ISLAMABAD - President Asif Ali Zardari, on the advice of the Prime Minister, on Friday gave assent to two Bills, 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 and Modaraba (Floatation and Control) (Amendment) Bill 2012 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. 

The Bill was passed by the National Assembly on the 8th October 2009 and was passed by the Majlis-e-Shoora (Parliament) under clause (3) of the Article 70 of the Constitution in joint sitting held on 30th March 2012.

The NFC Institute of Engineering and Technology Multan Bill 2012 seeks to provide for the establishment of NFC Institute of Engineering and Technology Multan with degree awarding status to enhance the quality of higher education in the country.

The said Bill was passed by National Assembly on the 8th October 2009 and was passed by the Majlis-e-Shoora (Parliament) under clause (3) of the Article 70 of the Constitution in joint sitting held on 5th April 2012.