‘Operation Ashura’: Pakistan’s national airline launches special flights to Najaf for Muharram

View of the Pakistan International Airlines (PIA) passenger plane, taken through a glass panel, at Islamabad International Airport, Pakistan on October 3, 2023. (REUTERS/File)
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Updated 08 July 2024
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‘Operation Ashura’: Pakistan’s national airline launches special flights to Najaf for Muharram

  • Iraq’s Najaf and Karbala cities hold special significance for Shia Muslims, who visit them in Muharram to pay tribute to Imam Hussain
  • “Operation Ashura” to provide seamless travel experience to pilgrims, return flights from Najaf to begin from July 20, says state media 

ISLAMABAD: Pakistan’s national airline has launched special flights to Iraq’s Najaf city to provide a seamless travel experience to pilgrims during the Islamic month of Muharram, state broadcaster Radio Pakistan reported on Sunday. 

Iraqi cities of Najaf and Karbala hold tremendous significance for Shia Muslims around the world, many of whom travel to these cities during the first two months of Islamic lunar calendar to recall the sacrifices made by Imam Hussain, the grandson of Prophet Muhammad (peace be upon him). 

“Pakistan International Airlines has launched special flights for Najaf to facilitate pilgrims during Muharram,” Radio Pakistan said in a report. “The flights operation called ‘Operation Ashura’ is designed to provide a seamless travel experience for pilgrims during this significant period of religious observance.”

The state broadcaster said return flights from Najaf will begin on July 20.

Pakistan’s central moon-sighting committee met on Saturday in the southwestern city of Quetta to spot the Muharram crescent. The Ruet-e-Hilal Committee (RHC) announced that Pakistan would observe the first of Muharram on July 8 while Ashura, which marks the martyrdom of Hussian, would be observed on July 17. 

Ashura, which falls on Muharram 10 every year, sees hundreds of thousands of Shia Muslims take part in religious gatherings and processions in Pakistan to mourn Hussain’s passing. These processions and gatherings take place amid tight security, as militant groups in Pakistan have often targeted them in the past and killed of hundreds of people. 

Pakistan’s largest Punjab province has proposed a ban on all social media platforms from Muharram 6-11 to ensure proper security measures, provincial information minister Azma Bukhari said on Friday.

The measure was aimed at protecting Shia Muslims from sectarian violence and control the spread of hate speech and misinformation, the provincial government wrote in a letter to Pakistan’s interior ministry last week.


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.