ISLAMABAD: Pakistan fast bowler Ihsanullah left for England on Sunday for a crucial appointment with esteemed orthopedic surgeon, Professor Adam Watts, regarding his elbow injury, the Pakistan Cricket Board (PCB) said.
The pacer sustained the injury in April last year following a white-ball series against New Zealand. At the time, the PCB did not believe the injury was severe and the initial treatment, including gym and weight work, reportedly worsened it.
Ihsanullah’s appointment is scheduled for Monday, according to the PCB. Professor Watts specializes in hand and wrist surgery, shoulder and elbow procedures, sports injuries, and trauma surgery.
“Ihsanullah’s franchise, Multan Sultans, has collaborated with the PCB to secure this appointment,” the cricket board said in a statement. “The PCB, as Ihsanullah’s parent body, will cover all expenses for his treatment and rehabilitation.”
The PCB said it would provide further updates after the assessment and diagnosis by Professor Watts.
Since April 2023, there had been almost no official updates on Ihsanullah’s injury. His case received media attention this month, when Ali Tareen, owner of Pakistan Super League (PSL) franchise Multan Sultans, accused the PCB of failing to provide “appropriate treatment” to the player.
Tareen said the franchise had borne considerable expenses for the pacer’s treatment and he would likely require another surgery.
Pakistan pacer Ihsanullah leaves for England for assessment of elbow injury
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Pakistan pacer Ihsanullah leaves for England for assessment of elbow injury
- The fast bowler sustained the injury in April last year following a white-ball series against New Zealand
- At the time, the PCB did not believe the injury was severe and the initial treatment reportedly worsened it
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.
