PM Khan performs Umrah on first day of three-day Saudi visit 

Pakistan Prime Minister Imran Khan performed Umrah along with first lady in Makkah, Saudi Arabia, on October 23, 2021. (PM Office)
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Updated 24 October 2021
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PM Khan performs Umrah on first day of three-day Saudi visit 

  • In second trip to kingdom this year, Khan will attend Middle East green summit in Riyadh on Monday
  • Will attend event to promote investment in Pakistan, meet leading Saudi and Pakistani businessmen

ISLAMABAD: Pakistani Prime Minister Imran Khan performed the Umrah pilgrimage with his delegation on the first day of a three-day visit to Saudi Arabia, state-run APP news agency reported on Sunday.

Khan arrived in Saudi Arabia on Saturday on the invitation of Crown Prince Mohammed bin Salman and was received by Deputy Governor of Madina, Prince Saud bin Khalid Al-Faisal, the PM Office said in a Twitter post. This is Khan’s second visit to Saudi Arabia this year. He visited the kingdom last in May and signed several agreements.

“PM performs Umrah; prays for peace, prosperity of Pakistan, Muslim Ummah,” APP said.

Top of the agenda for the prime minister's Saudi visit is attending the inaugural ceremony of the Middle East Green Initiative (MGI) Summit being held in Riyadh on Monday.

“The first of their kind in the Middle East Region, ‘Green Saudi Arabia’ and ‘Green Middle East’ initiatives were launched by the Crown Prince in March 2021 aimed at protecting the nature and planet,” APP said.

At the MGI summit, Khan will speak about challenges faced by developing countries due to climate change and highlight Pakistan’s experience of launching nature-based solutions to address environmental concerns, including the 10 Billion Tree Tsunami tree planation project, a flagship of his government.

“Besides meeting the Saudi leadership, the prime minister will also participate in an event on the promotion of investment in Pakistan and interact with leading investors and businessmen from Saudi Arabia and Pakistani diaspora,” APP said.

On Saturday, the crown prince of Saudi Arabia said the world’s top oil exporter aimed to reach zero-net emissions by 2060 and more than doubled its annual target to reduce carbon emissions to almost 280 million tons.

Crown Prince Mohammed bin Salman was speaking in recorded remarks at the Saudi Green Initiative, which comes ahead of the 26th UN Climate Change Conference of the Parties, or COP26, in Glasgow from Oct. 31 — Nov. 12, that hopes to agree on deeper emissions cuts to tackle global warming.

Riyadh, a signatory to the Paris climate pact, on Saturday set out details of its nationally determined contributions (NDCs) — goals for individual states under global efforts to prevent average global temperatures from rising beyond 1.5 degrees Celsius above pre-industrial levels.

The United States and the EU want Saudi Arabia to join a global initiative on slashing emissions of methane by 30 percent from 2020 levels by 2030.

US climate envoy John Kerry will also attend the wider Middle East green summit Riyadh is hosting on Monday.


Pakistan regulator amends law to facilitate capital raising by listed companies

Updated 19 January 2026
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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.