Sunday, July 24, 2011

SECP granted licences to 15 not-for-profit associations from April to June, 2011

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) granted licences to fifteen not-for-profit associations under Section 42 of the Companies Ordinance, 1984, from April to June, 2011 as compared to ten licences issued in the corresponding period of the previous year.

Sector-wise division reveals that the licences were granted to five associations in the education sector, three each in the social services sector and the healthcare sector, two in the commerce sector and one each in the charity and sports sectors.

In the education sector, Pakturk Education Foundation (having both Turkish and Pakistan nationals as its promoters), Let’s Serve Humanity, Darmaan Welfare Foundation, Teach for Pakistan, and Aman Institute for Vocational Training have been formed to establish educational institutions and centres, with the permission of the competent authority, but not to act as degree awarding institutes.

Associations in the social services sector include Farz Foundation (formed to promote social and economic well being of masses), Pakistan Youth Alliance (to establish and administer relief camps for disaster victims), and Quick Action Foundation (to develop rural areas).

In the healthcare sector, Aman Health Care Services and White Crescent Foundation aim to establish and administer hospitals and healthcare centres, etc., while Pakistan Optometric Society has been established to work for the promotion of optometry and to raise awareness regarding eye diseases.

Pakistan Romania Business Council has been established to encourage and promote business relations between the industrial and business communities of Pakistan and Romania. The Ambassador of Romania in Pakistan is the patron of the association.

The Mind Sports Association of Pakistan has been established to promote mind sports, i.e., Chess, Scrabble etc., and A.N.K Rana Foundation has been formed to administer relief programmes and to undertake charitable activities..

It is expected that the new associations shall play a conducive role in serving the civil society and the masses in their respective fields.

Saturday, May 7, 2011

KARACHI CITY GOVT. TO COMPLETE CLEANING DRAINS BY JUNE

City District Government was performing cleaning work of all major storm water drains in Karachi on war footing basis to finish it by June before the start of next monsoon season. This was stated by DCO Karachi Muhammad Hussain Syed while talking to media representatives after inspecting cleaning and de-silting work of Gujjar Nullah, Machchar Colony Nullah and Nehr-e-Khayam on Thursday. He was accompanied by media representatives on this visit.

DCO Karachi said that it was impossible to permanently solve the water drainage problem without proper channelization of drains and construction of roads alongside all major drains like on the lines of Lyari Expressway.

He said that city government has made a plan to channelize Mehmoodabad and Manzoor Colony Nullah and it was trying to complete this work as soon as possible.

The DCO said that more than 15 drains in Karachi drains out rain water; however these drains have now narrowed down due to the encroachments established on their edges while the dumping of garbage in these drains had also chocked them at many points.

“Each year city government performs the complete cleaning of all these drains before the start monsoon with a cost of crores of rupees, but still it feels that this is not the permanent solution of the problem and the actual solution lies in the widening and channelization of drains and construction of roads alongside their edges so that these drains could be cleaned properly and the environmental conditions could be made better,” he added.

DCO Karachi informed media representatives that city government had also submitted a plan for channelization of Gujjar Nullah to the federal government but still the project was in approval process.

He said that the cleaning of drains was started in March this year with the help of heavy machinery and a part of the Manzoor Colony and Mehmoodabad Nullah from Qayyumabad to Nursery had been already cleaned while the cleaning of Gujjar and Machchar Colony Nullah and Nehr-e-Khayam in Clifton was underway after which cleaning of others drains will begin.

DCO Karachi said that city government was aware of this that the citizens could have troubles due to the hurdles in the drainage of storm water anywhere in the city, therefore it will completely clean all major drains of city before June and also do this work again if needed.

Regarding solid waste management he said that citizens would soon have good news in this connection as talks between city government and a consortium was underway.

DCO said that though the solid waste management belongs to towns as their basic responsibility but still city government provides necessary cooperation to towns in this regard so that the city could be kept cleaned. He further said that there should be a one window operation to solve the solid waste management problem.

On this occasion DCO Karachi also announced to give one thousand rupees each to the municipal workers deputed on the cleaning of drains. He also praised their performance.

Wednesday, January 12, 2011

HRCP condoles murder of Justice Iqbal’s parents

Lahore, January 12: The Human Rights Commission of Pakistan (HRCP) has expressed deep shock and grief at the murder of parents of Justice Javed Iqbal, a senior judge of the Supreme Court, and condemned the killing as “absolutely unconscionable”.

A statement issued on Wednesday said: “HRCP is shocked at the brutal murder of Justice Javed Iqbal’s aged parents in a locality that is considered safe from criminal activities. We condole with the bereaved family. HRCP would not like to comment on the motives behind the absolutely unconscionable killing until the matter has been thoroughly investigated. However, if there is even the slightest indication that this is some kind of a message to the judiciary, that would be an even more sinister incident than the ghastly murders.

The incident only underlines the state of disorder and lawlessness and the extent of perils to life and liberty even in the country’s main cities. Such incidents strain the people’s sense of patriotism to the breaking point and cast doubts on the government’s ability and entitlement to rule. Mere apprehension of the culprits would not do. The people must be given due assurances that guarantees of life and liberty are more than mere words.”

Friday, January 7, 2011

SECP moves action against illegal commodity exchange

ISLAMABAD – January 7: In order to safeguard the interest of common
investors, the Securities and Exchange Commission of Pakistan (SECP)
has taken cognizance of unregistered commodity futures trading. The
SECP has issued an order against Ravi Oil Cake Traders, a partnership
firm, for operating an illegal commodity exchange.

The firm violated Section 3 (1) of the 1969 Securities and Exchange
Ordinance by providing unauthorized trading facilities in cottonseed
oil futures contracts thereby posing a risk to the deposits of
numerous investors. A penalty of Rs10 million has been imposed on the
two partners of the firm.

The general public is cautioned that all transactions in commodity
futures contracts in Pakistan are governed by the 2005 Commodity
Exchange and Futures Contracts Rules. Presently, the National
Commodity Exchange Limited (NCEL) is the only registered commodity
futures exchange in Pakistan, providing authorized trading platform in
various listed futures contracts including metals and agricultural
products.

Thursday, July 29, 2010

Changes in anti-terror law must not undermine rights: HRCP

The Human Rights Commission of Pakistan (HRCP) has expressed concern that some of the changes proposed in the anti-terrorism law are not only contrary to due process they will also cause derogation of human rights, and called upon parliament to ensure adequate safeguards to prevent abuse by law enforcement agencies. A statement issued by HRCP on Wednesday said: “While the bill introduced in the Senate to amend the Anti-Terrorism Act of 1997 is largely a reproduction of the 2009 ordinance on the subject, it has several new provisions that will cause anxiety to defenders of rule of law.
The Human Rights Commission of Pakistan understands the need to strengthen the law to deal with terrorist activities and terrorist groups, particularly continued operation of proscribed groups under new names. However, we are seriously concerned at the enlargement of powers of police and other law enforcement agencies, particularly in view of their persistent disregard of human rights and their inability to deal with crime in a scientific, non-violent manner.
We have serious concerns regarding the provision of detention for 90 days for inquiry and the downgrading of the investigation officers—sub-inspectors are proposed to be tasked with such inquiries now, instead of inspectors under the prevailing law. HRCP has serious objections to the move to grant sweeping powers to police to tap phones and access personal information in absence of any safeguards for privacy and without adequate oversight. The Commission calls upon all members of parliament to make every effort to ensure that human rights are not the first casualty in the state’s questionable efforts to curb terrorism. They must also make certain that adequate safeguards are provided so that inefficiency and abuse of authority by police do not lead to denial of rights to the people.” Dr Mehdi Hasan Chairperson

Tuesday, October 13, 2009

General Kayani visited CMH

The Chief of Army Staff (COAS), General Ashfaq Parvez Kayani visited Combined Military Hospital (CMH) Rawalpindi. COAS inquired about the health and well being of wounded soldiers of Operation Janbaz. He appreciated their performance and high morale.