KARACHI: At least three people were killed and several others injured after security forces opened fire on protesters who attacked the office of the National Database and Registration Authority (NADRA) and a quarantine center at the Chaman crossing-point at the Pak-Afghan border, a senior government official said on Thursday.
“We are investigating the incident, which occurred after a few miscreants provoked the protesters who wanted to go to Afghanistan,” Zia Ullah Langove, home minister Balochistan, told reporters in Quetta.
The protesters were demonstrating against the closure of Chaman border, he said.
The minister added that the angry demonstrators wanted to cross the border. When the authorities refused, however, they attacked the NADRA office and set the quarantine center along the Chaman border ablaze.
Langove said that the security forces first restored to aerial firing, but the situation deteriorated because of some miscreants. “The forces should have not opened straight fire on the protesters,” he said.
The minister, while mentioning the border skirmishes following the incident, said that Pakistan would give a befitting response in case of any action from across the border.
According to a list shared by Civil Hospital Chaman, three people, including an unidentified woman, lost their lives in the incident while tens of others received gunshot wounds.
Three killed after protesters attack NADRA office, quarantine center near Pak-Afghan border – official
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Three killed after protesters attack NADRA office, quarantine center near Pak-Afghan border – official
- Balochistan’s home minister says the incident occurred after some miscreants provoked the protesters
- Traders and citizens were protesting against the closure of Chaman border
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.
