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Showing posts from January, 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 p

SECP moves action against illegal commodity exchange

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