Vintage car owners on a drive to promote a softer image of Pakistan

Updated 08 December 2018
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Vintage car owners on a drive to promote a softer image of Pakistan

  • Urge government to lift ban on import of classic vehicles
  • Annual event was attended by several in the capital

ISLAMABAD: A vast array of vintage cars, including Pakistan's founding father, Muhammad Ali Jinnah’s Rolls-Royce Silver Ghost, attracted a large number of car enthusiasts to a show in Islamabad on Friday, providing them with a first-hand opportunity to pose with classic vehicles.

The exhibition is part of an annual rally organized by the Vintage & Classic Car Club of Pakistan. This year's edition began in Karachi on December 1 and will end in Peshawar on December 9. 




Owners of vintage car showcased more than two dozen classic vehicles on Friday, at a sprawling lawn of a private restaurant, as part of their annual rally to promote a softer image of Pakistan.

Owners of the glittering and colorful vintage and classic cars said that the main purpose of the event was to travel across the country to promote a “soft image of Pakistan”.

Ali Leghari, who owns a 1964 model Ferrari 250 California, is travelling with his family for the rally. “I hope my little contribution will help promote a positive image of Pakistan,” he said. 




Ali Leghari, owner of the 1964 model Ferrari 250 California, took part in the vintage car rally along with his wife and children.

A vintage car aficionado, Leghari said he has been driving the Ferrari 250 since 1993.

Advocate Zafar Durrani, another car enthusiast, drives a Morris Garages 1959. He says he bought it three years ago from a vintage car dealer in Lahore. “This is a passion with a mission – the mission is to create awareness about the vintage cars. It is a heritage, we should preserve it,” he said. 




The vintage car show featuring over two dozen classic vehicles attracted a large number of car enthusiasts here in Islamabad on Friday.

Another visual at the exhibition is the 1965 Ford Mustang which stands out at the gathering for its unique shape and design. Its owner, Liaqat Malik, says that he has had the car since 2003. “I have spent a lot of money on its maintenance, but I’m happy to have this asset,” he said.

Other classic cars in the show included, an Aston Martin, Mercedes, MGs, Buick, Cadillac, and the Jaguar. 




The vintage car show featuring over two dozen classic vehicles attracted a large number of car enthusiasts here in Islamabad on Friday.

Car enthusiasts were jubilant to learn about the classics, taking selfies, and updating their social media feeds with the pictures. 




The car show is part of an annual rally organised by the Vintage & Classic Car Club of Pakistan. This year's edition began from Karachi on December 1 and will end in Peshawar on December 9.


Salma Baig, a businesswoman who recently sold her Cadillac, said that she was pleased to be a part of the show and was looking forward to buying another Cadillac. “It is not easy to buy a vintage car. It takes months and sometimes years to find a unique and original classic; and then convince the owner to sell it,” she said.

Urging the government to lift the ban on the import of vintage cars, Baig said: “Lifting the ban will open a new market and bring new business opportunities to Pakistan, along with satiating the thirst of classic car-lovers.”


Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

Updated 22 January 2026
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Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

  • Pak-Qatar General Takaful Limited offered 30 million shares to investors with ceiling price of Rs14 per share
  • Company says IPO proceeds will be used for investments in software, infrastructure, setting up new branches

ISLAMABAD: Pakistan’s first non-life Shariah-compliant takaful operator announced on Thursday that its initial public offering (IPO) was oversubscribed 21 times at the country’s stock exchange, saying the development reflected strong investor confidence in the Islamic insurance system. 

The Pak-Qatar General Takaful Limited said earlier this month 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 percent of the shares on offer, while the remaining 25 percent will be allocated to retail investors, it added. 

“Pak-Qatar General Takaful Limited’s (PQGTL) IPO book-building has concluded with a historic oversubscription of [21x] times, marking the first-ever IPO of a dedicated General Takaful company at PSX,” the company said in a statement. 

It said investors responded “strongly” as the strike price closed at Rs 14 per share, compared to the floor price of Rs 10. Total demand reached Rs 4.74 billion [$17 million].

The company said successful bidders will be provisionally allotted 22.5 million shares while the remaining 7.5 million shares will be offered to retail investors on Jan. 28-29. 

Shahid Ali Habib, CEO of Arif Habib Ltd., which was the lead manager for the IPO, said that country’s first-ever IPO of any dedicated general takaful company, has made a historic debut at PSX.

Habib said this reflects investor confidence in Pakistan’s fast-growing takaful sector and PQGTL’s strong market position.

The statement further said proceeds from the IPO will be utilized to fund strategic initiatives, such as investments in software and other intangible assets, hardware and infrastructure, marketing and brand development and human resource enhancement. 

Proceeds will also be used to establish new branches and transform existing ones to improve operational efficiency and customer experience, it added. 

Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.