International

PSM ex-chief indicted in corruption case See on Page 12

CJ says bench, bar cooperation inevitable See on Page 12

Nine Nato soldiers killed in copter crash See on Page 12

See on Page 12

ISLAMABAD: Former chiefIntelligence Bureau (IB) Brig(Retd) Imtiaz Ahmad and for-mer chairman Newtech andManaging Director OGDCLAdnan Khawaja have beenarrested from court room underthe orders of Supreme Court(SC) and sent to Adiala Jail inimplementation of NRO ver-dict case.

During the hearing of thecase, SC maintained that NROhad been declared void onDecember 16, and the sentenceterms of both the accused per-sons stand restored in accumu-lation of illegal assets case andtheir acquittal stand annulledautomatically in the light ofapex court decision.

The bails granted to themstand no more now, courtadded.

A 3-member bench of SCcomprising Justice Tariq

Parvez and Justice GhulamRabbani and presided over byChief Justice of PakistanIftikhar Muhammad Chaudhrytook up the case on implemen-tation of apex court decision onNRO for hearing.

Deputy Prosecutor General,NAB Raja Aamir Abbas toldthe court that Brig (Retd)

Imtiaz had been convicted andsentenced to 8 years imprison-ment and fined 7 million rupeeswhile Adnan Khawaja had beenawarded punishment of 2 yearsand fined Rs 200,000.

The court had also disquali-fied them for holding any pub-lic office for 10 years.

See # 13 Page 11

Imtiaz, Khawajacopped in court

NRO declared void so sentences stand resorted: SC

lNot arresting Khawaja tantamount to defying orders: SC

l PM chairs consultative meeting; vows to follow SC verdicts

UNITED NATIONS: Foreign Minister Shah Mehmood Qureshi speaks during the Millennium Development Goals Summit at the UN headquarters in New York.-Reuters

NEW YORK: ForeignMinister Shah MehmoodQureshi said Tuesday Pakistanwants economic growth inexchange of trade so he urgedgenerous nations to letPakistan have access to theirmarkets for his country's eco-nomic development, mediareported.

"We need trade more thanaid", Qureshi told attendees ofa forum.

Addressing a SocialistInternational Forum (SIF) inNew York, he said the govern-ment was trying to addresseconomic challenges beingsurfaced by worst ever floodsin the history of country.

He thanked internationalcommunity for its generoushelp and donations to deal withsuch a monstrous challenge.

Pakistani people have forgedunity among their ranks to helprehabilitate flood-ravaged peo-ple, he informed attendees.

He urged SIF forum toextend Pakistan access toEuropean markets, which hethinks should be the better wayto uplift shattering economy ofa flood-ravaged nation.

Qureshi also held one-on-onemeeting with Turk foreignminister to discuss issues per-taining to cooperation in sec-tors including agriculture andskilled education. -Agencies

Yes to trade,no to aid: FM

Qureshi addresses Socialist Int’l Forum

ISLAMABAD: Governmenthas decided to waive duty onraw sugar, AgricultureMinister Nazar MohammadGondal said Tuesday.

"We have taken a decision onwaiving the duty on the importof raw sugar," he told Reuters.

Talking to media here afterinaugurating second APSCOsymposium on 'Food Securityand Monitoring Agriculturethrough Satellite Technology'he said the timing and quantityof the duty waiver on rawsugar would be announcedsoon.

Opposing the increase inprice of wheat, he urged theprovinces to sell wheat on the

price they had purchased.Provinces should exhibitnational spirit. Right now therewas no need to increase flourprices.

He lauded the services ofPakistan Space and UpperAtmosphere ResearchCommission (SUPARCO) pro-vided during the recent flood-ing.

Earlier in his inaugurationaddress the minister speciallythanked the Asia Pacific SpaceCooperation Organisation(APSCO) for holding the sem-inar in collaboration withSuparco.

He expressed his satisfaction See # 15 Page 11

Import duty onraw sugar gone

Raza Baqar

KARACHI: Mutual Fundsindustry size declined by 1.4per cent MoM to Rs207.3 bil-lion in second month of fiscalyear 2010-2011 as compared toRs210.2 billion in July 2010,despite of four new funds havebeen launched in the month but

disappointedly they failed toincrease fund size as mutualfund industry asset under man-agement fell below Rs208 bil-lion.

The decline in asset sizegrowth was due to fall in assetclass value i.e. KSE 100-Indexdeclined by 6.71 per cent

See # 17 Page 11

MFs down 1.4pcin August MoM

Four new funds fail to add to industry size

Noticesserved on

OMCs overfuel shortageISLAMABAD: In the long-run,taking the notice of reportsregarding growing shortage offuel in country, the Oil and GasRegulatory Authority (OGRA)has served notices on the OilMarketing Companies (OMCs)due to their failure to ensureavailability of petrol and tomaintain prices at petrol pumps.

Initial inspections conductedby Ogra revealed that retail out-lets of some OMCs were inten-tionally involved in overcharg-ing and black-marketing ofpetrol and diesel by supplyingproducts to illegal sale points.

The Ogra has taken notice ofsuch malpractices and has decid-ed to take action against theOMCs/ petrol pump ownersinvolved in such activities.

The regulator has also writtento the chief secretaries of allprovinces to issue necessaryinstructions to the DCOs for astrict check on overcharging atpetrol outlets.

It has also asked the provincialdepartments to take stern actionagainst illegal outlets sellingpetrol on higher prices.

Talking to media on conditionof anonymity, an official of Ogra

See # 14 Page 11

ISLAMABAD: Minister forInformation and BroadcastingQamar Zaman Kaira has saidthat Prime Minister hasalready given instructions tothe concerned authorities tomobilise over Rs200 billionthrough cut in developmentand non-development expen-ditures.

Talking to newsmen hereTuesday, he said the provinceshave also been asked to do thesame and both the federal andprovincial governments aresharing the expenditure beingincurred on disbursement ofthe initial compensation of

twenty thousand rupees perflood affected family.

He said it is not the questionof donors telling us to mobiliseinternal resources as the gov-ernment was aware of the needto generate more revenues tomeet the challenge caused byfloods.

The Minister said the com-pensation amount would bedistributed transparently andjustly among the provinces.

He made it clear that the dis-tribution of assistance wouldbe proportionate to the dam-ages incurred by the provinces

See # 19 Page 11

Cut in allocation tomobilise Rs200bn

Govt decides to bite into uplift, non-uplift funds

ISLAMABAD: PrimeMinister Syed Yousuf RazaGilani terming the non-stateactors as major threat to worldpeace has stressed the need forunited efforts against theforces of conservatism andextremism, and promotinginterfaith dialogue and harmo-ny.

"World Peace Day remindsus of varying nature of chal-lenges and threats posed to theglobal peace.”

“The day serves as a clarioncall for us to identify the fac-tors that threaten peace andevolve strategies for counter-ing them".

"The major threat comesfrom the non-state actors whoare bent on dictating interna-tional agenda by employingvarious methods", Gilani saidin his message on the World

Peace Day.Given the magnitude of the

challenge, the Prime Ministersaid, "It must be our earnesteffort to close our ranks andput up a united front againstthe forces of conservatism andextremism".

"Peace is the essential mes-sage of every divine religion.We cannot and should notallow the non-state actors tohijack our religious beliefs",he added.

Meanwhile talking to agroup of MNAs who called onhim at his chamber PrimeMinister Gilani impressedupon the elected members toregularly visit their respectiveconstituencies particularly inthe flood ravaged areas toredress the problems of theaffected people.

See # 18 Page 11

Non-state actorsimperil peace: PM

Rehab begs elected representatives’ efforts

Jordanian air chiefcalls on Gen Kayani

*Crude Oil (brent)$/bbl 79.15

*Crude Oil (WTI)$/bbl 73.52

*Cotton $/lb 101.35

*Gold $/ozs 1,277.10

*Silver $/ozs 20.64

Malaysian Palm $ 843.10

GOLD (NCEL) PKR 35,338

KHI Cotton 40Kg PKR 7,770

*Last Updated 20:00 PST

Yearly(Jul, 2010 up to 20-Sep-2010)

Monthly(Sep, 2010 up to 20-Sep- 2010)

Daily (20-Sep-2010)

Total Portfolio Invest (9 Sep-2010)

43.06

-42.81

1.23

2337

0.65

-1.77

-1.29

1.05

0.36

0.63

0.36

SCRA(U.S $ in million)

Portfolio Investment

FIPI (21-Sep-2010)

Local Companies (21-Sept-2010)

Banks / DFI (21-Sept-2010)

Mutual Funds (21-Sept-2010)

NBFC (21-Sept-2010)

Local Investors (21-Sept-2010)

Other Organization (21-Sept-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (10-Sep-10)

Inflation CPI% (Jul 10-Aug 10)

Exports (Jul 10-Aug 10)

Imports (Jul 10-Aug 10)

Trade Balance (Jul 10-Aug 10)

Current A/C (Jul 10- Aug10)

Remittances (Jul 10-Aug 10)

Foreign Invest (Jul 10-Aug10)

Revenue (Jul 10-Aug10)

Foreign Debt (Jun 10)

Domestic Debt (Jul 10)

Repatriated Profit (Jul 10)

LSM Growth (Jul 09 - Jun 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.07bn

12.79%

$3.56bn

$6.25bn

$(2.69)bn

$(944)mn

$1.72bn

$267.10mn

Rs 185bn

$55.63bn

Rs 4705.4bn

$62.10mn

4.55%

4.10%

$1,051

170.59mn

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

17.00

2.00

1.70

9.78

PKR/Shares

111.46

145.76

42.87

36.44

33.54

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)

08-Sep-2010

08-Sep-2010

08-Sep-2010

30-Jul-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

21-Sep-2010

12.52%

12.66%

12.79%

13.00%

12.64%

12.75%

12.89%

13.22%

13.3%

13.34%

13.4%

13.54%

13.72%

13.84%

14.05%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 80.25 81.25

Canadian $ 82.50 83.50

Danish Krone 14.90 15.30

Euro 111.00 112.30

Hong Kong $ 10.90 11.30

Japanese Yen 0.987 1.012

Saudi Riyal 22.68 22.90

Singapore $ 63.55 64.55

Swedish Korona 12.00 12.50

Swiss Franc 84.80 85.80

U.A.E Dirham 23.20 23.40

UK Pound 133.10 134.80

US $ 85.75 86.05

Open Mkt Currency Rates

Index Close Change

KSE 100 9,992.50 -71.08

Nikkei 225 9,602.11 -23.98

Hang Seng 22,002.59 25.25

Sensex 30 20,001.55 95.45

ADX 2,637.76 6.20

SSE COMP. 2,591.55 2.84

FTSE 100

*Dow Jones

*Last Updated 20:00 PST

Global Indices

Symbols Buying Selling

TT Clean TT & OD

Australian $ 80.98 81.17

Canadian $ 83.21 83.41

Danish Krone 15.06 15.09

Euro 112.16 112.42

Hong Kong $ 11.04 11.06

Japanese Yen 1.000 1.002

Saudi Riyal 22.85 22.90

Singapore $ 64.29 64.44

Swedish Korona 12.31 12.34

Swiss Franc 85.33 85.53

U.A.E Dirham 23.33 23.39

UK Pound 133.49 133.81

US $ 85.74 85.92

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 33°C 20°C KARACHI 37°C 26°C LAHORE 33°C 24°C FAISALABAD 33°C 23°C QUETTA 29°C 7°C RAWALPINDI 38°C 22°C

Weather Forecast

ISLAMABAD: EconomicCoordination Committee ofthe Cabinet (ECC) here onTuesday agreed to provideagri-inputs including seedsand fertilisers to the farmersof floods-affected areas fornext Rabi season to providemaximum relief to them.

Committee, met here underthe chairmanship of FederalMinister for Finance DrAbdul Hafeez Shaikh, alsoreviewed the key economicindicators of the country.

Later, Secretary FinanceSalman Siddique briefed themedia about the decisions ofthe committee.

ECC, he said was informed

that about 70 per cent floodaffected areas would beready for cultivation for nextRabbi crops as the floodwater is receding in theseareas.

ECC was informed thataccording to initial estimatesabout Rs21.35 billion wasrequired for the cultivationof 3.5 million acres land inthe flood affected areas.

The Committee also autho-rised National FertilizerCompany to fulfill thedomestic needs of the agri-input and was informed thatabout 260,000 bags of 50-kgavailable with NFC to meetdomestic need.

The meeting also discussedthe indicative price of wheatfor 2010-11 and allowed theprovinces to determine theindicative prices of wheat.

The ECC has withdrawnregulatory duty on theimport of raw sugar andTrading Corporation ofPakistan (TCP) wouldhenceforth not import rawsugar rather the governmenthas allowed the private sec-tor to import raw sugar with-out any limitation of quanti-ty and time.

It was decided that TCPwould auction 50,000 metrictons sugar for the privatesector. -APP

Bailout agreed forflood-hit growers

Agri-input package for devastated farmers gets ECC go-ahead

Reopening of NRO cases

Secy Law directed to report in 3 days

ISLAMABAD: Supreme Court of Pakistan Tuesday directedSecretary Ministry of Law and Justice to prepare a fresh summa-ry within three-days regarding implementation of its verdict onNational Reconciliation Ordinance and submit it to PrimeMinister.

A three-member bench comprising Chief Justice IftikharMuhammad Chaudhry, Justice Tariq Parvez See # 12 Page 11

MD PSOassures to

smooth fuelsupply in 48hrsLAHORE: Managing DirectorPakistan State Oil (PSO) IrfanQureshi Tuesday said that thesupply of petrol has started inmost parts of the country and thesituation would become normalwithin the next 48 hours.

Addressing a press conferencehere, MD PSO stated that thepetroleum crisis was started dueto the shut down of Pak ArabRefinery Company (PARCO),damages of road networks afterheavy floods across the country,Eid holidays and the tense situa-tion in Karachi from where theimported oil was to supply to therefineries.

He said that after a suspensionof 43 days, the Parco started itsoperation Monday and it wouldstart 100 per cent productionfrom Wednesday (today) afterthat the supplies would be

See # 16 Page 11

US envoymeets

ZardariISLAMABAD: President AsifAli Zardari Tuesday met USambassador Anne W Pattersonat the Presidency to discusshost of issues with specialfocus on flood affectees.

President thanked US ambas-sador for helping and support-ing Pakistan when it neededthe most besides USGovernment overwhelming

See # 21 Page 11

Drone killsmore in

SWASOUTH WAZIRISTAN:Eight terrorists were killed inUS drone missiles attack on avehicle in Jandola area of SouthWaziristan bordering withAfghanistan on Tuesday.

See # 20 Page 11

Karachi, Wednesday, September 22, 2010, Shawwal 12, Price Rs12 Pages 12

Govt borrows

Rs216 billion

in 10 weeksAamir Abidi

KARACHI: The government'sborrowing from the centralbank surged 145 per cent toRs216 billion in ten weeks tillthe week ended on September9, 2010 from Rs88.2 billion in ayear-ago period.

As per details available, bor-rowing by federal government'sfrom State Bank of Pakistanballooned by 235 per cent toRs231 billion in above men-tioned period against Rs69 bor-rowed in same period last year.

On the other hand, provincialgovernments cumulatively paid

See # 22 Page 11

2 Wednesday, September 22, 2010

TV PROGRAMMES

WEDNESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere

Maya ke Sath

11:00 News

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With

Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With

Jasmeen

23:00 News

23:30 24

KARACHI: Women arethe heart of any societyand therefore it is of para-mount importance to haveeducated mothers, this wasthe moto in the mind ofPakistan's premier indus-trialists Ahmed Dawoodwho began Dawood PublicSchool (DPS) 26 yearsback as a philanthropicventure of the DawoodGroup.

Ahmed Dawood whobelieved that the root ofPakistan's political, eco-

nomic and social problemslie in the appalling lack ofliteracy amongst its femalepopulation.

DPS now provides quali-ty education to approxi-mately 1600 female stu-dents from the age of twoand a half up to 16 aftercompleting their O levels.The School is known tohave an excellent academ-ic record, with a 100 percent pass rate and at leastone national/internationalaccolade every year.-PR

DPS stresses ongirls education

KARACHI: Dawlance iscelebrating 'Jeet ka Josh'fifth time in a row. In thisyear's scheme 'Jeet ka Josh5' which started from 1stSeptember a large numberof dealers are participatingfrom all over the countryto win thousands ofassured prizes worth morethan Rs80 million.

Speaking about 'Jeet kaJosh 5', Dawlance repre-sentative said, "'Jeet kaJosh' has received much

appreciation from all ourdealers which is why wecelebrate it every year as abig annual event. Through'Jeet ka Josh', we acknowl-edge the efforts made byour dealers in promotingDawlance product range."

The exciting gift rangeincludes a trip to Bali andMalaysia, Honda City,Suzuki Mehran, SuzukiCultus besides DawlanceMicrowave Ovens andRefrigerators.-PR

Dawlance fetes‘Jeet ka Josh 5’

LAHORE: Pakistan StateOil (PSO) imported threevessels of Mogas, (approx40K MTS each) out ofwhich two have been dis-charged," highlighted PSOManaging Director, IrfanQureshi, at a conferencehere on Tuesday.

PSO took this actionkeeping in view thePARCO shut-down.Quoting the reason forshortage of petrol, IrfanQureshi stated that recentfloods have caused damageto roads due to which trans-portation from PARCO was

badly affected resulting inshut down of PARCO refin-ery rendering it non-opera-tional for 43 days. In addi-tion to this, CNG load-shed-ding further exacerbated thesituation in the province.

Even in the face of theseexternal factors, PSO main-tained adequate stock levelat its depots and terminals(as per govt directives to allOMCs). PSO carried onwith operations at all itslocations round-the-clock toaddress the shortage, PSOManaging Director furthertold.-PR

PSO workinghard to carry

out oil supply

I S L A M A B A D :Intertextile ShanghaiApparel Fabrics will offera comprehensive seminarprogramme in October atShanghai NewInternational Expo Centre,with topics ranging fromaccessories and trims tipsto design and trends aswell as market informa-tion, said a statementissued here.

The programme isscheduled to take place forthree days from October19 and will be held in tan-

dem with the trade fair.Several new themes willbe discussed on-site withfull day of "Design &Trend" seminars on 21October.

Apart from the new pro-gramme offered, severalmore informative discus-sions will be held from 20- 21 October, rangingfrom: Design & Trend,Market Information andBusiness Strategies,Technology and Solutions,Certification and Testingsand legal issues.-Online

China textile tobe held in Oct

KARACHI: Pakistan isgoing through someextremely tough and diffi-cult times and Germany isinterested in helpingPakistan through these dif-ficult times. This was saidby the German ConsulGeneral in Karachi DrChristian Brecht at areception held in honour of

a visiting German businessdelegation.

The German ConsulGeneral said that the feder-al republic was keen tohelp Pakistan through theconcept of increasing tradeas said so often byPresident Zardari. A 28-member German businessdelegation visited Karachi

as part of a familiarizationtrip to Pakistan.

He informed the visitingdelegation that Karachi wasa very important businesshub of Pakistan. He saidthat Karachi generated 65per cent of the tax revenueand more than 35 per centof the GDP of the country.He also said that it was amajor industrial centre andhosted tens of thousands ofindustries ranging from tex-tile, leather, manufacturing,and the country's largeststeel mill. It was also themajor port of the country.

The German consul gen-eral thanked PresidentPakistan German BusinessFoundation (PGBF)Saifuddin Zoomkawala fororganising the delgation'svisit to Pakistan andwished the delegation suc-cess in its visit to the restof the country.-PR

Germany keen to enhancetrade ties, says envoy

Staff Correspondent

KARACHI: Due to cur-rent wave of target killingspree and worst law andorder situation over 80 percent business of majortrading centers across cityis ruined causing Rs1.5 toRs2 billion daily loss forc-ing traders to migrate torelatively safe businesscenters of Pakistan.

This was disclosed bythe Chairman All KarachiTajir Ittehad (AKTI) AteeqMir while presiding anemergent meeting of thetraders at the ArambaghFurniture Market onTuesday.

He alleged that due tonon serious attitude by theGovernment city businessis drifting to a stand stilland during the Eid seasonfinished products worth

Rs30 billion remainedunsold resulting in massiveblockage of working capi-tal of the businessmen.

He said that due to thedownward trend of busi-ness the owners are forcedto retrench over 25 percent of sales force and nowthe situation has gone soworse that now they areeven not able to pay theirutility bills and overheadexpenses. He stronglyurged the Government totake immediate punitiveaction against those cul-prits engaged in targetkilling and restore law andorder so that the situationcan normalise.

Those who attended themeeting included AnsarBaig Qadri, Jamil AhmedParacha, Zeeshan Falafi,Haji Hamesh Gul, SyedSharafat Ali and others.

Target killingshurting business

ISLAMABAD: Law min-ister Babar Awan said gov-ernment had no objectionover it and the bill bereferred to the committeefor further consideration. IfPML-N wanted to institutetreason case against formerpresident PervezMusharraf then govern-ment would support it, headded.

Amendment bill on hightreason act 1973 tabled byPML-N in NationalAssembly (NA) has beenreferred to respective com-mittee while amendmentbill in respect of section489 of Pakistan Penal Code1860 has been rejected

being opposed by PML-N.Presenting the

Amendment Bill 2010 inhigh treason act-1973 inthe house Tuesday on pri-vate members day, PML-Nlegislator, engineerKhurram Dastgir Khansaid this amendment couldbring a change in the polit-ical scenario of the coun-try. Parliament passed hightreason act in 1973 underwhich the powers for insti-tution of treason caseagainst those indulged inhigh treason rested with thefederal government. It waslaid down in section 3 thatonly federal governmenthad authority to register

high treason case and anyother province or agencycould not do so. This needsto be changed, he stressed.

He went on to say that ithad been proposed in thissection that any citizen ofthe country could file hightreason case in high court.

Nasir Bhutta of PML-Npresented amendment billin section 489-F ofPakistan Penal Code-1860and law minister BabarAwan supported it.However when the speakersolicited opinion of thehouse on this bill thenmajority of PML-N mem-bers opposed it and billwas rejected.-Online

Govt to support 'N'if it backs case

against Musharraf

Jamil Siddiqui

KARACHI: PresidentKarachi Chamber ofCommerce and Industry(KCCI), Abdul Majid HajiMuhammed has offeredPakistan ElectricalEngineers to sign an MOUfor joint efforts in order tobring Pakistan out of pres-ent economic crises.

While addressing aschief guest at the inaugu-ral session of the 3 dayElectrotrade 2010 atKarachi Expo Center, onTuesday he said that withpublic private partnershipthe solutions of the ener-gy, flood, law and orderand other crises can befound. Commending theholding of first ever andunique exhibition by theInstitute of Electrical

Engineers Pakistan hesaid that it is a learningplatform for all the stakeholders and to catalystnew inventions bearingpositive impact onPakistani economy.

Earlier in his openingremarks the ConvenerElectroFair 2010 M IrfanShaikh said that the exhi-bition is showcasing thelocal latest innovations ofPakistani ElectricalEngineers.

He said that IEEP is theleading professional body ofthe country to promote skillsthrough dissemination ofknowledge with Seminarsand exhibitions and is mostimportant platform for allthe stake holders.

On this occasionChairman IEEEP KarachiCenter Engineer Tahir

Salim said that his organi-zation is holding technicalseminars on current issuesonce each month and saidthat keeping in view of theacute energy crises andAlternate Energy is thebest option IEEEP isready to cooperate the pri-vate sector to bring newideas and innovations tosteer out of the energydilemma.

The inaugural sessionwas attended byExecutive Director Events& ConferencesInternational ShaikhJamaluddin, DirectorEvents & ConferencesInternational S. AtherJawed Saifee, VicePresident South IEEEPEngineer S A Jafri andhead of marketingMohammed Khalid Khan.

3-day Electrotrade expo inaugurated

KCCI topartner with Pak

Electrical Engineers

K A R A C H I / I S L A M -

ABAD: Federal InteriorMinister, Rehman Maliksaid on Tuesday that lawenforcement agenciesshould change theirstrategy to curb terror-ism.

Malik was talking tothe media outside theParliament House. Heasked Shia scholars toremain calm as heblamed the enemies ofthe state for wanting tocreate conflict betweenShias and Sunnis.

Rehman also said thatscholars should learnlessons from the situa-tion in Quetta, Lahore,

Peshawar and Karachi.Replying to a question

about the killed leader ofMQM, Rehman said thathe was in contact withMQM 90 office and wasready to help if request-ed.

Meanwhile the newCapital City PoliceOfficer (CCPO) Karachi,Fayyaz Leghari, calledon Sindh Chief Minister,Syed Qaim Ali Shah, atthe CM House here onTuesday.

An official statementsaid that he sought guid-ance from the chief min-ister regarding the pro-fessional duties.

Syed Qaim Ali Shahurged the CCPO Karachito do his best for themaintenance of law andorder in the metropolisand that the law beenforced without anydistinction.

He directed that effec-tive action be takenagainst miscreants andanti-social elements andthey be brought to book.

The chief minister saidthat under a joint strate-gy the administrationand the law enforcementagencies should ensurethe protection of livesand property of the peo-ple.-Agencies

CCPO Karachi calls on Qaim

Law enforcersshould changestrategy: Malik

WEDNESDAYTime Programmes

Time Programs

8:00 Pakistan Aaj Raat

9:00 News

9:02 Pehla Sauda

10:00 News

10:15 Bazaar

11:00 News

11:05 Ghar Ka Kharch

12:00 News

12:05 Bara ka Para

12:30 Mang Raha Hay

Pakistan

13:30 Akhri Suada

14:00 News

14:15 Power Hour

15:05 Islam or Karobar

15:30 Agri Business

16:30 Bazaar

17:00 News

17:05 Ghar Ka Kharch

18:05 Pegham-e-Islam

19:00 News

19:05 Islam Aur Karobar

19:30 Karobari Dunya

20:00 Headlines

20:05 Islamabad Say

21:00 Pakistan Aaj Raat

22:05 Doosra Pehlu

23:00 News

Teamsformed to

check petrolscarcity

ISLAMABAD: Ministryof Petroleum has consti-tuted teams to monitorblack marketing of petro-leum products in thecountry that has beentasked to raid at differentpetrol pumps to checkquality and prices ofpetrol amid prevailingsevere scarcity of petrolin the country.

According to detailsMinister for Petroleumheaded a meeting hereTuesday to review pre-vailing scarcity of petrolin the country and avail-ability of petrol in thecountry and directed toconstitute raiding com-mittees to check prices ofpetrol in the country ascomplaints have beenreceiving related to blackmarketing of the petrolacross the country.

The meeting was alsobriefed that Parco, Attockoil refinery and NationalOil refinery were produc-ing oil according to theneeds of the country. -Agencies

Gas loadsheddingfrom Nov

PESHAWAR: In view of900 million cubic of short-fall Sui Northern Gas decid-ed to start gas load-sheddingfrom November 1 instead ofDecember and it would con-tinue till 15 March.

Schedule has been pre-pared for five months ofsevere load-shading inwinter.

New CNG stations andsupply of new gas connec-tions are being banned inKhyber-Pakhtunkhwa.

According to the SuiNorthern Gas spokesper-son (SNG) this step hasbeen taken due to short-fall of gas, according tohim supply of gas to CNGstations and industrialsector will be for threedays in a week, domesticuser will also be affectedfrom it. -Agencies

PHMAelects office

bearers KARACHI: ZonalCommittee of PakistanHosiery Manufacturers &Exporters Association(PHMA) unanimouslyelected Junaid EsmailMakda as Chairman; IrfanZ Bawany as Senior Vice-Chairman and ShabbirBilwani as Vice-Chairman,PHMA Southern Zone forthe period 2010-2011.These Office Bearers wereelected unopposed

Promising to sincerelyand dedicatedly serve theassociation and theknitwear and hosiery indus-try in promptly resolvingthe issues and problems,Juniad Makda, said that, hewas grateful to JawedBilwani, Chief Coordinatorand Leader of the ExportDevelopment Gourp and allits members who had theconfidence in him andchose him as Chairman.

He said that while theprevious team headed byAkhtar Yunus has donecommendable work andwith the best efforts of ourleader and entire team,PHMA had become theleading and most promi-nent Association.-PR

CIPE mooton 23rd

KARACHI: CIPE will beorganising an interactivesession titled "Sustainabilityand Wealth CreatingThrough CorporateGovernance" in collabora-tion with Chairman,Banking & Insurance Sub-Committee of KarachiChamber of Commerce &Industry Ateeq-ur-Rehman,on Thursday (Sept 23) at alocal hotel here.

Focus of this session is tohelp companies to under-stand how sustainability andwealth creating could beattained through effectiveCorporate Governance.-PR

MUZAFFARGARH: MD/CEO MOL Pakistan, János Feher handing-over therelief goods to Commander Corps Logistics-Brig Masood Ahmad for the flood

victims of Muzaffargarh.-PR

KARACHI: President Karachi Chamber of commerce and Industry (KCCI) AbdulMajid Haji Mohammed addressing during the inaugural session of the 3-day

Electrotrade 2010 exhibition held at Karachi Expo Centre.-Photo by Jamil Siddiqui

KARACHI: German Consul General Karachi Dr ChristianBrecht, is seen with a German business delegation

currently visiting Pakistan to explore trade avenues.-PR

ISLAMABAD: members of Pakistan Computer Association presenting a cheque of10,000 pounds to PM Syed Yousuf Raza Gilani Raza for flood affectees.-PR

MUMBAI: Tactical dollar buy-ing by oil firms and importersdragged the Indian rupee lowerfrom a four-month high onTuesday, but gains in domesticshares and broad dollar weak-ness underpinned sentiment.

Oil refiners are the biggestbuyers of dollars in the domes-tic foreign exchange market andtheir demand usually picks uptowards the end of each monthwhen they make payments.

The partially convertiblerupee closed at 45.67/68 perdollar, after hitting 45.49, itshighest since May 14 and mar-ginally stronger than Monday's45.70/71 close.

Attracted by the country'srobust economy, overseasinvestors purchased $3.3 bil-lion of Indian equities so far inSeptember, taking net invest-ment this year to $16.2 billion.

At the day's high, the rupeewas up 3.5 per cent so far in themonth and had gained 2.3 per

cent in 2010. One-month offshore non-

deliverable forward contractswere quoted at 45.83, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, MCX-SX and theUnited Stock Exchange closedat 45.7250, 45.72 and 45.72,respectively, with the totaltraded volume on the threeexchanges at about $8.9 bil-lion. -Reuters

Indian rupee off highsas importers buy USD

3Wednesday, September 22, 2010

Currency Rates

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 21/09/2010

A USD GBP CAD EUR JPY

O/N 0.22788 0.54875 1.04500 0.38938 SN 0.10375

1WK 0.25025 0.55078 1.05833 0.45625 0.11625

2WK 0.25181 0.55563 1.08500 0.50750 0.12625

1MO 0.25625 0.57000 1.11083 0.57688 0.14063

2MO 0.27313 0.62406 1.17833 0.67375 0.17500

3MO 0.28969 0.73188 1.24167 0.82875 0.22000

4MO 0.34625 0.81734 1.30000 0.91875 0.30875

5MO 0.41313 0.92484 1.35500 1.01063 0.36750

6MO 0.47313 1.02938 1.42167 1.11250 0.42750

7MO 0.52500 1.10469 1.48667 1.16375 0.48563

8MO 0.57350 1.18469 1.57000 1.21438 0.53000

9MO 0.62531 1.26531 1.65333 1.26719 0.58063

10MO 0.67750 1.34125 1.72833 1.31500 0.60750

11MO 0.73188 1.41000 1.83500 1.36125 0.63438

12MO 0.79338 1.47438 1.93500 1.40719 0.66375

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

U.S.A. 85.90 85.70 85.52U.K. 133.81 133.49 133.19EURO 112.42 112.16 111.91CANADA 83.41 83.21 82.99SWITZERLAND 85.53 85.33 85.11AUSTRALIA 81.17 80.98 80.77SWEDEN 12.34 12.31 12.28JAPAN 1.00 1.00 1.00NORWAY 14.20 14.16 14.13SINGAPORE 64.44 64.29 64.12DENMARK 15.09 15.06 15.02SAUDI ARABIA 22.90 22.85 22.79HONG KONG 11.06 11.04 11.01CHINA 12.81 12.78 12.75KUWAIT 299.56 298.87 298.08MALAYSIA 27.70 27.63 27.56NEW ZEALAND 62.52 62.37 62.21QATAR 23.60 23.54 23.48U.A.E. 23.39 23.33 23.27KR WON 0.07 0.07 0.07THAILAND 2.79 2.79 2.78

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3132 1.3134 1.3149 1.3064

EUR-GBP 0.8444 0.8447 0.8468 0.8390

EUR-CHF 1.3197 1.3201 1.3211 1.3117

EUR-JPY 112.1 112.12 112.54 111.48

USD-CHF 1.0049 1.0053 1.0072 1.0018

USD-CAD 1.0299 1.0304 1.0329 1.0280

GBP-USD 1.5545 1.5549 1.5586 1.5507

GBP-JPY 132.69 132.73 133.41 132.43

AUD-USD 0.9471 0.9475 0.9501 0.9447

EUR-CAD 1.3527 1.3533 1.3555 1.3432

CHF-JPY 84.89 84.95 85.43 84.95

Gold 1272.61 1273.36 1281.55 1272.38

Silver 20.61 20.64 20.90 20.57

As per 22.00 PST

Time Source Events Forecast Previous

3:45 NZD Current Account -0.19B 0.18B

All Day CNY Bank Holiday

9:30 JPY All Industries Activity m/m 1.1% 0.1%

13:30 GBP MPC Meeting Minutes 1-0-8 1-0-8

14:00 EUR Industrial New Orders m/m -1.2% 2.5%

17:30 CAD Core Retail Sales m/m 0.4% -0.5%

17:30 CAD Leading Index m/m 0.5% 0.4%

17:30 CAD Retail Sales m/m 0.5% 0.1%

18:00 EUR Belgium NBB Business Climate -5.0 -5.1

19:30 USD Crude Oil Inventories -1.5M -2.5M

Source Events Actual Forecast Previous

CHF Trade Balance 0.57B 1.97B 2.84B

GBP Public Sector Net Borrowing 15.3B 12.3B 2.0B

CAD Core CPI m/m 0.1% 0.1% -0.1%

CAD CPI m/m -0.1% 0.0% 0.5%

USD Building Permits 0.57M 0.56M 0.56M

USD Housing Starts 0.60M 0.55M 0.54M

USD Federal Funds Rate <0.25% <0.25%

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Oct 19 2010 Sep 08 2010 1%

Bank of England Oct 07 2010 Mar 05 2009 0.50%

European Central Bank Oct 07 2010 May 07 2009 1%

Federal Reserve Sep 21 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

The Reserve Bank of Australia n/a May 04 2010 4.50%

Bank of Japan n/a Dec 19 2008 0.10%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, September 21,2010 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

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

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

ABPL 11.50 12.00 11.60 12.10 12.10 12.60 12.45 12.70 12.50 12.75 12.75 13.25 12.90 13.40 13.25 13.75

ABLN 11.50 12.00 11.75 12.25 12.10 12.60 12.55 12.80 12.70 12.95 12.80 13.30 12.95 13.45 13.00 13.50

JSBL 11.60 12.10 11.80 12.30 12.25 12.75 12.60 12.85 12.70 12.95 12.70 13.20 12.70 13.20 12.90 13.40

ASPK 11.60 12.10 11.80 12.30 12.10 12.60 12.50 12.75 12.60 12.85 12.70 13.20 12.75 13.25 12.90 13.40

CIPK 11.70 12.20 11.90 12.40 12.15 12.65 12.40 12.65 12.60 12.85 12.70 13.20 12.90 13.40 13.05 13.55

DBPK 11.40 11.90 11.70 12.20 12.10 12.60 12.40 12.65 12.60 12.85 12.65 13.15 12.70 13.20 12.80 13.30

FBPK 11.50 12.00 11.75 12.25 12.00 12.50 12.50 12.75 12.60 12.85 12.65 13.15 12.70 13.20 12.95 13.45

FLAH 11.50 12.00 11.80 12.30 12.15 12.65 12.50 12.75 12.65 12.90 12.70 13.20 12.80 13.30 12.95 13.45

HBPK 11.45 11.95 11.70 12.20 12.10 12.60 12.50 12.75 12.65 12.90 12.75 13.25 12.80 13.30 12.95 13.45

HKBP 11.65 12.15 11.80 12.30 12.15 12.65 12.50 12.75 12.65 12.90 12.70 13.20 12.75 13.25 12.90 13.40

N I PK 11.50 12.00 12.00 12.50 12.55 13.05 12.85 13.10 12.95 13.20 13.00 13.50 13.10 13.60 13.20 13.70

HMBP 11.75 12.25 11.90 12.40 12.25 12.75 12.65 12.90 12.80 13.05 12.85 13.35 12.85 13.35 12.90 13.40

SAMB 11.50 12.00 11.80 12.30 12.10 12.60 12.55 12.80 12.65 12.90 12.75 13.25 12.85 13.35 12.95 13.45

MCBK 11.80 12.30 11.90 12.40 12.25 12.75 12.40 12.65 12.55 12.80 12.60 13.10 12.70 13.20 12.95 13.45

NBPK 11.25 11.75 11.75 12.25 11.85 12.35 12.50 12.75 12.65 12.90 12.80 13.30 12.90 13.40 13.00 13.50

SCPK 11.50 12.00 11.80 12.30 12.15 12.65 12.40 12.65 12.55 12.80 12.60 13.10 12.70 13.20 12.90 13.40

UBPL 11.50 12.00 11.75 12.25 12.15 12.65 12.50 12.75 12.65 12.90 12.70 13.20 12.80 13.30 12.95 13.45

AVE 11.53 12.03 11.79 12.29 12.14 12.64 12.50 12.75 12.64 12.89 12.72 13.22 12.80 13.30 12.95 13.45

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)21/09/2010

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

1 week 0.52 0.91 0.54 0.95 0.98 -0.78 0.28 0.421 month 0.48 0.76 0.53 0.87 0.85 0.29 -0.47 -0.303 months -0.02 0.87 0.59 0.51 0.24 0.39 -0.50 0.336 months 0.51 0.80 0.90 0.74 0.03 0.18 -0.79 0.061 year 0.45 0.93 0.91 0.93 0.72 0.50 0.19 -0.492 years -0.02 0.81 0.18 0.77 0.66 0.02 0.05 -0.16

Currencies CorrelationEUR/JPY

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 11.75 11.75 11.70 11.90 11.50 11.85 11.74

8-15dys 12.00 12.10 11.90 12.00 11.90 12.05 11.99

16-30dys 12.25 12.20 12.10 12.35 12.20 12.20 12.22

31-60dys 12.40 12.55 12.20 12.50 12.48 12.40 12.42

61-90dys 12.55 12.55 12.50 12.65 12.60 12.55 12.57

91-120dys 12.65 12.70 12.65 12.78 12.70 12.65 12.69

121-180dys 12.75 12.85 12.75 12.87 12.78 12.75 12.79

181-270dys 12.85 12.90 12.85 12.93 12.85 12.85 12.87

271-365dys 12.90 12.90 12.87 12.98 12.90 12.90 12.91

2-- years 13.10 13.25 13.25 13.20 13.30 13.25 13.23

3-- years 13.20 13.40 13.35 13.35 13.39 13.35 13.34

4-- years 13.25 13.45 13.37 13.40 13.42 13.37 13.38

5-- years 13.25 13.45 13.40 13.45 13.45 13.40 13.40

6-- years 13.30 13.50 13.44 13.48 13.50 13.44 13.44

7-- years 13.30 13.50 13.45 13.48 13.53 13.45 13.45

8-- years 13.35 13.60 13.45 13.50 13.53 13.45 13.48

9-- years 13.35 13.60 13.50 13.52 13.55 13.50 13.50

10--years 13.40 13.58 13.55 13.55 13.58 13.55 13.54

15--years 13.60 13.75 13.70 13.90 13.65 13.70 13.72

20--years 13.75 13.90 13.80 14.00 13.80 13.80 13.84

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for September 21, 2010

NEW YORK: The euro roseagainst the dollar on Tuesday,helped by solid demand at salesof euro-zone debt, while expec-tations that the US FederalReserve may consider addition-al monetary easing weighed onthe greenback.

Irish, Greek and Spanish gov-ernment debt auctions attracteddecent demand, easing con-cerns about whether the euro-zone's highly indebted coun-tries can obtain the fundingthey need.

Few expect the Fed, which isholding a regular policy meet-ing on Tuesday, to apply anoth-er dose of quantitative easingwhen it announces its decisionat 1815 GMT. The accompany-ing statement, however, isexpected to be dovish due torecent evidence of a weakeningeconomy.

"Well-received debt auctionsfrom the peripheral euro area

countries of Ireland, Greeceand Spain spurred bullishmomentum in the euro, drivingit almost 90 pips higher," saidDan Cook, a senior market ana-lyst at IG Markets in Chicago.

"(But) so much of the remain-der of today's action hinges onthe FOMC," he added. "Whileno additional quantitative eas-ing measures are expected, thelanguage in the statement alonecould cause large swings in thecurrency market."

In late morning trading inNew York, the euro was up 0.5per cent at $1.3129. On Fridaythe single currency hit its high-

est since Aug. 11 at $1.3159,according to Reuters data.

As long as the euro holdsabove the $1.3030 area, sometechnical analysts see its Aug. 6high of $1.3334 as an upside

target. But it has to first breachtechnical resistance at its 200-day moving average, whichcomes in at about $1.3220.

The dollar index was down0.4 per cent at 81.005.

In the United States, the dol-lar briefly pared losses againstthe yen after a report showedhousing starts increased morethan expected in August.

Despite the improvement in

the data, analysts said it is stilltoo early to declare it a mean-ingful improvement in thehousing sector.

Fear of more intervention byJapanese authorities to curb yengains limited the greenback'slosses. The dollar was last 0.4per cent lower at 85.35 yen,with traders reporting stop lossorders around 85.20 yen.

The dollar has failed to climbabove its post-intervention highof 85.94 yen set last Friday onthe EBS trading platform,capped by Japanese exportersselling ahead of their half-yearbook-closing on Sept. 30.

In other trading, theAustralian dollar rose above 95US cents for the first time sinceJuly 30, 2008 after the country'scentral bank chief suggestedAustralian interest rates wouldrise further. It was last littlechanged at 0.9477 after peakingat 0.9501. -Reuters

Debt sales help euro;dollar falls before Fed

SHANGHAI/HONG KONG:The yuan extended a rally onTuesday to nine days, risingthe most in that period sinceJanuary 2008 following strongcriticism from US PresidentBarack Obama about China'scurrency policy.

Active trading in offshoreyuan forwards focused on near-term tenors after the central banklifted the yuan's mid-point, itsdaily reference rate aroundwhich the currency is allowed totrade against the dollar, for aninth consecutive day, thelongest string of gains since thelandmark July 2005 revaluation.

The People's Bank of Chinaset the mid-point at 6.6997yuan per dollar, from which theyuan can rise or fall 0.5 percent versus the dollar, com-pared with Monday's 6.7110.

"The market is now con-vinced that the PBOC is takingaction to let the yuan stage amini-revaluation and many ofus expect the yuan to continueto rise steadily in comingweeks to reach 6.6 or evenstronger," a Chinese bank deal-er in Shanghai said.

The yuan hit an intraday highof 6.6987 against the dollar inthe early afternoon, breaking

through key resistance at6.7000 for the first time sincethe 2005 revaluation and enter-ing a new, stronger tradingrange, traders said.

The currency trimmed somegains late in the session, clos-ing at 6.7079 to the dollar, upfrom 6.7143 on Monday andrising 1.29 per cent in ninetrading days. China's foreignexchange market will be closedfrom Wednesday to Friday forthe Mid-Autumn Festival, andtraders said they expected theyuan to continue rising underthe PBOC's guidance when themarket resumes trading nextMonday.

Offshore, dollar/yuan non-deliverable forwards fell toimply more yuan appreciation,with three-month NDFs hittingrecord lows for the fourth day.

Three-month NDFs were bidat 6.6580 late on Tuesday,slightly off a record low of6.6560 touched in early tradebut still down sharply from6.6840 at Monday's close. Theyimplied a further 0.63 per centyuan appreciation in threemonths from Tuesday's mid-point, compared with apprecia-tion of 0.40 per cent implied byMonday's closing level. -Reuters

Yuan up for 9th day,seen rising more

Swissfranc dips

after exportgrowth easesZURICH: The Swiss francdipped on Tuesday as Swissexport growth eased in August,adding to the Swiss NationalBank's case to keep interestrates on hold for longer.

Swiss exports rose by 4.6 percent on the year when adjustedfor working days, slowing from7.4 per cent growth in July, datafrom the Federal CustomsOffice showed. The country'strade surplus narrowed sharplyto 568 million francs.

The franc was 0.3 per centlower against the euro com-pared to the New York close,trading at 1.3168 per euro at0648 GMT. The franc was 0.2per cent firmer against the dol-lar at 1.0066 per dollar.

The franc had droppedsharply last Thursday after theSNB struck a surprisingly scep-tical note on the country's eco-nomic outlook and via a lowerinflation forecast signalled itmay hold rates at ultra-low lev-els well into 2011.-Reuters

LONDON: Sterling hit a two-month low against the euro onTuesday as the single currencyrose on robust investor demandfor Irish and Greek governmentpaper, which eased concernsabout euro-zone peripheral sov-ereign debt.

While staying under sellingpressure against a broadlystrong euro, the pound managedto claw its way back from earli-

er losses versus the dollar as ittracked the single Europeancurrency's move higher againstthe greenback. The euro extend-ed gains after Ireland sold 1.5billion euros in an auction of2014 and 2018 bonds, at the topof its target range, with yieldswell below those seen for thebonds in the secondary market.

Greece sold 390 million eurosof 3-month T-bills with foreigninvestors buying about 72 percent of the paper, the country'sdebt agency said.

The euro rose to a two-monthhigh of 84.70 pence, up 0.7 per

cent on the day after stops weretriggered initially above 84.16pence and then 84.50 pence,traders said.

By 1505 GMT, it traded at84.40 pence, having closed justabove the psychologically key84.00 pence on Monday.Technical support also came inat 83.84 pence, the 23.6Fibonacci retracement of theeuro's October 2009-June 2010

move down.Sterling hit a low of $1.5503

against the dollar in earlyLondon trade, before pullingback to $1.5550, little changedon the day. Demand from Asianaccounts helped support thepound, traders said.

In early London trade, the UKcurrency was hammered versusthe Swiss franc on selling byspeculative accounts and flowslinked to merger and acquisi-tion-related speculation. It fellas low as 1.5536 francs, beforepulling back to 1.5596, littlechanged on the day. -Reuters

Stg slides vs euroafter debt auctions

BANGKOK: The Philippinepeso and Indonesian rupiah leda moderate rise in Asian curren-cies on Tuesday with the dollarheld down by uncertainty overhow the United States willrevive its economy.

Dollar/peso NDFs were bidup across the curve with theshort-end attracting most buy-ing interest and investors focus-ing on arbitraging wider gaps ofspot and forward rates. The pesowas buoyed by the market's riskappetite and yuan's new post-revaluation high mid-point.

"The onshore level is lowerthan offshore where players arefree to speculate, causing awider gap between forwards

and spot. It's very liquid up tothree months and good enoughinterest up to six months," aManila-based trader said.

The liquid three-month dol-lar/peso NDFs rose to 44.32,some 32 points higher than thespot and implying a 0.7 per centpeso fall from the spot.

Dollar/spot was bid at 43.995at 0420 GMT, up 0.16 per centfrom 44.07 late on Monday.Traders expected its rally to runinto resistance at 43.80. The pesohas gained 0.4 per cent in the pastweek and 5 per cent this year.

The Indonesian rupiah inchedup 0.12 per cent to 8,965 per dol-lar in morning trade on increasedinflows ahead of the monthly

government bond auction later onTuesday. Traders suspected thatBank Indonesia intervention mayhave tempered gains.

The rupiah has been stable inthe past week, rising less than0.1 per cent against the dollar,but it has appreciated 5.1 percent this year.

The Thai baht eased a tad toaround 30.76-77 per dollarwhile Asian peers rose margin-ally. Dollar/baht was bid at30.75 at 0556 GMT against30.73 late on Monday. The bahthas appreciated 2.4 per cent inthe past month and 8.4 per centthis year, the third-best Asianperformer after the ringgit andyen. -Reuters

Asian currencies

Peso, rupiah lead gainson revived risk appetite

SYDNEY/WELLINGTON: The Australia dol-lar stood within sight of two-year highs onTuesday as the country's central bank made itsbluntest warning yet that further rate rises wouldlikely be needed to keep inflation in check.

The hawkish minutes of the Reserve Bank ofAustralia's (RBA) September policy meetingechoed an upbeat outlook from RBA GovernorGlenn Stevens on Monday and narrowed theodds of a hike as early as October.

"The minutes show a very significant increasein the Bank's level of urgency with regard tomonetary policy," said Bill Evans, chief econo-mist at Westpac. "Our reading indicates that thebank is set to move on October 5."

Interbank futures extended their recent slide asthe market priced in a one-in-three chance for ahike to 4.75 next month. A move in November isseen as a 76 per cent chance and December 92per cent.

A hike would only further widen the Aussie'salready attractive yield advantage over mostother developed nations. Australian two-yearyields were now 438 basis points above those onTreasuries, the biggest gap since mid-2008.

All of which kept the Aussie firm around$0.9452, after stretching as far as $0.9495overnight. Support is seen at $0.9425 and$0.9385 while bullish technicals still targethighs from July 2008 at $0.9529 and $0.9586.

The Aussie also had a strong session on theyen rising to a four-month high at 81.42 beforepulling back a little.

The NZ dollar was steady at $0.7283 onTuesday, after keeping a narrow $0.7274 to$0.7306 range. The kiwi continues to be hin-dered on rallies by the central bank's downbeatview of the economy on Sept 16, which sparkeda selloff in the kiwi, as analysts pared backexpectations for future rate rises. -Reuters

Aussie $ firm as RBA heraldsrate hikes; Kiwi lags

Taiwan $slips on

cbank moveTAIPEI: The Taiwan dollarslipped on a suspected centralbank move on Tuesday after aglobally softer US currencypushed it higher ahead of aFederal Reserve meeting.

The Taiwan dollar endedT$31.765 against the US cur-rency, compared withMonday's close of T$31.752. Asuspected central bank move tocontrol market volatility sent itlower.

Taiwan's dollar had strength-ened earlier in the session,tracking many of its Asianpeers, as the US unit hoverednear five-week lows against abasket of currencies.

The US dollar has weak-ened before a Federal Reservemeeting later in the day, whenthe rate-setting committeemay signal its readiness forfurther easing to help revi-talise the economy.

Taiwan's currency will trackgains in the yuan as a proxy forthe non-convertible Chineseunit because of the island'sstrong trade ties with China.

A resurfacing of the euro-zone sovereign debt crisiscould spread into global finan-cial markets and weakengrowth-linked currencies suchas the Taiwan dollar. -Reuters

USD slips on caution that FOMC may hint at more QE

China's conquistadoresare blazing a trail intoSouth America. Witness

the mooted $7 billion invest-ment by two Chinese state oilfirms in Brazil's OGX, or talkof a Chinese bid for part ofBP's Argentine joint venture,Pan American. At a recentinvestor forum, one Chineseexecutive even likened thecontinent to a new Africa. Thecolonial comparison is apt, butSouth America may be a lessfulfilling El Dorado.

Today's explorers aren'tsearching for gold, but forresources China needs to feedand house its 1.3 billion pop-ulace - notably iron, copper,and farmland. Previouslytrade was the chosen meansof securing them, whileinvestment remained paltry.Brazil has tripled its tradesurplus with China to around$15 billion in four years.Copper-rich Chile followed asimilar pattern.

Now direct investment iscatching up. China is thebiggest foreign investor inBrazil this year. Once capital-starved Latin governmentswelcome the change:

Brasilia, for example, has hadto run interest rates double

the level of inflation.Venezuela and Brazil haveboth offered up oil flows forinvestment and loans.Chinese oil firm CNOOCpaid $3.1 billion for half of

Argentina's Bridas oil field inMarch.

China's Latin love partlyreflects rising barriers else-where. Canada, Australia andthe United States have allerected defences aroundmined and agricultural

resources, orthreatened to;the UnitedStates hasthrown a pro-t e c t i v ee m b r a c earound oil-richIraq. LatinAmerica andAfrica, byc o m p a r i s o n ,remain openfor business.

But SouthA m e r i c a ' sneeds are differ-ent fromAfrica's. Chinahas wooedcountries like

South Africa, Ghana, Kenyaand Libya by building ports and

railways, since what it lacks inresources it makes up for ininfrastructure expertise and sur-plus labour. But South Americahas those already in abundance.That changes the calculus: thelikes of Brazil would prefer abig chunk of China's $2.7 tril-lion foreign reserves.

That is a path to overpayingfor assets. Take OGX: thegroup controlled by Brazilianbillionaire Eike Batista, hasyet to produce a drop of oil.The more finite resourcesChina buys at exuberantprices, the higher the premi-um sellers will demand.Japan learned that lessonwhen its 1980s foreigninvestment surge culminatedin crazy bids for trophy assetslike Rockefeller Center andPebble Beach golf course.China's conquistadores havea clearer strategic goal, butthey too may leave behindmore treasure than they haulaway.-Reuters

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Locallenders

& Basel IIIThe top banking regulators of the world have

agreed on new comprehensive rules aimed at mak-ing banking industry safer and protecting interna-tional economies from future financial disasters.Interestingly they have come up with new rulesafter nearly two years of collapse of LehmanBrothers that plunged banking around the globeinto crisis exacting bailouts worth billions of dol-lars to save the system from complete collapse.

The recommendations made are subject toapproval in November this year by the G-20nations and then implementation by individualnations before becoming binding. The group hasset a deadline of January 1, 2013, for the membernations to adopt the rules to be known as Basel III.

The centerpiece of the agreement is a measurethat will require the banks to raise the amount ofcommon equity they consider the least risky formof capital to 7 per cent of assets from existing 2 percent. Together with other requirements intended tosafeguard against risk, it could significantly alterthe way banks do business.

The new requirements will more than triple theamount of capital that banks must hold in reserve,an effort to move banks toward more conservativepositions and force them to maintain a larger cush-ion against potential losses. However, banks haveexpressed apprehensions that the new regulationscould reduce profits, strain weaker institutions andraise the cost of borrowing. Keeping in view theenormity of job the regulators are willing to pro-vide a lengthy transition period to banks to adjustto some of the strictest rules.

The agreements reached are fundamental andaimed at strengthening global capital standardssaid Jean-Claude Trichet, President, Europeancentral bank and chairman of the group compris-ing financial officials from 27 countries.PricewaterhouseCoopers has broadly supportedthe Basel III proposals released this week.However, it has expressed concerns over theimplementation aimed at strengthening the finan-cial stability of banks.

The local banking industry is cognisant of the factthat to ensure financial stability it is in their owninterest to adopt international standards. The StateBank of Pakistan (SBP) has already adopted strin-gent standards whereby banks have to comply withcapital adequacy ratio (CAR) requirement of 10 percent against global standard of 8 per cent. On top ofthis every commercial bank incorporated inPakistan has to create a reserve fund whereby a cer-tain percentage of -- each year's-- profit is retained.

Pakistan will also be required to ratify these rulesin due course. The timeframe for the transaction islikely to put some pressure on smaller commercialbanks. SBP's efforts to enhance minimum paidupcapital have already run into snags mainly as small-er banks failed in abiding by the timeline.

The fragile economy bearing the brunt of pre-carious law and order situation has gone feebler.Rising delinquencies can add to accumulatedlosses of already "red" banks. To save all thestakeholders, mergers and acquisitions as well aschange of management in certain banks havebecome inevitable. The earlier the process iscompleted the better it will be for the bankingsector and stakeholders.

4Wednesday, September 22, 2010

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

111-C, Jami Commercial Street 11, Phase VII, DHA KarachiTelephone: 92-21-5311893-6 Fax: 92-21-5388428

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

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

Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 49

China's South American Dream

Ma h m o u dAhmadinejad's listof enemies is long,

ranging from western gov-ernments to reformists athome and emerging rivals inhis own hardline camp. Butsupport from Iran'sRevolutionary Guard andSupreme Leader AyatollahAli Khamenei still ensureshim the upper hand.

Discord among the hardlinerulers in the Islamic Republichas never been so public. Therift has little to do with Iran'snuclear row with the West orwith the pro-reform opposi-tion, which rejectsAhmadinejad's 2009 re-elec-tion as rigged.

So bad has the feudingbecome that Khameneiadmonished faction leaderslast month and made a publicstatement, flanked byAhmadinejad and his mainrivals, on the need for unity.

As a former Guards officer,Ahmadinejad has valuablesupport among the elite corpsand the volunteer Basij para-military force, which quelledthe post-electoral anti-gov-ernment unrest, the bloodiestprotests in Iran in the pastthree decades.

Some senior clerics accuseAhmadinejad of underminingthe historical role of the cler-gy in an Islamic stateincreasingly defined by the

raw political power anddense network of businessinterests of theRevolutionary Guards. It wasthe Guards who emerged asthe biggest winners from lastyear's turmoil.

Clerics played a key role inmobilising the masses thatled to the 1979 Islamic revo-lution. Some say their role isbeing ques-tioned, notexplicitly butby the courseof events.

"The institu-tion of the ...Guards hasg r a d u a l l yeclipsed theinstitution ofthe clergy, interms of theire c o n o m i c ,political, andforeign policy influence,"said Karim Sadjadpour, anassociate at the CarnegieEndowment in Washington.

"Iran is (now) more a mili-tary autocracy."

It is Khamenei, though,who appoints top command-ers of the corps, which hasalways been loyal to theleadership and to the pillarsof the revolution.

"I don't recall a singleexample of them being open-ly critical of Khamenei," saidSadjadpour.

"NATIONALISTICTHEMES"

The opposition sees a "mil-itarisation" of the statethrough the growing powerof the Guards, whom theWest accuses of promoting anuclear and missile pro-gramme aimed at atomicarms. Tehran says it seeksonly power stations.

Ahmadinejad's resort tonationalistic themes hasalienated some hardliners,contradicting principles setby revolutionary leaderAyatollah RuhollahKhomeini such as the prima-cy of Islam.

However, analysts say thenationalist approach was atactic to widen electoral sup-port for parliamentary pollsnext year.

"He has lost the support ofhardliners...Many Iranianshave a strong sense of

national identity," said ana-lyst Syrus Mashayekhi."Ahmadinejad's aim is to wintheir votes."

Sadjadpour said the presi-dential vote and its aftermathhad undermined the "legiti-macy and influence" of Iran'stop leaders.

"But Khamenei remains atthe apex of Iran's power

pyramid," he said. "Hismodus operandi has been torule over people (elites) whodespise one another but areloyal to him."

A delay in releasing one of3 Americans held in Iran lastyear on spying charges wasone symptom of factionalrivalry. The judiciary unex-pectedly blockedAhmadinejad's interventionto free her, saying the legalprocess was incomplete.

The head of the judiciary isa brother of parliament

speaker Ali Larijani, a lead-ing conservative rival ofAhmadinejad.

"The public discontent isincreasing ... even somehardline people are losingtheir faith in the system,"said a political analyst, whoasked not to be named.

Although the world's fifthlargest oil exporter, Iran isfinally feeling the pressure asa fourth round of internation-al sanctions aimed at curbingits nuclear ambitions beginsto bite.

Ahmadinejad has a fight onhis hands, facing popular dis-content over high prices andinflation as well as criticismwithin the establishment overpopulist economic policies.

The outcome of the rift maychange Iran's approach to theoutside world, analysts andTehran-based diplomats said.

"The rising power of theGuards may toughen Iran'sapproach regarding thenuclear impasse or other for-eign policy matters," said asenior western diplomat, whoasked not to be named.

Analyst Reza Sehhat, how-ever, sees changes in politicalcalculation rather than goals.

"It does not matter whetherthe president is a hardliner ora reformist ... major policieswill remain the same ... buttactics may change," hesaid.-Reuters

Iran Infigthing

Roman Kozhevnikov

Shoira Shatmanova says her 21-year-old son is embarrassed tobe seen in public with her

because she doesn't wear an Islamicheadscarf.

Born and raised when Tajikistan waspart of the Soviet Union, she feelsincreasingly like an outsider in herown land.

Her fear, like that of many inTajikistan, is that a more radical inter-pretation of Islam in the Central Asianrepublic of 7.5 million people couldprove fertile ground for homegrownmilitants filtering back across the bor-der from Afghanistan.

"I'm not in any way opposed towomen wearing the hijab," saidShatmanova, a 53-year-old nurse. "Iwill only oppose it when these womenand their husbands are against peoplelike me -- and this is already happen-ing." Chronic poverty and a Soviet-style crackdown on religion is further-ing the growth of radical Islam inparts of Central Asia, a secular butmainly Muslim region wedgedbetween Russia, Iran, Afghanistan andChina.

Security analysts say Central Asianmilitants who have fought with theTaliban in Afghanistan could attemptto exploit political turmoil and ethnicdivisions to gain a foothold in theFerghana valley, where three formerSoviet republics intertwine.

In Kyrgyzstan, the interim govern-ment has struggled to control itsvolatile south since assuming powerafter an April revolt. Nearly 400 peo-ple were killed in savage clashes inJune.

Authorities in Tajikistan, where theaverage monthly wage is only $80, arealso on alert after the country's firstsuicide bombing in five years was fol-lowed by an ambush on Sunday thatkilled at least 23 troops en route toguard its porous borders.

"Any subversive movement will feel

tempted to check out how weak theregime is," Paul Quinn-Judge, theBishkek-based Central Asia projectdirector for the International CrisisGroup, said.

Tajikistan's response this year to aheightened threat of insurgency hasbeen to jailmore than 100members ofbanned groupson charges ofplotting tooverthrowingthe govern-ment.

P r e s i d e n tI m o m a l iRakhmon hasrecently criti-cised thegrowing fash-ion amongwomen toeschew nation-al costume infavour of the hijab and urged parentsto withdraw their children from reli-gious schools abroad, saying theywould become "terrorists".

ENERGISED BY INSURGENCYTajikistan's government said foreign

Islamist militants, including merce-naries from Pakistan, Afghanistan andChechnya, were responsible for theambush in the Rasht valley and alsoblamed warlords with whom it foughta civil war in the 1990s.

By focusing attention on his formercivil war opponents, Rakhmon hasignored the roots of a new Islamistmilitancy, said Christopher Langton,an independent regional specialist.

"Rakhmon, encouraged by hisRussian advisers, is content to followa Soviet approach, which is heavy-handed and unlikely to address thereal reasons for growing militancy,"said Langton.

"The seeds are sown in the unem-ployed young who have grown upsince the Tajik civil war and who see

the way their parents have beenrepressed," he said. "These 'young' areenergised by the ongoing insurgenciesin Pakistan and Afghanistan."

Orkhan Jemal, a Moscow-basedpolitologist who has written about theregion, says Tajikistan faces a dilem-

ma: to ally with Russia, which helpedRakhmon win the civil war, or toappeal to US and British fears of aspreading Islamist insurgency.

"I have the feeling that Russia willnot be involved in aiding Tajikistan inthe same way it did in the 1990s," hesaid, citing the Kremlin's reluctance tosend troops to Kyrgyzstan.

"On the other hand, you have theUnited States and its coalition fightingin Afghanistan, who feel huge uneaseover the rapid Islamisation of yetanother country in the region."

One threat to the region would bethe return of the Islamic Movement ofUzbekistan (IMU), an al Qaeda-linkedmilitant group whose exiled membershave spent years fighting inAfghanistan.

The IMU last month announced anew leader, Usman Adil, to replaceTahir Yuldashev, who was killed inAugust 2009 by a US drone missilenear the Pakistan-Afghanistan border.

"As long as they do not announce

that they have shifted plans to focuson Central Asia, Tajikistan andKyrgyzstan will be sideshows forthem," said Quinn-Judge.

"Should, however, the IMU switchits strategy and declare all-out war inCentral Asia, we would have a totallynew situation on our hands."SECULAR VS ANTI-RELIGIOUS

Khoji Akbar Turajonzoda, once adeputy leader of the Tajik UnitedOpposition that fought against the gov-ernment, does not believe there will beanother civil war in Tajikistan. But theformer supreme mufti says manyMuslims have grown disaffected.

"No matter the problem, Islamistsget the blame," he said. "This onlymakes heroes of those who bring nogood."

Turajonzoda told Reuters he wouldsupport a secular state in the style ofMalaysia, Indonesia or India.

"I am not a supporter ofIslamisation. I'm a supporter of a sec-ular, but not an anti-religious,Tajikistan. Unfortunately, people hereequate 'secular' with 'anti-religious'."

Wearing the hijab in schools andcolleges is forbidden.

Shatmanova, however, says sheswaps her Western fashions for con-servative dress when visiting her par-ents in a low-rise district of her hometown Tursunzoda, 50 km (30 miles)west of Dushanbe.

She says she pretended to observethe Muslim fasting month of Ramadanthis year for fear of scorn from herwork colleagues.

"Many people have left the repub-lic," she says. "Not only Russians,from whom we inherited many of ourtraditional ways, but secular Tajiksand Uzbeks, who have left in search ofgood jobs, decent education and a bet-ter life."

Her eldest daughter is among them."She left for Moscow five years ago.

She married a Russian. I'm very gladshe can wear what she likes. She's afree person." -Reuters

Radical Islam in Central Asia

Today's explorers aren't searching forgold, but for resources China needs to

feed and house its 1.3 billion populace -notably iron, copper, and farmland.

Previously trade was the chosen meansof securing them, while investment

remained paltry. Brazil has tripled itstrade surplus with China to around $15billion in four years. Copper-rich Chile

followed a similar pattern.

Discord among the hardline rulersin the Islamic Republic has never been

so public. The rift has little to dowith Iran's nuclear row with the West

or with the pro-reform opposition,which rejects Ahmadinejad's 2009

re-election as rigged.

Security analysts sayCentral Asian militants

who have fought with theTaliban in Afghanistan could

attempt to exploit politicalturmoil and ethnic divisions togain a foothold in the Ferghana

valley, where three formerSoviet republics intertwine

“

FERTILISER000 tonnesUrea Offtake (Jan to July 10) 3,565Urea Offtake (July 10) 580Urea Price (Rs/50 kg) 879DAP Offtake (Jan to July 09) 374DAP Offtake (July 10) 49DAP Price (Rs/50 kg) 2,626

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 09 to June 10) 71,998

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

INDUS MOTOR COProduction (July 09 to June 10) 50,557

Sales (July 09 to June 10) 50,823

Production (July 10) 5,162

Sales (July 10) 4,999

HONDA ATLAS CARProduction (July 09 to June 10) 13,500

Sales (July 09 to June 10) 14,120

Production (July 10) 1,560

Sales (July 10) 1,272

DEWAN FAROOQ MOTORSProduction (July 09 to June 10)1,218

Sales (July 09 to June 10) 1,371

Production (July 10) 41

Sales (July 10) 40

BANKING SECTORScheduled bank (Rs in mn)Deposit (August 20,10) 4,595,176

Advances (August 20,10) 3,304,533

Investments (August 20,10) 1,788,671

Spread (July 2010) 7.51%

OIL MARKETING CO(000 tons)MS (Jul 09 to June 10) 1,933

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

Fuel Oil (Jul 09 to June 10) 9,259

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

PRICES (Ex-Refinery) RsMS (1 Sep 10) 40.85

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)LOTPTA 8.65 9.89 SNGP 29.78 9.68 WTL 2.41 7.95 NPL 11.00 6.82 DGKC 24.86 4.63

Symbol Close ChangeUPFL 1,068.00 48.00 DREL 476.70 22.70 SIEM 1,134.49 20.49 LAKST 220.59 10.50 BATA 503.75 8.75

Symbol Close ChangeRMPL 1,420.70 -54.3ULEVER 3,972.00 -28NESTLE 1,830.05 -26.3IDYM 249.49 -7.26FZTM 336.67 -6.59

Plus 121Minus 245Unchanged 22

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Philippines at newpeak; Indonesia down

Caution ahead of Feddrags EU shares lower

Wednesday, September 22, 2010 5

Dhiyan

Range bound activities are expected in the market in theshort-term while market will gradually improve in thelong-term. Investors are therefore advised to do day trad-ing. They can also invest for long term in oil stocks. Nochange in the interest rates in the upcoming monetary pol-icy will trigger the market. Negative activities will be con-tinued in the market today.

Iqbal Ismail, ACE Securities

Khalid Iqbal Siddiqui, Invest & FinanceMarket is likely to be weak in the coming days due to expectations of

rise in interest rates and because of no progress on margin trading sys-

tem. Therefore, we can see a decline of 2 to 3 per cent while volumes

will also remain low. Investors should not be panic if they have posi-

tions while for new investments they should wait for dips. They can

invest in power and OMC (if turnover tax is reversed) sectors and in

Pakistan Oil fields. Market will show weak activities today.

DO DAY TRADING

Opening 10,063.58

Closing 9,992.50

Change 71.08

% Change 0.71

Turnover (mn) 88.47

Opening 3,164.48

Closing 3,131.10

Change 33.38

% Change 1.05

Turnover (mn) 3.79

Opening 2,577.88

Closing 2,563.91

Change 13.97

% Change 0.54

Turnover (mn) 0.21

Nawaz Ali

KARACHI: Selling by thelocal institutional investorstook the Karachi StockExchange (KSE) below10,000 on Tuesday asinvestors offloaded theirpositions because of nomajor outcome of the KSE-SECP meeting and fears ofexpected increase in inter-est rates.

The benchmark KSE 100-index fell 71 points, 0.71 percent, to 9,992 points, KSE30-index dipped 113 points,1.16 per cent, to 9,712points and KSE all-shareindex skidded 48 points, 0.7per cent, to 6,980 points.

Furqan Punjani, analyst at

Topline Securities said thatno positive outcome onmargin trading system(MTS) meeting along withexpected rise in interestrates in upcoming monetarypolicy triggered selling inthe market.

The day started on a posi-tive note at three points up.Positive activities managedto continue during the firstone and quarter hours andindex touched an intradayhigh of 10,119 points (+ve55 points). However, someselling pressure arrived inthe market as the meetingbetween SECP Chairmanand KSE a day earlier didn'tgive a positive outcome.

It should be noted that a

meeting of SECP chairmanwith KSE member directorsand prominent brokers washeld on Monday.Nevertheless, no timelineabout the launch of the sys-tem was debunked, forcingthe investors to offload.

Therefore, all the gainswere wiped out and indexwent down into the nega-tive zone. Then after show-ing some resistance indexfinally stayed in the bearishterritory breaching its psy-chological barrier of 10,000levels and at about 3:15PST it touched its lowestlevel of the day of 9,980 (-ve 82 points).

On the other side thetense law and order situa-

tion in the city was also thefactor that kept the investornervous. Finally, indexended the session just nearits lowest levels.

"Press release that clearlymissed the timeline of MTSimplementation, disallowedthe initial bull-run.Deteriorating law and ordersituation, gloomy economicand financial environment,and weakening local cur-rency kept the sellers fromlocal circuit active with aview of partial recovery ondips," said an equity dealerat a local brokerage house.

Foreign investors howev-er were mainly on the buy-ing side as according toNCCPL there was a net for-

eign buying of $0.65 mil-lion on Tuesday. On thelocal side, companies andbanks did a net selling of$1.77 and $1.28 millionrespectively while mutualfunds and individualinvestors did a net buyingof $1.04 and $0.63 millionrespectively.

Investor participation sawsome improvement as 88.4million shares were tradedin the overall market, 23.4million shares more ascompared to a turnover of65 million shares a day ear-lier.

Out of total 388 activeissues, 245 declined and 121advanced while 22 issuesremained unchanged.

KSE closes under 10kas institutions offload

HONG KONG/SHANGHAI:Shares in Hong Kong edged upto a five-month high onTuesday, supported by proper-ty picks, while Shanghai sharesticked higher in light volumeahead of a long public holiday.

Both Hang Seng Index andthe Shanghai Composite Indexrose 0.1 per cent. The HongKong intraday peak and closewere the highest levels sinceApril 15. Shanghai stocksedged up to close at 2,591.6.

Hong Kong property shareswere boosted by news thatdeveloper Sun Hung KaiProperties will maintain its2011 property sales forecastdespite concerns that authori-ties might take further meas-ures to curb prices.

Housing prices in HongKong have risen 45 per centsince the beginning of last yearprompting the local govern-ment to roll out damping meas-ures although recent land auc-tion prices have suggesteddemand remains strong.

Wharf Holdings rose 2.6 percent while Cheung KongHoldings was up 2.3 per cent.Sun Hung Kai shares were up0.7 per cent.

"The concern over the gov-ernment measures last monthwas a little overdone," said

Cusson Leung, head of proper-ty research at Credit Suisse inHong Kong.

"Short term measures willhave a short-term impact. Ithink the government realisedthis and is rightly focusing onincreasing the supply of landwhile letting developers decidehow to use the land," saidLeung.

Credit Suisse recommendsinvestors continue switchingout of Hong Kong utilities andinto local developers.

Hong Kong Exchanges &Clearing (HKEx) fell one percent as investors cashed inrecent gains in the stock on theback of a pickup in tradingactivity and a robust IPOpipeline.

HKEx shares have risen 15.3per cent this month to be thethird highest gainer on theHang Seng.

Hengdeli Holdings Ltdslumped six per cent after thecompany said it would raiseHK$2.5 billion ($322 million)via a convertible bond offering.

The new shares issued fromthe bond would represent justover 10 per cent of the enlargedshare capital and the news fol-lows an announcement inAugust by the firm that itplanned to sell just over HK$1

billion in new shares.The small-cap index CSI500

is up 8.6 per cent since the startof August compared with a 1.7per cent drop on the ShanghaiComposite index. Markets areclosed Sept 22-24, Oct 1 andOct 4-7.

Property shares were mixedafter local media reportedChina may impose a propertytax early next year. Severalanalysts said they were scepti-cal.

"They have spoken about itfor so long, in the near term itwon't happen. There is a smallpossibility the tax will beimplemented in China, but thisis all still talk," said WangAochao, analyst at UOB KayHian in Shanghai.

China Vanke Co Ltd gainedone per cent. Nanjing ChixiaDevelopment Co Ltd rose 3.5per cent, while Gemdale Corpslipped 0.2 per cent.

Pharmaceuticals continued toweigh on the index, withinvestors taking profit after thesector's large gains over thepast month.

Zhongzhu Holding Co Ltddropped 7.4 per cent, whileHangzhou Tian-Mu-ShanPharmaceutical Enterprisedropped 3.9 per cent.($=6.71) -Reuters

HK off 5-month high

MUMBAI: Buoyant Indianshares cruised past 20,000points on Tuesday for the firsttime in 32 months, but therewere signs of fatigue after themarket had climbed for 10 ofthe last 11 sessions.

The 30-share BSE index rose0.48 per cent or 95.45 points to20,001.55, with 14 of its com-ponents gaining. More thantwo shares declined for everyshare that gained in the broad-er market in relatively highervolume of 503 million shares.The 50-share NSE index rose0.5 per cent to 6,009.05 points.

A tidal wave of foreign buy-ing, triggered by the country'srobust economic growth whilethe developed world struggleswith a slowdown, has madeIndian equities the preferreddestination for global investors.

However, after rallying 11.3per cent this month investors

are eager to lock in profits andthe possibility of consolidationis growing.

"Clearly, the pace at whichthe rally has been happeningover last 15 days is unsustain-able. But broadly the longer-term or medium-term bullishdirection is going to be main-tained," said RaamdeoAgrawal, cofounder and direc-tor of Motilal Oswal FinancialServices.

Six of the bluechips -- TataConsultancy Services, InfosysTechnologies, ITC, TataMotors Mahindra & Mahindraand HDFC Bank -- hit all-timehighs.

Finance Secretary AshokChawla told reporters in NewDelhi that there were no signsof overheating in the market.

"The Securities ExchangeBoard of India are watchingthe capital markets. There is no

cause for worry or anxiety atthis point in time," he said ontelevision channel CNBC-TV18.

A Reuters poll of 21 marketparticipants conducted lastweek had expected the BSEindex to touch 20,080 by end-2010, and the market's exuber-ance has caused unease amongsome investors.

"We are cautious on the mar-ket right now. Valuations maybe stretched after the sharp runup," said Om Ahuja, head ofprivate wealth management atEmkay Global.

"Huge foreign money isflowing in but retail investorsare either not participating orgoing short."

Analysts are, however, opti-mistic about the outlook forforeign inflows. BNP ParibasSecurities said the potential for

See # 11 Page 11

Indian shares climb holding on to thick vols

TOKYO: Nikkei edged brieflyto a seven-week intraday highon Tuesday before falling intonegative territory in the face ofprofit-taking, with the dollar'sstruggles against the yenweighing on sentiment.

The Nikkei hit a seven-weekintraday high of 9,704.25 butended down 0.3 per cent or23.98 points at 9,602.11. Thebroader Topix also lost 0.3 percent, to 849.94. Trade was thin,with 1.5 billion shares chang-ing hands on the Tokyoexchange's first section.Declining shares outnumberedadvancing ones, 893 to 596.

Kyorin soared on a report thatgenerics drug maker SawaiPharmaceutical Co wants toacquire it while Canon climbedafter a report that strong demandhas prompted it to plan a newoverseas inkjet printer plant.

While market players saidlosses would be limited bystrong gains in US stocks andthe yen's retreat from 15-yearhighs against the dollar afterJapan intervened last week toweaken the Japanese currency,the market was vulnerable to

profit-taking."The intervention helped

boost the Nikkei last week butfundamentally nothing'schanged either in the US orJapanese economy," saidNagayuki Yamagishi, a strate-gist at Mitsubishi UFJ MorganStanley Securities.

"The fact that Japan did theintervention on its own alsomeans there are limits to thelong-term impact."

The Nikkei briefly edgedabove resistance near 9,660,which is right around the top ofthe cloud on daily Ichimokucharts. A clear break of thatlevel would be a bullish sign.

But otherwise, chart signalswere mixed. The Nikkei's rela-tive strength index (RSI) stoodat 61, with anything from 70and above oversold, while itsslow stochastic dipped.

"Some short-term technicalindicators suggest overheating,but I think medium- and long-term investors are still buying,and this is limited losses," saidMasayoshi Okamoto, head ofdealing at Jujiya Securities.

See # 9 Page 11

Tokyo sharesslide by 0.3pc

US stocks mid-morning

Mkt slipsahead ofFed meet

NEW YORK: Stocks slippedon Tuesday as caution beforethe Federal Reserve's monetarypolicy meeting overshadowedpositive US housing data.

Investors paused a day afterthe S&P 500 broke through akey technical range to close at afour-month high. The S&P 500has gained about nine per centin the last four weeks.

The Fed is expected to renewa promise to keep its portfoliofrom shrinking but not take anysteps to ease monetary policy.Some investors believe a stringof positive economic data hasgiven the Fed room for maneu-ver.

"The latest incoming datagives the Fed a little bit moreleeway," said Alan Lancz, pres-ident of Alan B Lancz &Associates Inc in Toledo, Ohio."Any economic projections orthe breakdown in the vote ofthe committee members will bewhat most investors will belooking at."

The Dow Jones industrialaverage slipped 7.95 points,

See # 10 Page 11

UK’s FTSEloses 0.5pc,eyeing Fed

LONDON: Britain's leadingshares faltered by the close onTuesday as investors lost theirnerve ahead of news from theUS Federal Reserve, withbanks and miners the biggestfallers.

The Fed appears set to debatepumping billions of dollarsmore into the sluggish USeconomy, but is likely to holdoff any action while it takes fur-ther readings on the health ofthe recovery.

The FTSE 100 closed down26.35 points, or 0.5 per cent, at5,576.19, well off the sessionhigh of 5,635.72. It had gained1.7 per cent on Monday, whenthe index closed at its highestlevel since late April.

FTSE volumes were light,however, at just 70 per cent oftheir holiday-thinned 90-dayaverage.

Banks, which enjoyed goodgains in the previous session,edged back as investors became

See # 8 Page 11

ANNOUNCEMENTS

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

Salfi Textile Yearly 25%D 305.929 91.53

Tata Textile Mills Yearly 25%D 440.6 25.43

Island Textile Yearly 50%D 178.435 356.87

Allied Rental Yearly 22.5%D 277.973 4.63

AL-Noor Modaraba Yearly 5%D 11.034 0.53

ECOPACK Ltd Yearly -18.393 -0.8

Shanghai up in low turnover

Wednesday, September 22, 20106

Volume 88,467,940

Value 2,641,853,239.57

Trades 47,127

Advanced 121

Declined 245

Unchanged 22

Total 388

Current 6,980.58

High 7,068.84

Low 6,976.14

Change i48.95

Current 9,992.50

High 10,119.55

Low 9,981.07

Change i71.08

Current 9,712.43

High 9,855.70

Low 9,701.95

Change i113.63

Market KSE 100 Index All Share Index KSE 30 Index

Current 15,653.45

High 15,860.18

Low 15,625.79

Change i86.59

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

WorldCall Telecom Limited

WTL closed down -0.04 at 2.41. Volume was 381 per cent above aver-

age (trending) and Bollinger Bands were 56 per cent narrower than nor-

mal. The company's loss after taxation stood at Rs410.586 million

which translates into a Loss Per Share of Rs0.48 for the half year of

current calendar year (1HCY10).

WTL is currently 35.4 per cent below its 200-day moving average and

is displaying a downward trend. Volatility is relatively normal as com-

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

indicators reflect moderate flows of volume out of WTL (mildly bearish).

Trend forecasting oscillators are currently bearish on WTL.

RSI (14-day) 40.14 Total Assets (Rs in mn) 17,566.02

MA (10-day) 2.48 Total Equity (Rs in mn) 11,379.05

MA (100-day) 3.13 Revenue (Rs in mn) 8,408.28

MA (200-day) 3.74 Interest Expense 523.03

1st Support 2.36 Loss after Taxation (490.82)

2nd Support 2.28 EPS 09 (Rs) (0.570)

1st Resistance 2.53 Book value / share (Rs) 13.22

2nd Resistance 2.62 PE 10 E (x) -

Pivot 2.45 PBV (x) 0.18

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

RAVT closed down -0.05 at 1.74. Volume was 225 per cent above average

(trending) and Bollinger Bands were 84 per cent narrower than normal. The

company's profit after taxation stood at Rs7.167 million which translates into an

Earning Per Share of Rs0.29 for the nine months of fiscal year (9MFY10).

RAVT is currently 80.8 per cent below its 200-day moving average and is

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

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

reflect moderate flows of volume out of RAVT (mildly bearish). Trend fore-

casting oscillators are currently bearish on RAVT. Momentum oscillator is

currently indicating that RAVT is currently in an oversold condition.

RSI (14-day) 29.15 Total Assets (Rs in mn) 437.02

MA (10-day) 1.98 Total Equity (Rs in mn) 75.13

MA (100-day) 5.49 Revenue (Rs in mn) 316.78

MA (200-day) 8.99 Interest Expense 12.51

1st Support 1.50 Profit after Taxation 0.24

2nd Support 1.30 EPS 09 (Rs) 0.01

1st Resistance 1.90 Book value / share (Rs) 3.01

2nd Resistance 2.10 PE 10 E (x) 4.50

Pivot 1.70 PBV (x) 0.58

Ravi Textile Mills Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

JPGL closed down -0.13 at 1.41. Volume was 58 per cent above aver-

age and Bollinger Bands were 42 per cent narrower than normal. The

company's loss after taxation stood at Rs452.352 million which trans-

lates into a Loss Per Share of Rs2.89 for the year ended FY10.

JPGL is currently 37.9 per cent below its 200-day moving average and

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

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

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

forecasting oscillators are currently bullish on JPGL.

RSI (14-day) 38.85 Total Assets (Rs in mn) 6,429.63

MA (10-day) 1.53 Total Equity (Rs in mn) (612.73)

MA (100-day) 1.92 Revenue (Rs in mn) 3,505.76

MA (200-day) 2.27 Interest Expense 760.24

1st Support 1.39 Loss after Taxation (592.51)

2nd Support 1.34 EPS 09 (Rs) (3.797)

1st Resistance 1.50 Book value / share (Rs) (3.93)

2nd Resistance 1.56 PE 10 E (x) -

Pivot 1.45 PBV (x) (0.36)

Japan Power Generation Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

KESC closed down -0.04 at 2.01. Volume was 29 per cent above aver-age and Bollinger Bands were 57 per cent narrower than normal. Thecompany's loss after taxation stood at Rs14.621 billion which translatesinto a Loss Per Share of Rs0.74 for the year ended FY10.KESC is currently 23.7 per cent below its 200-day moving average andis displaying a downward trend. Volatility is low as compared to theaverage volatility over the last 10 trading sessions. Volume indicatorsreflect volume flowing into and out of KESC at a relatively equal pace.Trend forecasting oscillators are currently bearish on KESC.

RSI (14-day) 42.03 Total Assets (Rs in mn) 130,784.14

MA (10-day) 2.09 Total Equity (Rs in mn) (8,737.47)

MA (100-day) 2.35 Revenue (Rs in mn) 85,224.08

MA (200-day) 2.63 Interest Expense 5,619.80

1st Support 1.94 Loss after Taxation (15,484.94)

2nd Support 1.89 EPS 09 (Rs) (1.176)

1st Resistance 2.05 Book value / share (Rs) (0.66)

2nd Resistance 2.11 PE 10 E (x) -

Pivot 2.00 PBV (x) (3.03)

Karachi Electric Supply Corp Ltd

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,248.72 1,256.40 1,238.28 1,243.68 -5.04 -0.40

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

3,290,613 - - 65,194.15 mn 1,007,078.48 mn 1,248.72

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

10.80 4.00 37.01 68.56 6.35 1,233.70

Attock Petroleum 576 5.85 328.72 329.50 323.00 324.08 -4.64 58461 330.51 281.00 250 - 100 -

Attock Refinery 853 9.35 85.43 85.95 83.05 83.38 -2.05 473085 93.60 73.47 - - - -

BYCO Petroleum 3921 - 10.96 11.12 10.55 10.59 -0.37 840511 13.05 9.62 - - - -

Mari Gas Company 735 16.66 123.53 125.85 122.50 122.94 -0.59 62481 138.45 112.80 32.17 100B 31 -

National Refinery 800 6.07 200.79 200.74 199.00 199.11 -1.68 2433 207.00 182.01 125 - - -

Oil & Gas Development XD 43009 10.08 145.92 146.69 145.21 146.08 0.16 689690 153.00 133.00 82.5 - 55 -

Pak PetroleumXDXB 11950 5.42 174.52 175.65 172.50 172.95 -1.57 953392 214.10 172.50 130 20B 90 20B

Pak Oilfields 2365 6.93 238.21 239.00 234.26 234.78 -3.43 711178 240.01 209.99 180 - 80 -

Pak Refinery Limited 350 - 61.92 65.01 61.70 65.01 3.09 19714 82.00 48.26 - - - -

P.S.O XD 1715 4.48 265.98 269.54 264.01 264.76 -1.22 788083 289.45 233.10 50 - 80 -

Shell Gas LPG 226 13.60 30.14 31.59 30.16 30.20 0.06 1119 40.60 27.32 - - - -

Shell Pakistan XD 685 9.98 195.84 197.00 194.00 194.65 -1.19 4062 244.00 190.00 330 - 40 -

Paid up Last 60 days 2009 2010

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

925.75 928.94 914.64 918.53 -7.23 -0.78

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

8,587,679 - - 47,070.70 mn 115,000.75 mn 927.26

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

5.95 0.51 8.64 16.68 2.81 918.53

Ali Asghar Textile 222 - 1.33 1.99 1.70 1.70 0.37 300 2.21 0.20 - - - -

AL-Qadir Textile 76 8.63 5.49 4.50 4.49 4.49 -1.00 345 8.40 1.50 - - - -

Al-Qaim Textile 75 - 0.50 0.90 0.50 0.50 0.00 75500 0.90 0.50 - - - -

Amtex Limited 2415 4.75 17.92 18.14 17.65 17.76 -0.16 184069 20.45 10.42 - - 30 -

Artistic Denim 840 5.83 20.11 20.55 20.00 20.00 -0.11 1400 21.59 17.55 20 - - -

Azgard Nine 4493 261.50 10.67 10.95 10.40 10.46 -0.21 1735080 13.40 8.55 - - - -

Babri Cotton 29 3.13 12.50 13.49 13.49 13.49 0.99 2000 16.75 9.50 - - - -

Bannu Woolen 76 - 9.60 10.00 9.00 10.00 0.40 3632 10.50 7.50 - - - -

Blessed Tex Mills 64 1.06 45.00 43.10 42.80 42.93 -2.07 2099 49.40 36.15 7.5 - - -

Brothers Textile 98 - 0.73 0.70 0.31 0.50 -0.23 6026 1.50 0.10 - - - -

Chakwal Spinning 400 1.26 1.19 2.00 0.80 1.27 0.08 2107 2.30 0.55 - - - -

Chenab Limited 1150 - 3.55 3.95 3.42 3.50 -0.05 61991 5.10 2.85 - - - -

Colony Mills Ltd 2442 2.36 3.09 2.90 2.31 2.81 -0.28 29700 5.00 2.23 - - - -

Crescent Jute 238 - 0.74 0.93 0.70 0.76 0.02 16017 2.25 0.48 - - - -

Crescent Textile 492 3.05 19.81 19.55 19.51 19.53 -0.28 1000 28.60 19.51 - - - -

D S Ind Ltd 600 - 1.69 1.74 1.60 1.61 -0.08 6204 2.65 1.50 - - - -

Data Textile 99 - 0.32 0.75 0.32 0.32 0.00 3101 0.96 0.20 - - - -

Dawood Lawrencepur 514 9.93 43.22 42.99 41.06 41.50 -1.72 6197 52.28 37.08 - - 5 -

Din Textile 185 1.86 29.50 30.55 29.00 29.99 0.49 6001 32.30 23.10 - - - -

Ellcot Spinning 110 1.63 23.31 24.47 23.75 23.75 0.44 2605 25.30 19.35 7.5 - - -

Gadoon Textile 234 1.43 39.66 40.40 38.90 39.00 -0.66 1102 44.50 32.11 - - - -

Ghani Value Glass 75 11.41 37.50 38.00 36.30 38.00 0.50 2000 38.64 26.00 8 400R - -

Gulistan Spinning 146 2.02 5.20 6.00 5.89 5.95 0.75 3000 7.00 4.51 - 10B - -

Hira Textile Mills Ltd. 716 1.51 4.31 4.50 4.09 4.23 -0.08 32506 4.61 2.52 - - - -

Ibrahim Fibres 3105 3.32 36.55 37.98 36.10 36.11 -0.44 637 41.00 33.35 - - - -

Ideal Spinning 99 0.58 3.90 3.05 3.01 3.01 -0.89 5281 4.79 1.69 - - - -

Indus Dyeing 181 3.30 256.75 269.50 245.00 249.49 -7.26 1220 269.50 185.38 15 - - -

Island Textile 5 0.22 75.90 79.69 79.69 79.69 3.79 105 83.12 70.10 - - 50 -

Janana D Mal 43 16.88 12.55 13.50 13.50 13.50 0.95 475 16.25 9.95 - - - -

Kohinoor Ind 303 - 1.63 1.60 1.51 1.59 -0.04 20251 2.00 1.10 - - - -

Kohinoor Mills 509 - 2.65 2.50 2.50 2.50 -0.15 1453 3.99 1.60 - - - -

Kohinoor Textile 1455 3.63 5.99 6.00 5.85 5.85 -0.14 8001 6.30 4.00 - - - -

Masood Textile 600 0.99 20.75 20.99 20.00 20.99 0.24 610 23.25 19.15 15 - - 100R

Mehmood Textile 150 2.40 63.23 62.00 62.00 62.00 -1.23 300 74.50 46.00 4050.2257B - -

Mohd Farooq 189 - 1.18 1.00 1.00 1.00 -0.18 831 1.90 0.51 - - - -

Mukhtar Textile 145 - 0.35 0.54 0.36 0.52 0.17 17650 0.99 0.26 - - - -

Nagina Cotton 187 1.83 16.40 15.76 15.50 15.75 -0.65 12824 16.50 11.00 - - - -

Nishat (Chunian) 1586 2.96 16.97 17.20 15.97 15.99 -0.98 2836416 19.49 14.64 - 50R - -

Nishat Mills 3516 5.54 48.76 49.00 47.00 47.12 -1.64 1886491 53.14 40.81 20 - 25 45R

Quetta Textile 130 1.58 36.28 34.47 34.47 34.47 -1.81 4900 52.29 22.76 - 632R - -

Ravi Textile 250 4.46 1.79 1.90 1.50 1.74 -0.05 1496275 7.40 1.50 - - - -

Reliance Weaving 308 1.17 9.50 9.50 9.49 9.49 -0.01 2000 10.68 6.91 - - - -

Rupali Poly 341 8.25 33.27 33.75 33.70 33.75 0.48 505 36.35 31.35 40 - - -

Salfi Textile 33 0.28 25.86 27.15 24.57 25.94 0.08 20150 27.15 16.50 - - 25 -

Sana Ind 55 5.30 35.94 36.39 35.50 35.51 -0.43 9234 38.00 27.25 35 - 60 -

Saritow Spinning 133 0.57 1.80 2.49 1.10 2.49 0.69 101 2.80 1.01 - - - -

Service Fabrics 158 - 0.35 0.24 0.24 0.24 -0.11 5000 1.17 0.15 - - - -

Service Ind 120 4.93 190.66 194.75 190.00 191.50 0.84 4275 240.99 176.50 200 - - -

Shahpur Textile 140 1.18 0.86 1.05 0.81 0.85 -0.01 31501 2.26 0.25 - - - -

Shahtaj Textile 97 2.82 17.20 18.20 17.98 18.03 0.83 695 21.50 14.15 20 - - -

Suraj Cotton 180 1.48 34.88 35.35 33.14 33.14 -1.74 1019 36.20 29.50 15 - - -

Tata Textile 173 0.73 19.50 18.55 18.50 18.50 -1.00 8571 19.70 12.35 - - 25 -

Thal Limited XD 256 5.15 104.67 106.48 104.00 104.06 -0.61 13307 114.99 91.50 20 20B 20 -

Treet Corp 418 0.51 40.72 40.85 40.10 40.17 -0.55 10709 49.49 37.20 - - - -

Yousuf Weaving 400 1.51 1.20 1.10 0.96 1.10 -0.10 974 1.90 0.73 - - - -

Zil Limited 53 9.23 40.27 42.28 39.00 42.16 1.89 1402 46.12 33.00 40 10B - -

Paid up Last 60 days 2009 2010

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

1,039.97 1,053.42 1,011.40 1,016.27 -23.70 -2.28

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

262,383 - - 3,763.71 mn 5,420.74 mn 1,069.25

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

3.00 0.32 10.64 6.27 2.09 962.16

Pak Elektron 1174 2.97 14.63 14.90 13.85 13.89 -0.74 254959 15.95 11.20 - 10B - 10B

Tariq Glass Ind XD 231 2.77 17.98 18.80 16.98 17.02 -0.96 7281 19.12 13.50 - - 17.5 -

Paid up Last 60 days 2009 2010

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

1,451.41 1,495.66 1,430.69 1,437.19 -14.22 -0.98

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

123,910 - - 11,335.33 mn 184,687.65 mn 1,451.41

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

31.53 9.55 30.30 30.57 0.97 1,437.19

Abdullah Shah Ghazi Sugar 793 14.42 6.62 7.62 6.25 7.50 0.88 23596 7.62 1.12 - - - -

Adam Sugar 58 0.63 11.60 11.98 11.90 11.90 0.30 550 14.75 10.50 10 - - -

AL-Noor Sugar 186 4.32 41.90 43.00 41.90 42.54 0.64 1000 47.35 32.87 40 - - -

Faran Sugar 217 2.75 16.05 17.05 17.00 17.05 1.00 1707 23.50 13.51 17.5 - - -

Habib Sugar 600 6.16 28.95 29.90 28.99 29.88 0.93 53282 29.90 22.50 35 25B - -

Habib-ADM Ltd 200 4.49 16.15 16.98 16.00 16.00 -0.15 1564 16.98 13.00 40 - 40 -

Hussein Sugar 121 - 8.05 9.05 9.00 9.05 1.00 1028 9.10 4.22 - - - -

Ismail Ind 505 12.24 72.88 72.90 69.24 71.99 -0.89 2545 76.90 53.64 15 - 17.5 110R

J D W Sugar 490 2.21 65.93 65.93 65.93 65.93 0.00 500 67.90 60.10 40 - 0 12.5R

Mehran Sugar XD 143 2.97 53.25 53.50 53.00 53.00 -0.25 500 58.74 50.07 35 30B 25 10

Mirpurkhas Sugar 70 6.16 60.00 62.15 58.00 58.60 -1.40 206 68.13 41.85 25 10B - -

National Foods 414 25.16 55.34 56.80 52.58 52.58 -2.76 26662 65.29 41.35 - 25B 12 -

Noon Sugar 165 - 11.50 11.12 11.11 11.12 -0.38 253 14.35 10.00 50 10B - -

Premier Sugar 38 6.72 38.20 36.60 36.60 36.60 -1.60 295 43.60 36.00 30 - - -

Punjab Oil 38 5.28 37.10 38.95 38.95 38.95 1.85 500 38.95 32.80 15 25B - -

Quice Food 107 - 2.25 2.20 2.15 2.15 -0.10 2500 3.00 1.60 - - - -

Shak(RCPf)8.5 Perc 346 - 4.52 3.71 3.52 3.71 -0.81 1976 9.42 2.51 - - - -

Shakarganj Mills 695 - 4.00 3.80 3.80 3.80 -0.20 5000 5.16 3.02 - - - -

Paid up Last 60 days 2009 2010

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

1,075.22 1,092.48 1,057.63 1,068.66 -6.55 -0.61

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

287,945 - - 6,768.53 mn 39,481.54 mn 1,075.22

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

4.04 1.03 25.35 20.42 5.05 1,060.46

Agriautos Ind 144 5.11 71.35 71.80 69.10 70.00 -1.35 2972 78.39 63.01 40 - 90 -

Atlas BatteryXDXB 101 5.28 142.13 142.00 140.00 140.14 -1.99 1984 209.00 140.00 100 20B 100 20B

Dewan Motors 890 - 1.35 1.49 1.28 1.32 -0.03 21301 2.24 1.16 - - - -

Exide (PAK) 56 4.43 153.35 154.97 154.80 154.80 1.45 120 177.99 121.10 50 - 60 -

General Tyre XD 598 6.25 23.55 24.60 22.80 22.80 -0.75 803 28.80 21.10 - - 20 -

Ghandhara Nissan 450 - 5.57 5.70 5.30 5.47 -0.10 27600 6.60 4.75 - - - -

Ghani Automobile Ind 200 10.00 4.40 4.48 4.20 4.40 0.00 1371 5.70 3.65 - - - -

Honda Atlas Cars 1428 - 11.39 11.45 10.80 11.33 -0.06 10600 14.50 10.05 - - - -

Indus MotorsSPOT 786 5.29 229.88 234.44 229.17 231.83 1.95 14097 287.00 212.29 100 - 150 -

Pak Suzuki 823 9.30 77.00 77.85 74.71 74.88 -2.12 12229 89.99 73.50 5 - - -

Sazgar Engineering 125 4.98 26.50 26.80 26.29 26.47 -0.03 11377 27.85 23.58 - 20B - -

Transmission 117 3.64 2.25 3.25 1.66 2.04 -0.21 183322 3.35 1.61 2 - - -

Paid up Last 60 days 2009 2010

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

1,418.67 1,456.76 1,411.31 1,434.71 16.04 1.13

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

298,951 - - 1,336.62 mn 31,591.58 mn 1,434.71

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

8.86 3.37 38.02 131.49 14.85 1,412.20

Ados Pak 66 2.96 20.68 20.01 20.00 20.00 -0.68 320 22.69 18.90 20 - - -

AL-Ghazi Tractor XD 215 5.08 212.53 214.30 212.00 213.99 1.46 13852 226.10 195.00 400 - 150 -

Bolan Casting 95 8.41 46.40 46.90 45.25 46.50 0.10 3210 46.90 35.25 - 20B - -

Dewan Auto Engineering 214 - 0.50 0.50 0.50 0.50 0.00 1000 0.98 0.36 - - - -

Ghandhara Ind 213 2.48 18.31 18.80 17.56 17.66 -0.65 7309 20.24 15.26 - - - -

Hinopak Motor 124 - 115.00 120.75 120.00 120.00 5.00 123 166.14 108.11 17.15 - - -

KSB Pumps 132 7.97 80.50 80.00 80.00 80.00 -0.50 1797 91.00 61.57 35 - - -

Millat Tractors 293 7.50 577.30 595.99 577.00 585.28 7.98 271285 597.90 466.00 450 25B 650 25B

Paid up Last 60 days 2009 2010

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

894.58 914.31 884.51 905.68 11.10 1.24

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

251,450 - - 3,043.31 mn 33,400.44 mn 906.91

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

2.60 1.14 43.91 15.55 5.97 894.58

Cherat Papersack 92 4.53 48.56 48.60 47.20 47.51 -1.05 47973 51.05 28.87 - - 20 25B

ECOPACK Ltd 230 - 2.00 2.18 1.90 1.96 -0.04 76710 2.89 1.85 - - - -

Ghani Glass 970 6.14 59.49 60.45 59.90 60.00 0.51 33086 61.50 54.65 30 10B 25 10B

Packages Ltd 844 16.56 107.14 110.00 105.00 109.28 2.14 87221 125.96 105.00 32.5 - - -

Siemens Engineering 82 10.11 1114.00 1146.00 1105.00 1134.49 20.49 103 1299.75 981.00 900 - 300 -

Tri-Pack Films 300 7.94 100.00 100.00 97.90 98.90 -1.10 6343 105.00 91.00 100 - - -

Paid up Last 60 days 2009 2010

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

919.77 943.46 899.99 912.47 -7.29 -0.79

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

8,078,479 - - 54,792.74 mn 68,489.29 mn 944.67

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

7.69 0.55 7.10 19.04 2.48 912.47

Al-Abbas Cement 1828 - 3.44 3.69 3.36 3.36 -0.08 35053 4.69 2.82 - - - -

Attock Cement 866 4.89 69.09 69.45 68.55 68.99 -0.10 280027 72.40 63.00 50 20B 17.5 -

Berger Paints 182 - 16.98 17.85 17.00 17.48 0.50 26085 20.00 15.42 - - - 122R

Bestway Cement 3257 - 23.99 25.18 22.80 24.99 1.00 1066 25.18 10.50 - - - -

Cherat Cement 956 - 11.59 11.40 10.75 10.90 -0.69 7006 12.50 8.90 - - - -

Dadabhoy Cement 982 11.69 1.57 1.78 1.30 1.52 -0.05 1617 2.74 1.30 - - - -

Dandot Cement 948 - 2.15 1.65 1.65 1.65 -0.50 397 3.90 1.02 - - - -

Dewan Cement 3574 - 1.45 1.45 1.30 1.34 -0.11 111992 2.20 1.30 - - - -

DG Khan Cement Ltd 3651 34.53 24.96 25.68 24.76 24.86 -0.10 4630030 28.74 23.02 - 20R - 20R

EMCO Ind 350 - 3.44 3.44 2.70 3.44 0.00 2005 5.15 2.40 - - - -

Fauji Cement 6933 12.63 5.25 5.35 5.01 5.05 -0.20 408455 5.50 4.50 - - - -

Flying Cement Ltd 1760 - 2.08 2.06 1.90 1.90 -0.18 91105 2.37 1.75 - - - -

Gharibwal Cement 2319 - 2.68 3.03 2.11 2.96 0.28 124180 7.60 2.11 - - - -

Haydery Const 32 - 1.05 1.23 0.86 1.07 0.02 619 2.00 0.85 - - - -

Javedan Cement 581 - 56.13 58.93 56.05 57.76 1.63 4100 66.10 56.05 - 200R - -

Kohat Cement 1288 - 6.19 6.23 6.12 6.18 -0.01 71560 7.38 5.70 - - - -

Lafarge Pakistan Cmt. 13126 - 2.96 3.12 2.86 2.91 -0.05 1003715 3.53 2.60 - - - -

Lucky Cement 3234 6.28 71.13 72.26 69.75 69.95 -1.18 619254 73.88 61.29 40 - 40 -

Maple Leaf Cement 3723 - 3.20 3.25 3.06 3.06 -0.14 177428 3.84 3.00 - - - -

Pioneer Cement 2228 - 7.96 8.47 7.95 7.98 0.02 59534 8.47 5.60 - - - -

Safe Mix Concrete 200 - 7.85 8.35 6.90 7.40 -0.45 7507 9.47 5.50 - - - -

Shabbir Tiles 361 - 10.10 9.81 9.81 9.81 -0.29 1000 12.23 8.10 - - - -

Thatta Cement 798 - 19.00 20.00 19.00 20.00 1.00 422151 21.80 17.74 - - - -

Paid up Last 60 days 2009 2010

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

1,003.06 1,017.03 980.50 984.79 -18.27 -1.82

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

55,321 - - 3,596.11 mn 9,357.86 mn 1,022.93

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

3.08 1.02 33.10 30.91 10.04 984.79

Crescent Steel XD 565 3.39 24.90 25.00 24.75 25.00 0.10 19544 31.73 24.30 - - 30 -

Dost Steels Ltd 675 - 2.20 2.27 2.10 2.10 -0.10 5500 3.20 1.90 - - - -

Huffaz Pipe 555 5.79 14.00 14.20 13.60 13.83 -0.17 3707 16.00 13.00 - 30B - -

International IndXDXB 1199 4.84 50.98 50.99 49.75 49.75 -1.23 25526 70.71 48.51 - - 40 20B

Siddiqsons Tin 785 6.60 9.90 10.80 9.30 9.31 -0.59 1044 11.25 8.20 10 - - -

Paid up Last 60 days 2009 2010

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

1,197.89 1,216.88 1,180.93 1,193.07 -4.81 -0.40

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

51,598 - - 1,186.83 mn 3,322.11 mn 1,213.46

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

6.32 0.47 7.47 25.28 4.00 1,193.07

Century Paper 707 - 20.86 20.95 20.25 20.47 -0.39 37294 22.70 15.76 - 425R - -

Pak Paper Product 38 6.15 59.51 61.90 58.55 59.06 -0.45 12389 61.90 41.21 20 - 25 33.33B

Security Paper 411 4.73 39.61 40.49 39.60 40.00 0.39 1915 50.40 38.50 50 - 50 -a

Paid up Last 60 days 2009 2010

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

1,151.51 1,157.59 1,137.26 1,139.55 -11.96 -1.04

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

12,902,709 - - 52,251.88 mn 258,719.49 mn 1,151.55

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

7.12 2.49 35.00 48.81 6.86 1,139.55

Agritech Limited 3924 - 24.00 24.40 22.80 23.98 -0.02 102 27.79 21.15 - - - -

Bawany Air 68 1.21 11.99 12.63 11.16 11.89 -0.10 202 16.78 10.06 - - - -

BOC (Pak) XD 250 9.54 75.89 77.90 75.00 75.00 -0.89 14625 82.50 66.90 90 - 15 -

Clariant Pak 273 5.59 162.00 162.80 158.50 159.00 -3.00 390 174.00 146.00 125 - - -

Dawood Hercules 1203 7.82 172.00 173.99 169.10 169.51 -2.49 5137 185.88 155.38 40 10B 20 -

Descon Chemical 1996 - 2.20 2.65 2.10 2.14 -0.06 5407 3.15 1.78 - - - -

Descon Oxychem Ltd. 1020 - 4.14 4.40 3.96 4.01 -0.13 12731 5.45 3.20 - - - -

Dewan Salman 3663 - 1.51 1.51 1.45 1.49 -0.02 315603 2.21 1.41 - - - -

Engro Corp. LtdSPOT 3277 9.14 179.58 180.25 177.95 178.28 -1.30 549582 194.59 165.60 6010B 40R 20 -

Engro Polymer 6635 - 12.24 12.25 12.10 12.10 -0.14 155229 12.75 9.57 - 27.5R - -

Fatima Fertilizer 22000 - 9.55 10.20 9.50 10.01 0.46 536936 12.80 9.02 - - - -

Fauji Fertilizer XD 6785 7.14 105.83 106.00 104.95 105.01 -0.82 455614 113.39 102.75 131.5 10B 75 -

Fauji Fert.Bin Qasim XD 9341 6.95 27.67 27.90 27.27 27.32 -0.35 433179 30.65 25.70 40 - 5 -

Gatron Ind 384 3.73 41.80 43.89 39.98 39.98 -1.82 831 48.30 36.80 - - 20 -

Ghani Gases Ltd 725 - 9.61 10.61 9.80 10.55 0.94 510882 11.45 7.41 - - - -

ICI Pakistan XD 1388 7.15 123.98 124.00 119.50 119.95 -4.03 376696 128.30 109.50 80 - 55 -

Lotte Pakistan 15142 3.00 8.80 9.07 8.60 8.65 -0.15 9890743 9.09 6.75 5 - - -

Nimir Ind Chemical 1106 72.00 1.50 1.54 1.42 1.44 -0.06 163335 1.81 1.16 - - - -

Shaffi Chemical 120 1.24 2.72 2.65 2.60 2.60 -0.12 503 3.80 2.00 - - - -

Sitara Peroxide 551 - 8.94 8.90 8.60 8.66 -0.28 16494 11.09 8.22 - - - -

United Distributors 92 3.38 16.50 17.40 15.70 15.70 -0.80 201 17.99 14.00 10 10B - -

Wah-Noble 90 4.63 45.11 45.79 45.10 45.15 0.04 605 48.00 41.10 50 - - -

Paid up Last 60 days 2009 2010

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

828.45 836.52 818.42 825.62 -2.83 -0.34

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

60,785 - - 3,904.20 mn 27,864.19 mn 828.45

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

6.49 1.45 22.31 44.54 6.86 816.72

Abbott (Lab) 979 7.86 89.26 90.00 89.00 89.64 0.38 8170 95.50 77.00 120 - 20 -

Ferozsons (Lab) 208 6.86 105.87 110.00 102.50 104.48 -1.39 3621 124.00 96.00 10 20B - 20B

GlaxoSmithKline 1707 12.38 68.49 68.65 67.77 68.57 0.08 14860 84.27 65.40 50 - - -

Highnoon (Lab) 165 6.52 24.20 24.50 24.00 24.00 -0.20 16240 25.79 22.10 25 - - -

IBL HealthCare Ltd 200 - 7.67 8.10 8.00 8.00 0.33 156 8.66 6.10 - - - -

Searle Pak 306 5.72 63.26 64.00 61.55 61.80 -1.46 17633 64.05 53.36 15 15B - -

Wyeth Pak 142 - 940.00 940.00 939.99 940.00 0.00 105 1159.00 890.00 - - - -

Paid up Last 60 days 2009 2010

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

708.70 716.97 683.79 696.08 -12.61 -1.78

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

21,010 - - 3,242.17 mn 12,763.33 mn 721.60

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

5.66 1.44 25.53 11.08 1.96 696.08

Pak Int Cont. Terminal XD 1092 8.27 69.08 70.10 66.00 67.42 -1.66 3560 87.86 66.00 - 20B 40 -

PNSC 1321 5.32 38.92 39.00 38.70 39.00 0.08 17450 41.74 34.50 30 - 15 -

Paid up Last 60 days 2009 2010

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

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

BOOK CLOSURES

Husein Sugar Mills # 22-Sep 28-Sep - - 29-SepPakistan State Oil 22-Sep 29-Sep - - -Bank of Punjab 23-Sep 29-Sep - - 30-SepEngro Corp (Consolidated) 23-Sep 30-Sep 20(I) 15-Sep -First Prudential Modaraba 23-Sep 30-Sep - - 30-SepJS Investments 23-Sep 30-Sep - - 30-SepPakistan Hotels Developments 23-Sep 30-Sep - - 30-SepStandard Chartered Mod 23-Sep 1-Oct 17 - -Unilever Pak Foods 23-Sep 29-Sep 350(I) 15-Sep -Indus Motor 24-Sep 30-Sep 100(F) 16-Sep 30-SepIttehad Chemical 24-Sep 30-Sep 5 16-Sep 30-SepArif Habib 25-Sep 2-Oct 20(B) 17-Sep 2-OctCap Asst Leasing Corp 26-Sep 2-Oct - - 2-OctEye Television Network # 29-Sep 5-Oct - - 30-SepKohinoor Power # 29-Sep 5-Oct - - 29-SepPak Int Cont Terminal 29-Sep 6-Oct 25(F) 21-Sep 6-OctPak Int Cont Terminal (Pref) 29-Sep 6-Oct 10(F) 21-Sep -Adamjee Insurance 30-Sep 6-Oct 10(I) 22-Sep -Shifa Int Hospitals 1-Oct 7-Oct 15(F) - 7-OctSana Industries 2-Oct 9-Oct 60 - 9-OctMillat Tractors 4-Oct 15-Oct 350(F),25(B) - 15-OctAtlas Engineering 5-Oct 11-Oct - - 11-OctDescon Chemicals 6-Oct 12-Oct - - 12-Oct

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan CablesXD 52 54.5 51.2 54.4 2.4 3886TRG Pakistan Ltd. 3.68 3.85 3.6 3.62 -0.06 797261Grays of Cambridge 60.55 58.05 57.96 58 -2.55 403Lakson Tobacco 210.09 220.59 202 220.59 10.5 59926Pak Tobacco 111 114.97 110.3 113.95 2.95 902Eye Television 21.96 22 21.5 21.95 -0.01 5928P.I.A.C.(A) 2.13 2.23 2.07 2.07 -0.06 54232AKD Capital 43.47 44.5 41.3 41.42 -2.05 7276Pace (Pak) Ltd. 2.6 2.64 2.53 2.55 -0.05 153921Netsol Technol. 19.08 19.47 18.92 19 -0.08 506194

Symbols Open High Low Close Change Vol

Wednesday, September 22, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -71.08 points at 9,992.50. Volume was 13

per cent above average and Bollinger Bands were 17 per cent narrower

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

major 1st resistance level at 10,081.00 and 2nd resistance level at

10,169.50, while Index will continue to find its 1st support level at

9,942.55 and 2nd support level at 9,892.55.

KSE 100 INDEX is currently 1.1 per cent above its 200-day moving aver-

age and is displaying an upward trend. Volatility is low as compared to the

average volatility over the last 10 trading sessions. Volume indicators

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

Trend forecasting oscillators are currently bullish on INDEX.

RSI (14-day) 54.81 Support 1 9,942.55

MA (5-day) 10,034.55 Support 2 9,892.55

MA (10-day) 9,948.87 Resistance 1 10,081.00

MA (100-day) 9,905.58 Resistance 2 10,169.50

MA (200-day) 9,885.11 Pivot 10,031.05

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed down -0.10 at 24.86. Volume was 67 per cent above aver-

age and Bollinger Bands were 31 per cent narrower than normal.

DGKC is currently 10.3 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bullish on DGKC.

*Arif Habib Ltd 44 Buy

AKD Securities Ltd 44.13 Buy

TFD Research 36.85 Positive

RSI (14-day) 45.45 Free Float Shares (mn) 182.55

MA (10-day) 25.67 Free Float Rs (mn) 4,538.18

MA (100-day) 25.21 ** NOI Rs (mn) 29.28

MA (200-day) 27.72 Mean 25.07

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

United Bank Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

UBL closed down -1.34 at 51.50. Volume was 240 per cent above average

(trending) and Bollinger Bands were 39 per cent narrower than normal.

UBL is currently 12.3 per cent below its 200-day moving average and is

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

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

erate flows of volume out of UBL (mildly bearish). Trend forecasting oscil-

lators are currently bearish on UBL.

*Arif Habib Ltd 77 Buy

AKD Securities Ltd 63 Accumulate

TFD Research 78.44 Positive

RSI (14-day) 33.18 Free Float Shares (mn) 306.04

MA (10-day) 54.02 Free Float Rs (mn) 15,761.31

MA (100-day) 55.10 ** NOI Rs (mn) 1.10

MA (200-day) 58.71 Mean 52.13

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed down -1.64 at 47.12. Volume was 16 per cent below average

and Bollinger Bands were 11 per cent narrower than normal.

NML is currently 13.2 per cent below its 200-day moving average and is dis-

playing 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 forecasting oscil-

lators are currently bullish on NML.

*Arif Habib Ltd 65 Buy

AKD Securities Ltd 61.46 Buy

TFD Research 74.2 Positive

RSI (14-day) 54.97 Free Float Shares (mn) 175.80

MA (10-day) 46.41 Free Float Rs (mn) 8,283.69

MA (100-day) 47.28 ** NOI Rs (mn) 24.85

MA (200-day) 54.29 Mean 47.97

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed up 0.07 at 33.51. Volume was 19 per cent below average

and Bollinger Bands were 73 per cent wider than normal.

HUBC is currently 0.1 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bearish on HUBC.

*Arif Habib Ltd 48 Buy

AKD Securities Ltd 46 Buy

TFD Research 44.9 Positive

RSI (14-day) 36.08 Free Float Shares (mn) 810.01

MA (10-day) 34.46 Free Float Rs (mn) 27,143.37

MA (100-day) 34.10 ** NOI Rs (mn) 0.68

MA (200-day) 33.55 Mean 33.49

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -1.58 at 64.92. Volume was 38 per cent below average

and Bollinger Bands were 14 per cent narrower than normal.

NBP is currently 0.5 per cent below its 200-day moving average and is dis-

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

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

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

oscillators are currently bullish on NBP.

*Arif Habib Ltd 78 Buy

AKD Securities Ltd 64.64 Neutral

TFD Research 92.3 Positive

RSI (14-day) 49.30 Free Float Shares (mn) 318.37

MA (10-day) 64.82 Free Float Rs (mn) 20,668.38

MA (100-day) 66.42 ** NOI Rs (mn) 36.60

MA (200-day) 73.11 Mean 65.71

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Bank Al-Falah Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

BAFL closed down -0.18 at 8.07. Volume was 21 per cent below average

and Bollinger Bands were 67 per cent narrower than normal.

BAFL is currently 27.1 per cent below its 200-day moving average and is

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

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

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

Trend forecasting oscillators are currently bearish on BAFL.

*Arif Habib Ltd 14 Buy

AKD Securities Ltd 12.47 Buy

TFD Research 14.01 Positive

RSI (14-day) 41.09 Free Float Shares (mn) 674.58

MA (10-day) 8.07 Free Float Rs (mn) 5,443.85

MA (100-day) 9.22 ** NOI Rs (mn) N/A

MA (200-day) 11.07 Mean 8.17

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis Leverage Position

Pakistan Petroleum Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PPL closed down -1.57 at 172.95. Volume was 11 per cent above average

and Bollinger Bands were 172 per cent wider than normal.

PPL is currently 11.1 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

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

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

casting oscillators are currently bearish on PPL. Momentum oscillator is

currently indicating that PPL is currently in an oversold condition.

*Arif Habib Ltd 230 Buy

TFD Research 239.15 Positive

RSI (14-day) 22.96 Free Float Shares (mn) 247.57

MA (10-day) 202.48 Free Float Rs (mn) 42,817.26

MA (100-day) 194.69 ** NOI Rs (mn) 49.73

MA (200-day) 194.59 Mean 173.91

* Target price for Dec-10 & **Net Open Interest in future market

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,003.17 1,033.51 998.46 1,013.04 9.87 0.98

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

2,263,398 - - 29,771.58 mn 17,380.98 mn 1,013.04

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

6.77 0.28 4.09 183.19 27.05 995.42

1st Fid Leasing 264 - 1.40 1.40 1.40 1.40 0.00 359 2.23 1.01 - - - -

Allied Rental 600 3.35 15.25 16.23 15.50 15.50 0.25 3500 16.23 12.50 15 - 22.5 -

AL-Meezan Mutual F. 1375 2.70 6.87 7.03 6.72 7.00 0.13 76780 7.25 6.35 - - 18.5 -

AL-Noor Modaraba 210 6.04 3.20 3.20 2.55 3.20 0.00 4500 3.49 2.10 - - 5 -

Atlas Fund of Funds 525 1.98 3.75 3.51 3.50 3.50 -0.25 1100 4.99 2.53 - - - -

B R R Guardian Mod. 780 - 1.23 1.24 1.11 1.14 -0.09 2001 2.43 0.90 - - - -

Crescent St Modaraba 200 1.74 0.46 0.58 0.47 0.47 0.01 156 0.90 0.16 - - - -

Elite Cap Modaraba 113 3.73 2.65 2.65 2.65 2.65 0.00 1700 3.59 1.60 4.5 - - -

Equity Modaraba 524 9.08 1.04 1.18 1.18 1.18 0.14 601 1.68 0.76 - - - -

First Capital Mutual F. 300 2.90 2.20 2.70 2.10 2.70 0.50 358136 3.00 0.99 - - - -

First Dawood Mutual F. 581 - 1.75 1.75 1.70 1.75 0.00 8502 2.09 1.00 - - - -

Golden Arrow 760 3.91 3.56 3.65 3.50 3.60 0.04 841576 3.74 2.32 - - 17 -

H B L Modaraba 397 4.93 5.75 6.00 5.84 5.91 0.16 2000 6.49 4.80 5 - - -

Habib Modaraba 1008 4.61 6.14 6.13 6.13 6.13 -0.01 501 7.49 5.56 20 - 21 -

JS Growth Fund 3180 40.25 3.18 3.25 3.20 3.22 0.04 26598 4.39 2.70 - - 5 -

JS Value Fund 1186 - 2.99 3.18 2.85 2.86 -0.13 20351 3.98 2.31 10 - 10 -

KASB Modaraba 283 1.90 1.23 1.35 1.17 1.35 0.12 2504 2.44 0.52 - - - -

Nat Bank Modaraba 250 7.04 7.63 7.75 7.49 7.60 -0.03 500 8.45 6.10 - - - -

Pak Prem Fund XD 1698 3.43 7.30 8.00 7.06 7.20 -0.10 72754 9.86 7.03 - - 18.6 -

Pak Strat Fund 3000 5.10 6.51 6.55 6.51 6.53 0.02 275000 8.10 6.01 - - 11.53 -

PICIC Energy Fund 1000 2.54 4.55 4.84 4.55 4.78 0.23 1025 6.49 4.00 - - 5 -

PICIC Growth Fund 2835 2.37 8.83 8.91 8.60 8.63 -0.20 18867 10.55 7.60 - - 20 -

PICIC Inv Fund XD 2841 1.98 3.80 4.00 3.80 3.92 0.12 435257 5.00 3.50 - - 10 -

Prud Modaraba 1stSPOT 872 2.74 1.10 1.10 1.01 1.04 -0.06 43501 1.20 0.70 - - 3 -

Punjab Modaraba 340 - 0.82 1.20 1.19 1.19 0.37 489 2.00 0.57 - - - -

Stand Chart Mod. SPOT 454 5.75 10.27 10.25 10.10 10.12 -0.15 65130 10.99 8.25 16.5 - 17 -

Paid up Last 60 days 2009 2010

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

373.07 379.41 359.71 363.59 -9.48 -2.54

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

8,477,183 - - 30,336.44 mn 26,675.58 mn 376.60

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

0.46 0.17 37.22 4.60 9.90 363.59

AMZ Ventures 225 - 0.71 0.74 0.60 0.60 -0.11 514605 1.19 0.55 - - - -

Arif Habib Invest. XB 360 7.01 15.37 15.25 15.00 15.00 -0.37 30526 20.99 14.26 - - - 20B

Arif Habib LimitedSPOT 375 8.25 33.56 34.00 33.00 33.10 -0.46 69649 50.12 26.80 15 25B - 20B

Arif Habib Securities 3750 2.23 23.57 23.86 22.45 22.58 -0.99 2963594 35.65 21.76 - - 30 -

Arpak Int 40 - 9.94 10.25 8.94 8.94 -1.00 713 29.14 8.94 - - - -

Dawood Cap Mang.XB 150 6.16 1.06 1.74 1.00 1.17 0.11 5012 3.30 0.50 - - - -

Dawood Equities 250 - 2.05 2.21 1.78 2.21 0.16 1505 3.36 1.55 - - - -

Invest and Fin Sec 600 2.79 7.02 8.02 7.08 8.02 1.00 113103 8.50 6.80 - - 11.5 -

Ist Cap Securities 2878 - 4.00 4.00 3.71 3.97 -0.03 14538 5.90 3.10 - 10B - -

Ist Dawood Bank 626 - 1.58 1.68 1.50 1.65 0.07 60001 1.95 1.17 - - - -

Jah Siddiq Co 7633 14.65 10.37 10.55 10.10 10.11 -0.26 2527411 15.47 9.36 -243.778B 10 -

JOV and CO 508 - 3.26 3.36 2.89 2.92 -0.34 2017862 6.48 2.89 - - - -

JS Global Cap 500 - 38.01 38.45 36.80 36.86 -1.15 6397 42.40 33.33 150 - - -

JS Investment 1000 13.20 6.00 6.20 5.91 5.94 -0.06 57019 8.65 5.40 - - - -

KASB Securities 1000 - 3.61 3.95 3.60 3.73 0.12 212 5.49 3.20 - - - -

Orix Leasing 821 - 5.30 5.70 5.06 5.22 -0.08 30862 5.99 3.66 - - - -

Pervez Ahmed Sec 775 - 1.62 1.68 1.51 1.54 -0.08 58525 2.89 1.35 -231.08R - -

Stand Chart Leasing 978 4.77 2.64 2.44 2.01 2.10 -0.54 1015 3.89 1.41 - - - -

Trust Inv Bank 586 - 2.50 2.50 2.50 2.50 0.00 4500 4.25 1.55 - - - -

Paid up Last 60 days 2009 2010

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

843.84 869.65 840.16 843.76 -0.08 -0.01

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

5,685 - - 2,290.72 mn 8,976.76 mn 843.84

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

87.38 3.36 3.85 355.53 4.07 826.03

EFU Life Assurance XB 850 33.07 61.90 62.90 60.01 60.84 -1.06 5418 84.99 51.25 5513.33B - -

New Jub Life Insurance 627 54.38 43.17 44.88 43.50 43.50 0.33 192 46.00 34.50 10 - - -

Paid up Last 60 days 2009 2010

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

955.14 964.65 931.93 935.99 -19.15 -2.00

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

8,752,131 - - 257,548.02 mn 577,824.48 mn 965.55

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

6.79 0.91 13.45 34.35 5.06 935.99

Allied Bank Limited 7821 5.59 52.26 52.50 51.75 51.75 -0.51 67210 59.70 48.51 40 10B 20 -Askari Bank 6427 6.09 15.02 15.35 14.70 14.74 -0.28 343644 17.46 13.99 - 20B - -Atlas Bank 5001 - 1.87 2.04 1.85 1.88 0.01 8100 3.00 1.52 - - - -Bank Alfalah 13492 10.76 8.25 8.34 8.02 8.07 -0.18 977805 10.25 7.32 8 - - -Bank AL-Habib 7322 6.58 30.60 31.14 30.51 30.54 -0.06 60500 34.00 29.10 20 20B - -Bank Of Khyber 5004 3.12 3.12 3.30 3.11 3.12 0.00 20897 4.75 3.00 - - - -Bank Of Punjab 5288 - 8.83 8.98 8.60 8.63 -0.20 1007357 11.24 7.35 - - - -BankIslami Pak 5280 - 3.48 3.49 3.25 3.25 -0.23 17445 3.90 2.31 - - - -Faysal Bank 6091 3.12 13.82 14.00 13.50 13.56 -0.26 148210 15.95 12.75 - - - -Habib Bank Ltd 10019 6.10 96.81 97.40 94.50 94.79 -2.02 50731 109.10 92.00 60 10B - -Habib Metropolitan Bank 8732 5.79 19.40 20.00 19.52 19.56 0.16 5037 24.25 18.70 10 16B - -JS Bank Ltd 6128 - 2.36 2.50 2.32 2.44 0.08 298795 3.00 2.00 - - - 66RKASB Bank Ltd 9509 - 2.40 2.49 2.25 2.31 -0.09 5307 4.40 2.03 - 26B - -MCB Bank Ltd XD 7602 8.68 190.93 192.50 185.80 186.18 -4.75 618659 214.99 180.40 110 10B 55 -Meezan Bank 6983 7.26 14.95 15.00 14.53 14.95 0.00 24359 16.50 13.80 - 5B - -Mybank Ltd 5304 - 2.24 2.20 2.06 2.18 -0.06 69767 3.28 1.62 - - - -National Bank 13455 5.45 66.50 66.85 64.55 64.92 -1.58 1340523 73.89 60.51 75 25B - -NIB Bank 40437 - 2.75 2.77 2.70 2.72 -0.03 513220 3.50 2.42 - - - -Samba Bank 14335 - 1.95 2.04 1.81 1.83 -0.12 2193 2.90 1.55 - - -63.46RSilkbank Ltd 9003 12.32 2.73 2.76 2.70 2.71 -0.02 383295 3.30 2.15 - - - -Soneri Bank 6023 - 5.77 5.85 5.55 5.61 -0.16 13738 8.50 5.46 - - - -Stand Chart Bank 38716 9.71 6.90 6.80 6.80 6.80 -0.10 18202 8.50 6.05 - - - -Summit Bank Ltd 5000 - 2.75 2.85 2.58 2.65 -0.10 26780 4.38 2.40 - - - -United Bank Ltd 12242 6.06 52.84 53.15 51.01 51.50 -1.34 2757133 60.20 51.01 25 10B 10 -

Paid up Last 60 days 2009 2010

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

646.71 651.36 629.75 634.83 -11.88 -1.84

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

516,363 - - 11,111.34 mn 41,186.01 mn 646.71

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

10.36 0.54 5.20 79.54 7.68 634.42

Adamjee Insurance 1237 12.61 70.71 71.34 69.10 69.37 -1.34 164218 89.90 64.00 30 10B 10 -

Paid up Last 60 days 2009 2010

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

1,424.20 1,492.97 1,406.54 1,471.11 46.91 3.29

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

10,405,592 - - 12,202.80 mn 33,044.46 mn 1,471.11

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

10.66 1.22 11.41 66.79 6.26 1,330.42

Sui North Gas 5491 17.52 29.54 30.90 28.80 29.78 0.24 9676353 30.90 25.00 - - - -Sui South Gas 6712 - 23.69 24.87 23.60 24.87 1.18 729239 24.87 15.80 - - - -

Paid up Last 60 days 2009 2010

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

1,155.55 1,163.45 1,140.55 1,150.02 -5.53 -0.48

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

10,362,123 - - 95,369.29 mn 97,303.26 mn 1,160.74

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

12.95 1.21 9.35 104.13 8.04 1,150.02

Altern Energy 3426 574.50 11.50 11.49 10.50 11.49 -0.01 3001 12.50 7.51 - - - -Genertech 198 - 0.85 0.97 0.66 0.80 -0.05 35892 1.53 0.51 - - - -Hub Power XD 11572 6.21 33.44 33.65 33.36 33.51 0.07 1370841 37.24 31.50 33.5 - 50 -Japan Power 1560 - 1.54 1.51 1.40 1.41 -0.13 140797 2.38 0.70 - - - -KESC 7932 - 2.05 2.06 1.95 2.01 -0.04 535117 2.63 1.92 - 31R - 7.8RKohinoor Energy 1695 4.77 24.78 25.48 24.50 24.51 -0.27 56000 26.65 23.00 45 - - -Kohinoor Power 126 2.97 5.80 5.50 5.35 5.35 -0.45 947 7.00 3.90 - - - -Kot Addu Power 8803 7.26 42.56 42.60 41.80 41.97 -0.59 537141 44.85 39.51 64.5 - 50 -Nishat Chunian Power Ltd 3673 - 10.64 10.90 10.50 10.52 -0.12 773044 10.90 8.60 - - - -Nishat Power Ltd 3541 78.57 11.53 11.73 10.80 11.00 -0.53 6815579 11.85 9.25 - - - -Sitara Energy Ltd 191 3.69 21.62 22.00 22.00 22.00 0.38 200 23.48 20.00 20 - - -Southern Electric 1367 1.25 2.75 2.85 2.60 2.60 -0.15 87562 3.21 2.21 - - - -Tri-star Power XD 150 - 0.85 1.25 0.70 1.13 0.28 6001 1.69 0.33 3 - - -

Paid up Last 60 days 2009 2010

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

1,100.44 1,108.70 1,081.76 1,086.05 -14.39 -1.31

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

8,894,710 - - 50,077.79 mn 76,580.36 mn 1,110.71

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

6.00 0.77 12.84 62.56 10.42 1,086.05

Pakistan Telecomm Co A 37740 8.90 18.93 19.00 18.62 18.68 -0.25 707613 20.22 17.20 15 - 17.5 -Telecard 3000 - 2.16 2.26 2.09 2.10 -0.06 237782 3.18 2.06 - - - -WorldCall Tele 8606 - 2.45 2.54 2.37 2.41 -0.04 7949314 3.30 2.30 - - - -Wateen Telecom Ltd 6175 - 4.11 4.10 4.02 4.02 -0.09 39229 6.49 3.80 - - - -

Paid up Last 60 days 2009 2010

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

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

Atlas Insurance 369 4.53 30.75 30.68 29.25 30.68 -0.07 8121 31.00 27.10 40 10B - -

Central InsuranceXDXB 279 5.28 52.00 52.00 50.01 51.01 -0.99 1020 64.90 48.05 20 25B 10 10B

EFU General Ins. XB 1250 30.75 40.01 40.46 38.50 38.75 -1.26 22461 55.20 35.52 40 8.7B - -

Habib Insurance 400 7.65 11.94 11.90 11.01 11.01 -0.93 10100 13.89 10.78 35 - - -

IGI Insurance XD 718 12.64 71.13 72.00 71.00 71.54 0.41 113829 79.10 66.02 35 - 10 20B

Pak Reinsurance 3000 - 14.33 14.43 13.80 13.87 -0.46 171895 19.40 12.50 30 - - -

PICIC Ins Ltd 350 53.25 2.35 2.20 1.66 2.13 -0.22 6388 4.16 1.66 - - - -

Premier Insurance 303 5.02 9.00 9.75 8.60 9.63 0.63 14129 10.60 8.11 20 15B - -

Silver Star Insurance 253 1.62 6.81 7.00 6.50 6.53 -0.28 4101 10.00 6.00 - 20B - -

UPTO 100 VOLUME

UNIC 5.49 5.49 5.49 5.49 0.00 100

GSPM 7.00 6.75 6.75 6.75 -0.25 100

ATLH 99.20 98.65 98.65 98.65 -0.55 100

BAFS 54.00 51.50 51.50 51.50 -2.50 99

SLYT 3.95 4.15 3.36 3.95 0.00 97

AASM 29.49 28.25 28.25 28.25 -1.24 90

COLG 717.13 743.00 720.00 721.00 3.87 89

BUXL 13.19 13.85 12.19 12.99 -0.20 76

EWLA 2.25 2.80 2.80 2.80 0.55 75

ESBL 2.80 2.99 2.80 2.80 0.00 71

BWHL 31.61 33.15 30.03 30.56 -1.05 69

PECO 299.80 300.00 285.19 299.69 -0.11 55

SHFA 33.95 34.50 34.29 34.29 0.34 55

SING 21.05 21.90 20.00 21.00 -0.05 51

FNEL 10.75 9.75 9.75 9.75 -1.00 50

COTT 1.50 1.99 1.92 1.92 0.42 50

MUREB 88.52 88.52 86.15 88.29 -0.23 49

MTIL 0.79 0.80 0.10 0.34 -0.45 36

BATA 495.00 503.75 497.25 503.75 8.75 35

JKSM 6.42 7.25 6.00 6.46 0.04 34

UPFL 1020.00 1071.00 1020.07 1068.00 48.00 30

PRWM 19.50 19.00 18.52 18.81 -0.69 25

RMPL 1475.00 1445.00 1401.76 1420.70 -54.30 24

SMTM 6.24 5.61 5.61 5.61 -0.63 22

CLOV 36.90 38.74 38.74 38.74 1.84 20

SCL 58.88 55.98 55.98 55.98 -2.90 19

TSML 32.21 32.90 30.60 32.14 -0.07 18

FZTM 343.26 360.00 330.40 336.67 -6.59 15

NESTLE 1856.35 1890.00 1826.05 1830.05 -26.30 15

MACFL 3.10 3.30 2.55 2.88 -0.22 13

PNGRS 5.20 5.00 5.00 5.00 -0.20 10

SANSM 14.00 13.94 13.94 13.94 -0.06 10

DADX 23.65 24.83 23.19 23.19 -0.46 10

BIFO 33.60 34.00 34.00 34.00 0.40 10

ULEVER 4000.00 4200.00 3952.00 3972.00 -28.00 10

BGL 1.50 1.86 1.86 1.86 0.36 10

IGIBL 1.73 1.85 1.65 1.74 0.01 9

SITC 122.80 123.00 120.01 120.51 -2.29 6

MODAM 1.15 1.22 1.22 1.22 0.07 5

CSUML 3.45 3.75 3.45 3.75 0.30 5

MDTL 55.10 57.80 56.00 57.80 2.70 5

MWMP 1.93 1.90 1.40 1.88 -0.05 5

RBS 6.22 6.49 6.30 6.40 0.18 4

KSTM 0.75 1.20 0.40 0.80 0.05 4

PGCL 19.19 19.48 19.41 19.43 0.24 3

PHDL 63.91 63.91 60.72 60.72 -3.19 3

FTSM 4.00 4.79 4.00 4.00 0.00 2

SLCL 2.40 2.40 2.40 2.40 0.00 2

NOPK 24.70 25.40 23.70 23.70 -1.00 2

FRCL 2.88 2.88 2.88 2.88 0.00 2

KCL 6.47 5.47 5.47 5.47 -1.00 2

DIIL 17.49 18.49 17.40 17.40 -0.09 2

ASFL 2.80 3.80 3.80 3.80 1.00 1

TSMF 1.05 1.97 1.90 1.90 0.85 1

FCONM 2.34 2.86 2.85 2.85 0.51 1

SPLC 0.69 0.60 0.60 0.60 -0.09 1

ICIBL 0.67 0.75 0.69 0.69 0.02 1

UVIC 3.50 3.70 3.70 3.70 0.20 1

AZAMT 1.76 1.99 1.99 1.99 0.23 1

DWTM 5.00 4.05 4.00 4.05 -0.95 1

HAJT 0.60 0.35 0.31 0.35 -0.25 1

JATM 3.10 2.10 2.10 2.10 -1.00 1

SANE 2.00 1.75 1.75 1.75 -0.25 1

NCLNCP 20.00 20.39 20.39 20.39 0.39 1

GATM 20.69 21.65 21.65 21.65 0.96 1

MOON 12.40 12.80 12.50 12.50 0.10 1

SHJS 47.01 46.26 46.26 46.26 -0.75 1

TICL 61.00 64.00 64.00 64.00 3.00 1

SGPL 0.67 0.41 0.40 0.41 -0.26 1

JOPP 9.18 10.18 10.18 10.18 1.00 1

PAKD 112.50 114.25 114.25 114.25 1.75 1

LPGL 10.00 10.00 10.00 10.00 0.00 1

MERIT 14.89 15.35 15.35 15.35 0.46 1

GLPL 68.00 68.00 68.00 68.00 0.00 1

MFFL 65.99 68.16 68.16 68.16 2.17 1

DREL 454.00 476.70 476.70 476.70 22.70 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

DGKC-SEP 24.99 25.65 24.80 24.96 -0.03 507,500

NML-SEP 48.86 49.00 47.00 47.15 -1.71 343,500

DGKC-OCT 25.11 25.80 25.00 25.04 -0.07 306,500

NBP-SEP 66.47 66.86 64.67 64.89 -1.58 245,000

PSO-SEP 264.99 268.30 262.61 262.95 -2.04 233,500

MCB-SEP 191.27 192.45 186.02 186.32 -4.95 213,500

POL-SEP 238.44 238.98 234.55 234.92 -3.52 198,500

PPL-SEP 174.03 175.00 172.25 172.39 -1.64 169,500

ANL-SEP 10.63 10.95 10.46 10.48 -0.15 118,000

NBP-OCT 67.75 66.80 64.70 64.80 -2.95 97,000

MCB-OCT 191.19 192.00 185.99 186.13 -5.06 84,000

ANL-OCT 10.65 10.90 10.55 10.55 -0.10 75,500

ENGRO-SEP 177.05 177.25 175.27 175.48 -1.57 74,000

PSO-OCT 265.33 268.20 262.00 262.04 -3.29 71,000

PTC-SEP 18.98 18.70 18.70 18.70 -0.28 60,000

POL-OCT 238.98 239.00 235.00 235.14 -3.84 52,500

NML-OCT 47.50 48.75 45.50 45.74 -1.76 52,000

LUCK-SEP 70.80 71.44 70.00 70.02 -0.78 43,500

PPL-OCT 174.02 174.90 172.26 172.63 -1.39 38,000

AICL-SEP 70.77 71.40 69.10 69.33 -1.44 34,000

OGDC-SEP 145.45 145.50 144.55 145.02 -0.43 27,500

LUCK-OCT 72.47 71.00 67.51 67.55 -4.92 23,500

ENGRO-OCT 176.99 176.70 175.00 175.00 -1.99 20,500

OGDC-OCT 145.50 145.00 144.00 144.00 -1.50 8,000

BOP-OCT 9.00 9.00 8.85 8.85 -0.15 6,000

PTC-OCT 19.29 19.00 19.00 19.00 -0.29 5,000

NCL-SEP 17.02 17.10 17.10 17.10 0.08 2,500

UBL-SEP 53.00 52.15 52.15 52.15 -0.85 2,000

FFC-SEP 106.12 106.12 106.12 106.12 0.00 2,000

AICL-OCT 72.04 68.51 68.51 68.51 -3.53 500

Symbols Open High Low Close Change Vol

Al-Abbas Cement 43.86 3.25 3.15 3.60 3.80 3.45

Allied Bank Limited 45.53 51.50 51.25 52.25 52.75 52.00

Attock Cement 58.46 68.55 68.10 69.45 69.90 69.00

Arif Habib Limited 51.88 32.75 32.35 33.75 34.35 33.35

Arif Habib Securities 36.56 22.05 21.55 23.45 24.35 22.95

Adamjee Insurance 42.27 68.55 67.70 70.80 72.20 69.95

Askari Bank 49.06 14.50 14.30 15.15 15.60 14.95

Azgard Nine 52.44 10.25 10.05 10.80 11.15 10.60

Attock Petroleum 60.99 321.55 319.05 328.05 332.05 325.55

Attock Refinery 52.81 82.30 81.25 85.20 87.05 84.15

Bank Al-Falah 41.09 7.95 7.80 8.25 8.45 8.15

BankIslami Pak 54.43 3.15 3.10 3.40 3.55 3.35

Bank.Of.Punjab 53.57 8.50 8.35 8.90 9.10 8.75

Dewan Cement 34.81 1.25 1.20 1.40 1.50 1.35

D.G.K.Cement 45.45 24.50 24.20 25.45 26.00 25.10

Dewan Salman 43.55 1.45 1.40 1.55 1.60 1.50

Dost Steels Ltd 42.76 2.05 2.00 2.20 2.35 2.15

EFU General Insurance 40.02 38.00 37.30 40.00 41.20 39.25

EFU Life Assurance 44.47 59.60 58.35 62.50 64.15 61.25

Engro Chemical 54.11 177.40 176.55 179.70 181.15 178.85

Faysal Bank 45.30 13.40 13.20 13.90 14.20 13.70

Fauji Cement 49.60 4.95 4.80 5.25 5.50 5.15

Fauji Fert Bin 41.54 27.10 26.85 27.75 28.15 27.50

Fauji Fertilizer 46.19 104.65 104.25 105.70 106.35 105.30

Habib Bank Ltd 41.89 93.70 92.65 96.60 98.45 95.55

Hub Power 36.08 33.35 33.20 33.65 33.80 33.50

ICI Pakistan 48.87 118.30 116.65 122.80 125.65 121.15

Indus Motors 48.02 229.20 226.55 234.45 237.10 231.80

J.O.V.and CO 28.13 2.75 2.60 3.25 3.55 3.05

Japan Power 38.85 1.40 1.35 1.50 1.55 1.45

JS Bank Ltd 59.34 2.35 2.25 2.50 2.60 2.40

Jah Siddiq Co 44.21 9.95 9.80 10.40 10.70 10.25

Kot Addu Power 52.08 41.65 41.30 42.45 42.90 42.10

K.E.S.C 42.03 1.95 1.90 2.05 2.10 2.00

Lucky Cement 54.08 69.05 68.15 71.55 73.15 70.65

MCB Bank Ltd 43.26 183.80 181.45 190.50 194.85 188.15

Maple Leaf Cement 41.41 3.00 2.95 3.20 3.30 3.10

National Bank 49.30 64.05 63.15 66.35 67.75 65.45

Nishat (Chunian) 45.07 15.60 15.15 16.80 17.60 16.40

Netsol Technologies 38.69 18.80 18.60 19.35 19.70 19.15

NIB Bank 47.88 2.70 2.65 2.80 2.85 2.75

Nimir Ind.Chemical 47.77 1.40 1.35 1.50 1.60 1.45

Nishat Mills 54.97 46.40 45.70 48.40 49.70 47.70

Oil & Gas Dev. XD 56.67 145.30 144.50 146.75 147.45 146.00

PACE (Pakistan) Ltd. 40.76 2.50 2.45 2.60 2.70 2.55

Pervez Ahmed Sec 37.61 1.50 1.40 1.65 1.75 1.60

P.I.A.C.(A) 38.55 2.00 1.95 2.15 2.30 2.10

Pioneer Cement 57.74 7.80 7.60 8.30 8.65 8.15

Pak Oilfields 62.45 233.00 231.25 237.75 240.75 236.00

Pak Petroleum 22.96 171.75 170.55 174.90 176.85 173.70

Pak Suzuki 38.06 73.75 72.65 76.90 78.95 75.80

P.S.O. XD 55.69 262.65 260.55 268.20 271.65 266.10

P.T.C.L.A 50.68 18.55 18.40 18.90 19.15 18.75

Shell Pakistan 36.26 193.45 192.20 196.45 198.20 195.20

Sui North Gas 68.94 28.75 27.75 30.85 31.95 29.85

Sitara Peroxide 45.18 8.55 8.40 8.85 9.00 8.70

Sui South Gas 81.09 24.05 23.20 25.30 25.70 24.45

Telecard 37.74 2.05 2.00 2.20 2.30 2.15

TRG Pakistan 52.84 3.55 3.45 3.80 3.95 3.70

United Bank Ltd 33.18 50.65 49.75 52.75 54.05 51.90

WorldCall Tele 40.14 2.35 2.25 2.50 2.60 2.45

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Ghandhara Industries Ltd 22-Sep 12:00

Ghandhara Nissan Ltd 22-Sep 10:00

Orix Leasing Pakistan Ltd 22-Sep 10:00

Rupali Polyester Ltd 22-Sep 11:00

Shield Corporation Ltd 22-Sep 11:00

Wazir Ali Industries Ltd 22-Sep 11:30

Asian Stocks Fund Ltd 23-Sep 12:30

Baluchistan Wheels Ltd 23-Sep 10:30

Bolan Castings Ltd 23-Sep 9:00

Din Textile Mills Ltd 23-Sep 3:30

Ghani Automobile Industries Ltd 23-Sep 12:00

Ghani Value Glass Ltd 23-Sep 10:00

IBL HealthCare Ltd 23-Sep 12:00

Mandviwalla Mauser 23-Sep 12:00

Mari Gas Company Ltd 23-Sep 10:00

Safe Mix Concrete Products Ltd 23-Sep 2:30

Safeway Mutual Fund Ltd 23-Sep 3:00

Shabbir Tiles & Ceramics Ltd 23-Sep 10:00

Bhanero Textile Mills Ltd 24-Sep 10:00

Blessed Textiles Ltd 24-Sep 11:00

BOARD MEETINGS

Company Date Time

Wednesday, September 22, 2010 8

ISLAMABAD: Advisor toPrime Minister on SocialWelfare Shahnaz Wazir Alisaid the devastating floodsin the country shouldstrengthen the resolve ofthe nation to rebuild theeducation sector better.Addressing the openingceremony of PakistanEducation Task Force twodays workshop here at alocal hotel, she said thecatastrophic magnitude ofthe damage caused by thefloods has also hit the edu-cation sector very badly."Approximately six toseven million children'seducation is suffering dueto dislocation of familieswho are living in camps orother makeshift arrange-ments," she said.She said UNICEF, NCHDand various NGOs hadstarted tent schools for theflood affected children, buta much larger effort isneeded."We have to rebuild notonly the physical infra-structure but to thinkbeyond that and to focusour attention on establish-

ing an efficient educationalsystem in line with thedemands of the 21st centu-ry," the PM's advisor said,adding: "Old and chroni-cally inefficient education-al system is inefficient andno longer acceptable as itlacks in capacity torespond to the needs of ourcountry."In view of the pressure onour budgets, she said, theimportance of ensuringefficiency of expenditure inevery rupee spent shouldbe kept in mind.She urged the participantsof the workshop from vari-ous provinces and regionsto use the expertise of thePakistan EducationTaskforce (PETF) andfacilitate their departmentsin implementing theNational Education Policy(NEP).The two days workshop isorganised by PakistanEducation Task Force(PETF). Michaels Barber,co-chairperson PETF alongwith his consultants hascome from UK to conductthis workshop.-NNI

Advisor asksbig resolvefor mendingstricken edu

MIRPUR: The AcademicStaff Association (ASA) ofMirpur University ofScience & Technology(MUST) fully endorsed therecent demand made by theVice Chancellors (VCs)Committee in its recentmeeting in Islamabad seek-ing early release of the req-uisite funds to the HigherEducation Commission(HEC), it was officiallydeclared by the ASA here.A meeting of ASA, chairedby Prof. Muhammad Iqbal,President of theAssociation, expressed fullsolidarity with the VCscommittee.The meeting reiterated fullsupport to the decisionstaken in VCs committeemeeting held in Islamabadrecently."The act of stoppage of

funds to HEC might createproblems particularly forthe students who are study-ing abroad on scholarships,and in general for studentswho are studying in variousuniversities across thecountry," the meetingmaintained.The meeting assured thatthe ASA and all of its mem-bers would favor and sup-port the decisions of VCscommittee whatever itsoutcome might be in futurein the larger interest of theteaching staff as well asstudents of the universitiesacross the country includ-ing AJK.The meeting also beendeclared to participate inthe proposed welfare pro-grams and campaign for therelief and rehabilitation ofthe flood victims. -APP

Govt urgedto release

HEC funds

RCCI signs

MoU with

ComsatsRAWALPINDI: Rawalpindi

Chamber of Commerce andIndustry (RCCI) and COM-SATS Institute of TechnologyThursday signed aMemorandum of Understanding(MoU) to bridge the gapbetween academia and industryin Pakistan and develop market-based curricula.

The scope of MoU is aimed atincreasing interaction withindustry, fostering the research& development activities andproviding internship opportuni-ties to COMSATS students.

Rector COMSATS Institute ofInformation Technology DrJunaid Zaidi and presidentRCCI Kashif Shabbir signed theMoU.

Minister for Science andTechnology Azam Khan Swatiwas also present on the occa-sion.

Speaking on the occasionMinister for Science andTechnology Azam Khan Swatilauded the assistance providedto the flood affected people byRawalpindi Chamber ofCommerce and Industry.

Urging RCCI to play a pro-active role for the progress andprosperity of the country he saidhis ministry is ready to assistand provide all kinds of help tothe business community.

They should keep introducinglatest technologies and valueaddition aiming to ensure eco-nomic progress.

Highlighting immense poten-tial of business community hesaid no candidate can win elec-tion anywhere without activesupport of local chamber.

Swati said his ministry isready to manufacture parts of F-16, plants for generating powerthrough solar, wind and hydel-if provided adequate funds,adding that Pakistan could betransformed into a developednation with the period of nextfive years by sincere leadership.

He said "he is a self made per-son and started his career as anordinary worker with sheer hardwork he currently owns two oilcompanies in United States andis not burden on nationalexchequer".

Rector COMSATS Dr JunaidZaidi highlighted the perform-ance of his institute andexpressed satisfaction over theworking.

He said renowned socialworker Abdul Sattar Edhi wouldbe conferred with doctoratedegree in the convocationscheduled to be held next week.

Zaidi said COMSATS is goingto launch Rs 2 billion project"Adopt a (flood Affected)Family soon". According to theproject each family will be paidRs 10,000 for 10 consecutivemonths.

COMSATS would not ask formoney just the donor will beasked to directly pay to theaffected family for 10 consecu-tive months.

President (RCCI) KashifShabbir highlighted the per-formance of chamber sayingbusiness community is ready tocooperate with ministry of sci-ence and technology. -APP

ISLAMABAD: Special Assistant to Prime Minister Gilani on Social Sector concluding the two-day workshop of Pakistan Educational Task Force - Online

RAWALPINDI: Pakistanistudents are quite capableof coping with the greatnatural disaster with devo-tion and dedication as his-tory testifies the fact,Rector National Universityof Science and Technology(NUST) Lt GenMuhammad Asghar HI (M)said here.

Speaking to undergradu-ate convocation of the BEstudents held at the atElectrical and MechanicalEngineering E&ME for its16th batch of undergraduateengineers here on Saturdayhe said the world acknowl-edges our resilience andability in the time of need.

Lauding students he saidthey always participated inthe nation building andhelped in the time of disas-ters and played a key rolefor the relief and rehabilita-

tion.There was a great respon-

sibility on the shoulders ofstudents to come forwardand took part for the nationbuilding with devotion anddedication.

He urged the studentswork honestly and serve thenation with determination.

He said that NUSTUniversity is the top mostuniversity in the world andproducing the best brainand modern era to meet thechallenges in the future.

Rector NUST awardedPresident's Gold Medal for theoverall best academic positionto Yasir Mehmood Qureshi.

Prime Minister's GoldMedal was awarded to YasirMehmood Qureshi, AhmedZia, Saad Usman Khan andNs Ahsan Awan and NsTalha Manzoor for the bestacademic performance in

each discipline.The COAS gold Medal is

awarded to the Technicalcadet displaying the overallbest performance. TheMedal was awarded to thecompany senior under offi-cer TC Faheem Iftekhar.

A remarkable number of270 students passed out andwere handed over degrees.

The chief guest wishedthe students success andhoped that they wouldstrive to achieve excellencein everything they do andbring glory to their parents,institution and their coun-try.

While delivering the wel-come address, theCommandant MajorGeneral Muhammad ShahidHI(M) highlighted theachievements of the E&MECollege during the recentyears. -APP

Students termednational asset

UNITED NATIONS: Girlsand boys in only 85 coun-tries will have equal accessto primary and secondaryeducation by 2015 if pres-ent trends continue, accord-ing to a new UN report,which calls for greaterefforts to reduce gender dis-parities in education. The annual edition of theGlobal Education Digest,published by the UNEducational, Scientific andCultural Organization(UNESCO), adds that 72countries are not likely toreach the goal of gender par-ity in education by 2015, oneof six education goals set byworld leaders gathered at theWorld Education Forum inDakar, Senegal, in 2000."This new data tells us thatwe need to reaffirm ourcommitment to educationand gender equality," saidUnesco Director-GeneralIrina Bokova.The advances made inimproving girls andwomen's access to educa-tion and training over thepast decades risk beingundermined by reductionsin international aid and

national investments as theworld struggles to copewith inter-locking crises."Yet, we all know that com-promising the education ofgirls and women will onlylead to more vulnerabilityand reinforce the viciouscycle of poverty." Thereport comes on the eve ofthe UN summit that beginson Monday in New York,where world leaders, civilsociety groups, foundationsand the private sector willmeet to discuss how toadvance the ambitious anti-poverty targets known asthe MillenniumDevelopment Goals(MDGs), which also have atarget date of 2015.Among its other findings, thereport says that worldwide,girls are more likely to neverenter primary school thanboys. In South and WestAsia, only about 87 girls startprimary school for every 100boys, according to data com-piled by the Unesco Institutefor Statistics (UIS).Meanwhile, in sub-SaharanAfrica, about 93 girls begintheir primary education forevery 100 boys. At the

national level, the chancesof starting primary schoolfor boys are at least 10 percent greater than those forgirls in Afghanistan, Benin,Cameroon, the CentralAfrican Republic (CAR),Chad, the DominicanRepublic, Eritrea, Ethiopia,Guinea, Mali, Niger,Pakistan, Papua NewGuinea, Tuvalu and Yemen. "Girls in these countriesare often excluded entirelyfrom education," notedUNESCO, adding that UISdata reveals that house-holds are more likely tosend a boy who is past theofficial entry age to schoolthan a girl. In many coun-tries boys tend to drop out ofschool more than girls. Thereport says that disparitiesagainst girls in secondaryeducation are more severethan those against boys, withboys having greater accessthan girls in 38 per cent ofcountries. For every 100boys enrolled in secondaryeducation in sub-SaharanAfrica, for example, therewere about 79 girls in 2008compared to 82 girls in1999. -NNI

UN calls for greaterefforts to end gender

disparities in education

Nust convocation held IIUI’s 8th convocationon October 7

ISLAMABAD: TheInternational IslamicUniversity of Islamabad(IIUI) would hold 8th con-vocation of the varsity onOctober 7.

The degrees would be con-ferred on to 2300 graduatesof the university who werepassed out from the varsityduring September 2008 toAugust 2009.

37 gold medalist and threePhD degrees would also bepart of the convocation.

Federal Minister forEducation Sardar AsifAhmed Ali would honor themoot as chief guest.

It was announced byGulzar Ahmed Khawaja,Chairman ConventionManagement Committee andDirector Academic Planningand Coordination (APC) ofthe University here.

ICAP

to hold

moot todayKARACHI: The Southern

Regional Committee of the

Institute of Chartered

Accountants of Pakistan

(ICAP) will be organising a

seminar on "Code of

Corporate Governance &

Way Forward" today at

ICAP House Clifton

Karachi.Ebrahim Yacoob Sidat,

FCA, Country ManagingPartner Ernst & Young FordRhodes Sidat Hyder will bethe speaker at the occasionand Faud Azim Hashmi,President, Pakistan Instituteof Corporate Governancewill be the session chairmanat the seminar.

The concept of corporategovernance has becomeincreasingly important inPakistan in recent years. Thesubject has attracted greaterattention from regulatorswho are reviewing the gover-nance framework across pri-vate and public sectors.While most aspects of thecorporate legal frameworkare embodied in theCompanies Ordinance, 1984,one of the major develop-ments the regulatory regimein Pakistan has been the for-mulation of the Code ofCorporate Governance, 2002(the Code).

It was subsequently incor-porated in the ListingRegulations of the threeStock Exchanges of Pakistanand made applicable to alllisted companies entities.-PR

KARACHI: Students appear in self-assessment test organised by Islami Jamiat -e-Talaba

for the admission in NED University. -Online

LONDON: Copper driftedlower on Tuesday as investorswere reluctant to make big betsahead of a US Federal Reservemeeting that could herald aneasing of monetary policy,which could undermine thedollar and boost metals.

US data showed housingstarts rose to their highest infour months but it failed togive a boost to copper, whichtraders said needs fresh impe-tus after hitting its highest innearly five months on Monday.

Three-month copper on theLondon Metal Exchange endedthe day at $7,680 a tonne, fromMonday's close of $7,715.

The Federal Open MarketCommittee holds its one-daymeeting on Tuesday and anannouncement is expected at1815 GMT.

Demand for refined copperfrom the world's largest con-sumer of the metal rose strong-ly in August, leading a broadincrease in apparent consump-tion of metals, Reuters calcula-tions based on official Chinesedata showed.

A growing trend of fallingLME inventories has alsohelped overall sentiment in

recent months.Latest LME data showed that

LME stocks fell across allmajor contracts bar lead.Copper stocks slipped 2,475tonnes to 382,500 tonnes, hav-ing fallen from 6-1/2 yearhighs at 555,075 tonnes in

mid-February.Cancelled warrants, or cop-

per tagged for removal fromLME-registered warehousesstand at 29,175 tonnes, or 7.7per cent of the total, up from 5per cent at the start of June.

Aluminium traded at $2,175per tonne from $2,195 pertonne on Monday. The metalused in transport and packag-ing touched $2,223 onMonday, its highest level sinceAug. 6.

Three-month tin was at$23,000 a tonne, down fromMonday's $23,500 a tonne. Ithit a two-year high of $23,800a tonne last week on the backof tightening supply from topexporter Indonesia.

Steel ingredient nickel endedat $22,350 a tonne from$23,050 on Monday. Batterymaterial lead was bid at$2,174.5 from $2,195, zinctraded at $2,142 from $2,180. -Reuters

Copper edges down;eyes on Fed meeting

9Wednesday, September 22, 2010

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash Buyer 1240 1150

March (3rd Wednesday) 1240 1080

April (3rd Wednesday) 1240 1080

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for September 20 2010

LME Official Prices, US$ per tonne for September 20 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2210 2173 7735 2187 23340 23625 2155 2100

Cash seller 2220 2174 7735.5 2188 23345 23650 2155.5 2105

3-months buyer 2150 2208 7750 2212.5 23350 23650 2180.5 2130

3-months seller 2160 2209 7752 2213 23375 23675 2181 2140

15-months buyer 2085 2283 7685 2230 22850 23125 2242 2130

15-months seller 2095 2288 7695 2235 22950 23175 2247 2140

27-months buyer 2085 2350 7445 2210 21925 2238 2180

27-months seller 2095 2355 7455 2215 22025 2243 2190

LONDON METAL EXCHANGE (METALS)

LONDON: Gold eased inEurope on Tuesday as the mar-ket consolidated after threedays of record highs, butremained supported by specu-lation the Federal Reserve maysignal a move towards furtherstimulus measures after a poli-cy meeting later in the day.

Prices came under a littlepressure in earlyafternoon trade asthe dollar paredlosses against abasket of curren-cies, helped bydata showing UShousing startsrose more thanexpected in August, butremained firmly underpinned.

Spot gold was bid at$1,276.25 an ounce at 1524GMT, against $1,279.25 late inNew York on Monday. US goldfutures for December deliveryfell $3.30 to $1,277.50.

"Today we are just waitingfor the Fed," said DeutscheBank trader MichaelBlumenroth. "After that, othermarkets will move, currency

markets especially, and thenwe will see."

"Everyone is thinking youshould not be short at this timeof year for seasonal reasons," headded. "And there is somemoney flowing into the goldmarket due to safe-haven buy-ing." While few traders expectthe Fed to unveil further quanti-

tative easing measures just yet,the bank may signal its readinessto take such steps if needed.

Any further round of quanti-tative easing would reflect con-cern over the outlook for USgrowth, meaning interest ratesare likely to remain lower forlonger, and could underminethe US dollar, and ultimatelyprove inflationary.

Investment demand for goldremained healthy, with hold-

ings of the world's largest gold-backed exchange-traded fund,New York's SPDR Gold Trust,rising another 3.65 tonnes onMonday to 1,304.472 tonnes.

World Gold Council countrymanager Cihan Goksel told aWGC meeting in Istanbul onTuesday that global golddemand rose 36 per cent in the

second quarterto 1,050tonnes.

Among otherprecious met-als, silvereased to $20.59from $20.73 anounce, after

hitting a 2-1/2 year high of$20.99 on Friday. Platinum wasat $1,618.50 an ounce against$1,625.75, and palladium at$530.50 versus $535.40. TheUS-based palladium exchange-traded product operated by a unitof London's ETF Securities sawan outflow of nearly 20,000ounces on Monday, the largestdip in its holdings since a near-30K oz decline in late July, dataon its website showed. -Reuters

Gold consolidates afterrun of highs, eyes Fed

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Tuesday'sRotterdam vegetable oil price'sat 21:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Oct10810.00, Nov10/Jan11 812.00,Feb11/Apr11 815.00,May11/Jul11 815.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Nov10/Jan11790.00-12.00, Feb11/Apr11797.00-13.00, May11/Jul11802.00-13.00.

SUNOIL: EU dlrs tonneextank six ports optionOct10/Dec10 1150.00,Jan11/Mar11 1150.00,Apr11/Jun11 1150.00.

LINOIL: Any origin dlrstonne extank RotterdamSep10/Oct10 1260.00+5.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Sep10920.00-20.00, Oct10 917.50-17.50, Nov10 912.50-7.50,Dec10 905.00-10.00,Jan11/Mar11 900.00-7.50.

PALMOIL: RBD dlrs tonnecif Rotterdam Oct10 957.50,Nov10/Dec10 937.50.

PALMOIL: RBD dlrs tonnefob Malaysia Oct10 910.00-10.00, Nov10/Dec10 890.00-10.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Oct10920.00-10.00, Nov10/Dec10900.00-10.00, Jan11/Mar11895.00-10.00, Apr11/Jun11895.00-12.50.

PALM STEARIN: Dlrs tonnefob Malaysia Oct10 890.00-5.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1295.00+10.00,Nov10/Dec10 1295.00+10.00,Dec10/Jan11 1295.00+10.00.

CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 2020.00+0.00. -Reuters

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

Date Quotation in lots Settlement Settlement in Lots

Price Price

21-Sep-2010 CRUDE100 NO10 US$ Per Barrel 74.76 76.75 73.58 76.22 162 76.22 76.22 44

21-Sep-2010 CRUDE100 DE10 US$ Per Barrel 77.30 78.24 74.64 78.08 42 78.08 78.08 7

21-Sep-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 20.81 20.81 20.68 20.68 - 20.68 20.68 -

21-Sep-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 20.85 20.96 20.60 20.69 69 20.69 20.69 124

21-Sep-2010 GOLD 01oz OC10 US$ Per Troy Ounce 1280.10 1283.30 1274.00 1277.30 528 1277.30 1277.30 567

21-Sep-2010 GOLD 01oz NO10 US$ Per Troy Ounce 1280.40 1284.00 1274.00 1278.00 1,005 1278.00 1278.00 1,753

21-Sep-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1281.00 1284.40 1274.80 1278.80 701 1278.80 1278.80 723

21-Sep-2010 GOLD 100oz OC10 US$ Per Troy Ounce 1277.80 1279.60 1277.40 1277.30 11 1277.30 1277.30 3

21-Sep-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1279.70 1279.70 1278.00 1278.00 - 1278.00 1278.00 -

21-Sep-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1281.40 1285.00 1275.50 1278.00 81 1278.80 1278.80 5

21-Sep-2010 GOLD OC10 Per 10 grms 35396.00 35414.00 35210.00 35315.00 69 35315.00 35315.00 45

21-Sep-2010 GOLD NO10 Per 10 grms 35333.00 35333.00 35324.00 35324.00 - 35324.00 35324.00 -

21-Sep-2010 GOLD DE10 Per 10 grms 35348.00 35348.00 35338.00 35338.00 - 35338.00 35338.00 -

21-Sep-2010 Kilo GOLD OC10 Per 10 grms 35297.00 35297.00 35287.00 35287.00 - 35287.00 35287.00 -

21-Sep-2010 Tola Gold50 OC10 Per Tola 41170.00 41170.00 41158.00 41158.00 - 41158.00 41158.00 -

21-Sep-2010 Tola Gold100 OC10 Per Tola 41170.00 41170.00 41158.00 41158.00 - 41158.00 41158.00 -

21-Sep-2010 Mini Gold 1-Aug Per 10 grms 36371.00 36371.00 36350.00 36350.00 - 36350.00 36350.00 -

21-Sep-2010 Mini Gold 2-Aug Per 10 grms 36323.00 36386.00 36323.00 36386.00 - 36386.00 36386.00 -

21-Sep-2010 Mini Gold 3-Aug Per 10 grms 36335.00 36335.00 36314.00 36314.00 - 36314.00 36314.00 -

21-Sep-2010 Mini Gold 4-Aug Per 10 grms 36347.00 36347.00 36326.00 36326.00 - 36326.00 36326.00 -

21-Sep-2010 Mini Gold 5-Aug Per 10 grms 36359.00 36359.00 36338.00 36338.00 - 36338.00 36338.00 -

21-Sep-2010 TT Gold 1-Sep Per Tola 41756.00 41756.00 41731.00 41731.00 - 41731.00 41731.00 -

21-Sep-2010 IRRI6W 23SE10 Per 100 kg 2402.00 2402.00 3202.00 3202.00 - 3202.00 3202.00 -

21-Sep-2010 Rice IRRI - 6 OC10 Per 100 kg 3228.00 3228.00 3226.00 3226.00 - 3226.00 3226.00 -

21-Sep-2010 RBD Palm Olein OC10 Per Maund 4206.00 4206.00 4184.00 4184.00 - 4184.00 4184.00 -

21-Sep-2010 KIBOR3M 10-Sep Per Rs. 100 87.19 87.19 87.19 87.19 - 87.19 87.19 -

21-Sep-2010 KIBOR3M 10-Dec Per Rs. 100 86.86 86.87 86.86 86.87 - 86.87 86.87 -

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

Tokyo rubber

hits 5-month

high on NikkeiSINGAPORE: The mostactive contract on Tokyo rubberfutures rose to its highest inalmost five months on Tuesdayas early gains in Japaneseshares spurred fund buying.

The benchmark rubber con-tract on the Tokyo CommodityExchange, currently February2011, settled up 8.9 yen per kgat 305.4 yen after rising as highas 305.9 yen, its strongest levelsince late April.

The Nikkei edged briefly to aseven-week intraday highbefore falling into negative ter-ritory in the face of profit-tak-ing, with the dollar's strugglesagainst the yen weighing onsentiment. Gains on Tokyofutures lifted the physicalprices in Southeast Asia, withbenchmark Thai RSS3 hover-ing near a record see in April.

The TOCOM futures marketwas closed on Monday for anational holiday and will beclosed again on Thursday. China,the world's biggest rubber con-sumer, will also be on holidayfrom Wednesday until Friday.Rubber inventories in warehousesmonitored by the ShanghaiFutures Exchange fell 1.9 per centto 26,900 tonnes from late lastweek, the exchange said. -Reuters

LOUISIANA: A farmer works through a field as he harvest soybeans in Lafayette, Ind. -Agencies

NEW YORK: Crude oil fellfor the fifth time in six days onTuesday amid concerns overthe outlook for the globaleconomy and oil demand andas investors awaited resultsfrom a key Federal Reservepolicy meeting.

The US central bank isexpected to restate its existingpolicy with no fresh stimulusand interest rates kept at

almost zero, but the Fed hascome under pressure to injectmore money into its sluggisheconomy.

The October US crude con-tract expiration and high USoil inventories kept pressureon the front month and helpedpush nearby months lower,industry sources said.

US crude for October deliv-ery fell $1.79, or 2.39 per cent,to $73.07 per barrel by latemorning, its biggest percent-age drop since Aug. 31. Thatday also was a Tuesday aheadof weekly oil inventory reportsand one with expiring con-tracts on tap, though they werefor refined products.

US November crude fell 99cents, or 1.3 per cent, to$75.20 a barrel. ICE Brent forNovember fell 54 cents to$78.78.

The premium for NovemberBrent over the equivalent USbenchmark West TexasIntermediate contract roseabove $3.50 on Tuesday. Thepremium shrank below $2when a leak forced the closure

of the biggest Canada-UScrude pipeline but widenedwhen it became apparentflows would resume last week.

Chinese figures offeredsome support for prices onTuesday. China's apparent oildemand rose 8.2 per cent inAugust over a year earlier,rebounding from July, Reuterscalculations from official datashowed.

Crude inventories probablyfell last week because of lowerimports from Canada due tothe Enbridge pipeline outageand as tankers navigatedaround stormy weather, aReuters survey of analystsshowed on Monday. -Reuters

Oil slides ahead ofFed, inventory reports

KUALA LUMPUR: Mostvegetable oil prices dipped onTuesday as traders bookedsome profits after concerns ofdry weather in the Americasand frost in China and Canadadrove markets up the previousday.

Malaysia's December palmoil dropped 1.3 per cent toclose at 2,674 Malaysian ring-git, easing from a five-weekhigh on Monday.

The most active May soyoilcontract on China's DalianCommodity Exchange fell 0.2per cent after touching a recordhigh the previous day.

"Traders are booking profitsahead of the Mid-Autumn fes-tival, but losses were limitedby US soyoil's strength," said aShanghai-based oil analystwith a local brokerage.

Cargo surveyors IntertekTesting Service and SocieteGenerale de Surveillance will

unveil Malaysia's palm oilexports data for Sept. 1 to 25on Saturday and Monday,respectively.

In Indonesia, Jakarta-basedPT KBN Nusantara, formerlyknown as the state marketingcentre, sold 9,500 tonnes ofcrude palm oil at top price of8,163 rupiah ($0.911) per kg inauction on Tuesday, against8,198 rupiah per kg in auctionon Monday.

Producers in Medan, home toIndonesia's main palm oilexport port of Belawan, soldcrude palm oil at between8,090-8,180 rupiah per kg onTuesday. There was no palmoil auction in Medan onMonday.

Refiners in Jakarta offeredrefined, bleached, deodorised(RBD) palm olein -- used ascooking oil -- at 8,700 rupiahper kg versus 8,600 rupiah perkg the previous day. -Reuters

Palm oil eases;weather concerns linger

Cocoa riseson West

Africa cropconcerns

LONDON: Cocoa reversedearly losses to rally over 2 percent on Tuesday on concernsthat the West African crop maynot be as large as expected.

ICE raw sugar futures fell,unable to hold Monday's seven-month peak as activity in thephysical market slowed, whilearabicas edged higher, stabiliz-ing after their biggest one-daydrop in four weeks.

Analysts and dealers believeexpectations for a large WestAfrican crop are built into pricesand the market was looking over-done to the downside. Cocoaprices have fallen over 20 per centon improved supply prospectssince hitting a 32-year peak inJuly. Dealers said if there areproblems with disease or delaysto the harvest prices could rally.

ICE December cocoa tradedup $64 or 2.4 per cent at $2,782per tonne, as at 1515 GMT.Liffe December cocoa traded up39 pounds at 1,904 pounds atonne. Sugar slipped on Tuesdayas dealers talked of a weakerwhite sugar premium, suggest-ing less active cash business.

"Physical activity has certain-ly slowed and with it (we pre-sume) trade buying of futures,"a European broker said in adaily market report.

London December whitesugar traded down $9.90 or 1.6per cent at $597.90 per tonne.ICE October raw sugar futurestraded down 0.61 cent or 2.5per cent at 23.68 cents a lb.

News that Pakistan has decid-ed to waive the duty on rawsugar imports, and thatIndonesia will buy more whitesugar than expected, will sup-port the sugar market, dealersand analysts said.

Weighing on sugar prices wasa report from forecaster Somarthat substantial rains were dueover top producer Brazil's sugarcane and coffee belts in thesoutheast by late September,interrupting a long dry spell thathas worried producers.

Coffee steadied on Tuesdayafter it marked its biggest single-day percentage loss on Monday,as investors and producers soldon forecasts for rain in Brazil'scoffee belt, dealers said. A weath-er premium had been built intocoffee futures on concern aboutunusually dry conditions. ICEDecember arabica coffee futurestraded up 0.7 cent or 0.4 per centat $1.8265 a lb, while LiffeNovember robusta coffee was up$2 at $1,656 per tonne. -Reuters

NEW YORK: Cotton pricessurged more than 3 per cent onMonday, jumping past the $1 alb level for the first time since1995 as clothing makers andother commercial users whosat out the summer rally wereforced to buy at prices drivenup by fund investors.

Buying by speculators, milland trade accounts stoked therally on Monday. Investmentfunds sitting on money-makinglong positions werealso buyers anticipat-ing cotton prices willget a further boostfrom consumerdemand down the road.

High cotton priceshave squeezed cloth-ing makers in theUnited States andaround the world.

"It's a perfect storm in cotton,"Nick Gentile, senior partner ofcommodity trading consultancyAtlantic Capital Advisors, toldReuters in an interview.

For only the second timesince 1960, cotton prices on theICE Futures US cracked $1 atthe start of trading in Asia andthe key December cotton con-

tract jumped as much as 3.76cents or 3.83 per cent to tradeat $1.0198 per pound.

But the market tailed off latein the session due to profit-tak-ing and the December contractjust managed to gain 1.15 centsto close at 99.37 cents per lb.

Trading was heavy though,as total volume stood at 33,622lots at 1841 GMT.

Some analysts were wary how-ever that cotton prices were

showing signs it is close to a top.The US government's

Commodity Futures TradingCommission weekly report onSept. 17 showed noncommer-cials increasing their net longposition in cotton since Julyfive-fold and managed moneyaccounts doubling those posi-tions. -Reuters

NY cotton soars over$1/lb for 1st time in 15-yrs

Shanghai copper

declinesShanghai copper fell 0.7 per

cent on Tuesday as investorswound up positions ahead of athree-day holiday, but Londonwas steadier, supported bystrong Chinese imports andexpectations of tight supply inthe future.

Benchmark third-monthShanghai copper fell 420 yuanto 59,830 yuan. Prices earliertouched 60,230 yuan, retreat-ing as investors trimmedlength ahead of the three-dayMid Autumn Festival startingWednesday.

BD tea pricesup on higher

demandDHAKA: The average price ofBangladeshi teas rose 1.85 percent to 195.35 taka ($2.80) perkg at the weekly auction onTuesday, brokers said.

More than 1.66 million kgwere sold, leaving only 1.43per cent of the offer to be car-ried back.

Bangladeshi buyers includingexporters mainly to theCommonwealth of IndependentStates and Pakistan participatedin the auction, held in the coun-try's lone auction centre in themain port city Chittagong.

"There was higher demandthat advanced prices for mostcategories," said an executiveof the National BrokersLimited, the largest tea brokingfirm in the country.

Different grades were soldbetween 170 taka and 226taka per kg in the auction. Butin an exclusive sale for goodliquoring teas some 250 kg ofChuramoni Dust realised thehighest price of 230 taka perkg. The next auction will beheld on Tuesday, Sept. 28,with some 1.84 million kg onoffer. -Reuters

Bullion prices steady after three days of record peaks

NY cotton mid-dayCotton prices rallied to over $1 a lb for

the second day running as mostly investorand fund buying continued to push the mar-ket up to near its highest level in 15 years,analysts said.

The key December cotton contract hit a ses-sion high of $1.0197 per lb, one tick belowthe Monday top of $1.0198, and was trading1.98 cents higher at $1.0125 at 1411 GMT.

10Wednesday, September 22, 2010

Australian cricket captain Ponting walksto attend a practice session in Chandigarh

Wengermisses Spursmatch due toFA charges

LONDON: Arsenal managerArsene Wenger admitted an FAimproper conduct charge andwill serve a one-match touch-line ban when his team play atTottenham Hotspur in a LeagueCup tie on Tuesday.

The 60-year-old Frenchmanaccepted the standard sanctionof a one match ban and an8,000 pounds ($12,500) fine,the FA said in a statement ontheir website on Tuesday.

"The ban will be served withimmediate effect," the state-ment confirmed.

Wenger was cited after react-ing angrily when Sunderlandstriker Darren Bent scored inthe fifth minute of additionaltime to force a 1-1 draw againstArsenal at the Stadium of Lighton Saturday.

The fourth official's displayboard had indicated a minimumof four minutes additional timewould be played.

Wenger angrily remonstratedwith match officials, furiousover the time added on by refer-ee Phil Dowd.

Bent's goal, with the last kickof the Premier League game,cancelled out Cesc Fabregas'sfirst-half effort and deniedArsenal the chance of going topof the table.-Reuters

Imran

rejects

calls for

cricket banKARACHI: Pakistani sport-ing hero Imran Khan brushedaside calls to ban his nationfrom international cricketuntil corruption allegationsare investigated, saying acountry cannot be punishedcollectively.

Former England captainsIan Botham and MichaelVaughan have demandedPakistan are kicked out ofinternational cricket until aprobe into their cricketers hasbeen completed.

Their calls follow allega-tions of spot-fixing againstPakistani cricketers duringtheir ongoing tour ofEngland, which triggered awar of words between cricketofficials from the two coun-tries.

Former Pakistan cricketcaptain Khan said a countrycannot be thrown out on thebasis of allegations.

"In any form of illegalactivity you cannot give col-lective punishment to a coun-try and deprive millions offans, more so because theseare still allegations yet to beproven," Khan told AFP.

Pakistani cricket has beenembroiled in the spot-fixingscandal since last month'sNews of the World report inwhich the British newspaperclaimed several players tookmoney to underperform dur-ing the Lord's Test againstEngland.

Test captain Salman Buttand bowlers Mohammad Asifand Mohammad Aamir wereprovisionally suspended bythe International CricketCouncil (ICC) earlier thismonth as British police inter-viewed the players.

The police completed aninitial report and prosecutorsare deciding whether to presscharges.

Khan said the only evidencecomes from a newspaperreport and its footage.-APP

U-19 trialsto start in

HyderabadHYDERABAD: The trials forselection in Hyderabad'sUnder-19 Cricket Team for par-ticipation in Pakistan CricketBoard's Under-19 Inter-DistrictCricket Tournament will getunderway on Sept 25 at 10 a.m.

Secretary District CricketAssociation, Hyderabad,Ahmed Ali Jaffri informed thisin a press statement releasedhere on Tuesday.

Jaffri invited the interestedUnder-19 players to appear forthe trials on the scheduled dateand time.

They have been advised to bringtheir Form B, matriculation certifi-cate and photocopy of their father'sNIC along with them.-APP

Fabregas outfor 3 weeks

LONDON: Arsenal captainCesc Fabregas will be out forup to three weeks with a ham-string injury, the EnglishPremier League club said onTuesday.

The Spanish midfielder, whohas been in good form in recentweeks, picked up the injuryshortly after scoring inSaturday's 1-1 draw atSunderland and was quicklysubstituted.

Arsenal, unbeaten this seasonand second in the league behindchampions Chelsea after fivematches.-Reuters

ISLAMABAD: SportsPundits on Tuesday havedeclared the role ofInternational Cricket Councilbiased and demanded ofPresident ICC Sharad Pawar tostop ongoing propagandaagainst Pakistan.

Giving their sheer reactionsover match fixing here onTuesday, the personalitiesassociated to sports demandedthat ICC should set aside prej-udiced behavior and take stepsfor improvement of cricket.They leveled charge thatmatch fixing is mere conspira-cy to destroy Pakistani cricketthus damaging its roots.

They said that if ICC wouldnot show responsibility then itwould badly affect the cricketat international level. Theysaid that despite investigationsfrom Pakistani cricketers forseveral hours, Scotland Yardcould not proved any allega-

tion true, the failure provedthat it was a conspiracy againstPakistani cricket, they added.

They said that our cricketersshould realize their responsi-bilities. They said that ifBritish newspaper got any evi-dences about match fixing itshould publish before thematch while why ICC did notprovide allegations to PakistanCricket Board according torules and regulations.

They further stressed thatconspiracies hatched againstPakistan have amplified sincethe time when presidency ofICC was handed over to India.

They said that if PresidentICC Sharad Pawar is reallyserious in progress of cricketthen it should play role forhalting ongoing propagandaagainst cricket otherwise mat-ters will get worse with thepassage of time in thisregard.-Online

Sports punditssee ICC role

as biased

ISLAMABAD: Minister forSports Ijaz Hussain JakhraniTuesday assured NationalAssembly that the sports min-istry will take strict actionagainst players of Pakistanicricket team if charges of spotfixing proved against them asthe final report of the ScotlandYard is yet awaited.

Replying to a calling attentionnotice, the sports ministeradmitted that there are severalshortcomings on part of themanagement of PakistanCricket Board and it will haveto face action if such negligenceproved in spot fixing case.

It is high time the PCB man-agement improved its perform-ance and removed all theweaknesses. The management

will have to face strict action iftheir flaws proved in the caseand action is subject to thefindings of the Scotland Yardreport, said the minister.

He told the House that theinvestigation has been handedover to the Crown Prosecutionand the final report is awaitedshortly and it is yet to seeeither charges are framedagainst the players or dropped.

Mentioning to the a mediareport on July 27, the ministersaid the report had expressedsuch apprehensions and alsomentioned names of AzharMajeed and Mazhar Majeedwhat the PCB viewed wereagent of cricket players andhad nothing to do with allegedfixing.-Online

NA body warnsaction againstguilty players

MUMBAI: While India strug-gle to get ready for nextmonth's CommonwealthGames in Delhi, organisers fornext year's cricket World Cupin India, Sri Lanka andBangladesh have struck analtogether more confident note.

Organisers have targeted theend of November for the finalpreparations for the venues,tournament director RatnakarShetty told Reuters in an inter-view.

"In some cases it may beextended to the end ofDecember but that is the dead-line," he insisted. "The ICCteam and the entire team oforganisers will be visiting all13 venues starting from Nov18."

The quadrennial event willbe played across 13 venueswith eight in India, three in SriLanka and two in Bangladesh,from Feb. 19 to April 2 nextyear.

Three stadiums in India -- theWankhede in Mumbai, theEden Gardens in Kolkata andthe MA Chidambaram inChennai -- are undergoing

major facelifts."Out of the three venues

undergoing development,Kolkata and Chennai alreadyhave the playing surface ready.The wickets are ready so thereare no issues," said Shetty.

"The only concern is howMumbai comes up with respectto the playing surface. We arelooking at the end ofNovember for Wankhede tostage some Ranji Trophymatches."

Commonwealth Gamesorganisers have come underfire with team officials com-plaining about sub-standardaccommodation facilities forathletes with missed deadlinescompounding the problems.Cricket organisers pledgedthey will not take any chances.

"We have closed all ourlogistic issues. We havefinalised the airlines, a majorconcern as teams will be flyingin and out of the three coun-tries," said Shetty.

"The accommodation issuesare resolved in all three coun-tries and so also the groundtransport. We have closed on

all these issues by the end ofAugust."STRONG CREDENTIALSShetty strongly defended

India's credentials as hosts."The country has already

hosted two cricket World Cupsand a Asian Games successful-ly. So if anybody has any doubtabout India's ability to hostworld events, they are living ina fool's paradise," he said.

He refused, however, to crit-icise Commonwealth Gamesorganisers for the sorry state ofaffairs, with 11 days left for theOct. 3-14 event.

"We have to be fair to them.Infrastructure wise, prepara-tions are much different andmuch larger for the Games ascompared to the cricket WorldCup. For CWG, they had to startfrom the scratch," Shetty said.

"If at all there was a problem,I think they started late withthe stadiums."

Pakistan were also scheduledto co-host the event but werestripped of the hosting rightsdue to the deteriorating securi-ty situation in the country.-Reuters

Cricket World Cuppreparation on course

* Mumbai's playing surface a concern* Sympathy for Commonwealth Games problems

LONDON: Pakistan's chaotictour of England degeneratedinto near anarchy on the morn-ing of the fourth one-day inter-national at Lord's on Monday, amatch the visitors went on towin by 38 runs.

The day began with theEngland and Wales CricketBoard (ECB) threatening legalaction against Pakistan CricketBoard (PCB) chairman Ijaz Buttfollowing provocative com-ments about Friday's third matchat the Oval which the touristswon by 23 runs.

England captain AndrewStrauss said his team had "strongmisgivings" about taking thefield after Butt told a televisionchannel there had been "loudand clear talk in bookies' circlesthat some English players werepaid enormous amounts ofmoney to lose (Friday's) match".

Match referee Jeff Crowe wasthen forced to intervene after adispute in the nets betweenEngland batsman Jonathan Trottand Pakistan fast bowler WahabRiaz. ECB chief executiveDavid Collier said former NewZealand captain Crowe had dealtimmediately with the incidentwhich was now closed.

"I think feelings have beenhigh in the last 24 hours. We

don't hide behind that though.We admit feelings were strongso that is bound to spill over,"Collier said.

Against this unpromisingbackground, an excellent matchunfolded on a warm autumnalafternoon watched by an appre-ciative crowd.

It ended under floodlights asPakistan squared the five-matchseries 2-2 with one gameremaining in Southampton onWednesday.

The tour was, however,already irretrievably blighted bythe suspensions of Pakistan testcaptain Salman Butt and teammates Mohammad Amir andMohammad Asif after lastmonth's fourth test at Lord's.

The bans followed an investi-gation into newspaper reportsthey had deliberately arrangedfor no-balls to be delivered dur-ing England's only innings.

Under one-day captain ShahidAfridi, Pakistan bounced backfrom defeat in the first two 50-over internationals to win at theOval only to learn theInternational Cricket Council(ICC) had opened an investiga-tion into the scoring pattern dur-ing their innings on Friday.

BUTT CRITICISEDICC chief executive Haroon

Lorgat said Britain's Sun news-paper had been told "a certainscoring pattern would emergeduring certain stages of thematch".

"Broadly speaking that infor-mation appeared to be correct,"Lorgat said.

Butt criticised Lorgat formaking the information publicwithout telling the PCB andthen made his comments aboutEngland at the Oval match.

Although he told BBC radioon Monday morning he had noevidence of wrongdoing buthad been merely relayingbookmakers' information, theECB were not mollified. "Boththe ECB and Team Englandview the comments made byButt as defamatory and notbased in fact," a statementsaid.

"The ECB expresses its grat-itude for the outstanding con-duct of the England team thissummer and will take all legaland disciplinary action whichmay result from Mr Butt'scomments."

Strauss, who top-scored with68 from 72 balls in England'sinnings on Monday, toldreporters the team wouldexplore every avenue to com-bat Butt's allegations.-Reuters

More controversyon chaotic Pak tour

* Players clash in the nets before start of play* Strauss angered by slur on team's reputation

NEW DELHI: It was meant to beemerging India's showcase event forthe world -- the coming out party theOlympics had been for Beijing.

But preparations for next month'sCommonwealth Games are down tothe wire and the event risks descend-ing into farce.

Commonwealth Games Federationpresident Michael Fennell saidTuesday the two-week event, start-ing October 3, was seriously com-promised by conditions at theGames village that have "shockedthe majority."

Fennell's comments came as nosurprise to observers. At least 19people, mainly workers, wereinjured when a footbridge underconstruction to the main Gamesstadium collapsed on Tuesday,highlighting fears of shoddy work-manship.

The shooting of two foreign visi-tors by suspected militants in DelhiSunday has combined with a denguefever epidemic, heavy monsoonrains, delayed construction, graftscandals and traffic chaos to give theGames that sinking feeling.

Dismal preparations have under-scored for many the out-of-touchand slow-paced leadership of PrimeMinister Manmohan Singh and hisCongress government, raising ques-tions how India's graft-ridden, ineffi-cient state can modernise to competewith China.

The government's pro-poor voterimage may suffer from tales of bil-lions of wasted dollars. A percep-tion of India's entrepreneurialprocess threatening Western jobsmay slip if roofs leak, athletes getdengue and journalists wonderwhere the Wi-Fi is.

"Fingers crossed, India may pulloff a miracle," said Boria Majumdar,a sports historian who has writtenthe book 'Sellotape Legacy: Delhiand the Commonwealth Games'.

"But it will have to be a miracle.No doubt about that."

Some four or five accommodationtowers at the Games village are stillunfinished, lacking facilities likewireless Internet, fitted toilets andplumbing. Rubble, unused masonryand discarded bricks litter the unfin-ished gardens.

On a recent visit to the village, thelack of preparation was stark. AReuters reporter witnessed dirtyapartments with empty boxes strewnabout, as labourers worked to finishnecessities such as paths and pave-ments.

A crude cement slope appeared tobe an unplanned fix for disabled ath-

letes requiring access to one apart-ment block.

The athletes' training centre wasstill to be fitted out, its receptionarea a dusty, empty expanse as boxesof equipment piled up outside. Thewater in the training and recreation-al swimming pools was dirty, withinsect larvae breeding on the sur-face.

"They have had some delegationsstaying there and they have beenreporting constantly about the filthin the village," Fennell told CNN-IBN TV. "There is a lot of stuff therethat needs to be cleaned."

Organisers say there is no questionthe Games will be put off, but thenightmare is that one delegationexits and that leads to an avalanche.And the problems are not receding.

Of the nearly 100,000 accredita-tions for officials and media, only

around a quarter have been issued.With the $6 billion (3.9 billion

pounds) Games way behind sched-ule, there have been worries stagnantpuddles in construction sites haveproved breeding grounds for mos-quitoes. Hundreds of Delhi residentsare hospitalised in one of the worstepidemics in years.

NOT ALL BAD?

With costs running 17 times morethan original estimates, the govern-ment's anti-corruption watchdogidentified 16 projects with suspectfinancing.

The Games village and security --construction delays mean venueshave been locked down by policeonly two weeks before the Games --are the two major weakness of theGames, Majumdar said.

The insistence to hold the Gamesin October has led to some athletes

pulling out due to conflicts withOlympic qualifiers. October alsomeans the opening ceremony maybe ruined by rains.

Triple Olympic sprint championUsain Bolt of Jamaica is the mosthigh profile of a bunch of top ath-letes who have decided to skip theevent.

But many venues, including themain Jawaharlal Nehru stadium,where an aerostatic balloon hoversabove, have been praised as worldclass. The hope for organisers is thatTV coverage of the Games willfocus on events rather than thearrangements.

Other events like the 2004 AthensOlympics were dogged by problemsbut turned out fine. Beijing was hitby worries over the torch relay andTibet protests but ended in mediaglory.-Reuters

Scandals, filth give C’wealth Games sinking feeling

LONDON: Pakistan's Umar Gul celebrates after the dismissal of England's Broad and Pakistan

win the fourth one-day international cricket match at Lord's cricket ground.-Reuters

11Wednesday, September 22, 2010

International & Continuation

CONTINUATION

telephony was a source of concern. He urged the Malaysianimporters to consider importing nontraditional items such as cut-lery, surgical instruments, gems and jewelry, sports goods, lightengineering goods, marble products computer software products,fruits and fruit products, vegetables and meat and meat basedproducts which are known the world over due to their high quali-ty and price competitiveness. -NNI

Continued from page 12No #1

deployed in the affected areas and urged them to put in their bestin this testing national cause. He appreciated the troops busy inflood-hit areas on conducting the task tirelessly.

Meanwhile, 1,296 people were evacuated from various parts ofaffected areas whereas 19,033 people were taken care at variousrelief camps during last 24 hours. Overall 13 tons of dry rationwas provided to the affected people and cooked food distributedamong 18,913 people while 2,121 people were given medicaltreatment.

Twenty vehicles carrying relief goods, medicines, water bottles,food items, dry ration (flour, pulses, rice, sugar, ghee) and tents,etc, were sent from Karachi to flood-hit areas of Sindh. The armytroops were putting in their best to ensure swift execution of reliefoperations.

According to another press release, the army engineers are busyin plugging the breaches at Ghouspur bund in Sindh and arerepairing of 117 farm-to-market link roads in southern Punjab.

Army has established 20 medical camps for flood affected areasof southern Punjab. More than 150 schools and 100 basic healthunits are being maintained and renovated by army.

One C-17 aircraft carrying 46 tons of relief goods from Sialkotreached Quetta for distribution among flood-affected people ofDera Murad Jamali and Naseerabad in Balochistan. -NNI

Continued from page 12No #2

provinces but other parties gain power because of division of thePML in factions. He said if the PML stands unified, it would havegovernments in the country. "The national history is a testimonyto the fact that whenever the PML has been in power, the nation-al economy and other sectors have been better," he remarked.

Answering a question about unconstitutional change, SenatorWasim Sajjad said that military rule still seems nowhere because ofthe domestic and international situation. About an in-house change,the PML-Q leader said that presently an in-house change would notbe in the interest of the opposition because the situation has wors-ened to such an extent that overcoming it is difficult. He said if thePPP could not solve problems after forming coalition governmentwith 124 seats, how several parties would overcome the problemsafter forming government as a result of an in-house change.

"Moreover, if an in-house change is brought at this point oftime, the PPP would contend that it has not been given a chance.It is better that the PPP completes its term and if it is not neces-sary, then general elections should be held after four years,"Senator Wasim Sajjad said. About claims of some quarters that theparliament has failed, the PML-Q leader said that in a parliamen-tary system, the government leads and brings policy. He said thatpresently problems of people are not being resolved. There isprice hike, poor law and order and turmoil in the country and thegovernment has failed to control this situation so this too could beinterpreted as failure of the parliament. -NNI

Continued from page 12No #3

raw material. As many as three corruption cases have been reg-istered against the accused persons. They were indicted onTuesday but they pleaded not guilty. Later the court adjourningthe hearing of the case summoned the witnesses and investigationofficer on next hearing. -Online

Continued from page 12No #4

The crash has raised the death toll of foreign troops inAfghanistan this year to 529, according to a toll based on the casu-alties website, surpassing the figure of 521 for 2009.

A total of 2,097 coalition troops have died since the US-ledinvasion of 2001 which ousted the Taliban regime. -NNI

Continued from page 12No #5

He said Turkey would actively participate in the Friends ofDemocratic Pakistan (FoDP) meeting in Brussels next month.

He also offered assistance in capacity building, particularly inthe field of agriculture, technical education and vocational train-ing. The Turkish foreign minister said that Prime Minister RacepTayyip Erdogan would undertake a visit to Pakistan soon as anexpression of solidarity with the flood-affected people. -NNI

Continued from page 12No #6

assistance provided by the government and people of Jordan inthe shape of medical team, medicines and other equipment duringrecent devastating floods Defense sources told that both sidesagreed to enhance cooperation between the armed forces of thetwo countries. The Jordanian air chief expressed his deep griefand sorrow over the loss of lives in the floods and said that hiscountry would stand by Pakistan in its time of need. -NNI/Online

Continued from page 12No #7

jittery awaiting the outcome of the Fed policy-setting meeting.Royal Bank of Scotland, HSBC and Lloyds Banking Group

shed 0.7 to 1.3 per cent."It's understandable to see investors being reluctant to continue

buying stock that might lose value overnight if the US markets geta nasty surprise and drop dramatically," Angus Campbell, head ofsales at Capital Spreads, said.

US residential construction rose more than expected in Augustto a four-month high, suggesting the embattled housing marketwas starting to stabilise. Miners, which had also bounced onMonday, fell along with base metal prices.

Kazakh miner ENRC was the biggest decliner in the sector,down 2.7 per cent as it spent $670 million to expand its presencein Brazilian iron ore and further diversify into another emergingmarket, Latin America.

Oil service companies were heavily sought after FTSE 250 firmWellstream Holdings said it had received several bid approaches.

Blue-chip players AMEC and Petrofac gained 0.8 per cent,while Wellstream shares jumped more than 28 per cent to theirhighest in nearly two years.

"Large oil service businesses are 'cashed up' and looking forbusinesses to add to the geographic or technological footprint,"Evolution Securities said in a note.

Mid-cap peers in the sector John Wood Group and Huntingclimbed 6.6 and 3.1 per cent respectively.

Integrated oils were in demand, with BP up 0.8 per cent, extend-ing gains on Monday after news it had permanently sealed its rup-tured Gulf of Mexico well.

Cairn Energy was up 2.3 per cent after it said a well beingdrilled in Greenland found evidence of oil proving a workinghydrocarbon system in Baffin Bay, raising hopes that the regioncould become a new oil producing basin. Vedanta Resources rose2.3 per cent. Carnival reversed early losses, rising 0.7 per centafter it posted higher quarterly earnings. -Reuters

Continued from page 5No #8

Market players remain cautious about the outlook amid persistent wor-ries that the yen may strengthen again, even in the wake of intervention.The dollar dipped slightly against the yen, down 0.2 per cent to 85.54 yen.Masayuki Doshida, a market analyst at Matsui Securities, said gains inTokyo shares may be limited due to potential selling by retail investors,who had bought Tokyo shares from April to June, even as the market fellin that period. "When the Nikkei rises above 9,500 or so, selling on ral-lies tends to appear by (retail) customers who had been buyers during theslide and are carrying losses," Doshida said.

"I think that is helping put a lid on the market."Kyorin surged 13.3 per cent to 1,368 yen, while Sawai lost 2.7 per cent

to 7,480 yen. A number of exporters shifted into negative territory inafternoon trade, with Honda Motor Co down 0.5 per cent at 3,000 yen andSony Corp down 1.5 per cent at 2,637 yen.

But Canon Inc still clung to gains, closing up 1.4 per cent at 3,905 yen,after saying it plans to build a 15 billion yen ($175 million) inkjet printerplant in Thailand amid soaring demand in Asia.

Shares of companies with exposure to China also dipped in response to aterritorial dispute between China and Japan, said Jujiya's Okamoto. Hitachi

Continued from page 5No #9

or 0.07 per cent, to 10,745.67. The Standard & Poor's 500 Index fell 1.72 points, or 0.15 per cent, to 1,140.99.The Nasdaq Composite Index lost 4.65 points, or 0.20 per cent, to 2,351.18.

Sectors that had rallied, including technology and materials shares, gave back some gains on Tuesday. Dowcomponents Cisco Systems Inc was down 1.3 per cent at $21.46 and Microsoft Corp fell 0.8 per cent to $25.23.

Alcoa Inc fell 1.2 per cent to $11.24, while big oil companies were weak as crude gave up some of its gainsfrom the last session. Chevron Corp dipped 0.4 per cent to $79.66. The central bank acknowledged in Augustthe US recovery had lost momentum, and Fed Chairman Ben Bernanke said it would renew efforts to stimulategrowth if the outlook soured appreciably. A Fed statement is due at about 2:15 pm EDT.

"Whatever the outcome may be from the Fed, there will be an initial kneejerk reaction as it won't satisfy every-one," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut. US housing startsincreased in August to their highest level in four months, while permits for future construction rose, suggestingthe embattled housing market was starting to stabilise. The Dow Jones home construction index added 0.6 percent, and DR Horton Inc rose one per cent at $11.16. Airline shares rose, with the ARCA airline index adding1.4 per cent and rising to a 34-month high. A trade group forecast global airlines will likely post sharply high-er 2010 profits than previously forecast as carriers rebound from the recession.

Credit Suisse downgraded Whole Foods Market Inc, saying sales at the upscale grocer are slowing and thecompany might miss its own comparable sales forecasts. The shares slipped 2.3 per cent to $37.28. CarnivalCorp & Plc reported higher third-quarter sales buoyed by increased bookings. The company lifted its full-yearoutlook and the shares gained 1.8 per cent to $37.73. -Reuters

Continued from page 5No #10

further fund flows into India is significant, as global funds are just about beginning to increasetheir allocations. The brokerage said any market correction could attract cash-rich insurance compa-nies to Indian stocks.

TCS rose as much as 5.1 per cent to 957 rupees and Infosys climbed nearly two per cent to 3,065,both record highs. Larsen & Toubro closed 1.8 per cent higher, after Credit Suisse raised its targetprice on the stock to 2,288 rupees from 1,969, while maintaining an "outperform" on the stock.

Mahindra Satyam rose 4.1 per cent to 95.25 rupees. Bharat Heavy Electricals Ltd rose 1.6 per centto 2,478.95 rupees. EIH Ltd firmed 1.3 per cent to 138.50 rupees. -Reuters

Continued from page 5No #11

Construction Machinery lost 0.9 per cent to 1,853 yen and Komatsu shed one per cent to 1,923 yen. Worries abouta possible dip in the number of big-spending Chinese tourists to Japan also were likely weighing on shares of depart-ment stores such as Takashimaya, which lost 1.7 per cent to 655 yen. -Reuters

and Justice Ghulam Rabbani passed directive on a suo moto case regarding implementation of itsorders on NRO. The bench in its order said that sufficient time had been given to the Ministry butno fresh summary was submitted to Prime Minister as directed by a five-member larger bench onJune 11 and July 5. At the outset of proceedings, the bench had directed Secretary Law MasoodChishti to appear and advise it over the matter. Chief Justice questioned him as to why he had notprepared and submitted a fresh summary to the prime minister. -Agenceis

Continued from page 1No #12

The sentence period of 3 years and 16 days and 10 months and 22 days are left more against Brig(Retd) Imtiaz and Adnan A Khawaja respectively, he further informed. The court also rejected theimmediate bail plea by Adnan Khawaja. Deputy Prosecutor General told the court higher authoritiesof NAB had sought the record in respect of both Brig (Retd) Imtiaz and Adnan Khawaja.

Secretary Establishment Division told establishment division had issued notification of AdnanKhawaja as MD OGDCL as it was not in its knowledge that Adnan Khawaja was ineligible to hold anypublic office and he was convicted by NAB. Orders regarding his notification had come from above,he told. "Adnan A Khawaja continued to work as chairman Newtech despite nullification of NRO bythe SC and later he was appointed as MD OGDCL after accountability court decision while the courthad disqualified him for holding public office for 10 years and his conviction had not been quashed.

Not arresting Adnan Khawaja is tantamount to non-implementing SC orders", CJP remarked.Deputy Chairman NAB is also holding his office illegally after court decision, CJP said.

Directing Attorney General (AG) Maulvi Anwar-ul Haq, the CJP said under the court's decisiononly 10 days were left more with you that permanent chairman be appointed.

NAB prosecutor general presented the record of central jail Rawalpindi in respect of both theaccused and told Brig (Retd) Imtiaz had precious property in Islamabad and high court had setSeptember 23 with regard to hearing in this regard.

The court maintained that their bail could not be extended till the filing of new surety bonds anddecision on new surety bonds would be taken as per law. "Brig Sahib you should go to jail", CJPremarked. "Please allow me two days I will file surety bonds in high court. I can file the surety bondshere if these can be deposited here", Brig (Retd) Imtiaz said.

"Deposit the surety bonds in the respective court", CJP said this while reprimanding him.Furthermore, a high-level consultative meeting was held under the chair of Prime Minister Syed

Yousuf Raza Gilani Tuesday to review the situation arising out of arrest of ex-MD of OGDCLAdnanKhawaja along with former head of Intelligence Bureau (IB) Brig (R) Imtiaz from the courtroom onspecial directive of a three-member bench of Supreme Court.

The meeting was attended by Federal Ministers Rehman Malik, Babar Awan, Qamar uz ZamanKaira and other key government personalities.

According to official sources, it was decided during the meeting that the government would ensurethe implementation of the Supreme Court orders while SC orders on the reopening of Swiss caseswas also reviewed and the government would present its stand in the Supreme Court. -Agencies

Continued from page 1No #13

said that the shortage has been created after Parco plants shutdown due to floods.Ogra is taking strict measures to see that the smaller companies also establish storage facilities that

would ensure fuel availability on all days. -Agencies

Continued from page 1No #14

for achieving the record targets of wheat production this year. Currently the wheat stocks in pub-lic sector are highest and would ensure food security during the coming years also.

Pakistan was already sensitised to the need of fast track collection of quality agriculture data formaking timely policy decisions.-Agencies

Continued from page 1No #15

carried out normally across the country. Irfan Qureshi added that PSO was the only oil supplier ofthe country which has stepped ahead to tend the needs of its customers throughout the country in asituation where its other competitors halted their operations.

Qureshi said that PSO has enough reserve stocks to meet the needs of the country during any kindof crises. Irfan Qureshi claimed that PSO carried on with operations at all its locations round theclock to address the shortage and supplied 50,000 MTs of its 48 percent share in Punjab out of thetotal needs of 1,10,000 MTs across the province. We have saved the country from the dead shortfalland put our supplies across the country intact" he observed. -Reuters

Continued from page 1No #16

during August as investors woes regarding post-flood condition and expectation of uptick yieldcurve in discount rate. The delay in leverage product further hit investor's sentiment during themonth. Open-end funds which contribute almost 85.0 per cent of total Mutual Fund industry sizestands at Rs176.76 billion at the end of August 2010 compared to Rs177.8 billion a month earlier,posted slightly negative growth of 0.6 per cent MoM while closed-end fund industry size stands atRs30.51 billion (dropped by Rs1.77 billion in absolute term).

Moving towards categories, Income & Money Market Funds category has posted asset size growthof 1.7 per cent MoM; thanks to ABL Asset Management which has launched two new funds whichcumulatively added Rs2.8 billion during the month. The category stands at Rs111 billion till August2010 compared to Rs109 in July 2010. Equity funds category showed major decline of 5.9 per centto stand at Rs38.79 billion till August 2010 compared to Rs41.24 billion during July 2010.

The other categories having exposure in equity market has also posted decline i.e. Islamic Equity,Islamic Asset Allocation and Balanced fund categories all of them declined by 5.8 per cent, 4.6 percent & 0.7 per cent MoM.

Continued from page 1No #17

The upcoming phases of rehabilitation and reconstruction, he said would require hectic efforts andconstant monitoring by the elected representatives. MNAs lauded the Prime Minister for his com-ments expressing support to the visit of Maulana Fazal-ur-Rehman chairman Kashmir Committee toUSA. The upcoming visit of Maulana Fazal-ur-Rehman, they said, will effectively present the prin-cipal stance of Government of Pakistan on the Kashmir Issue. -Agencies

Continued from page 1No #18

and no other formula would be applied for the purpose. He said the Prime Minister has given direc-tions for establishment of a revolving Journalists Victim Fund and modalities would be sorted out inconsultation with the PFUJ and National Press Club. -NNI

Continued from page 1No #19

According to reports, US drone plane fired missiles at a vehicle carrying eight militants in Jandolaarea of South Waziristan near Afghanistan's Paktia province. As a result of the missiles attack eightmilitants were killed.-NNI

Continued from page 1No #20

support for the people and Government of Pakistan thick and thin. He said that Pakistan is determined to bring backlost smiles on the faces of the depressed people who have lost every thing in floods. On the occasion, US ambassa-dor informed President on the relief funds from various US organisations to help flood affectees stressing that US willsupport Pakistan till the reconstruction and rehabilitation of flood affectees is completed in this regard. -Online

Continued from page 1No #21

back Rs15.54 billion to the SBP during the above mentioned period against borrowing of Rs19.1 billion inidentical period last year. As per the details, Punjab government only borrowed Rs5.99 billion while Khyber-Pakhtunkhwa, Balochistan and Sindh retired Rs11.97 billion, Rs7.32 billion and Rs2.25 billion respectively.Monetary policy for the next two months (Oct-Nov) is due to be announced on September, 29. Previously, cen-tral bank raised its key policy rate by 50 basis points to 13 percent in July. As per the TFD analyst, today's(Wednesday) Treasury bill auction would give fair picture of next monetary policy.

Any upside in yields in 6-month and 12-month would hint at expected rise in key policy rate while, more par-ticipation in 3-month paper would signal unchanged policy rate stance.

Meanwhile, monetary aggregates during the fiscal year to date (July 1 to September 9, 2010) have declinedwhere broad money supply growth inched up by 0.31 per cent. The private sector credit off take witnessed con-tinued to fall as they retired further amounted to Rs 62.85 billion till September 09, 2010.

Continued from page 1No #22

W A S H I N G T O N :Groundbreaking for new UShomes jumped in August to afour-month high, a tentativesign of stability in the housingmarket after steep declinesbrought by the end of a home-buyer tax credit.

Analysts said the data onTuesday, which came asFederal Reserve policymakersmet to assess the economy, fur-ther allayed fears that therecovery from the worst reces-sion since the GreatDepression was at risk.

It also strengthened the argu-ment against the US centralbank announcing any newmonetary policy easing steps atthe end of Tuesday's meeting.

"It suggests we have hit bot-tom (in housing)," said DavidWyss, chief economist atStandard & Poor's in NewYork.

"The economic numbers in

the last last six weeks havebeen a little bit more encourag-ing and unless (Fed policymak-ers) feel there is a significantmajor risk of a double-dip, Ithink they will try to keep theirpowder dry."

Housing starts rose 10.5 percent, the largest increase sinceNovember, to an annual rate of598,000 units, the CommerceDepartment said. Financialmarkets had looked for a rise tojust a 550,000-unit rate.

Construction was bolsteredby a big jump in activity inthe volatile multi-family seg-ment, which increased bynearly a third to an annualrate of 160,000 units inAugust. Single-family startsincreased 4.3 per cent to a438,000-unit pace, the high-est since June.

Financial markets were littlemoved by the data as investorswaited to hear from the Fed,

which was expected to releasea statement at around 2:15 p.m.(1815 GMT).

Stocks on Wall Street weredown slightly in late morning,while prices for US govern-ment debt rose as traders betthe Fed would at least hintmore easing could be on theway. The US dollar fell againstthe euro.

While data for August --from private-sector jobsgrowth to retail sales -- haveeased fears of a double-diprecession, the economyremains fragile and many ana-lysts believe the Fed willlaunch a fresh round of pur-chases of longer-term govern-ment debt at some point.

However, there is no consen-sus among Fed policymakerswhether a further easing inmonetary policy is needed andwhat threshold should be metbefore taking action.-Reuters

US housing startsat 4-mth high

SYDNEY: Australia's centralbank on Tuesday said interestrates were likely to rise furtherto contain inflationary pres-sures from a mining boom, thebluntest warning yet that itcould resume tightening asearly as October.

In the minutes of itsSeptember policy meeting, theReserve Bank of Australia(RBA) acknowledged someexternal risks from a slowingUS economy and fragile finan-cial markets, yet clearly had itseyes fixed on acceleratingdomestic growth.

"While policy has to be alertto these risks, members consid-

ered that if the central scenariocame to pass it was likely thathigher interest rates would berequired, at some point, toensure that inflation remainedconsistent with the medium-term target," the minutesshowed.

It had decided to keep rates at4.5 per cent at its Septembermeeting since conditionsdomestically looked a littlestronger while those abroadlooked a little weaker, but itnoted that the current level ofrates was appropriate only "forthe time being".

The central bank has keptrates steady for four months,

having led the developed worldin hiking 150 basis pointsbetween October and May.

A run of generally strongdomestic data and a veryupbeat outlook from top offi-cials at the RBA have alreadyled financial markets to pricein a much greater risk of areturn to rate hikes, perhaps asearly as next month.

Interbank futures extendedtheir recent decline to imply aone-in-three chance for a hiketo 4.75 per cent at the RBA'sOctober 5 policy meeting. Amove in November is seen as a72 per cent chance andDecember 88 per cent.-Reuters

Australia cbank predictshigher interest rates

UK publicborrowinghits record

high for Aug LONDON: Britain's budget

deficit last month hit a record

high for the month of August as

higher inflation forced the gov-

ernment to shell out nearly

three times more in interest

payments than it did last year.

But the official figures

released on Tuesday also

showed the government

enjoyed a bigger than expected

windfall from its tax on bank

bonuses, and the broader trend

remains for the deficit to fall as

the economy recovers and the

Treasury implements huge

spending cuts from next year.

The government's tough talk

on expenditure cuts has reas-

sured investors, driving Gilt

yields to record lows even as

worries about peripheral euro

zone debt have weighed on

confidence elsewhere.

The Office for National

Statistics said public sector net

borrowing came in at 15.302

billion pounds in August, well

above analysts' forecasts for a

reading of 12.5 billion pounds

and some 1.8 billion pounds up

on the year.

Analysts described the fig-

ures as disappointing, though a

pick-up in receipts over the last

few months and revenues of

around 3.5 billion from the

bank bonus tax means the

budget deficit for the fiscal year

so far is running well below

year-ago levels.

"There are some positive

revisions to back data, so over-

all it does not look like the pub-

lic finances will be blown off

course for the year as a whole,"

said Philip Shaw, economist at

Investec.

Still, the Conservative/

Liberal Democrat coalition

government will have its work

cut out to meet its goal.-Reuters

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ISLAMABAD: The coopera-tion of Bench and Bar isinevitable for quick dispensa-tion of justice, Chief Justice ofPakistan Justice IftikharMuhammad Chaudhry said.

He said this while address-ing the delegation ofGujranwala District Bar head-ed by its President ChZaighamullah Sansi compris-ing other office bearers andmembers who called on himin the Supreme CourtBuilding.

The delegation discussedwith the Hon'ble Chief Justicethe issues of legal fraternity.

They further informed hislordship about the hardshipsfaced by them regarding theestablishment of SpecialCourts, i.e. Drug & FIA Courtsin their jurisdiction becausethey have to travel long.

They informed the CJ aboutthe National Judicial Policy isbeing fully implementedbecause of which quick reliefis being given to the litigantparties.

The delegation furtherapprised him about the benchand bar cooperation in theirdistrict, issues arising amongstthe lawyers and the district

judiciary are being resolvedwith the cooperation betweenthe bench and bar.

The Chief Justice alsopraised the services ofGujranwala district bar ren-dered in the days of restorationmovements meant for Rule ofLaw, Supremacy ofConstitution and independenceof judiciary.

They complimented hislordship's commitment, dedi-cation and selflessness for thecause of justice. They furtherextended invitation to ChiefJustice to visit Gujranwaladistrict bar. -NNI

Bench-bar sync must for‘straightaway’ justice: CJ

ISLAMABAD: Pakistan'sexports to Malaysia recorded ahealthy increase of 81 per centwith exports of RM352 millionin the first six months of thisyear compared to RM194 mil-lion in the corresponding peri-od of 2009 with rice and onionbeing the biggest contributors.

According to the latest dataobtained from MalaysianTrade Development Authority(MARTRADE), the rice madeup more than half of the totalexports with an export ofRM188 million compared toRM46 million of last year reg-istered a robust growth of 307per cent.

The data further revealed thatonion with an export of RM12million registered robustgrowth compared to exports ofRM0.17 million in the corre-

sponding period of last year. Inthe same period, maize with anexport of RM6 million com-pared to the RM 3.7 millionrecorded a robust growth of 61per cent, cotton yarn with anexport of RM20.2 millioncompared to RM10.5 millionregistered an increase of 92.2per cent and bed linen with anexport of 1.4 million comparedto 0.68 million recorded anincrease of 105 per cent.

The Malaysian exports toPakistan also registered arobust growth of 13.57 per centwith total exports of RM3.22billion compared to RM2.84billion for the first six monthsof last year.

However, Pakistan exports offish, potatoes, woven fabricsynthetic staple fibre, electricappliance of line telephony to

Malaysia registered decline of54.67 per cent, 11.23 per cent,40.15 per cent and 59.90 percent respectively.

On the other and Malaysianexports of insecticides and syn-thetic filament yarn registereda decline of 35.72 per cent and35.02 per cent respectively.

While commenting upon thedata, the High Commissionerfor Pakistan in Malaysia,Masood Khalid said thatalthough the robust growth inthe bilateral trade reflects theever growing business andtrade ties between the twocountries due to FTA signedbetween the two countries inNovember, 2007, the decline inexports of fish, potatoes,woven fabric synthetic staplefibre, electric appliance of line

See # 1 Page 11

Pakistan’s exports toMalaysia vault 81pc

LAHORE: The PML (N)Quaid, Mohammad NawazSharif has urged upon theIndian leadership to enter intomeaningful dialogue with thegenuine Kashmiri leadership.

The PML (N) Chief madethese remarks during the cour-tesy call on him by the IndianHigh Commissioner,Ambassador Sharat Sabharwal,in Raiwind on Tuesday.

During the course of theirexchanges, the former PrimeMinister recalled that he hasalways been a strong advocateof cordial and cooperative rela-

tions between Pakistan andIndia.

To this end, he had taken theinitiative to invite the thenIndian Prime Minister, AtalBehari Vajpayee to Lahore inFebruary, 1999, where the twoleaders had signed the LahoreDeclaration that contained in ita roadmap for resolving thedifferences between the twocountries.

Nawaz Sharif added that hewas convinced that therecould be no genuine peace orstability in the region withouta resolution of the issue of

Kashmir, which has been pri-marily responsible for tensionand conflict between the twocountries over the past 60years.

He called upon the Indianleaders to recognise that apeaceful resolution of the prob-lem, in accordance with thewishes of the Kashmiri people,would enable both India andPakistan to devote their ener-gies and resources to economicgrowth and development oftheir countries and thereby tousher in peace and prosperityto the region. -Online

Put some meaningin Kashmir talks,Sharif tells India

ISLAMABAD: Foreign MinisterMakhdoom Shah Mahmood Qureshihas appreciated the assistance providedby the government and people ofTurkey to the flood affected people inPakistan.

The foreign minister met his Turkishcounterpart Ahmet Davutoglu on thesidelines of the UN General Assemblyin New York, says a press releasereceived here Tuesday from New York.

Foreign Minister Qureshi thanked hisTurkish counterpart for substantiverelief assistance provided by the people

and government of Turkey to floodaffected people in Pakistan. He particu-larly commended private donationsfrom Turkey that reflected strong frater-nal and spiritual bonds between the peo-ple of the two countries.

Ahmet Davutoglu said that the peopleof Turkey, like always, solidly stand insolidarity with their Pakistan brothersand sisters at this difficult moment. Heassured continued support and solidari-ty of Turkey with Pakistan during reliefand assistance phase as well.

See # 6 Page 11

FM floods Turkeywith kudos for its aid

ISLAMABAD: The Senate wasinformed Tuesday that as a result ofsteps taken by the government fish pro-duction and export in the country hasbeen increased manifold.

Minister for Fisheries Mir HumayunAziz Kurd while answering questions inthe Upper House said that the fish pro-duction which was 138 million dollarsin 2004 has been increased up to 237million dollars in the current year. Hesaid increase in production has alsobeen resulted in enhancing income ofthe people living in the coastal areas.

Minister for Health MakhdoomShahabuddin said the federal govern-ment has launched reproductive healthprogramme in all the four provinces andvarious programmes in this regard have

been completed during the last fiveyears. He said a new programme forcare of mothers and children is under-way throughout the country which isbeing supervised by the federal govern-ment.

Minister of State for IndustriesAyatullah Durrani informed the Housethat Pakistan Steel has faced over 39 bil-lion rupees loss during the last twoyears.

Minister of State for Foreign AffairsMalik Ammad Khan informed the Housethat there are 920 Pakistani prisoners inIndian jails while 203 Indian prisoners inPakistani jails. He said that officials inPakistan High Commission in New Delhihave visited various jails in India to pro-vide them assistance. -NNI

Seafood output upmanifold: minister

ISLAMABAD: Federal InteriorMinister Rehman Malik said that morethan 400,000 Watan cards would be dis-tributed amongst the flood affecteeswithin some days while duplicate cardswould be issued to those who have losttheir cards.

Responding to point of order by someAssembly members, Federal InteriorMinister Rehman Malik said that thegovernment has made more than400,000 Watan cards that would be dis-tributed amongst the flood affecteeswithin some days while duplicate cardswould be issued to those who have losttheir cards and Nadra has 92 per cent

data. Talking about registration and card

issuance, he said that task force is beingmade in this regard. He said "we are try-ing our best to make process of issuanceof cards transparent while all kind ofcorruption would be removed with in 24hours".

He said that Nadra is working withprovincial government while toll freenumbers have been set.

He said that the government would takeall possible steps for rehabilitation offlood affectees and frontier constabularyand police would be deployed at all siteswhere cards would be distributed. -Online

400,000 Watan cards tobe distributed shortly

ISLAMABAD: The allianceof various factions of thePakistan Muslim League(PML) is the need of the hour,as there is no ideological dif-ference between these factionsbut some personal problems.

"The leaders of all factionsshould unify the MuslimLeague by offering sacrifices,"said PML-Quaid leader andleader of the opposition inSenate Senator Wasim Sajjadwhile talking to NNI in hischamber at the ParliamentHouse here on Tuesday.

Senator Wasim Sajjad saidthat still there are no signs ofmilitary rule in the countrywhereas an in-house change

would not be in the interest ofthe opposition. He said thePML leaders and supportershave the only wish and that isunification of all the PML fac-tions.

"People want that the partywhich founded the countryshould unite to steer the coun-try out of dire straits. There isno ideological differenceamong PML factions and all ofthem are opposed only to thePakistan People's Party, whichhas ideological difference withthe PML," the leader of theopposition in Senate said.

Senator Wasim Sajjad saidthat PML exists in all

See # 3 Page 11

PMLs get piecedtogether: senator

Elite Forceto guardAdnan

KhawajaLAHORE: Government takingprecautionary measures toensure the security of ChiefJustice Lahore High CourtKhawaja Sharif has deployedcommandoes inside as well asout side the court

According to media report,four Elite Force commandoeshave been deployed in thecourtroom of Khawaja Sharif,while extra police force andelite force commandoes havebeen deployed outside thecourt.

The people entering the courtroom are being searched strict-ly. Government has placed con-crete block outside KhawajaSharif resident and the entry ofcommon people has beenrestricted after that security hasbeen high alerted. -Online

Corpscommander

checks up onSehwan floodKARACHI: CorpsCommander LieutenantGeneral Shahid Iqbal inspectedthe troops deployed in flood-affected areas of Sehwan,Boobuk and Bhan Saeedabadas well as Arral Wah, Manchar,LS Bund and outflow to RiverIndus on Tuesday.

According to an ISPR pressrelease, the corps commandervisited the areas to see theintensity of the floodwater andmeasures being taken to shiftthe people to safer places andrelief camps. He met the troops

See # 2 Page 11

Nine Natosoldierskilled in

copter crashISLAMABAD: At least nineforeign soldiers were killedwhen a Nato helicopter crashedin southern Afghanistan onTuesday.

Quoting official sources, aprivate television channelreported that two Nato troops,an Afghan soldier and a UScivilian were also injured.

The incident occurredbecause of a technical fault,killing nine soldiers on the spotwhile four others also sustainedserious injuries, an official ofNato forces said.

See # 5 Page 11

PSMex-chiefindicted

for corruptionKARACHI: Anti CorruptionCourt (ACC) led by judgeShaukat Ali Memon hasindicted former chairmanSteel Mills, Moin Aftab andother co-accused in a corrup-tion case.

The accused persons havepleaded not guilty while thewitnesses and investigationofficer have been summonedon next hearing.

The accused personsincluding former chairmanMoin Aftab, Samin Ahmad,Brig (R) Abdul Qayyum,Captain Rashid, Attique andothers are charged with com-mitting corruption amountingto Rs22 billion in award ofcontract in respect of canteenof the steel mills and pur-chase of

See # 4 Page 11

Jordan air

chief meets

COAS, CJCSCRAWALPINDI: MajorGeneral Malek SalamehHabashneh, CommanderRoyal Jordanian Air Fore,called on Chief of Army Staff(COAS) General AshfaqParvez Kayani at the GeneralHeadquarters on Tuesday.

According to a pressrelease of the Inter-ServicesPublic Relations (ISPR), thevisiting dignitary remainedwith the army chief for some-time and discussed the mat-ters of professional interest.

Major General MalekSalameh Habashneh also metChairman Joint Chiefs ofStaff Committee (CJCSC),General Tariq Majid at JointStaff Headquarters and dis-cussed professional mattersrelated to progress in bilater-al defence cooperation andrecent regional securitydevelopments especially inthe Middle East andAfghanistan.

According to ISPR,General Tariq Majid alsoconveyed his gratitude forthe relief

See # 7 Page 11