Latest news with #NafisaShah
Business Recorder
14-05-2025
- Business
- Business Recorder
SECP tells Senate panel: CSR compliance for listed cos a must
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), Tuesday, informed the Senate Standing Committee on Finance that listed companies are required to duly comply with the corporate social responsibility (CSR) requirements in the country. The SECP officials informed Senate Standing Committee on Finance Tuesday that the SECP has given responsibility to the Boards of the listed companies to deal with Environmental, Social, and Governance (ESG) considerations and Gender Equality and Diversity and Inclusion (DE&I). Senate Standing Committee on Finance, Tuesday, also sought comments of NGOs on 'The Corporate Social Responsibility Bill 2025'to provide for the corporate social responsibility for companies, banks, and SOEs (State-owned enterprises) with matters arising out of or connected therewith. The sub-committee, headed by Dr Mirza Ikhtiar Baig, MNA, reviewed the private members bill introduced by Dr Nafisa Shah, MNA, by inviting experts and stakeholders. The SECP officials informed about the CSR reforms undertaken by the SECP including CSR reporting guidelines, integration of CSR into Code of Corporate Governance as well as capacity building and awareness programs to educate companies on CSR. The SECP officials added that they aim to build a strong and growing corporate sector that is attractive to both domestic and foreign investors, ensuring economic stability. The committee assessed the implications and potential impact of the legislation based on their findings. MNA Ali Sarfraz recommended constitution of a separate government department for regulating/spending the funding of the CSR. Till a federal department is not constituted, there are apprehensions of wastage of CRS funds. The government needs to issue guidelines after collection of CRS funds. Among stakeholders, CEO of a company disclosed that it is a wrong impression that the corporate sector is earning huge profits. All chambers are spending reasonable amount of funds on CSR activities. The family NGOs are reregistered as per government rules/regulations. Through family NGOs, funds are allocated to poor segments of the society. Under the proposed law, every company excluding the non-profit, or charitable companies, incorporated under the provisions of the Companies Act, with a turnover of more than Rs1 billion shall earmark not less than one percent of its net profit which shall be spent for activities or projects relating to corporate social responsibility as provided in the Schedule under the provisions of this Act. Provided that companies with less turnover shall follow the guidelines issued by the SECP. The Board of Directors of the company shall ensure that the company shall spend the amount earmarked under sub-section (l), of this section in pursuance of its Corporate Social Responsibility Policy. Copyright Business Recorder, 2025
Express Tribune
13-03-2025
- Politics
- Express Tribune
No official visa ban on Pakistanis, UAE clarifies
The United Arab Emirates (UAE) has confirmed that there is no official visa ban on Pakistani nationals, Pakistan's Ministry of Foreign Affairs (MoFA) informed the National Assembly in a letter, local media reported on Thursday. Responding to a query from lawmaker Dr Nafisa Shah, the ministry stated that the UAE Embassy in Islamabad had clarified the matter. According to the embassy, the UAE's Federal Authority for Identity, Citizenship, Customs, and Port Security has introduced a new five-year visa policy with additional requirements. Under the revised policy, applicants must provide round-trip tickets, hotel bookings, proof of property ownership (if applicable), and a down payment of 3,000 Emirati dirhams (AED). The ministry noted that while there is no formal ban, several factors have contributed to increased scrutiny of Pakistani applicants. These include cases of individuals submitting fake degrees, fraudulent employment contracts, and incidents of visa overstays. Some Pakistani nationals have also been implicated in political and criminal activities. Additionally, UAE authorities have expressed concerns over the misuse of social media by certain members of the Pakistani community. The Pakistan Embassy in Abu Dhabi has been engaging with UAE officials at ministerial and under-secretary levels to address these issues. Senior officials from MoFA's Middle East Division have also raised the matter with the UAE Embassy in Islamabad. To facilitate smoother visa processing, the ministry has been sharing recommendation letters with the UAE Embassy in Islamabad. Emirati authorities have reiterated that there is no official restriction on Pakistani applicants.
Express Tribune
12-02-2025
- Politics
- Express Tribune
NA panel calls for women's rights reforms
ISLAMABAD: The National Assembly Special Committee on Gender Mainstreaming on Tuesday urged the immediate establishment of the National Commission on the Status of Women at the federal level. It also called for the formation of provincial commissions and Gender Mainstreaming Committees to ensure the enforcement of equal rights as guaranteed by the Constitution. Chaired by MNA Dr. Nafisa Shah, the committee recommended the development of consistent and synchronized data to support gender mainstreaming and reporting at national and international levels. Expressing concern over the lack of implementation of the 10% quota for women in civil services, the committee noted that only 49,508 out of 1.2 million government employees are women, with most occupying lower-grade positions. The panel stressed the urgent need for both federal and provincial governments to establish institutional frameworks to address gender disparities in education, health, employment, and political participation. Additionally, the committee recommended that budget allocations for development schemes should be non-discriminatory between members elected on general and reserved seats.
