ISLAMABAD: Pakistani police say a landslide triggered by this week’s rains engulfed a bus carrying workers on a dam project in the northwest, killing eight people.
Regional police chief Raja Abdul Saboor says the incident took place on a hilly road late on Monday. He says rescuers managed to retrieve all the bodies.
The bus was taking workers to their homes from the site of Dasu Dam being built on the Indus River in Kohistan district. Police say there are no survivors but locals fear one or two people are still missing.
Rains and snowfall often cause landslides and flash floods in northern Pakistan where millions live in mountainous areas.
Kohistan is located about 200 kilometers, or 120 miles, north of Mansehra, an impoverished but scenic district in the Pakhtunkhwa province.
Landslide engulfs Pakistani bus with workers, killing 8
Landslide engulfs Pakistani bus with workers, killing 8
- Rescuers managed to retrieve all the bodies
- Rains and snowfall often cause landslides in Pakistan mountainous terrains
Pakistan’s Pak-Qatar Family Takaful to raise $3.9 million in Islamic insurance IPO
- Company to offer 50 million shares with a price band of $0.05–0.07 per share
- Proceeds to support capital needs, digital expansion, new customer-focused products
ISLAMABAD: Pak-Qatar Family Takaful Limited, Pakistan’s largest dedicated Islamic insurance provider, will launch an initial public offering this month to raise about Rs1.1 billion ($3.9 million), with book-building scheduled for Dec. 11–12 and registration opening Dec. 8, the company said in a statement on Friday.
The offer will make Pak-Qatar the first dedicated family takaful operator to list on the Pakistan Stock Exchange, marking a notable development for the country’s insurance landscape, where penetration remains low by global standards. The IPO comes as the company looks to scale operations, strengthen technology channels and widen product distribution in a market where Shariah-compliant savings and protection instruments have grown steadily.
“Pak Qatar Family Takaful Limited is all set to list itself at Pakistan Stock Exchange through an IPO with registration starting 08th December. Through this IPO PQFTL is aiming to raise approx. Rs. 1.1 billion,” the statement said.
The company will offer 50 million shares, starting at a floor price of Rs14 per share ($0.05), with a ceiling of Rs21 per share ($0.07). Of the total issue, 37.5 million shares will be allocated to institutional investors, while 12.5 million shares will be offered to the general public.
Lead manager Shahid Ali Habib of Arif Habib Ltd. said investor response has been strong as the offering represents a sector first. According to the statement, proceeds will be used to meet capital requirements, develop new products and accelerate digital outreach.
Pak-Qatar Family Takaful is the country’s first and largest dedicated shariah-compliant family risk-protection provider, holding 44 percent of the total family takaful market and more than 90 percent of the fully dedicated segment, with a nationwide presence of 73 branches and 1,971 field representatives.
Despite Pakistan’s population size, insurance penetration stood at just 0.7 percent in 2024, the company noted, adding that rising awareness and economic shifts leave room for growth compared with advanced markets where penetration has crossed 10%.
