SECP amends NCCPL Regulations 2015

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has approved amendments to the National Clearing Company Pakistan Limited (NCCPL) Regulations 2015 to introduce reforms in Margin Financing (MF) products, which allows securities brokers to provide financing to their customers in a regulated manner, it said on Saturday.

“These reforms will facilitate investors who wish to undertake leveraged trading and need finance for purchasing shares,” the commission said in a statement.

“As a result of these reforms, position limits and exposure limits have been liberalised to allow more liquidity.”

The regulator said MF facility would now also be available to investors against their net purchases at expiry of Deliverable Futures Contracts period, which would facilitate investors to honour their settlement obligations in futures segment, thereby further reducing settlement risk.

SECP amends NCCPL Regulations 2015
SECP amends NCCPL Regulations 2015

7 members of Pak family killed in Canada house fire

CHESTERMERE, Canada: At least seven members of a Pakistan-origin family lost their lives when their residence burned down in the Canadian province of Alberta on Friday.

Among the casualties were four children. Five of the residents were able to flee from the house during the fire. According to the prayer leader of Calgary mosque, Syed Suharwardy, there were two families residing in the house at the time of the incident.

He added that one of the families had arrived a few days ago to stay at the residence.

Foreign Office (FO) spokesperson Zahid Hafeez Chaudhri expressed grief over the incident and said, “Our thoughts and prayers are with the families of the victims of this tragic incident. We also pray for quick and full recovery of the injured”.

The spokesperson further stated that the country’s consulate general in Vancouver was in contact with Canadian authorities to ascertain the facts leading to the incident.

He added that officials were also in contact with the bereaved family to extend assistance to them.

The spokesperson further said that the cause of the fire was unknown, adding the authorities had ruled out the involvement of a criminal act.

Canada drew the world’s attention last month following the killing of a Pakistan-origin family in Ontario.

The family lost members from three generations after it was targeted in a “religiously-motivated” attack when a pick-up truck ran over them in the south of Canada’s Ontario province while they were waiting on the sidewalk to cross the road.

Police said the family fell prey for being Muslim and the attack appeared to be a “premeditated” one.

7 members of Pak family killed in Canada house fire
7 members of Pak family killed in Canada house fire

Navel chief hails services of PN War College Lahore

LAHORE: Chief of the Naval Staff Admiral Muhammad Amjad Khan Niazi has appreciated the efforts of Pakistan Navy War College for providing academic stimulus and honing professional knack of the course participants. He expressed these views during his visit to the College here on Saturday. Addressing the 50th PN Staff Course participants, he shed light on the evolving geo-strategic scenario and its interplay with prevalent security dynamics, with special focus on maritime security challenges. The admiral highlighted that Indian Ocean region is witnessing geopolitical changes of seismic nature and it adds to the responsibilities of Pakistan Navy. While focusing on threat perception, the naval chief underscored Pakistan Navy’s capabilities to deal with the paradigm shift in meeting traditional and non-traditional security challenges. The naval chief discussed various initiatives and developmental plan in line with his vision for Pakistan Navy to make it a formidable regional maritime power. Admiral Amjad Niazi also advised the course participant to instill Pakistan Navy’s core values of faith, character, courage, and commitment in their noble and demanding profession and draw inspiration from true Islamic values and ideology of Pakistan. Earlier, a panel of the course participants presented a research paper on ‘Cyberspace as the fifth domain of warfare: Challenge and Opportunities for Pakistan”. The naval chief was received by Commandant PN War College Rear Admiral Muhammad Zubair Shafique

Navel chief hails services of PN War College Lahore
Navel chief hails services of PN War College Lahore

Rain forecast on Sunday: PMD

 

ISLAMABAD: Pakistan Meteorological Department (PMD) has predicted chances of rain at isolated places in Punjab, Khyber Pakhtunkhwa, Balochistan, Kashmir and Gilgit-Baltistan on Sunday. According to the synoptic situation, monsoon currents were penetrating upper and central parts of the country and likely to continue till Sunday. A shallow westerly wave was affecting northern parts of the country. The met office said, “Rain associated with wind/thunderstorm is expected at isolated places in upper/ central Punjab, Khyber Pakhtunkhwa, northeast Balochistan, Kashmir and Gilgit-Baltistan while hot and dry weather is likely to prevail over most parts of the country and very hot in plain areas”. The rainfall (mm) recorded during the last 24 hours was Punjab: Murree 25, Gujrat 20, Sialkot (City 18, Airport 08), Narowal 14, Islamabad (Golra 12, Bokra 11, Zero point 08, Saidpur 06), Joharabad 08, Jhang 07, Rawalpindi (Shamsabad 04), Kashmir: Muzaffarabad (Airport 22, City 15), Rawalakot 13, Garhi Dupatta, Kotli 11, Balochistan: Kohlu 15, Barkhan 11, Zhob 02, Khyber Pakhtunkhwa: Kakul 05, Upper Dir 02, Balakot 01, Gilgit Baltistan: Babusar, Bagrote 03, Hunza and Skardu 02mm. The highest maximum temperatures recorded during the last 24 hours were Sibbi, Turbat 48 C, Shaheed Benazirabad, Dadu 45, Nokkundi, Dalbandin and Attock 44 C.

Rain forecast on Sunday: PMD
Rain forecast on Sunday: PMD

Lahore police arrest 1012 drug peddlers

LAHORE: Lahore police claimed on Saturday arrested 1012 drug peddlers with registering 994 FIRs during the last month. The police recovered more than 4 kg heroin, 391 kg and 757gram hashish,10 kg and 749 gram ICE, more than 63 kg opium and 10,453 liters liquor from the accused. City Division Police registered 172 FIRs, Cantt Division 247, Civil Lines 87, Sadr 181, Iqbal Town 132 and Model Town Division during the same period. DIG Operations Lahore Sajid Kiani said that citizens should cooperate with the Lahore Police to eliminate the menace of narcotics from society. He directed all Divisional SPs, DSPs and SHOs to launch a grand operation against criminals particularly drug peddlers involved in selling narcotics around educational institutions.

Lahore police arrest 1012 drug peddlers
Lahore police arrest 1012 drug peddlers

Pak Railways launches special tourist train in Balochistan

 

ISLAMABAD: Pakistan Railways (PR) launched a new special tourist train in Balochistan on Saturday with the aim to promote tourism in the province. According to the department’s spokesperson, this new initiative has been taken to explore a wealth of historic attractions and rich cultural heritage of Baluchistan province, Radio Pakistan reported. The Divisional Transport Officer Pakistan Railway Ibrahim Baloch in an interview told that the tourist train will run two days in a week i. e. on Saturday and Sunday between Bostan and Kolpur stations. A ride will cost between Rs 20 and Rs50. The train will stop at Baleli, Kuchlak, Bostan, Quetta, Sariab, Spezand and Kolpur railway stations. Ibrahim Baloch said the weekend train service launched by the railways aims to boost the cultural heritage the potential of the region by attracting more tourists. The tourist-only train is more comfortable and affordable for local as well as foreign tourists which would expected to increase the quality of tourism, he assured.

Pak Railways launches special tourist train in Balochistan
Pak Railways launches special tourist train in Balochistan

NAB recovers Rs 33b in Zardari s fake account case: Fawad

ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain Friday said that the National Accountability Bureau (NAB) has so far recovered Rs 33 billion in Asif Ali Zardari’s fake accounts case. In a tweet, he said the recovered amount is equal to about $200 million. With such a recovery level, the volume of corruption in the country could be gauged easily as how the past rulers had looted the country and Sindh province. He said the actual volume of corruption in the fake account case was whopping Rs 5,000 billion.

NAB recovers Rs 33b in Zardari s fake account case: Fawad
NAB recovers Rs 33b in Zardari s fake account case: Fawad

CCPO sets foolproof security for Lahore cattle traders, buyers

LAHORE: Capital City Police Officer (CCPO) Additional IG Ghulam Mehmood Dogar on Saturday said the police had made foolproof security arrangements for safety of cattle traders and buyers. He said that more than 1,000 policemwn would perform security duties and added that SPs, eight DSPs and 12 SHOs would be deployed as cattle markets had been set up in 12 places adjacent to the city. The district government had set up five cattle markets in Sadar Division, two in City Division, one in Cantonment Division and four markets in Model Town Division. The markets have been set up in Punjab Society, DHA, Sagyan, Lakhodir, LDA City, Pine Avenue Road, Sabzi Mandi Kahna, Ring Road Gajumata, Saggian, NFC Society, Haveli Markaz Sundar Road Raiwind, and Hazrat Usman Ghani Road. The CCPO said strict action would be taken against illegal cattle markets and sale points in the city and directed to ensure implementation on the coronavirus SOPs. He said the Dolphin Squad, Police Response Unit and police vehicles would ensure effective patrolling in and around cattle markets. He directed the officers to make special security arrangements at the entrance and exit of cattle markets. He said that Dolphin and Police Response Unit teams would perform their duties in three shifts till end of Eidul Azha.

CCPO sets foolproof security for Lahore cattle traders, buyers
CCPO sets foolproof security for Lahore cattle traders, buyers

No compromise on national security: Governor Punjab

RAWALPINDI: Federal Minister for Aviation Sarwar Khan Saturday said Pakistan had best foreign policy and there would be no compromise on the national security. Addressing a press conference here at Public Secretariat , he opined that clarity had been made in the foreign policy and Pakistan wanted peace in Afghanistan. Sarwar underlined that no drone strikes would be allowed in the country, adding, now Pakistan stood for its honour and survival. “We are working for justice, humanity and sovereignty,” he added. Th minister said Pakistan would not allow any country to use its soil for distorting regional peace. He said Prime Minister Imran Khan”s stance on various issues was eulogized nationally and internationally. Sarwar mentioned that the budget 2021-22 was people friendly whereas Public Sector Development Programme (PSDP) had been increased from Rs 600 billion to Rs 900 billion, which would provide employment opportunities to the people. The welfare program had been increased from Rs 200 billion to Rs 260 billion, he added. Last year, he said Rs 20 million were distributed among the deserving people. The minister termed the budget as farmer-friendly , adding the farmers would get relief through various schemes. Sarwar Khan said that Rawalpindi Ring Road was a game-changer project, adding that the project would begin this fiscal year. He pointed out the Ring Road project would be completed by the next elections. “Ring Road has been re-aligned,” he added. To meet the water shortage, five dams would be built in Rawalpindi to increase water reserves where two dams under construction to be completed this year, the minister said. He said the PTI government was giving special attention to the education sector as five-degree colleges in his constituency would be established whereas a technical University was approved in principle. The minister said that vocational training Institutes were being set up, adding that skilled force, professional training was need of the hour to meet the challenges and provide employment opportunities to the youth.

No compromise on national security: Governor Punjab
No compromise on national security: Governor Punjab

NAB summons Buzdar`s principal secy in graft case

 

LAHORE: The National Accountability Bureau (NAB) has initiated an investigation against Chief Minister Usman Buzdar`s most trusted lieutenant in the Punjab bureaucracy his Principal Secretary Tahir Khursheed and summoned him on July 8 in an income beyond means matter.

In a call-up notice on Friday, the Lahore NAB asked Mr Khursheed to present the record of his inherited properties on July 8.  The NAB also asked him to provide complete details of the movable and immovable properties owned/ acquired/purchased/sold/ disposed of by him and his family members.  `Details of investment in shares/companies by you and your family members, bank accounts held by you and your family members, copies of assets declarations pro formas submitted by you to the department and copies of income tax returns and wealth statements submitted to the [Federal Bureau of Revenue] should be provided to the bureau, the anti-graft watchdog directed Mr Khursheed. It is also investigating another provincial bureaucrat, Punjab Specialised Healthcare and Medical Education Secretary Nabil Awan, in an income beyond means case.  Mr Awan had appeared before the NAB Lahore twice last month to reply to queries regarding the property in the name of his father on Raiwind Road, alleged irregularities in billboard advertisements in the Gujranwala division and his shares in the University of Sargodha`s Faisalabad campus. The investigation is under way. Mr Khursheed was posted as principal secretary to the chief minister late last year by Mr Buzdar after serving in two other important departments communications and works, and local government and community development.

NAB summons Buzdar`s principal secy in graft case
NAB summons Buzdar`s principal secy in graft case