ISLAMABAD: Pakistan and Bahrain information minister have resolved to strengthen state media ties between the two countries, Pakistani state media reported on Friday.
The development came during Pakistani Information Minister Attaullah Tarar’s meeting with his Bahraini counterpart, Ramadan bin Abdullah Al-Noaimi, in Riyadh, on the sidelines of the Saudi Media Forum.
The two figures discussed relations between Pakistan and Bahrain, which were rooted in common faith, history and culture, the state-run Pakistan Television (PTV) broadcaster reported.
“Attaullah Tarar said exchange of media delegations is crucial for further strengthening cooperation in the field of media,” the report read.
“He suggested the sharing of news between Bahrain News Agency (BNA) and Associated Press of Pakistan (APP).”
Bahrain is one of the important countries in the Gulf Cooperation Council (GCC), and a favorite destination for the Pakistani workforce since the early 1970s, according to the Pakistani foreign ministry.
Both countries have established Joint Ministerial Commission (JMC) at the level of the foreign ministers, and the Pakistan-Bahrain trade volume has ranged between $500 million and $1 billion in recent years.
Tarar told his Bahraini counterpart that Pakistan’s economy, bolstered by a $7 billion International Monetary Fund (IMF) program, was moving in the right direction, saying there were excellent opportunities for global investors to invest in Pakistan.
“Bahrain’s Minister for Information said they value their relationship with Pakistan,” the PTV report read. “He reiterated Bahrain’s commitment to further strengthening cooperation in the media.”
Pakistan, Bahrain information ministers vow to strengthen media ties
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Pakistan, Bahrain information ministers vow to strengthen media ties
- Bahrain is an important Gulf Cooperation Council member and a favorite destination for Pakistani workforce since the 1970s
- Attaullah Tarar says Pakistan’s economy is moving in the right direction and offers excellent opportunities for global investors
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.
