ISLAMABAD: Former Prime Minister Imran Khan has decided to run for the post of Chancellor of the University of Oxford from prison, according to one of his close aides, Zulfi Bukhari, who confirmed on Saturday that the ex-premier had asked him to initiate the application process.
Since his ouster from power in a parliamentary no-confidence vote in April 2022, Khan has become entangled in a slew of legal cases, a frequent hazard for opposition figures in Pakistan.
He has been in jail for over a year, though all the convictions handed down to him ahead of the February 8 parliamentary election have either been suspended or overturned. However, he remains incarcerated on new charges.
While Khan could not contest the national polls due to the legal cases against him — which he claims are motivated to keep him out of politics — a British newspaper, The Telegraph, reported in July that he wanted to run for the position of Chancellor at the University of Oxford.
“I will confirm shortly when the procedure has been completed and submitted,” Bukhari said in a brief message circulated among the media while sharing the news.
The Chancellor of Oxford University is elected by the members of Convocation, which includes all alumni of the university who have been admitted to a degree. To be eligible to run for the position, a candidate must be nominated by at least two members of Convocation.
The election process is generally open to distinguished individuals who have made significant contributions to public life, academia or other fields.
The chancellor’s role is largely ceremonial, but it is a prestigious position within the university.
Convocation will be asked to elect the new Chancellor online in the third week of Michaelmas term, starting on October 28.
Khan studied at Oxford, where he completed his degree in Philosophy, Politics and Economics in 1975.
His decision to run for the position at the prestigious British university is expected to bring international attention to his incarceration in Pakistan.
Imran Khan to run for Oxford chancellor from prison amid legal battles, confirms aide
https://arab.news/6d385
Imran Khan to run for Oxford chancellor from prison amid legal battles, confirms aide
- The ex-PM studied at Oxford, completing his degree in Philosophy, Politics and Economics in 1975
- His decision to run for the post is likely to get international attention to his incarceration in Pakistan
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.
