National Assembly amends election law to prevent overseas Pakistanis from voting

Pakistan Prime Minister Shehbaz Sharif speaks during a parliament session at the National Assembly in Islamabad on May 26, 2022. (Photo courtesy: @NAofPakistan/Twitter)
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Updated 26 May 2022
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National Assembly amends election law to prevent overseas Pakistanis from voting

  • Ex-PM Khan has called for fresh elections while the ruling coalition says it will first make electoral reforms
  • The amended election bill also plans to revoke use of electronic voting machines introduced by Khan’s administration

ISLAMABAD: The National Assembly of Pakistan on Thursday passed the Election Amendment Bill, 2022, to revoke the voting rights for overseas Pakistanis and prevent the use of electronic voting machines (EVMs) in general elections.

Pakistan’s ousted prime minister Imran Khan sanctioned the use of EVMs for the next polls in a joint parliamentary sitting in February, though the opposition factions, which are now in government, resisted the move and vowed to challenge it in the country’s top court.

Khan also wanted overseas Pakistanis to vote in future elections, saying that they made major contributions to the country’s economy by sending remittances. The former prime minister is also said to have a massive following among the Pakistani diaspora.

The election amendment bill, which was tabled by parliamentary affairs minister Murtaza Javed Abbasi, was passed with majority and sent to the Senate for approval.

“Overseas Pakistanis are precious asset of the country and the government does not believe in snatching their right to vote,” law minister Azam Nazeer Tarar was quoted by Radio Pakistan in the context of pilot testing of new forms of voting system.

Responding to the development, Pakistan's former information minister Chaudhry Fawad Hussain said on Twitter the parliamentary proceedings reflected the government's priorities.

"Overseas Pakistanis have been deprived of their right to vote," he wrote, adding the new government's agenda was "to bring back old Pakistan in its worst form."

Ex-PM Khan said earlier this year he wanted to make future elections more transparent by introducing technology, through his political rivals accused him of trying to manipulate voting process to his party’s advantage through EVMs that had never been tested in Pakistan.

Tarar noted the Election Commission of Pakistan (ECP) was also opposed to the introduction of EVMs since their potential of misuse and tampering was too high.

Khan, who was ousted from power in April after losing his parliamentary majority, has been seeking fresh elections in the country.

Pakistan’s new coalition government has said the government will only go to polls after introducing electoral reforms.


Pakistan capital market transitions to T+1 settlement cycle ahead of multiple advanced markets

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Pakistan capital market transitions to T+1 settlement cycle ahead of multiple advanced markets

  • A T+1 settlement cycle means that securities transactions are finalized and settled one business day after trade date
  • Effective from Feb. 9, all eligible trades at the PSX are now settled on a T+1 basis, replacing the previous T+2 cycle

KARACHI: Pakistan’s capital market has officially transitioned to the Trade plus one (T+1) settlement cycle, a landmark reform that strengthens efficiency, reduces risk and aligns the country with international best practices, the Pakistan Stock Exchange (PSX) said on Tuesday.

A T+1 settlement cycle means that securities transactions are finalized and settled one business day after the trade date, which reduces counterparty risk and improves capital efficiency in the exchange of funds and securities. 

Effective from Feb. 9, all eligible trades at the PSX are now settled on a T+1 basis, replacing the previous T+2 cycle. The transition was implemented under the guidance of the Securities and Exchange Commission of Pakistan (SECP) through close collaboration among all stakeholders, according to the PSX.

It aligns Pakistan’s capital market with leading markets such as the United States, Canada, Mexico, Argentina, Jamaica and China, which have already adopted shorter settlement cycles. Europe, the UK and Switzerland are set to follow by 2027. By moving early, Pakistan has demonstrated its commitment to modernization and investor protection.

“The transition to the T+1 settlement cycle brings important advantages for Pakistan’s capital market. It enables faster access to funds and securities, improving liquidity, while reducing settlement and counterparty risk through shorter exposure periods,” the PSX said.

“Quicker trade finalization enhances efficiency and the reform strengthens investor confidence, particularly among institutional and foreign investors. Together, these benefits support a stronger and more resilient market aligned with global best practices.”

Pakistan’s stock market has touched historic highs in recent months as broad institutional buying boosted investor confidence amid ongoing economic reforms under international lending programs. Pakistani state media reported in Jan. around 135,000 new investors had joined the PSX over the last 18 months.

SECP Chairman Dr. Kabir Ahmed Sidhu commended the PSX, the Central Depository Company and the National Clearing Company of Pakistan for the successful implementation of the T+1 settlement system.

“The reform brings Pakistan’s capital market at par with modern jurisdictions by accelerating trade settlement, reducing counterparty and market risks, and enhancing liquidity,” he was quoted as saying by the PSX.

“The adoption of T+1 will strengthen investor confidence and align Pakistan’s capital market with evolving international standards and global best practices.”