ISLAMABAD: The chief of Pakistan’s influential religio-political party Jamaat-e-Islami (JI) on Sunday announced a nationwide strike for April 26 in solidarity with Palestine, urging citizens to boycott brands allegedly supporting Israel amid its ongoing military offensive in Gaza.
The call came during a large Gaza Solidarity March held on the Expressway connecting Islamabad and Rawalpindi, after authorities blocked access to Islamabad’s Red Zone, where JI had originally planned to rally near the US embassy.
The party has held similar protests in Karachi, Lahore and other cities in recent weeks, criticizing Washington’s support for Israel’s military campaign against the Palestinian territory.
“There will be a complete nationwide strike on April 26,” JI chief Hafiz Naeem-ur-Rehman said in his address to the crowd. “We will go from shop to shop, urging people to suspend business activities ... as we will wage a jihad through boycotts, strikes and social media campaigns.”
Rehman called on Pakistanis to boycott all products linked to Israel, vowing to keep the movement peaceful but persistent.
He also urged the government to formally recognize Hamas and allow it to open an office in Pakistan, calling the group “a legitimate power” that won democratic elections in 2006.
Participants at the march echoed Rehman’s demands, saying Pakistanis should take a more active role in supporting Palestinians by avoiding Israeli-linked brands and pushing the government to take diplomatic initiatives.
“We should boycott brands that support Israel in order to inflict financial damage and send a strong, clear message,” said a woman attending the march with her family, who identified herself as Mrs. Majid.
Dr. Liaqat Ali Meher, who traveled from District Gujrat in Punjab, said Muslim countries should go beyond verbal condemnations and coordinate political pressure on Israel and the US.
“The government should send parliamentary delegations to various countries to build political pressure on Israel and the United States to stop the killing of innocent people, including women and children,” he said.
Others at the march described their participation as a gesture of unity with Palestinians.
“The aim of our participation in this rally is to raise our voice for all the Palestinians martyred by Israel and to show that we stand with them and share in their pain,” Yasir Khan, an Islamabad-based government employee, said.
Pakistan does not maintain diplomatic relations with Israel and has repeatedly condemned its military actions in Gaza, particularly the killing of thousands of unarmed civilians.
Islamabad has also called for the resumption of humanitarian aid to the besieged enclave and renewed negotiations toward a two-state solution.
It has long supported the creation of an independent Palestinian state based on pre-1967 borders, with East Jerusalem as its capital.
Since October 7, 2023, more than 51,000 Palestinians have been killed and over 116,000 wounded in Israel’s military campaign in Gaza, according to the Gaza Health Ministry.
Islamabad locked down as Pakistani party stages mass rally in solidarity with Gaza
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Islamabad locked down as Pakistani party stages mass rally in solidarity with Gaza
- Jamaat-e-Islami’s top leader urges government to recognize Hamas, open its office in Pakistan
- Hafiz Naeem-ur-Rehman calls on the people of Pakistan to boycott all products linked to Israel
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.
