Author name: NEN News

Business

SECP Submits Companies Act Amendments to Finance Division

ISLAMABAD — The Securities and Exchange Commission of Pakistan (SECP) has submitted proposed amendments to the Companies Act, 2017, to the Finance Division. This initiative seeks to enhance Pakistan’s business environment and improve the corporate regulatory framework. The proposed amendments focus on streamlining corporate rules to foster an investor-friendly business climate. These reforms aim to eliminate regulatory barriers that hinder business operations and deter investment. Key Features of the Corporate Regulatory Reforms The draft amendments introduce crucial measures to expedite business processes in both listed and unlisted companies. The significant features include: Incorporation of the Board of Investment’s Ultra-Fast Track Package Implementation of comprehensive Regulatory Reform Packages Reduction of bureaucratic hurdles in corporate operations Simplified compliance requirements for businesses of all sizes These reforms aim to drastically reduce processing times for corporate filings, decreasing administrative burdens. Companies can then focus on growth, expansion, and revenue generation. Streamlining Business Operations and Compliance The submission followed a comprehensive review of key regulatory reforms, conducted jointly by the SECP and the Board of Investment. This review identified bottlenecks in the current system. This initiative aligns with national economic priorities and strategies to attract investment. The government’s coordinated approach underscores its commitment to business-friendly reforms across various sectors. Efforts target both domestic entrepreneurs and foreign investors to boost investment in manufacturing, services, technology, and export-driven industries in Pakistan. Investment Attraction and Economic Growth Strategy The proposed changes are part of Pakistan’s broader strategy to enhance competitiveness in regional and global markets. Updating corporate laws aims to position Pakistan as a premier investment destination in South Asia. Expected to drive economic growth, these amendments facilitate swift business registration and incorporation. Reduced compliance costs enable firms to allocate more resources to productive investments and job creation. These reforms align with Pakistan’s efforts to increase trade, attract foreign direct investment, and bolster the overall business climate for sustainable economic development.

Pakistan

Balochistan Health Department Warns 168 Absent Employees of Dismissal

QUETTA — The Balochistan health department has issued final warning notices to 168 employees citing persistent absenteeism. These employees must address the issue within seven days or face permanent dismissal. Categories of Warned Employees Employees warned belong to different categories within the provincial health department. Notices have been sent to: Technical staff Lower technical staff Non-technical staff These employees must submit written explanations for their unauthorized absences. As per officials, the warnings follow numerous unheeded reminders. The department is taking action to address those repeatedly neglecting their duties. Disciplinary Rules and Consequences The Balochistan Government Employees Performance and Discipline Rules stipulate that habitual absenteeism can lead to permanent dismissal. The department emphasizes accountability to ensure effective public service delivery. An official from the health department stated, “The department is committed to maintaining order within government institutions, ensuring uninterrupted healthcare services for the public.” Initiative to Enhance Healthcare Services This enforcement is part of a wider initiative to enforce attendance discipline in Balochistan’s health sector. The aim is to enhance public health service delivery across the province. Employees have a strict seven-day deadline to regularize their attendance; failing to comply will result in permanent dismissal from government service. This action highlights the provincial government’s commitment to accountability within Pakistan’s public sector, showcasing the Balochistan health department’s dedication to upholding high standards in healthcare delivery throughout the province.

Pakistan

Minister Orders Crackdown on Illegal Wheat Trade, Bogus Seed Firms

ISLAMABAD — Federal Minister for National Food Security and Research, Rana Tanveer Hussain, has initiated a robust crackdown on the illegal wheat trade in Pakistan. This effort targets bogus seed companies that are involved in unauthorized wheat seed movement and trade across the nation. Zero Tolerance for Fraudulent Operations At the National Wheat Oversight Committee (NWOC) meeting, Minister Hussain reinforced a zero-tolerance stance against fraudulent operators disrupting the agricultural supply chain. Authorities are assigned to closely monitor seed movements and verify company credentials to prevent agricultural losses nationwide. Ensuring National Food Security Minister Rana Tanveer has declared that there will be no leniency for entities engaged in illicit wheat trade activities. Distributing substandard seeds presents a critical threat to crop yields. Federal officials warn that uncertified wheat seeds could severely impact national food security. As a result, efforts concentrate on shutting down companies lacking proper licenses or quality certifications. Provincial Collaboration for Effective Enforcement The government has pinpointed several bogus seed firms operating nationwide, distributing seeds below federal quality standards. Federal authorities will work collaboratively with provincial departments to enforce regulations. The National Wheat Oversight Committee will oversee these operations, aiming to protect farmers and ensure consistent agricultural productivity throughout the country.

Business

Two Women Dead, One Missing After River Swat Drowning in Malakand

PESHAWAR — A tragic incident unfolded on Thursday when two women drowned and one went missing after being swept away by the River Swat near Pul Choki Fishing Hut in Malakand. This calamity prompted an immediate response from Rescue 1122 and local relief teams. Rescue Operations Local residents collaborated with Rescue 1122 personnel to retrieve one unconscious woman from the river. After receiving first aid onsite, she was taken to a nearby medical facility and later moved to DHQ Hospital for further evaluation. Her condition remains unknown. In the Badwan Tarai area, rescuers recovered the second woman’s body. A Rescue 1122 ambulance transported her remains to the hospital for identification and legal procedures. Efforts to locate the third woman are ongoing, with teams thoroughly searching the riverbanks. Victims from Mardan District Authorities confirmed that all the women belonged to the same family from Mardan district. They were visiting Malakand at the time of the tragedy. Official identification is pending family notification. Coordinated Response from Agencies District Emergency Officer Nasir Khan has led a comprehensive deployment of rescue teams. This joint effort includes: Rescue 1122 water rescue and medical units Civil Defence personnel Nizamuddin Rescue Team Alkhidmat Foundation volunteers Ongoing Search Operations The search for the missing woman has been extended downriver, where strong currents may have carried her. Rescue operations are concentrated both on the riverbank and in the water, highlighting the region’s robust emergency management capabilities.

Pakistan

Rawalpindi Sanitation Agency Chief Orders Better Resource Utilisation

RAWALPINDI — Rana Sajid Safdar, Managing Director of the Suthra Punjab Agency (SPA), has directed officials to maximize asset utilization for enhancing Rawalpindi’s sanitation services. Efficient Resource Deployment During a recent review meeting on sanitation operations, Safdar emphasized efficient resource use to benefit city residents. The initiative seeks to boost the efficiency of sanitation services in Rawalpindi. Officials are instructed to optimize machinery, vehicles, and manpower, fully utilizing existing resources to improve waste management without increasing costs. Operations Assessment and Improvement The review focused on current sanitation operations, identifying measures to enhance service efficiency city-wide. Strategies for the effective deployment of equipment and personnel were analyzed. Key Focus Areas Optimizing machinery and vehicle use Enhancing the utilization of assigned manpower Improving coordination among sanitation teams Strengthening inter-departmental communication systems Boosting Team Coordination The SPA stressed the need for better coordination among sanitation teams to ensure quality services for Rawalpindi residents. Departments are encouraged to collaborate effectively to swiftly address sanitation challenges. This initiative is part of the Punjab government’s strategy to improve municipal services in major cities while maintaining steady operational costs.

Pakistan

Kohat Police Arrest Murder Suspects, Recover Illegal Weapons in District Crackdown

KOHAT — On Thursday, the Kohat police initiated a major operation, arresting several suspects wanted for murder and seizing illegal weapons and ammunition. District Police Officer Dr. Shahbaz Elahi led this operation, focusing on proclaimed offenders and criminal elements in various areas. Targeting Criminal Networks The operation’s primary goal was to dismantle known criminal networks, crucial for maintaining law and order. Committed to public safety, police conducted simultaneous raids at multiple locations. Objectives of the Crackdown The Kohat police targeted three main objectives: Enhancing public safety throughout the district Reducing the circulation of illegal arms Apprehending criminals involved in serious offenses Sustained Law Enforcement Efforts These operations are part of ongoing efforts to strengthen law enforcement in the region. Police officials confirm that such actions will continue to ensure security. Regular crackdowns aim to protect citizens, particularly focusing on eliminating illegal weapons possession. The seized weapons and ammunition are currently held for further investigation.

Sports

Balochistan CM Bugti Congratulates Pakistan Football Team on International Win

QUETTA — Chief Minister of Balochistan, Mir Sarfraz Bugti, has congratulated the Pakistan football team on their outstanding victory in an international tournament. This success serves as a significant source of national pride. Historic Milestone for Pakistani Football Mir Sarfraz Bugti praised the team’s remarkable achievement on the global stage. He described this victory as a historic milestone for Pakistani football, emphasizing the dedication and perseverance that brought honor to the country. This win marks a pivotal moment for the development of football in Pakistan, showcasing the growing potential of Pakistani athletes in international sports. Sports Development and National Support The Chief Minister highlighted the importance of national support for sports as vital to such achievements. He believes that these triumphs encourage Pakistani youth to excel in athletics. Bugti remains optimistic that this success will pave the way for future victories. He mentioned that the team’s outstanding performance was made possible by months of rigorous training and preparation. Awaiting Tournament Details Details about the tournament and opponents remain unavailable. Official announcements regarding the event are expected soon. The Pakistan Football Federation will release comprehensive information about the tournament results shortly.

Pakistan

NAVTTC Trained Over 100,000 Students in Vocational Skills in FY2025

The National Vocational and Technical Training Commission (NAVTTC) achieved a milestone by training over 100,000 students in vocational and technical skills during fiscal year 2025, according to the Pakistan Economic Survey 2025-26. This initiative reflects the government’s dedication to workforce development, essential for economic growth in Pakistan, as it tackles skill shortages in the labor market. Major Programs for Skills Development NAVTTC provided training through a broad network of public and private institutes across the nation. Several flagship programs played a significant role in this success. Key Training Initiatives Prime Minister’s Youth Skills Development Programme (2023-27) Industry Led Training with Industrial Associations Huawei High-Tech Skills Initiative These initiatives cover both traditional trades and emerging tech sectors, equipping students with industry-aligned skills and immediate job opportunities. Strategic Workforce Readiness Initiatives The federal government is advancing workforce readiness among Pakistani youth through strategic programs. Training is available at government and private institutions in all provinces. This coordinated effort effectively addresses skills gaps in Pakistan’s labor market. NAVTTC partners with industry associations and global tech firms to ensure training meets current market needs, keeping vocational education relevant. Impact on Economic Growth and Employment This effort fosters economic growth by preparing youth for vital industry roles. Enhanced workforce development strengthens Pakistan’s position in global and regional markets. Training over 100,000 students helps NAVTTC reduce unemployment. Focusing on human capital development is crucial for Pakistan’s long-term economic strategies. A skilled workforce boosts industrial competitiveness and supports sustainable national development.

Business

Minister Orders Pakistan Post to Submit Restructuring Plan in 90 Days

ISLAMABAD — Federal Minister for Communications Abdul Aleem Khan has instructed Pakistan Post to develop a comprehensive restructuring and business plan within 90 days. This move is designed to improve the organization’s financial performance and achieve self-sufficiency amid growing fiscal pressures. 90-Day Deadline for Reform In a high-level meeting at the Directorate General of Pakistan Post on Thursday, Minister Khan evaluated the current operational and financial condition of the organization. He stressed the need for a realistic reform strategy to address Pakistan Post’s core financial challenges. Financial Sustainability Concerns The directive highlights the government’s increasing concerns over the operational sustainability of Pakistan Post. Rising operational costs make it crucial to tackle these financial challenges to secure long-term viability. A comprehensive plan is needed to drive growth and boost revenue. Targets for Operational Improvement The restructuring plan will concentrate on enhancing efficiency and profitability through several strategies: Implementing revenue generation strategies to increase income streams and diversify services Improving operational efficiency by reducing waste and streamlining processes Cutting costs across various departments and facilities Modernizing services to stay competitive in the digital age State-Owned Enterprise Reform This initiative is part of a larger government effort to reform state-owned enterprises by reducing their reliance on public funding. Aligned with Pakistan’s economic strategy, these reforms aim to streamline operations and minimize inefficiencies in state-owned entities. Successfully restructuring Pakistan Post could set a precedent for other financially challenged state enterprises.

Business

Gold Prices Drop Rs 9,720 Per Tola in Local Market

Significant Decline in Gold Market On Thursday, Pakistan’s local gold market witnessed a sharp drop in gold prices. The price of 24-karat gold per tola decreased by Rs 9,720, marking a notable decline. The new rate is Rs 432,716 per tola, down from Rs 442,436. These figures are confirmed by the All Pakistan Sarafa Gems and Jewellers Association, a key authority on precious metal pricing in Pakistan. This change is reflective of broader market dynamics that influence the local bullion industry. Sharp Drop in a Single Day The Rs 9,720 reduction in a single trading session is one of the most significant drops observed recently. This fluctuation affects both the domestic and international gold markets. Local Market Price Adjustments 24-karat gold per tola decreased by Rs 9,720 Current rate: Rs 432,716 per tola Previous rate: Rs 442,436 per tola Factors Affecting Gold Price Movements The specific cause of the decline isn’t detailed, but local gold prices often align with international bullion market trends. Currency fluctuations, notably involving the Pakistani rupee, play a crucial role in changes to the domestic gold rates. The rupee’s performance against major global currencies significantly impacts the pricing of precious metals locally. International gold trends and currency exchange rates continue to shape Pakistan’s gold market, guiding traders in their daily rate assessments.

Scroll to Top