LYV EQUITY ALERT: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Live Nation Entertainment, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – LYV

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Live Nation Entertainment, Inc. (NYSE: LYV) between February 23, 2022 and July 28, 2023, both dates inclusive (the “Class Period”). A class action lawsuit […]

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Live Nation Entertainment, Inc. (NYSE: LYV) between February 23, 2022 and July 28, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 3, 2023.

SO WHAT: If you purchased Live Nation securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Live Nation class action, go to https://rosenlegal.com/submit-form/?case_id=18184 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 3, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) Live Nation engaged in anticompetitive conduct, including charging high fees and extended contracts with talent, and retaliated against venues; (2) that, as a result, Live Nation was reasonably likely to incur regulatory scrutiny and face fines, penalties, and reputational harm; and; (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Live Nation class action, go to https://rosenlegal.com/submit-form/?case_id=18184 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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Pakistan’s Khan appeals his conviction in graft case, seeks release

Pakistan’s former Prime Minister Imran Khan has appealed his conviction and three-year prison sentence in a graft case.Naeem Haider Panjutha, Khan’s lawyer, said on Tuesday that the Islamabad High Court will hear the appeal on Wednesday.In the appeal,…

Pakistan's former Prime Minister Imran Khan has appealed his conviction and three-year prison sentence in a graft case.

Naeem Haider Panjutha, Khan's lawyer, said on Tuesday that the Islamabad High Court will hear the appeal on Wednesday.

In the appeal, Khan’s lawyers said the former premier’s conviction should be "set aside" and declared "illegal and without lawful authority." It also requested the court acquit Khan, claiming he was arrested illegally.

Panjutha told reporters outside the Islamabad High Court that they are also seeking better facilities for Khan through another petition which has also been filed in the Islamabad High Court.

It's the latest turn in Khan's legal drama after being ousted in a no-confidence vote in April 2022. He remains the country’s leading opposition figure and was convicted and jailed on Saturday on charges of concealing assets after selling state gifts he received while in power.

The former cricket star has denied the charges, saying he did not violate any laws.

On Monday, Panjutha told reporters that the former premier was in good spirits and maintaining "a high morale" despite the harsh conditions at the Attock jail. The prison was established in 1905 during British colonial rule, which ended in 1947 when Pakistan and neighbouring India became independent.

The jail is known for holding convicted militants and the most hardcore criminals during trial proceedings. Panjutha has said Khan is being held in a "small room at the prison where there is no air conditioner and where there are flies in daytime and insects at night."

Khan's legal team has also approached another court in Islamabad to seek better facilities for Khan.

Failed to gain support

Since Khan's conviction, his Pakistan Tehreek-e-Insaf party and critics have said the former premier was being politically victimised by the government of current Prime Minister Shehbaz Sharif, a charge the government denies.

Sharif replaced Khan last year after his ouster and is likely to step down on Wednesday after the five-year term of the current parliament.

Sharif's ruling Pakistan Muslim League party will face tough competition from Khan's party.

However, it remains unclear whether Khan will be able to contest the elections. Under Pakistan's laws, no convicted person is eligible to lead his party or contest elections or hold any public office. But if Khan's conviction is overturned by the Islamabad High Court, he will be allowed to contest the upcoming vote.

Khan was previously arrested in May on corruption charges, triggering a wave of violent protests that swept the country. Days later, Pakistan’s Supreme Court ordered his release, saying his arrest was illegal.

Since his sentencing Saturday, Khan has renewed his call for mass protests, but has failed to gain traction among his supporters.

Khan has claimed that his ouster from power was a conspiracy by Washington, the government of his successor, Sharif, and the Pakistani military — accusations that all three deny.

Source: TRTworld.com

What’s behind the recent surge in terrorist attacks in Pakistan?

Pakistan’s terrorism challenge has intensified in recent weeks and months as many gains made against terrorist groups in a slew of military operations since 2014 seem to be slipping away.More than 50 workers belonging to a government allied religious-…

Pakistan’s terrorism challenge has intensified in recent weeks and months as many gains made against terrorist groups in a slew of military operations since 2014 seem to be slipping away.

More than 50 workers belonging to a government allied religious-political party – the Jamiat Ulema-e-Islam (JUI) Fazal faction – were killed and 80 plus wounded on July 30 when a suicide bomber blew himself up near the make-shift stage at a gathering in northwestern Bajaur region – close to Pakistan’s border with Afghanistan. A day later, Daesh-Khorasan claimed responsibility. This was the fifth suicide assault in Pakistan in just one month.

The targeting of the JUI-Fazal appears jarring as the party once supported resistance of foreign occupation in Afghanistan. But the tide has shifted. Daesh is even going after the pious turban-clad fighters of the Afghan Taliban.

Yet, many in Pakistan, including the top government and military officials, blame Kabul for not doing enough to tackle those terrorists, including the anti-Islamabad Tehrik-i-Taliban Pakistan (TTP), who use Afghanistan’s soil to plan and execute attacks. This reflects the growing chasms between Pakistan and the Afghan Taliban – once dubbed as close allies and proxies of Islamabad.

The number of terrorist attacks increased since last year after the banned TTP ended last year’s ceasefire following the change of the government in Pakistan, said Abdullah Khan, managing director of an Islamabad-based think tank, Pakistan Institute for Conflict and Security Studies (PICSS).

“In the first seven months of 2023, there have been 18 suicide terror attacks compared to 15 in 2022 and just four in 2021,” he said.

Newspaper reports say that more than 200 people were killed and at least 450 injured in these attacks.

Khan said that the gains made in military operation Zarb-e-Azb, launched in 2014, and operation Radd-ul-Fasaad, that started in 2017, are being lost.

Security and political analysts blame the country’s continuing political instability for the surge in terrorism, particularly in northwestern Khyber-Pakhtunkhwa (KP) and southwestern Balochistan provinces.

The government of Prime Minister Shehbaz Sharif remains bogged down by the country’s teetering economy and the challenge which arrested former premier Imran Khan and his Pakistan Tehreek-e-Insaf (PTI) poses to it.

Security officials, however, blame hostile countries for working against Pakistan.

“The latest attack was carried out when China’s Vice Premier He Lifeng was in Islamabad to mark 10 years of the China-Pakistan Economic Corridor (CPEC),” said a senior security official, requesting not to be named.

“The surge in terrorism is always linked with attempts to derail the CPEC and unfortunately Afghanistan is being used for this purpose,” he said, echoing the official explanation on the rising incidents of terrorism.

While in Khyber-Pakhtunkhwa most terrorist attacks are being blamed on the TTP and Daesh-K, in Balochistan authorities say separatist groups are carrying out attacks.

According to the Inter-Services Public Relations — the media wing of the Pakistan Armed Forces — by the last week of June, security forces had conducted 13,619 operations in which 1,172 terrorists were killed or arrested.

The security forces lost 95 soldiers. On an average, the armed forces are engaging in 77 operations a day, the media wing said.

A retired Lt. General, who had served in the KP, while speaking on the condition of anonymity, said that since the departure of the US-led NATO forces from Afghanistan in August 2021, the terrorism matrix in the region had changed.

“Till the presence of the American and the NATO troops in Afghanistan, the Afghan Taliban were seen by many as waging a holy war against the occupation forces. The Afghan Taliban used the porous border between Pakistan and Afghanistan to slip into our country and then go back to fight the foreign troops and their local allies along with many Pakistani tribesmen,” he said.

“Now the tide has turned as militants belonging to the TTP and other groups are coming from Afghanistan and are being joined by the Afghans.”

For example, Pakistan identified three of the five terrorists involved in the July 16 attack on Zhob Cantonment, Balochistan, as Afghan nationals, hailing from Kandahar.

For security experts, Pakistan faces a complex terrorism challenge, involving regional militant groups as well as hostile foreign powers, whom Islamabad often blames for fomenting terrorism in the country.

“The TTP has gained strength in recent years,” says Abdullah Khan of PICSS. “Since August 2020, at least 30 small and big militant groups have united under its umbrella,” he said.

After the departure of the US-NATO forces from Afghanistan, the TTP can move on both sides of the border with ease because they remained the allies of the Afghan Taliban in fighting the foreign forces, he said.

For the impoverished and struggling Afghan Taliban rulers, meeting Pakistan’s demand of a crackdown on the TTP is a tough choice for multiple reasons.

Mansoor Ahmad Khan, Pakistan’s former ambassador to Kabul, said that when Islamabad raised the issue with the Afghan Taliban, they offered assistance in negotiations with the TTP, saying that they were “your own people”.

“They can’t take action against the TTP because during the days of fighting against the US-NATO backed Kabul government, these militants were their allies,” he said.

“The Afghan Taliban lack the means to establish writ in every part of Afghan territory and they also fear that any action against the TTP or for the matter the Uzbek militants would push them in the arms of the Daesh-K.”

“The Afghan Taliban now give us the standard response, which we gave to the US-NATO and their Kabul-backed regime that they are your people, talk to them. We also refrained from taking any action against the Afghan Taliban because it was difficult to distinguish between militants and millions of Afghan refugees living in Pakistan.”

Pashtuns on both sides of the border have strong cultural, family and tribal ties. It is difficult to distinguish between a Pashtun from Afghanistan and Pakistan.

However, Pakistani leadership, including the top military command, have raised serious concerns about the presence of anti-Pakistan terrorists on Afghan soil.

There have been calls of hot-pursuit of terrorists, but Mansoor Ahmad Khan, said that while it remains an option for any state trying to fight-off foreign terrorists, it would have its ramifications.

“Crossing the international border is not easy… tomorrow India can make a similar argument against Pakistan.”

The retired military official, while stressing the need to engage the Afghan Taliban, said that crackdown should not be seen as the only option. “Military action should be taken against terrorists but at the same time, room should always be open for negotiations.”

For former ambassador Khan, there appears little common ground between Islamabad and Kabul these days.

“The TTP is coming up with maximalist demands, including the imposition of shariat in areas, which used to be under its influence, restoration of the special status to the tribal areas, which have been merged with the KP and the right to keep weapons. Of course, no state can allow that but still talks can always be held.”

The TTP had been active in Pakistan tribal regions, including North and South Waziristan, which border Afghanistan.

The former PTI government had engaged the TTP and freed many of its militants in a bid to end the conflict and allow militants and their families to resettle in tribal areas – a policy now being criticised by the Shehbaz Sharif-led government.

The former ambassador said that the Afghan Taliban are concerned about the restrictions on the cross-border movement as they depend a lot on Pakistan especially for trade. “They complain that when US-backed Ashraf Ghani ruled Kabul, Pakistan issued on average 3,000 visas a day, but now 100 to 200 visas are issued.”

The vacuum created by Pakistan is now being filled by the other countries, including Qatar, the UAE, Iran and China, he added. “The reality is that there are no easy solutions for Pakistan to get out of the vortex of terrorism.”

Source: TRTworld.com

Updated Points Table of Asian Champions Trophy After 4 Rounds of Matches

Pakistan comfortably defeated China 2-1, registering their first win in the ongoing Asian Hockey Champions Trophy 2023 at Mayor Radhakrishnan Stadium.With this victory, the Men in Green moved to the fourth spot on the points table, enhancing their cha…

Pakistan comfortably defeated China 2-1, registering their first win in the ongoing Asian Hockey Champions Trophy 2023 at Mayor Radhakrishnan Stadium.

With this victory, the Men in Green moved to the fourth spot on the points table, enhancing their chances of advancing to the semi-final stage of the marquee event.

Three-time champions India lead the points table after winning three out of four encounters while concluding one game in a draw, securing a spot in the semi-finals.

Malaysia also secured a semifinal spot with a convincing 3-1 win over Japan, standing second on the points table by winning three out of four games and losing one.

The 2021 champions, South Korea, currently hold the third spot in the points table with five points in their pockets, winning one game and ending two games in a draw.

Here is the updated points table after Pakistan’s win over China.

Pos Team M W D L GF GA GD P

1 India 4 3 1 0 16 5 +11 10

2 Malaysia 4 3 0 1 11 8 +3 9

3 South Korea 4 1 2 1 6 6 0 5

4 Pakistan 4 1 2 1 7 8 -1 5

5 Japan 4 0 2 2 6 9 -3 2

6 China 4 0 1 3 5 15 -10 1

Source: ProPakistani

90% of Nursing Schools and Colleges in Sindh Are Fake

The Senate Sub-Committee on National Health, formed based on a working paper furnished by the Pakistan Nursing Council regarding the list of colleges affiliated with it, revealed that 90 percent of colleges in Sindh province are ghost colleges with no…

The Senate Sub-Committee on National Health, formed based on a working paper furnished by the Pakistan Nursing Council regarding the list of colleges affiliated with it, revealed that 90 percent of colleges in Sindh province are ghost colleges with no direct affiliations with hospitals for clinical practice.

The Senate Sub-Committee on National Health Services, Regulations, and Coordination was convened by Senator Rubina Khalid at the Parliament House to discuss the issue of fake institutions registered with the Pakistan Nursing Council, their affiliations with hospitals, and the issuance of fake degrees/certificates to nurses.

The sub-committee expressed dissatisfaction with the slow progress of the matter and inquired about the reasons for the delay. “The matter has been pending for a year now,” remarked the chair, adding, “This demonstrates the power of the PNC, which seems to be even greater than that of the Prime Minister,” she further stated.

She pointed out that this is evident from the PMC’s failure to implement the directions of the Senate committee as well as the National Assembly committee regarding the repatriation of Mrs. Yasmeen Azad, Assistant Registrar of the Pakistan Nursing Council. “The current state of the PNC is riddled with issues,” she said, expressing hope that the new council will play an active and authoritative role in improving the PNC setup.

The secretary informed the committee that the formation of the new council will lead to changes in the roles of the registrar and other personnel on deputation.

The Additional Secretary of the Ministry of Health informed the committee that a new Nursing Council has been established, which will function as a governing body. Its first meeting is scheduled for tomorrow.

He stated that once the new council becomes operational, it will promptly address the issue of fake degrees and colleges, as well as the repatriation orders. The sub-committee decided that the next meeting would invite the president of the new council and a representative from the Ministry, immediately after the council’s first internal meeting.

In its briefing to the sub-committee, the PNandMC stated that the Council does not recognize any ghost or fake nursing institutes, and strong legal actions are being taken against such institutes. The committee inquired about the number and list of colleges that have been closed so far, to which the PNandMC registrar remained silent.

The sub-committee also directed the PNC to provide an inquiry report, if any, conducted since its establishment on the monitoring of ghost colleges and whether any of them have been closed by the Council, in the next meeting.

The committee also questioned a point mentioned in the briefing that no other department, whether government or private, except the PNandMC, can regulate or conduct nursing diplomas/degrees/courses/programs offered by registered nursing institutes/colleges in the country. “What kind of system is this?” Senator Rubina Khalid exclaimed, asking whether the PNandMC has no monitoring authority. She directed the Ministry to provide a briefing on the amendments in the PNC (Amendment) Act, 2023.

The matter was postponed for further deliberation and reporting.

In the meeting, Senator Prof Dr Mehr Taj Roghani, Senator Jam Mehtab Hussain Dahar, Additional Secretary of the Ministry of Health, and other representatives from the Ministry and PNC participated.

Source: ProPakistani

Pfizer Announces Multiple Remote Jobs in Pakistan

?? For the latest General and Pakistan news and analysis join ProPakistani’s WhatsApp Group now!Pfizer, a global pharmaceutical leader, has announced multiple job opportunities, including remote positions, for ambitious professionals in Pakistan.With a…

?? For the latest General and Pakistan news and analysis join ProPakistani's WhatsApp Group now!

Pfizer, a global pharmaceutical leader, has announced multiple job opportunities, including remote positions, for ambitious professionals in Pakistan.

With a history of manufacturing medicines, joining Pfizer means enhancing your medical career and contributing to improving health and well-being on a monumental scale.

General Criteria

Relevant degrees for the desired position.

Demonstrable academic achievements, especially in the pharma sector.

Prior roles in pharmaceutical or similar industries (specific to certain positions).

Technical acumen combined with problem-solving skills.

Effective communication, and teamwork skills.

A genuine drive to push the boundaries in healthcare.

Documents Required

Detailed and updated CV.

All your relevant degrees and certificates.

Additional qualifications that highlight your expertise.

Letters from past roles, showing your contributions.

A cover letter on why Pfizer is your ideal next step.

Job Vacancies

Operator (Karachi)

Matric (Science)/FSc/DAE

0-1 year of Pharmaceutical experience.

Good understanding of GMP.

Ability to operate and troubleshoot machines and tools.

Good understanding of EHS, and Quality standards.

Computer knowledge of Excel/MS Word.

Click here to apply for this position.

Health Representative (Remote)

Science graduate, preferably in pharmacy.

Fresh graduate with a maximum of up to 6 years of pharmaceutical sales experience

Click here to apply for this position.

Technical Operator (Karachi)

Matric/Inter/DAE/B.Tech

Bachelor’s degree.

Pharmaceutical production experience

Click here to apply for this position.

Biopharma Quality Lead – Manager (Remote)

Bachelor’s degree required.

5+ years of relevant experience with a minimum of 3 years experience in pharma.

Understand the fundamentals of the pharmaceutical industry, regulatory requirements, and risk management.

Fluent in English and other languages if required.

Strong networking and negotiation skills.

Proven ability to influence without authority, a wide range of senior stakeholders.

Experience in audits and inspections.

Experience in aligning senior stakeholders and facilitating conflict.

Local operating experience.

Experience working across cultures and multiple time zones.

Detail-oriented with strong organizational skills and a proven ability to prioritize and work independently to complete quality work on a timely basis

Understand the fundamentals of drug safety and risk management (e.g. Adverse Event reporting) and/or data privacy processes.

Team collaboration spirit, with a strong ability to work as a single driver and contributor.

Strong written and oral communication skills with a focus on issue understanding and resolution.

Demonstrated strategic thought leadership and ability to drive transformation.

Experience in project management and facilitating cross-functional initiatives via indirect leadership.

Ability to work effectively and collaboratively with global and regional teams.

Strong analytical skills.

Strong business acumen.

Experience in commercial operations, safety, compliance, sales, and marketing.

Experience with the assigned market(s).

Experience in BQ services and scope.

Proficient in common technical tools (e.g. Microsoft Office)

Click here to apply for this position.

How to Apply

Click one of the links above, which will direct you to the career section of Pfizer’s website.

Thoroughly read the eligibility criteria and press apply.

Fill in the online application, ensuring accuracy throughout.

Upload all necessary documents listed above.

Once submitted, keep an eye on your email and other communication mediums for a response from Pfizer’s HR.

Source: ProPakistani

Lahore Police Busts Massive Kidney Transplant Operation in DHA

The Organized Crime Unit (OCU) of the Lahore police raided a rented farmhouse within the Defence Housing Authority (DHA), uncovering an extensive kidney transplant operation spearheaded by senior local doctors with ties to Dubai.During the operation, …

The Organized Crime Unit (OCU) of the Lahore police raided a rented farmhouse within the Defence Housing Authority (DHA), uncovering an extensive kidney transplant operation spearheaded by senior local doctors with ties to Dubai.

During the operation, Dr. Tariq and Dr. Arshad, both doctors implicated in the scheme, managed to evade capture. Their alleged mastermind, Dr. Saqib, is already in Dubai. Investigations unveiled that these three were orchestrating an unlawful kidney transplant network for foreign patients, demanding substantial payments in foreign currency.

Their primary base is in Dubai, where they facilitate illegal kidney transplants in Pakistan for their patients.

As the raid took place, authorities encountered two foreign individuals undergoing kidney transplant procedures at the farmhouse. Both were in a critical state and were swiftly transported to Services Hospital Lahore for immediate medical attention.

Upon receiving intelligence about the illicit activities at the farmhouse, the police intervened. The Punjab Human Organ Transplant Authority (P-HOTA) knew the situation, but they did not take action against the individuals involved in the scheme.

In relation to the illegal operation, the OCU apprehended eight individuals, comprising aides, assistants, paramedics, and other personnel. The farmhouse, located on Bedian Road in Lahore, was rented by the culprits and converted into an unlawful kidney transplant facility.

Dr. Saqib, the alleged mastermind, has a history of engaging in unauthorized organ transplants. According to DIG retired Capt Liaqat Malik, the head of Lahore’s OCU, efforts are being made to apprehend Dr. Saqib.

His modus operandi was enticing foreign individuals in need of kidney transplants and directing them to Lahore. There, accomplices would transport these individuals to the farmhouse for illegal surgical procedures.

The doctors exploited impoverished individuals from Lahore and other regions within the province, offering them sums ranging from Rs. 50,000 to Rs. 80,000 to serve as organ donors.

Source: ProPakistani

Govt Planning to Revise Motor Third-Party Insurance Policy

The government is planning to revise the policy of motor third-party insurance to provide maximum protection and facilitation to the policyholders.Securities and Exchange Commission of Pakistan (SECP) officials told a selected group of reporters on Mo…

The government is planning to revise the policy of motor third-party insurance to provide maximum protection and facilitation to the policyholders.

Securities and Exchange Commission of Pakistan (SECP) officials told a selected group of reporters on Monday that the motor third-party insurance (MTPI) provides coverage to victims of road accidents or their legal heirs for any bodily injuries and deaths in the aftermath of a road accident.

The MTPI provides protection to accident victims, promotes responsible driving, reduces the financial burden on the government, ensures legal compliance, and assists in market development.

Third-party insurance provides coverage to victims of road accidents or their legal heirs for any bodily injuries and deaths in the aftermath of a road accident.

Across the globe, MTPI is a crucial form of insurance, as it provides protection to accident victims, promotes responsible driving, reduces the financial burden on the government, ensures legal compliance, assists in market development, and plays its role in the fulfillment of SDGs.

Legal Framework

In Pakistan, the subject of MTPI falls under the ambit of the Federal Statute i.e. Motor Vehicles Act (MVA), 1939. Section 94 of the Saved Chapter VIII of the repealed Motor Vehicles Act 1939 stipulates that no person will be allowed the use of motor vehicles in a public place unless there is in force a policy of insurance complying with the requirements as laid down in section 95 of chapter VIII.

Furthermore, the West Pakistan Motor Vehicles Ordinance 1965 also deals with MTPI as it authorizes the registering authority to suspend the certificate of registration if the vehicle is not insured.

In 2000, the National Highways Safety Ordinance (NHSO) was introduced which makes it mandatory to obtain no-fault compensation insurance for any vehicle to be driven on the national highways.

Similarly, Draft Road Safety Act 2022 has been proposed by the National Transport Centre and Ministry of Communications which will repeal all previous acts governing MTPI and bounds the registration authorities to refuse registration if not satisfied that the vehicle is not covered by third-party insurance.

There is a need for mandatory verification at the time of registration of a vehicle as well as the amendments in the Motor Vehicles Act 1939. Moreover, there is a need for the implementation of MTP under the National Highways Safety Ordinance, 2000.

The SECP has also proposed penalties and imprisonment for the issuance of bogus policies and penalties for the absence of MTPI certificate. At the same time, the SECP will lead an awareness campaign, engage with enforcement agencies, and has proposed a waiver of FED for motor insurance premiums and efficiency and ease in claim lodges.

The major bottlenecks in the current law include the low compensatory limits in case of death, no separate compensation limits for bodily injuries, no enforcement mechanism at the time of registration, and the absence of a no-fault option for claim settlement.

The second layer of impediments is based on implementation issues as there is no mechanism to validate the presence of a genuine MTPI certificate at the time of registration of the vehicle, renewal, transfer of ownership, and driving on the road. There is no enforcement clause in the current law, as per the SECP.

SECP has been working on amendments in MVA since 2015 and all concerned stakeholders have been consulted and taken into confidence.

Source: ProPakistani