Ex-PM Khan’s party meets today to finalize date for quitting legislative assemblies

The file photo shows former Prime Minister Imran Khan (center) speaking to Punjab MPAs in Lahore, Pakistan, on September 18, 2022. (@PTIofficial/Twitter)
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Updated 28 November 2022
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Ex-PM Khan’s party meets today to finalize date for quitting legislative assemblies

  • Khan affiliates say the move will leave 64 percent seats in different assemblies vacant
  • But the government of PM Sharif seems unfazed, says polls can’t be held before August

ISLAMABAD: Former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party will meet today to finalize a date for quitting provincial legislatures in the country, a Khan aide said on Monday, after the former premier announced they would not remain part of a “corrupt” political system. 

Khan, who was ousted in a parliamentary no-trust vote in April, has since been agitating against the government of PM Shehbaz Sharif and demanding snap polls, saying his ouster was part of a United States-backed “foreign conspiracy” for pursuing an independent foreign policy. Washington and Khan’s opponents deny the allegation. 

Khan’s announcement to quit assemblies came at a rally in Rawalpindi over the weekend, which followed months of campaigning by the ex-premier to garner public support in favor of his demands. 

Chaudhry Fawad Hussain, a close aide of ex-PM Khan, said on Monday the party had summoned a meeting of its senior members to finalize a date for the dissolution of two provincial legislatures and resigning en masse from two others. 

“The meeting will ponder over a date of dissolution of Punjab and Khyber Pakhtunkhwa assemblies and resigning from Sindh and Balochistan assemblies,” Hussain said on Twitter early Monday. 

“With these decisions, 64 percent of seats in Pakistan will become vacant and the way for general elections will be paved.” 

Khan, who was expected to announce a march on Islamabad for a final showdown with the government, told supporters at Saturday’s rally he had decided to avoid it in order “to circumvent chaos.” 

But his warning to quit assemblies appears to have mounted little to no pressure on the government, which says polls would be held as scheduled in the latter half of 2023. 

Pakistan’s Planning Minister Ahsan Iqbal said on Sunday that even Khan’s party knew that early elections were not possible as the post-flood reconstruction and rehabilitation process in Sindh and Balochistan provinces would take up to eight months. 

“Also, in March or April, the results of the new census will be released. The Sindh government and the province have a clear stance that next elections must be held on the basis of the new census,” he told Pakistan’s Geo News channel Sunday night. 

“So, if the results are out by March or April, then the election commission requires four to five months for new delimitation [of constituencies], so it is extended till August.” 

Khan’s Pakistan Tehreek-e-Insaf (PTI) party has already resigned from the National Assembly, while it rules Punjab and Khyber Pakhtunkhwa together with its allies. 

Also on Sunday, Punjab Chief Minister Pervaiz Elahi said he wouldn’t “wait for a minute” to dissolve the provincial assembly, if Khan asked him to do so. 

According to Pakistan’s constitution, the governor of a province can dissolve its assembly on the advice of its chief minister. 

Iqbal, however, said there was an administrative and a natural timetable of elections that might not change, hinting that polls could be held in October next year. 


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.