QUETTA: At least 24 people were killed when a bus in southwest Pakistan burst into flames after crashing with a truck on Monday, officials said.
The bus carrying dozens of passengers was heading from the southern city of Karachi to Panjgur district, when it crashed in Lasbela district.
“We have recovered 24 bodies from the vehicle. All of them were burned,” local administration chief in Lasbela district, Shabir Mengal, told AFP.
“The bus is very hot from the inside, we are taking out bodies slowly.”
Senior police official Agha Ramzan Ali also confirmed the crash and said a rescue operation was underway.
Deadly traffic accidents are very common in Pakistan owing to reckless driving and the bad condition of roads.
Every year hundreds of people lose their lives in traffic related incidents in the country.
24 killed in Pakistan bus crash fire
24 killed in Pakistan bus crash fire
- Bus was heading from Karachi to Panjgur district of Balochistan
- Deadly traffic accidents are very common in Pakistan
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%.
