75 YEARS OF EXCELLENCE OF PAKISTAN STOCK EXCHANGE. AUGUST 30, 2024 (2024-9)

Pakistan Stock Exchange (PSX) is the national stock exchange of Pakistan. It was established with the name of Karachi Stock Exchange (KSE) on September 18, 1947. It was incorporated on March 10, 1949, under the name of Karachi Stock Exchange. (Guarantee) Limited as a company limited by Guarantee. In October 1970, a second stock exchange was established in Lahore by the name of Lahore Stock Exchange (LSE) to meet the stock trading or investment and listing needs of the provincial metropolis of Lahore and its surrounding region. In October 1989, a third stock exchange was established in Islamabad by the name of Islamabad Stock Exchange (ISE) to cater to the investors and companies of the northern parts of the country.

Originally, KSE was a small bourse having only five listed companies with a total paid- up capital of Rs 37 Million. As the years passed and more companies got listed, the first index constituting the companies on the bourse was formed. It was called the KSE 50 Index. Gradually, as the number of listed companies and trading activity increased, the need for a truly representative index was felt and the KSE 100 Index was formed on November 1, 1991. Other indices such as the KSE 30 Index and KMI 30 Index along with the recently added sectoral & ETF indices were also added, thus bringing a total of 16 indices on the Stock Exchange at present.

In the earlier days, trading of shares used to take place through open outery on the trading floor. This was a traditional way of communication between stockbrokers where verbal communication and hand signals were used for conducting transactions. One stockbroker would communicate that he was interested to buy a stock while another stockbroker would communicate that he was interested in selling a stock. Hence a buy sell deal was made across the trading pit. The open outcry method was eventually replaced in 2002 by the electronic trading system. The Karachi Automated Trading System (KATS) became operational at the Stock Exchange which was a robust, high performance and high-capacity trading system. This was later replaced by the New Trading & Surveillance System (NTS), a cutting edge, future-ready, and robust trading system, which was successfully implemented, installed and adopted in 2023.

The three stock exchanges, Karachi, Lahore & Islamabad stock exchanges had separate management, trading interfaces, indices and no mutualized structure. In March 2012, the Stock Exchanges (Corporatization, Demutualization, and Integration) Act 2012 was passed by the Parliament of Pakistan and in the month of May of the same year, it was signed by the President of Pakistan. By virtue of the said Act, all three stock exchanges were converted into companies limited by shares and it resulted into separation of ownership rights with the trading rights. The brokers were termed as initial shareholders who were issued shares of respective stock exchanges together with Trading Right Entitlement Certificates (TRECs). The said Act also required all the stock exchanges to divest 40% of their equity to strategic anchor investors and 20% to general public.

In order to implement the condition of divestment of shares laid down in theabove-referred Act in letter and spirit, it was essential to have only one stock exchange available for this purpose to the potential investors. As such, the operations of all three stock exchanges were ultimately integrated and a single entity with the name of Pakistan Stock Exchange Limited (PSX) emerged on January 11, 2016. It was followed by sale of 40% equity stake of PSX to Chinese consortium in the end of 2016 and offer of 20% equity stake to general public and self-listing of PSX in June, 2017. As such, PSX is now a commercial entity as well as an active frontline regulator of the capital market.

Many developments have taken place at PSX over the last few years. These include upgradation of PSX technology platform wherein a new Trading & Surveillance System has been implemented at the Exchange as mentioned earlier. Furthermore, the Exchange has brought forth new technological innovations and conventional developments such as the Online Account which allows investors to open an account digitally, the Sahulat Account which requires a simplified and convenient account opening process, the PSX WhatsApp Service to make available a host of information to users on their finger-tips, the My Portfolio virtual trading platform to enable users to learn the ropes of investing through real time trading but with virtual cash, the PSX Knowledge Center which is a repository of articles, blogs and financial calculators related to the capital markets, and the PSX Glossary which consists of a list of 500 terms and definitions to enhance and increase knowledge on the financial markets. Over the past few years, nine Exchange Traded Funds have also been launched at the Exchange. These ETFs belong to different categories such as those of equity, debt and Islamic. Moreover, PSX caters to those investors as well who are inclined towards Shariah compliant investments. In this context, PSX lists 258 Shariah-compliant companies amongst its listings.

The ecosystem of the Capital Market of Pakistan comprises of different parts which together enable the working of the Market as a whole. The companies at the forefront with PSX in the ecosystem of the Capital Market of Pakistan are Central Depository Company of Pakistan (CDC) and National Clearing Company of Pakistan Limited (NCCPL). CDC handles the transfer of shares traded and keeps the custody of shares held by investors electronically while NCCPL provides clearing and settlement services of shares and funds against the transactions conducted at the Exchange. The apex regulator is the Securities & Exchange Commission of Pakistan (SECP) under whose regulations, PSX operates. The securities brokers, capital market intermediaries, and the Asset Management Companies (AMCs) are an essential part of the capital market ecosystem as well.

Pakistan Stock Exchange lists 523 companies on the Main Board and 3 companies on the GEM Board, representing 36 industrial sectors having total market cap of over Rs9,947 trillion. In recent past, PSX outperformed the stock markets of the world and was called the world's second-best stock market by Bloomberg in October 2023. PSX was also the proud winner of Best Islamic Stock Exchange Award for three consecutive years, 2021, 2022, 2023, presented by Global Islamic Finance Awards (GIFA).

Pakistan Stock Exchange plays a crucial role in the country's economy as it channels domestic savings and foreign capital to the financial coffers of the country. By attracting interest from local and foreign investors, much needed capital inflows are channeled in the country through PSX. There are more than 318,000 investors investing on the Exchange. Pakistan Stock Exchange provides for an attractive avenue of investments with Price to Earning Ratio of 3.80 which is the lowest in the region. This is a clear reflection of the attractive valuation of stock prices prevalent at PSX. Not only that, Pakistan Stock Exchange has provided the highest Dividend Yield of 9.38%as compared to other markets of the region.

Not only for investors, but also for companies, PSX is an attractive capital market. By listing on the Stock Exchange, companies can obtain much needed financing to fund their growth, invest in new projects, and increase the country's exports. Companies listed on the Exchange provide employment and benefits to thousands of Pakistanis and their families and generate significant tax income for the Government of Pakistan.

On the occasion of completion of 75 Years of operations of Pakistan Stock Exchange, a Commemorative Postage Stamp of Rs. 30/- denomination is being issued by Pakistan Post on 30th August 2024.

75TH ANNIVERSARY OF ESTABLISHMENT OF DIPLOMATIC RELATIONS BETWEEN PAKISTAN AND EGYPT. AUGUST 21, 2024 (2024-8)

Pakistan and Egypt have close fraternal relations, which are characterized by common bonds of faith, cultural affinities, and values between the people of two countries. Egypt was among the first countries to recognize Pakistan and the two countries exchanged resident Ambassadors in 1948. The relations between the two countries have strengthened more and more. Pakistan and Egypt have bilateral relations in the political, economic, trade, investment, education, cultural and defence fields. The two brotherly countries are celebrating 75th Anniversary of establishment of diplomatic relations.

2. Pakistan and Egypt are the promising developing economies with thriving young population. Both countries have economic and infrastructure development as the central agenda moving forward. They continue to highlight Islamic traditions and crafts in their modern infrastructure.

3. Islamabad is the new national capital of Pakistan, that was built in 1960s to replace Karachi as a capital. It is located on Pothohar Plateau of the northern Punjab region. As per the latest census in 2023, Islamabad Capital Territory has a population of 2.36 million. Islamabad is a lush green city with healthy climate. It is a modern and carefully planned city with wide roads and avenues, elegant public buildings and well-organized markets, and shopping centres. The metropolitan area of the city is divided into eight basic zones: Administrative, diplomatic enclave, residential areas, educational sectors, industrial sectors, commercial areas, and rural and green areas. Islamabad is a symbol of modern state representing vibrant and progressing nation of Pakistan.

4. Located on the foothills of Margalla hills, Islamabad has a scenic mosque in its centre with the name of Faisal Mosque. The mosque was built in the name of Saudi King Faisal Bin Abdul Aziz. Sprawling on 33 acres, it is now the sixth largest mosque in the world. The construction started in 1976 and the mosque was completed in 1986. Faisal Mosque was designed by Turkish Architect, Mr. Vedat Dalokay. It has unique and unconventional architecture. The main 8-sided hall of the mosque was designed in a way that it looks like a Bedouin desert tent. It has four minarets. It has the capacity to host 300,000 people for prayers.

5. To fulfil the increasing administrative needs and to accommodate the rising population of Cairo city, the Egyptian government has undertaken massive infrastructure project of building a new area, currently named as The New Administrative Capital (NAC). It is planned to be Egypt's new capital and has been under construction since 2015. NAC is a part of Egypt's agenda for economic development and larger initiative called 'Egypt Vision 2030'. The new city is located 45 kilometres (28 miles) east of Cairo and just outside the Second Greater Cairo Ring Road. Sprawling over 700 km², the city is expected to house a population of 7 million people. The city is planned to consist of a government administrative district, a diplomatic area, a cultural district (opera and theatres), a central business district (CBD), parks (the 'green river'), and 21 residential districts. The NAC would be completed in phases. Egyptian government has already started shifting government ministries to the New Administrative Capital in 2023.

6. To symbolize the modern architecture and Islam as basic essence, Egypt built a spectacular mosque in its New Administrative Capital, named Al-Fattah Al-Aleem Mosque. The mosque is located on the New Middle Ring Road in the New Capital. Al-Fattah Al- Aleem Mosque has been built on the allocated area of 110 acres and is considered one of the mega mosques in the world. Like Faisal Mosque in Islamabad, Al-Aleem Mosque is the hallmark of the development of New Administrative Capital in Egypt. It was inaugurated by Egyptian President Mr. Abdel Fattah el-Sisi in January 2019. The mosque has 21 domes and four minarets each of nearly 95 m in height. and is considered the 2nd biggest mosque in the world in terms of total area. Currently, the mosque has a capacity to house 17,000 people for prayers. The mosque also includes two Quran memorization houses one each for boys and girls.

On the 75th Anniversary of establishment of diplomatic relations between Pakistan and Egypt, the commemorative postage stamp is being issued by Pakistan Post of the value of Rs. 75/- each denomination on 21st August, 2024

CELEBRATING 77 YEARS OF INDEPENDENCE HONOURING ARSHAD NADEEM'S ACHIEVEMENT. AUGUST 14, 2024 (2024-07)

On Pakistan's 78th Independence Day, we proudly introduce a special postal stamp that celebrates the remarkable achievement of Arshad Nadeem. Arshad Nadeem made history at the 2024 Paris Olympics by setting a new Olympic record with a phenomenal throw of 92.97 meters in the men's javelin throw final on August 8, 2024. Arshad Nadeem's gold medal stands as a profound symbol of national pride. This remarkable victory is not just a personal success but highlights the exceptional talent and potential of Pakistan's young athletes. His achievement reflects the dedication, skill, and determination needed to excel at the highest levels of international sport.

The new stamp commemorates Arshad Nadeem's outstanding performance and his contribution to bringing recognition to Pakistan on the global stage. His success story is an example of the remarkable achievements. possible through hard work and perseverance, inspiring future generations to pursue their own goals with the same dedication and hard work.

As we celebrate our 77 years of independence, this stamp honours Arshad Nadeem's incredible achievement and the broader promise of Pakistani talent. It's a moment to reflect on the pride we feel for Arshad Nadeem and the potential that continues to grow within our nation.

On the occasion of 78th Independence Day of Pakistan, a Special Postage Stamp of Rs. 100/- denomination is being issued by Pakistan Post on August 14th, 2024,

GOLDEN JUBILEE CELEBRATIONS OF THE ALLAMA IQBAL OPEN UNIVERSITY (1974-2024) JULY 23, 2024 (2024-6)

Allama Iqbal Open University (AIOU) is a Public Sector University of Pakistan with over 1 Million students on its roll and is the second largest Open University in Asia. The University is entrusted with the responsibility of imparting education to all the strata's of society and is operating in all the provinces of Pakistan.

AIOU is a prominent institution of distance education established in 1974. The university is named after Allama Muhammad Iqbal, a renowned philosopher, poet, and politician who played a pivotal role in the creation of Pakistan, AIOU is the first open niversity in Asia and one of the largest distance learning institutions in the world.

AIOU aims to provide accessible and affordable education to a diverse population, catering to the needs of individuals who are unable to attend conventional brick-and-mortar institutions due to various reasons such as geographical constraints, work commitments, or financial limitations. The university has played a crucial rote in expanding educational opportunities across Pakistan and beyond.

One of the distinctive features of AIOU is its commitment to inclusive education. It offers a wide range of academic programs, including undergraduate, postgraduate, and doctoral degrees, as well as diplomas and certificates in various disciplines. The diverse academic offerings encompass fields such as humanities, social sciences, natural sciences, business administration, and technical and vocational education.

AIOU operates on a semester system, providing flexibility for students to pursue their education at their own pace. The university employs a comprehensive and innovative approach to distance learning. Incorporating printed course materials, multimedia resources, and online platforms to facilitate effective learning. The use of modern technology enables students to access study materials, submit assignments, and interact with instructors and fellow students from the comfort of their homes.

The university's commitment to reaching underserved population is evident in its extensive network of regional and sub-regional offices across Pakistan. These offices serve as support centers, offering assistance to students and facilitating the delivery of study materials. AIOU's reach extends beyond national borders, as it has attracted students from various countries, contributing to the internationalization of the institution.

Through the massive technological intervention and the integrated automated suites of applications like CMS (Campus Management Solution), EPB (Enterprise Planning &Budgeting), ERP (Enterprise Resource Planning) and LMS (Learning Management System) that has enabled the students to have an improved learning experience in addition to pursuing their academic activities at their choice of time and place, besides they can also refer back to the recorded lectures available in LMS and can benefit while being off-line also. The tutoring to the students of AIOU is being provided by the quality academicians from various institutions across Pakistan.

In addition to academic pursuits, AIOU is actively involved in community development initiatives. The university collaborates with government agencies, non-profit organizations, and community groups to implement projects that address social issues, promote literacy, and enhance the quality of life for marginalized populations.

The commitment to lifelong learning is a key aspect of AIOU's philosophy, The university encourages continuous education and skill development by offering a variety of short-term courses, workshops, and training programs to meet the evolving needs of the workforce. For timely transmission and delivery of the study material and other important correspondence of the University to the enrolled students throughout country especially in far flung area, the role of Pakistan Post cannot be denied. Pakistan Post being a trusted partner has played a vital role not only in providing delivery service since the establishment of the University but also established a post office a complete Sorting Section and a complaint cell for full facilitation of the university and students. in the premises of the University.

AIOUis the largest university of Pakistan in terms of Students' enrollment and educational programmes. It is apprised that around 5 million students have graduated from the University since its enactment and are contributing to the development of motherland. The university in its Convocation recognize student achievements and confer upon them publicly the degrees. earned by them through dedication and hard work.

In conclusion, Allama Iqbal Open University stands as a beacon of accessible education, providing a platform for individuals to overcome barriers and pursue academic and professional goals. Its innovative approach to distance learning, commitment to inclusivity, and dedication. to research and community development contribute to its significance in the realm of education in Pakistan and beyond. As a trailblazer in open and distance learning, AIOU continues to play a crucial role in shaping the educational landscape and empowering individuals to achieve their full potential.

Design elements of Commemorative Postage Stamps and Souvenir Sheet:- These stamps are South Asia's first and Asia's second Artificial intelligence assisted postage stamps. All stamps are set in turquoise color which symbolizes wisdom. The stamps shows dedicated students and the main campus of university, Souvenir Sheet encompasses all the previous issues of Pakistan Post to commemorate AIOU along with above four stamps. In the backdrop is the imposing building of Main Hall of AIOU at Islamabad campus.

On the occasion of the Golden Jubilee Celebrations of the Allama Iqbal Open University Islamabad, the Commemorative Postage Stamps Rs.30/-denomination (Set of 4) and a Souvenir Sheet with the Value of Rs.100/-are being issued by Pakistan Post on July 23rd, 2024.

INTERNATIONAL DAY OF THE MARKHOR. MAY 24, 2024. (2024-5)

The Markhor (Capra falconeri), the national animal of Pakistan, is a large wild goat species native to South Asia and Central Asia, mainly within Pakistan, India, the karakoram range, parts of Afghanistan, and the Himalayas. Since 2015 it has been classified as Near Threatened on the IUCN Redlist. The word "Markhor" meaning "Snake-eater," originates from Pashto and classical Persain languages, reflecting the ancient belief that the Markhor would hunt and eat snakes. This regional myth likely arises from the male Markhor's horns, which twist and curl in a snake-like manner, leading ancient peoples to associate them with snakes. There are five sub-species of Markhor (Capra falconeri) namely Astor Markhor or AstorAstore Markhor (Capra falconeri), Bukharan Markhor (Capra falconeri heptneri), Kabul Markhor (Capra falconeri megaceros), Kahmir Markhor (Capra falconeri cashmiriensis) and Suleiman Markhor (Capra falconeri jerdoni), often based on their horn configuration.

As true goats of the Himalayas, the Kashmir Markhor (Capra falconeri cashmiriensis) is the most spectacular among wild goats. Distinguished by its large body, long spiraling horns, thick fur, and a flowing beard and neck ruff. It is widely spread from Afghanistan to Pakistan, Azad Jammu and Kashmir and Indian occupied jammu and Kashmir. In Pakistan, Kashmir Markhor, around Chitral and the border areas with Afghanistan, inhabits a number of valleys along the Kunar River (District Chitral), from Arundu on the west bank and Drosh on the east bank, upto Shoghor along the Lutkho River, and as far as Barenis along the Mastuj River. In Dir district, the Markhor accurs along the upper Panjkora River, on the slopes of Ludak Sar and Mankial in Swat and in Indus Kohistan. Its isolated populations also occur in Azad Jammu and Kashmir in the western extremity of the Kazinag Range.

The main predators of the Markhor include the Eurasian lynx (Lynx lynx). snow leopard (Panthera uncial), Himalayan wolf (Canis lupus chanco), and brown bear (Ursus arctos). Young Markhors are also preyed upon by the golden eagle (Aquila chrysaetos). Markhor have sharp eyesight and a strong sense of smell, which help them detect nearby predators. They are highly alert and aware of their surroundings, quickly spotting and feeling from threats in exposed areas.

Markhor in Pakistan faces numerous threats that jeopardize its survival. Habitat loss due to deforestation, agricultural expansion, and infrastructure development significantly reduces the areas where these wild goats can't live and forage. Additionally, illegal hunting and poaching. driven by the high value of their distinctive spiraled horns, have led to a drastic decline in their population. Competition with domestic livestock for food and water resources further strains their already limited habitat. Climate change also poses a growing threat, altering the delicate balance of their mountainous ecosystems. These challenges collectively threatened the Kashmir Markhor, highlighting the regent need for comprehensive conservation efforts to protect and preserve this iconic species.

The United Nations General Assembly (UNGA) has officially declared May 24th as the International Day of the Markhor, following a resolution sponsored by Pakistan and eight other countries. This significant move aims to promote global awareness and cooperation for the conservation of the Markhor. The resolution urges all stakeholders to prioritize efforts to protect the Markhor and its natural habitat, recognizing its ecological importance and potential for enhancing regional economies through sustainable tourism and conservation initiatives.

On the occasion of declaration of International Day of the Markhor by the UN, a Commemorative Postage Stamp of Rs. 30/- denomination and Souvenir Sheet (Value of Rs. 100/-) are being issued by Pakistan Post on 24th May 2024.