US congressman expresses concern over Pakistan’s handling of ex-PM Khan’s party

The file photo shows US Congressman Sherman chairing a hearing of a subcommittee in United States on July 20, 2022. (US Congressman Sherman/website)
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Updated 12 April 2023
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US congressman expresses concern over Pakistan’s handling of ex-PM Khan’s party

  • Brad Sherman writes letter to Secretary Antony Blinken, raises concern over ‘closing space for free speech’ in Pakistan
  • The letter was written after the US congressman had a phone conversation with the former Pakistani prime minister

ISLAMABAD: An American congressman on Tuesday raised concern over Pakistan’s handling of former prime minister Imran Khan’s political party in a letter to US Secretary of State Antony Blinken, saying that the frequent detention of opposition politicians was “closing space for free speech” in the South Asian country.

The government cracked down against Khan and his Pakistan Tehreek-e-Insaf (PTI) in recent months after the former premier started agitating for fresh national elections since his ouster from power in a parliamentary no-confidence vote last April.

Some of Khan’s closest aides, including his former chief of staff Shahbaz Gill and senior PTI vice president Chaudhry Fawad Hussain, have since been arrested and released in recent months amid allegations of custodial torture. The former prime minister himself has been facing a slew of cases and has taken protective bail to avoid arrest.

In his letter to Secretary Blinken, Congressman Brad Sherman said the human rights of the Pakistani people were at stake.

“I am particularly alarmed by incidents over the last year, especially the alleged torture and even sexual abuse of political figures such as former PM Khan’s Chief of Staff Shahbaz Gill and journalist Jameel Farooqui,” he said. “Thankfully, they both were released, but the chilling effect of their detention and treatment continues to resonate.”

“Equally concerning are the multiple cases against Mr. Khan, the use of force against his supporters, the detention of protesters under sweeping counter-terrorism laws, and the closing space for free speech,” he continued.

Sherman, who wrote the letter after a telephone conversation with the ex-PM, also raised concern over suspension of broadcast by private news channels.

He also mentioned a recent statement by interior minister Rana Sanaullah wherein he said that Khan would be eliminated from the political arena.

The US congressman maintained the Pakistani authorities were trying to delay elections in Punjab and Khyber Pakhtunkhwa provinces while describing it as “another sign of skirting democratic processes.”

So far, the Pakistan government has not issued any statement in response to the letter.

According to recent media reports, Khan, who previously blamed the administration in Washington for his ouster, engaged lobbyists in the United States in recent months to create a more favorable perception about him within the US government and policy circles.


Pakistan regulator amends law to facilitate capital raising by listed companies

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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.