Month: July 2026

Islamabad: Prime Minister Muhammad Shehbaz Sharif on Wednesday directed the Daanish Authority Board that all under-construction Daanish Schools should be completed within the stipulated time frame, with no delays tolerated in the process.

The prime minister chaired the first meeting of the Daanish Authority Board here, during which he issued a series of directives aimed at expanding quality education opportunities for underprivileged children across the country, a Prime Minister’s Office news release said.

Welcoming the board members and participants, the prime minister thanked them for accepting the important responsibility, saying providing equal opportunities of education and development to economically disadvantaged children remained a top priority of the government.

He said Danish Schools were established on the philosophy of providing merit-based admission and education to poor and deserving students, and reiterated the government’s commitment to carrying that mission forward.

He also directed that hundred percent boarding facilities be provided for both male and female students in all under-construction as well as new Danish Schools, to ensure a conducive learning and living environment.

Prime Minister Shehbaz Sharif directed that, in collaboration with the Ministry of Information Technology, training in IT, artificial intelligence, robotics and other contemporary technologies be made a mandatory part of the curriculum at Danish Schools.

He further instructed that the curriculum incorporate project- and skill-based learning, along with courses aimed at grooming the personality and character of students.

The meeting was briefed on the recent progress and performance of the Danish Schools initiative. It was informed that 29 Danish Schools were currently proposed across the country, of which 15 had been approved and construction was under way on 13, while classes had already commenced at Danish School Kuri, Islamabad.

The board was told that construction of Danish Schools in Bagh and Bhimber in Azad Kashmir, and in Ghanche, Sultanabad and Astore in Gilgit-Baltistan, would be completed by December this year, with classes to begin from April 2027.

The Danish Authority Board approved the establishment of an international-standard Teachers’ Training Institute for capacity building of Danish School faculty. Once established, the institute will serve as a model institution for training bodies across Pakistan.

The meeting was also briefed on the proposed administrative structure of the Danish Authority. The prime minister directed that the authority’s administrative structure be kept lean, with minimal expenditure of resources.

The board granted in-principle approval to the Danish School Authority Rules, Managing Director Rules and other related regulations, after which the requisite regulatory process will be completed.

The meeting also approved the transfer of all land allotted for Danish Schools to the ownership of the Danish School Authority.

Islamabad: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Wednesday held a warm and productive one-on-one with Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Foreign Minister of the State of Kuwait, at the Ministry of Foreign Affairs.

During the meeting, the two leaders reviewed the full spectrum of Pakistan-Kuwait bilateral relations and reaffirmed their shared commitment to further strengthening the longstanding brotherly partnership.

They also held in-depth discussions on regional and international developments, with particular focus on the evolving situation in the Middle East.

Islamabad: A fire that broke out on the top floor of a commercial building in I-8 Markaz was brought under control after a rescue operation by the fire brigade, according to the district administration.

Firefighters responded quickly and remained at the site until the flames were extinguished. Cooling work is now underway to prevent the fire from spreading again.

The district administration said the fire started on the top floor of the commercial building. Fire brigade vehicles were sent to the scene and worked to control the blaze. During the operation, the Assistant Commissioner I-9 remained present at the site and monitored the response.

After the fire was brought under control, the district administration confirmed that the cooling process had started. Officials said the cause of the fire is being investigated, and a detailed assessment will be carried out after the site is declared safe.

The rescue operation was supervised by the Assistant Commissioner Industrial Area, who remained in contact with emergency teams throughout the operation.

Authorities have not reported any casualties or injuries so far. Further updates will be shared after the investigation into the cause of the fire is completed and the final inspection of the building is carried out.

Islamabad: In a landmark move to strengthen the ease of doing business in the federal capital, the Capital Development Authority (CDA) and the Islamabad Chamber of Commerce and Industry (ICCI) have reached a principled agreement to establish a Business Facilitation Centre (BFC) at the CDA, offering the business community a one-window platform for faster, more efficient resolution of regulatory and administrative matters.

The breakthrough was achieved during a meeting between Chairman Capital Development Authority (CDA) Lt. (Retd.) Sohail Ashraf, who also serves as the Chief Commissioner of Islamabad, and an ICCI delegation led by President Sardar Tahir Mehmood, said a press release.

Establishment of the proposed business centre was reflecting a shared commitment to creating a more investor-friendly business environment, streamlining public services, and removing obstacles to commercial growth.

Under the proposed Business Facilitation Centre, entrepreneurs, investors and traders will be able to access multiple CDA-related services through a single platform, significantly reducing procedural delays and improving coordination with relevant departments.

In another major decision, the CDA Chairman agreed to undertake a comprehensive review of Floor Area Ratio (FAR) charges in response to concerns raised by the business community.

He assured the delegation that all legitimate issues affecting traders, developers and investors would be addressed through practical, transparent and business-friendly measures aimed at encouraging investment and accelerating commercial activity.

Reaffirming the Authority’s commitment to the private sector, the CDA Chairman said the business community is a key driver of Pakistan’s economic growth and assured that the CDA would continue to facilitate investment, promote ease of doing business, and provide every possible support for sustainable economic development.

The meeting also featured detailed discussions on a wide range of issues, including Estate Management-I (EM-I), Estate Management-II (EM-II), affectees, land-related matters, rehabilitation, the Building Control Section (BCS), the real estate sector, and other administrative challenges confronting businesses in Islamabad.

Speaking on the occasion, ICCI President Sardar Tahir Mehmood said that investor confidence is built on efficient governance, predictable regulations and strong institutional cooperation.

He welcomed the establishment of the Business Facilitation Centre and the decision to review FAR charges, describing them as transformative initiatives that would substantially improve the ease of doing business, resolve longstanding concerns of the business community, and reinforce Islamabad’s position as a preferred destination for investment and enterprise.

Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has imposed over Rs. 4.73 billion in penalties across 531 adjudication proceedings between February and June 2026.

Since the new Commissioners assumed charge in February, the SECP has stepped up its enforcement drive to strengthen compliance with corporate governance and regulatory requirements across listed and unlisted companies, financial institutions, and the insurance sector, reinforcing market integrity and protecting investors.

In the realm of listed companies, a total of 99 proceedings were concluded for various violations of the Companies Act, 2017 (the Act), and the relevant regulatory framework, resulting in the imposition of penalties exceeding Rs. 9.10 million.

Common violations included failure to hold statutory meetings on time, non-compliance with statutory disclosure and reporting requirements, breaches of corporate governance provisions, and non-compliance with financial reporting obligations.

Violations also included failure to ensure the required composition of Boards of Directors, including the appointment of independent and female directors.

These requirements are essential to protecting shareholders’ rights, particularly those of minority shareholders.

Under the capital markets regulatory framework, the SECP concluded 69 proceedings involving violations of the Securities Act, 2015, and the Anti-Money Laundering Act, 2010.

These proceedings resulted in regulatory directions for rectification and penalties exceeding Rs. 1.61 million. The violations included non-compliance with takeover regulations, beneficial ownership disclosure requirements, and corporate governance provisions.

Similarly, effective enforcement action was taken against Non-Banking Finance Companies (NBFCs) through the conclusion of 53 proceedings, resulting in the imposition of penalties exceeding Rs. 1.47 million.

The proceedings related to violations of the applicable regulatory framework, including deficiencies in customer verification, compliance with targeted financial sanctions and other requirements under the Anti-Money Laundering Act, 2010, as well as other applicable regulatory requirements.

In the insurance sector, 25 proceedings were concluded through adjudication orders, resulting in penalties exceeding Rs. 2.11 million.

The violations mainly related to non-compliance with requirements for the timely settlement of policyholders’ claims, insurers’ solvency requirements, reinsurance arrangements, the Anti-Money Laundering Act, 2010, and other applicable regulatory requirements.

Against private and unlisted companies, 285 adjudication proceedings were concluded during the reporting period, resulting in the imposition of penalties amounting to Rs. 4.7 billion.

These included penalty orders against three companies and their directors for engaging in illegal deposit-taking activities in contravention of Section 84 of the Companies Act, 2017.

Additionally, the Commission placed special emphasis on enforcing compliance by State-Owned Enterprises (SOEs) with the provisions of the Companies Act, 2017.

In this regard, 117 adjudication orders were passed against SOEs, of which 87 resulted in the imposition of penalties, while 30 companies were issued warnings after rectifying the identified non-compliances during the adjudication proceedings.

Chairman SECP Dr. Kabir Ahmed Sidhu said, “Compliance with the law is not optional. Our enforcement actions send a clear message that violations will not be tolerated. We will continue to uphold the highest standards of corporate governance, protect investors, and ensure transparent, fair, and accountable markets.”

Islamabad: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) remained under selling pressure on Wednesday, losing 1,580.90 points, a negative change of 0.89 percent, to close at 176,042.99 points against 177,623.88 points recorded in the previous trading session.

The ready market witnessed a trading volume of 574.076 million shares, compared to 958.014 million shares traded on Tuesday, while the traded value declined to Rs25.369 billion from Rs41.566 billion. Market capitalisation also fell to Rs19.778 trillion from Rs19.951 trillion recorded a day earlier.

Out of 495 companies that traded in the ready market, 129 posted gains, 330 suffered losses, while 36 remained unchanged, reflecting a predominantly bearish trend across the market.

Cnergyico PK led the volume chart with 58.656 million shares, followed by Siddiqsons Tin with 50.224 million shares and WorldCall Telecom with 48.952 million shares.

Among the top gainers, Unilever Pakistan Foods Limited surged by Rs177.08 to close at Rs25,480.00, while Khyber Textile Mills Limited advanced by Rs90.12 to settle at Rs2,088.41.

On the losing side, PIA Holding Company LimitedB declined by Rs495.32 to close at Rs17,674.68, while Khairpur Sugar Mills Limited fell by Rs133.71 to Rs1,203.44.

In the futures (DFC) market, turnover stood at 400.821 million shares with a traded value of Rs18.079 billion, compared with 510.216 million shares worth Rs21.937 billion in the previous session.

Of the 304 companies traded in the futures market, 37 advanced, 266 declined and one remained unchanged.