ISLAMABAD: Pakistan can help bridge differences between the United States (US) and China, Islamabad’s envoy to Washington said on Thursday, amid the South Asian country’s efforts to strike a balance in its ties with the two world powers.
Relations between the US and China have been strained over the past several years as both world powers seek to increase their global influence in several domains. The two nations have often had disagreements over trade, Taiwan, the South China Sea and China’s Belt and Road Initiative.
Pakistan maintains a delicate balance in its relations with China and the US. While aligned with the US for military cooperation and counter-terrorism efforts, Islamabad has strengthened economic ties with Beijing through initiatives like the China-Pakistan Economic Corridor (CPEC).
In a talk delivered at the University of California, Pakistan’s Ambassador to Washington Rizwan Saeed Sheikh underscored the strength of Pakistan-US relations and highlighted the role of the Pakistani-American community in fostering mutual growth, the state-run Radio Pakistan broadcaster reported.
“Pakistan has the potential to serve as a bridge between China and the United States,” Sheikh was quoted as saying at the event.
The statement came hours after the Pakistani Foreign Office said its relations with key longtime ally China would remain “unaffected” by Donald Trump winning the US presidential election
“Pakistan’s relations with China are all-weather,” Foreign Office Spokesperson Mumtaz Zahra Baloch said during a weekly press briefing when asked if Trump’s victory will affect the country’s China policy.
“They are strategic and a source of stability in our foreign policy.”
Baloch said Islamabad does not even need to consider the possibility that its relationship with China will be affected by any domestic development in another country.
The complex US-China rivalry impacts Pakistan as it navigates its strategic partnerships with both world powers while grappling with a prolonged economic crisis.
“Our relations with the United States are decades old, and we look forward to further strengthen and broaden Pakistan-US relationship in all fields,” Baloch said.
“As the Deputy Prime Minister said in a tweet yesterday, we look forward to fruitful and mutually beneficial cooperation between Pakistan and the United States.”
Pakistan and the US cultivated strong defense ties during the Cold War days yet their relationship was also tested by divergent priorities on various issues.
In recent years, Washington and Islamabad’s ties deteriorated as the former suspected the latter of supporting the Taliban in their 2021 takeover of Kabul, allegations which Islamabad rejected. Tensions rose further in 2022 when former Pakistan Prime Minister Imran Khan accused the Biden administration of orchestrating his ouster via a parliamentary vote, a charge the US denied.
Pakistan, under PM Shehbaz Sharif’s two separate stints as prime minister in 2022 and 2024, has actively sought to improve its relations with the US.
Pakistan can serve as bridge between China and US — Islamabad envoy to Washington
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Pakistan can serve as bridge between China and US — Islamabad envoy to Washington
- Relations between the US and China have been strained over the past several years as both world powers seek to increase their global influence
- The complex US-China rivalry impacts Pakistan as it navigates its strategic partnerships with both while grappling with a prolonged economic crisis
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.
