Financial news

Pakistan abolishes colonial-era criminalization of suicide – JURIST

President of Pakistan Dr. Arif Alvi Friday approved the Criminal Laws (Amendment) Bill 2022, abolishing colonial law regarding the criminalisation of attempting suicide. The Bill repeals Section 325 of the Pakistan Penal Code 1860 which stipulates that “Whoever attempts to commit suicide and does any act towards the commission of such offence, shall be punished with simple imprisonment for a term which may extend to one year, or with fine, or with both.”The Bill was introduced in the Pakistan Parliament by the Pakistan Peoples Party (PPP) and was criticised by the opposing party Jamiat Ulema-e-Islam (JUI).President Alvi also approved the Foreign Investment (Promotion and Protection) Amendment Bill 2022 (‘The FI Bill’) amending Section I of the Foreign Investment (Promotion and Protection) Act, 2022 (‘The FI Act’). The Act was passed by the Pakistan Parliament in 2022 to promote and protect certain qualified foreign investments paving the way for a settlement deal between the Pakistan Government and Canadian Co. Barrick Gold for the reconstitution, and eventually, the revival of the long-stalled mining initiative ‘Reko Diq gold and copper mining project‘ in Balochistan’s Chagai district.The FI Bill was introduced to clarify the scope and application of the FI Act. The Bill states that the FI Act, which extends to the “whole of Pakistan” shall be amended to specify that “for Balochistan, and it should only apply to the qualified investment of the Reko Diq project as mentioned in schedules and annexures of this act.”