ISLAMABAD: A team of medical professionals belonging to King Salman Humanitarian Aid and Relief Center (KSRelief) met a group of Pakistani doctors and relevant officials in Islamabad on Tuesday to plan a series of open-heart surgeries to benefit ailing children whose parents cannot afford expensive medical procedures.
According to some estimates, over 60,000 children in Pakistan are born with congenital heart disease annually which requires them to undergo surgeries. According to the Associated Press of Pakistan, the KSRelief medical team will also perform cardiac catheterization to treat various cardiovascular conditions.
Last month, the Saudi humanitarian organization launched a major campaign in Pakistan’s southern Sindh province to combat blindness by conducting 4,000 examinations and 400 surgeries only in Karachi.
Pakistan is the fifth largest recipient of humanitarian and development aid offered from the Saudi organization that has given more than $120.2 million since 2015.
KSRelief has also helped the people of Pakistan in the wake of natural catastrophes like earthquakes and floods, apart from denoting food items to help the destitute during the Muslim fasting month of Ramadan.
Tuesday’s coordination meeting was attended by Saudi Ambassador Nawaf Bin Said Al-Malki as well.
KSRelief medical team to perform open-heart surgeries in Pakistan
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KSRelief medical team to perform open-heart surgeries in Pakistan
- Pakistan is the fifth largest recipient of humanitarian and development aid offered by the Saudi agency
- KSRelief has also helped Pakistan in the wake of natural catastrophes like earthquakes and floods
Pakistan regulator amends law to facilitate capital raising by listed companies
- The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
- Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,
The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.
This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.
“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.
The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.
The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.
“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.
“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”
The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.
