cor-rupt officials and a plan to con-trol inflation.-Reuters

RGST accorda far cry so far

Axing cabinet may not win RGST support: experts

Pakistan

Post off

selloff listISLAMABAD: Minister forPrivatisation Senator WaqarAhmad Khan has told theUpper House that PakistanPost is not being privatisedand its sacked employeeshave also been reinstated. Senator Professor KhurshidAhmad, Professor Ibrahim,Aafia Zia and Senator AzamSwati piloted an adjourn-ment motion in Senate onFriday. Professor Khurshidsaid he had learnt throughmedia reports that govern-ment is planning to privatisePakistan Post. Replying to the questionSenator Waqar stated thatPakistan Post was a vitalnational asset and a profitearning entity, therefore, thereports about its privatisa-tion were a source of graveconcern.

See # 8 Page 11

HYDERABAD: Wheat crop inSindh is anticipated to fall shortby 25 per cent against thisyear's harvest target as thewater the province receivedwas less than its due share forRabi crops.

A meeting of Sindh Chamberof Agriculture (SCA) hereFriday taking note of the mattercalled upon Indus River SystemAuthority (IRSA), the federaland the provincial governmentsto ensure that the province wasprovided its due share of water.

The meeting, presided overby SCA’s President Dr SyedNadeem Qamar, also protestedover the release of toxic waterfrom Manchar Lake into theIndus at a time when the riverflow was ebbing.

"With large quantities of tox-ins being dumped in the river,the water is fast becomingharmful for human consump-tion," it observed.

Participants also expressedfears of loss to the sugarcanecrop if the province continuedto receive reduced water supplyfrom IRSA. The conclave of thegrowers on the occasion passeda resolution calling for constan-cy in Sindh's water quota andincrease in the supply from theongoing Rabi allocation so thatthe wheat crop could be irrigat-ed adequately before the har-vest begins.

The participants of the meet-ing expressed concern over thenon-rehabilitation of embank-ments, canals and regulatorsdamaged by the recent floods."The growers of KhairpurGambho, Kot GhulamMuhammad and Naunkot sub-divisions getting water fromRohri and Nara canals' wouldsuffer great financial losses incase the irrigation infrastructureis not restored before Kharif,"they observed.-Agencies

Sindh mayn’t reapits targeted wheat

All in placeto retrievePakistanisfrom Egypt

ISLAMABAD: Family mem-bers of Pakistan nationalstrapped in strife-torn Egypt aremuch worried over the lack ofarrangements on the part ofgovernment for their evacua-tion.

However Foreign Office(FO) spokesman Abdul Basitsaid two special flights wouldbe sent within 24 hours to bringback diplomatic staff andPakistani nationals from Egypt.

As per media reports theentire system has been paral-ysed in all the major cities ofEgypt following the eruption ofriots and clashes between proand anti government elements.Therefore, a large number ofPakistanis have been strandedand they have not succeeded toreturn home despite their all-out efforts.

The family members of thesePakistani nationals were of theview that Pakistan embassy inEgypt was not cooperating withthem.

They have demanded of thegovernment to make specialarrangements for evacuation oftheir near and dear ones ratherthan relying on national air-lines.

A statement issued here byministry of foreign affairs saidspecial plane would reachCairo to bring back the trappedPakistanis. Pakistan embassy ismaking arrangements in collab-oration with Egyptian authori-ties in this regard. On the other

See # 9 Page 11

PM consults political leaders ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talkedto the leaders of various political parties over telephone onFriday evening for consultation over reducing the size of theFederal Cabinet in accordance with austerity measures beingtaken in the wake of economic difficulties.

The Prime Minister talked with PML (N) leader Mian NawazSharif, Quaid PML (F) Pir Syed Mardan Shah of Pagaro, , QuaidMQM Altaf Hussain, President ANP Asfand Yar Wali, Amir JUI(F) Maulana Fazal ur Rehman, and the Leader of FATAParliamentarians Munir Khan Orakzai.-NNI

Karachi, Saturday, February 5, 2011, Rabi-ul-Awwal 1, Price Rs12 Pages 12

See on Page 12

Qaim commandsnew investments

2 Saturday, February 5, 2011

ISLAMABAD: PrimeMinister Syed Yusuf RazaGilani has constituted aCommittee to be headedby Senator Mian RazaRabbani to restructure andre-define the role of theFederal Vocational andTechnical TrainingInstitutions in the light of19th Amendment to theConstitution.

The Committee willcomprise inter alia, of MsShahnaz Wazir Ali,Special Assistant to thePrime Minister, FederalSecretary for Labour andManpower, SecretaryOverseas Pakistanis andExecutive DirectorNAVTEC.

The Committee will pro-pose a well-defined planfor training and skillsdevelopment of the labourforce in the country. Itwill also address issues ofcapacity of the federalinstitutions and proposemeasures to developnational skills standardswhich are accepted inter-nationally.

The Prime Minister waschairing a SpecialMeeting on Vocationaland Technical TrainingProgrammes at PM'sHouse here on Friday.

The Prime Ministerwhile elaborating hisvision to reduce unem-ployment in the country

said that 60% of youngpopulation is our asset andneed to be utilized for thebenefit of the country.

This human resource, hesaid, when properlytrained and equipped withrequisite skills can greatlyhelp to increase produc-tion of both the agricultureand industrial sectors.Similarly, he addedtrained manpower whenexported can immenselyadd to the foreign remit-tances.

While expressing hisconcern for increasingpercentage of unemploy-ment, the Prime Ministersaid that he is seriouslyconsidering of forming a

separate Ministry forHuman ResourceDevelopment. This envi-sioned Ministry, he said,could have an overarchingrole ensure proper con-sumption of trainedhuman resource bothwithin the country as wellas abroad.

The Prime Minister saidthat while Pakistan isannually sending overthree hundred thousandworkers abroad, most ofthem are unskilled orsemi-skilled. The samemanpower, he added,when trained andequipped with skills couldincrease the remittancesby three times.-NNI

Ministry of HRdevelopment in offing

TFD Report

KARACHI: PakistanInstitute of CorporateGovernance (PICG)recently hosted a delega-tion from Corporate SocialR e s p o n s i b i l i t yDevelopment Center(CSR-DC), Iran for astudy tour to Pakistan.CSR-DC intends to intro-duce principles of goodcorporate governance inthe Iranian corporate sec-tor and for this reason hadapproached PICG forassistance in capacitybuilding.

According to a pressrelease issued here onFriday, the Study Touraimed at providing the del-egation the opportunity tomeet and interact withprominent businesses andcorporate leaders who have

helped implementation ofgood governance practicesin their respective organi-zations. Keeping in mindthe instrumental role of theInstitute in initiating andimplementing corporategovernance in Pakistan,Institute of CharteredAccountants of Pakistan(ICAP) member and thePresident of PICG FuadAzim Hashimi arrangedfor the delegation to visitICAP as a part of the StudyTour.

The delegation compris-ing representatives fromBusiness Sectors, Privatesectors, NGOs andAcademia visited ICAPrecently. The delegationmet with the PresidentSaqib Masood, VicePresident Zahid Bhatti,Council members KhalidRahman, Yaqoob Suttar,

Nadeem Yousuf Adil andthe Secretary andDirectors of the Institute.

Saqib Masood wel-comed the guests andexpressed his appreciationfor the efforts of the CSR-DC. He highlighted theimportance of good gover-nance citing it to be thepropeller to robust eco-nomic and business envi-ronment and gave a pres-entation about theInstitute, its functions andworking and the achieve-ments. Khalid Rahmangave a presentation on ini-tiatives taken onCorporate SocialResponsibility followedby an active question andanswer session. SaqibMasood assured the dele-gation of support andcooperation from ICAP infuture.

Iranian delegationvisits ICAP

I S L A M A B A D :Information ministerQamar Zaman Kaira hasurged India to lend ears toworld demand for resolu-tion of Kashmir issue.

Kaira was talking tomedia men outsideParliament House Friday.He went on to say the sac-rifices rendered by peopleof Kashmir would bearfruit.

"We want a lasting and

equitable solution toKashmir problem. Thewhole nation is withKashmiris in their struggleand India can not dampenthe spirit of people ofKashmir as this spirit isbased on non violence", heremarked.

No party was enjoyingmajority in the present par-liament, he said addingparliament was function-ing in better way.

Legislation process ismoving ahead on fast trackbasis, he held.

He said interior ministerA Rehman Malik was ahard working and talentedperson and he was dis-charging his obligations athis life's risk.

Government was fullyalive to the problems fac-ing the people and wastaking sincere steps to con-tain inflation.-Online

Kaira urgesIndia to resolveKashmir issue

I S L A M A B A D :Government has no inten-tions to hamper referen-dum of PIA rather it haslifted ban on trade unionsand initiated polls in vari-ous unions which werebanned for 14 years.

"No one should doubt asif we are going to bar PIA'sreferendum...it would beheld," Chief Whip of PPPin the National AssemblySyed Khurshid Shah saidon Friday.

Shah was allaying con-cerns expressed byOpposition LeaderChaudhry Nisar Ali Khan,who alleged the govern-ment was reluctant to holdreferendum in PIA.

He spelled out firmresolve of the governmentto promote trade unionsand referendum of differ-ent institutions.

"Government has notissued anynotification...there is no

security issue (for the ref-erendum)," he added.

Shah attributed the noti-fication barring referen-dum to the management ofPIA, but clearly mentionedGovernment had nothingto do with that. Earlier,Chaudhry Nisar Ali Khanpointing to a notificationexpressed fear that govern-ment was stepping backfrom its stance of beingsupportive of the labour-ers.-APP

No ban on referendumin PIA: Khurshid Shah

Staff Correspondent

LAHORE: ChairmanPakistan Industrial andTrade Associations Front(PIAF) Sohail Lashari hasurged the government todeclare 2011 as the year ofpower generation and initi-ate work on mega waterprojects.

In a statement here onFriday, Sohail Lashari saidthat the Federal CommerceMinister has taken a wisestep by coming up with aframework to boost toexports but his decisionwould only work if hetakes the business commu-nity into confidence overthe planned measures.

He said that the businesscommunity has the capaci-ty and ability to jack up thevolume of exports to thestaggering figure of $50

billion provided they aregiven the required anddesired opportunities andinfrastructure.

Giving a roadmap for therevival of economy foryear 2011, he urged thegovernment to use allavailable resources andmotivate all segments ofthe society for turning theeconomy around. He saidthat power outages, repeat-ed hikes in petroleumproducts, electricity rates,gas shortage and unprece-dented increase in dailyuse items had disturbed thewhole business atmos-phere and a wholesomeapproach is direly neededto cope with the situation.

To overcome the energyshortage, the PIAFChairman said that thegovernment would have toadopt the alternate means

of energy generationbesides initiating work onthe construction of waterreservoirs.

He said that the countrycould be self sufficient forpower generation throughsolar means. Therefore,the government shouldcome up with a package ofincentives so that maxi-mum number of peoplecould be able to use solarequipments.

"Unless and untildependence on thermalpower is curtailed, thereare hardly any chances ofeconomic revival and pre-cious foreign exchangewas being spent on oilimport," he added. ThePIAF Chairman alsostressed the need for bring-ing down the rate of infla-tion that has now startedtaking its toll.

PIAF gives roadmapfor revival of economy

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to Governor Punjab Sardar MuhammadLatif Khosa who called on him at PM’s House.-Online

ISLAMABAD: Dr Abdul Hafeez Shiekh, Federal Minister for Finance chairing the meeting with ChiefSecretaries regarding flood response cash transfer to the flood affectees.-APP

PIA told toimprovefood onboard

ISLAMABAD: SenateStanding Committee onCulture and Tourism hasdirected PakistanInternational Airline(PIA)to improve the standard ofentertainment programs andfood quality in its flights.The commitee meeting heldhere was chaired by SenatorNilofar Bakhtiar.

Senator MuhammadKazim Khan, SenatorSalahuddin Doger, SenatorAbdul Khaliq Pirzada andSenator Pervaiz Rashid alsoattended the meeting.

The committee said thatthe food being providedduring the flights does notmeet International standardwhich needs to be improvedon immediate basis.-APP

KARACHI: Photo shows Saqib Masood, President, Institute of ChartedAccountants of Pakistan and ICAP Council Members with the delegationof Corporate Social Responsibility Development Center, Iran.-Staff Photo

Staff Reporter

KARACHI: YousafNasseem Khokar, the newlyappointed Chief ExecutiveOfficer (CEO) of the Smalland Medium EnterprisesDevelopment Authority(SMEDA) held a meetingwith the Union of Small andMedium Enterprises(UNISAME) mentors com-mittee (MC) to get first handinformation about SMEissues at a local club.

President UNISAMEZulfikar Thaver , Ali RahimPresident Tax BarAssociation, Arjumand QaziCEO of SME Leasing and

Atiqua Vally of OrixLeasing highlighted theSME issues of shortage ofenergy, harsh taxation, wors-ening law and order situa-tion, corruption, lack ofincentives and financialfacilities, poor logistics andlack of co-ordinationbetween SMEDA , PCSIR,Engineering DevelopmentBoard (EDB), TDAP andTCP and urged SMEDA toplay a proactive role andadvocate the cause of thesector vigorously.

The union chief and theparticipants urged the CEOSMEDA to put on fast trackthe formation of SME

Chamber of Commerce andthe SME Liaison Committee(SMELC) on the pattern ofthe Citizen Police liaisonCommittee (CPLC) for thebenefit of the sector to bemanaged by SMEDA andthe SME associations jointlyto curb corruption and expe-dite industrial growth.

He said the State Bank ofPakistan is making efforts topromote Islamic Bankingand the SMEs expect to befacilitated for short term andlong term finance by theIslamic banks very soonunder the different Islamicmode of financing best suit-ed for the SMEs.

SME issues to be tackledon fast-track basis

Staff Reporter

KARACHI: EmiratesAirline has marked its 110thinternational destinationwith its inaugural flight toBasra, the airline's first serv-ice into Iraq.

According to a pressrelease issued on Friday,Emirates Airline is thelargest international carrierto operate services into Iraq,helping link the country tothe rest of the world throughits convenient connectionsin Dubai.

Basra is the first new des-

tination for Emirates in2011 with Geneva to launchon 1st June, followed byCopenhagen on 1st August.

At the launch of the newdestination, Badr Abbas,Emirates Vice President forPakistan and Afghanistannoted that the demand forflights to Iraq was growingamid signs of an economicrecovery in that country.

He said, "As foreign firmsset up operations in thecountry there is a high pro-portion of traffic headingboth in and out of Iraq,especially Basra, and we are

well positioned to capitalizeon this demand. The intro-duction of Emirates' flightsto Basra offers convenientconnections to Pakistaniswith business interests inIraq."

He added that 'Emirates'convenient flight times andshort connection timesmake us an excellent choicefor corporate travelers toBasra.

It has been a strong yearof growth for Emirates andthis announcement is furtherproof of our robust expan-sion plans, he said.-NNI

Emirates Airlines firstflight arrives in Basra

LCCIamnesty

scheme formembersStaff Correspondent

LAHORE: TheManagement of the LahoreChamber of Commerce andIndustry Friday announcedAmnesty Scheme 2011 forits Corporate and AssociateClass members who havediscontinued their member-ship after 2005.

According to LCCIspokesman, all the business-men/ business houses thatwere members of theLahore Chamber ofCommerce and Industry in2004-5 and could not gettheir membership renewedafter that, now can get LCCImembership renewed up toDecember 31, 2011 bydepositing a single fee i.e.Rs4,100/ for Corporate classand Rs1,600/- for AssociateClass instead of paying feefor all the previous years.

The LCCI PresidentShahzad Ali Malik, SeniorVice President SheikhMohammad Arshad andVice President Sohail Azharin consultation with theExecutive Committee havetaken this decision tostrengthen the LCCI bybringing more and morebusinesses into mainstreamso that the Lahore Chamberof Commerce and Industrycould be able to play its rolefor stability of the economy.

Biztek toparticipatein edu expo

TFD Report

KARACHI: Institute ofBusiness andTechnology- Biztek, willbe participating in theDawn Education Expo onFeb 6-7 at the KarachiExpo Center. The purposeof this participation is toget the prospective stu-dents, their parents andthe general public to getto know about Biztek'sacademic activities andinteract with the staff andpresent students. It is anexcellent opportunity forpotential students to learnabout new programsbeing offered, theresearch and developmentactivities taking place andthe new state-of-the-artcampus that Biztek has tooffer, which makes it amodel institute forPakistan. Biztek has beenin the education industryas a top-ranking W cate-gory institute as per theHEC criteria. It has morethan 2500 students cur-rently enrolled at the 4campuses.

WorldCancer Day

observedTFD Report

KARACHI: World CancerDay was observed by SindhInstitute of Urology andTransplantation (SIUT) atHanifa Suleman DawoodOncology Centre on Friday.Prof. Adibul Hasan Rizvi,Director SIUT, inauguratedthe World Cancer Day andnarrated the history of devel-opment of oncology centre.

He thanked DawoodFamily and other donorswho donated the HanifaSuleman Dwood OncologyCentre. He said since westarted urology, we startedtreating patients with renal,bladder, prostate and testicu-lar cancers. Since last fouryears we started separateHanifa Suleman DawoodOncology Centre.

TV PROGRAMMES

TUESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya

ke Sath

11:00 News

11:30 Hal Kya Hai (Rpt)

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With

Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

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

ZURICH: The Swiss francfell against the euro onFriday as investors turnedtheir focus to strong euro-zone economic fundamen-tals from dashed hopes of apossible European CentralBank rate hike in comingmonths.

The euro was on the defen-sive on Thursday after ECBPresident Jean-ClaudeTrichet poured cold water onexpectations for a near-termrate hike, wrong footingbulls who had expectedmore tough talk on inflation.

"All the lead indicators arepointing to a very robusteconomy in euro land andPMI services have risen notjust in the core but also onthe periphery of euro landand this has boosted confi-dence in the euro," Sarasinanalyst Ursina Kubli said.

The franc was down 0.1per cent against the eurocompared to the New Yorkclose, trading at 1.2905 pereuro at 0825 GMT. Thefranc 0.1 per cent loweragainst the dollar at 0.9465per dollar.-Reuters

Swiss franc declines onbetter EU fundamentals

3Saturday, February 5, 2011

Currencies Rate

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 04/02/2011

A USD GBP CAD EUR JPY

O/N 0.23690 0.55688 0.95833 0.35125 SN 0.10938

1WK 0.25300 0.57313 1.00000 0.83000 0.11625

2WK 0.25800 0.57813 1.03583 0.84000 0.11813

1MO 0.26275 0.60438 1.08000 0.85250 0.13000

2MO 0.28700 0.67188 1.14750 0.90875 0.15563

3MO 0.31150 0.79188 1.20917 1.03375 0.19000

4MO 0.34975 0.87125 1.27583 1.09875 0.24313

5MO 0.40800 0.97500 1.34000 1.18250 0.30000

6MO 0.46125 1.09500 1.40667 1.27625 0.34625

7MO 0.51500 1.17350 1.49333 1.33125 0.39375

8MO 0.56700 1.26000 1.56667 1.38875 0.44188

9MO 0.62300 1.34313 1.63083 1.44625 0.48750

10MO 0.67550 1.42188 1.72250 1.49625 0.51438

11MO 0.73030 1.49000 1.80583 1.54625 0.54125

12MO 0.79125 1.55875 1.90000 1.60500 0.56750

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

U.S.A. 85.60 85.40 85.22

U.K. 138.11 137.78 137.47

EURO 116.72 116.45 116.17

CANADA 86.40 86.20 85.97

SWITZERLAND 90.43 90.22 89.99

AUSTRALIA 87.17 86.97 86.74

SWEDEN 13.22 13.19 13.15

JAPAN 1.05 1.05 1.04

NORWAY 14.92 14.88 14.84

SINGAPORE 67.20 67.04 66.86

DENMARK 15.66 15.62 15.58

SAUDI ARABIA 22.82 22.77 22.71

HONG KONG 10.99 10.97 10.94

CHINA 13.06 13.03 12.99

KUWAIT 326.03 325.27 324.42

MALAYSIA 28.13 28.06 27.99

NEW ZEALAND 66.22 66.07 65.89

QATAR 23.53 23.48 23.42

U.A.E. 23.31 23.25 23.19

KR WON 0.08 0.08 0.08

THAILAND 2.78 2.77 2.76

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3562 1.3565 1.3675 1.3547

USD-CHF 0.9566 0.9570 0.9572 0.9453

GBP-USD 1.6058 1.6062 1.6171 1.6039

USD-CAD 0.9868 0.9872 0.9930 0.9833

AUD-USD 1.0174 1.0178 1.0199 1.0142

EUR-JPY 111.0200 111.0600 111.5000 110.7900

EUR-GBP 0.8447 0.8450 0.8477 0.8426

EUR-CHF 1.2978 1.2983 1.2992 1.2882

GBP-JPY 131.4400 131.5000 131.9400 131.0200

CHF-JPY 85.5100 85.5700 86.3500 85.4800

Gold 1356.4000 1357.4100 1357.9800 1346.5000

As per 22.00 PST

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.25 12.30 12.30 12.20 12.25 12.25 12.26

8-15dys 12.55 12.70 12.60 12.60 12.65 12.65 12.63

16-30dys 12.70 12.80 12.75 12.70 12.90 12.80 12.78

31-60dys 13.04 13.05 13.05 13.05 13.10 13.15 13.07

61-90dys 13.34 13.32 13.37 13.38 13.25 13.38 13.34

91-120dys 13.48 13.50 13.45 13.49 13.45 13.50 13.48

121-180dys 13.50 13.56 13.54 13.58 13.50 13.58 13.54

181-270dys 13.60 13.65 13.66 13.66 13.60 13.65 13.64

271-365dys 13.72 13.74 13.76 13.70 13.70 13.75 13.73

2-- years 14.05 14.10 14.08 14.00 14.05 14.00 14.05

3-- years 14.15 14.25 14.23 14.23 14.22 14.22 14.22

4-- years 14.18 14.25 14.24 14.25 14.22 14.20 14.22

5-- years 14.22 14.28 14.25 14.26 14.23 14.23 14.25

6-- years 14.23 14.30 14.29 14.28 14.30 14.27 14.28

7-- years 14.24 14.30 14.32 14.30 14.35 14.33 14.31

8-- years 14.25 14.25 14.25 14.30 14.23 14.26 14.26

9-- years 14.26 14.15 14.20 14.20 14.20 14.21 14.20

10--years 14.27 14.26 14.27 14.29 14.25 14.29 14.27

15--years 14.60 14.45 14.60 14.65 14.55 14.70 14.59

20--years 14.80 14.60 14.78 14.90 14.75 14.85 14.78

30--years 14.90 14.75 15.00 15.10 15.00 15.00 14.96

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

Source Events Actual Forecast Previous

CNY Bank Holiday

GBP Halifax HPI m/m 0.8% -0.2% -1.1%

EUR Italian Prelim CPI m/m 0.4% 0.3% 0.4%

CAD Employment Change 69.2K 18.9K 30.4K

CAD Unemployment Rate 7.8% 7.6% 7.6%

USD Non-Farm Employment Change 36K 138K 121K

USD Unemployment Rate 9.0% 9.5% 9.4%

USD Average Hourly Earnings m/m 0.4% 0.2% 0.1%

CAD Ivey PMI 41.4 53.4 50.0

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

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

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

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

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

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

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

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

Major Central Banks Overview

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

NEW YORK: The dollar rose against theeuro on Friday after the US jobless ratefell to its lowest level in nearly two years,and traders said a brightening US eco-nomic outlook may help it extend gains inthe weeks ahead.

The euro fell as low as $1.3544, andtraders said a break through firm supportat $1.3570 suggested a three-week eurorally may be showing signs of exhaustion.

The euro was last 0.4 per cent lower at$1.3577, headed for its first three-daydecline in more than a month.

"We haven't seen a three-day slide sincethe euro's January rally began, and it waslooking overbought this week, so weseem to be in correction mode," said BNPParibas technical strategist AndrewChaveriat, adding the euro could test

$1.35 in coming days and $1.3250-$1.3350 over the next few weeks.

The euro peaked this week at $1.3862,the highest innearly threemonths, but slidafter theE u r o p e a nCentral Bankcooled expecta-tions for a near-term hike ineuro-zone interest rates.

Recent US data, capped by the joblessrate's slide to 9 per cent from 9.4 per cent,pushed up US yields and had marketspricing in a two-in-three chance of a USrate hike by year end, up from one inthree a week ago.

With the rate differential shifting in thedollar's favor, the greenback also rose 0.4per cent to 81.99 yen and 1.1 per cent to

0.9555 Swiss francs.Trading on electronic trading platform

EBS posted an unofficial volume recordwith 2,990 foreign exchange tradesrecorded in the minute after the release ofthe jobs data. Some 12,000 deals wererecorded in the 10 minutes after the

release. Records become official 24 hoursafter they're set.

If the euro closes below $1.3570, Dolansaid a move to $1.33 was possible in theweeks ahead. The next downside targetwas around $1.3526, the 100-day simplemoving average.

Despite recent stronger-than-expecteddata on US factory and service sectoractivity, some analysts say the marketmay be getting ahead of itself. Dan Cook,senior analyst at IG Markets in Chicago,noted US employers added a paltry36,000 jobs in January, though badweather may have had an impact.

"These numbers are not supportive ofthe dollar," he said. "They mean the Fedis going to stay around. Look for someprofit-taking." -Reuters

Greenback rallies asUS jobless rate slips

MOSCOW: The Russian rou-ble eased from the previousday's 9-month peaks on Friday,tracking a retreat in oil pricesbut still on track for its bestweekly showing since Maythanks to crude prices topping$100.

By 0816 GMT, the roublewas down 0.2 per cent on theday at 29.44 per dollar, movingaway from the 29.27 mark setthe previous day but still up 1.2per cent on the week.

Brent crude oil lost morethan $1, but remained at histor-ically high levels of nearly$102 a barrel, promising high-er budget revenues andstronger economic growth forRussia, the world's top crudeproducer.

Against the basket of 0.55dollars and 0.45 euros, used toguide the exchange rate policy,it eased to 34.24, holding atlevels where dealers say thecentral bank carries out small-scale daily dollar purchases.Beyond 34.00, such interven-

tions are expected to beincreased.

"It is possible that marketparticipants will become morecautious as we approach levelswhere the central bank couldbuy more foreign currency,constraining the rouble," saidMikhail Azizbayev, dealer atMetallinvestbank.

The rouble added 0.12 percent against the euro to 40.11,as the single European curren-cy came under broad pressureafter the ECB poured coldwater on expectations of anear-term interest rate hike.

In contrast, Russia's centralbank is clearly worried aboutsurging inflation and widelyexpected to tighten policy incoming months, boosting therouble's yield appeal.

Outside factors, high oilprices, and a pause in the euro'srally this month still speak inthe support of the rouble,Anton Zakharov,Promsvyazbank analyst, said ina note. -Reuters

Rouble retreats from9-mth peak as oil falls

SYDNEY/WELLING-TON: The Australian dol-lar soared to a one-monthhigh on the US dollarFriday and surged againstthe euro, as an upbeat out-look from the country'scentral bank led investorsto price in higher interestrates.

The Australian dollarsurged to a month-high at$1.0190, up 3 per cent inthe week, making theAussie the star performerof all the major currencies.

The currency, which wasalready flying high in earlytrade after an overnightrally, received anotherboost when the ReserveBank of Australia (RBA)played down the drag fromfloods and predicted stronggrowth at home and global-ly over the next couple ofyears, leading investors toprice in higher interestrates ahead.

Markets are now pricinga 38 basis points of tighten-ing in the next 12 months,up from 20 early this weekwhen Cyclone Yasi was

bearing down onQueensland. In the end,Yasi did less damage thanfeared and the rebuildingtask will only add togrowth going forward.

"Given that every majorcentral bank is looking tokeep rates on hold... thisadds to the appeal of theAussie," said David Scutt,a currency trader at ArabBank Australia.

He expects a rate hike inMay or June, and possiblyanother one later in theyear.

The RBA estimated thatwhile the recent floods inQueensland would trimgross domestic product(GDP) growth by around0.5 percentage points thisquarter, rebuilding wouldthen lift annual growth to arapid 4.25 per cent by year-end. The central bank leftits cash rate unchanged at4.75 per cent at itsFebruary board meetingthis week, having previ-ously hiked by 175 bpssince October 2009.-Reuters

Aussie dollarsurges to

1-mth highon upbeat RBA

MUMBAI: The rupee endedsteady on Friday as dollarinflows were offset by losses indomestic shares and a weakeuro, but US jobs data due laterthis evening was eyed for fur-ther cues.

The partially convertiblerupee closed at 45.5950/6050per dollar, little changed fromThursday's close of 45.60/61,after touching an intraday lowof 45.70.

"In the market there was someamount of inflows that aided therupee. Otherwise, it could havedeclined further," said RohanNaik, head of foreign exchangetrading at Standard CharteredBank in Mumbai.

Foreign institutional investors

bought Indian shares worth$145.04 million on Thursday,after being net sellers in the pre-vious five sessions.

Foreign investors have pulledout $1.35 billion from Indianshares this year until Feb. 3, onconcerns over high inflation.

On Monday the rupee isunlikely to fall beyond 45.75 perdollar, a broker with a state-runbank said, explaining that dollarinflows would support the unit.

Indian shares declined for thefourth week in five, shedding 2.4per cent in choppy trade onFriday, as worries of continuedhigh global oil prices worseningthe domestic inflationary pres-sures hit investor sentiment.

India's food inflation acceler-

ated for the second straight weekon rising prices of onions andpetrol, putting pressure on head-line inflation and reinforcingexpectations of more monetaryaction this year.

One-month offshore non-deliverable forward contractswere quoted at 45.78, weakerthan the onshore spot rate,indicating a bearish outlook forthe rupee. In the currencyfutures market, the most tradednear-month dollar-rupee con-tracts on the National StockExchange and the MCX-SXand the United Stock Exchangewere at 45.7500, 45.7500 and45.7575, respectively, with thetotal traded volume at $4.12billion. -Reuters

Indian rupee flats;US jobs data watched

LONDON: Sterling dipped onFriday, stumbling against abroadly rallying dollar involatile trade aftera fall in the USjobless ratep r o m p t e dinvestors to bookprofits on thepound's new yearrally against theUS currency.

The dollarjumped againstmost major currencies, bolsteredby climbing Treasury yieldsafter a fall in the unemploymentrate to 9 per cent last monthfrom 9.4 per cent in Decemberadded to the argument that theUS economy is recovering.

The pound relinquished earlygains made after a Halifax sur-vey showed UK house prices

unexpectedly rose 0.8 per centlast month, well above forecastsfor a flat reading.

"The slight pullback in Cablehas a lot more to do with the dol-lar and with interest rate differ-entials moving in the dollar'sfavour, than anything specific todo with sterling," said MichaelDerks, strategist at FXPro. Headded: "Those who have beenlong Cable in the first half of theweek made very good money, so

there's a paring back of thosepositions."

Some analysts said sterling'scorrection maycontinue intonext week assome investorsbelieve the cur-rency's rally inpast weeks ongrowing specu-lation for a UKinterest rate risemay have been

slightly overdone.But overall, market partici-

pants expect sterling to be sup-ported as solid UK economicdata this week and hawkishBank of England commentshave left may investors thinkingUK rates may rise from a recordlow 0.5 per cent, possibly bymid-year.-Reuters

Sterling dips on profittaking after US numbers

Longer-term outlook may still favour euro

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.

ResolveKashmir

issue beforeit is too lateThe recent upsurge in many countries is like-

ly to push Kashmir issue very low on the prior-ity list of those who control the UN and claimto be the champions of human rights. If theyhave some vested interest countries areattacked, regimes are toppled and countries aredivided. Otherwise nothing happens and noaction is taken against the country committingthe worst violation of human rights.

When the British Raj decided to quit the sub-continent they left may things undecided worstbeing Kashmir. The super power paved way forthe creation of Israel, allowed it to occupy areasof Muslim countries for nearly five decades,construction of settlements on the occupiedland. They played a major role in convertingEast Pakistan into Bangladesh and are nowbusy in execution of the plan to divide Sudan.However, they raise no voice against extremistsHindus who say, "We will not allow anotherdivision of India on the basis of religion whilereferring to plebiscite in Kashmir."

Kashmiries have been demanding for morethan six decades that they don't wish to liveunder Indian dominance. India alleges thatPakistan is supporting the freedom fighters andthe two countries have fought two wars, at leastin Kashmir. It is evident that India does notwish to let Kashmir become independent main-ly because of various rivers originating fromthere. India also wishes to keep area under itssurveillance to monitor movement of trafficbetween Pakistan and China via the Silk Route.

Over the years Both India and Pakistan havebeen trying to occupy the full area but lately thewhisper has got louder about creation of anindependent Kashmir. Ironically in certainareas Muslims have majority and some areashave Hindu majority. Therefore, the idea of aunified Kashmir becomes a permanent flashpoint and the division on the basis of religion isnot acceptable to Hindus. The situation hasbecome a major source of concern for the peacelovers because both India and Pakistan haveattained the status of 'atomic powers'. Both thecountries have accumulated tons of lethal con-ventional weapons and religious extremism ison the rise in both the countries. Till today theyhave been accusing each other of cross borderterrorism and the probability of counters onborders increases when the situation inKashmir becomes volatile.

These super powers attacked Iraq on the hoaxcall of weapons of mass destruction, invadedAfghanistan on the presence of Osama,changed regime in Tunis and are now workingfor the change of regime in Egypt. Have theyever realized that Kashmir and Palestine issuealso needs to be resolved? Apparently theyseem least bothered about these areas becausethese are human rights issue and nothing likecrude oil, precious metals or even opium ispresent at these two places.

4Saturday, February 5, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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 173

Hamid Waheed

Pakistan and America, the frontline coalition partners presentlyhaving maximum resources and

in future having optimum stakes in thewar against terror, continue to workunder an environment of increasingmistrust. Three stakeholders amongboth countries the government, thearmy and the people hoping for a bettertomorrow are pulled back to more con-fusion by daily happenings. An invisi-ble hand plays intelligent and uses ele-ments from within these stakeholders toincrease mistrust and achieve theiragenda. Whereas it is of importance forPakistan to be careful, the responsibili-ty mainly lies on the US to closely mon-itor its actions which have much largerimplication not only for Pakistan but forthe region and on the internationalforum. The perceptions are built on halftruths and are reinforced after failure totimely satisfy the three stakeholders.The terrorists derive their powerthrough unity and synergise theirefforts, whereas collation partners keepdistancing from each other in this battleof hearts and minds. Pakistan continuesto live in an atmosphere of workingrelationship with a partner who is moreof a boss. A boss which only has itsown objectives and goals to pursue andthe ethics and rule of game are there toonly benefit the boss. The recent inci-dent of killing of three Pakistani citi-zens by an American Raymond Davisliving in US embassy on short-termentry visa and handling of same by USembassy is not the first of its kind.

The US embassy has asked Pakistanto hand over Raymond Davis to US andprovide him with diplomatic immunity.Diplomatic immunity is a form of legalimmunity and a policy held betweengovernments that ensure that diplomatsare given safe passage and are consid-ered not susceptible to lawsuit or prose-cution under the host country's laws. Itwas agreed as international law in theVienna Convention on DiplomaticRelations (1961). Many principles ofdiplomatic immunity are now consid-ered to be customary law. Originally,

these privileges and immunities weregranted on a bilateral, ad hoc basis,which led to misunderstandings andpressure on weaker states. Variousinternational agreements known as theVienna Conventions codified the rulesand agreements, providing standardsand privileges to all states. It is possiblefor the official's home country to waiveimmunity; this tends to happen onlywhen the individual has committed aserious crime, unconnected with theirdiplomatic role. Alternatively, the home

country may prosecute the individual.Raymond Davis stated that he shot

and killed Pakistani citizens in selfdefence as they were poised to rob him.Self-defence has long been discussedand debated among international legalscholars. Although the text of Article 51explicitly provides only for "the inher-ent right of individual or collective self-defence if an armed attack occurs," overthe years, scholars have expanded therequired trigger for self-defence toinclude both when an armed attackoccurs and when an armed attack isimminent. The legal definition of"imminent" has grown out of an 1837incident in which British troopsattacked the ship Caroline, which UScitizens were using to take supplies toCanadian rebels fighting the British

rule. In a much-quoted analysis of theconfrontation years later, the then-Secretary of State, Daniel Websterargued that the use of force in self-defence is justified when the need foraction is "instant, overwhelming, andleaving no choice of means, and nomoment for deliberation." Webster'scriteria subsequently became the stan-dard in international law.

Moreover, shooting in self-defence islogical to bodily harm and make himineffective for some time. If you kill,

you will go to prison for eithermanslaughter or a second-degree mur-der. In the regional context such twist-ing of self defence was also applied inSeptember 2010 when NATO helicop-ters based in Afghanistan carried out atleast two airstrikes in Pakistan thatkilled more than 50 persons after theinsurgents attacked a small Afghansecurity outpost near the border. NATOjustified the strikes based on "the rightof self-defence." On issue of droneattacks a law professor at the Universityof Notre Dame, Mary Ellen O'Connell,argued that the drone strikes were com-pletely outside the law of self defence.Talking at a leading London think-tank'Chatham House Centre' she said thepursuit of al-Qaeda and Taliban extrem-ists should be a law enforcement issue,

not a military one. "The strongest con-clusion is that there is no legal right toresort to drone strikes in Pakistan,Yemen, Somalia and elsewhere wherethe US is not involved in armed con-flict." She was particularly critical ofstrikes by the US Central IntelligenceAgency in the north-western tribal zoneof Pakistan which borders Afghanistan.

Contrary to the above, in case of Dr.Aafia Siddiqi, she was arrested andtaken to an Afghan police station wherefour Americans - two military and twoFBI agents - rushed to "question" herthrough interpreters. The FBI and mili-tary claim that they were taken to aroom that had a curtain at one end andthat they did not know that Dr Siddiquiwas lying asleep on a bed at the otherside of the curtain. They entered theroom and one of the military personssaid he laid his weapon down. Dr Aafiagot up, grabbed the weapon, yellingobscenities and that she wanted to "killAmericans, she fired the rifle twice,missing everyone in the small room - infact she even missed the walls, floorand ceiling since no bullets from therifle were ever recovered. Then one ofthe Americans shot her twice in thestomach "in self-defence." She wasconvicted by a jury and sentenced to 86years.

After 9/11, globally there have beennumerous false "terror" alerts leading tothe capture and torture of hundreds ofinnocent individuals. It is hard for theworld to believe that Colin Powellpaved the way for the invasion of Iraqon faulty intelligence. In the regionalframework the three stakeholders onPakistan side PM Gilani, COAS Kayaniand Pakistani public face an uphill taskto convince each other and synergizeefforts in war on terror. Strategicallythey see disparity in US civil nuclearpolicy and carry concerns over USunderstanding of future Afghanistan. Inhandling of Raymond Davis like issuesthey find heart breaking and mind bog-gling US policies. The US and Pakistanmust understand that its war of heartsand minds and success only depends inmutual understandings which will comethrough sincere actions.

Pak-US relations &Raymond Davis Case

KASHMIRDAY!

In the annals of history,Kashmir holds a unique posi-tion. For its captivating, mes-merised and awestruck scenicbeauty, rivers, lakes, moun-tains,delicious and sweetfruits, bounty of beauty of itspeople and Sufis' Shrines.Today is Kashmir Day! On5th February we affirm ourmoral support to the Muslimbrethren of Indian heldKashmir. Kashmiris areawaiting plebiscite ensuredby United Nation's resolu-tions that will decide theirfate to live with Pakistan orIndia. Despondently! nothingpractical has been done so farfor settlement of this issue forwhich both countries havefought three wars. This situa-tion forced Kashmiris andthey took the liberation move-ment in their hands and stoodagainst Indian atrocities.Kashmiri youth matchlesscourage and tens of thousandsembraced martyrdom. Theirordeal still continues. Now,

these innocent people arebutchered, killed, humiliatedall the time. Their rights havebeen usurped, women aremolested, youth face extra-judicial killings, horror andterror prevails throughout thevalley, and the human rightactivists are dumb and deaf.In order to realize "Aman kiAsha", the core issue ofKashmir needs to beredressed according to will ofKashmiris. From Timesimmemorial, oppression andsuppression has remained partof Rulers and governments,but in the end justice is doneto oppressed ones by Lord ofthe lords. Tyranny cannot goalong for a long time. Worldis taking turn. Nations areawaking and rising againstdictators and usurpers andInsha Allah, soon a time willcome when Kashmir will befreed from the tyrant rule ofIndia.

IFTIKHAR SHAHEENMIRZA, ISLAMABAD

Churchill &Creation of

Pakistan"Power will go to rascals,

rogues, freebooters… Allleaders will be of low caliberand men of straw…They'llhave sweet tongues AND sillyhearts...They will fightamongst themselves for powerand the two countries will belost in political squabbles…Aday would come when evenair and water will be taxed."

These are the words fromthe quotes of Sir WinstonChurchill, the World Warfame British Prime Minister,who expressed his optimism

on his independent judicialsystem at the peak of war:"Are our courts dispensingjustice", he asked, and thereply came "yes". "ThenBritain will not be defeated",he replied and his wordsbecame history.

Isn't today what the wisdomof Churchill foresaw 64 yearsago about the newly bornPakistan, proved to be true?Certainly incredibly we haveworked very hard to provehim right. Haven't we?

Marya Mufti, Lahore

Need of the hourfor Pakistan

People of Tunis and Kyrgyzstan raised voicesagainst government and marched on the roads; indominoes. With it Egyptian people also do thatand are going to succeed. By these situationsmany voices rise inside Pakistan that Pakistanalso needs such kind of revolution to get rid of itsproblems. This is questionable that whetherPakistan needs this or not and if yes then howcan it enable to cope with the problems?

There are basically two major factors that leadto the revolutionary movement in Egypt, first ispolitical suffocation and the other is inflation.So, there is a huge difference between Pakistanand the Egypt on the basis of first factor "politi-cal suffocation". In Egypt government was onthe rule for several decades and there was nochance to be overthrown. So people marched totake revenge for their poor condition and tooverthrow the government .they are hopeful thatthe new government may better work for thebetterment of their livelihood. But they do notknow that those who are overthrown and thosewho will be given power would be sponsored bya foreign power as, the current governmentwhich now seems bad was good in the eyes ofUS. And now US is supporting the revolution-ary movement against those good.

In Pakistan there is no political suffocation asPakistan is facing political instability from thestart and the civilian government is liked bypeople rather than dictatorship. So in these daysthere is civilian rule and those who are willingto overthrow the current government and prop-agating revolution like Egypt are not well-wishers of Pakistan but they only want to rulein Pakistan by sitting abroad. They will come toPakistan on visit visa to spend holidays like thecurrent government. So for whom people will

march? People of Pakistan did this in historyagainst Ayub Khan on the call of Zulfikar AliBhutto and then second time against ZulfikarAli Bhutto in 1970s and recently for lawyer'smovement. But to overthrow the government isnot the solution of the day as we have learntfrom history.

Second factor is Inflation which is commonin Pakistan and Egypt as well. But the questionis that whether the new government of Egyptcan work against inflation as common factor inpolitics are new faces but same psychology andPakistan is a great example for that. New maskwould surely made by USA. Egypt will learnthrough experience in future but Pakistan hasalready experienced it. So, how can we trust tonew face? Another thing which is very differentin both Egypt and Pakistan is the situation andenvironment. People in Pakistan cannot comeout of homes because of the fear of terrorismand no clear cut solution for their problems.

The need in Pakistan is to raise civic sensewithin the masses that the people who can raisevoice belong to middle class or elite class andthey are mute against inflation because the canafford it. The do not think about those who arelower to them and this is the major problem andneeds to be cured. Need of the day is to raisevoice against inflation and not against the gov-ernment. We are responsible for our presentcondition not our government. For 1% pricerise we do not bother that and now when itreached at the level of 1+1=11 then we areblaming the government. Instead of blaminggovernment we should look at ourselves thatwhat we are. We should raise right voice other-wise the result would be disastrous.

Sobea Tabbasum, Chakwal

US & DemocracyWhile Hillary Clinton has called for an 'orderly

transition' in Egypt, this now appears too little, toolate. It is interesting to note that US has not beenconsistently vocal about the fact that since 1967,Egypt had been ruled under Emergency Law andstill had been a major beneficiary of US aid.Another discrepancy in US stance of supportingdemocracies in the region appears in Algeriawhere Islamic Salvation Front swept elections inearly 90s but was not allowed to take power, yetthe US supported this exclusion which JamesBaker admitted - 'We recognized that this wassomewhat at odds with our support of democracy'.

Not only in Algeria, US had been at odds withdemocratically elected governments inPalestine, Iran and Lebanon as well. AfterHamas gained decisive victory in 2006 elections

of Palestine, not only the international assis-tance was cut-off by US and EU, but evenPalestine's own national monthly tax and cus-toms receipts collected by Israel was withheld.In Iran, US media extensively covered andhyped 'soft revolution' against democraticallyelected Ahmadinejad government. And inLebanon, ouster of West-backed Saad Haririwho was replaced by Hezbollah-backed candi-date Najib Mikati recently as prime ministermade US apprehensive prompting HillaryClinton to declare 'A Hezbollah-controlled gov-ernment would clearly have an impact on ourbilateral relationship with Lebanon. Its hightime for US to reconsider its policy of selectivesupport of democracies throughout the world.

Nizar Ali, Karachi

Moreover, shooting in self-defence islogical to bodily harm and make him

ineffective for some time. If you kill, youwill go to prison for either manslaughter or

a second-degree murder. In the regionalcontext such twisting of self defence was

also applied in September 2010 whenNATO helicopters based in Afghanistan

carried out at least two airstrikes inPakistan that killed more than 50 persons

after the insurgents attacked a small Afghansecurity outpost near the border

“

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

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

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

INDUS MOTOR COProduction (July 10 to Nov 10) 20,987

Sales (July 10 to Nov 10) 20,375

Production (Nov 10) 3,974

Sales (Nov 10) 3,753

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

Sales (July 10 to Nov 10) 6,247

Production (Nov 10) 1,145

Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORSProduction (July 10 to Nov 10) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

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

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

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

Spread (October 10) 7.49%

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

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

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

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (Nov 10) 1

PRICES (Ex-Refinery) RsMS (1 Dec 10) 45.15

MS (1 Nov 10) 44.53

MS % Chg 1.39%

Kerosene (1 Dec 10) 52.04

Kerosene (1 Nov 10) 51.25

Kerosene % Chg 1.54%

JP-1 (1 Dec 10) 52.27

JP-1 (1 Nov 10) 51.48

JP-1 % Chg 1.53%

HSD (1 Dec 10) 55.20

HSD (1 Nov 10) 54.24

HSD % Chg 1.77%

LDO (1 Dec 10) 50.52

LDO (1 Nov 10) 49.51

LDO % Chg 2.04%

Fuel Oil (1 Dec 10) 43,019

Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)LOTPTA 16.38 35.36 BOP 8.36 8.59 NCL 25.79 8.13 ANL 11.28 6.36 JSCL 11.59 4.32

Symbol Close ChangeRMPL 2,420.30 70.88

ULEVER 4,385.65 35.60

COLG 960.00 24.99

BATA 642.11 13.11

LAKST 277.75 12.68

Symbol Close ChangeUPFL 1,105.09 -54.92SFL 108.21 -5.69ILTM 104.55 -5.5SITC 112.56 -5.44TRIPF 132.77 -5.14

Plus 200Minus 161Unchanged 18

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Saturday, February 5, 2011 5

Opening 12,359.06

Closing 12,415.35

Change 56.29

% Change 0.46

Turnover (mn) 131.72

Opening 3,781.38

Closing 3,791.92

Change 10.54

% Change 0.28

Turnover (mn) 3.81

Opening 3,047.54

Closing 3,056.41

Change 8.87

% Change 0.29

Turnover (mn) 0.14

Indonesia up after rate rise;PTTEP leads Thai up

Middle East stocks

Developed countries stocks wininvestor favor in week: EPFR

ANNOUNCEMENTS

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

Fauji Cement - 92%(R) - -

Gharibwal Cement Yearly - -1,027.49 -4.43

US stocks early-trade

Wall Streetslips after

mixed January

jobs reportNEW YORK: US stocks

slipped on Friday after a mixed

payrolls report showed that

while the unemployment rate

dropped sharply last month, the

number of new jobs barely

grew.

Major indexes faced resist-

ance after the Dow opened

above the 12,000 mark for a

third consecutive day. US

employment rose by a meager

36,000 jobs in January, far less

than expected, but the unem-

ployment rate fell to its lowest

level since April 2009.

"Despite the general bullish-

ness in the market, we've been

trading sideways for a while"

because the market needs a

small pullback to move beyond

the technical ranges, said James

Dailey, portfolio manager of

TEAM Asset Strategy Fund in

Harrisburg, Pennsylvania.

The Dow Jones industrial

average was down 22.93

points, or 0.19 per cent, at

12,039.33. The Standard &

Poor's 500 Index was down

3.31 points, or 0.25 per cent, at

1,303.79. The Nasdaq

Composite Index was down

0.70 points, or 0.03 per cent, at

2,753.18.

Both the Dow and the S&P

500 remained near their 2 1/2-

year highs reached last

Tuesday.

"From a short-term perspec-

tive, the Dow has resistance at

the 12,050 level and support at

the key 12,000 region," said

Joseph Hargett, analyst at

Schaeffer's Investment

Research in Cincinnati, Ohio.

Hundreds of thousands of

Egyptians marched peacefully

in Cairo on Friday to demand

an immediate end to President

Hosni Mubarak's 30-year rule.

Reuters

MUMBAI: Indian sharesdeclined for the fourth weekin five, shedding 2.4 per centin choppy trade on Friday, asworries of continued highglobal oil prices worseningthe domestic inflationarypressures hit investor senti-ment.

Earlier on Friday, IndianPrime Minster ManmohanSingh said high headlineinflation is beginning to posea serious threat to India'shigh growth plans, in one ofhis strongest warnings overthe risk of rising prices.

The 30-share BSE indexdropped 2.1 per cent thisweek and is down more than12 per cent so far in 2011.

Foreign institutionalinvestors pulled out $1.5 bil-lion from Indian shares thisyear until Feb. 2, with highinflation and rising violencein Egypt hastening with-drawals as risk aversiongrips global investors.

"People are nervousbecause FII funds are mov-ing out. Participation fromdomestic investors is com-pletely missing.

The market depth seems tobe very weak," said DevenChoksey, managing directorat KR Choksey Shares &Securities.

Energy major RelianceIndustries, with the heaviestweightage in the main index,led losses, dropping 2.5 percent on concerns it may getsucked into a bidding war

for a US asset. Software andfinancial stocks were alsoamong major losers.

The main index fell onFriday after two days ofgains, closing down 441.16points at 18,008.15 points,its lowest close since August2010. It had earlier risen asmuch as 0.5 per cent. Only 1of its components closed inthe green.

"There is no fresh moneycoming into the market asinvestors prefer to stay onthe sidelines on Egypt andinflation worries," said ArunKejriwal, director ofresearch firm KRIS. "Risingoil prices have added to thepoor sentiment in the mar-kets."

Oil was headed for a sec-ond straight week of gains asEgypt's volatile situationkept markets on edge, whileinvestors awaited USemployment data expectedto give direction to priceslater in the day.

Rising prices of food andother commodities areexpected to trigger moremonetary tightening byIndia's central bank, whichhas raised interest ratesseven times since mid-March last year.

Data on Thursday showedIndia's food price index rose17.05 per cent and the fuelprice index climbed 11.61per cent in the year to Jan.22.

Shares in Reliance fell on

concerns the company maychallenge Chevron's bid forAtlas Energy, according to aletter disclosed by the U.S.natural gas producer.

Software exporters Infosysfell 2.2 per cent and TataConsultancy Services lost3.1 per cent, as worriesabout outsourcing businessmomentum kept investors onthe sidelines. Smaller rivalWipro fell 1.4 per cent.

Consumer goods firmsdropped on fears rising inputcosts and higher inflationwill dent growth in comingquarters. Cigarette makerITC, which also makes pack-aged food, lost 4.2 per cent,while top consumer goodsmaker Hindustan Unileverfell 2 per cent.

Cement makers AmbujaCements and ACC fell asmuch as 3.5 per cent and0.9 per cent, respectively,after they said oversupplyand rising input costswould keep margins underpressure in the short term.Both companies, 46 percent owned bySwitzerland's Holcim, saidthey continued to bet onlong-term demand growthfrom India's housing andinfrastructure sectors, butgrowing excess supplywould result in pricingpressure in the near term.

Bajaj Auto was the onlyindex stock to buck thetrend, rising 1.3 per cent.Reuters

Indian shares atfresh 5-month low

FRANKFURT: Paris Hilton poses at the Frankfurt Stock

Exchange during her Rich Prosecco promotion tour.-Reuters

Nawaz Ali

KARACHI: Positive activi-ties continued at the KarachiStock Exchange on Friday asinvestors bought shares overhopes of an early launch ofMargin Trading System(MTS).

The benchmark KSE-100index increased by 56 pointsto close at 12,415 levels, KSE-30 index rose by 54 points toclose at 12,095 and KSE all-share index grew by 38 pointsto close at 8,603 points.

"Bullish activity witnessedahead of SECP chairman con-sent on visit to KSE on toreview approval of MTS", saidAhsan Mehanti, Director ArifHabib Investments.

Higher global commodityprices and expectation of earlylaunch of leverage productsplayed a catalyst role in posi-tive close at KSE, he added.

The day started with 3 pointsup, index then witnessed somemix activities for about onehour after that some profit tak-ing sent the index down intothe negative zone. However,losses remained restricted asindex didn't go below 12,344points (-ve 14) as renewedbuying was witnessed mainlyin banking and textile stocks atlower levels on hopes oflaunch of margin trading sys-tem soon and on the expecta-tions of strong corporateresults., Therefore, indexbounced back into the positivezone and closed the first ses-sion at 37 points up.

Chairman SECPMohammad Ali would be vis-

iting exchange on Monday tomeet the members and also toattend the first meeting of2011 of the KSE Board ofDirectors. According toexperts the proposed meetingraised expectations of an earlylaunch of the much awaitedleverage product.

Positive activities furtherincreased during the secondsession where at about 2:33PST index touched an intra-day high of 12,442 points (+ve83). Though, some profit tak-ing at higher levels reducedthe index gains but it managedto end the session above12,400 levels.

Furqan Punjani, analyst atTopline Securities said thathigher cotton prices inducedinvestors to build up freshpositions in LOTPTA fol-lowed by NCL where the scripclosed on its upper circuitbreaker. Along with textile,banking sector was also inlimelight in anticipation ofbetter results.

Volumes were slightly high-er as 131.7 million shares trad-ed during the day which were8.4 million shares more ascompared to a turnover of123.3 million shares a day ear-lier.

Lotte Pakistan emerged thevolume leader with 35.36 mil-lion shares exchanging handsfollowed by Bank of Punjabwith 8.59 million shares andNishat Chunian with 8.13 mil-lion shares.

Out of total 379 activeissues; 200 advanced and 161declined while 18 issuesremained unchanged.

Hopes pinned on chairman SECP visit

KSE apexindex stands

above 12,400pts

Europeanshares gains

on mixedUS jobs dataLONDON: European sharesended slightly higher on Fridayafter paring gains on a mixedUS jobs report, while construc-tion stocks remained among thetop gainers thanks to animproving outlook.

US non-farm payrolls datafor January came in muchlighter than expected, with just36,000 jobs added, althoughthe jobless rate fell to its lowestlevel since April 2009, a con-flicting report that took marketssome time to digest.

After selling off slightly onthe initial numbers, releasedprior to the US open, theFTSEurofirst 300 traded flatafter US markets opened lower,before recovering to end up 0.2per cent at 1,165.27 points.

"People are debating whetherthe report was weak or strong,"Ryan Wang, economist atHSBC, said. "I think it wasactually quite a strong report,and am focused on the declinein the unemployment rate."

The index had closed flatThursday, recovering fromlows after strong US servicesector and weekly jobs data,and nonfarm payrolls had beenexpected to support the trend.

In spite of the late selloff, con-struction stocks stayed amongthe top gainers and the STOXXEurope 600 Construction &Materials index ended up 1.8 percent, led by a 10 per cent gain forFinnish builder YIT on a strongoutlook, buoyed by demand fornew flats in Russia and Finland.

Elsewhere in the sector,Swedish lock maker AssaAbloy gained 2.6 per centahead of its results due forannouncement on Monday.

A recent run of results fromsector peers such as Ambuja,ACC, Cemex and Vicat weresupportive, said UBS analystsin a note, highlightingHeidelberg Cement, up 3 percent, as its top pick.

On the blue-chip ESTOXX50, which closed up 0.3 percent, technicals point to furtherupside, said PhilippeDelabarre, analyst at Paris-based Trading Central.

See # 14 Page 11

TOKYO: The Nikkei averagerose to a two-week high onFriday, after a planned mergerof two steel firms lifted hopesfor restructuring in corporateJapan and provided freshmomentum for the benchmarkwhich had been widely seen asdue for a correction.

Better-than-expected resultsor annual guidance from thelikes of Sony Corp, Hitachi Ltdand Softbank Corp, as well asencouraging US chain storesales data also bolstered senti-ment with foreign investorsdetected piling into major hightech shares.

Shares in Sharp Corp alsojumped after an industry sourcetold Reuters it is negotiatingliquid-crystal display panel sup-ply deals with SamsungElectronics of South Korea andTaiwan's Chimei Innolux.

Nippon Steel Corp andSumitomo Metal Industries saidthey would merge to create theworld's second-largest steel-maker to better fend off Asianrivals, sending their stocks andothers in the sector sharplyhigher.

"The news will likely raiseexpectations that more Japanesecompanies will seriously try toincrease their competitive edgein the global market," saidShinichiro Matsushita, a seniormarket analyst at DaiwaSecurities.

The benchmark Nikkei endedthe day up 1.1 per cent, or112.16 points, at 10,543.52, itshighest level since Jan. 19 andnot far off this year's intradayhigh of 10,620.57 hit on Jan.13, which has become thebenchmark's immediate target.It rose 1.8 per cent on the week.

The broader Topix gained 0.8per cent to 935.36. Volume alsohit a two-week high, with 2.56billion shares changing handson the Tokyo stock exchange'sfirst section, comfortably top-ping last week's daily average

of 1.92 billion shares.The Nikkei has gained 15.2

per cent on foreign buying sincelast November and many mar-ket participants had expected acorrection before more gains.But the merger deal, accompa-nied by hopes for more strongdata from the US, will probablylift the Tokyo market earlierthan expected with the bench-mark set to pierce its year-to-date high as early as next week,analysts said.

"I had expected that theNikkei would refresh its year-to-date high around the end ofMarch, but it may happen earli-er thanks to active corporateconsolidation in the domesticmarket," Mitsushige Akino, afund manager at IchiyoshiInvestment Management said.

SHARP SPIKESNippon Steel surged 9.1 per

cent to 313 yen, whileSumitomo Metal soared 16.1per cent to 224 yen to becomethe two biggest percentagegainers on the Nikkei.

Sony rose 1.8 per cent to2,919 yen after better-than-expected earnings for theOctober-December period. Itsoperating profit was 137.5 bil-lion yen ($1.7 billion) in thequarter, compared with ana-lysts' average forecast of 127billion yen.

Electronics conglomerateHitachi climbed 3 per cent to487 yen and hit its highest sinceNovember 2008 after raising itsannual outlook above marketexpectations, as cost-cuttingand robust revenue in emergingmarkets helped quarterly oper-ating profit nearly double.

A key focus for the market ismuch-anticipated January USnon-farm employment reportwith an estimated increase injobs of 145,000 from econo-mists polled by Reuters.

Advancing shares outpaceddeclining ones by 1,168 to 351.Reuters

Nikkei at 2-week high,

Steel sectormerger

boosts mood

Saturday, February 5, 20116

Volume 131,717,608

Value 5,121,146,620

Trades 62,785

Advanced 200

Declined 161

Unchanged 18

Total 379

Current 8,603.93

High 8,622.01

Low 8,558.60

Change h38.77

Current 12,415.35

High 12,442.55

Low 12,344.06

Change h56.29

Current 12,095.36

High 12,121.77

Low 12,023.50

Change h54.2

Market KSE 100 Index All Share Index KSE 30 Index

Current 20,062.60

High 20,095.03

Low 19,903.90

Change h106.34

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Hira Textile Mills Limited

HIRAT closed up 0.12 at 3.99. Volume was 103 per cent above aver-

age and Bollinger Bands were 46 per cent narrower than normal. The

company's profit after taxation stood at Rs94.915 million which trans-

lates into an Earning Per Share of Rs1.33 for the 1st quarter of current

fiscal year (1QFY11).

HIRAT is currently 1.8 per cent above its 200-day moving average and

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

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

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

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

RSI (14-day) 53.55 Total Assets (Rs in mn) 3,356.84

MA (10-day) 3.87 Total Equity (Rs in mn) 1,312.24

MA (100-day) 4.05 Revenue (Rs in mn) 3,116.91

MA (200-day) 3.92 Interest Expense 263.53

1st Support 3.90 Profit after Taxation 248.83

2nd Support 3.75 EPS 10 (Rs) 3.478

1st Resistance 4.10 Book value / share (Rs) 18.34

2nd Resistance 4.15 PE 11 E (x) 0.75

Pivot 3.95 PBV (x) 0.22

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

BIPL closed up 0.03 at 3.83. Volume was 47 per cent below average and

Bollinger Bands were 2 per cent wider than normal. The company's profit

after taxation stood at Rs1.565 million which translates into an Earning Per

Share of Rs0.003 for the nine months of current calendar year (9MCY10).

BIPL is currently 6.9 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely low when compared

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

cators reflect volume flowing into and out of BIPL at a relatively equal

pace. Trend forecasting oscillators are currently bullish on BIPL.

RSI (14-day) 50.04 Total Assets (Rs in mn) 34,286.77

MA (10-day) 3.90 Total Equity (Rs in mn) 4,740.29

MA (100-day) 3.42 Revenue (Rs in mn) 2,193.89

MA (200-day) 3.58 Interest Expense 1,222.17

1st Support 3.71 Loss after Taxation (478.94)

2nd Support 3.61 EPS 09 (Rs) (0.907)

1st Resistance 3.90 Book value / share (Rs) 8.98

2nd Resistance 3.99 PE 10 E (x) 957.50

Pivot 3.80 PBV (x) 0.43

BankIslami Pakistan Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

SILK closed down -0.06 at 2.48. Volume was 61 per cent below aver-

age (consolidating) and Bollinger Bands were 40 per cent wider than

normal. The company's loss after taxation stood at Rs700.335 million

which translates into a Loss Per Share of Rs0.32 for the nine months of

current calendar year (9MCY10).

SILK is currently 13.1 per cent below its 200-day moving average and

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

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

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

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

RSI (14-day) 34.82 Total Assets (Rs in mn) 68,664.34

MA (10-day) 2.57 Total Equity (Rs in mn) 196.91

MA (100-day) 2.73 Revenue (Rs in mn) 5,913.32

MA (200-day) 2.85 Interest Expense 5,855.52

1st Support 2.41 Loss after Taxation (2,902.91)

2nd Support 2.36 EPS 09 (Rs) (3.224)

1st Resistance 2.55 Book value / share (Rs) 0.22

2nd Resistance 2.64 PE 10 E (x) -

Pivot 2.50 PBV (x) 11.34

Silkbank Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

ANL closed up 0.01 at 11.28. Volume was 30 per cent above averageand Bollinger Bands were 74 per cent wider than normal. The compa-ny's loss after taxation stood at Rs488.179 million which translates intoa Loss Per Share of Rs1.12 for the nine months of current calendaryear (9MCY10).ANL is currently 0.9 per cent below its 200-day moving average and isdisplaying an upward trend. Volatility is high as compared to the aver-age volatility over the last 10 trading sessions. Volume indicators reflectmoderate flows of volume into ANL (mildly bullish). Trend forecastingoscillators are currently bullish on ANL.

RSI (14-day) 54.62 Total Assets (Rs in mn) 38,525.22

MA (10-day) 11.46 Total Equity (Rs in mn) 18,469.71

MA (100-day) 10.59 Revenue (Rs in mn) 11,737.86

MA (200-day) 11.38 Interest Expense 2,424.42

1st Support 11.16 Profit after Taxation 60.53

2nd Support 11.00 EPS 09 (Rs) 0.003

1st Resistance 11.51 Book value / share (Rs) 37.85

2nd Resistance 11.70 PE 10 E (x) -

Pivot 11.35 PBV (x) 0.30

Azgard Nine Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,577.42 1,592.89 1,570.54 1,582.88 5.46 0.35

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

5,376,074 - - 65,194.15 mn 1,220,154.07 mn 1,582.88

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

11.51 3.74 32.54 55.94 4.86 1,564.72

Attock Petroleum 691 7.00 382.54 391.50 382.10 387.43 4.89 282279 401.00 300.00 300 20B115.00 -

Attock Refinery 853 4.93 121.51 122.70 120.61 121.05 -0.46 901242 146.90 115.25 - - - -

BYCO Petroleum 3921 - 10.10 10.33 10.05 10.11 0.01 660642 12.49 9.80 - - - -

Mari Gas Company 735 17.56 129.47 131.50 129.00 129.56 0.09 44092 141.65 117.00 31 - - -

National Refinery 800 5.88 284.90 287.49 281.80 283.58 -1.32 258312 335.00 223.50 200 - - -

Oil & Gas Development 43009 11.68 172.85 173.40 172.00 172.70 -0.15 350940 185.00 155.40 55 - 15.00 -

Pak Petroleum 11950 7.87 212.75 217.25 212.75 215.18 2.43 1300524 229.80 187.65 90 20B 50.00 -

Pak Oilfields 2365 7.65 330.09 333.00 329.00 331.78 1.69 1503653 341.50 248.00 255 -100.00 -

Pak Refinery Limited 350 - 98.74 99.99 97.01 97.98 -0.76 22390 122.22 80.00 - - - -

P.S.O 1715 4.90 287.62 291.00 284.30 289.31 1.69 639389 317.79 277.45 80 - - -

Shell Gas LPG 226 - 31.75 32.97 31.07 31.60 -0.15 4564 39.89 30.71 - - - -

Shell Pakistan 685 11.03 214.56 218.99 214.00 215.11 0.55 68689 222.00 192.50 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

989.30 1,004.08 982.57 990.01 0.72 0.07

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

17,691,436 - - 47,070.70 mn 140,509.95 mn 997.92

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

7.69 0.66 8.64 16.68 2.17 984.41

(Colony) Thal 56 - 1.27 1.31 1.30 1.31 0.04 502 1.50 0.56 - - - -

Ali Asghar Textile 222 15.25 0.99 1.00 0.61 0.61 -0.38 1000 1.50 0.61 - - - -

Amtex Limited 2594 8.55 3.78 4.05 3.65 3.76 -0.02 298582 5.28 3.65 30 - - -

Artistic Denim 840 6.13 22.00 22.10 22.05 22.05 0.05 700 24.59 19.10 20 - - -

Azgard Nine 4493 - 11.27 11.54 11.19 11.28 0.01 6359077 12.84 9.20 - - - -

Babri Cotton 33 0.45 10.90 11.50 10.95 10.95 0.05 501 16.00 8.10 - 15B - -

Bannu Woolen XD 76 0.48 13.85 14.01 13.50 13.76 -0.09 10001 15.10 12.30 20 - - -

Bata (Pak) 76 5.32 629.00 659.00 630.00 642.11 13.11 488 747.48 580.00 - - - -

Brothers Textile 98 - 0.50 0.60 0.60 0.60 0.10 611 1.49 0.15 - - - -

Chenab Limited 1150 - 2.93 3.06 2.85 2.86 -0.07 4507 3.90 2.82 - - - -

Crescent Textile 492 3.29 16.86 17.11 17.10 17.10 0.24 1018 23.99 16.86 15 - - -

D S Ind Ltd 600 - 1.68 1.75 1.61 1.72 0.04 5609 2.10 1.55 - - - -

Dawood Lawrencepur 514 41.87 36.90 38.74 35.06 35.59 -1.31 60863 47.00 35.05 5 - - -

Dewan Mushtaq Textile 34 0.17 5.40 6.40 4.40 5.40 0.00 507 8.90 2.90 - - - -

Ellcot Spinning 110 0.62 20.90 20.90 20.00 20.36 -0.54 26191 21.78 18.51 35 - - -

Gadoon Textile XD 234 0.77 71.97 73.19 70.50 70.51 -1.46 1003 73.19 45.00 70 - - -

Ghazi Fabrics 326 0.64 3.93 3.90 3.90 3.90 -0.03 200 5.05 2.80 10 - - -

Gul Ahmed Textile 635 4.31 29.45 30.00 30.00 30.00 0.55 117 33.19 24.00 12.5 - - -

Gulistan Textile 190 1.18 20.56 21.58 19.55 19.66 -0.90 1000 28.27 18.00 10 - - -

Gulshan Spinning 222 0.86 7.22 7.11 7.00 7.10 -0.12 8500 8.50 6.30 10 20B - -

Hira Textile Mills Ltd. 716 0.75 3.87 4.00 3.80 3.99 0.12 318676 4.47 3.31 10 - - -

Ibrahim Fibres 3105 4.23 53.16 54.40 53.10 53.75 0.59 6825 55.00 36.00 20 - - -

Idrees Textile 180 3.91 3.45 3.60 3.60 3.60 0.15 2000 3.90 2.70 10 - - -

Ishaq Textile 97 1.44 8.50 8.00 8.00 8.00 -0.50 5000 8.70 4.99 8 - - -

J K Spinning 184 1.04 5.80 6.80 5.80 6.80 1.00 1004 9.50 4.05 20 5B - -

Kohinoor Ind 303 - 1.49 1.70 1.35 1.50 0.01 138 2.00 0.75 - - - -

Kohinoor Textile 1455 3.58 5.21 5.25 4.91 5.01 -0.20 7975 5.97 4.81 - - - -

Liberty Mills 226 3.52 68.93 67.05 67.00 67.01 -1.92 500 72.95 55.50 30 - - -

Masood Textile 600 1.90 18.50 18.11 18.05 18.05 -0.45 2600 20.74 18.00 15 100R - -

Moonlite (PAK) 22 - 14.00 15.00 13.00 14.29 0.29 7101 15.00 4.50 - - - -

N P Spinning 147 8.80 25.00 25.00 25.00 25.00 0.00 500 25.00 20.00 20 - - -

Nishat (Chunian) 1614 2.14 24.57 25.79 24.70 25.79 1.22 8133284 25.79 21.15 15 - - -

Nishat Mills 3516 5.74 66.75 67.50 66.66 66.87 0.12 1866921 71.89 51.70 25 45R - -

Pak Synthetic 560 4.56 13.00 13.62 12.61 13.50 0.50 475194 13.62 6.21 - - - -

Paramount Spinning 174 0.84 11.13 11.98 10.25 11.50 0.37 717 11.98 8.00 10 10B - -

Ravi Textile 250 - 1.34 1.44 1.35 1.35 0.01 7918 1.98 0.65 - - - -

Reliance Weaving 308 0.65 9.28 9.50 9.25 9.27 -0.01 17903 10.34 8.50 25SD - - -

Rupali Poly 341 4.82 37.87 38.39 37.01 38.39 0.52 3001 39.89 31.25 40 - - -

Salman Noman 42 2.08 4.10 5.10 4.00 4.90 0.80 6700 6.35 2.01 - 5B - -

Sargoda Spinning 312 0.70 4.03 4.15 3.61 3.63 -0.40 2204 4.45 1.51 5 - - -

Service Ind 120 7.59 218.07 225.00 219.00 221.57 3.50 2159 276.50 169.00 - - - -

Shadman Cot 176 2.50 14.70 14.51 13.70 13.70 -1.00 1500 15.25 7.00 - - - -

Sunrays Textile 69 0.69 35.49 33.85 33.85 33.85 -1.64 600 39.84 33.64 30 - - -

Suraj Cotton 180 0.89 39.84 40.00 37.86 39.50 -0.34 3525 41.95 31.50 50 - - -

Tata Textile 173 0.39 40.10 40.50 38.75 40.50 0.40 400 40.50 23.50 25 - - -

Thal Limited 307 5.19 120.65 122.70 121.00 121.53 0.88 5482 132.00 95.10 80 20B - -

Treet Corp 418 9.18 57.98 58.75 57.50 57.68 -0.30 22747 63.30 50.50 - - - -

Tri-Star Poly 215 - 0.87 0.91 0.53 0.53 -0.34 443 1.49 0.43 - - - -

Yousuf Weaving 400 0.48 1.30 1.40 1.16 1.38 0.08 415 2.00 1.00 - - - -

Zil Limited 53 4.24 60.31 63.32 63.32 63.32 3.01 6582 63.32 42.30 35 - - -

Paid up Last 60 days 2010 2011

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,109.30 1,144.02 1,089.29 1,112.44 3.14 0.28

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

262,981 - - 3,763.71 mn 5,266.47 mn 1,112.44

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

3.19 0.34 10.64 6.27 1.97 1,098.52

Hussain Industries 106 - 6.09 7.09 6.39 6.88 0.79 19318 11.49 4.60 - - - -

Pak Elektron 1219 3.57 14.20 14.49 13.95 14.18 -0.02 148331 15.88 13.10 - 10B - -

Singer Pak 341 22.47 19.00 20.00 19.00 20.00 1.00 9518 20.79 17.55 - - - -

Tariq Glass Ind 231 2.67 22.75 23.20 21.80 22.30 -0.45 85741 24.00 15.90 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,809.74 1,874.33 1,776.58 1,819.97 10.23 0.57

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

106,302 - - 11,335.33 mn 272,778.97 mn 1,856.14

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

46.24 14.01 30.30 30.57 0.66 1,809.74

AL-Noor Sugar XD 186 1.08 42.80 44.94 42.50 42.99 0.19 105 54.00 42.25 50 - - -

Ansari Sugar 244 0.26 4.98 5.55 5.55 5.55 0.57 500 6.99 4.05 - - - -

Colony Sugar Mills 990 6.50 2.70 3.00 2.60 2.60 -0.10 3012 5.70 2.50 - - - -

Dewan Sugar 365 - 2.61 2.95 2.52 2.79 0.18 771 5.59 1.50 - - - -

Faran Sugar XD 217 1.45 17.60 18.00 17.53 17.98 0.38 330 21.73 17.25 25 - - -

Habib Sugar 750 8.82 22.15 22.50 22.00 22.23 0.08 37865 36.50 21.35 25 25B - -

Habib-ADM Ltd 200 11.39 12.40 12.30 12.10 12.30 -0.10 526 13.00 11.50 40 - - -

J D W Sugar 539 1.23 70.00 70.62 68.50 69.25 -0.75 336 92.50 68.00 7010B 12.5R - -

Mehran SugarXDXB 157 1.79 55.00 55.25 55.00 55.06 0.06 6276 68.49 52.60 35 20B 7.50 -

Mirza Sugar XD 141 - 4.71 5.50 4.50 4.63 -0.08 16900 7.18 4.01 10 - - -

Mithchells Fruit XD 50 9.27 82.00 84.20 79.00 79.00 -3.00 2094 89.90 65.00 40 - - -

National Foods 414 20.90 57.02 58.00 56.00 56.00 -1.02 260 75.50 41.52 12 - - -

Noon Pakistan 48 3.34 23.04 23.98 23.20 23.36 0.32 751 27.30 17.51 12 - - -

Noon Sugar 165 1.10 10.32 10.25 10.25 10.25 -0.07 1000 14.84 9.00 - - - -

Pangrio Sugar XD 109 - 4.30 4.59 4.05 4.05 -0.25 261 6.99 3.78 10 - - -

Quice Food 107 7.50 3.00 3.70 3.02 3.30 0.30 22000 3.70 2.02 - - - -

Sanghar Sugar XD 119 2.21 11.99 12.15 12.00 12.01 0.02 536 15.01 11.35 15 - - -

Shahtaj Sugar 120 3.59 55.44 58.21 52.67 53.53 -1.91 11289 100.26 52.67 - - - -

Shakarganj Mills 695 0.34 4.80 5.40 4.66 4.81 0.01 655 7.88 4.06 - - - -

Tandlianwala 1177 372.73 41.96 41.00 40.00 41.00 -0.96 501 42.52 29.03 - - - -

UniLever Pakistan 665 20.47 4350.05 4500.00 4250.00 4385.65 35.60 120 4818.00 3901.00 178 - - -

Paid up Last 60 days 2010 2011

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,271.29 1,286.19 1,265.36 1,271.70 0.42 0.03

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

78,506 - - 6,768.53 mn 46,991.83 mn 1,285.43

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

4.74 1.20 25.35 20.42 4.30 1,267.82

Atlas Battery 101 5.94 198.40 199.95 197.00 198.76 0.36 14413 205.00 154.50 100 20B - -

Atlas Engineering Ltd 247 33.73 36.25 37.99 34.44 37.78 1.53 1204 41.30 15.00 - - - -

Atlas Honda 626 9.38 134.99 135.00 132.25 135.00 0.01 101 143.80 96.00 - - - -

Baluchistan Wheels Ltd. 133 6.11 31.99 32.50 32.50 32.50 0.51 1000 37.59 30.11 25 - - -

Dewan Motors 890 - 2.16 2.18 2.03 2.11 -0.05 16357 2.89 1.20 - - - -

General Tyre 598 20.66 23.00 24.15 23.50 23.97 0.97 5600 26.74 21.00 20 - - -

Ghandhara Nissan 450 3.08 4.55 4.60 4.41 4.43 -0.12 22513 5.50 4.41 - - - -

Ghani Automobile Ind 200 6.75 4.68 5.00 4.20 4.32 -0.36 1205 5.75 4.01 - - - -

Honda Atlas Cars 1428 - 10.90 11.70 10.80 10.88 -0.02 7231 13.40 10.60 - - - -

Indus Motors 786 6.62 290.00 290.01 290.00 290.00 0.00 430 309.73 231.00 150 - - -

Pak Suzuki 823 10.41 66.21 69.40 65.00 65.39 -0.82 6692 77.90 63.30 - - - -

Sazgar Engineering 150 4.36 22.50 23.39 22.31 23.35 0.85 1739 23.50 18.51 10 20B - -

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

1,579.15 1,607.26 1,584.71 1,597.08 17.93 1.14

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

93,383 - - 1,336.62 mn 34,526.46 mn 1,597.08

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

8.53 3.24 38.02 131.49 15.41 1,556.23

Ados Pak 66 1.06 15.99 16.45 16.40 16.43 0.44 505 18.20 14.12 - - - -

AL-Ghazi Tractor 215 5.74 234.00 240.00 231.50 239.75 5.75 5913 244.95 203.22 150 - - -

Bolan Casting 104 - 44.49 46.70 44.45 44.48 -0.01 1501 46.75 42.90 25 10B - -

Dewan Auto Engineering 214 - 1.28 1.35 1.21 1.33 0.05 115 2.40 0.21 - - - -

Ghandhara Ind 213 10.50 11.10 11.55 11.00 11.34 0.24 4003 13.50 10.70 - - - -

KSB Pumps 132 7.34 62.10 63.89 61.05 61.26 -0.84 16069 72.55 58.55 - - - -

Millat Tractors XB 366 8.49 544.32 553.85 548.00 551.40 7.08 65264 568.40 477.10 650 25B325.00 -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

1,021.92 1,027.50 1,011.62 1,013.42 -8.50 -0.83

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

173,968 - - 3,043.31 mn 38,070.71 mn 1,040.85

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

2.83 1.24 43.91 15.55 5.48 1,008.98

Cherat Papersack 115 2.59 72.13 75.20 72.20 72.76 0.63 33055 83.23 49.25 20 25B - -

ECOPACK Ltd 230 - 2.67 2.72 2.43 2.53 -0.14 3714 3.30 1.82 - - - -

Ghani Glass 1067 4.83 53.53 52.55 52.55 52.55 -0.98 1468 56.45 45.30 25 10B - -

Merit Pack 47 17.84 30.59 32.11 32.00 32.11 1.52 5570 32.45 17.10 - - - -

Packages Ltd 844 65.66 129.22 130.50 128.00 128.03 -1.19 24281 143.00 103.52 - - - -

Tri-Pack Films 300 9.68 137.91 138.50 131.50 132.77 -5.14 105877 144.50 102.51 - - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

944.43 959.35 932.00 944.70 0.28 0.03

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

3,565,151 - - 54,792.74 mn 66,332.14 mn 956.04

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

7.40 0.53 7.10 19.04 2.57 927.39

Al-Abbas Cement 1828 - 2.97 3.08 2.91 2.94 -0.03 30009 3.98 2.75 - 100R - -

Attock Cement 866 6.58 52.27 52.95 51.52 52.00 -0.27 29201 65.99 51.50 50 - - -

Balochistan Glass Ltd 858 - 2.65 2.88 2.32 2.66 0.01 616 4.24 1.10 - - - -

Berger Paints 182 - 20.40 20.80 20.10 20.40 0.00 5192 24.16 16.55 - 122R - -

Buxly Paints 14 - 10.70 11.70 9.70 11.61 0.91 436 15.50 7.91 - - - -

Cherat Cement 956 23.64 10.02 10.60 10.15 10.40 0.38 6765 12.75 9.95 - - - -

Dadabhoy Cement 982 12.92 1.80 1.95 1.60 1.68 -0.12 4553 2.49 1.50 - - - -

Dewan Cement 3891 - 1.98 2.10 1.84 1.90 -0.08 112166 3.10 1.45 - - - -

DG Khan Cement Ltd 3651 121.58 29.42 29.59 29.07 29.18 -0.24 1766104 32.30 27.67 - 20R - -

Fauji Cement 6933 6.43 4.69 4.79 4.61 4.63 -0.06 1002924 5.55 4.61 - - - 92R

Fecto Cement 502 3.88 7.01 7.50 7.39 7.44 0.43 5000 8.20 6.25 - - - -

Flying Cement Ltd 1760 - 1.70 1.85 1.69 1.70 0.00 12107 2.25 1.60 - - - -

Frontier Ceramics 77 - 1.86 2.00 1.51 1.86 0.00 5941 3.01 1.18 - - - -

Haydery Const 32 - 0.60 0.60 0.46 0.48 -0.12 17031 0.99 0.25 - - - -

Kohat Cement 1288 - 6.35 6.34 6.13 6.30 -0.05 13511 8.70 6.00 - - - -

Lafarge Pakistan Cmt. 13126 - 3.21 3.31 3.18 3.26 0.05 298145 3.88 2.95 - - - -

Lucky Cement 3234 6.42 71.51 71.99 71.05 71.40 -0.11 218217 79.98 69.35 40 - - -

Maple Leaf Cement 5261 1.22 2.60 2.69 2.57 2.63 0.03 30051 3.30 2.56 - - - -

Mustehkam Cement 417 - 11.50 12.50 10.50 12.48 0.98 201 15.35 10.50 - - - -

Pioneer Cement 2228 - 6.85 6.90 6.71 6.90 0.05 2400 8.20 6.51 - - - -

Shabbir Tiles 361 - 8.55 8.89 7.62 8.76 0.21 505 9.60 7.37 - - - -

Thatta Cement 798 455.00 18.32 18.23 17.46 18.20 -0.12 4001 20.44 16.75 - 50R - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,037.55 1,048.96 1,027.84 1,034.93 -2.62 -0.25

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

112,227 - - 3,596.11 mn 9,944.50 mn 1,040.56

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

3.25 1.08 33.10 30.91 9.51 1,026.60

Crescent Steel 565 3.09 29.61 29.99 29.26 29.55 -0.06 15394 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.52 2.64 2.45 2.55 0.03 35007 3.29 2.45 - - - -

Huffaz Pipe 555 9.01 14.10 14.50 14.40 14.41 0.31 2600 16.51 13.75 - - - -

International Ind 1199 18.73 51.79 52.10 51.45 51.51 -0.28 58477 62.20 44.53 55 20B - -

Siddiqsons Tin 785 10.23 9.00 9.20 8.76 9.00 0.00 749 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

1,059.35 1,061.09 1,044.00 1,058.58 -0.77 -0.07

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

12,738 - - 1,186.83 mn 2,934.38 mn 1,059.35

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

5.39 0.40 7.47 25.28 4.69 1,033.26

Century Paper 707 - 16.00 16.09 15.77 16.05 0.05 11288 19.69 14.95 - - - -

Pak Paper Product 50 8.15 42.82 42.40 41.55 42.40 -0.42 201 48.90 39.00 2533.33B - -

Security Paper 411 6.86 38.49 38.50 38.00 38.40 -0.09 1249 47.70 37.70 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,602.15 1,625.03 1,592.05 1,604.98 2.83 0.18

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

53,523,301 - - 52,251.88 mn 354,155.90 mn 1,604.98

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

9.79 3.43 35.00 48.81 4.98 1,566.27

Agritech Limited 3924 8.78 23.95 24.75 22.85 24.22 0.27 55050 26.73 20.26 - - - -

BOC (Pak) 250 12.97 94.60 96.00 94.00 94.43 -0.17 3329 103.94 75.02 15 - - -

Clariant Pak 273 7.18 203.06 204.79 200.00 200.64 -2.42 46105 213.30 151.55 135 25B - -

Dawood Hercules 1203 8.54 205.41 207.75 204.50 205.98 0.57 32239 215.00 165.73 40 - - -

Descon Chemical 1996 - 2.77 2.90 2.70 2.84 0.07 33435 3.74 2.16 - - - -

Descon Oxychem Ltd. 1020 - 7.11 7.45 6.95 7.01 -0.10 1437486 9.25 5.42 - - - -

Dewan Salman 3663 - 2.99 3.08 2.90 2.92 -0.07 570695 4.24 1.47 - - - -

Dynea Pak 94 - 10.31 11.00 10.98 11.00 0.69 791 13.79 9.15 15 - - -

Engro Corporation Ltd 3277 12.15 218.62 222.20 219.10 221.05 2.43 3380875 222.80 177.80 40 - - -

Engro Polymer 6635 - 12.82 13.50 12.83 13.01 0.19 1630736 15.87 12.51 - - - -

Fatima Fertilizer 22000 - 11.87 12.20 11.90 11.98 0.11 1451360 12.64 9.16 - - - -

Fauji Fertilizer 6785 9.25 151.32 153.00 149.80 150.38 -0.94 3098733 157.90 108.00 130 25B - -

Fauji Fert. Bin Qasim 9341 7.80 41.37 41.79 41.11 41.36 -0.01 3987787 43.99 31.56 52.5 - - -

Ghani Gases Ltd 725 8.75 11.77 11.89 11.51 11.55 -0.22 5790 13.07 11.00 - - - -

ICI Pakistan 1388 8.21 143.81 146.30 142.15 145.78 1.97 523818 158.49 131.89 55 - - -

Ittehad Chemical 360 9.82 27.69 26.55 26.31 26.32 -1.37 330 36.00 23.50 5 - - -

Leiner Gelatine 75 - 13.81 14.79 12.81 14.60 0.79 157 20.95 9.99 - - - -

Lotte Pakistan 15142 6.02 15.98 16.51 15.89 16.38 0.40 35364095 16.51 10.93 5 - - -

Nimir Ind Chemical 1106 - 1.96 2.27 1.95 2.21 0.25 3345242 2.74 1.38 - - - -

Shaffi Chemical 120 - 2.18 2.40 2.12 2.40 0.22 598 3.40 2.03 - - - -

Sitara Chem Ind 214 9.23 118.00 115.00 112.10 112.56 -5.44 3222 139.40 104.00 25 5B - -

Sitara Peroxide 551 14.34 13.17 13.49 13.05 13.19 0.02 41144 14.69 12.70 - - - -

United Distributors 92 - 14.30 14.50 14.39 14.39 0.09 117 14.99 8.51 - - - -

Wah-Noble 90 7.10 37.08 37.80 36.75 36.93 -0.15 702 41.99 32.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

903.11 925.93 896.30 905.71 2.60 0.29

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

24,209 - - 3,904.20 mn 30,302.85 mn 923.38

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

6.60 1.47 22.31 44.54 6.75 903.11

Abbott (Lab) 979 8.35 95.46 98.35 94.51 95.31 -0.15 7566 112.50 94.00 20 - - -

Ferozsons (Lab) 250 6.72 88.50 90.00 88.90 89.00 0.50 1588 94.90 82.20 - 20B - -

GlaxoSmithKline 1707 13.71 75.35 77.98 75.00 76.24 0.89 4874 89.98 69.63 - - - -

IBL HealthCare Ltd 200 7.50 9.34 9.50 8.53 9.30 -0.04 2150 9.99 7.16 - - - -

Sanofi-Aventis 96 12.21 153.50 154.40 151.00 153.50 0.00 2897 164.99 116.00 - - - -

Searle Pak 306 5.44 61.88 62.50 60.22 60.54 -1.34 5133 69.00 58.70 30 - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

718.74 732.23 709.73 717.52 -1.22 -0.17

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

33,232 - - 3,242.17 mn 12,504.17 mn 733.33

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

5.50 1.40 25.53 11.08 2.01 713.47

Pak Int Cont.Terminal 1092 7.00 70.06 71.25 69.01 69.97 -0.09 31007 76.65 68.00 40 - - -

PNSC 1321 37.97 35.05 36.00 34.90 34.93 -0.12 2225 39.45 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

Mubarak Tex Mills # 05-Feb 12-Feb - - 9-FebHusein Industries 06-Feb 12-Feb - - 10-FebFirst Cap Mutual Fund # 07-Feb 14-Feb - - 14-FebShaheen Insurance 07-Feb 14-Feb 25 (R) 28-Jan -Redeo Textiles # 07-Feb 14-Feb - - 15-FebUnited Distributors # 08-Feb 14-Feb - - 14-Feb(TFC) Saudi Pak Leasing 10-Feb - - - -Dewan Farooque Motors # 14-Feb 21-Feb - - 21-Feb(TFC) Allied Bank 14-Feb 27-Feb - - -(TFC) Pakarab Fertilizers 15-Feb 28-Feb - - -Int. Ind (Consolidated) 16-Feb 24-Feb 15 (I) 08-Feb -Ideal Energy # 18-Feb 26-Feb - - 26-FebOlympia Spng. Weaving Mills # 18-Feb 26-Feb - - 26-FebMillat Tractors 18-Feb 24-Feb 325 (I) 09-Feb -Shadman Cotton Mills 19-Feb 26-Feb 5 10-Feb 26-FebMehran Sugar Mills 21-Feb 28-Feb 7.5 (I) 10-Feb -Frontier Ceramics 21-Feb 28-Feb - - 28-FebInt. Industries # - - - - 24-FebPakistan Oilfields 22-Feb 01-Mar 100 (I) 11-Feb -Attock Petroleum 24-Feb 04-Mar 115 (I) 15-Feb -

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Climax Eng. 4.1 4 4 4 -0.1 7000

Johnson & Philips 12 12.94 12.25 12.5 0.5 1611

TRG Pakistan Ltd. 3.34 3.55 3.26 3.32 -0.02 1845640

Murree Brewery Co. 93 95.95 93.01 95.95 2.95 1001

Shakarganj Food 1.2 1.2 1 1.19 -0.01 4000

Shezan International 193.89 202.9 196 198.05 4.16 10051

Shifa Int.Hospitals 31.99 32.5 31.02 31.03 -0.96 531

Eye Television 20.2 21.15 19.53 20.19 -0.01 9667

Media Times LtdXR 14.71 15.71 13.71 15.69 0.98 108388

P.I.A.C.(B) 4 3.11 3.1 3.11 -0.89 153

P.I.A.C.(A) 2.3 2.5 2.26 2.47 0.17 106454

Pace (Pak) Ltd. 2.92 3.06 2.86 3.02 0.1 285410

Netsol Technologies 25.74 27.02 26.1 27.02 1.28 1417324

Symbols Open High Low Close Change Vol

Saturday, February 5, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 56.29 points at 12,415.35. Volume was

39 per cent below average and Bollinger Bands were 37 per cent

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

market will see major 1st resistance level at 12,457.25 and 2nd

resistance level at 12,499.15, while Index will continue to find its

1st support level at 12,358.75 and 2nd support level at 12,302.15.

KSE 100 INDEX is currently 17.4 per cent above its 200-day mov-

ing average and is displaying a downward trend. Volatility is

extremely low when compared to the average volatility over the

last 10 trading sessions. Volume indicators reflect volume flowing

into and out of INDEX at a relatively equal pace. Trend forecast-

ing oscillators are currently bearish on INDEX.

RSI (14-day) 57.98 Support 1 12,358.75

MA (5-day) 12,329.91 Support 2 12,302.15

MA (10-day) 12,389.89 Resistance 1 12,457.25

MA (100-day) 11,202.64 Resistance 2 12,499.15

MA (200-day) 10,575.57 Pivot 12,400.65

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.01 at 41.36. Volume was 28 per cent below average

and Bollinger Bands were 7 per cent wider than normal.

FFBL is currently 33.2 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on FFBL.

*Invest Cap 39 Hold

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Neutral

RSI (14-day) 60.89 Free Float Shares (mn) 326.94

MA (10-day) 41.13 Free Float Rs (mn) 13,522.18

MA (100-day) 33.83 ** NOI Rs (mn) 77.08

MA (200-day) 31.06 Mean 41.41

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

Technical Analysis Leverage Position

Engro Corporation

Brokerage House Fair Value Rs Recommendations

Technical Outlook

ENGRO closed up 2.43 at 221.05. Volume was 63 per cent above average

and Bollinger Bands were 4 per cent wider than normal.

ENGRO is currently 18.7 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 ENGRO (mildly bullish). Trend forecasting oscil-

lators are currently bullish on ENGRO.

*Invest Cap 210 Hold

AKD Securities Ltd 229.9 Accumulate

TFD Research 245.4 Positive

RSI (14-day) 69.49 Free Float Shares (mn) 147.48

MA (10-day) 214.24 Free Float Rs (mn) 32,600.80

MA (100-day) 188.42 ** NOI Rs (mn) 180.86

MA (200-day) 186.34 Mean 220.24

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed down -0.94 at 150.38. Volume was 87 per cent above average

and Bollinger Bands were 101 per cent wider than normal.

FFC is currently 32.4 per cent above its 200-day moving average and is

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

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

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

tors are currently bullish on FFC.

*Invest Cap 149 Hold

AKD Securities Ltd 145 Reduce

TFD Research 139.5 Neutral

RSI (14-day) 63.23 Free Float Shares (mn) 373.19

MA (10-day) 151.94 Free Float Rs (mn) 56,120.30

MA (100-day) 119.05 ** NOI Rs (mn) 61.03

MA (200-day) 113.52 Mean 151.13

* 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 0.12 at 66.87. Volume was 60 per cent below average

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

NML is currently 27.0 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bearish on NML.

*Invest Cap 77 Buy

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 53.54 Free Float Shares (mn) 175.80

MA (10-day) 66.05 Free Float Rs (mn) 11,755.74

MA (100-day) 57.27 ** NOI Rs (mn) 68.25

MA (200-day) 52.65 Mean 66.95

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed down -0.24 at 29.18. Volume was 65 per cent below average

(consolidating) and Bollinger Bands were 15 per cent narrower than normal.

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

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

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

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

casting oscillators are currently bearish on DGKC.

*Invest Cap 36 Buy

AKD Securities Ltd 38.14 Buy

TFD Research 36.55 Positive

RSI (14-day) 44.84 Free Float Shares (mn) 200.80

MA (10-day) 29.36 Free Float Rs (mn) 5,859.48

MA (100-day) 28.20 ** NOI Rs (mn) 39.10

MA (200-day) 26.82 Mean 29.32

* 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 0.27 at 77.52. Volume was 62 per cent below average (con-

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

NBP is currently 13.4 per cent above its 200-day moving average and is

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

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

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

forecasting oscillators are currently bearish on NBP.

*Invest Cap 52.4 Sell

AKD Securities Ltd 75.5 Neutral

TFD Research 92.3 Positive

RSI (14-day) 57.21 Free Float Shares (mn) 318.50

MA (10-day) 77.20 Free Float Rs (mn) 24,689.95

MA (100-day) 69.51 ** NOI Rs (mn) 111.42

MA (200-day) 68.33 Mean 77.48

* 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 1.69 at 331.78. Volume was 26 per cent below average and

Bollinger Bands were 52 per cent narrower than normal.

POL is currently 32.8 per cent above its 200-day moving average and is

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

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

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

forecasting oscillators are currently bullish on POL.

*Invest Cap 360 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 381.35 Positive

RSI (14-day) 64.69 Free Float Shares (mn) 107.94

MA (10-day) 327.85 Free Float Rs (mn) 35,813.32

MA (100-day) 273.70 ** NOI Rs (mn) 735.44

MA (200-day) 249.80 Mean 330.97

* 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

1,390.96 1,452.66 1,365.56 1,425.90 34.94 2.51

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

6,690,326 - - 29,771.58 mn 19,278.77 mn 1,425.90

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

19.52 0.43 2.21 162.74 8.34 1,363.04

1st Fid Leasing 264 9.50 1.67 2.34 1.16 1.52 -0.15 50310 2.34 1.16 - - - -

AL-Meezan Mutual F. 1375 8.29 10.00 10.30 9.52 9.95 -0.05 1086698 10.30 6.15 18.5 - - -

Asian Stocks 900 17.50 3.00 4.00 3.00 3.50 0.50 1000 6.00 2.50 8.2 - - -

B R R Guardian Mod. 780 3.50 1.50 1.55 1.40 1.54 0.04 4074 2.79 1.20 0 - - -

Constellation Modaraba 65 2.75 1.26 1.99 1.00 1.21 -0.05 887 1.99 1.00 - - - -

Crescent St Modaraba 200 1.78 0.64 0.75 0.52 0.71 0.07 358 0.87 0.16 1.2 - - -

Elite Cap Modaraba 113 3.75 2.80 3.00 3.00 3.00 0.20 152 3.49 2.05 5 - - -

Equity Modaraba 524 11.56 1.92 2.24 1.75 1.85 -0.07 15507 2.98 1.06 - - - -

First Dawood Mutual F. 581 0.60 1.91 2.00 1.89 1.89 -0.02 3999 2.39 1.61 - - - -

Golden Arrow 760 2.34 3.30 3.29 3.20 3.28 -0.02 45036 3.60 2.56 17 - - -

H B L Modaraba 397 2.72 7.98 8.15 7.60 8.15 0.17 501 9.00 6.13 11 - - -

Habib Modaraba 1008 6.01 7.01 7.00 6.97 6.97 -0.04 50100 7.30 6.00 21 - - -

I B L Modaraba 202 13.82 1.51 2.05 1.25 1.52 0.01 1005 3.69 1.16 3 - - -

JS Growth Fund 3180 71.00 5.52 5.84 5.41 5.68 0.16 118133 6.10 2.99 5 - - -

JS Value Fund 1186 1.35 5.69 5.81 5.30 5.61 -0.08 999155 6.20 2.76 10 - - -

KASB Modaraba 283 2.07 2.90 2.85 2.15 2.81 -0.09 151724 3.50 1.26 2.8 - - -

Meezan Balanced Fund 1200 2.60 8.40 9.25 8.20 9.05 0.65 2161806 9.25 5.15 15.5 - - -

Mod Al-Mali 184 17.50 1.34 1.75 1.50 1.75 0.41 15679 2.50 0.92 - - - -

NAMCO Balanced Fund 1000 6.25 3.98 4.01 3.75 4.00 0.02 899813 4.24 2.71 15 - - -

Nat Bank Modaraba 250 5.56 6.01 6.00 6.00 6.00 -0.01 500 7.74 4.50 10 - - -

Pak Modaraba 125 5.40 1.08 1.18 1.01 1.08 0.00 517 2.00 0.46 3 - - -

PICIC Energy Fund 1000 2.10 7.30 7.30 7.00 7.21 -0.09 112999 7.80 5.31 10 - - -

PICIC Growth Fund 2835 9.29 14.00 14.54 14.10 14.50 0.50 599950 15.06 8.50 20 - - -

PICIC Inv Fund 2841 7.52 6.25 6.70 6.13 6.62 0.37 351983 7.14 4.00 10 - - -

Prud Modaraba 1st 872 2.27 1.00 1.09 1.00 1.00 0.00 13124 1.20 0.81 3 - - -

Stand Chart Modaraba 454 4.67 9.73 9.52 9.51 9.52 -0.21 162 10.29 8.51 17 - - -

Tri-Star 1st Modaraba 212 - 0.81 1.24 1.14 1.24 0.43 104 2.75 0.70 - - - -

U D L Modaraba 264 1.78 6.12 6.25 6.25 6.25 0.13 5000 6.55 5.30 12.5 - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

407.46 423.99 401.54 409.09 1.63 0.40

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

5,331,869 - - 30,336.44 mn 18,959.02 mn 409.09

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

11.76 0.27 0.91 99.56 3.35 386.51

AMZ Ventures 225 1.43 0.66 0.79 0.60 0.63 -0.03 95336 0.95 0.33 - - - -

Arif Habib Investments 360 4.20 20.35 21.36 20.36 21.34 0.99 178942 22.40 16.05 - 20B - -

Arif Habib Limited 450 13.02 25.63 25.90 25.50 25.51 -0.12 43008 28.00 24.61 - 20B - -

Arif Habib Corp 3750 4.77 25.70 26.30 25.70 25.97 0.27 2588160 30.20 23.35 30 - - -

Dawood Cap Mangt. XB 150 1.25 1.60 1.74 1.40 1.40 -0.20 101 2.14 1.15 - - - -

Dawood Equities 250 - 1.78 1.98 1.61 1.81 0.03 49003 2.75 1.28 - - - -

Escorts Bank 441 - 2.69 2.35 2.00 2.35 -0.34 198 3.80 1.90 - - - -

Grays Leasing 215 - 2.01 3.00 2.75 2.95 0.94 14751 3.00 0.18 - - - -

IGI Investment Bank 2121 14.69 2.26 2.75 2.35 2.35 0.09 2005 3.90 2.17 - - - -

Invest and Fin Sec 600 751.00 7.87 8.00 7.45 7.51 -0.36 7001 8.98 6.22 11.5 - - -

Invest Bank 2849 - 0.65 0.69 0.46 0.65 0.00 4040 1.09 0.46 - - - -

Ist Cap Securities 3166 - 3.07 3.40 3.12 3.13 0.06 30481 3.96 2.95 - 10B - -

Ist Dawood Bank 626 0.60 1.68 1.77 1.61 1.68 0.00 5184 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 11.52 11.93 11.43 11.59 0.07 4319270 14.05 10.10 10 - - -

JOV and CO 508 - 3.75 3.82 3.53 3.56 -0.19 400611 4.78 3.51 - - - -

JS Global Cap 500 7.11 26.20 26.99 26.00 26.44 0.24 8462 32.37 25.00 - - - -

JS Investment 1000 27.79 6.79 6.92 6.65 6.67 -0.12 128347 7.59 6.17 - - - -

KASB Securities 1000 - 4.12 4.38 3.80 4.20 0.08 6712 5.43 3.80 - - - -

Orix Leasing 821 4.49 6.21 6.25 6.11 6.11 -0.10 732 7.29 5.51 - - - -

Pervez Ahmed Sec 775 - 1.91 1.95 1.84 1.88 -0.03 36983 2.69 1.84 - - - -

Stand Chart Leasing 978 5.50 2.41 2.64 2.40 2.64 0.23 397 3.00 2.26 - - - -

Trust Brokerage 100 - 3.89 3.02 3.01 3.02 -0.87 292 4.00 1.42 - - - -

Paid up Last 60 days 2010 2011

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

772.52 790.93 767.86 773.50 0.98 0.13

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

39,846 - - 2,290.72 mn 9,109.00 mn 815.09

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

5.53 3.41 3.85 355.53 4.02 770.15

American Life 500 5.85 17.50 17.50 17.50 17.50 0.00 611 19.85 16.03 - - - -

East West Life 500 - 1.93 2.25 1.52 2.25 0.32 1001 4.62 1.52 - 20R - -

EFU Life Assurance 850 35.86 64.00 64.99 62.80 63.12 -0.88 37734 86.95 62.68 - - - -

New Jub Life Insurance 627 29.50 42.54 44.50 43.95 43.95 1.41 500 49.31 40.00 - - - -

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

1,174.82 1,190.15 1,168.53 1,178.22 3.40 0.29

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

15,315,125 - - 257,548.02 mn 711,616.57 mn 1,178.26

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

8.43 1.18 13.94 40.49 4.80 1,158.35

Allied Bank Limited 7821 7.08 71.97 73.00 71.60 72.82 0.85 113038 74.00 55.60 20 - - -

Askari Bank 6427 8.19 17.34 17.59 17.15 17.20 -0.14 196425 19.25 15.30 - - - -

Bank Alfalah 13492 14.58 11.34 11.55 11.32 11.37 0.03 1389897 11.99 9.48 - - - -

Bank AL-Habib 7322 7.78 36.04 36.88 36.00 36.11 0.07 290915 39.49 31.50 - - - -

Bank Of Khyber 5004 5.33 3.98 4.01 3.95 4.00 0.02 6747 4.70 3.62 - - - -

Bank Of Punjab 5288 - 8.13 8.62 8.12 8.36 0.23 8591791 10.59 7.98 - - - -

BankIslami Pak 5280 957.50 3.80 3.89 3.70 3.83 0.03 111530 4.50 3.00 - - - -

Faysal Bank 7327 4.60 14.34 14.59 14.25 14.27 -0.07 58781 17.10 13.55 - 20B - -

Habib Bank Ltd 10019 7.77 124.03 124.85 123.00 124.37 0.34 311317 128.97 102.55 - - - -

Habib Metropolitan Bank 8732 7.94 25.81 26.00 25.89 25.95 0.14 3427 29.28 20.11 - - - -

JS Bank Ltd 8150 - 2.48 2.42 2.35 2.42 -0.06 29000 3.00 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.70 1.80 1.65 1.66 -0.04 108296 2.80 1.49 - - - -

MCB Bank Ltd 7602 10.19 229.10 231.25 227.80 229.83 0.73 825484 250.48 199.00 55 - - -

Meezan Bank 6983 9.87 18.96 18.65 18.56 18.65 -0.31 1460 20.30 14.52 - - - -

Mybank Ltd 5304 - 2.65 2.75 2.55 2.57 -0.08 5854 3.40 1.90 - - - -

National Bank 13455 6.77 77.25 77.95 77.21 77.52 0.27 1631110 80.61 65.11 - - - -

NIB Bank 40437 - 2.75 2.83 2.73 2.74 -0.01 417455 3.35 2.63 - - - -

Samba Bank 14335 - 1.85 1.94 1.80 1.94 0.09 56510 2.17 1.70 -63.46R - -

Silkbank Ltd 26716 - 2.54 2.59 2.45 2.48 -0.06 695601 3.05 2.45 - - - -

Soneri Bank 6023 - 6.99 7.50 6.82 6.92 -0.07 27706 8.48 6.80 - - - -

Stand Chart Bank 38716 11.54 7.34 7.60 7.40 7.50 0.16 23700 9.04 6.40 - - - -

Summit Bank Ltd XR 7251 - 3.40 3.54 3.33 3.40 0.00 217786 4.63 2.70 - - - -

United Bank Ltd 12242 7.90 66.88 67.50 66.51 67.24 0.36 419081 70.65 56.89 10 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

782.20 803.81 779.50 792.74 10.54 1.35

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

3,158,662 - - 11,111.34 mn 48,618.78 mn 792.74

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

12.46 0.65 5.20 79.54 6.39 762.70

Adamjee Insurance 1237 26.46 90.23 91.95 90.40 91.30 1.07 253423 96.40 74.18 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

1,608.02 1,660.45 1,614.61 1,643.21 35.19 2.19

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

4,353,481 - - 12,202.80 mn 35,669.63 mn 1,643.21

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

10.41 1.19 11.41 66.79 6.42 1,539.88

Sui North Gas 5491 8.01 26.79 27.35 26.80 26.90 0.11 208283 34.75 25.71 20 - - -Sui South Gas 8390 3.75 23.90 25.00 24.10 24.91 1.01 4145198 25.01 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,324.20 1,364.08 1,320.20 1,350.66 26.46 2.00

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

5,800,514 - - 95,369.29 mn 110,278.22 mn 1,350.66

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

14.70 1.37 9.35 104.13 7.08 1,291.33

Genertech 198 - 0.80 0.87 0.70 0.72 -0.08 13867 1.18 0.67 - - - -

Hub Power 11572 7.24 38.51 39.75 38.45 39.52 1.01 1364296 41.20 33.40 50 - - -

Japan Power 1560 - 1.59 1.68 1.57 1.59 0.00 99057 2.15 1.50 - - - -

KESC 7932 - 2.67 2.79 2.66 2.70 0.03 139268 3.55 2.10 - 7.8R - -

Kohinoor Energy 1695 10.10 18.95 18.80 18.10 18.18 -0.77 501 22.85 17.95 15 - - -

Kot Addu Power 8803 5.23 42.46 43.60 42.26 43.04 0.58 827256 45.85 39.00 50 - - -

Nishat Chunian Power Ltd 3673 3.68 16.70 17.00 16.56 16.77 0.07 1891268 18.01 13.32 - - - -

Nishat Power Ltd 3541 28.73 17.77 18.00 17.60 17.81 0.04 1407994 18.70 14.25 - - - -

Sitara Energy Ltd 191 3.18 17.30 17.50 16.50 17.03 -0.27 38900 19.35 16.50 20 - - -

Southern Electric 1367 - 2.14 2.24 2.11 2.15 0.01 18012 2.80 2.05 - - - -

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

1,117.64 1,131.57 1,104.24 1,112.45 -5.19 -0.46

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

1,086,894 - - 50,077.79 mn 77,000.75 mn 1,117.64

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

6.04 0.78 12.84 62.56 10.36 1,099.15

Pak Datacom 78 4.88 79.45 78.99 78.30 78.99 -0.46 712 82.99 76.50 80 - - -

Pakistan Telecomm Co A 37740 12.59 18.97 19.15 18.76 18.89 -0.08 710316 20.65 18.19 17.5 - - -

Telecard 3000 0.61 2.05 2.15 2.05 2.06 0.01 124099 2.67 2.01 1 - - -

WorldCall Tele 8606 - 2.69 2.80 2.61 2.65 -0.04 251767 3.45 2.41 - - - -

Wateen Telecom Ltd 6175 - 3.55 3.69 3.52 3.55 0.00 132875 4.65 3.35 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 204 6.60 10.70 11.40 10.60 10.89 0.19 4500 12.75 10.00 - 25R - -

Central Insurance XB 279 7.90 69.00 69.89 68.60 69.49 0.49 1502 83.00 54.10 10 10B - -

Century Insurance 457 6.68 10.03 10.84 10.68 10.68 0.65 500 12.00 9.65 - - - -

EFU General Insurance 1250 - 39.98 41.97 39.50 41.08 1.10 689105 47.90 38.50 - - - -

Habib Insurance 400 3.21 13.75 13.75 13.50 13.50 -0.25 2100 15.50 11.01 - - - -

IGI Insurance 718 17.17 90.43 94.95 91.00 92.53 2.10 8378 99.88 81.10 10 20B - -

New Jub Insurance 791 15.74 59.08 59.00 58.00 58.41 -0.67 4434 61.80 55.08 - - - -

Pak Reinsurance 3000 45.92 17.58 18.40 17.43 17.91 0.33 2190831 19.40 15.36 - - - -

Premier Insurance 303 6.32 11.16 11.74 11.10 11.70 0.54 2266 12.93 9.30 - - - -

United Insurance XB 400 2.21 7.05 6.82 6.70 6.74 -0.31 1500 7.80 5.00 - - - -

Universal Insurance 263 - 2.81 2.50 2.50 2.50 -0.31 101 4.00 2.21 - - - -

UP TO 100 VOLUME

OLSM 1.51 1.70 1.70 1.70 0.19 100

FZCM 62.50 65.45 59.38 59.68 -2.82 90

TSPL 0.95 0.98 0.71 0.97 0.02 73

RMPL 2349.42 2464.00 2300.00 2420.30 70.88 67

AKDCL 44.99 46.70 44.10 44.55 -0.44 54

NESTLE 3405.00 3570.00 3325.00 3405.44 0.44 51

AASM 26.00 27.30 27.20 27.25 1.25 50

TSMF 1.37 1.68 1.15 1.15 -0.22 50

SMCPL 6.50 7.50 6.20 6.81 0.31 48

MIRKS 48.50 50.80 50.69 50.69 2.19 31

AGSML 5.50 4.75 4.65 4.73 -0.77 30

GWLC 6.96 7.08 6.10 6.98 0.02 30

MWMP 1.37 1.44 1.17 1.17 -0.20 30

IDSM 8.25 9.25 7.40 7.45 -0.80 26

ARUJ 4.25 4.50 4.50 4.50 0.25 25

NATM 16.00 15.00 15.00 15.00 -1.00 25

AGIL 70.75 71.10 71.10 71.10 0.35 20

CSIL 5.63 4.63 4.63 4.63 -1.00 20

ICCT 1.23 1.45 1.42 1.42 0.19 20

IDEN 14.99 14.90 14.90 14.90 -0.09 20

KCL 6.80 7.10 7.10 7.10 0.30 20

PAKL 2.00 2.85 2.01 2.85 0.85 20

MLCFPS 4.25 4.17 4.01 4.17 -0.08 18

DIIL 12.91 13.90 11.91 11.91 -1.00 17

MUKT 0.48 0.50 0.18 0.46 -0.02 15

FZTM 423.08 425.00 410.00 420.00 -3.08 13

ZTL 3.40 4.05 3.40 3.98 0.58 13

GATI 44.52 46.74 46.50 46.74 2.22 12

CHAS 9.69 9.80 8.70 9.40 -0.29 11

FNEL 6.81 7.19 6.00 7.07 0.26 11

PECO 146.00 146.00 143.00 144.33 -1.67 11

SAIF 5.49 5.49 5.00 5.49 0.00 11

TICL 59.41 62.38 62.38 62.38 2.97 11

AZAMT 2.55 2.60 2.20 2.50 -0.05 8

CJPL 1.10 1.16 0.61 0.90 -0.20 8

NAGC 16.15 16.38 15.50 16.38 0.23 8

PGCL 23.79 24.90 22.66 22.85 -0.94 8

COLG 935.01 960.00 959.99 960.00 24.99 6

GUSM 5.90 6.23 5.75 5.96 0.06 6

HWQS 19.59 19.70 18.59 19.70 0.11 6

IDYM 250.07 262.52 260.00 262.49 12.42 6

TOWL 10.98 11.96 10.01 10.01 -0.97 6

KOSM 1.10 1.72 1.40 1.40 0.30 5

LEUL 1.90 1.01 1.01 1.01 -0.89 5

SMTM 6.05 6.90 5.80 6.49 0.44 5

CWSM 1.45 1.74 1.05 1.35 -0.10 4

DSML 2.00 3.00 1.20 1.20 -0.80 4

BWCL 12.21 13.21 11.21 12.54 0.33 3

KML 2.70 2.75 2.00 2.48 -0.22 3

CML 2.20 2.49 2.15 2.49 0.29 2

DNCC 2.03 2.50 1.62 2.06 0.03 2

HINO 124.82 125.00 119.41 122.21 -2.61 2

MACFL 3.33 3.33 3.15 3.24 -0.09 2

MTIL 0.45 0.64 0.30 0.47 0.02 2

PRWM 14.00 13.50 13.50 13.50 -0.50 2

RCML 43.00 41.00 41.00 41.00 -2.00 2

SALT 68.40 69.24 64.98 69.24 0.84 2

SAPT 109.00 111.00 111.00 111.00 2.00 2

SHSML 9.20 9.90 9.10 9.50 0.30 2

SSIC 7.20 7.34 7.00 7.34 0.14 2

ZAHT 3.74 2.74 2.74 2.74 -1.00 2

ADAMS 15.35 15.50 15.50 15.50 0.15 1

ALTN 10.85 11.40 11.40 11.40 0.55 1

CLOV 60.12 62.49 62.49 62.49 2.37 1

EMCO 2.89 2.85 2.85 2.85 -0.04 1

FECS 32.01 33.61 33.61 33.61 1.60 1

GRAYS 48.50 48.50 48.50 48.50 0.00 1

GVGL 26.00 24.70 24.70 24.70 -1.30 1

HINOON 27.00 28.00 28.00 28.00 1.00 1

ILTM 110.05 104.55 104.55 104.55 -5.50 1

ISIL 73.96 76.95 76.95 76.95 2.99 1

JVDC 58.98 61.45 61.45 61.45 2.47 1

LAKST 265.07 277.75 277.75 277.75 12.68 1

MQTM 8.25 8.30 8.30 8.30 0.05 1

PCAL 54.50 55.80 55.80 55.80 1.30 1

SFL 113.90 108.21 108.21 108.21 -5.69 1

SGPL 1.29 2.10 1.20 1.20 -0.09 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

FFC-FEB 151.56 152.90 150.17 150.83 -0.73 1778000

FFBL-FEB 41.64 41.99 41.50 41.64 0.00 758000

ENGRO-FEB 219.76 223.25 220.20 222.26 2.50 655500

POL-FEB 330.71 333.50 329.50 332.57 1.86 523500

NBP-FEB 77.80 78.25 77.50 78.06 0.26 358500

DGKC-FEB 29.55 29.75 29.10 29.36 -0.19 345500

ANL-FEB 11.36 11.60 11.20 11.34 -0.02 295000

NML-FEB 67.05 67.70 66.90 67.26 0.21 266000

PSO-FEB 289.68 292.50 285.55 291.17 1.49 247500

BOP-FEB 8.12 8.75 8.29 8.42 0.30 242000

PPL-FEB 213.83 218.00 213.05 216.52 2.69 183000

MCB-FEB 230.74 232.00 228.50 231.36 0.62 142000

AICL-FEB 91.20 92.25 91.00 91.50 0.30 77000

UBL-FEB 67.07 67.85 66.50 67.47 0.40 63500

NCL-FEB 24.65 25.88 25.00 25.85 1.20 61500

NETSOL-FEB 25.71 26.99 26.30 26.95 1.24 47500

LUCK-FEB 72.12 72.15 71.40 71.97 -0.15 38000

PTC-FEB 19.11 19.08 19.00 19.00 -0.11 35000

HUBC-FEB 38.73 39.50 39.40 39.50 0.77 11000

OGDC-FEB 172.97 172.50 172.00 172.50 -0.47 1000

AICL-CAPR 93.81 0.00 0.00 94.87 1.06 0.00

AICL-CFEB 91.13 0.00 0.00 92.16 1.03 0.00

AICL-CMAR 92.32 0.00 0.00 93.37 1.05 0.00

AKBL-CAPR 18.03 0.00 0.00 17.87 -0.16 0.00

Symbols Open High Low Close Change Vol

ZERO VOLUME

EXIDE 197.49 197.00 197.00 197.00 -0.49 0.00

NCLNCP 22.01 23.11 23.11 23.11 1.10 0.00

RICL 6.60 6.61 6.61 6.61 0.01 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 40.75 2.90 2.80 3.05 3.15 3.00

Allied Bank Limited 60.11 71.95 71.05 73.35 73.85 72.45

Attock Cement 11.93 51.35 50.75 52.80 53.60 52.15

Arif Habib Corp 48.56 25.70 25.40 26.30 26.60 26.00

Arif Habib Limited 43.52 25.40 25.25 25.80 26.05 25.65

Adamjee Insurance 51.73 90.50 89.65 92.05 92.75 91.20

Askari Bank 43.01 17.05 16.85 17.45 17.75 17.30

Azgard Nine 54.62 11.15 11.00 11.50 11.70 11.35

Attock Petroleum 64.82 382.50 377.60 391.90 396.40 387.00

Attock Refinery 37.11 120.20 119.35 122.30 123.55 121.45

Bank Al-Falah 53.27 11.25 11.20 11.50 11.65 11.40

BankIslami Pak 50.04 3.75 3.60 3.90 4.00 3.80

Bank.Of.Punjab 30.97 8.10 7.85 8.60 8.85 8.35

Dewan Cement 38.95 1.80 1.70 2.05 2.20 1.95

D.G.K.Cement 44.84 28.95 28.75 29.50 29.80 29.30

Dewan Salman 47.96 2.85 2.80 3.05 3.15 2.95

Dost Steels Ltd 42.10 2.45 2.35 2.65 2.75 2.55

EFU General Insurance 46.13 39.75 38.40 42.20 43.30 40.85

EFU Life Assurance 23.99 62.30 61.45 64.50 65.85 63.65

Engro Chemical 69.49 219.35 217.70 222.45 223.90 220.80

Faysal Bank 40.23 14.15 14.05 14.50 14.70 14.35

Fauji Cement 34.26 4.55 4.50 4.75 4.85 4.70

Fauji Fert Bin 60.89 41.05 40.75 41.75 42.10 41.40

Fauji Fertilizer 63.23 149.10 147.85 152.30 154.25 151.05

Habib Bank Ltd 56.15 123.30 122.20 125.15 125.90 124.05

Hub Power 57.97 38.75 37.95 40.05 40.55 39.25

ICI Pakistan 48.08 143.20 140.60 147.35 148.90 144.75

J.O.V.and CO 35.58 3.45 3.35 3.75 3.95 3.65

Japan Power 41.97 1.55 1.50 1.65 1.70 1.60

JS Bank Ltd 45.89 2.35 2.30 2.45 2.50 2.40

Jah Siddiq Co 44.21 11.35 11.15 11.85 12.15 11.65

Kot Addu Power 51.90 42.35 41.65 43.70 44.30 42.95

K.E.S.C 42.89 2.65 2.60 2.80 2.85 2.70

Lotte Pakistan 66.36 16.00 15.65 16.65 16.90 16.25

Lucky Cement 41.56 70.95 70.55 71.90 72.40 71.50

MCB Bank Ltd 50.94 228.00 226.20 231.45 233.10 229.65

Maple Leaf Cement 37.58 2.55 2.50 2.70 2.75 2.65

National Bank 57.21 77.15 76.80 77.90 78.30 77.55

Nishat (Chunian) 68.72 25.05 24.35 26.15 26.50 25.45

Netsol Technologies 70.48 26.40 25.80 27.30 27.65 26.70

NIB Bank 38.94 2.70 2.65 2.80 2.85 2.75

Nimir Ind.Chemical 63.65 2.00 1.80 2.35 2.45 2.15

Nishat Mills 53.54 66.50 66.15 67.35 67.85 67.00

Oil & Gas Dev. XD 51.77 172.00 171.30 173.40 174.10 172.70

PACE (Pakistan) Ltd. 52.07 2.90 2.80 3.10 3.20 3.00

Pervez Ahmed Sec 38.66 1.85 1.80 1.95 2.00 1.90

P.I.A.C.(A) 54.30 2.30 2.15 2.55 2.65 2.40

Pioneer Cement 50.71 6.80 6.65 6.95 7.05 6.85

Pak Oilfields 64.69 329.50 327.25 333.50 335.25 331.25

Pak Petroleum 49.84 212.85 210.55 217.35 219.55 215.05

Pak Suzuki 38.58 63.80 62.20 68.20 71.00 66.60

P.S.O. XD 42.66 285.40 281.50 292.10 294.90 288.20

P.T.C.L.A 42.86 18.70 18.55 19.10 19.30 18.95

Shell Pakistan 58.63 213.05 211.05 218.05 221.00 216.05

Sui North Gas 44.65 26.70 26.45 27.25 27.55 27.00

Sitara Peroxide 44.24 13.00 12.80 13.45 13.70 13.25

Sui South Gas 70.98 24.35 23.75 25.25 25.55 24.65

Telecard 37.15 2.05 2.00 2.15 2.20 2.10

TRG Pakistan 47.69 3.20 3.10 3.50 3.65 3.40

United Bank Ltd 51.29 66.65 66.10 67.65 68.05 67.10

WorldCall Tele 43.92 2.60 2.50 2.75 2.90 2.70

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

BankIslami Pakistan Ltd 07-Feb 4:00

Habib ADM Limited 07-Feb 10:30

Engro Polymer Ltd 07-Feb 9:30

Tandlianwala Sugar Mills 07-Feb 5:00

Pakistan Int Con Ter Ltd 07-Feb 12:00

Zeal-Pak Cement Ltd 07-Feb 3:00

Ansari Sugar Mills Ltd 07-Feb 10:00

NI(U)T Fund 08-Feb 12:00

NIT Govt. Bond Fund 08-Feb 12:00

NIT Income Fund 08-Feb 12:00

Cherat Papersack Ltd 09-Feb 3:00

Pakistan State Oil Co. Ltd 09-Feb 10:00

NetSol Technologies Ltd 09-Feb 12:00

Mubarak Textile Mills Ltd 09-Feb 3:00

Shifa Int Hospital Ltd. 09-Feb 10:00

MCB Bank Limited 10-Feb 10:30

IGI Investment Bank 10-Feb 2:00

Sanofi Aventis Pak Ltd 11-Feb 3:30

Tri-Pack Films Ltd 12-Feb 11:00

Unilever Pakistan Limited 14-Feb 2:30

BOARD MEETINGS

Company Date Time

Saturday, February 5, 2011 8

Urmilaturns 37

Bollywood actor UrmilaMatondkar, whobecame a rage after her

Rangeela performance in the1995 film, turns one year olderon 4th February. She becomes37.

The dancing beauty ofBollywood, who will also beremembered for her criticallyacclaimed portrayal of thecharacters of psycho killers, isbusy these days judging ashow titled- 'Chak DhoomDhoom'.

Interestingly, it is speculatedthat the actor who has passedher peak years in B-town,knocked out the Hisss girl,Mallika Sherawat to becomethe judge of the show, mediareports said.

Earlier, she had also judgedthe popular celebrity dancereality show called 'JhalakDikhla Jaa'.

Avatardirector topsHollywood

rich list

Acclaimed filmmakerJames Cameron hasreportedly topped a list

of Hollywood's top earners of2010 after taking home a stag-gering $257 million last year.

The "Avatar" director earnedthe estimated figure for writ-ing, producing and directingthe 3-D blockbuster, reportscontactmusic.com.

Actor Johnny Depp followedwith earnings of $100 million.Steven Spielberg is third with$80 million. DirectorChristopher Nolan and his"Inception" star LeonardoDiCaprio round up the top fivewith earnings of $71.5 millionand $62 million respectively.

KhayyamSarhadipassesaway

Famous television, filmand stage actorKhayyam Sarhadi

passed away of a heart attackin lahore on Friday.

According to detailsKhayyam Sarhadi was at hishome when he suffered a car-diac arrest and did not regainconsciousness. He was a leg-endary actor who worked somagnificently on stage, TVand film. He was the son ofrenowned artist Zia Sarhadiand husband of film star Saiqa.His funeral prayer will beoffered in DHA.

Malika Pukhraj’s7th death

anniversarytoday

The 7th death anniver-sary of the most emi-nent singer Malika

Pukhraj is being observedtoday.

Malika Pukhraj was born inMirpur ( Jammu and Kashmir)and started training in her veryearly age. At nine she visitedJammu and performed at coro-nation ceremony of MaharajaHari Singh, who got soimpressed by her voice thatshe appointed a court singer inhis Durbar and stayed therefor another nine years. Overthe next 8 decades she capti-vated her audience with hercommand over the singinggenres of Thumri, Ghazal,Bhajan and folk Pahari Geet,including Dogri folk songs.She was among the greatestsingers of British India in the1940s, and after partition ofIndia in 1947, she migrated toLahore and received furtherfame, through her radio per-formances.

The ICC Cricket WorldCup, which starts on 19thFebruary, might be an eventof epic proportions for anation which is cricket crazybut it will have it's sideeffects, and the film industryis expected to be the first vic-tim as it's the business offilms which takes a hit when

cricket matches are going onin full swing.

However, given the impres-sive line up for February, itappears that Bollywood too isprepared to take this battlehead on.

The first week of February,that is 4th will see the releaseof two very promising films,

Sudhir Mishra's ChitrangadaSingh and Irfaan Khan starrer,Yh Saali Zindagi and theVinay Pathak, Mona Singhand Mahie Gill's comedythriller, Utt Pataang.

Both the films are made forthe niche audience whichshould patronize them andcarry forward Bollywood's

winning march. February 11will witness the release ofAkshay Kumar-AnushkaSharma's Nikhil Advanidirected, Patiala House.

February 18 will see therelease of Vishal Bhardwaj's 7Khoon Maaf.

With Priyanka Chopraalready wooing the audience

with her "Daaarling" songcoupled with the fact that thefilm is a Vishal Bhardwajproduct, the prospects of 7Khoon Maaf are certainlybright. Last but not the least isMadhavan and Kangna's TanuWeds Manu, and from thepromos one can easily saythat the film is a romantic

comedy with a difference. Well, let us hope that the

good business that films gen-erated in January continueseven in February so that theindustry which had incurredso much loss last year is ableto flourish and prosper forthe betterment of all con-cerned.

Despite world Cup, Feb appears promising for Bollywood!

Aamir Khan is excitedthat Kiran Rao's direc-torial debut ''Dhobi

Ghat'', which he produced andacted in, has unexpectedlyfared well at the box office andearned double the amountinvested in it.

"I am very happy with'Dhobi Ghat' collection. Filmslike 'Dhobi Ghat' are reallybreaking grounds. It's a veryunusual film and the kind ofbusiness it has done is huge forthis kind of film. The kind ofbudget the film was made at,it's a very successful film. Itmade double the money it hadcost us to make the film," saidAamir Wednesday at a pressconference.

Set in Mumbai,"DhobiGhat", made with a budget ofRs.50 million ($1 million),earned Rs.93 million in thefirst two days. Kiran roped innewcomers Monica Dogra,Kriti Malhotra, one-film-oldPrateek Babbar along with herveteran husband to show thecity in its true colours throughthese four character who comefrom very different back-grounds.

Aamir expected extremereactions for the film fromaudience.

"I am also very happy with

the response because I alwaysfelt that there would be twokinds of responses for 'DhobiGhat'. There would be peoplewho would just not get thefilm, who won't understand it,who won't know why we madeit, and there will be people whowould really love it as it wouldtouch them," said Aamir.

Asked if he would be doingmore films like "Dhobi Ghat",he said: "Of course, definitely.I want to make all kinds offilms. Along with big main-stream films like 'Dhoom 3' orone I am doing with Reema(Kagti) and along with that Iwould love to make socialfilms like 'Peepli Live' or'Taare Zameen Par' or 'DhobiGhat', which are absolutely dif-ferent kinds of films."

Dhobi Ghatraked in

double itscost: Aamir

Ranveerdenies paying

Rs10 Crorefor debut

Ranveer Singh, who hasbecome the talk of thetown after his first

release Band Baaja Baaraat,has vehemently denied the alle-gations that his dad paid Rs10crore for his debut film.

It must be mentioned thatafter Ranveer's envious suc-

cess, his detractors are heatingup the case against him. Manyhave even gone to the extent oflabeling him as an actor whohas made it big after coughingup Rs 10 crore.

Ranveer on his part is aghastat these rumours. Says he,"Bullshit. My dad was goingthrough a very lean period.There was no question of himhaving paid money to anyone.These are all rumours."

Though these rumours mightbe disturbing, but Ranveer islevel-headed in dealing withthese allegations. The actor ismaking sure that these distrac-tions don't bother him in hispursuit to stardom.

Priyanka Chopra is onesuch actor, who can befitany role or carry off any

given character with ease. Andit well proves with her upcom-ing film 7 Khoon Maaf, whereshe essays the role of a ladywho has 7 husbands. However,what is drawing everyone'sattention is how Priyankamanaged to do intimate sceneswith numerous men at thesame time or how was thatequation for her.

Nevertheless, Priyanka ispretty cool about it and has herpoint to prove. 'First of all youare talking about marriagesand I don't know any marriagewithout intimacy. Above thatif you're going to show loveand pain it comes along withlot of other emotions. It'snever an isolated emotion withonly hatred or love or anger orintimacy being there. So whenit comes to enacting any scene,I am an actor and I am doingmy job. I am playing the char-acter to as much of my com-fort as I could. I made myselfcomfortable with everybody.'

Though she shares a sizzlingchemistry with each of theactors in the film, Priyankawas highly compatible withJohn Abraham, who plays hersecond husband in 7 KhoonMaaf.

'I was most compatible withJohn as I have done three filmswith him now. I knew him wellso there was no question ofgetting to know each other,'reveals priyanka. Whilst shealso shares her tuning withother co-stars of the film 'WithNeil and Vivaan I got alongreally well because we wereon board right from the begin-

ning. Alex was infact reallyfun on the sets. When he camedown from Russia he was real-ly friendly and he used to bevery fun-loving. Irrfan wasone actor from whom I got tolearn a lot. I tremendouslyrespect him as an actor. AnnuSir, I always knew as he is mydad's good friend,' says thepretty lady.

Priyanka is ecstatic to haveworked with stalwart ofBollywood - NaseeruddinShah. 'It was very nerve-rack-ing initially because I havenever worked with him. But asI did a workshop with Naseersir right before the film began,it really helped me. Naseer siris truly an institution of cine-ma in himself,' says the 28year old actress.

National award winnerPriyanka Chopra, who hasproven her mettle time andagain has not let the successget into her head. 'I don't con-sider myself as good an actoras most of the people I haveworked with on this film,' con-cludes the self-effacingactress.

Marriage cant be withoutintimacy: Priyanka

The Harry Potter movieswill receive a BAFTAaward, Britain's equiva-

lent of the Oscars, for theircontribution to cinema, organ-izers said on Thursday.

The award for OutstandingBritish Contribution toCinema will be presented atthe main BAFTA prize cere-mony in London on February13 to J.K. Rowling, best-sell-ing author of the original wiz-ard stories, and series producerDavid Heyman.

The first seven films haveamassed around $6.4 billion atthe global box office, accord-ing to ticket tracking site

www.boxofficemojo.com. Thefinal installment, "Harry Potterand the Deathly Hallows: Part2," is due out on July 15.

The films have been nomi-nated for several Oscars, intechnical or musical cate-gories, but have yet to scoop astatuette.

Harry Potter fans, and somecast members, have ques-tioned why the phenomenonhas been overlooked for themovie world's top accolades,particularly in major cate-gories like acting and direct-ing.

But BAFTA said in a state-ment: "The Harry Potter

films have not only createdstars in front of the camera,but have also highlighted theexpertise within the Britishcraft and technical indus-tries, supporting a vast arrayof jobs throughout produc-tion."

Heyman added: "On behalfof the over 2,000 people whoworked in front of and behindthe camera on each of theHarry Potter films I would liketo say how honored we all areto receive this Award.

"And thank you to JoRowling for entrusting us tobring her magnificent books tothe screen."

Harry Potter films to receiveBAFTA cinema award

Aamir Khanto play

villain inDhoom 3

Bollywood Mr.Perfectionist AamirKhan is all set to play

villain in one of the most suc-cessful series in Bollywood,'Dhoom'.

After John Abraham andHrithik Roshan, its Aamir'sturn to play the villain in YashRaj's 'Dhoom 3', the third onein the 'Dhoom series'.

"It is indeed a pleasure to beworking with Yashji (YashChopra) and Adi (AdityaChopra) once again. Dhoomis a great franchise. Everytime I hear the theme tune ofDhoom it brings a swing tomy step. Victor's script reallywon me over and I look for-ward to working with himand sharing screen space withJai and Ali", Aamir said.

Dhoom 3 will be Aamir'ssecond film with Yash Rajbanner after Fanaa, where heplayed a terrorist.

Abhishek Bachchan andUday Chopra will continueplaying their roles of Jai Dixitand Ali.

Produced by AdityaChopra, Dhoom 3 will bedirected by Vijay KrishnaAcharya, who is the writer ofall three Dhoom films. Thefilm will begin shooting bythe end of this year and isslated for a 2012 Christmasrelease.

MUMBAI: Indian Bollywood film director Kiran Rao shakes hands with Dev Anand as actor

Aamir Khan , his brother Faizal Khan and mother Zeenat look at the premier

of Dev Anands re-release of classical hindi film 'Hum Dono' premier.-Reuters

MUMBAI: Indian Bollywood actress Sonal Singh Chauhan walks the ramp during a

showstopper during an event for Schwarzkopf Professional in Mumbai.-Reuters

LONDON: Gold retreats fromearlier two-week highs, easing inline with softening oil prices, asthe financial markets digestmixed US non-farm payrollsdata, but the metal remains ontrack for their first weekly climbthis year.

Gold bid at $1,347.70 anounce at 1615 GMT against$1,353.25 late in New York onThursday, havingearlier touched ahigh of $1,357.93.

The data showedprivate employersadded just 36,000jobs in Januaryrather than anexpected 145,000,though the unemployment ratefell to its lowest level since April2009.

"I think the market's con-fused," said Credit Agricole ana-lyst Robin Bhar. "On the onehand we didn't get any rise tospeak of in the payrolls, but wegot a big fall in the unemploy-ment rate, and a big gain themanufacturing sector."

"But then we got a fall in theconstruction sector, so there area lot of mixed messages beingsent out."

The euro extended losses tosession lows against the dollarafter the data, and was on trackfor a third negative session.Usually a consequently strongerdollar would weigh on gold, butthe correlation between the twohas weakened this year.

Traders said the jobs picturemay have been temporarily dis-torted by big storms in the

United States."At face value the payroll data

looks negative, but with revi-sions and weather maybe not asbad," said Tom Bentz, a brokerat BNP Paribas CommodityFutures Inc in New York.

Gold is on track for a positive

start to February, having posteda strong session on Thursdayafter comments from FederalReserve chairman Ben Bernankewere taken to indicate that USmonetary policy would stayaccomodative.

Gold holdings of exchange-traded funds also inched higher,with those of the largest, NewYork's SPDR Gold Trust, edging

up just overtwo tonneson Thursday.

Silver bidat $28.87 anounce against$ 2 8 . 9 1 .Holdings ofthe largest

silver ETF, the iShares SilverTrust, fell more than 30 tonnes totheir lowest since November onThursday.

Platinum bid at $1,844.24 anounce versus $1,834.99 whilePalladium bid at $816.47 anounce against $817.22. -Reuters

Gold eases from 2-wk highas markets digest US data

9Saturday, February 5, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1250

January (3rd Wednesday) 1310 1255

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for February 03 2011

LME Official Prices, US$ per tonne for February 03 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2325 2515 9950 2641.5 27775 30650 2455 2470

Cash seller 2345 2516 9950.5 2642 27780 30700 2458 2475

3-months buyer 2290 2534.5 9940 2577 27775 30625 2475 2490

3-months seller 2310 2535.5 9941 2580 27780 30650 2476 2495

15-months buyer 2210 2590 9685 2520 26570 30115 2490 2530

15-months seller 2220 2595 9695 2525 26670 30165 2495 2540

27-months buyer 2210 2635 9295 2465 25155 2450 2585

27-months seller 2220 2640 9305 2470 25255 2455 2595

LONDON METAL EXCHANGE (METALS)

LONDON: Crude oil futuresremained firm on Friday afterUS data showed a smaller-than-expected gain in non-farm pay-roll jobs but a fall in the unem-ployment rate, while focusremained on Egypt as protestsrolled into their 11th day.

US crude was up 79 cents at$91.33 a barrel by 1522 GMT.Brent crude for March rose by24 cents to $102.0 a barrel.

The market digested mixedjobs data from the world's largestconsumer, the United States, butthe focus remained on Egyptwhere protesters continued tocamp in Cairo's Tahrir Squaredemanding President HosniMubarak leave office.

The protests are the latest in awave of unrest in the MiddleEast and north Africa, whichtogether produce more than onethird of the world's oil, and thathas recently propped up oilprices.

"Everybody is watching whatis happening in Egypt, it seemsto be a crucial day," CreditAgricole CIB analyst ChristopheBarret said.

Analysts said prices were like-ly to remain strong while theprotests continue.

"The OPEC president has said

that oil above $100 is not desir-able but while Middle Eastunrest continues prices willprobably hold around here,"

Bache Commodities analystChristopher Bellew said. "Theterrible fear must be of thisunrest spreading to a major pro-ducing country like Saudi."

Data from the world's largestoil consumer showed that USnonfarm payrolls grew by36,000, well below forecasts fora rise of 145,000 as the severeweather conditions impacted thehiring process, but the unem-ployment rate fell to its lowest

level since April 2009. "At face value, the payroll data

looks negative, but with revi-sions and weather maybe not asbad," Tom Bentz, broker at BNPParibas commodity futures inNew York said.

"Meanwhile markets are stillconcerned about Egypt unrestcontinuing. Traders may still beconcerned about being shortahead of weekend."

The rise in prices across thecommodities spectrum andthroughout other asset classeshas sparked worries that riskappetite is getting too big, warn-ing that political unrest could beone of the many triggers for acorrection.

Front-month Brent has ralliedby more than $7 since unrest inEgypt started, up from about $95a barrel on Jan. 25. That 8 percent gain is more than a third oflast year's total increase of 22per cent. Brent touched $103.37on Thursday, its highest intradayprice since Sept. 26, 2008.

JBC Energy consultants saidin a note the rise in crude oilprices is however being over-shadowed by the increase inother commodities such as cop-per and world food prices. -Reuters

Crude oil firms up afterUS jobs; focus on Egypt

Europeanvegetableoil prices

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

SOYOIL: EU degummedeuro tonne fob exmillMay11/Jul11 1025.00-5.00,Aug11/Oct11 1030.00-3.00,Nov11/Jan12 1035.00-2.00.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul111040.00-10.00, Aug11/Oct111000.00-5.00, Nov11/Jan121010.00+0.00, Feb12/Apr121015.00+0.00.

SUNOIL: EU dlrs tonneextank six ports option Feb111490.00+0.00, Mar111490.00+0.00, Apr11/Jun111480.00+0.00, Jul11/Sep111490.00+0.00, Oct11/Dec111420.00+10.00.

LINOIL: Any origin dlrstonne extank RotterdamFeb11/Mar11 1575.00-7.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Jan111315.00-15.00, Feb11 1317.50-12.50, Mar11 1317.50-2.50,Apr11/Jun11 1300.00+0.00,Jul11/Sep11 1277.50-2.50.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamFeb11/Mar11 2280.00-20.00,Mar11/Apr11 2245.00-5.00,Apr11/May11 2225.00+5.00,May11/Jun11 2215.00+15.00.

PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Feb11/Mar112280.00, Mar11/Apr112260.00, Apr11/May112225.00. -Reuters

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

Date Quotation in lots Settlement Settlement in Lots

Price Price

4-Feb-2011 CRUDE100 MA11 US$ Per Barrel 91.70 91.70 90.10 90.98 480 90.90 90.98 63

4-Feb-2011 CRUDE100 AP11 US$ Per Barrel 94.08 94.34 92.92 93.61 125 93.51 93.61 49

4-Feb-2011 CRUDE100 MY11 US$ Per Barrel 96.32 96.32 95.63 95.63 - 95.55 95.63 3

4-Feb-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 28.20 28.97 27.99 28.87 220 28.82 28.87 29

4-Feb-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 28.21 28.88 28.21 28.88 - 28.83 28.88 2

4-Feb-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1328.40 1356.00 1325.60 1348.70 4,349 1351.30 1348.70 1,605

4-Feb-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1329.20 1356.00 1326.00 1349.10 3,626 1351.70 1349.10 1,350

4-Feb-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1329.50 1357.00 1326.60 1349.80 1,872 1352.40 1349.80 664

4-Feb-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1328.90 1348.70 1328.90 1348.70 - 1351.30 1348.70 -

4-Feb-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1329.50 1355.10 1327.20 1349.10 91 1351.70 1349.10 11

4-Feb-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1329.90 1349.10 1329.90 1349.10 - 1352.40 1349.80 -

4-Feb-2011 GOLD FE11 Per 10 grms 36772.00 37399.00 36684.00 37246.00 13 37321.00 37246.00 13

4-Feb-2011 GOLD MA11 Per 10 grms 36693.00 37255.00 36693.00 37255.00 - 37330.00 37255.00 1

4-Feb-2011 GOLD AP11 Per 10 grms 36736.00 37399.00 36709.00 37272.00 3 37347.00 37272.00 82

4-Feb-2011 KILOGOLD FE11 Per 10 grms 36656.00 37219.00 36656.00 37219.00 - 37293.00 37219.00 1

4-Feb-2011 KILOGOLD MA11 Per 10 grms 36665.00 37228.00 36665.00 37228.00 - 37302.00 37228.00 -

4-Feb-2011 TOLAGOLD50 FE11 Per Tola 42755.00 43411.00 42755.00 43411.00 - 43498.00 43411.00 -

4-Feb-2011 TOLAGOLD100 FE11 Per Tola 42755.00 43411.00 42755.00 43411.00 - 43498.00 43411.00 -

4-Feb-2011 MINIGOLD MON Per 10 grms 37715.00 38271.00 37715.00 38271.00 - 38346.00 38271.00 -

4-Feb-2011 MINIGOLD TUE Per 10 grms 37754.00 38311.00 37754.00 38311.00 - 38386.00 38311.00 -

4-Feb-2011 MINIGOLD WED Per 10 grms 37767.00 38324.00 37767.00 38324.00 - 38399.00 38324.00 -

4-Feb-2011 MINIGOLD THU Per 10 grms 37780.00 38338.00 37780.00 38338.00 - 38413.00 38338.00 -

4-Feb-2011 MINIGOLD FRI Per 10 grms 37702.00 38351.00 37702.00 38351.00 - 38426.00 38351.00 -

4-Feb-2011 TOLAGOLD MON Per Tola 44000.00 44500.00 43324.00 43973.00 3 44061.00 43973.00 10

4-Feb-2011 TOLAGOLD TUE Per Tola 44563.00 44563.00 43369.00 44019.00 9 44107.00 44019.00 3

4-Feb-2011 TOLAGOLD WED Per Tola 44200.00 44350.00 43384.00 44034.00 2 44122.00 44034.00 -

4-Feb-2011 TOLAGOLD THU Per Tola 44620.00 44620.00 43399.00 44050.00 1 44137.00 44050.00 1

4-Feb-2011 TOLAGOLD FRI Per Tola 44450.00 44480.00 43309.00 44065.00 31 44152.00 44065.00 31

4-Feb-2011 IRRI6W 10FE11 Per 100 kg 3200.00 3207.00 3200.00 3207.00 - 3200.00 3207.00 -

4-Feb-2011 RICEIRRI - 6 FE11 Per 100 kg 3213.00 3213.00 3212.00 3212.00 - 3213.00 3212.00 -

4-Feb-2011 RBD PALMOLEIN FE11 Per Maund 5473.00 5481.00 5473.00 5481.00 - 5473.00 5481.00 -

4-Feb-2011 KIBOR3M 11-Mar Per Rs. 100 86.18 86.19 86.18 86.19 - 86.18 86.19 -

4-Feb-2011 KIBOR3M 11-Jun Per Rs. 100 85.46 85.48 85.46 85.48 - 85.46 85.48 -

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

Tokyo rubber

hits record highBANGKOK: Tokyo rubberfutures jumped to anotherrecord high on Friday on theback of firm oil prices and sup-ply worries, but profit-takingcapped gains, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for July delivery rose13.0 yen to settle at 502.9 yen($6.16) per kg. It rose as highas 504.0 yen per kg beforeprofit-taking set in.

Dealers said rubber futurescould rise further next weekafter prices finished above thepsychological level of 500 yenas concern over a fall in supplyshould provide support.

Supply in the world's top twoproducing countries, Thailandand Indonesia, is due to fall sig-nificantly in February andMarch when the two countriesare due to be in the dry seasonand rubber trees stop producinglatex. The offer price for Thaibenchmark RSS3 rubberremained at a record high onFriday. -Reuters

RAYONG - THAILAND: Somporn Klaharn, 56, and his wife Thongshin, 49 work together in

their small processing plant pressing sheets of rubberin Rayong, Thailand. -Reuters

LONDON: Copper rose onFriday to a record high after datashowing US unemployment fellto its lowest rate since April2009, adding to signs of improve-ment in the world's largest econo-my.

Copper for three-months deliv-ery on the London MetalExchange closed at $10,050 atonne, after touching a recordhigh $10,100. It closed at $9,930a tonne on Thursday.

Copper initially fell after datashowing US nonfarm payrollsgrew far less than expected inJanuary, partly due to severesnow storms in large parts of thecountry. But the focus soonturned to figures showing theunemployment rate fell to its low-est level since April 2009.

"Sluggish job creation figureswere balanced out by a largerthan expected fall in unemploy-ment which has kept the basemetals bullish momentumunchanged," said Kamil Wlazly, ametals analyst at Metal BulletinResearch. "The monthly changesand the revisions in payrolls canbe quite volatile, therefore themarket looked more favourablyon positive unemployment data."

On Thursday, US data includedbetter-than-expected weeklyADP jobs figures and non-farmproductivity figures, as well as arise in new orders received byfactories in December.

"Market participants looked atthe (non-farm pay roll) data andcame to the conclusion that theADP data released two days ago

was more important," saidCommerzbank analyst EugenWeinberg. "Risk appetite is stillhigh. In general we have seenvery good economic data."

The jobs numbers are amongthe most keenly watched eco-nomic indicators from the world'ssecond-biggest copper consumerafter China.

Tin also rose to a record high$31,300, led by copper. Tin forthree-months delivery closed at$31,200 from a close of $30,545a tonne on Thursday.

"This buying has to be specula-tive buying. It is fresh fund buy-ing," said Alex Heath of RBCCapital Markets. "Once you gothrough record highs you attractfresh money immediately. It isthe same pattern for all metals."

Trade was thin as the LunarNew Year holidays that started onWednesday shut markets in topbase metals consumer China.

Stocks of copper at LME ware-houses last fell 325 tonnes to394,150 tonnes, a small declinebut a bit of respite after recentinventory rises that have dentedthe demand outlook.

Aluminium closed at $2,541 atonne from $2,528. Zinc closed at$2,506 a tonne from $2,472 andbattery material lead finished at$2,584 a tonne from $2,554.5.Stainless steel metal nickel was at$28,350 a tonne from $28,040.Nippon Steel Corp and SumitomoMetal Industries planned to createthe world's No. 2 steelmaker, fan-ning expectations of further con-solidation in the industry. -Reuters

Copper hits recordhigh; positive

US data mount up

NEW YORK: US cotton futuresclosed sharply lower in volatiletrading on Thursday, as profittaking pulled the market off itslatest record high on a day whenthe ICE Futures US exchangemoved to curb speculation.

Cotton futures closed with thebiggest one-day decline sinceearly December, ThomsonReuters data showed. The markethad surged almost 30 per centsince the middle of January to thehighest level in almost 150 years.

The key March cotton contracton ICE Futures US slid 4.36cents to close at $1.7186 per lb.The price swung wildly from$1.8122, up the 5 cent limit, to$1.7122, down the 5 cent limit.

Total volume hit 50,500 lots,the most in 2-1/2 months andmore than 150 per cent above the30-day norm, Thomson Reuterspreliminary data showed.

Analysts said many investorsliquidated long market positions

on a day that ICE moved to tight-en control of positions in the spotcontract before delivery.

Separately, the CFTC approvedan expansion in the daily tradinglimits.

"Spec attitudes are they havemade a lot of money and theheightened awareness that boththe exchange and CFTC are nowgoing to be getting involvedencouraged some selling," saidMike Stevens, an independentanalyst from Mandeville,Louisiana.

The market jumped early onpanic buying as tight suppliesforced overseas mills to scramblefor cotton, dealers said.

There is also a large on-callposition in the market from cot-ton buyers who purchased thefiber but now need to fix the priceof their cotton.

"Finally, we did enough (in therally) to get folks long enough,"said Sharon Johnson, senior cot-

ton analyst for brokerage PensonFutures in Atlanta, Georgia.

The market will now turn itsattention to industry group theNational Cotton Council ofAmerica which will release itsannual plantings survey for cot-ton at its annual meeting in SanAntonio, Texas on Saturday.

The data is normally handedout late on Friday, but the NCCsaid it will instead be released onSaturday around 1530 GMT.

A Reuters survey at theBeltwide Cotton conference thismonth had forecast US 2011 cot-ton plantings from 12.48 millionto 12.53 million acres, a 5-yearhigh and an increase of around 15per cent from last year's cottonsowings of 11.04 million acres.

The United States is the biggestfiber exporter in the world andthe anticipated increase in plant-ings is seen by some in the tradeas not enough to meet robustglobal cotton demand. -Reuters

US cotton ends sharplylower after hitting record

Raw sugarprobes near30-year high

LONDON: Raw sugar futuresrose on trade and investor buyingon Friday, buoyed by a scaled-back forecast for Indian sugaroutput, while coffee futuresretreated from near 13-1/2-yearpeaks.

Cocoa drifted further from lastweek's one-year high, in a tightrange as traders ponderedwhether a call for a month-longexport ban in top grower IvoryCoast would be extended.

Raw sugar futures rose asmuch as 3.8 per cent, drawing towithin sight of 30-year peaks,after an Indian state cut its outputview for the country's 2010/11sugar crop to 24 million tonnes,below government estimates.

ICE March raw sugar was up0.34 cent or 1.1 per cent at 32.38cents a lb at 1546 GMT, recover-ing from its biggest one-day lossin a month on Thursday, andbelow the 30-year peak of 36.08cents touched on Wednesday.

March white sugar was down$25.30 or 3.1 per cent at $788.90per tonne in modest volume,below Wednesday's record highof $857.00 per tonne, as the con-tract caught up with the drop inNew York after London marketsclosed.

Coffee moved further awayfrom its recent 13-1/2-year highafter tracking gains in other com-modities for three days.

March arabica coffee futureson ICE dipped 1.35 cents or 0.5per cent at $2.5000 per lb at 1546GMT after touching a 13-1/2-year peak of $2.5360 a lb onThursday.

Liffe May robusta coffee trad-ed down $12 or 0.5 per cent at$2,256 per tonne, belowThursday's 2-1/4-year high of$2,287 a tonne.

In cocoa, futures on ICE fell inlight volumes, drifting furtherfrom last week's one-year high.ICE benchmark March cocoadropped as much as 3.5 per centand later stood at $3,270 pertonne at 1546 GMT, down $88 or2.6 per cent. It stood below lastweek's one-year peak of $3,420per tonne.

London May cocoa fell 36pounds or 1.7 per cent to 2,137pounds a tonne, below a six-month peak of 2,269 pounds atonne touched on Jan. 24. -Reuters

MUMBAI: Indian sugar futuresfell sharply in an active trade onFriday tracking overnight drop inthe overseas markets and onhigher supplies, dealers and ana-lysts said.

New York raw sugar futuresswung wildly on Thursday, risingup to near a 30-year peak ascyclone Yasi hit cane areas inAustralia before a storm of prof-it-taking deflated the sweetenerin its biggest one-day fall in overa month.

"Demand was weak for the pastfew days despite falling prices. Itwill be difficult for mills to sell

allocated quota for February,"said a member of Bombay SugarMerchants Association (BSMA).

India has made available 1.62million tonnes of non-levy sugarfor February, including 300,000tonnes unsold stocks of January,the government said in a state-ment on Jan. 31.

Non-levy, or free-sale sugar, issold by millers in the open mar-ket, but the quantity each mill cansell is fixed by the federal gov-ernment on a monthly basis.

In Kolhapur, a key market intop producing Maharashtra state,the most traded S-variety eased

0.22 per cent to 2,694 rupees($59) per 100 kg, after losing 5per cent last month.

The most-traded M-grade sugarcontract for February deliveryNSMG1 on India's NationalCommodity and DerivativesExchange (NCDEX) ended down2.3 per cent at 2,708 rupees per100 kg. Sugar output in India'sMaharashtra state is up 13 percent from a year ago, slightlyslower than in January, a stateindustry body said, and it cut itsoutput view for the country to 24million tonnes, below govern-ment estimates. -Reuters

India sugar drops onhigher supply, global cues

Egypt in focus, analysts say protests supporting prices

US crude early-tradeNEW YORK: US crude oil

futures extended losses to morethan $2 a barrel on Friday asinvestors liquidated positionsamid speculation that anannouncement was coming soonthat Egypt's President HosniMubarak would step down.

The speculation developedbased a television report thatlater appeared to be unfounded.

On the New York MercantileExchange, crude for Marchdelivery was down $1.90 at$88.64 a barrel at 1659 GMT.It earlier dropped to a sessionlow of $90.35.

Gold heads for first weekly gain this year

10Saturday, February 5, 2011

Schild of Austria reacts after winning women'sAlpine Skiing WC slalom race in Zwiesel

Sehwagdubbed

‘fit’ for WCNEW DELHI: Key Indianopener Virender Sehwag isfully fit and raring to go, localmedia reported on Friday,boosting the country's chancesof glory at the World Cup.

Sehwag, 32, was ruled out ofIndia's recent one-day seriesagainst South Africa due to ashoulder injury, raising doubtsover his fitness ahead of thetournament, which starts onFebruary 19.

"I was feeling some pain inmy shoulder," Sehwag toldmedia."So better to quit theSouth Africa one-dayers.

"I didn't want to get injuredduring the South Africa tourand miss the World Cup. So Icame back and went toGermany to see a couple ofdoctors. I got a couple of injec-tions and now I'm fine. "I amgoing to the National CricketAcademy (in Bangalore) andwill spend a couple of daysthere to check everything if Ican bowl and throw also but ifI can't, then I'll let them know.

"But at the moment I'm fullyfit." Sehwag, with 7,380 runsfrom 228 one-day internation-als, is seen as key to India's bat-ting fortunes at the showpieceevent, being co-hosted by India,Sri Lanka and Bangladesh.

The aggressive right-handersaid the team were upbeatabout their opening tie againstBangladesh in Dhaka. Indialost to the minnows in the2007 World Cup in theCaribbean, a defeat that even-tually led to their early exitfrom the tournament.

"Because we're playing theopening game against them inBangladesh, Bangladeshi peo-ple are expecting them to beatus again," Sehwag said. "Butthis time we have prepared well.

"You can say it is a revengegame for us and we won't takethe game lightly. We will giveour best shot and we will comehard on Bangladesh."

India, World Cup championsin 1983 in England, have beenplaced in Pool B alongsideSouth Africa, England,Bangladesh, West Indies,Netherlands and Ireland.-APP

Monitoring Desk

ENGLAND: The England andWales Cricket Board is confi-dent that it will not have torepay any of the $3.5million itreceived from its ill-fated dealwith Sir Allen Stanford despitethe threat of legal action fromthe United States.

A local Englsih newpaper dis-closed on Wednesday that thereceiver acting for creditors ofStanford’s collapsed $7billion

empire were considering pursu-ing the ECB for the money.

The receiver is seeking torecoup about $14million paidto sports organisations, includ-ing Miami Heat and IMGWorldwide, and will considersimilar action against the ECB.

Kevin Sadler, a lawyer work-ing for the receiver RalphJanvey, urged the ECB to con-tact them to discuss the pay-ments received from Stanford.

“The receiver strongly

encourages the ECB to contactthe receiver to begin discus-sions concerning the circum-stances of the significant pay-ments made by Stanford toECB,” he said.

The ECB has declined tocomment publicly, but isunderstood to have receivedlegal advice from its retainedQC on Thursday that it wouldbe able to defend any actionbrought by the receiver via theAmerican courts.

England Cricket Boardupbeat to keep $3.5mn

LONDON: Manchester Citylost ground to local rivalsManchester United in thePremier League title race aftertwice giving up the lead in a 2-2draw away to Birmingham. Ashare of the spoils at St Andrew’sleft Roberto Mancini’s men eightpoints behind leaders United,having played a game more than

the table-toppers.Carlos Tevez gave

Manchester City a fourth-minute lead with a neat goalwhich was levelled byBirmingham 19 minutes laterwhen Serbia striker NikolaZigic scored from close range.

City suffered a setback whendefender Micah Richards, who

first needed several minutes ofon-field treatment, was carriedoff on a stretcher following ahead injury. However, they sub-sequently regained the leadwhen, four minutes before half-time, Aleksandar Kolarovcurled a 25-yard free-kickaround the wall for a fine goal.-Reuters

City held, Suarezenjoys dream debut

NONTHABURI: In a disap-pointing result, India ended atthe bottom of Pool A in the FedCup Asia/Oceania Group Iafter losing 1-2 againstThailand in its last leagueengagement on Friday.

It was India's third consecu-tive defeat in as many days, asit earlier suffered defeatsagainst China and Uzbekistan.

Now India will clash againstChinese Taipei, who finishedlast in Pool B. This will beIndia's last chance to stay inGroup I as the loser will be rel-egated to Group II of theAsia/Oceania zone.

Earlier, the tie was locked at1-1 on Friday after the singlesmatches and yet again the dou-bles rubber became decisive,which India lost with Sania

Mirza and Rushmi Charavarthifrittering away a one-set leadonce again.

The Indian pair lost 6-3, 0-6,5-7 to NoppawanLertcheewakaran andNungnadda Wannasuk.

Ashwarya Shrivastav madeher debut in Fed Cup when sheplayed the first singles againstNicha Lertpitaksincha, whichthe Indian lost 2-6, 0-6.

Sania, however, kept Indianchances alive with a 6-2, 6-0win over Lertcheewakaran butcould not help India record itsfirst win in the event.

India were promoted toGroup I last year when theywon all the three ties - beatingSingapore, Malaysia andKyrgyzstan - without losing arubber.-Agencies

India finishlast in Pool A

MOSCOW: Three-timeGrand Slam champion MariaSharapova will play VirginieRazzano on Saturday whenRussia hosts France in the firstround of the Fed Cup.

In the opening singles matchof the best-of-five series, two-time major winner SvetlanaKuznetsova will face AlizeCornet.

"It will be my first time play-ing for Russia in Moscow,"Sharapova said. "And I think myexperience of playing in a teamenvironment a couple of yearsago will definitely help me."

Sharapova made her debutfor Russia in the first roundagainst Israel in 2008, winning

both her matches. She beatRazzano in the second roundof the Australian Open.

Kuznetsova has played inthree of Russia's four Fed Cuptitle wins and has a 18-6record.

France will be without itstwo highest-ranked players,Marion Bartoli and AravaneRezai. In their absence, coachNicola Escude chose the 67th-ranked Cornet to lead the team.

Cornet lost to eventualchampion Kim Clijsters in thethird round of the AustralianOpen for the best showingamong French women in theevent. But Cornet, who is 1-8in the Fed Cup, hopes she is

ready to challenge the Russianstars.

"I played two good matchesat the Australian Open and itwas a good start of the sea-son," Cornet said. "I came toMoscow really self-confidentand I hope I can now forgetabout the two poor last seasonsin my career."

The Frenchwoman beatKuznetsova in their only pre-vious meeting on the WTATour in 2008.

"Our chances are good,"Escude said. "We know we arenot favourites for the tie butwe are fit perfectly and we areready to do our best to win." -Agencies

Sharapova leads Russiaagainst France in 1st

round of Fed Cup

KARACHI: All-rounderShahid Afridi was confirmedas Pakistan's World Cup cap-tain on Friday following histeam's one-day series victoryin New Zealand.

The Pakistan Cricket Board(PCB) named their 15-mansquad for the tournamentopening on Feb. 19 withoutnaming a captain, fuellingspeculation that test captainMisbah-ul-Haq could beappointed ahead of Afridi,

However in a statement onFriday the PCB said Afridi,30, a veteran of 311 one-dayinternationals, will lead theside for the World Cup whichwill be jointly hosted byIndia, Bangladesh and SriLanka. Misbah-ul-Haq willbe the vice-captain.

"The board has also

retained Waqar Younis aschief coach and Aaqib Javedas bowling consultant for theWorld Cup," PCB mediamanager, Nadeem Sarwarsaid. He gave no explanationfor the delay in naming acaptain.

Sarwar said the board hadalso decided to send securityadvisor Wasim Ahmed withthe team while former cap-tain Intikhab Alam will con-tinue as team manager.

Pakistan are in Group A ofthe World Cup alongsideAustralia, New Zealand, SriLanka, Zimbabwe, Canadaand Kenya.

Former Pakistan captainRashid Latif said Afridi wasthe correct choice.

"It was the logical thing todo because he has now been

leading the one-day sidesince last year and the play-ers are also comfortable withhim and understand his lead-ership style," Latif toldReuters.

"If anything I don't under-stand what prompted theboard to delay the announce-ment. It only led to specula-tion which is not good forPakistan cricket ahead ofsuch an important event."

Another former test captainZaheer Abbas said Afridiwould now have to showgreat responsibility.

"He has a golden chance tocreate history for Pakistanbecause we haven't won theWorld Cup since 1992. Afridibecause of his experiencewas the right choice," Zaheersaid.-Reuters

Afridi to leadPak in CWC

MUMBAI: Former cricketcaptain Rahul Dravid says thenumber of batsmen in theIndian team who can bowlpart-time spin gives theMahendra Singh Dhoni-ledteam an advantage in theWorld Cup commencing onFebruary 19.

"India are obviously one ofthe favourites. They havebeen playing well for a num-ber of years. It's a well-bal-anced side with a number ofspinning all-rounders or part-time bowlers, which givesIndia a big advantage," saidDravid after receiving CeatCricket Rating World CupRetro award.

Dravid also felt the real

Cup will start after the groupstage when the quarter-finalscommence with the top fourteams in each of the twogroups going into the knock-out mode.

"Everyone knows who aregoing to be the quarter-final-ists. The real World Cup willkick off then. I love to sayIndia will win the Cup butevery other team from thequarter-final will be fancyingtheir chances," said Dravid.

Dravid said he wasimpressed with Dhoni'srecent statement that playingat home is being looked as anadded responsibility by theIndian team.

"It`s a great privilege to be

playing at home in front ofhome fans. Rather than see-ing it as pressure, it should beseen as a great privilege," hesaid.

He also welcomed the for-mat of the 2011 tournamentand said "I wish it was therein 2007," referring to India'searly elimination when hehad led the team four yearsago in the West Indies.

"It`s a matter of peaking atthe right time, keeping fit andenjoying and keeping thespirit up during the long tour-nament," he added.

India`s only World Cupwinning captain Kapil Dev,who was given the retroWorld Cup award for 1983,

advised Dhoni and is team"to enjoy playing in the tour-nament".

He also said the teamshould not depend on a singleplayer. "I always believe ateam should not be dependenton a single player. Let thebest team win and my heartsays it should be India," saidthe Haryana Hurricane.

He also said his Cup-defin-ing innings of 175 not out atTunbridge Wells againstZimbabwe that rescued Indiafrom a sorry 17 for 5 couldnot be recorded by BBC asthe staff was on strike. "EvenI would like to see it as Iremember only a few thingsabout it. The India-

Zimbabwe match was not bigfor the British public or forBBC which was on strike,"he said.

Former Australian openerMathew Hayden, after receiv-ing the retro award for 2007World Cup, said his countryis the winners of the last threeeditions of the World Cup.They stand a very goodchance this time too.

"We Australians will keepfighting till the last and it willstand the team in good stagein the tournament."

"There is a great sense ofmate-ship in the team. ShaneWatson has started to finishoff the match off his own batlike Adam Gilchrist used to

do. He has been playing verywell over the last 18 months."

"In the Australian team,there are many leaders, a con-cept developed by SteveWaugh. There is a battingcaptain in Ricky Ponting,bowling captain in Brett Leeand fielding captain inWatson," he said.

Former Pakistan all-round-er and captain Wasim Akram,a member of the 1992 Cupwinning squad, singled outvariety in bowling in a teamas the key factor in the com-ing World Cup.

"Sri Lanka have LasithMalinga and MuthiahMuralitharan who are wicket-taking bowlers.-Online

Spinners, all-rounders an advantage: Dravid

PERTH: Victorian all-rounderCameron White will captainAustralia for the first time in aone-day international in Perthagainst England on Sunday.

With the series sealed inAustralia's favour 5-1, theselectors have decided to restMichael Clarke and ShaneWatson. In their place, WestAustralian batsman AdamVoges and Tasmanian off-spin-ner Jason Krezja have beencalled up.

The most surprising decisionis the recall of Krejza after atwo-year exile from the nationalteam. Krejza was not picked inAustralia`s provisional 30-manWorld Cup squad, but injuries toNathan Hauritz, Xavier Doherty,Stephen O`Keefe and all-round-er Steve Smith have resulted in a

stunning recall for the offie. It`s only come through injury,

but any opportunity that`s there,you`ve got to grab it with bothhands, and hopefully I can dothat and play well if I get theopportunity to play,`` he told toreporters.

It`s the place I got dropped,it`s the place I`ve got pickednow, so it`s a bit ironic. I nevergave up hope. I just knew I wasgoing to be a better bowler. Iknew I`d have another opportu-nity and it`s come along now, soI`m pretty excited," he added.

Krejza is set to make his ODIdebut, while Voges, who is aver-aging 62 in the national one-daycup and is also capable of bowl-ing left-arm spin, is tipped totake Clarke`s slot in the middleorder.-Online

White to captain Aus

for 1st time in ODIs

Fifa mullssnood ban

MANCHESTER: Fifa haveput the wearing of the neck-warmer up for discussion atthe meeting of the game's law-making body, the InternationalFA Board (IFAB), on March 5.

Snoods have becomeincreasingly popular in thePremier League after CarlosTevez and EmmanuelAdebayor started the trend lastseason, but they are not offi-cially-sanctioned kit.

A Fifa spokesman said: "Wewant a debate over the snoodand whether it could be dan-gerous. There may be a safetyissue - if for example a playerwas running through on goaland an opponent grabbed hissnood, that could pose apotential danger to his neck."

Manchester United managerSir Alex Ferguson has bannedhis players from wearingthem, with club captain RioFerdinand saying on hisTwitter account: "You won'tsee a Man Utd player wearinga snood."

Roy Keane has also declaredhis opposition to snoods, say-ing: "They've all gone soft. Idon't know how they do it andfocus on the game, it's weird.That's the way the game'sgone."

Fifa also want the IFAB toinsist that if players weartights then they should matchthe colour of the shorts.Arsenal's Emmanuel Eboueand Bayern Munich's ArjenRobben have both worn tightsin matches this season - butthese would have compliedwith the proposed new rule asthey did match the colour ofthe shorts.

Fifa are also looking to clar-ify the rules for referees tostop play when an object -such as another ball, or an ani-mal - comes onto the pitch.-Agencies

Haydenopens 7-yr

old Test caseagainst IndiaNEW DELHI: FormerAustralian opener MatthewHayden has re-opened a seven-year-old controversy by claim-ing that ex-India captainSourav Ganguly and off-spin-ner Harbhajan Singh chick-ened out of the series-deciding2004 Nagpur Test due to a fearof the green-top pitch there.

In his autobiography'Standing My Ground', Haydenwrites that the Australians feltat that time the nature of thepitch had led to the suddenwithdrawal of Ganguly andHarbhajan from the Test, whichthe visitors eventually won toclinch a historic series win.

"The curator, a famously sin-gle-minded character with nolove of the Indian hierarchy,ignored pleas to shave the deckand left a healthy covering ofgrass. It reminded me of Gabba.To have that sort of wicket forthe deciding Test of an awayseries - particularly in India -was the most pleasant surpriseimaginable," Hayden wrote.

"When Ganguly andHarbhajan went out to see thedeck a couple of days beforethe game, they looked likefarmers inspecting crops aftera hail storm. We predicted nei-ther would play, and they didnot. Ganguly withdrew with aleg-muscle injury that flaredup suddenly, and Harbhajanhad an even more sudden doseof food poisoning.-Agencies

LAHORE: Players marching during the inauguration ceremony of Second Chief MinisterSports Competition at Punjab Stadium.-Staff Photo

11Saturday, February 5, 2011

International & Continuation

CONTINUATION

BRUSSELS: Germany andFrance proposed a competitive-ness pact for Europe on Fridayand EU leaders discussedstrengthening a euro zone res-cue fund, hoping to win backmarket confidence in the bloc'spublic finances.

Paris and Berlin -- the drivingforces behind euro zone policy-- set out a wish-list of meas-ures they want euro zone andother countries to sign up toincluding:

"Germany and France willmake it very obvious that weintend to defend the euro as acurrency ... we also want todefend it as a political project,"German Chancellor AngelaMerkel told a joint news con-ference with French PresidentNicolas Sarkozy just before apresentation to EU leaders.

"We want to send out a clearmessage, that as the EuropeanUnion, we intend to growtogether. What we want toestablish is a pact for competi-tiveness," she said.

The two biggest euro zoneeconomies want the pact to bepart of a "comprehensive pack-age" that leaders agree inMarch, when they hope toagree a series of measures tohelp draw a line under the eurozone's year-long sovereign debtcrisis.

"We are working hand inglove, France and Germany,with a clear, total determinationto support the euro," Sarkozysaid.

The package is to includechanges to the EuropeanFinancial Stability Facility, the440 billion euro bailout fundagreed last May, to increase itseffective lending capacity andgive it more flexibility on howto use its money. In draft con-clusions prepared ahead of thesummit, the 27 heads of stateand government said they

would consider "concrete pro-posals" for strengthening theEFSF "to ensure the necessaryflexibility and financial capaci-ty to provide adequate sup-port", with those discussionsbeing finalized next month.

EU diplomats said no majordecisions would be taken onFriday as market pressure ondebt of Greece, Ireland,Portugal or Spain has eased.But officials understand thatfailure to agree on concretemeasures before the nextscheduled summit on March24-25 could reignite the confla-gration in the markets.

In a sign of returning investorconfidence, Spain's borrowingcosts fell sharply at bond auc-tions on Thursday. Portugal hasalso had encouraging recentdebt sales.

Strengthening the EFSF hasbeen the focus of discussion formonths, since it became clearits effective lending capacitywas only about 250 billioneuros, not 440 billion, due toguarantees built into the fund tomaintain its triple-A credit rat-ing.

Given its lending limitations,there are concerns that ifPortugal and Spain were bothto end up needing a bailout, theEFSF would not have sufficientfunds.

European Central BankPresident Jean-Claude Trichet,who held talks with EU leadersover lunch, is among those call-ing for the EFSF to be enlargedand made more flexible, so thatit is not just a bailout lender oflast resort.

RESISTANCE The EFSF is the chief

weapon in the EU's arsenal, butdeep disagreement remainsover how it should be strength-ened, with Germany deter-mined to secure stricter budget-ary commitments from other

euro zone members andreforms boosting competitive-ness in exchange for agreeingamendments to the fund.

Economics and MonetaryAffairs Commissioner OlliRehn praised Germany forentering the crisis stronger thanothers in the EU thanks tobroad structural reforms sincethe 1990s.

"It is important for everyonethat other countries now man-age to do what Germany and afew other member states havealready managed in past years,"Rehn wrote in a column in theGerman daily Handelsblatt.

Most of the proposals byBerlin and Paris have alreadybeen set out by the EuropeanCommission in January in itsAnnual Growth Survey as partof the new, tighter budget coor-dination process called theEuropean Semester.

"The ideas presented by somemember states fit very wellwith this overall approach ofreinforcing our governance,"European CommissionPresident Jose Manuel Barrososaid.

But some of the competitive-ness reforms proposed byBrussels, Paris and Berlin metwith immediate resistance.

"I don't think it's possible forthe European Union to regulatethe pension age because thereare large differences in the indi-vidual countries," AustrianChancellor Werner Faymannsaid. "I don't think it's right tointerfere in wage negotiations,like some have demanded."

There remains the risk thatFriday's summit will underlinejust how far apart states remain,with Germany largely backedby the likes of France, Finlandand the Netherlands, whileGreece, Italy, Spain and otherspull in different directions.-Reuters

Paris, Berlinlaunch EU

competitiveness pact WASHINGTON: U.S.employment rose by a meager36,000 jobs in January, farless than expected, as severesnow storms slammed largeparts of the nation, but theunemployment rate fell to itslowest level since April 2009.

Despite the conflicting sig-nals in the LaborDepartment's report onFriday, economists agreed arecovery in the labor marketwas proceeding apace if notgaining speed. Manyinvestors also saw the data asa sign of strength.Government bonds sold offand the dollar rallied againstthe yen and the euro.

The payrolls gain reportedby U.S. employers was aquarter of the 145,000 gaineconomists had expected. Buta separate household survey,which is used to determine thejobless rate, showed nearly600,000 more people reportedthey were employed.

That surge in employmentpushed the unemploymentrate to 9 percent from 9.4 per-cent in December. The ratehas dropped 0.8 percentagepoint since November, thebiggest two-month declinesince 1958.

"Looking at the two surveystogether, they suggest thatemployment is going to pickup. Clearly it has lagged theother measures of activity, butwe're in a jobs market recov-ery now," said Zach Pandl,U.S. economist at NomuraSecurities International inNew York.

"Looking at the two surveystogether, they suggest thatemployment is going to pick-up. Clearly it has lagged theother measures of activity, butwe're in a jobs market recov-ery now," said Zach Pandl,

U.S. economist at NomuraSecurities International inNew York.

Economists estimate theblizzard, which pounded theNortheast in January andburied cities in knee-deepsnow, reduced payrolls bybetween 50,000 and 75,000.

The government alsorevised November andDecember payrolls to show40,000 more jobs created thanpreviously estimated.OUTLOOK IMPROVINGData on manufacturing and

retail sales has suggested theeconomy's strong momentumcontinued into the new year.Economists said January'semployment report, excludingthe weather effect, was con-sistent with the economygrowing above 3 percent.

The labor market has laggedthe broader economy, whichgrew at a 3.2 percent annualrate in the fourth quarter.

"We see significant potentialstrength in this report and willbe looking to see whether thedrop in the unemployment ratepersists," said Michael Gapen,an economist a BarclaysCapital in New York.

"If it does, then it will be afurther signal that underlyingjob growth is stronger thanreported and conditions inlabor markets are better thanadvertised by the establish-ment survey."

Last month's drop in theunemployment rate wasencouraging because it reflect-ed more people finding work,even after adjustments forupdated population controls.

In recent months, a largeportion of the decline in thejobless rate reflected peoplegiving up the search for work,meaning they were no longercounted among the ranks of

the unemployed. Still, the decline is unlikely

to discourage the FederalReserve from completing its$600 billion governmentbond-buying program to sup-port the economy.

Fed Chairman BenBernanke on Thursdayacknowledged the pick-up inthe recovery, but said "it willbe several years before theunemployment rate hasreturned to a more normallevel."

The Labor Department alsofinalized its annual bench-mark revisions to its payrollseries, which showed the levelof employment for March2010 was overstated by378,000.

Last month, the privateservices sector added only32,000 jobs after increasing146,000 in December. Thesector accounts for more than80 percent of jobs in theUnited States.

Payroll increases in goods-producing sectors rose18,000, as manufacturingemployment grew 49,000, thelargest increase since August1998, after rising 14,000 inDecember.

Severe weather could haveaffected construction pay-rolls, which dropped 32,000last month. There were alsolarge declines in the employ-ment of couriers and messen-gers.

Government payrollsdropped 14,000 in January,marking a third straightmonth of declines, pulleddown by state and local gov-ernments.

The weather effect was alsoapparent in the average work-week, which slipped to 34.2hours from 34.3 hours inDecember.-Reuters

US payrolls barelygrow, but jobless

rate plummets

to close early, undermining Pakistan's economy. The govern-ment is now engaged in a major drive to expand its energysources, including tapping renewable energy resources such aswind, given around 50,000 megawatts of capacity are available inthe south of the country alone.

"We estimate that three to five projects will come on line fol-lowing ADB's support for Zorlu Enerji's wind farm," saidSiddhartha Shah, Senior Investment Specialist in ADB's PrivateSector Operations Department.

Zorlu Enerji, listed on the Istanbul Stock Exchange, owns andoperates Turkey's largest wind farm. It is 68 per cent owned byZorlu Holding AS, one of the largest conglomerates in Turkey.

The existing 6 megawatt wind farm project is currently dis-patching power to the Hyderabad Electric Supply Company. Oncethe second construction phase is complete - expected in 2012 - the56.4 megawatt wind farm will supply power to the national gridthrough a 20-year take-or-pay power purchase agreement with theNational Transmission and Dispatch Company. The approved tar-iff will ensure that the electricity is priced competitively, with therate dropping over time as project debt is paid down.

"The project will have multiple benefits including helpingrealise the government's target of 6 per cent renewable energy inthe total power mix by 2030, and contributing to employmentopportunities and economic growth in one of the poorest regionsof the country," said Mr. Shah.-Online

Continued from page 1No #1

an IMC spokesman said that the fact is that IMC has increasedits prices by only 7 per cent during last 2 years (Jan 09 till Dec10). He said that reasons for increase in locally produced car ratesare not hidden from consumers who understand our currency hasdevalued a lot and the prices of each and every commodity haveskyrocketed during the said period.

He said that during the same period the rates of natural gasincreased by 13 per cent, electricity by 34 per cent, diesel by 34per cent and petrol by 20 per cent. He said in the internationalmarket during the same period the rate of steel increased by 27 percent from $586 to $746 per tonne while the rates of polypropy-lene, aluminum, copper, and lead increased by 67, 35, 24 and 45per cent respectively.

He said that these are important inputs in car production whilethe local OEMs absorbed most of the hike-shock in cost of doingbusiness and passed on a bit of it to the consumers.

Moreover, the rate of US dollar increased by 6.1 per cent againstthe rupee from Jun 2009 to date while the rupee depreciated 20per cent against Japanese yen during the same period increasingthe cost of imported parts used in locally made vehicles.

He said that carmakers generally had to adjust the prices keep-ing in view the increase in cost of production. However, he addedthat the producers have also made downward adjustments in rateswhenever they got some space. Another impression that previousinstance of allowing 5-year old cars did not affect the local OEMsis incorrect, as it was the year when demand was exceeding sup-ply and local manufacturers invested billions of rupees to enhancetheir productivity to bridge the gap. But the present statisticsreveal otherwise, as demand has gone down less than 125,000cars annually and the production capacity has increased by morethan 275,000 cars per annum, the spokesman said.

Continued from page 1No #2

Rs30 million bank loan, and Rs20 to Rs30 million to be invest-ed by private partner selected through transparent process withcomplete management control. The meeting was attended byAdvisor to CM for Investment Zubair Motiwala, Sindh FinanceSecretary Muhammad Siddique Memon, Secretary Agriculture

Continued from page 1No #3

of law. Besides Pakistan, the chief justices of otherCommonwealth countries including Canada, India, Caribbean,UK, South Africa, Bangladesh, Sri Lanka, Malaysia, Singapore,Australia and New Zealand will also attend the conference.

During his stay in India, Justice Chaudhry will also meet withIndian Chief Justice MH Kapadia.

Meanwhile Senior SC Judge Javed Iqbal has taken oath as act-ing Chief Justice. Senior SC Judge Justice Shakirullah Jan tookoath of Justice Javed Iqbal in a simple ceremony. Justice JavedIqbal will perform the duties of acting Chief Justice till the returnof Justice Iftikhar Chaudhry from India.-Agencies

Continued from page 1No #4

0master plane, several short-term and long-terms proj-ects would be completed soon. He said the nuclear power plant isproducing 300MW electricity and efforts are being made for600MW productions. Syed Khurshid Shah assured NationalAssembly that, complete implementation would be made over thedecision of Standing Committee over the issue of employeeshousing scheme.-Online

Continued from page 1No #5

in Khyber Pakhtunkhwa, Punjab and Balochistan. To a question he said the government provided Rs260 billion

loans to the farmers during the last financial year besides spend-ing Rs62 billion on agricultural research and development proj-ects which helped increase production. Answering anotherquestion Nazar Muhammad Gondal said lining of 14262 kilome-tres long watercourses has been completed during the last threeyears while work on the lining of more watercourses is under-way which is expected to be completed by June this year.Minister for Livestock Mir Humayun Aziz Kurd informed theHouse that over three hundred thousand animals have beenexported during the last two years. Minister for HealthMakhdoom Shahabuddin informed the Senate that the govern-ment has approved a revised plan for the National Aids ControlProgramme under which about Rs2 billion would be spent toprevent this disease.-NNI

Continued from page 1No #6

Sindh Agha Jan Akhtar, Secretary Livestock Laeeq Memon,Secretary Industries Zameer Ahmed, Secretary to Chief MinisterSindh Ahmed Bux Narejo, MA Jabbar, Dr Syed Nadeem Qamar,Anjum Nisar, Syed Muhammad Nawaz Shah, M Rehman Saeed ,Dr Ibrahim Shah Bukhari and others.-NNI

Canada jobsjump past

expectationsin January

OTTAWA: Canadian jobgrowth surged past expecta-tions in January, with the econ-omy officially recouping all thejobs lost in the recession,underscoring that its recoveryis on track even as the U.S.labor market struggles.

Statistics Canada data onFriday showed the economyadded 69,200 new positions, farmore than the 15,000 marketshad expected. The unemploy-ment rate, which had been fore-cast to remain unchanged, grewto 7.8 percent from 7.6 as morepeople looked for jobs.

The gain was the largest sinceApril 2010. The Canadian dol-lar pushed to a 2 1/2-year highafter the news as analysts wereheartened by the healthy eco-nomic picture, though they con-tinue to expect the Bank ofCanada will leave rates steadyin the near term.

"This is a strong reportthrough and through," saidDavid Tulk, chief Canadamacro strategist at TDSecurities in Toronto.

Canada has now added justunder 100,000 jobs in the lasttwo months. Canada had beenthought to have alreadyregained the jobs wiped out bythe recession until a data revi-sion last week showed theamount of new hires fell short.

The number was in stark con-trast to data south of the borderwhere U.S. employment rosefar less than expected lastmonth, although the unemploy-ment rate fell to its lowest levelsince April 2009.

The Canadian employmentgain in January was evenly splitbetween full- and part-timepositions. The service sectoradded 49,400 jobs, with partic-ular strength in business, build-ing and other support services.

"You look at the compositionof jobs that were very evenlysplit between full-time andpart-time, public sector and pri-vate sector -- all just very goodnumbers," said Tulk.-Reuters

The Chief Secretary Sindh said that they are focusing mainly onredressal mechanism for the selection of affected persons forawarding the onward compensation to the flood victims and hope-fully they said this process shall be completed soon in coordina-tion with Nadra and Provincial Natural Disaster ManagementAuthority (NDMA).

The Chief Secretaries of Khyber Pakhtunkhwa, Balochistan,

Azad Jammu and Kashmir and Gilgit-Baltistan also highlighted

their respective work done in this regard.Meanwhile Federal

Finance Minister Dr Abdul Hafeez Shaikh on Friday asked the

management of the Pakistan International Airlines (PIA) to come

out with certain concrete and practical suggestions for revamping

and reorganising the airline. He said that the suggestions may indicate the bottlenecks and

constraints in the way of the airline for its development andprogress.The Cabinet Committee on Re-Structuring of PublicSector Enterprises headed by Dr Abdul Hafeez Shaikh met here tohave a briefing on the national carrier, Pakistan InternationalAirlines Corporation (PIAC).-APP

Continued from page 1No #7

side foreign ministry is in contact with PIA on this matter and PIA flights will leave for Egyptwithin 24 hours and all the expenses in this respect will be borne by ministry of foreign affairs.

Pakistan ambassador in Egypt, Seema Naqvi said that all Pakistanis in Egypt were safe but theycould face food problem in case the protests prolong.

Continued from page 1No #9

17 per cent to 1.7 million tonnes and 0.73 million tonnes, respectively.

Continued from page 1No #10

ordered to appear at London's City of Westminster Magistrates Court on March 17."Summonses for the same court date have been issued for the three players and they have been

asked to return to this country voluntarily, as they agreed to do in September last year," Clementssaid. "Their extradition will be sought should they fail to return," he added.-Reuters

Continued from page 1No #11

their just struggle for freedom and against atrocities being committed by the Indian occupation-al forces. AJK government as well as social, political and Human Rights organisations are hec-tically engaged to chalk out elaborate programmes to re-pledge their solidarity with theirbrethren. The day will dawn with special prayers in the mosques after Namaz-e-Fajr, offering"Fateha" for the martyrs of Kashmir and for the early success of Kashmir liberation movement.

One-minute silence will be observed across the country and in AJK to pay homage to Kashmirimartyrs. Prime Minister Syed Yousuf Raza Gilani would address the joint meeting of AzadKashmir Legislative Assembly and Kashmir Council.-Online

Continued from page 1No #12

leaders and the political parties in the Parliament to work together in finding a solution sothat misuse of the law could be prevented. There was no other forum better than theParliament for this purpose, the President said. Talking about the incident in Lahore of a USnational involved in the murder of Pakistani nationals, the President said that the governmenthad taken a principled position that the matter was before the judiciary whose verdict shouldbe awaited and respected.

Meanwhile, Prime Minister Syed Yousuf Raza Gilani has constituted a Committee, to beheaded by Senator Mian Raza Rabbani, to restructure and re-define the role of the FederalVocational and Technical Training Institutions in light of the 18th Constitutional Amendment.

The Committee will consist of Shahnaz Wazir Ali, Special Assistant to the Prime Minister,Federal Secretary for Labour and Manpower, Secretary Overseas Pakistanis and ExecutiveDirector, National Vocational and Technical Education Commission (NAVTEC). On anotheroccasion Prime Minister Syed Yousuf Raza Gilani has said that political reconciliation andaccommodation of each others' point of view offers solutions to our political, economic andsecurity problems.

Continued from page 1No #13

Minister for food and agriculture Nazar Muhammad Gondal said government was notallowing any subsidy on fertilisers.He said this while giving replying to questions fromseveral senators during question hour in the Senate on Friday.He told that Zarai TarqiatiBank would provide credit facility to tea growers. Azad Kashmir and Northern areas werevery effective areas for tea cultivation, therefore, talks were underway with forest depart-ment to purchase the land, he said. Senator Tahir Hussain Mashdi staged walk out from the session after he was disallowedby the chairman senate to table adjournment motion. Chairman senate said he neitherbelonged to government nor to opposition but he was chairman of the house.-Online

Continued from page 1No #8

"Several technical elements are gathered to forecast further upside on the European index.Indeed, the area between 2,960 and 2,980 points plays a support role," he said, citing 2,980 asan entry point, with a first target of 3,025 points. Across Europe, Britain's FTSE 100 ended up0.2 per cent, while Germany's DAX and France's CAC-40 both ended up 0.3 per cent. Cable &Wireless Worldwide was among the top risers among individual names, closing up 4.6 per centafter market talk emerged of bid interest from an unnamed British company.

The telecom declined to comment. Also on the upside, Swiss biotech firm Actelion rose 4 percent, outperforming a 0.1 per cent fall in the European healthcare index, after a leading hedgefund investor called for a management shakeup. A late afternoon statement from the firm reject-ed the demands. Among heavyweight sectors, the STOXX Europe 600 Basic Resources closedup 0.6 per cent, boosted by a push through the $10,000 a tonne barrier for copper and gains forother industrial metals after the falling US jobless rate buoyed the demand outlook.Reuters

Continued from page 5No #14

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CAIRO: Protesters demandingPresident Hosni Mubarak's ousterpacked Cairo's central square by thetens of thousands Friday, wavingEgyptian flags, singing the nationalanthem and cheering, appearingundaunted and determined after theircamp withstood two days of street bat-tles with regime supporters trying todislodge them.

Thousands including families withchildren flowed over bridges across theNile into Tahrir Square, a sign that theywere not intimidated after the protestersfended off everything thrown at themby pro-Mubarak attackers - storms ofhurled concrete, metal rebar and fire-bombs, fighters on horses and camelsand automatic gunfire barrages. Theprotesters passed through a series ofbeefed-up checkpoints by the militaryand the protesters themselves guarding

the square.The crowd was the biggest since

Tuesday, when a quarter-million turnedout. A man sitting in a wheelchair waslifted - wheelchair and all - over theheads of the crowd and he pumped hisarms in the air. Thousands prostrated innoon prayers and immediately afteruttering the prayer's concluding "God'speace and blessings be upon you," theybegan chanting their message toMubarak: "Leave! Leave! Leave!"

Egyptian Defense Minister HusseinTantawi visited the square Friday morn-ing and talked to protesters, the mostprominent government official to do soin more than 10 days of unprecedenteddemonstrations demanding an end ofMubarak's nearly 30 year rule. Soldierschecked IDs to ensure those enteringwere not police in civilian clothes orruling party members and performed

body searches at the square's entrances,a sign that Egypt's most powerful insti-tution was sanctioning the demonstra-tion - though Tantawi tried to convincethose he spoke to end it.

Protesters labeled the rally the "day ofleaving," a reference to their demandMubarak go on Friday. Some held upsigns reading, "Now!"

Mubarak insists he will serve out theremaining seven months of his term. Hetold ABC News that he wants to stepdown but that doing so would sparkchaos, and he vowed not to leaveEgypt.

The Obama administration said it wasin talks with top Egyptian officialsabout the possibility of Mubarak imme-diately resigning, and an interim gov-ernment forming before free and fairelections this year.

US officials said the creation of a mil-

itary-backed caretaker government wasone of several ideas being discussedbetween the Egyptian regime and theObama administration. The Americanofficials spoke on condition ofanonymity to discuss the continuingsensitive talks.

Among the options was a proposal forMubarak to resign immediately andcede power to a transitional govern-ment run by Vice President OmarSuleiman, the officials said.

Prominent reform advocateMohamed ElBaradei called onMubarak to "hear the clear voicecoming from the people and leave indignity." "The quicker he leaves indignity the better it is for everybody,"said ElBaradei, a Nobel Peace laure-ate who has become one of the lead-ers of Egypt's protest movement.-Reuters

Change roars in Pharaohs’ land Egypt protests turn violent

KARACHI: Chief Minister SindhSyed Qaim Ali Shah Friday presidedover the 3rd meeting of Sindh Board ofInvestment at Chief Minister House.

Speaking on the occasion, ChiefMinister Sindh stressed the need toproject the incentives and facilities tointending investors in a befitting man-ner so as to attract maximum investorsto invest in various project in Sindhprovince.

He said that there is a vast scope ofinvestment in various sectors particu-larly in coalmining, power generation,wind energy, trade development, andhalal food marketing etc and it is theutmost need of the hour that Boardmembers should play vital role forenhancement of investment atmos-phere in the province.

About the subject of Electricity, theChief Minister Sindh said that the elec-tricity is not a federal subject and it isnow under the purview of Council ofCommon Interest (CCI) after the pas-sage of 18th Amendment.

He informed the Board that the tariffwe will have the tariff approved byCCI. He further said that CCI is thebest forum to plead, present and fight

the case. It was also decided to formvarious committees headed by mem-bers of Board.

The meeting was informed that aSeminar/Exhibition 2011 on livestock,Dairy, Fisheries & Poultry will be heldon 7th and 8th February 2011 atKarachi Expo Center.

Earlier, Secretary Investment SindhMuhammad Younis Dhaga in his pres-entation said that Sindh Board ofInvestment has to work on newavenues for power generation andagro-processing.

He also detailed the progress onMemorandum of Understanding onSindh Investment Conference 2010,which included MoU with Iran, MoUwith Azur Solar of Germany, MoUwith Trans Atlantic, MoU with Pasdec,MoU with Zarai Tarqiati Bank Ltd andSBL and PHDEC, and an MoU forDates Processing Plant.

He added that the project will beoffered to private sector on PublicPrivate Partnership mode. MoreoverPHDEC will lend Rs20 million --inter-est free-- to be paid back in 3-5 years inthis regard, and

See # 3 Page 11

Qaim commands fresh inflows fast

CM Sindh presides voer 3rd meeting of Sindh BoI

ISLAMABAD: The Minister forWater and Power, Raja Pervaiz AshrafFriday informed the NationalAssembly that there is no informationabout the closure of industry due toshortfall of power in the country, andthe supply of electricity to textileindustry is our first preference.

Minister of Water and Power toldNational Assembly (NA) that, the sup-ply of electricity to industry will con-tinue on priority basis. He also said thathe could not give any deadline for theend of load shedding.

He said, the production of electricityhas increased up to 1754MW last year,wherein 2011 this production wouldcross the figure of 1150MW. He fur-ther said that, for the last two and halfyears the project of Mangla upgrada-tion has been completed.

Answering to the question of Qudsia

Arshad, he said there is no informationfrom around that country that the non-availability of furnace oil caused theclosure of power plants and there couldbe some other reasons for it, as furnaceoil supply to power plants in the coun-try was smooth.

Answering to the question of AbdulQadir Khanzada, he said, a power proj-ect in Karachi is in progress and110MW electricity is being produced,whereas total of 235MW electricitywould be produced from this project.He further added that the right has beengiven to provincial governments toproduce electricity and in this connec-tion KP government has completed ahydel project.

He added that, a master plan has beenprepared to control the shortage ofelectricity and while implementing the

See # 5 Page 11

Ashraf denies industryshutdown on outages

Electricity to textiles, 1st priority: minister

CJ off toIndia forC'wealthlaw moot

ISLAMABAD/NEW DELHI:Chief Justice of PakistanIftikhar Muhammad Chaudhryarrived in New Delhi on Fridayto attend 17th CommonwealthLaw Conference.

On his arrival, the chief jus-tice was received by the highofficials of Pakistani HighCommission in New Delhi andorganisers of the conference.

The five-day CommonwealthLaw Conference will starttoday (Saturday) in Indian cityof Hyderabad. Indian PrimeMinister Manmohan Singh willthe chief guest at the inauguralsitting of the session.

The conference will end onFebruary 9, but the chief justicewill return to Pakistan onFebruary 7.

The purpose of the confer-ence is to utilise the experienceof the Commonwealth coun-tries about their administrativesystem for provision of justice.The conference will also dis-cuss hurdles in the way of rule

See # 4 Page 11

Bank says Pakistanwind power sectorinvestment-worthy

MANILA: The AsianDevelopment Bank will beproviding a loan to help fundthe first privately owned andfinanced wind farm inPakistan.

According to the press state-ment the output from the plantwill provide much-neededadditional power to improvethe country's energy security,and lower reliance on fossilfuels.

Zorlu Enerji Electrik Uretim,will use the $36.8 million loanto install wind turbines toincrease the output of its windfarm - located in the southernSindh province, 100 kilometersnortheast of the commercialhub Karachi - from the current6 megawatts to a total 56.4megawatts.

"Acute energy shortages,

caused by low investment, arecutting into Pakistan's econom-ic growth," said MichaelBarrow, Director in ADB'sPrivate Sector OperationsDepartment. "This deal shouldprovide a bankable templatefor future privately fundedwind projects, and send a sig-nal that Pakistan's wind sectoris attractive for private sectorinvestment and financing."

Pakistan relies heavily onimported fossil fuels for thebulk of its energy needs.However, this is costly, puts aheavy burden on Pakistan'sforeign exchange reserves, andleaves the country vulnerableto supply disruptions and glob-al price fluctuations.Investment in new capacity haslagged, whereas demand hassurged by over 40 per cent overthe past five years, resulting inregular brownouts in all majorurban centers and the introduc-tion of power rationing. Thishas forced shops and industries

See # 1 Page 11

Power blackoutskill growth: ADB

ADB to help build Pakistans’s 1st private wind power plant

Ground tobe broken

for tea, jute,olive: GondalISLAMABAD: The Senatehas been informed that effortsare underway to enhance pro-duction of non-traditional cropsincluding jute, olive and teabesides traditional crops ofwheat, cotton and rice.

Responding questions in theHouse on Friday, Minister forFood and Agriculture NazarMuhammad Gondal said suc-cessful experiments have beenmade for production of tea andolive.

A commercial tea productionproject through public privatepartnership is now in progressto cultivate tea at 4200 acres ofland in Khyber Pakhtunkhwaand Kashmir. Similarly he saidincentives are being providedto the farmers to cultivate olive

See # 6 Page 11

Staff Reporter

KARACHI: It is being repeat-edly mentioned in a section ofpress that Indus Motorsincreased prices of its vehiclesenormously during past 2years. It is very misleading andcreating confusion at a timewhen multi-billion dollar localindustry is passing through itsmost difficult time.

A spokesman for IMC whilereacting to statements andcomments by some analystsand government officials saidthat the facts are being distort-ed in connivance with vestedinterests which is causingirreparable damage to localindustry base employing thou-sands.

In a statement issued today, See # 2 Page 11

IMC red-signalsfleecing charges

Hiked prices by only 7pc in last 2yrs: company

CAIRO: Army soldiers monitor anti-government demonstrators in Tahrir Square in Cairo, Egypt. -Reuters