In the PM’s dressing room: Meet the man making couture suiting for Imran Khan

In this undated photo, Pakistani Prime Minister Imran Khan poses for a New York Times photo shoot wearing a traditional shalwar kameez suit with a waistcoat. (New York Times photo)
Updated 16 May 2019
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In the PM’s dressing room: Meet the man making couture suiting for Imran Khan

  • Islamabad-based brand Mohtaram stitched seven shalwar kameez suits for Imran Khan last month
  • “This is as high as it gets,” said Fahad Saif, the founder and CEO of the luxury brand

ISLAMABAD: When Fahad Saif quit his corporate job in 2016 to start a bespoke suiting business in Islamabad, he never thought he would be designing clothes for the highest office in the land.

About a month ago, a member of the ruling Pakistan Tehreek-e-Insaf party and a longtime client of Saif’s said he would put in a good word about the brand with Prime Minister Imran Khan. A week later, Saif got his first order to make seven shalwar kameez for the premier.

“This is as high as it gets,” Saif, 34, the founder and CEO of luxury clothing brand Mohtaram, told Arab News on Tuesday.

“We just happened to have a few very close clients from the (ruling) political party and they just naturally recommended us to Prime Minister (Imran Khan),” Saif added. “It felt surreal receiving Mr. Khan’s order.”

“It happened so fast that we really didn’t have the time to absorb the entire thing,” the entrepreneur said smilingly when asked about his experience of dressing the prime minister. “Actually I’ll give a lot of credit to him [Khan] and his team that they made it very effortless for us.”

Saif initially started his business by making bespoke shirts and has now moved on to suits, shalwar kameez, waistcoats and even sherwanis, which he is currently designing for PM Khan.

The company’s official tagline is “Made Proudly in Pakistan,” and the concept behind Mohtaram, which means ‘gentleman’ in Urdu, is to combine history, culture and the modern aesthetic to produce clothes for the perfect Pakistani gentleman.

“To be able to deliver our manifesto ‘Made Proudly in Pakistan’ to the highest office was more fulfilling than any other campaign we aspired to work on," Saif posted on his company’s Instagram page.

He says he was thrilled to see Khan wearing one of Mohtaram’s designs during a parliamentary session earlier this week though Arab News could not immediately verify that it was one of Saif’s creations.

“I observed that it seemed like one of our cuts and one of our patterns,” Saif said. “We have a few signature parts to our designs that at least we can now recognize.”

Khan’s measurements for the first order were delivered to Mohtaram but Saif hopes he will get to meet the prime minister personally to take his next order and also speak to him about more government support for startups that Saif said had the potential to contribute to Pakistan’s ailing economy.

“I would probably want to talk [to the PM] about how startups like ours can contribute to the development of the overall economy,” Saif said.


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

Updated 9 sec ago
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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.