International

Thousands protest over blasphemy law change See on Page 12

Pakistan thrash Kiwis by 10 wickets See on Page 12

Iran says can make its own nuclear fuel See on Page 12

Crude Oil (brent)$/bbl 93.33

Crude Oil (WTI)$/bbl 88.03

Cotton $/lb 140.60

Gold $/ozs 1,368.90

Silver $/ozs 28.67

Malaysian Palm $ 1,224

GOLD (NCEL) PKR 37,817

KHI Cotton 40Kg PKR 10,503

Yearly(Jul, 2010 up to 7-Jan-2011)

Monthly(Dec, 2010 up to-7-Jan-2011)

Daily (7-Jan-2011)

Total Portfolio Invest (31 Dec-2010)

158.27

-37.13

-0.40

2900

3.69

4.28

0.06

-6.77

-0.26

-0.96

-0.05

SCRA(U.S $ in million)

Portfolio Investment

FIPI (7-Jan-2011)

Local Companies (7-Jan-2011)

Banks / DFI (7-Jan-2011)

Mutual Funds (7-Jan-2011)

NBFC (7-Jan-2011)

Local Investors (7-Jan-2011)

Other Organization (7-Jan-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (1-Jan-11)

Inflation CPI% (Jul 10-Nov 10)

Exports (Jul 10-Nov 10)

Imports (Jul 10-Nov 10)

Trade Balance (Jul 10-Nov 10)

Current A/C (Jul 10- Nov 10)

Remittances (Jul 10 - Nov 10)

Foreign Invest (Jul 10-Nov 10)

Revenue (Jul 10-Nov 10)

Foreign Debt (Sep 10)

Domestic Debt (Nov 10)

Repatriated Profit (Jul- Nov 10)

LSM Growth (Oct 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.20bn

14.44%

$8.88bn

$15.37bn

$(6.49)bn

$(504)mn

$4.43bn

$746mn

Rs 495bn

$58.41bn

Rs 5348.6bn

$287.9mn

-2.81%

4.10%

$1,051

171.48mn

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

23.55

2.00

1.70

11.07

PKR/Shares

111.32

201.66

42.82

36.39

37.92

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)

29-Dec-2010

29-Dec-2010

29-Dec-2010

29-Nov-2010

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

08-Jan-2011

13.20%

13.41%

13.73%

14.00%

13.22%

13.47%

13.65%

14.01%

14.15%

14.23%

14.24%

14.26%

14.59%

14.77%

14.96%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.30 85.30

Canadian $ 85.10 86.10

Danish Krone 15.00 15.10

Euro 111.20 113.40

Hong Kong $ 10.40 10.50

Japanese Yen 1.015 1.041

Saudi Riyal 22.67 22.83

Singapore $ 65.4 66.40

Swedish Korona 12.00 12.70

Swiss Franc 86.50 86.70

U.A.E Dirham 22.97 23.38

UK Pound 132.1 133.90

US $ 85.65 85.95

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 85.28 85.48

Canadian $ 86.19 86.39

Danish Krone 14.83 14.86

Euro 110.52 110.78

Hong Kong $ 11.01 11.04

Japanese Yen 1.030 1.033

Saudi Riyal 22.83 22.88

Singapore $ 66.13 66.29

Swedish Korona 12.35 12.38

Swiss Franc 88.48 88.69

U.A.E Dirham 23.31 23.36

UK Pound 133.15 133.46

US $ 85.63 85.82

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 15°C 02°C KARACHI 27°C 08°C LAHORE 08°C 03°C FAISALABAD 10°C 06°C QUETTA 12°C -08°C RAWALPINDI 15°C 04°C

Weather Forecast

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Global Indices

Shahbaz urges to set up

Judicial Commission

Taseer’s murder

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing a Press Conference at PM House here on Sunday.-APP

Karachi, Monday, January 10, 2011, Safar-ul-Muzaffar 5, Price Rs12 Pages 12

Special Correspondent/Agencies

ISLAMABAD: The govern-

ment has finally accepted the

10-point agenda of Pakistan

Muslim League Nawaz (PML-

N) to steer the country out of

economic and political turmoil.

Prime Minister Syed Yousuf

Raza Gilani on Sunday tele-

phoned PML-N chief Mian

Nawaz Sharif and replied in

affirmative to a series of

demands, PM House said.

The deadline was going to

expire Monday 06:00 pm.

The government statement

said the PM exchanged views

over PML-N agenda and

expressed his positive reaction

towards the list of demands.Sharif appreciated the gesture

by Prime Minister Gilaniterming it political maturity. Headded that all political forces

have realised that being on thesame page is better for thecountry.

A three-member committeeto be headed by Senator IshaqDar would contact the govern-ment in this regard, the state-ment said.

Sharif has given 3-days to thegovernment to give a clear-cutreply on a list of demands,including reversing the fuelprice hikes, reducing govern-ment expenditures and remov-ing party officials allegedlyinvolved in corruption, and 45-

day ultimatum to implementthe agenda.

Talking to the mediamen onSunday, PML-N spokesman,Siddique-al-Farooq said thethree-day deadline ended today;however, the PM has yet toimplement the agenda in 45 days.

About Latif Khosa's appoint-ment as Governor Punjab, he saidthe PM did not take his faction inconfidence over the decision.

Meanwhile, PML-Nspokesman Ahsan Iqbal whiletalking to a private news TV,

See # 7 Page 11

Govt embracesPML-N agenda

PM phones Sharif, assures adoption of 10 points

PM calls Altaf, Shujaat, Pagara, takes them into confidenceDar to head 3-member body to oversee implementation

Monitoring Desk

KARACHI: The governmenthas finally decided to appointLatif Khosa to succeed the mur-dered governor of Punjabprovince Salma Taseer, mediareported.

Khosa has been appointed as

Punjab governor," an official inPrime Minister House con-firmed.

The decision was taken afterKhosa held two-hour longmeeting with PM Syed YousufRaza Gilani here in the capitalon Sunday. Khosa has assuredthe PM of not repeating his past

mistakes, sources said.He had also been called on

President Zardari in Karachi fora decision to succeed SalmanTaseer, the outspoken governorof Punjab, who was gunneddown by one of his bodyguardsin Islamabad on Tuesday for

See # 6 Page 11

Khosa, almost Governor PunjabPM House official confirms the appointment

Aamir Abidi

KARACHI: Investmentin National SavingSchemes (NSS) saw ajump of 19.1 per cent YoYwith an inflow of Rs11.74billion during November2010 versus Rs9.88 bil-lion investment inNovember 2009.

However, net invest-ment in the fiscal year2010-11 down by 32.4 percent to record at Rs66.49billion in 5MFY11against Rs98.37 billion

attracted in same periodlast year.

Interest in national sav-ing gradually declinedmainly due to the reasonthat government was notoffering attractive rate,and other avenues ofinvestments were alsoavailable for investors i.e.Engro Rupiya, as per theTFD analyst.

However, NSS rateincreased in January2011 would attract freshinvestments.

See # 8 Page 11

NSS deposits up19pc YoY in Nov

5M net investment reaches Rs66.5bn

Ghulam Raja Rajani

KARACHI: With thegrowing confidence ofoffshore investors andnew allocation of fundfrom abroad, $11.9 mil-lion worth of net portfolioinvestment was seen inPakistan equity market inthe first week of NewYear, as per the NationalClearing Company ofPakistan Limited(NCCPL) data.

During the week, for-eign investors remained

on the buying side as theybought shares worth$22.69 million and soldshare valuing $10.8 mil-lion.

Furthermore, biggestbuying was seen frombanks which boughtshares worth $22.3 mil-lion. Similarly, otherorganisations and NBFCremained on the buyingside with shares worth$2.60 million and $0.27million.

On the other hand, See # 11 Page 11

Offshorers stock$11.9mn shares

KSE during last week

Local individuals eject $15mn

MQM hails Gilani decisionKARACHI: Muttahida Qaumi Movement (MQM) Sunday wel-comed Pakistan Muslim League-N's withdrawal of ultimatumgiven to the government, media reported.

Speaking to MQM party leaders and journalists on the tele-phone from London, Dr Farooq Sattar also hailed PrimeMinister's acceptance of ten-point national agenda proposed byNawaz Sharif. Sattar said the Prime Minister decision will certain-ly take the country our of prevailing crisis.

No gas forIsb, Punjab

CNG pumpsI S L A M A B A D :Managing Director (MD)Sui Northern GasCompany Rasheed Loonhas said that gas supply tofactories in Lahore region,Punjab and IslamabadCNG stations has stoppedfor an indefinite period.

In a brief telephonicinterview with a privateTV channel, he informedthat the intense winter hadwitnessed multiplicationin demand of gas con-sumption.

See # 9 Page 11

Iranian

jet crashes

with 156

on boardTEHRAN: An Iranian

passenger jet with at least105 people on boardcrashed in bad weather onSunday near the north-western city of Urumiyeh,Iranian media said.

The semi-official Farsnews agency said therewere 105 people on board,but state TV put the num-ber at 156. -Reuters

I S L A M A B A D :Following a bailout pack-age of Rs1.1 billionannounced by the federalgovernment, the crisis-hitPakistan Railways wasfinalising its prioritiesincluding maintenance of145 locomotives and reha-bilitation of rail tracks andcoaches.

A meeting in this regardwould be held by mid-January between Ministerfor Railways and Ministerfor Finance in which theformer would brief the lat-ter about projects to be exe-

cuted after release of funds."We have planed to

spend Rs 6.1 billion onmaintenance of 145 loco-motives, Rs 2 billion eachon rehabilitation of tracksand coaches while Rs onebillion would be reservedfor future use," Ministerfor Railways Haji GhulamAhmed Bilour told APP.

After their maintenance,75 per cent of locomotiveswould be used for freightcarrying and the restwould be used for passen-ger coaches.

See # 3 Page 11

Railways settlesuplift priorities

‘Q’ urgesgovt to adoptChina model

ISLAMABAD: PakistanMuslim League-Q leader,and Chairman of Pak,China Institute,Mushahid Hussain SayedSunday urged thePakistan government tofollow the Chinese modelof poverty alleviation asChina has lifted around400 million people out ofpoverty within a genera-tion time.

He was addressing aunique gathering ofaround 400 youth fromChina and Pakistan assem-bled on the occasion ofPak, China Cultural Showheld here at Pakistan,

See # 12 Page 11

2 Friday, January 7, 2011

TV PROGRAMMES

MONDAY

Time Programmes7:00 News

8:00 News

9:05 Subah Savere Maya ke Sath

11:10 The Reema Show (Rpt)

12:00 News

13:10 Faisla Aap Ka (Rpt)

14:10 Tafteesh (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With Jasmeen

23:00 News

23:30 24

ISLAMABAD: Businesscommunity here onSaturday welcomed thegovernment decision towithdraw recent hike ofpetroleum products in thecountry.

They said that the deci-sion would made positiveimpact on trade and indus-try besides enabling theindustrialists to make theirproducts competitive in theinternational markets.

Talking to APP, ex-presi-dent ICCI Zahid Maqboolsaid that increase in POLprices in domestic marketled the cause to increasethe production cost of thedifferent commodities andmade them less competi-

tive in international mar-kets.

He urged the governmentfor adopting long termstrategies to adjust with thetrend of international POLmarkets to save the domes-tic industry from the swiftincrease of fuel prices.

By decreasing govern-ment charges includingexcise duty, refinerycharges and transportationexpenditures, the impact ofinternational price fluctua-tion could be minimised,he added.

The reduction of govern-ment profit in petroleumproducts would help toreduce burden on commonpeople, he added.-APP

POL prices hike

Businessmenwelcome

withdrawalKARACHI: The ChhipaWelfare Association's(CWA) patron-in-chief"Ramzan Chhipa" has dis-tributed blankets amongthe flood evacueespresently dwelling in reliefcamps located on SuperHighway. He covered chil-dren and elders with theblankets who had beenshivering from the freez-ing wind and temperatureunder open sky.

According to a pressrelease, he had been at theIDPs' camp to witness thesituation there and whilehe did, he was prompted toaddress the situation onpriority.

He enquired the IDPsabout their problems andassured them that hewould play his role to gettheir problems resolved atthe shortest possible time.

During his talks withofficials concerned whohave been deputed to lookafter the IDPs, he said thateven though the floodwa-ters had almost vanishedbut the IDPs are still in

dilapidated conditions,which need immediateredressal.

He said that the winterwas at its apex, which hasdeepened the agony of theIDPs. Henceforth, it wasneed of the hour that thecivil society, the govern-ment and the philanthro-pists should join hands toaddress their problems.

He said he has been incontact with the IDPs andit has been a week sincewhen the IDPs haddemanded necessarygoods to keep warm. The"CWA" has resorted toquick arrangementsdespite ongoing financialcrisis for the sake ofhumanity.

"He appealed to the civilsociety, philanthropiststhat they should contributefor the welfare of thehomeless IDPs on human-itarian basis." He remind-ed that the IDPs had beenhit by the unprecedentedcalamity and they had losttheir homes and assets infloods. -Online

Chhipa distributes

blankets to IDPs

ISLAMABAD: One mil-lion registered beneficiar-ies of Benazir IncomeSupport Program (BISP)who have lost their breadearners are being givencompensation ofRs100,000 under LifeInsurance scheme.

Talking to APP,Chairperson BISP FarzanaRaja said the programmeis expediting its efforts forsocial and economicempowerment of deserv-ing women being identi-fied through its nationwidepoverty survey.

The programme wouldreach five million familiesunder the survey beingsimultaneously conductedin Punjab, Sindh andKhyber-Pakhtunkhwa andwill be completed by Junethis year. However, the sur-vey has already been com-pleted in compliance withA g h a z - e - H a q o o q - e -Balochistan in the province.

Farzana said that the sur-vey would enable regis-

tered families to get bene-fit from monthly cashgrant, vocational training,returnable loans underWaseela-e-Haq and LifeInsurance.

Moreover, HealthInsurance facilities wouldbe offered soon to regis-tered beneficiaries, sheadded. The Chairpersonsaid "Pakistan People'sParty (PPP)' manifestolargely speaks of the socialand economic empower-ment of the women and theprogramme is benefittingover three million familiesin the country."

BISP has launched animproved delivery systemthrough Mobile PhoneBanking and around150,000 beneficiaries inMusakhel, Layyah,Batgram and Larkana arebeing provided freemobiles in the first phase.

By using Mobile PhoneBanking facility, the bene-ficiaries will be able toreceive their cash grant in

most convenient and trans-parent way.

The transparency andfacilitation of the benefici-aries is the priority of theprogramme and the wholesystem is established onmodern technology, shesaid.

She said BISP is not apolitical programme and itis working for the wellbeing of the downtroddensegments of the society.

International aid agen-cies are quite appreciativeof this programme as it isproving to be a compre-hensive welfare mecha-nism for the poor people.

Farzana urged the peo-ple to support the surveyteams for successful com-pletion of the poverty sur-vey so that people in needcan be reached out andgiven their right at theirdoorstep, thus, it wouldbe a help in achievingBISP's objective of mak-ing the country a welfarestate. -APP

BISP donees to get life insurnace

I S L A M A B A D :Prominent internationalindustrialist and investor,Baron Lorne Thyssen-Bornemisza, Chairman ofSwiss-German privateinvestment groupAugustus would inaugu-rate agroventure industryin Faisalabad on Monday(today).

During his 2-day visit,

Baron would announce afurther $30 million invest-ment in value-added grainprocessing in Punjab, withAgroventures founderAamer A Sarfraz.

Baron Thyssen is com-mitted to investing inPakistan's agribusinesssector and will meet seniorgovernment and privatesector individuals to dis-

cuss Pakistan's agribusi-ness potential.

Prior to this BaronThyssen also visitedPakistan in 2009 andexpressed his desire toinvest in food andagribusiness in Pakistan,especially in value-addedprojects to benefit thefarmers of the country.

On the occasion he stat-

ed that Pakistan has hugepotential of becomingmajor player in value-added agribusiness global-ly.

Michael Solomon,Director, Augustus, HamidJourabchi, CEO,Augustus, and Ali Erfan,Director, Augustus Ltdwould also accompanyhim. -APP

Swiss co to sow $30min Pak agro-ventures

ISLAMABAD: A com-prehensive action plan tocelebrate Pakistan-ChinaFriendship year 2011 hasbeen chalked out, focusingon wider interactionbetween the two countries'leadership and peoplethrough joint activities andexchanges.

The rich array of 69events in diplomatic, cul-tural and educational areasspans the entire year withan average of five events amonth and as many as 14 inMay and 12 in November.

The year 2011 wasdeclared as the 'Pak-ChinaFriendship Year' during therecent visit of ChinesePremier Wen Jiabao toPakistan, wherein the twogovernments decided tocelebrate 60th anniversaryof the establishment ofSino-Pak diplomatic rela-tions with full fervor.

JANUARY-MARCH:Salient events in the year'sfirst quarter include hold-ing a forum on Pak-Chinapeople-to-people friend-ship', Chinese SpringFestival on January 27-31,special business forum and

nation-wide essay writingcompetition on Pak-Chinafriendship for school andcollege students.

Pakistani officials willvisit China to participate inWestern ChinaInternational Fair, UrumqiFair and KashgharInternational Fair, while a100-member Chineseyouth delegation is alreadyin Pakistan.

A delegation ofPakistan's print and elec-tronic media will visitChina in February whilewomen parliamentarians'visit will take place inMarch. A delegation ofChinese People's Instituteof Foreign AffairsDelegation will visitPakistan in March.

Pakistan BroadcastingCorporation will organizea special ceremony for air-ing China RadioInternational FM pro-gramme in Pakistan,whereas PakistanTelevision will hold week-ly Chinese language class-es from March onwards.

APRIL-JUNE: Besides aleadership level visit from

Pakistan to China, theplan's second quarter holdsa significant chunk forsports that comprisesfriendly matches by thecricket teams of Pakistanand China in Islamabadand Lahore, visit ofPakistan's women cricketteam to China and a Pak-China Friendship GolfTournament in April

Pak-China BusinessSummit will also be held inthe same month. The cultur-al activities include a paint-ing and photographic exhibi-tion at Pak-China FriendshipCentre along with perform-ances by Chinese arts troupe.Pakistani performing arts troupewill also visit China in May.

Commemorative stampsand a coin will be issuedwhile a book on Pak-Chinarelations will be launchedin May. The Pak-Chinamountaineering expeditionwill head to Korakoramheights in June.JULY-SEPTEMBER:The two countries willundergo military-to-mili-tary exchanges and friend-ship exercises in August.-APP

'Pak-China friendship Year ‘

Action plan for2011 chalked out

ISLAMABAD: The cold wave in country is still persist-ing engulfing Khyber-Pakhtunkhwa, Punjab and lowerareas of Sindh.

Dense fog with cold weather ruined the routine life inKhyber Pakhtunkhwa besides cutting the air routes of theprovincial capital to down countries; creating problemsfor people want their in-land and journeys abroad.

The concerned authorities also announced closure ofPeshawar-Islamabad motorway to ensure safety to commuters.Due to unfavorable conditions the air routes were also disrupt-ed and the Peshawar International Airport closed down by theauthorities concerned added to the miseries of the people.

This freak weather, which has a prediction for dry andcold weather phenomena, has forced the temporary closureof Peshawar-Burhan motorway interchange; while fog isgradually easing from Lahore and rest of Southern Punjab.

Meanwhile visibility at highways in and around suchcities of Punjab as Gujranwala, Multan, Rahimyar Khan,Lodhran and Okara remains at zero, while greatly affect-ing traffic flow of National Highway of Kashmore,Sindh.

To make the matters worse, 500Kv electric line ofGuddu Power Plant has tripped, suspending electricity toeight districts of Sindh and Balochistan, where a constantincrease in cold wave has been recorded, with tempera-tures in Quetta freezing to -7 degrees centigrade.

Motorway authorities have informed that visibility atmotorway remains at zero, and would be reopened fortraffic at 1100 hrs, after thinning of fog, while temporaryclosure of motorway has pressurized traffic flow over GTRoad, Dala Zak and Charsadda Road; with Specialmotorway patrols are patrolling Motor Highway. -Online

Fog disrupts life in KP, Punjab

MONDAY

Time Programmes8:00 Amnay Samnay

(Rpt)

9:00 News

9:15 Pehla Sauda

10:00 News

10:15 Bazaar

11:00 News

11:05 Ghar Ka Kharch

12:00 News

12:15 Power Lunch

13:00 News

13:05 Agenda 360(Sat Rpt)

14:00 News

15:02 Akhri Sauda

15:30 Munafa Khor Hoshiyar (Rpt)

16:15 Karobari Dunya

17:05 Ghar Ka Kharch(Rpt)

18:05 Chai Time

19:00 News

19:30 Mang Raha Hai Pakistan

20:00 News

20:05 Islamabad Say

21:00 Pakistan Aaj Raat

22:00 News

22:05 Doosra Pehlu

23:00 News

23:05 Agenda 360 (Sun Rpt)

0:00 News

Auditin SindhInfo dept

urgedKARACHI: ProvincialAdvisor to ChiefMinister Sindh on infor-mation Sharmila Faruquihas ordered audit inadvertisement section ofSindh InformationDepartment for year21009 and 2010.

The purpose of theaudit is to eradicate cor-ruption and implementtransparency in thedepartment.

In a statementSharmila said that adver-tisement section wasbeing computerised andROs were being dis-played on computer inorder to end corruptionin the department.

She added that she wasmaking her efforts tomaintain close and goodworking relationshipbetween media andSindh InformationDepartment and it was atthat time possible whenthere was a relation ofconfidence betweenthem.-NNI

OFFICE OF THE PROJECT DIRECTOR,

VACCINE PRODUCTION UNIT

SINDH TANDO JAM TELEPHONE

# 0229239323. 0229239324

AUCTION NOTICEIt is informed that auction of surplus animals of

Vaccine Production Unit, Sindh Tando Jam will beconducted at the place and time shown below. All inter-ested person are invited to participate in the auction.

EXPRESSION OF INTEREST FOR

FURNISHING CONSULTANCY

Government of Sindh has announced for setting upof the Benazir Bhutto Shaheed University @ Lyari,Karachi for meeting the needs of higher education inthe region. For this purpose the University intends toacquire consulting assistance for management andadministrative support for University.

The Consultant must possess the skills and experi-ence of at least 03 years of designing and furnishingEducational Institutions & budget estimation, for fac-ulties/departments.

The Scope of Work includes:n Furnishing of various departments (English, I.T,

Business Management, Education) with appropriatedesign and face-lifting of the premises of. BenazirBhutto Shaheed University @ Lyari, City Campus.

Interested Consultants/ Firms having in depth tech-nical expertise in Institutional framework, design andfurnishing are invited to submit their EOIs with fullcapability information (Brochure, description andexperience of similar work, bio-data of key personnelwith appropriate skills).

A consultant will be selected using the quality andCost Based System (QCBS) in accordance with theSPPRA Rules 2010. RFP will be issued to only short-listed Consultants/firms.

Interested consultants may obtain terms ofReference and short listing criteria at the addressgiven below or can access/download it from ED’swebsite (www.sindhedu.pk)

Expression of interest must be delivered to theaddress below by 25.01.2011.Name of Officer: DEPUTY SECRETARY (A&T)

Education & Literacy department, Government of Sindh

Address: 2nd floor, Secretariat # 6, Shahrah-e-Kamal Attaturk, Karachi

Telephone No: 92-21-99211224Facsimile: 92-21-99213834

Sr. Kind of Animal Place of auction Date Time of 1.

2.

3.

Buffalo

Cattle.

Sheep & Goat.

25-01-2011

25-01-2011

25-01-2011

11-00 A.M.

11-00 A.M.

11-00 A.M.

Vaccine Production

Unit, Pir Zamain

Shah Road, Sindh,

Tando Jam

Vaccine Production

Unit, Pir Zamain

Shah Road, Sindh,

Tando Jam

Vaccine Production

Unit, Pir Zamain

Shah Road, Sindh,

Tando Jam

Further information can be obtained from fol-lowing places during office hours.

1. Directorate of Veterinary Research &Diagnosis, Central Veterinary DiagnositcLaboratory, Pir Zamain Shah Road, Sindh TandoJam, Phone No. 022-2765279.

2. Project Director, Vaccine Production Unit,Pir Zamain Shah Road, Sindh Tando Jam, PhoneNo. 022-9239323, 022-9239324.

Note: Condition of auction will beannounced at the time of auction.

INF-KRY-106/11 INF-KRY-88/11

(DR. SIRAJ AHMED ISSANI)PROJECT DIRECTOR

VACCINE PRODUCTION UNITSINDH TANDO JAM.

(DR. RASHID A. SHAH)Vice - Chancellor

BBS University @ Lyari, Karachi

BENAZIR BHUTTO

SHAHEED

UNIVERSITY @ LYARI,

KARACHI

KARACHI: A group photograph of Sindh Assembly Speaker Nisar AhmedKhuhro with Director General Inter Services Public Relations (ISPR) Major

General Athar Abbas during launching ceremony of drama series “Faseel-e-JaanSe Aagay” based on true stories of brave Pakistanis at a hotel. The drama series

joint production of ISPR and CRS, a production house.-APP

KARACHI: Speaker Sri Lankan Parliament Chamal Rajapaksa along with a delegation in a group photo with Deputy Speaker Sindh Assembly Shehla Raza upon his arrival at airport.-APP

3Monday, January 10, 2010

NEW YORK: US oil prices fellon Friday in volatile trade as thestronger dollar and a stock marketslide erased earlier gains, andcrude started the year with aweekly loss.

Markets were buffeted as a gov-ernment report showed the USunemployment rate declined andthat while the economy addedjobs in December, fewer jobswere created than expected.

Brent crude posted steeper loss-es after a Thursday fire haltedproduction at a Canadian NaturalResources Ltd oil sands facility inAlberta, one factor that promptedinvestors to unwind positions thathad sent Brent's premium to UScrude soaring.

US crude oil for February deliv-ery fell 35 cents to settle at $88.03a barrel, slipping from an $89.45intraday peak. Friday's $87.25low was the weakest since prices

fell to $87.01 intraday on Dec. 17.For the week, oil ended down

3.7 per cent, the biggest percent-age loss since November. Crudeended 2010 up 15 per cent on theyear and started 2011 on Mondayat a 27-month peak.

Money managers sharply cuttheir net long crude futures posi-tions on the New York MercantileExchange in the week to Tuesdayfrom the previous period, theCommodity Futures TradingCommission said late on Friday.

Total US crude futures tradingvolume continued its rebound afterthe holidays at just above 1 millionlots traded near the end of post-set-tlement trading, well above the250-day average of 670,799 lots,according to Reuters data.

Brent crude trading volume wasjust under 500,000 lots, downfrom 630,000 lots on Thursday.

In London, on Friday ICE Brent

crude for February fell $1.19 to$93.33 a barrel, trading from$92.59 to $94.58.

The premium of Brent over UScrude prices fell to $5.30 a barrelbased on settlement prices, afterthe spread was as much as $6.56intraday on Thursday, the widestsince May 3, 2010.

Analysts said Brent's price pre-mium to US crude was due a cor-rection from the high level reachedas crude stockpiles surged at theCushing, Oklahoma, oil hub,delivery point for the NYMEXlight sweet crude contract.

Snags to supply from Canadawere expected to help ease thehigh stocks at Cushing and therewas no estimate from theCanadian Natural on Friday abouton when the 110,000 barrel-a-dayHorizon oil sands facility inAlberta would resume productionafter Thursday's fire. -Reuters

US oil slips as dollarstrengthen, equities dip

NEW YORK: The dollarshould shine this week if USdata paint a picture of a USeconomy that continues tobrighten. The US has distin-guished itself with a recentspate of strong data, whichcontrasts with flare-ups in thesmoldering euro-zone sover-eign debt crisis.

Even after a disappointingUS employment report, thedollar surged Friday, with theeuro dropping well below thekey $1.30 mark to its lowestlevel in four months.

"Investors are sheddingeuros right now for the dol-lar," said Greg Salvaggio, vicepresident of capital markets atTempus Consulting inWashington.

"The US growth outlook issignificantly better than it iswithin the euro-zone."

"The dollar is going to beking" of the first quarter of2011, he said.

European Central BankPresident Jean-Claude Trichetis to address reporters afterthe bank announces what ana-

lysts expect will be a steady-on approach to policyThursday.

Trichet is typically reticentto budge from making any-thing beyond well-trod com-ments on a commitment tokeeping inflation pressures incheck, but markets can bevolatile in the wake of hisremarks.

If Trichet expresses particu-lar vigilance toward fightinginflation, even though euro-zone growth is flagging, theeuro could see a temporaryspike, Salvaggio said, becauseinvestors could read that as asignal of an upcoming interestrate increase.

But any relief is likely toquickly fade, he said.

"We're starting to see somebig institutional money mov-ing out," of pro-euro posi-tions, Salvaggio said, mean-ing momentum could soontake the common currencydramatically lower, with adrop below $1.18 not out ofthe question, he said.

The euro in June hit a more-

than four-year low of $1.1876as the sovereign-debt crisisraged.

Friday afternoon, the eurowas at $1.2934 from $1.3002late Thursday, according toEBS via CQG.

While a move that drastic isnot likely in the near-term--or,some analysts would suggest,at all--the common currencystill could drop to $1.27, andthen to $1.25, if market play-ers become convinced theeuro's recent fall is becomingentrenched, said Robert Tull,vice president and managingdirector of foreign exchangeand commodity derivatives atFifth Third Bancorp inCincinnati.

"We had some very strategicplays by some long-term folkswhen the euro was reallyunable to make a clear breachover $1.40," in earlyNovember, Tull said.

"That set a tone to be longdollar, short euro."

A short is a bet that a cur-rency will decline in value; along is a bet a currency willrise.

Key US data this weekcould push more investorsinto the pro-dollar camp, withreadings for retail sales, con-sumer prices and industrialproduction all due Friday.

Rosier US data should alsoboost the dollar against theyen.

"The situation in Japan isbecoming worse on a dailybasis," Salvaggio said. As USdata swiftly outpaces that inJapan, "look for the yen tostart to weaken," he said. Atest of Y85 in the near-term isnot out of the question, ana-lysts said.

The dollar traded Fridayafternoon at Y83.03 fromY83.33 late Thursday. -Reuters

USD to keep rising onheels of strong data

Greenback weekly outlook

BANKOK: Asian currenciesheaded for a weekly loss, led bythe Singapore dollar and the Thaibaht, as further signs the US eco-nomic recovery is on track bol-stered demand for the greenback.

China's yuan was poised for itsbiggest weekly loss sinceDecember 2008 as data on USservice industries and jobs beateconomist's forecasts in surveys.

The Bloomberg-JPMorganAsia-Dollar Index, which followsthe region's 10 most-traded cur-rencies, dropped 0.6 per cent lastweek to 115.80 as of 10:42 a.m. inHong Kong. The Singapore dollarslumped 1.1 per cent to S$1.2960from a week ago and the Thai bahtfell 1 per cent to 30.28, its biggestfive-day decline since February2009. China's yuan retreated by

0.58 per cent to 6.6284. "The dollar has strengthened on

the good economic data out of theUS and also on concern theEuropean debt problem will comeback to hurt the markets," saidDariusz Kowalczyk, an economistat Credit Agricole in Hong Kong.

The won fell by as much as 0.5per cent on Friday on concern thecentral bank will intervene to curbappreciation after SamsungElectronics Co. said fourth-quar-ter profit slipped 13 per cent, morethan analysts had forecast. Thecurrency gained 0.6 per cent lastweek and recovered its losses onFriday to be unchanged on1119.83.

Malaysia's ringgit weakened byas much as 0.3 per cent on Fridayon speculation regional policy

makers will take measures to curbgains in their currencies to protectexporters. The ringgit later recov-ered most of its daily loss to be lit-tle changed on 3.0695.

"The scrutiny on hot-moneyinflows has always been there toensure they are not destabilizingthe market, so it could affect sen-timent," said Suresh KumarRamanathan, a currency strategistat CIMB Investment Bank Bhd. inKuala Lumpur.

Elsewhere, the Philippine pesoslid 0.6 per cent last week to 44.07per dollar and the Indonesian rupi-ah declined 0.3 per cent to 9,004.Taiwan's dollar climbed 3.6 percent to NT$29.310 on optimismthe central bank will tolerategreater appreciation of its curren-cy. -Agencies

Mostly fall for wk asUS data boosts dollar

Asian currencies

NEW YORK: US cotton endeddown about half per cent after arelatively quiet session onFriday that capped a volatileweek for the fiber.

Benchmark March cotton con-tract on ICE Futures US closeddown 0.62 cent, or 0.4 per cent,at $1.4060 per lb. It moved in athree-cent band during the ses-sion, touching a low of $1.3961and high of $1.4250.

"There is little fresh news tostimulate traders to try and moveout of the trading range," MikeStevens, an independent cottonanalyst in Mandeville, Louisiana,said. Cotton had swung wildlyearlier in the week, trading in aband of more than five cents in

three sessions. Thursday's sessionwas particularly volatile, with theMarch contract nearly rising bythe four-cent trading limit only tofall as much later.

For the week, March cottonfell 3 per cent, its sharpest losssince late November.

Analysts said prices rallied onspeculative buying linked to talkof limited supplies coming intothe new year. They later divedon selling related to a rebalanc-ing of cotton holdings by com-modity indexes.

Investment bank JPMorganChase has estimated that nearly14,000 cotton contracts could beoffloaded under the exercise,putting immediate pressure on

cotton despite its strong funda-mentals over the longer term.

Some traders think the liquida-tion pressure over the next fort-night could take ICE's bench-mark March cotton to below thekey $1.30 mark.

But some market bulls areeyeing record highs above $1.60per lb, saying this could evenhappen in the near term if supplyfears worsen from floods inAustralia and dry conditions inthe US cotton belt of Texas.

Many in the US cotton indus-try who attended an annual con-ference in Atlanta that ended onFriday appeared cautiously opti-mistic that high prices will per-sist in 2011. -Reuters

US cotton down in quiettrade after chaotic week

NEW YORK: Gold dipped onFriday, as disappointing US jobgrowth failed to revive safe-havendemand following a raft of strongeconomic data, and bullionnotched its biggest weekly declinesince May.

Bullion declined for a fifth day,its longest losing streak in sevenmonths, although it closed up froma six-week low after data showedUS employers hired fewer workersthan expected in December, and asurprise fall in the unemploymentrate was blamed on people givingup the search for work.

The nearly 4 per cent decline thisweek has called into questiongold's lengthy bull run as traderslook forward to a US economicrecovery that Federal ReserveChairman Ben Bernanke said"may be taking hold" even ifgrowth remains too weak to put areal dent in the nation's jobless rate,although continued jitters over theeuro-zone have limited the decline.

Spot gold fell 0.1 per cent to$1,369.85 on ounce at 2025GMT, having earlier touched alow of $1,352.30 an ounce, itsweakest since Nov. 26.

US gold futures for Februarydelivery settled down $2.80 anounce to $1,368.90. Silver dropped1.1 per cent to $28.71 an ounce.

COMEX futures volumeremained noticeably higher thanrecent weeks as traders returned inthe new year after the holiday peri-od. Gold futures volume was 45 percent above its 30-day average, andsilver was about 25 per cent higher,preliminary Reuters data showed.Gold's upward trend has weakenedafter prices breached below the 50-day moving average for the first timesince August, but a rebound is possi-ble if it can hold above key technicalsupport near $1,360 an ounce.

On the charts, gold has breachedbelow two important support lev-els, namely its 50-day average at$1,382 an ounce and its December

lows at the $1,360s, said AdamSarhan, chief executive of NewYork-based Sarhan Capital.

"At this stage of the game, goldis at a very important inflectionpoint. As long as gold holds abovethe $1,360s, we should be able tosee a bounce," Sarhan said.

Gold rose nearly 3 per cent inDecember, and was up 29.6 percent last year. Strong physicaldemand could also lift prices afterrecent decline. The head of theBombay Bullion Association toldReuters that gold imports to India,the world's largest consumer, arelikely to jump 64 per cent to 500-550 tonnes in 2011.

Gold-backed exchange-tradedfunds continued to see outflows,with holdings of the largest, NewYork's SPDR Gold Trust, falling toa seven-month low on Thursday.

Platinum gained 0.2 per cent at$1,731.74 an ounce, while palla-dium slipped 1.2 per cent at$749.47. -Reuters

Gold dulls,posts biggestweekly loss since May

NEW YORK/LONDON: Rawsugar futures on ICE closed up4.3 per cent in heavy volume onFriday on talk that No. 2 growerIndia may delay exports, but themarket remained well below lastweek's 30-year peak.

Coffee reversed lower whilecocoa consolidated slightly high-er. Unrestricted exports of500,000 tonnes of sugar fromIndia may be delayed, Indiantrade and industry sources said.

"There's rampant talk about thisin the market, however we believeOGL (Open General Licence) willbe kept in place," said Jeff Bauml,a senior vice president with R.J.O'Brien & Associates in NewYork, referring to the exportscheme.

Sugar from India is seen key tohelping alleviate nearby supplytightness.

The March raw sugar contracttrading on ICE surged 1.29 cents,or 4.3 per cent, to close at 31.53cents per lb, moving in a wide2.52-cent range and reaching asession high at 32.10 cents.

Total volume surged to its high-est in nearly two months above150,000 lots, preliminaryThomson Reuters data showed.

White sugar futures on Liffewere also higher with March clos-ing up $16.90 at $765.10 a tonne.

Raw sugar has seen an excep-tionally volatile week of trade,with wide daily ranges of about 2to 3 cents and the market chang-ing direction every day. It fin-ished the week down 1.8 per centin rangebound dealings.

Cocoa futures rose, as the mar-ket began to creep up again afterprices in London slid to a three-week low this week.

Signs that cocoa was flowingout of West Africa at a good pacedespite political tensions in topgrower Ivory Coast may help tocap gains, dealers said.

May cocoa on Liffe finished up3 pounds at 1,936 pounds, farbelow a peak of 2,094 pounds hitin early December on post-elec-tion turmoil in Ivory Coast.

March cocoa on ICE rose $20to finish at $2,850 per tonne.

Coffee futures reversed lower,with the recent uptrend in the dol-lar helping to pressure prices.

March arabicas on ICE dropped2.30 cents to finish at $2.3070 perlb, while May robustas on Liffeclosed down $6 at $2,023 a tonne.-Reuters

Sugar bounds up bigon India export woes

TORONTO: The Canadiandollar finished stronger againstthe US currency on Friday,buoyed by a firm domesticjobs report that helped it side-step a disappointing read onthe labor market in the UnitedStates.

The currency strengthenedearly in the session on the backof better-than-expectedCanadian jobs numbers andtouched its highest level infive sessions at C$0.9899 tothe US dollar, or $1.0102.

But trading was volatile aftera report showing US employ-ers hired fewer workers thanexpected in December and asurprisingly large number ofpeople gave up searching forwork.

"We should be seeing a lotstronger (US) job numbers atthis point in the recovery and Ithink that because we're not, itjust solidifies that the (US

Federal Reserve) is not only onhold, but will maintain veryloose and alternative policy forsome time to come," saidCamilla Sutton, chief currencystrategist at Scotia Capital.

"That's negative for the USdollar," she said.

By contrast, Canada added22,000 jobs in December com-pared with 15,200 inNovember, and more than the17,500 forecast. The unem-ployment rate held steady at7.6 per cent for a secondmonth.

The jobs figures will notlikely persuade the Bank ofCanada to hike interest rates atits policy-setting decision laterthis month, but suggests thecentral bank may raise ratessooner than some had expect-ed.

The Canadian dollar finished0.5 per cent higher on Fridayat C$0.9918 to the US dollar,

or $1.0083, on Friday, fromthe previous session's close atC$0.9969 to the US dollar, or$1.0031.

The currency extended itsstreak of trading above parityfor a ninth straight session, andnotched a weekly gain of 0.3per cent.

Most of Canada's primarysecurities dealers now expectthe central bank to resumeraising interest rates in the firsthalf of this year with econom-ic prospects having brightenedin the past month, a Reuterspoll showed.

In a December poll, themajority forecast rate increas-es in the second half of thisyear with the median predic-tion of a first hike in July.

The central bank halted itsrate-hiking campaign afterthree successive increases lastyear in part to gauge thepatchy US recovery. -Reuters

C$ rallies on jobs relief;gains 0.3pc for week

Copper bendslower for4th day

NEW YORK/LONDON:Copper ended down for a fourthconsecutive session on Fridayafter disappointing jobs data inthe United States tempered someof the economic recovery opti-mism behind the metal's early-year rally to record highs.

Prices of the industrial metalpulled further away from recordpeaks at $9,754 per tonne inLondon and $4.4980 per lb inNew York, falling to their lowestlevels in two weeks, as investorsslashed growth projections inresponse to the softer-than-expected jobs data.

"It shows that the US is stillfacing severe problems, and itwill take a bit of time before itrecovers to pre-crisis levels,"Commerzbank analyst DanielBriesemann said, referring to thepayrolls report.

London Metal Exchange(LME) benchmark copperclosed down $45 at $9,425 atonne, after sinking to a sessionlow at $9,300, its lowest sinceDec. 24. COMEX copper forMarch delivery shed 4.70 centsto end at $4.2825 per lb.

The losses place the bench-mark COMEX contract right atits 20-day moving average, alevel seen keeping prices lockedin an area of consolidation.

Also weighing on copper wasthe prospect of commodity indexrebalancing, which could seelarge sales of copper after gainsof more than 30 per cent last year.

Stocks of copper in LondonMetal Exchange warehouses at379,525 tonnes are down morethan 30 per cent since the middleof February. But since Dec. 9,they have increased by morethan 8 per cent.

Lead closed down $7 at$2,649 a tonne. On Thursday ittouched $2,712.75 a tonne, itshighest since May 2008 on con-cern about supplies fromAustralia. Aluminium closed flatat $2,518 a tonne. News that alu-minum maker Alcoa Inc plannedto restart three idled aluminumsmelters in the United States inthe first half of 2011 failed tomove the market. -Reuters

US corn, soyfall as funds

rebalanceCHICAGO: US corn, soybeansand wheat futures started 2011with the first weekly decline inmore than a month as investmentfunds rebalanced portfolios andtraders consolidated positions onFriday ahead of next week's gov-ernment crop report.

The US AgricultureDepartment will release its sup-ply and demand report on Jan.12 and analysts expect the gov-ernment to put US corn suppliesat the lowest level in 15 yearsand keep US soybean stocks atthe same tight levels from lastyear.

Chicago Board of Trade cornfutures for March delivery brokebelow $6 per bushel for the firsttime in two weeks, closing 7cents lower at $5.95 per bushel.March wheat ended 15 centslower at $7.74, a decline of near-ly 2 per cent, and March soy-beans settled 13 cents lower at$13.65.

Volume in corn futures wasabout 20 per cent higher than the30-day average, wheat volumeabout 10 per cent above averageand soybean volume nearly 20per cent below normal. -Reuters

Sterlinggains mostagainst euroin two years

LONDON: The pound postedits biggest gain versus the eurosince January 2009 as investorsspeculated the UK economy willrecover faster than the nationsthat use the common currency.

Sterling appreciated to itsstrongest versus the euro inalmost four months and declinedagainst the dollar. A survey ofeconomists forecast the Bank ofEngland will raise its benchmarkrate in the third-quarter of thisyear, and a report showed UKmanufacturing increased morethan predicted in December.Portuguese and Spanish bondyields rose as investors preparedfor debt auctions next week.

"The market is starting to getbulled up on sterling and we aretoo," said Greg Anderson, a cur-rency strategist at Citigroup Inc.in New York. "Austerity doesn'tseem to have had that big animpact on growth and growth isaccelerating faster than in theeuro-zone."

The pound strengthened 3 percent to 83.19 pence per euro, asof 6:07 p.m. in London onFriday, its strongest level sinceSept. 13, and the biggest one-week advance since the weekending Jan. 30, 2009. Againstthe dollar, the British currencywas at $1.5540 from $1.5612 aweek ago.

Sterling strengthened 1.8 percent in the week, according toBloomberg Correlation-Weighted Currency Indexes,which track a basket of 10developed-country currencies.Central bank policymakers meeton Jan. 13 and are forecast toleave their bond-purchase planat 200 billion pounds and holdits benchmark interest rate at arecord low of 0.5 per cent,according to a survey of econo-mists.

Economists forecast the UKbenchmark interest rate will riseto 0.75 per cent from 0.50 percent in the third quarter of thisyear, according to a survey ofeconomists.-Agencies

Unemployment rate falls, but jobs rise below forecast

Specs boost USD shortsin the latest week: CFTCNEW YORK: Currency speculators increased bets against the USdollar in the latest week, data from the Commodity FuturesTrading Commission showed on Friday.

The value of the dollar's net short position rose to $12.4 billionin the week ended Jan. 4, from $8.85 billion the previous week,according to Reuters and CFTC calculations.

Speculators slightly trimmed bets against the euro in the latestweek as the currency rebounded at the end of December on year-endflows and after it failed to break below its 200-day moving average.The euro, however, came under renewed selling pressure in Januaryamid concerns about the high debt levels in Portugal and Spain andon signs of a strong-than-expected US economic recovery.

The CFTC data also showed speculators increased their bets infavor of the Japanese yen and Canadian dollar in the latest week,but trimmed long positions in the Swiss franc and Australian dollar.

The Reuters calculation for the aggregate US dollar position isderived from the net positions of International Monetary Marketspeculators in the yen, euro, British pound, Swiss franc, Canadianand Australian dollars. -Reuters

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

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

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

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

use of these reports and recommendations.

Punjabrunning

out of gas Pakistan largest province, Punjab is currently

experiencing prolonged outages of natural gasand the situation seems to be going from bad toworse. Never, in the recent past the provincehas experienced such a situation, leading toviolent demonstration. In some cities peoplehave attacked offices of SNGPL and blockedroads. It is feared that if corrective steps are nottaken serious law and order crisis may emerge.

Historically, gas load shedding has beenundertaken during winter but over the last fewyears outages have broken all the previousrecords. While supply of gas to industrial unitsand CNG stations is being suspended for days,woes of domestic consumers have worseneddue to low pressure and outages. One wonderswhat has gone wrong this year.

Rashid Lone, Managing Director, SNGPLattributes the outages to increasing demand ofdomestic consumers during winter and drop ingas pressure --- which to him is an occasionalphenomenon but in fact it has a contrary reali-ty. These outages and drop in pressure seem theoutcome of gross mismanagement rather thansupply constraints.

At present the shortfall faced by the country isestimated between 700mmcfd to 900mmcfd.Therefore, the impression being created bySNGPL that it faces a shortfall of 900mmcfd isincorrect. SNGPL management was fullyaware of the estimated shortfall during the win-ter but it failed in preparing a detailed loadmanagement plan in consultation with its bulkconsumers.

Though, fertiliser plants getting gas from Suitwins were told to observe complete shutdownfor 45 days but no likely impact was knownbecause three of the largest urea producers getsupply from Mari field and the consumption offertiliser industry is around 5 per cent of thetotal gas produced in the country.

As against this, power plants consume over25 per cent of total gas produced in the country,but more and more gas is being diverted topower plants to contain electricity generationcost. In the prevailing scene governmentshould immediately stop gas supply to powerplants because these can be run on alternatefuels like furnace oil and diesel. As such elec-tricity consumption goes down substantiallyduring winter.

Industrial units must be capable of switchingpower plants to alternative fuels from gas at theearliest. Closure of industries is affecting coun-try's GDP and rendering workers jobless.Suspension of gas supply to fertiliser plantswill entail its import, eroding foreign exchangeand billions of rupees subsidy.

Since Punjab government is headed by PML-N, it can very conveniently blame the federalgovernment headed by PPP of victimisation.Prime minister should immediately look intothe issue because his party has a huge votebank in the province.

4Monday, January 10, 2011

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

Editor: Shakil H. Jafri

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The Financial Daily InternationalVol 4, Issue 149

President Barack Obama'smidterm shift to the center isgaining momentum as he tries to

strike a more business-friendly,deficit-conscious tone and steal someof the Republicans' thunder to boosthis 2012 re-election chances.

Facing a newly empoweredRepublican opposition, Obama ismoving to retool both his staff and hismessage, hoping to win back moderatevoters who swept him into office twoyears ago but deserted his Democratsin the November congressional elec-tions.

Obama's strategy promises greaterefforts to bridge the partisan divide butat the same time seeks to claim politi-cal turf that Republicans thought theyhad staked out as their own.

"No doubt, this administration willbe trying to sound as tough on debt andspending as any Republican," saidTerry Madonna, a political scientist atFranklin and Marshall College inPennsylvania. "It's a fight for thehearts and minds of independents."

Republicans won the House ofRepresentatives and weakened theDemocratic majority in the Senate bytapping into public anxiety over abroad expansion of government underObama, who they painted as a big-spending liberal lacking a viable planto heal the economy or reduce jobless-ness.

Despite the new balance of power,Obama appears to have found a way torecover some lost ground -- by takinga page from fellow Democrat BillClinton's "triangulation" playbook.

After suffering a similar midtermrout in 1994, Clinton turned the tableson the Republicans and embraced tra-ditional conservative themes like bal-anced budgets and welfare reform, rid-ing those issues to resounding re-elec-tion two years later.

Absorbing the lessons of his ownelectoral "shellacking," Obama startedhis move to the middle last monthwhen he forged a compromise tax-cutpackage with the Republicans overfierce objections from his liberal base.

Since then, his public approval rat-ing, which hit new lows just before the

November elections, has edged higher,recently touching 50 per cent in oneGallup poll.

A dose of modestly favorable eco-nomic news -- Friday's governmentreport of a drop in unemployment to9.4 per cent from 9.8 per cent inDecember -- could give him anotherboost.

PRO-BUSINESS RESHUFFLEJust back from his Hawaiian vaca-

tion, Obama is seeking to build on anew political dynamic that produced

several legislative successes in thefinal days of December's "lame duck"congressional session.

Though Republicans now holdgreater clout on Capitol Hill, theyseem to have been caught flat-footed

by Obama's political agility after hav-ing outmaneuvered him for much ofthe past year.

Obama even came close to upstagingthe Republicans' ceremonial takeoverof the House last week with the unveil-ing of his biggest staff shake-up sincetaking office.

His appointment of Treasury aideGene Sperling as his top economicadviser and JPMorgan Chase & Coexecutive William Daley as chief ofstaff promise fresh thinking in hisinner circle as he grapples with thenew Congress while pushing a job-cre-ation agenda seen as crucial to gettinghim re-elected.

Both are pragmatic veterans of theClinton years, an era of economicprosperity, and their Wall Street con-nections could help repair Obama's

frayed relations with the businessworld.

In the aftermath of an acrimoniouscongressional election, Obama hasalso insisted he wants to move pastideological differences and find ways

to cooperate across party lines.His call for a return to more civil

public discourse could take on newresonance after a shooting rampage inArizona on Saturday in whichDemocratic US lawmaker GabrielleGiffords was seriously wounded andsix people were killed.

Some have suggested that a climateof political vitriol in Arizona -- wherea firestorm has raged over immigrationand other divisive issues -- may haveplayed a role.

National politicians across the spec-trum united in condemning the attack,and Congress put off its agenda for theweek, including a vote on the repeal ofObama's contentious healthcare over-haul.

NO BUDGETARY SACREDCOWS

With a battle already brewing inWashington over Republican demandsfor deep spending cuts in exchange forraising the national debt limit, theObama administration is scrambling todepict itself as just as fiscally mindedas the other side.

Obama spoke in his Saturday weeklyradio address of the need to "wrestlewith a challenging budget and long-term deficits," and top aides havetaken to the airwaves to talk up fiscalrestraint -- though they've offered fewspecifics.

In recognition of growing sentimentin Washington that even defensespending is no longer a sacred cow, thePentagon on Thursday unveiled plansto cut $78 billion in spending over fiveyears, including a reduction of up to47,000 troops.

How to address the $1.3 trilliondeficit will be a big part of the politi-cal debate in the second half ofObama's term, and he is mindful thathe must show he is on the right side ofit.

Obama will offer his own fiscalvision when he gives his State of theUnion speech later this month and hecould propose some form of tax reformas a way to reach out to Republicans.

A risk for Obama is alienating keyliberal constituencies already angeredby concessions he has made. But ana-lysts say he is unlikely to go farenough to provoke a serious presiden-tial challenge from the left.

"Liberal Democrats will yell, butthey will stay with him. Where elsecould they go?" said Stephen Wayne, apolitical scientist at GeorgetownUniversity.-Reuters

The Big Shift

Extravagant weddingswith music and dancewere banned by

Afghanistan's Taliban as un-Islamic and now the govern-ment plans to again rein inlavish marriage celebrations,but this time to stop groomsgoing broke.

Since US-backed Afghanforces ousted the strictIslamist Taliban in 2001,Afghans have revived the tra-dition of holding big wed-dings, costing thousands ofdollars, in a country where theaverage annual income is lessthan $400.

Afghan weddings are cele-brated by hundreds of guestsin luxurious wedding hallswith the groom and his familyexpected to foot the bill andagree to every request of thebride and her family.

"Wedding ceremoniesamong people are like a com-petition, no one wants to comelast, people like to show offtheir wealth by feeding hun-dreds of guests in costly wed-ding halls," said JusticeMinister Habibullah Ghaleb.

"Families are the victim ofsuch a wrong tradition andhave to accept these heavyburdens," he said.

Details of the planned banon expensive weddings werestill being worked out, saidJustice Ministry spokesman

Farid Ahmad Najibi, and heacknowledged it could be dif-ficult to enforce because lav-ish weddings were soingrained in Afghan culture.

State institutions were shat-tered during decades of con-flict, with regional, ethnic andtribal differences also makingit difficult to enforce laws.Violence is at its worst sincethe Taliban were ousted, mak-ing security a priority evenwhile authorities try to rebuildthe aid-r e l i a n teconomy.

R a f iK a z i m i ,24, and hisf a m i l ys p e n ta b o u t$ 1 0 , 0 0 0when hem a r r i e dF a r i m a ,20, inO c t o b e r .The couple had 600 guests attheir wedding in Kabul. Taxidriver Kazimi and his familyare now repaying at least$6,000 in bank loans.

But Kazimi recently lost hisjob and his family -- his wife,mother, father, grandmother,two sisters, three brothers andone of their wives -- are sur-viving on his older brother'ssalary of $410 a month, $300

of which is used to repay theloans.

"It was too much," Kazimisaid of the money spent on hismarriage to his first cousin. "Iwas so worried about how tofind this money. Her parentsdidn't care if I had the moneyor not, they just said we musthave a big wedding."

While Kazimi thought a banon expensive weddings was agood idea, he doubted if itwould be accepted. Along

with the wedding celebra-tions, a groom and his familyare also expected to pay forornate outfits for the bride andgroom.

"A HUGE BURDEN"

The government's bid toregulate weddings followssimilar moves by some tribalelders and provincial officials.

Late last month, elders fromseveral villages in northern

Jawzjan province bannedexpensive weddings anddowries in a bid to encourageyoung people to marry insteadof postponing their nuptialsbecause they could not affordit.

Under the rules, the cost of awedding must be in line withthe economic status of thegroom, and if someone vio-lates the ban then they will notbe invited to any other wed-dings in the village.

"Marriageis everyone'sright and itmust not bepresented asa huge bur-den for thebride andgroom," saidA z a a dKhwa, anelder fromJ a w z j a n ."Making theg r o o m ' s

family pay for everything andfeed hundreds is a big sin."

Many elaborate weddinghalls have sprung up aroundKabul over the past nineyears, compared with just afew that operated while theTaliban were in power from1996 to 2001.

Guests attending weddingsat City Star Hall in Kabul'sWazir Abad neighbourhood

drive through a lit-up moon tothe entrance and a large silverstar adorns the roof. It openedthree months ago at a cost of$5 million, said manager ZabiMujeeb.

It has four wedding hallsand hosts about 70 weddings amonth, with an average of 800to 1,000 guests, Mujeeb said.Prices per guest range from$12 to $23 for the food.Music, a cake, decorationsand a photographer are allextra.

"The people living in thecity, they don't like to have alot of guests," said Mujeeb."But the people living inprovinces, they like to have alot of guests."

In the largest of City StarHall's venues, staff was put-ting the finishing touches ondecorations for the wedding ofa couple from nearby Parwanprovince. There will be 1,600guests at a cost of $16,000.

The opulence makes one'shead spin.

The bride and groom wereto walk over a bridge above afountain in front of mountainlandscape mural. Theydescend onto an illuminatedwalkway under arches of fakeflowers to a stage where theywill be seated on silver-coloured thrones.

"The grooms find themoney," said Mujeeb.-Reuters

Espousing Extravagance

Chinese President HuJintao travels toWashington for meetings

with President Barack Obamaand a state visit on January 19.

Here are five items on the wishlists that the leaders of theworld's largest economies --who are competitors but also keypartners -- will bring to theirsummit.

OBAMA

Currency and Trade: Obamawill push Hu to let China's yuancurrency appreciate. Washingtonsays Beijing keeps the currencytoo low, giving it an unfairadvantage in international trade,and Obama has repeatedlywarned China against relyingtoo much on selling its productsabroad for growth.

Nuclear diplomacy: Obama is

expected to ask Hu for morehelp persuading Pyongyang toabandon nuclear weapons andavoid potentially destabilisingactions like the North's bom-barding of a South Korean islandand sinking of a navy ship lastyear.

He also wants Beijing's con-tinued help in pushing Tehran onits nuclear program. Washingtonwants tougher sanctions on Iranto convince the Islamic repub-lic's leaders to curb their nuclearambitions.

Showing strength: The USpresident wants to boost percep-tions that he is a strong leaderafter his Democrats lost heavilyto Republicans in the November2010 congressional electionsand after he was criticised forseeming too weak during his

November 2009 visit to China.Military: He is likely to seek

reassurances from Hu aboutChina's long-term military ambi-tions -- some US officials areconcerned about Chinese spend-ing on its military as its econo-my booms -- and what they seeas Chinese aggression in theregion and secrecy about itsplans.

Ceremony: The White Housewants a visit with no embarrass-ing glitches, and highlighted bya glittering state dinner and otherceremonial occasions. Securitywill also be extra-tight, to avoidanything like the 2006 protest orthe party-crashers who madetheir way into Obama's state din-ner for India's leader in 2009.

HU

Currency and trade: The

Chinese president wants toassurances for his workers andexport industries that Americanmarkets will remain open toChinese goods.

Nuclear diplomacy: Hu, whomakes stability on the Koreanpeninsula a priority, is likely topush Obama to return to negoti-ations with North Korea andsoften the US stance that it willnot talk again without NorthKorean concessions.

Legacy: For Hu, the trip islargely about his legacy -- VicePresident Xi Jinping is set tosucceed him as China's presidentafter late 2012. While sending amessage of US-Chinese cooper-ation, he wants to show adomestic audience that he is ableto stand up to Washington andnot make too many concessions.

Military: China wants to alle-viate perceptions it believes aregrowing in the United States andelsewhere in Asia that China is athreat. It also may want reassur-ances on the perennial stickingpoints of US arms sales toTaiwan, which Beijing considersa renegade province, and USmilitary operations near China'sshores.

Ceremony: China wants asmooth summit, with all thetrappings of a formal state visitand no embarrassing incidents.Hu's last visit to Washington, in2006, was marred by glitches,most notably an incident inwhich a shouting protester fromthe Falun Gong spiritual move-ment interrupted Hu's openingremarks on the White Houselawn.-Reuters

War of the Wishes

Facing a newly empoweredRepublican opposition, Obama is

moving to retool both his staff and hismessage, hoping to win back moderatevoters who swept him into office two

years ago but deserted his Democrats inthe November congressional elections

“

A risk for Obama is alienating keyliberal constituencies already angered

by concessions he has made. Butanalysts say he is unlikely to gofar enough to provoke a serious

presidential challenge from the left

Since US-backed Afghan forcesousted the strict Islamist Taliban in

2001, Afghans have revived thetradition of holding big weddings,costing thousands of dollars, in acountry where the average annual

income is less than $400

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 14.73 106.09 KESC 3.16 57.63 FFBL 38.44 51.10 DGKC 30.48 32.44 NBP 77.65 30.36

Symbol Close ChangeNESTLE 2,471.66 96.80

POL 321.71 25.75

MTL 522.88 23.10

NRL 290.92 17.13

FZTM 413.61 13.61

Symbol Close ChangeIDYM 254.06 -74.14BATA 642.71 -46.44PECO 216.60 -33.39RMPL 2,090.30 -19.57SIEM 1,234.90 -18.61

Plus 216Minus 197Unchanged 13

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

Weekly Review

LSE-25 Index

ISE-10 Index

Active Issues

Monday, January 10, 2011 5

Dhiyan

Bullish activities are likely to sustain in the market whereindex can touch 13,000 level soon due to continued influxof foreign investment. Investors are therefore advised toinvest in bluechip stocks of oil and fertiliser sectors. Nochange in the interest rate would trigger the market howev-er furhter monetary tightening would hurt the market. Theday would be green.

Mohsin Adhi, Director Alfa Adhi Securities

Faisal Shaji, Head of Online Equities and Institutional Sales Standard Capital Securities

Technically as reflected by MACD, market outlook is bullish and it can touch14,000 level in the next 3-4 months. Investors better lay hands on stocks the earn-ings of which are likely to grow. They can also go for high-dividend-yielders inoil & gas, power, and fertiliser sectors. Our top picks are EPCL, GHGL, KAPCO,SSGC, and MTL. But it should be kept in mind that in around June 2011 marketwould be on the verge of crisis due to chronic debt haemorrhaging. Rising foreigninterest in the oil sector is continuously moving the index up and it is likely to con-tinue doing so in the coming days as well. Market would be positive today.

GOOD DAY

Opening 12,022.46 Closing 12,389.04 Change 366.58% Change 3.05Turn over (mn) 775.03

Opening 3,733.01 Closing 3,783.95 Change 50.94% Change 1.36Turnover (mn) 34.03

Opening 3,016.70 Closing 3,155.91 Change 139.21% Change 4.61Turnover (mn) 1.80

FRANKFURT: Traders are pictured at their desks in front of the DAX board atthe Frankfurt stock exchange.-Reuters

NEW YORK: Investorshead into this week on thedefensive as the potentialfor US equity gains could belimited even if earningsbegin on a strong note.

The early fourth-quarterresults will set the tone. Anyweakness will give traders areason to pull back from therally of recent weeks, whichstalled on Friday on bankstock losses and lacklusterjobs data.

Still, the major indexesfinished with a sixth straightweek of gains: the Dow wasup 0.8 per cent, the S&P 500up 1.1 per cent and theNasdaq composite indexahead 1.9 per cent.

Alcoa Inc is set to releaseresults on Monday after themarket's close, unofficiallylaunching the quarterlyearnings season. Intel Corpand JPMorgan Chase & Co,also Dow components, willlikewise issue their reportcards in the week and areexpected to do well.

"It will be important to getout of the box with a posi-tive note," said JamesDunigan, who helps manage$105 billion at PNC WealthManagement inPhiladelphia. "If that's thecase, we have a little way torun and can keep rising, butif the results disappointthere will be reason to stepback."

The S&P 500 has climbed

7 per cent since the start ofDecember while Alcoa hassoared 25 per cent andJPMorgan has surged 16 percent. Analysts say that suchrapid gains leave the marketmore vulnerable for a pull-back and could limit upsidepotential.

The S&P 500 has strug-gled to break above 1,280,though a floor appeared tobe developing around 1,260,the 14-day moving averageand near the 2010 close.

Jeffrey Friedman, seniormarket strategist at Lind-Waldock in Chicago, saidthat if results come in line ormiss expectations "we couldsee as much as an 8 per centpullback." Upside potentialis 4 per cent to 5 per cent"and that's only if earningsbeat convincingly," he said.

Friday's Decemberemployment report couldincrease the likelihood ofstocks' retreating. While theunemployment rate droppedby a hefty amount inDecember, far fewer work-ers were added than expect-ed.

"There's good, bad andugly in that report,"Friedman said. "The goodwas the unemployment rate,the bad was that we didn'tmeet expectations, and theugly is that we don't knowwhether the good or bad ismore right."

This week will also see

retail sales data on Friday,which will be closelywatched following softDecember comparable sales.On Wednesday the FederalReserve will release theBeige Book.

The Beige Book, an anec-dotal report on the economyby region, comes afterChairman Ben Bernankegave his first congressionaltestimony since launching asecond round of quantitativeeasing. Bernanke said thatthe economy may finally behitting its stride even ifgrowth remains too weak toput a real dent in the USunemployment situation.

Bank stocks could be pres-sured further this week aftera ruling by Massachusetts'highest court that invalidat-ed the seizures of two homesin foreclosure by WellsFargo & Co and USBancorp.

The KBW Banks index isup 18 per cent since the startof December but fell 0.9 percent on Friday.

The ruling could impactbank foreclosures nation-wide and "dampen recoveryprospects for the real estatesector and banks," said NickKalivas, senior equity indexanalyst at MF Global inChicago. "Financials havereally been a leader in themarket in recent weeks; thiscould close that sector out."-Reuters

Earnings to set tone,upside maybe limited

Wall Street weekly outlook

Nawaz Ali

KARACHI: Bulls hornedaside the security tension andpolitical uncertainty last weekearning Karachi StockExchange around 3.05 per centafter more than 30 months.

This feat was an upshot ofhopes that corporate resultswould be good and a leverageproduct would come soon. Anadded boost also came fromhigher international oil prices.

The benchmark KSE 100-Index leapt up by 366 points -3.05 per cent-- to close at12,389 points -its highest closesince June 2008.

KSE 30-Index gained 373points -3.22 per cent- to close at11,961 points and KSE All-Share Index rose by 232 points--2.79 per cent-to close at 8,592points.

"Despite the prevailing lawand order situation in the coun-try, after the assassination ofthe governor Punjab coupledwith political uncertainty, mar-ket continued its ascent", saidMazhar A Sabir, analyst atInvestCap.

Following the decision by theMQM to quit federal govern-ment, market started the week ona bearish note on Monday andsaw 173 points vanishing and atone moment during intradaytrade touched its lowest level ofthe week at 11,761 points.

Thereafter despite tense secu-rity situation in the country inthe wake of governor PunjabSalman Taseer's assassination,market witnessed some bullishactivities during the remaineddays of the week as local andforeign institutional investorstook positions mainly in oil,fertiliser and textile stocks.

Further, hopes of improve-ment in political tension whichdid improved mainly afterreversal of petroleum priceshike, visit of PM Gilani to

MQM headquarters. Besidethat, hopes of early launch ofmuch awaited leverage productalso supported the bullishmomentum in the market.Therefore index gained morethan 500 points together duringthe remaining four trading daysof the week and also touched ahighest level of the week of12,430 points.

Ahsan Mehanti, Director atArif Habib Investments saidthat institutional & foreigninterest in blue chip oil & gas,fertiliser scrips continued onhopes of record earningannouncements.

Expectations of an earlyapproval of leverage productskept investor sentiment positivedespite concerns over rising fis-cal deficit and IMF statementson Pakistan energy subsidies,he added.

Local banks were the majorbuyers as according to NCCPLlenders did a net-buying of $22.4 last weekwhile foreign investors alsoremained on the buying side bydoing a net-buying of $11.9million.

Volumes were impressivethroughout the week as 775million shares were traded inthe overall market which is 196million shares more than aturnover of 579 million a weekearlier.

Lotte Pakistan stood as thevolume leader with 106.09 mil-lion shares followed by KESCwith 57.63 million shares andFauji Fert. Bin Qasim with51.10 million shares.

Average daily turnover was155 million shares --39.2million more as compared toan average volume of 115.8million last week. Therewere 426 issues active dur-ing the week but of that total216 moved ahead, 197retreated, and 13 issuesmoved neither way.

Gainsgaloreat KSE

last week

Gulf stocks mkt

Dubai indexends down;

Saudi retreatsDUBAI: Saudi Arabia's indexTASI ended lower, retreatingfrom an eight-month intradayhigh as petrochemicalsdeclined and banks were large-ly flat.

Saudi Basic Industries Corp(SABIC) and Saudi Kayaneach dropped 0.7 per cent.

The petrochemicals index fell0.4 per cent, easing from anearly-session eight-monthpeak. It is up 17 per cent overthe past 12 months, outper-forming the bank index, whichhas risen 4.3 per cent over thesame period. Al Rajhi Bank fell0.3 per cent.

"Banks are not showing loangrowth of any significance andwe don't know what provisionswill be like in Q4 - people don'twant to get caught out like theydid in Q3, so have steppedaway from bank shares for thetime being," said a Riyadh-based trader at an internationalbank.

Saudi banks' third-quarterearnings broadly missed esti-mates, in part because the cen-tral ordered lenders to takeextra provisions.

The main index fell 0.09 percent to 6,723 points.

Dubai's index DFM endedlower for a fourth session infive as a lack of stock specificnews spurred local traders tolock in early-year gains.

Drake & Scull lost 0.9 percent, Emaar Properties fell 0.8per cent and Arabtec dipped 0.5per cent.

This trio accounted for nearlyhalf of all shares traded on theindex, which slips 0.2 per centto 1,666 points, trimming itsyear-to-date gains to 2.1 percent.

"Sunday is usually very slow- international markets areclosed, so foreign investorsprefer to wait until Monday totake positions, leaving localand retail investors to drive themarket," said Marwan Shurrab,vice-president and chief traderat Gulfmena AlternativeInvestments.

With Dubai sluggish, localinvestors have switched atten-tion to Abu Dhabi whereindebted developer AldarProperties climbed 2.9 per centas investors bet governmentsupport could be imminent.

See # 13 Page 11

Asian stocks gain for 4th weekas US data boost exporters

US stocks surge for 6th straightweek as data beat forecast

Monday, January 10, 20116

Volume 775,028,396

Value 37,738,390,854

Trades 407,173

Advanced 216

Declined 197

Unchanged 13

Total 426

Current 8,592.23

High 8,618.44

Low 8,181.35

Change h232.92

Current 12,389.04

High 12,430.16

Low 11,761.28

Change h366.58

Current 11,961.38

High 11,990.26

Low 11,311.90

Change h373.14

Market KSE 100 Index All Share Index KSE 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

Nishat Power Limited

NPL closed up 1.07 at 17.30. Volume was 66 per cent below average

(consolidating) and Bollinger Bands were 7 per cent wider than normal.

The company's profit after taxation stood at Rs55.365 million which

translates into an Earning Per Share of Rs0.156 for the 1st quarter of

current fiscal year (1QFY11).

NPL is currently 48.4 per cent above its 200-day moving average and is

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

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

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

casting oscillators are currently bullish on NPL. Momentum oscillator is

currently indicating that NPL is currently in an overbought condition.

RSI (14-day) 73.47 Total Assets (Rs in mn) 22,436.60

MA (10-day) 16.37 Total Equity (Rs in mn) 3,615.26

MA (100-day) 13.16 Revenue (Rs in mn) 1,018.36

MA (200-day) 11.66 Interest Expense 185.49

1st Support 17.09 Profit after Taxation 47.18

2nd Support 16.94 EPS 09 (Rs) 0.133

1st Resistance 17.50 Book value / share (Rs) 10.21

2nd Resistance 17.76 PE 10 E (x) 27.72

Pivot 17.35 PBV (x) 1.69

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

NETSOL closed up 1.04 at 20.17. Volume was 31 per cent above aver-

age and Bollinger Bands were 20 per cent narrower than normal. The

company's profit after taxation stood at Rs194.76 million which trans-

lates into an Earning Per Share of Rs2.64 for the 1st quarter of current

fiscal year (1QFY11).

NETSOL is currently 14.0 per cent below its 200-day moving average

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

compared to the average volatility over the last 10 trading sessions.

Volume indicators reflect very strong flows of volume into NETSOL

(bullish). Trend forecasting oscillators are currently bullish on NETSOL.

RSI (14-day) 69.21 Total Assets (Rs in mn) 3,980.15

MA (10-day) 19.07 Total Equity (Rs in mn) 3,337.21

MA (100-day) 18.94 Revenue (Rs in mn) 1,845.02

MA (200-day) 23.43 Interest Expense 24.80

1st Support 19.85 Profit after Taxation 951.86

2nd Support 19.60 EPS 09 (Rs) 12.217

1st Resistance 20.35 Book value / share (Rs) 42.83

2nd Resistance 20.60 PE 10 E (x) 1.91

Pivot 20.10 PBV (x) 0.47

NetSol Technologies Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

NICL closed up 0.03 at 2.03. Volume was 103 per cent above aver-

age and Bollinger Bands were 53 per cent wider than normal. The

company's loss after taxation stood at Rs2.377 million which trans-

lates into a Loss Per Share of Rs0.01 for the 1st quarter of current

fiscal year (1QFY11).

NICL is currently 17.4 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 indi-

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

Trend forecasting oscillators are currently bullish on NICL.

RSI (14-day) 56.34 Total Assets (Rs in mn) 1,694.64

MA (10-day) 2.00 Total Equity (Rs in mn) 118.91

MA (100-day) 1.52 Revenue (Rs in mn) 1,742.80

MA (200-day) 1.71 Interest Expense 51.71

1st Support 1.87 Profit after Taxation 4.57

2nd Support 1.77 EPS 09 (Rs) 0.021

1st Resistance 2.15 Book value / share (Rs) 0.54

2nd Resistance 2.33 PE 10 E (x) -

Pivot 2.05 PBV (x) 3.78

Nimir Industrial Chemicals Ltd.

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

AMTEX closed up 0.14 at 4.19. Volume was 81 per cent below aver-

age (consolidating) and Bollinger Bands were 88 per cent narrower

than normal. The company's profit after taxation stood at Rs27.628

million which translates into an Earning Per Share of Rs0.11 for the

1st quarter of current fiscal year (1QFY11).

AMTEX is currently 63.6 per cent below its 200-day moving average

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

compared to the average volatility over the last 10 trading sessions.

Volume indicators reflect volume flowing into and out of AMTEX at

a relatively equal pace. Trend forecasting oscillators are currently

bullish on AMTEX.

RSI (14-day) 38.95 Total Assets (Rs in mn) 19,120.15

MA (10-day) 4.17 Total Equity (Rs in mn) 6,423.46

MA (100-day) 10.67 Revenue (Rs in mn) 11,066.13

MA (200-day) 11.53 Interest Expense 1,457.79

1st Support 4.16 Profit after Taxation 730.51

2nd Support 4.06 EPS 09 (Rs) 3.025

1st Resistance 4.35 Book value / share (Rs) 26.60

2nd Resistance 4.44 PE 10 E (x) 9.52

Pivot 4.25 PBV (x) 0.16

Amtex Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,549.11 1,637.57 1,503.52 1,628.77 79.66 5.14

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

62,304,793 - - 65,194.15 mn 1,264,790.77 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

11.76 3.83 32.54 55.94 4.76 -

Attock Petroleum 691 5.95 334.52 346.99 325.01 343.60 9.08 1508352 374.20 287.99 300 20B - -

Attock Refinery 853 7.32 124.68 131.88 118.45 130.63 5.95 17975135 137.20 82.10 - - - -

Mari Gas Company 735 18.17 124.97 134.75 117.00 134.13 9.16 1387017 134.75 109.00 31 - - -

National Refinery 800 4.31 273.79 297.00 267.00 290.92 17.13 1454687 297.00 203.00 200 - - -

Oil & Gas Development XD 43009 12.22 170.83 181.45 165.12 180.66 9.83 3389778 181.45 146.60 55 - 15.00 -

Pak Petroleum 11950 9.18 217.15 228.88 212.01 225.73 8.58 10824767 228.88 178.06 90 20B - -

Pak Oilfields 2365 7.60 295.96 322.78 288.26 321.71 25.75 17733912 322.78 231.01 255 - - -

Pak Refinery Limited 350 - 107.72 108.20 102.52 106.31 -1.41 159800 114.50 61.76 - - - -

P.S.O 1715 5.02 295.18 300.53 289.00 296.56 1.38 7598429 300.53 262.00 80 - - -

Shell Gas LPG 226 - 33.83 34.89 32.31 33.29 -0.54 40262 40.28 29.10 - - - -

Shell Pakistan 685 10.61 208.22 208.74 200.00 206.90 -1.32 232654 209.89 182.05 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

1,011.79 1,023.19 990.10 1,013.09 1.30 0.13

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

66,496,467 - - 47,070.70 mn 137,340.29 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

7.05 0.61 8.64 16.68 2.37 -

(Colony) Thal 56 - 1.21 1.28 0.89 1.27 0.06 15001 1.99 0.52 - - - -Amtex Limited 2594 9.52 4.05 4.64 4.01 4.19 0.14 2269380 12.45 4.00 30 - - -Artistic Denim 840 6.36 23.50 24.18 22.35 22.90 -0.60 22425 24.59 19.10 20 - - -Azam Textile 133 0.39 2.64 2.90 2.20 2.81 0.17 30523 3.45 1.32 7.5 - - -Azgard Nine 4493 - 9.66 9.80 9.20 9.60 -0.06 24697929 12.32 9.20 - - - -Babri Cotton 33 0.42 11.53 12.50 9.50 10.38 -1.15 106203 17.85 8.10 - 15B - -Bannu Woolen XD 76 0.47 13.40 13.50 12.90 13.50 0.10 8358 14.50 10.82 20 - - -Brothers Textile 98 - 0.69 1.31 0.31 0.40 -0.29 100874 1.49 0.15 - - - -Chenab Limited 1150 - 3.12 3.20 3.00 3.08 -0.04 376487 3.90 3.00 - - - -Crescent Fibres Ltd 124 0.63 13.11 14.60 13.00 13.61 0.50 11540 14.60 8.41 10 - - -Crescent Jute 238 - 0.78 1.12 0.32 1.00 0.22 38803 1.38 0.16 - - - -D S Ind Ltd 600 - 1.83 1.89 1.62 1.75 -0.08 493223 2.37 1.47 - - - -Dar-es-Salaam 80 - 3.50 3.50 2.50 2.75 -0.75 5002 4.50 1.75 - - - -Dawood Lawrencepur 514 50.88 43.47 45.00 41.30 43.25 -0.22 138525 47.00 36.10 5 - - -Dewan Khalid Textile 57 0.18 3.20 3.10 2.25 2.28 -0.92 11007 3.75 0.26 - - - -Dewan Mushtaq Textile 34 0.15 5.90 5.79 4.38 5.00 -0.90 5346 7.44 1.80 - - - -Gadoon Textile XD 234 0.74 66.04 68.25 65.00 68.20 2.16 11893 71.40 38.30 70 - - -Gul Ahmed Textile 635 4.32 29.24 31.50 27.61 30.10 0.86 5422 31.50 20.99 12.5 - - -Gulshan Spinning 222 0.93 7.00 7.80 6.90 7.64 0.64 5969 10.30 6.30 10 20B - -Hajra Textile 138 - 0.94 1.10 0.45 0.59 -0.35 14004 1.10 0.30 - - - -Hira Textile Mills Ltd. 716 0.75 3.90 4.05 3.76 4.00 0.10 85548 4.88 3.35 10 - - -Ibrahim Fibres 3105 3.61 42.14 46.50 40.04 45.96 3.82 1293852 46.50 34.05 20 - - -Ideal Spinning 99 0.66 5.50 7.75 5.00 7.74 2.24 46230 7.75 2.85 - - - -Idrees Textile 180 3.97 3.55 3.70 3.40 3.65 0.10 14403 4.50 2.60 10 - - -J K Spinning 184 0.92 6.20 7.00 5.25 6.02 -0.18 20081 9.50 4.05 20 5B - -Jubilee Spinning 325 - 2.57 3.49 2.49 3.49 0.92 8072 5.50 2.47 - - - -Khalid Siraj 107 - 0.79 1.25 0.65 0.96 0.17 113975 1.25 0.28 - - - -Kohat Textile 208 0.53 1.40 1.40 1.00 1.00 -0.40 16199 1.50 0.51 - - - -Kohinoor Ind 303 - 1.59 1.98 1.10 1.67 0.08 66237 2.00 1.10 - - - -Kohinoor Spinning 1300 0.47 1.19 1.58 0.30 1.30 0.11 6249 2.00 0.16 5 - - -Kohinoor Textile 1455 4.11 5.02 5.95 4.82 5.75 0.73 695168 5.97 4.82 - - - -Mian Textile 221 - 0.60 0.60 0.50 0.50 -0.10 14570 0.75 0.14 - - - -Mohd Farooq 189 - 1.38 1.60 0.99 1.25 -0.13 27696 2.08 0.50 - - - -Moonlite (PAK) 22 - 5.50 10.39 4.50 10.16 4.66 14239 11.99 4.50 - - - -Nagina Cotton 187 0.86 16.17 16.85 15.70 16.75 0.58 14228 17.50 12.80 20SD - - -Nishat (Chunian) 1596 1.96 22.72 24.14 21.95 23.65 0.93 9855718 25.14 17.82 15 - - -Nishat Mills 3516 5.85 64.17 68.80 62.00 68.14 3.97 22509296 68.80 48.75 25 45R - -Pak Synthetic 560 3.47 9.10 10.50 8.90 10.26 1.16 460469 10.50 5.16 - - - -Paramount Spinning 174 0.73 10.40 10.25 10.00 10.00 -0.40 6046 11.25 7.65 10 10B - -Premium Textile 62 0.45 28.30 30.00 28.10 28.21 -0.09 11113 31.03 25.00 50 - - -Prosperity 185 1.17 14.74 15.30 14.00 15.30 0.56 8476 19.25 12.51 30 - - -Ravi Textile 250 - 1.51 1.65 1.26 1.53 0.02 459776 1.99 1.26 - - - -Redco Textile 213 - 0.89 0.99 0.55 0.99 0.10 8500 1.45 0.55 - - - -Rupali Poly 341 4.73 36.00 38.00 35.25 37.65 1.65 12431 38.10 31.25 40 - - -Saif Textile 264 0.36 4.50 4.54 3.90 4.50 0.00 116944 6.85 3.10 - - - -Salman Noman 42 2.54 5.00 6.00 4.50 6.00 1.00 21114 6.00 2.01 - 5B - -Samin Textile 134 4.99 6.10 6.49 5.41 5.99 -0.11 19959 8.00 5.11 - 100R - -Sapphire Textile 201 0.93 101.01 109.00 95.96 109.00 7.99 14554 109.00 89.80 50 - - -Sargodha Spinning 312 0.52 2.69 2.90 2.25 2.66 -0.03 13456 3.43 1.50 5 - - -Saritow Spinning 133 0.33 2.00 2.30 1.80 2.00 0.00 6007 2.99 1.10 - - - -Service Ind 120 8.00 240.04 243.99 228.04 233.54 -6.50 25331 276.50 169.00 - - - -Shadab Textile 30 0.38 13.40 13.68 12.20 13.60 0.20 10100 15.09 7.56 10 - - -Shadman Cot 176 1.82 7.71 10.05 7.05 10.00 2.29 11108 15.00 7.00 - - - -Shams Textile 86 0.78 25.00 23.75 22.60 23.73 -1.27 5573 25.00 16.00 20 - - -Suraj Cotton 180 0.85 35.27 39.69 35.25 38.09 2.82 74102 39.69 29.00 50 - - -Thal Limited 307 5.46 130.25 132.00 124.60 127.76 -2.49 1072781 132.00 86.50 80 20B - -Treet Corp 418 9.65 60.05 61.74 57.26 60.63 0.58 837958 63.30 37.50 - - - -ZahidJee Textile 341 0.51 3.50 4.00 3.49 3.80 0.30 11500 4.87 2.00 - - - -Zephyr Textile Ltd 594 5.07 3.92 4.00 3.80 3.85 -0.07 38615 4.90 2.35 - - - -

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

1,126.81 1,168.85 1,120.86 1,160.62 33.80 3.00

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

2,345,472 - - 3,763.71 mn 5,277.76 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

2.65 0.28 10.64 6.27 2.36 -

Gauhar Engineering Ltd 22 - 0.86 1.65 0.65 1.10 0.24 102000 1.65 0.20 - - - -

Hussain Industries 106 - 7.40 7.90 6.32 7.00 -0.40 34510 11.49 6.10 - - - -

Pak Elektron 1174 3.85 14.04 15.49 13.90 15.29 1.25 2009526 15.49 12.90 - 10B - -

Tariq Glass Ind 231 2.43 20.52 21.25 20.00 20.35 -0.17 195497 21.40 15.90 17.5 - - -

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,703.51 1,732.63 1,632.72 1,688.39 -15.13 -0.89

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

2,470,881 - - 11,335.33 mn 228,732.36 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

37.94 11.50 30.30 30.57 0.81 -

Adam Sugar 58 1.21 18.20 20.50 18.80 19.44 1.24 35143 20.50 11.23 25 - - -

AL-Noor Sugar 186 3.68 50.57 52.50 49.00 50.46 -0.11 15868 53.02 41.00 50 - - -

Bawany Sugar 87 - 5.00 5.99 4.20 5.00 0.00 15327 6.73 0.86 - - - -

Chashma Sugar 287 1.12 12.41 13.00 11.08 11.08 -1.33 101737 15.47 8.50 10 - - -

Crescent Sugar 214 - 6.75 6.90 5.50 5.50 -1.25 6510 6.90 5.00 - - - -

Dewan Sugar 365 - 3.60 4.10 3.40 4.02 0.42 572322 5.59 1.25 - - - -

Faran Sugar 217 4.06 20.84 21.19 19.50 20.24 -0.60 8666 21.73 18.55 25 - - -

Habib Sugar 600 7.46 33.31 33.55 32.30 33.21 -0.10 451205 36.50 29.00 25 25B - -

Habib-ADM Ltd 200 11.20 12.69 12.48 11.69 12.10 -0.59 32859 13.50 11.69 40 - - -

J D WSugar 490 3.12 88.71 92.50 86.00 88.00 -0.71 83332 92.50 66.00 7010B 12.5R - -

Mehran SugarSPOT 143 3.47 57.52 60.00 56.50 58.73 1.21 33962 68.49 50.50 35 20B - -

Mirza Sugar 141 0.61 6.09 6.70 5.83 6.00 -0.09 95986 7.18 4.20 10 - - -

Mithchells Fruit 50 9.34 74.26 86.10 75.50 86.10 11.84 105283 86.10 61.50 40 - - -

National Foods 414 22.52 69.41 67.00 59.00 60.36 -9.05 35843 75.50 39.01 12 - - -

Noon Sugar 165 - 11.98 12.28 9.03 9.20 -2.78 47712 14.84 9.03 - - - -

Pangrio Sugar 109 0.90 6.10 6.75 6.01 6.16 0.06 22453 6.99 4.25 10 - - -

Premier Sugar 38 4.53 46.98 48.70 43.15 46.49 -0.49 9827 53.81 32.50 10 - - -

Quice Food 107 - 2.20 3.20 2.12 2.53 0.33 486500 3.40 2.02 - - - -

S S Oil 57 0.28 3.50 3.30 3.20 3.21 -0.29 15000 3.89 3.00 - - - -

Sakrand Sugar 223 - 3.00 3.26 2.25 3.09 0.09 30500 3.90 2.11 - - - -

Sanghar Sugar 119 1.28 14.40 15.00 13.50 14.44 0.04 127835 15.00 13.00 15 - - -

Shahmurad Sugar 211 6.60 10.96 10.60 9.85 10.10 -0.86 79110 13.50 9.85 10 - - -

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

1,194.87 1,256.77 1,167.27 1,227.71 32.83 2.75

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

3,500,901 - - 6,768.53 mn 44,882.56 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

4.38 1.11 25.35 20.42 4.66 -

Agriautos Ind 144 5.80 76.20 77.50 72.00 76.50 0.30 28054 77.50 65.75 90 - - -

Atlas Battery 101 5.84 190.47 197.00 185.00 195.42 4.95 60298 197.00 137.00 100 20B - -

Atlas Honda 626 9.69 124.98 143.80 118.74 133.73 8.75 20082 143.80 94.00 - - - -

Dewan Motors 890 - 2.28 2.54 2.06 2.32 0.04 1884643 2.89 1.20 - - - -

Exide (PAK) 56 4.94 196.25 212.00 186.44 209.00 12.75 110611 212.00 139.74 60 - - -

General Tyre 598 21.28 22.60 25.27 21.54 24.69 2.09 401964 25.27 21.00 20 - - -

Ghandhara Nissan 450 3.40 4.92 5.30 4.76 4.90 -0.02 201323 5.67 4.03 - - - -

Ghani Automobile Ind 200 6.56 4.10 4.79 4.01 4.20 0.10 12656 5.75 4.00 - - - -

Honda Atlas Cars 1428 - 11.60 11.70 11.21 11.39 -0.21 212588 13.40 10.20 - - - -

Indus Motors 786 5.92 252.47 266.00 249.00 259.30 6.83 114758 282.45 220.00 150 - - -

Pak Suzuki 823 11.46 69.82 74.80 68.01 72.00 2.18 441965 77.90 66.75 - - - -

Sazgar Engineering 150 3.82 20.90 20.88 19.90 20.50 -0.40 5356 26.00 17.92 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

1,547.84 1,572.54 1,516.76 1,556.93 9.08 0.59

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

883,544 - - 1,336.62 mn 33,806.12 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

8.50 3.23 38.02 131.49 15.46 -

Ados Pak 66 1.05 17.00 16.70 16.32 16.37 -0.63 5009 19.85 14.12 - - - -

AL-Ghazi Tractor 215 5.66 227.00 239.89 224.00 236.22 9.22 88180 239.89 200.00 150 - - -

Dewan Auto Engineering 214 - 1.31 1.88 1.00 1.55 0.24 188725 2.40 0.21 - - - -

Ghandhara Ind 213 11.44 11.70 12.75 11.15 12.35 0.65 190175 14.80 10.55 - - - -

Hinopak Motor 124 - 131.90 134.00 126.00 126.02 -5.88 7169 147.89 113.00 - - - -

KSB Pumps 132 7.19 60.11 62.90 58.81 60.07 -0.04 21518 80.00 58.81 - - - -

Millat Tractors XB 366 6.84 499.78 526.00 490.00 522.88 23.10 696930 526.00 437.31 650 25B - -

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

1,038.51 1,059.57 1,000.73 1,048.29 9.78 0.94

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

3,062,331 - - 3,043.31 mn 39,485.69 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

2.92 1.28 43.91 15.55 5.33 -

Cherat Papersack 115 2.72 77.41 78.25 73.54 76.35 -1.06 338259 83.23 34.00 20 25B - -

ECOPACK Ltd 230 - 2.57 2.99 2.37 2.70 0.13 729029 3.30 1.82 - - - -

Ghani Glass 1067 4.55 49.30 49.90 48.71 49.46 0.16 21759 61.10 45.30 25 10B - -

MACPAC Films 389 - 3.02 3.88 2.52 3.42 0.40 73321 4.05 1.60 - - - -

Packages Ltd 844 67.97 128.61 134.90 123.10 132.55 3.94 1638385 136.74 100.11 - - - -

Siemens Engineering XD 82 10.19 1253.51 1238.90 1195.00 1234.90-18.61 86263 1381.00 1120.00 900 - - -

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

1,010.11 1,028.67 974.79 1,003.61 -6.50 -0.64

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

54,742,532 - - 54,792.74 mn 71,779.91 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

8.01 0.57 7.10 19.04 2.38 -

Al-Abbas Cement 1828 - 3.47 3.46 3.10 3.37 -0.10 43643 3.98 2.80 - 100R - -

Attock Cement 866 6.61 63.11 62.98 61.01 62.81 -0.30 46402 65.99 57.60 50 - - -

Balochistan Glass Ltd 858 - 3.06 3.19 2.50 2.80 -0.26 23969 4.24 1.10 - - - -

Berger Paints 182 - 23.01 22.89 21.21 22.40 -0.61 169977 24.16 14.12 - 122R - -

Buxly Paints 14 - 14.50 14.95 12.75 13.80 -0.70 11395 15.50 7.91 - - - -

Cherat Cement 956 24.66 10.75 11.20 10.25 10.85 0.10 57743 12.75 10.00 - - - -

Dadabhoy Cement 982 14.38 1.71 1.94 1.70 1.87 0.16 25761 2.49 1.31 - - - -

Dandot Cement 948 - 2.45 3.39 2.12 3.39 0.94 19785 3.49 1.11 - - - -

Dewan Cement 3891 - 2.24 2.40 2.01 2.21 -0.03 1127983 3.10 1.40 - - - -

DG Khan Cement Ltd 3651 127.00 30.17 31.00 28.75 30.48 0.31 32440823 32.10 24.80 - 20R - -

Fauji Cement 6933 15.18 5.02 5.13 4.91 5.01 -0.01 2026380 5.55 4.70 - - - -

Fecto Cement 502 3.70 7.25 7.30 7.00 7.10 -0.15 20600 8.20 4.25 - - - -

Flying Cement Ltd 1760 - 1.80 1.90 1.60 1.75 -0.05 643429 2.25 1.60 - - - -

Frontier Ceramics 77 - 2.41 3.00 1.71 1.90 -0.51 58651 5.00 1.18 - - - -

Gharibwal Cement 2319 - 8.33 8.29 7.10 7.70 -0.63 27235 9.19 2.70 - - - -

Haydery Const 32 - 0.70 0.88 0.60 0.70 0.00 25831 1.08 0.42 - - - -

Kohat Cement 1288 - 6.46 6.75 6.10 6.60 0.14 50703 8.70 5.80 - - - -

Lucky Cement 3234 6.75 75.79 76.25 73.00 75.13 -0.66 8405748 79.98 69.20 40 - - -

Maple Leaf Cement 5261 1.32 2.87 2.99 2.75 2.84 -0.03 1354441 3.30 2.66 - - - -

Maple Leaf(Pref) 541 3.60 4.22 5.89 4.22 4.90 0.68 38303 8.89 3.21 - - - -

Pioneer Cement 2228 - 6.77 7.09 6.55 7.01 0.24 584221 8.58 6.52 - - - -

Safe Mix Concrete 200 - 7.30 7.33 6.40 7.00 -0.30 40670 7.50 5.25 - - - -

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

1,094.17 1,109.40 1,049.15 1,085.38 -8.79 -0.80

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

714,961 - - 3,596.11 mn 10,605.93 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

3.46 1.15 33.10 30.91 8.93 -

Crescent Steel 565 4.25 27.51 27.50 26.30 27.20 -0.31 99146 28.45 24.00 30 - - -

Dost Steels Ltd 675 - 2.70 2.87 2.55 2.64 -0.06 131223 3.39 2.00 - - - -

Huffaz Pipe 555 9.75 15.61 15.80 15.00 15.60 -0.01 103315 16.05 12.50 - - - -

International Ind 1199 12.16 59.85 59.40 57.15 58.39 -1.46 356100 62.20 44.00 40 20B - -

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

1,183.40 1,284.01 1,145.93 1,226.02 42.62 3.60

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

1,518,110 - - 1,186.83 mn 3,397.39 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

6.32 0.47 7.47 25.28 4.00 -

Century Paper 707 - 16.85 19.47 16.32 18.69 1.84 1392521 19.49 15.28 - - - -

Pak Paper Product 50 8.66 47.13 48.45 43.76 45.01 -2.12 14848 48.90 38.61 2533.33B - -

Security Paper 411 6.91 44.86 47.19 43.50 44.80 -0.06 110741 47.70 38.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,399.04 1,479.11 1,362.72 1,464.06 65.02 4.65

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

219,106,647 - - 52,251.88 mn 330,403.07 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

8.97 3.14 35.00 48.81 5.44 -

Agritech Limited 3924 8.41 23.90 24.59 22.52 23.20 -0.70 58225 24.85 20.26 - - - -

Bawany Air 68 69.50 8.12 9.49 7.16 8.34 0.22 6504 12.75 7.16 5 10R - -

BOC (Pak) 250 13.90 91.10 103.94 89.10 101.16 10.06 146476 103.94 72.05 15 - - -

Clariant Pak 273 7.15 183.00 190.90 175.00 187.07 4.07 654625 190.90 149.72 - - - -

Dawood Hercules 1203 8.26 198.36 203.50 191.19 199.25 0.89 1015530 203.50 165.73 40 - - -

Dewan Salman 3663 - 2.99 3.45 2.62 3.28 0.29 16809380 4.24 1.32 - - - -

Engro Corporation Ltd 3277 11.07 193.81 203.20 190.00 201.55 7.74 15909129 203.20 174.00 40 - - -

Fatima Fertilizer 22000 - 11.28 11.30 10.56 11.21 -0.07 7342330 11.39 9.16 - - - -

Fauji Fertilizer 6785 9.57 125.86 133.50 122.60 132.10 6.24 14609062 133.50 106.01 95 - - -

Fauji Fert.Bin Qasim 9341 7.25 35.73 38.89 34.75 38.44 2.71 51100179 38.89 28.15 17.5 - - -

ICI Pakistan 1388 8.47 144.24 152.49 140.50 150.38 6.14 3178199 152.49 119.50 55 - - -

Lotte Pakistan 15142 5.26 13.70 14.99 13.24 14.73 1.03 106087375 14.99 8.71 - - - -

Mandviwala 74 - 1.89 1.90 1.01 1.77 -0.12 9404 2.75 0.80 - - - -

Nimir Ind Chemical 1106 - 2.00 2.23 1.89 2.03 0.03 2500577 2.74 1.30 - - - -

Shaffi Chemical 120 - 2.71 2.69 2.03 2.40 -0.31 10562 3.40 1.80 - - - -

Sitara Chem Ind 214 10.20 127.75 130.50 120.06 124.47 -3.28 10468 139.40 101.00 25 5B - -

Sitara Peroxide 551 14.29 13.25 13.50 12.70 13.15 -0.10 1182562 14.69 8.17 - - - -

Wah-Noble 90 7.02 36.13 37.69 35.70 36.48 0.35 11905 43.75 32.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

997.07 1,003.59 968.09 989.01 -8.05 -0.81

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

382,709 - - 3,904.20 mn 33,197.07 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

7.44 1.66 22.31 44.54 5.99 -

Abbott (Lab) 979 9.51 109.74 109.85 106.80 108.50 -1.24 38217 112.50 89.88 20 - - -

Ferozsons (Lab) 250 6.68 87.13 89.00 85.00 88.49 1.36 9430 113.00 82.20 - 20B - -

GlaxoSmithKline 1707 15.36 88.19 88.00 84.50 85.38 -2.81 151871 89.98 68.00 - - - -

Highnoon (Lab) 165 8.27 28.94 30.35 28.00 29.86 0.92 64744 30.35 23.50 - - - -

Otsuka Pak 100 7.59 32.81 34.40 32.25 34.00 1.19 26215 35.15 27.50 - - 15 -

Searle Pak 306 5.62 60.01 63.09 59.00 62.51 2.50 71008 64.50 59.00 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

752.39 768.83 706.26 719.22 -33.17 -4.41

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

318,168 - - 3,242.17 mn 12,693.65 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

5.60 1.43 25.53 11.08 1.98 -

Pak Int Cont.Terminal 1092 6.90 72.75 75.15 68.00 69.02 -3.73 296647 77.77 60.05 40 - - -

PNSC 1321 40.38 37.95 38.40 36.00 37.15 -0.80 21521 40.42 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

BOC Pakistan 11-Jan 17-Jan - - 17-Jan

Buxly Paints # 11-Jan 19-Jan - - 19-Jan

TRG Pakistan 12-Jan 20-Jan - - 20-Jan

Shadman Cotton Mills # 12-Jan 18-Jan - - 18-Jan

Kohinoor Mills # 13-Jan 20-Jan - - 20-Jan

Mybank Ltd. # 13-Jan 19-Jan - - 20-Jan

Summit Bank # 13-Jan 19-Jan - - 20-Jan

Ellcot Spin Mills # 14-Jan 20-Jan - - 20-Jan

Prosperity Weaving Mills # 14-Jan 20-Jan - - 20-Jan

Mehran Sugar Mills 14-Jan 21-Jan - - 21-Jan

Dawood Lawrencepur # 15-Jan 21-Jan - - 21-Jan

Habib Sugar Mills 15-Jan 29-Jan 25.25(B) 7-Jan 29-Jan

Lakson Tobacco # 18-Jan 25-Jan - - 25-Jan

Haseeb Waqas Sugar Mills 18-Jan 25-Jan 10-Jan 10-Jan 25-Jan

Nagina Cotton Mills # 19-Jan 25-Jan - - 25-Jan

Sanghar Sugar Mills 19-Jan 31-Jan 15-Jan 11-Jan 31-Jan

Sindh Abadgar's Sugar Mills 19-Jan 28-Jan 10-Jan - 28-Jan

Shahtaj Sugar Mills 20-Jan 1-Feb - - 27-Jan

Shahmurad Sugar Mills 22-Jan 2-Feb 10-Jan 14-Jan 28-Jan

Fecto Sugar Mills 22-Jan 29-Jan - - 29-Jan

Al-Noor Sugar Mills 22-Jan 2-Feb 19-Feb - 28-Jan

Pangrio Sugar Mills 22-Jan 31-Jan 10-Jan 14-Jan 31-Jan

Thal Ind Corp 22-Jan 28-Jan 15-Jan - 28-Jan

Mirza Sugar Mills 22-Jan 31-Jan 10-Jan 14-Jan 31-Jan

Adam Sugar Mills 23-Jan 31-Jan 25-Jan - 29-Jan

INDICATIONS

# Extraordinary General Meeting

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

Monday, January 10, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 366.58 points at 12,389.04. Volume was 63 per

cent above average and Bollinger Bands were 14 per cent wider than nor-

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

resistance level at 12,454.75 and 2nd resistance level at 12,520.45, while

Index will continue to find its 1st support level at 12,298.75 and 2nd sup-

port level at 12,208.45.

KSE 100 INDEX is currently 19.5 per cent above its 200-day moving average

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

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

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

oscillators are currently bullish on INDEX. Momentum oscillator is currently

indicating that INDEX is currently in an overbought condition.

RSI (14-day) 78.22 Support 1 12,298.75

MA (5-day) 12,162.61 Support 2 12,208.45

MA (10-day) 12,051.08 Resistance 1 12,454.75

MA (100-day) 10,660.47 Resistance 2 12,520.45

MA (200-day) 10,374.07 Pivot 12,364.45

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 2.71 at 38.44. Volume was 600 per cent above average

(trending) and Bollinger Bands were 3 per cent wider than normal.

FFBL is currently 27.4 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on FFBL.

*Arif Habib Ltd 34.7 Sell

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Negative

RSI (14-day) 68.17 Free Float Shares (mn) 326.94

MA (10-day) 36.75 Free Float Rs (mn) 12,567.52

MA (100-day) 31.25 CFS Shares (mn) N/A

MA (200-day) 30.21 CFS Rs (mn) N/A

Mean 36.92 CFS Rate N/A

Median 36.82 ** NOI Rs (mn) 81.86

* 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 up 0.31 at 30.48. Volume was 102 per cent above average

and Bollinger Bands were 47 per cent narrower than normal.

DGKC is currently 13.2 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 DGKC at a relatively equal pace.

Trend forecasting oscillators are currently bearish on DGKC.

*Arif Habib Ltd 42 Buy

AKD Securities Ltd 43.29 Buy

TFD Research 36.85 Positive

RSI (14-day) 55.31 Free Float Shares (mn) 182.55

MA (10-day) 30.01 Free Float Rs (mn) 5,564.11

MA (100-day) 27.18 CFS Shares (mn) N/A

MA (200-day) 26.93 CFS Rs (mn) N/A

Mean 30.00 CFS Rate N/A

Median 29.88 ** NOI Rs (mn) 37.86

* 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 0.83 at 77.65. Volume was 41 per cent above average and

Bollinger Bands were 41 per cent wider than normal.

NBP is currently 14.5 per cent above its 200-day moving average and is

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

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

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

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

ly indicating that NBP is currently in an overbought condition.

*Arif Habib Ltd 82.1 Buy

AKD Securities Ltd 61.96 Neutral

TFD Research 92.3 Positive

RSI (14-day) 71.22 Free Float Shares (mn) 318.44

MA (10-day) 75.40 Free Float Rs (mn) 24,727.19

MA (100-day) 66.79 CFS Shares (mn) N/A

MA (200-day) 67.81 CFS Rs (mn) N/A

Mean 76.46 CFS Rate N/A

Median 75.79 ** NOI Rs (mn) 92.77

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 3.97 at 68.14. Volume was 31 per cent above average and

Bollinger Bands were 34 per cent wider than normal.

NML is currently 32.2 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on NML. Momentum oscillator is cur-

rently indicating that NML is currently in an overbought condition.

AKD Securities Ltd 59.97 Buy

TFD Research 74.2 Neutral

RSI (14-day) 71.53 Free Float Shares (mn) 175.80

MA (10-day) 64.68 Free Float Rs (mn) 11,979.01

MA (100-day) 52.51 CFS Shares (mn) N/A

MA (200-day) 51.55 CFS Rs (mn) N/A

Mean 66.07 CFS Rate N/A

Median 65.40 ** NOI Rs (mn) 83.23

* 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 25.75 at 321.71. Volume was 176 per cent above average

(trending) and Bollinger Bands were 38 per cent wider than normal.

POL is currently 33.5 per cent above its 200-day moving average and is

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

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

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

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

ly indicating that POL is currently in an overbought condition.

*Arif Habib Ltd 317.2 Hold

AKD Securities Ltd 296.6 Buy

TFD Research 281.35 Negative

RSI (14-day) 78.67 Free Float Shares (mn) 107.94

MA (10-day) 301.62 Free Float Rs (mn) 34,726.06

MA (100-day) 251.87 CFS Shares (mn) N/A

MA (200-day) 240.99 CFS Rs (mn) N/A

Mean 309.90 CFS Rate N/A

Median 305.52 ** NOI Rs (mn) 298.04

* 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 7.74 at 201.55. Volume was 253 per cent above aver-

age (trending) and Bollinger Bands were 31 per cent wider than normal.

ENGRO is currently 8.7 per cent above its 200-day moving average and is

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

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

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

casting oscillators are currently bullish on ENGRO.

*Arif Habib Ltd 176 Sell

AKD Securities Ltd 238.8 Buy

TFD Research 208.75 Neutral

RSI (14-day) 64.10 Free Float Shares (mn) 147.48

MA (10-day) 194.80 Free Float Rs (mn) 29,724.91

MA (100-day) 180.49 CFS Shares (mn) N/A

MA (200-day) 185.36 CFS Rs (mn) N/A

Mean 196.11 CFS Rate N/A

Median 196.60 ** NOI Rs (mn) 135.75

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed up 6.24 at 132.10. Volume was 264 per cent above average

(trending) and Bollinger Bands were 197 per cent wider than normal.

FFC is currently 19.9 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on FFC. Momentum oscillator is currently

indicating that FFC is currently in an overbought condition.

*Arif Habib Ltd 127.8 Hold

AKD Securities Ltd 122.1 Accumulate

TFD Research 114.33 Negative

RSI (14-day) 76.21 Free Float Shares (mn) 373.19

MA (10-day) 127.25 Free Float Rs (mn) 49,298.38

MA (100-day) 110.70 CFS Shares (mn) N/A

MA (200-day) 110.08 CFS Rs (mn) N/A

Mean 129.09 CFS Rate N/A

Median 128.05 ** NOI Rs (mn) 282.23

* 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

1,350.17 1,369.52 1,306.81 1,359.09 8.92 0.66

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

15,138,564 - - 29,771.58 mn 18,209.55 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

18.48 0.41 2.21 104.74 8.81 -

AL-Meezan Mutual F. 1375 7.54 8.31 9.08 8.06 9.05 0.74 690556 9.08 5.85 18.5 - - -

Atlas Fund of Funds 525 1.85 4.58 4.80 4.49 4.60 0.02 607223 4.80 2.70 2.2 - - -

B R R Guardian Mod. 780 3.68 1.81 1.90 1.60 1.62 -0.19 60417 2.79 0.90 0 - - -

Constellation Modaraba 65 2.89 1.25 1.88 1.00 1.27 0.02 33888 1.99 0.90 - - - -

Crescent St Modaraba 200 1.43 0.57 0.64 0.56 0.57 0.00 87550 1.10 0.16 1.2 - - -

Elite Cap Modaraba 113 4.00 2.76 3.49 2.75 3.20 0.44 13609 3.49 1.73 5 - - -

Equity Modaraba 524 12.50 1.50 2.14 1.30 2.00 0.50 879110 2.37 1.03 - - - -

First Dawood Mutual F. 581 0.63 2.00 2.16 1.61 2.00 0.00 602005 2.28 1.30 - - - -

Golden Arrow 760 2.21 3.16 3.23 3.01 3.10 -0.06 509889 3.80 2.56 17 - - -

Habib Modaraba 1008 5.74 6.70 7.00 6.65 6.66 -0.04 54801 7.00 5.80 21 - - -

I B L Modaraba 202 25.91 1.79 2.96 1.50 2.85 1.06 31664 3.69 1.06 3 - - -

JS Growth Fund 3180 71.50 5.55 5.89 5.22 5.72 0.17 4749645 5.89 2.65 5 - - -

JS Value Fund 1186 18.29 4.77 5.24 4.47 5.12 0.35 3801187 5.24 2.31 10 - - -

KASB Modaraba 283 1.18 1.65 1.79 1.31 1.61 -0.04 9623 2.23 1.26 2.8 - - -

Meezan Balanced Fund 1200 7.50 7.50 7.98 7.40 7.80 0.30 156522 8.25 5.15 15.5 - - -

NAMCO Balanced Fund 1000 6.02 4.13 3.88 3.12 3.85 -0.28 42259 4.24 2.40 15 - - -

Nat Bank Modaraba 250 5.65 6.58 7.58 6.02 6.10 -0.48 203600 7.74 4.50 10 - - -

Paramount Modaraba 59 6.88 8.80 9.10 8.50 8.80 0.00 27712 9.45 7.57 18 - - -

PICIC Energy Fund 1000 2.01 6.56 6.99 6.21 6.91 0.35 263260 7.18 4.83 10 - - -

PICIC Growth Fund 2835 8.50 13.25 13.30 12.70 13.26 0.01 1219390 13.40 7.90 20 - - -

PICIC Inv Fund 2841 7.45 6.41 6.65 5.90 6.56 0.15 818791 6.74 3.50 10 - - -

Prud Modaraba 1st 872 2.45 1.10 1.10 1.00 1.08 -0.02 240830 1.19 0.81 3 - - -

Stand Chart Modaraba 454 4.71 9.31 10.29 9.20 9.60 0.29 10829 10.29 7.81 17 - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

406.57 412.72 390.73 405.17 -1.40 -0.34

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

21,601,386 - - 30,336.44 mn 18,944.24 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

11.43 0.27 0.91 99.56 3.38 -

AMZ Ventures 225 1.55 0.65 0.80 0.33 0.68 0.03 219619 0.95 0.33 - - - -

Arif Habib Limited 450 13.30 26.01 26.65 24.76 26.06 0.05 347222 28.95 24.40 - 20B - -

Dawood Cap Mangt. XB 150 1.72 1.94 1.95 1.50 1.93 -0.01 6504 2.14 1.05 - - - -

Dawood Equities 250 - 1.80 2.00 1.28 1.75 -0.05 40342 2.69 1.28 - - - -

Grays Leasing 215 - 2.11 2.95 1.15 2.02 -0.09 15498 2.95 0.18 - - - -

IGI Investment Bank 2121 18.13 2.93 3.90 2.62 2.90 -0.03 207397 3.90 1.50 - - - -

Invest and Fin Sec 600 700.00 7.19 7.26 6.86 7.00 -0.19 23805 8.88 6.16 11.5 - - -

Invest Bank 2849 - 0.78 0.85 0.62 0.62 -0.16 337489 0.97 0.52 - - - -

Ist Cap Securities 3166 - 3.56 3.50 3.00 3.13 -0.43 263028 4.80 3.00 - 10B - -

Ist Dawood Bank 626 0.67 1.89 1.98 1.65 1.88 -0.01 53421 2.40 1.05 - - - -

Jah Siddiq Co 7633 - 10.90 11.27 10.36 11.07 0.17 15761445 14.05 8.85 10 - - -

JOV and CO 508 - 4.00 4.30 3.70 4.01 0.01 1640219 5.38 2.15 - - - -

JS Global Cap 500 7.53 28.21 28.71 26.80 28.00 -0.21 13249 32.37 24.25 - - - -

JS Investment 1000 28.04 6.68 7.16 6.20 6.73 0.05 1445356 7.59 5.21 - - - -

Orix Leasing 821 4.56 6.87 6.70 6.10 6.20 -0.67 62294 7.29 4.70 - - - -

Pervez Ahmed Sec 775 - 2.14 2.23 1.91 2.08 -0.06 489354 2.70 1.46 - - - -

Saudi Pak Leasing 452 - 0.55 0.97 0.54 0.68 0.13 27273 0.97 0.46 - - - -

Trust Inv Bank 586 2.73 1.76 1.80 1.75 1.75 -0.01 39311 2.98 1.24 - - - -

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

909.37 912.00 843.09 855.49 -53.87 -5.92

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

437,834 - - 2,290.72 mn 9,971.07 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

6.10 3.70 3.85 355.53 3.70 -

EFU Life Assurance 850 42.33 75.44 74.90 72.25 74.50 -0.94 179974 86.95 60.00 - - - -

New Jub Life Insurance 627 28.19 46.09 46.50 41.60 42.00 -4.09 183624 49.31 39.95 - - - -

Paid up Last 60 days 2010 2011

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,191.64 1,208.76 1,146.39 1,192.35 0.72 0.06

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

123,502,925 - - 257,548.02 mn 723,017.91 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

8.55 1.19 13.94 40.49 4.74 -

Allied Bank Limited 7821 6.98 70.15 72.99 67.40 71.85 1.70 2789541 72.99 51.70 20 - - -

Askari Bank 6427 8.43 17.69 17.94 16.80 17.70 0.01 2660408 18.10 14.50 - - - -

Bank Alfalah 13492 14.26 11.21 11.52 10.71 11.12 -0.09 12272826 11.52 8.70 - - - -

Bank AL-Habib 7322 8.06 36.26 37.74 35.50 37.40 1.14 1304200 37.74 31.44 - - - -

Bank Of Khyber 5004 5.61 4.30 4.40 4.00 4.21 -0.09 75917 4.70 2.57 - - - -

Bank Of Punjab 5288 - 9.81 10.21 9.35 9.93 0.12 9189159 10.59 8.04 - - - -

BankIslami Pak 52801005.00 3.63 4.16 3.40 4.02 0.39 2146774 4.16 2.77 - - - -

Faysal Bank 7309 4.92 15.59 15.85 14.75 15.24 -0.35 1687244 17.10 13.50 - 20B - -

Habib Bank Ltd 10019 7.81 121.94 126.45 116.80 124.99 3.05 3796438 126.45 95.01 - - - -

Habib Metropolitan Bank 8732 8.72 28.99 29.10 27.74 28.50 -0.49 259156 29.28 18.02 - - - -

JS Bank Ltd 8150 - 2.58 2.59 2.40 2.45 -0.13 388566 3.00 2.25 - 66R - -

KASB Bank Ltd 9509 - 2.51 2.60 2.31 2.43 -0.08 53523 2.90 2.16 - - - -

MCB Bank Ltd 7602 10.02 228.54 232.00 221.50 225.99 -2.55 6711852 232.00 193.70 55 - - -

Meezan Bank 6983 10.41 16.90 20.30 16.46 19.68 2.78 4707397 20.30 14.50 - - - -

Mybank Ltd 5304 - 2.81 2.95 2.56 2.65 -0.16 384968 3.10 1.90 - - - -

National Bank 13455 6.78 76.82 78.35 73.22 77.65 0.83 30360197 78.35 63.53 - - - -

NIB Bank 40437 - 2.95 3.30 2.79 3.17 0.22 16349799 3.30 2.59 - - - -

Samba Bank 14335 - 1.96 2.06 1.80 2.06 0.10 441379 2.65 1.51 -63.46R - -

Silkbank Ltd 26716 - 2.62 2.88 2.55 2.81 0.19 16079835 3.04 2.50 - - - -

Soneri Bank 6023 - 8.31 8.30 7.75 7.80 -0.51 337407 8.48 5.61 - - - -

Stand Chart Bank 38716 13.29 8.60 8.70 8.15 8.64 0.04 86270 9.04 6.15 - - - -

United Bank Ltd 12242 7.89 68.23 67.94 65.10 67.15 -1.08 11419967 70.65 52.00 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

782.95 795.35 750.78 785.61 2.65 0.34

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

8,546,643 - - 11,111.34 mn 48,506.59 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

12.54 0.65 5.20 79.54 6.34 -

Adamjee Insurance 1237 25.77 87.50 89.80 83.15 88.91 1.41 4477950 91.75 65.55 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,526.89 1,589.53 1,471.72 1,563.94 37.05 2.43

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

1,809,329 - - 12,202.80 mn 33,454.42 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

9.99 1.14 11.41 66.79 6.69 -

Sui North Gas 5491 8.18 26.74 27.78 25.71 27.48 0.74 733570 34.75 25.71 20 - - -

Sui South Gas 8390 3.30 21.42 22.33 20.55 21.89 0.47 1075759 30.23 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,291.97 1,346.25 1,260.61 1,326.22 34.25 2.65

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

105,985,011 - - 95,369.29 mn 108,918.82 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

14.94 1.40 9.35 104.13 6.97 -

Genertech 198 - 0.81 0.94 0.73 0.85 0.04 100392 1.45 0.60 - - - -

Hub Power 11572 6.97 37.41 38.38 36.50 38.05 0.64 6813403 38.38 32.97 50 - - -

Japan Power 1560 - 1.69 1.86 1.61 1.73 0.04 1074256 2.25 1.30 - - - -

KESC 7932 - 2.81 3.55 2.75 3.16 0.35 57628281 3.55 2.00 - 7.8R - -

Kohinoor Energy 1695 10.99 21.78 22.85 19.77 19.78 -2.00 99825 25.25 17.95 15 - - -

Kot Addu Power 8803 5.20 40.68 43.40 39.80 42.79 2.11 5628770 43.40 38.35 50 - - -

Nishat Chunian Power Ltd 3673 3.74 16.09 17.50 15.55 17.07 0.98 19543479 17.50 11.25 - - - -

Nishat Power Ltd 3541 27.90 16.23 17.75 15.69 17.30 1.07 13774101 17.75 12.30 - - - -

Sitara Energy Ltd 191 3.54 18.50 19.00 18.25 18.95 0.45 16418 22.35 17.98 20 - - -

Southern Electric 1367 - 2.23 2.35 2.15 2.21 -0.02 1277880 2.80 2.05 - - - -

Tri-star Power XD 150 - 1.05 1.15 0.90 1.05 0.00 21607 1.75 0.65 - - - -

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,148.83 1,161.53 1,118.33 1,147.68 -1.15 -0.10

Turnover Total cos Defaulter cos Listed cap Market cap 200-Day High

18,919,472 - - 50,077.79 mn 79,381.43 mn -

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 200-Day Low

6.15 0.79 12.84 62.56 10.17 -

Pak Datacom 78 4.88 79.80 80.00 78.50 79.00 -0.80 7460 106.00 76.50 80 - - -

Pakistan Telecomm Co A 37740 13.00 19.42 19.70 18.96 19.50 0.08 13475429 20.12 18.21 17.5 - - -

Telecard 3000 0.65 2.21 2.28 2.14 2.17 -0.04 1374785 2.69 2.10 1 - - -

WorldCall Tele 8606 - 2.90 2.87 2.54 2.71 -0.19 4370809 3.45 2.40 - - - -

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 6.67 11.00 11.25 10.55 11.00 0.00 44153 12.75 10.00 - 25R - -

Atlas Insurance 369 6.12 38.53 39.77 37.51 38.50 -0.03 16544 39.90 28.81 - - - -

Central Insurance 279 8.00 67.00 72.90 65.00 70.42 3.42 14578 72.90 47.51 10 10B - -

Century Insurance 457 7.34 11.27 11.99 10.65 11.75 0.48 196547 12.00 9.45 - - - -

EFU General Insurance 1250 - 44.04 44.40 41.84 42.62 -1.42 176882 48.63 35.00 - - - -

Habib Insurance 400 3.56 14.05 15.39 14.01 14.94 0.89 90921 15.39 10.04 - - - -

IGI Insurance 718 17.29 96.89 96.00 92.00 93.21 -3.68 9709 99.88 72.01 10 20B - -

New Jub Insurance 791 15.70 59.33 59.16 56.50 58.25 -1.08 12152 60.90 52.75 - - - -

Pak Reinsurance 3000 41.92 16.25 16.75 15.70 16.35 0.10 3055600 17.20 13.61 - - - -

PICIC Ins Ltd 350 - 8.01 9.50 7.35 8.99 0.98 310479 9.50 1.96 - - - -

Premier Insurance 303 6.75 11.41 12.85 11.01 12.48 1.07 99362 12.85 8.00 - - - -

Shaheen Insurance 200 - 13.40 14.20 12.05 13.44 0.04 5040 14.53 11.65 - - - -

Silver Star Insurance 253 4.23 7.05 7.45 6.81 6.81 -0.24 28992 8.17 6.01 - - - -

United Insurance XB 400 2.23 6.80 7.40 6.50 6.81 0.01 5985 7.40 4.55 - - - -

UPTO 5000 VOLUME

AATM 0.99 0.99 0.95 0.95 -0.04 5000CML 2.55 2.65 2.17 2.46 -0.09 4725DYNO 11.20 11.80 11.00 11.00 -0.20 4547STJT 19.21 19.60 19.10 19.25 0.04 4300ICL 34.50 35.35 31.35 32.41 -2.09 4153JDMT 16.00 16.90 13.90 14.00 -2.00 4075MUKT 0.78 0.84 0.33 0.82 0.04 4023ATEL 17.20 18.19 16.00 18.19 0.99 4003UNIM 0.08 0.95 0.08 0.55 0.47 4000BATA 689.15 700.00 640.00 642.71 -46.44 3721STCL 8.48 9.15 8.00 8.50 0.02 3592LAKST 289.92 304.41 280.06 298.48 8.56 3549ALICO 18.00 18.49 17.50 17.50 -0.50 3512BTL 46.15 48.00 46.15 48.00 1.85 3500PCAL 54.82 55.74 52.10 52.10 -2.72 3372MERIT 24.49 25.00 22.71 23.00 -1.49 3261NOPK 26.00 27.24 23.95 24.79 -1.21 3219KML 2.94 3.72 2.05 2.64 -0.30 3115SING 20.20 20.24 19.50 19.50 -0.70 3106SGPL 1.25 1.25 0.70 1.00 -0.25 3010AABS 94.90 94.90 90.16 94.50 -0.40 3002GFIL 4.05 5.05 3.52 4.00 -0.05 3001CLOV 73.43 78.00 69.84 74.00 0.57 2986SZTM 5.00 6.05 5.00 6.05 1.05 2984JVDC 59.97 63.05 56.50 59.12 -0.85 2922SIBL 4.18 4.00 3.35 4.00 -0.18 2878COLG 923.00 965.00 881.00 935.80 12.80 2871TSML 34.00 35.50 34.00 35.50 1.50 2805MSOT 20.00 20.25 19.30 19.54 -0.46 2800FUDLM 6.15 6.15 6.00 6.06 -0.09 2698TREI 2.00 2.00 1.85 1.90 -0.10 2600MODAM 1.51 1.55 1.30 1.55 0.04 2573SARD 0.90 1.10 0.90 1.10 0.20 2500FHBM 8.24 8.00 7.61 7.62 -0.62 2346CPMFI 4.00 4.50 3.10 3.16 -0.84 2157FIMM 54.00 61.19 54.00 61.19 7.19 2153BILF 1.26 1.70 1.26 1.68 0.42 2134TRSM 1.75 1.78 1.75 1.77 0.02 2110SCLL 2.84 2.89 2.58 2.85 0.01 2061JOPP 9.43 10.20 7.96 8.00 -1.43 2028ESBL 2.79 2.75 2.36 2.69 -0.10 2002TRPOL 0.63 0.71 0.67 0.71 0.08 2001LEUL 1.60 2.60 1.60 2.47 0.87 2000FNEL 8.80 9.00 8.00 8.69 -0.11 1974IDEN 10.00 13.88 11.00 13.50 3.50 1945SGML 5.53 6.80 5.10 5.93 0.40 1920SASML 9.75 11.20 10.00 11.00 1.25 1909MIRKS 51.60 53.00 48.11 50.51 -1.09 1850PAKMI 0.96 1.24 0.96 1.01 0.05 1746ULEVER 4360.17 4449.89 4165.66 4353.80 -6.37 1679KOHP 4.62 4.78 4.30 4.60 -0.02 1642NESTLE 2374.86 2499.99 2332.50 2471.66 96.80 1637EMCO 2.90 3.50 2.50 2.89 -0.01 1630BCL 44.10 45.50 43.76 44.50 0.40 1612FFLM 1.74 1.80 1.40 1.59 -0.15 1598GRAYS 49.99 52.40 49.50 49.85 -0.14 1597ISIL 76.00 78.90 72.20 74.79 -1.21 1531AKGL 6.45 6.50 5.39 6.39 -0.06 1502DFSM 4.50 3.61 3.55 3.61 -0.89 1500BWCL 21.10 21.10 18.10 18.10 -3.00 1310THCCL 18.88 18.25 17.88 18.00 -0.88 1300ELSM 20.05 21.00 19.35 20.50 0.45 1288PECO 249.99 262.00 216.60 216.60 -33.39 1214ICCT 1.26 1.99 1.26 1.59 0.33 1152MEHT 58.25 60.00 57.20 60.00 1.75 1100GATI 42.83 44.93 43.40 43.69 0.86 1066WAZIR 8.79 8.89 7.60 8.40 -0.39 1060GUSM 6.89 7.80 6.00 6.48 -0.41 1030SHTM 0.34 0.50 0.30 0.49 0.15 1018ANSS 5.00 5.10 5.00 5.00 0.00 1000QUAT 13.45 13.50 13.45 13.50 0.05 1000ARM 15.00 15.90 15.90 15.90 0.90 1000RICL 6.60 6.60 6.60 6.60 0.00 972PGCL 22.05 24.78 21.00 24.70 2.65 927GLAT 7.50 7.50 7.50 7.50 0.00 900GLPL 62.50 62.70 59.69 62.24 -0.26 856SHJS 80.15 76.15 62.05 62.05 -18.10 809IDYM 328.20 311.95 254.06 254.06 -74.14 805UVIC 3.38 3.99 2.85 3.99 0.61 774FANM 2.90 3.25 2.90 3.25 0.35 700AASM 33.58 40.00 34.00 38.99 5.41 678QUET 37.98 41.79 37.98 39.91 1.93 620YOUW 1.50 1.73 1.40 1.73 0.23 618ALQT 7.38 8.38 7.00 7.50 0.12 605CWSM 1.17 1.64 1.02 1.39 0.22 542FZTM 400.00 419.47 379.53 413.61 13.61 535SUTM 36.11 37.00 35.50 35.50 -0.61 520TATM 33.03 37.50 34.49 37.45 4.42 507FASM 32.55 33.01 32.50 33.01 0.46 501MUBD 4.00 3.00 2.75 2.75 -1.25 500DATM 0.50 0.57 0.50 0.54 0.04 500KHSM 1.60 1.50 1.50 1.50 -0.10 500MUBT 0.75 1.20 0.75 1.20 0.45 500KHTC 26.97 34.39 28.31 34.39 7.42 500FPJM 1.74 1.68 1.35 1.68 -0.06 495SFL 129.10 129.10 120.00 120.00 -9.10 454CRTM 23.72 23.05 22.55 23.05 -0.67 420LIBM 62.96 66.05 62.96 65.00 2.04 400PSEL 168.25 170.00 159.60 159.60 -8.65 390HUSS 11.00 11.00 9.86 9.86 -1.14 380SALT 61.90 64.30 58.85 64.30 2.40 377ARUJ 5.25 5.40 4.55 4.55 -0.70 301LMSM 1.50 1.50 1.50 1.50 0.00 300SAPL 142.00 145.00 140.50 143.50 1.50 292SNAI 46.04 48.45 43.60 47.06 1.02 277FTSM 1.39 1.39 1.35 1.35 -0.04 264ISTM 6.88 7.70 6.75 7.25 0.37 222SLYT 4.39 4.39 4.02 4.02 -0.37 215TICL 81.26 77.20 62.89 62.89 -18.37 203FZCM 70.00 75.98 70.00 72.19 2.19 202PTEC 2.35 2.20 2.12 2.20 -0.15 201POAF 10.35 9.78 8.00 8.03 -2.32 200RMPL 2109.87 2226.95 2010.00 2090.30 -19.57 146BFMOD 3.30 4.00 3.21 4.00 0.70 140HWQS 19.90 22.00 19.50 22.00 2.10 137DIIL 12.98 15.84 12.82 12.82 -0.16 116NMBL 1.60 1.79 1.60 1.79 0.19 102BIFO 56.99 59.20 53.31 53.31 -3.68 94GAMON 1.53 2.26 1.32 1.51 -0.02 75FECS 49.51 51.40 44.59 46.55 -2.96 75BAFS 60.79 61.40 58.00 61.40 0.61 73REWM 9.10 9.50 9.01 9.01 -0.09 73KOHS 5.08 5.34 3.31 5.00 -0.08 44TOWL 6.26 6.26 4.90 4.90 -1.36 39GUTM 18.63 21.00 18.00 19.66 1.03 37SCL 92.11 96.49 92.11 95.24 3.13 36UPFL 1105.00 1111.00 1100.00 1110.45 5.45 31TSBL 1.75 3.25 1.74 3.25 1.50 24ASFL 5.72 5.72 4.00 4.00 -1.72 14LPGL 14.88 16.87 15.87 15.87 0.99 11PHDL 35.73 37.44 32.28 34.93 -0.80 10WYETH 1051.70 1100.00 1010.00 1050.00 -1.70 9NSRM 13.17 14.00 13.17 14.00 0.83 7SFWF 5.31 6.01 5.01 6.01 0.70 7

Symbols Open High Low Close Change Vol

Adamjee Insurance 60.87 88.10 87.25 89.80 90.65 88.95

Al-Abbas Cement 52.71 3.20 3.05 3.50 3.60 3.30

Allied Bank Limited 73.08 71.45 71.05 72.15 72.45 71.75

Arif Habib Corp 62.25 26.05 25.50 27.00 27.40 26.45

Arif Habib Limited 48.40 25.70 25.40 26.40 26.75 26.10

Askari Bank 61.79 17.30 16.90 18.05 18.35 17.60

Attock Cement 49.97 62.25 61.65 63.15 63.45 62.55

Attock Petroleum 68.26 341.10 338.60 346.55 349.50 344.05

Attock Refinery 64.73 128.80 126.95 132.10 133.55 130.25

Azgard Nine 40.17 9.50 9.40 9.75 9.90 9.65

Bank Alfalah 58.91 11.00 10.95 11.30 11.45 11.20

Bank.Of.Punjab 54.35 9.80 9.70 10.10 10.30 10.00

Bankislami Pak 73.13 3.90 3.80 4.15 4.25 4.05

D.G.K.Cement 55.31 30.00 29.50 30.80 31.10 30.30

Dewan Cement 51.71 2.15 2.10 2.35 2.45 2.25

Dewan Salman 60.89 3.20 3.15 3.40 3.45 3.30

Dost Steels Ltd 39.47 2.60 2.55 2.70 2.75 2.65

EFU General Insurance 42.15 42.10 41.55 43.35 44.05 42.80

EFU Life Assurance 45.91 73.55 72.65 75.15 75.85 74.25

Engro Chemical 64.10 198.00 194.40 204.15 206.80 200.60

Fauji Cement 47.72 4.95 4.85 5.10 5.20 5.05

Fauji Fert Bin 68.17 37.35 36.20 39.20 40.00 38.10

Fauji Fertilizer 76.21 130.55 128.95 133.30 134.45 131.70

Faysal Bank 53.90 15.10 14.95 15.45 15.70 15.30

Habib Bank Ltd 67.56 124.45 123.90 125.80 126.60 125.25

Hub Power 66.04 37.85 37.65 38.30 38.60 38.10

ICI Pakistan 69.05 149.10 147.85 152.05 153.75 150.80

Indus Motors 57.89 256.05 252.75 264.30 269.25 261.00

J.O.V.and CO 51.46 3.95 3.90 4.15 4.25 4.05

Jah Siddiq Co 44.21 10.95 10.85 11.20 11.35 11.10

Japan Power 50.87 1.65 1.60 1.75 1.80 1.70

JS Bank Ltd 39.48 2.40 2.35 2.50 2.60 2.45

K.E.S.C 65.52 3.05 2.95 3.30 3.45 3.20

Kot Addu Power 71.65 42.40 42.05 43.25 43.75 42.90

Lotte Pakistan 73.09 14.60 14.50 14.90 15.10 14.80

Lucky Cement 49.16 74.80 74.50 75.50 75.90 75.20

Maple Leaf Cement 44.29 2.80 2.75 2.95 3.00 2.90

MCB Bank Ltd 60.87 223.85 221.75 228.05 230.10 225.95

National Bank 71.22 77.10 76.50 78.30 78.90 77.70

Netsol Technologies 69.21 19.90 19.60 20.40 20.60 20.10

NIB Bank 61.76 3.00 2.85 3.30 3.45 3.15

Nimir Ind.Chemical 56.34 1.90 1.80 2.20 2.35 2.05

Nishat (Chunian) 60.01 23.40 23.20 24.00 24.35 23.80

Nishat Mills 71.53 66.85 65.55 69.15 70.10 67.80

Oil & Gas Dev. XD 80.69 178.15 175.60 182.10 183.50 179.55

P.I.A.C.(A) 54.46 2.35 2.30 2.50 2.55 2.45

P.S.O. XD 63.03 293.90 291.20 299.35 302.10 296.65

P.T.C.L.A 54.12 19.15 18.85 19.75 20.05 19.45

PACE (Pakistan) Ltd. 29.52 2.35 2.25 2.60 2.75 2.50

Pak Oilfields 78.67 316.90 312.05 324.65 327.60 319.85

Pak Petroleum 72.55 223.15 220.60 228.15 230.60 225.60

Pak Suzuki 55.46 71.20 70.35 72.65 73.25 71.80

Pervez Ahmed Sec 44.02 2.00 1.95 2.15 2.20 2.05

Pioneer Cement 51.88 6.90 6.85 7.05 7.10 7.00

Shell Pakistan 56.63 205.95 204.95 207.95 208.95 206.95

Sitara Peroxide 46.15 13.00 12.90 13.35 13.55 13.20

Sui North Gas 48.79 27.35 27.20 27.70 27.90 27.55

Sui South Gas 52.82 21.70 21.50 22.15 22.40 21.95

Telecard 42.08 2.15 2.10 2.25 2.30 2.20

TRG Pakistan 26.61 3.25 3.15 3.45 3.55 3.35

United Bank Ltd 61.21 66.35 65.60 67.75 68.40 67.00

WorldCall Tele 45.40 2.65 2.55 2.80 2.85 2.70

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Media Times Ltd 10-Jan 3.00

Tandlianwala Sugar Mills Ltd 10-Jan 5.00

Abdullah Shah Ghazi Sugar 10-Jan 4.00

Atlas Income Fund 11-Jan 2.15

Nadeem Textile Mills Ltd 11-Jan 5.00

Fauji Fertilizer Bin Qasim Ltd 25-Jan 10.30

Unilever Pakistan Limited 14-Feb 2.30

Kot Addu Power Company Ltd 16-Feb 12.30

Unilever Pakistan Foods Ltd 17-Feb 2.30

BOARD MEETINGS

Company Date Time

Monday, January 10, 2011 8

Texas insurancecommissioner to step down

NY may mergeinsurance,banking

regulatorsNEW YORK: New YorkGovernor Andrew Cuomo plansto improve regulation of WallStreet with a smaller state gov-ernment that would merge theBanking and Insurance depart-ments, Cuomo told a radio sta-tion .

Cuomo, a Democrat who tookoffice last week, is expected tooutline the new agency in hisfirst State of the State address onWednesday this week, the NewYork Post reported, citing anunidentified source familiar withthe decision.

"In terms of a new agency topolice Wall Street and protectconsumers, yes," Cuomo toldTalk 1300-AM radio when askedabout the report.

Financial regulation typicallyis the responsibility of the stateattorney general, a post Cuomoheld for four years when he wasthe unofficial "Sheriff of WallStreet," a nickname given to hispredecessor, Eliot Spitzer.

"I spent four years as youknow as attorney general. Wedid a lot of work on Wall Streetwith the federal regulators, SEC(Securities and ExchangeCommission), et cetera, and alsowith the state regulators. And Ithink the state can do a betterjob, frankly, of regulating andprotecting consumers and regu-lating Wall Street," he said.-Reuters

WASHINGTON: Seven automobileinsurance firms have followed AllstateInsurance Co in suing Toyota MotorCorp to recover money they paid inclaims for car crashes blamed on unin-tended acceleration of Toyota vehicles.

The insurers' court action has openeda new front in U.S. civil litigationmounting against the Japaneseautomaker as the company battles tomove beyond an auto safety crisissparked by wide-ranging complaints ofToyotas speeding out of control.

Acceleration problems in Toyotas ledto renewed scrutiny from federal regu-lators, several congressional hearingsand a series of worldwide recalls thatdamaged Toyota's reputation for quali-ty.

The National Highway Traffic SafetyAdministration is investigating reportsthat as many as 89 crash deaths since2000 may be linked to sudden accelera-tion in Toyotas and the company's lux-ury-line Lexus vehicles.

Toyota also faces an estimated $10billion in potential civil liability in U.S.courts for consumer fraud, personalinjury and wrongful death claims stem-ming from acceleration complaints.

The latest lawsuits, filed earlier in

Los Angeles County Superior Court,echo claims in separate cases pendingelsewhere that Toyota long ignored andhid a defect that causes some of itsengines to surge out of control, andfailed to install a brake-override systemthat would have prevented accidents.

The seven insurers are collectivelyseeking compensatory damages of atleast $188,000, a fraction of the $3 mil-lion in losses sought by Allstate in itsown filing in October for itself andaffiliates.

The seven latest companies to bringsuch subrogation actions againstToyota are: American AutomobileInsurance Co, Fireman's FundInsurance Co, National Surety Corp,Ameriprise Insurance Co, IDSProperty Casualty Insurance Co,Motorists Mutual Insurance Co andAmerican Hardware Mutual InsuranceCo.

Their suits, brought in three separatefilings, come nearly two weeks after itwas disclosed that Toyota agreed to pay$10 million to settle legal claims fromthe family of a California state trooperand three relatives whose fatal carwreck in 2009 helped trigger theautomaker's recalls.-Reuters

Toyota shifts todefensive gear as

insurers move court

TAIPEI: A woman walks into the headquarters of Nan Shan Life, the Taiwan unit of

US insurance giant AIG.-Reuters

TFD Report

KARACHI: Positive activities wereobserved in the insurance stocks lastweek at the Karachi Stock Exchange(KSE) with near 9 million shares trad-ed together in life and non-life insur-ance stocks. Adamjee Insurance was the volumeleader with 4.47 million shares fol-

lowed by Pak Reinsurance with 3.05million shares. Top gainers of the weekinclude, Central Insurance whichincreased by Rs3.42 to close at Rs70.42and Adamjee Insurance jumped byRs1.41 to close at Rs88.91 while NewJubilee Life Insurance fell by Rs4.09 toclose at Rs42 and IGI Insurance lostRs3.68 to close at Rs93.21 to be themajor losers.

KSE insurers gainweight last week

SUKKUR: Director BenazirIncome Support Programme (BISP)Sukkur Region Qasim Bughio hassaid that one million poor familieswould get life insurance facilityunder the BISP and termed it a newyear gift from the government to themasses.

Talking to APP here, he said that150,000 mobile phones have been dis-tributed among the poor families in thefirst phase in the four districts includingLarkana, Musa Khel, Layyah and

Batgram to enable them avail modernmobile phone banking system and getmonthly financial assistance in trans-parent manner.

More BISP beneficiaries will be ableto avail the facility, he added.

He said that the BISP registered fam-ilies would get Rs100,000 within15 days after the death of their familyhead under the life insurance scheme.He said that well over 50 per cent workof the poverty survey had been com-pleted. -APP

1mn households tohave life insurance

BRUSSELS: Belgium's KBC hasincreased provisions for bad loans at itsIrish unit, with analysts expecting moreto come from the bank and peersexposed to Ireland.

KBC Ireland said at its third quarterresults in November that it had a loanportfolio of 17.4 billion euros of which75 per cent were mortgages. At the sametime, KBC Group reported an exposureof 500 million euros to Irish sovereigndebt.

KBC said it will take additional netprovisions of up to 330 million euros($433.7 million) for losses on Irishloans and for irregularities at KBCLease UK.

Albert Ploegh, an analyst at ING whohas a hold rating on KBC, said he wasunsure whether the provisions were

enough to draw a line under KBC's Irishproblems.

"KBC has now put aside 300 millioneuros, my own stress test points to 1 bil-lion euros. I've seen others mention 600million. This announcement wasinevitable, but I question whether it isenough. Doubts will remain in the mar-ket."

Shares of KBC fell as much as 5.3 percent in early session but recovered totrade 2 per cent lower at 1410 GMT.

In Ireland, where KBC owns KBCBank Ireland, the banking and insurancegroup said it will take total net provi-sions of 263 million euros ($346 mil-lion) for its commercial and residentialmortgage lending portfolio in the fourthquarter, part of which it has alreadytaken into account.-Reuters

Belgian KBC takes hit

ISLAMABAD: As part of its enforce-ment and regulatory function, theInsurance Division of the Securitiesand Exchange Commission of Pakistan(SECP) has passed three orders, finingdefaulting insurance companies inDecember, mainly on the grounds ofnon-compliance with the statutorydeposit requirements.

The department also recovered thepenalty amounted to Rs 421,000.

According to a statement issued here,in order to ensure market surveillance,

the Insurance Division is in the processof formulating regulations on microin-surance and developing its legal frame-work for specialised microinsurancecompanies.

In this regard a task force has beenconstituted comprising representativesfrom the SECP, SBP, IAP, PMN, NRSP,PMN, NGOs, microfinance banks andinsurance companies. The first meetingof the task force was held on November23, followed by its sub-group meetingheld in early December 2010.-Agencies

SECP penalises3 microinsurers

Insurers doubtwatchdogsready for

Solvency IIFRANKFURT: Many insur-ers are worried that regulatorswill not be prepared foradministering complex newcapital rules designed to makeinsurers safer, a survey byaccounting firm PwC hasshown.

"More than 40 per cent of115 international insurancecompanies do not believe thatthe responsible authoritieswill have the resources neces-sary for the start of SolvencyII," PwC said in a statementreleased with its survey.

Solvency II rules, effectivefrom Jan. 1, 2013, are sup-posed to help protect policy-holders by requiring insurersbetter match the risks on theirbooks with the capital theyhold to cover those risks. Therules are being hammered outby the new EuropeanInsurance and OccupationalPensions Authority, whichofficially started operationsthis week. -Reuters

Ping Anstocks fall

on rumoursof fundraisingSHANGHAI: Shares of Ping

An Insurance (Group) of

China Ltd slumped to three-

month lows in Shanghai on

market rumours that the coun-

try's second-biggest life insur-

er was planning to raise as

much as 100 billion yuan ($15

billion) through a share sale.

Brokerages including Citic

Securities Co and Guotai

Junan Securities have recent-

ly predicted in notes to clients

that Ping An, which acquired

Shenzhen Development Bank

last year, has a capital short-

fall of 20-50 billion yuan.

"The figures are based pure-

ly on analyst calculations,

rather than any information

from the company," said

Huang Huamin, analyst at

Citic Securities, who forecast

a shortfall of 30-40 billion

yuan.

Speculation is swirling in

the market, however, that

Ping An may need to raise as

much as 100 billion yuan, and

that the company may also

have suffered from poor

investment returns during the

fourth quarter of 2010.-

Reuters

9Monday, January 10, 2011

International

Record food prices will hitthe world's poorest hardest,raising the risk of riots,

export bans, foreign-owned farm-land expropriation and furtherprice spikes fuelled by short-terminvestors. The UN Food andAgriculture Organisation said onWednesday food prices hit a recordhigh in December and could risefurther on erratic global weatherpatterns. For the first time theyoutstripped levels reached in early2008, when spiralling pricesprompted riots in countries includ-ing Haiti, Egypt and Cameroon and

brought demands for tighter com-modity market regulation.

The potential humanitarian,political and business impact --particularly in impoverished stateswhere food makes up the largestcomponent of the inflation basket -- is already alarming policymakersand senior officials.

"Food price increases impact thepoor hardest as food is a higherproportion of their incomes," said

James Bond, chief operating offi-cer of the World Bank's politicalrisk insurance arm the MultilateralInvestment Guarantee Agency(MIGA).

"It creates significant tension inpoorer countries, exacerbates stan-dard of living disparities and is amajor source of unrest."

The 2008 price spike came to anabrupt end in September that yearwith the global crash that followedthe demise of Lehman Brothers,sucking borrowed money out ofmarkets as lenders called in theirdebts.

But right now, no one expectsthat to happen again.

So far, experts say weather-relat-ed supply shocks -- floods inAustralia, drought in Argentina,dry weather and fires in Russia andpotentially crop damaging frosts inEurope and North America -- werelargely to blame. But they worrypolitics and markets could soontake over to produce a vicious cir-cle.

"The danger is that what happensnow is that you get a second shockas countries can respond by impos-ing export bans and financial mar-kets investors pile in for short-terminvestment, pushing prices muchhigher, as they did in 2008," saidMaximo Torero, divisional directorfor markets, trade and institutionsat Washington DC's InternationalFood Policy Research Institute(IFPRI).

Russia imposed export restric-tions last year after fires anddrought. In 2008, IFPRI says atleast 13 countries includingArgentina, Cambodia, Kazakhstan,China, Ethiopian, Malaysia andZambia imposed either export bansor taxes, further squeezing supply.

POLITICAL RISK INSURERS WATCH

Torero said reports of unrestcould further fuel price rises, driv-ing speculative investment andpromoting panic buying -- even ifthe causes might often in reality bemore complex.

He pointed to reported food riotslast year in Mozambique as anexample, saying in reality theywere as much about subsidy cuts assupply issues.

"Clearly what is needed is toincrease production through appro-priate investment in agriculture, toincrease the information on stocksaround the world, strengthen theregulation of the futures marketsand to have safety net mechanismsto protect the poorest consumers,"he said.

Political risk insurers, who pro-vide protection against dangerssuch as confiscation or politicalviolence, are watching closely --although they say there has not yetbeen any direct impact on premi-

ums."The potential is there for food

riots and also for governments totake action such as embargos onfood exports or nationalisation ofassets involved in food productionor storage in order to protect theirpeople -- not always necessarilyfor the sake of altruism but often topreserve their position as govern-ments in office," said a seniorunderwriter in the London politicalrisk insurance market.

The highest risks of farmlandexpropriation remain in LatinAmerica, insurers say -- particular-ly Venezuela, Bolivia and Ecuador-- but this is more down to localpolitical factors than rising prices.The greatest impact of the recentrally could be on land deals inAfrica, some suggest.

RISK MITIGATIONSTRATEGIES

The 2008 spike produced a flurryof interest in farmland purchasesboth from Western funds and rich-er emerging countries such asChina and Gulf states keen to pre-serve their supplies.

While some deals fell throughafter the crash, others are nowentering production. But they haveproved controversial. Local angerover the purchase of Madagascanfarmland by South Korean firmDaewoo was seen by some as acontributing factor in the island's2009 coup.

"The main risks will come wherethey are in an area where the popu-lation is short of food themselvesand the deal is seen as being insome way inappropriately negoti-

ated," said Jonathan Wood, globalissues analyst at Control Risks. "Somany of these projects are in EastAfrica: Ethiopia, Kenya, Tanzania.But a lot will depend on the indi-vidual deal."

Some investors such as London-based funds Emergent AssetManagement and Chayton Capitalsay a key part of their strategy hasbeen to ensure such projectsclearly benefit the local commu-nity, for example through localmilling.

"Smart investors don't own theland," said Bond at the WorldBank's MIGA. "They work withcontract farmers and see thedomestic market as their first andmost important market. It makessense from a risk mitigation strate-gy." -Reuters

RISING FOOD PRICES BRING

HOST OF POLITICAL RISKS* WORLD'S POOREST TO BEAR BRUNT OF RISES * RISK OF RIOTS, EXPORT BANS,

EXPROPRIATION * RISE IN DEMANDS FOR GREATER MARKET REGULATION

Strength in price, tradingvolumes and marketstructure of Brent crude

has helped to lure some of thebig investment money that hastypically favoured U.S. oilfutures -- a trend that is likelyto gather momentum.

For decades, those who pre-fer Brent have based theirarguments on its usefulness asa benchmark for crude sales inEurope, the Middle East,Africa and Asia -- encompass-ing major exporters and thefast-growing Chinese andIndian markets.

U.S. crude has been thechoice of chiefly U.S.-basedinstitutional investors, such aspension funds, which startedmoving into commodities inearnest early in the last decade.

The investor presence infutures markets is most obvi-ous in the S&P GSCI, thebiggest of the commodityindexes. It still has a dominant

weighting in U.S. energyfutures but has increased itsexposure to Brent and anotherEuropean marker, gasoil,effective this week.

"It does make a lot of sensefor Brent to be included in theindices, because it's a muchmore international benchmarkand it has not suffered as muchin terms of negative yield,"said Michael Lewis, head ofglobal commodities research atof Deutsche Bank.

The German bank's LiquidCommodity Index has a mar-ginally higher weighting inBrent than in U.S. crude, alsoknown as West TexasIntermediate, WTI or just TI.

John Lecky, a director atDow Jones Indexes, said itsDJ-UBS Commodity Index, aU.S. crude-only index, hadseen significant inflows in2010 and that investors usingcommodities to diversifyinvestment portfolios were

often "agnostic to the crudetype in the index".

But he also said they wereinterested in having as "manytools as possible to measureand invest in markets". Hence,Dow Jones Indexes and UBSlaunched the DJUBS BrentCommodity Index in June2010.

STRUCTURALSTRENGTH

In addition to its premium toU.S. crude, Brent has also beenstructurally stronger, withfront-month Brent mostlybackwardated since earlyDecember -- meaning crudefor early delivery is moreexpensive than that for laterdelivery.

U.S. crude in contrast hasbeen locked in the oppositestructure -- contango -- whichsaps yields for those indexes,notably those in the S&P GSCIfamily that roll positions frommonth to month at the front of

the curve.This negative roll yield has

encouraged innovativeapproaches even for conserva-tive long-only institutionalinvestors, and one kind ofdiversification has been toedge towards Brent, whose liq-uidity has increased.

Based on total futures vol-umes traded in dollars, the2010 and 2011 index rebalanc-ings shifted towards Brent,said Michael McGlone, adirector of commodity index-ing at Standard & Poor's.

"Yes, there has been a vol-ume migration towards Brent,"he said, when asked about anyshift by institutions.

For 2009, by contrast, Brentand gasoil weightings werecut, he added, because thoughtheir volumes rose, U.S. cruderose more.

RELATIVE STRENGTHBrent price strength has been

in part a function of U.S. crude

weakness as stocks in theworld's biggest oil burnerswelled.

Cushing, Oklahoma, is thedelivery point for U.S. crudefutures, and storage levels atthis oil hub can have a bigimpact on prices and thespread between Brent and U.S.crude. At its height in May2010, Brent traded at a morethan $6 premium to U.S.crude. The gap narrowed asU.S. stocks descended frompeaks scaled in September andexpectations of economicrecovery in the United Statesled to anticipation of risingdemand.

In recent days, Brent's pre-mium has again increased,however, and on Thursday roseto nearly $6 a barrel, the high-est spread in seven months,while the U.S. contango deep-ened to around $1.25.

Like its U.S. rival, Brent alsofaces local issues.

Production volumes ofBrent, Forties, Oseberg andEkofisk, the four crudes thatmake up the physical datedBrent crude benchmark thatunderpins Brent futures trade,are falling steadily.

Supply of Nigerian crudeshas also been disrupted, andshipments of Russian Uralscrude to northwest Europe arelower this month. Both crudesare priced off Brent, and itsrise in part reflects a percep-tion of their tightened supplies.

Asian buyers, regarded as thegreatest source of futuredemand, also have a prefer-ence for Brent as a benchmark.

"Brent, in contrast to WTI isseaborne, so it's the sort of oil,which is profiting more fromthe strong demand in Chinaand other countries," saidEugen Weinberg ofCommerzbank.

"Brent is gaining in impor-tance in contrast to WTI as a

world benchmark. It's alsoaccepted more by investors."

Some have argued one ofBrent's attractions is that it isnot distorted by investment-class money, which althoughmore actively managed than inthe past, still tends to be long-only.

At least for now, Brent'sphysical strength could out-weigh any impact from biginvestors buying positions forthe long term, analysts havesaid.

Still those who take a long,broad view on commodities asa portfolio diversifier will lookbeyond any temporary shift inthe relative merits of Brent orU.S. crude.

"The bulk is still likely to bein U.S. crude -- but the mainchoice is probably not Brent orU.S. crude but what kind ofindex," said one seasonedinvestor who asked not to benamed. -Reuters

Brent oil lures some big US crude investors

Six days into his six-month stewardship of theEuropean Union,

Hungarian Prime MinisterViktor Orban conceded onThursday he had made a badstart. It may well get worsebefore it gets better.

The beginning of any EUpresidency, which passesamong the 27 member statesfor six months at a time, isoften fraught, as each adminis-tration gets used to having anintense spotlight shone on itsorganisational skills and policyagenda.

But Hungary has given itselfa particularly rough ride.

The passage of a new medialaw, with potential fines forbroadcasters, newspapers andwebsites that breach a tight setof rules, has been denouncedby Germany, France andBritain and is being examinedby the EU's executive, theEuropean Commission.

Major foreign companieshave complained about newwindfall "crisis taxes" target-ting the retail, telecoms andenergy sectors, and a separatenew levy on banks.

"I agree this is a bad start,who would want to start likethis?" Orban told foreign jour-nalists invited to Budapest forbriefings at the start of the EUpresidency on Thursday,adding that there was little hecould do about it.

"Since I cannot change it, Iaccept it, I'll live with it. I willprotect the law. I will protectour national policies," he said,speaking through a translator.

In addition to the uproar overthe media law, there is conster-nation about a policy of offer-ing citizenship to ethnicHungarians living in neigh-bouring states, a move that hasangered Slovakia, with Orbannot ruling out allowing newcitizens to vote in Hungarian

elections.Orban has also broken off

talks with the InternationalMonetary Fund on a packageof loans, launching a set ofunorthodox fiscal policy stepsto boost growth, while reject-ing austerity measures fol-lowed by several western EUmembers.

He is mired in a dispute withthe head of the Hungarian cen-tral bank and his governmentwants to change appointmentrules to the Monetary Councilin a move widely seen as anattempt to push it into mone-tary easing.

Orban, who returned topower in April 2010 with hisFidesz party winning a land-slide victory at elections, isseen as an uncompromisingpolitician who is willing to goto the wall on issues hebelieves are crucial toHungary's national interests.

He said on Thursday that

Hungary would change itsmuch-criticised media law ifthe EU wants, but also statedthat there was nothing in thelaw that was not in other EUcountries' legislation.

"He is never willing to makeany compromises except whenhe is forced to make a compro-mise. For him the main thing isvictory," an EU diplomat inBudapest said.

"There is now a negative spi-ral, which is no longer basedon one single issue -- themedia law -- but the overallpolicies of the Orban govern-ment."

In front of the foreign presson Thursday, Orban displayedself-confidence and showedlittle inclination to back downon any policy. With his Fideszparty holding a two-thirdsmajority in parliament, heknows he is in a commandingposition domestically and candrive through legislation

quickly.But overseeing the EU agen-

da is a very different task, par-ticularly at a time of height-ened concern over the eurozone debt crisis, with majortrading partners such as China,the United States and Indialooking for the EU to show ithas its economic priorities inorder and is dealing with them.

It is up to Hungary, in coor-dination with the president ofthe European Council, HermanVan Rompuy, to show the EUit has the task in hand -- mis-takes or poorly communicatedstrategy risk further rilingfinancial markets.

"It is unclear whether theantipathy towards theHungarian government willescalate further or develop intoanother dimension but it willsurely make the central task ofthe presidency more difficult,"said Zoltan Novak, a policyanalyst at Meltanyossag

Intezet, a Hungarian thinktank. "It will be very hard for apresidency to build consensuson exceedingly contentiousissues if there is already oppo-sition to it... The EU presiden-cy is a consensus-building mis-sion, where countries withvery divergent interests mustbe brought together on thesame page."

In a reflection of how Orbanis regarded from the outside,and how confidently he dealswith criticism, he was asked onThursday what he thoughtabout having his style of gov-erning compared to RussianPrime Minister Vladimir Putin.

He smiled and referred to hislast time in office.

"From 1998 to 2002, theWestern press said I was remi-niscent of Hitler and Il Duce(Benito Mussolini). Now theycompare me with Putin and theBelarussian president. I willleave it up to you to decide if it

is progress or not.""Personally I am not hurt by

such remarks, but I think ithurts, it is insulting toHungary. Hungary is a demo-cratic country."

Orban's political gusto hasclearly won him popularity athome, much in the same waythat Italian Prime MinisterSilvio Berlusconi enjoyedstrong ratings before his latestpersonal scandals, but from anEU policy point of view it is aconcern.

"Normally, the six-monthEU presidency is a staid andlow-key affair," saidConstanze Stelzenmueller, asenior fellow at the GermanMarshall Fund in Berlin.

"But that is clearly too tamefor the pugnacious governmentof Prime Minister ViktorOrban... There can be no doubtthat Hungary poses a very seri-ous challenge for the EuropeanUnion." -Reuters

After bad start, Hungary takes over EU presidency

10Monday, January 10, 2011

The world of cricket fansis just few days awayfrom the International

Cricket Council's (ICC) flag-ship event, the World Cup2011, an event which will beheld on a continent that has itsfans in every nook and cornerof it, the Indian Sub Continent.

India, Bangladesh, and SriLanka have been given thehonor of co-hosting the presti-gious event whereas people ofthe land and above all fans andfanatics residing worldwidehave started to prepare them-selves for the grand stage of allevents of cricket. Whether it'sthe T20 format of the game orTest format, the 50-over WorldCup event even with the pas-sage of 35 plus years has not atall lost its worth.

The importance of the gameis visible not only by thepreparations underwent by themanagements of the trio coun-tries in upgrading the stadiumand other facilities but is alsoevident from the teams and thefans perspective.

Teams especially belonging

to the trio host countries havebeen making their due effec-tive place in the recent match-es victories, glory, esteem is allthat the 3 nations are collectingfor the last couple of months orso.

Records are being made byBangladesh, Sri Lanka where-as the aspect which wasunthinkable was effectivelythought, planned and finallydone by the Indian side.Bangladesh knocked out Kiwisand Aussies, whereas theLankans and Indians roseagainst 'the Invincible' of thegame 'Australia. A peek at thelast few months record of theteam in almost all aspects ismaking the other continentalteams of England, Kiwis,Aussies, Proteas worry andfear.

Enthusiasm from the fansside is so much so that cricket-lovers have started to buy thetickets of the first matchbetween India and Englandwhereas the event still is 96days away. Managementknowing that cricket runsalong with the blood of theAsian nation have madeimportant upgrades in theirstructures, technology, andfacilities etc. India's EdenGardens ground that willbecome the battle ground forthe inaugural match has beenmassively upgraded to accom-modate 100,000 fanatics, defi-nitely a real effort by theIndian management.

Well keeping aside the pres-ent scenario of the game let usdo some historical sneak peakand know about the previousworld cups, their importantaspects and their crown wear-ers.

World Cup 1975:-1975 was the year that for the

1st time witnessed the greatgentlemen's game flagshipevent. The event included 8nations of the world that isEngland, Australia, WestIndies, India, Pakistan, NewZealand, Sri Lanka, and EastAfrica.

The event commenced from7 June and continued till 21June, witnessed Clive Lloydlead West Indies become firstever proud owners of the inau-gural tournament. Each teamin a match was given 60-oversto bowl at that time. WestIndies an impressive side atthat time who even started thetourney as favorites graspedthe title by beating the Aussiesby 17 runs.

Whereas in the event mostruns were scored by New

Zealander Glenn Turner (333)whereas the most wicket takeaward went to Garry Gilmourwho took 11 wickets in thewhole tourney. Aussie GarryGilmour also became the 1stever highest wicket-taker in asingle match by taking down 6English players in a semi finalmatch, interestingly the eventwas hosted by England whowere also strong opponents. Ina total 15 matches were playedbetween the 8 sides.

World Cup 1979:-The 2nd event took place

after 4 years and yet again washosted by England who thistime made an impressiveattempt to put their hands onthe title that they failed to stealfrom every one in the lastyear's event but Lloyd's Indieswere not willing to give awaythe trophy that easily, andtherefore became the 2-timeWorld champs by beating infact thrashing the English side.

Lloyd's men gave a hand-some target of 286 at the lossof 9 wickets thanks to man ofthe match Viv Richards whoput on the board a lump scoreof 138. England on the otherhand despite having the homeadvantage was restricted andthe whole team collapsed atjust 194 in 51 overs. This timethanks goes to "Big Bird" JoelGarner who made Clive Lloydproud by targeting 5 Englishmen for just 38 in 11 overs.Theevent this time showcasedagain 8 teams who were bifur-

cated in 2 groups A and B. Theteams were Australia (GroupB), England (Group B), India(Group A), NewZealand(Group A), Pakistan(Group B), West Indies (GroupA), Sri Lanka (Group A),Canada (Group B).

World Cup 1983:-The 3rd World cup event

brought luck, happiness and ofcourse the trophy to the Indiansubcontinent. Team India whobrutally lost all its matches inthe last World cup did showedthe world that they were notthat bad. Just after 4 yearsKapil Dev proudly held highthe trophy in front of photogra-phers, critics, media represen-tatives, the audience at the sta-dium and thousands watchingthe ceremony from their homesand proved that they are notminnows any more.

Young Kapil lead team dev-astated the 2-time champsWest Indies at that time 'TheInvincibles' and won the finalsby 43 runs. India's over allperformance in the wholeevent was laudable young

Kapil proved that young age isnot a big deal, by leading histeam even in crisis situationsuch as in the match againstZimbabwe where the teamwas trying to stable at 17/5and Kapil came hit an effec-tive century put on the scoreboard 175 of 138 balls andmoved forward to grab theworld cup by winning againstthe Zimbabweans.

Against Indies the Indiansdid faced difficulty and onlypasted a score of 183 but sur-prisingly all the Indies wentback to pavilion for just 140,thanks to the 2 Indian 3-wickettakers, Madan Lal andMohinder Amarnath whoenabled young Kapil to holdup high the trophy with theIndia name on it.

The event started from 9June and continued till 25June, showcased 8 teams,Australia (Group B),England(Group A), India (Group B),New Zealand (Group A),Pakistan (Group A), WestIndies (Group B), Sri Lanka(Group A), Zimbabwe (GroupB).

World Cup 1987:-The year 1987 again brought

respect to Asia as 2 mostimpressive cricketing nationsIndia and Pakistan were co-hosting the 4th ICC cricketWorld Cup but at the sametime at least for India ended ina sad note. The defendingchamps were overwhelmedand cleanly kept aside from the

competition by the Englandteam who won their Semi Finalagainst India hence breakingtheir dream of retaining thechamp trophy.

But this time good luck washovering over the Aussie sideas it was the 1st ever world cupthat was won by Australia.

The most important aspect ofthe event was the final of thegame that entered into a phaseof extreme emotion, stress, andenthusiasm as it is the one andonly final in which the matchwas won by just 7 runs. Creditthis time went to Allan Borderwho led his team to an emphat-ic win overEngland in EdenGardens, Calcutta.

This was the first time whenthe format was a bit changedand the overs were reduced to50 whereas this was the firsttourney in which no Man ofthe series was announced. Allthe teams who participated inthe previous World cup werecompeting in 1987 again forthe Cup. Whereas the eventkicked off from October 8thand ended with Border picking

up the trophy, on November 8.The winning of the Aussie

side was important for them asit was the beginning of a newdawn in their cricketing game.Craig McDermott of Australiatook 18, the highest wickets inthe series.

World Cup 1992:-Australia and New Zealand

jointly holding the tourney did-n't know that the cup will notremain in their continent forlong as the newest and firsttime ever champs Pakistansnatched the cup from theAussies who were thinking ofretaining the cup at all costs.

Thanks to the 39-year oldImran Khan who made thisPakistan dream come true byenabling the team win theirfirst ever world cup and hencemarking the name permanentlyon the trophy forever.

The world cup this time wasa bit colorful white uniformswere replaced by colored oneswhite balls were introducedand concept of day-nightmatch was introduced.

Kiwis were considered thehot favorites of the event asthey won 7 matches out of the8 they were bound to play.Aussies the defending champswere restricted by the emerg-ing champs Pakistan in thesemifinals on the criteria of runrate. Whereas Pakistan andEngland fought for the cup atMelbourne Cricket Ground(MCG) which eventually camein the pocket of Imran Khan

the proud skipper who saidgood bye to internationalcricket after bringing andimpressive always remember-ing win to his homeland.

South Africa took part for thefirst time, and played well,qualifying for the semi-finals.India, also 1-time champ weredefeated by Aussies atBrisbane by mere 1 run, hencea record of the closest evermatch ending in a World Cup.

Pakistan's Wasim Akram wasthe most wicket taker whopocketed 18 wickets in thewhole series whereas the par-ticipating teams were the sameexcept South Africa who madeits maiden appearance.

Wills World Cup 1996:-The sixth edition again saw

the crowning of a new champi-on this time Sri Lanka, thenation that co hosted the eventalong with India and Pakistan.Important facts about the eventwere that Aussies and the WestIndians refused to play theirmatches in Sri Lanka due toadverse security situation.

Another important aspect of

the game was the revolution-izing of the game by the everstrong Lankans who intro-duced the strategy of alwaysfielding first and chasing thescore and in the only matchagainst Kenya that they battedfirst they scored a massive398 hence putting a worldrecord.

Lankans were led by ArjunaRanatunga and included bigguns like Aravinda de Silva,Sanath Jayasuriya, Gurusinha,Chaminda Vaas andMuralitharan. This time 12teams participated in the eventand 37 matches were played.The 3 new teams introducedwere United Arab Emirates,Netherlands and Kenya. SriLanka grabbed the world cupby impressively defeatingAustralia in the final at Lahoreby 7 wickets. Man of the serieswas Sanath Jayasuriya whereasMan of the Final match wasAravinda de Silva.

ICC World Cup 1999:-The seventh edition included

an amendment in the gamerules and a new concept ofsuper sixes was introduced thatincluded 6 teams in total with 3top teams belonging to eachgroup competing for the top 4spot.

The seventh edition wasagain hosted mainly byEngland. But this time fewmatches were also held inIreland, Wales, Scotland, andNetherlands.

The winner of the seventh

edition of the game wasAustralia who grabbed the titlefor the second time by beatingPakistan in the most efficientand classy way. Pakistan wasall out at a mere score of 132 atarget which was nothing infront of the tough competitiveside if Australia, who effec-tively finished the match in acommanding way, reaching thetotal in just 20.1 overs thuswinning the match by 8 wick-ets.

Again 12 teams participatedin the event who were dividedinto 2 groups of 6 each. Theteams were Australia, England,India, New Zealand, Pakistan,South Africa, Sri Lanka, WestIndies, Zimbabwe,Bangladesh, Kenya, andScotland. The player of thetournament was LanceKlusener of South Africawhereas the most wickets inthe whole tournament weresecured by Aussie ShaneWarne and Kiwi Geoff Allot,both taking 20 wickets each.The leading scorer of the eventwas Rahul Dravid of India

with 461 score in his account.ICC Cricket World Cup

2003:-The 2003 world cup event

was the eighth flagship eventof ICC in which the defendingchamps Aussies defended theirchampionship trophy and dis-allowed all the other 13 teamsto even come close to the tro-phy hence wearing the crownof the world champs for thethird time.

The event, held fromFebruary 9 to March 24, wasfor the first time in the historyconducted in African continentwith South Africa, Zimbabwe,and Kenya co-hosting theevent. A total of 54 matcheswere played in the event andthe event saw major upsets injust the beginning pool match-es.

The names of the 14 teamsparticipating in the event areAustralia, Bangladesh,England, India, Kenya, NewZealand, Pakistan, SouthAfrica, Sri Lanka, West Indies,Zimbabwe, Canada, Namibia,and Netherlands.

Australia defended their titleeffectively by winning its finalagainst India in the most pro-lific way. Australia made 359for the loss of 2 whereasIndians were white washed andall out for just 234 henceenabling the Aussies to win bya huge 125 run. The classyPunter was the man of thematch for his thrashing 140 notout.

The leading wicket taker wasChaminda Vass of Sri Lankawhereas the Indian littleMaster Sachin Tendulkar wasthe highest scorer with 673runs and grasped his hands onthe Man of the Series award.

World Cup 2007:-The ninth time the stage was

set in West Indies to determinewho the best cricketing nationis in the world to take away theprecious trophy from theAussies. But Aussies, who hadbecome Invincible seem to ruleat each and every departmentof the game. For the third timein a row and fouth time in total,Australia remained the Worldcup holder and became theteam to win the most Worldcups.

Sri Lanka led by MahelaJayawardene tried their levelbest to restrict the Aussiesfrom scoring a hat trick win ofthe world cup but their effortswent in vain and Australiaretained their title by winningthe match by 53 runs.

The event that started from13th March and ended on 28th

April, show cased for the firsttime 16 teams South Africa,Australia, Scotland, andNetherlands were in Group Awhereas Group B constitutedof Sri Lanka, India,Bangladesh, and Bermuda.Group C had New Zealand,England, Kenya, and Canadawhereas the last group D con-sisted of Pakistan, West Indies,Ireland, and Zimbabwe.

The most important incidentthat shadowed the whole tour-ney was the sad demise ofPakistan's coach BobWoolmer, who was mysteri-ously found dead in his bath-room.

The Man of the Series andthe leading wicket taker wasGlenn McGrath from Australiawhereas the leading scorer wasalso from Australia that isMatthew Hayden.

With this brief know-how,attention and concentration isnow on the current Februaryevent, the 2011 World Cupwhich is for the third timebeing conducted in the Asiancontinent with Bangladesh, SriLanka and India co hosting theevent.

Let's see what comes nextsince the three hosts are up tothe moment the powerfulemerging teams who havebefore the event made theirtrack record pretty impressivehence creating sure problemsfor the already weakenedPunter led Aussies.

Source: sportsencounter.com

A SNEAK PEEK INTO

CRICKET WORLD CUPS

11Monday, January 10, 2011

International & Continuation

CONTINUATION

Tunisia:eight killedin clashes

with policeTUNIS: Eight civilians werekilled in clashes with police intwo provincial towns in the past24 hours, the Tunisian govern-ment said Sunday, the deadliestincidents yet in an unprecedent-ed wave of unrest.

Witnesses said another threepeople were killed in clashesSunday in a third town, butthere was no official confirma-tion of those accounts.

People taking part in theunrest, which has lasted fornearly a month, say they areangry at a lack of jobs andinvestment, but officials say therioting is the work of a minori-ty of extremists intent on dam-aging Tunisia.

A leading opposition figureurged President Zine al-Abidine Ben Ali to order acease-fire to prevent furtherbloodshed.

The government had earlierissued a statement saying twopeople were killed when policefired in self-defence duringovernight clashes in the town ofThala, about 200 km (125miles) southwest of the capital,near the border with Algeria.

In a later statement it saidthree people injured in theThala violence had since diedof their injuries and that threepeople had been killed in sepa-rate disturbances in the nearbytown of Gassrine Sunday.

"Several government build-ings in Gassrine were attackedby groups who set fire to anddestroyed three banks, a policestation and a filling station andset fire to a police vehicle," thestatement said.

"The police fired in the air butthe crowds continued and thepolice acted out of legitimateself-defence, which led to threedeaths."

Chokri Hayouni, a witness inGassrine, the administrativecentre of the region whereThala is located, told Reutersby telephone: "Young men arethrowing stones and Molotovcocktails and the police areopening fire everywhere in thestreets.#

Two witnesses in the town ofRgeb, 210 km west of Tunis,said three people there, includ-ing one woman, were killed inclashes with police Sunday.

"I saw three dead people withmy own eyes," one of the wit-nesses, union official KamelAbidi, told Reuters.

Government officials did notrespond to phone calls fromReuters seeking comment onthe casualties. Staff at the localhospital in Rgeb refused toanswer questions.-Reuters

BRUSSELS: Pressure is grow-ing on Portugal from Germany,France and other euro zonecountries to seek financial helpfrom the EU and IMF to stopthe bloc's debt crisis fromspreading, a senior euro zonesource said on Sunday.

Some preliminary discus-sions on the possibility ofPortugal asking for help if itsfinancing costs on marketsbecome too high have takenplace since July, the sourcesaid.

No formal talks on aid havestarted yet, a number of eurozone sources said, but the pres-sure was rising in theEurogroup, which bringstogether euro zone financeministers.

"France and Germany haveindicated in the context of theEurogroup that Portugal shouldapply for help sooner ratherthan later," the senior sourcesaid, adding that Finland andthe Netherlands had expressedsimilar views.

Earlier on Sunday aPortuguese governmentspokesman denied a Germanmagazine report that Lisbonwas under pressure from Berlinand Paris to seek a bailout fromthe European Union andInternational Monetary Fund.

Many policymakers hopeEU/IMF financing for Portugalwould ring fence the euro zonedebt crisis, in which Greeceand Ireland have already takenbailouts.

Help for Lisbon would aimto protect Spain which mightbe next in line, but whose

financing needs would stretchcurrent euro zone aid capabili-ties to the limit.

"The real battle will be thebattle of Spain -- but there Ithink we have much higherchances of success," the sourcesaid.

Asked to estimate the possi-ble size of a programmePortugal could need, the sourcesaid:

"More than 50 billion euros(64.5 billion pounds) and lessthan 100 billion euros, saybetween 60 and 80 billion, butthis is off the cuff, because wedon't know the needs of thePortuguese banking sector."

Portugal is viewed by manyeconomists as the peripheraleuro zone country that is mostlikely to follow Ireland andGreece as it grapples to cut itsdebts and borrowing costs.

"Portugal has not requested it-- you cannot force somebodyto want something," a secondsenior euro zone source said."Strictly arithmetically speak-ing, it would not be necessary,but given the hysterics of somemarket participants it maybecome useful."

Pressure on Lisbon to ask foraid has grown since yields onPortuguese paper rose last weekto levels that many see as unsus-tainable, the first source said.

There had already been pres-sure on Lisbon to ask for finan-cial help before an EU leaders'summit in mid-December, butto no effect, the first sourcesaid, because PortuguesePrime Minister Jose Socratesopposes such a move.

"There are still memories inPortugal of the IMF pro-gramme of the seventies, andthe loss of sovereignty that itentails," the source said.

Asked when Portugal couldbe forced to turn to the EU andthe IMF for help, the firstsource said this depended onyield developments, the posi-tion of Socrates and how muchpressure German ChancellorAngela Merkel and FrenchPresident Nicolas Sarkozywere willing to apply.

Portugal holds its first bondauction of the year next week,offering up to 1.25 billioneuros' worth of paper maturingin October 2014 and June2020.

"That auction will be veryclosely watched," the firstsource said. The yield of five-year Portuguese bonds on thesecondary market is 6.43 per-cent and 10-year paper tradesat 7.26 percent.

The five-year paper isalready above the cost of fund-ing that Portugal would getunder EU/IMF aid, the sourcesaid.

"They had a difficult weekon the markets," a third eurozone source said, referring tothe surge in yields onPortuguese T-bills at a primaryauction last week and second-ary market developments.

"The question is if they canraise what they need in the firsthalf of the year with issuanceat the longer end of the curve.Given the busy calendar in thefirst quarter it is a challenge,"the third source said.-Reuters

Portugal underpressure to seekIMF-EU bailout

LONDON: Scotland andChina signed a $10 millionrenewable energy technologylicensing deal on Sunday, theScottish government said, asChinese Vice Premier LiKeqiang began a four-day statevisit to Britain.

The contract will allow tech-nology pioneered in Scotlandto be used to generate powerfrom domestic rubbish at aplant in China, the governmentsaid in a statement.

Scottish First Minister AlexSalmond said the agreementwas sealed between Sino-Scots

firm Shanghai Huanuan Boilerand Vessel Co/Cochran andScotland-based W2EEngineering, experts in turningwaste into electrical energy viagasification.

The agreement will see W2Eproviding Shanghai Huananwith some $60 million worthof business per year for 10years, he said. The work willbe carried out in Annan,Dumfriesshire, and at a newfacility in China.

"China already has thelargest deployment of onshorerenewable technology and

Scotland is a world-leader inpioneering the technology andthe application of clean, greenenergy," Salmond said.

Shanghai Huanuan's chair-man said the deal would seethe creation of new greenpower stations built inScotland and in China.

Li, widely tipped to becomethe next Chinese premier, isdue to meet Prime MinisterDavid Cameron and other sen-ior government ministers dur-ing his visit to Britain, which isfocused on trade and businesslinks. -Reuters

Scotland-China sign$10mn energy deal

JUBA: Millions of jubilantsouth Sudanese started votingon Sunday in an independencereferendum expected to seetheir war-ravaged regionemerge as a new nation.

People queued for hours inthe burning sun outsidepolling stations in the south-ern capital Juba, where ban-ners described the week-longballot as a "Last March toFreedom" after decades ofcivil war and perceivedrepression by north Sudan.

"This is the moment the peo-ple of southern Sudan havebeen waiting for," Southernpresident Salva Kiir said aftercasting his ballot, urging peo-ple to be patient as they wait-ed to vote.

"I am voting for separation,"said Nhial Wier, a veteran ofthe north-south civil war thatled up to the vote. "This daymarks the end of my struggles.In the army I was fighting forfreedom. I was fighting forseparation."

Hours after voting started,the celebratory atmospherewas marred by reports of freshfighting between Arab nomadsand tribespeople associatedwith the south in the contestedAbyei region.

The referendum was prom-

ised in a 2005 peace deal thatended Africa's longest civilwar, fuelled by oil and ethnic-ity, between the mostlyMuslim north and the south,where most people followChristianity and traditionalbeliefs.

In the north, the prospect oflosing a quarter of the coun-try's land mass -- and thesource of most of its oil -- hasbeen greeted with resignationand some resentment.

Sudanese president OmarHassan al-Bashir, who cam-paigned for unity in the run-upto the vote, has been makingincreasingly conciliatory com-ments and this month prom-ised to join independence cel-ebrations, if that was the out-come.

President Barack Obamasaid on Saturday a peaceful,orderly referendum could helpput Sudan back on a pathtowards normal relations withthe United States after years ofsanctions.

In Juba, actor GeorgeClooney and U.S. SenatorJohn Kerry mingled withdancing and singing crowds.Voters waiting outside onepolling station burst into arendition of the hymn "This isthe day that the Lord has

made.""It is something to see peo-

ple actually voting for theirfreedom. That's not somethingyou see often in your life,"Clooney told Reuters.

SADNESS IN NORTHIn the north, many people

appeared to be resigned to theloss of South Sudan.

"We feel an incredible sad-ness that a ... very loved partof Sudan will separate fromus," said northern oppositionUmma Party official SaraNuqdullah.

"We must now work to reas-sure the northerners in thesouth and southerners in thenorth and the tribes in the bor-der zone that they will not beharmed," she said, breakingdown in tears.

The vote's organising com-mission told Reuters it haddefied gloomy forecasts ofdelays to deliver all votingmaterials on time for Sunday'sdeadline.

The logistical achievementshave not been matched bypolitical progress. Southernerswent to the polls withoutknowing the exact position oftheir border with the north orhow much of Sudan's debtthey would have to shoulderafter a split.-Reuters

Millions vote in South Sudan

independence poll

AL SHEGLA: A voter shows her inked finger and registration card after voting in SouthernSudan Referndum in Al Shegla, Omdurman. -Reuter

"A private bill tabled in National Assembly seeking amendmentin Blasphemy Law should immediately be withdrawn," hedemanded, urging president Asif Ali Zardari to dissolve commit-tee which had been formed earlier to deliberate on the procedureof sentence in accordance with Blasphemy Law.

Continued from page 12No #1

location with another individual," Sheriff Clarence Dupnik toldreporters, saying the gunman "has kind of a troubled past, andwe're not convinced that he acted alone."

Doctors said a bullet passed through Giffords' brain. Despite ini-tial media reports she had died, local television networks said lateSaturday she was awake in her hospital bed and recognized herhusband, NASA astronaut Mark Kelly."-Agencies

Continued from page 12No #2

According to the estimates, a locomotive of 3000 horse powergenerates up to Rs 60 million per annum against Rs50.5 millionby the one with 2000 horse power.

He said for maintenance purpose, the spare parts would beimported and 10 to 12 locomotives would be repaired each monthhoping that it would help a lot to minimize losses of this publicentity..-Agencies

Continued from page 1No #3

appeals before tea, was the first to go when he danced down thewicket to Rehman only to see the ball slide past his outside edgeand be stumped by Adnan Akmal for three. Brendon McCullumwas next to go, though he had could be considered unlucky whenhe was given out by umpire Rod Tucker for 35 when he wascaught by Akmal down the leg side off a Wahab delivery.Television replays, however, showed he had not hit the ball withthe delivery deflecting off his thigh pad.

Coincidentally McCullum was given not out in the first inningswhen replays suggested the ball had brushed his gloves.-Agencies

Continued from page 12No #4

The West led by the United States suspects that Iran's nuclearprogramme masks a weapons drive, a charge Tehran vehementlydenies. On November 23, Salehi had told state news agencyIRNA that Iran would produce the nuclear fuel required for aresearch reactor in Tehran by September 2011.

"By the month of Shahrivar next year (September 2011), we willproduce fuel for the reactor," said Salehi, who is also one of Iran'svice presidents. -Agencies

Continued from page 12No #5

supporting changes in a blasphemy law.Choosing Khosa, a close aide of President Asif Ali Zardari and

former Attorney General, could mean Zardari is seeking to cool

Continued from page 1No #6

said PML-N had always extended its support to PPP-led govern-ment for resolving public issues.

He expressed hope that the government would show progress in45 days. Furthermore, Prime Minister Gilani telephoned leadersof various political parties and took them into confidence overprevailing political situation in the country, media reported.

Gilani called MQM chief Altaf Hussain, PML-Q chiefChaudhry Shujaat Hussain, ANP leader Asfandyar Wali, JUI-FChief Maulana Fazlur Rehman, PML-F Chief Pir Pagara and oth-ers. According to sources, the Prime Minister exchanged viewsover political situation in the country besides taking them intoconfidence over the appointment of Punjab governor.

Gilani was of view that all the political leadership would betaken into confidence after consultation on major decision overnational issues. It is relevant to mention here that last week,Pakistan Muslim League (PML-N) chief Nawaz Sharif gave 72hours to PM Gilani government to give a categorical 'yes' or 'no'response to his stated charter of demands and another 45 days todeliver or face political liquidation. He also made it unequivocal-ly clear that in the event of the government's failure to deliver itwould be the time to seek a "fresh mandate" from the people.

The 10-point agenda, which Nawaz Sharif called a shorter agen-da, does not include the demand for trial of Pervez Musharrafunder Article 6 of the Constitution.

"We are excluding this demand from the shorter agenda becausewe feel it is out of government's capacity to do the same. I also donot want to give an impression of any personal grudges withMusharraf," Nawaz said. Announcing the immediate short termagenda for implementation by the Gilani government, the PML-Nchief demanded withdrawal of increase in petroleum prices,mechanism to control electricity and gas prices and load shedding,effective measures to control corruption, including ouster of cor-rupt ministers and corrupt officers from government departments,measures to provide relief to masses by checking the price hike.

Continued from page 1No #7

Special Saving Certificates (Reg) attracted Rs15.13 billion in5MFY11 compared to Rs38.2 inflow was witnessed during5MFY10. Similarly, Regular Income Certificates attracted netfresh investment of Rs16.77 billion against Rs19.72 billion inidentical period last year.

Furthermore, prize bonds attracted Rs11.85 billion againstRs13.45 billion in corresponding period last year.

Continued from page 1No #8

Moreover, domestic consumers have also turned to extreme usage of gas heaters and geyserscarelessly, which has threatened SNGPL transmission System, he said.

Excessive use of gas by domestic consumers has led to the complete suspension of supply tofactories and CNG stations for an indefinite period in Islamabad and Punjab, he added. -APP

Continued from page 1No #9

It may be recalled that Ms Meira Kumar had sent a message of greetings to the Prime Ministeron the eve of New Year. Matters of mutual interest were also discussed during the telephonicconversation. NNI

Continued from page 1No #10

biggest weekly selling was witnessed from local individuals, which offloaded $253.31 million ofshares in the local bourse against the buying of $238.3 million, thus turning the net selling worth of$15.01 million.Moreover, companies and mutual fund also joined local individual's trend as they netejected $11.21 million and $10.85 million respectively.

Continued from page 1No #11

China Friendship Centre. The function was held to welcome the 100-member youth delegationfrom China. Chinese ambassador Liu Jiang and officials of Pakistani ministry of culture were alsopresent. Mushahid said the Sino-Pak ties were only one of its kind due to three strategic reasons.This is a strategic, friction-free and model relationship between the two neighbours. He said theseties were distinguished due to the exceptional bonds between the peoples and governments of boththe friendly nations. "In a scenario when 21st century is an Asian century, China's rise as a worldgiant is a positive development for peace, stability and development in Asia. This is also moreimportant as the world's balance is shifting from the West to the East," he asserted. The foundingchairman of the first Pakistani think-tank on Sino, Pak ties further added that Pakistan ChinaInstitute (PCI) would play a lead role in celebrations of the completion of 60 years of Pakistan,China diplomatic relationship. He said the services of the institute would go a long way in har-nessing the people-to-people contacts between both the friendly countries. Besides the Chineseyouth delegation, hundreds of students from Roots School System (RSS) led by Director RSSFaisal Mushtaq, and from Beaconhouse School System also attended the function and had a directinteraction with the Chinese youth. On the occasion, Faisal Mushtaq said the RSS would launchthe first Chinese language classes in Pakistan in February 2011. He said the RSS had already hiredthe services of two leading Chinese instructors who would be arriving Pakistan soon. He said thiswould provide the Pakistani students an exclusive opportunity to learn the Chinese languagewhich would be the language of the modern age. -APP

Continued from page 1No #12

Sorouh Real Estate rose 1.2 per cent and Dana Gas added 1.3 per cent.Abu Dhabi's index ADI rose 0.4 per cent to 2,764 points.Qatar bluechips were mixed as the index QSI ended flat, equalling Thursday's 27-month high, but

further gains are forecast ahead of the country's massive infrastructure build-out leading up to the2022 soccer World Cup. Industries Qatar fell 0.9 per cent and Qatar National Bank dipped 0.5 percent. Commercial Bank of Qatar rose 1.3 per cent and Islamic lender Masraf Al Rayan added 1 percent.The index ended unchanged at 9,020 points, equalling Thursday's 27-month high.

Qatar was looking to spend some $100bn over the next five years, according to some estimates.Speculators bought into Transgulf Holding, helping Oman's index MSI edge up to a 26-month

high. Transgulf climbed 8.5 per cent and accounts for a fifth of all shares traded on the index, whichrose 0.3 per cent to 6,950 points, its highest finish since November 5, 2008.

Bank Muscat climbed 0.8 per cent to 1.017. -Agencies

Continued from page 5No #13

temperatures with Nawaz Sharif.Taseer was fiery and often clashed publicly with Sharif and his

brother, Punjab Chief Minister Shahbaz Sharif. Khosa, on theother hand, is soft-spoken and non-confrontational. But he is anardent supporter of the PPP.

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KARACHI: More than 40,000people rallied in Karachi onSunday against proposedamendments in blasphemylaws.

The massive rally, organisedby religious parties, wasaddressed by Jamat-e-Islamichief Syed Munawwar Hasan,Jamiat Ulema-e-Islam chiefMaulana Fazlur Rehman,Jamiat Ulema-e-Pakistan'sSahibzada Abul Khair Zubair,JI Karachi Amir MuhammadHussain Mehnati and others.

Describing the proposedamendments in blasphemy lawas foreign agenda, SyedMunawwar Hasan said the gov-ernment's move would be resis-ted at each forum.

He said the movement to pro-tect the law was completelypeaceful.

Maulana Fazlur Rehman,while addressing the publicgathering at Tibet Center, said"evil forces want their agendaimplemented in Pakistan to vio-late the blasphemy of Prophet(PBUH)".

Banners at the event includedsome supporting slain SalmanTaseer's presumed killer, policecommando Malik MumtazHussain Qadri, who has beenpraised by religious leaders.

"Mumtaz Qadri is not a mur-derer, he is a hero," said onebanner.

"We are ready to sacrifice ourlives for the dignity of theProphet Mohammad," readanother.

Activists at the rally, whichhas been organised by conser-vative religious groups, calledfor "Jihad" or holy war.

Two senior police officers inKarachi said more than 40,000protesters had joined the rallyand more were arriving, whilesenior police official IrshadSehar told media that more than30,000 people were taking part.

Meanwhile, Chief JUI-FMaulana Fazlur Rehman hasexpressed demand of with-drawal of the private bill thatwas tabled in NationalAssembly seeking amendmentin Blasphemy Law.

Fazal termed government'saction against religious institu-

tions and Madaris, allegedlylinked to the assassination ofSalman Taseer, as 'bad inten-tions' and 'nefarious designs'.

This he said to a press confer-ence here at a hotel after attend-ing a meeting of the leaders ofreligious parties on Tahaffuz-e-Namoos-e-Risalat organised byJUI-F.

Meeting was also attended byJI chief Syed MunawwarHassan, Sahabzada Abul KhairZubairi, Maulana HafeezJalandhari and others.

Later, talking to media,Maulana Fazl expressed hisintolerance over actions beingtaken by government againstreligious institutions andMadaris in connection withassassination of Salman Taseer,warning the latter againststrong reaction from people.

Citing the recent incidentsof violence in Karachi, helinked the incidents with aconspiracy being hatched todiscourage people who aim totake out rallies and hold con-ferences on Tahaffuz-e-Namoos-e-Risalat.

See # 1 Page 11

Thousands protestover blasphemylaw change move

Fazl calls for withdrawal of BL bill in NA

LAHORE: Punjab ChiefMinister Shahbaz Sharif spokeon Sunday regarding gas load-shedding in the province andsaid that the prime minister'sdirectives were not being fol-lowed.

He said that despite the prom-ises, Punjab was facing gasload-shedding three to fourdays a week, while there wasno such thing happening inother provinces.

Sharif expressed his sorrowover the killing of Punjab

Governor Salman Taseer andsaid that he hoped that the fed-eral government will soon get ajudicial inquiry of the assassi-nation from the Islamabad HighCourt.

Speaking to the media afterthe inauguration of a forensiclab in Lahore, Sharif said thatNawaz Sharif has given in anation-friendly agenda forPakistan. He said that this willbe announced after the ultima-tum given to the governmentcomes to an end. -Agencies

No respite fromgas-cuts: Shahbaz

Directives on gas load-shedding not being followed

ISLAMABAD: Thespokesman of PML-N,Siddique-al -Farooq has saidthat the deadline proposed byPML-N was final, warning thatin case government failed tocomply with PML-N's agenda,the party would seek the opin-ion of masses.

Talking to a Private TVChannel, he said that PML-Nhad tabled its agenda to mini-

mum, considering minimumcapabilities and benchmarkvalue of PPP, warning that fail-ure of incumbents to complywith the agenda would /couldforce PML-N to 'refer to masses'.

He warned that PML-N woulddisband its Punjab government,while the party was already outof federal government.

He made it categorically clearthat PML-N was least interest-

ed in portfolios, and it left thefederal government over princi-ples, as incumbents had failedto redress the grievances ofmasses, despite 3 years ofpower.

He said that since masseswere quite aware and mature,hence PML-N would notrequire much preparation forany forthcoming elections. -Online

45-day time-framefinal, says PML-N

TEHRAN: Atomic chief AliAkbar Salehi declared in areport that Iran is now capableof making its own nuclear fuelplates and rods, technology theWest says the Islamic republicdoes not possess.

Salehi, the driving force behindIran's contentious atomic pro-gramme, said the country hascompleted the construction of afacility in the central city ofIsfahan to the fuel plates and rodswhich power nuclear reactors.

"We have built an advancedmanufacturing unit in theIsfahan site for the fuel plates,"Salehi, who is also acting for-eign minister, told Fars newsagency in what was said to bean exclusive interview.

"A grand transformation hastaken place in the production of

(nuclear) plates and rods. Withthe completion of the unit inIsfahan, we are one of the fewcountries which can producefuel rods and fuel plates."

Salehi said it was the Westernpolicies towards the Islamicrepublic which had propelledits nuclear achievements,including the making of nuclearplates and rods.

"This is in fact because ofWest's actions that we came tothis point," he said.

"What we say is based onreality and truth. There is noexaggeration or deception inour work. It is them who do notwant to believe that Iran has nointention, but to obtain nucleartechnology for peaceful pur-poses."

See # 5 Page 11

Iran says it canproduce N-fuel

BEIJING: China's high infla-tion rate could continue welluntil the second or third quarterof this year, according to a sur-vey of 56 leading economists.

About 21 percent of the econ-omists surveyed said the cur-rent high inflation rate may lastuntil the third quarter, while 58percent of them said that infla-tion could ease by the secondquarter, the Beijing-basedEconomic Observer, a weeklynewspaper, reported Sundayciting the survey it conducted.

Also, 58 per cent of the econ-omists said inflation wouldremain high in the first quarterafter the consumer price index(CPI), the main gauge of infla-

tion, soared to a 28-month highof 5.1 per cent in Novemberlast year.

Economists from the ChinaJianyin Investment Securitiessaid in the survey that inflationcould well peak in June thisyear, at 6.3 per cent, but the CPIwould drop below 4 per centfrom October.

About 33 per cent of theeconomists believe risinginternational commodityprices and increasing foodprices at home will be the twomajor factors pushing theindex higher, while 28 percent see excessive liquidity inthe market as the main reasonfor the high inflation.-NNI

Survey says Chinainflation to last Q3

KABUL: Northern AtlanticTreaty Organisation (Nato) hasdecided to deploy AWACSradar planes to Afghanistan tocontrol aerial missions againstthe insurgents.

Nato military officialsbelieve that Airborne Warningand Control System Planes(AWACS) would greatly helpin troops' air strikes to targetmilitants.

The AWACS planes arebelieved to begin operation inAfghanistan in mid-January.

Officials in Afghan Ministryof Defence said the planeswould be part of war technolo-gies that could make it easy totarget militants.

"2011 is an important year,because it is the beginning ofsecurity transition to Afghans.So this importance has madethe foreign troops make use ofsome technologies in the war,"Defence MinistrySpokesperson, General ZaherAzimi said.

Analysts said AWACS radarplane is a state of the art warplane that could further help tomake the conflict wind downquickly.

The planes were planned tobe deployed to Afghanistan inJune, 2009 but it was delayeddue to difficulties in securingthe right to fly over some coun-tries.-NNI

Nato deploys radarjets to Afghanistan

KARACHI: A large number of the activists of Pakistani religious parties, listen to their leaders during Tahafuz Namoos Risalat (PBUH)

gathering and rally on M A Jinnah Road here on Sunday.-Online

1st Test Match

Pak thrashKiwis by 10 wkts

HAMILTON: Pakistan com-pleted a thumping 10-wicketvictory in the first test overNew Zealand inside three daysafter they had bowled the hostsout for just 110 in their secondinnings after the tea break.

The visitors had been given avictory target of just 19 runsafter they established a 92-runfirst innings lead earlier onSunday before left-arm spinnerAbdul Rehman was again theprinciple tormenter of NewZealand's batsmen, taking threewickets for 24 runs and creat-ing enormous pressure.

Rehman, who was namedman of the match, also com-bined magnificently with left-arm pace bowler Wahab Riaz,who ended with three for 38,while Umar Gul mopped up thetail to finish with three for 28.

Mohamam Hafeez andTaufeeq Umar then wrapped upthe victory in just 3.4 overs toguide the visitors to 21-0 and a1-0 lead in the two-matchseries. The second test beginsin Wellington next Saturday.

New Zealand had gone to teaat 33 for no loss, however theycrumbled after the break, losingseven wickets for 35 runs.

Tim McIntosh, who wasdropped by Taufeeq Umar atfirst slip off Umar Gul and sur-vived two confident lbw

See # 4 Page 11

US Senatorin critical

stateTUCSON: A US congress-woman was in critical condi-tion Sunday after being shot inthe head when a gunmanopened fire at a public event,killing six people in an attackthat shocked the nation.

Representative GabrielleGiffords, 40, a member ofPresident Barack Obama'sDemocratic Party, was meetingconstituents at a supermarket inTucson, Arizona, when theassailant unleashed a volley ofautomatic fire.

A nine-year-old girl and afederal judge were amongthose killed, and 12 others werewounded.

Obama called the attack a"tragedy for our entire coun-try." The House ofRepresentatives, which openedunder new Republican leader-ship just three days earlier,called off proceedings for theupcoming week.

Bystanders tackled down thegunman, identified as 22-year-old local resident Jared LeeLoughner. News reports said hehad filled the Internet withangry and largely incoherentcondemnations of the govern-ment, while the army said hehad tried to enlist but wasrejected.

A Loughner profile posted onYouTube listed Karl Marx andFriedrich Engels's "TheCommunist Manifesto" andAdolf Hitler's "Mein Kampf"among his favorite books.

"There's some reason tobelieve that he came to this

See # 2 Page 11

750MWplants

ready inPunjab

DASKA: 425-MW and 225-MW power stations have beenestablished at Nandipur,Gujranwala and Narowal dis-trict respectively. These powerplants would generate 750megawatts electricity thatwould help industry stand up.

In the first week of February,750 megawatts of power isgoing to be generated soon byNandipur, Gujranwala, andNarowal district power sta-tions.

Gepco is providing only 800-megawatts power to the con-sumers, with a short fall of 300megawatts in the region.

Gepco would get 135-MW ofelectricity through the twounder construction rentalpower stations in Sialkot.

The requirement of electricityin the region is 1100 megawattsfor more than 2.25 million con-sumers during this season.

Besides ensuring uninterrupt-ed supply of electricity to thelocal industries in Daska,Sambrial, Pasror, Gujranwala,Gujrat and Sialkot, power gen-eration would be helpful inminimizing load shedding inthe region. -Online

All Punjabbanks told topay pensionsRAWALPINDI: Followingthe orders of Supreme Courtof Pakistan to facilitate thepensioners, the FinanceDepartment, Punjab hasissued a letter for payment ofmonthly pension by all thecommercial banks.

Under the letter, pensioncould be paid from any branchof commercial banks.

According to a press releaseissued by the Punjab govern-ment here, the pensioners havebeen advised to contact withpension branch of the DistrictAccounts Office Rawalpindifor transfer of their pensionand other information.

It said that the concerned offi-cials would extend completecooperation and in case of anycomplaint, the pensionersshould contact with the adminis-tration of accounts office. -APP

5 gas wellsblown up in B'stan

SUI: Some unidentified mis-creants blew up some five nat-ural gas facilities in Dera Bugtidistrict of Balochistan onSunday morning.

According to a private televi-sion channel, some unknownmiscreants exploded at leastfive natural gas installations inTehsil Sui of the Dera Bugtidistrict, causing intense firewhich was being tackled by thelocal authorities.

After the incident, the securi-ty forces cordoned off all entryand exit routes of the Sui town.

Dera Bugti is homeland ofall Bugti tribes. Four naturalgas fields are working in thedistrict, and the gas is beingprovided all parts of thecountry. -NNI

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