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PSX loses 956.42 points

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ISLAMABAD, Aug 8 (APP): The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Tuesday, losing 956.42 points, a negative change of 1.98 per cent, closing at 47,429.83 points against 48,386.25 points the previous trading day.

A total of 336,078,121 shares were traded during the day as compared to 381,855,144 shares the previous day, whereas the price of shares stood at Rs12.547 billion against Rs 14.528 billion on the last trading day.

As many as 338 companies transacted their shares in the stock market; 47 of them recorded gains and 275 sustained losses, whereas the share price of 16 companies remained unchanged.

The three top-trading companies were Cnergyico Pk with 28,316,392 shares at Rs 3.47 per share; Oil and Gas Dev with 27,785,286 shares at Rs.97.85 per share and K-Electric Ltd with 24,628,760 shares at Rs.2.10 per share.

Khyber Textile witnessed a maximum increase of Rs 55.00 per share price, closing at Rs 949.00, whereas the runner-up was Gatron Ind. with an Rs 8.81 rise in its per share price to Rs 228.99.

Sapphire Tex. witnessed a maximum decrease of Rs 87.31 per share closing at Rs 1077.56; followed by Nestle Pakistan XD with Rs 70.01 decline to close at Rs 6999.99.

President directs to restore property to a woman awaiting possession for 20 years

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ISLAMABAD Aug 08 (APP): President Dr Arif Alvi has directed the restoration of property to a female citizen who was being deprived of the ownership of her two plots for the last 20 years by a housing society despite the fact that she had registered sale deeds and had paid all the development charges.

The president gave these directions while rejecting a representation filed by M/s University Town (Pvt) Ltd against the orders of the Federal Ombudsman for Protection against Harassment of Women at Workplace (FOSPAH) under the Enforcement of Women’s Property Rights Act, 2020, President Secretariat Press Wing said in a press release on Tuesday.

Asma Kokab (the complainant) had filed a complaint before FOSPAH alleging that the society sold her two plots measuring 10 and 5 marlas through registered sale deeds in 1997, but despite the payment of all dues, including the cost of land and development charges, she had not been given possession of the plots.

FOSPAH passed the orders in her favour directing the concerned revenue officer to restore possession of her property and if needed, seek assistance from the concerned police officer for the purpose of implementing the orders. University Town, then, filed a representation before the president against the orders of FOSPAH.

The president held a personal hearing of the case at Aiwan-e-Sadr in which the son of the complainant and CEO of University Town, Abdul Aziz, along with his counsel appeared.

The counsel of the town contended that the complainant had not paid development charges despite repeated notices, after which the cancellation of the allotment letter was issued.

He said that she was asked to surrender the registered sale deeds for the restoration of her plots but she failed to do so and had also not paid the electricity and water supply charges. The counsel further argued that FOSPAH’s orders were not based on law and facts, and should be set aside.

When the complainant’s son presented payment receipts of development charges of the plots as evidence, the counsel denied the receipt of charges. The president berated University Town for failing to keep a record of the payments made by the complainant and noted that the complainant had produced payment receipts of development charges of the plots which had been exhibited in evidence.

He also expressed displeasure that the matter had been allowed to linger for almost 20 years, and an overseas Pakistani was made to run from pillar to post to get possession of her mother’s plots.

The president observed that the appraisal of evidence available on record established that the complainant was the owner of the two plots and the registered sale deeds had been executed in her favour by Abdul Aziz Khan, CEO of University Town, adding that CEO had not denied this fact.

He said that the stance of Abdul Aziz Khan that the complainant had not deposited the outstanding dues of the plots stood rebutted through the receipts of payments produced by the complainant.

“The society is persistently asking the complainant to surrender the registered sale deeds for processing her case for possession of plots. This has no logic as the apprehension of the complainant regarding the surrender of registered sale deeds to the society is genuine because without giving possession, the society is unjustified to demand its surrender”, he said.

During the course of the hearing, the CEO also admitted the unjustified denial of possession of plots to the complainant and promised/agreed to give possession of the plots to the complainant.

The president remarked that it was highly deplorable that the overseas Pakistanis, who were an asset to the country, were deprived of their fundamental right of protection of property as Article 24 of the Constitution of the Islamic Republic of Pakistan, 1973 envisaged that no person shall be deprived of his property save in accordance with the law. “The concrete steps are required to be taken to address the grievances of the overseas Pakistanis, especially women, as to enjoy the protection of the law is the inalienable right of every citizen, including overseas Pakistani, and no action detrimental to the property of any overseas Pakistani is allowed to be taken arbitrarily”, he concluded.

BISP women beneficiaries to get free cancer treatment soon: Faisal Kundi

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DERA ISMAIL KHAN, Aug 08 (APP): Minister of State for Poverty Alleviation and Social Safety Faisal Karim Kundi on Tuesday said the Benazir Income Support Programm(BISP) would collaborate with the State Life Insurance Corporation of Pakistan(SLIC) to provide free cancer treatment facilities to women beneficiaries across the country.

He expressed these views while jointly inaugurating the Khyber Pakhtunkhwa Zone of State Life Takaful in Dera Ismail Khan with Chairman State Life Insurance Corporation Pakistan Shoaib Javed Hussain here at a local hotel.

Faisal Karim Kundi said that a proposal was being worked out and the agreement would soon be inked with the SLIC soon, enabling the BISP to shore up the country’s women of poor families to have free treatment facilities for the deadly disease.

He said the BISP system had been made hassle-free and the payments to the beneficiaries were made more transparent through a new disbursement mechanism of transferring amounts through bank accounts.

He said that PPP believed in practical measures to extend relief to the masses and the introduction of such peoples’ welfare-oriented measures were testifying in that regard.

He also welcomed the opening of State Life First Takaful Zone DIKhan, saying the initiative would help generate job opportunities by boosting business activities in the region.

He also appreciated the SLIC chairman for making efforts to launch the initiative from Dera Ismail Khan.

The SLIC chairman Shoaib Javed Hussain said the event was taking place under the vision of Faisal Karim Kundi to provide financial and health protection to the people of Dera Ismail Khan, adding under the same vision of Shaheed Zulfiqar Ali Bhutto, the corporation was established in 1972.

He said in every era, our scope had been increasing, and the business from the Takaful zone in Dera Ismail Khan flourished, leading to social and economic prosperity in the area.

State Life Manager Muhammad Sajid highlighted the role of State Life in economic development and the features of the Islamic economic system.

He said that the establishment of the Takaful Khyber Pakhtunkhwa Zone in Dera Ismail Khan by Faisal Karim Kundi became the pioneer of the mission to serve people.

BBISE dispatches 72408 certificates pending for 33 years

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QUETTA, Aug 08 (APP): Balochistan Board of Intermediate and Secondary Education (BBISE) Quetta has delivered 72408 certificates to the successors, pending for 33 years due to incomplete address.

The dispatched certificates include matriculation pending from 1990 to 2014 and intermediate from 1990 to 2019 to the branches of the board, BBISE chairman Mir Ejaz Azeem Baloch told APP on Tuesday.

The students of the said period were informed to collect their certificates from the board branch located in their respective areas, he added.

Chairman BBISE has taken strict notice of the non-delivery of such a large number of credentials to the aspirants.

Chairman said negligence in duties would not be tolerated and action should be taken against the involved person.

He said that students should register their addresses correctly to avoid delays in getting credentials.

Strenuous efforts steer Pakistan out of most difficult times: PM

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RAWALPINDI Aug 08 (APP): Prime Minister Muhammad Shehbaz Sharif on Tuesday said that owing to the relentless efforts of the incumbent government, Pakistan had been out of the most difficult times.

Addressing a ceremony at the Army Auditorium, General Headquarters (GHQ), to honour the supreme sacrifices of Shuhada and Ghazis, the prime minister stressed that they all had to strive to rebuild Pakistan collectively.

He said 75 years had passed since the creation of Pakistan which came into being due to hard work by the Great Quaid, the Founder of the Nation, whose vision still remained unfulfilled.

The ceremony was attended by Chief of Army Staff General Syed Asim Munir, officers, ministers and families of Shuhada and Ghazis.

The prime minister said that the incumbent government would complete its term on Wednesday (tomorrow) and after which they would hand over the reign of the government to an interim set-up in accordance with the Constitution.

A comprehensive plan was put in place for the progress and prosperity of the country by the incumbent government, he said, adding the Special Investment Facilitation Council (SIFC) had given that vision for the progress of Pakistan with the development of agriculture, minerals and IT sectors.

He further said that under that plan, foreign investment worth billions of dollars would be made in the country.

The prime minister termed the ceremony to honour Shuhada and Ghazis as a dignified occasion to pay tribute to their great sacrifices.

They had made Pakistan more secure with their sacrifices and saved it from the evil designs of the enemies, he added.

He said that they had laid down their lives for the defence of the country by setting unmatched precedents of bravery, valour and sacrifice, adding that the nation had been rendering sacrifices since the creation of Pakistan.

On 14th August, he said, Pakistan would celebrate its 76th anniversary. The nation had to traverse the path carved out by their Shuhada to make Pakistan a prosperous and developed country.

The prime minister underlined that for the elimination of poverty and unemployment, they should rid Pakistan of foreign debts with sincerity, devotion and hard work.

On the Independence Day, they should pledge to work day and night for the country as much water had already flown under the bridges, he added.

“Shuhada and Ghazis are our pride and their respect and honour is binding on each Pakistani. We must never forget that the peace and freedom we enjoy today is due to the ultimate sacrifices rendered by these brave sons of the soil. I salute their families for sacrificing their loved ones for Pakistan,” he added.

The prime minister said that it was now their earnest duty that they realised the supreme sacrifices of Shuhada and Ghazis into the prosperity and well-being of each Pakistani.

He further said that those who resorted to desecration of monuments of Shuhada, their faces would remain blackened in the history of the country and the proud people of Pakistan would never forget them.

On the occasion, the prime minister appreciated the efforts of Chief of Army Staff General Syed Asim Munir and his team and the present federal and provincial governments for the bright and prosperous future of Pakistan.

The ISPR, in a press release, said that the prime minister paid a farewell visit to the GHQ. Upon arrival, he was received by the COAS.

The prime minister met the Principal Staff Officers (PSOs) and was presented with the Guard of Honour and laid a wreath at the Yadgar-e-Shuhada.

He appreciated the role of armed forces in protecting the territorial integrity of the country and robustly fighting the menace of terrorism across Pakistan.

He also distributed cheques of Special Financial Assistance amongst 70 families of the martyrs and 30 War Wounded Persons. Laptops were also distributed among the wards of Shuhada who are undergoing their academic pursuits.

ICCI and CDA to join hands for tree plantation drive in Capital

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ISLAMABAD, Aug 8 (APP): Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with the Capital Development Authority (CDA) would jointly launch a tree plantation drive in the capital under the Go Green Campaign to promote a healthy environment by making Islamabad greener.

Member Environment CDA Captain (R) Anwar ul Haq Tuesday visited ICCI along with Director General Environment Xenia Hamayun Sanik and Director Environment Akhtar Rasool and asked the chamber to join hands with CDA to promote the tree plantation drive in the Capital as support of the business community is very important in making this drive successful.

He said that the CDA is ready to give a piece of land to ICCI for tree plantation so that the business community can plant maximum saplings there and also take responsibility for their maintenance and upkeep. He said that CDA will identify the species of plants while the business community can also select the species in consultation with CDA.

He said that filtration plants and washrooms are ready in many sectors and CDA is ready to hand over these facilities to the concerned market associations if they take responsibility for their maintenance and operation with their own resources.

He said that the CDA is also ready to allow ICCI to display its digital logo on the Zero Point Bridge and maintain it with its own resources. He said that allergy-causing trees like paper mulberry are being eliminated in Islamabad to save people from allergies.

Speaking on the occasion, President ICCI Ahsan Zafar Bakhtavari said that the chamber had earlier planted thousands of saplings in Islamabad under the Go Green campaign in collaboration with CDA and with the support of the business community, the plantation campaign in the markets will be carried out in an effective manner to promote a healthy environment by making Islamabad greener and greener.

He said that along with planting new trees, a strategy should be made for proper maintenance of old trees so that they can be kept safe. He said that the CDA should organize entrance and exit gates in the markets with the help of the Chamber, which will increase the beauty of the city.

Speaking on the occasion, Senator Senator Lt. Gen. (Retd) Abdul Qayyum Khan appreciated the efforts of CDA to carry forward the plantation drive. He said that the keen interest of the business community in making the plantation campaign successful in collaboration with CDA for the promotion of a healthy environment is commendable.