ISLAMABAD: Pakistan’s information minister Marriyum Aurangzeb dismissed rumors related to the imposition of emergency in the country on Friday, reported the state media, as people speculated the government could take the decision following the release of ex-premier Imran Khan who was arrested earlier this week on corruption charges.
The country’s top court on Thursday declared Khan’s arrest from the Islamabad High Court (IHC) illegal before he managed to secure a two-week bail from the judiciary that ordered the authorities not to arrest him in any other case until May 17.
“Minister for Information and Broadcasting Marriyum Aurangzeb has termed media reports regarding the imposition of emergency in the country as baseless,” Radio Pakistan reported. “She said no decision regarding the imposition of emergency was taken in today’s cabinet meeting.”
Pakistan’s federal cabinet reviewed the country’s overall political situation on Friday, condemning the Supreme Court’s decision to give relief to the former prime minister who was facing serious corruption allegations.
It also pointed out that Khan’s followers had indulged in violent protests, clashes with law enforcement personnel and set fire to government buildings and public property.
The information minister also urged media organizations to refrain from carrying news stories without verification.
Government dismisses rumors of emergency in Pakistan as ‘baseless’
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Government dismisses rumors of emergency in Pakistan as ‘baseless’
- Pakistan witnessed political turmoil and violent protests following the arrest of ex-PM Khan this week
- Marriyum Aurangzeb urges media organizations to refrain from carrying news reports without verification
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.
