Daily HURRIYAT

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 Founda

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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 wh

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 p

I SLAMABAD – 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 includi