CAPITAL MARKET

HIGHLIGHTS
INDICES OF SHARE PRICE (2000-01 = 100), (KARACHI STOCK EXCHANGE)
Group
Cotton & Other Textiles
Chemicals & Pharmaceuticals
Engineering
Auto & Allied
Cables and Electrical Goods
Sugar and Allied
Paper and Board
Cement
Fuel and Energy
Transport & Communication
Banks, Insurance and Finance
Miscellaneous
General Index Number

End June (2006)

234.8
342.3
783.6
783.9
541.6
459.6
288.9
708.9
343.1
513.8
445.9
410.7
427.0

End June (2007)

227.4
407.1
1173.5
1016.5
640.0
473.4
369.0
787.0
374.7
740.0
628.2
441.4
547.5

Aggregate Market Capitalization

30th June 2006
30th June 2007
Percentage Change

(Rs. Billion)
2766.4
3980.8
43.9

Net Accrual of National Savings Schemes

2005-06
2006-07

(Rs. Billion)
8.83
67.65

TABLE 6.1
SECTORAL INDICES OF SHARE PRICES (2000-01 = 100)
End June
1
2
3
4
5
6
7
8
9
10

Cotton and Other Textiles

Pharmaceuticals & Chemicals
Engineering
Auto & Allied
Cables and Electric Goods
Sugar and Allied
Paper and Board
Cement
Fuel and Energy
Transport and
Communications
11 Banks and Other
Financial Institutions
12 Miscellaneous Sectors
General Index of Share Prices
Change (%)

(Indices)

2000

2001

2002

2003

2004

2005

2006

2007

93.62
213.23
116.99
128.25
123.42
69.50
125.40
106.22
217.55

89.31
203.68
113.34
123.63
116.96
84.45
114.27
87.17
190.75

113.45
129.59
130.31
140.52
118.22
103.62
126.99
110.05
100.23

163.80
207.31
248.91
362.53
209.60
181.84
229.46
217.65
194.84

260.06
343.30
440.56
580.95
369.92
381.81
286.56
468.26
242.71

252.29
282.59
573.67
570.24
319.95
336.12
276.72
393.74
341.42

234.82
342.30
783.61
783.94
541.62
459.64
288.93
708.89
343.08

227.40
407.14
1173.47
1016.55
640.04
473.36
369.00
787.00
374.69

68.59

53.04

94.17

199.99

355.96

520.61

513.83

739.98

84.51
217.88
128.83
22.40

77.56
243.08
118.72
(7.85)

102.72
122.19
106.74 *
6.74 *

217.29
223.20
204.10
91.20

364.95
333.29
323.30
58.40

321.59
445.90
628.21
349.59
410.68
441.36
362.76
427.01
547.47
12.21
17.71
28.21
Source: State Bank of Pakistan

Figures in the parentheses represent negative sign.

* Base of share index has been changed from 1990-91 to 2000-01 - and as per old base (90-91) the general index of share price
has increased by 6.74% during 2001-02.

TABLE 6.2
MARKET CAPITALIZATION OF ORDINARY SHARES
End June
1
2
3
4
5
6
7
8
9
10
11

2000

2001

Cotton and Other Textiles

43.78
38.40
Pharmaceuticals
56.05
47.97
Engineering
1.53
1.52
Auto & Allied
8.02
7.93
Cables and Electric Goods
2.10
2.12
Sugar and Allied
3.83
4.53
Paper and Board
3.94
4.54
Cement
10.21
10.21
Fuel and Energy
87.45
79.68
Transport and Communications
106.17
70.77
Banks and Other
Financial Institutions
36.10
38.38
12 Miscellaneous Sectors
32.69
33.20
Aggregate Market
Capitalization
391.86
339.25
Change (%)
36.91
(13.42)
- Figure in the parentheses represent negative signs

(Rs billion)

2002

2003

2004

2005

2006

2007

41.09
50.75
2.06
10.19
2.36
4.52
6.54
15.76
104.48
70.09

65.68
108.20
4.30
30.55
4.45
7.22
12.00
33.54
191.54
123.29

90.85
162.58
6.93
39.17
7.08
11.41
16.52
68.82
505.87
196.97

103.09
171.73
9.29
40.68
9.05
12.63
16.80
68.58
900.63
291.39

98.72
221.90
11.32
70.58
18.62
17.30
21.78
133.12
1081.48
209.46

136.24
273.77
18.78
102.50
25.31
19.42
32.31
165.63
1096.78
284.45

55.01
44.79

99.67
65.99

195.98
100.58

301.64
111.14

714.83
167.29

1553.48
272.13

407.64
20.16

746.43
83.10

1402.75
87.93

2036.65 2766.41 3980.78

45.19
35.83
43.90
Source: State Bank of Pakistan

TABLE 6.3
NUMBER OF LISTED COMPANIES, FUND MOBILISED AND TOTAL TURNOVER OF SHARES IN VARIOUS STOCK
EXCHANGES
1998-99
KARACHI STOCK EXCHANGE
i) Total Listed Companies
ii) New Companies Listed
iii) Fund Mobilized
(Rs billion)
iv) Total Turnover of Shares
(In billion)
LAHORE STOCK EXCHANGE
i) Total Listed Companies
ii) New Companies Listed
ii) Fund Mobilized
(Rs billion)
iv) Total Turnover of Shares
(In billion)
ISLAMABAD STOCK EXCHANGE a
i) Total Listed Companies
ii) New Companies Listed
ii) Fund Mobilized
(Rs billion)
iv) Total Turnover of Shares
(In billion)
- Nil

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

762
1

747
4

712
4

702
2

668
16

659
15

658
14

658
12

1.6

0.4

3.6

15.2

23.8

4.2

54.0

41.4

49.7

25.5

48.1

29.2

29.1

53.1

97.0

88.3

104.7

68.8

614
3

581
3

561
2

647
18

524
5

518
6

520
8

0.4

2.5

14.2

4.1

3.1

42.1

24.5

38.8

9.8

1.6

7.8

18.3

28.2

19.9

17.5

15.0

8.3

765
-

2006-07

281
5

267
3

260
1

251
8

232
5

240
2

246
7

5.0

0.8

3.7

11.5

2.6

27.6

5.2

30.7

3.3

3.1

1.4

2.7

2.1

1.4

0.7
0.4
0.3
Source: SECP, KSE, LSE, ISE.

TABLE 6.4
NATIONAL SAVING SCHEMES (NET INVESTMENT)
(Rs. Million)
Name of Scheme

1998-99

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Defence Savings Certificates

38,349.8
National Deposit Scheme
(52.4)
Khaas Deposit Scheme
(20.5)
Premium Savings Scheme
Special Savings Certificates (R) 24,956.7
(883.0)
Special Savings Certificates (B)
Regular Income Certificates
59,099.4
Pensioners' Benefit Account
Savings Accounts
2,296.6
Special Savings Accounts
5,879.9
Bahbood Saving Certificates
Mahana Amdani Accounts
16.5
Prize Bonds
10,125.7
Postal Life Insurance
2,548.1
Grand Total
142,241.2
Figures in Parenthesis represent negative signs

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

41,212.3
(17.2)
(52.9)
19,395.8
(507.3)
26,111.6
(196.7)
5,450.9
13.8
(32.3)
4,131.0
95,508.9

16,580.3
(21.5)
(51.1)
9,431.1
196.3
8,643.2
(2,105.0)
3,626.5
52.8
10,390.6
4,377.4
51,120.5

22,037.3
(6.3)
(12.1)
36,443.2
(203.3)
11,046.3
(329.8)
4,266.9
92.8
11,588.0
6,448.3
91,371.3

21,990.5
(5.7)
(13.5)
84,899.1
(11.1)
(14,923.9)
10,170.0
1,638.1
5,135.0
129.5
26,840.1
7,367.7
143,215.8

3,238.3
(6.8)
(23.4)
(13,199.3)
(2.6)
(49,090.5)
13,209.3
(729.6)
2,894.1
22,691.0
120.9
22,841.9
8,668.7
10,612.0

(8,759.1)
(7,551.0)
(5,800.4)
(1.3)
(2.5)
(1.0)
(5.4)
(2.8)
(5.4)
(83,311.9) (57,737.1)
6,965.8
(4.6)
(0.6)
(0.11)
(40,663.0) (15,563.9) (16,991.8)
17,737.2
16,382.9
11,468.6
(2,891.4)
202.7
9,233.0
(19,048.0)
(709.6)
6,508.3
60,654.6
59,636.6
47,214.5
85.9
45.7
42.6
9,357.0
3,325.8
9,007.3
10,335.2
10,804.5
(39,371.6)
8,830.7
67,651.4
Source : Directorate of NSS

Table 6.5
LOANS DISBURSED BY DFIs AND OTHER FINANCIAL INSTITUTIONS
(Rs. Billion)
Name of Institutions
1. DFIs
2. Special Banks
3. Islamic Banks
4. Khushadi Bank
5. Micro Credit Bank
6. Leasing Companies
7. Investment Banks
8. Modarabas
9. Housing Finance
10. Discount Houses
* July-December 2005-06
** July-March 2006.-07

2001-02
2.9
11.3
2.5
0.2
0.0
15.9
4.4
4.8
0.1
0.1

2002-03
8.7
25.2
11.1
1.6
0.1
16.0
7.6
6.1
0.8
0.2

2003-04

2004-05

13.1
38.8
17.9
1.3
0.3
18.6
7.5
6.5
2.4
2.7

24.7
47.0
43.4
2.3
0.5
16.5
7.4
7.3
0.3
2.6

2005-06

2006-07

10.6*
23.1*
24.4*
2.92
2.34 **
0.94
1.88 **
29.1
22.85
10.4
5.90
9.6
9.75
0.4
0.10
1.3
1.00
Source: SBP & SECP.

2005-06

2006-07

TABLE 6.6
MARK UP RATE/PROFIT RATE ON DEBT INSTRUMENTS CURRENTLY AVAILABLE IN THE MARKET
S.No. Schemes

Markup/Profit Rate

Maturity Period

Tax Status

1. Foreign Exchange Bearer Certificate (FEBC)

a. If Certificate of Rs 1000 encashed before 1 year investor will get Rs 1000 (face value)
b. If Certificate of Rs 1000 encashed after 1 year investor will get Rs 1145
c. If Certificate of Rs 1000 encashed after 2 year investor will get Rs 1310
Sale under this scheme has
d. If Certificate of Rs 1000 encashed after 3 year investor will get Rs 1520
already been discontinued, from
e. If Certificate of Rs 1000 encashed after 4 year investor will get Rs 1740
December 1999 however, on
f. If Certificate of Rs 1000 encashed after 5 year investor will get Rs 1990
outstanding balance till maturity,
rate will be applicable
g. If Certificate of Rs 1000 encashed after 6 year investor will get Rs 2310
2. Foreign Currency Bearer Certificate
(FCBC), 5 years

Scheme has already been discontinued w.e.f. February 1999. Only

repayment is made

3. Special US$ Bonds

a) 3 year maturity
b) 5 year maturity
c) 7 year maturity

LIBOR+1.00%
LIBOR+1.50%
LIBOR+2.00%

4. Pakistan Investment Bonds

Tenor
3-Year Maturity
5-Year Maturity
10-Year Maturity
15-Year Maturity
20-Year Maturity

Rate of Profit
9.10% p.a
9.30% p.a
9.60% p.a
9.0% p.a
10.0% p.a

These coupon rates will effective from May 19, 2006 for
PIBs of 3.5 10 years maturity while PIBS of 15 and 20
years maturity launched on Jan 20,2004 the respective
coupon rates will effective since then

5. Unfunded Debt
Defence Saving Certificates

10.15% p.a (m)

10 Years

13.00% p.a.
9.34% p.a.

7 Years
3 Years

12.36% p.a.(m)
9.54% p.a
13.42% p.a.
10.41% p.a.(m)
6.50% p.a.
11.64% p.a.
11.64% p.a.
6.50% p.a.

3 Years
5 Years
3 Years
7 Years
Running Account

National Deposits Schemes

Special Saving Certificates (R)

Special Saving Certificates (B)

Regular Income Certificates
Khas Deposit Scheme
Mahana Amdani Accounts
Saving Accounts
Bahbood Savings Certificate
Pensioners' Benefit Account
Prize Bonds
p.a. Per annum
B Bearer
R Registered
m on maturity

The rates are effective form Sept. 1999. If bonds are

encashed before one year no profit will be paid. Profit is
payable @ LIBOR + 2 on bonds investment for 3 or 7
years.

10 Years

Taxable for deposits exceeding Rs.150,000

made on or after 01-07-2002
Taxable and discontinued
Taxable for deposits exceeding Rs.150,000
made on or after 01-07-2002
Taxable and discontinued
Taxable
Taxable and discontinued
Taxable on installment exceeding Rs.1000.
Taxable for deposits exceeding Rs.150,000
made on or after 01-07-2002
Taxable for deposits exceeding Rs 150,000

Source: SBP and Directorate of National Savings