KARACHI, Jan 16: The clause 5(3)f of the Offering Document of Unit Trust of Pakistan provides that if on any day during the week the variation of the Net Asset Value (NAV) exceeds two per cent of the NAV, as calculated to determine the current offer and redemption prices, the Management Company shall suspend any issuance or redemption of units and calculate forthwith a new offer price and a new redemption price.

The Management Company announced the offer and redemption prices for the period Jan 13 to 16, 2003 at Rs7,020 and Rs6,882 respectively. On Jan 15 the NAV of units of UTP appreciated by more than 2 per cent. Accordingly, the Management Company announces new offer and redemption prices at Rs7,161 and Rs7,020 respectively, which will be valid for Thursday (Jan 16).

The offer and redemption prices for the following week commencing Jan 20 will be announced on Saturday, says a press release.