KARACHI CITY GOVT. WILL HONOR OUTSTANDING STUDENTS. DCO MOHAMMAD HUSSAIN SYED

DCO Karachi Mohammad Hussain Syed has said that in order to encourage the talented and outstanding youth, city government will hold a ceremony in honor of position holders in matric and intermediate examination. He expressed these views while speaking at the prize distribution ceremony for programs held as part of the Independence Day festival held in Arts Council of Pakistan Karachi. 

He said we have lot of expectations from our younger generation as they were not only highly talented but also engaged with the information technology. Our youth must pay full attention on acquiring quality education in whatever field they are. Later he distributed certificates and cash award among the students who took part in various events of Independence Day Celebrations. Arts Council President Ahmed Shah and Secretary Aijaz Farooqui also spoke on this occasion.

SECP deplores incorrect reports, comments

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has deplored recent reports and comments in a section of the press giving an impression that recent internal restructuring had abolished the legal function of the SECP and that all legal checks and balances had been removed.

The legal function continues to exist under a new name: Legislation and General Counsel Department (L&GCD). This move is completely in line with the best international practices followed by securities’ regulators in other jurisdictions such as such as the Securities Commission Malaysia, Australian Securities and Investment Commission, US SEC, etc.

The restructuring is the result of a well-thought-out decision made after thorough internal discussions and feedback from the SECP operating departments. It is aimed at improving the performance and efficiency of the organization. The SECP would like to emphasize that there is no change in policy with regard to any of the functions mandated to it under the laws administered by it.

The L&GCD will perform two important functions of legislation and giving legal advice to the SECP on the interpretation of laws administered by the SECP. The new structure will facilitate a focused approach on these two critical legal activities. The operating departments can solicit expert legal advice from the L&GCD on any legal issue.

Under the new structure operating departments have been provided with legal resources, enabling them to pursue litigation much more efficiently and rigorously. This will also improve quality and efficiency of these departments in other areas. This practice is not new to the SECP and existed before.

The SECP is striving for the development of a vibrant corporate sector and a capital market which is fair, transparent and efficient and in line with global best practices. Further measures are being taken to improve internal working and human resources of the SECP along with steps to develop sectors and markets.

First Women Bank and Pink Ribbon Pakistan join hands against cancer

The First Women Bank Limited (FWBL) and Pink Ribbon Pakistan (PRP) have entered into an agreement to promote the objective of PRP for providing cancer awareness among women through its branches across the country.

Shafqat Sultana, President First Women Bank and Omer Aftab, National Coordinator Pink Ribbon Pakistan signing the MoU.

The campaign stresses on women to undergo free clinical examination and free mammographic screening so as to be aware of the fatal disease ìcancer.î

The signing ceremony was also attended by Head of Legal Section Ms. Charmaine Hidayatullah, Company Secretary Ms. Shawana Yamin, Head of Marketing and PR FWBL Ms. Shaheen Zamir and Associate Pink Ribbon Pakistan Ms. Sameera Raja.

Sindh High Court stops CPNE former office-bearers from using bank account

Ilyas Shakir
Editor Qaumi Akhbar

A two-member Sindh High Court (SHC) bench headed by Chief Justice Musheer Alam with Justice Hasan Azhar Rizvi as the other member has restrained the former office-bearers of CPNE (Khushnood Group) from using the CPNE accounts. The learned court passed the interim order on a constitutional petition filed by Ilyas Shakir, editor Qaumi Akhbar and secretary general CPNE.

In his petition Ilyas Shakir has submitted that he is one of the elected office-bearers of CPNE but the former office-bearers still occupy the premises of the registered office of CPNE. The petitioner prayed to the court to appoint a Nazir who should take possession of the office. He further prayed that order be passed for fresh elections to be held under the supervision of Nazir so that genuine and elected office-bearers could run the CPNE affairs.

The SHC has called for reply from the respondents on 26 May, 2011. The learned court has also summoned Advocate General Sindh and Deputy Attorney General on the date.(The News)

Abbottabad incident: Corps Commanders’ Conference held at GHQ

138th Corps Commanders’ Conference was held today at General Headquarters Rawalpindi. General Ashfaq Parvez Kayani, Chief of Army Staff (COAS) chaired the meeting.

One point agenda was the Abbottabad incident in which Osama Bin Laden was killed by US forces. The Forum discussed the incident and its implications and on military to military relations with the United States.

Chief of Army Staff, General Ashfaq Parvez Kayani presiding over the 138^th Corps Commanders’ Conference  held  at General Headquarters Rawalpindi on Thursday. (5-5-2011) - Photo ISPR

While admitting own shortcomings in developing intelligence on the presence of Osama Bin Laden in Pakistan, it was highlighted that the achievements of Inter Services Intelligence (ISI), against Al Qaeda and its terrorist affiliates in Pakistan, have no parallel. The Forum was informed that around 100 top level Al Qaeda leaders / operators were killed / arrested by ISI, with or without support of CIA. However, in the case of Osama Bin Laden, while the CIA developed intelligence based on initial information provided by ISI, it did not share further development of intelligence on the case with ISI, contrary to the existing practice between the two services. Nonetheless, an investigation has been ordered into the circumstances that led to this situation.

COAS made it very clear that any similar action, violating the sovereignty of Pakistan, will warrant a review on the level of military / intelligence cooperation with the United States.

The Corps Commanders were informed about the decision to reduce the strength of US military personnel in Pakistan to the minimum essential.

As regards the possibility of similar hostile action against our strategic assets, the Forum reaffirmed that, unlike an undefended civilian compound, our strategic assets are well protected and an elaborate defensive mechanism is in place.

The Forum, taking serious note of the assertions made by Indian military leadership about conducting similar operations, made it very clear that any misadventure of this kind will be responded to very strongly. There should be no doubt about it.

The Forum reiterated the resolve to defend the sovereignty and territorial integrity of Pakistan and to fight the menace of terrorism, with the support and help of the people of Pakistan.

DELEGATION OF LAKHI MARWAT DISTRICT BAR CALLS ON HCJP IFTIKHAR MUHAMMAD CHAUDHARY

A 10 Member delegation of Cabinet Members of Lakhi Marwat District Bar headed by President, Mr. Najeebullah and consisting other office bearers called on the Hon’ble Chief Justice of Pakistan Mr. Justice. Iftikhar Muhammad Chaudhary today i.e. 15.03.2011 in Supreme Court Building, Islamabad.

The Hon’ble Chief Justice of Pakistan congratulated the Bar Members and said, “a lawyer being a professional, always remains in the pursuit of the legal knowledge and he always remains a student of law in his whole life”.

The delegation thanked the Hon’ble Chief Justice of Pakistan and praised the National Judicial Policy which proved fruitful for lawyers as well as litigants and enhanced the public confidence in courts by providing a speedy and expeditious disposal to them. Further, they informed his lordship that due to the Policy, almost all the old cases have been disposed of in their District and they have achieved the target of speedy justice. Moreover, due to the Judicial Policy the strength of lawyers has increased and they have been encouraged to join the profession of law. The delegation informed his lordship that the movement of rule of law, supremacy of Constitution and independence of judiciary instilled a new spirit and provided a common platform to lawyers to cooperate with one another.

The delegation invited Hon’ble Chief Justice of Pakistan to visit Lakhi Marwat Bar, his lordship conveyed his gratitude, extended his thanks and assured to visit them in suitable time

Banking Court acquits Hanif Kalia, Munaf Kalia, Javed Khanani and others in Money laundering case

Hanif Kalia

Judge Mir Muhammad Sheikh of Banking Court Karachi Friday acquitted for lack of evidence three directors of M/s Khanani & Kalia International in money laundering scam of 2008.

Hanif Kalia, his brother Munaf Kalia, partner Javed Khanani with other accused Atif Aziz Polani and some bank managers were facing trial under Pakistan Penal Code, Foreign Exchange Regulation Act 1947 & Pakistan Electronic Crimes Ordinance 2007.

Munaf  Kalia

According to prosecution, FIA arrested Hanif Kalia, Munaf Kalia & Javed Khanani on allegation of illegally transferring money through Hawala in 2007. FIA arrested them from Karachi and Lahore, sealing offices of K&KI across country. FIA Crime Circle Karachi registered case against them (FIR 76/2008) US 406, 409, 420, 468, 471, 477A, 109 PPC RW Sections 5/8, 22/23 Foreign Exchange Regulation Act 1947 & Sections 7, 8, 20 Prevention of Electronic Crimes Ordinance 2007.

Javed Khanani

FIA widening scope of investigation also arrested co-accused Masood Abbas, Syed Wajahat Ali of Allied Bank Limited’s Bahadurabad branch, Tehsin Ahmed of Habib Bank Limited Hasan Square & Arifur Rehman of MyBank Cloth Market Branch Karachi.

On Friday, Justice Mir Muhammad Sheikh pronounced verdict, acquitting all accused due to lack of evidence. They were already acquitted in case registered under PECO 2007 by Judicial Magistrate concerned, who was heading special tribunal to deal such cases.