Pakistani military says nine attackers killed after assault on airbase

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In this file photo, taken on December 22, 2014, a Pakistani soldier stands guard at a checkpost near the Kot Lakhpat Jail on the outskirts of Lahore. (AFP/File)
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This satellite image from Planet Labs PBC shows damage, center right, after a militant attack targeted the Mianwali Training Air Base in Pakistan, on November 4, 2023. (Planet Labs LBC via AP)
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Updated 06 November 2023
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Pakistani military says nine attackers killed after assault on airbase

  • Pakistan military says ‘no damage’ has been done to any operational assets at the base
  • It came a day after three separate attacks killed 21 Pakistanis, including 15 security men

ISLAMABAD: Pakistani security forces on Saturday killed nine militants who stormed a training airbase in the eastern Pakistani district of Mianwali, said the military, adding “no damage” had been done to any functional operational assets at the airfield.
The training base of the Pakistan Air Force came under attack in the wee hours of Saturday, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
It said a timely response resulted in the killing of three attackers while entering the base, whereas six others were killed in a combing and clearance operation.
“The successful operation was launched by security forces to eliminate any potential threat in the surrounding area, following the cowardly and failed terrorist attack on the base this morning,” the ISPR said.
“No damage has been done to any of the PAF’s functional operational assets, while only some damage was done to three already phased out non-operational aircraft during the attack.”
The assault came a day after three separate attacks killed 21 people, including 15 security personnel, in Pakistan’s Khyber Pakhtunkhwa and Balochistan provinces that border Afghanistan.
The South Asian country has been witnessing an uptick in militant attacks, particularly after the Pakistan Taliban called off their fragile truce with the government in November 2022, with a majority of these incidents targeting the two provinces along the Afghan border.
Caretaker Prime Minister Anwaar-ul-Haq Kakar condemned the attack in a social media post.
“The valiant Pakistan Air Force has once again proven its mettle by thwarting a cowardly terrorist attack in Mianwali,” he said. “Any attempt to undermine our security will meet with unwavering resistance.”
“The nation stands with you [the security forces] and we salute your courage and resolve,” he added.

Pakistani officials have repeatedly asserted that militants targeting their country operate from the neighboring Afghanistan, urging the Taliban government in Kabul to prevent their territory from being used as a staging ground for such attacks.
Pakistan last month asked all illegal immigrants, mostly Afghan nationals, to leave the country by November 1, saying they were involved in attacks, smuggling and other offenses.
The expulsion order followed suicide bombings in Pakistan this year that the government said involved Afghan nationals, though it did not provide any evidence.
The South Asian country has since set up tens of holding centers to speed up the repatriation process as authorities continue to arrest illegal immigrants in nationwide sweeps.


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.