President gives assent to bills of Modaraba Cos, NFC Institute

President Asif Ali Zardari

SLAMABAD, : President Asif Ali Zardari Friday gave assent to two Bills to empower the Securities and Exchange Commission of Pakistan to make regulations and for establishment of NFC Institute of Engineering and Technology Multan.

The President gave the assent on the advice of Prime Minister Syed Yusuf Raza Gilani to the Modaraba Companies and Modaraba (Floatation and Control) (Amendment) Bill 2012 and the NFC Institute of Engineering and Technology Multan Bill 2012. The Modaraba Companies Bill seeks to empower the Securities and Exchange Commission of Pakistan to make regulations and issue directives, circulars, codes and guidelines for the purposes of Modaraba Companies. – App