118-459: The Pakistan Stock Exchange ( PSX ) ( Urdu : پاکستان اسٹاک ایکسچینج ), founded as Karachi Stock Exchange ( KSE ), is a stock exchange based in Karachi , Pakistan . PSX was classified by MSCI as a frontier market on 8 September 2021. Pakistan Stock Exchange was founded in 1947 as Karachi Stock Exchange, In January 2016, Karachi Stock Exchange was renamed as Pakistan Stock Exchange after
236-642: A dialect continuum ranging from Persianised to Sanskritised vocabulary, but now they are more and more different in words due to politics. Old Urdu dictionaries also contain most of the Sanskrit words now present in Hindi. Mutual intelligibility decreases in literary and specialised contexts that rely on academic or technical vocabulary. In a longer conversation, differences in formal vocabulary and pronunciation of some Urdu phonemes are noticeable, though many native Hindi speakers also pronounce these phonemes. At
354-473: A market capitalization of only $ 6 billion, it exhibited extreme volatility and high turnover, with trading concentrated in just 30 of the 765 listed stocks. Malpractices such as fund diversion, absence of margin requirements, and predatory lending were common, disadvantaging small investors. Commercial banks were involved in lending to brokers who engaged in exploitative practices like "cornering." Shareholder meetings were often delayed or not held, and there
472-584: A cabinet as well as running the government operations. The Prime Minister makes key appointments on various important positions, including; The Cabinet can have a maximum of 11 percent (50 members including the Prime Minister) of the total strength of the Parliament . Each Cabinet member must be a member of Parliament (MP). The Cabinet Ministers chair the Cabinet and are further assisted by
590-406: A core vocabulary of native Sanskrit and Prakrit derived words and a significant number of Arabic and Persian loanwords, with a consensus of linguists considering them to be two standardised forms of the same language and consider the differences to be sociolinguistic ; a few classify them separately. The two languages are often considered to be a single language (Hindustani or Hindi-Urdu) on
708-729: A government: the legislative , whose powers are vested in a bicameral Parliament ; the executive , consisting of the President , aided by the Cabinet which is headed by the Prime Minister ; and the judiciary , with the Supreme Court . Effecting the Westminster system for governing the state, the government is mainly composed of the executive , legislative , and judicial branches, in which all powers are vested by
826-546: A heavy influence on both as a co-official language. According to Bruce (2021), Urdu has adapted English words since the eighteenth century. A movement towards the hyper-Persianisation of an Urdu emerged in Pakistan since its independence in 1947 which is "as artificial as" the hyper-Sanskritised Hindi that has emerged in India; hyper-Persianisation of Urdu was prompted in part by the increasing Sanskritisation of Hindi. However,
944-518: A literary medium for Indian writers from the Bombay Presidency, Bengal, Orissa Province, and Tamil Nadu as well. As Urdu and Hindi became means of religious and social construction for Muslims and Hindus respectively, each register developed its own script. According to Islamic tradition, Arabic , the language of Muhammad and the Qur'an , holds spiritual significance and power. Because Urdu
1062-595: A notable novel being Umrao Jaan Ada . According to the Navadirul Alfaz by Khan-i Arzu, the "Zaban-e Urdu-e Shahi" [language of the Imperial Camp] had attained special importance in the time of Alamgir ". By the end of the reign of Aurangzeb in the early 1700s, the common language around Delhi began to be referred to as Zaban-e-Urdu , a name derived from the Turkic word ordu (army) or orda and
1180-702: A phonological level, speakers of both languages are frequently aware of the Perso-Arabic or Sanskrit origins of their word choice, which affects the pronunciation of those words. Urdu speakers will often insert vowels to break up consonant clusters found in words of Sanskritic origin, but will pronounce them correctly in Arabic and Persian loanwords. As a result of religious nationalism since the partition of British India and continued communal tensions, native speakers of both Hindi and Urdu frequently assert that they are distinct languages. The grammar of Hindi and Urdu
1298-589: A policy continued by the Mughal Empire , which extended over most of northern South Asia from the 16th to 18th centuries and cemented Persian influence on Hindustani. Urdu was patronised by the Nawab of Awadh and in Lucknow , the language was refined, being not only spoken in the court, but by the common people in the city—both Hindus and Muslims; the city of Lucknow gave birth to Urdu prose literature, with
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#17327719951101416-507: A sectarian divide of "Urdu" for Muslims and "Hindi" for Hindus, a divide that was formalised with the partition of colonial India into the Dominion of India and the Dominion of Pakistan after independence (though there are Hindu poets who continue to write in Urdu, including Gopi Chand Narang and Gulzar ). Urdu had been used as a literary medium for British colonial Indian writers from
1534-481: A significant role in the development of the Urdu register. Hindi became the distinct register spoken by those who sought to construct a Hindu identity in the face of colonial rule. As Hindi separated from Hindustani to create a distinct spiritual identity, Urdu was employed to create a definitive Islamic identity for the Muslim population in India. Urdu's use was not confined only to northern India – it had been used as
1652-575: A strong case for attracting strategic partnerships necessary for providing technological expertise and assistance. The integration of the three exchanges has completed the second phase of the Stock Exchanges Demutualization and Integration Act 2012, passed by a joint session of the Parliament . The Shanghai Stock Exchange became a major shareholder with a 40% stake in the PSX. PSX is integrated with China's stock market through
1770-614: A symbol of their religious identity. Hindus in northwestern India, under the Arya Samaj agitated against the sole use of the Perso-Arabic script and argued that the language should be written in the native Devanagari script, which triggered a backlash against the use of Hindi written in Devanagari by the Anjuman-e-Islamia of Lahore. Hindi in the Devanagari script and Urdu written in the Perso-Arabic script established
1888-419: A uniting language. Urdu was chosen as a symbol of unity for the new Dominion of Pakistan in 1947, because it had already served as a lingua franca among Muslims in north and northwest of British Indian Empire . Urdu is also seen as a repertory for the cultural and social heritage of Pakistan. While Urdu and Islam together played important roles in developing the national identity of Pakistan, disputes in
2006-465: A vehicle of poetry, (especially under the Bahmanids ), and is known as Dakhini , which contains loanwords from Telugu and Marathi . From the 13th century until the end of the 18th century; the language now known as Urdu was called Hindi , Hindavi , Hindustani , Dehlavi , Dihlawi , Lahori , and Lashkari . The Delhi Sultanate established Persian as its official language in India,
2124-464: A very significant number among the nearly 800 districts of India, there is a small Urdu-speaking minority at least. In Araria district , Bihar, there is a plurality of Urdu speakers and near-plurality in Hyderabad district, Telangana (43.35% Telugu speakers and 43.24% Urdu speakers). Some Indian Muslim schools ( Madrasa ) teach Urdu as a first language and have their own syllabi and exams. In fact,
2242-548: Is a protected language in the constitution. It is also spoken as a minority language in Afghanistan and Bangladesh , with no official status. Urdu and Hindi share a common Sanskrit - and Prakrit -derived vocabulary base, phonology , syntax , and grammar, making them mutually intelligible during colloquial communication . While formal Urdu draws literary, political, and technical vocabulary from Persian , formal Hindi draws these aspects from Sanskrit; consequently,
2360-584: Is in Islamabad , "Islamabad" is commonly used as a metonym for the federal government. The Constitution of Pakistan established and constituted the federal government of four provinces of federation of nation-state, known as State of Pakistan . The Constitution reads as: The Federal Government is Subject to the Constitution. The executive authority of the Federation shall be exercised in
2478-527: Is not officially recognised by the Government of Bangladesh . The Urdu spoken by Stranded Pakistanis in Bangladesh is different from this dialect. Many bilingual or multi-lingual Urdu speakers, being familiar with both Urdu and English, display code-switching (referred to as " Urdish ") in certain localities and between certain social groups. On 14 August 2015, the Government of Pakistan launched
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#17327719951102596-488: Is one variety, is spoken much more widely, forming the third most commonly spoken language in the world, after Mandarin and English . The syntax (grammar), morphology , and the core vocabulary of Urdu and Hindi are essentially identical – thus linguists usually count them as one single language, while some contend that they are considered as two different languages for socio-political reasons. Owing to interaction with other languages, Urdu has become localised wherever it
2714-593: Is read and written as in other parts of India. A number of daily newspapers and several monthly magazines in Urdu are published in these states. Dhakaiya Urdu is a dialect native to the city of Old Dhaka in Bangladesh , dating back to the Mughal era . However, its popularity, even among native speakers, has been gradually declining since the Bengali Language Movement in the 20th century. It
2832-552: Is said to have arisen as the "language of the camp", or " Zaban-i-Ordu " means " Language of High camps " or natively " Lashkari Zaban " means " Language of Army " even though term Urdu held different meanings at that time. It is recorded that Aurangzeb spoke in Hindvi, which was most likely Persianized, as there are substantial evidence that Hindvi was written in the Persian script in this period. During this time period Urdu
2950-585: Is selected to be the Prime Minister. All members of the federal legislature, the Parliament, are directly elected. Elections in Pakistan take place every five years by universal adult suffrage. There are four provincial governments that rule the four provinces of the state. The Chief Minister heads the provincial government. All provincial assemblies are unicameral , elected for five years. The Governors appointed by President after consulting
3068-497: Is shared, though formal Urdu makes more use of the Persian "-e-" izafat grammatical construct (as in Hammam-e-Qadimi , or Nishan-e-Haider ) than does Hindi. The following table shows the number of Urdu speakers in some countries. Government of Pakistan The Government of Pakistan ( Urdu : حکومتِ پاکستان , romanized : hukūmat-e-pākistān ) (abbreviated as GoP ), constitutionally known as
3186-729: Is spoken by large numbers of migrant South Asian workers in the major urban centres of the Persian Gulf countries. Urdu is also spoken by large numbers of immigrants and their children in the major urban centres of the United Kingdom , the United States, Canada, Germany, New Zealand, Norway, and Australia. Along with Arabic , Urdu is among the immigrant languages with the most speakers in Catalonia . Religious and social atmospheres in early nineteenth century India played
3304-492: Is spoken, including in Pakistan. Urdu in Pakistan has undergone changes and has incorporated and borrowed many words from regional languages, thus allowing speakers of the language in Pakistan to distinguish themselves more easily and giving the language a decidedly Pakistani flavor. Similarly, the Urdu spoken in India can also be distinguished into many dialects such as the Standard Urdu of Lucknow and Delhi , as well as
3422-527: Is the national language and lingua franca of Pakistan , where it is also an official language alongside English . In India , Urdu is an Eighth Schedule language , the status and cultural heritage of which are recognised by the Constitution of India ; and it also has an official status in several Indian states. In Nepal , Urdu is a registered regional dialect and in South Africa , it
3540-481: Is used in education , literature , office and court business, although in practice, English is used instead of Urdu in the higher echelons of government. Article 251(1) of the Pakistani Constitution mandates that Urdu be implemented as the sole language of government, though English continues to be the most widely used language at the higher echelons of Pakistani government. Urdu is also one of
3658-702: The Asian Development Bank for capital market reforms. This led to the replacement of the traditional open outcry system with the automated Karachi Automated Trading System (KATS). Securities and Exchange Commission of Pakistan was founded in 1999 with the aim to reform the capital markets . Khalid Mirza was appointed as SECP Chairman in March 2000. Upon taking office, Mirza found the Karachi Stock Exchange characterized by extensive market manipulation and unethical practices. Despite
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3776-575: The Bombay , Bengal , Orissa , and Hyderabad State as well. Before independence, Muslim League leader Muhammad Ali Jinnah advocated the use of Urdu, which he used as a symbol of national cohesion in Pakistan. After the Bengali language movement and the separation of former East Pakistan , Urdu was recognised as the sole national language of Pakistan in 1973, although English and regional languages were also granted official recognition. Following
3894-491: The British Raj , and its concepts and procedures resemble those of Anglo-Saxon countries . Institutional and judicial procedures were later changed, in 1950s, under the influence of American legal system to remove the fundamental rights problems. The judiciary consists of the Supreme Court of Pakistan , Provincial High Courts , District Courts , Anti-terrorism courts , Sharia courts , and Environmental courts all over
4012-511: The CSS examinations . Not all the employees of the Government of Pakistan are civil servants; other employees of the Government of Pakistan come from the scientific institutions, state-owned corporations and commissioned military science circles. In the parliamentary democracy , the ultimate responsibility for running the administration rests with the elected representatives of the people who are
4130-725: The Cabinet Secretary of Pakistan , whose appointment comes from the Civil Services of Pakistan. Other Ministers are Ministers of State , junior members who report directly to one of the Cabinet Ministers, often overseeing a specific aspect of government. Once appointed by the Prime Minister, all Cabinet Ministers are officially confirmed to their appointment offices by the President in a special oath of ceremony. The President of Pakistan , officially
4248-671: The Central Hindi Directorate was established earlier in 1960, and the promotion of Hindi is better funded and more advanced, while the status of Urdu has been undermined by the promotion of Hindi. Private Indian organisations such as the Anjuman-e-Tariqqi Urdu, Deeni Talimi Council and Urdu Mushafiz Dasta promote the use and preservation of Urdu, with the Anjuman successfully launching a campaign that reintroduced Urdu as an official language of Bihar in
4366-402: The Constitution in the Parliament , the Prime Minister and the Supreme Court . The powers and duties of these branches are further defined by acts and amendments of the Parliament, including the creation of executive institutions, departments and courts inferior to the Supreme Court . By constitutional powers, the President promulgates ordinances and passes bills. The President acts as
4484-687: The Dakhni ( Deccan ) of South India. Because of Urdu's similarity to Hindi , speakers of the two languages can easily understand one another if both sides refrain from using literary vocabulary. Although Urdu is widely spoken and understood throughout all of Pakistan, only 9% of Pakistan's population spoke Urdu according to the 2023 Pakistani census . Most of the nearly three million Afghan refugees of different ethnic origins (such as Pashtun , Tajik , Uzbek , Hazarvi , and Turkmen ) who stayed in Pakistan for over twenty-five years have also become fluent in Urdu. Muhajirs since 1947 have historically formed
4602-527: The Devanagari and Latin script ( Roman Urdu ) to allow its survival, or whether this will only hasten its demise and that the language can only be preserved if expressed in the Perso-Arabic script. For Pakistan, Willoughby & Aftab (2020) argued that Urdu originally had the image of a refined elite language of the Enlightenment, progress and emancipation, which contributed to the success of
4720-691: The Federal Government , commonly known as the Centre , is the national authority of the Islamic Republic of Pakistan , a federal republic located in South Asia , consisting of four provinces and one federal territory . The territories of Gilgit-Baltistan and Azad Kashmir are also part of the country but have separate systems and are not part of the federation. Under the Constitution , there are three primary branches of
4838-490: The Government of Pakistan decided to merge the three large exchange markets of the country (based in Karachi, Lahore, and Islamabad) into one combined market. The PSX was launched on 11 January 2016. Prior to the formal launch, the Karachi Stock Exchange held a two-day pre-production mock trading session for all certificate holders of the three exchanges. The integration is expected to help reduce market fragmentation and create
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4956-527: The Ilm Pakistan movement, with a uniform curriculum in Urdish. Ahsan Iqbal , Federal Minister of Pakistan, said "Now the government is working on a new curriculum to provide a new medium to the students which will be the combination of both Urdu and English and will name it Urdish." Standard Urdu is often compared with Standard Hindi . Both Urdu and Hindi, which are considered standard registers of
5074-610: The Khariboli dialect of the Delhi region). Dakhni (also known as Dakani, Deccani, Desia, Mirgan) is spoken in Deccan region of southern India . It is distinct by its mixture of vocabulary from Marathi and Konkani , as well as some vocabulary from Arabic, Persian and Chagatai that are not found in the standard dialect of Urdu. Dakhini is widely spoken in all parts of Maharashtra , Telangana , Andhra Pradesh and Karnataka . Urdu
5192-548: The President of the Islamic Republic of Pakistan , is the ceremonial head of state of Pakistan and the commander-in-chief of the Pakistan Armed Forces . The office of president was created upon the proclamation of Islamic Republic on 23 March 1956. The then serving governor-general , Major-General Iskander Mirza , assumed office as the first president. Following the 1958 coup d'etat ,
5310-482: The Punjabi elite of Pakistan, have adopted Urdu as a mother tongue and identify with both an Urdu speaker as well as Punjabi identity. Urdu was chosen as a symbol of unity for the new state of Pakistan in 1947, because it had already served as a lingua franca among Muslims in north and northwest British India . It is written, spoken and used in all provinces/territories of Pakistan , and together with English as
5428-575: The Supreme Judicial Council Article 209 an inquiry into the capacity or conduct of a Judge, who is a member of the council, may be conducted. The civil service of Pakistan is the permanent bureaucracy of the Government of Pakistan. The civil servants are the permanent officials of the government, occupying a respected image in the civil society . Civil servants come from different cadres (e.g. Pakistan Administrative Service , Police Service of Pakistan etc.) after passing
5546-463: The chairman of Senate exercises the responsibilities of the post, until the actual president resumes office, or the next office holder is elected . There have been a total of 13 presidents . The first president was Iskander Ali Mirza who entered office on 23 March 1956. The current office holder is Asif Ali Zardari , who took charge on 10 March 2024, following his victory in the 2023 elections . Pakistan's independent judicial system began under
5664-399: The de jure legal status and de facto political status of Urdu, how much Urdu is used as language of instruction and chosen by students in higher education, and how the maintenance and development of Urdu is financially and institutionally supported by governments and NGOs. In India, although Urdu is not and never was used exclusively by Muslims (and Hindi never exclusively by Hindus),
5782-425: The military takeover in 1977 reversed the changes. The 8th Amendment turned Pakistan into a semi-presidential republic and in the period between 1985 and 2010, the executive power was shared by president and prime minister. The 18th Amendment in 2010 restored Parliamentary Democracy in the country, and reduced presidency to a ceremonial position. The constitution prohibits the president from directly running
5900-547: The 18th century and two similar standard forms came into existence in Delhi and Lucknow . Since the partition of India in 1947, a third standard has arisen in the Pakistani city of Karachi . Deccani , an older form used in southern India , became a court language of the Deccan sultanates by the 16th century. Urdu has a few recognised dialects, including Dakhni , Dhakaiya , Rekhta , and Modern Vernacular Urdu (based on
6018-483: The 1950s (particularly those in East Pakistan , where Bengali was the dominant language), challenged the idea of Urdu as a national symbol and its practicality as the lingua franca . The significance of Urdu as a national symbol was downplayed by these disputes when English and Bengali were also accepted as official languages in the former East Pakistan (now Bangladesh ). Urdu is the sole national, and one of
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#17327719951106136-479: The 1960s, the Urdu lobby and eventually the Urdu language in Pakistan has been associated with religious Islamism and political national conservatism (and eventually the lower and lower-middle classes, alongside regional languages such as Punjabi, Sindhi, and Balochi), while English has been associated with the internationally oriented secular and progressive left (and eventually the upper and upper-middle classes). Despite governmental attempts at Urduisation of Pakistan,
6254-657: The 1970s. In the former Jammu and Kashmir state , section 145 of the Kashmir Constitution stated: "The official language of the State shall be Urdu but the English language shall unless the Legislature by law otherwise provides, continue to be used for all the official purposes of the State for which it was being used immediately before the commencement of the Constitution." Urdu became a literary language in
6372-690: The 1979 Soviet Invasion of Afghanistan and subsequent arrival of millions of Afghan refugees who have lived in Pakistan for many decades, many Afghans, including those who moved back to Afghanistan, have also become fluent in Hindi-Urdu, an occurrence aided by exposure to the Indian media, chiefly Hindi-Urdu Bollywood films and songs. There have been attempts to purge Urdu of native Prakrit and Sanskrit words, and Hindi of Persian loanwords – new vocabulary draws primarily from Persian and Arabic for Urdu and from Sanskrit for Hindi. English has exerted
6490-400: The Cabinet ministers as well as the Prime Minister must be members of Parliament (MPs), according to the constitution. The Prime Minister and the Cabinet Ministers are jointly accountable to the Parliament. If there is a policy failure or lapse on the part of the government, all the members of the cabinet are jointly responsible. If a vote of no confidence is passed against the government, then
6608-594: The Capital was relocated to Delhi and named Shahjahanabad and the Bazar of the town was named Urdu e Muallah. In the Akbar era the word Rekhta was used to describe Urdu for the first time. It was originally a Persian word that meant "to create a mixture". Amir Khusrau was the first person to use the same word for Poetry. Before the standardisation of Urdu into colonial administration, British officers often referred to
6726-593: The China Connect Interface, allowing Chinese investors to more easily enter Pakistan's stock markets. Notable companies in which PSX owns controlling or significant minority stakes include: Urdu language Urdu ( / ˈ ʊər d uː / ; اُردُو , pronounced [ʊɾduː] , ALA-LC : Urdū ) is a Persianised register of the Hindustani language , an Indo-Aryan language spoken chiefly in South Asia . It
6844-408: The Constitution, and this is the name that appears on money, in treaties, and in legal cases. The "Pakistan Government" or "Government of Pakistan" are often used in official documents representing the federal government collectively. Also, the terms "Federal" and "National" in government institutions or program names generally indicate affiliation with the federal government. As the seat of government
6962-465: The Delhi region of India the native language was Khariboli , whose earliest form is known as Old Hindi (or Hindavi). It belongs to the Western Hindi group of the Central Indo-Aryan languages. The contact of Hindu and Muslim cultures during the period of Islamic conquests in the Indian subcontinent (12th to 16th centuries) led to the development of Hindustani as a product of a composite Ganga-Jamuni tehzeeb . In cities such as Delhi,
7080-426: The English liked to use the name "Moors" for Urdu: I have a deep knowledge [ je possède à fond ] of the common tongue of India, called Moors by the English, and Ourdouzebain by the natives of the land. Several works of Sufi writers like Ashraf Jahangir Semnani used similar names for the Urdu language. Shah Abdul Qadir Raipuri was the first person who translated The Quran into Urdu. During Shahjahan's time,
7198-405: The Government of Pakistan. Taxation is a debated and controversial issue in public and political science circle of the country, and according to the International Development Committee , Pakistan had a lower-than-average tax take. Only 0.57% of Pakistanis, or 768,000 people out of a population of 190 million pay income tax. The Finance Minister of Pakistan presents the annual federal budget in
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#17327719951107316-420: The Heathens, or from the Persians, or other Nations. In 1715, a complete literary Diwan in Rekhta was written by Nawab Sadruddin Khan . An Urdu-Persian dictionary was written by Khan-i Arzu in 1751 in the reign of Ahmad Shah Bahadur . The name Urdu was first introduced by the poet Ghulam Hamadani Mushafi around 1780. As a literary language, Urdu took shape in courtly, elite settings. While Urdu retained
7434-405: The Indian government do not actively support the preservation of Urdu in professional and official spaces. Because the Pakistani government proclaimed Urdu the national language at Partition, the Indian state and some religious nationalists began in part to regard Urdu as a 'foreign' language, to be viewed with suspicion. Urdu advocates in India disagree whether it should be allowed to write Urdu in
7552-427: The Parliament in the midst of the year, and it has to be passed by both houses of the Parliament . The budget is preceded by an economic survey which outlines the broad direction of the budget and the economic performance of the country for the outgoing financial fiscal year. Constituted under the Article 160 of the Constitution of Pakistan by the Constitution, the National Finance Commission Award (NFC) program
7670-414: The President on a "required and necessary" basis, upon consultation and approval from the prime minister. The president is indirectly elected by the Electoral College for a five-year term. The Constitution requires the president to be a " Muslim of not less than forty five (45) years of age". The president resides in an estate in Islamabad known as Aiwan-e-Sadar (President's House). In his absence,
7788-496: The Prime Minister (responsible for Prime Minister's Office), Secretary Interior (responsible for law and order), Secretary Finance (responsible for the country's treasury), Secretary Foreign Affairs (responsible for foreign relations), Secretary Maritime Affairs (responsible for ports and shipping), Secretary Power (responsible for the electricity and power sector), Secretary Planning and Development (responsible for development projects), Secretary Petroleum (responsible for
7906-413: The Prime Minister, according to Article 242 of the Constitution. Since 1947, Pakistan has an asymmetric federal government , with elected officials at the national (federal), provincial, tribal, and local levels. Constitution has set the limit of government for five years, but if a Vote of no confidence movements takes place in the parliament (and prelude of movements are proved at the Judicial branch),
8024-506: The Prime minister, act only as representatives of federal government in the province and do not have any part in running the government. The provincial governments tend to have the greatest influence over most Pakistanis ' daily lives. The Local government functions at the basic level. It is the third level of government, consisting Jirga in rural tribal areas. Pakistan has a complex taxation system of more than 70 unique taxes administered by at least 37 tax collection institutions of
8142-459: The SECP issued the Companies (Buy-back of Shares) Rules, 1999, which established detailed regulations and procedures for corporate share repurchases, commonly known as treasury stock . In 2002, Alhamd Textile Mills, a textile company based in Multan , became the first company in the history of stock exchange to buy back shares from its shareholders under these new regulations. The Pakistan Stock Exchange (PSX) came into existence in January 2016 when
8260-405: The Supreme Court to make judicature transfers. Although the proceedings in the Supreme Court arise out of the judgement or orders made by the subordinate courts, the Supreme Court reserves the right to transfer any case, appeal or proceedings pending before any High Court to any other High Court. Misconduct of judges is highly intolerable as is mentioned in the constitution. Under the mainframe of
8378-445: The absorption of vocabulary from various regional Pakistani languages, while some Urdu vocabularies has also been assimilated by Pakistan's regional languages. Some who are from a non-Urdu background now can read and write only Urdu. With such a large number of people(s) speaking Urdu, the language has acquired a peculiar Pakistani flavor further distinguishing it from the Urdu spoken by native speakers, resulting in more diversity within
8496-407: The ancient language Old Hindi began to acquire many Persian loanwords and continued to be called "Hindi" and later, also "Hindustani". An early literary tradition of Hindavi was founded by Amir Khusrau in the late 13th century. After the conquest of the Deccan , and a subsequent immigration of noble Muslim families into the south, a form of the language flourished in medieval India as
8614-668: The ceremonial figurehead while the people-elected Prime Minister acts as the Chief Executive (of the executive branch) and is responsible for running the federal government. There is a bicameral Parliament with the National Assembly as a Lower house and the Senate as an upper house. The most influential officials in the Government of Pakistan are considered to be the Federal Secretaries , who are
8732-798: The citizens of Pakistan are set down in major parliamentary legislation (a term inherited from the United Kingdom ), such as the Exit Control List , the Pakistan Penal Code , and the Frontier Crimes Regulations . By the Article 246th and Article 247th to the constitution, the Islamic Jirga (or Panchayat ) system has become an institution for local governance. The 1950s reforms in
8850-532: The country; Supreme Court being the superior court. The Supreme Court of Pakistan consists of a Chief Justice, and Senior Justices appointed by the President after consultation with the Chief Justice of Pakistan . The Constitution does not fix the number of justices of the Supreme Court, though it can be fixed by Parliament through an act signed by the President. The Constitution grants powers to
8968-599: The court language of various Indo-Islamic empires . Religious, social, and political factors arose during the European colonial period that advocated a distinction between Urdu and Hindi, leading to the Hindi–Urdu controversy . According to 2022 estimates by Ethnologue and The World Factbook , produced by the Central Intelligence Agency (CIA), Urdu is the 10th-most widely spoken language in
9086-415: The early 21st century an increasing percentage of Indian Muslims began switching to Hindi due to socio-economic factors, such as Urdu being abandoned as the language of instruction in much of India, and having limited employment opportunities compared to Hindi, English and regional languages. The number of Urdu speakers in India fell 1.5% between 2001 and 2011 (then 5.08 million Urdu speakers), especially in
9204-414: The exalted camp . Earlier it was known as Hindvi, Hindi and Hindustani . Urdu, like Hindi , is a form of Hindustani language . Some linguists have suggested that the earliest forms of Urdu evolved from the medieval (6th to 13th century) Apabhraṃśa register of the preceding Shauraseni language , a Middle Indo-Aryan language that is also the ancestor of other modern Indo-Aryan languages. In
9322-462: The exchange, controlling 60 percent of its board of directors even after new SECP regulations aimed to limit their management role. The SECP was granted authority to regulate accountants, but penalties for misconduct remained minimal, at $ 30 per offense. Mirza and his team faced entrenched vested interests resistant to reform, and challenges in enforcing transparency and accountability in Pakistan's financial markets continued. On December 14, 1999,
9440-469: The executive branch – an attempt to preserve individual liberty in response to tyrannical leadership throughout history. The Prime Minister of Pakistan ( Urdu : وزیراعظم ; lit: 'Wazir-e- Azam ), is the executive head of government of Pakistan, constitutionally designated as the Chief Executive (CE). Popularly elected by direct elections in the parliament, the Prime minister is responsible for appointing
9558-535: The government administration, the constitutional law and jurisprudence in Pakistan have been greatly influenced by the United States Of America ' legal system. Since the 1970s, the traditional jirga -based law has also been in place in a few areas, and has influenced the country's judicial development. The legislative branch has two houses, which combined are known as the Parliament of Pakistan The Parliament enjoys parliamentary supremacy . All
9676-433: The government collapses and a new one must be formed. By general definition, the executive branch of government is the one that has sole authority and responsibility for the daily administration of the state bureaucracy . The division of power into separate branches of government is central to the republican idea of the separation of powers . The separation of powers system is designed to distribute authority away from
9794-412: The government falls and immediately replaced with caretaker government initiated by the president (consultation of Prime Minister also required to make such move), in regards to Article 58 of the constitution. There has been four times that the martial law has been in effect, and controversially approved by the supreme court . Through a general election where the leader of the majority winning party
9912-421: The government. Instead, the executive power is exercised on his behalf by the prime minister who keeps him informed on all matters of internal and foreign policy , as well as all legislative proposals. The Constitution however, vests the president with the powers of granting pardons, reprieves , and the control over the military ; however, all appointments at higher commands of the military must be made by
10030-529: The grammar and core Indo-Aryan vocabulary of the local Indian dialect Khariboli, it adopted the Nastaleeq writing system – which was developed as a style of Persian calligraphy. Throughout the history of the language, Urdu has been referred to by several other names: Hindi, Hindavi, Rekhta, Urdu-e-Muallah, Dakhini , Moors and Dehlavi . In 1773, the Swiss French soldier Antoine Polier notes that
10148-406: The highest ranking bureaucrats in the country and run cabinet-level ministries and divisions. The judicial branch systematically contains an apex Supreme Court , Federal Shariat Court , High courts of five provinces , district, anti-terrorism , and the green courts; all inferior to the Supreme Court. The full name of the country is the Islamic Republic of Pakistan . No other name appears in
10266-480: The independence movement. But after the 1947 Partition , when it was chosen as the national language of Pakistan to unite all inhabitants with one linguistic identity, it faced serious competition primarily from Bengali (spoken by 56% of the total population, mostly in East Pakistan until that attained independence in 1971 as Bangladesh ), and after 1971 from English. Both pro-independence elites that formed
10384-554: The language as " Moors " or "Moorish jargon". John Gilchrist was the first in British India to begin a systematic study on Urdu and began to use the term "Hindustani" what the majority of Europeans called "Moors", authoring the book The Strangers's East Indian Guide to the Hindoostanee or Grand Popular Language of India (improperly Called Moors) . Urdu was then promoted in colonial India by British policies to counter
10502-458: The language in the Perso-Arabic script in courts and government offices, though Hindus continued to employ the Devanagari script in certain literary and religious contexts. Through the late 19th century, people did not view Urdu and Hindi as being two distinct languages, though in urban areas, the standardised Hindustani language was increasingly being referred to as Urdu and written in the Perso-Arabic script. Urdu and English replaced Persian as
10620-575: The language of Bollywood films tend to contain a large number of Persian and Arabic words and thus considered to be "Urdu" in a sense, especially in songs. India has more than 3,000 Urdu publications, including 405 daily Urdu newspapers. Newspapers such as Neshat News Urdu , Sahara Urdu , Daily Salar , Hindustan Express , Daily Pasban , Siasat Daily , The Munsif Daily and Inqilab are published and distributed in Bangalore, Malegaon, Mysore, Hyderabad, and Mumbai . Outside South Asia, it
10738-883: The language. In India, Urdu is spoken in places where there are large Muslim minorities or cities that were bases for Muslim empires in the past. These include parts of Uttar Pradesh , Madhya Pradesh , Bihar , Telangana , Andhra Pradesh , Maharashtra ( Marathwada and Konkanis), Karnataka and cities such as Hyderabad , Lucknow , Delhi , Malerkotla , Bareilly , Meerut , Saharanpur , Muzaffarnagar , Roorkee , Deoband , Moradabad , Azamgarh , Bijnor , Najibabad , Rampur , Aligarh , Allahabad , Gorakhpur , Agra , Firozabad , Kanpur , Badaun , Bhopal , Hyderabad , Aurangabad , Bangalore , Kolkata , Mysore , Patna , Darbhanga , Gaya , Madhubani , Samastipur , Siwan , Saharsa , Supaul , Muzaffarpur , Nalanda , Munger , Bhagalpur , Araria , Gulbarga , Parbhani , Nanded , Malegaon , Bidar , Ajmer , and Ahmedabad . In
10856-759: The leadership of the Muslim League in Pakistan and the Hindu-dominated Congress Party in India had been educated in English during the British colonial period, and continued to operate in English and send their children to English-medium schools as they continued dominate both countries' post-Partition politics. Although the Anglicized elite in Pakistan has made attempts at Urduisation of education with varying degrees of success, no successful attempts were ever made to Urduise politics,
10974-466: The legal system, the army, or the economy, all of which remained solidly Anglophone. Even the regime of general Zia-ul-Haq (1977–1988), who came from a middle-class Punjabi family and initially fervently supported a rapid and complete Urduisation of Pakistani society (earning him the honorary title of the 'Patron of Urdu' in 1981), failed to make significant achievements, and by 1987 had abandoned most of his efforts in favour of pro-English policies. Since
11092-404: The main languages of instruction, although the people from differing provinces may have different native languages. Urdu is taught as a compulsory subject up to higher secondary school in both English and Urdu medium school systems, which has produced millions of second-language Urdu speakers among people whose native language is one of the other languages of Pakistan – which in turn has led to
11210-457: The majority population in the city of Karachi , however. Many newspapers are published in Urdu in Pakistan, including the Daily Jang , Nawa-i-Waqt , and Millat . No region in Pakistan uses Urdu as its mother tongue, though it is spoken as the first language of Muslim migrants (known as Muhajirs ) in Pakistan who left India after independence in 1947. Other communities, most notably
11328-488: The merger of the Lahore Stock Exchange and Islamabad Stock Exchange . Investors on the exchanges include 1,886 foreign institutional investors and 883 domestic institutional investors along with about 220,000 retail investors. There are also about 400 brokerage houses which are members of the PSX as well as 21 asset management companies. Founded on 18 September 1947, Karachi Stock Exchange Limited (KSE)
11446-408: The mid-1990s, before settling at around 27.5 million rupees in 2002. From its founding up until May 27, 1998, the Karachi Stock Exchange (KSE) trading hall was characterized by the vocal trading cries of "La-oo" from buyers and "Lay" from sellers, a method known as open outcry . The advent of foreign investors in the early 1990s catalyzed a push for modernization, supported by a $ 125 million loan from
11564-461: The ministers. These ministers are accountable to the legislatures which are also elected by the people on the basis of universal adult suffrage. The cabinet and its ministers are expected to lay down the policy guidelines, and the civil servants are responsible for implementing and enforcing it. The federal secretaries are the most senior, experienced, and capable officials in the country. Each ministry/division has its Secretary to oversee and enforce
11682-403: The most Urdu-speaking states of Uttar Pradesh (c. 8% to 5%) and Bihar (c. 11.5% to 8.5%), even though the number of Muslims in these two states grew in the same period. Although Urdu is still very prominent in early 21st-century Indian pop culture, ranging from Bollywood to social media, knowledge of the Urdu script and the publication of books in Urdu have steadily declined, while policies of
11800-564: The most alive language and moving ahead with times" in India. This phenomenon pertains to the decrease in relative and absolute numbers of native Urdu speakers as opposed to speakers of other languages; declining (advanced) knowledge of Urdu's Perso-Arabic script, Urdu vocabulary and grammar; the role of translation and transliteration of literature from and into Urdu; the shifting cultural image of Urdu and socio-economic status associated with Urdu speakers (which negatively impacts especially their employment opportunities in both countries),
11918-469: The name of the President by the Federal Government, consisting of the Prime Minister and the (Federal) Ministers, which shall act through the Prime Minister, who shall be the chief executive of the Federation. In the performance of his functions under the Constitution, the Prime Minister may act either directly or through the (Federal) Ministers. The basic civil and criminal laws governing
12036-483: The office of prime minister was abolished, leaving the Presidency as the most powerful office in the country. This position was further strengthened when the 1962 Constitution was adopted. It turned Pakistan into a Presidential Republic , giving all executive powers to the president. In 1973, the new Constitution established Parliamentary democracy and reduced president's role to a ceremonial one. Nevertheless,
12154-461: The official languages in northern parts of India in 1837. In colonial Indian Islamic schools, Muslims were taught Persian and Arabic as the languages of Indo-Islamic civilisation ; the British, in order to promote literacy among Indian Muslims and attract them to attend government schools, started to teach Urdu written in the Perso-Arabic script in these governmental educational institutions and after this time, Urdu began to be seen by Indian Muslims as
12272-578: The officially recognised languages in India and also has the status of "additional official language" in the Indian states of Andhra Pradesh , Uttar Pradesh , Bihar , Jharkhand , West Bengal , Telangana and the national capital territory Delhi . Also as one of the five official languages of Jammu and Kashmir . India established the governmental Bureau for the Promotion of Urdu in 1969, although
12390-438: The ongoing Hindi–Urdu controversy and modern cultural association of each language with the two religions has led to fewer Hindus using Urdu. In the 20th century, Indian Muslims gradually began to collectively embrace Urdu (for example, 'post-independence Muslim politics of Bihar saw a mobilisation around the Urdu language as tool of empowerment for minorities especially coming from weaker socio-economic backgrounds' ), but in
12508-545: The petroleum sector) and Secretary Industries (responsible for industrial development). Management of major crisis situations in the country and coordination of activities of the various Ministries in such situations are the functions of the Cabinet Division . Appointment for the chairman of the FPSC , the prestigious body responsible for the recruitment of elite bureaucrats, is made by the President after consulting
12626-518: The position and prestige of English only grew stronger in the meantime. There are over 100 million native speakers of Urdu in India and Pakistan together: there were 50.8 million Urdu speakers in India (4.34% of the total population) as per the 2011 census; and approximately 16 million in Pakistan in 2006. There are several hundred thousand in the United Kingdom, Saudi Arabia, United States, and Bangladesh . However, Hindustani, of which Urdu
12744-484: The previous emphasis on Persian. In colonial India, "ordinary Muslims and Hindus alike spoke the same language in the United Provinces in the nineteenth century, namely Hindustani, whether called by that name or whether called Hindi, Urdu, or one of the regional dialects such as Braj or Awadhi ." Elites from Muslim communities, as well as a minority of Hindu elites, such as Munshis of Hindu origin, wrote
12862-621: The public policy matters. The secretaries, who are basic pay scale (BPS)-22 grade officers, are largely considered to be the most powerful officials in the country. Due to the importance of their respective assignments, there are twelve specific federal secretaries which are considered to be the most vital in the Government of Pakistan. These include the Secretary Establishment (responsible for civil service matters), Secretary Commerce (responsible for trade), Secretary Cabinet (responsible for Cabinet Division), Secretary to
12980-646: The same language, Hindustani (or Hindi-Urdu), share a core vocabulary and grammar . Apart from religious associations, the differences are largely restricted to the standard forms : Standard Urdu is conventionally written in the Nastaliq style of the Persian alphabet and relies heavily on Persian and Arabic as a source for technical and literary vocabulary, whereas Standard Hindi is conventionally written in Devanāgarī and draws on Sanskrit . However, both share
13098-583: The style of Urdu spoken on a day-to-day basis in Pakistan is akin to neutral Hindustani that serves as the lingua franca of the northern Indian subcontinent. Since at least 1977, some commentators such as journalist Khushwant Singh have characterised Urdu as a "dying language", though others, such as Indian poet and writer Gulzar (who is popular in both countries and both language communities, but writes only in Urdu (script) and has difficulties reading Devanagari, so he lets others 'transcribe' his work) have disagreed with this assessment and state that Urdu "is
13216-618: The two languages' mutual intelligibility effectively decreases as the factor of formality increases. Urdu originated in the area of the Ganges-Yamuna Doab , though significant development occurred in the Deccan Plateau . In 1837, Urdu became an official language of the British East India Company , replacing Persian across northern India during Company rule ; Persian had until this point served as
13334-425: The two official languages of Pakistan (along with English). It is spoken and understood throughout the country, whereas the state-by-state languages (languages spoken throughout various regions) are the provincial languages , although only 7.57% of Pakistanis speak Urdu as their first language. Its official status has meant that Urdu is understood and spoken widely throughout Pakistan as a second or third language. It
13452-455: The world , with 230 million total speakers, including those who speak it as a second language . The name Urdu was first used by the poet Ghulam Hamadani Mushafi around 1780 for Hindustani language even though he himself also used Hindavi term in his poetry to define the language. Ordu means army in the Turkic languages . In late 18th century, it was known as Zaban-e-Urdu-e-Mualla زبانِ اُرْدُوئے مُعَلّٰی means language of
13570-401: Was a trend of companies delisting and liquidating assets, contributing to economic decline. His efforts to reform the capital markets faced significant resistance, including public protests from stock exchange brokers who labeled him an "American agent." Despite efforts to clean up the market, significant issues persisted. Manipulation continued, and brokers maintained substantial influence over
13688-544: Was intentioned as means of unification for Muslims in Northern India and later Pakistan, it adopted a modified Perso-Arabic script. Urdu continued its role in developing a Pakistani identity as the Islamic Republic of Pakistan was established with the intent to construct a homeland for the Muslims of Colonial India. Several languages and dialects spoken throughout the regions of Pakistan produced an imminent need for
13806-555: Was referred to as "Moors", which simply meant Muslim, by European writers. John Ovington wrote in 1689: The language of the Moors is different from that of the ancient original inhabitants of India but is obliged to these Gentiles for its characters. For though the Moors dialect is peculiar to themselves, yet it is destitute of Letters to express it; and therefore, in all their Writings in their Mother Tongue, they borrow their letters from
13924-665: Was registered in Pakistan . It was located at the Stock Exchange Building (SEB) on Stock Exchange Road, in the heart of Karachi 's business district off I. I. Chundrigar Road (then known as McLeod Rd). Since its establishment, the number of members at the KSE had been capped at 200, with each member possessing a trading card. The value of these cards had experienced volatility, rising from slightly more than one million rupees before 1990 to approximately 40 million rupees in
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