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Chairman PRCS engages in humanitarian collaboration with ambassador of Morocco

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ISLAMABAD, Apr 26 (APP): Chairman Pakistan Red Crescent Society (PRCS), Sardar Shahid Ahmed Laghari, held a courtesy meeting with Ambassador of the of Morocco in Pakistan, Mohammed Karmoune here on Friday.
This meeting that took place at the Embassy of Morocco marked a crucial moment in the humanitarian relationship between Pakistan and Morocco.
The meeting provided a platform for both parties to deliberate on matters of mutual interest, particularly focusing on humanitarian aid and disaster management. Chairman Laghari emphasized the substantial partnership between the two nations in addressing humanitarian challenges.
During the discussions, Chairman Laghari provided insights into the ongoing programs and projects of the Pakistan Red Crescent Society, emphasizing the organization’s commitment to serving vulnerable communities nationwide. He underscored the importance of international cooperation and solidarity in effectively addressing humanitarian crises, expressing gratitude for Morocco’s past participation in PRCS-organized events such as the International Donors Conference.
Chairman Laghari specifically emphasized PRCS’s anticipation of support from the Government of Morocco, especially in the recovery phase following the devastating Monsoon 2022 floods. He also expressed a strong desire to enhance cooperation, particularly with the Moroccan government, the Moroccan Red Cross, and other humanitarian organizations aligned with the Red Crescent mandate, aiming to alleviate the suffering of vulnerable communities in Pakistan.
The chairman extended an invitation to the ambassador to visit the PRCS which was graciously accepted.
Ambassador Mohammed Karmoune expressed gratitude to Chairman Laghari for the comprehensive information and insights provided regarding disaster management during the floods, noting the impressive execution. He commended the PRC Society for its relentless efforts, led by Chairman Sardar Shahid Ahmed Laghari, in providing assistance to those in need, especially during times of crisis.
The ambassador pledged to facilitate Chairman Laghari’s visit to Morocco, arranging meetings with counterparts from the Moroccan Red Cross and heads of humanitarian organizations. He recognized the indispensable role of humanitarian organizations like PRCS in mitigating human suffering and promoting resilience within communities.
Concluding the meeting, Chairman Laghari presented a memento to Ambassador Mohammed Karmoune, along with a souvenir, symbolizing the spirit of humanitarian collaboration.

CDA organizes E-Katchari to facilitate residents

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ISLAMABAD, Apr 26 (APP): The Estate Wing of the Capital Development Authority (CDA) on Friday organized an E-Katchari to facilitate the residents of the federal capital.
The E-Katchari was organised on the special instructions of Prime Minister Shehbaz Sharif, in which the online complaints of the citizens were received while considering the problems related to the Estate Wing in the sectoral and non-sectoral areas, said a news release.
The concerned officers of the estate department answered the citizens’ questions online in E-Katchari.
The online complaints were also received from all the sectors and areas of Islamabad on this occasion. It has also been assured by the authority that the complaints received will be addressed on a priority basis.
It should be noted that on the special instructions of the prime minister, the series of E-Katchari of various departments is continuing to facilitate the residents at their doorstep

SECP-IFSB workshop highlights Pakistan’s progress in Islamic Finance Development

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ISLAMABAD, Apr 26 (APP): A three-day capacity-building workshop on Islamic Capital Markets, jointly organized by the Security Exchange Commission of Pakistan (SECP) and the Islamic Financial Services Board (IFSB) concluded on Friday, highlighting Pakistan’s significant progress in developing the Islamic finance industry.
The workshop has designed to enhance the capacity of the officials of regulatory and supervisory authorities, said a news release issued here.
Chairman SECP Akif Saeed reiterated its deep commitment to support the continued development and expansion of the Islamic finance industry in Pakistan.
Referring to the historic judgment of the Federal Shariat Court and the government’s commitment to transform the entire financial system in accordance with Shariah principles, he pointed out that SECP has already accelerated its efforts and achieved considerable progress by enabling Islamic finance in all regulated sectors.
The SECP has revamped the Shariah governance framework and also issued guidelines for offering Islamic Financial Services that are enabling industry to achieve many firsts during the year.
These include Shariah certification of the first ever Shariah-compliant REIT schemes, dedicated asset management companies, Islamic income, money market, and equity funds, Islamic pension schemes, Islamic ETFs, an NBFC with buy-now pay-later platform, a stock brokerage house, and a microfinance company.
The regular issuance and listing of GoP Ijarah Sukuk through the stock market is another major breakthrough in the domestic sukuk market achieved during the year.
In addition, the corporate sukuk market in Pakistan is also witnessing renewed interest, however, it is dominated by short-term, privately placed sukuks, and during the year, the SECP approved 30 such sukuks worth Rs 153 billion. (Total 69 Sukuk, with a cumulative amount of Rs. 563.640 billion as of June 30, 2023).
The Chairman emphasized the need to enable the listing of short-term Sukuk as well, so as to expand the investor universe for the issuer as well as the investable universe for the investor.
Head of Islamic Finance at SECP Tariq Naseem expressed gratitude to IFSB and the esteemed trainers for their support in promoting Islamic finance.
He also shared that a comprehensive roadmap for capacity building in Islamic finance has been developed in partnership with IFSB Malaysia, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Bahrain, The Islamic Development Bank Institute (IsDBI) Jeddah, and The Centre for Excellence in Islamic Finance (CIEF) Alliance for Islamic Finance.
He said that Pakistan now stands ready to play its pivotal role in fostering an enabling environment for Islamic finance, one that encourages innovation, promotes investor confidence and ensures the integrity and stability of our financial system.
The workshop was attended by officials from the SECP, State Bank of Pakistan SBP, the Ministry of Finance, the Competition Commission of Pakistan (CCP), the Pakistan Stock Exchange (PSX), the Pakistan Mercantile Exchange (PMEX), Central Depository Company (CDC), and National Clearing Company of Pakistan Limited (NCCPL).

ECP’s code of conduct to be ensured during Tehsil Mayor by-elections: DPO Dera

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Dera Ismail Khan, Apr 26 (APP): District Police Officer (DPO) Dera Ismail Khan Nasir Mehmood on Friday said that strict implementation of the code of conduct issued by the Election Commission of Pakistan (ECP) should be ensured to maintain the law and order situation during by-elections on the seat of Tehsil Mayor of Daraban.
He stated this while chairing an important meeting in Ijaz Shaheed Police Line Dera regarding the upcoming by-elections on the seat of Tehsil Mayor of Daraban. The meeting was held to review the arrangements made by the police department for peaceful conduct of by-elections.
The meeting was attended by ASP Ali Hamza, DSP Daraban Muslim Khan, DSP HQ Syed Chan Shah, SHOs, Additional SHOs of different police stations and other officials.
The DPO said that the manner in which the Dera police performed their professional duties in the by-elections was admirable. He gave special instructions to the relevant sector in-charges regarding the ECP’s code of conduct and security duty.
He said that all available resources would be utilized for the peaceful conduct of the election and maintaining the atmosphere of law and order across the tehsil.

IESCO issues power suspension programme

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ISLAMABAD, Apr 26 (APP): Islamabad Electric Supply Company (IESCO) on Friday issued a power suspension programme for Saturday for various areas of its region due to necessary maintenance and routine development work.
According to IESCO Spokesman, the power supply of different feeders and grid stations would remain suspended for the period from 07:00 AM to 1:00 PM, Islamabad Circle, Lohi Bhir, NDC-1, I-10/3 Auto Workshop, PTCL I-9, I-10/2, New Exchange, U Phone I-9, Fazal Ghi I-9, SES I-9, NDC-2, Nescam feders, Rawalpindi City Circle, Khanna.II, KRL, C Block, Lakho Road Feeders, Rawalpindi Cantt Circle, Morgah, Fuji Foundation, Mohra Nagyal, Mehboob Shaheed, AOWHS, Wilayat Complex, X-Liar Colony, Pindi Board, Park View, Pepsi, Model Town, Humak, Dhok Awan, Zaraj.I&II, IST, RCC, Express, Emirate, Islamabad Feed Mill, Jhata Hatial, Bisali, Pind Jatla, Lab. I&II, Reliance Weaving Mill, Industrial, Bhal, Jarrar Comp, New Kaliam, Lala Zar, Major Riaz, Jhawara, Dhamial-I, Gulshan Saeed, Lalaktarti, Cantt, UC Lakhan, Shah Jeevan, Quaid-e-Azam Colony, Qasim Base Feeders, Jhelum Circle, Pran Feeder, Attock Circle, Mushtaq Shaheed, Jalala Feeders, Chakwal. Circle, Daulatala, Adi feeders, from 09:00 AM to 05:00 PM, GSO Circle, Nimble Feeder and surrounding areas.

SBP to announce monetary policy on April 29

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KARACHI, Apr 26 (APP): State Bank of Pakistan (SBP) will announce Monetary Policy on April 29, 2024 following the meeting of Monetary Policy Committee.
The central bank, in a statement issued here on Friday, announced that meeting of Monetary Policy Committee (MPC) of SBP will be held on April 29 to decide about the Monetary Policy.
The MPC will review overall financial and fiscal situation, major economic indicators, data of different sectors and major developments taken place since announcement of previous monetary policy. Later on, SBP will issue the Monetary Policy Statement on the same day.
The Monetary Policy Committee, in its previous meeting on March 18, 2024, decided to keep the policy rate unchanged at 22 percent noting that inflation expectations warranted a cautious approach.
The MPC also emphasized on timely realization of planned external inflows along with continued targeted fiscal consolidation for ensuring overall macroeconomic and price stability.