ISLAMABAD: Pakistan’s Electronic Media Regulatory Authority (PEMRA) has reminded all media outlets not to cover Valentine’s Day.
PEMRA, in a directive issued on Wednesday, reminded the media of the Islamabad High Court (IHC) ruling on Feb. 13 last year in response to a petition submitted by Addul Waheed, a private citizen, who requested a ban on the celebration of Valentine’s Day and media coverage of it.
“Respondents are directed to ensure that nothing about the celebration of Valentine Day’s and its promotion (appears in) the electronic and print media (and) no event shall be held at at official level and in a public place,” the directive said.
Mohammed Tahir, PEMRA general manager of operations, said in the directive that “the above mentioned order of the Islamabad High Court is still in place.”
“Therefore, all broadcast media and distribution services licensees are advised to desist from promoting Valentine’s Day through their respective channels/ networks.”
Valentine’s Day is celebrated every year on Feb. 14 across the world to show affection for romantic loved ones. Before last year the Pakistani media used to plan special coverage for the day.
PEMRA reminds media of ban on Valentine’s Day coverage
PEMRA reminds media of ban on Valentine’s Day coverage
Pakistan’s first non-life Shariah-compliant takaful operator plans share sale in January
- Pak-Qatar General Takaful Limited plans to raise up to $1.5 million through initial public offering
- Institutional investors will get 75% of shares, while the remaining 25% will go to retail investors
KARACHI: Pakistan’s first dedicated non-life Shariah-compliant takaful operator said on Monday it will launch an initial public offering this month, seeking to raise up to Rs 420 million ($1.5 million) as Islamic finance gains traction in the country’s capital markets.
The company, Pak-Qatar General Takaful Limited, said it would issue 30 million shares, with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75% of the shares on offer, while the remaining 25% will be allocated to retail investors.
“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the initial public offering,” it announced in a statement.
The book-building process for the offering will take place on Jan. 21-22, it added, with investor registration opening on Jan. 16, while public subscriptions are scheduled for Jan. 28-29.
The offering follows the recent listing of Pak-Qatar Family Takaful Limited, which raised Rs 901 million ($3.23 million) last month in Pakistan’s first Islamic insurance sector IPO, an issue that was oversubscribed several times.
Proceeds from the IPO will be used to strengthen the company’s capital base and support investments in technology, infrastructure and branch expansion, said the statement.
Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.
