thefinancialdaily-epaper-16-07-2011

International

US stopped military aid on trainers cut See on Page 8

Fortified economic relations with SLanka stressed See on Page 8

America's return from Afghanistan begins See on Page 8

*Crude Oil (brent)$/bbl 117.14

*Crude Oil (WTI)$/bbl 97.17

*Cotton $/lb 99.46

*Gold $/ozs 1,589.50

*Silver $/ozs 38.90

Malaysian Palm $ 1,038

GOLD (NCEL) PKR 43,942

KHI Cotton 40Kg PKR 6,645

Yearly(Jul, 2011 up to 14-Jul-2011)

Monthly(Jun, 2011 up to 14-Jul-2011)

Daily (14-Jul-2011)

Total Portfolio Invest (9-Jul-2011)

-1.22

-1.22

0.60

2805

0.47

3.00

-7.12

-0.10

-0.94

4.26

0.42

SCRA(U.S $ in million)

Portfolio Investment

FIPI (15-Jul-2011)

Local Companies (15-Jul-2011)

Banks / DFI (15-Jul-2011)

Mutual Funds (15-Jul-2011)

NBFC (15-Jul-2011)

Local Investors (15-Jul-2011)

Other Organization (15-Jul-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (10-July-11)

Inflation CPI% (Jul 10-Jun 11)

Exports (Jul 10-Jun 11)

Imports (Jul 10-Jun 11)

Trade Balance (Jul 10-Jun 11)

Current A/C (Jul 10- May 11)

Remittances (Jul 10 - May 11)

Foreign Invest (Jul 10-Jun 11)

Revenue (Jul 10-Jun 11)

Foreign Debt (Mar 11)

Domestic Debt (May 11)

Repatriated Profit (Jul- Apr 11)

LSM Growth (May 11)

GDP Growth FY10EPer Capita Income FY10Population

$18.11bn

13.92%

$24.83bn

$40.41bn

$(15.59)bn

$205mn

$10.10bn

$1.92bn

Rs 1598bn

$59.54bn

Rs 5873bn

$725mn

-2.28%

4.10%

$1,051

176.63mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

18.35

2.00

1.70

11.27

PKR/Shares

111.59

157.51

42.92

36.48

38.68

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor (9 Mths)

Kibor (1 Yr)

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)

13-Jul-2011

13-Jul-2011

13-Jul-2011

20-May-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

15-Jul-2011

13.48%

13.74%

13.90%

14.00%

13.65%

13.56%

13.80%

14.15%

14.25%

13.98%

14.02%

14.07%

14.25%

14.34%

14.46%

Money Market Update

Index Close Change

KSE 100 12,346.52 79.19

Nikkei 225 9,974.47 38.35

Hang Seng 21,875.38 64.82

Sensex 30 18,561.92 56.28

ADX 2,725.25 10.49

SSE COMP. 2,820.17 9.73

FTSE 100 5,843.66 3.29

*Dow Jones 12,464.82 27.70

Global Indices

Symbols Buy (Rs) Sell (Rs)

Australian $ 91.80 92.80

Canadian $ 89.10 90.10

Danish Krone 16.25 16.65

Euro 121.30 123.00

Hong Kong $ 10.65 11.15

Japanese Yen 1.076 1.103

Saudi Riyal 22.87 23.07

Singapore $ 70.20 71.20

Swedish Korona 13.30 13.60

Swiss Franc 97.90 98.90

U.A.E Dirham 23.37 23.57

UK Pound 138.30 139.50

US $ 85.95 86.25

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 92.06 92.27

Canadian $ 89.35 89.55

Danish Krone 16.29 16.33

Euro 121.27 121.55

Hong Kong $ 11.00 11.03

Japanese Yen 1.090 1.092

Saudi Riyal 22.87 22.92

Singapore $ 70.48 70.64

Swedish Korona 13.19 13.22

Swiss Franc 105.20 105.45

U.A.E Dirham 23.35 23.40

UK Pound 138.50 138.83

US $ 85.84 86.02

Inter-Bank Currency Rates

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Cities Max-Temp Min-Temp

Islamabad 35°C 20°C

Karachi 35°C 29°C

Lahore 33°C 29°C

Faisalabad 34°C 30°C

Quetta 37°C 15°C

Rawalpindi 36°C 20°C

Weather Forecast

Karachi, Saturday, July 16, 2011, Shaban-ul-Muazzam 13, Price Rs12 Pages 8

Haqqani says US, Pakshare multi-facet links

WASHINGTON: US andPakistan intelligence chiefsmade progress in mending riftsin a relationship that had souredover the US raid that killed alQaeda leader Osama bin Ladenduring meetings at CIA head-quarters, US and Pakistani offi-cials said on Thursday.

Director General Inter-Services Intelligence Lieutenant-General Ahmad Shuja Pashamade a brief visit to Washington,

arriving on Wednesday and leav-ing on Thursday, to meet withacting CIA director MichaelMorell and other intelligenceofficials. Both sides sought torenew ties of cooperation andmove forward in an often chal-lenging relationship.

"The discussions onThursday between GeneralPasha and the acting director ofthe Central Intelligence Agencywent very well," a US official

said on condition of anonymity."They agreed on a number of

steps that will improvePakistani and US national secu-rity," the official said, withoutdisclosing any more details.

A senior official at thePakistani embassy inWashington said the meetingshelped stabilise the intelligencepartnership between the twocountries.

See # 3 Page 7

Pak, US agree to refurbish tiesISI chief's visit to US "went very well"

ISLAMABAD: President AsifAli Zardari telephoned theleader of Muttahida QaumiMovement (MQM) AltafHussain in the small hours ofFriday morning and discussedthe situation arising out ofZulfiqar Mirza's controversialstatement.

The President telephoned theMQM leader and informed himthat the statement of Mirza hadno endorsement of the partyand were his personal views.

According to media reports,government sources claimedthat telephonic contact betweentop leaders of two key politicalparties is turning point in theirrelations which may materialisein days and MQM would comeback on treasury benches verysoon.

In first phase of rapproche-

ment, sources said, Dr IshratulEbad Khan would resume hischarge as Governor Sindh andthereafter ministers and advi-sors would rejoin their portfo-lios.

However, MQM sourcesdenied such reports and said thatnothing was made final torestore relations between gov-ernment and MQM on previoustrack and MQM lawmakerswould keep sitting on oppositionbenches in both Sindh, NationalAssemblies and Senate.

In a statement, leader ofMQM Altaf Hussain vowed tocontinue cooperation with thegovernment while MQM law-makers sitting on oppositionbenches.

However, political analystsviewed his statement as prefaceof new beginning to restore

strained relations into cordialone.

President Zardari who took aserious note on the situation inKarachi had summoned thesenior minister of PakistanPeople's Party Zulfiqar Mirzato Islamabad on Thursday.

Subsequently, Sindh seniorMinister Dr Zulfiqar Mirzacalled on Co-ChairmanPakistan Peoples' Party (PPP)and President Asif Ali Zardariat Aiwan-e-Sadr here on Friday.

The President during themeeting called for his explana-tion and expressed displeasureover his uncalled for remarks.The President asked him to becareful in making public state-ments and said that neither theparty nor the government willcondone offensive remarks.

See # 2 Page 7

Zardari-Altaf contact viewed

with high hopes

President phones MQM chief, reprimands Mirza

Mohajirs across the country are sons of soil: Zardari

ISLAMABAD: Brushing asidethe possibility of any sugar cri-sis, the government said onFriday that the tax impositionwill not lead to increase in theprice of sugar in the country butinstead the net effect wouldcause decrease in its price byRs1.5 per kilo.

"As regards the newspaperreports of allegation about `tax'imposition leading to increasein price is incorrect", Ministry

of Industries clarified in a state-ment issued here.

The statement added thatthere were two concessions onwhite sugar, firstly the assessedsugar price per kg was fixed atRs28.88 per kg and secondlysales tax levied was 8 per centof this fixed assessable value.

In March 2011, the assessablevalue was taken as the `marketvalue' while the sales tax was

See # 6 Page 7

Ministry rejectschance of sugar crisis

'Tax on sugar not to increase its price'

ISLAMABAD: The federalgovernment has once againdefied orders from SupremeCourt (SC) to restore ZafarQureshi as the ChiefInvestigation Officer in theNational Insurance CompanyLimited (NICL) multi-billionscam case on Friday.

According to a private televi-sion channel, a three-memberapex court bench headed byChief Justice Pakistan (CJP)Iftihkar Mohammed Chaudhrycomprising Justice Khilji ArifHussain and Justice Amir HaniMuslim as its other membersheard the NICL case.

The CJ Chaudhry said thecourt could give orders regard-

ing the restoration of Qureshi;however, it wanted governmentto function its way.

The court also wondered as towhy Zafar Qureshi was sus-pended, remarking it would bewritten in history for the gov-ernment to have removed anhonest officer from a caseinvolving corruption.

Justice Khilji Arif queried asto why Zafar Qureshi was notbeing restored to his office.

Subsequently, Chief Justiceof Pakistan, IftikharMuhammad Chaudhryobserved summary moved bythe Secretary Ministry ofInterior for suspension of

See # 4 Page 7

Govt evades to

restore FIA official

NICL scam case

TFD Report

KARACHI: Owing to arson,killings, firing incidents andriots during five days, the par-tial or complete shutdown ofbusiness and industrial activi-ties has cost Rs37 billion

Main reason of standstill inmost of the business activitieswas thin turnover due to non-plying of public transport andrisk to put on roads privatetransport owing to widespreadlawlessness in the city.

In a rare move, Karachi Stock

Exchange had to close sharetrading on Thursday 75 minutesbefore schedule closure of 3 pmowing to spilling of violenceacross the city.

In early days of week the mainreason of lackluster and shut-down in business and industrialactivity was rumour mongering,uncertainty and uneasy calm incity after killing of 100 innocentpeople mostly in Orangi Townand subsequent tirade by leadersof three main political partiesagainst each other.

See # 5 Page 7

City mayhem

costs Rs37bn

ISLAMABAD: President Asif Ali Zardari in a meeting with the Chinese delegation headed by

Chairman Dongfang Electric Corporation Si Zefu at Aiwan-e-Sadr.-APP

See on Page 8

Saturday, July 16, 20112

KARACHI: Sindh HomeMinister, Manzoor Wasanhas announced lifting ofthe ban on motorcycle pil-lion riding in Karachi hereon Friday.

He has also directed theimmediate implementa-tion of the issued circular.Within last few days pil-lion ridding was banned inthe city due to which morethan 125 men were killed,traders faced loss of bil-lions of rupees, almost100 cars were burnt.

During these days policekept on arresting the pil-

lion riders instead ofarresting the terrorists.

According to details, theSindh Home Minister,Manzoor Wasan calledupon a special meeting forthe maintenance of lawand order in wholeprovince especially inKarachi. In this meetingAdditional ChiefSecretary InteriorDepartment WaseemAhmad, Consultant ofInterior Affairs SharafUddin Memon, IGP SindhWajid Ali Durrani and var-ious other officers partici-

pated.The home minister

underlined the need ofmaking sure of all possibleoptions under an effectivestrategy for maintaininglaw and order and routingcrimes.

The home minister saidthat the relevant SHOswould be held responsiblefor increase in crimes andactions would be takenagainst them.

The meeting alsodecided to lift the ban onmotorcycle pillion rid-ing. - Online

Ban on pillion

riding lifted

in Karachi

KARACHI: A petitionchallenging the revival ofthe commissionerate sys-tem was filed in theSindh High Court (SHC)on Friday.

The petition, filed by

Moulvi Iqbal Haider, thechairman of AwamiHimayat Tehrik Pakistan,stated that in the light ofthe Constitution's Article140, provincial assem-blies did not have the

power to abolish the localgovernment system.

Provincial assembliesdo not have the power toabolish the said system asthe local governmentordinance was enforced

after approval from theparliament.

Earlier on Wednesday,the system's restorationin Sindh was challengedin the Supreme Court byMr Haider. - NNI

Commissionerate system challenged in SHC

ISLAMABAD: Ministerfor Religious Affairs SyedKhursheed Shah has saidthat the government hasinitiated work on variousprojects having capacity togenerate 20,000 megawatts electricity.

Addressing the partici-pants of Izhar-e-Tashakurceremony arranged by thereinstated employees ofPeople's programme, hesaid: "the government istackling energy crisis seri-ously. The work was con-tinued on various projectshaving capacity to gener-ate about 20,000 mw elec-tricity."

He said the governmenthas allocated about Rs. 35billion in current financialbudget for energy sector.Work on about 17 small,medium and big dams is inprogress, he said.

The Minister said thePPP-led government hasadded about 32,00 mwpower in the national gridstation.

He said a commissionshould be constituted toascertain the responsibilityof the energy crisis in thecountry.

"The commission shouldinvestigate from 1988 to2008 and pinpoint theresponsible of the energy

crisis." He recalled that in the

era of Shaheed BenazirBhutto, the country hadsurplus energy. KhursheedShah said PPP governmentalways works for the poor.

He said the governmenthas regularized about4,000 contract and dailywages employees beforeJune, 30.

The Minister said about86 doctors in various citieshave also been regularized.He said PPP-governmenthas always given employ-ment to the deservingyoungsters.

"We have always beencriticized by the opposi-tion for providing jobs toyoungsters and if this is acrime we will continuesuch crimes in future too."

He said it was the prom-ise of Shaheed BenazirBhutto to reinstateemployees and it has beenfulfilled by President AsifAli Zardari through anordinance.

The Bhutto familieshave rendered unmatchedsacrifices for the strength-ening of democracy, hesaid.

On the occasionIncharge People's LabourBureau, ChaudhryManzoor Ahmad said the

government is taking allpossible steps to providerelief to masses.

He said the governmenthas increased about 135per cent salaries of theg o v e r n m e n temployees.The govern-ment has also increasedpension.

He said that about 8,000quarters would be con-structed for the labourers,providing them accommo-dation facility.

The PPP would continuethe mission of its leaderShaheed MohtarmaBenazir Bhutto of servingthe poor masses whether itremains in the power ornot, he said.

"PPP is a hope for thedeprived people of thesociety," he said. PPP-ledgovernment was makingpolicies for the bettermentof the masses adding hesaid, democracy was bestoption to put the countryon path of progress.

He said the governmentwas taking solid steps forthe provision of basicfacilities to the people.

Manzoor said deathgrant has been increasedup to 500,000 to 300,000.Dowry grant has also beenincreased from 70,000 to100,000. - APP

20K MW powergeneration in

process: minister

ISLAMABAD: FederalMinister for Interior,Senator A. Rehman Malikhas appreciated the excel-lent and professional roleplayed by the RangersSindh for averting blastduring the recent troublein Karachi.

According to a pressrelease, Rehman Malik

has ordered for deploy-ment of more troops ofRangers and FC in the cityto protect the life andproperty of the citizens.He said that nobodyshould be allowed to takelaw into their hands andlaw violators be dealtstrictly.

Federal Minister for

Interior, Senator A.Rehman Malik alsodirected that foreignersshould possess properIdentification (ID) andvalid visa with themwhile traveling in thecountry. The foreignersshould refrain from trav-eling to the restrictedplaces. - Online

Malik ordersdeployment of

more troops in Khi

TFD Report

LAHORE: The formerChairman of PakistanPoultry Association (PPA)and former LCCI SeniorVice President AbdulBasit Friday expressedgrave concern over eightpercent decline in ForeignDirect Investment (FDI)and Portfolio Investmentduring the financial year2011.

In a statement, the AbdulBasit said that accordingto the State Bank ofPakistan, out of totalinvestment, FDI stood at$1.573 billion at the end of

FY11 as compared to$2.15 billion in FY10,depicting a decrease of$577 million.

He said that it was eyeopener that even thosecountries are reluctant toinvest in Pakistan whopushed Pakistan in to thefire of "War against terror-ism". He said that in thefinancial year 2009-10 thevolume of US investment inPakistan was $468.3 mil-lion but in the financial year2010-11 it declined to $238.9. Likewise, in thesame period UK investmenthas also declined from$294.6 million to $208.1.

Foreign investment decline worries

businessmen

TFD Report

KARACHI: EtihadAirways today reported itsmost successful first halfyear, with revenues up 28per cent to US$ 1,720 mil-lion (H1 2010: US$ 1,342million), driven by solidperformances in both pas-senger and cargo activities.

A 2 per cent reduction incosts per available seatkilometer, despite largeincreases in oil prices, alsohelped deliver a positiveEBITDAR (earningsbefore interest, tax, depre-ciation, amortisation andrentals) in the six monthsfrom January 1 for the firsttime.

The results mark contin-ued progress towards theairline's goal of breakingeven this year and moving

into sustainable profitabili-ty in 2012.

James Hogan, EtihadAirways Chief ExecutiveOfficer, said the resultswere achieved despite astill fragile economy and,at times, difficult operatingconditions.

They were released asEtihad, the national airlineof the United ArabEmirates, prepares to sig-nificantly expand its globalnetwork.

"We are determined tobuild a schedule whichincreases customer choiceand attracts local point-to-point traffic in line with theAbu Dhabi 2030 plan,"Hogan said.

The delivery of five newwide-body passenger air-craft - three A330-300s andtwo B777-300ERs duringthe 2011 summer allowedfrequencies to be increasedto several major markets.

Manchester becomes adouble -daily destinationfrom August 1. Daily serv-ices were also introduced toGeneva, Milan and Beijing,while two extra flights toBrussels enabled theBelgian capital to be serv-iced eight times a week.

Etihad Airwaysearned 28pc more

in 1HCY10

I S L A M A B A D :

Muttahida QaumiMovement (MQM)Friday backed up JamiatUlema-e-Islam (JUI-F)for seat of oppositionleader in the Senate.

Muttahida senator TahirHussain Mashhadi sub-mitted at the SenateSecretariat the applicationsupporting AbdulGhafoor Haideri asLeader of the Opposition

in the Senate.With backing of six

MQM senators, JUI-Fgained prominent majori-ty of 18 members, as itpreviously enjoyed thesupport of at least 12 sen-ators.

Secretary Senate RajaAmeen said MQM mem-bers would be allottedopposition seats in senatesession starting from July21. - NNI

MQM backsJUI-F for Senate

Opp leader

Impact of

colonization

on Sindh

discussedTFD Report

KARACHI: Venue wasthe Conference Hall ofAlliance Française deKarachi (AFK - FrenchCultural Centre) where eru-dite crème de la crème ofthe Metropolis convergedon Tuesday to listen to thevisiting scholars MichelBoivin and Matthew Cook.

In a 2010 work, publishedby Oxford University Press(Pakistan), Michel Boivinand Matthew Cook,brought to light a reviewfocused on Sindhi Studiesin the early 19th century.

Centered on society andhistory, the book providesan analysis of diverseissues related to SindhProper and Sindhi Diasporain India and all over theworld. Notwithstanding thewide-ranging exploration, anumber of issues logicallymissed out.

Matthew Cook also nar-rated British attack onBugtis in which they mas-sacred 560 tribesmen in 2hours.

French Scholar MichelBoivin, in his discourseduly illustrated with slides,shed light on ColonialPower, Sufism & ImperialPolicy in Sindh, referring toseveral works including lit-erary Anthropology ofSouth Asia by Farina Mir &Bombay Islam by historianNile Green.

Rangers' case

Court expelsDIG for

being lateKARACHI: A court hear-ing a case regarding assas-sination of a matriculationstudent Sarfraz Shah sentDIG, head of investigationteam out of the courtroomfor being late.

Anti-Terrorist Court-1(ATC) is currently hearingSarfraz Shah murder case.Deputy Inspector General(DIG) East, Sultan Khwajaturned up late at the court-room. On this, court,expressing displeasure,ordered him to leave thecourtroom.

It should be mentionedhere that the DIG remainedabsent three times earlier.On this, the court issuednotice to IG Sindh to makehim stand by discipline.

The court summoned IGSindh to appear before thecourt. NNIAJK elections

No-change in Karachi

polling spots

decreedMUZAFFARABAD: TheAzad Jammu and KashmirHigh Court has directedFriday not to changepolling stations in Karachifor LA 23 and 36 elections.

According to a private tel-evision channel, theMuttahida QaumiMovement (MQM) had filedthe contempt of court appli-cation in Sindh High Courtbut with the orders of AJKcourt, MQM has withdrawnthe application. NNI

KARACHI: Chairman Pakistan Chemicals and Dyes

Merchants Association Muhammad Haroon inaugurat-

ing the Judia Bazar branch of Burj Bank.- Staff Photo

FBR extendsdate forpayment

of taxesISLAMABAD: FBR hasextended date for paymentof taxes/duty and filling ofSales Tax/FED returns up to22nd July for the period June2011, for persons registeredin LTU/RTOs, Karachi.

The decision has beentaken to facilitate the taxpayers who could not paytaxes or file salestax/FED returns due tolaw and order situation inKarachi. - Online

KARACHI: Karachi Chamber of Commerce & Industry organised a presentation on the “energy crisis unconventional mitigation approach",

Masood Abdali, Country Manager, Weatherford, was the Chief Guest.

Water & Sanitation Facilities

in Coastal Areas of District

BadinADP No.1631

Water & Sanitation Facilities

in Coastal Areas of District

ThattaADP No.1631

Rehabilitation of Hand

Pumps contaminated from

Arsenic inrural areas of

District Thatta ADP

No.1632




District Dadu ADP No.1632




District Khairpur ADP

No.1632




District Ghotki ADP

No.1632

Sanitation Scheme (canal &

sweet water Zone) in

UnionCouncils of District

Hyderabad ADP No.1633.




Tando Muhammad Khan

ADP No.1633.




Matiari ADP No.1633.


sweet water Zone)in


Tando Allahyar ADP

No.1633.




Mirpurkhas ADP No.I633.




Sanghar ADP No.1633.

7.50 0.150 1,500 6 Months

7.50 0.150 1,500 6 Months

5.699 0.1139 1.500 6 Months

15.42 0.3084 -3,000 6 Months

13.892 0.2778 3,000 6 Months

4.986 0.0997 1,500 6.Months

2.50 0.050 1,000 4 Months

2.50 0.050 1,000 4 Months

2.50 0.050 1,000 4 Months

2.50 0.050 1,000 4 Months

2.50 0.050 1,000 4 Months

2.50 0.050 1,000 - 4 Months

1

2

3

4

5

6

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8

9

10

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12

1

2

Name of scheme Estimated Earnest Tender Periodcost in (M) Money (M) Fee(Rs.)

NO.XEN/RDD/Tenders/2011/ 63

OFFICE OF THE EXECTUVIE ENGINEER

RURAL DEVELOPMENT DEPARTMENT

OLD SRTC OFFICE PREMISES, WAI IDAT

COLONY NEAR AGRICULTURE COMPLEX

HYDERABAD

Hyderabad, dated the 13th July, 2011022-9201391

NOTICE INVITING TENDERS Sealed Tenders arc invited as per SPPRA Rules from the Interested

Persons/ Firms/Contractors who wish to participate in the tenders

on B-1 / B-11 Form for biding of the following works.

PROGRAMME FOR ISSUE / RECEIPTAND OPENING OFTENDERS

Last date of receipt of appli-

cation for issuance ofBlank

Tenders from publication of

NIT upto 4.00 pm

Date of receipt of Tenders

and opening(Receipt of-ten-

ders upto 12.00 Noon &

Opening at 2.00 PM)

2/8/2011 08-08-2011 11-08-2011

3/8/2011 9/8/2011 12/8/2011

s.# Particulars 1st Attempt In case of un-responded

works

2nd Attempt 3rd Attempt

TERMS AND CONDITIONS OF THE TENDERS

i) Contract documents and other terms and conditions can be seen and blanktenders can obtained from the office of the undersigned on any working dayduring working hours after publication of advertisement upto the dates men-tioned above on payment documents charges (Nonrefundable) and submissionof Call Deposit of any reputed Bank of Pakistan, in the name of undersigned.ii) No conditional tenders will be entertained.iii) The tender will be opened at 2.00 PM in presence of the Contractors or.their authorized agents who are present at the time. other terms and condi-tion, specifications, drawing & design can be seen in the office of the under-signed on any working day during working hours.iv) If the undersigned happens to be out of the Headquarter on the date ofopening of tenders the same will be opened on the next working day in pres-ence of interesting bidders or their authorized agents.v) The procuring agency may reject all bids or proposal at any time prior tothe acceptance of a bid or proposal under SPPRA Rule-2004.vi) Registration with Income Tax Department (NTN Certificate) and copy of CN IC.vii) Bank Statement from schedule bank.viii) Registration from the Engineering Council for the current financial year.ix) Undertaking on Affidavit the firm is not involved in any litigation orabandoned any work in the Department.x) Affidavit to the effect that the Firm/Contractor have not been black listedpreviously by any executing agency.xi) Affidavit to effect that all documents/particulars/information furnished are true & correct.xii) In case of firm, list of Partners/Partnerships Deed, giving full particularsof Directors/Proprietors or other connected alongwith Power of Attorney. Incase of being sole proprietors such undertaking on Affidavit be furnished.

EXECUTIVE ENGINEER

RURAL DEVELOPMENT

DEPARTMENT

HYDERABAD

s.#

ADP SCHEMES

INF/KRY-2574/2011

3Saturday, July 16, 2011

LONDON: Oil rose on Fridayas the market focused on thepotential for a weaker dollaramid concerns about US budgettalks meant to cut deficits andavert a debt default.

US crude, leading the oil com-plex, was up $1.16 or 1.2 percentat $96.85 a barrel by 1436 GMT.Brent crude was up 67 cents, or0.6 percent, at $116.93 a barrel.

"It is all about the US debtceiling. If they do not do adeal, then Moody's will down-grade US debt," a New York-based trader said.

After the prospect of a secondround of quantitative easing(QE2) drove dollar weaknessand spurred a strong rally acrossthe commodities complex in thefinal quarter of last year, analystssaid traders could be positioningthemselves for a repeat of that.

President Barack Obama sus-pended US budget negotiationsfor the day on Friday to givecongressional leaders a chanceto come up with a "plan ofaction" on how to unblocktalks. The talks may resumeover the weekend.

Obama, who had vowed tomeet top lawmakers every dayuntil a deal is reached to raise theUS debt limit, gave topDemocrats and Republicansuntil Saturday morning to recon-sider their positions in the high-stakes negotiations.

Obama was due to hold a newsconference Friday at 1500 GMT.

Earlier this week, Moody'sInvestors Service warned forpotential downgrade of US debt.

Standard & Poor's chimed inon Friday, warning that therewas a one-in-two chance it could

cut the prized triple-A ratingwithin the next 90 days if a dealto raise the government's debtceiling is not struck by the WhiteHouse and Republicans.

Earlier on Friday whenEuropean traders were a major-ity of the players in the oil mar-ket, the same US debt woedrove oil prices lower, beinginterpreted as a threat to theglobal economy. The UnitedStates is the world's largesteconomy and the euro-zonehas already been hit by spate ofdowngrades.

The market was also weigh-ing the possibility of a secondround of strategic petroleumreserve releases. Germany andItaly are likely to oppose a sec-ond release, a French govern-ment source said on Friday. -Reuters

Oil rises on US debt

fears, EU bank stress testNEW YORK: The euro fellagainst the dollar for a secondstraight day on Friday,weighed down by concernsabout European bank stresstest results due later in the dayand unexpectedly weak USdata that fueled risk aversion.

Unexpected contraction in aNew York state manufacturingindex in July and a drop in USconsumer sentiment boostedthe safe-haven greenback at theexpense of the euro and otherrisk-sensitive currencies suchas the Australian and NewZealand dollars.

But the focus remainedsquarely on the critical euro-zone bank stress tests due at1600 GMT. They are expectedto show that around 10 to 15lenders have insufficient capi-tal to withstand a prolongedrecession. Traders, however,cited talk that banks failing thetests could actually numbermore than 20.

"The key number is 15. If the

number is higher than 15 banks,then that would create a distur-bance in euro/dollar," said BorisSchlossberg, director of FXresearch at GFT in New York.

These stress tests, he added,are "extraordinarily detailed intheir analysis so there may besomething in the details thatcould be troubling for theeuro." In midday New Yorktrading, the euro slipped 0.1percent to $1.41243, stillabove a four-month low of$1.38376 hit this week.

Traders said demand fromsovereign names had support-ed the euro-zone single curren-cy earlier, though they expect-ed gains to be limited due tooffers between $1.41900 and$1.42250. On the week, theeuro was down 0.7 percent ver-sus the dollar. Schlossberg alsosaid the weak US data "createda bit of risk aversion."

"What you're seeing acrossthe board is a big global slow-down on top of the European

sovereign debt crisis," headded, a scenario not exactlyconducive for risk-taking.

The ICE dollar index was flatat 75.217. The fact that thecore reading of US consumerprices for June was higher at0.3 percent did not really hurtthe dollar, as the data suggest-ed another round of quantita-tive easing was not imminent.

But the impasse on the USdebt ceiling talks remained aheadwind for the US dollar.Standard & Poor's earlier saidthere was a one-in-two chanceit could cut the United States'credit ratings if no deal wasreached on raising the govern-ment's debt ceiling.

The euro outlook was alsoshaky on worries about whetherEurope could find a solution tothe debt crisis in Greece and pre-vent contagion to larger coun-tries such as Italy, highlighted bythe rising cost of insuringperipheral euro-zone debtagainst default. -Reuters.

Euro weakens for 2nd

day on stress test jittersObama gives congressional leaders weekend deadline for deal Market cautious before EU bank stress tests

MUMBAI: The Indian rupeeweakened on Friday weigheddown by losses in local sharesand oil importers' demand forthe dollar, but came off theday's low as the euro steadiedagainst the greenback.

The partially convertiblerupee closed 44.5325/5425 perdollar, 0.1 percent weaker thanThursday's close of44.4950/5050. It had moved ina narrow band of 44.4725-44.5850.

"There was some flows in themorning, but thereafter good(dollar) buying was seen onweak stocks and euro. Therupee was mainly looking ateuro for direction," said HariChandramgathan, a senior for-eign exchange dealer withFederal Bank.

Indian shares logged theirfirst weekly decline in four andshed 0.3 percent on Friday, asforeign funds opted to lock in

gains, with investor cautionseen rising ahead of the centralbank's policy review thismonth.

Traders said demand for thegreenback from oil importersalso weighed on the local unit.

The one-month onshore for-ward premium was at 26 pointsfrom 24 on Thursday, while thethree-month was steady at70.25 points and the one-yearwas at 229.50 points versus231.50.

One-month offshore non-deliverable forward contractswere quoted at 44.70, weakerthan the onshore spot rate.

In the currency futures market, the most traded near-monthdollar-rupee contracts on theNational Stock Exchange wasat 44.6000, while those on theMCX-SX and the United StockExchange were both at 44.6025.The total volume was at $8.62billion. -Reuters

Indian rupee ends off

lows as euro steadies

NZ & Aussie

dollar firm,

await EU bank

stress testWELLINGTON/SYDNEY:The New Zealand andAustralian dollars firmed onFriday after the US currencydipped following another threatof a ratings downgrade for theUnited States, though trade wasthin ahead of the release ofEuropean bank stress tests.

The Australian dollar nudgedhigher to $1.0734, from$1.0717 in New York. The cur-rency, which has gained 5 per-cent this year, remained withinsight of a two-month peak of$1.0807 struck on Tuesday.Resistance is seen at $1.0813,with support from $1.0692.

Traders are wary of taking bigpositions ahead of the much-anticipated release of stress testson 90 European banks due laterFriday, which could force someto seek state aid. As a result, theAntipodeans were holding intight ranges.

"The kiwi is still benefitingfrom the GDP data," said ANZ-National head of market eco-nomic and strategy KhoonGoh, adding that markets werealso cautious in the run up tomore US data later on Friday.

Support for the kiwiremained at $0.8400 and belowthat $0.8370, with $0.8480 thelikely cap to the topside aheadof a renewed move above$0.8500. The kiwi, whichgained nearly 1 percent thisweek, ranks among the world'stop performers this year.

The kiwi was boosted onThursday after first-quarterGDP data showed the economywas picking up momentum thatmay cause a rate hike this yearto choke off inflation pressures.

A majority of analysts in aReuters poll now expected thecentral bank to start raising inter-est rates later this year. TheAussie recouped some of its loss-es against the kiwi at $1.2738,slowly recovering from a 7-monthtrough of NZ$1.2655 struck earli-er in the week. -Reuters

KUALA LUMPUR: Malaysianpalm oil futures retreatedonFriday on expectations ofhigher supply and an uncertainglobal economic outlook.

Traders largely ignoredstrong export data, focusinginstead on the debt crises in theeuro-zone and the UnitedStates that may slow globaleconomic growth.

Intertek Testing Servicesreported Malaysian palm oilexports rose 12percent for July1-15 compared to a month ago.Another cargo surveyor saidexports during the same periodrose 4.6 percent.

Malaysia's June palm oilstocks hit an 18-month high of2.05 million tonnes,and traderspredict the figure will rise moreas planters push the harvestbefore the Muslim festival ofEid Al-fitr in August.

The benchmark Septembercrude palm oil contract on the

BursaMalaysia Derivativesexchange fell 0.9 percent to 3,116ringgit ($1,038) atonne. Overalltraded volume was light at 22,251lots of 25 tonnes each,comparedto the usual 25,000 lots. The samecontract hit a near three-weekhigh the previous day on the backof a firmer grains complex andcrude oil.

Palm oil prices along withother commodities in the previ-ous session after FederalReserve Chairman BenBernanke dashed hopes foranother quick economic stimulusthat could have boosted rawmaterials demand. Other veg-etable oils were mixed.US soyoilfor August delivery rose 0.3 per-cent on the back of firmer USgrains complex with some helpfrom hot weather in the country.

The most active May 2012soyoil on China's DalianCommodity Exchange barelymoved. -Reuters

Palm retreats on supply

build up, econ woes

LONDON: Gold slipped onFriday undermined by growingperceptions further stimulusmeasures from the United Stateswere unlikely and by a higherdollar against the euro, whichwas under pressure from con-cern about the results ofEuropean bank stress tests.

Spot gold was bid at $1,583.49a troy ounce at 1310 GMT from$1,586.75 an ounce late in NewYork on Thursday when the pre-cious metal hit a record high of$1,594.16.

Gold recovered some lossesafter US annual core inflation,which excludes food and energy,for June rose to its highest levelsince January 2010.

"High core inflation ... reducesthe chances of more (US mone-tary easing) and should supportthe dollar," said Carsten Fritsch,commodity analyst atCommerzbank.

Gold is also used to protect

investment portfolios againstinflation, which could be fuelledby excess liquidity.

The Fed's $600 billion bondpurchase programme that endedin June -- dubbed QE2 --pumped large amounts of cashinto the global financial system,much of which found its way tocommodities sparking a sharpprice rally.

"The biggest risk to gold atcurrent record prices is not justinvestors banking profits - assome did after Fed ChairmanBernanke poured a little coldwater on QE3 expectations yes-terday - but also the threat of asizeable upswing in scrap sup-ply," UBS said in a note.

"For the past 12 months ormore, scrap sales have beenmoderate, never reaching a levelto significantly impact risinggold prices. But feedback fromour refining contacts this weekindicates that current scrap flow

is noticeably above normal lev-els." The European BankingAuthority at 1600 GMT publish-es results of its stress tests of 91lenders along with measures tobolster capital for those thatfailed and for those that nearlyfailed. Holdings of the largestgold-backed exchange-traded-fund (ETF), New York's SPDRGold Trust and that of the largestsilver-backed ETF, New York'siShares Silver Trust remainedunchanged.

Spot silver was bid at $38.50an ounce from $38.18 late onThursday when it saw $39.34 anounce, its highest since May 11.

"In light of persisting sover-eign debt woes, we considergold as a safer place to be com-pared to silver."

Spot platinum was bid at$1,757.00 an ounce from$1,760.80 late on Thursday andpalladium was at $774.22 anounce from $772.73. -Reuters

Gold undermined by

Bernanke, firm dollar

ICE sugar

turns higher

as uptrend

resumesLONDON: Raw sugar futures

on ICE turned higher on Friday

with the market showing signs

of resuming its uptrend after

suffering a technically driven

setback.

Cocoa futures were slightly

higher, supported partly by

constructive second-quarter

grind data, while coffee regis-

tered modest losses.

"We still seem to be in a

strong uptrend (on sugar) with

a fundamental 'story' to justify

it...buying the dip rather than

selling the rally still seems the

order of the day," brokers

Sucden Financial said in a mar-

ket note on Friday.

October raw sugar on ICE

was up 0.51 cent or 1.8 percent

at 29.53 cents a lb at 1403

GMT, rebounding strongly

from a low earlier in the ses-

sion of 28.50 cents.

Dealers said earlier weakness

had reflected a technical cor-

rection after a prolonged

advanced with culminated in

October setting a contract high

of 31.33 cents on Wednesday.

The market continued to

keep a close watch on the out-

look in top producer Brazil

with diminishing crop

prospects helping fuel the

recent run-up in prices.

August white sugar on Liffe

expired around midday with

around 200,000 to 300,000

tonnes expected to be tendered

against the contract.

October white sugar was off

$0.60 or 0.1 percent at $763.90

a tonne.

Arabica coffee futures on

ICE fell slightly with the mar-

ket looking to consolidate after

a steep advance on Wednesday

was followed by a sharp set-

back on Thursday.

September arabica coffee on

ICE eased 0.85 cents or 0.3

percent to $2.5750 per lb.

Dealers said roaster buying

had helped to limit losses in

robusta coffee futures on Liffe

with September off a marginal

$6 at $2,300 a tonne.

Cocoa futures on Liffe turned

higher, supported partly by

second-quarter grind data.

Dealers noted the North

American second-quarter grind

showed a 6.22 percent rise fol-

lowing an 8.3 percent rise in

the European grind

September cocoa on Liffe

was up 14 pounds at 1,990

pounds a tonne.September

cocoa on ICE rose $17 to

$3,173 a tonne. -Reuters

LONDON: Copper rose onFriday after data showed USconsumerprices fell slightlymore than expected, but late inthe day it pared gains asthe dol-lar rose on fears about the resultsof European bank stress tests.

Three-month copper on theLondon Metal Exchange closedat $9,672 atonne from $9,630 atonne at the close on Thursday.

Prices had climbed to$9,723.75 earlier in the sessionafter data showedUS consumerprices in June posted theirbiggest drop in a year, but cameunderpressure as the euro fellagainst the dollar on concernsahead of European bankstresstests.

But the results of the tests,which came out after LME ring-trading closed,showed that eightof 90 banks had failed, roughly

in line with expectations.Thetests did not build in theimpact of a Greek default, andall big banks passed.

"The fiscal situation on bothsides of the Atlantic is messy andmay not beclarified for sometime to come," Nic Brown, headof commodity research atNatixissaid. President Barack Obamasuspended US budget negotia-tions for the day onFriday togive congressional leaders achance to come up with a "planof action"on how to unblocktalks meant to cut deficits andavert a debt default.

Ratings agency Standard &Poor's warned there was a one-in-two chance it could cut USratings if no deal is reached onraising the government's debtceiling. Also diminishing hopesof a quick economic rebound,

US consumer confidence fell toits lowest level in more than twoyears in early July, and factoryoutput stalled in June.

Copper inventories in ware-houses monitored by theShanghai Futures Exchange rose22.3 percent from last Friday, theexchange said on Friday.

Copper inventories at LMEwarehouses were unchanged at462,025 tonnes,latest datashowed. Still, analysts are opti-mistic about copper's longer-term outlook. In London, theLME said that warehousingfirms with operations in onelocation storing more than900,000 tonnes will have to loadout a minimum of3,000 tonnesper day from next April and thatcompanies which don't complycould fall off its approval list. -Reuters

Copper rises, eyes on

bank stress tests

Indian sugarends steadyfor 3rd day

MUMBAI: India's sugar pricesended steady for a third straightsession on Friday as a rally ininternational market out-weighed softening in demandand hopes of bumper cane cropin 2011/12, traders and analystssaid.

The most active sugar forAugust delivery on theNational Commodity andDerivatives Exchange endedunchanged at 2,791 rupees per100 kg.

In Kolhapur, a key market intop producer Maharashtra, themost traded S-variety endedflat at 2,700 rupees per 100 kg($60.65) per 100 kg.

"Demand was weak today.Stockists were not active.Millers were not reducingprices," said a member ofBombay Sugar MerchantsAssociation.

London white sugar futuressoared to a record peakWednesday on concerns overthe crop in Brazil, the world'sbiggest producer.

India has already allowedexports of 1 million tonnesunder Open General Licencescheme for 2010/11 year end-ing in September.

India, the world's top consumerand the biggest producer afterBrazil, should churn out 24.2million tonnes in the current2010/11 season and output mayjump to 26.5 million tonnes in2011/12, higher than the coun-try's estimated consumption ofaround 22 million tonnes, indus-try estimates. -Reuters

SINGAPORE: Asian curren-cies were steady to easieragainst the dollar on Friday,with the Singapore dollarpulling back from a recordhigh, as investors turned cau-tious ahead of the release ofEuropean banks' stress testresults later in the day.

The Singapore dollar earlierrose to as high as 1.2155against the US dollar, matchinga record high first struck onThursday, but later lost steam,tracking the euro's drop againstthe dollar.

Elsewhere, the Indonesianrupiah dipped in the face of dol-lar demand related to local fix-ings, and the Indian rupee alsoretreated against the dollar.

"Everyone is waiting to seewhat the EU will come outwith, there is the bank stresstest coming out. People are allwaiting for those things tocome out before they're willingto decide what the next moveis," said Perry Kojodjojo, FXstrategist for HSBC in HongKong.

In addition to the results ofEuropean banks' stress tests

due later on Friday, investorsare focusing on a possible sum-mit of euro-zone leaders nextweek. The implications forAsian currencies, if ratingsagencies such as S&P were toactually downgrade the UnitedStates, are not clear cut, tradersand analysts said.

One factor that has supportedAsian currencies this year ismonetary tightening by Asiancentral banks, in contrast withthe US Federal Reserve's veryloose monetary policy of keep-ing interest rates close to zero.

The dollar edged higheragainst the Indonesian rupiah,helped by dollar demand relat-ed to local fixings. Dollar/rupi-ah also drew support frombroad firmness in dollar/Asiaand a drop in the euro againstthe dollar.

The dollar rebounded againstthe Singapore dollar aftermatching a record low earlieron Friday. One Singapore-based analyst said there weremarket rumours on Friday thatSingapore's central bank hadintervened at levels around1.2160. -Reuters

Asian currencies

ease, S’pore dlr

off record high

NEW YORK: Cotton futuressettled lower Thursday oninvestor sales as the inability ofthe market to build on the gainsof the previous session promptedplayers to dump fiber contracts,analysts said.

The key December cottonfutures on ICE Futures US fell4.00 cents or by 3.69 percent tofinish at the session low of$1.0446 per lb, with the day's toptrade at $1.087. On Tuesday, thecontract ended at $1.0439 to markthe lowest close for the secondposition cotton contract sinceearly October 2010, ThomsonReuters data showed. Volumetraded was over 12,100 lots at1847 GMT, more than a thirdbelow the 30-day norm, ThomsonReuters preliminary data showed.Independent cotton analyst MikeStevens in Louisiana said the

market filled a gap left over fromTuesday in the December contractof $1.0888 to $1.0679 and thisshould have opened the door for atest of $1.11 to $1.13. "When ithad absolutely no follow throughto the upside today, technicaltraders quickly took that as a signthere was obviously more to thedownside despite the extremelyoversold readings of virtuallyevery technical indicator," hesaid. "It's a technical breakdown,a money flow." The market alsocame under pressure from theweekly export sales report of theUS Agriculture Departmentwhich showed cancellations of91,400 running bales (RBs, 500-lbs each). Open interest stood at137,983 lots as of July 13, ICEFutures US data showed. Volumetraded on Wednesday stood at16,453 lots, it added. -Reuters

NY cotton settles

lower on investor sales

Sterling risesto 1-mth

high vs euroLONDON: Sterling hit a one-month highagainst the euro onFriday as jitters ahead ofEuropean stress test resultsweighed on the single currency,but gains for the pound werelimited by a patchy growth out-look for UK.

A lack of UK data releases ornews flow kept investor focussquarely on the euro-zone andthe dollar. The results ofEurope-wide stress tests on 90banks are due at 1600 GMTand could force some banks toseek state aid.

The euro fell to 87.46 pencein early trade, its lowest sincemid-June, before recovering totrade flat at 87.59pence.Traders said corporate andleveraged demand for the eurohelped lift it back off the low.

Markets were abuzz withspeculation that more than 15of the90 banks would fail thestress tests, but no large bank isexpected to fall short and totalcapital needed could beunder10 billion euros.

Sterling has been on a weaktrend for some time and iscaught between a rock and ahard place, the euro-zone andthe US,which has dominatedsterling's direction." Technicalanalysts at Barclays said dailycharts showed that the euro wasoversold against sterling, point-ing towards abounce towards89.60-90.00.

On the downside, a breakbelow 87.40 pence would openthedoor for a test of the late Maylow around 86.10, althoughinterim support for the euro wasaround the June 16 low at87.21.

Cable was last down 0.3 per-cent at $1.6100, pulling awayfrom a three-week high of$1.6195 hit on Thursday. Thedollar gained on Friday on safe-haven flows and weaker thanexpected US data also keepingappetite for risk subdued.

Downside stop-losses werehit on the early break of$1.6090,traders said, thoughlosses were limited to $1.6077.The next key date for sterlingwill be next Wednesday whenthe Bank of England releasesminutes from its July policymeeting where interest rateswere left on hold at recordlows. -Reuters

Ratings agency Standard & Poor'shas warned there is a one-in-twochance it could cut the United

States' prized AAA credit rating if adeal on raising the government's debtceiling is not agreed soon.

Putting the US on negative watch,S&P warned that it could cut the ratingas soon as this month if talks betweenthe White House and Republicansremain stalemated. Any cut would beby one or more notches, it added.

The dollar fell on the news but USTreasuries were largely steady.

John Chambers, the chairman ofS&P's sovereign ratings committee,said "this is the time" for the two sidesto tackle the country's long-term debtproblems.

"If you get a small agreement thatwill lead to a downgrade," he toldReuters in an interview.

A downgrade could raise borrowingcosts not only for the United States butalso for loans that use the Treasury rateas a benchmark.

Some money managers that arerestricted to investing only in AAA-rated assets would be forced to dump

Treasuries, which could spread disrup-tion through global financial markets.

The S&P warning comes just a dayafter Moody's Investors Service warnedthe US may lose its top-notch credit rat-ing in the next few weeks if lawmakersfail to increase the country's legal bor-rowing limit of $14.3 trillion and thegovernment misses debt payments.

"Today's CreditWatch placement sig-nals our view that, owing to the dynam-ics of the political debate on the debtceiling, there is at least a one-in-twolikelihood that we could lower thelong-term rating on the US within thenext 90 days," the agency said in astatement.

"We have also placed our short-termrating on the US on CreditWatch nega-tive, reflecting our view that the currentsituation presents such significantuncertainty to the US' creditworthi-ness," S&P said.

"Further delays in raising the debtceiling could lead us to conclude that adefault is more possible than we previ-ously thought. If so, we could lower thelong-term rating on US governmentthis month," S&P said.

US Treasuries reaction was generallymuted, perhaps because Moody's hadalready raised the possibility of adowngrade. Dealers said the marketmight also be hoping that the pressurefrom the agencies would jolt US law-makers into reaching a deal.

As a result, Treasury prices dippedonly modestly, lifting 10-year yields to2.97 percent from 2.92 percent late inNew York on Thursday.

The dollar fell against the euro to asession low of $1.42 before pullingback a bit to $1.4180. Dealers said themarket was wary of buying the euroahead of the results of Europe-widestress tests on 90 banks due later Fridaywhich could force some to seek stateaid.

"Markets won't be able to shrug thisoff completely," said Adrian Foster,head of financial markets research forAsia Pacific at Rabobank Internationalin Hong Kong.

"But the United States is in a differentposition from other countries. This isnot some fiscal reform program thatthey have to put in place. This is justpolitical machinations.

"It has less of a market impact,because we're programmed to think thepolitical machine will come through atthe end of the day."

So protracted has been the wranglingover the budget that S&P warned thateven if there was a deal done on raisingthe ceiling, it might still cut the rating ifit was not convinced the agreementwent far enough to address medium-term debt strains.

"If an agreement is reached, but wedo not believe that it likely will stabi-lize the US' debt dynamics, we, againall other things unchanged, wouldexpect to lower the long-term 'AAA'rating, affirm the 'A-1+' short-term rat-ing, and assign a negative outlook onthe long-term rating," said S&P.

The S&P statement showed the needfor Congress to act to raise the debtlimit, Jeffrey Goldstein, the USTreasury's under secretary for domesticfinance, said in a statement.

"Congress must act expeditiously toavoid defaulting on the country's obli-gations and to enact a credible deficitreduction plan that commands biparti-san support," he said. -Reuters

Western and Arab powers in the Libya con-tact group are to recognize the rebel lead-ership as representing the Libyan people;

Italy said on Friday, giving a boost to the rebels astheir military campaign falters.

The decision at a meeting in Istanbul of more than30 countries and international bodies meant Libyanleader Muammar Gaddafi had no option but to standdown, Italian Foreign Minister Franco Frattini said.

The UN Secretary General's special envoy toLibya, Abdul Elah Al-Khatib, will be authorized topresent terms for Gaddafi to leave power, but theBritish foreign minister said military action againstGaddafi would be stepped up at the same time.

The political package to be offered Gaddafi willinclude a ceasefire to halt fighting in the five-month-old war.

There have been reports that Gaddafi is quietlyexploring a diplomatic solution under which hewould end his 41-year rule, but in public the Libyanleader has remained defiant.

"Today, we will see the final document where thecontact group recognizes TNC (the rebelTransitional National Council) as the interlocutorrepresenting Libyan people. So (there is) no otheroption but for Gaddafi to leave," Frattini said.

British Foreign Secretary William Hague toldReuters that at the same time as al-Khatib pursues apolitical settlement, "the military pressure on theregime will continue to intensify."

The Libya contact group, established in London inMarch, is trying, at its fourth meeting, to find a polit-ical solution that would persuade Gaddafi to quit.

Turkish Foreign Minister Ahmet Davutoglu saidhe hoped a political solution could emerge by thestart of the Muslim holy month of Ramadan, whichbegins at the start of August.

"There has been progressive improvement of thesituation on the ground," he said. "What we need todo now is consolidate our achievements and moveinto the phase of conflict resolution."

The rebels urgently need cash and contact group

members should consider opening credit lines to therebel Transitional National Council (TNC) inBenghazi, he said.

He also backed a rebel proposal for the release of$3 billion of frozen Libyan assets to alleviate a"grave" humanitarian situation during Ramadan inareas of Libya controlled by the rebels and byGaddafi.

US Secretary of State Hillary Clinton andEuropean Union foreign policy chief CatherineAshton were attending the Istanbul talks.

China and Russia, which have taken a softer linetoward Gaddafi, were invited to the contact groupmeeting for the first time, but decided not to becomeinvolved.

Speaking in The Hague on Thursday, Nato chiefAnders Fogh Rasmussen called on alliance membersto provide more warplanes to bomb increasingly elu-sive Libyan military targets.

Britain said it was sending four more Tornadoreconnaissance planes to beef up the Nato mission.Such aircraft have become vital as Gaddafi's forceshave hidden their armor and artillery from Nato war-planes.

Britain said its warplanes had on Thursdaydestroyed a Libyan army armored personnel carriernear Zlitan, west of the rebel stronghold of Misrata.

British aircraft had so far damaged or destroyedmore than 500 Libyan military targets includingcommand and control sites.

"But as the campaign has progressed, the regime isincreasingly attempting to conceal troops, equip-ment and headquarters, often in populated areas," aBritish military spokesman, General Nick Pope,said.

On the ground, rebel commanders in the village ofAl-Qawalish, about 100 km (60 miles) west ofTripoli, said they were massing their forces for anadvance east toward the town of Garyan, which con-trols access to the main highway to the capital.

But on Wednesday, the handful of rebels defendingAl-Qawalish ran out of ammunition and fled when

Gaddafi's forces staged a surprise attack. The rebelstook back the village before nightfall, but the back-and-forth fighting showed how the rebels are strug-gling to make gains on the ground.

UNCERTAIN INTENTIONS

It is not clear whether Gaddafi intends to fight onin the hope of keeping his grip on the territory roundTripoli or seek an exit strategy that guarantees secu-rity for himself and his family, but he is not seenhaving any future role in Libya.

"Countries are starting to look past Gaddafi. He'sgoing to go, and the meeting can be a useful place totake stock of and prepare for that transition," onesenior US official told reporters aboard Clinton'splane before landing in Istanbul.

"That's the way we're thinking about this meeting:trying to see it as a pivot in this process."

Earlier this week, French Foreign Minister AlainJuppe said emissaries from Gaddafi's government incontact with Nato members had said that Gaddafiwas ready to quit, but US officials were uncon-vinced.

"There are a lot of straws in the wind," a secondUS official said. "We are not persuaded yet that anyof this is decisive in terms of the red lines that wehave laid out."

Gaddafi himself, in his latest speech on Libyan tel-evision on Thursday evening, said he was stayingput. "I will fight until the end," he said. "The end ofNato will be in Libya."

The international community has told Gaddafi hemust cease violence against his people, withdraw hisforces and step down.

Any solution could hinge on whether Gaddafi,after stepping down, is allowed to stay in Libya ortake refuge in a third country, regardless of anInternational Criminal Court's investigation intocrimes against his people.

The rebel leadership has not held direct negoti-ations with Gaddafi's side, according toMahmoud Jebril, a senior member of the rebelcouncil. -Reuters

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Troubled

sea watersSome of the experts have been highlighting rising

interest of various groups having vested interest in

Indian Ocean. On one hand has been the Somali

pirates and on the other hand various countries ie

India and the US in particular trying to get control

over centuries old navigation route. There has also

been an upsurge in confrontation at sea in Asia in

recent years, with clashes increasing in both fre-

quency and intensity and the stakes certainly get-

ting higher.

Nationalism and resource needs, meanwhile, are

reinforcing the value of territorial claims in the

East and South China seas, making maritime sover-

eignty disputes harder to manage. Expanding naval

and air power meant Asia was becoming a danger

zone for close-range encounters between compet-

ing powers, typically in sensitive or contested

areas. While the chance that such incidents will

lead to major military clashes can't be undermined.

Confrontation among China, the United States,

Japan and India are likely to persist and intensify.

In March 2009 confrontation between Chinese

ships and the US Naval ship impeccable in the

South China Sea off Hainan Island is cited as typi-

cal of East Asia's modern maritime security envi-

ronment. Suspecting the impeccable of gathering

intelligence on Chinese submarines, the US ship

was trailed until it left the area.

The South China Sea is now looked upon as

another strategic flashpoint in East Asia. China's

relations with Washington were further damaged

by Beijing designating its territorial claims in the

South China Sea a core defence interest which

could require the use of force. An escalation in the

number and tempo of confrontations is likely to

increase the chances of an armed stand-off, diplo-

matic crisis or even conflict, leading to deteriora-

tion of security relations among major powers.

Though currently concentrated in East Asia the

risk of major-power conflict could spread across

the entire Indo-Pacific, with competition between

China and India at sea only a matter of time. It may

be said that India is flexing its muscles on the

behest of United States which is already projecting

India a regional super power. Based on American

support India has already started demanding a per-

manent seat in UN Security Council.

Release of Pakistani and other nationals by the

Somali pirates after nearly eleven months, attack

on Naval base in Karachi and two surveillance aero

planes is also being termed part of the ongoing

game. Since bulk of the Middle Eastern oil moves

through Indian Ocean there has been a deliberate

attempt to deter all those attempts which can not

only detect some undesirable moves but also take

immediate remedial steps.

Pakistan has over 1,200 kilometer long coastal

line exposing the troubled Balochistan to those

who are keen to use the area for attacking both

Pakistan and Iran. Jindullah, after having estab-

lished its base in Balochistan has been attacking

strategic installations both in Pakistan and Iran.

4Saturday, July 16, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat SabirHead office

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

URL: www.thefinancialdaily.comEmail Address: [email protected]

Lahore office

24- Peshawar Block, Fortress Stadium, Lahore

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

Email Address: [email protected]

The Financial Daily InternationalVol 4, Issue 253

West, Arab powers to recognise Libya rebels

S&P warns of downgrade if US strikes no debt deal

Thousands of Egyptians packedCairo's Tahrir Square on Friday,keeping up pressure on the ruling

generals to implement reforms moreswiftly and to try ousted PresidentHosni Mubarak and his aides.

But the Muslim Brotherhood, Egypt'smost organized group, said it was notparticipating and said the authoritiesmust have time to respond to demandsfirst made at a mass rally last week.

The split partly reflects caution in theBrotherhood, banned under oustedPresident Hosni Mubarak, about rilingthe army under which it now hasunprecedented freedom.

It also indicates the gap between theBrotherhood's cautious approach and anew generation of activists, who areless well established but determined tokeep pressure, analysts said.

"The youth reject the language ofthreats used by the Supreme Council(for the Armed Forces), and reject thatthis is the way for dialogue," saidMohamed Adel of the April 6 move-ment, which had called for a big turnouton Friday.

Activists, some of whom havecamped in the square for a week, wereangered by the tone of an army state-ment this week that suggested protests

were threatening public order.At a news conference, generals

defended the use of military courts say-ing they had not been used to stifleopinion but only against serious crimes.The army also said it would use alllegal means to end the protest withoutresorting to violence.

But there has been no sign of anyaction to stop the protest in Cairo or inother cities where demonstrators haverallied.

Thousands defied the scorching sunas they lined up in Cairo's TahrirSquare, Alexandria and Suez for noonprayers. Numbers tend to climb afterprayers, when the summer heat cools inthe afternoon and evening.

"Down, down with the rule of themilitary," one group chanted in Tahrir.

Others demanded swift trials forpolicemen who killed demonstrators. Apreacher, Muzhar Shaheen, said thedemonstrators would not leave until alldemands were met.

Osama El Ghazali Harb, a founder ofthe Democratic Front Party, saidEgyptians wanted to see change on theground.

"The Egyptian people feel that thedemands that drove them to the streetshave not been achieved," he said, sit-

ting under a white canopy in the centerof the square.

FIRING OFFICIALSThe army has also said it backs the

prime minister, Essam Sharaf, who isworking on a cabinet reshuffle. Otherconcessions include a shakeup of hun-dreds of senior officers in the police, aforce scorned for violent tactics usedunder Mubarak.

"Purging all state institutions and par-ticularly the judiciary," is one of thedemands listed by April 6.

The movement has named officialsstill in place that it wants fired. It hasalso demanded that military courts,long used by Mubarak, should not beused for civilians.

Among the demonstrators isMuhammed Fawzy, who said he begana hunger strike in Tahrir on July 10 andonly drinks water. He wants a dialoguewith the army about his demands, suchas setting up an independent committeeto draw up a constitution.

The Brotherhood said it would stayaway. The group is widely seen to havebenefited most from the army's poli-cies, such as the military's drive for aswift election, although voting has beenpushed back to November fromSeptember. "We will not participate

today. That does not mean that we areagainst demonstrating or against con-tinuing the revolution strongly. But we... participated last Friday in big num-bers and with specific demands and wesay we must give a chance in each peri-od for our demands to be met,"Mohamed Morsy, head of theBrotherhood's political Freedom andJustice party, told Reuters.

"If they are not met enough we willreturn again to the square, and not justthere, but to all squares," he said.

The Brotherhood, though bannedunder Mubarak, was given enoughroom to build a broad network of sup-port through social and charity work. Italso ran candidates as independents inparliament elections, winning 20 per-cent of seats in 2005.

Hassan Nafaa, a political scientist andactivist, said the Brotherhood might bewary of antagonizing the military coun-cil when the group now has more free-dom to act than any time before.

Nafaa said the army may had tendedto side with Islamists believing it wasthe best way to control the streets,adding: "The military council shouldunderstand now that the MuslimBrotherhood and Islamist trend is notthe whole scene." -Reuters

Egyptians say army not doing enough

Saturday, July 16, 2011 5Volume 69,234,426

Value 3,593,580,256

Trades 47,807

Advanced 127

Decline 114

Unchanged 100

Total 341

Current 8,563.75

High 8,610.50

Low 8,513.34

Change h50.41

Current 12,346.52

High 12,414.29

Low 12,267.33

Change h79.19

Current 11,792.91

High 11,857.43

Low 11,679.68

Change h113.23

Market KSE 100 Index All Share Index KSE 30 Index

Current 21,563.27

High 21,636.72

Low 21,298.43

Change h264.84

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Pace (Pakistan) Limited

PACE closed down -0.05 at 2.06. Volume was 46 per cent above

Bollinger Bands were 54 per cent narrower than normal. . The compa-

ny's loss after taxation stood at Rs939.425 million which translates into

a Loss Per Share of Rs3.37 for the nine months of fiscal year

(9MFY11).

PACE is currently 28.1 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 PACE (mildly bear-

ish). Trend forecasting oscillators are currently bearish on PACE.

RSI (14-day) 31.66 Total Assets (Rs in mn) 10,559.36

MA (10-day) 2.17 Total Equity (Rs in mn) 6,486.15

MA (100-day) 2.82 Revenue (Rs in mn) 1,649.34

MA (200-day) 2.87 Interest Expense 211.21

1st Support 1.97 Profit after Taxation 633.16

2nd Support 1.87 EPS 10 (Rs) 2.270

1st Resistance 2.20 Book value / share (Rs) 23.26

2nd Resistance 2.33 PE 11 E (x) -

Pivot 2.10 PBV (x) 0.09


As on Jun 30, 2010

SNGP closed up 0.26 at 20.00. Volume was 61 per cent above

Bollinger Bands were 50 per cent narrower than normal. The com-

pany's profit after taxation stood at Rs415.224 million which trans-

lates into an Earning Per Share of Rs0.76 for the nine months of fis-

cal year (9MFY11).

SNGP is currently 17.4 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 SNGP at a

relatively equal pace. Trend forecasting oscillators are currently

bearish on SNGP.




MA (200-day) 24.22 Interest Expense 4,650.15

1st Support 20.00 Profit after Taxation 2,554.56

2nd Support 19.93 EPS 10 (Rs) 4.652


2nd Resistance 20.17 PE 11 E (x) 19.74

Pivot 20.05 PBV (x) 0.59

Sui Northern Gas Pipelines Ltd


As on Dec 31, 2009

JSBL closed down -0.05 at 2.20. Volume was 7 per cent below

Bollinger Bands were 28 per cent narrower than normal. The com-

pany's profit after taxation stood at Rs10.254 million which trans-

lates into an Earning Per Share of Rs0.0126 for the 1st quarter of

current calendar year (1QCY11).

JSBL is currently 15.1 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 JSBL

(mildly bearish). Trend forecasting oscillators are currently bearish

on JSBL.




MA (200-day) 2.59 Interest Expense 1,806.71

1st Support 2.16 Loss after Taxation (594.94)

2nd Support 2.11 EPS 09 (Rs) (0.98)


2nd Resistance 2.39 PE 10 E (x) 43.65

Pivot 2.25 PBV (x) 0.24

JS Bank Limited


As on Dec 31, 2009

WTL closed down -0.03 at 1.90. Volume was 8 per cent below

Bollinger Bands were 31 per cent narrower than normal. . The com-

pany's loss after taxation stood at Rs182.323 million which trans-

lates into a Loss Per Share of Rs0.21 for the 1st quarter of current

calendar year (1QCY11).

WTL is currently 23.6 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 volume flowing into and out of WTL at a relatively equal pace.

Trend forecasting oscillators are currently bearish on WTL.




MA (200-day) 2.49 Interest Expense 523.03

1st Support 1.90 Loss after Taxation (490.82)

2nd Support 1.83 EPS 09 (Rs) (0.57)


2nd Resistance 2.07 PE 10 E (x) -

Pivot 1.95 PBV (x) 0.14

WorldCall Telecom Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,540.92 1,566.62 1,541.11 1,554.66 13.74 0.89

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

4,635,662 12 - 65,194.15 mn 1,131,384.25 mn 1,554.66

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

10.57 3.44 32.54 55.94 5.29 1,540.92

Attock Petroleum 691 6.86 377.72 381.00 377.75 379.63 1.91 80764 394.90 369.10 300 20B115.00 -

Attock Refinery 853 4.22 126.79 130.33 127.49 128.79 2.00 1529431 143.50 120.40 - - - -

BYCO Petroleum 3921 - 9.27 9.50 9.21 9.24 -0.03 1105780 10.10 7.93 - - - -

Mari Gas Company 735 4.35 104.55 106.90 105.33 106.46 1.91 34214 113.75 98.50 31 - 23.43 -

National Refinery 800 5.27 372.59 386.35 373.80 381.75 9.16 657571 387.35 323.50 200 - - -

Oil & Gas Development 43009 10.20 150.21 152.00 149.50 150.73 0.52 53499 157.51 137.91 55 - 30.00 -

Pak Petroleum 11950 7.66 207.55 210.98 208.00 209.41 1.86 507151 219.70 202.50 90 20B100.00 -

Pak Oilfields 2365 8.39 373.21 381.45 375.10 380.37 7.16 1576321 381.45 321.10 255 -100.00 -

Pak Refinery Limited 350 44.68 78.58 80.88 79.00 79.98 1.40 11229 89.25 77.50 - - - -

P.S.O 1715 3.76 261.49 266.00 262.65 263.02 1.53 180398 291.50 261.00 80 - 80.00 -

Burshane LPG 226 - 23.35 24.50 23.01 24.02 0.67 2198 28.29 22.11 - - - -

Shell Pakistan 685 7.91 221.50 226.90 222.03 222.43 0.93 5084 233.00 207.50 120 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index


964.72 976.57 964.16 963.72 -1.01 -0.10


3,178,602 211 73 47,070.70 mn 122,701.93 mn 966.25


6.25 0.54 8.64 16.68 2.67 963.72

Ali Asghar Textile 222 - 0.61 0.80 0.70 0.75 0.14 1501 1.55 0.61 - - - -

Amtex Limited 2594 - 2.70 2.76 2.61 2.67 -0.03 105994 3.76 1.81 - 30B - -

Artistic Denim 840 8.32 27.03 26.95 25.80 26.30 -0.73 900 27.10 20.60 20 - - -

Azam Textile 133 0.35 2.12 2.45 1.90 1.96 -0.16 593 2.99 1.90 7.5 - - -

Azgard Nine 4493 - 5.91 6.10 5.84 5.86 -0.05 2146343 7.09 4.40 - - - -

Babri Cotton 37 0.27 15.40 16.35 16.00 16.18 0.78 2000 17.99 14.30 - 15B - -

Bannu Woolen XD 76 0.64 15.81 15.37 15.30 15.37 -0.44 502 20.99 14.70 20 - - -

Bata (Pak) 76 7.66 650.18 682.68 650.00 650.89 0.71 208 682.68 411.00 280 - - -

Blessed Tex Mills 64 0.86 89.30 93.75 84.84 90.00 0.70 3708 93.75 56.07 50 - - -

Chakwal Spinning 400 0.98 2.42 3.00 1.50 2.42 0.00 402 3.00 0.76 5 - - -

Chenab Limited 1150 - 2.00 2.00 1.93 2.00 0.00 419 2.70 1.65 - - - -

Colony Mills Ltd 2442 1.59 1.50 1.64 1.53 1.53 0.03 2235 2.64 1.32 - - - -

Crescent Textile 492 3.99 15.00 15.75 14.50 14.85 -0.15 4300 16.87 12.50 15 - - -

D S Ind Ltd 600 - 0.95 1.08 0.92 1.06 0.11 43181 1.39 0.90 - - - -

Dawood Lawrencepur 591 - 31.47 31.01 31.00 31.00 -0.47 1010 38.95 30.50 5 15B - -

Din Textile 204 0.76 36.86 38.70 35.02 38.22 1.36 2308 38.70 26.35 20 10B - -

Ellcot Spinning 110 0.56 24.00 23.75 23.75 23.75 -0.25 907 28.74 23.50 35 - - -

Fazal Textile 62 3.13 310.00 325.50 325.50 325.50 15.50 200 337.99 274.60 100 - - -

Gadoon Textile XD 234 0.68 68.16 69.90 69.90 69.90 1.74 999 91.47 65.01 70 - - -

Ghazi Fabrics 326 0.38 4.33 4.20 4.00 3.70 -0.63 1507 8.00 4.00 10 - - -

Gulistan Spinning 146 0.43 8.25 8.00 7.99 7.99 -0.26 1010 9.00 6.30 10 - - -

Gulistan Textile 190 0.59 18.60 19.60 19.00 18.60 0.00 154 21.00 18.01 10 - - -

Gulshan Spinning 222 0.45 11.35 11.48 10.62 10.80 -0.55 1963 12.16 9.52 10 20B - -

Hajra Textile 138 - 0.50 1.49 0.41 0.50 0.00 312 1.49 0.05 - - - -

Hira Textile Mills Ltd. 716 0.75 3.70 4.20 3.75 3.75 0.05 57840 4.90 3.60 10 - - -

Ibrahim Fibres 3105 2.85 39.88 39.80 39.00 39.88 0.00 361 49.92 38.38 20 - - -

Ideal Spinning 99 0.36 4.88 4.25 4.25 4.88 0.00 300 9.00 3.50 - - - -

Idrees Textile 180 1.86 4.85 5.74 4.75 4.85 0.00 15000 5.74 3.80 10 - - -

Indus Dyeing 181 3.16 346.95 331.19 331.00 331.05-15.90 150 398.00 276.70 50 - 50.00 -

Ishaq Textile 97 0.48 6.00 6.00 5.99 6.00 0.00 250 8.24 5.25 8 - - -

J K Spinning 184 0.91 8.35 7.46 7.46 8.35 0.00 101 9.35 5.05 20 5B 10.00 -

Janana D Mal 48 0.40 13.00 13.95 12.20 13.93 0.93 904 17.80 12.15 - - - -

Khalid Siraj 107 0.41 1.50 1.50 1.33 1.50 0.00 9000 2.24 1.00 - - - -

Kohinoor Ind 303 - 1.22 1.20 1.20 1.20 -0.02 500 1.75 0.75 - - - -

Kohinoor Textile 2455 3.59 3.20 3.34 3.11 3.12 -0.08 19451 5.25 3.11 - - - -

Mohd Farooq 189 - 0.80 0.99 0.60 0.80 0.00 326 1.20 0.23 - - - -

Mukhtar Textile 145 - 0.44 0.50 0.40 0.40 -0.04 5156 1.39 0.16 - - - -

Nagina Cotton 187 0.63 15.50 15.50 15.50 15.50 0.00 1750 17.95 14.10 20SD - - -

Nishat (Chunian) 1621 3.38 22.27 22.58 21.75 21.95 -0.32 237502 29.35 21.75 15 - - -

Nishat Mills 3516 4.56 50.94 51.75 51.10 51.37 0.43 355057 66.00 49.80 25 45R - -

Olympia Textile 108 - 0.79 0.62 0.61 0.62 -0.17 500 1.98 0.30 - - - -

Paramount Spinning 174 0.65 14.00 13.94 13.00 13.10 -0.90 1510 14.53 12.00 10 10B - -

Ravi Textile 250 - 0.99 1.00 0.80 0.96 -0.03 53770 1.30 0.53 - - - -

Reliance Weaving 308 0.58 11.05 11.22 11.10 11.20 0.15 2726 14.00 10.70 25SD - - -

Saif Textile 264 0.28 8.00 8.00 8.00 8.00 0.00 500 11.40 7.00 - - - -

Sally Textile 88 0.25 7.22 8.09 6.50 6.50 -0.72 36324 9.35 6.00 10 - - -

Salman Noman 42 0.43 2.25 2.10 2.10 2.10 -0.15 910 3.75 2.10 - 5B - -

Sana Ind 55 3.04 40.00 40.89 39.61 40.08 0.08 2083 41.85 36.50 60 - - -

Sargoda Spinning 312 1.18 2.90 3.75 2.75 2.84 -0.06 10320 4.95 2.51 5 - - -

Service Ind 120 3.21 190.00 194.75 188.00 188.01 -1.99 2747 198.90 160.00 75 - - -

Service Textile 44 0.23 0.51 0.89 0.85 0.89 0.38 1000 0.89 0.25 - - - -

Suraj Cotton 180 0.69 35.92 37.00 36.70 35.92 0.00 300 42.00 35.11 50 - - -

Thal Ltd 307 - 99.93 101.99 100.00 101.32 1.39 14308 108.50 97.00 80 20B - -

Treet Corp 418 6.74 53.51 54.24 53.50 53.94 0.43 23607 59.20 47.95 50 900B - -

Tri-Star Poly 215 - 0.60 0.52 0.52 0.60 0.00 151 1.58 0.23 - - - -

Zil Limited 53 6.30 57.01 59.85 56.00 58.16 1.15 1012 67.20 55.00 35 - - -



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

HOUSEHOLD GOODS

Performance of SR Household Goods Index


650.51 672.63 648.22 653.65 3.14 0.48


52,880 15 7 3,763.71 mn 4,391.98 mn 663.25


1.25 0.13 10.64 6.27 5.02 648.83

Hussain Industries 106 - 2.82 3.25 2.75 3.05 0.23 1722 5.87 1.82 - - - -

Pak Elektron 1219 - 6.70 6.98 6.50 6.60 -0.10 24852 10.80 6.50 - 10B - -

Singer Pak 375 113.23 13.72 14.72 14.72 14.72 1.00 1000 20.76 13.10 - 10B - -

Tariq Glass Ind 693 1.50 11.50 11.50 11.34 11.34 -0.16 25306 14.00 11.20 17.5 - - 200R



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

FOOD PRODUCERS

Performance of SR Food Producers Index


2,389.10 2,414.69 2,355.56 2,387.38 -1.72 -0.07


80,298 61 16 11,335.33 mn 346,554.27 mn 2,389.10


59.08 17.90 30.30 30.57 0.52 2,264.24

Abdullah Shah Ghazi Sugar 793 2.07 5.00 5.10 4.00 5.00 0.00 120 6.90 4.00 - - - -

AL-Noor Sugar 186 2.29 39.91 39.99 37.92 39.99 0.08 501 54.20 37.65 50 - - -

Ansari Sugar 244 - 6.21 5.24 5.24 5.24 -0.97 500 10.85 5.24 - - - -

Bawany Sugar 87 - 8.15 8.97 8.90 8.94 0.79 720 9.25 7.25 - - - -

Chashma Sugar 287 0.69 10.00 9.90 9.90 9.90 -0.10 4000 10.90 8.00 10 - - -

Faran Sugar 217 1.34 18.50 19.00 18.50 18.50 0.00 195 19.50 17.50 25 - - -

Habib Sugar 750 4.63 25.83 26.25 26.00 26.02 0.19 19978 28.00 23.00 25 25B - -

Habib-ADM Ltd 200 5.18 12.85 13.47 12.85 12.85 0.00 265 13.74 12.00 40 - - -

Haseeb Waqas 324 - 9.71 9.90 8.75 8.75 -0.96 14500 13.00 8.75 10 - - -

Hussein Sugar 121 0.63 10.67 10.50 10.50 10.67 0.00 300 12.56 8.50 - - -40.49R

J D W Sugar 539 1.59 79.00 80.50 79.05 80.05 1.05 5024 84.30 72.75 7010B 12.5R - 10R

Mehran Sugar 173 1.69 55.69 57.00 54.60 55.69 0.00 109 68.48 52.11 35 20B 15.00 10B

Mirpurkhas Sugar 84 3.19 49.50 47.25 47.25 49.50 0.00 174 53.00 39.51 15 20B - -

Mirza Sugar 141 0.30 2.62 2.80 2.65 2.79 0.17 22302 3.50 2.35 10 - - -

National Foods 414 12.63 76.69 76.00 73.11 73.11 -3.58 426 88.00 60.64 12 - - -

Nestle Pakistan 453 33.37 4320.01 4400.00 4253.00 4395.80 75.79 377 5675.00 3299.00 750 - - -

Pangrio Sugar 109 - 3.55 3.67 3.66 3.67 0.12 565 4.52 3.15 10 - - -

S S Oil 57 0.32 4.48 4.50 4.45 4.45 -0.03 3500 6.45 3.80 - - - -

Sakrand Sugar 223 22.73 2.50 2.51 2.50 2.50 0.00 4000 3.40 1.75 - - - -

Shahmurad Sugar 211 1.18 10.04 9.75 9.75 10.04 0.00 200 10.79 7.91 10 - - -

Shakarganj Mills 695 1.19 5.90 5.60 5.60 5.90 0.00 400 6.99 5.05 - - - -

Sind Abadgar 104 1.72 7.00 7.50 7.50 7.00 0.00 200 8.00 7.00 10 - - -

Tandlianwala 1177 14.69 52.50 52.00 50.60 52.00 -0.50 1800 60.30 47.09 - - - -

UniLever Pakistan 665 21.96 5998.67 6045.00 5909.09 5938.48 -60.19 117 6108.08 4915.70 492 - - -



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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index


1,103.05 1,115.90 1,094.95 1,100.96 -2.09 -0.19


215,541 19 4 6,768.53 mn 40,603.58 mn 1,132.86


3.73 0.95 25.35 20.42 5.48 1,100.96

Agriautos Ind 144 4.29 69.62 69.99 69.11 69.63 0.01 690 74.85 68.00 90 - - -

Atlas Battery 101 6.03 222.36 228.00 223.00 227.13 4.77 14217 235.89 206.00 100 20B - -

Atlas Honda 719 7.55 120.94 123.00 120.00 121.04 0.10 5297 160.00 112.10 50 15B 65.00 15B

Baluchistan Wheels Ltd. 133 1.37 29.45 29.00 28.29 29.45 0.00 371 36.34 28.29 25 - - -

Dewan Motors 1087 - 2.87 3.05 2.91 2.98 0.11 127695 3.46 1.50 - - - -

Exide (PAK)XDXB 71 3.57 176.15 184.00 170.10 174.57 -1.58 4154 235.00 170.10 60 - 60.00 25B

General Tyre 598 4.28 22.47 22.95 22.45 22.47 0.00 201 26.17 22.01 20 - - -

Honda Atlas Cars 1428 - 10.40 10.40 10.00 10.10 -0.30 7200 11.58 9.00 - - - -

Indus Motors 786 7.07 206.28 206.45 204.40 204.74 -1.54 630 232.53 201.00 150 - 50.00 -

Pak Suzuki 823 14.24 63.21 65.00 63.20 63.22 0.01 42052 72.50 61.35 5 - - -

Sazgar Engineering 150 1.21 23.75 24.90 24.00 24.73 0.98 13032 25.50 22.01 10 20B 10.00 -



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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index


1,799.88 1,829.49 1,797.58 1,803.25 3.37 0.19


96,934 11 1 1,336.62 mn 35,586.16 mn 1,809.21


8.58 3.26 38.02 131.49 15.32 1,799.88

AL-Ghazi Tractor 215 4.02 222.08 233.18 228.00 232.94 10.86 11409 239.00 208.51 400 - - -

Bolan Casting 104 4.96 49.87 50.25 49.51 50.23 0.36 3100 50.45 44.00 25 10B - -

Dewan Auto Engineering 214 - 1.30 1.47 1.14 1.30 0.00 120 2.15 0.71 - - - -

Ghandhara Ind 213 9.52 8.00 8.00 8.00 8.00 0.00 7000 9.90 7.60 - - - -

KSB Pumps 132 - 32.22 33.83 33.49 32.22 0.00 101 47.80 30.50 12.5 - - -

Millat Tractors 366 9.37 617.00 625.80 615.50 616.88 -0.12 74833 625.80 510.00 650 25B325.00 -

Pak Engineering 57 - 64.05 67.25 62.00 64.05 0.00 360 107.70 62.00 100 - - -



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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index


978.21 984.57 971.71 977.63 -0.58 -0.06


95,473 13 2 3,043.31 mn 36,474.98 mn 978.43


1.43 0.63 43.91 15.55 10.88 972.37

Cherat Papersack 172 2.32 47.08 48.25 47.10 47.30 0.22 7163 56.60 46.02 20 25B - 50R

ECOPACK Ltd 230 - 1.44 1.65 1.35 1.39 -0.05 66138 1.90 1.10 - - - -

MACPAC Films 389 2.20 10.85 11.50 11.00 11.00 0.15 9812 15.21 9.78 - - - -

Merit Pack 47 11.32 26.00 26.89 25.25 25.25 -0.75 2010 31.95 24.10 - - - -

Packages Ltd 844 17.50 104.75 106.00 103.10 105.00 0.25 7242 118.00 103.00 32.5 - - -

Tri-Pack Films 300 6.81 176.05 177.00 174.30 174.53 -1.52 3108 181.99 154.90 100 - - -



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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index


858.95 876.87 856.08 859.19 0.24 0.03


1,255,481 37 6 54,792.74 mn 63,746.36 mn 869.68


5.88 0.42 7.10 19.04 3.24 858.95

Al-Abbas Cement 3657 - 2.50 2.60 2.45 2.45 -0.05 10000 3.25 2.40 - 100R - -

Attock Cement 866 6.17 49.40 49.01 48.75 48.76 -0.64 3510 56.01 48.03 50 - - -

Balochistan Glass Ltd 858 - 2.00 2.00 1.61 1.91 -0.09 775 2.90 1.51 - - - -

Berger Paints 182 - 13.69 14.24 13.70 13.70 0.01 941 16.50 13.27 - 122R - -

Cherat Cement 956 42.62 9.00 9.15 8.76 8.95 -0.05 3564 11.60 8.50 - - - -

Dadabhoy Cement 982 15.15 1.66 2.24 1.52 1.97 0.31 4003 2.24 1.52 - - - -

Dewan Cement 3891 - 1.66 1.65 1.60 1.63 -0.03 38000 2.67 1.36 - - - -

DG Khan Cement Ltd 4381 30.31 22.69 23.10 22.66 22.73 0.04 649125 25.85 21.31 - 20R - 20R

EMCO Ind 350 - 1.61 2.59 1.72 1.61 0.00 105 2.59 1.60 - - - -

Fauji Cement 6933 7.02 4.10 4.29 4.06 4.07 -0.03 72032 5.04 3.99 - - - 92R

Fecto Cement 502 4.05 5.30 4.99 4.70 4.70 -0.60 701 8.50 4.70 - - - -

Flying Cement Ltd 1760 - 1.24 1.33 1.22 1.26 0.02 9526 1.95 1.20 - - - -

Gharibwal Cement 4003 - 6.18 6.21 6.00 6.04 -0.14 500 13.50 4.25 - - - -

Haydery Const 32 - 0.42 0.78 0.59 0.42 0.00 219 0.83 0.21 - - - -

Kohat Cement 1288 - 6.00 6.05 6.05 6.00 0.00 333 7.60 5.85 - - - -

Lafarge Pakistan Cmt. 13126 67.00 2.70 2.80 2.65 2.68 -0.02 239439 3.35 2.10 - - - -

Lucky Cement 3234 5.84 71.33 72.29 71.51 71.87 0.54 142700 77.43 66.93 40 - - -

Maple Leaf Cement 5267 - 2.08 2.12 2.06 2.08 0.00 70268 3.05 1.97 - - - -

Shabbir Tiles 721 - 7.09 7.45 6.11 6.66 -0.43 8175 7.49 5.25 - - - 100R

Thatta Cement 798 - 17.51 16.90 16.51 16.53 -0.98 1556 20.90 16.01 - 50R - -



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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index


1,035.94 1,054.79 1,023.07 1,032.08 -3.87 -0.37


128,343 7 1 3,596.11 mn 15,525.96 mn 1,040.63


3.12 1.03 33.10 30.91 9.90 1,026.64

Crescent Steel 565 1.82 27.30 27.50 26.91 26.91 -0.39 15712 29.75 25.70 30 - 20.00 -

Dost Steels Ltd 675 - 2.42 2.70 2.50 2.69 0.27 59140 3.10 1.62 - - - -

Huffaz Pipe XD 555 22.98 12.76 12.93 12.11 12.87 0.11 1496 13.00 11.05 - 25B 15.00 -

Inter.Steel Ltd. 4350 - 13.85 13.89 13.65 13.85 0.00 25202 15.06 0.00 - - - -

International Ind 1199 9.07 50.88 51.15 50.40 50.70 -0.18 51989 52.99 48.52 40 20B 15 -



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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index


1,072.88 1,080.23 1,060.42 1,069.57 -3.32 -0.31


43,968 4 1 1,186.83 mn 2,951.56 mn 1,072.88


5.42 0.40 7.47 25.28 4.67 1,067.53

Century Paper 707 - 15.10 15.05 14.95 15.00 -0.10 28245 18.00 14.31 - - - -

Pak Paper Product 50 1.85 43.74 44.50 43.00 43.48 -0.26 2529 44.50 39.36 2533.33B - -

Security Paper 411 7.17 40.51 41.00 40.02 40.49 -0.02 13194 42.80 37.00 50 - - -



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

CHEMICALS

Performance of SR Chemicals Index


1,867.21 1,931.17 1,859.04 1,898.47 31.26 1.67


22,162,105 36 6 52,251.88 mn 387,867.18 mn 1,898.47


8.84 3.09 35.00 48.81 5.52 1,839.77

Bawany Air 75 4.17 7.49 8.48 7.60 8.29 0.80 1400 9.45 6.11 5 10R - -

BOC (Pak) 250 7.53 99.99 100.00 100.00 100.00 0.01 1000 101.75 90.50 60 - - -

Clariant Pak 341 4.88 159.90 160.00 159.50 159.96 0.06 5071 167.00 143.00 135 25B - -

Dawood Hercules 4813 3.49 60.88 61.80 59.65 60.15 -0.73 95878 66.00 56.10 50 300B - -

Descon Chemical 1996 - 2.04 2.25 2.03 2.03 -0.01 27514 2.79 1.83 - - - -

Descon Oxychem Ltd. 1020 9.38 6.31 6.44 6.30 6.38 0.07 135944 8.59 5.60 - - - -

Dewan Salman 3663 - 2.60 2.70 2.57 2.59 -0.01 348567 3.65 2.11 - - - -

Engro Corporation Ltd 3933 6.77 155.94 158.15 150.10 151.42 -4.52 2439328 200.50 150.10 60 20B - -

Engro Polymer 6635 - 10.10 10.30 9.85 9.90 -0.20 225781 12.83 9.85 - 27.5R - -

Fatima Fertilizer 22000 - 15.72 16.62 15.80 16.41 0.69 3298294 17.05 12.10 - - - -

Fauji Fertilizer 8482 10.08 157.70 165.15 159.00 163.83 6.13 4822240 165.15 137.51 130 25B 45.00 -

Fauji Fert.Bin Qasim 9341 7.04 45.59 47.42 45.95 47.01 1.42 8892367 47.42 41.10 65.5 - 12.50 -

Ghani Gases Ltd 725 10.43 12.52 12.94 12.35 12.41 -0.11 41502 14.10 11.40 - - - -

ICI Pakistan 1388 8.56 154.00 156.00 153.90 154.01 0.01 80740 161.00 148.02 175 - - -

Lotte Pakistan 15142 3.52 12.91 13.14 12.53 12.61 -0.30 3919323 17.36 12.53 5 - - -

Nimir Ind Chemical 1106 13.78 3.09 3.30 3.10 3.17 0.08 1048667 3.30 2.26 - - - -

Pak PVC SPOT 150 - 6.82 7.82 7.80 7.82 1.00 610 7.82 2.00 - - - -

Shaffi Chemical 120 36.75 2.30 3.20 2.30 2.94 0.64 1210 3.25 1.57 - - - -

Sitara Peroxide 551 5.08 16.41 16.80 16.40 16.41 0.00 102217 19.99 16.05 - - - -

Wah-Noble 90 5.23 37.00 37.50 37.50 37.00 0.00 200 37.99 34.19 50 - - -



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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index


993.77 1,004.75 988.19 1,004.46 10.69 1.08


26,326 9 - 3,904.20 mn 32,956.22 mn 1,004.46


6.59 1.47 22.31 44.54 6.76 988.97

Abbott (Lab) XD 979 5.89 94.68 96.25 95.00 96.09 1.41 1925 96.25 87.26 50 - - -

Ferozsons (Lab) 250 8.16 94.03 98.73 96.85 98.53 4.50 5021 98.73 88.21 - 20B 12.50 -

GlaxoSmithKline 2019 10.85 75.76 76.10 74.75 75.98 0.22 960 79.99 71.00 40 15B - -

Highnoon (Lab) 182 6.72 29.01 28.96 28.95 29.01 0.00 200 33.45 24.51 25 10B - -

IBL HealthCare Ltd 200 4.30 9.50 10.50 9.99 10.48 0.98 6661 11.95 9.00 - - - -

Searle Pak 306 5.88 59.90 61.15 59.25 60.23 0.33 11555 65.00 54.00 30 - - -



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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index


762.93 796.05 770.00 778.84 15.90 2.08


38,374 4 2 3,242.17 mn 12,548.44 mn 778.84


5.28 1.35 25.53 11.08 2.10 762.93

Pak Int Cont.Terminal 1092 7.65 81.20 85.26 82.00 83.19 1.99 38223 91.20 67.31 40 - 50SD -

PNSC 1321 7.14 24.34 24.50 24.50 24.34 0.00 151 30.89 22.90 15 - - -



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

BOOK CLOSURES

Nina Industries 18-Jul 23-Jul - - -

Exide Pakistan # 18-Jul 25-Jul - - 25-Jul

Service Industries # 23-Jul 30-Jul - - 30-Jul

Gulshan Spinning Mills # 24-Jul 01-Aug - - 01-Aug

Paramount Spinning Mills # 24-Jul 01-Aug - - 01-Aug

Gulistan Spinning Mills # 24-Jul 01-Aug - - 01-Aug

Singer Pakistan # 25-Jul 04-Aug - - 04-Aug

Ruby Textile Mills 29-Jul 04-Aug 33.20(R) - -

(TFC) United Bank 31-Jul 13-Aug - - -

Fauji Fertilizer 29-Aug 04-Sep - - -

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

TRG Pakistan Ltd. 2.52 2.73 2.47 2.51 -0.01 212435

Murree Brewery Co. 110.54 116.06 111.99 113.21 2.67 8658

Shakarganj Food 4 4.99 3.83 3.83 -0.17 5000

Pak Hotels 28.02 29.42 29.42 29.42 1.4 2500

P.I.A.C.(A) 2.2 2.3 2.15 2.25 0.05 3092

AKD Capital Limited 37 38.85 37.8 37 0 101

Pace (Pak) Ltd. 2.11 2.23 2 2.06 -0.05 1943588

Netsol Technologies 20.92 21.49 20.8 20.82 -0.1 138425

Pak Telephone 3.23 3.2 3.01 3.01 -0.22 500

Symbols Open High Low Close Change Vol


Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 79.19 points at 12,346.52. Volume was

22 per cent above average and Bollinger Bands were 19 per cent

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

ket will see major 1st resistance level at 12,418.10 and 2nd resist-

ance level at 12,489.65, while Index will continue to find its 1st sup-

port level at 12,271.15 and 2nd support level at 12,195.75.

KSE 100 INDEX is currently 5.1 per cent above its 200-day moving

average and is displaying a downward trend. Volatility is relatively

normal as compared to the average volatility over the last 10 trading

sessions. Volume indicators reflect volume flowing into and out of

INDEX at a relatively equal pace. Trend forecasting oscillators are

currently bearish on INDEX.

RSI (14-day) 50.33 Support 1 12,271.15

MA (5-day) 12,272.01 Support 2 12,195.75

MA (10-day) 12,386.19 Resistance 1 12,418.10

MA (100-day) 12,025.76 Resistance 2 12,489.65

MA (200-day) 11,745.73 Pivot 12,342.70


Pakistan Telecommunication Co Ltd

Brokerage House Target Price Recommendations

Technical Outlook

PTC closed down -0.30 at 13.08. Volume was 750 per cent above average

(trending) and Bollinger Bands were 1 per cent wider than normal.

PTC is currently 26.5 per cent below its 200-day moving average and is

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

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

reflect very strong flows of volume out of PTC (bearish). Trend forecasting

oscillators are currently bearish on PTC. Momentum oscillator is currently

indicating that PTC is currently in an oversold condition.

Arif Habib Ltd 24.7 Buy

AKD Securities Ltd 23.91 Buy

TFD Research 20.15 Positive

RSI (14-day) 13.36 MTS Shares `000 6.156

MA (10-day) 13.92 MTS Rs `000 62.02

MA (100-day) 16.44 MTS Rate 18.00

MA (200-day) 17.80 ** NOI Rs (mn) 4.18

Free Float Shares (mn) 585.06 Free Float Rs (mn) 7,652.59

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


Fauji Fertiliser Bin Qasim Ltd


Technical Outlook

FFBL closed up 1.42 at 47.01. Volume was 240 per cent above average


FFBL is currently 21.2 per cent above its 200-day moving average and is

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


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

oscillators are currently bullish on FFBL. Momentum oscillator is currently

indicating that FFBL is currently in an overbought condition.

Arif Habib Ltd 42.2 Sell

AKD Securities Ltd 45.52 Accumulate

TFD Research 47.75 Neutral


MA (10-day) 44.26 MTS Rs `000 12,937.18

MA (100-day) 42.03 MTS Rate 18.82

MA (200-day) 38.79 ** NOI Rs (mn) 76.69




Fauji Fertiliser Co


Technical Outlook

FFC closed up 6.13 at 163.83. Volume was 196 per cent above average


FFC is currently 24.1 per cent above its 200-day moving average and is



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

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

ly indicating that FFC is currently in an overbought condition.

Arif Habib Ltd 165.3 Buy

AKD Securities Ltd 120.7 Sell



MA (10-day) 155.39 MTS Rs `000 3,506.50

MA (100-day) 140.16 MTS Rate 14.61

MA (200-day) 132.03 ** NOI Rs (mn) 97.77




Engro Corporation


Technical Outlook

ENGRO closed down -4.52 at 151.42. Volume was 21 per cent above

average and Bollinger Bands were 35 per cent narrower than normal.

ENGRO is currently 21.6 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

volume flowing into and out of ENGRO at a relatively equal pace. Trend fore-

casting oscillators are currently bearish on ENGRO. Momentum oscillator is

currently indicating that ENGRO is currently in an oversold condition.

Arif Habib Ltd 224 Buy

AKD Securities Ltd 195.41 Neutral

TFD Research 245.95 Positive


MA (10-day) 158.84 MTS Rs `000 11,409.52

MA (100-day) 192.61 MTS Rate 19.00

MA (200-day) 193.06 ** NOI Rs (mn) 236.60




Pakistan Oilfields Ltd


Technical Outlook

POL closed up 7.16 at 380.37. Volume was 20 per cent above average

and Bollinger Bands were 32 per cent wider than normal.

POL is currently 22.9 per cent above its 200-day moving average and is



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

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

ly indicating that POL is currently in an overbought condition.


AKD Securities Ltd 386.5 Accumulate



MA (10-day) 372.71 MTS Rs `000 23,953.27

MA (100-day) 335.05 MTS Rate 15.00

MA (200-day) 309.51 ** NOI Rs (mn) 245.68




Bank Al-Falah Ltd


Technical Outlook

BAFL closed up 0.05 at 10.34. Volume was 14 per cent below average and

Bollinger Bands were 22 per cent narrower than normal.

BAFL is currently 1.6 per cent above its 200-day moving average and is



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

ing oscillators are currently bullish on BAFL.

Arif Habib Ltd 12.2 Hold



MA (10-day) 10.11 MTS Rs `000 6,851.88

MA (100-day) 10.11 MTS Rate 18.84

MA (200-day) 10.17 ** NOI Rs (mn) N/A




National Bank of Pakistan


Technical Outlook

NBP closed up 0.57 at 53.02. Volume was 46 per cent below Bollinger

Bands were 52 per cent narrower than normal.

NBP is currently 17.1 per cent below its 200-day moving average and is



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

ing oscillators are currently bullish on NBP.



RSI (14-day) 54.47 MTS Shares `000 1,281.369

MA (10-day) 53.30 MTS Rs `000 50,097.58

MA (100-day) 57.20 MTS Rate 17.86

MA (200-day) 63.95 ** NOI Rs (mn) 66.46

Free Float Shares (mn) 398.12 Free Float Rs (mn) 21,108.45a


EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index


1,558.30 1,605.64 1,547.65 1,556.95 -1.35 -0.09


676,595 52 11 29,771.58 mn 19,767.65 mn 1,558.57


19.49 0.43 2.21 104.74 8.35 1,547.08

1st Fid Leasing 264 - 1.51 1.50 1.50 1.50 -0.01 1500 2.00 1.15 - - - -

AL-Meezan Mutual F. 1375 4.75 10.81 11.20 10.80 11.07 0.26 69940 11.32 10.15 18.5 - 5.00 -

Atlas Fund of Funds 525 1.73 6.50 6.50 6.50 6.50 0.00 500 6.90 6.11 2.2 - - -

B R R Guardian Mod. 780 2.40 2.28 2.30 2.04 2.30 0.02 8585 2.91 1.41 0 - - -

Crescent St Modaraba 200 4.00 0.56 0.50 0.50 0.56 0.00 200 0.89 0.30 1.2 - - -

Elite Cap Modaraba 113 4.51 2.45 3.25 3.00 3.25 0.80 2060 3.60 2.10 5 - - -

Equity Modaraba 524 7.05 1.50 1.74 1.30 1.34 -0.16 550 2.50 1.10 - - - -

First Dawood Mutual F. 581 1.17 1.95 2.00 1.96 1.96 0.01 2456 2.47 1.82 - - - -

Golden Arrow 760 2.19 3.31 3.50 3.30 3.30 -0.01 43680 3.72 3.11 17 - - -

H B L Modaraba 397 3.87 8.09 7.89 7.89 7.89 -0.20 1276 8.44 7.10 11 - - -

Habib Modaraba 1008 4.21 8.19 8.20 8.10 8.13 -0.06 3437 8.44 7.26 21 - - -

JS Growth Fund 3180 2.06 5.90 6.89 5.90 6.00 0.10 120104 7.40 5.32 12.5 - - -

JS Value Fund 1186 0.58 5.74 5.73 5.47 5.49 -0.25 159840 6.68 4.91 10 - 5.00 -

Meezan Balanced Fund 1200 2.76 9.59 9.64 9.50 9.60 0.01 8000 10.19 8.46 15.5 - - -

Pak Modaraba 125 - 1.01 1.25 1.10 1.18 0.17 1769 1.50 0.60 3 - - -

PICIC Energy Fund 1000 2.18 7.51 7.65 7.40 7.40 -0.11 41652 8.25 6.92 10 - 10.00 -

PICIC Growth Fund 2835 2.77 13.35 13.60 13.50 13.51 0.16 151598 13.84 12.00 20 - 12.50 -

PICIC Inv Fund 2841 2.38 6.10 6.20 6.01 6.01 -0.09 52351 6.95 5.50 10 - 7.50 -

Prud Modaraba 1st 872 1.71 0.91 0.94 0.83 0.94 0.03 1952 1.10 0.75 3 - - -

Stand Chart Modaraba 454 5.80 10.37 10.50 10.50 10.50 0.13 4100 10.90 9.50 17 - - -

Tri-Star Mutual 50 0.67 1.10 1.49 1.00 1.00 -0.10 1021 2.00 0.72 - - - -



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

FINANCIAL SERVICES

Performance of SR Financial Services Index


287.24 304.41 283.76 288.65 1.42 0.49


8,161,276 41 6 30,336.44 mn 14,140.14 mn 289.59


11.48 0.19 0.91 99.56 4.81 287.24

AMZ Ventures 225 0.81 0.37 0.46 0.33 0.39 0.02 16514 0.64 0.26 - - - -

Arif Habib Investments 360 5.08 19.92 20.75 19.51 19.92 0.00 101 23.49 19.05 - 20B - -

Arif Habib Limited 450 19.15 17.93 18.50 18.06 18.19 0.26 23600 20.20 12.01 - 20B - -

Arif Habib Corp 3750 3.52 25.29 26.45 25.31 26.29 1.00 1769837 27.29 20.53 30 - - -

Dawood Equities 250 - 1.21 1.50 1.15 1.20 -0.01 13465 1.99 1.01 - - - -

First Credit & Invest Bank Ltd 650 - 5.02 5.20 4.50 5.01 -0.01 2501 6.10 4.26 - - - -

First National Equity 575 - 2.54 2.79 1.60 2.01 -0.53 978 5.35 1.56 - - - 140R

IGI Investment Bank 2121 7.89 1.40 1.50 1.25 1.50 0.10 5052 2.04 1.15 - - - -

Invest and Fin Sec 600 19.86 7.25 7.90 7.35 7.35 0.10 3102 9.29 7.02 11.5 - - -

Invest Bank 2849 - 0.43 0.43 0.34 0.35 -0.08 1743 1.20 0.22 - - - -

Ist Cap Securities 3166 - 2.51 2.70 2.50 2.60 0.09 23718 3.27 2.22 - 10B - -

Ist Dawood Bank 626 0.70 1.42 1.70 1.49 1.57 0.15 25890 1.96 1.30 - - - -

Jah Siddiq Co 7633 - 7.36 7.85 7.40 7.45 0.09 7719650 8.34 4.82 10 - - -

JOV and CO 508 - 2.60 2.82 2.51 2.57 -0.03 51908 3.40 2.31 - - - -

JS Global Cap 500 5.70 20.78 20.89 19.75 19.85 -0.93 14499 22.94 16.42 50 - - -

JS Investment 1000 43.00 5.10 5.44 5.01 5.16 0.06 36271 6.43 4.53 - - - -

KASB Securities 1000 - 3.21 3.72 3.04 3.21 0.00 303 4.79 3.04 - - - -

Orix Leasing 821 3.38 5.95 6.39 5.50 5.57 -0.38 118297 6.45 5.06 - - - -

Pervez Ahmed Sec 775 5.32 1.44 1.53 1.40 1.49 0.05 103155 1.99 1.32 - - - -

Sec Inv Bank 514 4.90 1.72 1.98 1.50 1.96 0.24 988 3.14 1.25 - - - -

Stand Chart Leasing 978 3.32 2.97 2.50 2.36 2.36 -0.61 2037 3.20 2.10 - - - -



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

LIFE INSURANCE

Performance of SR Life Insurance Index


919.77 937.56 912.63 930.44 10.67 1.16


1,442 4 - 2,290.72 mn 10,290.06 mn 935.12


5.30 3.49 3.85 355.53 3.92 919.73

EFU Life Assurance 850 9.96 69.00 71.50 68.55 70.93 1.93 941 73.25 50.70 50 - - -

New Jub Life Insurance 627 14.52 55.13 54.00 54.00 54.00 -1.13 500 58.99 45.10 15 - - -



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

BANKS

Performance of SR Banks Index


1,125.92 1,143.86 1,122.07 1,129.55 3.63 0.32


5,455,287 27 - 257,548.02 mn 665,303.64 mn 1,140.40


7.22 1.01 13.94 40.49 5.61 1,125.92

Allied Bank Limited 8603 6.20 62.90 63.89 62.77 62.88 -0.02 3214 68.99 59.30 40 10B - -

Askari Bank XB 7070 5.03 11.28 11.60 11.01 11.06 -0.22 330453 12.35 10.79 - 10B - -

Bank Alfalah 13492 5.44 10.29 10.65 10.30 10.34 0.05 1334580 11.02 9.42 - - - -

Bank AL-Habib 8786 6.14 28.97 29.20 28.78 28.96 -0.01 62762 29.98 28.25 20 20B - -

Bank Of Khyber 5004 1.98 4.40 4.87 4.35 4.44 0.04 5676 6.25 4.16 - - -64.41R

Bank Of Punjab 5288 - 6.60 6.90 6.61 6.68 0.08 993532 7.35 4.51 - - - -

BankIslami Pak 5280 10.16 3.80 3.88 3.62 3.76 -0.04 20535 4.09 3.25 - - - -

Faysal Bank 7327 7.20 9.50 9.80 9.35 9.50 0.00 60690 10.50 9.00 - 20B - -

Habib Bank Ltd 11021 7.33 116.92 118.00 117.00 117.33 0.41 49434 125.10 114.10 65 10B - -

Habib Metropolitan Bank XB 10478 5.47 19.49 19.95 19.01 19.04 -0.45 24389 22.45 17.00 - 20B - -

JS Bank Ltd 8150 44.00 2.25 2.34 2.20 2.20 -0.05 106333 3.00 2.06 - 33R - -

KASB Bank Ltd 9509 - 1.42 1.50 1.41 1.45 0.03 32081 1.77 1.16 -105.16R - -

MCB Bank Ltd 8362 8.07 198.44 200.90 198.01 199.65 1.21 376452 210.95 190.99 115 10B 30.00 -

National Bank 16818 4.17 52.45 53.60 52.83 53.02 0.57 1008456 55.15 49.51 75 25B - -

Network Mic Bank 300 - 2.52 3.00 1.65 3.00 0.48 1504 3.50 1.65 - - - -

NIB Bank 40437 - 1.50 1.50 1.44 1.48 -0.02 693397 2.01 1.44 -154.79R - -

Samba Bank 14335 21.50 1.71 1.78 1.70 1.72 0.01 7005 2.18 1.62 -63.46R - -

Silkbank Ltd 26716 15.69 2.46 2.59 2.50 2.51 0.05 195044 3.06 2.15 - 311R - -

Soneri Bank 6023 2.52 5.00 5.10 4.95 5.04 0.04 83000 6.69 4.95 - - - -

Stand Chart Bank 38716 6.26 7.77 7.99 7.75 7.76 -0.01 11486 9.75 7.53 6 - - -

Summit Bank Ltd 8701 - 3.76 3.70 3.60 3.69 -0.07 143058 4.75 2.67 - - - 20R

United Bank Ltd 12242 7.19 61.04 61.50 61.00 61.19 0.15 55262 65.01 60.40 50 - - -



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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index


733.07 743.53 728.41 735.22 2.15 0.29


304,001 34 22 11,111.34 mn 45,772.74 mn 739.29


10.70 0.56 5.20 79.54 7.44 733.07

Adamjee Insurance XD 1237 6.85 64.12 65.00 63.67 63.85 -0.27 46294 71.30 62.00 25 - - -



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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index


1,276.37 1,294.18 1,278.43 1,282.20 5.83 0.46


306,168 2 - 12,202.80 mn 28,139.00 mn 1,287.22


8.30 0.95 11.41 66.79 8.05 1,276.37

Sui North Gas 5491 14.29 19.74 20.10 19.98 20.00 0.26 269630 23.60 17.64 20 - - -Sui South Gas 8390 4.62 20.53 20.73 20.35 20.45 -0.08 36538 23.75 20.30 15 25B - -



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

ELECTRICITY

Performance of SR Electricity Index


1,351.44 1,374.72 1,352.39 1,363.71 12.26 0.91


1,345,979 15 1 95,369.29 mn 104,415.52 mn 1,363.71


13.30 1.24 9.35 104.13 7.83 1,351.44

Genertech 198 - 0.50 0.68 0.51 0.50 0.00 1502 0.80 0.16 - - - -

Hub Power 11572 7.81 38.37 38.97 38.50 38.88 0.51 260266 39.45 36.70 50 - 25.00 -

Japan Power 1560 - 1.18 1.25 1.12 1.15 -0.03 10055 1.70 0.97 - - - -

KESC 7932 - 2.15 2.25 2.11 2.15 0.00 95757 2.68 2.10 - 7.8R - -

Kohinoor Energy 1695 4.85 16.05 16.75 16.50 16.05 0.00 301 18.00 15.41 25 - 10.00 -

Kot Addu Power 8803 5.46 42.72 43.00 42.40 42.52 -0.20 144749 44.19 41.75 50 - 30.00 -

Nishat Chunian Power Ltd 3673 2.52 13.80 14.24 13.75 14.00 0.20 185677 17.25 13.47 - - 10.00 -

Nishat Power Ltd 3541 2.26 15.62 16.00 15.70 15.86 0.24 548658 17.70 15.40 - - - -

Southern Electric 1367 - 1.27 1.43 1.20 1.21 -0.06 95514 1.69 1.13 - - - -

Tri-star Power XD 150 - 0.77 0.95 0.95 0.95 0.18 3500 1.35 0.36 - - - -



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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index


861.66 878.72 817.53 842.89 -18.77 -2.18


11,983,160 5 - 50,077.79 mn 52,930.11 mn 903.78


4.07 0.52 12.84 62.56 15.38 842.89

Pak Datacom 78 28.24 29.73 29.99 29.00 29.37 -0.36 2390 46.50 28.71 80 - 15.00 -

Pak.Telecomm Co A 37740 10.72 13.38 13.62 12.65 13.08 -0.30 11401563 17.83 12.65 17.5 - - -

Telecard 3000 2.46 1.48 1.54 1.45 1.45 -0.03 58112 1.94 1.40 1 - - -

WorldCall Tele 8606 - 1.93 2.00 1.88 1.90 -0.03 521095 2.50 1.88 - - - -

Wateen Telecom Ltd 6175 - 2.04 2.10 2.03 2.05 0.01 284082 3.09 1.94 - - - -



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

Ask Gen Insurance 280 3.05 9.00 8.95 8.15 8.17 -0.83 700 10.95 8.11 -10B 25R - -

Atlas Insurance 443 3.60 29.03 29.50 28.80 28.95 -0.08 947 29.60 26.00 40 20B - -

Central Insurance 391 1.40 65.01 64.70 64.00 64.07 -0.94 5175 75.37 63.06 25 50B - -

Century Insurance 457 4.55 8.00 8.27 8.00 8.19 0.19 603 9.35 7.89 10 - - -

EFU General Insurance 1250 13.35 35.04 35.79 34.70 35.79 0.75 1146 39.65 29.01 12.5 - - -

Habib Insurance 450 7.69 11.10 11.40 11.06 11.08 -0.02 1200 11.90 10.95 25 12.5B - -

IGI Insurance 970 5.98 72.74 72.89 71.97 72.20 -0.54 44889 76.12 67.00 30 55B 10.00 -

New Jub Insurance 989 10.19 58.00 58.00 58.00 58.00 0.00 299 62.37 51.16 20 25B - -

Pak Reinsurance 3000 5.52 15.65 16.10 15.70 15.91 0.26 181780 18.30 12.43 30 - - -

Premier Insurance 303 3.59 8.05 8.37 8.00 8.05 0.00 16451 8.99 8.00 25 - - -

Reliance Insurance 284 4.52 7.40 7.50 7.41 7.41 0.01 3110 7.90 5.76 - 12.5B - -

Shaheen Insurance 250 9.08 12.50 13.50 11.50 13.44 0.94 1114 14.49 11.50 - - - 25R

Silver Star Insurance 291 0.91 5.20 5.88 4.40 5.20 0.00 113 6.40 4.21 - 15B - -

Universal Insurance 263 - 1.50 1.50 1.50 1.50 0.00 179 2.39 1.32 - - - -

UPTO 100 VOLUME

GATM 49.00 47.50 47.50 49.00 0.00 100

ICCT 0.75 1.00 1.00 0.75 0.00 100

RCML 27.36 28.22 28.22 27.36 0.00 100

SHFA 33.00 33.95 33.95 33.00 0.00 100

SHCM 19.90 20.90 20.90 20.90 1.00 91

PSYL 19.98 20.39 18.99 19.98 0.00 52

PAKT 93.80 95.00 95.00 93.80 0.00 50

FASM 43.80 45.98 45.98 43.80 0.00 30

SITC 101.56 98.00 98.00 101.56 0.00 25

SHDT 12.00 12.00 12.00 12.00 0.00 23

AGL 17.59 18.10 17.99 17.59 0.00 20

FTSM 1.55 1.42 1.42 1.55 0.00 20

RMPL 2500.96 2626.00 2540.00 2595.25 94.29 19

MWMP 0.95 1.20 0.95 0.95 0.00 15

HINO 111.27 111.50 111.50 111.27 0.00 10

LIBM 60.47 57.45 57.45 60.47 0.00 10

POML 40.00 42.00 42.00 40.00 0.00 8

STPL 9.00 10.00 8.80 9.00 0.00 6

PIOC 5.32 6.24 5.85 5.32 0.00 5

SHEZ 149.30 156.48 155.00 149.30 0.00 5

SMTM 4.56 5.55 4.13 4.56 0.00 5

COLG 736.00 770.00 735.10 736.00 0.00 4

DNCC 1.22 1.95 1.23 1.22 0.00 4

FPJM 1.11 1.19 1.18 1.11 0.00 4

WYETH 987.00 938.76 938.19 987.00 0.00 4

CJPL 0.79 1.60 0.61 0.79 0.00 3

TRIBL 1.01 1.11 1.11 1.01 0.00 3

CLCPS 0.81 1.78 1.76 0.81 0.00 2

DATM 0.11 0.80 0.40 0.11 0.00 2

DFSM 1.70 2.24 2.24 1.70 0.00 2

MEBL 17.80 17.85 17.30 17.80 0.00 2

MFFL 78.25 82.16 82.16 78.25 0.00 2

TATM 31.75 32.32 32.32 31.75 0.00 2

ADOS 8.50 8.50 8.50 8.50 0.00 1

ASIC 18.50 17.70 17.70 18.50 0.00 1

ATEL 39.50 41.00 41.00 39.50 0.00 1

BOKR 0.01 0.03 0.03 0.01 0.00 1

CSUML 2.00 2.19 2.19 2.00 0.00 1

DCM 1.30 1.64 1.64 1.30 0.00 1

EWLA 1.40 1.91 1.91 1.40 0.00 1

GAIL 3.44 3.50 3.50 3.44 0.00 1

GLPL 57.12 54.27 54.27 57.12 0.00 1

ISIL 74.68 70.95 70.95 74.68 0.00 1

KML 1.25 1.30 1.30 1.25 0.00 1

KOSM 1.55 1.40 1.40 1.55 0.00 1

PCAL 45.60 47.00 47.00 45.60 0.00 1

SANSM 11.85 11.82 11.82 11.85 0.00 1

SPLC 0.65 0.79 0.79 0.65 0.00 1

UPFL 1713.93 1799.00 1799.00 1713.93 0.00 1

YOUW 1.16 1.24 1.24 1.16 0.00 1


FUTURE CONTRACTS

FFBL-JUL 45.70 47.59 45.99 47.17 1.47 1559500

ENGRO-JUL 156.66 158.99 151.37 152.17 -4.49 898500

FFC-JUL 158.42 165.78 159.50 164.65 6.23 766000

POL-JUL 374.69 382.00 376.40 381.37 6.68 529500

PTC-JUL 13.41 13.50 12.80 13.12 -0.29 440000

DGKC-JUL 22.84 23.19 22.80 22.89 0.05 162000

ATRL-JUL 127.46 130.60 127.85 129.34 1.88 146000

NBP-JUL 52.78 53.85 53.20 53.30 0.52 102000

NML-JUL 51.23 51.95 51.40 51.50 0.27 64500

MCB-JUL 199.92 201.90 199.20 200.34 0.42 58000

PPL-JULB 209.21 211.50 210.00 210.44 1.23 46000

LUCK-JUL 71.60 72.30 71.90 72.01 0.41 9500


MTS LEVERAGE POSITIONSymbol Total Volume Total Value MTS Rate

AHCL 636,343 12,009,732 19.60

AICL 17,199 837,695 -

AKBL 494,740 4,098,075 20.00

ANL 332,600 1,444,962 20.00

ATRL 41,980 3,956,328 19.74

BAFL 919,750 6,851,883 18.84

DGKC 464,633 7,940,852 17.72

ENGRO 96,756 11,409,515 19.00

FFBL 391,129 12,937,180 18.82

FFC 29,100 3,506,505 14.61

HUBC 7,000 201,886 -

KAPCO 84,687 2,730,878 -

LOTPTA 2,918,101 28,442,971 18.77

LUCK 56,126 3,017,738 17.00

MCB 19,850 2,975,257 16.35

NBP 1,281,369 50,097,584 17.86

NCL 345,581 5,784,438 20.00

NETSOL 10,000 158,712 20.00

NML 330,284 12,643,450 18.36

OGDC 500 56,744 -

PAKRI 276,776 3,304,306 20.00

POL 84,450 23,953,274 15.00

PPL 35,000 5,494,053 16.00

PSO 23,500 4,646,199 18.00

PTC 6,156 62,022 18.00

SSGC 3,000 46,386 -

UBL 102,500 4,681,955 17.86

TOTAL 9,009,110 213,290,577 16.47

Al-Abbas Cement 39.61 2.40 2.35 2.55 2.65 2.50

Allied Bank Limited 43.83 62.45 62.05 63.60 64.30 63.20

Attock Cement 38.66 48.65 48.60 48.95 49.10 48.85

Arif Habib Corp 60.93 25.60 24.90 26.75 27.15 26.00

Arif Habib Limited 53.80 18.00 17.80 18.45 18.70 18.25

Adamjee Insurance 35.80 63.35 62.85 64.65 65.50 64.15

Askari Bank 39.90 10.85 10.65 11.45 11.80 11.20

Azgard Nine 45.05 5.75 5.65 6.00 6.20 5.95

Attock Petroleum 48.33 377.90 376.20 381.15 382.70 379.45

Attock Refinery 54.60 127.40 126.05 130.25 131.70 128.85

Bank Al-Falah 59.11 10.20 10.10 10.55 10.80 10.45

BankIslami Pak 53.66 3.60 3.50 3.90 4.00 3.75

Bank.Of.Punjab 54.65 6.55 6.45 6.85 7.00 6.75

Dewan Cement 42.83 1.60 1.55 1.70 1.75 1.65

D.G.K.Cement 42.34 22.55 22.40 23.00 23.25 22.85

Dewan Salman 43.20 2.55 2.50 2.65 2.75 2.60

Dost Steels Ltd 62.50 2.55 2.45 2.75 2.85 2.65

EFU General Insurance 51.27 35.05 34.35 36.15 36.50 35.45

EFU Life Assurance 60.63 69.15 67.40 72.10 73.30 70.35

Engro Corp 22.45 148.30 145.15 156.35 161.25 153.20

Faysal Bank 47.46 9.30 9.10 9.75 10.00 9.55

Fauji Cement 36.01 4.00 3.90 4.20 4.35 4.15

Fauji Fert Bin 78.72 46.15 45.30 47.65 48.25 46.80

Fauji Fertilizer 73.12 160.15 156.50 166.30 168.80 162.65

Habib Bank Ltd 48.49 116.90 116.45 117.90 118.45 117.45

Hub Power 60.53 38.60 38.30 39.05 39.25 38.80

ICI Pakistan 46.89 153.30 152.55 155.40 156.75 154.65

Indus Motors 16.95 203.95 203.15 206.00 207.25 205.20

J.O.V.and CO 41.22 2.45 2.30 2.75 2.95 2.65

Japan Power 43.53 1.10 1.05 1.20 1.30 1.15

JS Bank Ltd 36.20 2.15 2.10 2.30 2.40 2.25

Jah Siddiq Co 44.21 7.30 7.10 7.75 8.00 7.55

Kot Addu Power 44.28 42.30 42.05 42.90 43.25 42.65

K.E.S.C 41.30 2.10 2.05 2.20 2.25 2.15

Lotte Pakistan 26.95 12.40 12.15 13.00 13.35 12.75

Lucky Cement 52.23 71.50 71.10 72.25 72.65 71.90

MCB Bank Ltd 44.10 198.15 196.65 201.05 202.40 199.50

Maple Leaf Cement 42.78 2.05 2.00 2.15 2.20 2.10

National Bank 54.39 52.70 52.40 53.45 53.90 53.15

Nishat (Chunian) 33.26 21.60 21.25 22.45 22.90 22.10

Netsol Technologies 43.04 20.60 20.35 21.30 21.75 21.05

NIB Bank 34.56 1.40 1.35 1.50 1.55 1.45

Nimir Ind.Chemical 65.08 3.10 3.00 3.30 3.40 3.20

Nishat Mills 36.53 51.05 50.75 51.70 52.05 51.40

Oil & Gas Dev. XD 45.61 149.50 148.25 152.00 153.25 150.75

PACE (Pakistan) Ltd. 31.55 1.95 1.85 2.20 2.35 2.10

Pervez Ahmed Sec 45.11 1.40 1.35 1.50 1.55 1.45

P.I.A.C.(A) 49.72 2.15 2.10 2.30 2.40 2.25

Pioneer Cement 46.04 5.75 5.70 5.85 5.90 5.80

Pak Oilfields 73.79 376.50 372.60 382.85 385.30 378.95

Pak Petroleum 47.50 207.95 206.50 210.90 212.45 209.45

Pak Suzuki 39.58 62.60 62.00 64.40 65.60 63.80

P.S.O. XD 35.38 261.80 260.55 265.15 267.25 263.90

P.T.C.L.A 13.45 12.60 12.15 13.60 14.10 13.10

Shell Pakistan 46.57 220.70 218.90 225.55 228.65 223.80

Sui North Gas 48.72 19.95 19.90 20.10 20.15 20.05

Sitara Peroxide 35.67 16.30 16.15 16.70 16.95 16.55

Sui South Gas 37.06 20.30 20.15 20.65 20.90 20.50

Telecard 35.41 1.45 1.40 1.55 1.60 1.50

TRG Pakistan 39.77 2.40 2.30 2.65 2.85 2.55

United Bank Ltd 39.69 60.95 60.75 61.45 61.75 61.25

WorldCall Tele 34.52 1.85 1.80 2.00 2.05 1.95

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Faysal Bank Ltd 18-Jul 3:00

Shahtaj Sugar Mills Ltd 18-Jul 11:30

Clariant Pak Ltd 28-Jul 3:00

Unilever Pakistan Ltd 09-Aug 10:30

BOC Pak Ltd 12-Aug 3:00

Unilever Pakistan Foods Ltd 11-Aug 2:30

Kot Addu Power Company Ltd 05-Sep 1:00

BOARD MEETINGS

Company Date Time

7Stock Review & ContinuationsSaturday, July 16 , 2011

TOKYO: The Nikkei shareaverage rose on Friday,buoyed by Europeaninvestors scooping up cycli-cal shares, but was capped bythe top of the narrow range ithas traded in for most of theweek, with the majority of bigplayers on the sidelines aheadof bank stress tests in Europe.

Home electronics retailerslike Yamada Denki bolsteredthe market after a mediareport saying Japan willrevive a programme to pro-mote energy-efficient appli-ances as it looks to easepower shortages in the wakeof the March 11 earthquake.

Appetite for riskier assetswas tentatively maintainedafter S&P futures shruggedoff a warning from Standard& Poor's that there was at

least a 50 per cent chance itwould downgrade its ratingon US debt.

But traders were reluctantto make big bets ahead of theresults of stress tests onEuropean banks due later inthe day, as well as before along weekend in Japan.

Investors were hedgingagainst negative test resultsby shifting funds into defen-sive sectors such as pharma-ceuticals and railways.

"The market is stronglysupported by European andAsian investors. Europeansare now switching to autosand machinery, as Japan ispoised to recover sharplyafter the quake," saidHideyuki Ishiguro, a supervi-sor at Okasan Securities.

Banks shares were lacklus-

tre ahead of the stress tests inEurope, failing to capitaliseon the higher-than-expectedprofit reported by JPMorganChase & Co

"The combination of theupcoming three-day week-end, bank stress tests andearnings by bellwether UScompanies like Apple duenext week are depressing vol-umes," Ishiguro said.

The benchmark Nikkei wasup 0.4 per cent at 9,974.47after opening marginallylower. The Nikkei has spentmost of the week trappedbetween resistance at 10,000and immediate support at its200-day moving average,around 9,901.

The broader Topixadded 0 .3 per cent to859.36.-Reuters

Nikkei edges up but cappedahead of bank stress tests

HONG KONG/SHANG-

HAI: Hong Kong shares fellon Friday, dragged down byChinese property stocksafter Beijing extended homepurchase restrictions to coolsurging property prices, withthe Hang Seng Index postingits biggest weekly declinesince March.

On top of the worseningeuro zone debt crisis, marketplayers have been spookedby warnings from Moody'sand Standard & Poor's thisweek that it could cut theUnited States' prized triple-A rating by one or morenotches this month if a dealon raising the government'sdebt ceiling is not reachedsoon.

The Hang Seng Index fin-ished down 0.3 per cent onthe day at 21,875.38 pointsas turnover remained underits 20-day moving averageand declined slightly fromThursday. The index fell 3.8per cent on the week.

The highest turnover onthe Hang Seng this weekcoincided with the worstone-day drop in fourteen

months on Tuesday, whileturnover declined as themarket rebounded mildly onWednesday. This possiblyindicates investors weremore willing to sell in aweakening market than tobuy in a rising one.

Chinese Overseas Land &Investment Ltd and ChineseResources Land Ltd werethe top two losers amongbenchmark constituents onFriday after Beijing onThursday extended homepurchase restrictions tomore cities in its latest moveto curb housing inflation.

"It's pretty obvious(theauthorities) want the targetprice to come down, butthey are very focused onweeding out the speculativedemand this time," said LeeWee-Liat, SamsungSecurities' regional head ofproperty.

Chinese Overseas Landfell nearly 5 per cent, whileChina Resources Land shednearly 3 per cent.

"We believe both the mar-ket consensus and propertydevelopers are overly opti-

mistic about a potential mar-ket rebound (in the secondhalf of 2011)," said CreditSuisse property analysts in areport on Friday.

Credit Suisse expects com-panies that have significant-ly outperformed, such asLongfor Properties Co Ltdand Evergrande Real EstateGroup Ltd , to come underselling pressure in the nearterm despite maintaining anoutperform rating onEvergrande. Longfor fin-ished down 1.5 per cent onthe day, while Evergrandereversed a more than 3 percent loss at midday to finishup 2.8 per cent.

In Shanghai, surging con-struction-related nameshelped the ShanghaiComposite Index reverseearly losses to close up 0.4per cent on the day and up0.8 per cent on the week at2,820.2 points.

Shanghai's fourth-straightweekly gain came as A-share turnover hit its highestthis week on Friday, almost18 per cent more than its 20-day average.-Reuters

Hong Kong shares slide

Nawaz Ali

KARACHI: The week endedon a bullish note at the KarachiStock Exchange KSE) onFriday ending above 12,300levels with improved volumesas investors bought fertilizerstocks on rise in fertilizerprices and on hopes of bettercorporate results and payouts.

The benchmark KSE-100index increased by 79 pointsto close at 12,346 points,KSE-30 index rose by 113points to close at 11,792points and KSE all-shareindex grew by 50 points toclose at 8,563 points.

"Fertilizer stocks continuedto support index after increasein urea prices", said SamarIqbal, equity dealer at ToplineSecurities.

It should be noted that Engroraised urea price by Rs125 perbag, owing to curtailed supplyof gas. Engro has attributed the

increase to huge productionlosses due to enhanced gascurtailment. After the said stepby Engro other fertilizer manu-facturers i.e. FFC and FFBLwould also raise the ureaprices.

FFC gained Rs6.13 as it isthe major beneficiary ofincrease in urea prices.However, investors preferredto offload Engro Corporationafter it announced plant clo-sure due to gas curtailment,Samar added.

Following the improvementin the law and order situationin the city after Sindh ministerapologized on his statement,market started the day with 6points up. Positive activitiesthen continued throughout theday as investors kept tookpositions in stocks mainlyfrom the fertiliser and oil sec-tors. Therefore the first sessionof the day closed with a gain of115 points.

Green numbers were thenincreased during the sessionwhere index touched an intraday high of 12,412 points (+ve145). However, as it was thelast trading day of the week.Therefore, investors opted tobook profit at higher levels andit close the day with someclipped gains.

Investor participation tooremained on the higher side as69.2 million shares traded dur-ing the day which is 43.9 mil-lion shares more as comparedto a turnover of 25.3 millionshares a day earlier.

Pakistan Telecommunicationwas the volume leader with11.4 million shares followedby Fauji Fertilizer Bin Qasimwith 8.89 million shares andJahangir Siddiqui &.Co. with7.71 million shares.

Out of total 341 activeissues; 127 advanced and 114declined while 100 issuesremained unchanged.

Shares soar onselective buyingat local bourse

MUMBAI: Indian shareslogged their first weeklydecline in four and shed 0.3 percent on Friday, as foreign fundsopted to lock in gains, withinvestor caution seen risingahead of the central bank's pol-icy review this month. Top soft-ware services exporter TataConsultancy Services buckedthe trend and rallied as much as4.8 per cent, as investorswarmed up to its forecast-beat-ing quarterly earnings.

The 30-share BSE indexdeclined 56.28 points to18,561.92, taking losses for theweek to 1.6 per cent, with 22 ofits components losing ground.It had gained 5.5 per cent overthe previous three weeks,buoyed by foreign fund inflowsof $2.5 billion since June 23.But, the inflows have slowedwith data showing foreign insti-tutional investors (FIIs) weresellers in at least one day thisweek, leading to doubts ontheir near-term moves.

The 50-share NSE index shed0.3 per cent to 5,581.10 points.

ICICI Securities' Char saidinvestor caution was reflectedin anemic volumes, which onthe NSE dropped to 445 millionshares from the average 90-daydaily volume of 580 millionshares.

"I think that FIIs are justshifting money from one geog-raphy to another. Does not looklike there are a lot of freshflows," said SunderSubramaniam, senior manager

of sales at brokerageSharekhan.

"With Europe in trouble, wemay benefit in the short run interms of diversion of flows, butoverall risk appetite is comingoff," Subramaniam added.Financials led the drop, withthe banking sector index shed-ding 0.3 per cent on concernsthe central bank may raise ratesat its review on July 26 to tamesticky inflation.

Investors also closely fol-lowed the progress of monsoonrains, critical to India's trillion-dollar economy, and the inves-tigations over Wednesday'sbomb blasts in the financialcapital, Mumbai. The monsoonrains were 19 per cent belownormal in the week to July 13, aslight pick up from a quarterbelow average in the previousweek.

Prime Minister ManmohanSingh vowed late Thursday tobring to justice those behind thetriple bomb attacks onMumbai, and police questionedmembers of a home-grownIslamist militant group.

TCS closed nearly 2 per centhigher, while smaller rivalWipro, which details its earn-ings on July 20, climbed 0.8 percent. After the market hours onThursday, TCS beat estimateswith a 28 per cent rise in quar-terly net profit as westernclients increased spending ontechnology services, butwarned of global uncertainty. -Reuters

Indian shares

post weekly fall

US stocks early-trade

Wall Streetgives up gains

on weakereconomy

NEW YORK: Wall Street gaveup much of its early gains onFriday as signs of weakness inthe US economy and concernover European bank stress testsoutweighed strong earningsfrom Google and Citigroup.

A report showing US con-sumer sentiment slipped in Julyto its lowest level since March2009, a weak reading from themanufacturing sector in NewYork State, and anticipation ofthe bank stress tests results duelater on Friday weighed on sen-timent. "We expect it to continueto be a roller coaster, driven bythe European stress test, the USdebt and tax agreements ... andearnings," said Kim CaugheyForrest senior equity researchanalyst at Fort Pitt CapitalGroup in Pittsburgh.

Consumer discretionary stockswere among the biggest drags.Home Depot fell 0.7 per cent,while the S&P 500's discretionaryindex fell 0.3 per cent. The DowJones industrial average dropped17.30 points, or 0.14 per cent, to12,419.82. The Standard & Poor's500 Index dropped 0.01 points, or0.00 per cent, to 1,308.86. TheNasdaq Composite Index gained9.44 points, or 0.34 per cent, to2,772.11.

Google Inc's earnings beat themost bullish forecasts, sendingits shares up 12 per cent and lift-ing the Nasdaq. Citigroup Incposted higher net income,helped by falling credit losses.The stock rose 0.7.-Reuters

Bank stress

test deepens

FTSE gloomLONDON: Britain's top sharesedged lower on Friday, havingposted their biggest weeklydecline in four months, as wor-ries about bank stress testresults due after the marketclose took their toll on investorsentiment.

The UK benchmark indexended 3.29 points, or 0.1 percent, lower at 5,843.66, leavingit down 2.5 per cent for theweek.

Banks fell, having oscillatedbetween positive and negativeterritory throughout the day astraders readied themselves forthe publication of the stress testresults by the EuropeanBanking Authority at 1600GMT.

Lloyds Banking Group ledthe sector lower, down 2.5 percent, while Barclays shed 1.1per cent.

"Everything's just a little bitcautious ahead of these stresstest results," David Jones, chiefmarket strategist at IG Index,said. "All this week 5,800 (theweek's lows) has propped up themarket, so I think that if thereare no shocks in these results,then next week we are reason-ably poised for a bit of a rally."

The credibility of regulatorsis on the line after last year'sstress test failed to convinceinvestors that banks had sta-bilised after the financial crisis.

"It looks as if it's going to be amore rigorous test this timeround. It's part of the process ofrebuilding confidence in thefinancial system, which is veryimportant," Henk Potts, marketstrategist at Barclays Wealth, said.

"It will be interesting to seeone, how many fail, and two,what solutions will be imple-mented to make sure the finan-cial system will continue tooperate successfully onMonday morning."

The bulls had found somecause for enthusiasm in strongearnings from Google Inc andCitigroup Inc, but this was tem-pered by signs of weakness inthe U.S. economy.

US blue-chips pared earlygains by London's close, up 0.1per cent, after a report showingUS consumer sentiment slippedin July to its lowest sinceMarch 2009, and a weak read-ing from the manufacturingsector in New York State.

EXPENSIVE VENTUREMiners declined as concerns

over global growth clouded thedemand picture, with BHPBilliton among the worst off,down 1.9 per cent, after itswooped for US gas producerPetrohawk Energy Corp in a$12.1 billion deal.

"What does on the surfacelook like an expensive ventureinto alternative energy couldreap significant rewards asBilliton gets in at ground levelinto a potentially highly lucra-tive industry," Manoj Ladwa,senior trader at ETX Capital,said.-Reuters

of commuters that pass through the nearby rail station.Mumbai's diamond trade began about 40 years ago in what is

now the main building, Panchratna, which means five gems inHindi. The bourse has since expanded into about 10 buildings,with up to 4,500 stores. All vaults are housed in Panchratna.

Traders from Belgium and Israel are often seen in the smallshops with metallic shutters set along a cobblestone street.

The new Bharat Diamond Bourse complex, which opened inOctober, is spread over 20 million square feet in the Bandra-Kurlacomplex in suburban Mumbai, home to global banks and othermultinationals and nearly deserted after dark.

India's newer and larger National Stock Exchange is also housedin Bandra-Kurla; the Bombay Stock Exchange, Asia's oldest,remains in south Mumbai's traditional trading district.

Shaped like a diamond, the new bourse has 2,500 offices andformal security, including armed guards, a feature absent in theOpera House area, where merchants carry their diamonds everyevening to the vaults at Panchratna, which close at 7 p.m.

"The new site will not allow such things moving in and out forsecurity reasons, and that will hinder the security of the people ifthey have to declare they are carrying diamonds. Also, it is not acrowded area and anyone entering or leaving can be a target forrobbery," Popley said.

Wednesday's blast came just as most merchants were carryingtheir diamonds to the vaults. The site was sealed after the blast,and the fate of the diamonds is not known, traders said. - Reuters

Continued from page 8No #1

The President said that all the Mohajirs, whether in Sindh, KPK,Punjab or any other part of the country were Pakistanis and sonsof the soil. He said that any suggestion to the contrary or anyinsinuation that tended to undermine their status as Pakistaninationals or patriotism is abhorrent.

The President said that the real and the greatest threat to thecountry came from the militants and emphasised upon the need tostand united against the real enemy.

The President said that this was time to strengthen democraticpolitical forces, unite the people and build them as bulwarkagainst militancy and terrorism and not to do anything that under-mined their strength.

The President said "our young democracy was under threat frommilitancy and extremism. The present situation demands politicalforces to manifest tolerance and patience so that the country, itspeople and nascent democracy could be protected from all suchelements which are hostile to democracy", he said. - Agencies


"Both sides were able to agree on the way forward in intelli-gence," the Pakistani official told Reuters on condition of anonymi-ty. "This visit has put the intelligence component back on trackcompletely." The relationship between US and Pakistani intelli-gence services was especially strained after US Special Forces con-ducted a secret raid in Pakistan in May that killed Osama.

Pakistan branded the operation a violation of its sovereignty andPasha offered to resign. "We have had difficulties since May 2,"the senior Pakistani official said. "Those difficulties are beingaddressed." Pasha had also been expected to meet with the headsof congressional intelligence committees during this visit, but themeeting did not happen because of time constraints, a US sourcefamiliar with the visit said. - Reuters


Additional Director General, Federal Investigation Agency,Zafar Ahmed Qureshi was unlawful.

The Court summoned relevant record over suspension of ADGFIA which was presented by Attorney General for Pakistan MolviAnwarul Haq, accompanied by secretary Establishment DivisionSuhail Ahmed and Secretary Interior Khawaja Siddique Akbar.

To bench's query, Secretary Establishment Division SuhailAhmed replied that the summary was moved by the secretary inte-rior and it was not moved under Establishment Division Rules(EDR). He said that the hand written para by the concerned secre-tary was made basis for FIA official's suspension.

The Chief Justice said that they had issued order on July 1 andthe suspension order of the official was passed on July 2 withapparent attempt to defy judicial stricture.

He remarked "You ought to go through Article 4 of theConstitution every morning which clearly states dealing with indi-viduals' rights in accordance with law'. Moreover, officials likeyou were further bound by Article 5 for showing loyalty to theState and the Article 10A (about fair trial), he added. The benchdirected that the original record should be submitted with theRegistrar office.

The Chief Justice told them that they would proceed further inthe matter on July 18. He also asked the Attorney General (AG) torealize in which direction things were heading.

Earlier, the AG apprised the bench that he had conveyed Court'sconcerns to the relevant authorities.

To bench's question he said so far one FIA officer who wastransferred to Peshawar had resumed charge of his duties.

However, he remained silent when the Chief Justice inquiredhim about the harassment issue which was being faced by Zafar


Subsequently violence flared up in city again on Wednesday night when senior minister of Sindh govtand vice president of PPP Zulfiqar Mirza made scathing verbal attack on MQM, its leader Altaf Hussainand Urdu speaking community. Consequently violence erupted all over Karachi and Hyderabad and onsubsequent day shutdown was witness in almost all main cities of Sindh where Karachi presented adeserted look where people preferred to stay inside causing complete shutdown in city.

According to a transporters representative, there were approximately 18,500 vehicles plying on thecity roads, 8000 mini buses, 7000 coaches and around 3,500 big buses. Daily income of every vehi-cle ranges from Rs5,000 to Rs10,000, which can help estimate the total per day losses of transportsector only. Similarly, daily turnover of all industries located in Karachi is estimated to be about Rs3billion daily while that of businesses and retails daily combined net profit is estimated to be Rs1 bil-lion daily. Therefore, according to conservative estimates Rs7 billion per day loss can be correct onaccount of intense turmoil in the city.


still 8 per cent or 50 per cent the sales tax (16 per cent) levied on other items. An amount of Rs6.30 per kg (Sales tax 8 per cent at market value and Special Excise Duty at 2.5

per cent) was already added to the retail market price at that time, it added.Now, sugar has been exempted from sales tax through Finance Act 2011 while 8 per cent Federal

Excise duty (FED) has been imposed. Moreover 2.5 per cent Special Excise Duty (SED) has alsobeen abolished as for all other items. As such if ex-mill price is taken as Rs 60 per kg then the 8 percent FED will be Rs4.80 per kg. Therefore, any increase in price is unwarranted since the net effectis a reduction in tax. Sugar price should in fact be reduced from the March 2011 level to the tune ofRs1.50 per kg approximately since now SED has been abolished.

It may be pointed out that it was reported in various newspapers a day earlier that another sugarcrisis is round the corner, as the country could face a shortage of around 250,000 metric tonne andthe price of the commodity is expected to rise in the coming weeks.

Reports said that there are multiple factors, which would result in a shortage of sugar in the coun-try namely, the smuggling to Afghanistan, high landed cost of imported sugar in Pakistan, increasein sugar intake in Ramazan and wrong calculations by policymakers. The consumption of sugar isexpected to increase sharply in the holy month of Ramazan. This is largely due to the increase ofintake of juices and beverages in summer. The monthly consumption of sugar in the country is esti-mated at 350,000 metric tonne but in Ramazan it would touch 500,000 metric tonne.

Currently, the price of sugar is looming at Rs70 to Rs72 per kilogram. It is also pertinent to men-tion that around 35 per cent stocks with TCP are not consumable and the problem would get severe.The sugar mills would also melt 150,000 tonnes of sugar for remaking. - Agencies


Qureshi. The Chief Justice remarked that so far they were exercising restraint. "We will send therequest to Chief Justice Lahore High Court to appoint a judge to investigate the issue and resolve itonce for all," he added.

He said "No one in the country now accepts corruption and in this case, huge money has to berecovered and the responsible are to be brought to book." He said that in all cases they had to appointCommissions. Responding to another query of the bench about a media campaign against judiciaryin electronic media, the Attorney General replied that he had communicated to the SecretaryMinistry of Information who had also talked to the Registrar office over the matter.

He told us that they were looking into the issue and the sponsors behind it, he added.The Chief Justice observed that this incident would go down in the history of the country that an

honest man who was implementing Court's orders and stood up against corruption, was not allowedto perform his duties. Justice Khilji Arif Hussain while comparing situation in Karachi to anarchy,observed that defiance of Court's orders might lead to similar chaos in society.

On Thursday, the same bench had sent the issue of non-compliance of its order by the FIA DirectorGeneral Syed Tahseen Ali Shah, regarding reversal of transfer orders of four FIA officials, to theSecretary Establishment to further place it before the competent authority for initiation of immedi-ate proceedings against him.

Earlier in yesterday's hearing, the apex court gave the government one day's notice to reinstateZafar Qureshi as the Chief Investigative Officer in the NICL case.

It is pertinent to note here the federal government Monday night suspended senior FIA officer,Zafar Ahmad Qureshi, on the pretext of his "speaking to media". However, in a counter move, theapex court cancelled his transfer orders.

The interior ministry appointed Shafqat Naghmi as an inquiry officer and asked him to submitreport in one week. - NNI

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ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to Prof GL Peiris, Sri Lankan Minister for External Affairs who called on

him at PM House-APP

ISLAMABAD: President AsifAli Zardari on Friday said thatPakistan values its relationswith Sri Lanka which are basedon mutual respect, shared cul-tural heritage and shared per-ceptions on host of issues.

He said that there was a needto translate this equation intoeconomic terms and takeadvantage of each other's eco-nomic expertise and opportuni-ties.

The President was talking toForeign Minister of Sri LankaProf Gamini Lakshman Peiris,who called on him here at theAiwan-e-Sadr on Friday.

He was accompanied by HighCommissioner of Sri Lanka,Air Chief Marshal (R) JayalathWeerakkody and Deputy Headof Mission, M H M N. Bandar.

Pakistan side includedSecretary General to thePresident M Salman Farooqui,Minister of State for ForeignAffairs Hina Rabbani Khar,Foreign Secretary SalmanBashir, Chairman Board ofInvestment Salim HMandviwala and other seniorofficials besides spokesperson tothe President Farhatullah Babar.

Pak-Sri Lankan bilateral rela-tions, mutual cooperation withspecial reference to that oftrade and other related matterswere discussed during themeeting.

Progress on the proposed cur-rency swap agreement for pro-moting and facilitating mutual

trade also came under discus-sion.

The President said that byincreasing the synergies of Pak-Sri Lanka economies and rein-forcing institutional frameworkfor economic cooperation, themutual trade volume can besignificantly increased by thetwo countries.

Prof G L Peiris thanked thePresident for meeting andhoped that the mutual coopera-tion and bilateral relationswould be further strengthenedwith each passing day.

Earlier Prime Minister SyedYousuf Raza Gilani while talk-ing to Sri Lankan foreign min-ister said that Pakistan and SriLanka are two important coun-tries of South Asia and lookforward to further strengthen-ing their multifaceted relations.

The Prime Minister encour-aged Sri Lanka to move for-ward on negotiations withPakistan on ComprehensiveEconomic PartnershipAgreement (CEPA) and wel-comed a meeting in this contextbetween the two countries inAugust in Colombo.

The Prime Ministerexpressed satisfaction at theresolve of both Pakistan andIndia to continue with theirbilateral dialogue, and not getdeterred by terrorists' designs toderail the dialogue once again.

He said that Pakistan stronglycondemned the recent terroristattack in Mumbai.

The Prime Minister placedgreat emphasis on peace in theregion and said that Pakistanwanted to maintain friendlyrelations with all its neighboursincluding India, Iran andAfghanistan. He stated that sta-bility in Afghanistan was mostimportant.

He said that Pakistan support-ed an Afghan-led and Afghan-owned process of reconciliationin their country. He said thatPakistan looked forward toreceiving the President of SriLanka Mahindra Rajapakse inNovember this year.

He emphasized that the twocountries should cooperate witheach other in the fields of edu-cation, particularly training ofnurses and teachers.

He said that collaborationbetween them in such sectors ascement, sugar, pharmaceuticalsand gems and jewellery wouldadd a deeper dimension to theirrelationship.

Prime Minister Gilani alsooffered to assist Sri Lanka inthe preparations for hosting theAsian Games.

The Foreign Minister of SriLanka, briefed the PrimeMinister on his country's cam-paign against terrorism duringthe last 30 years and the currentprocess of reconciliation,revival of leadership, recon-struction of infrastructure as SriLanka's priorities after its suc-cess in rooting out terrorismfrom their country. - Agencies

Fortified economicrelations with

SLanka stressed

SLankan FM meets President, PM

ISLAMABAD/KARACHI:The Foreign Office said onFriday that the United Statescut of $500 million in aid toPakistan was in response to thecutback in the number of UStrainers in Pakistan, a privatenews channel reported.

The Minister of State forForeign Affairs Hina RabbaniKhar briefed the SenateStanding Committee onForeign Affairs on the latestdevelopments in the global andregional arena and Pakistan'spolitical and diplomaticengagements.

Committee directed that con-trol of Shamsi airbase be takenover from US immediatelyadding US is using this basepresently and India can also useit in coming days to serve itsinterests

Committee met here Fridayin Parliament House under itsChairman Senator SalimSaifullah. The Committeeunderscored the importance ofmaintaining good relations withthe United States which shouldbe on mutual respect and mutu-al interest.

In this context, theCommittee affirmed the impor-tance of safeguardingPakistan's sovereignty, inde-pendence and territorial integri-ty and rejecting any tendencyor approach that compromisesnational honour and dignity.

The Committee also recom-mended that the visa policywith regard to ForeignMissions in Pakistan be madethe sole responsibility of the

Ministry of Foreign Affairs toensure a transparent mecha-nism protecting Pakistan'snational interests.

The Standing Committee alsocalled upon the government toimplement the recommenda-tions of the ParliamentaryCommittee on NationalSecurity and the resolutionunanimously adopted by thejoint sitting of the Parliamentheld on May 13 this year.

The Senate StandingCommittee on Foreign Affairsadopted a resolution affirmingthe importance that Pakistanattaches to an independent for-eign policy in accordance withits national priorities and inter-ests in conformity with theaspirations of the people ofPakistan as expressed in the rel-evant resolutions of the parlia-ment of Pakistan.

It reaffirmed the importanceof pursing policies of nationalself-reliance in all fields,including defence and develop-ment and strongly rejected thenotion of dependency.

The Committee appreciatedgovernment's resolve to moveaway from the concept of "Aidto Trade".

The Senate Foreign RelationsCommittee noted with satisfac-tion the ongoing efforts ofPakistan to improve relationswith Afghanistan and to pro-mote reconciliation and peaceprocess there.

The Committee emphasizedthe importance of stability,peace and development inAfghanistan and support for the

ongoing efforts of the Afghangovernment to promote anAfghan-owned and Afghan-ledprocess of national reconcilia-tion.

It noted with satisfaction theresumption of the dialogueprocess with India and empha-sized the need that it should becarry forward on the basis ofsovereign equality, mutualrespect and mutual interestsleading to concrete results.

The Committee also attachesimportance to the forthcomingPakistan-India MinisterialMeeting in New Delhi in lastweek of this month.

The Committee called uponthe government to continue itsefforts to promote strategiccooperative partnership withChina and underscored theimportance of building mutual-ly beneficial and enduringbonds of partnership with allother members of the interna-tional community especiallywith close neighbours like Iran,the Gulf Cooperation Councilmember states, Russia andCentral Asian Republics.

The Senate Foreign RelationsCommittee also underscoredthe importance of Pakistan'smembership of the ShanghaiCooperation Organization(SCO) and Pakistan's earlyadmission into SCO.

The Committee called uponthe government to provide ade-quate resources to the foreignministry to enable it to optimal-ly perform its functions and toexpand its coverage in Africaand Latin America. - Agencies

US stopped military aid

on trainers cut

Senate panel told

TFD Report

KARACHI: A proposal tooffer three per cent researchand development (R&D) pay-ment to all non-textile sectorsor selected markets on uni-formed basis is under consider-ation of the government whichwould soon be incorporated in

Trade Policy 2011-12 after duedeliberations with all stake-holders.

According to internal sourcesof Ministry of Commerce, thesuggestion to increase subsidyup to $150 to trade delegateshas also been approved whichearlier was put up by leadingtrade bodies of the country as

$300 per day. It reflects that Ministry of

Commerce in consultation withNational Tariff Commission isperusing to develop a mecha-nism under which ExportDevelopment Fund surchargewill directly be credited in theMoC account after fulfillingcodal formalities.

Govt mulls 3pc uniform R&D

Trade Policy 2011-12

WASHINGTON: Denyingthat the relationship betweenthe US and Pakistan has deteri-orated, Islamabad's top envoyin Washington has said thatboth the countries need eachother and share multidimen-sional ties.

According to PTI, "Not atall," Pakistan's Ambassador toUS Husain Haqqani said whenasked if the relationshipbetween US and Islamabad hasdeteriorated."Pakistan and theUnited States have a complex,multidimensional relationship.Both countries need each other.Occasionally there are differ-ences between the best ofallies," he said during an inter-view with National PublicRadio (NPR).

"We've seen that through his-tory: France and the UnitedStates had problems; Britain

and the United States did notalways agree on the conduct ofthe Second World War," heargued."I think what we see isbasically a difficult, complexrelationship playing out in anage of media glare. But whatcomes in the media glare is notalways what happens in privatebetween us as allies," he added.

Responding to questionsabout US withholding militaryaid to Pakistan, Haqqani said"what has been withheld ordelayed is coalition supportpayments and is not aid."

"They are reimbursement forPakistan's expenditure in thecourse of action against terror-ists. And these payments havenot actually come throughsince December 2010," he said.

The United States has beenrelatively slow in reimbursingPakistan. We will take it up

with them, have taken it upwith them, and we hope that itwill clear up over time, said thePakistan's Ambassador.

"Pakistan and the UnitedStates have been allies for along time. Where we havealways disagreed is that theAmerican timelines for specif-ic actions are not necessarilythe same as Pakistani time-lines," he said.

"We have to take intoaccount a lot of ground reali-ties. We have to take intoaccount how our public feels,"he said. The fundamental factis that the will and the inten-tion to eliminate terrorismfrom Pakistan is shared bothby Islamabad and Washington,he said."Terrorists are as muchPakistan's enemies as they areof the US," Haqqani said. -Online

Haqqani says US, Pakshare multi-facet links

NEW DELHI: The US Fridayexpressed its inability to giveIndia access to 2008 Mumbaiterror attack accused PakistaniCanadian Tahawwur Rana andDavid Coleman Headley, say-ing it was restricted by theongoing judicial processregarding the two.

UNI reports, "US inclinationis to accommodate the Indianrequest, but the court processmakes it complex," US ChargeD'Affairs Peter Burleigh saidtalking to reporters. He wasasked whether the US would

give India access to Lashkaroperative Headley and his co-accused Rana as it had offeredthe country all help in nailingdown the culprits of the 2008Mumbai terror attack.

Burleigh said his countrywas doing all to assist India inthe 2008 attack case but giv-ing access to the accusedundergoing trial in his countrywas not so easy as it was not amatter just between two gov-ernments. "We have a contin-uing judicial process," hesaid. The US envoy also

refused any comment on iden-tities of agencies involved inmost recent Mumbai terrorattacks.

"We don't want to make anyassumptions. We would analysethe information the Indianauthorities would be releasing,"he said.

When asked whether the USshared any intelligence inputregarding last evening'sMumbai blasts, Burleigh saidhis country always shares infor-mation with India whenever ithas. - Online

US denies access to 26/11 suspects

KABUL: The first US troopshave left Afghanistan as part ofPresident Barrack Obama'splanned drawdown of about athird of the 100,000 US forcesthere during the next year.

Facing growing politicalopposition to the nearlydecade-old war, Obamaannounced in June the with-drawal plan, which was a fastertimetable than the military hadrecommended.

The first 10,000 troops willcome home by the end of theyear, but Obama left the detailsup to his commanders.

US Lt Col Wayne Perry, aspokesman for the Nato-ledInternational SecurityAssistance Force (ISAF), saidabout 650 troops who had com-pleted their rotation inAfghanistan left on Wednesday

as scheduled, and would not bereplaced.

"As part of the drawdown thefirst US troops have leftAfghanistan," he said.

The units that left were theArmy National Guard's 1stSquadron, 134th CavalryRegiment, based in Kabul,and the Army NationalGuard's 1st Squadron, 113thCavalry Regiment, which hadbeen in neighboring Parwanprovince.

Afghan security forces are totake over security responsibili-ty from foreign forces in sevenareas of the country this sum-mer. Afghan forces will thentake the lead in securing theentire country by the end of2014.

Critics have said Obama'sdecision to bring troops home

from Afghanistan faster thanthe military recommendedcould jeopardize the next majorpush of the war, to unseat insur-gents in the east.

The drawdown comes amidintense fighting in Afghanistan,where more than 1,500 USforces have been killed sincethe war began.

Although extra US troopsordered into southernAfghanistan have made securi-ty gains there, the situation inthe east of the country border-ing Pakistan has deteriorated.

Late last month, insurgentsstaged a brazen raid on theKabul Intercontinental hotel,killing 12 people and raisingfresh questions about whetherAfghan forces are ready toassume responsibilities as USforces pull out. - Reuters

America’s return fromAfghanistan begins

Mumbai

blasts may

have hit

costly

diamondsMUMBAI: One of this week'sdeadly Mumbai blasts scattereddiamonds, possibly worth mil-lions of dollars, onto the streetbut has not convinced traders toabandon their hub in the heartof the city for a purpose-builtdiamond bourse in the suburbs.

About 60 per cent of theworld's diamond processingpasses through the OperaHouse area in south Mumbai,site of the most powerful of thethree coordinated blasts, whichkilled 18 people and injured133 others.

Generations of merchants,mostly from the Gujarati com-munity that also dominatesMumbai stockbrokerage, havedeveloped a unique culture ofsecurity over the years, usingthe area's dense crowds to theiradvantage.

"Diamonds move from officeto office unseen. People carry-ing them are not identified andthere is security in theanonymity," said Rajiv Popley,director of Popley Group,which has a store in the mainbuilding and a retail network inIndia and Dubai.

Traders carry the diamonds intheir pockets, often rolled intissue paper. They dress casual-ly, blending with the thousands

See # 1 Page 7

Senate

body defers

perusal

of OGDC

Bill 2009ISLAMABAD: A meeting ofthe Standing Committee onCabinet was held on Friday inParliament House to considerOil and Gas RegulatoryAuthority (Amendment) Bill2009 and the regulation ofGeneration Transmission andDistribution of Electric Power(Amendment) Bill 2009.

The Committee meeting,chaired by Dewan AshiqBukhari MNA, took notice ofthe absence of the movers ofthe aforementioned billsHumayun Saifullah and othersand unanimously decided topostpone the perusal till thearrival of the movers (of thebills) from abroad.

Additional Secretary CabinetDivision requested that boththe bills be deferred for thetime being as a committee ofthe Secretary Cabinet Divisionand Secretary EstablishmentDivision is also finalizing rec-ommendations in this regard.

However, Pervaiz Khan,MNA did not agree for post-poning the meeting by awaitingthe recommendations of theCabinet Committee.

MNAs Malik Nawab Waseer,Engineer Muhammad TariqKhattak, Tariq MahmoodBajwa, Asma Arbab Alamgir,Malik Shakir Bashir Awan, DrTariq Fazal Chaudhry, SardarMuhammad Irfan Dogar,Sheikh Salahuddin, PervaizKhan and Parveen Bhatti,attended the meeting. - APP

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