At the end of June 2001, News-Prime Bank Composite Index of VIS posted a loss of 1.21 per cent or 44.49 points when it dipped to 3,635.46 points from its end-May close of 3,679.95 points. During the June 2001, the index managed to peak at 3,711.04 points which was on the 4th of June. On the other hand it dipped as low as 3,629.23 points on the 26th of the month.

Economic Horizon:
Pakistan Perspective
MOVING ON THE RIGHT TRACK  
One praiseworthy feature of the budget is a significant step-up in Public Sector Development Programme (PSDP) to PRs. 130.0 billion as compared to PRs. 102.1 billion in the revised estimates for 2000-2001, an increase of 27.3 per cent. The share of federal ministries/divisions in PSDP is at PRs. 53.2 billion while that of corporations has been budgeted at PRs. 26.7 billion.

IN FOCUS
Poultry industry in doldrums
At the advent of Pakistan, like many other's industries, poultry industry having altogether a rural basis, had no important place in the country's economy. It was after about a decade or so that some efforts were made to transform it from a small rural pursuit into a commercial venture.

HOUSEHOLD INFLATION
NEWS - CresBank HOUSEHOLD INFLATION INDEX  
MAINTAINING A STEADY LEVEL  
During June 2001, there was no notable change in the overall prices of the items that compose News-CresBank Household Inflation Index (HII). HII posted a negligible decline of 0.05 per cent during June 2001.

SPOTLIGHT
Market and its temptation
The market in abstract seems very attractive. All the benefits that accrue from it seem from the outside child's play. If played well it gives you a considerable amount of returns, monetary returns. I am also used to saying that USA is the place where a kind of capitalism is successful.

Rating Round up
Publicly notified Ratings by JCR-VIS Credit Rating Company*  

STOCK MARKET CONFIDENCE
News-Cres Bank 
Confidence Barometer - June 2001
There was a visible increment in the investors' confidence that prevailed in the local bourses through the month of June 20001. This was estimated with the help of News-CresBank Confidence Barometer of VIS which depicted investors' confidence at 40 per cent ('very low to low' category) on an aggregate basis. It is somewhat heartening to note that the confidence level has entered a higher category after hovering in the lowest possible category during May. A week-to-week analysis exhibits that the barometer topped as high as 60 per cent in the 'moderate to high' category which was in the second week of the month. On the other hand it only dipped as low as 32 per cent managing to buoy above the 'very low' category.
News-CresBank Confidence Barometer is a unique instrument that expresses in percentage the level of investors' confidence prevailing at the Karachi Stock Exchange taking into account each and every share transaction. The model electronically tracks the number of shares traded (adjusted for free float) at the KSE along with their respective prices, to find out the exact movement of investors' money. The investors place their funds world wide in other than safe-haven stocks when they are confident of the prevailing economic and political situation. On the other hand, when they are not so confident of the economic and political developments, they transfer their funds from those comparatively risky items to the safe-havens. 

CORPORATE CORNER

• Honda Atlas Cars (Pakistan) Limited
• Pak Suzuki  
  Motor Co. Limited